Latest / Simply Bitcoin / SHOCKING: US INSIDER ACCIDENTALLY LEAKS THE TRUTH ON NATIONAL NEWS | EP 1310

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SHOCKING: US INSIDER ACCIDENTALLY LEAKS THE TRUTH ON NATIONAL NEWS | EP 1310 · Simply Bitcoin

• 0:00
  The $2.5 trillion question in the space right now is how much
• 0:05
  Bitcoin does America really hold?
• 0:07
  We've seen rumors, speculations, conspiracy theories, and even
• 0:11
  paid bounties and investigations.
• 0:14
  But today we're going to be exploring why what Scott Besson
• 0:17
  just said on the national news might finally reveal the truth
• 0:21
  about America's Bitcoin holdings.
• 0:24
  Let's get into the clip. We've got this, the large gold
• 0:27
  holding. I I doubt we're going to revalue
• 0:30
  it, but we're we're going to keep it there again as a store
• 0:34
  of value for the American people.
• 0:36
  We've also started A to get into the 21st century, a Bitcoin
• 0:41
  strategic reserve. We're not going to be buying
• 0:44
  that, but we are going to. Use confiscated assets and
• 0:49
  continue to build that up. We're going to stop selling
• 0:52
  that. You know, I, I believe that
• 0:54
  Bitcoin Reserve at today's prices is, is somewhere between
• 0:57
  15 and 20 billion. And and Mr. Secretary, all of
• 1:04
  these ideas to monetize the asset side of the balance sheet
• 1:07
  of America, is that partly the beginnings of this sovereign
• 1:10
  wealth fund that you spoke about in your hearing back in January?
• 1:14
  I, I, I think that these, these are all stand alone ideas and
• 1:19
  that as we get more into them, I, it, it will require
• 1:23
  legislation. We'll do it through statute to
• 1:26
  the, create a fund to. All right, guys, a lot to unpack
• 1:31
  there. And of course, I'm not alone.
• 1:33
  I got Sophie here, the wonderful Internet, Sophie on our new
• 1:36
  superstar here, AKA the better half of Nico.
• 1:38
  And then we got Terrence Michael, Bitcoin educator X real
• 1:41
  estate X Hollywood. I'm sure you guys have seen his
• 1:44
  videos on Twitter. He's out.
• 1:45
  He's the guy skateboarding explaining about Bitcoin.
• 1:49
  It's, it's really been going viral.
• 1:50
  All right, guys, I do need to kind of unpack a lot of things
• 1:54
  here. There was 3 really big ideas
• 1:57
  that we heard from US Secretary of Trade Scott Bessent in this
• 2:01
  clip that just dropped this morning.
• 2:02
  The first one, which was all the speculation, was this idea.
• 2:06
  Maybe the feds going to revalue their gold.
• 2:08
  Maybe they're going to have a revaluation here because we all
• 2:11
  know the gold holdings that they have is at levels that are like
• 2:15
  100 years old here. And so now apparently, you know,
• 2:20
  they're saying we're probably not going to do that.
• 2:22
  But Lance apart noted something really interesting here and it
• 2:25
  goes three months ago it went from we are not going to revalue
• 2:29
  gold to today, it's doubtful that we're going to revalue
• 2:32
  gold. So interesting reveal here.
• 2:35
  There's a lot to unpack. And actually, Terence, let's
• 2:38
  let's just start here. The idea of reevaluating gold to
• 2:41
  a potentially buy Bitcoin as a budget neutral way of acquiring
• 2:46
  Bitcoin. It's really going to get
• 2:47
  destroyed by the the next point of this, you know this clip
• 2:52
  here. But what what was what's your
• 2:54
  idea on this is Larry right here?
• 2:56
  I know you're a huge fan of Larry.
• 2:58
  It it does seem like they are changing or rather moving the
• 3:02
  goal posts here. Well, I mean, first of all, I
• 3:05
  think, I don't think anyone in the government knows if how much
• 3:08
  gold we have in Fort Knox or if we even have the gold, right.
• 3:11
  So I think that's a huge problem.
• 3:14
  It's like, why were we seeing so much gold being shipped from
• 3:17
  other countries, right? When Trump said we're going to
• 3:20
  do an audit or Elon said we're going to do an audit.
• 3:22
  So first of all, I don't know how how much we have or how long
• 3:25
  it's going to take them to do that.
• 3:27
  And then what are the geopolitical consequences of
• 3:30
  suddenly re evaluating the gold? Like that might sound good to
• 3:33
  us, but what happens when all of the other nation states start re
• 3:36
  evaluating their gold? And then since obviously it's
• 3:39
  not on chain like Bitcoin, there's no transparency, there's
• 3:43
  no way to audit other than just what people say.
• 3:45
  So suddenly we're just having like one of the biggest poker
• 3:48
  games of people saying how much gold they have, you know, so, so
• 3:51
  suddenly re evaluating gold to me is almost like, you know,
• 3:55
  paper gold on steroids. OK, we just re evaluated the
• 3:59
  gold. Everybody you know, now we have,
• 4:01
  you know, 40 trillion in gold. So that's the biggest issue.
• 4:05
  I feel like the only people that might know how much gold we have
• 4:07
  are like the the two guards standing outside the door.
• 4:10
  But you know what's it going to take to get information from
• 4:12
  them? Yeah, no, 100%.
• 4:15
  And then the second part I want to hit real quick before we get
• 4:19
  into kind of the more juicier stuff here is this is this is
• 4:24
  like what the headline is here, which is I think Scott Besson
• 4:27
  slipped up here. And it really does confirm a lot
• 4:31
  of the rumors we've been talking about.
• 4:33
  Remember about a month ago, we got a Freedom of Information
• 4:37
  act, you know, statement from the US Marshals.
• 4:40
  And it really started to hit the rumor mill of how much Bitcoin
• 4:44
  does the US actually hold. At the time we were saying if
• 4:48
  the US Marshals hold all of the Bitcoin that the US claims, it
• 4:51
  was like 40 or 50,000 coins. Now Scott Besson said something
• 4:55
  completely different, which is our goal or Bitcoin that we hold
• 4:59
  currently in the strategic Bitcoin reserve is valued around
• 5:03
  50, 18 to $20 billion, which is interesting when you do the
• 5:07
  math. Now, of course, the kind of idea
• 5:10
  is or so far again, as Terence was saying, we we really are
• 5:14
  doing a trust us bro moment here.
• 5:17
  Allegedly the US has around 198,000 and 22 Bitcoin.
• 5:22
  I know it went as high as they potentially had 210,000 Bitcoin.
• 5:27
  And if you do the math, I did do some, you know, back of the
• 5:29
  napkin math here and I'm using the numbers from Bitcoin
• 5:33
  Treasury because that's as confirmed as we have here.
• 5:35
  So allegedly, if the US holds 198,000 and 82 Bitcoin at the
• 5:40
  current price, which is roughly around 118,000, that means that
• 5:45
  the US holdings is around $22.66 billion.
• 5:48
  Now, if you kind of go on the lower end of what Scott Besson
• 5:52
  was saying, again, remember he said we hold about 15 to $20
• 5:56
  billion of Bitcoin, so 50 or $5 billion.
• 6:01
  Oh, this one's supposed to be divided guys.
• 6:02
  I did do the divide 1 here all right, so don't don't Fact Check
• 6:06
  me 50 or $5 billion divided by the current price of Bitcoin 118
• 6:12
  is $118,000, which means based on you know some rough
• 6:17
  speculative math here that's somewhere between 40,000 less
• 6:23
  Bitcoin that they claim to have or rather that we assume they
• 6:28
  have and we've seen some higher speculations of potentially
• 6:33
  maybe they hold, I don't know 20 what what is this Alex Thorne
• 6:37
  says maybe about like 80 to 40,000 less Bitcoin.
• 6:44
  So we really have no idea, but it sounds like we have a lot
• 6:48
  less Bitcoin than we thought. So maybe it's in the 150,000
• 6:54
  range that they actually have, which is a lot of the
• 6:57
  speculation we've been talking about.
• 6:59
  People been wondering where has all the Bitcoin come?
• 7:01
  Why isn't the Bitcoin price going up?
• 7:03
  Is this paper Bitcoin? If these numbers, if he did
• 7:07
  actually just leak, So if he did just leak how much the Bitcoin
• 7:10
  they actually hold, we might hold a lot less Bitcoin than
• 7:14
  they claim. And now that means we probably
• 7:17
  hold less Bitcoin than China, which is not really setting us
• 7:21
  up for becoming the quote UN quote Bitcoin superpower of the
• 7:24
  world. So that's, you know, I think
• 7:26
  that's the big speculation that hit on Twitter right now is
• 7:29
  like, OK, he said 15 to 20 billion.
• 7:33
  It sounds like we sold a lot more Bitcoin than they claim.
• 7:36
  That's the second point of this that we're going to talk about
• 7:40
  for a moment. And then the big kahuna is the
• 7:42
  last one, I believe. So, Sophie, let's start with
• 7:45
  this. You've been following along on
• 7:46
  this story with us. Did he just leak how much
• 7:49
  Bitcoin they actually hold it it look, maybe I'm speculating,
• 7:53
  maybe I'm reading between the lines here.
• 7:55
  Maybe I'm just trying to, you know, give some good content for
• 7:58
  you guys. But it sounds like he said.
• 8:00
  We probably sold about 40 to 50,000 coins.
• 8:04
  You know my instinct, 'cause I'm not going to pretend that I
• 8:08
  really like know what's going on.
• 8:10
  Scott Bessett's head is that Scott Bessett is a politician at
• 8:14
  the end of the day, he is working for the Trump
• 8:17
  administration. A lot of Trump himself, you
• 8:20
  know, and all, a lot of his followers and donors, they love
• 8:24
  gold. So when you say that you're
• 8:26
  going to revalue gold, not only does that make gold a little
• 8:30
  bit, you know, unstable by like talking about that, what does
• 8:33
  that say about the US dollar? You know, when gold goes up,
• 8:37
  people start to like lose a little bit of faith in in the
• 8:40
  dollar and eventually like that's what we want to happen.
• 8:42
  But with Bitcoin and and you know, all all these central
• 8:46
  banks, they live and die by confidence.
• 8:49
  It's purely a proof is a proof of stake system.
• 8:53
  So, you know, I think that all of this news that has been
• 8:59
  favorable to Bitcoin has maybe, you know, maybe they got some
• 9:02
  calls about this and and they said, listen, chill with the
• 9:07
  with the gold FUD here, Like we are like chill with the whole
• 9:12
  revaluing gold thing. And I think that, you know,
• 9:15
  there, there is a reason why he is on legacy media talking about
• 9:19
  this. And that reason might be to just
• 9:22
  like balance the narrative. Maybe they did sell that amount
• 9:27
  of Bitcoin. But the reality is we don't
• 9:30
  actually know. We don't even know how much gold
• 9:32
  there is in our reserves. So how could we really know how
• 9:35
  much they've sold? I'm very bullish on the fact
• 9:40
  that they're going to keep buying.
• 9:41
  But we're seeing huge institutions buy.
• 9:44
  Harvard is buying, Brown is buying.
• 9:47
  BlackRock keeps buying. Coinbase is about to make a
• 9:50
  massive purchase. David Bailey, All of these
• 9:52
  people are, you know, signaling towards purchasing Bitcoin.
• 9:57
  So why wouldn't the US government do the same?
• 10:02
  I mean, big question. Scott Besson very clearly said
• 10:05
  we are not buying more, which is the second part.
• 10:07
  But Terrence, I want to get your thoughts on if Scott Besson just
• 10:11
  leaked, how much the US actually holds and what the implications
• 10:15
  are here. Someone just said your
• 10:17
  unbuttoned shirt is the recession indicator.
• 10:21
  It's hot down here. Sorry, it distracted me.
• 10:24
  Well, so yeah, I I agree with a lot of what Sophie just said and
• 10:28
  I'll probably give a little bit more measured response because I
• 10:30
  think there's, you know, we're all just trying to guess.
• 10:32
  And one, we know we can't trust politicians.
• 10:35
  We know they're being politicians.
• 10:36
  They're playing a poker game going back to that analogy.
• 10:42
  And you know, so one, if if the nation state wants to stack
• 10:46
  Bitcoin, and I do believe that there are some, there are some
• 10:49
  good people in the administration that that
• 10:52
  absolutely do want to do that, that do understand it.
• 10:54
  There aren't many, but I believe that there are one.
• 10:56
  Why would you Telegraph that to everybody else, right?
• 10:59
  That we get like that's just is stupid.
• 11:02
  Two, I don't know when he's evaluating this 15 to 20 billion
• 11:07
  he's talking about, but you know, just three months ago we
• 11:09
  were at 100 and 1101 thousand. You you take his figure.
• 11:12
  Well, that's the 198,000 Bitcoin that we're looking at there.
• 11:16
  Three, we don't really know how much Bitcoin there is.
• 11:19
  And again, you know, Bitcoin is is transparent and it's audible
• 11:23
  and it's on chain. And so it's like we either have
• 11:25
  Bitcoin or we don't If if it's custody somewhere, we don't have
• 11:28
  the Bitcoin, someone's telling us we have the Bitcoin.
• 11:30
  So we either have it or we don't.
• 11:31
  So to me, similar to the gold, I don't know why we can't just say
• 11:35
  how much Bitcoin we have except for game theory and.
• 11:43
  It's because politicians are allergic to transparency.
• 11:47
  Well, exactly. They're allergic to
• 11:49
  transparency, but I also think that it, you know, we do have to
• 11:53
  we do have to play a game here. And here's why.
• 11:56
  This game comes with certain steps.
• 11:58
  And we already know what the first step is, which Bescent
• 12:00
  isn't talking about here. But but look at the genius act
• 12:03
  that was passed. We have to support the dollar.
• 12:06
  We need we need people to buy our debt and stable coins are
• 12:10
  the next phase for us to come out now and to say that we're
• 12:13
  stacking, you know, we're buying a lot more Bitcoin sort of goes
• 12:16
  against that for all of the people that we need to buy our
• 12:19
  debt for, you know, to pay for our wars to pay for our interest
• 12:22
  costly and what are we at almost like a trillion bucks a year
• 12:25
  getting close to that. So I believe that whether
• 12:30
  whether they're doing it or not, we're not going to know and
• 12:32
  they're not they're not going to be able to show us any on chain
• 12:34
  addresses. There's no proof of reserves of
• 12:36
  Bitcoin. They're they need to but by him
• 12:40
  telegraphing this, there's nothing but good news.
• 12:43
  There's no bad news other than us based bitcoiners going like,
• 12:46
  what the hell you say we're going to buy Bitcoin at the same
• 12:48
  time. Look, we do want to separate
• 12:50
  money from state. We do want to separate money
• 12:52
  from trust. And this is actually proving why
• 12:54
  we want to separate money from trust.
• 12:56
  This is great. Let the people that that Bitcoin
• 12:58
  was made for how Satoshi designed it stack as much as
• 13:01
  they can to get in front of nation states.
• 13:03
  We're going to have plenty of time.
• 13:04
  I just still don't believe that they're not stacking.
• 13:07
  I don't believe what he's saying.
• 13:09
  I think there's enough people that understand the
• 13:12
  implications. They understand that Bitcoin is
• 13:14
  the new monetary system, but they have to support the dollar.
• 13:17
  Why would they not support the dollar?
• 13:19
  So we can guess all day long, but just a little bit more
• 13:24
  measured response. Yeah, I love the measured
• 13:27
  response because I go full bulltard maxi on you do.
• 13:30
  So you know, I need someone to balance me out here.
• 13:32
  And this is really, you mentioned a few things that are
• 13:35
  going to lead to the third striking thing we heard from
• 13:37
  this very short clip, which was he very deliberately said and of
• 13:41
  course he's a politician. Maybe like you said, they don't
• 13:44
  want to Telegraph what they're doing and maybe they're publicly
• 13:48
  saying something and doing the complete opposite of it.
• 13:50
  But he did specifically say we are not buying any Bitcoin and
• 13:54
  the only way we are going to acquire more Bitcoin for the
• 13:57
  strategic Bitcoin reserve is basically by confiscating
• 14:01
  assets. Now as a bulltard, not very
• 14:04
  trustful of the government. All I'm hearing here is they
• 14:08
  want to confiscate your Bitcoin, which is something we talk about
• 14:12
  here constantly. We all know the 6th one O 2
• 14:14
  order around gold. Now is this where we're headed?
• 14:17
  Did we all just get rug pulled by the US government here?
• 14:21
  I, I think they've been stacking, but hearing this
• 14:23
  public, it doesn't make me feel that good.
• 14:26
  And then Kaiser kind of agrees with what I'm saying right now.
• 14:31
  He's quote tweeting this clip and he goes, as I've been
• 14:33
  predicting on spaces, the US scared shitless.
• 14:36
  Bitcoin crushes the US dollar and they're scrambling to work a
• 14:40
  stablecoin solution. Spoiler, it won't work.
• 14:42
  Only Buchelli gets it. There's only one Bitcoin
• 14:45
  country. And on that idea of stablecoins,
• 14:48
  I know Terence just touched on it.
• 14:49
  We've been touching on this on the show for a while.
• 14:51
  We did also get this very interesting news around
• 14:54
  stablecoin that I think it all kind of combines here.
• 14:57
  So Coin Telegraph tweeted this and he goes update.
• 15:00
  The Bank Policy Institute urged Congress to close the Genius Act
• 15:04
  stablecoin interest loophole to prevent deposit flight.
• 15:08
  And you can see here flight risk and opportunity cost.
• 15:11
  The Treasury Department issued a report in April estimating that
• 15:14
  stablecoins could lead to as much as $6.6 trillion in deposit
• 15:18
  outflows, depending on whether stablecoins are able to offer
• 15:21
  interest or yield. With affiliates of stablecoin
• 15:23
  issuers or exchanges still being able to pay interest on
• 15:26
  stablecoins, the risk of significant deposit flight is
• 15:29
  even greater. And this is probably the point
• 15:32
  why it matters. Banks power the economy by
• 15:34
  turning deposits into loan. Incentivizing a shift from bank
• 15:38
  deposits and money market funds to stablecoins would end up
• 15:41
  increasing lending costs and reducing loans to businesses and
• 15:45
  consumer households. So putting all of this together,
• 15:48
  it is making a very interesting case which a lot of bit corners
• 15:51
  have been saying. The more I would say maybe
• 15:53
  cynical or pragmatic realist anti politician bit corners have
• 15:58
  been saying is like, look, they wanted you to vote for Trump and
• 16:03
  This is why they embrace Bitcoin.
• 16:05
  Though we have heard the Trump family, you know, make a lot of
• 16:08
  moves into Bitcoin and this is probably why we're seeing
• 16:10
  through Congress a lot of the push through stable coins right
• 16:13
  now. But that clip from Besant saying
• 16:16
  hey, we're not going to buy more.
• 16:17
  We're just going to confiscate your Bitcoin.
• 16:19
  That makes me like, yo, all right, I'm a complete red flag
• 16:23
  here. But I do actually believe that
• 16:26
  this could be publicly projecting something because I,
• 16:30
  yeah, for a while been saying I, I think the US government has
• 16:33
  been acquiring Bitcoin. Maybe that's on the individual
• 16:36
  level and maybe it's not on a federal level.
• 16:39
  And then when you really connect this with the fact that Bo Hines
• 16:41
  just stepped down, I was a lot more bullish when Bo Hines
• 16:44
  stepped down. I was like, yo, he's going into
• 16:46
  the private sector because he wants to acquire, you know, a
• 16:49
  bunch of Bitcoin. Go work for a Bitcoin treasury
• 16:52
  company with this news. I know Nico tweeted.
• 16:55
  He's like, this is probably why he stepped down because maybe
• 16:58
  they aren't acquiring the Bitcoin.
• 17:00
  They're not going to revalue the gold.
• 17:02
  Sounds like they might want to confiscate your Bitcoin.
• 17:04
  It does make you wonder. And I know a lot of Bitcoin or
• 17:07
  Spidey senses are are, you know, tingling right now 'cause this
• 17:11
  clip is really, I know Terrence says it's all good news.
• 17:14
  This clip in itself sounds like a lot of bad news.
• 17:16
  You know what? I'm gonna, I'm gonna agree with
• 17:18
  Terrence and like keep it on the optimistic side.
• 17:21
  I'm pessimist fields today. Wow.
• 17:23
  Come on, Opti. Yang no, cause OK, you mentioned
• 17:27
  that Trump has you know, and his family they've invested a lot in
• 17:32
  Bitcoin, but really they've just they've invested in crypto.
• 17:35
  Remember that these are the people that launched Melania
• 17:38
  coin, OK, they might be going all in, you know, in the shit
• 17:44
  coin casino and using that to buy Bitcoin like he's he best it
• 17:49
  is talking about confiscating it whatever.
• 17:51
  Remember that there are a lot of Americans out there, probably
• 17:56
  half of the country that wouldn't agree with using any
• 18:00
  sort of budget or making any aggressive moves in the economy
• 18:04
  to buy Bitcoin because they don't understand it.
• 18:07
  They see Bitcoin as this asset that is similar to every other
• 18:12
  shit coin. So, you know, what if they have
• 18:15
  to say this again, like to kind of calm these people down, what
• 18:19
  if they're going to end up selling the other digital asset
• 18:24
  reserves they have in order to stack Bitcoin?
• 18:27
  There are so many ways that they can do this in a quote UN quote
• 18:30
  budget neutral way. But the reality is that the
• 18:33
  everyday person does not understand it.
• 18:37
  They do not understand it. They don't follow it as closely
• 18:40
  as us or our viewers. And it's difficult for them to
• 18:44
  understand why the US government would be buying Bitcoin because
• 18:48
  they're used to the monetary system that we've had our entire
• 18:52
  lives. So, you know, I, I have often
• 18:55
  seen politicians say one thing and do another.
• 18:58
  I don't, I, you know, I think that you should believe what
• 19:01
  they do and not what they say. So far, this administration has
• 19:05
  come through on every single promise that they have made,
• 19:08
  including freeing Ross, which was at the top of the list of
• 19:11
  priority for bitcoiners. So I think we just have to watch
• 19:15
  what they do. And you know, what they say
• 19:19
  might, may be one thing, but don't be a normie.
• 19:21
  Don't be somebody who just watches legacy news and starts
• 19:25
  to get pessimistic. I think that that we should we
• 19:30
  should hold out Yesterday we reached a new all time high.
• 19:34
  We should be extremely happy about that.
• 19:36
  And you know, all of the news seems to be very bullish around
• 19:40
  this. So you know, F with Scott Best.
• 19:43
  It has to say, I don't believe these politicians.
• 19:46
  I'm going to keep stacking and I completely disagree with Max
• 19:50
  Keiser, to be honest. Like there isn't just one
• 19:53
  Bitcoin country. The US can absolutely be the
• 19:56
  leader of Bitcoin in the world, and I'm very optimistic on
• 20:01
  making that happen. OK, all right, all right, OK,
• 20:07
  all right. Sophie's the bull tar today and
• 20:09
  I'm a pessimist, All right. OK, Terrence, what's, what's
• 20:13
  your thoughts on all this? I mean, look, politicians are
• 20:17
  bought and paid for by corporations, right?
• 20:19
  You know, one of the biggest, you know, wealth fund managers,
• 20:22
  the largest asset holders out there is BlackRock, you know,
• 20:26
  BlackRock, Wall Street. I mean, look at look at the
• 20:29
  price today. Everyone's talking about how
• 20:30
  it's crashed. I mean, we're back to where we
• 20:32
  were a day and a half ago, right?
• 20:33
  And this is what happens whenever we make a surge to an
• 20:36
  all time high. We have these tourists who
• 20:39
  aren't here for the right reason, who don't understand
• 20:40
  Bitcoin or don't know what they have.
• 20:41
  They don't view it as money, they view it as a trade.
• 20:44
  And so they're going to come and go.
• 20:45
  And so those traders got scared of, you know, what Besson said
• 20:48
  or whatever, and, and they're out, but they are going to
• 20:52
  support at at minimum, whether we like it or not, the
• 20:55
  politicians are going to support Wall Street and Wall Street
• 20:58
  wants Bitcoin, BlackRock wants Bitcoin, pension funds want
• 21:02
  Bitcoin. We've got 11 ETFs, we've got all
• 21:05
  these Bitcoin treasuries. So aside from the whether we
• 21:08
  like that or not or whether we think they understand Bitcoin or
• 21:11
  not, the nation itself you have to view as a corporation which
• 21:15
  it which it really is because look at Bitcoin was made for
• 21:18
  individuals. I believe that a lot of
• 21:19
  individuals of the government for them and their families are
• 21:23
  buying Bitcoin, are stacking Bitcoin.
• 21:26
  When you look at even RFK over there in the health sector, it's
• 21:28
  like he is stacking Bitcoin. He's he, he is a Bitcoin or he
• 21:31
  saves in Bitcoin as a government.
• 21:35
  It's, it's all, it's all a big game.
• 21:37
  And by the way, you know, I personally read, you know,
• 21:39
  whether he probably wrote it or not back in the day, Trump's the
• 21:44
  Art of War. And if you read that book, like
• 21:46
  the strategy, the one thread that carries through that whole
• 21:49
  book is to not let your enemies know what you're doing or to let
• 21:52
  them think you're doing the opposite.
• 21:54
  And so none of this surprises me.
• 21:57
  I do think that I do think that the government is stacking.
• 22:02
  Look, and I also don't think that they're saying they want to
• 22:04
  confiscate our Bitcoin. They're just saying that is the
• 22:07
  way that they have per the executive order to acquire
• 22:10
  Bitcoin right now. That's budget neutral without
• 22:12
  them purchasing it. It's anything that's been
• 22:14
  confiscated they can convert into Bitcoin and that could be
• 22:17
  other crypto that could be, you know, whatever cars, artwork,
• 22:20
  jewelry. So I I'm just taking the
• 22:24
  optimistic, more measured approach to this as much as you
• 22:27
  know, the conspiracy theorist in me would like to think
• 22:29
  otherwise. Well, I forgot my tinfoil hat on
• 22:32
  today's show, but you guys know I love the tinfoil hat stuff.
• 22:36
  So look, I hope that Terrence is right.
• 22:39
  I like. On the one hand, if I am being
• 22:42
  less cynical and maybe less of a knee jerk reaction here, I, I
• 22:46
  think everything you said is more measured and does seem to
• 22:49
  kind of play into what we're saying.
• 22:50
  And Sophie said it. And I think that's probably like
• 22:53
  the biggest, the biggest signal here.
• 22:55
  It's like, watch what they do, not what they say.
• 22:57
  And you know, I am kind of basing everything on just what
• 23:01
  they're saying as well, not just what they're doing.
• 23:03
  But if you look at what they're doing, it does paint a more
• 23:06
  optimistic picture here. But if you're listening to what
• 23:09
  they're saying, like you said, maybe it is an art of the deal
• 23:12
  moment here. Maybe maybe this is them kind of
• 23:15
  get people off their tail and get, you know, hide their, their
• 23:18
  smell here. So I'm, I'm hopeful.
• 23:20
  I, I want to be hopeful that this is going on.
• 23:23
  But the, the very, you know, hardcore tinfoil hat wearing
• 23:27
  bitcoiner in me is like, did they just say they're going to
• 23:30
  confiscate our Bitcoin? This is why you need to self
• 23:33
  custody your Bitcoin. This is why we constantly talk
• 23:36
  about. This.
• 23:37
  You know, being paranoid on on this factor, it it's it's
• 23:41
  totally, totally like what you should be doing and let's see,
• 23:44
  OK, I love what. Economic Cigna said using tariff
• 23:48
  revenue is budget neutral. They're stocking.
• 23:51
  This is deflection. I completely agree with that.
• 23:53
  There are so many other moves that this administration has
• 23:56
  done that have been generating income here in a way that, you
• 24:01
  know, could only be beneficial to put into Bitcoin.
• 24:05
  And that was also a really good point, Terence, that they they
• 24:08
  can be confiscating. This happens every single day,
• 24:12
  whether we like it or not. You know, we all disagree with
• 24:16
  civil forfeiture, but it happens every single day.
• 24:19
  And these are ways that, you know, Bitcoin can be accumulated
• 24:24
  by the US government. And to be honest, I would rather
• 24:26
  have that as a country than, you know, it's stay in cash where
• 24:32
  it's just literally going to lose more value than than, you
• 24:35
  know, anything else. Yeah, well, maybe it's just
• 24:40
  'cause I don't have much faith in government.
• 24:44
  I'm like the what? What did they ever do right now?
• 24:47
  I know I I see AV for vendetta, our boy over at a Bitcoin way.
• 24:51
  He's like the US just rug pulled everyone on Bitcoin.
• 24:55
  Maybe I'm falling into wanting to believe the bad stuff, just
• 24:59
  like, let's get the fight over with, you know, let's, let's
• 25:01
  just know what's going on. Let's get some clarity on where
• 25:04
  we are right now. You know, maybe I was getting a
• 25:06
  little a little icky with oh, wait, what did it say?
• 25:10
  What that? Well, think about it.
• 25:11
  Unless everybody is done stacking and they're happy with
• 25:13
  the amount they have. If the government were to
• 25:15
  announce the opposite and said, hey, we're now buying the full
• 25:18
  million that we said we would in the executive order based on
• 25:21
  where the prices would go immediately, would you guys be
• 25:24
  happy with that? I wouldn't.
• 25:26
  Yeah, I mean, I want more Bitcoin, but I also want my
• 25:28
  Bitcoin stack to grow, but not that much.
• 25:31
  You know, I just, I, I'm, I want some dopamine back, Terrence.
• 25:34
  I I I want to pump back, but I also don't want it to go up and
• 25:37
  forever right now and never come back down here so.
• 25:41
  Long time preference. Yeah, yeah.
• 25:44
  Well, we'll see about that. We'll see what's really going
• 25:46
  on. All right, guys, we have a jam
• 25:48
  packed show for you guys. I am going to sneak another news
• 25:51
  story into the numbers because Jack Dorsey did just unveil
• 25:54
  something that I think is probably the signal here.
• 25:57
  And then in the news, if you guys were on Twitter last night,
• 26:00
  you probably caught the Google saga.
• 26:02
  I'm going to cover that with you guys on today's show as well.
• 26:05
  And then in the culture, we got Terrance here and we're just
• 26:08
  going to be talking, talking about content creation.
• 26:10
  And actually, he dropped a hot take on us earlier that he
• 26:14
  believes it is easier to orange pill boomers.
• 26:17
  So we're going to talk about that later because, you know, I
• 26:19
  get a lot of Flack for talking about boomers here on the show.
• 26:22
  Anyway, before we keep going, I do want to remind you guys to
• 26:24
  smash the like button. Of course, comment on the show.
• 26:27
  Is Opti being a pessimist here or is Terrence and Sophie right?
• 26:31
  And then, of course, hit the smash or subscribe button
• 26:34
  because we drop the best content on you guys constantly.
• 26:37
  And of course, before we move on, I got to give a huge shout
• 26:39
  out to our boys over at Bitcoin. Well, go to
• 26:42
  bitcoinwell.com/simply BTC. The reason we love them is for
• 26:46
  this very reason that we are so terrified about a six 102.
• 26:49
  They can never rug pull your Bitcoin.
• 26:51
  They have never lost Bitcoin because they never hold your
• 26:54
  Bitcoin. You send them your money, send
• 26:55
  them your Fiat and they send Bitcoin directly to your cold
• 26:58
  storage. So scan the QR code right now.
• 27:01
  You have a chance to win, I believe.
• 27:02
  What is it, 11180 dollars or something like that?
• 27:07
  Three chances to win a million stats.
• 27:09
  And of course, if you're sitting on the sidelines with a, you
• 27:13
  know, burning pile of cash here, hit their OTC desk, the infinite
• 27:17
  well team, and you could smash by 50K of Bitcoin at one time.
• 27:21
  And of course, they won't just let you buy the Bitcoin.
• 27:24
  They will give you white glove service so that you know what
• 27:27
  you're doing with that Bitcoin and you never rug pull yourself.
• 27:30
  All right, let's get into the first or second news story of
• 27:33
  today's show, which I think is huge.
• 27:42
  I want to give a shout out to our partner Stamp Seed.
• 27:45
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  you to hammer your seed words into commercial grade titanium
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  plates instead of just writing them down on paper.
• 28:01
  Paper is fragile. Titanium plates are strong.
• 28:05
  Your words are actually stamped into the titanium plate with
• 28:08
  this hammer and these letter stamping tools.
• 28:11
  Once the words are in, they aren't going anywhere.
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• 28:18
  everywhere. Titanium stamp seeds will
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• 28:24
  They are also crush proof, waterproof, non corrosive and
• 28:27
  time proof. And now you can customize your
• 28:31
  titanium seed plates. You can upload your design or
• 28:34
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• 28:39
  plate, the opposite side of where the words are.
• 28:41
  Stamp your seed on Stamp seed and use promo code simply to get
• 28:46
  15% off anything on the Stamp se-ed.com store.
• 28:56
  All right, here we go. I thought Sophie was going to
• 28:58
  talk. I wanna give I wanna give a
• 29:01
  shout out to 700 concurrent viewers on our YouTube channel
• 29:07
  shout out to you guys we're about to hit 100K if you haven't
• 29:10
  yet, please smash the like button and share this video with
• 29:14
  your friends anyway, let's. And and the 100 on Rumble, let's
• 29:16
  not forget the Rumble and the, you know, I don't know, 2400
• 29:20
  plus viewers on YouTube or views on YouTube.
• 29:23
  I don't have those numbers. Yeah, yeah, you're you're
• 29:26
  getting wrecked anyways. Anyways, let's go over the
• 29:28
  numbers real quick let's go all right so current Bitcoin price
• 29:33
  is 117,660 and I don't know if you guys were watching the price
• 29:37
  last night, but it almost hit 124K it was like 123.
• 29:42
  I think the high was 360. I believe it was and then then
• 29:46
  we got dumped on and here we are we're we're back to 117.
• 29:50
  So that was fun that was fun while it lasted.
• 29:53
  You know it was it lasted for a minute that was cool anyways,
• 29:56
  the current block height is 910,000 and 42.
• 29:59
  I repeat, 910042 current market cap is 2.34 trillion and as of
• 30:06
  now we are a -5.4% decline from all time high.
• 30:11
  So that was fun. We're actually going to cover
• 30:14
  the market cap a little bit during the Google News story
• 30:17
  because I again, I have another conspiracy theory here, but
• 30:19
  that's not what we're talking about.
• 30:20
  We're going to talk about some good news here now I know we we
• 30:24
  don't really touch on Bitcoin mining on the show a lot only
• 30:28
  when there's something that's really big that comes out and I
• 30:32
  told you guys this was going to happen.
• 30:33
  I believe it was Monday when I kind of brought this up a little
• 30:36
  bit, but Jack Dorsey and block under their new company proto,
• 30:41
  they just launched a new fully American made Bitcoin miner and
• 30:47
  apparently it was huge. They just did the release like
• 30:50
  they did a video conference call earlier today before for the
• 30:54
  show at like 10:30 Eastern Time. So here's some of the breakdown
• 30:58
  of it. We have TFTC and it goes
• 31:00
  breaking blocks. Proto team announces rig, a
• 31:02
  highly durable modular Bitcoin mining machine with easily
• 31:06
  replaceable hash boards, an open source software stack and energy
• 31:10
  efficiency of up to 14.1 joules per Tera hash.
• 31:13
  A massive disruption to the mining hardware landscape.
• 31:16
  And just to confirm for you guys, this is all American made
• 31:20
  Bitcoin chips to compete with Bit Main.
• 31:22
  And there's a good quote here by Jack Dorsey because we have a
• 31:25
  very close relationship with our vendors and manufacturers and we
• 31:28
  are building in the United States.
• 31:30
  So if you aren't really familiar with the Bitcoin mining space,
• 31:33
  China has a hold on the Bitcoin mining space.
• 31:36
  They make the chips most of the big miners come out of China
• 31:40
  like ASIC micro BT or sorry Bit Main and micro BT Canon.
• 31:46
  All the ASICS come from China. Now that Jack is bringing that
• 31:50
  to America and apparently this new rig he dropped is is next
• 31:55
  level. So I have Steve Barber if you
• 31:57
  don't know Steve Barber, he's from upstream data.
• 32:00
  This is his take on it. Again, I'm not a minor I'm I'm
• 32:02
  not as well versed in the in the intricacies of ASICS, but this
• 32:06
  is huge news. Not only bringing ASIC chip
• 32:09
  manufacturing to the US here, but it seems to be more
• 32:13
  efficient. So great job on the hardware
• 32:15
  design and here you guys can see this kind of see it here.
• 32:19
  Nice to see the supplier actually listen to feedback from
• 32:21
  the industry. Power dent, ease of maintenance,
• 32:23
  repair in mind, nice square form factor.
• 32:26
  Very well done. Hope the industry standardizes
• 32:29
  on this kind of modular design. Ridiculous to have to use
• 32:32
  different PSU fan shells for every different miner.
• 32:35
  Curious if you can share more details and if any consider for
• 32:39
  faster cheaper repair. Looks like the clamshell style
• 32:42
  heat sinks, which is good. Wonder if any new innovations
• 32:45
  here, the specs etcetera, etcetera, etcetera.
• 32:49
  But as Marty said on his Twitter, the bar for mining
• 32:52
  hardware and firmware has just been raised.
• 32:55
  This is where the signal is. So we are speculating a lot on
• 32:58
  the show, hence why I wanted to bring this on today's show.
• 33:01
  So there is some good news throughout all the crazy Opti
• 33:04
  tinfoil hat stuff going on on the show today.
• 33:07
  But this is this is a huge a huge story.
• 33:09
  So shouts out to Jack Dorsey. He's been doing some great work.
• 33:14
  Everything he's doing is great in here.
• 33:15
  I'll I'll pull this up before I pass this over to Terrence here.
• 33:19
  We can see some some kind of clips here.
• 33:21
  But Jack Dorsey was cash app square bit key proto he's doing.
• 33:27
  He's kind of making one of the best Bitcoin companies right
• 33:30
  now. We all know he was head of
• 33:33
  Twitter. You guys may or may not like
• 33:35
  what he did at Twitter. Maybe he was forced in a corner
• 33:38
  there. But now maybe this is his
• 33:40
  redemption arc just going all in on Bitcoin.
• 33:43
  We've seen him wear this Satoshi shirt everywhere.
• 33:46
  It seems like he's a true believer and putting his money
• 33:49
  where his mouth is, which I think is the biggest signal
• 33:51
  here. So I'm going to scroll through
• 33:53
  this website a little bit. And Terence, what, what's your
• 33:55
  thoughts on that? I'm not going to ask Sophie
• 33:57
  because you know, Nico was the minor here.
• 33:59
  Sophie's just like they were loud, you know?
• 34:01
  I. Think these be pretty?
• 34:04
  OK, there we go. Sophie's take.
• 34:05
  Maybe they're less loud and they're pretty so.
• 34:09
  Sophie is like it heated the house.
• 34:10
  Yeah, exactly. So, Terence, I'm sure you're
• 34:13
  following along. I know you're following along on
• 34:15
  a lot of the different controversies and debates
• 34:17
  happening right now. What is the impact of Jack
• 34:20
  Dorsey bringing ASIC chip manufacturing to the US and then
• 34:25
  also dropping such like a efficient and pretty device
• 34:28
  here? So I'm I'm going to scroll
• 34:30
  through the website. You guys could see a couple of
• 34:32
  screenshots. Hit it, Terrence.
• 34:34
  I think it's, I think it's great and it's a move in the right
• 34:36
  direction. You know, we know we need to
• 34:37
  decentralize mining, we need to decentralize the hash power for
• 34:41
  obvious reasons to keep Bitcoin a a distributed trust system for
• 34:47
  our money. We hadn't thought about the
• 34:50
  hardware for a long time and on one hand, I think, well, what
• 34:53
  does it matter? This is a chip from China.
• 34:55
  Like how how is that going to change things?
• 34:57
  But yes, we should have American made products.
• 35:00
  We should bring this sort of innovation and ability to, to, I
• 35:06
  mean, look, when we, when we have so much solar and so much
• 35:09
  wind in Texas and, and people want to get into renewables and
• 35:13
  a lot of the miners here, you know, whether it's Mara or Riot
• 35:16
  or, you know, Bitty or whatever, they're making gobs of money,
• 35:20
  especially right now. I think that I think the average
• 35:22
  that they can mine a Bitcoin right now is roughly between 60
• 35:25
  to $70,000 based on the electricity that they've set up
• 35:28
  and based on where the price is. So right now they're at a time,
• 35:31
  I mean, which is good because they often go under depending on
• 35:34
  the difficulty adjustment. But right now they're at a time
• 35:36
  where they have these lots of cash, which is great.
• 35:39
  They don't have to sell all of their Bitcoin to exchanges, But
• 35:42
  this is the kind of stuff that they should be investing in.
• 35:44
  And, and sometimes Jack, I think will will become a loss leader
• 35:48
  on things. I he, he was a loss leader at
• 35:50
  Twitter. He was a loss leader with, with
• 35:51
  square, with block, where it's like, you know what, I'm OK if
• 35:55
  I'm not going to make some money.
• 35:56
  This is the right thing to do. And we need people like that.
• 35:58
  Even Elon, even with Doge, was doing the same kind of things
• 36:00
  like, hey, look, I'm going to lose billions of dollars, but
• 36:02
  this is the right thing to do. So if we could do that and start
• 36:05
  distributing the hardware, distributing the chips and
• 36:07
  distributing the hash power, that would be amazing.
• 36:09
  At the same time, we also have the exact same risk.
• 36:12
  We also don't want America to have too much hash power or too
• 36:16
  much manufacturing 'cause, you know, that could that could be
• 36:19
  the same sort of captured container as anywhere else.
• 36:23
  Yeah, totally great, great take there really like that and and
• 36:26
  to selfies, you know, to me trolling selfie it says fanless.
• 36:30
  PS Us and less fans on here. Where?
• 36:33
  Where'd it go? The other one, Fewer fans, fewer
• 36:35
  failures. So it might be quieter.
• 36:38
  Maybe, maybe Nika's going to have to bring one over here.
• 36:41
  Yeah, she can now sing. She can record her songs without
• 36:44
  all that noise. Yeah, exactly.
• 36:46
  You feel me? The Bitcoin wife dilemma here
• 36:50
  that's cool you're making us money but that thing's kind of
• 36:53
  loud can we like not have it in the house please maybe Jack is
• 36:57
  really making this for the wives if.
• 36:58
  We if we put it in the baby's room, it might replace the white
• 37:01
  noise machine. Yeah, no, I mean, Jack makes
• 37:04
  beautiful products, right? The square is a beautiful
• 37:07
  product. The bit key, whether you think
• 37:09
  it's the right thing for you or not, is a beautiful product.
• 37:12
  So I, I, I think it's good and what's, what, what's other,
• 37:16
  what, what is also great is it helps reach the, reach the
• 37:18
  retail level. If you look at a regular ASIC
• 37:21
  minor like a, you know, what, what's a minor or whatever like
• 37:24
  that, that's not a pretty thing. Most people don't want to put
• 37:25
  that in their house. This looks kind of cool.
• 37:28
  Yeah, no, I great take and and yeah, their their design team
• 37:31
  over at block. I think it's like next to none.
• 37:34
  Everything they drop is is great like look, Cash app works really
• 37:39
  well, you know, and a lot of don't don't like to recommend
• 37:42
  Cash App, but cash App works really, really well.
• 37:45
  A lot of the like you said, the bit key looks strange.
• 37:48
  It looks like alien technology. It's built really good.
• 37:50
  Maybe you don't want that. Maybe you want a little more
• 37:53
  cypherpunk type wallet, but it's it looks beautiful.
• 37:57
  Everything that they do over there, which really is a, you
• 38:01
  know, I think people that watch the show know I love beauty on
• 38:04
  just he's so savage, but he's constantly beauty on.
• 38:07
  Yeah, he's, yeah. He's constantly been saying for
• 38:09
  a while, you know, Bitcoin hasn't really had that iPhone
• 38:12
  moment. And I think what you said,
• 38:14
  Terrence is really the key. Like Jack does think in those
• 38:17
  terms. He's like, how can I make
• 38:19
  whatever in Bitcoin that I'm working on, you know, level up
• 38:23
  to this thing. The iPhone here that is just so
• 38:26
  easy to use. It's beautiful, it's sleek, it's
• 38:29
  intuitive. And I, like you said, I think
• 38:31
  he's really doing that right now with everything that he's
• 38:34
  building. So kudos to Jack.
• 38:36
  I know the Rumble crowd doesn't like him that much, but I'm I'm
• 38:40
  I'm a huge fan. I think he's doing the great
• 38:42
  work. Blocks turning out to be one of
• 38:44
  the best Bitcoin. Companies, he's net positive.
• 38:45
  He's net positive. Two things can be true at the
• 38:47
  same time, like you can dislike some aspects of someone while
• 38:51
  also giving them props for I mean cash up.
• 38:55
  I have orange filled so many of my friends through cash up.
• 38:59
  I mean, not fully orange build them, but you know, gotten them
• 39:01
  to buy Bitcoin and ask more questions and talk about self
• 39:05
  custody and whatever. But it's he's he's definitely on
• 39:09
  the right path. Sometimes it takes, you know, a
• 39:12
  hundred tries before you find that right one and he's still on
• 39:16
  that journey. Also shout out to Mexico huddle
• 39:20
  who gave us a super chat Optian Nico.
• 39:23
  I think it would be a good idea to do a simply Bitcoin in
• 39:27
  Spanish. We should set up a meeting.
• 39:29
  You know, we've talked about that for a while.
• 39:32
  No, I, I kind of do some pushback.
• 39:34
  We're already simply Latino. I don't know how, I don't know
• 39:37
  how far we want to lean into that, but it's a good
• 39:39
  conversation. Like we will we.
• 39:42
  Believe me, we, we've we've thought about it.
• 39:44
  I actually had, I had a pretty, I had a conversation actually
• 39:48
  yesterday with my best friend cuz we were talking about making
• 39:52
  simply Bitcoin in Spanish and like going over the names, how
• 39:55
  would we translate it and stuff. So it's not.
• 39:57
  It's a conversation we're having, I guess so.
• 39:59
  All right, Mexico huddle. Wait, we.
• 40:01
  We. How do you say Bitcoin in
• 40:03
  Spanish? Simply meant a Bitcoin.
• 40:07
  There we go, There we go. All right, guys, I'm gonna keep
• 40:11
  it moving because I do have the Google saga going on.
• 40:15
  There's it's a very interesting, a new story that happened
• 40:19
  yesterday. It seems to be actually.
• 40:22
  Let's just get into it and we'll chat about it.
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  15% off anything on the store. All right guys.
• 42:17
  So this is where the saga starts.
• 42:20
  And the interesting part about this is right when this news
• 42:24
  story dropped, Bitcoin had just passed Google as the 5th largest
• 42:29
  market cap. It's not there.
• 42:30
  Now, if you guys want a fresh update here, we're currently at
• 42:34
  7th because we dropped a little bit.
• 42:37
  But last night when this news story did hit, we were above
• 42:41
  Google as the 5th largest asset by market cap.
• 42:45
  I think it was like 2.48 or something was the market cap.
• 42:49
  We went up to like one 23360 or 600 or something like that.
• 42:53
  So for a brief moment we did jump over Google as the 5th
• 42:58
  largest asset in the world and then at that literal basically
• 43:03
  it felt like to me last night when I saw that we had jumped
• 43:06
  Google as the 5th largest largest asset by market cap.
• 43:09
  This news dropped on Twitter and this is the rage again.
• 43:13
  You know, there is some irony that that the tweet that the
• 43:16
  Lola leads companies called the rage because everyone did go
• 43:20
  full rage last night, but she dropped this and it was new
• 43:23
  Google Play store policy forces AML KYC on non custodial wallets
• 43:28
  in the US effectively banned non custodial wallet developers from
• 43:32
  pay store in EU. And so going down the saga,
• 43:36
  here's her personal account talking about this here.
• 43:39
  Let me pull this up so you guys can read this.
• 43:41
  After regulation by prosecution, here comes regulation by
• 43:45
  monopoly. Google Play store is banning all
• 43:47
  non custodial wallets whose developers do not have a FinCEN
• 43:50
  registration, state banking license or Mika license.
• 43:54
  This means that in the US, all non custodial wallets on the
• 43:57
  Play store, we'll have to employ AML and KYC, which would have
• 44:01
  been absolutely horrible here. It would have that would have
• 44:04
  been a big, Big L for for us as self custody advocates, but also
• 44:09
  for Google in general and probably for adoption of Bitcoin
• 44:12
  at large. It would have been a lot harder
• 44:14
  for us to just get, you know, hot wallets, phone wallets so
• 44:17
  that we can take our Bitcoin and control our own money.
• 44:20
  And she goes sounds bad. In the EU it's even worse.
• 44:24
  Mika licenses are not issued to services as simple as non
• 44:28
  custodial wallets, effectively banning non custodial wallet
• 44:31
  developers from the Play store in the EU.
• 44:33
  As with all dumb AML ideas, it's of course the FATF fat BA that
• 44:38
  opened the door to this nonsense, claiming that even
• 44:41
  more or even non custodial slash decentralized software could
• 44:45
  have some element of control over funds.
• 44:48
  The DOJ tried to enforce this quagmire with Samurai and
• 44:51
  Tornado Cash, and now we're seeing the largest App Store in
• 44:54
  the world enforce it on its own. And of course, she's been very
• 44:58
  critical of the Trump administration.
• 45:00
  She goes, are you tired of winning yet?
• 45:02
  So here you go, the United States.
• 45:04
  It goes, here's the blur before. So the developer must be either
• 45:09
  a registered with Vincent as a money services businesses and
• 45:12
  with a state as a money transmitter or be a federal or
• 45:15
  state Chartered Bank entity. And in the EU, the developer
• 45:19
  must be authorized as a crypto asset service provider under the
• 45:22
  Markets and Crypto Assets, AKA Mika regulation by a relevant
• 45:26
  national competent authority. Any other local legal
• 45:29
  requirements, including any national level restrictions or
• 45:32
  requirements beyond Mika must also be complied with.
• 45:35
  Now here's like the initial reaction of all the Bitcoiners
• 45:39
  when this came out. Stephan Libera.
• 45:41
  This is really bad for self custodial Bitcoin apps.
• 45:43
  Many self custodial wallet developers would not be able to
• 45:47
  comply with these regulations. Pretty big loss on the self
• 45:50
  sovereignty and privacy side of things.
• 45:52
  And this is what we've kind of been seeing with the Tornado
• 45:54
  video cash and the Samurai wallet case.
• 45:57
  Like, yes, maybe we are seeing a more friendly US administration,
• 46:04
  but it also seems like we are on a new front right now.
• 46:07
  And the war is not so much about them accepting Bitcoin, but the
• 46:12
  war is on privacy. And we know they're embracing
• 46:14
  stable coins. And so that maybe this is, you
• 46:17
  know, maybe this wasn't an accident.
• 46:21
  Maybe this is them actually trying to, you know, see what
• 46:24
  they can can get away with. Anyways, Stefan Lavarica
• 46:27
  Bitcoiners will probably have to open up their wallets and
• 46:29
  contribute to a lawsuit or massive lobbying effort to fix
• 46:32
  this hump somehow. And then again, Francis, of
• 46:35
  course, bull Bitcoin in Canada, he goes literally none of them
• 46:38
  would be able to comply even if they wanted to, which is
• 46:40
  outrageous. This is effectively a Google ban
• 46:43
  on self custody. My hunch is that it will get
• 46:46
  reversed or amended because it's so outright insane.
• 46:49
  And I don't rule out it having been a communications mistake.
• 46:52
  And Peter Todd goes, most likely it's in an an intentional trial
• 46:56
  balloon that will go through if we don't raise hell.
• 46:59
  And this is where I think we kind of got AW here.
• 47:04
  Overreacting was the right approach because Jack tweeted
• 47:08
  this and I think this was the first response He saw this and
• 47:10
  goes terrible. And then we got news from
• 47:13
  Google, the official Twitter account for Google and it goes,
• 47:16
  thanks for flagging this. Non custodial wallets are not in
• 47:19
  scope of Google plays cryptocurrency exchanges and
• 47:22
  software wallets policy. We are we're updating the help
• 47:25
  center to make this clear. Lola coming back to Yeah, coming
• 47:32
  back to clear things up here. This was the saga for about, I
• 47:35
  don't know, few hours on Twitter last night.
• 47:37
  Google has changed its Play Store policy in response to our
• 47:40
  reporting. Here's why this is a big deal
• 47:42
  for developers. Since our story yesterday,
• 47:44
  several people reached out to me about Google Play Store
• 47:47
  delisting non custodial wallets well before the policy in
• 47:50
  question came into effect into July, asking for local licenses
• 47:54
  under what was previously known as their blockchain based
• 47:57
  content policy. One of these wallets was
• 47:59
  Electrum Wallet, who thankfully documented their ordeal with the
• 48:02
  Google Play Store publicly. It seems that as soon as a local
• 48:06
  jurisdiction codified licensing requirements for software
• 48:09
  wallets, Google wanted to see that the developers obtained
• 48:12
  said license, making no distinction between custodial
• 48:15
  and non custodial wallets. If no license was provided, it
• 48:18
  appears that Google autoban flag wallets for policy violations,
• 48:22
  leaving it up to the developers to prove that they did not need
• 48:24
  it license under local laws. In the case of Electrum Wallet,
• 48:27
  getting their wallet back into the Play Store took over 100
• 48:29
  days. That's 100 days in which no new
• 48:32
  installs were possible, while existing users weren't able to
• 48:35
  pull updates. A big deal seeing how some
• 48:37
  updates push critical security fixes by fixing their newest
• 48:40
  policy to now specifically exempt non custodial wallets.
• 48:43
  Non custodial wallet developers will no longer have to prove
• 48:46
  that they don't need a license if they are flagged, but can
• 48:48
  simply point to the fact that there are a non custodial
• 48:52
  application referencing Google's own policy and she goes kicker.
• 48:56
  Never thought I'd say this but thank you Google for fixing this
• 48:59
  and thanks to everyone who helped raise hell to make it
• 49:02
  happen. So.
• 49:03
  I told you there was a side of the country that does not
• 49:07
  believe in Bitcoin and does not like self custody.
• 49:10
  For all we know, this could have been somebody inside of Google
• 49:13
  who, you know, decided to change this and go rogue.
• 49:17
  Or Google themselves are testing how far they can push the
• 49:22
  hornet's nest. They want to see what the
• 49:25
  reaction from the community is going to be if they did
• 49:29
  implement something like this, even though they know because
• 49:32
  they they are like the biggest tech company in the world, that
• 49:37
  this is something that cannot be stopped even if they wanted to.
• 49:41
  People will jump ship and get on another device, either on a
• 49:47
  computer, on whatever they have to do to be able to maintain
• 49:51
  self custody. People are not going to go back
• 49:54
  and they're not. And just because Google says,
• 49:56
  oh, we're going to make it harder for normies to do it.
• 49:59
  Too late for all the Bitcoiners who have already opened their
• 50:03
  eyes and been orange pilled. Yeah, I mean, Sophie, you said
• 50:08
  something that reminded me of Google's model of, you know,
• 50:11
  don't be evil. Well, it seems like they got
• 50:14
  their hand caught in the cookie jar here and you know.
• 50:18
  I think, I think we crossed the Rubicon a long yeah, they
• 50:21
  started getting paid by political parties to censor
• 50:25
  information and put certain things out there.
• 50:28
  OK, Bass, super Bass here, but yeah, it to my my kind of take
• 50:33
  is, is kind of what Sophie said, like I think they tried to push
• 50:36
  something past everyone, see what they could get away with
• 50:38
  and then everyone freaking out about it.
• 50:40
  They had to really, really change quickly.
• 50:43
  And I I think it's probably because Jack was the one that
• 50:46
  tweet I know about blue wallet tweeted about this.
• 50:49
  They did the same kind of boilerplate response here.
• 50:52
  But if this went unnoticed, it would have been really bad for
• 50:55
  self custody non custodial wallets in the USEU worldwide in
• 50:59
  general. So interesting stuff coming out
• 51:02
  of Google. Terrence, what's your thought on
• 51:05
  this? And then I do have one more
• 51:07
  interesting Google News story, which I think all of this
• 51:09
  compared combined together, you're like, what is, what are
• 51:12
  they? Doing here, they got dethroned
• 51:15
  in their market cap and took it personally.
• 51:19
  That's. Hilarious, that's what that was
• 51:22
  my tweet and I guys, I did some numbers yesterday.
• 51:24
  OK, that was the tweet though. Anyways, Terrence, what's your
• 51:26
  thoughts on this? Well, I mean, maybe.
• 51:30
  They do it by by on purpose. I mean, maybe Google realized
• 51:35
  that you can't regulate the secrets in my head in your head
• 51:40
  and all of Bitcoin wallet holds is secrets.
• 51:44
  You know, Bitcoin wallets don't hold any dollars.
• 51:46
  They don't even hold any Bitcoin.
• 51:48
  They just hold secrets. And so going down that road is
• 51:51
  just a very bad road and it's a bad Rd. for a company that wants
• 51:54
  to be viewed as as an innovator and wants to be viewed as
• 51:58
  something for the people. I mean, they originally that
• 52:00
  that's what they were, right? Even though they are one of the
• 52:02
  mag 7 big companies out there, like I still want to believe
• 52:06
  that they they want to try to do the right thing.
• 52:09
  And it's possible that a lot of these people just aren't
• 52:11
  educated and they don't know. There's even quote UN quote
• 52:13
  bitcoiners out there that still don't fully self custody or
• 52:16
  don't understand. But it's impossible to own
• 52:18
  Bitcoin if you don't self custody.
• 52:20
  If you don't self custody, you don't have Bitcoin.
• 52:22
  That's the only way Bitcoin works.
• 52:24
  You have to have you have to hold your keys.
• 52:28
  That is ownership. Ownership of Bitcoin is
• 52:30
  possession. Yeah, 100.
• 52:32
  Percent. I mean, that is the protest.
• 52:34
  That is how you fight back against this whole idea that one
• 52:38
  institution can just centralized all of the decisions that people
• 52:43
  make on a day-to-day basis. The way to fight back is exactly
• 52:47
  what Nico says every single day on the show is to opt out of the
• 52:52
  financial system that enables them to do this.
• 52:56
  When you opt out, when you take away that power and they realize
• 53:00
  that they're caught between in a rock and a hard place and they
• 53:03
  have to somehow pivot. And that's what this was.
• 53:06
  Make no mistake about it. They got dethroned with the
• 53:09
  market cap and they decided to see how far they could push the
• 53:15
  Hornets nest. They decided to see how can,
• 53:18
  how, how hard will these people fight back?
• 53:21
  How important is self custody? And that's why it's everybody
• 53:24
  who's watching this duty to fight back as hard as you can
• 53:29
  make a lot of noise, call your representatives, make this.
• 53:33
  You know, this is kind of like a violation of antitrust if you
• 53:37
  think about it, because if you if you're saying like I'm going
• 53:40
  to monopolize the way that people custody their Bitcoin or
• 53:45
  the decisions that they make with self custody city because
• 53:48
  we're not going to allow their apps on our platforms.
• 53:52
  That is that's that is going a step way too far.
• 53:55
  I think that is wholly UN American And Google, Google
• 54:01
  needs to be checked. Their power needs to be checked.
• 54:03
  Absolutely. That would've been funny.
• 54:05
  If they're that trivial that they're like, let's knock the
• 54:07
  market cap down. Did you see that chart?
• 54:09
  Like there's some external scorecard for the for the Bros
• 54:12
  over there. That would be hilarious.
• 54:14
  Hey, look, you know me. I'm all for connecting dots that
• 54:18
  aren't there. I'm a tinfoil hat, a card member
• 54:22
  here, so I wouldn't be surprised there.
• 54:25
  But I, like I said, I did do a tweet kind of about this and I
• 54:28
  said something like, it is, it's no coincidence that when Bitcoin
• 54:32
  passes gold's market cap as the 5th largest asset that we find
• 54:37
  out that Google wants to, oh wait, sorry, I said gold and
• 54:41
  passes Google as the 5th largest market cap, that Google tries to
• 54:44
  ban self custody. It's really poetic.
• 54:46
  And then like an hour later, the price dumped.
• 54:48
  So who? Knows well and ironically I can
• 54:51
  use Google to learn about self custody so.
• 54:53
  For real. For real.
• 54:54
  Then a perfect segue, Terrence, let's get into the culture
• 54:58
  because I, I know we're going to have a good conversation here.
• 55:00
  This one's going to be fun, so we'll be right back.
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  freedom. All right guys, I forgot to
• 57:07
  bring this up real quick, so I'm going to bring it up real quick.
• 57:10
  Apparently Google took an 8%. Why is this here an 8% stake in
• 57:14
  Bitcoin miner terror Wolf yesterday as well.
• 57:17
  It's part of a $3.7 billion deal.
• 57:19
  So you know interesting stuff. I was going to mention that
• 57:23
  earlier, but whatever we. Wanted to stock on the low.
• 57:26
  Yeah, let's, let's keep it moving, Terrance.
• 57:28
  Yes, you've been doing great work, man.
• 57:31
  Let's talk about your Bitcoin journey here.
• 57:34
  I'm going to try to find a video so people can connect who you
• 57:38
  are and they've probably seen one of your videos here.
• 57:40
  Yeah, if you just. Scroll down the main profile
• 57:42
  there. I just released one yesterday.
• 57:44
  There you click into that. That's going viral about Bitcoin
• 57:48
  mining. All right, there you go.
• 57:50
  So, Terrence, you were on the show, man, years ago now.
• 57:54
  I think so, yeah, a couple of. Years ago maybe it's like 2
• 57:56
  years ago now and maybe. It was right when I released my
• 58:00
  book, so I think, yeah, just about two years ago.
• 58:02
  And you started doing these just like talking about Bitcoin on
• 58:06
  your skateboard and they've, they've gone mega viral, bro.
• 58:10
  Like how? Let's just start with how did
• 58:12
  this idea even come up? Like did you just impromptu just
• 58:16
  start skating and record a video with your iPhone?
• 58:18
  How? How'd this come about?
• 58:19
  Well, we all know, you know Eric V Stacks, right?
• 58:22
  He used to walk around his like, you know, marijuana farm or
• 58:25
  whatever and do his videos. I think he's now in Florida with
• 58:29
  Breedlove. But I just thought the first
• 58:32
  time I watched it was like, why is he walking around?
• 58:34
  Like it? It, it didn't, it made no sense.
• 58:36
  There's no reason for him to walk around.
• 58:37
  He was just talking about Bitcoin.
• 58:38
  But it was just different. And it was interesting than all
• 58:41
  of the regular content we see with, you know, people sitting
• 58:43
  behind a desk, right? Not everyone has your voice or
• 58:46
  energy that the you 2 have. So it's like a lot of them get a
• 58:48
  little stilted and, and I skateboard all the time,
• 58:52
  everyday, everywhere, all as much as I can.
• 58:55
  And it's often when I'm skateboarding that I'm thinking
• 58:57
  about Bitcoin it where I'm synthesizing all of my thoughts
• 59:00
  about it and what it means for the world and, and, and how much
• 59:03
  I want to spread the news and, you know, evangelize it.
• 59:06
  And I thought, wait a minute, maybe this would be a good way.
• 59:10
  Like it's just, there's no reason for me to be on the
• 59:12
  skateboard talking about Bitcoin.
• 59:13
  But it's just different. It's visually somewhat
• 59:15
  interesting. And so I just started doing it
• 59:17
  and that's it. And I'm, you know, probably
• 59:18
  saying the same thing that a lot of other people are people are
• 59:21
  saying, but I'm saying it in my way.
• 59:22
  And then, you know, bringing in some of my Hollywood experience,
• 59:26
  I'm adding lots of cinematic music and graphics.
• 59:28
  And you know, I I edit the hell out of it just 'cause I have
• 59:31
  fun. You know, there was this guy a
• 59:35
  couple of years ago on Twitter, and it's funny because I'm
• 59:37
  having a very Fleetwood Mac coated.
• 59:41
  More, yeah. There was this guy who became
• 59:44
  super viral for drinking cranberry juice and
• 59:48
  skateboarding down to yeah, in the background.
• 59:51
  You're literally like that guy but evangelizing Bitcoin, which
• 59:55
  is super cool and I would say adding a lot more value to this
• 59:58
  world than, you know, a guy drinking cranberry juice.
• 1:00:01
  That was a banger video. Though it was a banger video.
• 1:00:03
  It's really more because of Fleetwood with Mac.
• 1:00:05
  But anyways, that that's a totally different rabbit hole
• 1:00:08
  here, Terence. I do like I said, we had a good
• 1:00:11
  segue here about self custody and I'm getting yelled at here
• 1:00:14
  in the chats. Like you guys always say to self
• 1:00:16
  custody, you never talk about how to self custody.
• 1:00:18
  Guys, we've done whole shows on this.
• 1:00:20
  We we constantly do it. So I've done it.
• 1:00:24
  I used to do it like. That you don't watch everything.
• 1:00:27
  Yeah, exactly. I used to do this like every
• 1:00:29
  like two or three weeks I would come back and do basically the
• 1:00:33
  same thing. So I'm glad Terence is here
• 1:00:36
  because I won't have to do it. Terrence could maybe run through
• 1:00:39
  it. So maybe start with the
• 1:00:40
  importance of self custody and absolutely tips to the people
• 1:00:44
  out there. Yeah.
• 1:00:45
  So it's important to step back with first principles and just
• 1:00:48
  understand that, you know, Bitcoin, all 21 million Bitcoin
• 1:00:52
  live on the time chain. It doesn't move.
• 1:00:54
  It's all sitting there, right. So really when we say self
• 1:00:58
  custody, we're all we're doing is we just need to have the keys
• 1:01:02
  that control the Bitcoin so that we can identify where ours is
• 1:01:06
  and how we can reassign that value to someone else.
• 1:01:10
  That's it. And so when you think of those
• 1:01:12
  terms, if we don't have the keys to reassign that value on that
• 1:01:16
  big 21 million brick wall that is cemented, will never grow,
• 1:01:20
  will never crumble, then someone else is doing it for us and
• 1:01:23
  they're just giving us a Ledger. And it violates the whole ethos
• 1:01:27
  of why Satoshi gave us Bitcoin in the 1st place, which was to
• 1:01:31
  have a peer-to-peer money without the need to trust a
• 1:01:35
  financial institution. And that's important for us to
• 1:01:37
  think about. So all these little devices we
• 1:01:41
  always talk about, you know, a treasure, a bit box, a jade,
• 1:01:44
  whatever, they all do the same thing.
• 1:01:46
  They're cheap little random generators.
• 1:01:49
  That's the first thing that they do.
• 1:01:51
  All they do is they give true entropy because when you think
• 1:01:54
  you want to come up with your own words or you want to come up
• 1:01:56
  with a song, we're terrible at that.
• 1:01:58
  We have biases. So you need somehow to have true
• 1:02:00
  entropy. Now, if you want to be totally
• 1:02:02
  based, yes, you can look at lava lamps, you can flip coins, you
• 1:02:05
  can roll dice. But these devices are really
• 1:02:08
  fantastic. They're great.
• 1:02:09
  They're connected from the Internet and you can just pick
• 1:02:12
  words, one from all 2048 words. You know, in 2013, we came up
• 1:02:16
  with this BIP 39 word list, which made it a lot easier
• 1:02:19
  because before that, rather than having 12 simple words, we had
• 1:02:23
  to remember 128 ones and zeros or actually technically 132
• 1:02:27
  because of the checksum and 256 ones and zeros.
• 1:02:31
  Well, that's terrible and you can make mistakes.
• 1:02:33
  I've done that. I have stamped before 132 ones
• 1:02:37
  and zeros on metal and I've made a mistake.
• 1:02:39
  I've gone back to reconfigure that wall and it's like 110
• 1:02:43
  should have been a 1. So This is why we have the
• 1:02:45
  words. Once you come up with the words,
• 1:02:47
  those words create a master seed word.
• 1:02:50
  You have one master seed word and that's it.
• 1:02:52
  Those are those 12 words. So anything that happens
• 1:02:54
  downstream, it doesn't matter. You can lose all your devices.
• 1:02:57
  It doesn't matter those 12 words.
• 1:02:59
  You just buy any one of 20 different devices anywhere in
• 1:03:02
  the world. There it is.
• 1:03:03
  Boom, you punch in your words, you have that master seed.
• 1:03:06
  Why is that master seed important?
• 1:03:08
  Because that master seed creates your private key and your public
• 1:03:11
  key. The private key is just your
• 1:03:14
  secret. That's your secret that you
• 1:03:16
  don't give to anyone else. That allows you to reassign that
• 1:03:19
  Bitcoin on that big 21 million brick wall.
• 1:03:22
  The public one just creates infinite addresses, slightly
• 1:03:26
  over 4.6 billion to be exact. But you get all these addresses,
• 1:03:29
  more than you could ever create if you were creating hundreds of
• 1:03:31
  addresses every single day your entire life.
• 1:03:33
  And that's what you want because you don't want to reuse the same
• 1:03:35
  address. But that's it.
• 1:03:36
  That's all self custody is. So, you know, similar to e-mail.
• 1:03:40
  I don't want someone to have my SMPT secret password when I'm
• 1:03:44
  sending e-mail. I don't want someone to send my
• 1:03:45
  e-mail pretending they're me. But I want to be able to give my
• 1:03:48
  address to people to send me and that's it.
• 1:03:50
  And that's how simple self custody is.
• 1:03:52
  So you want to get one of these devices because you need
• 1:03:54
  entropy. You need to create those 12 or
• 1:03:57
  24 words. And two, you need your digital
• 1:03:59
  signature. Those 12 words prove it's you,
• 1:04:02
  your digital signature to send without revealing your 12 words,
• 1:04:06
  without, you know, sending your 12 words anywhere on the
• 1:04:08
  Internet. You never input your words
• 1:04:10
  anywhere. No manufacturer needs your
• 1:04:12
  words, Treasurer Ledger. They don't need your words.
• 1:04:15
  You don't need to input your words to update anything.
• 1:04:17
  Those words are your secret. And if you can keep a secret,
• 1:04:20
  you can keep Bitcoin. If you can't keep a secret, you
• 1:04:23
  should not have Bitcoin. That's it.
• 1:04:26
  I love it. No, hold on, hold on.
• 1:04:31
  That was. That was awesome here.
• 1:04:32
  I've never heard anyone explain it that simply, and I love when
• 1:04:37
  we have guests who can explain something that, you know, I've
• 1:04:41
  always found a little bit complicated in a very simple way
• 1:04:45
  because I think the more easy to digest these topics are, the
• 1:04:50
  more incentivized people are to actually do self custody and not
• 1:04:55
  just learn about it. Because now you've just made the
• 1:04:57
  learning part so much easier. So thank you for that.
• 1:05:00
  I I learned something new I didn't.
• 1:05:02
  I couldn't understand it as simple as you just explained it.
• 1:05:05
  Well, it says simply Bitcoin, so I figured I'll explain it in a
• 1:05:08
  simple way because. That was beautiful.
• 1:05:10
  That was beautiful. Yeah, the base retard way gets a
• 1:05:12
  little complicated, but yeah, if people are interested they can
• 1:05:15
  go to the highlights tab on my My Ex profile.
• 1:05:18
  I mean, I have dozens of videos, but I have one called 12 Words
• 1:05:22
  and people I've sent that to complete noobs, brand new people
• 1:05:25
  never heard of Bitcoin, have watched that and it explains
• 1:05:28
  exactly how it works. And you can set up your wallet
• 1:05:31
  immediately, you know, whether it's single sig or multi sig.
• 1:05:33
  And I do, I do constantly promote sync multi sig 'cause I
• 1:05:39
  think multi sig is the best, best way to yeah, keep scrolling
• 1:05:42
  down there. Yeah, it's all real estate
• 1:05:44
  inflation. Bitcoiners are crazy.
• 1:05:45
  Next one, coiners. Are crazy but I love that.
• 1:05:49
  One. There we go. 12 words, that one.
• 1:05:53
  I'll drop it in the chat. I'll drop it in the chat.
• 1:05:54
  For everyone, Yeah, yeah. When people DM me or I get new
• 1:05:58
  clients that want to learn, you know, before I send them into
• 1:06:01
  deep down the rabbit hole, I say just watch this.
• 1:06:03
  And then they go, Oh my God, I totally get it.
• 1:06:05
  And they immediately want to do self custody.
• 1:06:07
  They immediately want to get off Gemini or Coinbase.
• 1:06:09
  And because that's really my mission.
• 1:06:10
  My mission is to get people's bitcoins off exchanges and into
• 1:06:14
  self custody. And you don't have to pay me.
• 1:06:16
  I will tell you 100% how to do that 100% for free.
• 1:06:19
  You can pay me if you want me to be a key agent because that's
• 1:06:21
  what I do over the Bitcoin advisor.
• 1:06:23
  I will hold one of the three keys if you don't feel
• 1:06:26
  comfortable holding all the keys, but if you do hold them
• 1:06:29
  open source free, you don't. You don't need me.
• 1:06:31
  Awesome, dude. Yeah, that's great.
• 1:06:33
  So guys, check it out on Twitter.
• 1:06:35
  And then I do want to kind of pivot a little bit like you.
• 1:06:38
  You are talking about self custody and I'm notorious on the
• 1:06:42
  show for for giving boomers a lot of shit on the show.
• 1:06:45
  And you're like, I give them shit too.
• 1:06:47
  But you did say something interesting earlier and you're
• 1:06:49
  like orange orange peeling boomers is is the easiest ones
• 1:06:53
  to orange pills. So what you mean by that?
• 1:06:56
  So a lot of so a lot of boomers, first of all, they've been
• 1:06:59
  through a number of crises, right?
• 1:07:01
  That only, you know, we all went through COVID and that really
• 1:07:04
  opened up our eyes. And, you know, some people were
• 1:07:06
  fortunate enough to understand what happened to the great
• 1:07:08
  financial crisis or maybe with their parents.
• 1:07:10
  Boomers have been through several crises They went
• 1:07:13
  through, you know the, the well, they've just, they've been
• 1:07:17
  through lots of crises and as well they, they start to become
• 1:07:21
  more skeptical. They start to become more
• 1:07:23
  conservative. They start to not trust the
• 1:07:25
  politicians. They, they also are very aware
• 1:07:28
  of inflation. You don't have to explain
• 1:07:30
  inflation to them. They're like, yeah, I remember
• 1:07:32
  when a beer cost $1.50 or whatever.
• 1:07:34
  So one, they get it when you start to explain to them the
• 1:07:38
  solution, right? Like a lot of young people don't
• 1:07:40
  see the problem. Many of us see the problem.
• 1:07:44
  Many people that we're talking to do, but a lot of others
• 1:07:46
  don't. They're too distracted by
• 1:07:49
  Instagram and TikTok and they're told that this is a, you know,
• 1:07:52
  desire based economy and you're not good enough, you're not
• 1:07:55
  smart enough, you're not pretty enough.
• 1:07:56
  You need this product, you need to join this service, you need
• 1:07:59
  to hustle, you need to grind, you need to do that.
• 1:08:01
  And they fall into that. The boomers didn't know that.
• 1:08:04
  The boomers were like, oh, I'm going to just get my one career.
• 1:08:08
  I'm going to make enough money. I can now have a picket fence.
• 1:08:11
  I can take 3 vacations a year, have 4 kids.
• 1:08:13
  I mean, right. You look at The Simpsons, right?
• 1:08:15
  The Simpsons are the boomers, right?
• 1:08:17
  I don't even think Homer's very good at the nuclear plant.
• 1:08:19
  But they can go do whatever they want.
• 1:08:20
  He's not even working half the time.
• 1:08:22
  And it's like these boomers grew up with like, Bugs Bunny
• 1:08:24
  cartoons, right? Like, hi, I'm Elmer J Fudd.
• 1:08:26
  I'm a millionaire. I own a mansion and a yacht.
• 1:08:28
  Well, tell me a millionaire out there who can own a mansion and
• 1:08:31
  a yacht. We just know a million is
• 1:08:33
  nothing nowadays. Right now it's a billion.
• 1:08:35
  And so when boomers were kids, they didn't even know the word
• 1:08:37
  trillion was was a word. So now you go to them, in
• 1:08:41
  addition to the fact that they they see gold and boomers are
• 1:08:45
  old enough, most of them, or they might have been kids, but
• 1:08:47
  are old enough to have to know the when we went off the gold
• 1:08:50
  standard. So they're that much closer, at
• 1:08:53
  least the ones that I'm talking to.
• 1:08:55
  So when I talk to them and I explained to them that it's
• 1:08:57
  digital gold and that's the advancement.
• 1:08:58
  They're like, Oh yeah, I used to have a fax machine.
• 1:09:01
  Now I have PDF software. That's the upgrade.
• 1:09:03
  I don't need my fax machine anymore.
• 1:09:04
  I have PDF software. Oh, yeah.
• 1:09:06
  I remember having a landline with a cord that, you know,
• 1:09:08
  strangled around my neck. I don't need that anymore.
• 1:09:09
  I have an iPhone. I have e-mail.
• 1:09:11
  I don't need snail mail. So you can go through these
• 1:09:14
  analogies with them and they're like, OK, I get it.
• 1:09:17
  And the biggest thing that they went through, of course, many
• 1:09:20
  young kids went through it too, but some were just born into it,
• 1:09:23
  is that the boomers saw the Internet.
• 1:09:25
  The boomers are like, oh, the Internet changed.
• 1:09:27
  Like they had decades or a decade or, I don't know, maybe
• 1:09:31
  I'm mixing up my ages, but they had time where the Internet
• 1:09:33
  wasn't there for them, right? Or maybe when they were in
• 1:09:36
  school, they didn't have a word processor where they had a
• 1:09:38
  typewriter. So they're that much closer to
• 1:09:42
  understanding that, oh, this is just an improvement, this is an
• 1:09:45
  upgrade. This is just a savings
• 1:09:47
  technology. And that's the way I approach it
• 1:09:49
  with boomers. I say do not think of this as an
• 1:09:50
  investment at all because an investment applies.
• 1:09:52
  You have to take risk. There's zero risk.
• 1:09:54
  One Bitcoin will always be 21 million Bitcoin because we know
• 1:09:56
  the denominator. So one Bitcoin will always be 1
• 1:09:59
  / 21 million. What is Fiat 1 divided by what,
• 1:10:01
  37 trillion 38? We don't know.
• 1:10:03
  So it's just a savings technology.
• 1:10:04
  So now you want to say, guess what?
• 1:10:05
  You've worked super hard your whole life as a boomer.
• 1:10:08
  You've already done the work. You've done your proof of work.
• 1:10:10
  You've worked as hard as you could in this debasing system
• 1:10:13
  that's diluting and devaluing you.
• 1:10:15
  Now you just want to preserve it and save it.
• 1:10:17
  Well, here it is. We have a fixed measurement.
• 1:10:19
  Here's the ruler, here's the thermometer and and nothing's
• 1:10:22
  going to be added to it. There's no new belt notches that
• 1:10:23
  are going to be added. So save in this fixed asset that
• 1:10:27
  everyone wants. And the boomers that I've talked
• 1:10:30
  to get it. They're like, that makes
• 1:10:32
  complete sense. Sign me up.
• 1:10:34
  Hold on, everyone's saying I need to do this one.
• 1:10:37
  Yeah, listen, that's cool. Motherfucking boy, that was
• 1:10:44
  great man. And and like I only thought it
• 1:10:47
  was interesting like my, my dad's a boomer and he's not,
• 1:10:50
  he's still kind of like a gold bug, silver bug.
• 1:10:53
  He you know, he knows I'm in Bitcoin.
• 1:10:56
  He's got a little Bitcoin, but he's he's not like obsessed with
• 1:10:59
  it like I am. But the IT, that wasn't a hard
• 1:11:02
  chill for me. It was more like he saw I was
• 1:11:04
  excited about it and he's like, OK, you know, I'll throw a
• 1:11:06
  little money at it. Just like it is what it is now,
• 1:11:09
  getting them to like getting my dad to be like a full blown own,
• 1:11:13
  you know, Maxi, yeah, Maxi cyberpunk, like that's not going
• 1:11:18
  to happen. But.
• 1:11:18
  Well, does your dad own bonds? I don't.
• 1:11:21
  He might have some, he might have some.
• 1:11:23
  I don't know. I haven't.
• 1:11:23
  Almost all boomers have some bonds and you know, it's like
• 1:11:26
  when I sit down with them and put it down on paper and I'm
• 1:11:28
  like, look, here's bonds that basically been losing for the
• 1:11:31
  last 10 to 15 years. Maybe you're getting 2 to 3%,
• 1:11:34
  but against inflation you're not.
• 1:11:35
  Now let's look at Bitcoin. Let's look at Bitcoin's 10 year
• 1:11:38
  kegger of 86%, 10 years, 86%, meaning on average every year
• 1:11:44
  it's been going to 86. Like you, they can't argue with
• 1:11:46
  math and a lot of boomers don't wanna argue with math.
• 1:11:49
  So it's like, okay, let's take some of these bonds and move
• 1:11:52
  them over here as well. And maybe this is slightly older
• 1:11:55
  than boomers. Maybe that's what is it called
• 1:11:56
  the silent generation or whatever.
• 1:11:57
  At a certain point, mom, dad, some of this money's let's,
• 1:12:01
  let's take a small fraction of your bonds.
• 1:12:03
  Some of that's going to probably pass to me someday, right?
• 1:12:05
  Like you're not going to need to use all of this, some of these
• 1:12:08
  bonds down here that are earning nothing, in fact losing.
• 1:12:11
  So since it's going to me, would you mind converting some of that
• 1:12:14
  to Bitcoin for me? Because that's what I would care
• 1:12:17
  about. And then just show them the math
• 1:12:19
  anyways, that's literally what I did with both my parents and I
• 1:12:23
  and I took a portion of their bonds.
• 1:12:24
  I helped them, you know, we used Unchained.
• 1:12:26
  So it's multi sig and moved it into Bitcoin.
• 1:12:28
  And now they look at it because this was several years ago and
• 1:12:30
  they're like, holy crap. It's like doubled, tripled
• 1:12:32
  they're. Like, Dang, I should have sold
• 1:12:34
  all the bond, Yeah. Well, that's what they now say.
• 1:12:36
  Yeah, I think thinking about my dad like he's very how do I say
• 1:12:41
  this anti authoritarian, like not trustworthy, got the
• 1:12:44
  government. So I think he's just like a
• 1:12:45
  hardcore gold bug. And now that I remember, I don't
• 1:12:48
  think we've had treasury upon conversations.
• 1:12:50
  He's just like, I like gold, Gold is cool.
• 1:12:53
  Anyways, you did bring up multi sig a couple of times and so I
• 1:12:55
  want to ask you for someone out here like in the chat, maybe
• 1:12:59
  they heard the self custody pitch for the first time here on
• 1:13:02
  the show 'cause they're kind of new.
• 1:13:04
  What, what would you recommend for them?
• 1:13:06
  Are you just like a zero to 1 go multi sig?
• 1:13:10
  Do you think that you know, just a single single pass phrase or
• 1:13:15
  sorry, a single seed with a pass phrase?
• 1:13:17
  Is that good enough? Like do you tailor this to
• 1:13:19
  depending on who you're talking to?
• 1:13:22
  Yeah, exactly. Like any type of financial
• 1:13:24
  product or security model, it depends who you're talking to.
• 1:13:28
  For the most part. If you're someone who can't
• 1:13:31
  sleep at night in that you think if something happens to me if I
• 1:13:34
  get run over by a bus, or if you're older, how is my Bitcoin
• 1:13:37
  going to get to those who I love?
• 1:13:39
  How's it going to get to my kids, my spouse, my girlfriend,
• 1:13:41
  whoever? If you don't know, and if you
• 1:13:44
  don't have a plan and you're worried that they won't find
• 1:13:46
  your treasure map or understand your, you know, secrets of how
• 1:13:50
  to, you know, go to Aunt Edna's barn and under the yellow
• 1:13:52
  tractor where we first kissed, you know, there's a clue.
• 1:13:55
  And then that clue gives them the words.
• 1:13:57
  If you're worried about that, multi signature solves that.
• 1:14:00
  And what people have to remember is multi signature doesn't mean
• 1:14:02
  your Bitcoin is, is going to anyone else.
• 1:14:04
  You are just distributing the security.
• 1:14:07
  And so rather than having one key to your Bitcoin house, you
• 1:14:10
  have 3 keys and only two of those keys are needed to open up
• 1:14:14
  that house. And this way you can separate
• 1:14:16
  this way. OK, now this is, this sounds
• 1:14:17
  crazy to bitcoins. I was talking to a major OG
• 1:14:19
  Bitcoin who now does this mean he couldn't believe it?
• 1:14:22
  We are separating money from the banks, right?
• 1:14:24
  But with a multi signature setup, you can have one of your
• 1:14:27
  keys. You can literally just have the
• 1:14:28
  words on a piece of paper in a bank vault and you'd be like,
• 1:14:31
  what the hell. Like we're separating Bitcoin
• 1:14:33
  from and now we're at the well, they can't do anything with one.
• 1:14:36
  A bad bank employee, an evil bank employee can't do anything
• 1:14:38
  if they find 1A termite guy who's cleaning.
• 1:14:40
  By the way, when termite companies going to banks, they
• 1:14:42
  open up every safety deposit box.
• 1:14:43
  They see everything and they they turn on all that.
• 1:14:46
  They can't do anything with one. And you can also throw a
• 1:14:48
  honeypot on there. You can throw whatever is
• 1:14:50
  significant, but not going to change your life.
• 1:14:52
  You can put 1000 bucks on that and 1000 bucks ever leaves the
• 1:14:55
  single sig version of those 12 words in the bank or that key in
• 1:14:58
  the bank. You know it's been compromised,
• 1:15:00
  but they can never do anything because what are they going to
• 1:15:03
  get? The other key that's over here
• 1:15:04
  in Australia or this key that you put in New York or whatever.
• 1:15:07
  But you separate the security of your keys and you separate the
• 1:15:10
  backups that solve so many problems.
• 1:15:12
  And the easy, easy, easy solution is to use any one of
• 1:15:15
  these collaborative custodians where you simply have a platform
• 1:15:19
  for. So for the most part, you just
• 1:15:20
  start typing in and you're going straight to Unchained or to Swan
• 1:15:24
  or to Thea or to Casa. You could use Nunchuck, you
• 1:15:27
  could use Sparrow. There's plenty of open source
• 1:15:30
  ways to do it where you have an enterprise hold a key, they have
• 1:15:33
  an enterprise key built into their software so you don't even
• 1:15:36
  see it. But when you birth your Bitcoin
• 1:15:39
  vault, a vault is just means a wallet with three keys.
• 1:15:41
  When you birth your vault, it's birthed with the software of
• 1:15:45
  that platform of Unchained. And then you have your two keys
• 1:15:48
  and you can separate your two keys.
• 1:15:49
  You can give your wife, your girlfriend one key.
• 1:15:51
  Hey, if something happens to me, you're not going to find my key.
• 1:15:54
  You have your one that you can't do anything with one, but per
• 1:15:56
  my, my will or by trust or instructions, you talk to
• 1:16:00
  Unchained and Unchained says, Oh yeah, we see he's dead.
• 1:16:03
  He didn't just go on vacation. You know, they, they, they are
• 1:16:06
  allowed up to six months to make sure that you just didn't get in
• 1:16:08
  a fight and, you know, go on a hike.
• 1:16:09
  And it's like, OK, your two keys, you can now access my
• 1:16:11
  Bitcoin. And so that solves that solves a
• 1:16:14
  lot of problems for a lot of people.
• 1:16:16
  Yeah, I mean to, let's clarify here.
• 1:16:19
  Probably give it to your wife and not your girlfriend.
• 1:16:22
  But hey, you know, do what you want to.
• 1:16:24
  Do Well, if you're a bitcoiner, you're going to get girlfriends
• 1:16:26
  here really soon, right? The end of the year.
• 1:16:28
  Here, everyone's going to have a.
• 1:16:29
  Couple girlfriends girlfriends give them to your wife or.
• 1:16:31
  Your children. And, well, you know.
• 1:16:34
  Well, you can time lock for your children.
• 1:16:36
  That's the brilliant part, right?
• 1:16:37
  You give your children keys that don't even access the Bitcoin
• 1:16:41
  until they turn a certain age because you set up the block
• 1:16:44
  number. That's the whole genius part.
• 1:16:45
  And you can do that with the multi sig.
• 1:16:47
  What if you were to lose all three keys?
• 1:16:48
  Well, you can have a time lock that Oh great, in this certain
• 1:16:51
  amount of time, this other key that we haven't even used this
• 1:16:54
  fourth key, this fifth key or this 4th, 5th, 6th new set of
• 1:16:58
  multi signature keys become valid.
• 1:17:00
  So that's just another genius way to have like a backup like,
• 1:17:04
  you know, sort of like an O shit system if you lose all three
• 1:17:07
  keys. Yeah, I think the the challenge
• 1:17:11
  here for most boomers is the technological aspect.
• 1:17:15
  And that's where people like you come in handy because then they
• 1:17:19
  don't have to think about all of that.
• 1:17:20
  They don't have to go on Sparrow.
• 1:17:22
  They don't have to like understand all of the technology
• 1:17:24
  behind it. Because I know that that was the
• 1:17:27
  big challenge with, for example, my parents and orange filling
• 1:17:30
  them. They're just like, we just don't
• 1:17:31
  understand like this is too much technology for us.
• 1:17:34
  Like I. Just it's true.
• 1:17:36
  I just call my stockbroker and tell him and what to do and they
• 1:17:40
  just like they make it happen. It's like they don't understand,
• 1:17:43
  you know, the how complicated this can all get.
• 1:17:46
  I mean, we're going to laugh in the in the future, right,
• 1:17:49
  because we're sort of at that period now where like when the
• 1:17:51
  Internet first started and we're all like running our own servers
• 1:17:54
  and doing dial up and HTML, you know, and it's like they they
• 1:17:59
  won't need to do that. So you're totally, totally
• 1:18:01
  right, Sophie. You know, we're just, we're
• 1:18:02
  learning all of this tech, which is.
• 1:18:04
  Yeah, we're we're all learning together.
• 1:18:06
  And I think that a lot of like the criticism, at least for like
• 1:18:10
  from us like to boomers or whatever isn't so much that they
• 1:18:13
  won't be orange peeled. I get it.
• 1:18:15
  I completely agree with you. They understand it very quickly
• 1:18:18
  because of all the adversity and the wisdom that they've gained
• 1:18:21
  throughout the years. I think we're where people like
• 1:18:25
  us from our generation get frustrated is A, you know, this
• 1:18:29
  is the generation that created most of the problems and B,
• 1:18:33
  they're not all in the way that we want them to be all in.
• 1:18:37
  I mean, look at us complaining about Scott Besson, like doing
• 1:18:40
  this, like little bit of FUD, like while, you know, the, the
• 1:18:43
  administration is making all these moves to actually further
• 1:18:47
  Bitcoin and, and you know, we're always going to complain like
• 1:18:50
  that's like the, the dark side of our generation, our
• 1:18:53
  generation, we are complainers. We're it's never going to be
• 1:18:57
  good enough until we reach our actual goal of 100% hyper
• 1:19:01
  bitcoinization and we got our way fully.
• 1:19:04
  But that's not the way the world works.
• 1:19:06
  And so it's really great that, again, people like you exist to
• 1:19:10
  kind of further the conversation and be the liaison between the
• 1:19:15
  two very stubborn generations who, you know, want one thing to
• 1:19:22
  happen but can't seem to always get their way.
• 1:19:26
  Yeah, Anthony Jones says Sophie is always right.
• 1:19:28
  So I. You know, it's hard.
• 1:19:33
  It's hard having such a low IQ and being on the show next to
• 1:19:36
  Sophie. But anyways, Terrence, I do want
• 1:19:39
  to hit one more topic that I know you said you wanted to hit
• 1:19:43
  on. It is kind of going to connect
• 1:19:45
  all the dots here. And it is the idea of retiring
• 1:19:49
  on your Bitcoin. And I know you're like, I got, I
• 1:19:52
  can hit on this and I'm like, we used to touch on this like every
• 1:19:55
  single day. It wasn't every day.
• 1:19:57
  It was every like couple of weeks.
• 1:19:59
  And Nico is getting lazy on me here.
• 1:20:01
  But what is your idea on, you know, retiring on your Bitcoin?
• 1:20:05
  I mean, we just saw this week or was this last week?
• 1:20:08
  I think it was last week actually, Trump kind of
• 1:20:10
  announced that he will allow Bitcoin into people's 401K.
• 1:20:13
  So this idea is getting across. It's not just for us, you know,
• 1:20:16
  savage hardcore Bitcoiners. This is, I think becoming like a
• 1:20:20
  mainstream conversation right now is actually retire on
• 1:20:23
  Bitcoin. Like is this smart to do?
• 1:20:25
  You know, how long am I going to?
• 1:20:27
  Wait like how much do I need to own to retire on Bitcoin?
• 1:20:30
  So what's your thoughts on this? Yeah.
• 1:20:32
  Well, so first of all, related to that, to the four O 1K thing,
• 1:20:35
  like so already people can own Bitcoin in their retirement.
• 1:20:39
  That has been available. It just hasn't been easy.
• 1:20:41
  And now it's going to be easy for like the plan providers if
• 1:20:44
  you have an employer with A4O1K to do that.
• 1:20:46
  But like already today, if you have a Roth IRA, if you have a
• 1:20:49
  Traditional IRA, you can own Bitcoin in those and you can
• 1:20:55
  hold the keys to it. That's another key, right?
• 1:20:57
  Like I, I don't work for Unchained, but like Unchained,
• 1:21:00
  you can hold your own key and you can have a Roth or a
• 1:21:03
  Traditional IRA. So I have a lot of clients that
• 1:21:05
  go into that, a lot of boomers that go into that as far as
• 1:21:08
  retiring. So I have a couple thoughts.
• 1:21:09
  Like on one hand, it's like, you know, you have to do the proof
• 1:21:12
  of work first of all to be able to get Bitcoin in the 1st place.
• 1:21:15
  And so it's like a lot of going back to the boomer conversation,
• 1:21:19
  a lot of people that aren't sure if they could retire yet, maybe
• 1:21:23
  they're getting close or maybe they thought, oh, I can't retire
• 1:21:26
  for another 10 years. If they've been working hard and
• 1:21:28
  they've been here for at least an epoch, you know, preferably 2
• 1:21:31
  epochs through Bitcoin, they can now competently with Bitcoin if
• 1:21:35
  they've been stacking during those two epochs, say, you know
• 1:21:39
  what, I can finally say it like, yeah, I can retire.
• 1:21:42
  Like I wasn't sure if I could retire, but now I can because
• 1:21:44
  people in the Fiat land and they go to these, you know, wealth
• 1:21:47
  managers and these registered investment advisors.
• 1:21:50
  And they're like, Oh, well, you know, if you withdraw 4% of your
• 1:21:52
  dollars per year and we're going up this much amount in the stock
• 1:21:55
  market, that doesn't work. Those models are broken because
• 1:21:59
  of inflation. Inflation just decimates and
• 1:22:02
  completely distorts all of those models.
• 1:22:05
  And so people that are living on a Fiat standard, they don't
• 1:22:08
  think that they can ever retire. And, and in many ways, they can.
• 1:22:11
  He's like, why do you go to like Home Depot and Walmart and, you
• 1:22:14
  know, just see these people that are like, you know, 87 years old
• 1:22:17
  walking around the aisles trying to point where the bathrooms
• 1:22:19
  are. So it's, it's on one hand, it's
• 1:22:23
  great because people that have been getting close and wondering
• 1:22:25
  if they could retire can very confidently retire with Bitcoin
• 1:22:29
  because we, we just see the numbers.
• 1:22:30
  It's just math. Those that now want to think
• 1:22:33
  about retirement or, and or retiring early, It's kind of
• 1:22:36
  like, well, philosophically, what is retirement for you?
• 1:22:38
  Like is retirement really just saying, look, I now control my
• 1:22:41
  time. I don't have to give my time to
• 1:22:43
  anyone else. I can wake up and say what I
• 1:22:45
  want to do. I can be more selective.
• 1:22:47
  I can choose to do what I want to do.
• 1:22:48
  Hey, I can do this simply Bitcoin show rather than, you
• 1:22:51
  know, go work for some insurance company or in my case, I can go
• 1:22:53
  skateboard around the beach and make Bitcoin videos.
• 1:22:56
  It's like Bitcoin gives us that confidence because we now can
• 1:22:59
  see how much that not only we hurdle inflation, but how much
• 1:23:03
  we actually grow our wealth. But again, I go back to we have
• 1:23:06
  to provide value. We have to solve problems for
• 1:23:09
  people and some people have to still solve that in the Fiat
• 1:23:12
  world. So it's like Bitcoin, you know,
• 1:23:14
  get a more measured response Opti and it Bitcoin isn't going
• 1:23:18
  to just suddenly make you rich. You know, Bitcoin isn't a get
• 1:23:20
  rich scheme. It's it's a get rich for sure
• 1:23:25
  solution, right? I love that.
• 1:23:31
  So so we'll get there faster. And with that, we're now seeing
• 1:23:33
  the financialization of Bitcoin. And so all of these products are
• 1:23:36
  coming. The lending products, you know,
• 1:23:38
  you guys have let in, you know, collateral.
• 1:23:40
  There's going to be there's going to be credit, there's
• 1:23:41
  going to be leverage, there's going to be things people don't
• 1:23:43
  want. But we've already got credit
• 1:23:44
  cards. We've got, you know, debits,
• 1:23:46
  we've got mortgages, right? And there's home equity things,
• 1:23:48
  there's horizon, there's Savannah now we've got Milo
• 1:23:51
  mortgages. Like you can do anything on
• 1:23:54
  Bitcoin. It's all there.
• 1:23:55
  There aren't like 50 options, but they're there.
• 1:23:58
  Yeah, Yeah. And and I think as we kind of
• 1:24:01
  were saying earlier, it really does feel like Bitcoin hasn't
• 1:24:05
  fully gotten that like quote UN quote iPhone moment.
• 1:24:07
  Like we haven't found the quote UN quote killer app.
• 1:24:09
  Like we have the killer use cases of like, you know, number
• 1:24:12
  go up technology. But there's not that one thing
• 1:24:16
  here. And I don't think it's ever
• 1:24:17
  going to be like one thing per SE.
• 1:24:19
  As we're saying, there's a bunch of products coming out that are
• 1:24:22
  filling different niches and different roles here.
• 1:24:25
  But but there hasn't been something that is just like
• 1:24:27
  taking the world by storm yet. And that just goes to show like
• 1:24:31
  what Sophie said earlier, like we are still early in this
• 1:24:33
  thing. You know, Terence, you were just
• 1:24:35
  explaining like all this stuff is still new.
• 1:24:37
  We are still working through it. We still haven't gotten, you
• 1:24:40
  know, the MacBook or the iPhone or whatever, you know, you know,
• 1:24:45
  comparison you want there like all the best products we have
• 1:24:49
  right now. We'll probably look back in like
• 1:24:51
  10 years and be like, I can't believe I stored my, you know,
• 1:24:54
  life savings in that. 10 We're gonna laugh.
• 1:24:56
  We're gonna. Laugh.
• 1:24:57
  Why were we? Stamping these things and I
• 1:25:00
  don't know yeah. I don't know how that's gonna go
• 1:25:02
  away, but yeah, I. Think, I think we're probably on
• 1:25:06
  like the Nokia level. Yeah, we're playing Snake.
• 1:25:09
  We're playing Snake here. Snake.
• 1:25:11
  Perhaps approaching the it's. Predictive text.
• 1:25:14
  I gotta hit it 3 * s Yep Yep, exactly.
• 1:25:18
  Exactly. All right, Terrence.
• 1:25:19
  Well, we are at the end of the show.
• 1:25:21
  We did go. A little.
• 1:25:22
  But but I like this conversation.
• 1:25:26
  So Terrence, I do want to give you one last moment.
• 1:25:29
  What's the final thing you would like to give to the audience?
• 1:25:32
  You know, last last final words and then plug your social so
• 1:25:35
  people can find you. OK, yeah, I'm at Proof of Money
• 1:25:39
  in Bitcoin. I'm just a Bitcoin educator.
• 1:25:41
  I just want to educate. I want to teach the principles,
• 1:25:44
  the attributes and the properties of Bitcoin.
• 1:25:46
  I love talking to complete noobs and I love talking to family
• 1:25:49
  members and friends of Bitcoiners.
• 1:25:51
  If you have someone who you've been trying to orange peel,
• 1:25:53
  orange peel and hasn't been, you know, working for whatever
• 1:25:55
  reason, sometimes they just need to hear from someone else.
• 1:25:58
  I love doing that. I will show this for a second
• 1:26:00
  'cause it's done pretty well. I did write a book called Proof
• 1:26:04
  of Money. I don't keep any of the profits
• 1:26:09
  and if people can't afford the book, I will gladly buy it for
• 1:26:12
  them. Just DM me It's but I think it's
• 1:26:14
  a a great orange pulling book. That's it.
• 1:26:18
  Just reach out to me. I I I love talking to bit
• 1:26:20
  corners. Oh, I do a daily Monday through
• 1:26:22
  Friday. I do a Daily Show on spaces.
• 1:26:24
  We've got a lot of great based bitcoiners.
• 1:26:26
  In fact, I just left it to come to this Max Keiser.
• 1:26:28
  It was there today. We got Jeff Booth tomorrow, but
• 1:26:32
  I think we're competing with your time and Sophie, so I'm
• 1:26:36
  not, so I won't at. Your spaces.
• 1:26:38
  Yeah. So, you know, I don't.
• 1:26:39
  Yeah, I, I don't need to promote it, but I think we.
• 1:26:41
  Yeah. But anyways, we're there every
• 1:26:43
  morning for a couple hours. Let's go.
• 1:26:45
  Well, Terrence, it was so good to have you back on the show,
• 1:26:47
  man. Keep killing it.
• 1:26:49
  Keep making the skateboard videos.
• 1:26:51
  Keep doing the good work that you're doing.
• 1:26:53
  Really appreciate you coming on and everyone out there, guys,
• 1:26:56
  you already know the deal. Go outside, get some sun, eat
• 1:26:59
  some good food, call your loved ones, stack more sats.
• 1:27:02
  The Bitcoin is on sale right now and we'll be back tomorrow
• 1:27:06
  roughly 12:30 PM Eastern Time. All right, so we'll see you guys
• 1:27:10
  tomorrow. Much love.
• 1:27:11
  And also if you're watching the show, help us get to 100K.
• 1:27:15
  We're at what, like less than 1000 Subs on YouTube for 100K.
• 1:27:19
  We're super excited for that. On that note, I will see you
• 1:27:22
  tomorrow. I'll be back then.
• 1:27:26
  Today's episode was brought to you by bitcoinwell.com, a
• 1:27:29
  Bitcoin only platform on a mission to enable financial
• 1:27:32
  independence.