Latest / Simply Bitcoin / BREAKING: China Approves First Spot Bitcoin ETF | EP 969

Transcript

BREAKING: China Approves First Spot Bitcoin ETF | EP 969 · Simply Bitcoin

• 0:03
  It's. All going to zero against
• 0:05
  Bitcoin. It's going out forever.
• 0:15
  You're. Against Bitcoin, you're against
• 0:17
  freedom. Well.
• 0:23
  Because they want to sell. It eventually, Michael.
• 0:25
  I mean let's be honest, most of the people who are, yes, sure
• 0:28
  some people pass it on to their children, but like most of the
• 0:31
  people who are buying assets at some point want to sell the
• 0:35
  assets at a profit. So I.
• 0:37
  Guess. Let me say it differently.
• 0:38
  People that use Fiat currency as a store of value, there's a name
• 0:43
  for them. We call them poor.
• 0:45
  Yeah, welcome to another episode of Simply Bitcoin Live.
• 0:47
  You're number one source for the peaceful Bitcoin revolution.
• 0:49
  Car breaking news, Culture, Traumatic Warfare will be your
• 0:51
  guide through the separation of money in state.
• 0:53
  Ladies and gentlemen, welcome to Simply Bitcoin, the most watched
• 0:55
  daily Bitcoin live show on YouTube.
• 0:57
  Rumble an X, sit back, relax, enjoy the ride.
• 0:59
  We have a lot of topics to cover today.
• 1:01
  Specifically, the ETF in Hong Kong has been has been given the
• 1:07
  initial approval. I put it in the China.
• 1:09
  I put it in the title though. Basically the Chinese ETF has
• 1:14
  been approved. Why do I say that?
• 1:16
  Well, we've been covering this for quite a while.
• 1:18
  We've pulled out the receipts. We've shown you the Bloomberg
• 1:21
  article and we'll even dive into what the specific, which company
• 1:27
  got the approval and guess where this company is based out of
• 1:31
  Beijing, right. So I believe that they're using
• 1:34
  Hong Kong really as a proxy for a Chinese ETF and of course here
• 1:39
  in the US, the BlackRock ETF and all the other ones, the vast
• 1:44
  majority of them are custodied with Coinbase makes it extremely
• 1:47
  easy for the US government to just, you know snap their
• 1:50
  fingers 61O2 order two point O that functions as the American
• 1:55
  ETFs, right. So we're going to dive into all
• 1:57
  of that. Also a couple other topics we
• 1:59
  wanted to cover is the geopolitical risk, right.
• 2:02
  You know a lot of people it's they saw that right?
• 2:04
  The the, the IT seems like the crisis in Israel is is
• 2:08
  escalating. We had a huge price stump
• 2:10
  because of that. And of course we've been here
• 2:13
  before in terms of bitcoin's history and these price dumps
• 2:17
  create some of the best buying opportunities, right?
• 2:20
  It gives you Bitcoin at 10%, twenty percent, 30% discount
• 2:24
  depending on the cycle. So really excited to go into all
• 2:27
  of that. And of course, you guys know I
• 2:29
  love to talk about the Overton window and how it's slowly
• 2:32
  shifting. Well, there was a kind of a big
• 2:34
  MMA fight over the weekend and seems like one of the one of the
• 2:38
  winners. In his his victory speech, he
• 2:41
  was talking about Austrian economics and if you want to
• 2:45
  save your country, you know, he, he loves the Second Amendment,
• 2:49
  freedom of speech, Austrian economics.
• 2:51
  So again, that I think is another indication of the
• 2:54
  Overton window shifting. Another representation of that,
• 2:57
  of course is the first libertarian president to ever
• 3:00
  get elected. And of course, I'm talking about
• 3:02
  Javier Malay in Argentina. So yes, the Overton window is
• 3:05
  definitely shifting. I think that's due to the
• 3:08
  Internet. I think the Internet is
• 3:10
  empowering people in two ways. It allows them to do their own
• 3:13
  research, consume the information they want to
• 3:15
  consume, and way #2. But this only applies if you
• 3:19
  take self custody. It allows you to.
• 3:22
  It allows you to choose which money you want to use.
• 3:25
  And I was actually, and I've literally read and listened to
• 3:28
  this book at least 10 times, and I'm still not sick of it.
• 3:33
  But I was listening to the Sovereign individual audio book
• 3:37
  on the way back from Texas yesterday.
• 3:39
  And it just seems like all of this is playing out right the
• 3:42
  great disintermediation of information, the great
• 3:45
  disintermediation of money. And if you're positioned
• 3:48
  correctly, you, you know, I think it's going to we as a
• 3:52
  society, as human civilization is going to enter an era of
• 3:56
  freedom the likes of which I don't think we've ever seen
• 3:59
  before. And I'm extremely optimistic
• 4:01
  about it. So Speaking of optimism, bring
• 4:05
  up my legendary Co host who is optimistic today.
• 4:08
  He has a giant smile on his face and he's wearing the
• 4:11
  conservative progressive libertarian bitcoiner shirt,
• 4:14
  which is absolutely pat badass. How you doing Opti?
• 4:18
  I am doing wonderful guys. But my I think I did lose my
• 4:21
  voice. So my my voice is a little rough
• 4:23
  today. We had a long week, you know, a
• 4:26
  six day work week this week Nico.
• 4:28
  But hey, it was all for the culture.
• 4:30
  It was it was all to, you know continue to spread the Bitcoin
• 4:33
  signal shouts out to every single person that showed us
• 4:35
  love in Dallas. It it really means a lot to us.
• 4:39
  You know the amount of people that came up to us and we're
• 4:41
  like, man, we love what you're doing, continue to do it.
• 4:43
  It really, really means a lot to us and shouts out to every
• 4:46
  single person that we were hanging out with.
• 4:47
  It's it's so awesome to hang out with bitcoiners and and at this
• 4:51
  point some people that I consider family not just friends
• 4:54
  or you know fans out there like you guys are family appreciate
• 4:58
  you guys coming up to us and showing us love it really means
• 5:01
  a lot but before we go on Nico I do want to comment on one of
• 5:04
  these questions or these these comments in the chat shouts out
• 5:07
  the Briggs. Bitcoin doesn't crash it just
• 5:10
  goes on sale. You know, it's it's amazing that
• 5:13
  Bitcoin's already back at this price.
• 5:14
  It would drop to, what, 60 K? We're back at 65 K It's almost
• 5:18
  like nothing happened over the weekend.
• 5:19
  It's almost like the Bitcoin world just keep chugging along
• 5:22
  and we're like, life's so much better on the Bitcoin standard.
• 5:25
  Anyways, let's bring in our boy today, 'cause I had a great time
• 5:29
  with Adam from Bitcoin. Well, it was a it was a great
• 5:34
  time, bro. How you doing?
• 5:35
  Bless up, fam. It's straight gas here with my
• 5:38
  besties. You know this is lit.
• 5:42
  Fire, bro. Fire.
• 5:47
  What the hell are you saying, man?
• 5:49
  You know man, what do you spend when you spend three or four
• 5:53
  days with Opti? You just kind of you just kind
• 5:55
  of end up talking like a like a valley girl zoomer.
• 5:59
  You know and and I think it may be rubbed off on me a little bit
• 6:02
  too much so maybe I'm happy to be back in Canada and just a
• 6:05
  little bit of space so I can I can think of it normally again.
• 6:08
  Yeah, guys, you you should have saw this bus.
• 6:10
  It was all of us like leaving. And it was Nico, me, Adam, Isa,
• 6:17
  you know the Bitcoin well, boys. And we were literally learning
• 6:21
  how to speak Zoomer. Everyone's making fun of me,
• 6:23
  'cause I speak in Zoomer, and I was teaching them the ways,
• 6:27
  guys, I was teaching them the ways.
• 6:30
  For show, for show good to. Meet you too man.
• 6:32
  That was a fun week. I and Opti just like on what you
• 6:34
  said man. It was so nice meeting people
• 6:37
  and seeing people and just saying hey to everyone and you
• 6:41
  know getting the feedback and it's been, it's been really
• 6:43
  encouraging. So yeah, great to meet everyone
• 6:45
  and was super stoked to to be able to hang in in Texas.
• 6:50
  Bet for show, For show, anyways. Awesome.
• 6:55
  But now what's up? What a fake?
• 6:57
  Why this weekend was clipped is clipped?
• 7:01
  What I realized, what I've realized this weekend, is that
• 7:04
  Opti literally has a soundboard Opti.
• 7:07
  I only speak in memes, guys. Sorry, not sorry.
• 7:10
  Opti literally has a soundboard of like, I think like 20
• 7:14
  responses. And now that he pointed it out,
• 7:16
  I'm like, oh wow, so I've just been talking to a soundboard.
• 7:20
  Jose Cuermo gets it. No cap on God, we busted.
• 7:29
  Okay. So I'm gonna keep starting with
• 7:31
  the Michael Saylor intro until Opti puts it on the soundboard,
• 7:35
  which is why I did it. OK.
• 7:36
  I I yeah, I'll do that. So anyways, it's gonna be a
• 7:39
  great show. We're gonna talk about Bitcoin.
• 7:41
  Well, we're gonna talk about the importance of self custody.
• 7:43
  We have a Reddit post for you guys as well, which I think is
• 7:46
  like a very sinister warning of where I think this is going.
• 7:49
  And again, I can't emphasize, guys, if you have not read the
• 7:52
  book, the sovereign individual, like what they predicted is like
• 7:56
  playing out in real time. And again, like if you kind of
• 8:01
  like, you know, look gays into the future because of how much
• 8:05
  Bitcoin is going to change the relationship between the
• 8:09
  individual and the state, the state is going to fight back in
• 8:13
  a way, right? And this isn't a kinetic war.
• 8:16
  It's going to be an information war.
• 8:17
  It's going to be a war for winning over the hearts and
• 8:20
  minds of individuals. But they're going to try to keep
• 8:23
  as many people as possible in the existing system.
• 8:26
  Because if they don't, that system can't stand up on its own
• 8:31
  2 feet, right? They need people within the
• 8:34
  system for the system to function like it functions,
• 8:37
  right. So we're going to talk about the
• 8:38
  importance of self custody, of course, Bitcoin, well, automatic
• 8:42
  self custody by default. And we're going to talk about
• 8:45
  that. We're going to dive deep into
• 8:46
  all those subjects. All right, no more delay.
• 8:48
  Let's start the show. But before we do that, I do want
• 8:50
  to give a very special shout out.
• 8:52
  And of course, I just mentioned them too.
• 8:54
  Bitcoin, well, Bitcoin well is the best place to build your
• 8:57
  automatic self custody Bitcoin stack.
• 9:00
  It's a publicly traded company coming out of Canada that
• 9:03
  recently expanded to all 50 states.
• 9:05
  That's right. It's self custody by default,
• 9:08
  which perfectly aligns with the simply Bitcoin ethos of the
• 9:11
  separation of money in state. What is self custody by default?
• 9:14
  You can't buy Bitcoin on Bitcoin.
• 9:16
  Well, unless you're going to take self custody, and after
• 9:19
  all, self custody is the revolution, visit
• 9:22
  bitcoinwell.com/simply Bitcoin today.
• 9:25
  Don't go to bitcoinwell.com/BTC sessions.
• 9:28
  And I also want to give a shout out to the Bitcoin Jackpot
• 9:32
  contest which is currently live. I believe we're definitely going
• 9:36
  to hit 5,000,005 million Sats and the winner is going to be
• 9:41
  announced during the halving. The way that you enter is you go
• 9:44
  to bitcoinwell.com/contest, you sign up to the platform if
• 9:48
  you're an existing user, you go to the reward section.
• 9:51
  Every time you buy Bitcoin, you earn points and you could point
• 9:54
  those points towards the Bitcoin jackpot contest, and that gives
• 9:58
  you an opportunity to win a nice little Bitcoin jackpot of 5
• 10:02
  million Satoshi's anyways. 1010 million sat still in play,
• 10:06
  right, Adam? Yo, we actually, I'm just
• 10:08
  looking right now, 'cause I'm looking at this right now,
• 10:10
  realizing I forgot to update it over the weekend.
• 10:12
  We're at 5 mil, so 5,592,000 stats in the jackpot, winners
• 10:18
  taking home 69% of that. And real quick, just 'cause
• 10:21
  we're plugging in, I guess I'm doing my own ad reason now, so I
• 10:23
  don't know what the hell I pay you guys for, but there is a a
• 10:28
  poll on the Bitcoin Well, Twitter and 'cause we're doing a
• 10:32
  partnership with Geyser, and so a Geyser project is getting 10%
• 10:36
  of that jackpot. So over 500 K sats going to a
• 10:39
  Geyser project. There's three wicked projects to
• 10:43
  choose from, so go vote on the poll on the Bitcoin Well
• 10:46
  Twitter. Hell yeah, Hell yeah.
• 10:48
  All right, guys, you can go follow the Bitcoin well.
• 10:50
  Twitter at the Bitcoin Well, and you could follow Adam O'Brien.
• 10:55
  Adam will buy under score on Twitter as well.
• 10:57
  Adam's been dropping some some hot fire anyways.
• 11:00
  All right, everybody, let's get some numbers.
• 11:02
  We have a lot to talk about. The.
• 11:05
  Bitcoin numbers Is your Bitcoin and cold storage really secure?
• 11:10
  Is your seed phrase really secure?
• 11:12
  Stamp seeds? Do it yourself.
• 11:14
  Kit has everything you need to hammer your seed words into
• 11:18
  commercial grade titanium plates instead of just writing them on
• 11:22
  paper. Don't store your generational
• 11:25
  wealth on paper. Papers prone to water damage,
• 11:28
  fire damage. You want to put your
• 11:30
  generational wealth on one of the strongest metals on planet
• 11:33
  earth, Titanium. Your words are actually stamped
• 11:36
  into this metal plate with this hammer and these letter stamps.
• 11:40
  And once your words are in, they aren't going anywhere.
• 11:42
  No risk of the plate breaking apart and pieces falling
• 11:46
  everywhere. Titanium stamp seeds will
• 11:48
  survive nearly triple the heat produced by a house fire.
• 11:51
  They're also crush proof, waterproof, non corrosive, and
• 11:54
  time proof. All things that paper is not
• 11:57
  allowing you to huddle your Bitcoin with Peace of Mind.
• 11:59
  For the long haul. Stamp your seed on stamp seed.
• 12:04
  All right, ladies and gentlemen, at the time of recording, the
• 12:06
  Bitcoin price is 64 K flat. That's per dollar 1563.
• 12:12
  Satoshi per dollar block height 839,000, 362 having estimate
• 12:18
  April 19, 2024. Speaking of that, ladies
• 12:21
  gentlemen, Opti will be holding it down Thursday and Friday
• 12:24
  because I will be in Nashville, TN for the Bitcoin Magazine
• 12:27
  having live stream. Just to give you guys a heads
• 12:29
  up, total lightning network capacity 4376, Bitcoin capacity
• 12:34
  value 280 million U.S. dollars. Realize monetary inflation
• 12:38
  1.73%. The market capitalization is
• 12:42
  1.62 trillion. Bitcoin verse gold.
• 12:45
  Bitcoin verse gold market cap 9.11%.
• 12:49
  All right, ladies and gentlemen, let's move on to what happened
• 12:52
  over the weekend. You guys love that.
• 12:54
  I'd like to talk about the Overton window, but so does John
• 12:57
  Vas and so does Elon Musk, and I'll get that.
• 12:59
  I'll get to that in a second. So what happened?
• 13:02
  So at UFC 300, which we actually got to see a little bit of the
• 13:07
  Adam and I we went to, we went to a very family.
• 13:11
  Friendly, family friendly restaurant.
• 13:14
  We we went to a family friendly wholesome bar and we we saw the
• 13:18
  fight and what that knockout was absolutely crazy.
• 13:21
  Anyway, here is one of the winners from over the weekend
• 13:24
  and let's check out what he has to say.
• 13:26
  And of course he was talking to Joe Rogan, so let's check it out
• 13:29
  I. Love it.
• 13:29
  Property. Property.
• 13:31
  And let me tell something. If you care about your fucking
• 13:34
  country, I'll read Ludovic Vomitis and the 6th Lessons of
• 13:39
  the Austrian Economic School. Motherfuckers.
• 13:43
  So and then before that, he's like, I love the Second
• 13:45
  Amendment. I like to own guns, I like
• 13:48
  private property, you know. And then of course, he's touting
• 13:51
  Austrian economics. And Brazil is going through a
• 13:54
  very kind of tumultuous political situation, right?
• 13:58
  We, we read you guys about the Twitter files, about how a
• 14:00
  Supreme Court judge in Brazil is putting pressure on Twitter to
• 14:05
  suppress certain voices, censor certain voices.
• 14:08
  And I think it all just comes down to, you know, really like
• 14:11
  there's two options, right? There's the free market, a non
• 14:15
  coercive way for society to kind of organize itself.
• 14:18
  And then there's this like top down, centralized kind of
• 14:22
  approach and it always ends badly.
• 14:25
  But I I guess people still haven't woken up, Like still
• 14:28
  people are still trying the same thing and expecting different
• 14:31
  results. Anyways, here's Tur de Meester
• 14:33
  and he says many saw Moicano's epic MMA speech.
• 14:37
  The six Lessons have a fascinating back story linking
• 14:40
  Argentina's history with its current president.
• 14:43
  The story starts in 1959, a time when Argentina was on a
• 14:47
  crossroads of a crossroads of remaining on the socialist path
• 14:51
  of then exiled President Juan Peron, or returning to the
• 14:54
  classical liberalism it had been famous for until the 1940 night
• 14:58
  lug Juan Mises, a 70 year old professor, one of the Europe's
• 15:01
  last free market intellectuals who left his native Austria to
• 15:04
  flee the Nazi regime. And who'd by then found a safe
• 15:08
  home in the United States, receives an invitation.
• 15:10
  It's a letter from Argentina, sent to him by a Mr. Alberto BB
• 15:15
  Benegas Lynch from the Center for the Promotion of the Free
• 15:19
  Economy in Buenos Aires, inviting him to come give a
• 15:22
  series of lectures. Mrs. agrees, and the what I I
• 15:26
  That word is nuts. Siba.
• 15:28
  What the hell is that? Opti.
• 15:31
  Septing. I can't even say it septing.
• 15:35
  You want to take a crack at that?
• 15:37
  For. Real.
• 15:38
  That's bussing. OK, a Mises agrees.
• 15:44
  Basically, Boomer and and then Zoomer lingo.
• 15:46
  I have no idea what that word means, so I'm just going to skip
• 15:49
  it and say Mrs. agrees and makes the 5000 mile journey S He gives
• 15:53
  his lectures in English, with the audience given access to
• 15:56
  headsets with simultaneous translation into Spanish and
• 15:59
  mises. Characteristically bold and
• 16:01
  precise style, he contrasts capitalism and socialism and
• 16:05
  talks about the dangers of inflation and interventionalism.
• 16:08
  Fast forward to 60 years later, outsider Javier Malay is running
• 16:12
  for president. At some point during his career
• 16:14
  as an economist, Malay discovered Austrian economic
• 16:16
  economics and completely fell in love with it.
• 16:18
  His message of free and open markets resonates especially
• 16:22
  with the disenfranchised, impoverished use of Argentina.
• 16:25
  Again and again the heavily sideburned maverick repeats the
• 16:29
  the watchword of his campaign. Classical liberalism, as well as
• 16:33
  its definition coined by the art by an Argentine free market
• 16:36
  economist greatly admired by Malay, quote.
• 16:39
  Liberalism is the unrestricted respect for the life project of
• 16:42
  others, based on the principle of non aggression and the
• 16:45
  defense, the defense of the right to life, liberty and
• 16:48
  private property. Who is this free market
• 16:51
  economist so off coded by Malay, the one who appeared on stage
• 16:54
  with him celebrating his surprise election.
• 16:56
  It is Alberto Banegas. Holy cow.
• 16:59
  Had that, that made full circle. It is Alberto Banegas Lynch
• 17:02
  Junior, the son and namesake of the man who invited lug, Lugwig
• 17:06
  von Mises, deliver 66 lectures in Buenos Aires 60 years ago.
• 17:12
  Here's a quote. I consider it a very good sign
• 17:14
  that while 50 years ago practically nobody in the world
• 17:17
  had the courage to say anything in favor of a free economy, we
• 17:21
  have now, at least in some of the advanced countries of the
• 17:24
  world, institutions that are centers of the propagation of
• 17:27
  free economy, such as, for example, the Central and Buenos
• 17:30
  Aires. So I mean, yes, this is, This is
• 17:33
  why I keep, you know, banging the drum on the shift of the
• 17:36
  Overton Window. The fact that, you know this,
• 17:40
  this fight was watched by a lot of people, right.
• 17:43
  The fact that it's an MMA fighter himself talking about,
• 17:47
  you know, the the awesome you know, at Austrian School of
• 17:50
  Economics tells me that we're heading the right direction.
• 17:53
  The fact that Javier Malay, you know, gave a speech at the
• 17:56
  Contillionaire conference, also known as the World Economic
• 17:59
  Forum, and he literally said that money printing is a form of
• 18:04
  a form, a mechanism in which you can control people, tells me
• 18:08
  that again, the Overton window is shifting.
• 18:10
  Right. You have John Vallas saying the
• 18:12
  same thing. And if you still don't believe
• 18:14
  me, let's take a look at Google Trends.
• 18:16
  This thing absolutely skyrocketed.
• 18:18
  People are asking, who is Lugwig von Mises?
• 18:20
  Right. And then this leads me to, of
• 18:23
  course, Elon Musk. You know, Elon Musk freed the
• 18:25
  bird. He bought Twitter.
• 18:27
  You know, he's supporting free speech as much as he can, right?
• 18:29
  Of course, we're friends of Noster think you can't really
• 18:32
  censor A protocol. You know, a centralized platform
• 18:34
  is a different story, but hey, it's a step in the right
• 18:36
  direction. And he says the refreshing
• 18:38
  breeze of the Overton window opening.
• 18:41
  I completely agree. And I think all of this like a
• 18:44
  couple thoughts and then I'll pass it on to Opti and Adam.
• 18:47
  So thought number one is, I don't think Austrian economics
• 18:51
  is possible without Bitcoin. I think inevitably the state
• 18:57
  captures money. Money becomes political and it
• 19:01
  funds, you know, kind of these collectivist ideologies.
• 19:04
  I actually tweeted out a couple days, I think it was like a week
• 19:07
  ago or so. And it just like it came
• 19:09
  original, thought like one in the morning or something like
• 19:11
  that. And I was like, Fiat fuels
• 19:14
  collectivism. Well, it's to be precise.
• 19:17
  I said Fiat fuels socialism. Bitcoin starves it, right?
• 19:21
  If you don't believe me, the 5th tenant in the Communist
• 19:23
  Manifesto is the necessity for the centralization of credit,
• 19:26
  the necessity for the central, the necessity for a central
• 19:29
  bank. Really.
• 19:30
  So yeah, I I think, you know, I I this is awesome because more
• 19:35
  people are waking up to this. More people are coming to the
• 19:38
  realization that there is an alternative, there is an
• 19:41
  alternative way. And I think all roads lead to
• 19:44
  Bitcoin, right? If you really support Austrian
• 19:47
  economics and you don't support Bitcoin, or if you know you
• 19:50
  support freedom and you don't support Bitcoin, it's 'cause you
• 19:53
  don't really understand Bitcoin. The Bitcoin is the only tool
• 19:57
  that you know can realize that dream and that hope of that
• 20:01
  society that you want to live in.
• 20:02
  So that's my take. For real?
• 20:04
  For real Bet I'm going to pass it on to Adam and then Opti.
• 20:08
  Man, I had two thoughts about this.
• 20:11
  The first one or the first take that I like.
• 20:13
  This wasn't my thought, but someone tweeted a quote, quote
• 20:16
  posted that and said this is so based that I thought a bitcoiner
• 20:21
  AI thumbs up AI dubbed it because it is so on point and I
• 20:25
  totally agree. I think it's amazing how like
• 20:29
  this guy is not outspoken about being a Bitcoiner.
• 20:31
  I have no idea if he owns Bitcoin, but it's incredible how
• 20:36
  Bitcoin is the undertone to these types of beliefs, this
• 20:39
  type of ideology and this type of of desire for prosperity in
• 20:44
  an economy and and in a country and in a planet.
• 20:47
  And so I love it. I think it's fantastic.
• 20:50
  Also what I what I was thinking about is that it's so sad that
• 20:54
  this type of language would be damning in any other sports
• 20:58
  organization. You don't see, you know,
• 21:00
  somebody lifting up the Stanley Cup, getting a an award and then
• 21:05
  and then you know, talking about the importance of of of free
• 21:08
  speech. You don't see somebody winning
• 21:09
  the Super Bowl. It's all just the templated
• 21:12
  answers, you know, getting the corporate stay within the
• 21:15
  corporate lines, don't talk out about anything.
• 21:18
  Shut up and dribble is another thing that we saw.
• 21:22
  And our organizations, our corporate organizations are
• 21:24
  censoring, censoring, censoring. So now we've gone from the media
• 21:27
  is censored, has been for 40 years and that's kind of coming
• 21:30
  up or coming alive. The medical industry has been
• 21:33
  censored and this is now coming out and has been for the last
• 21:36
  five years. Our sports organizations are
• 21:38
  being censored. Like, where does it end?
• 21:40
  At what point we got schools? Like, everything is just being
• 21:44
  held hostage by this censorship. And I think it's so awesome that
• 21:48
  Dana has kind of let his, his fighters, you know, speak their
• 21:52
  minds. And I also think it's quite
• 21:54
  hilarious that we witnessed these guys, like, getting
• 21:58
  concussed for 15 minutes, then we put them on the mic in front
• 22:01
  of like 20,000 people. I think that's beautiful.
• 22:03
  We get the most raw thought, like the very, very basic
• 22:06
  thought for a couple seconds. Joe Rogan's an absolute genius
• 22:10
  for for doing that, but I think it's awesome.
• 22:12
  And I saw an interview of a reporter interviewing Dana and
• 22:17
  it just hits home so well the state of journalism and the
• 22:21
  state of media? The reporter asked Dana.
• 22:23
  He says, hey, it looks like you give your fighters quite a long
• 22:27
  leash for speaking their minds. And Dana's like, what?
• 22:31
  Don't give them a leash. He's like, I'm not their owner.
• 22:34
  They're not dogs. I don't tell them what they can.
• 22:36
  I cannot say. They just speak what they want
• 22:38
  and they know they can do that. And it's so shocking that the
• 22:43
  journalist is like, oh wow, this guy owns the fighter and
• 22:47
  therefore he dictates what he says.
• 22:49
  This is the state of the acceptable media in the world.
• 22:52
  And we know that Bitcoin is a representation of our time, of
• 22:56
  our thoughts and of our efforts. When when your free speech is
• 22:59
  taken in to consideration and when your free speech is
• 23:03
  neglected, then effectively the entirety of your value shrinks
• 23:07
  and decreases. It's incredibly Fiat.
• 23:08
  And I think it's it's just incredible to see.
• 23:11
  I mean, without the Overton window moving and shifting, I
• 23:15
  hope that more sports organizations see the positive
• 23:19
  response because look at like the UFC is blowing up.
• 23:23
  They are getting more popular, growing faster than any other
• 23:26
  sport on the planet right now. The UFC 300 was obviously a
• 23:31
  wicked card, but it's I think it's going to start to shift.
• 23:35
  It feels like we are now being rewarded or there is rewards
• 23:39
  coming in. This in the sense of views,
• 23:41
  advertising dollars like the UFC is not losing any sponsors after
• 23:44
  that, right? And that's a good thing.
• 23:47
  We saw Bud Light have the opposite decision and the
• 23:50
  opposite reaction where they lost a ton of money for being
• 23:54
  too woke. Here we have the UFC getting
• 23:56
  pretty based and they're gaining money and so this feels like a
• 24:01
  positive thing in my mind, a. 100% I totally agree with that.
• 24:05
  It's definitely a step in the right direction.
• 24:07
  The Overton window is shifting, it really is.
• 24:09
  Anyways, bet for show for show Opti dude, just stop.
• 24:13
  Using it, you can't use it correctly.
• 24:15
  I'll have to give you some zoomer lingo.
• 24:17
  Lessons. We need classes.
• 24:19
  We need lessons with Opti. Yeah, literally.
• 24:22
  Literally. You guys are butchering the
• 24:23
  memes. OK.
• 24:25
  Anyways, to Adam's point though, you were wondering whether he's
• 24:28
  a Bitcoin or not. He did tweet out that he wants
• 24:31
  his bonus in Bitcoin. So whether like you were saying
• 24:35
  he's an overt bitcoiner or whether he's just stacking SAT
• 24:39
  silently, I think it all goes to the same thing.
• 24:42
  We always say all roads lead to Bitcoin, and if you start
• 24:45
  studying Austrian economics, you start to understand that it's
• 24:49
  all about the money and our money is broken.
• 24:52
  It's, you know, the the US dollar currency.
• 24:54
  All Fiat currencies in the world are absolutely destroyed and
• 24:58
  people are waking up to the fact that you can barely survive on a
• 25:02
  Fiat standard. You can barely survive if you're
• 25:03
  only saving Fiat currencies. Hence why Niko started the show
• 25:06
  with the sailor meme. If you save in dollars, we call
• 25:09
  them pours because you can't save in dollars.
• 25:11
  You you can't get ahead if you are saving in dollars.
• 25:14
  And I think that signal is spreading.
• 25:16
  And again, to your point though, I I venture to guess that
• 25:19
  millions of people watch this fight.
• 25:22
  Of course people were drinking. Obviously, they, you know, were
• 25:25
  cheering. They're having a good time.
• 25:26
  So they might have missed that little portion of the fight.
• 25:30
  But there are people out there that caught that.
• 25:32
  And whether they, you know, ran outside and bought Bitcoin,
• 25:37
  planting the seeds of independence, of freedom, of
• 25:40
  understanding that capitalism isn't the problem here, that
• 25:43
  property rights are important, that if you are a patriot that
• 25:47
  you do, if you do love your country, then you have to
• 25:50
  understand where the root of the problems come.
• 25:52
  And it's because the money is broken.
• 25:54
  It is because of the perpetual war machine.
• 25:56
  It's because they can print more money that we're seeing the the
• 26:00
  the West fall basically, for lack of better term, it is
• 26:03
  because they are destroying the money that we are in this
• 26:06
  position right now. And I also do believe that it
• 26:09
  does feel like the Overton window is shifting.
• 26:12
  I know you guys are getting your tomatoes ready, but I've been
• 26:14
  seeing this pendulum swing for a while for, you know, like Adam
• 26:18
  was saying, we had that whole Bud Light debacle where the
• 26:22
  companies have gone woke and, you know, and Bitcoin, we always
• 26:24
  say if you go woke, you go broke.
• 26:26
  Where we're seeing that the pendulum is swinging the other
• 26:28
  way, that now it's gone so far One way that people are tired of
• 26:34
  this. They're they're they're tired of
• 26:35
  the thought police. They're tired of the speech
• 26:37
  police and they're looking for alternatives.
• 26:40
  And say what you want about UFC, you know, people could very well
• 26:44
  make the point that it's bred in circuses and keep them
• 26:46
  distracted and literally gladiators out there fighting
• 26:49
  like it was in the Roman Empire. But it's kind of a meme that
• 26:53
  I've seen go around on Twitter that we are starting to enter
• 26:57
  the era of the warrior scholar. So like, maybe this guy is like
• 27:01
  me, an ADIQ person, but he hit the signal.
• 27:05
  Yeah, he's out there literally, like I was saying, you know,
• 27:08
  putting brain damage and concussing himself.
• 27:10
  And yet he comes out and he's like, look, Bros, study Austrian
• 27:13
  economics, study reality, because this is how we get out
• 27:16
  of this situation. It's all about the money.
• 27:19
  And I I fundamentally believe in the idea of the warrior scholar
• 27:22
  out there. It's not enough to just be
• 27:23
  smart. It's not enough to just be
• 27:25
  jacked. You have to be jacked and smart.
• 27:28
  And look, I know we're not all looking out at at UFC fighters
• 27:32
  as like the epitome of of intellect, but this guy is on
• 27:36
  signal. This guy's out there putting his
• 27:39
  body on the line. He's fit physically, and it
• 27:42
  seems like he's fit mentally because he understands the true
• 27:45
  nature of reality. He understands that Austrian
• 27:47
  economics is rooted in reality. And if you want to prosper, you
• 27:50
  have to understand how the world really works.
• 27:53
  And really, if you compare the UFC fighter who most people
• 27:58
  wouldn't listen twice to about anything he's saying, it's just
• 28:02
  like, shut up, bro, Go fight, you know, let me, let me see you
• 28:04
  kill yourself and I'll get my kicks that way.
• 28:07
  But if you compare that to what the, the credentialist academic
• 28:11
  class is saying on television about economics and money, it's
• 28:15
  a stark contrast where this guy's out here, he's a fighter
• 28:19
  and yet he understands economics better than say you know Ross
• 28:23
  Sorkin on the What's the the MSNBC?
• 28:26
  Or he understands economics better than the people that are
• 28:30
  supposedly supposed to understand economics better with
• 28:32
  their PhD economic degrees. And this guy's like look bro,
• 28:36
  study Austrian economics. Your life will get better.
• 28:39
  He's like pay me in Bitcoin. And I mean this also kind of
• 28:42
  goes into, I saw on Bitcoin mag that the Saints defensive
• 28:47
  captain. I think he's a middle
• 28:49
  linebacker. He's also going to do the oaken
• 28:53
  strategy of like I'm putting my NFL contract in Bitcoin because
• 28:57
  you can't save in dollars. And we're starting to see that
• 29:00
  more people are waking up to the true nature go of the world.
• 29:04
  Right now. It's your money is broken.
• 29:06
  You need to find an alternative, you need to save in something
• 29:08
  that cannot be debased. And hey, if that signal is being
• 29:12
  spread by UFC gladiators, then they're going to hit the right
• 29:16
  market. Like I say it all the time.
• 29:18
  The right market is that 25, you know, or rather 18 to 40 year
• 29:23
  old male out there, 'cause that's the only demographic that
• 29:27
  has ever actually changed anything in the course of
• 29:29
  history. It's the military fighting age
• 29:31
  male out there that actually changes the course of humanity.
• 29:35
  And who else but the UFC is that audience.
• 29:38
  So if only a small fraction of people heard this, got their
• 29:42
  first touch on Austrian economics and even Bitcoin, this
• 29:46
  is a good thing. You are seeing that the Overton
• 29:48
  window is shifting. You're seeing that the the
• 29:51
  thought police bubble is crashing and we're gonna be
• 29:54
  continue to see more and more and more of this.
• 29:57
  So man, legacy media is absolutely torch people are
• 30:00
  getting the signal from UFC fighters and independent content
• 30:04
  creators and man, just it. I just get so hyped especially
• 30:07
  after that fight. I don't know if you guys watched
• 30:09
  it but the one fight we watched was a battle.
• 30:11
  It was. It was epic, net.
• 30:14
  Just absolutely awesome to see. Have some bars.
• 30:17
  I don't have the bars thing. That's cool.
• 30:20
  Motherfucking boy. Bet for show for show Anyways
• 30:24
  guys, if you are enjoying the show right now there's about
• 30:26
  there's about 1000 of you guys watching live between YouTube
• 30:29
  Rumble and X. Make sure to smash the like
• 30:31
  button. Really, really helps push our
• 30:34
  content forward. We have about 89 likes.
• 30:36
  Help us break 100 likes within the 1st 35 minutes of the show.
• 30:40
  I think we could definitely do that.
• 30:42
  And yeah, guys, sit back, relax. We still got a lot to cover.
• 30:46
  Anyways, let's jump straight into the news.
• 30:47
  We have a lot to talk about today, like the Hong Kong stuff.
• 30:50
  Let's check it out. Here we go.
• 30:54
  The Daily News. I want to give a shout out to
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  you. Check out the passport link in
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  the show notes below to learn more.
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  Oh sorry, is the show back? I was playing Snake on my
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  on this. You could also take self custody
• 32:01
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  It's absolutely beautiful. Completely open source.
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  can pair it up with the envoy app.
• 32:12
  And you know, it's just it's so easy to take self custody.
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  You absolutely have no excuse. Remember guys, not your keys,
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  not your cheese. Empower yourself.
• 32:20
  Become a sovereign individual. And you do that by taking self
• 32:22
  custody. All right, ladies and gentlemen,
• 32:24
  I want to talk about this, OK? Because everyone is saying Hong
• 32:28
  Kong launched the ETF, blah blah blah, blah, blah, blah, blah,
• 32:32
  OK, Hong Kong is part of China. And if you guys watch the Hong
• 32:39
  Kong protest, they just completely crack down on free
• 32:42
  speech. You know, it's supposed to be 1
• 32:45
  country, two systems, but no, anything that happens in Hong
• 32:49
  Kong needs to get approval from Beijing.
• 32:52
  Yes, that's right, it needs to get approval from the CCP.
• 32:56
  Now what's really interesting about the CCP is that they
• 32:58
  banned Bitcoin mining within their borders.
• 33:00
  And of course that caused the hash rate to drop like 50%.
• 33:04
  That coincidentally was happening during bitcoins, you
• 33:07
  know last cycle cycle boom. And I I believe that's one of
• 33:11
  the reasons actually that we didn't hit 100K because of the
• 33:14
  hash rate drop and all those miners had to sell Bitcoin to
• 33:16
  relocate some more favorable jurisdictions.
• 33:18
  It's just funny how Bitcoin's incentives work and even a
• 33:24
  totalitarian country that's trying to roll out a central
• 33:26
  bank digital currency for their population is trying to benefit
• 33:31
  from number go up. And if the United States has an
• 33:35
  ETF rolled out and China is a competitor of the United States,
• 33:39
  what they're using is they're using Hong Kong as a proxy to
• 33:43
  launch an ETF there without launching the ETF in the
• 33:47
  mainland, right? Here's a Bloomberg article.
• 33:49
  We've referenced it many times. It came out in February,
• 33:52
  February 21 of 2023. It said Hong Kong's crypto hub
• 33:56
  ambitions when quiet backing from Beijing.
• 34:00
  He goes on to say representatives from China's
• 34:03
  liaison office and other officials have been frequent
• 34:06
  guests at the city's crypto gatherings over the past months.
• 34:10
  Swapping business cards, WeChat details, said people familiar
• 34:13
  with the matter, who asked not to be named discussing private
• 34:16
  information. The encounters have been
• 34:18
  friendly, with officials checking in on developments,
• 34:21
  asking for reports and in some cases making up follow up calls.
• 34:24
  The people said. OK, so all that being said, Fast
• 34:28
  forward about a year or so later April 15th 2024.
• 34:32
  So today Hong Kong gives initial Bitcoin, Ether ETF nod again say
• 34:38
  Hong Kong. But if you take a look at the
• 34:41
  company Right Harvest, they're based out of where Beijing,
• 34:50
  China, they also have $230 billion assets under management.
• 34:54
  It's a lot of money that could potentially be flowing into
• 34:58
  Bitcoin once again. So let's let's take a look at
• 35:01
  some of the details in regards to the ETF approval, they say
• 35:04
  Hong Kong, but I'm really looking at this and I'm like OK,
• 35:06
  this is a Chinese ETF, right. They're using Hong Kong as like
• 35:10
  kind of like this like isolated you know isolated area so that
• 35:15
  the mainland people in mainland don't really benefit from NGU
• 35:18
  but they could. The government of China doesn't
• 35:20
  get left behind by the US and other countries that are
• 35:24
  benefiting. For me from NGU anyways goes on
• 35:26
  to say Hong Kong gave conditional approvals for asset
• 35:29
  managers to start spot Bitcoin and ether exchange traded funds,
• 35:34
  the firm said, a development that boosted both tokens and the
• 35:37
  wider crypto market. Harvest Global Investments Ltd
• 35:41
  and a partnership between Hash Key Capital and Borzia Asset
• 35:44
  Management Management announced initial approvers approvals in
• 35:48
  separate statements on Monday. The Hong Kong unit of China
• 35:51
  Asset Management said it had received approval from the
• 35:54
  city's Security and Exchange Commission for the proposal of
• 35:57
  Virtual Asset Management Services and is deploying
• 36:00
  resources to develop products. Hong Kong is vying with the
• 36:03
  likes of Singapore and Dubai to become a digital asset hub after
• 36:07
  rolling out a dedicated regulatory regime last year.
• 36:10
  Officials are trying to restores the city's reputation as a
• 36:14
  modern financial hub following a crackdown on dissent that dulled
• 36:17
  its allure. Anyways, so a couple things.
• 36:21
  Do you think that it's a neat that it's a coincidence that a
• 36:25
  Chinese ETF is approved two to three months after the ETF
• 36:31
  approval in the United States? That is not a coincidence
• 36:34
  whatsoever. Here's Samson Mao.
• 36:38
  I think he had a great take on this.
• 36:40
  The Hong Kong Bitcoin ETFs will feature in kind creation and
• 36:45
  redemption. This is a move to one up the
• 36:47
  USETFS. The race is on to accumulate BTC
• 36:52
  in Asia. So yeah, I mean if Bitcoin's
• 36:55
  incentives stay winning, like no one can resist this thing.
• 36:58
  And I I just can't help but to think of this article that Alex
• 37:03
  Gladstein wrote called Bitcoin is the Trojan horse for freedom.
• 37:08
  And in that article, he made the case how NGU and FGU number go
• 37:14
  up. Technology and freedom go up.
• 37:16
  Technology are inextricably linked.
• 37:19
  You cannot disconnect them, right?
• 37:21
  So once you let that Trojan horse in, it's really kind of
• 37:25
  like this, like one way St. However, all that being said, at
• 37:29
  the end of the day, the ETFs, it's paper Bitcoin.
• 37:33
  You just captured Bitcoin. Stop calling it paper Bitcoin.
• 37:36
  It's captured Bitcoin. Really you should be buying spot
• 37:39
  Bitcoin, but I think it's a step in the right direction because
• 37:43
  it moves the Overton window. It further legitimizes Bitcoin
• 37:47
  in the eyes of of institutional investors, the the the, the, the
• 37:53
  markets all around the world. And again, I think when people
• 37:56
  come to the realization that okay spot Bitcoin, I don't need
• 38:01
  to pay a fee, there's no custody risk.
• 38:04
  I don't have to ask anybody for permission, right?
• 38:07
  Or ETF Bitcoin where I have to pay a fee and there is a custody
• 38:15
  risk. I think eventually as time
• 38:17
  progresses and I think it's inevitable that one government
• 38:21
  is going to 6102 this like I think it's inevitable and I
• 38:24
  think when that happens like you're just going to see this
• 38:27
  giant migration of people into self custody.
• 38:30
  I think it's inevitable. But anyways that's my take on
• 38:32
  this is a really promising development for number go up but
• 38:36
  from a revolutionary aspect. I just want to remind everyone,
• 38:39
  you know I think we're going to rip over the next 12 to 18
• 38:42
  months. I think it's really important to
• 38:44
  remember that if it's not your keys, it's not your Bitcoin,
• 38:48
  right? It's really important to
• 38:49
  remember that. And it's really important to
• 38:51
  spread that message as well. What I've noticed, and of course
• 38:54
  not all boomers are like this, but what I've noticed is that if
• 38:58
  you're older, you put a lot of faith into you, put a lot of
• 39:02
  faith into outsourcing the custody of your wealth.
• 39:06
  And I think this is an educational thing.
• 39:08
  This is this. There's a lot of work that we
• 39:10
  have to do on our part to really wake people up to the reality of
• 39:14
  the benefits of self custody and all of that.
• 39:17
  Anyways, I saw Lightning Goats in the chat and I do want to
• 39:20
  give him a shout out because he did Open source.
• 39:24
  Opti's Taco feeder. That's right, you can go to the
• 39:27
  GitHub right now and you could download Opti's Taiko Taco
• 39:30
  feeder. I tried to pitch Opti on the
• 39:32
  idea and he literally spit in my face, so I don't think it's
• 39:35
  going to happen, but. No, no, no, no.
• 39:38
  Niko wants me like in a room with like, I I forget what he
• 39:42
  was saying. He would like mariachi hat and
• 39:44
  music, like eating tacos. I'm like, no, no, no.
• 39:48
  That's not, it's not look and by the way, like just so you know,
• 39:51
  like, you know, if it gets views, I will do the same thing
• 39:54
  but with that APAS and Venezuela music.
• 39:55
  OK, so this isn't just an OPTI thing, but no.
• 39:58
  But I think it'd be hilarious. Like if there's like a little QR
• 40:01
  code and like, opti's like, you know what I.
• 40:04
  Don't how how long it works no no.
• 40:07
  No, no, it's not gonna. It's not gonna be like that.
• 40:09
  We're gonna we're gonna take it up a notch, OK?
• 40:11
  So you're gonna sit in the middle of a chair, in the middle
• 40:14
  of a room, OK? And you know, you dress in
• 40:17
  whatever you want. And when people hit the certain
• 40:21
  amount of Bitcoin on, you know, on the QR code, confetti's going
• 40:27
  to go out. My mariachi band's going to come
• 40:29
  out. And then, like, because Opti, I
• 40:31
  know you like this. An attractive girl with a plate
• 40:34
  is going to come out with a Taco.
• 40:35
  OK. I'm in.
• 40:36
  And they're going to take it to you and then boom, right.
• 40:40
  But you might have to sit on that live stream for a while.
• 40:43
  But I think it would be absolutely hilarious if we did
• 40:45
  that, OK? So, all right, all right, we'll
• 40:48
  we'll game plan this. I'm just saying, I think it'd
• 40:51
  be, we have to make it happen. I'm just saying this, this would
• 40:54
  be great content. Anyways, Adam, what's your take
• 40:56
  on this? You know as the CEO of a
• 40:59
  publicly traded company coming out of Canada, what's your take
• 41:02
  on the Chinese ETFs? I'm saying it.
• 41:05
  I'm saying it because that's really what it is.
• 41:07
  Yo, I actually had my take on the Taco machine crept up.
• 41:12
  So I guess I'll just skip that one and then and we'll move
• 41:14
  straight into Chinese ETFs. Listen, this goes one of two
• 41:19
  ways and it's and it's the same one of two ways that that the,
• 41:22
  that that the American ETF goes into.
• 41:25
  It's like this is either a gateway into self custody or it
• 41:31
  is a prevention towards self custody.
• 41:34
  And honestly, the like pessimist in me feels like it's the
• 41:38
  latter. I don't feel.
• 41:40
  I feel like people tell me they bought Bitcoin and what they
• 41:44
  meant was they bought an ETF. And that pains my soul because
• 41:48
  that ETF has tax consequences, it has inheritance consequences,
• 41:53
  it has movability consequences. Nobody was able to sell their
• 41:57
  ETF during the flash crash on Saturday.
• 42:00
  Like. There are just so many
• 42:02
  consequences has fee consequences, centralization
• 42:05
  consequences. And we are living in such a
• 42:08
  fragile geopolitical state across the world that people
• 42:13
  think when they own, you know, I like what you said, captured
• 42:16
  Bitcoin, people think they own Bitcoin and really they just
• 42:20
  have price exposure, they have no freedom exposure.
• 42:23
  And we all know that self custody is the only way to get
• 42:27
  freedom exposure here in Canada. Like I think we're going to talk
• 42:30
  about in a little bit. We're literally have banks
• 42:33
  either preventing or harassing people who want to withdraw
• 42:37
  money out of their bank account. I personally am debanked from
• 42:42
  all six major banks in Canada. I have a tiny credit union to my
• 42:47
  name only because I run a publicly traded company and we
• 42:50
  like negotiated that into the the Conor with the bank is that
• 42:54
  like the CEO gets a checking account right?
• 42:56
  Like it is so bad up here. We are so centralized, so
• 43:01
  captured with our money. And by the way, two of those six
• 43:04
  banks have AJV that made the like most popular payment rail
• 43:08
  here in Canada called interact E transfer.
• 43:10
  Like it is very, very bad when we look at the way that the
• 43:14
  money can be captured and then prevented.
• 43:16
  I saw a tweet somewhere say this is actually how rich guys are
• 43:20
  going to get their money out of China.
• 43:21
  No, it's not because the money is going to be locked in China.
• 43:25
  If they were buying real Bitcoin, yes, 100%.
• 43:29
  It will be a way for them to get their money, take their money,
• 43:32
  put it on, you know, in a passport, put it into a metal
• 43:35
  plate seed phrase and then take off.
• 43:37
  That would be absolutely a possibility.
• 43:40
  If it's locked in some Hong Kong ETF, it's going to be exposed to
• 43:45
  the same rules. The money that's locked in the
• 43:47
  Hong Kong bank account is. It is not a good way for people
• 43:52
  to buy Bitcoin. Yes, the institutional exposure
• 43:55
  is fine. I know there's like a lot of
• 43:58
  debate about that. Frankly, my belief is that I
• 44:02
  want NGDI, don't want number to go up in my lifetime.
• 44:06
  This is a no. There's no questions asked,
• 44:09
  numbers going up just because supply and demand economics is
• 44:12
  math. But like the same, like right
• 44:15
  now we are in this incredible spring, summer season.
• 44:19
  The birds are chirping, the flowers are beautiful.
• 44:22
  When Bitcoin is going to get, like, really, really expensive
• 44:25
  and it's going to be difficult to stack and it's all captured
• 44:28
  in there, that's like the winter.
• 44:29
  That's like you're not able to stack as much.
• 44:32
  You're not able to do as much with the money because you're
• 44:35
  not able to save into the future as well.
• 44:38
  And so I don't know that we want Wall Street buying hundreds of
• 44:41
  thousands of Bitcoin, and I don't know if we want Hong Kong
• 44:44
  buying hundreds of thousands of Bitcoin.
• 44:47
  All it does is make Bitcoin more expensive.
• 44:49
  It makes your time worth less Sats.
• 44:52
  And that is the nature of deflationary assets, and I get
• 44:55
  that. But it feels like it's getting
• 44:57
  manipulated and it feels like it's not a true economic state,
• 45:01
  a true free market economic state that's making it possible.
• 45:04
  So maybe I'm a little bit like jaded.
• 45:07
  I don't like that that, you know, everyone is is cheering on
• 45:12
  the fact that people are getting exposed to Bitcoin through like
• 45:18
  paper and captured Bitcoin. It just I hope that we have
• 45:22
  enough educators out there and it's you.
• 45:24
  It's the audience, the educators out there that you know, tell
• 45:27
  them, hey, that's great, now sell your ETF like you like
• 45:30
  Bitcoin. Cool, Sell your ETF.
• 45:32
  Get a hardware wallet. Let's buy some real Bitcoin at
• 45:35
  bitcoinworld.com and actually get it into self custody into
• 45:38
  Freedom Money. Amen to that.
• 45:40
  Bet for show for show Opti. For real.
• 45:43
  For real. Oh man, my, my, my millennial
• 45:50
  boomerness couldn't help but to change it already.
• 45:52
  All right, Opti, What's your take on this, Adam?
• 45:55
  Dropping the hot fire like always.
• 45:58
  Yeah. So I'll first start with the the
• 46:00
  China. China takes and stuff like, look
• 46:02
  guys, I'm not going to pretend to admit to you that I know
• 46:06
  what's going on in China. I can only really see what's
• 46:09
  happening on the surface. What's what?
• 46:11
  What we're seeing from reports but it is very interesting that
• 46:14
  we're seemingly seeing Hong Kong be used as a proxy for Bitcoin
• 46:18
  in China and shouts out to Lars in the comment he he commented
• 46:22
  chat. In the chat he said China banned
• 46:24
  your bitcoins that they're buying.
• 46:26
  And I I just think that's hilarious especially considering
• 46:30
  all the stuff we're seeing coming out of the US you know
• 46:32
  we're seeing the politicians and the central bankers and and the
• 46:36
  even some institutions basically say that like oh we need to ban
• 46:39
  Bitcoin. We need to stop Bitcoin
• 46:40
  proliferating in the states. We've seen Choke .2 point O we
• 46:44
  we've seen all of the stuff you know self hosted or unhosted
• 46:47
  wallets and all that. So I just find it interesting
• 46:51
  that we're seeing China basically backtrack on their
• 46:54
  Bitcoin mining ban. And and I just find it hilarious
• 46:57
  that we're still seeing people in the US or even though in the
• 46:59
  UK that they think they can stop Bitcoin.
• 47:02
  And it's what we say all the time here on the show.
• 47:05
  You can't ban Bitcoin, you can only ban yourself from Bitcoin.
• 47:08
  And any government or institution that actively comes
• 47:11
  out against Bitcoin, one just exposes themselves as the
• 47:16
  tyrannical control freaks that they are.
• 47:18
  And two, expose themselves to the fact that they really don't
• 47:21
  understand what the game is, or rather they're trying to
• 47:23
  gaslight the people out there into believing that Bitcoin can
• 47:26
  actually be stopped. Hence why we come out here every
• 47:29
  single day. Hence why you guys do your best
• 47:31
  to try to Orange Pill and Freedom Pill your friends and
• 47:34
  family. Because for better or worse
• 47:36
  guys, the only way to really gain freedom is to take Bitcoin
• 47:40
  into custody. This is the facts of the matter.
• 47:43
  And so just commenting on the China news, it's it's just
• 47:47
  beautiful to see that the game theory is playing out in real
• 47:49
  time and this is only going to increase.
• 47:52
  I'm sure like Adam was saying and Nico was saying, we will see
• 47:55
  the price respond to this and we will see the game theory play
• 48:00
  out in real time. And that this will happen not
• 48:02
  only on the individual level, but it's going to start
• 48:04
  happening on a nation state level.
• 48:06
  It's happening on an institutional level.
• 48:08
  And I guess this is the PSA moment where I said guys don't
• 48:11
  sell them your Bitcoin. Make sure you are huddling your
• 48:13
  Bitcoin in self custody. Make sure they're backed up, but
• 48:16
  make sure you're you're you're, you know, safe going into this
• 48:20
  transition. But there was a point, Nico,
• 48:23
  where I was reminded of a few conversations we had on the show
• 48:26
  and the one that you always reference about the one with
• 48:28
  your friend that's basically, you know, honey badger, don't
• 48:31
  give AF. And if you live in a
• 48:33
  totalitarian country and you're concerned about the the state of
• 48:38
  your country, then you want to hold Bitcoin.
• 48:40
  And I think we're seeing this play out in real time and kind
• 48:42
  of connecting this to the beginning.
• 48:44
  We're seeing that the you know the pendulum is swinging and
• 48:46
  people are realizing Oh my God, if all my money is in the legacy
• 48:51
  traditional financial system I need to find a way to get it out
• 48:55
  of that system. And of course as we say here on
• 48:57
  the show all the time, Bitcoin is that escape hatch And then on
• 49:01
  people buying the ETF, I I say this all the time and and people
• 49:04
  still kind of yell at us because we are self custody Maxis and we
• 49:09
  try to push you guys towards what we think is the best way to
• 49:12
  take your Bitcoin into custody. Obviously it's taking it off
• 49:16
  exchanges. It is holding the keys for
• 49:18
  yourself, it's controlling your own money.
• 49:19
  As I said, there's only one way to truly be free and transact
• 49:23
  freely in today's world and that is if you are actually using the
• 49:26
  Bitcoin network as designed, taking Bitcoin into custody.
• 49:29
  With all that being said, I totally understand why some
• 49:32
  people would want to hold a spot Bitcoin ETF.
• 49:35
  Whether you're a high net worth individual and you just don't
• 49:38
  want to take your assets into custody, totally get it.
• 49:41
  I mean, I'm not here to tell you what to do with your money.
• 49:43
  Everyone makes those decisions on yourselves or whether you
• 49:46
  have a lot of money in the legacy traditional financial
• 49:49
  system and you can't get it out without penalties or other
• 49:51
  risks. Like I totally understand why
• 49:54
  people would want to own the spot Bitcoin ETF.
• 49:57
  Again, we consider it paper Bitcoin, we consider it captured
• 50:00
  Bitcoin, we consider it IO used to your Bitcoin.
• 50:03
  But like Adam was saying, hopefully as this starts to
• 50:07
  progress, people understand that, yeah, price exposure to
• 50:11
  Bitcoin is great, but if you really want to have freedom,
• 50:15
  money, you need to take that Bitcoin into custody, You need
• 50:18
  to own the keys yourself, you need to transact on the Bitcoin
• 50:20
  network. But again, I totally understand
• 50:24
  that this doesn't just happen overnight.
• 50:25
  Of course we beat the drum always, every single day,
• 50:28
  multiple times a day that you want to hold the keys to your
• 50:31
  own Bitcoin. But I totally understand that
• 50:33
  there's a learning curve and hopefully, as we were saying
• 50:36
  hopefully when people get into the spot Bitcoin ETF, they start
• 50:40
  to go down the self custody route and they understand what
• 50:42
  freedom money is. And we don't get into the
• 50:45
  paranoid tinfoil hat area where we end up with the idea that hey
• 50:50
  man, once they get into an ETF, they're going to get captured
• 50:53
  Bitcoin. It's never going to get out from
• 50:55
  there. And they 6102 their Bitcoin.
• 50:57
  Remember, Coinbase is custody 90 plus percent of all the ETFs.
• 51:02
  So when we talk about this, it's just about highlighting the
• 51:06
  concerns. Obviously at times maybe we are
• 51:09
  being a little pedantic here and and we're being hyperbolic here,
• 51:14
  but this is a real concern here, that if you aren't holding your
• 51:18
  own Bitcoin, it is not your Bitcoin.
• 51:21
  Bitcoin custody is 9 out of the Bitcoin custody is 10 tenths of
• 51:25
  the law. Holding your own property is
• 51:28
  paramount. It's the most important thing to
• 51:29
  be doing right now in a world where they want to stop you from
• 51:32
  transacting on the network if they don't like what you're
• 51:35
  doing. Bro, I mean, you definitely
• 51:38
  didn't use zoomer words, bro. Like that was that was some
• 51:40
  sophisticated language I. Gotta use some adult words.
• 51:43
  Sometimes 85 IQ language opti you good to talk.
• 51:47
  Yeah. Bro, I'm working on my rhetoric.
• 51:49
  I'm working on my rhetoric. Holy.
• 51:50
  Cow It makes you opti smarter. Man, this is.
• 51:52
  This is. True, this is true.
• 51:54
  Mars OK anyways at Brett alone if you want some, if you want
• 51:59
  some Bitcoin, well merge go follow him.
• 52:01
  Adam O'Brien on Twitter first I pulled it up on screen for audio
• 52:05
  listeners at Adam O'Brien. Under score go to Bitcoin well
• 52:09
  and after you sign up to Bitcoin well tag Adam on Twitter and and
• 52:13
  maybe maybe you have an opportunity so when it's a
• 52:16
  Bitcoin well merge. Anyways I do want to give a very
• 52:19
  very special shout out to our sponsor and of course I'm
• 52:22
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• 52:26
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• 52:29
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• 52:31
  So it's probably a good idea to stack friends who stacks ATS big
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  or the orange pull up is the Bitcoin social layer.
• 52:39
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• 52:42
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• 52:44
  check the link in the video description as this clever
• 52:47
  filtration system that allows you to Only Connect with fellow
• 52:51
  bitcoiners right? Or like minded individuals.
• 52:54
  You won't find any alt coiners on there, you won't find any
• 52:56
  people that are sending you messages.
• 52:57
  Like if you send me one Bitcoin, I'll send you two.
• 53:00
  It's really cool and it also lets you know bitcoiners that
• 53:04
  are close to you. So if you're traveling, if
• 53:06
  you're moved to a new city and you don't know any bitcoiners
• 53:09
  that are near you, the orange palap will literally tell you
• 53:12
  the bitcoiners that are around you, right?
• 53:14
  They also just announced their dark version, their dark mode,
• 53:19
  which is absolutely pretty badass.
• 53:20
  I'm a dark mode maxi. I use it for everything.
• 53:23
  I think if you still use the white mode, I'm like I question
• 53:26
  like like what? What?
• 53:27
  Your eyes. They don't hurt.
• 53:29
  So it's really cool. I highly recommend checking out
• 53:31
  the orange pull up. I'm an advisor, love the guys,
• 53:34
  love the app me and Opti are quite active on there.
• 53:36
  You'll see us in the Simply Bitcoin orange pull up group
• 53:39
  chat. Or you can send me a message
• 53:41
  directly, and I do take the time to answer each and every single
• 53:44
  one of you, even though the tends to just keep piling up so
• 53:47
  it's taking a little bit longer than usual.
• 53:49
  Anyways, this guys download the Orange Pull app today.
• 53:52
  All right, everybody, let's get to the culture.
• 53:56
  The Daily Culture. I want to give a shout out to
• 54:05
  Kaboom Racks, the most trusted place to buy, sell and host
• 54:09
  mining equipment. You could check out the racks.
• 54:11
  You could do so by scanning the QR code on your screen.
• 54:14
  It'll take you directly to their Telegram marketplace where you
• 54:16
  can connect with a member of their sales team.
• 54:18
  They purchasing their products easy and transparent.
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• 54:29
  this is where I personally buy my Bitcoin mining ASICS.
• 54:32
  Scan the QR code or check the link in the video description,
• 54:36
  Opti. It's all yours my friend.
• 54:38
  Yeah, sweet. So we'll we'll kind of do a
• 54:40
  Bitlock Boom recap on the back end.
• 54:42
  We'll talk about Bitcoin wow. And then the great conversations
• 54:45
  that Adam and I had over the weekend and all the feedback you
• 54:48
  guys have been giving us. So we're wow, we'll we'll talk
• 54:51
  about all that on the back end. But Adam brought this video to
• 54:54
  us to to our attention and and there's a great comment in here.
• 54:58
  So we're going to start here and this is where we will catapult
• 55:01
  from. So Adam, you were on Reddit or
• 55:04
  someone sent you this and I'll just read the the quote here and
• 55:07
  it goes. Apparently you can't even
• 55:08
  withdraw your own money from a bank in Canada without being
• 55:11
  thoroughly interrogated. How is it any of their business
• 55:15
  what you do with your money? And then just on that note, you
• 55:18
  saw this comment, so we'll comment on that as well.
• 55:21
  Ethel Stan goes RBC has a $1000 daily limit.
• 55:25
  Withdrawals from ATM, Bull, Bitcoin.
• 55:27
  No. KYC purchases at Canada Post
• 55:29
  Office is 999.99 Max daily ended today.
• 55:34
  Canada is. Fooked.
• 55:36
  So Adam, as a Canadian, what do you what, what do you want to
• 55:41
  touch on this? What?
• 55:41
  What signal do you want to spread to the people out there?
• 55:44
  Yeah man, I mean this isn't news.
• 55:45
  This is like this is the banks being the banks.
• 55:48
  It's so frustrating that we think our money is safe.
• 55:52
  We are told put your money in the bank and it will be safe.
• 55:54
  What we are not told is put your money in the bank and it will be
• 55:58
  safe as long as you do what they want you to do with your money
• 56:02
  and as long as you tell them what you are doing with your
• 56:05
  money on the note though I'm happy you brought that up.
• 56:09
  Bitcoin well is launching or has launched Lite accounts and cash
• 56:13
  vouchers today and so a Lite account.
• 56:16
  If you go to our Twitter at the Bitcoin Well you can see the
• 56:18
  whole thread. There's a blog post just
• 56:20
  announced bitcoinwell.com/blog if you want to read that a a a
• 56:24
  Lite account is an account with a with an e-mail address, a
• 56:28
  username and a password. A fully verified account is a a
• 56:33
  Bitcoin will account with an e-mail address, a phone number
• 56:36
  and a full identity verification.
• 56:37
  And so both light accounts and fully verified accounts can go
• 56:41
  into their account, get a cash voucher, QR code, go to any of
• 56:45
  our Bitcoin ATMs and then scan the cash voucher QR code.
• 56:49
  Put money into the ATM and they will have a cash voucher in
• 56:53
  their Bitcoin will account. They'll be able to then redeem
• 56:54
  that account for Bitcoin at any time they like.
• 56:58
  And so some advantages there. I think that this is the benefit
• 57:03
  to having an ecosystem that we've kind of had we're we're
• 57:06
  we're actually able to offer this.
• 57:08
  We're not exposed to the third parties I mentioned earlier like
• 57:10
  there is one payment processor that's owned by 1/3 of the banks
• 57:15
  in Canada that is used by every bank in the country.
• 57:18
  And they're starting to give people a hard time.
• 57:20
  They're starting to stop people from sending Bitcoin.
• 57:22
  The number one support question that we get in Canada is, hey,
• 57:28
  my E transfer didn't go through and our response is, can you
• 57:30
  call your bank and see what happened?
• 57:31
  Sure enough, you know, two or three hours later after they get
• 57:34
  off hold with their bank and they talk to their banker, it's
• 57:37
  Oh yeah, the bank blocked the transaction.
• 57:39
  They're going to put it through now and that's happening over
• 57:41
  and over and over again. As you guys know, we put
• 57:44
  recurring buy into a bill payment section in Canada and so
• 57:48
  you're able to just send an automatic bill payment from your
• 57:50
  bank. Well, again, 1/3 of the banks in
• 57:53
  Canada are starting to ask questions and disallow those
• 57:56
  options from from your Canadian bank account into Bitcoin.
• 58:01
  Well to buy Bitcoin and self custody and so cash vouchers
• 58:04
  there's no there's I mean we we are a neck to to squeeze.
• 58:08
  I suppose they're going to lean on us if they want to.
• 58:10
  But at the end of the day they're our ATMs. We can do with
• 58:13
  them what they want. We have the software that runs
• 58:16
  the ATMs and so cash vouchers on the Bitcoin ATM meet the Bitcoin
• 58:20
  portal and you're able to match the 2.
• 58:22
  And So what the benefit there is is it's a 3% funding fee for a
• 58:26
  cash voucher and then a 2% spread for a light account,
• 58:30
  which I think is is very good. You know you're able to preserve
• 58:33
  a little bit of privacy which is which is very, very positive and
• 58:36
  ultimately I think you aren't exposed to the banks shutting
• 58:39
  that down. So bitcoinoil.com or go to at
• 58:41
  the Bitcoin law on Twitter, See the thread link to the blog
• 58:44
  post. And in your app you can You can
• 58:46
  now buy Bitcoin with a light account, which is which is very
• 58:50
  very exciting. And and Adam, just to be clear,
• 58:53
  that's not just for Canada, that's also for the States.
• 58:56
  No, it's just in Canada. We only have ATM network in
• 58:58
  Canada. This is, this is the biggest
• 59:00
  like the reason we're able to do this is because of the
• 59:03
  infrastructure that we own in Canada.
• 59:05
  And so the US, we're going to work hard and we're going to
• 59:08
  find every way possible This is, this is, this is the mission,
• 59:11
  right? This is how you enable
• 59:12
  independence. We're like sitting here building
• 59:14
  these products that are taking payment and sending Bitcoin to
• 59:17
  self custody. It's like awesome.
• 59:19
  This is maximum independence and then half of that transaction is
• 59:22
  out of our control. The banking transaction is out
• 59:24
  of our control. And so our mission, we're
• 59:26
  sitting here thinking how do we enable more independence and
• 59:30
  we're looking around at our infrastructure and boom, we have
• 59:32
  a network of a couple 100 Bitcoin ATMs in Canada.
• 59:36
  We're able to use that cash infrastructure.
• 59:39
  And so it's exciting because the next phase to this is having
• 59:42
  recyclers having the ability to to receive but also dispense
• 59:46
  cash. And so there is a world where
• 59:48
  your light account could be able to put money in to buy Bitcoin,
• 59:52
  then also take cash out to sell Bitcoin all through a light
• 59:56
  account or a fully verified account.
• 59:58
  So I think this infrastructure play in Canada is really good.
• 1:00:01
  We're going to learn a lot here and then once it's ready, just
• 1:00:03
  like we did with our roll out in the US, we're going to, we're
• 1:00:07
  going to get it dialed in here in Canada and then as the
• 1:00:10
  opportunities present themselves.
• 1:00:11
  We want to be able to bring full independence into the USA and
• 1:00:15
  full independence means your bank won't block transactions.
• 1:00:19
  And I think that's the number one kind of focus for us over
• 1:00:23
  the next kind of year is how do we make sure that our customers
• 1:00:27
  have a maximum independence. Beautiful, beautiful.
• 1:00:30
  So, Adam, a a quick question, 'cause you know, this is, this
• 1:00:34
  is like the, I think the the question a lot of people in the
• 1:00:37
  audience have and I've heard this before, right?
• 1:00:40
  There's so many different choices for on ramps, like
• 1:00:43
  specifically Bitcoin on ramps and then there's the Bitcoin and
• 1:00:46
  crypto on ramps, right? Why should people use Bitcoin?
• 1:00:50
  Well, right. So my perspective is it's the
• 1:00:53
  self custody is the revolution, right?
• 1:00:55
  The if you really wanna change the system, it's self custody
• 1:00:59
  and the Bitcoin well platform is self custody by default.
• 1:01:03
  Can you talk a little bit about that?
• 1:01:05
  Yeah man. I think the difference between
• 1:01:07
  Bitcoin well and most crypto and or Bitcoin on RAMPS is that you
• 1:01:13
  don't have everyone has the ability to self custody but
• 1:01:17
  you're not forced to self custody.
• 1:01:19
  And so kind of like what I was saying earlier, like when you
• 1:01:21
  onboard your dad someone who's you know a little bit older to a
• 1:01:27
  platform that allows self custody or who's sorry who who,
• 1:01:30
  who allows to custody their coins in that platform, the
• 1:01:33
  broker and the custodian are the same.
• 1:01:36
  Your dad is not going to put the work into self custody because
• 1:01:39
  he's going to do the same thing he does with the with the ETF.
• 1:01:41
  He's going to buy Bitcoin, leave it on the platform and think,
• 1:01:44
  hurrah, I've got my Bitcoin right.
• 1:01:47
  And we've seen now that platforms that are holding
• 1:01:50
  Bitcoin for customers don't do a good job.
• 1:01:54
  And moreover like again the 61 O2 is if it were to happen, I
• 1:02:00
  like to say when it happens, people accuse me of being a a
• 1:02:02
  fear monger. So I'll say if if the government
• 1:02:05
  decides that economic spending is at an all time low and they
• 1:02:07
  have to seize assets in order to increase economic spending, you
• 1:02:12
  know, they effectively force people to sell their sound money
• 1:02:15
  to increase spending. If that happens and we're kind
• 1:02:18
  of hearing that language right now, they're going to take it
• 1:02:21
  from the custodians first. The custodians are the lowest
• 1:02:23
  hanging fruit to capture Bitcoin from people.
• 1:02:27
  And so if you combine those two things, you have a platform that
• 1:02:30
  allows for people to leave Bitcoin in there because it's
• 1:02:33
  easier And I get it man, it's hard running a self custody
• 1:02:36
  business. It's hard running a platform
• 1:02:38
  that only allows for self custody.
• 1:02:40
  This is the low time preference, mission focused way though.
• 1:02:43
  And so that's kind of my first point is like, don't on board
• 1:02:46
  your parents into something that has the potential to like if you
• 1:02:50
  had two options, one has the potential to be exposed to a
• 1:02:53
  6102 and one doesn't, it's pretty obvious which one is
• 1:02:56
  better, right? It's pretty obvious which one
• 1:02:58
  you want your dad or your grandpa or even your son and
• 1:03:02
  your daughter and your nephew and your niece to be using.
• 1:03:05
  You want the one not exposed to a 6102, but then second to that
• 1:03:09
  we need support this, it is harder.
• 1:03:11
  It is more expensive. I saw someone in the chat,
• 1:03:13
  you're charging higher for a a fee or a higher fee for for the
• 1:03:18
  cash vouchers. Yeah we have to because it's
• 1:03:20
  incredibly expensive to to operate a business like this.
• 1:03:23
  And and at the end of the day it's a value for value world.
• 1:03:27
  We need to do things profitably in order to maintain the
• 1:03:31
  business, in order to be able to develop products like this, in
• 1:03:34
  order to actually fulfill our mission of enabling
• 1:03:37
  independence. But rest assured we are here to
• 1:03:39
  enable independence. That is our mission.
• 1:03:42
  Every single decision in Bitcoin well is governed by enabling
• 1:03:46
  independence and I don't take that lightly And and like I saw
• 1:03:49
  someone in the chat talking about I'm a dad and I self
• 1:03:52
  custody. Good.
• 1:03:53
  Your dad needs to self custody. Your grandpa needs to self
• 1:03:56
  custody and then you need to teach your kids how to self
• 1:03:59
  custody because guys we are like halfway through like I'm a I'm a
• 1:04:03
  fairly young dad. I've got kids that are kind of
• 1:04:06
  like you know 7 and and younger and and my kids are like my
• 1:04:11
  oldest son is is halfway to like 15 and when he's 15 like what
• 1:04:17
  I've taught him is it that's it. I have no more teaching
• 1:04:19
  opportunity. I of course I have.
• 1:04:22
  I have the ability to be his friend and to teach him when
• 1:04:24
  he's older than 15. But the forced authority that I
• 1:04:27
  currently have is is gone at 15 and we need to hold such a high
• 1:04:33
  standard to our actions that the future generation does not get
• 1:04:36
  caught in the high time preference garbage that our
• 1:04:39
  generation and the generation before us has kind of trapped us
• 1:04:43
  into. When your mission focus, like my
• 1:04:45
  mission here at Bitcoin well is literally I wake up this morning
• 1:04:49
  and my daughter comes in. I haven't seen her all weekend.
• 1:04:51
  I got in late last night. She comes in my room, she goes,
• 1:04:54
  daddy big hug, hugging, a kiss tells me all about our dance
• 1:04:57
  competition. Like that's who I'm working for.
• 1:05:00
  We need to enable independence for that generation.
• 1:05:02
  And then I think about 30 years down the road when she's going
• 1:05:06
  to have a kid who needs that independence.
• 1:05:08
  And I don't know if you guys know this but independence is
• 1:05:11
  not given. It's taken and we need to do the
• 1:05:13
  work, we need to make the actions, take the actions to
• 1:05:17
  actually self custody. And so whether or not you use
• 1:05:21
  yourself a self custody by default platform, it's automatic
• 1:05:25
  self custody platform like onboard the people that need it
• 1:05:28
  to automatic self custody do the work with them and then like
• 1:05:32
  tell us how to make it easier help us do that.
• 1:05:35
  And then lastly, and I'll put a little bit of heat on the
• 1:05:37
  audience here, like why you supporting someone that supports
• 1:05:40
  61 O2? Why you supporting someone that
• 1:05:42
  supports, you know, broker and custodian being aligned.
• 1:05:46
  We need to disalign broker and custodian.
• 1:05:50
  If you need to use a custodian, do it.
• 1:05:52
  Use nunchuck, use someone that doesn't broker that doesn't sell
• 1:05:57
  the coins. The broker and the custodian
• 1:05:59
  need to separate. Otherwise the incentives are too
• 1:06:02
  messed up. We need to look at the
• 1:06:03
  incentives, Nico, that's your catch phrase.
• 1:06:05
  Look at the incentives and allow for self custody, Automatic self
• 1:06:10
  custody not only just automatic, like only option self custody.
• 1:06:14
  There's no other way to buy Bitcoin.
• 1:06:16
  Bitcoin well and there's and there's, you know, like the like
• 1:06:18
  the chat mentioned, you know, bull.
• 1:06:19
  Bitcoin and Bitcoin well in Canada, both non custodial, both
• 1:06:23
  doing this way, but the only option in the USA is Bitcoin.
• 1:06:27
  Well, for automatic self custody, I hope that we inspire
• 1:06:30
  competition. I love competition.
• 1:06:32
  As long as it's mission focused. We got to work together and we
• 1:06:36
  got to enable independence as much as possible and as fast as
• 1:06:39
  possible, So that's kind of like that maybe went on a little bit
• 1:06:42
  ranty. No, not at all, dude.
• 1:06:44
  Need to enable independence. Not at all.
• 1:06:46
  And and this is exactly, precisely why I say in the
• 1:06:49
  beginning of the show, that it aligns with the simply Bitcoin
• 1:06:51
  ethos of the separation of money and state.
• 1:06:53
  Like guys, there's two ways to look at this industry.
• 1:06:57
  You look at it from the I want to get rich and I think a lot of
• 1:07:01
  us, you know, the incentive structure is there where
• 1:07:04
  initially you're like you come for the money, you save for the
• 1:07:06
  revolution. But the awesome part about this
• 1:07:08
  revolution, unlike this, like the separation of church and
• 1:07:11
  state and all these things that have happened before is that
• 1:07:13
  this is not kinetic. This is so far, this is, this is
• 1:07:17
  kind of like an information narrative trench warfare and all
• 1:07:22
  you got to do to be a revolutionary is literally take
• 1:07:25
  self custody, right. And you know, I, I, I think I, I
• 1:07:29
  came to this realization many, many months ago and I'm pretty
• 1:07:33
  sure I've told you this story. But basically I'm like the IT
• 1:07:35
  team for my entire family. I'm like the Bitcoin guy.
• 1:07:41
  And you know, what I've come to realize is that, like, you know,
• 1:07:46
  human beings are creatures of convenience.
• 1:07:49
  And if it's a situation where you know, of course they want to
• 1:07:53
  benefit from number go up, but the right incentive structure is
• 1:07:57
  not there for them to learn. Like if you can make a sandwich,
• 1:08:03
  if you could take care of a baby, like you can write down
• 1:08:06
  like 12 words, like literally. And there's so many good options
• 1:08:10
  nowadays in terms of open source wallets, hardware devices.
• 1:08:16
  Obviously passport with Envoy is absolutely amazing and delicious
• 1:08:20
  and easy to use. So it's like you, you have no
• 1:08:24
  excuse. Like you have collaborative
• 1:08:26
  custody. You have Nunchuck, right?
• 1:08:28
  Like, there's so many, there's so many different tools that
• 1:08:31
  make it incredibly easy. This wasn't, this didn't exist,
• 1:08:35
  like, you know, five years ago or, you know, eight years ago,
• 1:08:39
  like in the very beginning of Bitcoin.
• 1:08:42
  Like none of this existed, none of this infrastructure, none of
• 1:08:45
  this technology, none of these, none of these entrepreneurs that
• 1:08:48
  developed these hardware devices, none of these wallets.
• 1:08:51
  And it was actually like like somewhat technically difficult.
• 1:08:55
  Like now is the easiest time. And I bet you five years from
• 1:08:58
  now clever entrepreneurs are gonna find even easier ways,
• 1:09:01
  right? But it's incredibly important
• 1:09:04
  to, in my opinion, to support the revolution.
• 1:09:09
  And the revolution is self custody, right.
• 1:09:11
  So can you make my computer faster?
• 1:09:14
  Yeah, basically. So, yeah, you know, and This is
• 1:09:18
  why, you know, This is why I personally love Bitcoin.
• 1:09:20
  Well, because it's it's self custody by default, right.
• 1:09:24
  And we have to support the platforms that, you know, have
• 1:09:29
  the right incentive structure in place for people to perhaps not
• 1:09:34
  do the convenient thing. Convenience doesn't win
• 1:09:38
  revolutions, right? You have to take some action in
• 1:09:41
  the agency in the in the process.
• 1:09:43
  And part of that is, and This is why we need you know like This
• 1:09:47
  is why we partnered with you guys and and why I'm so stoked
• 1:09:49
  with working with with your audience and your customers is
• 1:09:51
  I've gotten to work with dozens of the simply Bitcoin audience
• 1:09:55
  who's giving me feedback. We can make the product better
• 1:09:57
  but like we have to think about just look at the US market as a
• 1:10:01
  whole and the options that they've had to buy Bitcoin.
• 1:10:03
  One of the problems with self customer by default is that we
• 1:10:06
  are exposed to to fraud through the ACH platform.
• 1:10:09
  And so we have to a a big a big important thing to me is that
• 1:10:13
  when you buy Bitcoin you get Bitcoin like on the blockchain
• 1:10:16
  like that's just that's just how it needs to be.
• 1:10:18
  And so everyone who buys Bitcoin right now at at at other
• 1:10:22
  platforms in the USA if you have instant exposure to Bitcoin you
• 1:10:26
  are not able to withdraw the Bitcoin because the money hasn't
• 1:10:30
  hasn't landed it's it's it's it's it's not a it's not a
• 1:10:33
  healthy way to be able to allow that.
• 1:10:35
  And so I massively discounted how important people wanted to
• 1:10:39
  just like push the button and smash by and more how they were
• 1:10:43
  conditioned and trained that they could just smash the, you
• 1:10:46
  know hit the button and smash by from money in their bank even
• 1:10:48
  though it takes you know two or three days for the bank to move
• 1:10:51
  the money. And so right now we are actively
• 1:10:53
  like within I'll say days, the team will kill me and they'll
• 1:10:56
  want me to say weeks, but within days you will be able to self or
• 1:11:01
  you'll be able to have price exposure at pickwomo.com while
• 1:11:05
  we wait for that money to clear. It will be a pending withdrawal
• 1:11:08
  state and we will then broadcast the transaction once the money
• 1:11:11
  clears. And so This is why like the
• 1:11:13
  Canadian, the MV and the American market are so
• 1:11:15
  different. In Canada we have this this
• 1:11:17
  payment rail. As centralized as it is, that is
• 1:11:19
  fairly instantaneous. You can go from from your bank
• 1:11:22
  to Bitcoin on the blockchain. I've done it in nine seconds,
• 1:11:25
  Bank to Bitcoin on the blockchain in nine seconds.
• 1:11:27
  That same payment rail doesn't exist in Canada.
• 1:11:29
  And admittedly I discounted how important it was to be able to
• 1:11:32
  go from, you know, bank to at least price exposure in in, you
• 1:11:37
  know, 9 seconds. But at the end of the day, we
• 1:11:41
  will allow you to go from bank to price exposure to real
• 1:11:44
  Bitcoin. There will just be steps in the
• 1:11:46
  middle. The important thing here is that
• 1:11:48
  at no point in time are your coins ever left on the platform.
• 1:11:52
  Your coins need to go their end state.
• 1:11:54
  When the transaction is finished, they need to be in
• 1:11:58
  your wallet. Otherwise you are exposed to all
• 1:12:02
  kinds of bad things and guys, you have zero benefits.
• 1:12:06
  There is literally no benefit, absolutely zero, to holding
• 1:12:11
  coins on an exchange. It's like I I just I fail to see
• 1:12:16
  where and how this this complacency and this desire to
• 1:12:22
  leave our coins and somebody else our value our wealth in
• 1:12:25
  somebody else's hands came to be.
• 1:12:28
  So it's truly our mission to enable independence and to
• 1:12:31
  actually make it possible And now you know we're excited in
• 1:12:33
  Canada if you're Canadian watching the show you know smash
• 1:12:36
  like hit us up go to at the Bitcoin well on Twitter use cash
• 1:12:39
  vouchers and give us that same feedback.
• 1:12:41
  We need this feedback so we can make better products and and you
• 1:12:45
  guys know I got thick skin. I've been I've been talking
• 1:12:47
  about Bitcoin for 11 years and when you're talking about
• 1:12:50
  Bitcoin for 11 years you've got people to call you some crazy
• 1:12:53
  things So no one nobody has said something that that is going to
• 1:12:59
  offend me. You guys won't do it.
• 1:13:00
  Be honest, be true. Let me know what's going on and
• 1:13:03
  we're going to make it better and this will be this is what's
• 1:13:07
  so exciting about technology and about deflationary technology
• 1:13:10
  like Bitcoin and the Bitcoin, well this will be the hardest it
• 1:13:14
  ever is to self custody. It's only going to get easier
• 1:13:18
  but it will only get easier. It'll get easier faster if you
• 1:13:22
  support companies that are automatic self custody.
• 1:13:25
  And if you reach out to companies that want feedback for
• 1:13:28
  automatic self custody, frankly, like if you really don't like me
• 1:13:32
  or you don't like the company, whatever, that's fine.
• 1:13:34
  Go use a platform that allows you to self custody by default
• 1:13:38
  and give them your feedback so that I can look at them and what
• 1:13:42
  they're doing. Like, yo, that's a good idea we
• 1:13:45
  should implement. And this is how the free market
• 1:13:46
  thrives, is that we work in competition with each other to
• 1:13:50
  provide the best possible value for the lowest marketable price.
• 1:13:55
  And this is the Bitcoin well way.
• 1:13:57
  This is the mission to enable independence.
• 1:13:59
  And yeah, go do it. Love it.
• 1:14:01
  I love it. Agree guys, go to bitcoinwell
• 1:14:05
  dot. Com slash niko's going to try to
• 1:14:06
  wrap this up. We're not going to let we're not
• 1:14:07
  going to wrap it up yet Niko. Sorry.
• 1:14:09
  I I want. To bitcoinwell.com slash.
• 1:14:12
  BTV don't even say it. Don't even say it.
• 1:14:16
  I do I do want to touch on something and and we were having
• 1:14:19
  this conversation all all weekend.
• 1:14:20
  You know we shared a house in in Dallas.
• 1:14:23
  I I hung out with a Canadian Opti and and Joe you know the
• 1:14:27
  programmer part of the Bitcoin well team and you guys kept
• 1:14:31
  beating on a simple message. You're like, look, we love the
• 1:14:35
  feedback from the audience, continue to give us feedback,
• 1:14:37
  continue to, you know, rip Adam a new one.
• 1:14:40
  Because every two weeks we're going to keep updating the
• 1:14:43
  Bitcoin while platform and make it the best Bitcoin exchange
• 1:14:47
  that we can in the US. So touch on that a little bit,
• 1:14:49
  Adam, and then I I think Nico is trying to wrap up.
• 1:14:52
  Yeah man, I mean, thank you very much American James Shout out
• 1:14:56
  James, we have this joke that, well, we can go into that
• 1:15:01
  another time. It's like the feedback that we
• 1:15:03
  get gets actioned immediately and action doesn't mean built
• 1:15:07
  immediately, but it means put together with all of the other
• 1:15:09
  feedback. And so you guys told us
• 1:15:11
  overwhelmingly, yo, I want to deposit money and I want instant
• 1:15:15
  price exposure. I need to get rid of this Fiat
• 1:15:18
  as soon as possible. And I'm like talking to them and
• 1:15:20
  I'm like, guys, you can't get a blockchain like you like.
• 1:15:22
  You just can't get a TXID that fast.
• 1:15:24
  It doesn't work because the money doesn't actually hit our
• 1:15:26
  our bank account for like two or three days afterwards.
• 1:15:30
  And they say that's fine, just as long as I get it eventually,
• 1:15:33
  as long as once the money's cleared, I get the Bitcoin.
• 1:15:35
  I want to have the opportunity, the option to get price exposure
• 1:15:39
  instantly. And so that's what we're doing.
• 1:15:41
  And and that little piece of feedback is going to help us
• 1:15:44
  hopefully serve more users, help more users get that instant
• 1:15:47
  price exposure and the self custody experience and then give
• 1:15:51
  us more funds, give us more capability.
• 1:15:53
  You know, guys, you guys know we make 1% on every transaction.
• 1:15:56
  And so it's not a huge volume, it's not a massive spread that
• 1:16:00
  we have to play with. We need scale.
• 1:16:02
  We need more people using it, and the more people that use it,
• 1:16:05
  the more feedback that comes. We tighten up that feedback
• 1:16:07
  loop. When there's ten people using
• 1:16:09
  the platform, we have a bit of a longer feedback loop.
• 1:16:12
  When there's 100 people using the platform, we have a shorter
• 1:16:16
  feedback loop. More feedback in a shorter
• 1:16:18
  amount of time means more effort and means more more effort in
• 1:16:22
  the right direction because the platform gets better, which
• 1:16:24
  means more feedback, which means a shortened feedback loop.
• 1:16:26
  And the whole thing compounds into an incredible place for
• 1:16:30
  people to buy and sell Bitcoin directly to and from their self
• 1:16:33
  custody. And so yeah, man, like keep it
• 1:16:35
  up, hit us up on Twitter, do it publicly if you want to.
• 1:16:38
  And if you think I'm like, you know, like I love being called
• 1:16:42
  out so much because it gives me an opportunity to improve, I'm
• 1:16:45
  like pretty confident and and grounded in my mission and
• 1:16:51
  everything is done through a mission to enable independence.
• 1:16:53
  We see some of these business leaders who are not mission
• 1:16:56
  focused, they're not authentic and they get threatened at the
• 1:17:00
  sense of feedback. But like I am, I am friendly and
• 1:17:05
  and in some cases friends with lots of my competitors, one of
• 1:17:10
  our like board members now and and incredible advisor to the
• 1:17:14
  company. We were direct competitors in
• 1:17:16
  the exact same market at the same time, but we've always been
• 1:17:20
  friendly competitors. We grew together, we pushed each
• 1:17:22
  other to be better and now look at us, we're we're working
• 1:17:26
  together to make independence and and Bitcoin self custody
• 1:17:29
  possible. So it's important to to give
• 1:17:32
  feedback and and take this outside of just your Bitcoin
• 1:17:34
  life. Like the platforms that you
• 1:17:36
  like, the the systems that you enjoy using, offer feedback to
• 1:17:41
  the entrepreneurs and if that entrepreneur doesn't want your
• 1:17:44
  feedback, find a new platform 'cause it won't survive.
• 1:17:47
  It's not mission focused. When you're mission focused
• 1:17:49
  instead of ego focused, the feedback is positive.
• 1:17:52
  When you're ego focused, your ego gets bruised and you're not
• 1:17:56
  able to accept that feedback. And so I just hit me with the
• 1:18:00
  feedback. Be as blunt as you want, it's
• 1:18:03
  all good. And let's make Bitcoin, well,
• 1:18:05
  the number one place to buy Bitcoin in the USA and in Canada
• 1:18:11
  and across other continents as we're able to expand out.
• 1:18:15
  Love it. Love it.
• 1:18:16
  Wait, wait, Nico. Sorry I I remind I was
• 1:18:18
  remembered of something. Adam, you did want to do a call
• 1:18:21
  out live on the show about freedom, maxing and breaking the
• 1:18:25
  echo chamber. You want to do this now before
• 1:18:26
  we wrap the show up. About what?
• 1:18:30
  The the conference thing, I'm blanking on what it is you
• 1:18:34
  tweeted out to that one guy. Yeah, yeah, yeah.
• 1:18:36
  Ryan Panita. OK, so check this out.
• 1:18:38
  So before we wrap the show pinned to the top of my Twitter
• 1:18:42
  profile is a tweet to Ryan Panita.
• 1:18:45
  Ryan Panita is a business influencer.
• 1:18:47
  He's got a lot of successful businesses and he has one of his
• 1:18:50
  businesses is called the Wealthy Kingdom and they are a a a
• 1:18:55
  organization dedicated to Christian entrepreneurs.
• 1:18:58
  I want to orange peel the church.
• 1:19:00
  Bitcoin is a biblical asset and I think the church needs Bitcoin
• 1:19:04
  more than anyone. Right now they're hosting a
• 1:19:06
  thing called Kingdom Summit and I wanna go to Kingdom Summit and
• 1:19:11
  talk about Bitcoin, Orange, peel, the church.
• 1:19:13
  And so if you think that's a valuable mission, that resonates
• 1:19:15
  with you. Top of my Twitter profile is the
• 1:19:18
  tweet, go repost it, go tweet. Ryan Panita hit him up, He's
• 1:19:22
  popular, more popular on Instagram than he's on Twitter.
• 1:19:24
  Hit him up on Instagram and say Adam O'Brien wants to talk,
• 1:19:27
  needs to talk at the Kingdom Summit about Bitcoin as a
• 1:19:31
  biblical asset. That would be very, very
• 1:19:33
  appreciated. So yeah, simple CTA there.
• 1:19:36
  Go to the top of my Twitter and and and retweet or repost the
• 1:19:42
  the post to Ryan Pita. Beautiful, beautiful guys.
• 1:19:44
  Go to bitcoinwell.com/simply Bitcoin.
• 1:19:47
  Go follow follow Adam at Adam O'Brien under score on Twitter.
• 1:19:53
  Adam, thank you so much for joining us on the show today.
• 1:19:55
  I appreciate it. For real.
• 1:19:56
  For real. No cap.
• 1:19:57
  That's what's up. This was straight busting gas,
• 1:19:59
  boys. Gas.
• 1:20:04
  Anyways guys, this was a simply a Bitcoin episode for April
• 1:20:06
  15th, 2024. I'm your host Nico, as my
• 1:20:09
  legendary Co host. Optimist feels our awesome guest
• 1:20:12
  Adam O'Brien. And guys, love you all.
• 1:20:14
  We'll be back tomorrow for a brand new episode of Simply
• 1:20:17
  Bitcoin Live. I'm going to, I'm going to, I'm
• 1:20:19
  going to put Adam on the spot right now.
• 1:20:21
  Adam, I will be out Thursday and Friday.
• 1:20:24
  Do you wanna do you wanna fill in the cohost spot with Opti?
• 1:20:28
  The cohost seat. Yeah, one.
• 1:20:30
  Of those days? Thursday, Friday.
• 1:20:31
  Which one? Which one?
• 1:20:34
  Which one? Yeah, let's go.
• 1:20:35
  Let's go Friday, man. All Friday.
• 1:20:36
  Let's end the week with Adam. Opti show that is.
• 1:20:40
  This could get out of. Are you sure, bro?
• 1:20:41
  This could get a little out of hand.
• 1:20:43
  As long as you don't get us banned, we're good.
• 1:20:45
  But yes, you pick the meme, You pick the meme review.
• 1:20:48
  All right, sweet. All right, so Adam will be Co
• 1:20:51
  hosting with Opti on Friday while I'm in Nashville and love
• 1:20:55
  you all guys, love you everyone. And we're back tomorrow for many
• 1:20:58
  episode. Here we go.
• 1:21:01
  So it was brought to you by bitcoinwell.com, a Bitcoin only
• 1:21:04
  platform on a mission to enable financial independence.