Latest / Simply Bitcoin / Ray Dalio Changes His Mind on Bitcoin | EP 669

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Ray Dalio Changes His Mind on Bitcoin | EP 669 · Simply Bitcoin

0:13
Yeah welcome to another episode of Simply Bitcoin live.
0:15
Your number one source for the peaceful Bitcoin Revolution we
0:18
could have breaking news culture matter Warfare we will be your
0:19
guide through the separation of money and state man.
0:23
Oh man ray dalio when went on MSNBC and it looks like he had
0:31
like a realizations on live TV. I think I was I was making the
0:36
case to Opti and Russian before before we went live, I think
0:40
he's like, 75% of Bitcoin. Owner because he identifies the
0:43
problems of you know the current Financial system right he
0:47
identifies them and then he asked a very important question
0:51
right? And we're going to get into that
0:53
important question. I think that's the question that
0:56
holding Bitcoin saving a Bitcoin.
0:58
I think that inevitably leads. For you to ask this question
1:03
like you, it's inevitable that you that you asked this,
1:06
especially if you're a big corner, so watching him, go
1:09
down, that path is fascinating and we're going to get to who
1:13
did Ray dalio is for anyone who doesn't know.
1:16
And why he's important when you get into all the details.
1:21
And also we're going to cover the ordinals thing which was
1:25
it's interesting and I think it really highlights right the
1:28
importance of being very careful into adding functionality to
1:34
bitcoin, right Bitcoin does one thing very, very good.
1:38
We should keep it that way because anything that we add,
1:41
there's a trade-off, right? And this might have been a
1:43
trade-off. Now, I don't think it's as As as
1:46
a big deal as a lot of people say because I think that the fee
1:48
Market will take care of it anyways, but we're going to get
1:51
into the details of it. Anyways, before we start the
1:54
show, I give a shout-out to my awesome Coast.
1:57
Are you doing Opti? Don't wonderful man.
1:59
It's Friday, you know, it's Friday.
2:01
We made it. We made it another week.
2:04
Yeah. But I'm excited to hear any good
2:06
Jones get get on his soapbox today.
2:08
I know, I know we're going to get an Eco Jones rant today, so
2:12
it's going to be a good Friday and on the I think I'm going to
2:17
bring a little thread in and it's about a topic.
2:20
We've been covering a lot here on simply Bitcoin, and it's the
2:23
idea that bitcoiners are consistently winning and the all
2:27
Corners are irrelevant and we have the real boss, which is the
2:31
ultimate altcoin. The US dollar to focus on and
2:35
the central Bankers are the ones that we need to focus on and to
2:39
stay having the winning mentality that bitcoiners are
2:41
winning. Alright, anyways, nigga, go on
2:44
everybody. Let's start the show.
2:46
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today. Anyways, at the time of
3:57
recording, the Bitcoin price is 23,500 545 SATs per dollar 4246
4:04
block height 774 1891 reachable, Bitcoin nodes.
4:09
Fourteen thousand, three hundred forty, three blocks of The
4:12
Happening. 65,000 109 Having estimate April 24, 20, 24, total
4:18
lightning network capacity, 5315 capacity value. 125 million
4:23
dollars realized monetary inflation 1.76 percent and the
4:27
market capitalization of Bitcoin is 454 billion dollars with a
4:33
be. Anyways so this Ray dalio clip
4:38
came out and remember this this this thing come from anywhere
4:41
like this has been developing for a while he's been Saying is
4:45
ideas on bitcoin. He went from absolutely being a
4:48
Bitcoin hater to being a Bitcoin fan.
4:51
So he's kind of like flip flop here and there, but I think he's
4:55
coming to the inevitable back. The inevitable realization about
4:59
Bitcoin and the questions that Bitcoin makes you ask about
5:04
money, which I think is so fascinating, because I think
5:07
we've all been there, especially, especially, if, you
5:11
know, if you've been in Bitcoin for a little bit anyways.
5:14
Ways, let's check out the clip and then we'll talk about it.
5:18
You know, quite amazing that for 12 years, it's accomplishments,
5:21
but I think it has no relation to anything, okay?
5:25
In other words, it moves, it has no relation.
5:28
It's a tiny thing. That's gets a disproportionate
5:31
attention. You know, the value of crypto
5:34
equipped Bitcoin is less than a third of the value of Microsoft
5:38
stock you could go into Industries biotech and many
5:43
other Industries, a more interesting than Bitcoin.
5:46
It's not going to be an effective money, it's not it.
5:48
The store hold of wealth. It's not an effective medium of
5:50
exchange, but we are in a world in which money as we know it is
5:57
in Jeopardy, right? We are printing too much and
6:00
it's not just the United States, all the reserve currencies the
6:03
year, what's going on in your land, what's going on in Yen?
6:07
And so, in that world, the question is, what is money?
6:10
And how's that going to operate? I think the question over the
6:14
next number of years is really what is money?
6:17
Not just as a medium of exchange but a store hold of.
6:20
Well that sounds like a argument for Bitcoin at some point or
6:24
first. Son.
6:26
Maybe I think if you want if you want a digital currency you have
6:30
to deal something different. I don't think that the stable
6:32
coins are good because then you're getting a fiat currency
6:36
again. I think that what you really
6:38
would, what would be best is and inflation-linked coin, right?
6:43
Another words something where basically you would say, okay
6:47
this is going to give A buying power, because every individual
6:51
wants what do they want? They want to secure their buying
6:54
power. And if you want to save, now if
6:57
you put it in Bitcoin, it goes like this.
6:59
Who knows what happens if you put it into something, the
7:02
closest thing to that is inflation-indexed bonds and so
7:05
on. But if you put, if you created a
7:08
coin that says, okay, this is buying power that I know I could
7:11
save and and put my money and over a period of time and then I
7:15
can transact and anywhere. I think that that Would be a
7:18
good coin but you so I think you're going to see probably the
7:22
development of coins that you haven't seen.
7:26
That probably will end up being attractive.
7:29
Viable coins. I don't think Bitcoin is it so I
7:32
want to go back to the mark. Oh man.
7:34
Oh man, the the real is the slow realizations.
7:39
Like he, I think he's like realizing like, you know, like
7:43
the printing too much money their needs.
7:45
It's not Bitcoin. It's not stable coins because
7:48
they Solve the problem of Fiat needs to, but it needs to have
7:50
inflation in there and then that kind of goes back to what we
7:55
were saying about Warren Buffett.
7:57
Sorry Charlie Munger yesterday, right?
8:00
Which is like the continuing heirs are trying to justify the
8:04
continuation of how it is. They got rich in the first
8:07
place. Even though the majority of
8:09
people did not benefit from that system, right?
8:12
It was only the people that had the means to save and assets
8:15
that benefited from asset inflation real work wasn't
8:18
Rewarded during that time, right?
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In fact, it's stayed relatively the same.
8:22
So just fascinating to see. But like, like I said, like
8:27
Bitcoin is inevitable. Like he's coming to this
8:30
inevitable conclusion. Even if it's ever, so slowly so
8:33
slowly, right? Like he's like, oh man, like
8:37
that's right, but it can't be Bitcoin like it's volatile like
8:40
yeah, we've said that many times, like that's their
8:42
favorite excuse. Like, that's the excuse that
8:44
Justin Trudeau said the other day, right?
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It's volatile but it's like Fine.
8:49
You're right. It's volatile but like it's been
8:52
going up into the right last 10 years.
8:56
So it's like if something goes up into the right like like does
9:00
it really like I think the volatility is necessary in order
9:03
to achieve those crazy gains, right?
9:06
That Bitcoin has done right now doesn't mean it's going to be as
9:10
volatile as it was in the past. But dude, like I mean, I think
9:15
that's the that's the price you pay as Bitcoin I like finds like
9:20
what the market feels like. Is that the store value price?
9:23
Now, I think it's going to get to a point where the Bitcoin
9:26
market cap is going to be so big that the price movements are
9:31
definitely not going to be as crazy.
9:33
And then perhaps, when that happens, it's slowly migrates
9:36
into a medium of exchange, right?
9:38
But I mean it still needs to get there like what did he expect
9:42
for it to happen overnight you know like that that's the only
9:45
criticism of Bitcoin, right? It's like if Didn't have the
9:49
volatility then what would they say?
9:51
Like, what would their response to be?
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That? I think the next response is
9:54
like a currency needs to have inflation, right?
9:56
Like the, I think that's the next one.
9:58
Like it makes sense. Why Ray dalio would say that
10:00
he's benefited tremendously from that system, but the average
10:04
Joe, the average person, the working class.
10:07
Nah, they have it, they got screwed, especially, like, if
10:10
you're, if you're under the age of 35, you got, you literally
10:13
got the short end of the stick really badly, right?
10:18
And at least for me Bitcoin was my way out Bitcoin, you know,
10:21
like I was like dude like f the system this is screwed.
10:25
I'm going to save him Bitcoin, you know, think long-term and
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dude that's that's what I chose anyways, bro.
10:32
Like it's fascinating and I think what's going to be even
10:35
more fascinating Opti, is that in the next five years as nine?
10:39
Bouquet Lee and Michael sailor become Vindicated, right?
10:43
Their ideas become Vindicated, it's going to be interesting.
10:46
Watching a lot of the most Powerful people in the world, go
10:50
through that mental process. And for anyone who doesn't know
10:53
Ray dalio is currently or he was.
10:56
I think he might have retired but he founded this company
10:59
called Bridgewater. Bridgewater Associates is the
11:03
largest hedge fund in America, right?
11:05
So this guy's definitely influential what he says, you
11:09
know, holds a lot of weight. And it's interesting to see
11:12
where he is at, in his Bitcoin journey.
11:16
I think it all roads. Lead to the same destination.
11:19
I think it's just a matter of time bro.
11:21
Like it. And you could see like the the
11:25
transition he went from this thing's a scam to know this
11:29
thing works to you know like it's like ever so slowly.
11:32
It's moving in the right direction, it's just taking a
11:35
while. Anyways, Opti, what are your
11:36
thoughts, bro? Well as everyone saying in the
11:40
chat love to see the Fiat brains, dude.
11:43
The mental gymnastics to try to understand what Bitcoin is or
11:47
rather just To understand the phenomenon of people, adopting
11:52
Bitcoin and there's a few things he said, you know, like Bitcoin
11:54
has no relation to anything. I mean I would argue that Fiat
11:59
has no relation to anything. They literally print the money
12:02
out of thin air. You know, Bitcoin is at least
12:04
linked to energy another point. And, and I think this is kind of
12:08
the big point that you said about Bridgewater.
12:11
You know, he said Bitcoin is a tiny thing that gets
12:13
disproportionate attention and this is why the big investor
12:17
stay away from bit. Coin because it is a tiny Market
12:19
where what I'd like you know point four trillion dollar
12:23
market cap like if these big investors do invest in Bitcoin,
12:27
like they will move the needle and they will you know,
12:30
quote-unquote legitimize Bitcoin and then the race is really
12:34
start but I think the signal in here is the question that he
12:39
asked, you know, like what is money.
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That is the question that we all inevitably get to bitcoin and
12:44
the way he put it, you know, money as we know it is in
12:47
Jeopardy because Is as we continuously cover here on the
12:50
show, as we continuously see in the Bitcoin space, the Fiat
12:54
system, the the Fiat currencies of the world are cracking in
13:00
real time and and they're doing their best to try to stop the
13:04
damn from completely breaking and people that are paying
13:07
attention, like us bitcoiners are seeing the writing on the
13:10
wall and this is why we are in Bitcoin, but I think the the,
13:13
the funny part everyone was laughing it in the chat as well.
13:17
What do you say the Inflation-linked coin, like
13:20
Lola. What like he even started before
13:22
he even said that he started by saying stable coins are
13:27
basically the Fiat system built again and then he did this whole
13:30
mental gymnastics of like, wait, but why people are adopting
13:34
Bitcoin? We're going to need a new
13:36
technology, a new coin, that is linked to inflation.
13:39
So that people. What do you say?
13:42
Secure their buying power. Like, he's basically describing
13:47
Bitcoin sad. Are my stable coin and he just
13:51
he again it's just when your brain is so saturated with the
13:54
Fiat system. It's very hard to think outside
13:57
of that system and I think this is why a lot of us Millennials.
14:01
And and Zoomers in general, are so easily adaptable to bitcoin
14:06
is because a lot of us have opted out of the madness and we
14:10
didn't want to partake in the Fiat system.
14:12
So we don't have to relearn what money is.
14:14
We're just learning what money is in real-time with Bitcoin and
14:17
we're learning. How to build on that Bitcoin
14:19
standard and so we don't have to deal with these mental
14:22
gymnastics that you know, the Charlie munger's and the ray
14:26
dalio is of the world have to go through to not only like appease
14:32
their own knowledge but also try not to look dumb because you
14:36
know, the normal view of money is is what the Fiat World tells
14:41
you what up? What does that mean Opti or does
14:43
that mean? Which one I'm new to bitcoin?
14:45
I'm here? Yeah yeah.
14:48
Exactly. Like that's exactly what it's
14:50
like. Any other one where they, you
14:52
know, they're putting the square meme in the Square block into
14:55
the circle. Like this is what I see so many
14:58
people coming from the Fiat world.
15:00
Do they try to fit Bitcoin not only in the memetics of the Fiat
15:06
world but they try to fit it into their world view where all
15:09
of us are like yell you know you don't change Bitcoin.
15:12
Bitcoin changes you to opens up a whole new perspective of what
15:15
life can be and this is what the Bitcoin standard provides.
15:18
It's a men to that brother. Alright everybody, let's get to
15:21
the news. We got a lot to talk about.
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All right everybody this was making quite a splash and a lot
16:03
of people asked us to cover. It Bitcoin Community erupts in
16:08
existential debate over nft project ordinals some are
16:13
calling the new protocol which stores and if T's on Blick
16:16
Bitcoin and attack on the Block chains, original Mission to
16:19
conduct Financial transactions. Others say the new use case
16:22
should be embraced alongside Side, other demands for Block
16:25
space. This month's tape.
16:26
You de Beaute on the ordinal ordinals protocol, which stores
16:29
not n FTS on the Bitcoin. Blockchain is driving a wedge
16:32
between Bitcoin, purists who say the blockchain should be
16:35
restricted to financial transactions.
16:36
And those who seek the network as large and versatile enough to
16:40
host a range of use cases, even if that memes.
16:43
Meme themed art. Now, here my to SATs on this, I
16:47
think that like I mean don't we believe in free markets like
16:53
someone wants to pay you know it's expensive if someone wants
16:57
to pay that too like store you know it's not even the jpeg.
17:01
It's I get I believe it's like a hash of it.
17:04
Like what does it matter to me? Like like if they want to pay
17:08
that sweet, I just don't think it's economically viable
17:11
long-term for you to like continuously do this on the
17:16
Bitcoin blockchain and And I was on PT session show last night,
17:20
and for my understanding, he said that this has happened in
17:23
the past. We're like there used to be like
17:24
this dice game and it used to fill a lot of the block and and
17:30
you know, that was a problem. But what happened is?
17:32
It just became so expensive and I think that this is the same
17:36
story repeating itself. I think we have to be very
17:38
careful when we ask miners to censor and stuff but then also
17:44
this is one of the unintended consequences.
17:47
Of adding features to bitcoin. This is part of the Taproot
17:51
upgrade, right? And the vast majority of the
17:54
community went along with Taproot, they don't have any
17:57
problems with Tap Root and, you know, when you change things,
18:03
there's unintended consequences and this is an unintended
18:06
consequence. And this is why we have to be
18:08
very careful and why bitcoiners are so hell-bent on.
18:11
Let's just leave it as awesome money.
18:14
Like, we know what happens when you go the other, The other
18:17
direction, you start adding a ton of functionality, you create
18:21
a centralized frankenstein-like aetherium right?
18:24
And think about it, right? So if you want to add more
18:28
functionality it requires more resources to run that said
18:31
software and what tends to happen if that if it requires a
18:36
certain amount of resources, then the barrier to entry is
18:39
very high. So if you want to run your own
18:41
Nur node, or your own, just your own computer running that it
18:45
requires a certain amount of hardware, Right?
18:47
That's why Bitcoin is the way it is.
18:49
That's why the block size is the way it is.
18:51
So the barrier to entry is relatively low and anybody could
18:56
buy or build their own node and it's not going to break the
19:00
bank, right? And then that causes
19:02
decentralization versus centralization, so I think we
19:06
have to be very careful, right? And I think this is an example
19:09
of that narwhal. Taco says, ordinals offers
19:12
offers minimal benefits of Bitcoin, but adds extremely
19:15
high-risk Bitcoin can't afford to trigger the blowback, this
19:18
could cause not right now. Like I said, dude, I think that
19:21
the economics are on our side and the think Market forces are
19:24
just going to do with Market forces do like I think this is
19:26
just expensive anyways or nose in its current form wouldn't be
19:31
possible without Bitcoin to an a Bitcoins 2017.
19:33
Seg wit upgrade, and the more recent Taproot upgrade said
19:37
would help scale Bitcoin by introducing a block field to
19:40
hold witness data signatures and public keys, for Bitcoin
19:43
transactions, potential vulnerabilities Force developers
19:45
to impose limits on the size. That data when Taproot came
19:49
along, it resolved, those security concerns allowing the
19:52
old segregate segue restrictions to be removed and Paving the way
19:56
for large chunks of nft data to be stored on Chaine.
19:59
Turns out, it's the perfect foundation for ordinals, the new
20:02
protocol has reignited and old age debate on what their Bitcoin
20:06
should be used for non Financial purposes.
20:08
In 2010, they're synonymous inventor of Bitcoin, Satoshi
20:11
Nakamoto answered with a resounding.
20:12
No, I agree with that long before ordinals a few old school
20:16
Bitcoin. Has floated the idea of
20:18
incorporating a domain name system or DNS into Bitcoin the
20:23
project dubbed bit. DNS was quickly shot down by
20:26
Satoshi quote filing every proof-of-work Quorum system in
20:29
the world into one data set, doesn't scale, Satoshi wrote,
20:33
sealing, the fate of bit DNS, which eventually morphed into a
20:37
separate chain called namecoin with that.
20:40
As the backdrop, some members of the Bitcoin Community are
20:42
characterizing the nft project as an attack.
20:45
Even as others move to embrace it.
20:47
Quote my response to that is, you know, Bitcoin isn't really
20:50
for anything it just exists Radha, more explained quote.
20:54
It has a really transcended the intentions of its creators of of
20:58
its creator. The protocols opponents argue
21:00
that ordinals will compete with traditional payment,
21:03
transactions by crowding, blocks and driving of transaction fees
21:07
rather more disagrees quote to say that I to say to that, I
21:10
say, well there's the fee market pricing mechanism that Bitcoin
21:14
has and that lets people pay them out of Fees according to
21:18
how valuable doing the transaction is to them.
21:21
Quote and that applies, both to financial transactions and to
21:24
inscriptions. And so the market, the fee
21:26
Market already handles what people pay for transactions and
21:29
what they think they're worth and then miners just pick the
21:32
transaction with the highest fees.
21:34
So it all sorts of sort of fits into Bitcoin security and
21:37
incentive model. So tosi's cheating didn't settle
21:40
the debate and two opposing School, schools of thought
21:43
emerged, those who support Financial applications on
21:46
bitcoin. And those Who were against it
21:50
Rod. Omer has poured gasoline into
21:52
the fiery debate with the launch of ordinals quote.
21:55
It's also fair game for miners to censor the crap as a form of
21:59
discouragement said, block Stream, CEO and black stream
22:02
c.e.o Adam back. He later D deleted that tweet
22:06
and he followed with I retracted / deleted that as it was stupid
22:11
and getting a misinterpreted or so.
22:14
I mean look like clearly it's you know, it's It's definitely
22:18
made people feel passionately about this certain subject and
22:23
I'll tell you how I feel like I think Bitcoin should stay doing
22:28
what but again, this is my personal opinion, I think
22:30
Bitcoin should stay doing what it does best and that is the
22:34
best sound as money the world has ever seen.
22:37
I think that if you start adding trade out, like if you start
22:39
adding functionality, there will be trade-offs.
22:42
And I think those trade-offs will inevitably lead to
22:45
unintended consequences. And the more, the more
22:48
centralization of Bitcoin, right?
22:50
The more trade off, the more functionality added the higher,
22:52
the resource, requirement the higher, the resource,
22:54
requirement, the higher the centralization, what makes
22:57
Bitcoin unique versus all the other cryptocurrencies and its
23:01
high decentralization. So that is my main priority.
23:04
That's what I'm looking at it. And I also like I'm not a really
23:07
big fan of and of TS like you can what is it like call control
23:12
C and just do an exact photo copy of it.
23:14
Like what is that about? And then it's like oh Oh well,
23:17
like, it's art on the blockchain, and my response to
23:20
my response would be that. Like you can't copy art.
23:24
Like, if I like bring a Picasso and I'm like, I show this
23:27
Picasso and you're like, oh, I took a picture of it.
23:29
Yeah, that's a picture of the Picasso.
23:31
I'm actually holding the Picasso, like, good luck.
23:33
Trying to copy it, bro. Versus like an N of T is like,
23:36
literally control C. And then you can make an exact
23:40
replica of what it was. You're holding like, the only
23:43
thing you can't like really matches the hash, right?
23:47
But like the actual image of which you're paying for of what
23:52
your so-called storing these things like you can make an
23:54
exact photo copy of it. So like I just think like the
23:57
whole concept but again, this is my personal opinion.
23:59
I'm sure you guys think about it differently, but I think that
24:02
specifically for Bitcoin, we're like what it, like, what is our
24:05
goal here goal is to separation, money and state in order to
24:09
achieve the separation of money and state we need to
24:10
centralization, right? If we need to centralization, we
24:14
want Bitcoin, just doing one good thing, really?
24:17
Well, not as being sound money, unsensible, or hard to censor,
24:22
trust minimized. That's what you wanted to be
24:25
right. When you start adding all these
24:26
things, it kind of, in my opinion, just takes away from
24:29
the original Mission but like that guy that was being quoted
24:33
in the, in the coin, Des article.
24:35
I do agree. I think the the free market is
24:37
going to do its thing and it's just like I just think that
24:41
these things are just so we're going to be so expensive.
24:44
But another, I would say warning.
24:46
Right. Is that a lot of bitcoiners were
24:48
very quick to jump on the Taproot the Taproot the Taproot
24:56
upgrade. And I think this is what I call
24:59
an unintended consequence of adding more features to bitcoin,
25:04
right? Like I, this was if we knew this
25:07
was going to happen with Taproot, do you think the
25:08
community would have accepted it the way they did?
25:11
I don't think so, right. So, I think that this is a
25:14
warning, right? I think that this is a warning
25:17
Into what happens when you try to change Bitcoin?
25:19
I think Bitcoin is good the way it is.
25:21
It's my that's my that's my humble opinion.
25:23
What do you think Opti? Well, I mean, I'm with you, you
25:28
know, I want to separate money from State and other people want
25:31
to put jpegs on the blockchain, you know, like I want Bitcoin to
25:34
be for financial transaction, but it is a permission list
25:37
censorship resistant network. And to me it does seem like blow
25:41
its or some say, it might be an attack.
25:44
I don't know, maybe it's just. What's that one say Saying like
25:48
I'm going to butcher it but it's on the idea of like it, maybe
25:53
it's like Occam's razor. I'm probably butchering it.
25:55
But what you attribute to evil and Malice can may just be
25:59
attributed to stupidity and shortsightedness.
26:02
So like to me, I don't know, I kind of just view this as you
26:06
know, bear Market things, it does seem short-sighted.
26:09
It does seem like a nothing Burger because like this isn't
26:11
anything new really? As far as I'm concerned like you
26:14
said about satoshi's dice like you've always been able to Data
26:17
into the blockchain for a long time and again, this is a
26:19
censorship permissionless Network.
26:22
So like hey, what I want isn't necessarily what other people
26:25
want and you know, who am I had to control the whole network?
26:29
I, you know, I have my views, I run my software and I use
26:32
Bitcoin how I see fit, which other people are going to do the
26:35
same thing. So like, I think the Fremont are
26:37
the fee Market or the free market will price the monkey
26:40
jpegs or what like dick but jpegs or whatever the hell it
26:43
was out of out of the market. But Hey, you know, as we are
26:50
seeing the world dot Bitcoin, people want to continuously put
26:56
put jpegs on the blockchain, I don't know man.
26:59
I'm not really a big fan of n FTS in the first place and so to
27:03
me it does seem like this is an unnecessary addition and people
27:08
trying to do shit coin things on bitcoin.
27:09
But again you know, Bitcoin is permissionless, it is censorship
27:13
resistant. I think this is a nothing burger
27:15
and we really are making You know, a mountain out of a
27:19
molehill and it's just free market things.
27:21
Like, hey, if they want to pay the fee to use the, the Bitcoin
27:25
Network, it is what it is. I'm sure the miners are happy
27:28
out there, but this is bringing up the like forever debate of
27:31
ossification of the Bitcoin Network.
27:34
And, you know, the more things change, the more things, stay
27:37
the same. And it seems like the 2017 block
27:40
war debate is happening over and over and over again.
27:43
And it will continue to happen. So to me, I mean, like I said, I
27:47
think this is a nothing burger and you know just like hey I
27:51
don't think it's anything new. You didn't always been able to
27:53
put data on the blockchain but like I don't know.
27:56
It does seem like blow in my opinion but hey, you know like
28:00
if you want to pay the fees then it is what it is.
28:03
I can't stop you. This is part of the Bitcoin
28:05
Network, this is what it, this is, what happens?
28:07
Amen, Amen to that. All right, everybody quick
28:11
regulatory update. Remember what happened guys a
28:15
quick recap, right? We Add the Senator Elizabeth
28:19
Warren, introduce my fire alarm, just went off, sorry about that.
28:22
We had the Senator Elizabeth Warren, who introduced the
28:25
famous the famous or inFAMOUS depending on who you ask crypto
28:29
bill, right? You had Senator Elizabeth Warren
28:33
introduced with Senator Marshall you had her introduce something
28:36
that would force software developers that are working on
28:39
bitcoin to register with the state to write software, right?
28:44
So you had a lot of bills that Are introduced and clearly where
28:49
I think this is going is they want to regulate the industry
28:53
and, but like I've been saying, like, you can't really regulate
28:56
Bitcoin. Like, you can regulate you can
29:00
regulate the, on, and off ramps, which I think that this is what
29:02
it's actually going to affect, but you can't regulate Bitcoin
29:06
itself, right? Anyways, goes on to say u.s.
29:12
senator Tim Scott, the top Republican on the Senate Banking
29:14
Committee wants to start work on a And Regulatory framework for
29:18
cryptocurrency on Thursday. He said in a Thursday statement,
29:20
the committee should work to facilitate, a bipartisan
29:23
regulatory framework. Said Scott, whose participation
29:26
will be key because the committee would need to clear.
29:29
Any major crypto legislation Scott hasn't addressed his views
29:33
on crypto. So the industry has been eager
29:35
to hear from him. He's now moved into the position
29:39
once occupied by former senator Pat Toomey.
29:41
Now, if you guys don't remember, Pat Toomey was very, very
29:45
positive towards the Re he looked at it in a positive
29:50
light. So let's see how Senator Tim
29:54
Scott looks at it. And he goes on to say, quote and
29:57
recent years, have seen expansive growth in the digital
30:01
assets industry, including an increasing number of consumers
30:04
interacting with cryptocurrencies.
30:07
Well, several high-profile failures resulted in lost.
30:11
Lost consumer assets, exposing relict or regulatory gaps and
30:15
highlighted concerns. If illicit Finance.
30:18
So some be really interesting to see where this goes.
30:22
I think that I think I think that there is going to be
30:25
inevitable crypto legislation. I think it's just a matter of of
30:31
what that legislation is going to be.
30:33
And I think that's really the pendant also in the political
30:36
climate, right? I don't think it's a coincidence
30:38
that a lot of this legislation is finally making moves right
30:41
after the ft x. SB, F blow up.
30:45
Like I don't think that's a coincidence.
30:46
That's right. We know with Caitlin Long's
30:49
bank, right? It was, it was denied right.
30:54
They wait, they waited her out for, like, a year, she sued.
30:58
And then they finally revealed to her.
30:59
I was like last Friday and then it came out also with an
31:02
announcement. Remember that Opti the Friday
31:04
announcer, right. They wait till the weekend to
31:06
release the news, so it doesn't make such a big splash and it
31:09
coincided with a White House. Preferably press release on
31:13
Krypton the crypto industry. So Man, it kind of goes back to
31:20
what I've been saying, right? Which is like the people that
31:22
are responsible for regulating the industry, a lot of them have
31:27
a lot to lose if the industry succeeds, right?
31:30
So talk about misalignment of incentives and I think that this
31:33
is why it's so important and, you know, Corey Clips in has I
31:37
think it's a phenomenal piece and I really think that it's
31:40
going to Define really the next Five, ten years right?
31:45
Which is the race to avoid the war.
31:47
We need this. Local minority in the u.s. if
31:51
you live in the u.s. so that any hostile legislation towards the
31:56
industry will be impossible to pass.
31:57
So really is, it's a race to avoid the war.
32:00
It's a race of adoption, right? Because if you have a lot of
32:02
people holding Bitcoin, then what do you think is gonna be
32:06
very difficult for democratically elected
32:08
politicians to pause pass pass hostile.
32:14
Hostile crypto Bitcoin legislation now towards the
32:16
industry, I can't really touch Bitcoin itself.
32:19
That's a whole other Rabbit Hole.
32:21
Now the one thing I want to important that want to want to
32:24
highlight before I pass it on to Opti, is the importance that
32:28
this stays bipartisan and this doesn't become a partisan issue,
32:33
right? This doesn't become a democratic
32:35
issue or a republican issue, Bitcoin.
32:37
And this is why we try to stay as politically neutral on simply
32:42
It doesn't hurt, it doesn't help, it helps both parties
32:46
equally, right? The left is all about the little
32:49
guy, right? It helps the little guy because
32:51
it's it gives them the ability to save without without the
32:55
basement, which is via inflation.
32:57
And then it helps the people on the right which are more wealth.
33:02
They like to conserve wealth, right?
33:03
Like you know, low taxes stay away from me.
33:06
Sovereign, etc, etc. So it helps both sides right and
33:10
I think that's really important. Also The community of people
33:13
that are unbanked, right? Because they can't afford bank
33:15
account. Bitcoin is for them, it's
33:16
perfect. You just download a Bitcoin
33:18
wallet it's easy, right? So that's the last thing that I
33:22
want to happen, right? Which is just becomes a highly
33:24
partisan issue and then you know whether the Democrats or
33:27
Republicans are in power, you know, the country kind of shifts
33:30
towards this hostility towards the industry.
33:32
So I think it's really important for it to become for it to stay
33:36
bipartisan because I think that is that is ideally where and
33:40
again, it's not a party. Something I don't think Bitcoin
33:43
is a partisan thing, right? So anyways, my to SATs Opti.
33:47
What are your thoughts on this? I know you're going to hit it
33:49
from the more and more, the more militant angle.
33:54
So what are your thoughts? Well, first, I mean, obviously
33:57
Nico, I love your perspective. I think it's a very valid one,
34:02
you know, as much as we talked about on Twitter and in the
34:05
Bitcoin space about, you know, the inferiority of the political
34:11
game in. Adds to an open monetary
34:13
Network. Historically I just I think
34:17
regulations will inevitably hurt technological innovation.
34:20
Historically again this is the case and computer literate to
34:24
the tech. Luddites are going to overstep
34:26
because of their lack of understanding for, you know, my
34:29
protection and to help the citizen out there.
34:31
So I like on the one hand, I think the regulation is
34:35
inevitable, you know, like the politicians are going to pull a
34:39
trick and they're going to find ways to get their grubby.
34:42
Fingers on on the network or at least try to.
34:45
But in my opinion as a Bitcoin or someone that runs a software
34:48
like Bitcoin is regulated every 10 minutes by everyone running a
34:51
node and I'd like to see the free market do its thing.
34:54
But obviously I'm not that naive and I understand that that
34:58
politicians and government officials are going to make
35:01
laws. And again, it just like
35:03
historically we've seen that when officials the bureaucrats
35:09
try to regulate technology. They shoot themselves and their
35:14
citizenry in the foot. So I just really hope that if
35:18
they do do some regulation it. They don't overstep their
35:22
boundaries and they don't stop the Innovation.
35:24
That is Bitcoin and like because we say consistently, you know,
35:28
like Bitcoin is here to help Humanity like it's here to help
35:33
people. And I just hate to see the
35:36
American politicians. I mean, we are Americans.
35:39
I'm an American and I want to see America thrive I want to see
35:42
our politicians do what's best for us as well as the rest of
35:47
the world, but obviously like put America First the meme where
35:50
it's like, let's not shoot ourselves in the foot by over
35:53
regulating this because of the entrenchment of the current
35:57
political system. And and you know, the revolving
36:00
door that is Washington. So, you know, I personally, I'm
36:05
not that hopeful that this is going to not shoot ourselves in
36:10
the foot. But hey, you know, maybe there's
36:11
a Chance that we can have some favorable laws.
36:14
Like, you know, let's just treat Bitcoin in favorable light and,
36:20
and robbed the job, the obstacles.
36:24
But hey, I don't know, man. No, I agree.
36:27
I think and ideal world. That's what we want, but I think
36:30
that, you know, I think politicians that are used to
36:33
basically having this like total control over something.
36:38
I think and I think for them it is going to Be a very tough pill
36:43
to swallow also. Bitcoin isn't jurisdictionally
36:48
dependent or geographically dependent to a certain location.
36:51
So if the u.s. becomes hostile that we always make this joke
36:54
optimi and you all right. I'm like, bro, we're going to
36:56
try to hold it down. But if all else fails we're
36:59
moving to El Salvador. I tell I told my girlfriend this
37:02
too, and she freaks out, but it's like, you know, like, look,
37:07
if they made it illegal, if they 610 to do it fine, El Salvador.
37:11
It is right. Right.
37:13
But obviously, we don't want it to get to that point.
37:16
But what I'm trying to say is that the countries that ban
37:19
Bitcoin are just Banning themselves from Bitcoin and
37:22
they're banning themselves from the benefits of Bitcoin rather
37:25
than making it go away. I mean, look at the drug war.
37:28
Look at like, look at the drug war, like, and now you're trying
37:31
to tell me that like like drugs are physical, right?
37:34
You have to like, carry the packages and you have to
37:36
whatever and they weren't able to do that.
37:37
They weren't able to like extinguish it.
37:41
Now what you're trying, you're making the argument that like
37:44
they're going to try to distinguish this thing that
37:47
lives in cyberspace. Like I don't know, man.
37:51
And then fi you can make the moral argument against drugs,
37:54
right? Key the responsible for deaths
37:55
are responsible for addiction, etc.
37:57
Etc. But like what is the mark more
38:00
argument against Bitcoin? You know, like what is the
38:03
argument there, right? Like I don't know what it is,
38:06
right? So I don't know, I think a
38:07
percentage of the population is just never going to be.
38:11
Okay, with, you know, them doing certain things.
38:16
And I think it's really easy just to run your own node.
38:18
It's really easy to take self custody man and I think that's
38:21
where gold failed because it's so heavy.
38:23
The properties of it is very hard for it for you to take
38:26
custody of your gold and that led to the centralization of the
38:31
custody of gold and just a handful of Banks.
38:33
And that very that made it very easy for the u.s. government to
38:36
seize it with the 610 to order. Remember the 610 to order
38:39
everyone that kind of visions and In their heads like that,
38:43
they just went on people's, they just went people's houses and
38:45
they're like, give me your gold like I'm sure there is examples
38:48
of that, but the vast majority of gold was already sitting in
38:52
Banks and the government is like, now it's illegal for
38:55
citizens to own it and that gold stayed where it's at, you know.
38:59
And then the bank's kind of were like, hey, I'm sorry, it's
39:01
illegal now and they couldn't give it right?
39:03
So yeah, it's is why we talked about the importance of self
39:07
custody, we talked about it so much, we Hammer the point in
39:10
home. Home, right?
39:11
Because if you don't take self custody, like the what happened
39:18
with gold, I think will happen. Again, I think it's inevitable
39:22
to be honest. I don't know, I don't know.
39:24
Just speculating on the future. Who says, I mean?
39:27
Who knows? But anyways, everybody let's
39:31
let's get to the memes. I know it's get to the culture.
39:33
It's get to the culture, let's do it.
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boom, rub the balloon on confiscate a bowl and of course
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specific Bitcoins. Going to be, I'm looking Forward
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to that. So a lots of Bitcoin conference
41:10
is hope to see you guys there. Honestly, opting I met for the
41:16
first time in the flesh out of Bitcoin conference, it was at
41:19
the bit block boom conference. If you haven't gone, I really
41:23
suggest it. If you're looking to get a job
41:24
in the industry, if you're looking to meet some of your
41:27
favorite content creators, some of your favorite bitcoiners,
41:29
some of your favorite authors, you can meet them in the flesh
41:32
and super humble, like don't have a problem with them.
41:35
You can shake their hand, you can have a conversation, verse
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18 of them, you can ask them questions, right?
41:40
And bro, it's it's there's something about it, man.
41:42
There's something about there's something special about Bitcoin
41:44
conferences. I hope to see a lot of you guys
41:47
there. Anyways, Opti, you're trying to
41:49
find your tribe about the conference.
41:51
Starting to Beauty honesty. Yeah, yeah.
41:54
Alright. So ning, the weak strong and in
41:56
the way. So, before I get in guys, this
41:58
is something we talked about consistently and it's very
42:01
fitting after the new segment about regulation.
42:06
I think this is this One of those call to actions that we
42:09
tell you guys consistently you know we start with telling
42:13
everyone to take Bitcoin into self custody using the the
42:16
Bitcoin wallets that we like you know blue Jade cold card seed
42:20
sign of green while it spector's.
42:22
Pharaoh Moon Breeze Pine Phoenix.
42:26
I think I named them all today and I think since it is Friday I
42:30
kind of wanted to not only give you guys some inspiration and
42:34
motivation but kind of refocus. Ation and we talk about this all
42:38
the time. The importance of what we are
42:41
doing here guys, we are trying to separate money from state.
42:44
So while I know I'm Bitcoin Twitter there's a lot of
42:47
skirmishes you know bitcoiners attacking Bitcoins, Bitcoin is
42:50
attacking shit coin or shit. Coin is attacking bitcoiners.
42:53
I think sometimes it's important to refocus the conversation and
42:56
realize what we really are doing here.
42:59
We are battling the the biggest cartel in the world.
43:02
The money cartel like we are in in an information War an War
43:07
against the central bankers, and against the dollar like this is
43:12
the ultimate ultimate should coin, and this is what we do
43:15
consistently. And of course, you know, the,
43:17
the brainwashing of the Fiat world has thoroughly saturated,
43:21
the majority of planet Earth. And most people are so
43:25
indoctrinated by the Fiat system that they can't look outside of
43:28
that system. Look at Ray dalio in the
43:30
beginning. Anyways, I saw this thread by
43:34
Beauty on and I thought it's very fitting because it got me.
43:37
A route up and its back to this idea, I talk about all the time
43:41
in our spaces about having this winning mentality and
43:44
understanding where we are and, and the power that you guys as
43:47
an individual have because you run the Bitcoin software.
43:50
So, let me just get into this thread.
43:52
And we'll, we'll jump back and forth and we'll get Niko's take
43:56
on it. So I'm going to read the thread
43:57
by buitoni goes. I'm not worried about all
44:00
corners or altcoins. They're all going to be
44:02
accentuated and extinguished, by Bitcoin.
44:05
I'm doing everything I can to Make and ensure it happens.
44:09
We have a team of killer nights to ride into battle cleansing
44:13
the world of altcoins and the king of coin.
44:16
The king shit coin. The US dollar only investing in
44:19
Bitcoin companies and using Bitcoin yourself and spreading.
44:22
It will stop all corners and all coins.
44:25
And the final altcoin boss, the US dollar, if you're investing
44:29
in wind farms, expecting this to kill the dollar, you're insane.
44:32
It's like stirring chicken soup to make it rain, you have a
44:35
once-in-a-lifetime chance to Change the world, don't waste
44:38
your energy. Concentrating on the people who
44:40
will lose whether you exist or not.
44:42
Use all your efforts to promote ethical Bitcoin wallet.
44:45
And ethical Bitcoin companies that are working to affect the
44:48
transformation. The Sword of Destiny is in your
44:51
hand. These are the days of the Round
44:53
Table of Heroes and greatness days of Legend, they're like
44:57
will never be seen again. Wield The Sword of Justice and
45:00
cut our enemies down and on this threat on this note.
45:06
Shout out to Mike. Buzz.
45:08
He did this tweet and I absolutely loved it.
45:11
I referenced it yesterday before the show and Nico.
45:14
And it's something that I consistently harp on and I
45:16
really like how he put it goes a negative mental attitude can
45:19
lead to losing. And again, Beauty on commenting
45:23
on this to make an even bigger point because this is true.
45:27
The fact of the matter is that there was nothing stopping
45:29
Satoshi from releasing Bitcoin. Nothing stopping Paul Zimmerman
45:33
from releasing gpg and many many other such cases.
45:37
Has the barrier. Most people faces in them and
45:39
not in the real world. It is the most difficult to
45:42
overcome. This is something I talk about
45:44
consistently is having this Winner's mentality having this.
45:48
I will go through War to ensure that what I am doing will happen
45:52
and not stopping being persistent consistent and
45:55
understanding that we have the tools to literally escape the
45:59
Fiat slavery, and it reminded me of the quote, by Buckminster
46:03
Fuller and he says, you never change things by fighting the
46:05
existing reality to change. Something build a new model that
46:08
makes the existing model Obsolete.
46:11
And my point in all this today guys is to just bring up the
46:15
very basic point that guys, we have the tools, you need to
46:19
refocus your energy and understand that.
46:22
Sometimes we need to zoom out from the forest or from the
46:25
trees to the forest and understand that look our enemies
46:28
are not the shit coiners. They're not even other
46:30
bitcoiners, we are battling the Fiat cartel, the central Bankers
46:34
are the real enemies out there. And those are the ones that we
46:37
Should be focusing our attention on and this is why we
46:40
consistently tell you guys, taking Bitcoin is the
46:42
revolution. The important thing that we need
46:44
to do here is try to get more people taking Bitcoin into self,
46:48
custody more people understanding why we hottel
46:52
Bitcoin, why? The Fiat system is stealing from
46:55
them? Why?
46:55
The politicians are backed by the money printer game, if I
46:59
said in the past, you know the the political game is backed by
47:03
the Fiat game and at some times you know, you might have to hit
47:06
people. The truth.
47:08
You might have to hit people with these facts, but other
47:10
times, you just got to hit people with a good story so that
47:14
they can latch onto why we do what we do know.
47:18
And it's not about being, it's not about like like lying to
47:23
them, it's more about as we sell the time, winning the hearts and
47:27
minds of the masses and this is something that I've been harping
47:30
on a lot. It's being a shining example of
47:32
being a good Bitcoin, and living a good life, some more people
47:35
want to have what you have. Have and then showing them that
47:38
Bitcoin is the reason why you live this life.
47:42
And guys it's just an acknowledgement of where we are
47:44
in the world. We have the greatest opportunity
47:46
to free Humanity from here on out for the rest of human
47:51
history, like take a moment and and let this sink into your
47:55
Consciousness and let that reverberate in every action that
47:59
you do, we are doing something very important here.
48:02
And, you know, people, people can keep people can try to troll
48:07
People can say that we're crazy but Bitcoin is taking back.
48:12
The power of the people Bitcoin is giving you something to build
48:15
towards Bitcoin is giving you a foundation so that you and your
48:19
future children and your family can stop getting robbed.
48:23
Like I think this is the most important thing that we can be
48:26
doing. I don't think we could be doing
48:28
anything more honorable than spreading Bitcoin to as many
48:31
people as possible and having them hold Bitcoin in self
48:35
custody, like we are fighting The biggest war right now and
48:39
it's an information War. It's a peaceful Revolution but
48:42
don't get it twisted. Separating money from state is
48:45
definitely going to be something that we are in for the long run
48:49
and I just want people to you know get focused, get your
48:52
energy right and it's back to this whole idea.
48:54
Like get your mind right, get your body right, get your cold
48:57
storage setup. Correct.
48:58
Because guys, we are in the then they fight you stage, so just be
49:02
prepared and understand, like we will win Bitcoin incentives will
49:07
And they are winning. And the more that these
49:11
corporate press, the more we get bureaucrats and politicians and
49:14
Central Bankers to come out and and denigrate bitcoiners, the
49:18
more I know we are winning and they can try to stop us, they
49:22
can try to stop the Bitcoin network, but you can't ban
49:24
Bitcoin. You can only ban yourself from
49:26
Bitcoin. So as they get how, you know, as
49:29
they have fun staying poor bitcoiners will start to
49:33
accumulate all the resources and we will, We Will effectuate and
49:36
change the The world in real time and it's just an honor to
49:39
be here on the Frontline with you guys and let's just keep it
49:42
going. And Man dude I love that quote
49:50
dude, I want to pull it back up again.
49:53
You never change things by fighting the existing reality to
49:55
change something build. A new model that makes the
49:57
existing model Obsolete. And I look and then kind of tie
50:01
this in with what we were talking about with Ray dalio in
50:04
the very beginning, right? And it's fascinating him like
50:09
slowly coming to terms and then like seeing the Paradigm shit,
50:14
like he sees the writing on the wall but I think he's spent so
50:17
much time in the Fiat. That he can't quite comprehend
50:21
and accept this paradigm shift. That were that we're heading
50:25
into man. Well yeah, I got I agree with
50:28
you. I will never be the same because
50:30
the tell she dropped the Bitcoin software on the world into that.
50:37
All right everybody, let's talk about some memes.
50:39
Lots of memes. The daily meme review brought to
50:45
you by Kaboom racks. I get this question all the
50:47
time. Nico.
50:48
Where should I buy Bitcoin? Miners to answer is Kaboom
50:51
racks. It's the best place to buy
50:53
Bitcoin miners. That's where you're going to
50:55
find the best deals and the best prices start.
50:58
Your mining Utopia today to check out their racks.
51:01
You got to go to T dot me, slash Kaboom racks.
51:04
Join their telegram group and start your mining Journey today.
51:07
Kaboom racks. Kaboom, I love happened.
51:13
I love how we have to say that now.
51:14
Like with one of us has to say enough, great name Kaboom.
51:19
Anyways, guys, this is the meme review as I just said in the
51:23
culture segment, we are in an information point.
51:26
We heard about Kaboom hey they get the best marketing.
51:35
Alright, guys, this is the Me. Maybe This is your favorite
51:37
portion of the show and As I say, I'm literally 21 million
51:42
percent convinced that we are an information War.
51:45
And the way we win, this is by continuously spreading the
51:48
signal continuously reverberating the truth.
51:51
Because the only thing they have on us is the Monopoly on Truth
51:55
by the corporate press and basically flooding you with so
51:58
much noise. That the average person doesn't
52:01
know what's up from down. But this is why we mean, this is
52:04
why we put truth in art. And this is why we, you know,
52:07
ridicule stupid. Ideas with humor because this is
52:11
how the world works. You?
52:13
Hey, I don't make the rules. I just follow them as we say,
52:17
tweet to the bullets, mean, for the artillery, and you guys are
52:19
the Frontline soldiers. Anyways.
52:23
This first mean, shouts out to Greg zaj.
52:25
Greg zaj one on Twitter and this is, this is kind of this is my
52:29
view. We got Always Sunny, we got
52:30
Dennis here and he goes, hey Dee, they're putting jpegs on
52:33
the time chain again and then he goes, I don't care and we got
52:36
Dennis like shit. I don't care either and he just
52:40
goes ordinals like this again, all right?
52:44
On the same vein, shouts out the brine.
52:46
Trolls AKA Bitcoin isn't about you and this is the same.
52:51
I honestly, I didn't know Nico is going to bring up.
52:53
Reynolds again today. I just kind of found some good
52:55
memes and you know again synchronicities and it's working
52:58
out. Anyways, we have another
53:00
Simpsons mean here today, and it's a bus driver and he goes
53:03
don't make me tap the sign and he Taps the sign.
53:06
And this is a tweet by by Brian and goes.
53:09
If I hear one more idiot as what if someone puts a bad picture in
53:13
the blockchain, you have always been able to put random data and
53:17
pictures on the blockchain. You literally cannot stop.
53:20
It Bryan, scholz gets it. Anyways, the next me Me Matt,
53:23
bold, Bitcoin. He goes.
53:24
Hashtag Bitcoin isn't going to a million.
53:27
The dollars. Dropping to a Satoshi of bars.
53:30
Anyways, this is the Drake meme and we got the Drake No hotline.
53:34
Bling going Bitcoin is going to a million and he goes, no Drake
53:38
going. Yeah, the dollar is dropping to
53:40
a Satoshi soon soon, very, very soon.
53:44
And this next means shouts out the 21 JC LP, and he goes hot,
53:48
or our portal to a better future.
53:50
Hashtag Bitcoin 24/7. And Can see the hot oil portal
53:55
of Bitcoin going into a brighter better future.
53:58
This is what happened. When you had all those Bitcoins,
54:01
this is what happened. When you go into the Bitcoin
54:03
Rabbit, Hole your whole life changes and hopefully you become
54:07
a better person. Anyways, this next one chefs out
54:09
to online hotter. I thought this one was
54:11
absolutely hilarious. Because yesterday rested and
54:13
Nico and I were laughing at Gigi doing.
54:16
What was it? What's the show?
54:17
Like hard money, or something hard money conversation with
54:20
Matt Odell? No, no, no.
54:22
What is it? That's this.
54:23
That's this one show. No, that's it was called
54:26
somebody is the Bitcoin magazine show?
54:28
I forget that, I swear to you. I swear it was hard money,
54:31
something. But anyways, I just want you.
54:33
All right, whatever. Anyways, the meme is here.
54:36
I'm looking, yeah, you could look it up, why I cover this
54:38
Meme and okay. So online Halo goes Normie, show
54:42
me. Something that will help me
54:43
understand Bitcoin. Something a regular Joe can
54:46
watch to know. Bitcoin isn't just for criminals
54:48
me. Sure, here's my friend, Gigi
54:51
with a pillowcase. His head and glasses and a peak
54:55
TCP server hat on. Oh man, I love this one because
54:59
yellow Gigi's, one of my favorite bitcoiners, but like
55:02
I'd be lying to you guys. If I didn't acknowledge the
55:06
fact, if you showed a normal person, this picture the be like
55:08
what in the world is God, is that a pillow?
55:13
I think it is shut though. The GG man is so funny, takes
55:17
his privacy serious. Did Shots Out The gg-go?
55:20
Go did with the sauce. Did you find the show?
55:24
Nico. Did you find this?
55:25
Yes I did. So it's so the the swan shows
55:28
called we know that one. What is happening now and the
55:31
new show from Bitcoin. No, I'm just trying to clarify
55:34
it. Okay.
55:34
The new show from Bitcoin magazine, it's called Freedom
55:38
money, okay. I think that'll Dell is hosting
55:40
that so awesome. Just to, just to be specific.
55:43
Both shows are awesome. Appreciate it, appreciate it.
55:48
So, I was kind of close. I was kind of close.
55:50
Alright, anyways, this next me. Is by the BTC therapist again,
55:55
he's killing it in the meme game and he goes hashtag, Bitcoin is
55:58
a journey and we got some steps here and we gotta you know a
56:01
businessman at the bottom going inflation is killing me.
56:05
And then the next step where Ray dalio is what is money.
56:08
And then the next step, wait, what is bitcoin?
56:10
And he's starting to think in Bitcoin and then he's got a
56:13
little briefcase and he goes first Bitcoin purchase and then
56:16
a next step and goes unit of account.
56:18
And then the next step, where he is the Victor on top holding
56:22
one, Whole Bitcoin, shouts out to you therapist.
56:26
This is the Bitcoins, hero's journey and they showed that the
56:29
dark:, he tagged me in this this morning and of course I had to
56:32
put it in. This is a mean by at Hot on
56:34
never saw it. Only goes how cold is your
56:37
Bitcoin cold storage and you can see here that it's an office
56:41
that's just completely snowed out completely iced out.
56:45
That's how cold you're cold storage, should be literal.
56:51
Coldfoot On that vein. On that Vein, on the vein of
57:02
cold storage, I'm going to give it one glove that I wear on my
57:08
morning walks. When it's very cold out there,
57:10
you know, keeping my hands warm while I'm holding the cold
57:14
storage. I'm going to give it a dancing
57:18
squirrel. That's my score.
57:20
My score is a dancing squirrel. Boom, boom, anybody.
57:24
Anyways, everybody, this is simply Bitcoin Live While You
57:27
Drop Your Meme scores in the live chat.
57:30
I want to tell you guys about our awesome merch sponsor
57:34
represent LTD.com it makes simply Bitcoin were chopped.
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He's wearing the the the piece bombs.
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Love that lip balms. Truth bomb proof on Truth.
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Bombs the The hoodie version of that is sold out.
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There's there's t-shirts left. Also, we got, we got a got hats
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Anything off the represent, LTD.com store anyways, Opti,
58:05
let's get through. Let's get through some scores.
58:09
First one by internet. Sophie I give the memes a
58:12
vibrating. Tempur-Pedic, I am very unlucky.
58:16
Okay. Okay.
58:17
I'm looking forward towards the vibrating Tempur-Pedic.
58:20
That sounds really big. Is that coin?
58:26
I give the memes, I bonds, just buy Bitcoin.
58:30
All right, next one, we got Hammer saw.
58:33
I give the memes a Bitcoin ski mask, very, very nice.
58:37
Very, very nice. Next one, The pman Vanna give
58:41
the memes bashing Bitcoin, while promoting Bitcoin parenthesis
58:44
kept it clean today, very, very nice.
58:48
Next one by Igor, I give the memes of the Lonely, dancing
58:52
squirrel and Ray dalio his head, that keeps whispering to him.
58:56
You don't have enough big hunt. That's why he's saying that Phil
59:01
see, I give the memes mongers, dirty diapers.
59:04
Yeah, very, very nice. A Frank arnai give the memes one
59:10
floaty, Unstoppable, Chinese. Hold on, hold on, hold on this
59:13
next one. This next one is in the score
59:15
but I want to I want to highlight it anyways.
59:18
Aw See, the Michael Jackson of Bitcoin with his one, glove
59:26
Kumo, shout-out Kumo. One of our awesome writers.
59:30
By the way, I give it a copy pasted, Microsoft Paint, wizard.
59:35
Very nice. Justin Griffin says, I give the
59:38
memes Nico ignoring his fire alarm the same way with aliens
59:41
ignoring facing that is hilarious.
59:47
All right. Narwhal tacos.
59:49
I give the memes a better world for our children Bitcoin.
59:52
Very nice. Let's go.
59:54
Luke T I give the meme Charlie munger's life insurance premium.
1:00:00
Oh man, Josh Alex, I give the memes, a Chinese, spy balloon
1:00:03
and its cost of inflation. All right, I'm putting this one
1:00:07
in just because I really want to know of Mika knows what this is.
1:00:11
I give the memes a blumpkin. I don't know.
1:00:13
But it sounds familiar. Perfect.
1:00:17
Perfect, perfect. Last one, Edgar?
1:00:21
See I give the memes a 4 MB Monger monkey ordinal.
1:00:25
Jpeg become my favorite part of the show.
1:00:31
Alright also guys, check out, Simply Bitcoins telegram group.
1:00:34
Shout out to Darth coin, holding it down.
1:00:36
Go to www.ah.mil /, simply Bitcoin TV is absolutely free.
1:00:39
It's partying there. Also check out Simply Bitcoin
1:00:42
unfiltered WW2 coin down uses a written version of this show.
1:00:45
Shout-out to our awesome Riders are so many of you guys.
1:00:48
Guys now dropping the signal drop in the signal.
1:00:52
Love all you guys. Anyways, everybody software or
1:00:55
website it is Friday so I guess it's.
1:00:59
Yeah, it's it's shots on to everyone on Fountain.
1:01:03
It's websites. I guess it's plebiscites.
1:01:09
Wait websites. Where is there?
1:01:11
No, audio on that one. Anyways anyways anyways.
1:01:13
All right, guys, first and foremost, I told you guys this
1:01:16
this week that if you guys clip us on Fallon, I will bring them
1:01:20
up and I remember that we did have one this week.
1:01:23
So shout out to Mark Jones 41 on Twitter.
1:01:26
He did a fountain clip of dr. Jeff Ross, dr.
1:01:30
Bull on bitcoin dr. Bull goes from bear to boil on
1:01:35
the show, you guys, honestly, I think the first 20 minute, like
1:01:38
the whole in. Our view is absolute fire, but
1:01:40
that first 20 minutes of dr. Jeff Ross explaining, his bull
1:01:45
thesis for why he is turning bullish.
1:01:47
I think is, is a must listen, for, not only bitcoiners out
1:01:51
there, but to give to your Normie friends that are on the
1:01:54
fence. So, again, I can't cover
1:01:58
everything, but appreciate to all you guys straining a SATs.
1:02:03
I I couldn't cover every single stream because you guys are, are
1:02:07
are blowing us up in a good way. So I took I took as much as
1:02:11
possible so that I get everyone's name here and we'll
1:02:14
cover them right now. So first we got some nine set
1:02:18
streams by user. Seven eight, nine zero, eight
1:02:21
three, nine three, four, seven, seven 3000 68 and this is a
1:02:26
episode 658. Michael sailor, Bruce Jamie
1:02:29
dimon. Next, we got some 14 set streams
1:02:32
by Clark and shout out to you. I think you might have been the
1:02:36
top streamer this last week. And these were on at least just
1:02:41
last stream was on dr. Jeff Ross.
1:02:42
Bullish on bitcoin simply Bitcoin.
1:02:45
I arouse some more from user 7, 8 9.
1:02:48
Alright, next page, again some more Clark Ian stream, shouts
1:02:53
out to you bro. And user 7, 8 9.
1:02:57
I thought, I thought I'd clean these up a little bit.
1:02:59
But anyway, shout out to you bro.
1:03:00
And then we got some 9 set streams from how was right on,
1:03:05
simply Bitcoin. How was right?
1:03:07
Shouts out to you guys. Next one we got user 1310. 96 18
1:03:13
to 1 2 8 4 3, 7 4 and this is on the dr.
1:03:17
Jeff Ross. Bullish on bitcoin simply
1:03:19
Bitcoin IRL and he goes for some reason. 100 SATs looks like a
1:03:24
hundred dollars to me when I have to spend it.
1:03:25
Sorry, Nico shot, do you bro? All right.
1:03:30
This next one is an on-set stream.
1:03:33
Well there's a couple by rag 3 underscore AF and these ones
1:03:38
were on I sewed 667. Europe's de facto open source in
1:03:43
parentheses Bitcoin been. Okay, let me get to the next
1:03:46
page. Again, some more by random user
1:03:49
13 1096 1821 284 3749 set streams on episode 668.
1:03:57
Charlie Munger calls for Bitcoin ban.
1:04:00
This next one a 475 stat Boost from Darth coin.
1:04:04
Shout out to you bro. And this was on the again dr.
1:04:08
Jeff Rashmi. Lashon Bitcoin, simply Bitcoin
1:04:10
IRL excellent. IRL Berry good points.
1:04:13
Again guys, go check that one out.
1:04:15
If you aren't bullish, go, get bullish.
1:04:18
And this next one. Again I know I said I'm trying
1:04:20
not to double to double the the comments but shot the dog coin,
1:04:25
632 sads, boost income and comment he goes here's the 666
1:04:32
ads because you skipped the evil episode of 666, really funny.
1:04:35
That Jack broke the wall of the Satoshi with promoting notch.
1:04:38
Stir to shit corners. And I think this last user, I
1:04:43
think I might have named him. But anyways, user 1310, 96 18,
1:04:47
284 3740. No, no, no.
1:04:54
All right guys, thank you so much for joining us another
1:04:57
episode of Simply Bitcoin IRL, find us on our Audio.
1:05:01
Only anchor Spotify, Apple Fountain and appreciate
1:05:06
everybody who's joined the valley for Value economy.
1:05:08
Screaming assets, love you all guys.
1:05:11
I hope you all. Enjoy your awesome weekend.
1:05:15
If you enjoyed the content, make sure to hit that like button and
1:05:17
consider subscribing. If you feel like we provided you
1:05:19
value, the number one thing you could do to help this video and
1:05:22
happened. In fact, help all Bitcoin
1:05:24
content is share the content, get it out there, get it out
1:05:27
there to share it. Text it to your friends, orange
1:05:30
peel them. That's how we push the peaceful
1:05:32
Revolution forward. Anyways, we'll see you tomorrow
1:05:35
for a brand new episode of Simply Bitcoin IRL.
1:05:38
We Have awesome. Sorry.
1:05:40
Simply Bitcoin live. See you on Monday and we have
1:05:42
simply Bitcoin RL lined up for next week as well as T t0 and
1:05:46
rusin is going to be dropping some clips over the weekend and
1:05:49
we have a new video essay tomorrow premiering at noon.
1:05:54
Love you all have a great weekend and we'll see you Monday
1:05:56
morning these out.