Latest / Simply Bitcoin / Nassim Taleb MELTDOWN On National TV Over Bitcoin | EP 1047

Transcript

Nassim Taleb MELTDOWN On National TV Over Bitcoin | EP 1047 · Simply Bitcoin

0:02
It's. All going to zero against
0:05
Bitcoin. It's going up forever.
0:15
You're against Bitcoin. You're against freedom.
0:23
You got Bitcoin. That's where I'm going.
0:25
To go no, no, one thing, don't. Point at me.
0:29
It's a speculative thing, and one point is Bitcoin proved once
0:34
again that it's not a hedge against your assets melting.
0:40
What or against money printing or it's just a speculative
0:44
asset. It's like an asset.
0:45
It's. A speculative asset that that
0:47
seems to yeah, it's just like, I mean, behave you're like
0:50
high-priced real estate in, in in Manhattan, right?
0:53
To track the stock market, right?
0:55
That that may be true, but you're losing your ass from when
0:58
you told me it was useless at 30,000.
1:00
I I'm saying it's useless doesn't mean you know, it's a
1:03
lot of a lot of things I didn't invest all right, a lot of
1:06
things I shorted best is that one.
1:08
I want you to short. It about.
1:09
Instead of just talking, I want you to short it or bottle.
1:12
Do one or the other. That's exactly the kind of false
1:16
economy that you're 'cause it I'm telling you, it's an asset.
1:19
That's crazy. OK, I've got got got then.
1:21
All right, enough crazy. All right, you.
1:23
Need to drive it up do you think?
1:24
That one. What do you think long term
1:26
though? I have no idea.
1:27
First of all, it's I have no, I mean I have no idea.
1:30
It's a speculative asset. What I'm saying, it's not useful
1:33
in economic system to have assets that go from $10 to
1:39
$60,000, OK, when we're looking for price stability.
1:42
Like Netscape, because from 800, that's one that there's an
1:45
underlying company that actually produces something that makes a
1:48
product on it given on any given day, whatever it's worth is
1:52
totally ephemeral. You have no.
1:54
Idea. Let me tell you the problem with
1:56
Bitcoin people, they only. Went from $6 to to four. $100
2:00
Revolutionizing the world Who knows where the bitcoins?
2:03
Really are talking about there's.
2:04
People that think Bitcoin is not the people that think it is who?
2:07
Who? How so?
2:09
It's become a speculative. That's what it is.
2:12
That's but it has a. It has a is being a speculative
2:15
functional use in terms of what constitutes a, a like actual
2:20
money. It has a.
2:21
That's exactly, that's exactly like getting wrong.
2:25
It's proving that it's it can be anything, but it's not a
2:29
currency, it's not a hedge. All right, so 3.
2:32
Yeah, we're going to sit with the court, live, you know, once
2:35
source for the peaceful Bitcoin revolution.
2:37
Oh, man, oh, man. Oh, man, Naseem Taleb myself
2:40
look a fool. I mean, out of all people, isn't
2:43
it crazy what happens when BlackRock steps in, legitimizes
2:47
the asset in the eyes of legacy financial media?
2:51
And then you have the anchor himself calling out Naseem.
2:54
And again, this has been someone that has talked very ill about
2:58
Bitcoin and the the whole cause, kind of like moving the goal
3:02
posts a little bit like, oh, this is a useless asset.
3:06
It will never function as a currency.
3:09
Who are you? Are you the God king of
3:11
currencies? You get to determine what is a
3:13
currency and what is not a currency.
3:15
Kind of like central bankers kind of give me that vibe.
3:19
The market determines what is a currency, what is not a
3:22
currency. Now that Bitcoin is experiencing
3:26
this hyper growth, like, OK, perhaps the volatility is not
3:29
for you, but 60% of the world doesn't have the financial
3:33
privilege of living in a world with a relatively stable Fiat
3:37
currency. And Bitcoin is for them like
3:40
Bitcoin is for the countries that you know, or Bitcoin is for
3:45
everyone. But Bitcoin is for like if you
3:47
want to save your purchasing power from the ravages of
3:51
inflation, Bitcoin is for you. Michael Saylor did an amazing
3:54
presentation keynote at the Bitcoin conference in Nashville
3:58
and he was talking about how Bitcoin is basically one of the
4:02
only assets that's going to be able to maintain your maintain
4:05
your purchasing power over a long period of time.
4:08
That's what it's useful for self custody.
4:11
Bitcoin like that is the most liberating thing a human being
4:15
could do is take self custody of your of of their Bitcoin.
4:19
I, I can't even describe it to you like it's just like it's
4:23
something that you need to experience on your own.
4:26
And I promise you, you will never look at a bank account the
4:29
same way again. You will never look at wealth
4:32
the same way again. Once you learn how to take
4:35
Bitcoin into self custody, once you take your financial
4:38
sovereignty, your financial sovereignty back, which you can
4:41
only really do with like, OK, gold bars underneath your bed,
4:46
right? Or cash.
4:47
But again, cash, it's depreciating.
4:49
So like that's not going to last very long.
4:52
So I guess gold. But then it's like, what about
4:55
the physical security of it? If it's a large amount, it's
4:58
very heavy. You can only put so much on your
5:00
body. Someone could take it from you.
5:02
You can theoretically memorize A12 word seed phrase and you can
5:05
theoretically store 1,000,000 billions, trillions of dollars
5:09
in your mind. I don't recommend it, but you
5:11
could do it gives you the power to do that.
5:14
And because it gives you the power, because Bitcoin is that
5:16
tool, it gives you the ability to achieve sovereignty, like
5:21
individual sovereignty, financial sovereignty.
5:24
And no other asset on the face of the planet gives you that.
5:27
And I understand if you're an academic, if you're coming from
5:30
the Fiat world and you're, you're, you believe in the
5:34
religion of Fiat and it's very difficult to understand.
5:37
I think self custody is a radical idea to many people, but
5:40
you can't look at me with a straight face and tell me that
5:43
it's crazy because I'm just thinking of Venezuela.
5:45
I'm just thinking of Argentina. I'm just thinking of all the
5:48
stories that I've heard of people saying like, thank God
5:51
for Bitcoin. I was able to take my wealth
5:53
with me, or I was able to just earn in Bitcoin and put that in
5:57
Bitcoin. It didn't matter where I was on
5:59
the planet. I could save in a currency
6:02
that's going to benefit me, the individual.
6:04
So I think he's just wrong, financially privileged, and it's
6:09
very difficult to eat your words right.
6:12
Like, how long has he been criticizing Bitcoin?
6:14
I think under since before it was over $1000.
6:18
So now that it's at what, $56,300, he kind of has to eat
6:22
his words a little bit. And Bitcoin is a fundamentally
6:25
it's a humility test. And it's very difficult to, you
6:30
know, eat that humble pie sometimes.
6:32
Anyways, Opti, I had you on stage from the beginning because
6:34
I know that you've been a vocal critic of Nassim Taleb in the
6:37
past. What's your take on his recent
6:40
comments from, you know, legacy corporate media?
6:44
Well, you know, I'm old enough to remember the fact that Nassif
6:47
Taleb wrote the original, what's it preface to the Bitcoin
6:51
standard. And we were all hyped when he
6:54
seemed to grok Bitcoin. We're like, OK, you know, we got
6:58
someone that seems to be a contrarian thinker understanding
7:02
Bitcoin. And then shortly after that, he
7:04
just went full Bitcoin arrangement syndrome and was
7:07
saying like, oh, what was he saying?
7:09
Olive, olive oil trees are a better investment than Bitcoin.
7:12
And that was that like in 2020 or something like that.
7:15
And so it's really hilarious that now we have, you know, Joe
7:19
on CNBC basically being like, look, bro, if you think it's
7:23
bad, then short it. Like put your money where your
7:25
mouth is. And he's instantly quiet about
7:27
it. Of course he's going to dig his
7:29
heels into the fact that he thinks Bitcoin isn't, you know,
7:32
what we all think it is. But again, the market is proving
7:35
him otherwise. Yes, Bitcoin is volatile, but
7:37
it's volatile to the upside. And part of what we're doing
7:40
here, like someone said in the chat, like the reason for
7:43
Bitcoin is resistant money. It's it's free to money right
7:46
now. And he's still, you know, it
7:48
with this idea that, oh, Bitcoin is in a hedge against
7:52
uncertainty and it's not a hedge against the system, where in
7:56
reality it's like Bitcoin is a parallel system right now.
7:59
It's a parallel money that no one controls.
8:01
And that's why we love it so much.
8:02
There's there's no Kabbalah bankers that control Bitcoin.
8:05
And yes, right now it's still in its nation early phases and it
8:09
is correlated with a lot of markets.
8:11
But that doesn't, I don't think, defeat the theory that we all
8:14
think about Bitcoin like Bitcoin is working exactly as designed.
8:17
And man, it just, it's awesome to see Nasim Kalib just continue
8:20
to have Bitcoin derangement syndrome on live national
8:23
television and get all, you know, get all flustered about
8:26
Bitcoin and he's going to continue just digging his heels
8:29
about his anti Bitcoin stances. And man, it's, it's almost sad
8:33
to see. But we've seen this happen
8:34
before a lot in the Bitcoin space, where once people come
8:38
out as Bitcoin deniers or Bitcoin skeptics, they're never
8:41
going to change their position on what they believe Bitcoin to
8:45
be. And no price is ever going to
8:47
prove to them that Bitcoin is what we say it is, except for,
8:50
you know, full mass adoption. And even then, there will still
8:53
be holdouts to Bitcoin. But I mean, for us, you know,
8:56
bitcoins change our lives. It's giving us something that we
8:59
can store our value in. It's going to increase in price.
9:03
And if you ever use it like Nico, you were saying, you know,
9:06
have you guys signed up for a bank account recently?
9:10
Like the hurdles you have to go to to getting a bank account is
9:14
insane. Freaking nightmare.
9:16
It's. It's insane.
9:17
And you can't send your money wherever you want.
9:19
Literally, we can send our money wherever we want.
9:22
No one can tell us what to do with our money.
9:23
And if that isn't A use case, then I really don't know what
9:26
is. It's like I store my, my, my
9:29
value in Bitcoin. It retains its value.
9:32
Actually, it goes up over time and I can literally send it
9:36
across the world and you can't do that with traditional banking
9:39
system. So it's actually hilarious when
9:41
you see people have these mental gymnastics and and just continue
9:45
to have Bitcoin derangement syndrome.
9:46
But hey, you know, bless Nassif, tell it's heart.
9:49
His books are still pretty good. You know, they were part of my
9:51
Bitcoin journey in the early days.
9:53
And, you know, we, I think we at this point, we can kind of
9:57
separate the man from some of his work because he's obviously
10:01
never going to change his thoughts on Bitcoin.
10:04
Yeah, I mean, it's like it's, it's kind of sad.
10:06
It's like a Peter Schiff esque type of person.
10:10
And I think it was, it was, we've said this many times as a
10:14
community, but Bitcoin fundamentally is a humility
10:19
test. And I think that if you don't
10:23
pass the humility test, it it could be very, you know, it, it,
10:27
it like you don't change Bitcoin, Bitcoin changes you,
10:30
right. But you have to be humble enough
10:32
to be like, look like I, I, you know, everyone gets Bitcoin at
10:36
the price they deserve. I was wrong.
10:38
Like if Peter Schiff bought Bitcoin back then and he was up
10:41
right now, he would have a totally different perspective on
10:43
it. But he's just doubling and
10:45
tripling down because it's a lot easier to do that than admit
10:49
that you were wrong. And I've seen this happen with
10:51
so many people, people that are close to me as well.
10:56
Narwhal tacos comment US sent 2 aircraft carrier Opti.
11:03
What do you do? A rumble?
11:06
You're reading a different comment.
11:08
I don't. Anyways, all right guys, it's
11:11
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Bitcoin price is 56,530 sats per dollar 1769 block height 855,672
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blocks to having 194,328 having estimate March 23rd 2028 Total
14:05
lightning network capacity 4821 BTC capacity value 272 million
14:12
realize monetary inflation 1.47% market capitalization 1.12
14:18
trillion Bitcoin verse gold market cap 6.76%.
14:24
In the grand scheme of things, Bitcoin is just getting started.
14:28
One of the central themes to this show is the separation of
14:31
money and state, and also the decentralization of not only
14:35
money, but also the decentralization of information.
14:40
And we are currently living through this.
14:43
I called the great disintermediation, right?
14:46
You've seen this with the fall or the downfall or the OR the
14:52
how the popularity of the legacy media continues to plummet as
14:57
more and more people continue to seek independent media as their
15:02
sources. And then you're seeing
15:04
governments and also the legacy media outlets, which in my
15:08
opinion really functioned as a propaganda arm for the legacy
15:14
Fiat governments react to that. They absolutely hate the fact
15:20
that Noster exists, that Elon freed the bird and they can no
15:25
longer control the narrative. I mean, this is something that
15:28
Naimbu Kelly talked about when he wrote the article to stop
15:32
drinking the elite kool-aid. And he talks about how one of
15:36
their most important weapons is their quote UN quote control
15:40
over the truth and that they're willing to fight, lie, smear,
15:43
destroy, censor, confiscate and print and do whatever it takes
15:47
to maintain and increase their control over the truth.
15:49
But once you have mass scale peer-to-peer communications,
15:53
like what a lot of social media like, like think about what's
15:56
happening right now, like me and Opti, we're in our home studios
16:00
and we're communicating directly to you guys, peer-to-peer.
16:03
And let's just say that we're not saying a lot of the approved
16:07
mainstream narratives before social media was a thing, before
16:11
the media was a thing. Think about it.
16:13
There was only like what, 50 channels on TV, right?
16:16
You, you're going to get news. You had the, you know, the, the
16:20
local, the newspaper, the local newspaper, the National
16:23
Newspaper. That's it, right?
16:24
And then maybe you could talk to your friend over the phone and
16:27
stuff. But now you have individuals
16:30
building massive platforms independently and that kind of
16:36
like governments were not prepared for that.
16:38
To be like, to be honest, I think during the pandemic, there
16:42
is multiple examples of of just how like Joe Rogan was talking
16:46
about his podcast. He was like saying like he was
16:48
bringing on some of the medications and you just see the
16:50
legacy media just like he's eating horse to warmer and like
16:53
they were just fucking lying, right.
16:56
So again, if you're trying to convince people about a war that
17:01
they might not necessarily agree with, you know, it it it, it
17:05
worked a lot better when you only had a handful of outlets
17:08
that you had to control. Now that you have millions upon
17:11
millions of individuals talking freely amongst themselves, that
17:16
narrative becomes a lot harder to control.
17:19
And I'm very bullish on this decentralized future just
17:23
because, you know, I'm, I'm bullish on decentralization.
17:26
I think decentralization is going to make the world a better
17:28
place. So why am I bringing this up?
17:30
Well, the most recent news is again, it's just it's, it's
17:34
hilarious. We talk about the Financial
17:35
Times all the time. We call it the Fiat times.
17:39
And the projection is just going.
17:41
It's so it's so like blatant, it's so obvious.
17:45
When Elon acquired Twitter, it was like very similar to when
17:49
Naimbu Kelly made Bitcoin legal tender.
17:52
You saw the legacy media like gremlins come out of the
17:57
woodwork and just freak out. I'm going to I'm going to read
18:00
you some of the headlines. So first one says Elon Musk
18:04
fails to convince the doubters that he will save Twitter.
18:08
It goes on to say Elon Musk X continues to die a slow and
18:13
tedious death. Maybe we should be grateful,
18:16
writes you know, a a legacy media journalist.
18:19
And then basically a year later, the associate editor at the
18:25
Financial Times goes out and tweets.
18:28
Can't say this enough. Elon Musk's menace to democracy
18:32
is intolerable. He's using the largest and most
18:35
influential platform in the democratic world to stork racial
18:39
conflict and civil breakdown in his own post.
18:42
And what X promotes democracy, these can no longer ignore this.
18:47
So projecting initially. And then when it's become
18:51
blatantly obvious that just people are not fans of the
18:54
legacy media anymore. Twitter right now is the most
18:57
popular social media platform, they freak out.
19:01
And they, you know, they're, they're hiding behind this
19:03
democracy and they're hiding behind like, oh, this is racist
19:07
and like, whatever. But the reality is, and I think
19:09
Elon says it best here, he doesn't like competing with the
19:12
truth. And then he goes on to say,
19:15
we'll add him to the light lawsuit.
19:16
And that's really what it is. And connect this, connect the
19:19
dots with the Naimbu Kelly article.
19:21
This is about controlling the truth.
19:23
And when you have competition, like he can tweet just as much
19:28
as the rest of us, but that's not what he wants.
19:31
He wants special privilege. That's why when the blue check
19:36
mark thing came out and everyone can get a blue check mark.
19:39
And that wasn't necessarily very popular with the Bitcoin
19:41
community. That's why you saw the legacy
19:45
media outlets have a meltdown and they're like, no, I, I had
19:48
this blue check mark and it was a sign that I was better than
19:51
you and all these things. Now everyone can get a blue
19:54
check mark and they kind of freaked out about it, right?
19:56
Like Twitter one point O that the legacy media was the
20:00
approved source. Twitter two point O.
20:03
It's kind of like may the best idea win, which is the way it
20:07
should be. But if you come from that world
20:10
where? Proof of stake means a lot.
20:13
You know, it could be a very tough pill to swallow.
20:15
So I think the world's going to be, like I said, a much better
20:18
place for this. It's going to be a much freer
20:20
world. And once we go up against really
20:24
the final boss, because I said there's two things that are
20:26
happening right now, the disintermediation of money and
20:30
then the disintermediation of information.
20:32
I think the disintermediation of information is the necessity in
20:37
order to win the final battle. And the final battle is, of
20:40
course, the separation of money and state.
20:42
Here's Justin Amash and he, I think he makes a really good
20:45
point. He goes on to say Bitcoin puts
20:47
at risk both a central bank digital currency and the state's
20:51
monopoly on money, which is why the federal government will do
20:54
everything it can to prevent its successful emergence or that of
20:58
any alternative currencies. We need to fight against laws
21:01
and regulations that hinder money's independent development.
21:05
Good money, whatever form it takes, is indispensable to a
21:09
free future. And now this is where the
21:12
government's, its ability to control the narrative was so
21:14
important. Because the reality is, guys,
21:17
and you see this when the Democrats are walking back their
21:21
policies because they see the election coming up, or at least,
21:25
you know, signalling to it. You see this, you see what I'm
21:28
talking about. They know for a fact that a
21:31
central bank digital currency is unpopular.
21:35
They know that being against Bitcoin is unpopular, but they
21:39
don't care anyway. And the reason that they don't
21:41
care is because that sweet, sweet monopoly on money is so
21:46
valuable to politicians, and they want to retain it.
21:50
But if they don't, if they can't control the narrative, if they
21:53
can't control, to use 9 Bukela's words, the truth, then good luck
21:58
trying to convince me that me taking self custody of Bitcoin
22:03
is somehow a danger to society. Because that's what Elizabeth
22:06
Warren's trying to do when she's trying to convince you,
22:09
screaming from the rooftop that money is used for, that Bitcoin
22:12
is used for money laundering, that that's all it's good for,
22:15
and you know it's going to facilitate terrorism and all
22:18
that stuff. That only works if people don't
22:22
Fact Check her. If people Fact Check her like
22:24
we've done in real time, then she looks like a fool.
22:28
And then you're making like, why did she lie about that?
22:30
And then you once you go down that rabbit hole, you're like,
22:32
she lied about that because she's a politician and she
22:36
benefits tremendously from that monopoly on money.
22:39
And that's what it's about. That's what it boils down to.
22:42
So these two things are super interconnected and the fight for
22:46
free speech is the frontline for the fight for Bitcoin.
22:50
They're they go hand, hand in hand and we're already, I would
22:54
say 80% through the fight for, for free speech.
22:58
I think we're winning. We have like not I love Noster
23:01
because it's like the Alamo. And one of the things that I
23:03
love about Noster too, is that you're not algorithms.
23:06
So like Twitter makes you feel a certain way.
23:09
Once you're scrolling Noster, you don't feel that way when
23:12
you're scrolling on Noster. You're just like, oh, OK, like
23:14
this is cool. This is a really good take.
23:17
So I like nostril because it's like the final, like if Twitter
23:22
gets Co opted, if Elon gets taken out by the machine, by the
23:27
Matrix, then you know, we can all go to nostril and you can't
23:30
take it down. It's a protocol, right?
23:32
It's beautiful. So I love that.
23:34
But the reality is that the vast majority of people are on
23:37
Twitter right now. That's where the action is
23:39
happening. That's where the volume is.
23:41
And on that front, we're winning and it's really, really awesome.
23:46
Venezuela had an election recently and you just hear the
23:49
president going like on his streams and he's like, tweeter
23:53
is it? He used the word digital
23:55
imperialism. Like, I was like, holy shit,
23:58
that is a big ass word. But just to kind of give you an
24:01
idea of how powerful this is to really win over the hearts and
24:05
minds. And remember, the battle for
24:06
Bitcoin is the hearts and minds of individuals.
24:09
So it's all interconnected. The good news is that we're
24:12
winning. We got to keep up the pressure.
24:14
And then major breaking news, Elon, after the Supreme Court
24:19
ruled that Google was a monopoly, Elon announced a
24:23
lawsuit this morning, basically teaming up with Rumble to sue
24:29
Google because Google's essentially making it incredibly
24:32
difficult to compete with them. So I mean, like, dude, this is
24:36
crazy. Like, like these are things
24:37
that, you know, we've experienced as content creators.
24:41
I think you know the the future of freedom of speech and the
24:44
future of communications is very bright, Opti.
24:47
Yeah. Well, what's that saying?
24:50
The most dangerous thing to a government is a well informed
24:53
population. And as we've been seeing in the
24:56
last, especially in the last four years, but obviously for
24:59
probably the last 50 or 60 years in at large, is that it's very
25:06
easy to manufacture consent, especially for humans.
25:09
Most people don't like to think they're just like, tell me what
25:12
to do. And if a lot of people are
25:14
telling the same story, then people start to go along with
25:17
this. And it's been working for a
25:19
long, long time, except for now in the digital media age.
25:24
And remember guys, we're still relatively new in the digital
25:27
media age. I think what Facebook's been
25:28
around for like 10-15 years tops.
25:31
And so we're still kind of dealing with these ramifications
25:34
of what digital media is doing to society.
25:37
But in the last four years in particular, we've seen a
25:40
trillion dollar psyop, a coordinated narrative into
25:43
trying to control humanity. And now it's starting to
25:46
crumble. People are starting to wake up,
25:47
or at least starting to feel like, wait, something that
25:50
they're telling me isn't jiving with reality.
25:53
And again, you know, standard Bitcoiner talking about like
25:56
1984 and Big Brother, but they don't want you to believe your
25:59
eyes and ears. And so they're going to continue
26:00
to manufacture consent. But as we're seeing in real
26:03
time, that power is starting to dwindle.
26:06
And I love that we always reference the Naibu Kelly
26:09
article because it's not just Nico and Opti talking about this
26:12
on YouTube. You know, some Youtubers, some
26:13
bit corners that just been around and shit post on the
26:15
Internet. Like someone that has seen
26:17
behind the veil in a position of power saying exactly what we all
26:20
know to be true is that they can control or rather manipulate the
26:25
conversation, manipulate the narratives and most people will
26:28
go along with it. But you know, love them or hate
26:30
them, Elon, I think is kind of putting up the good fight with
26:34
Twitter, whereas I do still kind of believe I flip flop on Elon
26:38
all the time guys. So you guys can whatever, call
26:40
me a hypocrite or whatever, but on the one side, I'm always
26:43
like, Elon is doing, you know, humanity a service by allowing
26:48
conversations to happen on Twitter and seemingly being an
26:51
advocate for free speech. And then on the other side, I'm
26:54
also like, yeah, you know, I'm pretty sure the statistics are
26:57
in that there's still a lot of how would how would we say, how
27:03
would we say this nicely for YouTube, since we still are on
27:06
YouTube. There is still a lot of, for
27:08
lack of better term, censored conversation or more push
27:11
narratives on Twitter. But at least it does seem like
27:15
it is a more free flowing conversation.
27:17
And if you've seen, if you've been on Twitter, you're not even
27:19
on Twitter. You just hang out with us on
27:20
YouTube. If you do go on to Twitter and
27:23
there is breaking news happening, you can really be
27:27
able to parse through the information a lot better than
27:29
you're going to get out of this, out of the the legacy media.
27:31
Like you get a real time conversation.
27:34
And I did just read, I forget what her name is, but the CEO of
27:37
Twitter, she just wrote this big long letter on YouTube about
27:40
this lawsuit. And as much as that Financial
27:44
Times guy was saying like, oh, Twitter's gonna die under Elon
27:47
Musk, it's actually increase, I think like 25% by the amount of
27:53
people on the platform. It's literally like the biggest
27:55
social media platform right now. And people are really enjoying.
28:00
Yeah, there you go. Go go down a little bit.
28:03
There's there's a number in here about a watch time.
28:07
Wait, go up a little bit. Go up.
28:08
Yeah, that right there, right there.
28:09
You got it. So using a Twitter legacy metric
28:14
user active minutes, in August 2022, people spent 7.2 billion
28:18
active minutes on the platform. Today that number is more than 9
28:21
billion, a 25% increase. And the same is true for video.
28:25
Even compared to last year, daily video views are up 45% to
28:28
8.2 billion. X is innovating and growing.
28:31
So as. Much and then also like to add
28:33
to your point, Opti like now X is the most popular news app on
28:39
yeah, multiple different countries on like on the Google
28:42
store, on the iOS store. So it kind of coincides with
28:45
like it kind of matches to what we're saying is like, and This
28:48
is why that guy the the media guy, the legacy media guy, he is
28:52
projecting. They're projecting onto US what
28:56
it is they're guilty of themselves, right.
28:59
Like when he's talking about look, you don't want to know
29:01
who's the real danger to democracy.
29:03
Propagandists could use their political MO where they don't
29:08
get they don't get questioned, they don't get asked any things,
29:13
none of their articles get commented or nothing because
29:16
they publish a page. They don't have any type.
29:18
They don't have to answer to anyone.
29:19
They're more of a danger to society.
29:22
If you're on Twitter and you post something that people don't
29:25
F with, like people are going to let you know in the comments or
29:29
that that tweet is not going to get engagement, right?
29:32
The common denominator has to be truth.
29:36
Because if it's not truth and people aren't going to
29:38
understand it. Like that's when a meme slaps.
29:40
A meme slaps when the truth is someone that ever that the truth
29:45
of the meme is someone that everyone shares.
29:48
So everyone connects with that specific meme.
29:50
If that meme didn't have the common denominator of truth
29:53
embedded in it, then you wouldn't understand the meme.
29:56
You'd be like, I don't get it. This isn't, this isn't funny to
29:59
me. So these are people that have
30:01
been used to operating in an information vacuum and all of a
30:05
sudden they have competition from the truth and they can't
30:09
deal with it. They can't stand it.
30:11
It drives them absolutely crazy. And you see them pull up with
30:16
like, oh, the truth is dangerous to democracy.
30:21
Like the next thing, I guarantee you, we're going to hear this.
30:24
And I'm calling it right now. Bitcoin is a danger to
30:28
democracy. I bet you you're going to hear
30:29
that in a couple of years. Basically, anything that is a
30:34
threat to their monopoly on information and their monopoly
30:39
on money is a danger to democracy.
30:42
Don't take our word for it. I read you Naimbu Kele's article
30:46
and what lengths they're willing to go in order to maintain that
30:50
truth. And that's what it's about.
30:52
That's literally what it's about, is that the Internet has
30:55
made the truth go free. They're having a hard time
30:58
controlling it. They weren't prepared for it, to
31:01
be frank. And then Elon just like
31:05
exacerbated that as soon as he took over Twitter.
31:08
And they hate it. They they despise it one. 100%
31:11
and and you know bring in this full circle because this is a
31:13
Bitcoin show and I can hear someone that's new to the
31:16
channel it's like why are we talking about the media here?
31:18
Well, one we are content creators trying to spread as
31:21
much signal and help you guys the viewers out there live a
31:23
better life. But two remember what Fiat money
31:26
literally means Fiat means by decree.
31:29
So as the trusted institution starts crumbling, the, the power
31:33
in their word starts to crumble as well.
31:35
And this is what we're seeing happen in real time, that they
31:38
can no longer just say things and we have to go along and
31:41
parrot the line because now we can Fact Check them.
31:44
Now we can have the real time conversation in the public
31:46
square that is Twitter or any other social media or like on
31:49
Rumble or even on YouTube for for a certain extent.
31:53
But This is why it is so important to understand that the
31:56
legacy corporate press are basically just lackeys for the
32:00
Fiat system to continue to keep moving forward.
32:03
And it's all because of the fundamental breakdown of what
32:06
Fiat means by decree. What they say goes, and you got
32:10
to use their money, and now they have to battle on the
32:13
battleground of ideas, of the Internet.
32:14
And This is why, this is what Nico always calls it, the great
32:17
disintermediation of not only money, but of information.
32:20
So you guys are the frontline soldiers, as we say all the
32:23
time. Yeah, this is 100% narrative
32:25
trench warfare and the battles to win over the hearts and minds
32:29
of individuals and get them to wake up.
32:31
Like, that's it. Get them to wake up, get to
32:33
think critically. I know that's very hard for a
32:36
lot of people these days, but it's really as simple as that.
32:39
If we get enough people to do that, if we get enough people to
32:41
take self custody, we win. Freedom wins, and I think the
32:44
world's going to be a much better place for it.
32:46
Anyways, Everybody, let's get to news.
32:48
Lots to talk about today. Let's check it out.
32:53
The Daily News. I want to give a shout out to
32:56
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yourself a discount. All right, everybody.
34:34
So I think Jack Mahler's had an incredible bit here and we had
34:39
this massive correction that we're that we've somewhat
34:42
recovered from yesterday. Everyone thought the world was
34:47
ending. We, we went from 60 like it was
34:50
like last week. It was like 65 K.
34:54
We fell all the way down to 50K, 20% correction in a week, 10%
34:59
correction of the day. The Japanese stock market was
35:02
melting. Everyone was freaking the F out.
35:05
And you know, I think Jack Mahler's made a really good
35:09
point here because that's something that they've asked
35:12
Nasim Taleb in, in the very beginning of the show.
35:14
We played you guys during the cold opening.
35:17
They asked him like, so Bitcoin is not a hedge against
35:19
inflation, right? I think Jack Mahler's addresses
35:22
that here. Let's check it out.
35:23
It's. I do want to fixate again on the
35:26
the reason Bitcoin's selling off.
35:27
You know, I think it's an important idea By Parker Lewis.
35:30
Bitcoins not a hedge. It's a solution.
35:34
I love that quote. You know, anyone that
35:36
understands Bitcoin doesn't take 1% of their portfolio and use it
35:40
as a hedge, right? Anyone who understands Bitcoin,
35:44
bitcoins like their entire portfolio, like me, I only own
35:48
Bitcoin And so bitcoins not a hedge.
35:50
It's not supposed to like perform well in the in the early
35:54
innings of a financial crisis because what happens in a
35:57
financial crisis is everything sells off.
36:00
So, you know, even before Bitcoin existed in the O eight
36:02
financial crisis, gold sold off tremendously before rallying to
36:06
new highs. And so Bitcoin's not a hedge.
36:09
Don't don't evaluate it as an ability to hedge moments like
36:14
this. It's a solution, it's a
36:15
replacement. It's.
36:17
I do want to. So I think I think it's a really
36:19
good point. Bitcoin is the solution and you
36:24
know, and I think we were talking about this earlier on in
36:28
the show Opti, which is like, and I think it's something that
36:31
people don't quite understand, but it's this idea of like once
36:36
you understand Bitcoin, once you truly get it right and you feel
36:40
the power of self custody, you're not going to go back,
36:44
You're not going to go back to the traditional system.
36:47
It's much more than just an asset and it's something that
36:51
Naseem and the other anchor from the cold opening didn't quite
36:55
understand. It's much more than that.
36:57
It's like a safe haven. It's good for your literally I,
37:02
I trust me on this. Don't actually don't trust me.
37:05
Try it yourself and you'll be like that is so true.
37:08
It is literally good for your mental health, for your
37:11
spiritual health, for your financial health.
37:14
If you put Bitcoin in self custody and you just lock away
37:17
the key, do you just forget about it and you save in it?
37:21
You will literally feel better. I don't know what it is, but
37:24
it's you'll feel better. And money in a bank account does
37:28
not give you that level of peace.
37:32
So I don't know what it is exactly, but there's something
37:35
there. And I 100% agree with Jack
37:39
Mahler's like Bitcoin is the solution to this.
37:42
If we're having a 50% drop in this in the markets, I don't
37:46
think Bitcoin is immune to that. But Bitcoin is the solution to
37:50
the problems that those markets caused in the 1st place.
37:53
Like Bitcoin was born out of the 2008 financial crisis, which
37:57
some, a lot of people have have to understand, right?
37:59
It was born because governments couldn't help themselves but to
38:02
print. And this is all interconnected
38:05
to what we were talking about during the numbers segment in
38:09
the beginning. Like the lies, the propaganda,
38:12
the spin. All of this is connected with
38:17
the fact that they need to be that way.
38:20
In order for a coercive system to function, in order for a
38:24
system based on theft, that system requires a total control
38:32
over the narrative. Because if not, people start to
38:36
ask questions about why it needs to be that way.
38:39
Something we've always brought up on the show is we've said if
38:44
we get the majority of people to ask two questions, question
38:49
number one, what is money and question #2 why does my money
38:54
need to lose purchasing power in order to function?
38:57
If we get the majority of society to ask those questions,
39:00
we win by default because they don't have a response to it or
39:05
they don't have a good response. The reason they're able to get
39:09
away with inflation, the reason the reason that they're able to
39:12
get away with currency debasement is because of an
39:15
uninformed populace. That is the only effing reason.
39:21
If people knew what was happening, they would not be OK
39:25
with it. And here's the thing, it's not
39:27
only about waking up people to what is happening, it's also
39:31
providing them a solution. And I'm not talking about the
39:34
political bullshit because that's what it is.
39:37
I'm talking about a real solution.
39:40
And that real solution is Bitcoin.
39:42
And that's exactly what what Mahler's was talking about is
39:45
that like this gives you an opportunity.
39:48
Now you get Bitcoin at 20% off, bro, what are you complaining
39:51
about? It's a great opportunity for you
39:53
to stack those cheap sats. So yeah, I think, I think he, he
39:56
talked about it perfectly. I think it is the solution.
39:59
What's your take on this Opti? Yeah, well, obviously always a
40:03
shout out to Jack Mahler's. He is probably one of the best
40:07
spokespersons for Bitcoin. He always has a way of
40:09
explaining things that the average person can get, which I
40:12
absolutely love. And I mean guys like this is
40:16
what, who was it in the chat? Sorry when some hack said like
40:20
it's literally in the genesis block for the reason why Bitcoin
40:25
was designed in the 1st place because the financial system is
40:28
broken. That's why we always say fix the
40:30
money, fix the world. And this is the beauty of
40:33
Bitcoin. It is a better money.
40:35
It's a totally different system than the traditional financial
40:37
system. But we got to remember,
40:39
especially if you watch yesterday's show, we covered
40:41
this in depth yesterday, that Bitcoin is the only free market
40:45
left in the world. It is a real time metric of
40:49
what's going on in the world. It's the most liquid market that
40:52
is running 24/7, 365. So it's very obvious that it
40:56
reacts to certain, you know, global events in real time.
41:01
And yes, they might be kind of volatile because people still
41:04
don't fully understand Bitcoin like all of us do in the chat,
41:08
but it's also the only thing that is most liquid.
41:11
And when there are crisis sees, or rather when people get
41:14
scared, they sell things that are the most liquid, hence why
41:18
Bitcoin has these violent movements.
41:20
But then it reacts very well and it comes back up very quickly
41:23
because people start to understand it's like, oh wait,
41:25
why am I selling the one thing that's going to withstand the
41:28
absolute, you know, financial meltdown that we might be
41:31
finding ourselves in. And so again, just love how Jack
41:35
Mahler's is able to explain, or rather, you know, reprogram the
41:40
conversation in a way where it really points out and highlights
41:44
why we do what we do here as bitcoins, why we all save in
41:48
Bitcoin. Like Jack said, I, I don't think
41:52
that I'm ever going to go back into the Fiat system.
41:55
Like Bitcoin is the solution. It's the one thing that we
41:57
should all be holding. It will eventually become the
42:00
one money of the world and everyone is just waking up to
42:04
this. And so, hey, if people want to
42:05
panic when there's financial crisis season, sell their
42:08
Bitcoin like that just gives us a good buying opportunity.
42:11
And we say it all the time when there's price movements, like if
42:14
you like Bitcoin AT70K, you're going to love it at 55 K.
42:17
Nothing has fundamentally changed on the Bitcoin network
42:20
except for traders on the margin, you know, trying to make
42:23
a profit. And on the long enough time
42:26
frame, we all know the meme numbers going to go up.
42:29
It's going to go up and to the right.
42:31
It's hard capped at 21 million. There's nothing else like it in
42:34
the world. And it's the one thing you want
42:35
to be storing because like we're saying, you know, we even talked
42:38
about this when the Talib played in the beginning.
42:41
It's literally the only thing that you can ship and send
42:45
around the world in literally 10 minutes or less.
42:49
Nothing is that liquid. Nothing moves that fast.
42:52
Nothing moves lightning quick like Bitcoin does when you
42:55
compare it to the traditional financial system.
42:57
And once more people wake up to the fact that, hey, there is an
43:00
alternative. There is a better monetary
43:02
policy, there is a better money. It is Bitcoin.
43:06
And you might want to get some just in case the cat is on like
43:09
it's this is the only race. The only horse in the race that
43:12
matters right now is Bitcoin and it's still early.
43:15
Like yes it's 15 years old, yes it hit 70 K, it's at 50K.
43:19
But where we're going, we won't need roads here.
43:21
Like there won't be Fiat left eventually.
43:23
And in the meantime, just stack as much stats as possible.
43:27
Amen to that. All right, the next piece of
43:29
news before we move on to the culture.
43:31
This is something that we started covering last week,
43:34
Morgan Stanley advisors pitch Bitcoin ETFs by BlackRock and
43:38
Fidelity. We broke that news to you guys
43:41
last year, but apparently sorry last week, but apparently that
43:44
that is happening today. That is starting from today.
43:47
Now, the the reason that this is so incredibly bullish is Morgan
43:51
Stanley is one of the big banks. And after we've had the
43:54
legitimization of Bitcoin in the eyes of the legacy of financial
43:59
world by BlackRock, we were just just waiting for kind of a big
44:03
bank to step in and say, you know what, we're actually going
44:07
to start selling this to our clients.
44:09
Now, I know it's not spot Bitcoin, I know it's through the
44:13
ETFs, but still, it's kind of like a Trojan horse.
44:15
It's a foot in the door. There were three things that
44:18
Michael Saylor said needed to happen in order for Bitcoin to
44:21
reach $5,000,000. Thing number one was the
44:25
approval of an ETF. Thing number two was the change
44:29
in the Fazbee accounting rules that happened as well, and thing
44:32
#3 was essentially the acceptance of Bitcoin and the
44:36
ability for the traditional banks to custody spot Bitcoin.
44:41
That hasn't happened yet, but it's in the process of
44:44
happening. This is why you have politicians
44:46
freaking the F out when they're trying to stop these laws that
44:52
would enable these legacy financial institutions to
44:55
custody Bitcoin, to have exposure to Bitcoin.
44:58
Because once the incentives are there, and this is something we
45:02
can't even comprehend because we've we've been used to living
45:06
in the Fiat world where the incentive structures just don't
45:10
align whatsoever. We can't comprehend a world
45:14
where all of a sudden a bank like Morgan Stanley is promoting
45:19
Bitcoin just like we. If I told you two years ago that
45:24
Larry Fink right everyone remember the ESG stuff.
45:28
People thought this man was evil, right?
45:30
If I told you that Larry Fink was promoting Bitcoin, you would
45:35
have you wouldn't be like never in a million years.
45:38
But all of a sudden now we find ourselves in a very interesting
45:42
situation where Larry Fink's incentives are now aligned with
45:47
mine, not perfectly, right. He's incentivized to sell the
45:51
ETF, not spot Bitcoin. But still, we're at least
45:55
metaphorically shooting in the right direction.
45:58
Now we're starting to see that with politicians.
46:01
These are very uncomfortable things, right?
46:04
The fact that I'm saying it's like Larry thinks still, you
46:06
know, that guy's fake, Trump is fake, RFK is fake.
46:10
You can say all you want, but what I'm seeing is the alignment
46:14
of incentives. Now all of a sudden politicians
46:16
are realizing if I essentially protect the bitcoiners, I can
46:22
get the bitcoiners vote. If I promote Bitcoin, I could
46:27
benefit from number go up technology.
46:29
That's what Larry thinks thinking.
46:31
That's what Trump is thinking. That's what RF KS thinking.
46:34
In a world of Fiat, a misaligned incentive structure system where
46:38
only an elite few benefit at the expense of everyone else, it is
46:43
very difficult to imagine the aligned incentive structure
46:49
system. It's very difficult to imagine
46:51
that, but I could describe the first country that made Bitcoin
46:55
legal tender, has the most popular president in the
46:57
Americas, and crime rate is down and their economy is thriving.
47:03
Stacy Herbert is basically saying that it's going to 10X
47:06
from here. I I believe it.
47:08
So this is what I mean about aligned incentive structure.
47:13
And right now, as long as the world is on a Fiat standard,
47:16
everything is misaligned. That means worse few, worse
47:20
food, poor products. Things continue to get built in
47:24
a cheaper and cheaper way. People continue to take corners.
47:29
And it's all because the money is stealing from you and people
47:32
are just reacting to that. So if you want a representation
47:36
of what the world under a Fiat standard would be like, take a
47:41
look at the World Economic Forum that is literally the
47:44
quintillionaire conference and take a look at all the freaking
47:48
crazy ideas coming out of there. I think that boils down to
47:53
fundamentally the money being broken and people playing the
47:56
game. And if the game incentivizes you
47:59
to do evil shit and fucked up shit, some people are going to
48:03
do evil and fucked up shit. But if, what if, what happens if
48:07
the game incentivize you to do good by the, your fellow humans
48:11
because that benefits them too. That's what Bitcoin is.
48:14
And that's the most, one of the most difficult concepts for
48:17
people to understand. But the whole Bitcoin system
48:20
functions like that. The miners.
48:22
Do you think the miners are just doing this out of goodness of
48:24
their heart? No, they're doing this because
48:27
they want to make money. And look at what happens when
48:30
they, they, they drifted away from that with the fork wars.
48:35
Take a look at how that ended up for the people that tried to go
48:40
against the grain. They got wrecked and they have a
48:42
whole lot less Bitcoin now than they had back then.
48:45
So you're, it's almost like you're incentivized to do
48:48
goodbye everybody else, right? So no one's better than their
48:52
their incentives. Once you understand that, that's
48:55
what's going to change the world.
48:56
That's what people don't understand.
48:58
And that is one of the most beautiful things about Bitcoin.
49:01
And imagine a world where all of a sudden there's one of the most
49:06
powerful people in the world. Their incentives align with
49:09
yours. It's impossible to imagine from
49:12
our perspective, but I think under a Bitcoin standard, that's
49:15
possible. In fact, I think that this has
49:17
happened many times throughout history.
49:19
Opti I don't think it's only been with Bitcoin.
49:22
I think this has happened when the world has ever transitioned
49:24
to like a sound money standard. All of a sudden things get
49:28
cheaper, you know, you live better, you prosper better.
49:32
But The thing is, every time we've transitioned to a sound
49:35
money standard, it's always been corrupted.
49:38
And I think gold, because of its physical characteristics, it
49:41
inevitably will get corrupted. But I think this is where
49:44
Bitcoin will succeed, where gold has failed Opti.
49:49
Yeah, well, I said it last week when we covered this news that I
49:54
personally cannot wait for the Bitcoin propaganda department to
49:58
get kicked into OverDrive. Now we have, you know, some of
50:01
the biggest institutions in the world shilling Bitcoin to their
50:04
high net worth individuals. I did mention that last week
50:07
about the fact that like they're only going to really show
50:10
Bitcoin ETFs to people that have what was it like $1.5 million
50:16
with, with them and are, you know, in into risky assets and
50:21
stuff. So there's still some
50:22
stipulations on this, but this does signal what we've been
50:25
saying for a long time. And now we're seeing that it's
50:29
finally playing out. Is that one, the institutions
50:32
move very slowly that you know that again, the same beaten
50:35
phrase that I use all the time. They're like the Titanic boat.
50:38
It takes a while for them to turn around and we're all you
50:41
know, we're on the we're on the little exit boats here.
50:43
And so we can, you know, zip around, we're on the little
50:46
speed yacht. So out here, every single one of
50:48
us, but you're that ever since Larry Fink got into Bitcoin,
50:52
obviously he's like for most bitcoiners, the big bad boss.
50:55
He's like the the big boogeyman in the financial world.
50:58
He basically whatever he says eventually goes, he, he might be
51:01
actually running the government for all we know because of how
51:04
corporations and lobbying works in, in DC.
51:08
But once he came out and legitimized Bitcoin as as an
51:11
asset, as a commodity and wanting to pursue the ETF, that
51:15
was, you know, the, the, the bell for everyone else, for
51:19
every other institutional manager in the world to be like,
51:21
oh, wait, you know, at one time it was career suicide to, to
51:26
even touch Bitcoin. And now we're seeing it's going
51:29
to become career suicide for people to not touch Bitcoin as
51:32
we saw with the Vanguard CEO and the whole Vanguard debacle that
51:36
now everyone is waking up to the the fact that, hey man, I'm
51:39
actually hurting my customers here by not allowing them to get
51:43
some exposure to Bitcoin. And once Morgan Stanley finally
51:47
unleashes their army of financial advisors to their high
51:51
net worth individuals, it's going to start trickle down and
51:54
everyone else is going to be like, well, hey, if this is good
51:56
enough for the rich guys, why isn't this good enough for me as
51:58
just an average person that's trying to protect my purchasing
52:01
power? So this is the trickle, you
52:03
know, what was the the Reagan thing?
52:05
Trickle down economic. This is the real trickle down
52:07
economics where finally the signal starts from the top and
52:10
then everyone else eventually gets on the Bitcoin life raft.
52:14
But hey, you just love to see it, of course, as a bitcoiner,
52:17
as a pure, you know, quote UN quote pure Bitcoiner, someone
52:20
that believes that most people should be holding spot Bitcoin.
52:23
Yes, there's some some trade-offs to this.
52:25
It is just ETFs. It is just being exposed to
52:28
their high net worth individuals.
52:30
But the legitimization of Bitcoin in, you know, Wall
52:34
Street or in traditional financial world in the
52:36
institutions, it's happening right now.
52:38
And so hey, where what beginning of Q3?
52:42
It seems like by Q4 things are going to really start to heat
52:45
up, and next year things are going to really start to heat
52:48
up. And like XX said in the chat,
52:51
like next year every institution's going to be all
52:54
about Bitcoin, especially once the price starts running.
52:57
You know, like we say, the aligned incentive structure of
53:01
Bitcoin works for all of us, and if you're an asset manager out
53:06
there, you're not going to shield some hot garbage on your
53:09
clients and then and then get wrecked on it and be happy about
53:13
it. It's like everyone in business
53:15
wants to make money. And if Bitcoin is outperforming
53:18
everything else, then they're gonna look like geniuses, even
53:20
if they know exactly what's going on or not.
53:23
Like they will look like geniuses once they allow their
53:25
customers to save in Bitcoin because hey, we all know numbers
53:28
gonna go up. It's that part of the cycle
53:30
where we're gonna get the next bull leg up and they're going to
53:34
be shilling it so hard that you just love to see it.
53:36
Like me and Nico and probably you guys out there, you know,
53:41
for for lack of better terms and having some self-awareness,
53:45
we're probably considered the idiots to all of our family,
53:48
families and friends. Even though we've been right,
53:50
even though we've been in Bitcoin for a long time, even
53:53
though we've been saving in Bitcoin for a long time and been
53:55
profiting because of number go up.
53:57
We don't have the sense of legitimacy that these
53:59
institutions have. And now they're going to go out
54:02
there and start to whisper in these really rich people's ears
54:05
that hey, you might want at least 1% of Bitcoin.
54:08
Hey, you might want 5% of maybe 10% of Bitcoin.
54:12
And now that signal spreading down, downward to the everyday
54:15
layman. And of course, you know, Wall
54:17
Street always likes to get their cake first.
54:19
So now everyone else is going to wake up.
54:21
It's like, well, hey, if Larry Fink is doing this, then I
54:24
should probably do that, too. And this is this is how the
54:28
dominoes fall. I think this is the necessary
54:30
evil that we all knew was going to happen.
54:32
We all knew eventually Bitcoin was going to get
54:35
institutionalized, that the institutions were going to come
54:38
in and want exposure to Bitcoin, and this is how we get to the
54:42
next level of mass adoption of Bitcoin.
54:44
But the the tropes remain the same.
54:47
You need to save in Bitcoin and take it into custody because
54:50
paper Bitcoin ETF Bitcoin isn't real Bitcoin.
54:53
Yes they hold Bitcoin, but you do not want to get rug pulled if
54:56
there's an inevitable 61O2 order here where there can just rug
54:59
pull the ETF stop you trading your ETFs.
55:02
The Bitcoin market is 24/7, 365 if you hold your own keys.
55:07
I'm 100% beautiful, beautiful. All right, everybody, before we
55:10
move on to the next segment, what are we going to talk about
55:13
Opti? Oh, I got a funny one.
55:16
I'm I'm excited for this one. So there's been a new trend.
55:18
It's actually an old trend, but it seems to have caught on the
55:22
Twitterverse recently. A lot of big personalities that
55:27
are loosely, you know, in the freedom front are doubling down
55:31
or it it almost seems like a coordinated effort to to
55:35
continue the meme of the CIA created Bitcoin.
55:37
So me and Nico are going to chat about this.
55:39
I'm excited for this. I got a Tucker Carlson clip, Tim
55:42
Poole clip and then some Bitcoiners takes on this and
55:45
like you know, should ITLDR it like no, let's just wait, just
55:49
wait, just let. CIA create Bitcoin.
55:51
Stay tuned. Let's see.
55:53
Let's find out. The daily culture.
56:03
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All right, man, I'm really excited about this topic,
57:14
talking about going outside the Overton window.
57:17
I absolutely love it. This is something that's been
57:19
going viral, this idea that somehow, you know, the CIA
57:23
created Bitcoin. Yeah, 100%.
57:27
So over the weekend, I'm sure if you guys are on Twitter, you
57:30
might have saw this. If you're not, then this was
57:33
going pretty viral on Twitter. Tucker Carlson did some speech
57:38
last week and you know, these, these are getting reposted by
57:42
people that that aren't actually in necessarily our echo chamber.
57:45
You know, Jack Shields got 731 K followers, former UFCMMA
57:50
fighter. I think he was like loosely
57:52
Bitcoin too. But anyways, here's the clip.
57:54
Tucker says the CIA invented Bitcoin.
57:56
What is more likely, some secret guy with a Japanese name or a
57:59
powerful government built it? Let's watch this little clip.
58:01
Crypto people aren't just in it to make a buck, they're in it to
58:04
change the world forever. These are not shallow people.
58:07
These are people who can answer every single question except who
58:09
was Satoshi, which they don't answer.
58:11
Someone should answer that did Nope, I think we know anyway.
58:15
In fact, I have a friend who's probably sitting here who told
58:17
me he did know, but I don't believe him.
58:19
And I don't care if it was the CIA.
58:20
It doesn't matter. The idea is still a.
58:22
Great idea. Obviously it was the CIA.
58:24
I think we all know that. It's like Signal they got there
58:28
first. It's Sony trap crypto people.
58:30
Well, First off, like taking it on the surface, it does, you
58:34
know, talking about Bitcoin being created by the CI.
58:37
He said the friend tells him that it does seem like Tucker's
58:40
like kind of joking about and he's like, yeah, what?
58:41
Like even if it does, like, who cares?
58:43
But like we all know that it did.
58:45
But that would have been, you know, if if just Tucker said
58:48
this, then it would have been like, whatever, you know, Tucker
58:50
still has a lot to learn. I know he's like loosely getting
58:53
involved in the Bitcoin space. He wasn't Nashville, you know,
58:56
last week for around the Bitcoin conference and he's going to do,
59:00
I think still that swan tour where he's going to be talking.
59:03
No, that was cancelled. Oh, it's cancelled?
59:05
Never mind then. No, he's still.
59:06
Doing the tour but. OK, so he's still talking to
59:09
Bitcoiners and he's still having these conversations with
59:12
Bitcoiners and it seems like he he understand what we want to do
59:15
and and he's really like, I think gonna soon enough get
59:18
involved in the Bitcoin space. But of course, if it was just
59:21
Tucker talking about this, then it would have been like a
59:24
nothing burger. And then, you know, the next day
59:26
we have Tim Poole here doing literally the same trouble,
59:30
which goes back to, like, what we were saying in the beginning
59:33
of, like, yeah, legacy media is very coordinated.
59:35
But when you see kind of, I won't say coordinated, but when
59:38
you see multiple people saying the same thing at the same time,
59:42
that's when, like, my Spidey senses pop up.
59:43
So Tim Poole. Here is a group think.
59:46
Yeah, it's kind. Of like a group think and I'm
59:47
I'm just like I always get a little weird with the group
59:49
think stuff. So anyways, Tim Poole here, it
59:51
did the CI or he says CI invented Bitcoin and then he's
59:54
got this ChatGPT here, which is like very low hanging mediocre.
59:59
Troll. But anyways, just just taking
1:00:01
them on the surface, considering their positions and their
1:00:03
platforms in the world, I think we can kind of at least take
1:00:07
this conversation somewhat seriously.
1:00:10
He's got ChatGPT and he asks, what does Satoshi mean in
1:00:13
Japanese? In Japanese, does Satoshi means
1:00:15
wise or intelligent? And then he goes, what does
1:00:18
Nakamoto mean? And then he goes, Nakamoto is a
1:00:19
Japanese surname. The characters can be broken
1:00:22
down as follow. Naka means middle or center and
1:00:24
Moto means. Origin or base?
1:00:26
So Nakamoto can be interpreted as central origin or root of the
1:00:30
center. And he goes, the CIA invented
1:00:32
Bitcoin. But there's some good comments
1:00:34
here from Bitcoiners. First of all, Lynn Alden, to be
1:00:37
clear, you're saying that you know that Bitcoin was invented
1:00:40
by an organization known for its secrecy because they put their
1:00:44
name on it. Question mark.
1:00:46
And then our boy Richard Whitman goes, the military created the
1:00:50
Internet and here you are using it to make 1,000,000 Lowell or
1:00:53
Joe Nakamoto trolling level mediocre.
1:00:56
And then this kind of caught the rounds before or caught the
1:01:00
rounds on Twitter. And you see Jimmy Song goes, the
1:01:02
CIA doesn't have the economic sophistication to make Bitcoin.
1:01:06
And then another great comment, which I think this is like the
1:01:09
real signal to Bitcoin. Once you understand the
1:01:12
technicals of Bitcoin and the fact that it's fully open
1:01:15
source. Like even if they did or even
1:01:17
had the sophistication to make Bitcoin, the CIA, it wouldn't
1:01:20
really matter. And it's but it's open source.
1:01:23
So even in the off chance they did, it works beautifully.
1:01:26
We can all audit the code. We can all see what's going on
1:01:28
in the code. And it's very interesting that
1:01:32
Satoshi, when he created Bitcoin, used Shaw 256 for its
1:01:36
encryption. And if you really want to go
1:01:38
down the angle of like maybe a government institution, you
1:01:41
know, an ABC organization created Bitcoin, it wouldn't be
1:01:45
the CIA. It would most likely be the NSA.
1:01:48
Shaw two or Shaw 256 was a cryptographic hash function
1:01:52
designed by the United States National Security Agency.
1:01:55
See now do I believe that Bitcoin was created by an ABC
1:02:00
organization? No.
1:02:01
But if anything, if the only tell here like if the only in my
1:02:06
opinion rational thought is it could have been created by
1:02:10
someone within the NSA, but that doesn't necessarily mean the NSA
1:02:14
created it in the 1st place. It it most likely was created by
1:02:17
some rogue cryptographic agent that, you know, worked in the
1:02:21
NSA because hey, if you're one of the best cryptographic, you
1:02:25
know, if if you're one of the best in cryptography, you're
1:02:27
probably working for the NSA. Now there is a lot of talk in
1:02:32
the past about the fact that Satoshi did choose Shaw 256,
1:02:36
which is now, you know, thanks to Edward Snowden, shown to be
1:02:40
the only encryption protocol that doesn't have a back door.
1:02:46
It is very interesting that Satoshi chose that one before
1:02:49
that news came out from Edward Snowden.
1:02:51
So do I believe the CIA created Bitcoin?
1:02:54
Obviously, no, I do not. Do I believe the NSA as an
1:02:58
institution or organization created Bitcoin?
1:03:00
No, I do not. I think it if anything could
1:03:02
have been created by a rogue actor within those institutions
1:03:06
that organization, cuz someone with the prowess of Satoshi
1:03:10
Dakamoto isn't just like some random layman, you know, and
1:03:13
where and we're kind of going down the idea that it's just one
1:03:16
person. It could have been a group of
1:03:18
people. But I, I think I think that CIA
1:03:21
or Bitcoin created CIA meme has been thoroughly debunked the
1:03:24
last 15 years. But it is very interesting that
1:03:27
two very prominent independent content creators are saying a
1:03:32
very similar narrative right now that the CIA invented Bitcoin,
1:03:36
which makes me wonder why? Why are they doing this and
1:03:40
where what is, you know, what is the angle here?
1:03:44
Is it to get people to not buy Bitcoin?
1:03:47
Are they trying to scare people away from Bitcoin?
1:03:49
We did cover a couple of months ago that Tim Paul seems to be
1:03:53
talking about being a bitcoiner and saving in Bitcoin.
1:03:56
But it is very interesting. He could just be trolling here,
1:03:59
but there is a lot of new people and this is one of their early
1:04:03
thoughts when they come into Bitcoin, like, oh, the CIA
1:04:06
created Bitcoin, like I'm staying away from it.
1:04:09
Even if it were true, the software is completely open
1:04:12
source. It's been audited.
1:04:14
There, there. There's no back doors.
1:04:16
Like that's not a real concern for you not to save in Bitcoin
1:04:19
as far as I'm concerned. Personally, I'm incredibly
1:04:22
bullish that the CIA created Bitcoin.
1:04:26
If I would have seen this trend, that's what I would have
1:04:28
tweeted. I think everything is good for
1:04:31
Bitcoin. And we were talking about
1:04:32
alignment of incentives. Can you imagine the CIA aligning
1:04:35
the incentives with yours? That would be magical.
1:04:37
No, I'm just kidding. Hey, wait, wait, wait.
1:04:39
Before you go on. Before you go on.
1:04:42
Even if it was. Them of all people or all
1:04:45
organizations, the CIA would understand why they need a money
1:04:49
that isn't controlled by the federal government because of
1:04:51
all of the crazy criminal stuff that they're doing so I, I
1:04:55
endorse what you're. Talking about.
1:04:57
You didn't say that. Oh, I'm sorry, I'm sorry,
1:05:00
YouTube. I I was metaphorically joking.
1:05:06
Do you wanna get assassinated, man?
1:05:08
Dude, if they martyr me then that just means everything I
1:05:11
said was you wanna get. Trumped bro.
1:05:13
Like, come on now, come on now. It just means I'm right.
1:05:16
I'm okay with it. Man, Okay, well, yeah, I mean,
1:05:20
dude, I don't think well. Wait, wait, wait.
1:05:23
Hold on, hold on Nico, hold on before I have.
1:05:25
I think I have like I think I know, I think I know who was
1:05:28
involved in the creation of. Bitcoin.
1:05:31
All right, all. Right.
1:05:32
All right before the CIA. Nico, before you go into the
1:05:34
maybe the CIA? I have no idea.
1:05:37
I don't know. I have no idea.
1:05:38
We have no idea before we go into whether the CIA invented
1:05:41
Bitcoin. Touch on the the fact that it
1:05:44
did seem a little coordinated here like that would does that
1:05:48
not seem a little iffy the rollout was was suspicious.
1:05:55
The rollout was suspicious, but yeah man, I think that was a
1:05:58
great culture bit. Let us know down in the comments
1:06:01
guys, if you like this. They totally are rip off the if
1:06:09
Opti is missing tomorrow, you know what we're putting up the
1:06:12
good fight. So let us know in the comments.
1:06:17
Do you think do you think the CIA created Bitcoin?
1:06:20
Let us know. I don't think so, Opti.
1:06:22
I don't think Opti thinks. So either no, I don't.
1:06:24
Some people might think Tucker, I would say he's close, but he's
1:06:29
not quite there. But don't fret on it because
1:06:34
look, Larry Fink, Donald Trump and Tucker Carlson on their
1:06:39
first year of understanding Bitcoin, but because they're
1:06:42
public figures, it like they're under scrutiny.
1:06:46
But do you remember the first year you were into Bitcoin?
1:06:49
Yeah, I was a. Lot of people highly regarded.
1:06:52
I've met a lot of bitcoiners, a lot of them start shit coining
1:06:55
first, right. So you know, like I'm just
1:06:58
saying, just saying. And and like imagine five years
1:07:01
from now when they they will understand it at that point,
1:07:04
like they will have put the time to get it.
1:07:06
And these are very influential people.
1:07:08
So anyways, guys, if you enjoyed the show, you know what to do
1:07:12
Smash the like button. Consider subscribing if you feel
1:07:14
like we've provided you value and we'll be back tomorrow
1:07:18
because we're Simply Bitcoin. We go live Monday through
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Friday, 12:15 PM Eastern Standard Time.
1:07:24
So leave a comment, like I said, like the video, subscribe, all
1:07:27
that good stuff. I'm your host, Nico.
1:07:29
This is my Co host Optimus Fields and we'll be back
1:07:32
tomorrow for another episode of Simply Bitcoin Live.
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Episode was brought to you by bitcoinwell.com on a mission to
1:07:42
enable independence.