Latest / Simply Bitcoin / This Could Make BITCOIN DOUBLE in Price in Two Weeks | EP 940

Transcript

This Could Make BITCOIN DOUBLE in Price in Two Weeks | EP 940 · Simply Bitcoin

0:04
It's all going to zero against Bitcoin.
0:07
It's going up. Forever.
0:16
You're against Bitcoin. You're against freedom.
0:23
Yeah. Welcome to another episode of
0:25
Simply Bitcoin Live or Number one source for the Peaceful
0:27
Bitcoin Revolution Club. Breaking News Culture Medic
0:29
Warfare will be your guide through the separation of money
0:32
and state. We did break all time high, so I
0:34
am pulling out Satoshi the Bitcoin chicken.
0:38
God damn. It's been a really, really,
0:40
really long time since we've been able to do that.
0:43
For anyone who's not a simply Bitcoin OG you don't remember,
0:46
this is socially the Bitcoin chicken he clucks every time the
0:48
price of Bitcoin breaks an all time high.
0:49
Which it did this. Morning.
0:51
We hit $69,250. We kissed it and then there was
0:56
a bit of a dump. But boy oh boy does it feel so
1:00
good to be back at these places. I tweeted this out not too long
1:06
ago. Last time Bitcoin was at
1:09
$69,000, the hash rate was four times lower.
1:13
There was no spot Bitcoin ETFs. Wall Street was not interested
1:18
nation states or were not mining it.
1:22
Ladies and gentlemen, buckle up, things are going to get crazy.
1:26
Also very interesting kind of takes coming out of Dylan
1:30
Leclair and Anthony Pompiliano. And if you take a look at
1:34
Bitcoin from historical sense, every time the price of Bitcoin
1:39
or most of the time or like three, 7580% of the time, that
1:44
Bitcoin breaks an all time high. The price double S in like a
1:47
matter of weeks, like it's it's something crazy like that.
1:51
So will it follow? I don't know.
1:53
But we are in uncharted territory.
1:55
We've never been in a position where Bitcoin breaks all time
1:59
high before the halving, right? So we're in uncharted territory
2:04
and I suspect it has to do with the spot Bitcoin ETFs.
2:09
We showed you guys the data, right?
2:12
Wall Street is buying like on average between 7000 to 10,000
2:16
Bitcoin per day, there's only 950 Bitcoin being mined and that
2:20
is about to get cut in half in April to 450.
2:25
And what that causes, ladies and gentlemen, is absolute supply
2:30
shock. So Wall Street is meeting
2:32
absolute scarcity. That's why all this is happening
2:35
right now. It's very, very exciting times.
2:37
Ladies and gentlemen, if you've been holding, if your class of
2:40
2021, if your class of 25th, 2017, if you are, you know, an
2:45
OG class of 20, 2013, 2015, this, these are the moments.
2:51
These are the days that you live for.
2:53
This is your ultimate absolute vindication.
2:57
This is when you start getting texts from friends and family
3:00
asking you what is going on with Bitcoin.
3:04
Michael Saylor continues to double down.
3:07
He announced MicroStrategy, announced a proposed private
3:10
offering of $600 million of convertible senior notes.
3:15
To do what, Of course, to buy more Bitcoin.
3:18
Speaking of Michael Saylor, I was just with Michael Saylor,
3:21
McCormack, Lavish and all these awesome Luke Broyles and all
3:27
these awesome Bitcoiners. We were in Bitcoin, Atlantis and
3:31
Maleida Portugal. It was this amazing Bitcoin
3:34
conference. I highly, highly recommend going
3:36
it. Going to it next year.
3:38
Jack Dorsey was there. So many.
3:40
So many awesome. Samsung Mao was there.
3:42
So many awesome Bitcoiners. I highly recommend going to the
3:45
conference. It's actually not that
3:47
expensive. It's a lot.
3:49
It's a lot less expensive than you might think, but incredible
3:52
time. And of course shout out to Opti
3:54
for holding it down all these last couple of days.
3:57
Anyways, no more delay. I do want to bring up my
3:59
legendary Co host who is always a Mystic.
4:01
His name is Optimus Field. He is smiling.
4:04
I caught him in a smile today, which means it's going to be a
4:07
great show. How you doing Opti?
4:09
I'm doing well. How can we not be doing well?
4:11
Guys? We're so bad, you know?
4:16
Hey, we need to get the Satoshi chicken to collect more or I'm
4:20
just going to Co opt it and just hit horns.
4:23
You need to put it near the mic like it needs to.
4:27
There we go. There we go, Satoshi.
4:29
Bitcoin chicken is clucking because the price of Bitcoin did
4:32
break all time highs. Man, it feels good.
4:35
It feels good to be right. It feels good to be back.
4:37
But like, what's crazy though, dude, is that like, we're we're
4:40
like, it's like, OK, we're back, but like, we're not back.
4:43
Like this is just getting started.
4:46
This is just getting started. Ladies and gentlemen, we have
4:48
two more years of this or maybe a year and a half left, left
4:52
left of this. It's gonna be an absolute party
4:56
and trends are still not picking it up.
4:58
Google Trends, YouTube View Trends, they're still they, they
5:03
still haven't got the memo yet. So people are still asleep to
5:06
this. Which leads me to believe that
5:09
the party is just getting started even though we just
5:12
broke all time high. Well.
5:14
Anika, there is one trend. There is one trend that is
5:17
picking up, and it is the corporate press coping with the
5:21
fact that they aren't. Holding We're gonna, we're
5:23
gonna, we're gonna play that. We're gonna play that for you
5:26
guys today. Don't, don't worry.
5:28
Let's go. That trend is improving.
5:30
That trend we. We we have that for you guys.
5:33
We have the videos, yes, the the the legacy corporate media is
5:36
absolutely coping. It would be the correct word.
5:40
Strong cope. They can't believe this, but
5:43
this is vindication. Ladies and gentlemen, these are
5:45
the days that you will remember. You know when, 5050 years from
5:50
now, 40 years from now, 30 years from now, when they'll tell you,
5:53
they'll be asking you about the early days of Bitcoin.
5:56
You will be telling them about these moments, right?
6:00
You know about how you were holding it down.
6:01
Everyone was questioning you. The attacks from the legacy
6:05
media, the the cope from the central bankers, Christine
6:08
Lagarde freaking out, all these things.
6:11
These are the days you're going to remember and you'll get to be
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able to say to your children that you were part of the
6:17
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At the time of recording, the Bitcoin price is 64,470.
9:23
It's over SATS per dollar 1551 block height 833,290 blocks to
9:32
having 66,710 blocks to having having Estimate April 20th 2024
9:40
Total Lightning network capacity 4403 Bitcoin capacity value
9:45
283,000,000 U.S. dollars Realized Monetary inflation
9:50
1.74% The market capitalization of Bitcoin We're just getting
9:54
started 1.27 per trillion and the Bitcoin versus gold market
9:59
cap almost at 10% is at 9.16%. Hey, Nico.
10:05
Before we go on guys, remember we were talking about the market
10:08
cap of Bitcoin reaching silver. Well, we slightly passed it last
10:12
night and this morning. You know, on this retrace, we're
10:15
a little under, but hey, we're demonetizing silver in real time
10:19
and it's going to go. Parties Just getting started
10:21
ladies and gentlemen. By the way, if you guys are
10:24
enjoying the show, if you're watching us on YouTube on Rumble
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on X, the platform of your choice, make sure to smash that
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like button. Really, really helps with the
10:33
algos. Really, really helps push the
10:36
peaceful Bitcoin revolution. Helps us push the orange signal
10:40
forward. Anyways, we did break an all
10:42
time high. We broke $69,250.
10:47
It's official 6 Bitcoin has passed the all time high of the
10:53
last cycle and of course there was an absolute drop because of
10:57
that. But I don't know guys, I'm.
10:59
I'm going to show you some information today.
11:01
Stay tuned till the end of the show to the news section or I'm
11:04
going to show you that historically when Bitcoin breaks
11:07
all time highs, it tends to double within a matter of weeks.
11:12
Is it going to continue that pattern?
11:14
Who knows? We shall see.
11:16
But all I know is that Wall Street wants a ton of Bitcoin
11:19
and there's not enough Bitcoin to go around.
11:22
Here's Neil Jacobs, he's pointing out.
11:23
He's posting a clip from CNNBC. He says the cope and anger here
11:29
is amazing, and it's 100% true. This is the vindication of not
11:33
only yourself, of Michael Sealer of Nayan Bukele.
11:38
This is vindication, right? All the naysayers, all the
11:42
detractors, all the people that were saying you know there's
11:45
nothing that backs Bitcoin. This is BS.
11:48
The central bankers that saying it's not real money, they got it
11:52
wrong. Bitcoin has made an all time
11:54
high against all central bank money.
11:58
OK, so the central bankers could say anything they want to say,
12:02
but the fact is that why does Bitcoin keep making all time
12:06
highs in their currency? It doesn't.
12:08
It should tell you everything you need to know about what is
12:11
the better money. Anyways, let's check out the
12:13
clip. Welcome back.
12:15
Take a look at Bitcoin. There it is.
12:17
Over 67,000. We're approaching all time
12:20
highs, Mr. Weiss. Yep, it's another 7% today.
12:24
What What? What's behind this?
12:25
Other than your momentum? Momentum's there's still no use
12:29
on. Well there are a few things.
12:31
Momentum. You know, Kramer came out today
12:33
and said he thinks it's because people trust VI guarantees less
12:36
because of everybody's upside down is in debt to GDP.
12:40
I don't really think that's the case.
12:40
I just don't think they're that big deeper.
12:42
Sure, there's a small element that believes that all
12:44
economies, all, you know, all or all sovereigns are are going to
12:48
hell so they can hide Bitcoin. That's not it.
12:50
It's purely the marketing power right now.
12:51
BlackRock of fidelity and more to come.
12:54
But show you how ridiculous it is, Bitcoin isn't even the top
12:56
foreign currency. I think Bite the dog or whatever
12:59
the hell currency's name is up 400%.
13:01
I mean it's just like. It's like a perfect storm for
13:04
this particular asset class right now between the approval
13:08
of the ETFs and the biggest names in the asset management
13:10
business. Get it getting into it with some
13:12
speculative fervor in parts of the market, biotech maybe here
13:16
too and overall risk of complete, complete, perfect,
13:19
complete perfect storm. I think you have to look at the,
13:21
the, the two products that investors really focus on #1,
13:25
obviously Bitcoin, which has been traditionalized with the
13:27
advent of the ETFs. Here's the interesting one and
13:29
here's the thought. You have Bitcoin up 58%, you
13:32
have Ethereum up 57%. Ethereum doesn't have the ETF
13:34
yet. So you have a lot of people who
13:36
are going to own Ethereum on the belief that an ETF is coming.
13:39
Is Ethereum riding the back of Bitcoin or is Ethereum rally on
13:43
the belief that the ETF is coming?
13:44
Because if it's rallying on the back of Bitcoin, then there's so
13:46
much more alpha that can be generated.
13:49
And owning Ethereum relative to Bitcoin because the ETF is not
13:51
there yet. Yeah, I I don't, I don't
13:53
disagree with that, but I don't think that deeply.
13:54
I just think it's, you know, cheap, you know, being let's do
13:57
we replay that like multiple times over the next 10 years.
14:00
I don't think that deeply, guys. Deeply in the control room.
14:03
Cut it. Cut it now and save it.
14:04
Send it to me so we all preserve a coffee forever.
14:06
We're going to be the National Archives of you Weiss.
14:08
You know I got to be careful Any edge I give you in that regard,
14:11
that being one. But but it's also the SEC came
14:13
out and didn't get in the way. Basically, you know investors
14:16
think, OK now it's safe. The SEC blessed the courts,
14:18
blessed me, but it's pure momentum.
14:21
Yeah, I mean it's pure momentum like that the I've heard that
14:24
like you know so many times he that person said there's there's
14:28
no use, there's no use case. I mean the use case is that it's
14:33
a better money, right. Like we we've shown you guys the
14:36
website priced in Bitcoin so many times.
14:40
I did AIII, literally did a presentation at Bitcoin
14:42
Atlantis. I literally pulled up a
14:44
screenshot of price on Bitcoin. Every single Fiat currency is
14:48
down. That if you've been living on a
14:51
Bitcoin standard, everything has gotten cheaper.
14:54
The S&P 500 has gotten cheaper. Housing prices has gotten
14:58
cheaper. Gold has gotten cheaper.
15:00
Oil has gotten cheaper. If you've been saving in
15:03
Bitcoin, that is the use case. It is the best savings vehicle
15:07
the world has ever seen. That is the use case.
15:11
It is the best money the world has ever seen.
15:13
That is the use case. It is unconfiscatable wealth
15:17
that is the use case, right? It is peer-to-peer money that is
15:22
the use case, right? It is backed by the largest
15:26
decentralized computing network in the world that isn't run by
15:31
coercion. It's run by mere incentives
15:34
alone that was attacked by one of the most powerful nation
15:37
states in the world and without any central authority telling
15:41
them to relocate to go to a more favorable jurisdiction.
15:44
The Bitcoin hash rate, meaning the amount of computational
15:48
power backing the Bitcoin network actively mining it,
15:51
recovered within nine months. And here we are making an all
15:55
time high before the halving. The incentives are so strong
15:59
that yes, BlackRock is advertising is is you know,
16:02
advertising Bitcoin. Yes, all these money managers
16:07
are actively advertising for Bitcoin.
16:09
Why? Because it's just better.
16:11
So you can talk the talk, you can say it has no use case and
16:16
you know what? You're going to get left behind.
16:18
I don't think it's a coincidence that the Vanguard CEO that a
16:23
couple months ago was grant or like a month ago was
16:26
grandstanding basically saying, you know what, we're not going
16:28
to add that to Vanguard. We can't do that.
16:30
It's crypto. It's too risky.
16:32
It's Bitcoin dot this, this, that.
16:35
And now he just announced his retirement a week ago.
16:39
If you choose, if you're a money manager, if you're an
16:42
institution and you decide to take an ideological stance and
16:47
not offer Bitcoin to your clients, like you're basically
16:53
hurting your clients. You want your clients to have
16:56
fun staying poor, Full stop. And you know what the beautiful
16:59
thing about free markets is? That your clients or you know,
17:03
the clients of this firm are just going to find someplace
17:06
else that does offer exposure to Bitcoin.
17:10
And you know these these small allocations initially, the 1%
17:14
allocations, the 2% allocations, the 3% allocation, what's going
17:18
to start happening is that those small allocations are going to
17:22
start outperforming the rest of the portfolio.
17:26
Then it becomes this kind of self fulfilling prophecy.
17:29
If that 1% allocation is outperforming the rest of the
17:32
portfolio, then you're going to want to put even more than 1%,
17:36
right. But this time is different,
17:38
ladies and gentlemen. The largest capital markets in
17:42
the world, which are in the US now, have the ability to get
17:47
exposure to the best asset that has ever existed in the history
17:52
of mankind. And you want to know why?
17:54
The price is where it's at. That is why.
17:57
Blick. Bitcoin is a black hole.
18:00
Its incentives are inescapable gravity.
18:03
You can't get out of it, right? So you either bow down to the
18:07
king, either get on the train or you get left behind.
18:10
And you know what? Like I I, I was, I was on a
18:13
panel, right. Which is like, are the
18:15
institutions going to make it hard for the plebs, you know, to
18:18
get Bitcoin? Absolutely, they are.
18:21
But you've had 15 years, American Hoddle's meme last
18:26
time, last cycle was 6.15. You've had four years, right?
18:32
So I mean, at this point, there's no excuse at this point,
18:37
if you're selling Bitcoin, you're 100 million percent
18:40
selling it to BlackRock. So I mean, yeah, get on the
18:44
train or get left behind. I have no sympathy for you.
18:47
And look, if if you know you have a family member, you have
18:50
your brothers and your sisters, your family, right.
18:53
You know the people around you that are close.
18:56
It is your responsibility to orange pull them to Uncle Jim
18:59
them right? To teach them how to take self
19:01
custody or to say to to take self custody for them be the
19:05
Uncle Jim, be the Bitcoin IT guy in your family.
19:08
In fact, one of our sponsors, the Bitcoin the Bitcoin way,
19:13
right, could literally do this for you, right?
19:15
So there's no excuse not to take self custody.
19:18
There's no excuse not to get yourself exposure to Bitcoin.
19:21
We literally all our partners are literally hand chosen so
19:26
that you guys could have all the platforms and tools necessary to
19:31
properly secure your Bitcoin, properly buy your Bitcoin,
19:34
properly store your Bitcoin, and even mine your Bitcoin if you
19:37
want to. So you have no excuse at this
19:39
point. I mean, that guy's just going to
19:41
get wrecked. I'm sorry, man.
19:43
Have fun staying poor. That's your choice, you know.
19:47
Good riddance. Anyways, Opti, what's your take
19:48
on all this, brother? Oh man, that I love the cope
19:53
from people, you know, like Bitcoin has no utility.
19:55
Like, OK, Boomer, whatever you say, you know the best
19:59
performing asset over the last, what, 12 to 15 years like?
20:05
Yeah, you know, someone said in the chat, like a store of value
20:08
on steroids, like what are, what are you guys even talking about?
20:11
But there was something that he said, and it's kind of
20:13
surprising considering that Kramer is the universe Kramer
20:17
meme. But.
20:18
But is Kramer actually spreading signal?
20:20
You know, people are losing faith in Fiat currencies?
20:23
It seems kind of like that might actually be what's going on.
20:27
And then to his, his wording and phrasing, you know, first of
20:30
all, what do you say? Like, I don't think deeply of
20:33
it. Like, yeah, LOL.
20:34
Of course we can tell you don't think too deeply of it.
20:37
And someone said he bought at 20 and sold at 40.
20:39
So it's just more coping. It's just more gaslighting and
20:43
and trying to get people away from actually stacking in
20:45
Bitcoin. But there is something I agree
20:47
with him where he said this is a perfect storm.
20:50
Yes, I fully agree. It's a perfect storm for bully
20:53
sentiment in Bitcoin, man. It's just it's I I can't wait to
20:57
just keep bringing these people on and and and showing the clips
21:00
of them and just bringing the receipts of them getting
21:03
absolutely wrecked and talking bad about Bitcoin.
21:06
Remember, what's that one website?
21:07
Nico. It's like the Bitcoin
21:08
obituaries. There's like hundreds of them
21:11
and they go back from some of your biggest and favorite
21:15
Keynesian economist, my favorite one, Paul Krugman, basically
21:19
saying that bitcoins basically the fax machine and it's never
21:23
gonna go anywhere. And here we are, it's pumping,
21:26
it's gonna continue to pump. Nothing has ever came back from
21:29
a 75 to what, 80% drawdown, except Bitcoin's done it five
21:34
times. Like these guys could keep
21:36
saying that Bitcoin is tulips, that Bitcoin is a speculative
21:39
asset, that there's no utility. But I don't know, maybe I'm just
21:43
seeing the game differently and a peer-to-peer money that stores
21:46
your value through time and space with no middleman.
21:48
That seems like there's some value there.
21:50
Like, oh, a pure money has no value in a world where all the
21:54
monies and currencies are going to trash.
21:56
Like you can just tell their bias and we know our bias.
21:59
We're bitcoiners, but the free market is showing us in real
22:03
time what bias is actually right.
22:06
Because no one controls Bitcoin. No amount of gaslighting or
22:11
pontification from the corporate class or the polite class or
22:16
whatever you want to call them, can stop Bitcoin from taking
22:19
over the world. It's getting adopted by
22:21
individuals. We all are falling into the
22:24
shelling point that is Bitcoin, Everyone seeing the same thing
22:28
and everyone's made that same decision and you know we just
22:31
barely kissed the all time high. Yeah, maybe it was a wake and
22:34
we'll see if we we breakthrough it convincingly later.
22:37
But man, it looks like this week we're going to breakthrough the
22:41
all time high and just start, start the run the bull has begun
22:45
its run the bull. Has begun.
22:48
Exactly. Amen.
22:49
Amen to that. All right, ladies and gentlemen,
22:51
I do want to give a shout out our new merch drop.
22:53
It just came out. We partnered up with a awesome
22:57
Bitcoin artist the way that you guys get yourself, by the way,
23:01
get it While supplies last, you can scan the QR code that OPTE
23:04
just put up on screen. Take you directly to the
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All right everybody, let's get to the news.
23:47
We got a lot to talk about the Daily News.
23:53
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your Bitcoin if your Bitcoin is on exchange.
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If you have a what we call captured Bitcoin, a spot Bitcoin
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Foundation Devices quick ETF update.
25:38
Black Rocks ETF now currently holds 170,000 Bitcoin.
25:43
The Fidelity ETF currently holds 110,000 Bitcoin.
25:49
And just to kind of give a little bit of perspective,
25:52
MicroStrategy holds 193,000 Bitcoin.
25:56
Blackrock's almost there, right? It took MicroStrategy like three
25:59
or four years to get to that amount.
26:01
It took BlackRock like a month and a half.
26:04
And you want to know why we're at these prices so quickly
26:08
before the halving. This is why Wall Street
26:13
institutional, institutional demand, the the generation that
26:19
holds the lion's share of the world's wealth is the Boomer
26:22
generation. And you know what they they like
26:25
these vehicles. They like the fact that they can
26:27
open their Charles Schwab account, they can purchase some
26:30
Bitcoin, get exposure to Bitcoin, and you know, that's
26:33
what BlackRock facilitates, right?
26:35
So anyways, quick ETF update. We like to do this every single
26:39
day. In other news, MicroStrategy
26:41
announces proposed private offering of 600 million of
26:46
convertible senior notes. We'll we'll get into more of
26:49
that tomorrow. But it can.
26:51
It looks like Michael Saylor continues his speculative attack
26:55
on the dollar, right? Here's even Peter Schiff.
26:58
That's right. This isn't a meme of parody
27:00
account, he says. You're clearly insane.
27:03
A a modern a modern day ahab fixated on Bitcoin rather than a
27:08
white whale who will captain MicroStrategy into blank
27:12
bankruptcy. I don't know about you, Peter
27:14
Schiff, but the MicroStrategy stock is hitting all time.
27:17
High hit $1250. MicroStrategy House out competed
27:24
everything else including the S&P 500 including all the Fang
27:28
stocks, all the tech stocks, right.
27:30
It looks like MicroStrategy Bitcoin Strategy is the
27:34
strategy. Let the numbers speak for
27:36
himself, speak for themselves. And it looks like Michael Saylor
27:40
is continuing to do that. All right, so I want to talk
27:42
about today's topic, today's episode, today's title, right.
27:46
And this is what I said. I said Bitcoin is catching up to
27:48
what 2021 should have been if it wasn't for the China ban and
27:52
FTX. This cycle should be wild.
27:55
So before I get into the FTX stuff, I do want to focus on the
28:00
China ban, OK? Because it played a really,
28:03
really, really big role in my opinion.
28:06
And obviously that's not happening this time.
28:08
The hash rate continues to make all time high and of course a
28:11
lot of those miners are located in more favorable jurisdictions.
28:15
So what happened? So this the the dotted line up
28:18
top that was the price of Bitcoin and it just fell off a
28:22
Cliff. If you take a look at the hash
28:25
rate, it did almost the same thing.
28:28
The hash rate dropped 50% and all those miners that were
28:32
located in mainland China had to sell not only Bitcoin but also
28:37
sell their mining equipment and also re sell their mining
28:40
equipment. They've had to sell more Bitcoin
28:43
in order to build out infrastructure and more
28:45
favorable jurisdictions. I believe that this was the main
28:49
catalyst why Bitcoin did not hit 100K in the last cycle of 2021.
28:56
I believe that what we, I believe that the reason that it
28:59
was a little bit muted, it didn't reach its full potential.
29:02
It tried right. You know, it gave it, it gave
29:04
it, you know a round two is because of the China ran.
29:07
I believe that was the primary reason that it didn't do that.
29:11
A lot of other people speculate that it was another reason.
29:15
Here is Vijay Boyapati, the author of The Bullish Case for
29:18
Bitcoin. And he said the last last
29:19
Bitcoin cycle was muted because of a combination of fraud by
29:23
people like SPF Machinsky and Barry Silbert, plus an
29:27
unprecedented tightening of monetary policy by the Federal
29:31
Reserve. And I completely agree, by the
29:33
way, with those other factors. I'm just not not as informed as
29:37
Vijay on those other factors. But yes, SPF Machinsky, Barry
29:42
Silbert selling paper Bitcoin, meaning people were buying
29:46
Bitcoin on on their exchanges, but they didn't actually have
29:50
that Bitcoin to sell, right. And of course, you know, if they
29:53
if they were just selling paper Bitcoin, that means that they
29:56
didn't have to go out of their way to get that Bitcoin that
29:59
they're selling on the market, meaning the price would go up,
30:02
right. So of course that caused
30:04
downward cell pressure and of course what VJ is saying here,
30:07
the unprecedented tightening of monetary policy by the Federal
30:11
Reserve. So three major factors.
30:13
I completely agree. I'm a my, you know, my
30:16
background is in mining. I look at it from the mining
30:18
perspective, that hash rate drop was a big deal.
30:21
And I don't know you guys, you look at look at this yourself
30:24
and you tell me if that's a coincidence or not.
30:26
But you know what's what's different this time is that
30:29
Bitcoin is back at all time highs, but the hash rate is 4
30:33
times higher. So theoretically this means that
30:38
Bitcoin is more computationally secure.
30:41
Absolutely bullish anyways. So moving on to this Jimmy Song
30:46
said feels like 2017. I completely agree.
30:49
I think this cycle I I I feel it and I feel it when people when
30:53
people talk about it right, they say stuff like diminishing
30:57
returns. They say stuff like you know
30:59
it's going to hit 100 KA 150 Ki don't know what the what the
31:02
total price is, where it's going to end up.
31:05
But guys like, you know, usually Bitcoin does the exact opposite
31:10
of what the majority thinks it's going to do.
31:12
I I I do feel 2017 vibes. I feel like we were so you know
31:18
like hit square in the jaw last cycle.
31:21
I feel like 2021 was such a let down for a lot of people.
31:25
I think people were anticipating you know, 100K Bitcoin by 2021
31:30
that I think a lot of us suffer from PTSD.
31:33
And I think, you know, I I think bitcoins slowly making up making
31:38
up for that fact, right. And that's why I think it feels
31:41
a little bit different. But here's Jimmy Song.
31:43
Jimmy Song has a interesting observation again in relating to
31:48
2017. He said in 2017 my follower
31:50
account overtook the Bitcoin price.
31:53
Bitcoin price has a chance to overtake it this year.
31:58
What is his follower account 330 Ki mean?
32:04
Does it sound so crazy like with these absolute run ups?
32:07
Does it sound so crazy with BlackRock gobbling up the amount
32:11
of Bitcoin they're gobbling up? And remember, the supply gets
32:15
cut in half in April. And then this brings me to this
32:19
next tweet by Vijay once again, and he says, just to give you an
32:22
idea of where we're going, the area on the right from this
32:26
cycle is equivalent to the area on the left from the last cycle,
32:29
right. So this is what we felt, right?
32:31
This is what we felt this these last couple of months, the run
32:35
up from 2022 K to 69 K that we hit today.
32:41
When you look back on the Bitcoin charts, this is what
32:44
that's going to look like. This is what that's gonna look
32:47
like when the price of Bitcoin is in the hundreds of thousands
32:51
of dollars, right? It's gonna make the little moves
32:53
in the beginning look like nothing.
32:55
And now why am I saying this? Like, what is the data to
32:58
actually back that up? Usually when there's a lot of
33:00
interest, there's a lot. And OPTI, and I see this and you
33:05
just see this on Google Trends and you just see this.
33:07
You have retail, you have a lot of people that are interested in
33:10
the price. You have a lot of people asking
33:12
questions. If you take a look at this data,
33:15
right, which perfectly coalines with the peaks of Bitcoin, right
33:20
in January 2021, this is the amount of the YouTube views for
33:25
some of the most popular Bitcoin and crypto channels.
33:28
Sorry you had to put crypto in there just because of the way
33:31
that this analytics is is set up.
33:33
They don't really have a lot of Bitcoin channels.
33:36
But take a look at the pumps, right?
33:38
Look at the amount of views. It perfectly coal lines with
33:41
what the all time high that we made last time.
33:44
Now we're we've passed that all time high.
33:47
But take a look at the views. The views haven't even come
33:50
close to the all time highs of the previous cycle, which tells
33:54
me not only instinctively but also VJ's hypothesis here that
34:01
he's absolutely right. We're in the very, very
34:03
beginnings of this thing, of this thing heating up.
34:07
Now I want to go and loop back to the original topic of this
34:13
video. Right, which is every single
34:16
time Bitcoin has done this. Or not every single time, but
34:21
three or four, Four out of the five or three out of the four
34:24
times Bitcoin breaks an all time high, it double S in a very
34:28
short period of time. Here is Dylan Leclair.
34:32
He said the time it took Bitcoin to double after previous breaks
34:35
of all time highs December 20, 2018 days March 20, 1784 days
34:43
November 20, 1310 days March 20, 1318 days.
34:50
So I mean we can double, which think about it that you know,
34:57
70K Bitcoin, you multiply that by two, that's $140,000 in two
35:05
weeks, maybe 80 days, that's three months.
35:10
Can you imagine 170, a $140,000 Bitcoin in three months?
35:15
No, you would not believe me. But would you have believed me
35:19
if I told you when we're sitting at 25 K in October, November of
35:23
last year that Bitcoin was going to be, that Bitcoin was going to
35:28
make all time highs before the halving?
35:31
You would have laughed me out of the effing room.
35:34
So never underest the honey, never underestimate the honey
35:37
badger. And you have to understand that
35:39
this cycle is different. The reason that this cycle is
35:43
different is because of the amount of institutional interest
35:48
and because of Bitcoin's absolute scarcity.
35:52
It makes it incredibly different.
35:54
Look, if the price of gold goes up, the amount of gold
36:00
production goes up with it. If the price of Bitcoin goes up,
36:06
the production of Bitcoin stays the same.
36:09
Not only does it stay the same, it gets cut in half, and next
36:15
month it's going to get cut in half.
36:18
Are you not entertained by now? Do you not see that?
36:23
What is lining up the epicness that is lining up?
36:27
I'm OK, I'm going to end the new segment with this.
36:29
This was Anthony Pompliano on CNNBC this morning and he
36:34
explained exactly what I'm saying on the legacy financial
36:38
media. Let's check out what he has to
36:39
say. But also as we near this record
36:42
high, if we go back and we look at past record high breaks or if
36:46
we eclipse the old all time high.
36:48
Three of the four. Times Bitcoin doubled in 18 days
36:51
or less. And so you think about that for
36:53
a second. Once you breakthrough an all
36:55
time high, it's price discovery. What what does this thing work?
36:58
The world is going to try to figure that out and three of the
37:00
last four times in 18 days or less it doubled in price.
37:04
You add in the fact that we have the half incoming and we're
37:06
going to go from 900 Bitcoin a day coming into the supply to
37:08
450 and it's very hard to make an argument that Bitcoin is not
37:12
going much higher and at a faster pace than we all
37:15
expected. I mean, when you do the math, I
37:17
I feel like I need to to say that past results are not
37:21
indicative necessarily. The future because it's just.
37:23
Sound you sound so I mean it just sounds that anyone at home
37:27
would would you know if they're totally new at this game they
37:32
they might mortgage your house and put it all in Bitcoin and
37:34
and there's there is still risk in the asset is there not I
37:37
definitely don't think that they should do that right.
37:40
If you go, when you ask most people in the Bitcoin world,
37:42
they will tell you higher percentages than you would
37:44
expect in terms of what they've put in.
37:46
But I think 1 to 5% for a traditional portfolio, but you
37:51
just made a case for for going from 70 to 140 in 18 days.
37:56
I mean that that sounds like things that you hear on TV where
37:59
you just want to really stay away from Bitcoin's up 20% in
38:02
the last week, it's up 60% in the last month and it's up to
38:06
100% in the last year. I'm not saying it's going to
38:08
140,000. What I'm saying is 3.
38:10
The last four times it doubled in 18 days, and with a halving
38:13
upon us, it's just hard to not say this is likely to go much,
38:18
much higher. I mean, it speaks for itself
38:21
Again, back to showing the data, the type Bitcoin to double after
38:26
previous breaks of all time highs.
38:28
You know, December 20, 2018 days.
38:31
March 20, 1784 days. November 20, 1310 days.
38:37
March 20, 1318 days. So buckle up ladies and
38:42
gentlemen. If Bitcoin does what it
38:44
historically does in the past every time it breaks an all time
38:47
high. I mean I think our buddy Bakingo
38:50
might lose his bet to Adam back in Samsung mount that are
38:55
calling 100K Bitcoin before the halving which would be
38:59
absolutely effing bonkers any while Opti pull something up.
39:03
Yeah, I I just this is one of my favorite things to do.
39:06
And then I'm going to comment on the boltar juice we just heard
39:09
from Pop and Dylan. Absolutely love it.
39:12
That's my favorite thing to do. Juice, dude.
39:14
I mean, I don't think I love it. I don't think it's Boltar juice
39:16
because I don't. I don't think any of them were
39:19
saying price predictions. Like, I don't think any of them
39:22
were saying like, anything crazy.
39:24
I think that they were just like observing what has happened last
39:30
time, the last time times the Bitcoin price hits an all time
39:34
high, that that's not bull juice, that this is what has
39:38
happened every single time. Now, does that mean that it's
39:41
going to happen again? No, absolutely not.
39:44
But I mean three out of the four times or four out of the five
39:47
times it has. So I mean, like, yeah, I mean
39:51
that is something to say. Did we ever think that this was
39:54
going to Did you think that by by March Bitcoin was going to
39:59
hit? $69,000, No, right.
40:04
So I mean, look, I think we're just getting started.
40:07
It's the ETFs, it's the halving that's coming around.
40:10
And I think Bitcoin is making up for it's, it's catching up for
40:15
the let down of 2021, the artificial let down of 2021
40:19
anyways, Opti, were you saying? Well, just just the idea.
40:23
And it's a it's a new, not a relatively new meme.
40:26
The all your models are broken. And so like, even on the flip
40:29
side, you know, we have no idea where this is going.
40:33
It looks like we historically might, you know, double in 18
40:37
days. I I'm OK with this.
40:39
I'm just saying like, dude, it hit me in the main vein with
40:43
that bull juice. That's some good stuff.
40:45
Anyways, this is what I wanted to do.
40:46
I I love doing this for people because you can still see that
40:50
most people think in the Bitcoin price in linear terms and this
40:55
is like one of my favorite things to do.
40:57
Here's the historical Bitcoin price and I'm I'm using Bitstamp
41:00
here because it goes back the longest you can see this is the
41:02
first bull run, 2012 and 2014. And then as you just start to
41:08
zoom out and you just start seeing what the price does, it
41:12
makes every top just look like Ant hills over here and you just
41:17
keep moving and this is going to continue to go on forever.
41:21
As the meme goes, it's going up forever, guys.
41:24
Like here we are, you know, now we're pumping.
41:27
And then when you really you just put it in, log over here,
41:30
you can actually start to see what's going on.
41:32
So this is just like my favorite little visual to show people is
41:36
like, guys, you're not thinking about Bitcoin correctly.
41:39
Anyways, the idea of Bitcoin doubling in 18 days, I
41:44
absolutely love it. And I I like jokingly was
41:47
tweeting the other day that 1000 X returns are still on the table
41:52
and Jimmy Song also is feeling the same idea that we might be
41:55
in a 2017 type scenario. I I keep just laying down very
42:00
simple heuristics here. Guys like Nico is saying first
42:04
and foremost you know we're in a whole new paradigm.
42:07
Like Bitcoin has the quote UN quote, Wall Street legitimacy.
42:11
We have institutional asset managers fumbling into Bitcoin.
42:14
We have, you know Joe Kernan fully orange peeled on
42:18
mainstream media and we have yet to even see the retail tell FOMO
42:23
that is going to follow once Bitcoin starts making its run.
42:26
So right now I'm sure every single one of you guys are
42:29
starting to get texts or calls from your friends and family and
42:32
being like is it going up forever?
42:34
And of course you're like, yeah, you should start to allocate
42:37
some capital on the Bitcoin if you haven't already.
42:40
And I think as we finally get into price discovery mode after
42:43
breaking 69 K convincingly, like all everything is off the table.
42:49
We don't know where this is going.
42:50
We don't know where the top is. As the meme goes, you know
42:53
Bitcoin has no top because Fiat is infinite.
42:56
There is no top to the amount of money they're printing.
42:58
It looks like we might start to get money printer to go Burr
43:02
again soon. And all this is a perfect storm
43:05
for Bitcoin. We have the halving in less than
43:08
a month. It's just like, man, this is the
43:10
perfect storm for Bitcoin. So hey, if it double S in 18
43:14
days, 21 days, you know, three months, I don't think any of us
43:18
are going to be mad about it. It's just it, man, what's the
43:21
Max Payne theory? You know bit the Bitcoin idea of
43:24
Max Payne. What Bitcoin usually does is Max
43:29
Payne. And I think Max Payne for the
43:31
majority of the world would be just Bitcoin ripping from here
43:34
and everyone getting caught on the sidelines.
43:36
You know waiting for. There's still Bitcoiners quote
43:39
UN quote bitcoiners waiting for like 12 K Bitcoin and we're at
43:42
70 K like we don't know where this is going.
43:46
So it just it just goes to show that the best strategy here is
43:51
stay humble stack sats. Just continue to stack sats.
43:55
Hold on to this for the long run.
43:56
Take Bitcoin into custody. This is how you protect yourself
44:00
throughout this this great re sat wait the resetting the great
44:04
re sat transition. We are finding ourselves in the
44:07
whole world's getting repriced in Bitcoin and we don't know
44:10
where this is going. So This is why we tell you guys
44:12
don't trade, don't go into altcoins, just stack Bitcoin.
44:16
You're gonna be good. Just continue to provide value.
44:18
Continue to increase your cash flows and your skills and put it
44:22
into Bitcoin and live your life. And when you come back, bitcoins
44:25
gonna go nuts but it's gonna be very hard the next 18 months and
44:28
eco like people live their life cuz.
44:30
Full. Runs are absolutely crazy and
44:34
everyone in the chat's not even euphoric yet.
44:36
We're not even getting the the Google search trend.
44:38
Retail FOMO hasn't gone here. Like, I'm not going to be
44:41
surprised if this actually happened.
44:43
So historically, we have the data points now.
44:46
We'll be watching it for the next three weeks and see if we
44:49
can live up to the past. But again, all your models are
44:51
broken. Just stack stats continue to
44:53
stack, stats continue to take Bitcoin into custody.
44:55
This is the way guys. 100 percent, 100% All right, ladies.
44:58
And before we move on to the, I do want to to give a shout out
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Kaboom racks. All right, everybody, let's hit
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the culture. Here we go.
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All right, wait, let's not bring this in yet.
46:33
All right, guys, so I did. I I got caught in in in normie
46:37
world over the weekend. I I went down the corporate
46:42
press route. I, you know, I wanted to see
46:44
what they're talking about. And I'm super glad that Nico
46:48
brought up the cope in regards to the Bitcoin price because I
46:51
found so much cope in regards to inflation.
46:55
And this is one of our favorite things to do here is just
46:58
literally point out the hypocrisy coming out from the
47:01
corporate press and just just explain it to you very simply
47:06
and flip it on its head and always funnel it through the
47:08
Bitcoin signal. So I got some articles here, I
47:11
mentioned some of them yesterday and I'm over here.
47:14
You know, this is, I'm using archive, but this is New York
47:17
Times and this is something we tell you guys constantly that
47:20
you cannot hide the sticker shock and we're seeing them use
47:24
the same framing in corporate press.
47:26
So I have New York Times. I got a few articles here from
47:29
the New Times and even the IMF itself trying to reframe
47:32
inflation. So I got the inflation
47:35
calculator and the price in Bitcoin to just kind of flip it
47:37
all on its head. So here we go, New York Times
47:40
headline. Here goes Will food prices stop
47:42
rising quickly? Many companies say, yes, trust
47:45
the companies, guys. Food companies are talking about
47:47
smaller price increases this year.
47:49
Good news for grocery stoppers. Again, guys talking about
47:52
smaller price increases. Not that inflation's going down,
47:56
not, not that you're, you know, you're going to be able to buy
47:59
as much as you used to. Not that your purchasing power
48:01
is going up, but prices are going to go, go up smaller.
48:05
All right. So I I just highlighted a few
48:07
points in here because I think using the corporate press to
48:12
make our points for us and kind of just pointing out the
48:15
hypocrisy and pointing out the ridiculous economics and ideas
48:20
that they're propagating to the masses just goes to show that
48:23
either one, they fully, completely don't understand what
48:27
is actually happening on or they're gaslighting the
48:30
population out there and you know, you can make your choice,
48:32
but I know what my bias is. Anyways, let's get to this
48:35
article again. This is New York Times.
48:36
It goes few prices are as visible to Americans as the ones
48:40
they encounter at the grocery store or the drive through
48:43
window, which is why two years of rapid food inflation have
48:46
been a major drag for the US household and the Biden
48:49
administration. Again, we say this constantly,
48:51
that you cannot hide the sticker shock as much as they try to
48:55
reframe inflation. As much as they try to cope with
48:58
inflation and gaslight you and and psyop you into believing
49:02
that inflation is this and not that.
49:05
They can't get away from the fact that they have to
49:08
acknowledge the truth of the matter, that you can't hide
49:11
sticker shock and everyone on Main Street is feeling the pain.
49:14
I don't know if you got into the grocery store lately, but hey
49:16
man, steaks are more expensive than they were before, and even
49:20
on the Bitcoin standard, it's still pretty expensive.
49:22
So. But now the trend in grocery and
49:25
restaurant inflation appears to be on the cusp of changing.
49:28
After months of rapid increase, the cost of food at home climbed
49:31
at a notably slower clip in January.
49:34
Again, it's not that it stopped climbing, It just stopped
49:37
climbing as fast. And from packaged food providers
49:40
to restaurant chains, companies across the food business are
49:43
reporting that they are no longer raising prices as
49:46
steeply. Again, no longer raising prices
49:49
as steeply. They're still raising prices,
49:51
but just not as steep. Guys, you you'll be all right.
49:53
In some cases, That's because consumers are finally pushing
49:56
back. Yes, we are.
49:58
We are stacked making Bitcoin, and this is how you push back.
50:00
Even if food inflation cools, it does not mean that your grocery
50:03
bill or restaurant check will get smaller.
50:06
It just means it will stop climbing so quickly.
50:09
Again, guys, you, you on Main Street, don't worry about it.
50:13
It's not that inflation's going to stop.
50:15
It's just not going to go as fast.
50:16
Everything's fine, guys. It's literally the dog in the in
50:19
the burning house, everything's fine.
50:20
Most companies are planning smaller price increases rather
50:24
than outright price cuts. Yeah, it's just you know, price
50:28
increases are just going to be smaller.
50:29
They're not going down, they're just not going up as fast.
50:32
Executives have found in recent months that they can raise
50:35
prices only so high before consumers cut back.
50:38
I think this is what we're seeing right now with the
50:39
Bitcoin price going up. Some are under financial stress
50:43
talking about people and are facing a quote, real spending
50:47
power squeeze, while others still plenty of money, plenty of
50:49
purchasing power to spend on lactose free milk and protein
50:53
shakes. So, you know, while mainstream
50:56
is getting poorer, the you're getting richer, you know, but
50:59
don't worry about it. Inflation isn't going up as fast
51:02
anymore. You're going to be OK.
51:04
And even there, he said it's going to trend down.
51:07
Guys, inflation's going down. What are you worried about?
51:10
Don't don't be worried about anything.
51:11
And again, another New York Times article over here, they're
51:14
explaining shrink inflation because everyone and their
51:17
mother is realizing that, hey, my dollar isn't going as much
51:20
and let's blame these greedy corporations because they're
51:23
charging us the same price but giving us cheaper products.
51:26
So let's go into the same article or a new article on New
51:29
York Times Shrink Inflation 101, The Economics of Smaller
51:32
Groceries. Have you noticed your grocery
51:34
product shrinking? Here's how that gets counted and
51:36
what gets missed in inflation data.
51:39
And again, the reason I'm bringing up these articles is
51:41
because not only the reframing and the hypocrisy, but the cope
51:45
that they are gaslighting the population with and just
51:48
reframing these terms and basically being like look guys
51:51
don't look on this side, look at this side.
51:53
This is the real problem. When in reality we all know the
51:56
problem. They're printing obscene amount
51:57
of money. We have all gotten poorer.
51:59
Our purchasing power is getting decimated and This is why we're
52:02
bitcoiners. So companies are downsizing
52:04
products without downsizing prices.
52:07
Greeny corporations and consumer posts from Reddit to Tick Tock
52:10
to the New York Times comment sections drip with the the
52:12
indignation at the trend widely known as shrinkflation.
52:17
It might be hard to believe, but Shrinkflation appears to be
52:20
happening less often today than it was a few.
52:22
Years ago, Scott. Yeah, you heard that right.
52:24
It's shrinkflation. Yeah, it's a bad thing, but it's
52:26
happening less than it was a few years ago.
52:28
Guys be happy out there. It's happening less.
52:31
There's there's signs of relief out there.
52:35
The government had just oh, and this is this is a good one.
52:38
Remember how we always tell you guys how CPI numbers are
52:41
completely manipulated? Well, even the New York Times
52:44
has to acknowledge this. The government adjusts official
52:46
inflation data to account for product downsizing, and the data
52:50
collectors who monitor for size adjustments caught fewer
52:53
instances of shrinking household goods and groceries in 2023 than
52:57
a few years earlier. Yes, you heard this correctly.
53:01
There's just fewer downsizing guys.
53:03
Not that you know, and shrink inflation isn't happening.
53:05
There's just less shrinkflation happening on the market.
53:07
It's because everyone already shrunk their product.
53:10
OK. Anyways, continuing down here,
53:12
while shrinkflation gets measured, skip inflation does
53:15
not. And they're creating new words
53:17
too. Shrinking, shrinking itself is
53:20
captured in official inflation data.
53:22
But another sneaky force that cost consumers is getting missed
53:25
in the statistics. Companies sometimes use cheaper
53:27
materials to save on cost into practice.
53:29
Some cost inflation that is much harder for the government to
53:32
measure. If your paper towel roll cost
53:35
the same, but you're getting fewer sheets shrink inflation,
53:38
that shows up clearly as a unit cost increase that is added to
53:41
official inflation. But if your paper towels are the
53:44
same size but are suddenly made of worse material, that's skint
53:46
inflation and the government does not record that as
53:49
inflation. It sounds all the same to me
53:52
anyways. Companies choose to shrink their
53:53
products rather than charge more for a simple reason.
53:56
Consumers often pay more attention to the prices than the
53:59
sizes. When quantity goes down, people
54:01
might notice, but often they don't.
54:04
You don't get the sticker shock again.
54:06
The New York Times is using the sticker shock meme.
54:10
You can't hide from the sticker shock.
54:11
We are all feeling this. Inflation has made all of our
54:14
purchasing power get decimated at Jack Mueller always says, you
54:17
know, 8 billion people all have the same problem.
54:20
It's that fee is losing purchasing power and you can't
54:23
hide that. And This is why people are
54:24
waking up and looking for alternatives.
54:26
And even Jim Cramer is saying, wait, maybe Fiat currencies are
54:29
failing and This is why people are going into Bitcoin.
54:32
So when companies are merely looking after their profits,
54:34
again, the greedy corporation blame the greedy corporation.
54:38
And when they only think about the profits and not their
54:40
consumers, some pricing experts worry that persistent shrink
54:43
inflation could drive shoppers away.
54:45
That's right. You're not going to buy.
54:47
You're not going to buy your food to survive because of
54:50
shrink inflation. Like, no, we have to buy this
54:52
stuff anyways. When raw materials costs were
54:54
climbing and inflation was in the headlines, consumers most
54:57
likely understood that companies needed to pass some of those
55:00
increases along. They may even have preferred
55:02
smaller products to bigger price tags.
55:04
But now overall inflation has been cooling.
55:07
Again, guys, inflation is going down.
55:08
Remember, you know, we had a peak of 9.1 in July 2022, but
55:12
now we're only at 3.1 in January.
55:15
And consumers might be less willing to accept sure inflation
55:18
now that firms are facing less severe cost pressures,
55:21
especially because food companies profits have been and
55:24
in many cases remain high, they may simply feel ripped off.
55:27
Yes, we do feel ripped off. This is why we save in Bitcoin
55:31
and something that can store our value through time and space.
55:33
Well, I'm not alone here. It's not just the New York
55:36
Times. It's not just the corporate
55:37
press that is saying this. I found this article that
55:40
dropped this morning from the IMF and it's them Coping with
55:45
Keynesian Economics and Reframing Keynesian Economics
55:48
and saying like look man, we've tried all the this new fancy
55:51
stuff, but we should go back to the old things that we know have
55:54
worked. And this article here is called
55:56
How Inflation Radically Changes Economic Ideas.
55:59
I'm not going to read this whole thing because it it's a bunch of
56:02
crap. Anyways, the headline here,
56:04
inflation teaches us that supply, not demand, constrains
56:08
our economies and government borrowing is limited.
56:11
And here this is like the most egregious part of this the
56:15
framing of what inflation is. And you guys know what we what
56:18
the the real term of inflation is, is the expansion of the
56:21
money supply. Well, look how the IMF is
56:24
framing inflation. Inflation comes when aggregate
56:27
demand exceeds aggregate supply. The source of demand is not hard
56:31
to find, and they're talking about the printing of money.
56:33
So at least he's kind of talking about it.
56:35
And then this one's funny. The mantras of the 20 Tens would
56:38
preach that prosperity, needed only for the government to
56:41
borrow or print a huge amount of money and hand it out are in the
56:44
dustbin. At least we can all admit that
56:46
printing more money and handing it out to the most needy people
56:49
makes us all poor. At least we're admitting certain
56:52
things here. And then you know the what?
56:54
What are the takeaways here? And this is This one's
56:57
hilarious. This inflation has 2 deep
56:59
lessons for monetary and Financial Policy.
57:01
First, central banks do not entirely control inflation.
57:06
I I literally don't know if this is a Freudian slip here because
57:09
it's are they saying that central bank the inflation is
57:13
out of control and the Fed is is literally can't control
57:16
inflation? Or are they trying to sign up
57:18
and saying like hey man, it's not the central bank's fault
57:20
they don't entirely control inflation?
57:22
Blame the greedy corporations. And this is just the cherry on
57:26
top. Progress in economics has always
57:28
come from answers patiently worked out and empirically
57:31
verified simplifying reality to actionable cause and effect
57:35
statements. I say it all the time.
57:38
Keep it simple guys. Just saving Bitcoin.
57:40
Stop. Stop falling for the
57:43
gerrymandering, or whatever the meme is of Keynesian economics
57:46
in the Fiat world. And here is another great one.
57:49
And I love how they're shifting blame here.
57:51
Look, when economists try to supply ideas in response to
57:54
political demands for their appearance of novelty, they
57:57
dispense bad economics and bad politics.
58:00
And I could totally, totally agree with this.
58:03
And then, of course, just put the cherry on top here.
58:06
I've, you know, I you got to sometimes go back to just
58:09
usinflationcalculator.com. Very simple, put in the numbers.
58:12
You know, we all know the meme that the money supply has
58:15
expanded 40% since 2020 and it's probably gone up even more.
58:19
I couldn't even find the updated data for this.
58:22
But we know that they've printed an obscene amount of money since
58:25
2020 and that's why we are all getting poorer and that's why
58:28
inflation is going up. But you know, sometimes you just
58:31
got to put a little visual here. So, inflation calculator, if in
58:34
2020 I purchased an item for $1000, then in 2024 that same
58:40
item would cost 1191.67 dollars, a cumulative rate of inflation
58:48
of 19.2%. That's right, they will SIOP you
58:51
and tell you that, oh, inflation is cooling, you know, hey, it's
58:54
only at 3% guys. You're only getting poorer by
58:56
3%, not 10%. Well, when you go down to the
59:00
numbers, it seems like inflation has gone up 20% since 2020.
59:04
And then on the flip side, price in Bitcoin 21, one of our
59:07
favorite websites here everything is getting cheaper in
59:10
Bitcoin guys. So in the last four or five
59:12
years, you know, the US dollars got 94% cheaper.
59:15
And let's look at this. This is just absolutely brutal.
59:19
Look how look how little sats we get for our dollar now.
59:22
It's freaking brutal out there. Remember 2019?
59:25
You get 26,000 sats for a single dollar.
59:28
And today we're only at what, 1500 sats?
59:31
Man it The dollar is getting decimated, all Fiat currencies
59:34
are getting dissipated, and your life is getting cheaper on the
59:37
Bitcoin standard. And again, I just ventured into
59:41
Normie land for a little bit because it's our job here to
59:45
counter the the Fiat press. And it's amazing how they try to
59:50
gaslight us about inflation. Remember, they, they re reframed
59:56
what recessions were. They're literally changing
59:59
terms. They're making up words.
1:00:00
They're gaslighting you on what inflation actually is, the root
1:00:03
cause of inflation. And they're basically telling
1:00:06
you guys, hey, everything's fine, don't worry about it.
1:00:08
Don't freak out, man. Go watch, you know television.
1:00:11
Go watch reality TV and worry about the new current thing
1:00:14
while the coffers are being robbed, while politicians are
1:00:18
trying to print as much money as possible and make everyone
1:00:21
poorer. And as as bitcoiners, we're just
1:00:24
sitting here like guys, we have the solution.
1:00:27
It is Bitcoin. And so whenever you can bring
1:00:30
out examples from the corporate Press of of just their
1:00:33
ridiculousness and their hypocrisy, you have to use it to
1:00:38
to paint the picture for your friends and family that look,
1:00:42
this is what they're saying inflation is.
1:00:44
And as bit corners, this is what we're saying inflation is and
1:00:48
whose life is getting better. Every person on planet Earth has
1:00:51
a problem. We just all want to get more
1:00:54
happy here. We just all want to make sure
1:00:55
we're not getting broke and in real time.
1:00:59
Bitcoin is not only demonetizing the the current store values,
1:01:04
but every Fiat currency is getting decimated against
1:01:07
Bitcoin. This is why we stack Bitcoin.
1:01:11
This is why we are Bitcoiner. This is the utility of Bitcoin.
1:01:14
A store of value that can store value through time and space
1:01:17
that cannot be the base. This is the way.
1:01:19
Amen. Amen to that.
1:01:21
All right guys, before we wrap up the show, I do want to give a
1:01:25
very, very special shout out to our new merch drop.
1:01:28
Guys, check it out. This is the second time I'm
1:01:30
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1:01:33
Bitcoin artist Ashanoa. This really, really helps.
1:01:37
Simply Bitcoin the channel. You know guys, we're supported
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Scan the QR code on your screen or check the link in the video
1:01:53
description. Now quick commentary on what
1:01:56
Opti was saying. Look, the the propaganda,
1:02:01
'cause, that's really what I call it, right?
1:02:03
The the corporate presses. You know, Tucker had a episode
1:02:09
with Mike Benz, and they were just discussing essentially how,
1:02:14
you know, these social media platforms, you know, are are
1:02:18
pain in the ass for governments because they can no longer
1:02:20
control the narratives. And I think what we've really
1:02:23
figured out over the last three, 4-5 years is that these
1:02:26
so-called, you know, legacy media institutions are really
1:02:30
nothing better than, you know, propagandists for the acceptable
1:02:34
narrative, right? And you know, if that means
1:02:37
saying that Bitcoin is used for money laundering and terrorism
1:02:41
and all that stuff, even though it's not true, even though even
1:02:45
if that means, you know, starting a war, Like what
1:02:48
happens, you know, in the, in the early 2000s where the New
1:02:52
York Times claimed that Iraq had weapons of mass destruction came
1:02:55
up, came out after the fact that it was actually the Intel
1:02:59
agencies that, you know, were feeding the New York Times that
1:03:01
information. Yeah, it it does.
1:03:03
It surprise me, The New York Times is making excuses, The
1:03:06
Wall Street Journal for inflation and coming out with
1:03:09
these words to kind of justify why people's lives are getting
1:03:13
more and more expensive. Like, does that surprise me?
1:03:16
Absolutely not. This is literally the definition
1:03:19
of gaslighting. This is gaslighting.
1:03:21
The New York Times is not a friend of humanity, right?
1:03:25
This is like protecting the regime, protecting the status
1:03:29
quo, protecting, you know, money that steals from people.
1:03:33
And I find that absolutely detestable.
1:03:36
I find that disgusting. And you know, but This is why
1:03:39
the Internet is so powerful. This is why your voice is so
1:03:43
powerful. The Internet has completely
1:03:46
changed all of this, not only by disintermediating information,
1:03:50
but also disintermediation, disintermediating money.
1:03:54
Any one of you guys could be a citizen journalist.
1:03:58
And because you're an individual, because you're not
1:04:01
captured by corporate interest, you have the ability, the
1:04:04
Internet has given you the ability to speak what you see,
1:04:09
what you see, what you observe. It's like, oh, prices are going
1:04:12
down. I don't know about you, but my
1:04:14
life has gotten mistakes are 30%, you know, more expensive
1:04:17
than they were a couple years ago.
1:04:19
Right. So, you know, people are not
1:04:21
believing their eyes. But most importantly, right, in
1:04:24
the USSR, the the official state newspaper was called Pravda.
1:04:28
If you translate that to English, it's called truth,
1:04:30
right? How crazy is that?
1:04:31
Right. Like, literally, the official
1:04:33
state newspaper was called truth, right, But it translated
1:04:36
in Russian. But in the USSR, they didn't
1:04:41
have the Internet. And the Internet allows
1:04:43
peer-to-peer communication, peer-to-peer transaction.
1:04:47
And that's why you see these government institutions, these
1:04:50
government sources, they hate Twitter.
1:04:53
They hate Rumble. They hate these, you know, these
1:04:57
these platforms. They absolutely hate it because
1:05:00
they can't control the narrative, the way that they've
1:05:03
been used to controlling it. And what you're seeing with the
1:05:07
New York Times when they released these ludicrous
1:05:09
articles is you're seeing archaic institutions of
1:05:13
narrative control doing what they've done for decades.
1:05:18
The only difference is that we are awakened.
1:05:22
And by the day, more and more and more people are awakened.
1:05:27
And by the day, not only are we awakened, not only are we doing
1:05:30
our own research, not only are we consuming the information you
1:05:34
want to consume, now we have unconfiscatable money that
1:05:39
allows us not only to vote with our wallet, but it allows us to
1:05:43
vote with our feet as well. Anyways guys, that was the
1:05:47
episode of Tuesday, March 5th of Simply Bitcoin Live.
1:05:50
Guys, if you enjoyed the show, you know what to do.
1:05:52
Smash that like button, Consider subscribing.
1:05:55
If you feel like we provided you value Guys, please, please check
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1:06:00
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1:06:02
Sats first, but check out the new drop.
1:06:05
Get yours while supplies last. We'll be back tomorrow for a
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1:06:12
Peace out, everybody. Today's episode was brought to
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