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Why This Bitcoin Crash is Only the Beginning! | Simply SatoSHE · Simply Bitcoin

• 0:00
  Bitcoin is crashing again, but something scarier is on the
• 0:04
  horizon. If you can believe it and it
• 0:06
  changes everything, it will make the price seem like a
• 0:09
  distraction or perhaps a very big opportunity.
• 0:18
  Everyone on X is having a full meltdown.
• 0:21
  Everyone's posting doom charts, and your favorite influencers
• 0:25
  probably posting about how the price tip is actually a good
• 0:28
  thing. But while everyone is panicking
• 0:30
  and talking about the price, something way bigger and way
• 0:33
  more permanent is happening right under our noses.
• 0:36
  Apple just rolled out a digital ID system that makes Face ID
• 0:40
  look like child's play. I'm never going to hear the end
• 0:42
  of it from my Android friends. We.
• 0:44
  Got some bad ideas in my head I just.
• 0:48
  And at the same time, governments are sentencing
• 0:50
  Bitcoin privacy developers to prison for writing code.
• 0:54
  So here's the real question. What if this tip is actually a
• 0:58
  distraction from the one attack Bitcoiners can't afford to
• 1:01
  ignore? The war on your identity, your
• 1:04
  privacy, and your ability to use Bitcoin freely.
• 1:07
  And what if Bitcoin at a discount is actually a lifeline
• 1:11
  that protects you from what comes next?
• 1:13
  Yes, the price is down, but forget the charts.
• 1:16
  There's a coordinated to merge your digital identity with your
• 1:21
  money, and Bitcoin privacy could be next in the crosshairs.
• 1:24
  For anybody who is not truly. Up on.
• 1:30
  Digital IDs and why this is so important?
• 1:34
  Can you explain what digital ID means if we begin to implement
• 1:40
  them? Yeah, well, digital ID is really
• 1:41
  the linchpin to, you know, the Sustainable Development Goals,
• 1:46
  as well as this mass surveillance paradigm that's
• 1:48
  being sold to us by oligarchs on the left and the right.
• 1:52
  It would be your unique identifier for the digital
• 1:55
  world. The goal is to have it be the
• 1:58
  way for you to offer your credentials to every service
• 2:02
  that you access, period, everything ranging from
• 2:05
  healthcare to telecommunications, your social
• 2:07
  media accounts. And as things become
• 2:09
  increasingly, increasingly digitally connected, you know,
• 2:12
  perhaps even your appliances, if they're smart appliances at some
• 2:15
  point won't function without you having the proper credentials to
• 2:20
  show that it's you. So ultimately, if people want to
• 2:24
  fight against this mass surveillance paradigm in these
• 2:27
  efforts to usher us into into, you know, a very dark, I would
• 2:31
  argue a technocratic future, the most important thing is to not
• 2:35
  comply with digital ID because it's the single most important
• 2:39
  piece of infrastructure that they need.
• 2:41
  And they need us to voluntarily consent because even if they
• 2:45
  roll it out and people, it will fail if people decline to use
• 2:49
  it. Everyone's obsessing over red
• 2:51
  candles, but here's what's actually worth panicking about.
• 2:54
  Apple just made an announcement so dystopian Steve Jobs is
• 2:58
  probably rolling in his grave or trying to crawl out to drag Tim
• 3:03
  Cook back down with him. Their new digital ID system
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  isn't just a convenience update like previous biometric ID
• 3:10
  features. It's a conditioning tool, a
• 3:12
  crossing of the Rubicon moment, which allows it to become the
• 3:16
  default portal for your entire digital life.
• 3:19
  We've arrived at the bottom of the slippery slope, where a
• 3:21
  private company takes your biometric data and merges with
• 3:24
  governments around the world to offer 24/7 surveillance.
• 3:28
  And they aren't alone in this. Europe pushed digital ID laws
• 3:32
  through in 2024. The UK has a 2025 proposal tying
• 3:37
  digital identity to migrant enforcement.
• 3:40
  Yeah, I don't know who's going to believe that.
• 3:41
  And the US, as usual, is standing in the corner
• 3:45
  pretending not to stare while taking very detailed notes.
• 3:49
  They want your identity. They want your wallet.
• 3:52
  They want your data and your behavior all under the most
• 3:56
  powerful brand on earth. I don't know.
• 3:59
  Surveillance capitalism used to be about ads, but now it's total
• 4:04
  visibility. Your face, your history, your
• 4:07
  network, your purchases, your money.
• 4:10
  So ask yourself, what happens when digital ID becomes your
• 4:13
  login for everything from healthcare to the bank to travel
• 4:17
  to Bitcoin? And that brings us to the part
• 4:20
  they really don't want you to connect.
• 4:23
  How this entire digital ID rollout intersects with your
• 4:27
  right to privately transact decentralized money.
• 4:30
  Freedom is dangerous. With freedom, you might say the
• 4:34
  wrong thing, eat the wrong food, hit your home above 18°C.
• 4:40
  Yeah, and I don't even really know what Celsius means.
• 4:44
  What digital ID rescues you from this exhausting burden?
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  No more messy choices, no more private thoughts.
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  Just one inconvenient government approved digital caller of
• 4:57
  happiness. Picture this, your medical
• 5:00
  records, carbon credits, status, meet ration, and even your
• 5:05
  thoughts seamlessly integrated. No more fumbling with cash, no
• 5:11
  more messy debates. Just scan your bloody ID and
• 5:15
  obey. And don't worry, you'll still
• 5:18
  own things. Well, no, you'll own nothing.
• 5:22
  But we assure you, you'll be happy because we say so.
• 5:26
  And remember, we know best. Now let us address the menace
• 5:32
  undermining your mandatory joy, Bitcoin.
• 5:35
  With Bitcoin, you could escape negative interest rates.
• 5:39
  You could bypass our heroic bail insurance.
• 5:43
  You could transact without our permission.
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  Outrageous. Without our oversight, how can
• 5:50
  we protect you from yourself? How can we nudge you into
• 5:55
  correct behavior if we can't freeze your funds or at minimum,
• 6:01
  redirect them into our noble bug burger subsidies?
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  Bitcoin is not money. Bitcoin is disobedience, and
• 6:11
  disobedient citizens is selfish. Imagine a world free of cash,
• 6:17
  free of Bitcoin, free of choice. Each month we add drop you
• 6:22
  credits directly to your digital ID.
• 6:25
  They expire after 30 days, but that's to ensure a vibrant
• 6:30
  economy in total compliance. Your food choices, travel
• 6:35
  permissions, even speech allowances, all optimized for
• 6:39
  your happiness. You think you want freedom, but
• 6:44
  no, you want convenience. And we promise, order is
• 6:49
  happiness, and happiness is mandatory.
• 6:52
  Historically, every time the public is distracted by
• 6:55
  volatility, governments quietly push the next stage of financial
• 6:59
  control. Before we talk about why
• 7:01
  governments are coming after Bitcoin privacy, we need to
• 7:04
  remind ourselves of how we got here.
• 7:06
  Because this didn't just start with Bitcoin, it started over a
• 7:10
  century ago. And if you've been a long time
• 7:13
  fan of the channel, you recall that in 1913, the Federal
• 7:17
  Reserve was created, shifting bring monetary power away from
• 7:21
  the public and into central authority.
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  Then in the 1930s, Americans handed over their gold in
• 7:27
  exchange for government IO us. And in 1971, those IO us
• 7:31
  detached from gold entirely. I have directed secretary.
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  Conley to suspend. Temporarily, the convertibility
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  of the dollar into. Gold or other reserve assets.
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  Except in amounts. And conditions determined to be
• 7:44
  in the. Interest of monetary stability
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  and in the best interest of the United States.
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  Then came checks, credit cards, online banking and finally fully
• 7:53
  digital payments. Just this week they stopped
• 7:56
  minting the penny and they had the nerve to celebrate.
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  This is the last 1321. What really happened there was
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  the debasement of our currency and the loss of our purchasing
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  power. And with each step we became
• 8:17
  more and more addicted to convenience, handing over just a
• 8:21
  little more control. And with that absolute power
• 8:25
  came absolute corruption, which crescendoed in the 2008
• 8:29
  financial crisis. So in 2009, the birth of Bitcoin
• 8:34
  money, you can self custody without permission, without
• 8:37
  identity. It didn't just disrupt finance,
• 8:40
  it reversed 100 year trend toward totalitarian control.
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  Governments panicked. For the first time there was
• 8:47
  hope to give power back to the individual.
• 8:50
  They can't freeze Bitcoin, they can't inflate it, they can't
• 8:53
  track it by default. And most importantly, Bitcoin
• 8:57
  doesn't require ID to transact. So now, despite our First
• 9:02
  Amendment rights to free speech and our 4th Amendment right to
• 9:05
  privacy, the US seems to be skipping legislation entirely by
• 9:09
  using the judicial branch to prosecute developers for crimes
• 9:13
  committed by users. And that right there brings us
• 9:17
  into the moment this battle stopped being theoretical and
• 9:21
  became very real. The.
• 9:22
  Department of Justice indicted the creators of an application
• 9:26
  that helps people spend their bitcoins anonymously.
• 9:29
  They're accused of conspiracy to commit money laundering.
• 9:33
  Why conspiracy to commit as opposed to just money
• 9:36
  laundering? Because they didn't hold anyone
• 9:39
  else's money or do anything illegal with it.
• 9:41
  They provided a privacy tool that may have enabled other
• 9:45
  people to do illegal things with their Bitcoin, but that's not a
• 9:48
  crime, just as selling someone a kitchen knife isn't a crime.
• 9:52
  The case against the creators of Samurai Wallet is an assault on
• 9:56
  our civil liberties and 1st Amendment rights.
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  What this tool does is offer what's known as a coin joint, a
• 10:02
  method for anonymizing Bitcoin transactions by mixing them with
• 10:05
  other transactions, as the project's founder, Kion
• 10:09
  Rodriguez explained to Reason in 2022.
• 10:12
  I think the best analogy for it. Is like smelting gold.
• 10:17
  You take your Bitcoin. You add it into Whirlpool and
• 10:20
  Whirlpool smelts. It into new.
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  Pieces that are not. Associated to the original.
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  Piece. Smelting bars of gold would make
• 10:29
  it harder for the government to track.
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  But if someone eventually uses a piece of that gold for an
• 10:34
  illegal purchase, should the creator of the smelting furnace
• 10:38
  go to prison? This is what the government is
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  arguing. But all technologies have had
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  bad effects. The telephone's allowed
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  extortion, death threats, bomb threats, kidnapping cases,
• 10:49
  uncontrolled publishing of books could allow satanic books to
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  appear. Cash is the payment technology
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  used by most criminals, but it also happens to be essential for
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  preserving the financial privacy of law abiding citizens, as
• 11:03
  Human Rights Foundation Chief Strategy Officer Alex Gladstein
• 11:06
  told Reason. The ATM model, it gives people
• 11:08
  the option to have freedom, money.
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  Yes, the government will know all the INS and outs of what the
• 11:12
  flows are coming in and out, but they won't know what you do with
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  it when you leave. And that that allows us to
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  preserve the privacy of cash, which I think is essential for
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  democratic system. The government's decision to
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  indict Rodriguez and his partner, William Lonergan Hill,
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  is also an attack on free speech.
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  Because all they did was write open source code and make it
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  widely available. The Samurai Wallet developers
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  were sentenced to five years not for sealing funds, not for
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  laundering money themselves, but for writing software that
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  protects privacy and could hypothetically enable crime.
• 11:45
  Not the same thing. And that case with Tornado Cash.
• 11:49
  Roman Storm's appeal has has been denied, although just a day
• 11:52
  ago reports came out that he may be retried for his money
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  laundering charges. Ross Ulbricht, life in prison
• 11:59
  for creating a platform that other people used.
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  And miraculously, he was pardoned by Donald J Trump after
• 12:06
  enormous political pressure. But that likely won't be the
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  case for everyone or anyone going forward.
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  So it's not like it's a precedent we can really lean
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  against because it's not something that's written into
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  law. Also have the these people ever
• 12:21
  heard of cash? Like what do they think
• 12:23
  criminals used before Bitcoin? They're trying to criminalize
• 12:26
  the means of exchange instead of the people who are committing
• 12:30
  the crimes themselves. It's ridiculous.
• 12:32
  So now this begs the question, what happens if the feds come
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  from multi sig for suspicion of criminal activity?
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  Will they allege that intent is enough to prosecute and ruin
• 12:43
  people's lives? Meanwhile the banks launder
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  billions and they just pay a fine.
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  It's literally written in into their budget.
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  But if you use self custody in the future, could you one day be
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  treated like a criminal? Restraint on freedom of
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  expression of software writers is anath amount of free society
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  and a violation of the 1st Amendment, wrote the economist
• 13:05
  and entrepreneur Phil Salen in a 1991 essay titled Freedom of
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  Speech and Software. Encryption can't be controlled,
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  whether or not it's powerful or has impacts on the government
• 13:17
  because it's free speech. In the early 90s, John Gilmore,
• 13:21
  who was a Co founder of the cypherpunk movement, risked
• 13:23
  going to jail in his campaign to force the government to
• 13:26
  acknowledge that regulating encryption violated the First
• 13:29
  Amendment. We basically had a community of
• 13:31
  1000 people scattered around who were all trying different ideas
• 13:35
  on how to get around the government to get encryption to
• 13:39
  the masses. What we're afraid of, of several
• 13:42
  years from now is the terrorists both hit their encryption button
• 13:45
  on the telephone and even though we have access, we can't
• 13:48
  understand what they're saying on a real time basis.
• 13:51
  The Clinton administration told Congress that Americans have no
• 13:53
  constitutional right to choose their own method of encryption
• 13:57
  and push for legislation that would require companies to build
• 14:00
  in a mechanism for law enforcement agencies to break
• 14:02
  in. We're in favor of strong
• 14:04
  encryption, robust encryption. We just want to make sure we
• 14:07
  have a trapdoor and a key under some judge's authority where we
• 14:11
  can get there if if somebody is planning a crime.
• 14:15
  The cipherpunks look for ways to undercut the governments case by
• 14:18
  pointing out the similarities between encryption software and
• 14:21
  other forms of protected speech, with Phil Zimmerman under
• 14:24
  federal investigation for making his software available for
• 14:27
  download outside the US. To prove a point, he convinced
• 14:31
  MIT Press to mirror his action in the analog world by printing
• 14:35
  out the PGP source code, adding a binding and shipping it to
• 14:38
  European bookstores. The government knew if they went
• 14:41
  to court to suppress the publication of a book from a
• 14:45
  university that they would lose and they would lose in a hurry.
• 14:48
  There were people who actually got encryption code tattooed on
• 14:52
  their bodies and then started asking, can I go to a foreign
• 14:56
  country? We printed up T-shirts that had
• 15:00
  encryption code on them and submitted them to the government
• 15:03
  Office of Munitions Control. Can we publish this T-shirt?
• 15:08
  Ultimately, they never answered that query because they realized
• 15:12
  to say no would be to invite a lawsuit.
• 15:14
  They would lose and so the best answer was no answer at all.
• 15:18
  Talk a little bit more about. Encryption technology?
• 15:21
  No. No.
• 15:25
  Thank you. I I.
• 15:27
  Hesitate even to make. Use the word but I'm not.
• 15:29
  Using it anymore, right? In 1996, the Justice Department
• 15:33
  announced that it wouldn't pursue criminal charges against
• 15:36
  Phil Zimmerman, and major court victories came when two federal
• 15:39
  judges found that encryption is protected by the 1st Amendment.
• 15:43
  The crypto wars are still ongoing.
• 15:45
  What we won in the first round was the right to publish it and
• 15:49
  the right to put it in mass market software.
• 15:51
  But what we didn't actually do is deploy it in mass market
• 15:55
  software. Now there are major companies
• 15:59
  building serious encryption into their products, and we're
• 16:03
  getting a lot of pushback from the government about this.
• 16:05
  We're about the rule of law, but we don't want to create spaces
• 16:08
  that are beyond the reach of the law in the United States, right?
• 16:10
  It's not. Just the reprehensible behavior.
• 16:13
  Of sexual. Predation on children.
• 16:15
  But myriad additional. Forms of serious crime.
• 16:18
  Enabled by. End to end encryption.
• 16:22
  I'm not optimistic that privacy will prevail in the crypto wars.
• 16:27
  It's an ongoing struggle. Let's be honest, this isn't
• 16:31
  necessarily about stopping crime so much as it is about
• 16:34
  preserving control. Now let's take a breather
• 16:38
  because while our governments may be trying to criminalize
• 16:41
  privacy, Bitcoin miners are out there doing the exact opposite,
• 16:45
  securing your freedom. So here's how you can support
• 16:49
  mining that actually supports you.
• 16:51
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• 16:53
  Then you should check out SaaS mining.
• 16:56
  It's not hosted mining, it's mining as a service that
• 16:59
  actually puts bitcoiners first. You can own a state-of-the-art
• 17:03
  mining rig, plug into affordable carbon free energy and stack
• 17:08
  Bitcoin just like Satoshi. No middle men, no markups and no
• 17:13
  worries. SAS doesn't tack on extra fees
• 17:16
  when you sign up. And unlike other companies,
• 17:19
  there are no rig up charges or inflated power rates.
• 17:22
  Their entire business model is based on a clean and simple
• 17:26
  revenue share. They only earn Bitcoin if you
• 17:29
  are too. A total alignment of incentives
• 17:31
  and 100% Bitcoiner values. While some claim simplicity, SAS
• 17:36
  Mining proves it. Let's just say that if you need
• 17:39
  a compass to find your miners, you're not in the right place.
• 17:42
  This is how Bitcoin mining should have always been done.
• 17:45
  Visit sasmining.com or scan the QR code to learn more and start
• 17:50
  hashing. Now let's get back to the show.
• 17:52
  We're actually seeing the downstream effects of the
• 17:56
  stablecoin legislation passing in the US.
• 18:00
  Other places in the world now, like in the UK, they're limiting
• 18:03
  how many dollar stable coins are attempting to limit how many
• 18:06
  dollar stable coins AUK citizen can hold.
• 18:09
  And then we're seeing, you know, massive banking in Vietnam.
• 18:13
  You know, I think it was something like 70 something
• 18:15
  million bank accounts were closed, you know, basically
• 18:19
  saying, you know, we'll rebank you if you agree to this
• 18:23
  biometric stuff and, you know, basically implemented digital
• 18:27
  ID. And I think the reason for that
• 18:30
  is, you know, when there's a proliferation of U.S. dollar
• 18:36
  stable coins across the world and, you know, now there's even
• 18:40
  avenues for yield to be given to those stable coins, which we're
• 18:43
  going to see right at some point.
• 18:46
  You know, why would any foreign national hold anything other
• 18:49
  than, you know, dollars, hopefully, you know, Bitcoin,
• 18:52
  if, if, if you're into that. But why would you hold a local
• 18:55
  currency when you can hold dollars, get yield from it, And
• 18:59
  all you need to do to get to it is have, you know, a smartphone.
• 19:02
  So I think countries around the world, the euro, you know, the
• 19:05
  ECB is now putting out comments being like, we're screwed if we
• 19:10
  let the dollar stay with goings take over because why would you
• 19:12
  want to stay in the euro when you can get dollars with yield?
• 19:16
  So we're going to actually see, I think the rest of the world
• 19:19
  first implement a lot of restrictions on people via
• 19:24
  digital ID and, you know, choking these on ramps to stable
• 19:29
  coins because people are going to massively, you know, flight,
• 19:32
  you know, just incredible capital flight from the local
• 19:34
  currencies. You know, and they want to keep
• 19:36
  that money in their country. Otherwise, you know, they're
• 19:39
  fucked. They don't want you putting
• 19:40
  their their money in U.S. debt or, you know, in tethers, you
• 19:43
  know, they want to keep you in, in your local currency.
• 19:46
  So we're already starting to see the downstream effects
• 19:49
  internationally from the genius act as it relates to like, let's
• 19:54
  prevent capital flight because all the country of all the money
• 19:57
  leaves the country, you know, we're kind of screwed.
• 19:59
  So it's a remains to be seen how they'll do it in the US what
• 20:02
  carrot they'll dangle, whether it's some Ubi or some, you know,
• 20:06
  yield thing or something that gets American citizens to comply
• 20:11
  with this stuff. But we're already starting to
• 20:13
  see it as like a defensive maneuver.
• 20:15
  From foreign nations to like prevent capital flight via
• 20:19
  stable coins. So This is why you, the viewers,
• 20:22
  should care. The more information centralized
• 20:24
  institutions have on you, the more power they gain to shape
• 20:28
  your behavior not by force, but by subtly creating incentives
• 20:32
  based on information they gather and building an artificially
• 20:36
  comfortable world just for you. Free will becomes managed
• 20:40
  consent. You give them the data, they
• 20:43
  build the walls, and before long you're living the soft Truman
• 20:47
  Show curated around your identity.
• 20:50
  Today, he's making his. Turn on the Lancaster.
• 20:52
  Square. And if that beep just blew your
• 21:07
  eardrums out, imagine how uncomfortable it will be when
• 21:11
  the powers that be know your every intimate detail.
• 21:14
  Privacy isn't for people who are hiding things.
• 21:17
  Privacy is a right for everyone and people don't want to be
• 21:21
  manipulated anymore. If you have a digital ID, then
• 21:26
  if you look at Australia for example, now with the digital
• 21:29
  Identity Bill that have passed, your identity is revealed to the
• 21:34
  state for almost any action that you take, especially online
• 21:39
  actions. You surf the Internet, you are
• 21:42
  identified on the Internet. They are able to say to tell
• 21:46
  which websites you went to, what did you purchase, how much time
• 21:50
  you spent online, whatever social media, your opinions,
• 21:54
  you're what you're identified. And so imagine that you're
• 22:00
  identified and your dissident voice is now known to the
• 22:04
  government. They can use AI to just really
• 22:10
  analyze quickly large sums of data and say all the people that
• 22:15
  talk about whatever permaculture right now, we want to put them
• 22:21
  in a cat, in a segment them into a database, see what they're
• 22:25
  saying about it, pull out those keywords out of it.
• 22:28
  And all the people that are looking at permaculture in order
• 22:30
  to avoid the state control over food.
• 22:34
  I'm just giving an an example of the top of my head.
• 22:37
  Yeah, let's go after them. They're identified and then
• 22:40
  let's give them a quota of their CBDC of how much they can use to
• 22:46
  buy fertilizers for, for example, because they're going
• 22:49
  to grow their own food. And we don't want them to do
• 22:51
  that. We want them to buy the the
• 22:53
  industrial food in the supermarket because we don't
• 22:55
  want to hurt the economy, right? They have reasons for
• 22:59
  everything. I'm just giving in.
• 23:00
  There are so many examples you can make up.
• 23:02
  So while everyone is arguing whether Bitcoin is going to 80K
• 23:07
  or 150K first, the real battleground isn't on the chart.
• 23:11
  It's actually on your right to use Bitcoin without permission.
• 23:16
  Volatility is temporary, surveillance is permanent.
• 23:20
  And if you understand that, then Bitcoin at a discount isn't a
• 23:24
  threat. It's actually a tremendous
• 23:26
  opportunity to opt out before digital ID becomes the default
• 23:31
  for everything, including your money.
• 23:33
  Because here's the truth. Bitcoin exposes how much of the
• 23:37
  current system depends on total monetary control.
• 23:40
  And that's why they're acting so desperate.
• 23:42
  They're showing you the world they want, and the question is,
• 23:46
  are you going to help them build it or are you going to opt out
• 23:49
  and join the peaceful revolution?
• 23:51
  Let me know in the comments. Surveillance is the license
• 23:55
  given to the people who are on the top of that to control our
• 24:01
  lives. They will commit crimes.
• 24:06
  They will commit the worst of crimes, what I call mega crimes.
• 24:12
  And I know Britain doesn't use the metric system, so mega is
• 24:15
  the prefix we use for millions. A megacrime is 1 where, for
• 24:19
  example, you foreclose on a million homeowners and don't go
• 24:23
  to jail. That's a megacrime.
• 24:26
  We're doing surveillance and analytics to catch a petty drug
• 24:31
  dealer who's selling pot for Bitcoin.
• 24:35
  Who's doing surveillance and analytics on Lockheed Martin,
• 24:38
  who's doing surveillance and analytics on the money
• 24:40
  laundering banks? Nobody.
• 24:42
  Do you know why? None of them ever go to jail?
• 24:46
  The regulators are completely captured.
• 24:48
  And the very system of controlling finance from above
• 24:53
  by having levers of power over the lives of millions of people,
• 24:58
  billions of people, of having the audacity to cut off entire
• 25:02
  countries and say, well, they're under sanctions, they're not
• 25:06
  privileged enough, they're not people enough to gain financial
• 25:08
  services. Guess who that attracts?
• 25:11
  If you build levers of power like that, the very worst
• 25:15
  sociopaths in our society are attracted like flies to shit to
• 25:22
  grab hold of those levers of power and destroy all of your
• 25:26
  freedoms as quickly as they can. We are building societies in
• 25:31
  which one bad election is the last election.
• 25:36
  And if you don't believe me, look at what's happened in
• 25:39
  Turkey, what's happened in Russia, what's happened in
• 25:42
  Venezuela, what happens every day to billions of people around
• 25:47
  the world. Let me end on a positive note,
• 25:52
  because you're probably a bit freaked out by all of this.
• 25:56
  You should be. This is serious stuff.
• 26:01
  Open, borderless, public, transparent, neutral, censorship
• 26:06
  resistant, strictly private cryptocurrencies exist.
• 26:12
  They will not be regulated. They cannot be regulated, not by
• 26:19
  committees, because they're regulated by mathematics.
• 26:22
  They're regulated by algorithms. They provide certainty of
• 26:27
  transaction. They provide programmable
• 26:30
  customer protection. They provide reputation
• 26:34
  management. They provide access without
• 26:39
  identity. They give billions of people
• 26:44
  eventually not just a bank account in their pockets, but a
• 26:51
  bank in their pockets. They democratize the function of
• 26:56
  banking and turn it into an app that everyone can access without
• 27:00
  vetting because they've already pre vetted.
• 27:07
  They have agreed to download the software that follows the rules
• 27:10
  of consensus and that is the only vetting required in these
• 27:14
  systems. But we shouldn't allow that.
• 27:24
  We did. But we can't have people make
• 27:28
  anonymous transactions. They will, but we must regulate
• 27:34
  this. You can't and you won't, because
• 27:41
  6 billion people need this and you have neither the moral
• 27:46
  authority nor, more importantly, the practical capability to
• 27:52
  stand in their way, or even to stand in the way of what is
• 27:57
  going to be the greatest revolution in financial services
• 28:01
  in three centuries, universal access to to basic finance.
• 28:07
  Before we wrap up the show, let's bring this home with a
• 28:10
  special message from our friends at Leaden.
• 28:12
  If you're sacking sats, you need Bitcoin backed services you can
• 28:16
  trust. That's why we roll with Leaden,
• 28:19
  the global leader in Bitcoin backed lending.
• 28:22
  Leaden has issued over $9 billion in loans since 2018 and
• 28:27
  a perfect record of protecting client assets.
• 28:30
  Why is a Leaden loan different? Collateral is not lent out to
• 28:33
  generate interest. No credit check funds in 24
• 28:37
  hours, no monthly payments, repay whenever you want, 0
• 28:42
  penalties and their proof of reserves verified every six
• 28:46
  months. Keeps them transparent let and
• 28:48
  lets you unlock liquidity without selling.
• 28:51
  Sign up through Simply Bitcoin for 25 basis points off your
• 28:55
  first loan. Scan the QR code or click the
• 28:57
  link in the show notes below to get your discount today.
• 29:01
  Now let's wrap up the show. So be honest with me.
• 29:05
  Are people distracted by the price and not focused enough on
• 29:08
  the imminent attack on privacy happening right now?
• 29:11
  Because yes, the price matters, but does it really matter if
• 29:15
  you're not able to transact in the way that Satoshi intended?
• 29:18
  Drop your thoughts in the comments, I read them all.
• 29:21
  Anyway, that's our show for today.
• 29:23
  Thank you guys so much for watching.
• 29:25
  If you haven't already, please hit the like and subscribe and
• 29:28
  share the show with your friends.
• 29:30
  I'm your host, Sophie. And as always, stack, Sling and
• 29:34
  stay bullish baby.