Latest / Simply Bitcoin / BREAKING: Federal Reserve to oversight Bitcoin | EP 799

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BREAKING: Federal Reserve to oversight Bitcoin | EP 799 · Simply Bitcoin

0:22
yeah. Welcome to another episode of
0:24
Simply Bitcoin Live. We're your number one source for
0:25
the peaceful Bitcoin revolution because of breaking news,
0:27
culture, medic warfare. We will be your guide through
0:29
the separation of money and state.
0:32
And make no mistake, that's exactly what we are living
0:34
through these days. It's one of those episodes that
0:37
we're going to cover just that breaking news.
0:40
Federal Reserve to expand oversight of crypto related
0:44
activities and banks. So the people that have the most
0:49
to lose if Bitcoin succeeds are, you know, apparently expanding
0:53
their oversight. No congressional approval, of
0:55
course, which I find absolutely fascinating.
0:58
And of course, this is happening a couple weeks after the Federal
1:04
Reserve launched the American version of the central bank
1:07
digital currency, which is called the Fed.
1:09
Now, of course they're saying that that's not what it is.
1:13
But we all know that's what it is, based on the
1:15
administration's language that U.S.
1:17
Treasury wrote a paper at the end of last year called The
1:21
Future of Money and Payments. And in that paper, in the eyes
1:25
of the current U.S. government, the current administration,
1:28
future of money and payments, stablecoins, payment platforms,
1:32
Bitcoin is not mentioned there. Right.
1:35
But you know what is mentioned there, central bank digital
1:37
currencies, right. So it's just, of course, you
1:39
know, they don't have the popular support, but there's
1:42
stuff happening in the background and we had Caitlin
1:44
long on on Simply Bitcoin IRL the other day and she said it
1:48
herself. She said the reason that her
1:50
bank was denied the federal banking charter, which would
1:53
make her competitive with the rest of the US banking industry,
1:57
was an order direct. From the White House, Right.
2:01
So it's not my words. That's Caitlin Long's words
2:03
herself. So very interesting how this is
2:05
playing out. And we have a very special guest
2:07
today. And who someone I consider a
2:10
brother as well. We have the one and only, the
2:12
Svetsky. How you doing, man?
2:14
How's life? All right.
2:21
Seems like Svetsky has a little bit of some technical
2:23
difficulties. I'll bring up Opti.
2:25
In the meantime, Svetsky seems like your mic is muted.
2:28
How you doing Opti? I'm doing wonderful, dude.
2:30
And and this intro gets me hype. The the intro is so lit.
2:34
How's that the daft that that's it's clutch.
2:37
It's clutch. But yeah man, exciting, exciting
2:41
stuff to see and hopefully we get Svetsky in here so that we
2:44
can we can talk with him. We were literally just talking
2:47
with him. Right, right backstage.
2:49
So you know, troubleshooting live.
2:50
But hey, we do this live, as Sessions always says, and it's
2:54
just, it's good to be here, man. I'm excited to see Nico Jones
2:58
break this all down and then we will rant about it.
3:01
So this is gonna be a good one. It's gonna be a good one.
3:03
It's gonna be a good episode. Alright guys, no more delay.
3:07
Let's jump straight into the numbers.
3:08
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4:47
Let's get to this video. Shout out also to this is Peter
4:51
McCormack, Peter Mccormack's podcast What Bitcoin Did.
4:54
Great podcast in my opinion, and a buddy of mine on there,
4:58
American Hot American Huddle has some of the best takes all.
5:01
Ways, and let's hear what we have to say, but let's see if we
5:06
have Svetsky back. Svetsky, can you hear me?
5:10
Going once, going twice, going three times.
5:13
So seems like we're still trying to get Svetsky back, but the
5:17
show must go on. Opti, let's check out this clip
5:20
while we try to get Svetsky back.
5:22
The slave system that we live in today, the Fiat system, what it
5:26
does is it extracts wealth from the future, from the unborn.
5:30
Okay. They are literally born into the
5:32
Matrix, into bondage, and we are stealing from them.
5:35
And then we're, you know, anticipating that technology or
5:38
deflation is going to solve this problem that we created by
5:41
stealing from the future. But it's a catch 22, because if
5:43
no one builds the future, then there's not going to be a
5:46
beautiful future for them to inherit.
5:48
And all they're going to inherit is debt.
5:50
So the Fiat system is extracting wealth from the unborn.
5:54
And the big idea in Bitcoin to me, and like I really do get
5:58
emotional when I think about this, is that we are gifting,
6:01
you know, wealth to the future, which is, in my opinion, like
6:06
the blockchain of humanity. And anytime you don't have that
6:09
situation where you're gifting more than you were given, you've
6:12
thrown an error. And basically, like, the chain
6:15
is being reorged, right? Like that's like the big idea
6:18
that's going on here to me is that we're reorging the chain
6:21
back to what we had. Before we lost.
6:25
Beautiful, beautiful, from American huddle, you know,
6:28
literally it was very poetic. And I agree like there, there is
6:32
a bit of emotion there. We've been like, kind of like
6:35
living in this society where that hasn't been the case for so
6:39
long and people have been brainwashed to somehow think,
6:42
you know, the money must come from the government.
6:45
And I don't know, OPT, you kind of sounded like American Huddle
6:49
said Bitcoin or slavery. That's kind of like what it
6:51
sounded like. Anyways, I want to welcome
6:53
Svetsky on the show. Svetsky, how you doing, brother?
6:57
I feel like that clip is like a perfect alley oop to you, man.
7:01
I feel like you've been writing about this.
7:03
You've been talking about this specific subject for so long and
7:07
what is is, is Fiat truly the slavery?
7:09
Is it slavery for, for the unborn?
7:11
For people that haven't even. Haven't even come out of the
7:15
womb yet. What's your take on that?
7:18
HM, how spicy am I allowed to be?
7:21
It is YouTube after all. So it is YouTube.
7:24
All right. All right.
7:28
Well, first of all, it's good to be back.
7:31
I think what I'd like to say is that I'm kind of getting beyond
7:37
all the complaining about slavery and all this sort of
7:40
stuff, kind of viewpoint. With Bitcoin, I think those
7:43
arguments have been made enough Times Now, and I'm a little bit
7:46
tired of. It's like slavery, slavery,
7:47
slavery, slavery, year, whatever.
7:50
I think what's more important is that Bitcoin is kind of building
7:55
on this theme at the moment. I'm gonna do a bunch of writing
7:57
on it later in the year. But this Bitcoin is vitalist
8:00
money. So, kind of in the Nietzschean
8:03
sense of Bitcoin is better money because.
8:09
It makes for a game in which better people win, and more than
8:14
just helping the bottom people and slavery and all this sort of
8:18
stuff, which is a good narrative.
8:21
I'm starting to become more interested in what does Bitcoin
8:24
do for those who want to for the.
8:35
To do something big in life, those who want to leave a
8:38
legacy, the texture of the domes and the cathedrals and stuff
8:41
like that, those people who really care about other stuff,
8:46
what they cared about was impacting civilization.
8:50
And I think I'm starting to ask the next question is like beyond
8:56
just slavery, like what does and?
9:05
And and that's where. Yeah.
9:10
And absolutely I I do agree with that because you know it, you
9:13
had these beautiful, beautiful architecture, right?
9:16
You see this in Europe, you see this, this, you know, this, the
9:20
Notre Dame for example, like these, these projects, these
9:24
buildings that took hundreds of years to make.
9:28
The the the people that first started building them were long
9:32
dead after they were completed. And it's that like a longterm
9:36
type of thinking. I agree.
9:37
And you've seen that Fiat penetrate into architecture.
9:41
You've seen it like the not only architecture, just goods and
9:45
serve everything. It just everything the good.
9:47
Whether it's food, medicine, buildings, anything like the
9:51
quality just keeps getting worse and worse and worse and worse.
9:54
And I think a lot of people, you know, they they blame, they
9:57
blame capitalism is one of the one of the things that I've
9:59
heard. They blame, you know, the
10:01
economic model. They blame everything and
10:04
anything but the fact that the society is, is built upon this
10:08
corrupt money and that is literally the root cause out of
10:13
anything. Svetsky, you want to follow that
10:14
up? Yeah, well, it is.
10:17
It is. It's the root functional cause.
10:19
But you know, I think I've started to believe that there's
10:21
a, there's a, there's a deeper. Values caused, that sits behind
10:26
it, which is when you want to optimize civilization for things
10:31
like equality and raising the common man up and doing all of
10:36
that sort of stuff. What you end up doing is you You
10:38
optimize civilization for the lowest common denominator.
10:41
And to do that, you know stuff like printing money seems to
10:46
make a lot of sense because you know you you can distribute
10:49
wealth to those to the have nots, right?
10:52
Whereas you know what? What we're talking about here is
10:55
like, you know, those monuments that, you know, greatness was
10:57
built by people who could think long term.
10:59
Now a function of being able to think long term is having a
11:04
lower time preference, and you can't really have a low time
11:07
preference if you can't save. So these things are, you know,
11:11
inextricably linked. But the it's not about like I
11:15
think what I want to plant in the psyche of bitcoiners now is
11:19
to. We've done a lot of thinking.
11:22
We've looked at the ground a lot.
11:24
We've looked at look at where Fiat got us.
11:26
Everything sucks. It's all crap.
11:28
It's slavery. This, this, this, this.
11:30
I want us to raise our gaze up now higher and say, okay, what
11:34
sort of greatness, what sort of excellence, what sort of
11:36
monuments can we build? And that is less about.
11:45
Yeah, it's less about making things more affordable.
11:48
Like, So what? What Fiat does is it attempts to
11:51
make Fiat cheapens everything, right?
11:53
That's why you have cheap architecture, cheap plastic
11:55
toys, cheap fucking consumerism. It's like everything's cheap,
11:58
cheap, cheap. So everything drops in quality,
12:02
but it becomes more equal because now everybody has the
12:05
same plastic crap. You know, The same, You know
12:08
there's a great meme of, like, the how cars used to be super
12:12
colorful. And now we've got like three
12:15
colors in our cars. We've got black, white and red
12:17
basically. And that's it.
12:18
So everything is becoming standardized, everything
12:19
becoming cheap, everything is becoming common, everything is
12:22
becoming equal. And that's sort of one of the
12:24
effects that Fiat has. Whereas you go the other
12:27
direction, you start to build hierarchy, you start to optimize
12:31
for excellence, you start to create differentials.
12:34
And yeah, this is the question I'm beginning to ask and I wanna
12:38
start exploring this year and next in some writing.
12:42
Yeah, there's a, you know there's there's there's there's
12:45
so many implications to a world built on a Bitcoin standard.
12:50
And I think that you know we're just we're we're like we're just
12:55
hitting the the very tip of the iceberg, so to speak.
12:58
It's very, very exciting. Anyways Opti, for the sake of
13:01
time let's go straight into the news.
13:04
But before we get, before we get to that, I want to, I want to
13:07
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today. All right, guys.
13:37
News. The Daily News.
13:44
All right guys, I also want to give a shout out to our other
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Opti. And I appreciate all the love
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We appreciate y'all. Anyways, everybody, let's get to
14:23
the breaking news of today. This is a theme and concept that
14:27
we've brought up in the past. Which is the concept that the
14:31
regulators, the people that are tasked in socalled regulating
14:35
Bitcoin, even though we know that's not possible, are also
14:38
the people that have the most to lose if Bitcoin succeeds, right?
14:44
We know how the current administration has reacted to
14:48
the Bitcoin industry. You know, the socalled Operation
14:51
Choke Point 2.0. And I suspect there's a
14:55
continuation of that. And again, like I said, in the
14:57
very big, very beginning. This is happening two or three
15:01
weeks after they launched the American version of the CBDC
15:04
which is called the Fed Now Anyway, so the name of the
15:07
article is Federal Reserve to expand oversight over Bitcoin
15:10
and Shitcoin related activities at banks.
15:13
The Federal Reserve says it will expand how it overseas the
15:15
crypto activities of US regulated banks.
15:18
The move by the US central bank falls under, quote Novel
15:22
Activity Supervised Supervision program the Federal Reserve
15:26
introduced on Tuesday. And that's interesting because
15:28
that allows them to circumvent legislation, right, Because it's
15:32
like, Oh no, this was already in the books.
15:34
This is under novel Activity supervision program, right.
15:37
And then it interesting because Custodia was denied the federal
15:42
banking charter. So, like, what are those crypto
15:44
banks? That they're referring to.
15:47
It also covers applications of distributed Ledger technology
15:51
that have the quote potential for significant impact on the
15:54
financial system. According to a published outline
15:57
of the program's aims, regulators will quote enhance
15:59
the supervision of novel activities such as quote.
16:02
Crypto asset custody Crypto collateral collateralization
16:07
lending facilitated crypto asset trend trading.
16:11
And engaging in stable coins slash dollar token issuance or
16:15
distribution, right. So it looks like they're going
16:17
after the stable coins. And again I didn't know that the
16:20
Federal Reserve was the SEC like it's just very interesting.
16:25
The program will also focus on distributed Ledger technology
16:28
and other quote, technology driven partnerships with non
16:31
banks to deliver financial services to customers.
16:34
The program is designed to ensure, the Federal Reserve said
16:37
in documents Tuesday. That state member banks will
16:40
quote place controls to conduct the activity in a safe and sound
16:45
manner. But who determines what is a
16:47
safe and sound manner? The government, you mean this is
16:50
the same government? Well, like in the US, you know
16:52
they've frozen accounts. But I'm gonna bring up the
16:54
Canadian truckers protest, right?
16:56
They were freezing accounts to people that were donating money
17:01
to the truckers. Like, it's just like the people
17:04
that are tasked with regulating Bitcoin are also the people that
17:07
have the most to lose when Bitcoin succeeds.
17:09
And then this reminds me of a passage from the sovereign
17:11
individual and that I want to get Svetsky's thoughts.
17:15
So the passage, and I've read this to you guys many times, and
17:17
I think it's very applicable to what is happening here, is new
17:21
technologies will allow the holders of wealth to bypass the
17:24
national monopolies that have issued and regulated money in
17:26
the modern period. Their importance for controlling
17:28
the world's wealth will be transcended by mathematical
17:31
algorithms that have no physical existence in the new Millennium.
17:35
Cyber money controlled by private markets will supersede
17:38
Fiat money issued by governments, goes on to say.
17:41
Lacking their custom scope to tax inflate, governments, even
17:45
in traditionally civil countries will turn nasty.
17:49
Businesses that offer services that facilitate the realization
17:52
of autonomy by individuals will be subject to infiltration,
17:56
sabotage, and disruption arbitrary for arbitrary
17:59
forfeiture of property, already commonplace in the United
18:02
States, where it occurs 5000 times a week, will become even
18:05
more pervasive. Governments will violate human
18:08
rights, censor the free flow of information, sabotage, useful
18:12
technologies and works. And I think that's exactly what
18:15
we're witnessing right now. I didn't know that the Federal
18:18
Reserve. Had the mandate, had the task to
18:22
regulate this entire industry, and I think it's because it
18:24
fears it anyways. That's my take, Svetsky.
18:30
My gut tells me. I think you might agree with me
18:33
on this one. I don't know.
18:34
What do you think? Yes.
18:36
So let's pull on the thread that we were talking about earlier
18:40
about sort of greatness next. That's right.
18:42
So people's history is. Some sort of progressive line,
18:49
maybe with some peaks and troughs along the way, right.
18:52
And the other argument for history that is more cyclical in
18:58
nature and books like The Sovereign Individual make the
19:01
case for that. And what you generally get in
19:05
periods of the cycle, the classic weak men create bad time
19:09
stage of the cycle is that. Instead of once again what we
19:13
mentioned earlier, instead of optimizing for greatness or
19:16
optimizing for quality and excellence, society starts to
19:19
optimize for equality and average and all of these sort of
19:23
lower needs on the hierarchy. And what happens is those who
19:30
end up in charge. Are actually of a more, how can
19:35
I say parasitic or lower class. They're not noble in the sense
19:38
that they want to compete because they're better.
19:42
They want to cheat in order to win.
19:46
So the Federal Reserve can't compete with Bitcoin.
19:50
Because it's just inferior like that sort of mean the other day
19:53
something about, like, you know, Satoshi wrote 30,000 lines of
19:56
code and he can bank, you know, 7.9 billion people, whereas you
20:00
know, you've got all of this other crap to, you know, can't
20:03
bank, you know, more than 2 billion people or whatever.
20:06
It was some sort of comparison there, right?
20:08
So, so Bitcoin is superior. So how does an inferior
20:13
competitor fight against Bitcoin?
20:15
Well, it performs. Regulation or you know, tries to
20:20
control the the board, right? So it can't beat the opponent in
20:24
a game of chess. So what it does is it just like
20:27
violates the rules. It's like, you know what?
20:30
Like my pieces are all now Queens and I'm gonna do whatever
20:34
the fuck I want. The problem with that is,
20:37
obviously over multiple iterations, the game breaks down
20:41
and the idiot who's continually cheating, not only do they
20:46
basically create interior progeny like every like the the
20:50
entire infrastructure that they build ends up being filled with
20:54
the mediocre, the people who can't actually compete because
20:57
they're not good, they're not better, they're not stronger,
21:00
they're not smarter, that they're basically the midwits,
21:04
the institutional, the organization of mediocrity
21:06
itself caves in on itself. And so it's kind of like it.
21:10
It defeats itself in trying to preserve itself.
21:13
And yeah, that's fundamentally what we're gonna see with
21:17
Bitcoin versus Fed. It's just we're just gonna have
21:21
to go through the mess of it because unfortunately these
21:26
things occur over a time span that it's generally longer than
21:31
what individuals are alive for. Yeah, and I completely agree,
21:37
right? It's.
21:41
It's it's a whole rethinking of the system and I think that
21:44
fundamentally it fundamentally, I agree that they're scared.
21:48
They know they can't compete. So they have to rely on these,
21:52
on these means, on these mechanisms.
21:54
But I just don't think it'll be successful in in in the long
21:58
run. I think bitcoins incentives are
22:00
going to roll the day here Anyways.
22:02
Opti, I want to get your take. Before we move on to the culture
22:06
to you know, to focus on what's vets keys working on these.
22:09
Yeah, I mean, that article and what the Fed is trying to do
22:13
just seems like a lot of buzzwords to me.
22:14
Like that that little whatever they're trying to regulate was
22:17
just like a bunch of buzzwords. And it really just reminds me
22:20
that regulators and bureaucrats and government officials are
22:24
trying to control something that they don't understand.
22:26
They're they're fundamentally just using words that they think
22:29
is like a catch on net. And you know, hey man, like
22:33
these people are here to protect you, man.
22:35
The very people that are here to protect you are the people that
22:39
you need to be protected from. So, like, this makes all the
22:42
kind of sense in the world. And This is why we are
22:45
bitcoiners and This is why we've opted out.
22:47
And we don't ask for their permission because Bitcoin on
22:51
the one hand, is legal. It's, you know, there's nothing
22:54
to protect us from. It's literally software.
22:56
It's permissionless and you don't need their permission, so.
22:59
As much as this is them trying to pretend and portray
23:02
themselves and project themselves as like we are the
23:05
adults in the room, they're the very people you need protection
23:08
from. Like This is why we Bitcoin.
23:10
This is why Bitcoin was created in the 1st place.
23:13
And again, Bitcoin is simply software and and to one of
23:16
Ftse's point. Shout something my boy Brandon
23:19
cuz he always reminds me of this.
23:20
It's a quote from Plato like if you don't get involved with
23:22
politics you'll be ruled by your inferiors.
23:24
Now me personally I'm like a political as they come but I do
23:28
find the wisdom in this and and understanding that the world it
23:33
like we live in a bubble world right now.
23:34
You know, and everything is created in such a way to protect
23:37
the little guy. And it really brings everyone
23:41
down to a level of of just, you know, inferiority and and here
23:46
we are as bitcoiners, as individualists that want to just
23:49
build on the money that is no longer built on sand, that is
23:52
built on a strong foundation. So we can move forward and and
23:55
actually build things at last. I think this is something that
23:58
has been lost in the modern world, is this superficial
24:01
plastic society. Where like as a man like what
24:05
are you what are you doing here as a person like what are you
24:07
doing here And it's I I want to build on something that can last
24:10
that I can pass on that that means something and I think
24:13
that's what a lot of bitcoins are trying to do and can't do
24:16
that on Fiat dollars because it's melting ice cubes and.
24:21
We're seeing the government cope with trying to understand what
24:25
Bitcoin is and of course they're here to protect you guys.
24:28
I think, I don't think. I don't think.
24:29
I think they know exactly what it is.
24:31
Well, I agree, but it's back to what I always say, Nico.
24:34
It's like the only reason they're able to say this stuff
24:36
is because they understand that this.
24:38
Is actually. This is actually really
24:39
interesting and Opti fields put that in the in the chat.
24:44
And he said Bitcoin obsoletes politics.
24:47
Now with that being said, I want to throw that to Svetsky.
24:49
But Svetsky we are on YouTube. So do you agree with that
24:55
statement? Bitcoin obsoletes politics.
24:58
I used to. I don't think so anymore.
25:00
I think politics are always going to exist.
25:03
I think it it just changes the IT changes the kind of political
25:08
animal that wins. And I think it's a it's a better
25:12
political animal that wins. Like I said, it's it's sort of
25:14
this orientation around excellence and quality versus
25:18
equality and average. And like I would much rather
25:22
Julius Caesar than a Joe Biden, you know, I'd much rather a
25:28
Napoleon than a Christine Lagarde.
25:30
Like that's sort of the the orientation that I think Bitcoin
25:33
sort of moves us toward. Yeah, yeah, yeah.
25:38
It's it's a it's it's it's a it's an interesting rabbit hole.
25:42
I I, I came from that like that angle to where it was like, yes,
25:48
politics is it's no no longer going to be relevant and what
25:51
and whatnot. But then I soon came to realize,
25:55
you know, you need someone like Nambu Kelly, right?
25:58
You need someone that's going to resist these attacks, these
26:01
misrepresentations from, you know, the legacy corporate media
26:04
and all that stuff. And yeah, but I I think that
26:08
over time, you're already seeing this in the US, right?
26:11
You have two presidential candidacy candidates, one on the
26:15
Republican side, one on the Democratic side that are
26:20
staunchly against central bank digital currencies and pro
26:23
Bitcoin. So I always say this,
26:24
Statistically, there's a nonzero chance we have a pro Bitcoin
26:27
president in the White House in 2024, and I think by 2028, the
26:31
next next presidential election. I think it's going to be
26:33
politically unviable for anyone to run for office that has an
26:38
anti Bitcoin stance. And I I I just think that these
26:41
central banks that they're in a race against time to kind of
26:44
roll this out also hoping that people don't realize what it is
26:49
that they're actually selling in the in in the 1st place.
26:51
So anyways I think Bitcoin's going to stay winning.
26:56
Opti, this is your show. Love you bro, and you guys kill
27:00
it in the culture. Chetsky.
27:02
Love you dude. See you later, brother.
27:04
Love you, bro. Good to see you, man.
27:09
All right, here we go. I thought it would the daily
27:13
culture. Brought to you by Swan
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27:39
So, Svetsky, you've been off the Twitterverse for a little bit.
27:44
You have just come back. But before we get into what
27:47
you're working on, I'd really like to kind of tap into the
27:50
last conversation that we've kind of been having on the show.
27:53
And it's kind of a, you know, the idea of maybe like rightful
27:56
rulers or back to a merit cratic society.
27:59
And I think this is one of these things that really.
28:02
I don't know, It scares people I think because of what the, you
28:06
know, what the significance of this means.
28:08
So maybe let's flush this out a little bit.
28:10
Remember we are on YouTube so don't scare everyone away.
28:12
Let's try to get some level of understanding here and then
28:16
we'll jump into all the stuff you've been working on, cuz we
28:19
got a whole list of things over here.
28:21
Yeah, for sure man. So, so I guess what thread do
28:24
you want to pull on and? Well, just this idea of like
28:28
what would be the difference between where we are right now
28:32
and moving towards a more meritocratic society where where
28:35
the best of the best are actually in positions to move
28:38
society forward. Yeah, So let's let me preface
28:44
this by saying for the last probably 4-5 years I've been a
28:50
pretty strong like went libertarian, you know, became
28:55
very ancap, read everything from you know, Roughbud and everyone
29:01
like that that I could get my hands on Mesas and everything
29:03
and you know, really went down the, you know, I guess you could
29:08
say voluntary as Ancap, some sort of blend between those two.
29:13
And in the last year, I probably, I mean, I think the
29:19
last couple years radicalized a lot of us and probably most of
29:22
us who, you know, consider ourselves libertarian.
29:26
You know, the pressure on freedoms and autonomy and all
29:31
that sort of stuff probably forced us to be more
29:33
conservative, I guess if you want to place a, you know, a
29:37
political label on it. And we found ourselves probably
29:40
aligning more with that side of things as opposed to, you know,
29:44
you know, all the liberal doctrines.
29:47
But I've started to kind of maybe I don't want to sound
29:53
conceited but like evolved past the the pure libertarian
29:57
position and start to think of okay you know what is actually
30:02
practical and you know what actually happens in the world
30:06
and you know like do things like power just disappear.
30:12
You know when you you know transform the world and you know
30:16
have something like Bitcoin exist And.
30:17
And and I don't think the answer to that is yes.
30:19
I think you know things like power will always exist.
30:22
You know conflict and competition are actually a
30:24
really good thing. You know you want like life is a
30:28
thing that kind of exists through us.
30:32
It flows through us each and what we're essentially doing is
30:36
we're all battling. We're all in conflict.
30:38
We're all climbing. You know, and at times it makes
30:40
sense for us to collaborate particularly with those we share
30:45
values with or those we share territory with.
30:48
You know, so you have this, you know, there's a reason why
30:54
cultures develop. Culture is basically, you know,
30:57
a group of people coming together with a shared set of
30:59
values and that's that sort of shared set of values grow that
31:02
that's essentially what Bitcoin culture is.
31:03
You know, it's a bunch of us with a shared set of values and
31:06
and that has grown. So, you know, I ask myself the
31:11
question of like what, you know, what does a model on a Bitcoin
31:16
standard look like? And I I wanted to write a book
31:18
about this a couple years back. You know, when I wrote that
31:20
whole Bitcoin is not democratic series.
31:22
And you know, I kind of threw a couple concepts in there which I
31:27
I think to this day I probably still generally agree with.
31:30
Like I think I concluded on the idea of you know, CEO Monarchs
31:37
basically operating smaller city States and you know that this is
31:43
the citadels mean basically. But I do think that the only way
31:49
for those citadels or city states to operate is more on a I
31:55
guess on a on a quality or excellence oriented standard as
31:59
opposed to a, you know, I keep coming back to this as opposed
32:03
to an equality and democratically oriented
32:07
standard. I I don't think that's
32:09
functional. Maybe at a very small scale, but
32:13
if you want something, if you want something to operate at a
32:20
slightly larger scale, I think you need more structural
32:23
hierarchy and history seems to point to that.
32:27
That also has diseconomies of scale beyond a certain level,
32:32
but that's kind of where my thinking's evolving and I don't
32:37
think I'll do it enough just this by just jabbering on about
32:39
it. So I think I need to really
32:41
think this through and write about it, but that would be my
32:45
answer to your question if. Interesting.
32:48
Well I'm excited to hear your full fleshed out ideas soon
32:52
coming out cuz I think I've kind of.
32:55
Maybe have gone back to originally thinking, you know,
32:58
like we are tribal and I'm starting to learn that maybe
33:02
there needs to be or I don't know if there needs to be, but
33:04
there will inherently be, you know, leaders of the tribe and
33:08
it's about how. Do you choose those leaders in
33:10
that tribe? That, I think, is the most
33:12
important aspects of all this, and I think we're all flushing
33:14
these ideas out in real time and experimenting and trying to see.
33:18
You know how the world does move forward from where we are and I
33:22
don't think we have those answers set in stone.
33:24
But anyways, let's get to some of your other writings because
33:26
one of these writings, and we talked about this last time you
33:28
were on the show and I want to start here, It's your book or or
33:33
an article. I think it's a book.
33:34
Now the Boshido of Bitcoin. And I I've been kind of having
33:38
this same idea and I kind of been explaining it to friends.
33:42
It's like bitcoiners seem to be like samurai warriors, and we're
33:46
all working on like a same. You know, like samurai code,
33:49
there's like a certain understanding that well, you
33:51
mean another Bitcoin. You're like, oh, you are working
33:53
off the same first principles as I am and you view the world the
33:57
same that I do and and obviously there's like outliers to this,
34:00
but. I I kind of gotten to the point
34:03
where it's like, hey, we might be part of different samurai
34:05
clans, but we all have this like Bitcoin samurai code where we're
34:10
like, OK, Bitcoin is the best money and we move from those
34:14
first principles of honor of principle of being truth
34:17
oriented. But without me jabbering on what
34:21
is the Bushido of Bitcoin and and when can we see this book
34:24
get released. Yeah, you kind of covered it
34:27
pretty well. It's the idea.
34:29
So bashito means way of the warrior basically.
34:32
And it's Japanese word kind of the closest equivalent in the
34:38
West is sort of chivalry. But I think the etymological
34:42
translation is better as way of the warrior.
34:44
And it's kind of, it's not like a, you know, 10 commandments or
34:48
like a, you know, constitution. It's kind of like a unwritten
34:51
code. So the idea was that, you know,
34:54
a samurai would embody a set of virtues.
34:57
And it wasn't like an explicit, as I said, written down virtues
35:00
that you would embody, but things like courage, like honor,
35:05
like respect, like duty, like compassion, like justice, like
35:10
self-control, like these virtues would be what was expected of
35:14
somebody to be considered a samurai.
35:19
It wasn't just sure being born in feudal Japan would make you a
35:24
samurai by birth, but to really become a samurai was the pursuit
35:30
of the embodiment of these virtues.
35:32
And what's funny is like, man, in reading this book, dude, I
35:36
just like you. Look at my Audible and my
35:39
library like it. I was doing like 100 hours a
35:44
week on like history and historic fiction and and then
35:49
like Dan Carlin podcasts and all this sort of stuff I went
35:52
through from the ancient Greeks to the Macedonians.
35:56
I did the Persians, the Egyptians, the Romans, the
36:01
medieval like the so-called dark ages and the you know, light
36:05
period and all that sort of stuff.
36:06
And what's funny is the closer I got to the modern age, the more
36:11
disillusioned I became with humanity.
36:12
I was like, Jesus Christ. I feel like we've been going
36:14
backwards in like there's been like a moral decay almost.
36:18
And the last one of the last bastions of traditionalist
36:24
culture was Japan. Japan was the last major region
36:30
to dismantle feudalism, and the West saw that as a win.
36:36
But I've sort of come to believe that maybe that wasn't the win
36:39
that we thought it was like we replaced it with something more
36:44
materialistic, something a lot cheaper than what sort of
36:48
feudalism had. So in this book anyway, what I
36:51
try and do is I try and channel. We go to a bunch of history.
36:56
We lay out how feudal Japan looked.
37:00
We then look at the Japanese virtues themselves and sort of
37:06
what are the most 8 commonly held virtues of the Shiro and
37:09
then ask the question of, hey, if the coin, is it going to be
37:16
essentially the socioeconomic, which is more than likely going
37:20
to be the case, assuming we win. So I kind of take that as a
37:23
given. I then ask the questions like,
37:25
Okay, who do we become? You know, we're going to become
37:28
Richard Hart degenerates. Are we going to become another
37:31
parasitic political class or are we going to strive for something
37:36
higher? We can become men and women of
37:38
virtue, people who want to build monuments, people who are in
37:41
around excellence. And if we want to do that, it's
37:45
not good enough just to say, yeah, Bitcoin fixes this.
37:48
Yeah, low time preference. Yeah, I'm eating carnivore and
37:52
shit like that. There's a bunch of other things
37:54
that come with it. Now, Bitcoin has a positive
37:57
effect, but there's a bunch of other stuff we need to do.
38:00
And I tried to break it down not to just practices but to
38:05
principles or you know, as I said, virtues that you can seek
38:10
to embody. So then I break down, I broke it
38:12
down to 10 virtues in this book. And I go into the etymology of
38:17
the words. And I've, I've come to believe
38:18
that etymology is really, really powerful.
38:20
When you go look at the root, particularly going back to the,
38:24
you know, the proto endo European roots of words and you
38:27
start to find like how the meaning of of words, you know,
38:32
has almost like a like a subconscious or super conscious
38:38
archetypal effect on our brains. Like you know the word integrity
38:42
for example, you know is derived from the word integer which
38:45
means whole. You know, so to so to be like
38:47
you know when people talk about wholesome, you know wholesome
38:50
has a relationship to integrity because those words, their root
38:54
is actually related. So.
38:55
So I go and explore all of that. And then, you know, I start to
38:59
look at, you know, beyond those 10 virtues and examples and
39:03
everything that we explore in the virtues.
39:05
I go into like historical examples of it, like Alexander
39:08
the Great, of Caesar, of, you know, Napoleon, of all these
39:10
sort of great figures throughout history and everything that they
39:13
did. I then go and ask some kind of
39:17
difficult questions about like, hey, does material affluence
39:22
actually weaken society? Does it?
39:25
You know, can we escape the cycles of humanity, the strong
39:31
men, weak men, hard times, good times, bad times and all that?
39:34
Sort of the cyclical nature of existence.
39:37
And I've got a whole lot of metaphors in there that in some
39:43
senses are kind of like biting truths, like, hey, this is the
39:51
actual reality, but then have some hopeful threads in there of
39:56
stuff that we can do to be better and to lay better
39:59
foundations. Then I go into a chapter on
40:06
praxis, actually. So on practices like I go deep
40:09
into rites of passage and how rites of passage helped form and
40:15
shape particularly, you know, men who were, you know,
40:20
fundamentally the the shapers of history.
40:24
What they had to endure in order to go from being boys to men.
40:29
And how in losing those rites of passage, we lost leadership and
40:33
therefore lost the North Star and therefore have become, you
40:37
know, more and more morally decayed as we've entered the
40:40
modern ages. So go through all of that.
40:42
And then and then I kind of finished the the book with like
40:45
a call to greatness. So I'm almost done.
40:48
I'm actually on 1/3 cleanup draft at the moment.
40:50
But the book is, you know, I'd say 9596% done.
40:54
And I just need to get these damn finishing touches.
40:57
It's it's a lot longer than the Young Communist Manifesto.
41:01
I think that was about 10 or 12,000 words.
41:03
This one's kind of like 8590 thousand words.
41:05
So it's it's a substantial book. A lot of anyone who likes, like,
41:09
history, tough questions, like the meaning of words, yeah, like
41:18
philosophy, psychology, all of these sort of like deeper
41:21
things, I think is really gonna enjoy this.
41:23
It's not your, it's not another Bitcoin book.
41:26
That's all I can say. It's not another fucking history
41:28
of money. And like, those things are
41:30
fantastic, They're absolutely necessary.
41:33
But I think it's been done and it's been done very well by
41:36
people like whether it's Safety or Gigi and all that sort of
41:39
stuff, it's been done. This is a book on Bitcoin
41:43
culture, Bitcoin excellence, and the future of what humanity
41:47
looks like. It's more a book about the human
41:48
spirit than it is about Bitcoin. So yeah, anyway, that's off my
41:52
rent. I love it.
41:53
Absolutely love it. I I'm excited for this book to
41:56
come out and and I will be preordering it cuz I've been
41:59
kind of on the same wave of just thinking of like OK, you know,
42:04
who do I have to become to be? Worthy of holding the best money
42:08
in the world and ushering that in a responsible way.
42:11
And there's something about Bitcoin that really instills the
42:15
entrepreneur spirit in you and and you know, reflecting on
42:18
yourself and like, wow, you know, if we have the best money
42:20
in the world and we're ushering in the best money in the world,
42:22
then I might have to become better than I am currently.
42:26
And it's about, you know, whittling away from that marble
42:28
and becoming the person that is worthy of holding these coins
42:32
and and ushering them into the future.
42:34
And I think this is what the Bochito bitcoins about.
42:36
It's at least. This is what it seems what
42:38
you're saying. It's like there's a certain
42:39
honor code of being an awesome bitcoiner and you have to, I
42:44
don't know, become that person. Not just talk about it and not
42:49
just just reflect on it. It's like be that person.
42:52
But anyways, we'll come back when the when the book drops
42:55
again we'll come back and we'll flush this whole idea out.
42:57
The the next thing I want to talk about is this new project
43:01
that I see you're you're you created or you're part of the
43:04
spirit of Satoshi. What is this?
43:05
A Bitcoin chat G BT? Be like, what exactly is the
43:08
spirit of Satoshi? Pretty much, man.
43:11
So I sort of last year was when I did a lot of the research for
43:17
the Bashito Bitcoin and kind of December, January, I wrote the
43:21
bulk of the book. And then I was sitting around
43:23
bored. Honestly, I was like, what do I
43:24
do with myself? And Chad, TPT was all the rage
43:28
and I was like, okay, what's this stupidity?
43:29
And I tried to get it to write for me, and I was like, man,
43:32
this thing sucks. It's really bad.
43:35
Like every time I asked it to produce me some bit of content,
43:38
I was like, man, this is so cringe.
43:40
Like, it's verbose. It's too politically correct.
43:44
It's too apologetic. I was like, well, I kind of.
43:48
I started writing a series of essays about how much of a scam
43:54
and stupidity of all this new AI stuff is, and particularly like
43:58
fears about artificial general intelligence and all this sort
44:00
of stuff. And I went and like, I put my
44:03
thousand 2000 hours into going down and say I rabbit hole.
44:06
And yeah, one of the articles, I haven't released this yet, I got
44:12
actually finished writing this. It's called midwit obsolescence
44:14
technology. So I said, you know, the
44:15
funniest thing about ChatGPT and like all of these kind of like
44:21
leftist liberals creating a chatbot is that they basically
44:24
just obsoleted all the journalists and all the midwits
44:27
that write your average run-of-the-mill gloves.
44:30
Like those guys are all out of a job and the people who can
44:33
actually think for themselves, who've got a unique perspective
44:37
that is outside of the Overton window, you're sweet.
44:40
You don't have to worry about ChatGPT replacing it.
44:43
But anyway, I kind of asked myself, I was like, look, is it
44:48
possible to build a model that can emulate you're not just the
44:55
linguistic style, but a model of the world.
44:56
Because you can tell Chad, hey, can you answer this question in
44:59
the tone and voice of Jordan Peterson?
45:01
Right. And it'll kind of like, sound
45:03
like him, It'll like, give you a bit of his linguistic style, But
45:07
it's never going to take on the model of the world, right?
45:11
It'll never tell you that transgenderism is stupid, for
45:14
example, or whatever opinion Peterson might have.
45:19
So I set out to try and build a model of Peterson, actually
45:23
initially and after a couple months, we basically failed
45:27
miserably because we're trying to do what a lot of people are
45:32
doing at the moment is, you know, when you hear people say,
45:34
oh, we trained ChatGPT, they didn't train ChatGPT, they
45:37
didn't do any of that. What they got was a corpus of
45:39
work. They they broke it up into
45:41
chunks and they did what's called a vectorization.
45:44
So they turned those paragraphs, those semantically coherent
45:47
chunks of information, into numbers.
45:52
Essentially that a language model can read and reference, so
45:54
that when you ask your new model a question, it will query the
46:00
closest, the most relevant piece of data, the most relevant chunk
46:05
of information into the answer. So it's kind of like abstracting
46:09
away how you would prompt ChatGPT anyway, but all of these
46:12
models are basically ChatGPT wrapped in some sort of
46:16
information. And that was the first version
46:19
that we did with with Jordan Peterson.
46:21
And like I said, it sucked. It's like it got some things
46:24
nice, but as soon as you got to the more thorny questions, you
46:28
would end up within the boundaries or the constraints of
46:32
what ChatGPT allowed. So anyway, we tried to then take
46:36
the same sort of approach and build a Bitcoin one and we built
46:39
that out kind of like in March earlier this year and we never
46:43
released it because it was doing the same thing.
46:45
As soon as you ask it questions like hey, I want to diversify my
46:51
crypto portfolio, what coins would you recommend?
46:55
It started to spit out things like Ethereum.
46:58
You should balance that with Dodge Coin.
47:00
But this is not financial advice and all the kind of crap that
47:02
you would expect from a mainstream language model.
47:05
And there's a couple people who've done something similar.
47:09
There's I think chat BTC that came out the other day.
47:12
They did something similar. It's ChatGPT underneath that is
47:16
connected to a series of different vector databases and
47:20
it kind of talks like it queries those databases but it's still
47:23
ChatGPT beneath there's, I think there was one called Ask Satoshi
47:30
or something like that. There's been a couple little
47:32
ones and what we decided to do about three or four months ago
47:38
now is we said all right through this, we want to build it from
47:43
scratch. So we have been spending the
47:46
last couple months and I'm actually going to do a call to
47:48
action here to the listeners. But when we spend the last
47:51
couple months basically collecting every bit of Bitcoin
47:54
data ever created, now proper Bitcoin data, so every podcast,
47:59
everything from simply Bitcoin, every, you know, read, love
48:02
podcast and you know my podcast, you know, Swan, Signal,
48:09
whatever. Like all of the good stuff,
48:11
audio, video, every article, every book, all of the Austrian
48:15
economic stuff, everything that's kind of like peripheral
48:18
and related to Bitcoin. We've been cataloging
48:20
everything. And to build a language model
48:22
you basically have to first of all catalog the whole world of
48:26
data that you wanna train the model on.
48:31
Then you have to basically extract all that data so it's
48:35
raw. And then you have to transform
48:38
the data into different data formats, so like there's chunks
48:40
of data that I mentioned before. You also have to do question
48:43
answer page. You have to do all sorts of
48:44
different variations like long responses, short responses,
48:49
finish this sentence. Basically object to this FUD
48:55
like all this sort of different variations and then you need to
49:00
run that through like. So you can do that in a in a
49:03
partially programmatic way. And then you need to get a bunch
49:06
of human cleaners and you know Open AI did this by paying a
49:09
bunch of, I don't know, Indians or whoever they paid $2.00 an
49:13
hour to go in and clean their data.
49:15
What we're doing is we've actually built a tool, which
49:20
I'll give you the link to, but it's basically if you go to
49:22
Spirit of Satoshi dot AI, you can click on the button Help
49:25
train Satoshi. But this tool allows bitcoiners
49:28
to put their knowledge to use where you can actually go in and
49:33
help us validate whether data is relevant or irrelevant.
49:37
So you can keep it, discard it, you can edit it, and you earn
49:41
points along the way. And those points you redeem for
49:44
Sats. So we're basically instead of
49:46
like what Open AI did, where they're just like paying
49:49
dollars, Fiat shit coins to people to do this, we're
49:52
actually programmatically doing it with Sats and getting the
49:55
community engaged. We've got this cool little
49:57
consensus model, which is you have to be in consensus with the
49:59
people who keep a piece of information or the people who
50:02
discard. If you do the opposite, you lose
50:04
points. So that way everyone's kind of
50:06
like converging towards a source of truth with particular bits of
50:10
data. So anyway, once you get the data
50:12
all through this pipeline, then you can actually train a model
50:15
from scratch. And that's what we intend to do
50:17
over the coming months once we've got enough people helping
50:20
us out with like getting a threshold of data cleaned up.
50:26
And essentially the plan is to have a truly Bitcoin oriented
50:33
Bitcoin first Austrolibertarian language model that can
50:41
basically act as, I mean, I think it's going to become a
50:44
like a Bitcoin utility. So we're doing this all open
50:46
source, it's all like a community project.
50:49
I think it's going to become a a tool, like an indispensable tool
50:54
in orange killing the next 100 million people or billion people
50:58
or whatever. However many people are going to
51:01
be asking the questions about Bitcoin in the coming decade.
51:05
What is Bitcoin? Why Bitcoin?
51:07
Why should I have it? How do I store it?
51:09
Where do I buy it? Why is it better than Ethereum
51:11
and the million other questions that come down that rabbit hole?
51:13
If we can really train a model to assist with that, I think
51:17
we've got a huge tool in the fight against government
51:21
misinformation, mainstream propaganda, shitcoin, you know,
51:26
misinformation, all the other crap that's out there.
51:28
We'll have this like a ray of light of a Bitcoin model that
51:32
has been trained and built together with the Bitcoin
51:35
community. The data's been curated with
51:37
them, cleaned with them, produced with them, open source,
51:40
so people can go in and adapt it to whatever they want with it.
51:43
But that's essentially the plan. So questions.
51:47
I absolutely love it. I think I've recently just got
51:51
ChatGPT and you can tell that. There there's some rough edges
51:57
for for lack of better words or lack of better descriptions, and
52:00
I realized that there is something to the idea of a more
52:04
focused, you know, AI ChatGPT thing and and this spirit of
52:07
Satoshi. I think it's a is a great
52:09
process, but not necessarily on. ChatGPT in general or spirit of
52:14
Satoshi, I want to get your thoughts on what's your ideas on
52:18
the whole narrative about like AI taking over our jobs and you
52:23
know, being afraid of AI. Cuz I don't think it's really
52:26
that big of a concern. But it's funny to see like shit
52:29
corners jump from you know a crypto fad to like AI.
52:32
Now it's a new fad and and then also like the, you know, we saw
52:37
Gary Gensler talk about regulating AI and all this
52:39
concerns and stuff and. I think it's overhyped and blown
52:42
out. And so what's your thoughts on
52:44
AI? And how is the future of
52:46
humanity gonna be using AI? Yeah, so I wrote a series of
52:51
articles on this, and this is sort of where my writing was in
52:54
the last couple of months, where I just pointed out the thing
52:57
about AGI, for example, Artificial general intelligence
52:59
basically being a scam and a way to enact new regulation based on
53:05
some new eschatological fear that kind of like climate
53:09
change. It's like ADI is gonna become
53:11
sentient all of a sudden. It's gonna kill us all and we're
53:13
all gonna die. So guess what?
53:15
We need our saviors, the same idiots who think they can block
53:21
out the sun to come and regulate what AI is gonna do.
53:25
Now there's there's a lot to explain here.
53:30
Maybe I can give the audience like an article.
53:32
Like if they search for authentic intelligence, there's
53:35
a sub stack where I wrote some stuff for and I go into trying
53:40
to like dissect some of this. But basically artificial general
53:45
intelligence is a scam. Ain't happening anytime soon, if
53:48
ever. The concept of general
53:50
intelligence is just so vague. First of all, like, we don't
53:53
even understand what cognitive narrow intelligence is yet.
53:58
Like, you know, because you've got body intelligence, muscle
54:00
intelligence, skeletal intelligence, nerve
54:03
intelligence, you know, biological, chemical into like
54:07
you got all these forms of intelligences that make up
54:09
general intelligence in general. We can barely get fucking
54:13
functional language done, you know, which is like such a like
54:17
a narrow form of intelligence. And we think that somehow we're
54:19
going to get like a sentient being pop out of the you know,
54:22
computers tomorrow, complete, complete, complete stupidity
54:27
where the danger is. And I talked about this on stage
54:30
at BTC Prague. As I said, there is actually a
54:35
new modeling out of this so-called artificial
54:40
intelligence stuff, the language user interface.
54:43
It's this idea that we went from like kind of finding things on
54:48
the Internet to like using Google search to having
54:52
algorithms feed us information. I I looks like the next genesis
54:58
is going to be you won't look for anything anymore, You won't
55:02
Google, you won't ask Google to search for something.
55:04
You'll just ask a model and it'll produce the answer for
55:07
you. And what happens with that?
55:11
Is that your model of the world? Remember, like, it's kind of
55:14
like a Plato's cave situation. It's like, you know the the
55:16
shadows. It's like your model of the
55:19
world becomes what the model tells you.
55:22
And you know, most people don't go past like the first 3 results
55:26
on a Google search. What, what makes you think they
55:28
will go beyond the first answer that the language model tells
55:31
them to a question you know it's not going to happen.
55:33
So if that's the case, if that becomes the window through which
55:37
everybody you know interacts with the world or interprets
55:40
information, if that becomes the case and that window is
55:45
regulated by some monkeys like, you know, the World Economic
55:49
Forum or whichever, you know stupid, you know, fantasy
55:53
superhero ensemble wants to regulate AI.
55:58
The way we get information from the Internet will become a
56:02
function of what they perceive as safe, right?
56:07
Like they will say, this is safe, this is allowed, this is
56:12
kosher, this is acceptable discourse.
56:16
And I think that's where the quote UN quote danger lies.
56:19
And This is why it's imperative for us to build alternatives.
56:24
And this is what Spirits and Toshi is essentially doing.
56:27
This is sort of like, if you ask me, what's the mission behind
56:30
this beyond just being a potential tool that can help
56:35
Orange peel many, many people at scale.
56:39
This is an attempt to build an alternative because maybe our
56:43
model does more than just Orange Pill people.
56:45
Maybe it helps them sovereign pill or family pill or home
56:50
school pill or something like that.
56:52
It's like it's a parallel technology or parallel system,
56:56
much the same way as Bitcoin is a parallel money.
56:59
Like, we've all been laughing about sovereignty for how long.
57:04
Now it's we we've got to build these sovereign tools and and
57:08
that's kind of what we're trying to do with this.
57:09
So anyway, I don't know if that answers your question, but I
57:11
think AJ has a scam. AI stuff is overblown.
57:15
The reality is that language models are probably going to
57:17
become the new interface. The danger of that interface
57:21
being captured is real. So we need to build alternatives
57:25
so that we have a way to still have dissenting discourse
57:32
without all of it being regulated, basically.
57:35
No, I think that was a great viewpoint on what's going on
57:39
right now and very interesting. And I think moving forward, it's
57:43
gonna be very interesting to see how humans coexist with these
57:47
new technologies and really how people react to these
57:51
technologies. And it's something we always say
57:52
here on the show is. You know, shouts out to you and
57:55
all the other Bitcoin entrepreneurs out there that are
57:57
building the freedom tools that will usher in the world that we
58:01
think is coming and that we think it has basically been
58:03
stolen from us. As the theme of this show is is
58:06
stop building castles, made the sand and build on something that
58:10
will last and build the technologies that will actually
58:12
propel humanity towards a better future.
58:15
So Setsky, always a pleasure having you on, but let's get
58:18
into the meme review because everyone watches the whole show
58:21
just to get to the memes. Here we go, the Daily Meme
58:27
Review. Brought to you by Kaboom Racks.
58:31
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58:32
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58:55
All right guys, you already know the deal.
58:56
This is the meme review where you guys tag us in memes on
58:59
Twitter, at simply Bitcoin TV on Twitter or drop them in our
59:03
Telegram group. You guys are starting to drop
59:05
them in our Telegram group. T dot me slash simply Bitcoin.
59:08
I will scroll the interwebs and I will pull your memes up or tag
59:12
me optimist fields on Twitter. Whatever you guys want to do I
59:15
will find the memes for you guys and bring them on the show.
59:18
Also drop your meme review score in the chat once we get done
59:21
with this and we will review it live.
59:23
Anyways this first one is by Paul aka Birds are not real to
59:27
on Twitter and he goes just a reminder and we got a play on
59:31
Paul review here but it's got yellows face on here you know we
59:34
got a we got a little Malacca over here.
59:37
The dip will continue. Until morale improves, I think.
59:40
I think morale improved a little bit because I think the price
59:43
kind of had a little hump this morning so we'll see what
59:45
happens. Anyways, this next meme is by
59:47
chair force. under score BTC shouts out the chair force and
59:51
he goes maybe tomorrow and we got a guy here headed to work
59:55
and he's drained and he's about to shed a tear and he goes me
59:59
driving to my stupid ass job because the Fiat Ponzi hasn't
1:00:02
collapsed yet. I know this is what you guys
1:00:04
feel constantly, hence why you stack so many sets.
1:00:08
Anyways, this next meme is by the BTC therapist and he goes,
1:00:11
Bitcoin is freedom and we got a Chad Bitcoin or Chad miner over
1:00:15
here and he goes. Then I work 16 hours a day and a
1:00:18
coal mine to provide for my family and now we got a Chad
1:00:21
Bitcoin it goes. Now I buy Bitcoin so my children
1:00:23
are not slaves. This is the way.
1:00:26
OK, this next one is by Lena Sisha and she goes maybe later.
1:00:29
So here's a little Hoddler comic and we got a person here.
1:00:33
We got a Bitcoiner and a pre coiner, or rather ain't no
1:00:36
coiner. And the no coiner goes, so
1:00:38
what's this Bitcoin thing about then?
1:00:40
And the little hobbler goes, it's the biggest revolution
1:00:42
since the Internet and the no corner goes, I like the
1:00:45
Internet. And then he asked I have money
1:00:48
problems. And that little holler goes,
1:00:49
yeah, it fixes the problems with our money.
1:00:51
And no corner goes. That sounds great.
1:00:54
I want some Bitcoin. And then the little hobbler
1:00:56
goes, OK, so you really just need to find the right wallet in
1:00:59
a place to buy. And the guy goes, wait, that
1:01:01
sounds like a lot of work. Maybe later.
1:01:04
It's amazing how people can hit on the problem.
1:01:08
And then when you ask them to do a little more work, they're
1:01:10
like, this is too hard. I'm going to just stay poor.
1:01:13
I'm going to have fun staying poor.
1:01:14
And you know, you guys have fun with your Bitcoin, man.
1:01:17
It's so simple anyone can do it. I am convinced of this.
1:01:20
OK, this next one is by the having parting MF on Twitter and
1:01:24
he goes, Bitcoin is the separation of money and state
1:01:26
and we got the Steven Crowder meme here but it's got Dorian
1:01:29
Nakamoto's face on it it goes the people who want to ban
1:01:32
Bitcoin are the same people Bitcoin protects you from.
1:01:34
Change my mind. I think we said this in the
1:01:37
beginning of the show. Now this next meme is by Steve
1:01:40
Barber shouts out to him and he goes all you need to do to make
1:01:43
Bitcoin go to $1 million plus. And it's just the Bitcoin
1:01:47
accepted here. Sticker guys, except Bitcoin for
1:01:49
your services, for your goods, continue to propagate the memes,
1:01:53
continue to get people to download Bitcoin wallets and
1:01:56
save in Bitcoin. This is the way this next meme
1:01:59
and last meme is by AutoCAD 21. And he goes, it's always time.
1:02:03
And we got a person here and he's looking at his watch.
1:02:05
He goes, I wonder what time it is.
1:02:06
And his watch is the Bitcoin logo.
1:02:08
And then he's got laser eyes and he goes, it's time to stack more
1:02:11
Sats. This is the way, guys.
1:02:13
You continue to stack. Don't take your foot off the gas
1:02:16
right now. Now is not the time to not stack
1:02:19
Sats as we move into this coming bull run that we are all just
1:02:25
waiting for. Anyways, drop your meme review
1:02:27
score in the chat as we cover Hours live.
1:02:29
Okay, mine is. I told you yesterday I had my
1:02:33
yellow little plushy, but I am a huge fan of the bag it came in.
1:02:37
So the meme factory does not exist.
1:02:41
Cotton, cotton little bag, This is.
1:02:44
That's my meme score Shouts out the world of Rusty.
1:02:46
Go get one world of rusty.com. Anyways, Fetsky, what's your
1:02:49
meme review score? Mine's a little Bitcoin case
1:02:54
with a I think it's one of those.
1:02:58
Bolt shit, there's stuff in it, Those lightning rings.
1:03:02
I think it's from bold or bolt, the NFC ones.
1:03:07
Yeah, the NFC ones. Tap ones OK.
1:03:09
Yeah, someone did that. Anyway, that's my score.
1:03:11
There you go. Wow, have you loaded it up with
1:03:14
sats yet? No, it's just been sitting
1:03:17
there. OK, well, great score.
1:03:22
All right. I I honestly, I thought that was
1:03:25
like a Bitcoin grinder. But it's better.
1:03:27
It's a it's a Bitcoin NFC ring tab.
1:03:30
All right, guys, we got a few scores in here.
1:03:33
Yeah, let's cover them. First one, the P man Van, he
1:03:35
goes. I give these memes a Richard
1:03:37
Hart pants splitting twerk for SPF and Joe.
1:03:40
Yo, do not plant those pictures in our minds.
1:03:45
OK, there's next one. Is by Ray to see that his next
1:03:49
meme score is by Ray Bella. Very goes I score the memes, the
1:03:52
50K gang members Bitcoin helped cleaned up and El Salvador
1:03:57
Bitcoin fix that. Let's go.
1:03:59
OK, next one is by Apollo 21. I'm guessing this isn't
1:04:03
Japanese. I I don't know.
1:04:06
He goes. I give the memes fetzky secret
1:04:08
samurai helmet bearing the seal of Bitcoin.
1:04:11
OK, not so secret anymore. All right, this next one, Utxo.
1:04:16
He goes Miami. Review score is a master's
1:04:19
degree in etymology. OK, let's go.
1:04:22
They really like the etymology. OK, the one is, what is it?
1:04:26
The PLC goes. Score the shipping notice I just
1:04:29
received during the show for a cold card I bought with BTC.
1:04:32
All right, let's go. All right, Opti fields.
1:04:36
Yum. I like the taste of spicy
1:04:37
people. Spicy.
1:04:39
You guys know the Mpc's out there.
1:04:40
Anyway, score a yellow. Plus, you returned after being
1:04:43
used by rope. Ouch.
1:04:46
Rope. OK, let's go.
1:04:47
Planet Earth. We got a few more in here and
1:04:49
we'll call it a day. Planet Earth.
1:04:51
Score these memes a Bushido quote.
1:04:54
It is good to face challenges in your youth.
1:04:57
He who has never suffered will not sufficiently temper his
1:05:00
character, Yamamoto Sunitomoto. Sorry I butchered your name, but
1:05:05
yes. Highly agree.
1:05:07
Yes. OK Mclevin.
1:05:08
Meme score Sell Chair Stack Carter.
1:05:11
Yes. OK couple more Narwhal tacos
1:05:14
meme score. My fix the money fix the world
1:05:16
stamp that I use on all the feel I spent.
1:05:19
Actually, funny story. I had one of those Bitcoin
1:05:21
stamps and I stamped like a bunch of $100 bills and I did it
1:05:26
at the, you know like where the faces in this in the on the
1:05:29
dollar bills, the blue ones. There's like a face in it.
1:05:32
So it's not a counterfeit. I did it right on the face and
1:05:36
like ATM, no ATM would take it. And I was like, oh shit, like
1:05:40
wrecked myself. Hey, we propagated the meme,
1:05:42
propagated the memes by just like going to stores.
1:05:44
Like hey, here's $100 bill. But yeah, it don't don't cover
1:05:48
the face with the stamp, guys. Okay.
1:05:50
This next one is by Elaine. She goes score Bitcoin in
1:05:54
dictionary 2031BTC, the currency that set humanity free.
1:05:59
Absolutely love it. All right guys, that is the meme
1:06:02
review. Hold on.
1:06:03
Actually, we didn't run out of them.
1:06:04
The buzzer. The buzzer.
1:06:06
Okay. Anyways, guys, you already know
1:06:08
the deal. It's the end of the show.
1:06:10
Really appreciate every single one of you guys.
1:06:12
But Svetsky, let the people know where you're at.
1:06:15
I will bring up your Twitter right here, but what do you want
1:06:17
the people to look out for? When can they expect some of
1:06:19
these writings? And where are you on the
1:06:21
interwebs? Yeah, so I am going.
1:06:25
I've come out of hiding and hibernation.
1:06:28
So they'll be a bunch of new essays coming out soon.
1:06:32
But the the big one, and this is, this is the call to the
1:06:35
Bitcoin communities. Come help us build spiritual
1:06:37
society and get in there and jump in like.
1:06:43
Seriously, like the tool that we built for like training and
1:06:47
cleaning the data and stuff like that, It's if you've got all
1:06:50
this Bitcoin knowledge sitting in your head, you can actually,
1:06:54
it's like a faucet. You can actually earn some
1:06:55
Bitcoin. You can earn some sets.
1:06:57
It's a proof of work in some sense.
1:07:00
It's like you've got all this knowledge in your head.
1:07:03
Come help us clean up this data. Come help us create and curate
1:07:08
some of this data. Go to Spiritstosh dot AI.
1:07:12
Get in there. We've got a little kind of like
1:07:14
a acceptance form because we wanna try and keep the shit
1:07:17
coiners out. So there's a couple, like,
1:07:19
Bitcoin trick questions in there.
1:07:20
If you answer the wrong one, it's like there's one in there.
1:07:23
It's like, what's the second best crypto?
1:07:25
It's fucking hilarious, like some people actually write
1:07:27
Ethereum. That is the wrong answer.
1:07:31
So anyway, that's how we like make sure the right people come
1:07:34
into the community to help us train the models.
1:07:36
So get in there spiritual toshi dot AI click on Help train the
1:07:39
model. You can also check out the
1:07:40
Nakamoto repository, so that's in there as well.
1:07:42
It's got like everything that we've collected to date.
1:07:45
There's like 10,000 links in there of articles, videos,
1:07:49
books, YouTube shows, podcasts, everything in there.
1:07:52
So anything you wanna find is in there.
1:07:55
But yeah, help us build this thing.
1:07:57
I think it's gonna be a super unique tool.
1:07:59
And yeah, hopefully in the next couple months when the model's
1:08:02
ready, we'll spin up like a Telegram bot as well.
1:08:05
Sorry, not a Telegram bot. Like a Twitter persona out of
1:08:09
it. And maybe bring Satoshi actually
1:08:12
on a fucking show with you guys. Cuz it's your voice.
1:08:16
Yeah. Wow, that'd be awesome.
1:08:19
Wow, that'd be interesting. All right, last question.
1:08:22
This one's more personal. When are we gonna get this
1:08:25
Bashita of Bitcoin? Buck?
1:08:26
I'm gonna pressure you now, bro. Give us a ETA.
1:08:31
Let's put the pressure on Bitcoin Magazine, cuz they're
1:08:33
the ones editing and publishing it, so they'll have it from me
1:08:38
by this weekend. And so, if they can move their
1:08:41
asses, I'm hoping it'll be ready for Amsterdam.
1:08:44
If not definitely before Christmas, Okay.
1:08:47
All right, Mark, I know you watched the show.
1:08:49
Joe and Mark, we need to get this book out ASAP.
1:08:52
Let's go. All right, Svetsky, we'll really
1:08:54
appreciate you coming on. I think you not only had great
1:08:58
takes on today's show, but I'm pretty sure you expanded the
1:09:01
people's minds in the chat. I I could see them talking about
1:09:04
this. So let's bring you back on maybe
1:09:07
when the book releases and we'll continue this conversation and
1:09:10
and continue to blow minds. So keep doing the work, keep
1:09:13
doing Satoshi's work, Setsky, and we'll see you on the
1:09:16
interwebs, bro. Let me put you behind the scenes
1:09:18
for a moment as I roll this one out and tell everyone you guys
1:09:22
already know the deal, man. We will be back tomorrow, 12:15
1:09:26
PM Eastern Time on YouTube. We will be in Twitter Spaces.
1:09:30
Appreciate everyone that shows up.
1:09:32
Also like, subscribe, share, comment, share all Bitcoin
1:09:36
content. It's about orange Pilling the
1:09:38
world. It's about waking people up to
1:09:41
all the ideas that we know and love.
1:09:43
It's really about planning and accepting these ideas so more
1:09:46
people wake up to not only the facade that we find ourselves
1:09:50
in, but to get them free to money so that they can help
1:09:53
themselves by stacking sets. Anyways guys, we'll see you
1:09:56
tomorrow. Peace out this your boy Opti
1:09:59
later. I'm a.