Latest / Simply Bitcoin / Did Blackrock Just Become More Important Than Satoshi? | EP 1108

Transcript

Did Blackrock Just Become More Important Than Satoshi? | EP 1108 · Simply Bitcoin

0:00
Yo, the Bitcoin ETFs are about to become the biggest holders of
0:04
Bitcoin in the entire world. While some people probably like
0:09
me, don't think this really matters, some experts believe
0:12
that without the ETF Bitcoin was saved.
0:15
And I quote from sliding into oblivion multiple times a direct
0:19
quote. Is it a bad thing that BlackRock
0:21
and friends are on the verge of holding more than 1,000,000
0:24
Bitcoin? Or is there a little more to the
0:26
story than the recent record-breaking volumes going
0:30
into the Bitcoin ETFs? We'll discuss this and more.
0:34
And I got a few guests here today, so I'm not alone, guys.
0:37
I got our boy Rustin, of course. Of course, you guys know Rustin.
0:42
And we have Nicholas and Kiki. Oops.
0:46
Nicholas and Kiki from adopting Bitcoin.
0:50
Guys, first of all, forgive me for being late.
0:54
Forgive me for my video and audio, but my electricity is off
0:58
in my apartment. So we're going to make do.
1:00
The show doesn't stop. We got a good show for you guys.
1:02
So Jacob's producing on the back end.
1:05
Hopefully everything works without a flaw.
1:09
Jacob, can you pull in these scenes for us so that we can get
1:12
into the news story for today? But Ruston, how you doing this
1:16
morning? Dude, I'm absolutely stoked up
1:19
the the people may not know or understand, but the weft police
1:23
may have surrounded Opti's house and he had to go down in his
1:26
bunker to air today's show. He's putting it on the line for
1:29
you. All right, so here we are.
1:31
We're going to send it. And man, it's the time of the
1:35
season to destroy the bears, baby.
1:38
We it is this we are about to enter the most just incredible
1:42
bull run in Bitcoin's history. We're here for it and we have
1:46
people here from Bitcoin country.
1:49
I'm so stoked. All right, We were talking about
1:51
this earlier. I was like, how long is it?
1:53
Is it going to be for orange man to go down to El Salvador and
1:57
say, hey, Mr. Buchelli, you've been highly successful.
2:00
We want to make America great. We're going fucking broke.
2:03
What do we do? Tell us what to do, Mr. Bill
2:06
Kelly. And he's going to find his
2:08
answers in El Salvador. So super stoked for this man.
2:12
Looking forward to the news. It is packed and Opti's got so
2:16
much good stuff for you and our guest today from Bitcoin Country
2:21
talking about the upcoming conference.
2:23
So guys, yeah, just Opti bring them in.
2:25
Let's go, let's go. Nicholas Kiki, thank you so much
2:29
for showing up today. Again, technical difficulties.
2:32
So say hello to the audience and then let's get into this news
2:36
today. Hey, guys, good morning.
2:47
I'm funny thing, I'm actually spending a couple of days in the
2:50
US I'm in San Francisco and I will be back in San Salvador
2:53
tomorrow. But hey, hi everyone.
2:57
Let's go, let's go. Kiki, how you doing?
3:00
I'm all right. I'm sitting here in a cafe in
3:03
San Salvador. I'm running to a meeting for
3:05
adopting after this. So there's a bit of noise around
3:08
me, but I think it's just one of those days for everyone right
3:10
now. Without a doubt, without a
3:13
doubt. All right, Jacob, pull up, pull
3:15
up the swords. Let's get this show rolling.
3:17
OK, so full screen this a little bit.
3:20
First and foremost, who am I talking about when I talk about
3:23
these Bitcoin expert 12 course, we're talking about Eric
3:26
Balkunis. He is a senior ETF analyst at
3:29
Bloomberg. And the crazy stuff that's
3:32
happening with the Bitcoin ETFs. I know personally I'm I'm a
3:36
little burnt out about talking about the ETS for so long, but
3:40
we are on the verge of seeing that the USETFS combined are
3:45
potentially, it could be today, it could be by the end of the
3:48
day are going to hold more Bitcoin than Satoshi Nakamoto
3:53
himself. Now, of course, we did do a
3:56
little click bait on the title. Obviously BlackRock is not more
3:59
important than Satoshi here. Satoshi is the creator of
4:02
Bitcoin, but it is incredible that they have been able to
4:06
acquire so much Bitcoin in such a short amount of time.
4:11
Now, Jacob, zoom out a little bit so we can read Eric
4:13
Balkunis. And again, this could happen by
4:17
today. So here we are reading his
4:19
tweet. All right, we're going to move
4:20
up our predictions. Yesterday the Bitcoin ETFs
4:24
gobbled up by themselves 12 K coins in.
4:43
The Gotti just got lucked in the matrix.
4:45
Can you guys hear me? We good, we good.
4:50
OK, let's go ahead and see here. Jacob, go ahead and bring that
4:53
back up. Or is Opti back in line?
5:14
Hey, guys. OK, so here we go.
5:17
Jacob, please pull up the news. There we go.
5:19
Fearless leader has. That guys again, forgive me,
5:23
forgive me. Today is going to be a total
5:25
shit show. Now go to the next tweet, Jacob.
5:28
This is where I think the no, no, no, go back to the last
5:32
tweet, but at the bottom, the second tweet he has there.
5:35
No, not that one. Go back to the bottom right
5:40
there. There we go.
5:41
Now click that second tweet. This is also some crazy ETF news
5:46
that the I bit BlackRock ETF has just passed a $30 billion mark
5:52
in assets and total holding and it's literally a record-breaking
5:56
ETF. It's a milestone ETF to pass it
5:59
in 293 days. The last one go back to some of
6:03
that sauce there. The last one was 12172 days,
6:07
which was the AEP, i.e., TF, and the gold ETF took 17190 days to
6:14
reach the $30 billion mark asset.
6:17
Absolutely incredible how much Tradfi loves Bitcoin.
6:21
Now go to the story. Go to the next tab there with
6:23
Eric Balkunis's tweet. So of course, this came out
6:26
about a month ago and we're just adding this because this is some
6:30
spicy stuff here. Of course, this was when
6:33
BlackRock came out and readjusted their confirmation
6:37
times with Coinbase. Now go down, down a little bit,
6:40
Jacob, to the part where it's talking about ETFs.
6:43
Again, guys, forgive me. We are, we are working through
6:46
right here, ETF holding back cell pressure.
6:49
Can you zoom in there a little bit?
6:51
So Eric Balkunis says that he's got 2 reasons that have caused
6:56
his theory to surface. The one is that Bitcoin
6:59
investors are looking for a reason behind the selling
7:01
pressure that has kept Bitcoin in a downtrend since March.
7:05
Instead of looking in the mirror, it must be the ETFs.
7:07
But all they've done is saved your bag from sliding into
7:11
oblivion multiple times. Now, of course, Eric Balkunis,
7:15
he is an ETF guy. He's a track by guy.
7:17
Of course he's going to kind of give credit to the ETF that
7:21
that's why Bitcoin is pumping. We would argue that it's because
7:24
of this, the having literally like a clock on the dot, six
7:28
months after the having, Bitcoin starts to pump and look, it
7:31
looks like we're there anyways. So the second reason is common
7:34
skepticism that Bitcoin investors hold towards
7:37
governments and institutions. But Kunis explained that gold
7:40
ETS face similar speculation with gold bugs calling SPDR gold
7:44
shares, AKA GLD paper gold. And he added, this is like deja
7:49
vu all over again, essentially saying that Bitcoiners are
7:52
turning into the new gold bugs. Of course, we are always
7:56
concerned about paper Bitcoin. This is why Bitcoin was created,
8:00
so that we can fight the system, so that we can ensure that
8:03
Bitcoin doesn't get captured by institutions.
8:07
But it is absolutely incredible how much Tradfi loves Bitcoin.
8:12
It is undoubtedly become the best ETF launch ever.
8:17
The Bitcoin ETFs, in particular the BlackRock ETFs and after
8:21
today potentially combined ETFs in the US might hold more
8:26
Bitcoin than Satoshi. So yes, you know the the FUD
8:31
here, if you could say that is, is BlackRock more important than
8:34
than Satoshi? Obviously not, but they are now
8:37
on the verge of becoming the biggest holders of Bitcoin in
8:40
the world, which is absolutely incredible.
8:43
Personally, my thoughts here are, you know, it's it's a
8:46
little a little bittersweet here because when you consider about
8:49
all that Bitcoin going into the ETFs, that's pretty much going
8:53
to be locked away. We all know, you know, in 100
8:55
years, bitcoins going to have to survive all fees alone.
8:58
And if all these bitcoins getting locked up and they're
9:01
basically treating it like an asset, it's never going to move
9:03
again. That's a lot of Bitcoin that's
9:05
going to leave the circular economy of Bitcoin.
9:08
So there is some concerns here, obviously, but man, they are
9:12
gobbling up so much Bitcoin. It's absolutely incredible.
9:15
Now, hopefully that all went through again.
9:18
Forgive my my roundabout makeshift up here to get you
9:23
guys today's show, but Ruston jump in here.
9:26
What's your thoughts on this? I mean, I think they were just
9:29
doing massive numbers yesterday, records and trading volume.
9:33
I think BlackRock alone over 3 billion in trading volume
9:37
yesterday. So absolutely insane.
9:40
And as we're starting to get retail into the mix with the the
9:43
bull market taking hold, it's only going to get bigger.
9:46
Another thing when we talk about the Bitcoin ETFs, Larry Fink,
9:50
these things, what, what is it about?
9:53
So as an asset class, it is the biggest launch.
9:56
But BlackRock didn't just want to throw out, throw out a
10:00
Bitcoin ETF. They are the Bitcoin ETF right
10:04
now. So they're outdoing everyone by
10:07
a large margin. I think it's 75 to 80% of the
10:10
flows have been to BlackRock compared to all the others.
10:13
Now, with that being said, we're talking about Microsoft, Meta,
10:17
Amazon, and if they're going to get exposure to Bitcoin, it's
10:23
likely to come through the BlackRock ETF.
10:26
And guess who just so happens to own major share in all those
10:30
companies and it's going to pump everyone's bags at the same
10:34
time. This is this is insane, Opti and
10:36
we I think we were going to get into this in a second, but
10:40
talking about language and someone has said certain things
10:44
about Bitcoin as an asset. But you know, there is the thing
10:49
about getting the horse inside the castle.
10:51
That's all it takes. And that same person had put out
10:55
a tweet that said when the supply shock takes hold, it'll
10:58
be at a point it'll just be irrelevant to price anything in
11:03
dollars. So let it be a commodity.
11:06
That's all it needs to. Be love it and and someone in
11:09
the chat said the ETFs in the US don't technically hold anything
11:14
but pure speculation. No Bitcoin to spend and use.
11:18
While while I do agree with that that they aren't using Bitcoin
11:22
per SE, they're using it more like a asset.
11:24
It's just going to sit there and you know, accrue purchasing
11:28
power. I think by now we we've been
11:31
able to see on chain that all of the Bitcoin ETFs, they are
11:34
actually buying that much Bitcoin.
11:37
You can check it on chain. They do have the Bitcoin, but
11:41
yeah, yes, it's not going to be quote UN quote used on the
11:44
network. It's probably going to be locked
11:46
away for a long time, which is some trade-offs.
11:49
Of course, we're not here just for number go up.
11:51
We're here for the freedom. Aspects of Bitcoin freedom go up
11:54
as well. And of course, we want people
11:56
using Bitcoin to transact peer-to-peer.
11:59
This is the real revolution. But yes, they are actually
12:02
buying that Bitcoin. It is going into their cold
12:05
storage. Yes, it's getting locked away,
12:07
but as of now. Yeah, We got to make a good
12:12
point here. Like does immutable money is
12:15
that valuable to BlackRock when they are already embedded in the
12:19
traditional financial system where most financial crime takes
12:23
place? No, they don't need that.
12:25
They just want to pump their backs.
12:27
And so in turn, if they can limit the amount of that freedom
12:30
money out there, you know that that's less of them to worry
12:34
about in the long run. That's why it's so important to
12:37
self custody that corn, cause any any of it not is likely
12:41
going to be Larry Fink's corn, and in due time. 100% All right,
12:45
let's pass it to our guest. Nicholas, what's your thoughts
12:47
on this? Do you care about the ETFs?
12:49
Are you tired of hearing about the ETFs like I am?
12:52
What's your thoughts on this? I, I think you're muted, bro.
12:59
Maybe it's me. Yeah, I I mean the the contrast
13:07
with the Salvador is is fairly stark.
13:08
Obviously, like in a Salvador, I'm using Bitcoin every day
13:12
there to pay for goods and services.
13:15
And so for me, the idea of having, you know, like an
13:19
investment on Evacua is like, I don't know, maybe not stasis to
13:24
Bitcoin at the same time, you know, number go up is a very
13:30
powerful technology. And of course the ETF will help
13:35
us, you know, bring Bitcoin to, I don't know, new all time high,
13:39
right. So I have mixed feeling for the
13:42
ETF, but I, I think that's, that was inevitable that it was
13:46
coming. Yeah, totally, totally.
13:49
Now we'll pass it over to Kiki because I saw you laughing.
13:52
So I'll answer the first question.
13:53
Are you tired of hearing about the ETFs?
13:56
And then what's your thought on the ETFs?
13:59
But yeah, to be honest a little bit, but I'm also like coming at
14:03
it from a really selfish perspective.
14:05
I'm Canadian, I grew up in Canada.
14:07
I've been living in El Salvador for 2 1/2 years.
14:09
But in the past, when I've tried to buy Bitcoin using any sort of
14:14
bank accounts in Canada, I've had like an insane amount of
14:17
issues, right? And I saw a tweet recently that
14:20
talked about how specifically my banks, they are holding Bitcoin
14:25
ETFs. And I'm like, OK, so it's a big
14:27
game and I'm just not in it. What's going on?
14:31
Incredible, incredible. And yeah, Speaking of Canada,
14:37
Jacob, can you pull up the ad? See we're we're we're working
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All right, let's get into the rest of the show.
15:34
Let's see if I can handle this. We'll see.
15:36
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15:48
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Use the promo code simply and you get 15% off OK, Jacob, let's
16:18
get to the numbers. Let's get let's get this game
16:21
rolling right here. Of course, of course, of course
16:23
we're reading the numbers. Now zoom in on this because it's
16:26
kind of small for me over here. We'll just do some quick numbers
16:29
here because I don't have my numbers going up.
16:32
Let's see. Hold on, it's, it's being lost.
16:34
The current Bitcoin price is $72,160.00.
16:39
The SAT per dollar, AKA how much the dollar is worth in Bitcoin,
16:42
AKA how much Bitcoin you can buy for a single dollar.
16:45
It's currently at 1386 SAT's per dollar and the current market
16:50
cap in Fiat terms is 1.43 trillion dollars.
16:54
And since I don't have my normal numbers, it's been what's this,
16:58
230 days since all time high? We're ancient boys and girls.
17:02
We are almost at all time high. We're about to hit it.
17:05
Maybe we'll break it by this weekend.
17:07
Actually, I'm really hoping for the weekend pumps.
17:10
I'm I really can't wait till the price starts running on the
17:13
weekend start the wrecking Wall Street.
17:14
Maybe we get our first weekend pump.
17:16
I would really love to see it. Anyways, I think Ruston let's
17:20
pull up the video here cuz again, I'm just super wrecked
17:23
today. 11 just point to I think highlight on the dashboard is
17:31
the difficulty adjustment is going to be like 7.9% which is
17:36
like an extremely high number. Yeah.
17:40
And typically, you know, difficulty adjustment, it starts
17:43
with difficulty adjustment and then the price whip.
17:45
So it's it's going to. Totally love to highlight that.
17:50
All right, let's pull up this video.
17:53
Of course, Ruston just kind of hinted on this.
17:56
Pomp did a interview yesterday with Howard Lutnick, McCourt CEO
18:00
Cantor Fitzgerald, which now you know, the rumors are have been
18:04
proven. Correct.
18:05
I have one last question for you before I let you go.
18:08
How rich are you and how much of your net worth is in Bitcoin?
18:13
Because if I don't ask. Am I lost?
18:21
Am I in the matrix here? Dude I lost everything for a
18:25
second. Wow, we're.
18:26
So are you there Rustin? Is this working
18:48
OK? OK, I guess Jake Rustin's having
18:51
more issues. OK, there we go.
18:53
There we go. All right, Opti, let me get that
18:55
link back pulled up here. Man, what a bomb.
19:00
OK. OK.
19:01
Well, I will recap right now maybe.
19:03
We there we go. Go ahead, Opti.
19:06
Are we back in? Are we back in?
19:09
OK, you guys can hear me. All right, again.
19:11
Forgive me, boys and girls. Today is a shit show.
19:15
So just to recap a little bit. Let's see if we can get this up.
19:19
All right, let's try it again. Ruston, can you play this?
19:23
I have one last question for you before I let you go.
19:26
How rich are you and how much of your net worth is in Bitcoin?
19:31
Because if I don't ask you, everyone will be really mad at
19:33
me. If you took my stake in my
19:39
public companies, which is public, and you did the public
19:44
math, you'd see a couple of billion dollars, OK, OK.
19:47
And then at least a couple of billion dollars.
19:49
And then you'd have, you know, what's Cantor worth?
19:53
Yeah, I'm not saying OK, but things are good for me.
19:57
How about that? Is that a nice way to say it?
19:59
Since Cantor owns the stakes and the other companies, it's good
20:02
for me. So.
20:03
And I have. The the percentage, you don't
20:06
have to say the exact number, but like how do you think about
20:09
either you or Cantor? I don't have a big enough
20:11
percentage. I probably have, you know, if I
20:16
can't say, because then people can figure out that matter and
20:18
how much I have. I would say I have hundreds of
20:22
millions of dollars, OK, OK, hundreds and hundreds of
20:25
millions of dollars exposure to Bitcoin and it will be billions.
20:32
I was going to say, so next year when you come back and we'll do
20:34
this again and you'll be a Bitcoin billionaire and if.
20:39
You remember that model? I told you so.
20:41
If every time Bitcoin dips, I'm going to be the bot.
20:45
Trust me, I know why you're doing the lending.
20:49
Listen, listen, you don't have to explain that one around here.
20:52
So yeah, I got the 50% Bitcoin, I got the Bitcoin lending.
20:55
But basically what you're going to see is Cantor Fitzgerald is
20:59
going to be the sponsor of Bitcoin into traditional
21:01
finance. And so we will be the leader of
21:04
it. And I'll pull out this podcast
21:06
in years to come and say, see, I told you because no one's going
21:09
to remember, of course, but all the banks after we do it and
21:14
show people how to do it, right, they'll all copy.
21:17
And so the asset of Bitcoin will just as it becomes more
21:21
accepted, it will become more valuable.
21:25
And the whole Bitcoin nation should just call it a commodity,
21:28
never a currency. Just call it a commodity.
21:31
Because if it's a currency, you're attacking the politicians
21:35
of the country, right? You're you're trying to replace
21:38
my currency with yours. But if you say, hey, hey, hey,
21:42
I'm just oil, I'm just gold, I'm just a commodity.
21:46
Leave me be, right then they'll leave you be.
21:51
And that is true. And it will be why Bitcoin,
21:55
which is rare and is special, will become ever more rare, as
22:00
we both know, ever more valuable over time.
22:03
It'll be financed just like gold is, right?
22:07
Gold is. It's not like super financeable,
22:10
but it's financeable. Oil, it's not super financeable.
22:13
But it's financeable, right? Bitcoin will be financeable.
22:18
Bitcoin will be way way way higher, Sometimes lower.
22:23
You just have to have faith. Ladies and gentlemen, Howard
22:27
Lutnick, what's? OK.
22:30
So as you can tell, there's a lot of things to unpack there.
22:33
Of course, first and foremost, Howard Lutnick, if you don't
22:37
know, he's on the Trump transition team, he's, you know,
22:41
a full blown bitcoiner. He's got hundreds of millions in
22:44
Bitcoin, a billionaire talking about Bitcoin.
22:46
We know Cantor Fitzgerald is basically a firm that is packed
22:51
with Bitcoiners. They're they're they're pretty
22:53
much from the rumors are all Bitcoiners working at Cantor
22:56
Fitzgerald. And of course, he's even talking
22:58
about buying the dibs boys and girls, we are in buying the dip
23:02
territory. That means any dip, you need to
23:05
be buying the dip. Any pullback, that is the time
23:08
to be buying Bitcoin. We are entering into the bull
23:11
run where things are going to get crazy.
23:13
You need to be buying the dip. Of course, you don't want to be
23:15
selling your Bitcoin at this point because that means you're
23:18
selling it to Howard Leutnick, the Larry Finks, the Michael
23:21
Saylors of the war world. And hey, we can't let them
23:24
gobble up all the Bitcoin here. But the interesting part about
23:28
this, and it's something I've kind of been saying for a while,
23:31
it's this idea that we're seeing Wall Street enter Bitcoin.
23:35
We're seeing a lot of enthusiasm coming into Bitcoin.
23:38
And even, you know, Michael Saylor got a lot of Flack last
23:41
week for basically saying that we need custodians to come in to
23:45
Bitcoin. You know, we need the
23:47
financialization of Bitcoin. We knew that this was coming.
23:50
Obviously, it is very interesting.
23:53
You know, you can argue they're playing 5D chess here.
23:55
Like Howard Lautnik just said. It's like, don't call it a
23:58
currency because that kind of puts a target on your back.
24:00
Call it a the commodity, basically get the Trojan horse
24:03
in the door and then Bitcoin will do its thing.
24:06
Now, personally, my thoughts on this is, is more like I like
24:10
digital currency way more over assets.
24:14
It really encapsulates what we're trying to do here.
24:16
But again, there's been a lot of talk about this on Twitter that,
24:19
hey, maybe we shouldn't be calling Bitcoin money because
24:22
then that gives us all the AM LKYC laws.
24:25
It puts a target on our back. So you could argue they're
24:29
playing 5D chess here, or you could argue the flip side, the
24:32
more cynical side that what we're seeing is them trying to
24:36
financialize Bitcoin, kind of neuter Bitcoin, just keep it in
24:40
assets so that they hold it on their balance sheet.
24:43
No one is actually using it. The freedom technology doesn't
24:46
come up. And so I just want to, you know,
24:48
continue to say the same thing I've been saying on the show for
24:51
a while that we have to keep our head on a swivel right now
24:55
because Wall Street is here. We know they want the price
24:57
exposure of Bitcoin. We know that they're going to be
24:59
pumping our bags. Number is going to go up.
25:02
But we also can't lose the ethos of Bitcoin while we gain the
25:06
purchasing power in Bitcoin. I like it as a digital currency.
25:10
I think that's the best way to talk about Bitcoin.
25:13
It is a peer-to-peer currency. It is the best money in the
25:16
world. It's the only international
25:18
settlement in the world that doesn't have third party middle
25:21
men. And that's what we need to be
25:23
talking about. But if you give him the benefit
25:26
of the doubt, maybe he's talking about getting Bitcoin in the
25:29
door as a Trojan horse. Maybe as a more cynical take,
25:33
maybe he's kind of talking about Co opting Bitcoin so that it
25:36
doesn't do what we think it's going to do.
25:39
And that kind of goes to what I said in the beginning with the
25:41
ETFs that, hey, a million plus Bitcoin are about to be held by
25:46
these ETFs in the US. What is that Bitcoin going to be
25:50
doing? It's probably going to just be
25:52
sitting there. It's not really going to be, you
25:54
know, being used on the network. That Bitcoin could be locked up
25:57
for a long time and moving down into the future, the next 1020
26:01
years, there is some concerns of whether the Bitcoin network is
26:06
going to be able to propagate itself, whether there'll be
26:08
enough fees to pay the miners to secure the network.
26:11
So there's a lot of things to consider here.
26:13
But you can tell Howard Lutnick on the Trump transition team a
26:18
Bitcoin or bullish on Bitcoin. So if Trump gets elected, it
26:21
looks like we might be having some favorable regulations, some
26:25
favorable laws out there in regards to Bitcoin.
26:27
So I don't know, things are looking bullish, but keep your
26:30
head on a swivel. It's getting very interesting
26:33
out there. I'm gonna pass it to Nicholas.
26:35
Nicholas, what's your thoughts on Howard Lutnick saying call
26:38
Bitcoin a commodity, don't call it a currency, don't put
26:41
unnecessary heat on your back? What's your thoughts on this?
26:44
Is he playing 5D chess or is this an attempt to Co-op the
26:48
Bitcoin network? I don't know.
26:52
There is so much to say here. Something that counterfeiture is
26:56
doing also is holding all the treasury bill for Tether, which
27:01
itself, you know, is, you know, the main currency using in
27:06
developing country like the USD stablecoin.
27:11
I, I mean, I, I think to come back to your question, I think
27:16
Bitcoin is all of the above, right?
27:20
I think it's a commodity. There is certainly a lot of
27:22
miners that are converting energy to Bitcoin and you know,
27:28
it's not too different from gold or or but certainly also
27:32
currency and I'm using it as a currency on my own almost
27:37
everyday, which is maybe not if you like in the US, like you
27:43
don't have too much opportunity to use Bitcoin as a currency
27:46
because of the tax or capital gain tax not make it hard, but
27:52
it's really depend of where country you are at.
27:56
For me, it's a currency, but that's it.
27:58
I mean, if Howard Lutnick is saying, you know, Bitcoin's a
28:02
community to say like it should not be tax, I think that's
28:09
brilliant. That's that's, that's what I
28:11
would hope from from his from his view.
28:16
Totally, totally. I'm gonna pass it to Kiki here,
28:19
considering that we are going to be talking about adopting
28:21
Bitcoin. Bitcoin country uses Bitcoin as
28:25
a currency. It is money down there.
28:27
So what's what's your feelings when you hear Howard Lepnick
28:30
say, hey guys, just call it a commodity, Play it safe.
28:33
Don't don't tell them you're coming for the you know, the the
28:36
king spot of calling it a currency.
28:38
What's your thoughts when you hear that?
28:41
I mean, that's on him, I guess, like if that's how him and, and
28:45
the businesses that he's working with and want to take it, then
28:48
that's on them. But there's a whole country,
28:51
there's a whole subset of people who are using it as a currency
28:54
and everything's going great. And especially as a foreigner
28:58
living in El Salvador, like I'm so grateful for this to be have
29:01
a currency to use because trying to go back and forth between
29:05
Canadian dollars and the US dollar is just a nightmare.
29:08
So keep on doing your thing, but we're going to keep doing ours.
29:12
Let's go. I wish I had my horn today
29:14
because that's exactly the thoughts that I would be saying.
29:17
Rusted. What's your thoughts on this?
29:20
I know you're a fellow tinfoil hat.
29:22
Wear So first to start off with, Mr. Lutnick, everyone tries to
29:28
put Bitcoin in their stupid little worldview.
29:31
It doesn't fit your worldview. It's bigger than a fucking
29:35
commodity. It's money too.
29:36
It's electric fucking revolution.
29:40
These people just don't grasp it, man.
29:42
But also, they could be playing a bigger game.
29:45
George Washington, the war of attrition.
29:47
We've talked about this. Maybe what Saylor was talking
29:49
about. No, guys, let's be nice.
29:51
Let's not call it money. Let's call it a commodity.
29:54
Well, what the fuck? It's untaxable either way.
29:57
And guess what? Guess what?
29:59
I saw it down in there. Someone got it.
30:01
Someone got it. Orange man just said Bitcoins
30:05
money. Fuck your taxes.
30:08
So. So what's next?
30:10
What do you got, ECB? What do you got, Mr. J Powell?
30:14
What's up your sleeve, boys? Oh, yeah.
30:17
You get to print the dollar to oblivion.
30:20
Send it, baby. Let's go.
30:22
We have Bitcoin. One without ever firing a shot.
30:26
It's over. Read them and weep, you Fiat
30:28
clowns. Yeah, let's go.
30:33
This is why we need Ruston on this show.
30:36
Absolutely incredible. All right, guys, well, we're
30:38
going to get into the news. We have a big news story for you
30:41
guys as well. And also, of course, you know, I
30:44
know we're having hiccups, but like, comment, subscribe to the
30:47
channel, help push this in the algo so more people know what is
30:50
going on in the world. On that note, let's get into
30:54
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All right, guys, let's get into today's news story.
33:03
Pulling this up. Let's go.
33:05
Actually, Jacob, can you pull the tweet up?
33:07
Sorry guys. So we got some crazy news coming
33:10
out yesterday and it's actually here.
33:14
I actually just just pull up just pull up the letter and I'll
33:18
I'll I'll kind of recap it. So yesterday it's kind of a a
33:22
growing trend we are seeing right now in the world of
33:26
Bitcoin is basically, you know, micro Sailor has been out there
33:30
exposing the world to Bitcoin for corporations.
33:34
We have BlackRock coming out with their ETF, which is
33:37
basically basically exposing the institutional capital to
33:40
Bitcoin. Now all of institutional trad fi
33:43
has to look at Bitcoin seriously.
33:45
We have the fasby rules changing.
33:47
So you can see that the trend around Bitcoin is slowly but
33:50
surely going into our favor. You know, we have the Republican
33:54
Party coming out talking about a pro Bitcoin platform.
33:57
Of course, we just played Howard Lutnick, who's on the Trump
34:00
transition team this week. We also saw the first university
34:05
get into the Bitcoin ETS. We've seen pension funds get
34:08
into Bitcoin and now it looks like we are having some more
34:11
conversations on the state level.
34:14
Of course, we've had Wyoming that's been leading the charge.
34:16
But now we are seeing that apparently the CFO of Florida is
34:21
looking at Bitcoin as a very serious investment.
34:26
And they have to kind of a nod to Trump, take into account the
34:30
Bitcoin strategic stockpile as a legitimate way to ensure that
34:35
Florida stays above board. OK.
34:37
So I'm going to read a little bit for you guys here because I
34:39
think there is some stuff in this that is very fitting.
34:43
Again, considering what this last week we saw Microsoft, I
34:46
think they're starting to vote on adding Bitcoin on their
34:50
portfolio. So we're seeing that corporation
34:53
pension funds, you know, nation states, of course, El Salvador
35:00
and now even more states following suit and thinking of
35:03
Bitcoin as a legitimate investment.
35:06
So of course, we have the CFO of Florida, Jimmy Petronas.
35:09
Wait, go back up. Yeah, there we go, titled
35:13
headline Florida needs to lean forward on Crypto.
35:17
So I'm going to read a little bit of this guy.
35:18
So Florida's economy in its prime is in its prime with the
35:22
AAA bond rating for the fifth year in a row, record reserves,
35:25
and we are outpacing the country in nearly every key economic
35:29
metric. If Florida were its own
35:30
sovereign nation, it would be the 16th largest economy
35:34
globally. For generations, many States and
35:36
countries have viewed Florida as an economic leader and
35:39
innovator, given its impressive track record and pioning
35:43
pioneering spirit in various fields, including space travel
35:46
and fintech. I am writing to you today with
35:49
that same innovative spirit in mind.
35:51
In the recent speech at the Bitcoin 2024 convention,
35:55
President Trump proposed the idea of a nation of a national
35:58
stockpile of cryptocurrency. Of course, the phrasing was a
36:02
Bitcoin strategic stockpile vowing to make the US the
36:06
world's cryptocurrency leader. This comes as the CCP makes
36:10
inroads every day into the crypto world to grab control
36:12
over this emerging emerging currency.
36:15
Trump said he was established a crypto Presidential Advisory
36:18
Council and create a national stockpile Bitcoin using
36:22
cryptocurrency. the US government currently holds
36:25
mostly seized in law enforcement actions.
36:28
I believe this forethought and innovative thinking from a
36:30
successful businessman like President Trump must not be
36:33
taken for granted. Recently, government, Governor
36:37
DeSantis obviously has been fighting CBDC's and the concern
36:42
of a global CBDC system. It seems like every country in
36:45
the world is trying to roll out or at least looking into rolling
36:48
out their own CBDC. Obviously, we are highly against
36:52
CBDC's. We say it all the time.
36:53
It's big corners. Slavery.
36:54
CBDC's would fall under the slavery camp anyways, going down
36:58
a little bit when managing state pension for firefighters,
37:02
teachers and police officers, it is also essential to prioritize
37:06
the bottom line and ensure the best return on investment for
37:09
Floridians. This is where the potential of
37:11
investing in Bitcoin, or it says, you know, cryptos, becomes
37:14
particularly compelling. Bitcoin is often called digital
37:18
gold, and it can help diversify the state's portfolio and
37:20
provide a secure hedge against the volatility of other major
37:24
asset classes. The State Board of
37:26
Administration maintains a Florida Growth Fund that allows
37:29
for more innovative and emerging investments, and a digital
37:33
currency investment pilot program could be a perfect fit,
37:36
offering potential benefits we cannot afford to overlook.
37:40
Two other states, Wisconsin and Michigan, have seen it wise to
37:43
invest a small portion of their pension funds into crypto.
37:46
In March, Arizona State Senate advised efforts to add crypto to
37:51
state retirement fund to encourage encourage pension fund
37:54
managers to consider crypto and their allocation.
37:56
Moreover, Wyoming and Nebraska are leaders in crypto mining and
38:00
have enacted dozens of laws to attract the industry, including
38:04
a framework for chartering crypto banks.
38:06
And as a trustee over the State Board of Administration, he's
38:09
asking to please consider this and take it seriously.
38:12
So a few things I want to mention.
38:14
First of all, what Jimmy Petronas is saying here.
38:18
It sounds a lot like what we heard Microsoft write in their
38:21
letter, essentially urging shareholders to vote and add
38:25
Bitcoin to their portfolios because hey, look, you might be
38:29
hedging inflation, you might think your portfolio is great,
38:33
but Bitcoin is and I'm I'm not. Hopefully I don't.
38:36
Again, don't blow this one the fastest hate horse in the race.
38:40
Bitcoin is undoubtedly the best hedge in inflation.
38:43
And again, if you want to stay ahead of inflation, you need to
38:47
be buying some Bitcoin. So it looks like we're seeing a
38:50
couple things happen. One, of course Bitcoin is being
38:52
taken seriously at every level, whether it's the state level,
38:56
whether it's the federal level, whether it's the corporation
38:58
level, and of course every individual out there should be
39:02
taking Bitcoin seriously and seriously consider adding it to
39:06
their personal portfolios. Now we're seeing it's going to
39:09
the highest level. And two, it's something we've
39:11
been saying on the show for a long time that it looks like in
39:14
the states, it might be that the states take lead on adopting
39:19
Bitcoin. Obviously we've seen Wyoming,
39:21
Nebraska, Arizona, they've been talking about it.
39:24
We're seeing pension funds invest in the Bitcoin ETFs.
39:28
We just saw this week Emory University start to invest in
39:32
the Bitcoin ETFs. We've seen a lot of corporations
39:35
dip their toes into the Bitcoin ETFs.
39:38
Obviously we want to see people holding spot Bitcoin again, all
39:41
the concerns we've been talking about over the year in regards
39:44
to the Bitcoin ETF. But again, the signal is
39:48
spreading and people are taking Bitcoin seriously.
39:51
Now we have the state of Florida very seriously considering or at
39:56
least proposing to consider Bitcoin on their balance sheet.
39:59
So again, I said it all year, I think Q4 of this year, we're
40:03
going to see some very interesting names at least
40:06
taking Bitcoin as a viable investment.
40:09
We've talked about it all year that before 2024, before the
40:13
BlackRock ETF, it was career suicide, metaphorically of
40:17
course, to propose Bitcoin as a viable investment.
40:22
Now we're seeing it's the opposite.
40:24
Remember what happened to the Vanguard CEO?
40:26
You know, people can say he didn't leave because of the
40:29
Bitcoin ETF, because Vanguard didn't want to get into the ETF.
40:33
But as Bitcoiners really know what the deal is, they had to
40:36
push him out nicely because, hey, if you're fighting Bitcoin,
40:39
you're fighting reality, you're going to be left behind.
40:42
And now we're seeing that on a state level, it is becoming a
40:45
very serious conversation that they might need to add Bitcoin
40:49
to their balance sheet. Because again, we always say it
40:52
on the show, 8 billion people on planet Earth all have the same
40:56
problem. We've all been turned into
40:58
investors. Now having cash flow, having a
41:01
positive business is not enough. You have to figure out what to
41:04
do with that money so that you can beat inflation.
41:07
And if you're not buying Bitcoin, if you're not getting
41:10
20% plus raises at your job, you are not beating inflation.
41:14
And now everyone is looking towards the savior, AKA Bitcoin,
41:19
AKA. It's no coincidence that El
41:22
Salvador is the first one to adopt Bitcoin.
41:26
You know, the the name is literally the savior.
41:29
And here we are. Bitcoin is doing very similar
41:31
things. It's been taken very seriously.
41:34
I think 2025 is going to be an incredible year.
41:37
We're seeing that the price is starting to run and now Bitcoin
41:40
is a legitimate investment portfolio asset.
41:43
So everyone has to take Bitcoin seriously.
41:46
We've come along in the 15 years.
41:49
Obviously we want individuals holding Bitcoin.
41:52
It's about you taking Bitcoin into self custody.
41:54
But hey, the game is evolving here and it looks like everyone
41:58
is going to be adding Bitcoin to their balance sheet.
42:01
So I'm going to pass it to Rusted because this is up
42:03
Ruston's alley. What's your thoughts here
42:05
brother? I think it all comes back to our
42:10
boy. Ron was right, OK, And what
42:13
we're seeing in Florida, my cup has runneth over.
42:18
OK, Status tears are just spurting everywhere.
42:22
It's it's there's geysers of status tears just spurting out
42:26
of the ground. And it's it's a beautiful thing
42:28
to see. Why is this happening?
42:31
Is it just because they want the gains?
42:34
Is it, is it just because you know, oh, we're, we're about
42:37
freedom. It's all the, it's about self
42:40
preservation. They absolutely have to do this.
42:43
If you don't do this, you're going to go poor.
42:46
This is what Bitcoin is about, OK?
42:49
This is about defending yourself from the atrocities of the
42:53
state, the malfeasance of the state.
42:55
The all a central planner is capable of planning is chaos.
43:01
That's all they're capable of. They, they, they constantly
43:05
mismanage, then try to figure out a way to manage what they
43:08
mismanaged all the time. That's all it is.
43:10
It's an endless loop and it, it's taken like what?
43:15
What's crazy is thinking about Ron Paul.
43:17
We know he was right. I remember in 2008, the first
43:20
time I heard him speak and then I read in the Fed, I knew he was
43:23
right. But look how long he had to
43:27
fight and get laughed at and be right and stick to his guns and
43:32
never sacrifice his principles. And that kind of let us hear how
43:35
many, how many Bitcoiners started right there within the
43:38
Fed? Who taught you that?
43:40
The creature from Jekyll Island was a piece of shit, right?
43:44
That was Ron Paul. And now we we are seeing the
43:48
adoption of sound money on a scale we've never seen.
43:51
We are seeing the inception of that political ideology and
43:56
ethos into the mainstream. We're talking about ending the
43:59
income tax now. When was the last time that
44:03
happened? Never Ron Paul, that was it.
44:06
It was the only one never happened again.
44:08
OK, not since 1913. We, we're in, we, we may have
44:12
one shot at this thing and there is man, the, the two, the two
44:19
worlds that we can go into. But regardless, there's no
44:24
stopping it. And that's what Florida knows.
44:25
That's what these other states know.
44:28
That's what other sovereign nations, right?
44:29
We have the UAE and others looking at adopting Bitcoin in
44:33
their funds. And in that interview with Pomp,
44:37
if you go through the whole thing, he was talking about how
44:40
he got to talk to Trump and got him into that idea of a
44:44
strategic Bitcoin reserve. It's not just for political
44:48
points. It's because there is no
44:49
stopping this train. You've heard Lenald and you've
44:52
heard them all. All right, this the Fiat system
44:55
is is not in good shape. Name a country that was 130%
45:00
debt to GDP, came out of it was successful and didn't default.
45:04
There aren't any. OK, so this is what it is.
45:07
And I think what they're trying to do is kind of like slowly
45:10
incept this thing because if they push it too hard and
45:14
there's a massive flood, the price will run and a lot of
45:17
people will be left, you know, with nothing.
45:21
And that includes the state. These people want to acquire a
45:25
lot of Bitcoin too. So yeah, game theory is in
45:30
massive action. The end of it is, is a Bitcoin
45:33
wins. And now we're just it's like,
45:35
you know, the end. And it's just so fun to see the
45:38
jackasses along the way, those who lose.
45:42
And like, there's another thing like lose.
45:46
How would I say that? Losers will love liars until
45:51
their dying day. So don't concern yourself with
45:54
those kind of people. The truth is there.
45:57
You can't argue with fucking 10th grade math, OK, You have
46:00
that on your side. Unjust weights and measures are
46:05
an abomination. So seek the fucking truth.
46:09
Let's go rusted. Love you, love you on the show.
46:11
OK, I will pass it to Kiki this time.
46:13
Kiki, of course, we're going to be talking about adopting
46:16
Bitcoin about 5-10 minutes. You know, Bitcoin country
46:21
already has adopted Bitcoin. So what's your thoughts?
46:24
I know you're in Canada, you know, Canada and Bitcoin kind of
46:28
have a little rocky history, but what's your thoughts on the
46:32
state of Florida acknowledging Bitcoin as a viable investment?
46:38
Yeah, I mean, I find it interesting being Canadian and
46:41
then looking how the how the American system works and how
46:44
states have the opportunity to like take a little bit more
46:47
sovereignty than maybe how it works in Canada.
46:50
I wish them the best. I think it's amazing for me,
46:55
like I know I live in a bubble, but as Nicholas was saying, like
46:58
I use Bitcoin every day and I think everybody should get
47:00
exposure to that. And and that's only going to
47:02
continue to like get this train going right.
47:05
So I wish them the best and we'll see what happens.
47:09
Let's go. Yeah, It's really incredible,
47:12
you know, especially in the US this year, we've been fighting
47:14
like Bitcoin and the US federal government.
47:18
It's been a rocky battle all year.
47:20
And then looking at what's going on down in El Salvador, you're
47:22
like, man, what's the mean? Like, Jesus, I see what you've
47:26
done for other people. Why can't you do this for me?
47:29
Can you do this for us? It seems like we might be there.
47:33
It seems like the tide is turning and the US is going to
47:36
be forced to embrace Bitcoin, whether it's on the federal
47:38
level or the state level. But again, let me pass it off to
47:41
Nicholas as well, considering you also use Bitcoin, probably
47:45
more than most of the audience here.
47:47
So what's your thoughts on this? I mean, that certainly is a game
47:54
theory at play, right? Like people would adopt bitcoins
47:58
earliest will have most benefits.
48:01
So whether it's individual or cooperation or financial
48:04
institution offering to their customer or state, city, you
48:08
know, or nation, state, country. I, I didn't necessarily expect
48:13
an acceleration so quickly, but that's, I mean, certainly nice
48:18
to see what I like is the most data the Bitcoin, the more
48:22
contract the Bitcoin like it force the, it, it will force the
48:26
government to think a bit longer term because if the money is
48:33
backed again by real commodities, no, it's there will
48:38
be less waste, right? Pollution would have to be more
48:41
accountable. And this is really what I'm, I'm
48:44
looking for. Maybe I'm an interesting point
48:51
is that I'm originally from France, as I'm sure Georgians
48:56
can figure out. And I'm somewhat disappointed
48:59
that it seems all the funds are happening in the Americas, You
49:02
know, like Europe, this whole continent is like fighting
49:08
against Bitcoin in a way that I, I, I think in, you know, whether
49:12
it's like maybe Canada or, or US or US certainly leading.
49:17
But you know, is there is like a Salvador of, of assuming the
49:20
1st, but like there is people against people for, but like
49:25
people for Bitcoin are like who is thriving, I think in North
49:29
America. And now it's like a lot of
49:31
people start talking about that. One thing I can reflect is that
49:35
I think in in Europe in general, there is a lot less positive
49:39
vibe. And I wish it was not the case,
49:42
you know, coming from from Europe.
49:43
But yeah, I think that's it. Yeah, I mean, like I've been
49:48
saying it for a while, it looks like Europe is going to have to
49:52
have fun staying poor because everything they do seems to be
49:56
fighting Bitcoin. They seem to be fighting freedom
49:59
of speech. It looks like it's actively the
50:02
governments are are doing whatever they can to hurt their
50:04
citizens. You hate to see it, but you
50:07
know, you got to judge people by their actions.
50:09
And until they start embracing Bitcoin, you, you know, they,
50:13
they don't want what's best for the citizens out there.
50:15
Obviously they're afraid of what Bitcoin can do.
50:18
And This is why they're fighting it so much.
50:20
But yeah, it's absolutely incredible what we're seeing
50:22
from the EU and even most countries in the world at this
50:25
point. But yeah, it's, it's absolutely
50:28
atrocious. Anyways, let's get into the
50:30
culture and let's talk about adopting Bitcoin because that's
50:33
going to be super fun. We're about to be there in two
50:35
weeks. It's going to be great.
50:37
And this is what our guests are putting on.
50:39
So let's get into it. All right, boys and girls.
50:54
Mainly boys, but some girls. Make sure you get on the orange
50:58
pull app.com stack friends who stack sats get over there.
51:02
If you're the sole crazy bitcoiner in your community, get
51:05
on the orange pull app. Maybe there's other bit corners
51:08
near you. If you if there's no events
51:10
there, maybe you want to think about creating an event so that
51:13
you can see if more bit corners are near you.
51:16
Again, as we've been covering Bitcoin is taking over the world
51:19
and it's very important that you take your relationships from
51:23
meat space or from cyberspace into meat space.
51:26
As we've seen the last four years, things get really crazy
51:29
when you're surrounded by brainwashed lunatics and bit
51:32
corners seem to be the only ones that are understanding what is
51:35
going on in the world. So get on the orange pull app
51:38
stack friends who stack stack. This is the way.
51:41
OK, well, finally we get to the point where next week actually,
51:48
Jacob, will you pull up adopting Bitcoin real quick And we'll,
51:50
we'll plug the website real quick next week or actually two
51:55
weeks from now, we are going to be down in adopting Bitcoin, or
52:00
rather now Salvador for adopting Bitcoin.
52:02
We're going to be Oh well, my, my, OK, looks like it looks like
52:07
my power is back on. Let's go.
52:09
OK, so we'll we'll get this going.
52:12
But anyways, we're super excited to go down to adopting Bitcoin.
52:18
We're going to be handling the the YouTube stream.
52:22
We're going to get you guys all of the per the speakers live.
52:26
We're going to be doing some in between conversations with the
52:29
big guests. And yeah, I'm just super
52:31
excited. So I don't know, Kiki, do you
52:33
want to take this? Do a little TLDR and then we'll
52:35
talk about satellite events, you know, the guest speakers and all
52:38
the good stuff that you guys are doing down there.
52:42
Yeah, for sure. So this is going to be the 4th
52:44
year that adopting Bitcoin is happening in El Salvador.
52:47
In the past, it's been at the Sheraton Hotel and Convention
52:51
Center and the Crowne Plaza, which is another kind of hotel
52:54
and Convention Center. This year we're doing it at a
52:57
totally different venue. It's called Salamanca.
52:59
It's a little bit outside of the city, but it is nestled in
53:03
nature. So you're going to have like
53:05
really sky high ceiling with windows all the way and trees
53:10
around. You're going to get to see the
53:11
best of the nature in El Salvador, but also be in this
53:15
environment where we're seeing keynotes like fireside chats.
53:19
There's going to be tons of workshops.
53:21
We had so many submissions this year that I've spent the last
53:24
two or three weeks like I'm trying to do my best to put the
53:27
puzzle pieces together and make sure that we can get as many
53:30
people in, get as many different topics covered.
53:33
Whether it's mining, whether it's centralization, whether
53:36
it's CBDC's, whether it's regulatory and institutional,
53:39
and also giving a highlight to the circular economies around
53:43
the world. So there's something for
53:45
everyone. It is definitely going to be
53:48
probably one of the most exciting.
53:51
There's a lot of little areas. So, for example, if you're
53:53
coming with your family, we've got Bitcoin parent Ninos this
53:56
year. So kids under 18 are free.
53:58
There's going to be a whole program in that area as well.
54:01
So there's really something for everyone.
54:06
Let's go, let's go. OK, All right, guys, let me see.
54:10
I am. What a shit show.
54:12
What a what an incredible day. Let me get my mother here real
54:15
quick. OK, well, I just missed a little
54:17
bit, but let's talk about some of the satellite events.
54:20
What do you guys got going on? You know, what can people expect
54:24
actually is this is there still time for people to get down
54:27
there? You know it's two weeks away,
54:29
You know, can can people last minute, book their flights, get
54:33
places to hang out with? 100% yeah.
54:37
I was looking at flights for a friend from Canada yesterday and
54:40
there's still plenty of space available.
54:42
There's still tickets available, there's still accommodations
54:45
available. Just get here and you'll figure
54:48
it out. You're going to be surrounded by
54:49
like the best community of people who are just excited and
54:53
stoked, and some of them have probably been there before or
54:56
people like me who have been living here.
54:57
So get here, you'll figure it out.
55:01
Let's go. OK, well, well, we're back to
55:04
our normally scheduled programming.
55:06
I'm going to give Nicholas a chance to jump in here.
55:09
Nicholas, what are you most excited of?
55:12
You know, what was the, the, the lift to get adopting Bitcoin
55:16
going? You know what, what can you tell
55:18
the people out there? You know, let's give them some
55:20
FOMO. Two weeks away.
55:21
What can the people expect? Yeah, I, I, I decided to make up
55:27
Bitcoin four years ago, just a few weeks after Bitcoin became
55:33
legal tender, because I was discussing with some banks and
55:38
some in the meeting with the bank, they say, Oh yeah, yeah,
55:42
there was this new Bitcoin law. And last week we had a meeting
55:48
with XRP and we're going to integrate it for the Barking
55:52
system. I was like, what the fuck?
55:57
And so the idea of quitting this conference in El Salvador was to
56:03
get education on the ground, both for like individual but
56:08
also financial institutions, you know, to understand that crypto
56:12
and Bitcoin are two different things.
56:14
Like this is a Bitcoin law and everybody in the country should
56:18
be focused on on Bitcoin. You know, Bitcoin is a senior
56:21
now, right? So This is why, yeah, we have
56:25
decided to to quit this conference.
56:26
Like not four years ago, in the first year, there was a lot of
56:31
focus on lightning. So lightning is a, you know, as
56:34
a payment system, would it become the currency, right.
56:39
But now the conference have evolved into something more than
56:43
just lighting focus. It's there's a, as Kiki said, a
56:47
lot different topic, whether it's I think education is a big
56:51
piece. You know, we need to educate
56:52
more people about what is Bitcoin to get more adoption in
56:56
in Salvador. So there's a lot of that, but
56:58
there's also, yeah, other other topics.
57:00
Something I'm very excited, as Kiki said already, is that the
57:04
venue will be it's, it's a short drive from San Salvador, maybe
57:08
10-15 minutes, but it's in the middle of nature.
57:10
I think it will be a great people would have a great time
57:15
in, in this venue. I'm I'm very excited for it.
57:18
Love it, love it. OK, hold on.
57:21
Wow. Literally every technical issue
57:23
I can think of is happening today, but we're still making
57:26
the show. Go on.
57:27
OK, let's talk about, I know some of the satellite events.
57:31
You know, you guys are going to have a farmers market.
57:34
I know now you're going to have a kids section.
57:36
So let's talk about the satellite events.
57:38
Let's talk about it being a family friendly event.
57:40
So it's not just about the Bitcoiners getting down there,
57:43
it's about the family experiencing El Salvador and
57:46
what it means to live on a Bitcoin standard.
57:50
Yeah, exactly. I think the first satellite
57:52
event actually starts on the 10th and it's a retreat.
57:56
So there's a ton of retreats that are happening around the
57:58
conference, different tours that are operated by Bitcoiners.
58:02
And our focus specifically for Bitcoiners during the actual
58:06
conference, we're going to have the Bitcoin farmers market do a
58:09
pop up at the conference. There's going to be a food hall,
58:12
a beer garden, and then the Bitcoin Paradinos as well.
58:15
Prior to adopting Bitcoin, Nikolas will be hosting in San
58:20
Salvador. There's going to be, there's
58:23
already three or four parties. I'm sure 3 or 4 will probably
58:26
pop up. Usually what's going to happen
58:29
is after the conference happening just around San
58:32
Salvador, most people are going to head down to the beach, to
58:34
Alzante, to Bitcoin Beach. On the 17th.
58:38
They're putting on a full day of surf and pupusa eating
58:41
competitions and a party in the evening.
58:45
And then you kind of have the week to chill.
58:46
And then the next weekend on the 23rd, there's going to be a
58:49
festival possible in Berlin, Usulatan, which is a little bit
58:52
further away up in the mountains.
58:54
But they've been hitting the ground really hard in terms of
58:56
creating a circular economy from the ground up.
58:58
I think they've got over 150 merchants who are accepting
59:01
Bitcoin now, which is really interesting in a town of only
59:05
like maybe 20,025 thousand people.
59:07
So there is a ton to do. It's all on the website.
59:11
We're getting more and more inquiries every day, yeah.
59:15
Love it. Absolutely love it.
59:17
OK, let's, let's talk about the ticket pricing real quick.
59:20
So if people are thinking about it, how much do the tickets
59:23
cost? Of course, our audience is
59:25
mainly in the US, so they don't get the, you know, discounted
59:28
price for the, the, you know, the El Salvadorians would.
59:32
So let's talk about the ticket prices.
59:34
We'll pull it up. And is there a deadline for the
59:37
ticket prices that can they basically buy a ticket all the
59:39
way up until they get to the door?
59:42
Yeah, there's going to be tickets available at the door.
59:45
So the general access tickets right now are $400.00.
59:48
That will go up on this weekend, on the 1st, I believe at the end
59:52
of the day on November 1st. So yeah, you've got the the two
59:55
days and 10 hours to get in the early majority price.
59:59
From there it will bump to I believe it's 4:50 and then the
1:00:02
tickets at the door are going to be 500.
1:00:04
We've also got the privileged access pass, which is new this
1:00:08
year. This is going to be in a
1:00:10
mezzanine kind of VIP area. If you will, it does include
1:00:14
food and drink and it's going to give you the opportunity to sit
1:00:18
down and hang out with some of the speakers and just have a, an
1:00:22
all inclusive, if you will, experience and a really great
1:00:25
networking opportunity. And then, yeah, as you said,
1:00:29
most people here are probably going to be from the states.
1:00:31
But if you have any Salvadoran family members, because there is
1:00:33
a lot of Salvadoran Americans, $21.00 for all Salvadorans and
1:00:37
$121.00 for residents of El Salvador.
1:00:40
So there's a couple of different options for you to choose from.
1:00:43
Love it, absolutely incredible. OK, I'm going to pass it over to
1:00:46
Nikolas, but. Yeah, yeah, yeah.
1:00:48
One comment on the ticket price or just ticket in general is
1:00:51
that it's since four years ago, we only ever accepted Bitcoin as
1:00:59
mean of payment for the conference.
1:01:00
So if you want to buy a ticket, you have to buy with Bitcoin.
1:01:04
Yeah, absolutely love it. I I, I, when I heard about that,
1:01:08
I'm like, wow, they've only accepted Bitcoin.
1:01:10
You love to see it. Perfect circular economy.
1:01:13
But again, I'm going to pass it over to you again.
1:01:15
Nicholas, what are you most excited about?
1:01:17
I know you're going to be doing the bit devs.
1:01:18
Maybe you can touch on what the bit devs is going to be talking
1:01:21
about, but what are you looking forward to?
1:01:23
I know you guys are putting it on.
1:01:24
So it's like your baby and you, you know, it's hard to pick what
1:01:27
you're most excited about. But Nicholas, maybe let's talk
1:01:30
about the bit devs. What can people expect down
1:01:32
there? Yeah.
1:01:34
So B dev is a soquatic seminar type of meet up where it's
1:01:40
oriented for technical folks who want to know more about the
1:01:44
protocol, about the development, what's happening at the whether
1:01:48
it's the Bitcoin core level or lightning typically.
1:01:52
But it's it sometime it can it vary.
1:01:55
We have talked recently more about ARC, for instance, it's
1:02:01
yeah for everyone that want to know more about what's happening
1:02:04
in really at the at the Bitcoin corner then the the Socratic
1:02:10
seminar. I mean everybody that is curious
1:02:13
is welcome. We I, I typically guide the
1:02:18
conversation, but then the conversation is best with like
1:02:22
people just when they're working on, I don't know, something is
1:02:26
working on a lightning topic like say they we will talk about
1:02:30
that. They will westbound.
1:02:33
It's I was actually yesterday in San Francisco, there was a a AB
1:02:37
def here that was pretty fantastic.
1:02:39
I think there will be more than 50 people.
1:02:44
Like there is a crew from Germany that is coming that is
1:02:46
fairly significant. So I'm quite excited about that.
1:02:51
Yeah. So for anyone who is interesting
1:02:54
for like technical development, please come to the B def.
1:02:56
It's on the 13, so today's before the conference.
1:03:01
Love it, love it. Yeah, we're going to be down
1:03:02
there. It's going to be, I think just
1:03:05
Nico myself, Jacob, we'll be down.
1:03:07
Actually, I think Even so we'll see the whole, you know, whole
1:03:10
Nico family down there. I think we're going to be down
1:03:12
there the 10th. We'll be there for the whole
1:03:14
week. I'm super excited to get back
1:03:16
down there. And of course, guys, we are
1:03:18
going to be streaming the entire conference live on YouTube.
1:03:23
So you know, if for whatever reason you can't make it down
1:03:26
there, you will be able to get the content live here on our
1:03:30
YouTube. We're going to do an all day
1:03:31
stream. We're going to get a bunch of
1:03:33
cool guests. Come on, do little, you know,
1:03:35
5-10 minute chats with us. Make sure that we give you guys
1:03:39
a good experience on the YouTube stream.
1:03:42
We got, you know, we got big Murph in the house.
1:03:44
So the video everything's going to be top notch for you guys.
1:03:48
We're we're really excited to put on the production for the
1:03:51
the live stream on the adopting Bitcoin.
1:03:55
We're going to get down there. It's going to be super, super
1:03:57
fun. Anyways, we are getting to the,
1:03:59
you know, the end of the show, but I do want to give you guys
1:04:02
last couple comments. So Kiki, last couple words,
1:04:06
maybe do one last show. What's you know, give the people
1:04:11
some FOMO make sure they get they they get excited to get
1:04:14
down there. So Kiki, the floor is yours last
1:04:17
two sets on adopting Bitcoin. Maybe, you know, talk about
1:04:20
Bitcoin life, whatever you want. This is your last final plug.
1:04:24
What? What do you want to leave with
1:04:25
the audience? I would put it this way, the
1:04:29
first time that I went to adopting Bitcoin in 2022, I went
1:04:33
not really sure what to expect. You know, I'm a young female,
1:04:38
I'm not super technical. I thought I was going to be
1:04:40
totally out of my league in my situation.
1:04:43
And now here I am as one of the organizers.
1:04:47
And part of the reason that that's happened is because I got
1:04:49
to meet so many incredible people that first time that I I
1:04:52
went and I was able to maintain those relationships.
1:04:55
And so come for the speakers, come for the programming, come
1:04:59
for all of the like, like the bread and butter of the
1:05:02
conference, but stay for the people, stay for the
1:05:05
relationships, stay for that that difference between
1:05:09
operating your Bitcoin life in cyberspace and operating it in
1:05:12
meat space and come with an open mind and an open heart.
1:05:15
And like it's, it's the best, best thing in the world.
1:05:17
And this year, I think is really going to be something special.
1:05:20
Lovett couldn't agree more. That's definitely one of my
1:05:23
favorite things about going to the conferences.
1:05:25
Not only do they feel like family reunions because it's
1:05:27
only, you know, a couple times a year that I can see all my
1:05:30
Bitcoin friends, but now we're going down to El Salvador.
1:05:34
You know, we were there for the having party.
1:05:35
Now we're there for adopting Bitcoin.
1:05:37
Actually, 11 personal question because I still have, I still
1:05:41
don't know what the weather's going to be like.
1:05:42
So what's the weather going to be like down there during the
1:05:45
adopting Bitcoin? Yeah, that's a good question.
1:05:48
Because of the location and the elevation of the venue that
1:05:52
we're going to be in, don't expect it to be crazy hot.
1:05:55
It's going to be very temperate, I would say like jeans and AT
1:05:58
shirt and maybe an extra layer for when the sun goes down at
1:06:02
5:30. But it's going to be very like
1:06:05
reasonable. You don't have to expect to be
1:06:06
wearing like board shorts or anything like that.
1:06:10
OK, that's good to know. Good to know.
1:06:12
Because every time I go down there, I'm I'm wearing literally
1:06:14
shorts and AT short. Yeah, like, I don't even want to
1:06:17
put shoes on because it's so humid and hot.
1:06:20
So I'll bring some pants. I'll bring pants this time.
1:06:22
OK, Nicholas, same question to you.
1:06:25
What's the last message you want to leave with the audience
1:06:27
before we wrap up today? I I was reading the comments and
1:06:32
I love the comments. Someone said worst thing is the
1:06:35
opposite of Nicholas I. That's probably maybe true.
1:06:39
I'm, you know a software developer by trade and I still
1:06:42
do most of software development on a daily basis.
1:06:46
But I mean, I can say, yeah, we did more software developer once
1:06:50
in El Salvador. So if you are watching and
1:06:53
you're curious about El Salvador, it's a great time of
1:06:57
the year to come. So the the weather is the
1:07:00
weather is actually to to also answer the question on the
1:07:02
weather, weather is best between November and March in Salvador.
1:07:05
So it's really a great time to to, to come.
1:07:09
Love it. OK, I'm excited.
1:07:11
I'm excited because I've only been down there in I think
1:07:14
August. So I've been down there and I,
1:07:18
you know, TMI, but I'm always sweating profusely down there
1:07:21
and I'm like, Oh my God, I'm melting.
1:07:23
I'm absolutely melting. But anyways, guys, we can't wait
1:07:26
to get down there to handle the production.
1:07:29
We love putting on the live stream for the conference.
1:07:32
And you know, I'm pretty sure we we're going to have a great show
1:07:35
for you guys. We've already kind of worked out
1:07:37
some of the kinks there. We're going to bring as many
1:07:40
guests as possible so that we can get some quick rapid fire
1:07:43
interviews with all the big names in Bitcoin.
1:07:45
So again, guys, make it down to a adopting Bitcoin in El
1:07:49
Salvador, get your tickets today.
1:07:51
But hey, if you can't for whatever reason, family reasons,
1:07:54
etcetera, we will be live streaming it for you guys.
1:07:56
So at least you get kind of a feel.
1:07:58
You'll get part of the feel. The real feel is being down
1:08:00
there and meeting everyone and experiencing the vibe in person.
1:08:04
That's what it's all about. But again, Kiki Nikolas, thank
1:08:08
you so much for coming on today. Again, apologize for all of the
1:08:13
weird, you know, AV issues that we've had today, but we still
1:08:17
were able to to maintain and put on a good show.
1:08:19
This this one will be one of the legendary episodes that we can
1:08:23
laugh about when we're down there and adopting Bitcoin
1:08:25
hanging out. But again, really appreciate you
1:08:28
much love and thank you so much for coming on.
1:08:31
Let me pull you behind the scenes and hang out for a
1:08:34
couple. Hang out for about a minute
1:08:35
while we wrap up. OK, All right, Rustin.
1:08:40
What a day. What a day.
1:08:42
Dude, we fucking made it right. Hey, down in the chat, somebody
1:08:49
said it. Andrea G She got me thinking of
1:08:52
her boy ODB Opti better get up and be somebody right and
1:08:58
Bitcoin helps you do that. That's what we're here for.
1:09:01
Let's maximize ourselves. Go to the freaking moon.
1:09:04
There was another guy, Zath Metal fan.
1:09:07
I wanted to show him this. Yes, he'll understand, and yes,
1:09:12
that is clowns autograph. He writes like a highly
1:09:16
vanguarded person. But yes guys, super awesome.
1:09:19
Get down to El Salvador, it's going to be awesome.
1:09:22
Opti's going to be sweating and you can buy corn everywhere I'm
1:09:27
going. To be Papusas.
1:09:30
Super excited for the Papusas, but Rustin Rustin while we're
1:09:35
here, let's plug the simply originals.
1:09:39
We got 1 today, right? You know what can the people
1:09:42
expect for later? Let's do one last plug guys, if
1:09:45
you love, if you love our highly regarded off the cuff high
1:09:51
energy, you know, content creator AKA Rustin rust in peace
1:09:56
now you know ahead of propaganda here at simply Bitcoin.
1:10:00
Make sure you check out his show and we so let just let the
1:10:06
people know that what when should they expect the originals
1:10:10
and maybe sneak peek what you got in the works for tonight.
1:10:14
Awesome, awesome. So you guys can get those
1:10:16
between 2:21 to 321 and that'll be me on Monday, Wednesday,
1:10:22
Thursday, Dante on Tuesday, Friday, Saturday.
1:10:26
So yeah, you got 6 days of OG content coming today's.
1:10:31
You know people are they, they think they're bullish Opti.
1:10:35
And I've always thought anything you can do bullish, we can do
1:10:40
bullish. Wow, now Reston's.
1:10:43
Camera all. Right, all right, that's enough
1:10:46
of today. OK, All right, boys and girls,
1:10:49
first of all, I want to say a big thank you.
1:10:52
And I love you guys. To everyone in the chat that
1:10:55
have been riding through today's episode.
1:10:58
Hey man, you know sometimes things are out of our control.
1:11:02
Of course it happens when I'm hosting the show.
1:11:05
Everything literally goes horrible on today's show.
1:11:09
But we still got you. Hopefully the information I will
1:11:12
have to check, you know, on the back and hopefully my audio.
1:11:15
I was literally using a hotspot all day until my electricity
1:11:19
came back on in my apartment. So what a day absolutely it's
1:11:24
been it's been a rough day. I'm not going to lie, it's been
1:11:26
a rough day, but we we continued this show for you guys.
1:11:30
So we love you. We appreciate you guys thanks
1:11:34
for bearing with us. Obviously the show goes on and
1:11:37
we're going to give you a show no matter what.
1:11:39
I am your Co or host today, Opti, usually the Co host Niko
1:11:43
will be back tomorrow. We'll be back to our normally
1:11:45
scheduled programming here at simply Bitcoin.
1:11:48
Of course, we go live Monday through Friday at 12:15 PM
1:11:51
Eastern Time. Well, allegedly 12:15 PM Eastern
1:11:54
Time, we you know, it's usually about 5-10 minutes late just
1:11:58
just cuz, just cuz I'm not even going to make an excuse just
1:12:00
cuz. On that note, guys, of course,
1:12:03
you know comment in the video, make sure you like subscribe,
1:12:07
share this video, help us get pushed in the algos because hey,
1:12:12
I don't know if you noticed this week guys, but YouTube at times,
1:12:16
you know our overlords don't like everything we're saying
1:12:20
here. So I'm I'm doing my best not to
1:12:21
get naked on today's show, but we love you guys.
1:12:24
We'll see you tomorrow. Get outside, touch some grass,
1:12:26
get a workout in call your loved ones.
1:12:28
This is the way. Make sure you are staying
1:12:31
stacking sad. So this is how you win and look,
1:12:34
guys, it looks like we might be finally breaking out of that 73
1:12:40
K range. So we'll see what happens, but
1:12:42
we'll be here as your guides through the separation of money
1:12:44
and state. On that note, what a day we are
1:12:48
out of here. Peace out.
1:12:52
Buy bitcoinwell.com, a Bitcoin only platform on a mission to
1:12:56
enable financial independence.