Latest / Simply Bitcoin / Proof: Jerome Powell ADMITS Bitcoin is WINNING | EP 509

Transcript

Proof: Jerome Powell ADMITS Bitcoin is WINNING | EP 509 · Simply Bitcoin

0:04
Welcome back everyone. We're simply Bitcoin.
0:07
This is the weekend edition. We break down the news.
0:10
The daily fail mean review, software releases Hardware,
0:14
releases and the pleb sites. Joining us today.
0:18
We've got the CEO and co-founder of LOL e.com.
0:22
I'm talking about Alex Adelman, Alex, thank you very much for
0:25
joining us. Good to be here.
0:27
Thank you for having me. Awesome, yet.
0:29
Great way to Kick off the weekend.
0:30
Alright, we are diving into the numbers.
0:33
Let's do it. Nico number time, brought to you
0:35
by not all they make some of the best Bitcoin notes like the
0:38
novel won, the one. I'm holding in my hand run
0:41
Whirlpool, Bitcoin core and the lightning Network, all in the
0:45
comfort of your own home. Remember guys, if you don't run
0:48
your own Bitcoin node, you're using someone else's.
0:50
So get yourself a Bitcoin node today, like the nozzle, at the
0:53
time of this recording, the block height is 740, 1189 the
0:57
Bitcoin price 20,000 for 420 anyways, chain rewrite day 746.
1:05
Total public lightning capacity, 3990 1.16 Moscow, time 48, 97
1:12
blocks to the having 90 8811 and the samurai Whirlpool unspent
1:18
capacity, Samurai Whirlpool is a coin joint or collaborative
1:21
spend, it is not a mixing service and the unspent capacity
1:25
for that pool is 4675 Dot. 33, B TC.
1:33
Still a stable coin, Nico. Even at this level, I'm still
1:36
gonna call it, I'm still gonna say it's a stable.
1:38
Quite I know people are gonna hate me for it, but it doesn't
1:40
matter. These were the uneventful
1:42
numbers my friend. It was a stable coin for quite a
1:44
while when Bitcoin was at 30k. Anyways, some signal today.
1:49
Listen I think central Bankers are admitting defeat or at least
1:54
they're not admitting defeat but at least they are seeing the
1:58
inevitable let me make my case. Okay let me make my case
2:02
anyways, let's pull this. Bye.
2:05
This is an article by Watcher dot Guru.
2:09
It says Fabio Panetta, a member of the of the European Central
2:12
bank's. Executive board says that the
2:14
supply of digital Euro will be limited to a maximum of 1.5
2:20
trillion. Why would they cap something?
2:24
What is that? What is that sound familiar of?
2:26
It looks like to me, they're trying to incentivize people.
2:29
Hey look at Bitcoins 21 million off Central bankers.
2:33
Do the same. We know that's not true.
2:35
As soon as there's a little bit of political pressure, they will
2:39
increase that Supply, but it sure he'll is a good marketing
2:43
tool. We also had this come out today.
2:47
This was a video clip I disclosed on TV.
2:50
They do a great job by the way and this is Jerome Powell.
2:54
Let's see what he has to say. The Tweet says Powell rapid
2:56
changes are taking place in the global monetary system that may
2:59
affect the international role of the dollar, a US Central Bank.
3:03
Digital And C is being examined to help the u.s. dollars
3:06
International standing. Looking forward.
3:09
Rapid changes are taking place in the global monetary system
3:12
that may affect the international role of the dollar
3:14
in the future. Most major economies already
3:18
have or are in the process of developing instant 24/7 payments
3:22
our own fed. Now service will be coming
3:25
online in 2023 and in light of the tremendous growth in crypto
3:29
assets and stable coins, we are examining whether a US Central
3:33
Bank Digital currency would improve upon what is an already
3:36
safe and efficient domestic payment system.
3:40
Our as our white paper on this topic notes, a USC.
3:43
BDC could also potentially help maintain the dollars
3:46
International standing look. These people have never had
3:50
competition and you can tell they've never had confidence
3:54
hit, but listen, if you connect that with what Powell was saying
3:58
and you connect that with what the head or member of the ECB is
4:02
saying, right? This Innovation that they're,
4:06
you know, the Central Bank, digital currencies to try to
4:08
remain the hopes that they try to remain relevant.
4:12
This would have never happened if it wasn't for Bitcoin.
4:14
So clearly they're feeling pressure here.
4:17
I don't think they're going to win, but that doesn't mean
4:21
they're gonna, they're not going to try and of course because
4:23
their central banks, they're going to have the help of
4:25
government coercion. Anyways, Alex from your
4:28
perspective, are you seeing what I'm seeing or I might just a
4:31
crazy pleb on the internet Both are true.
4:35
But I think that most important thing here is.
4:39
Yeah, I think I think for the first time ever Fiat has for the
4:44
first time in a long time, Fiat money has a competitor, very
4:48
formidable, competitor, in Bitcoin and other
4:51
cryptocurrencies that are that are challenging it right now.
4:54
So I think one of the most interesting things right now is
4:56
that everyone is seeing that like in this time of chaos with
5:01
Bitcoin provides a source of truth that there are only 21
5:04
million dollar only ever be 21 million and in a world of
5:08
uncertainty and Chaos, I think it's something that people are
5:11
going to be looking towards, especially the more that the FED
5:14
prints trillions and trillions of dollars to try to correct.
5:20
You know, the things that are happening on the more than
5:23
macroeconomic lens. I think it'll just get, it's
5:27
going to get even more wild. And I think more and more people
5:30
are going to have to learn about Bitcoin and Retreat to bitcoin.
5:34
As a stable source of currency. Absolutely.
5:39
It it would have, it would have been impossible to manage.
5:44
Imagine these people, you know, II feel fear.
5:48
Like, that's what, that's what I sense here with the, with the
5:51
wording, you know, with Powell kind of like, oh, you know, with
5:55
our Central Bank, digital currency, you know, because
5:57
crypto payments have been so popular to quote him, right?
6:01
That's how we're going to remain relevant.
6:03
But look, it's something that Bitcoins will always be able to
6:06
do and they cannot write is that Coin won't censor and their
6:09
Bitcoins capped at 21 million and that's something that
6:12
government currencies will never be able to offer anyways.
6:16
But what are your thoughts on on that reaction, that video by
6:21
Powell and the ECB saying, there's going to be a one point
6:24
five trillion, dollar cap watching, but why do you believe
6:28
them? No, and watching him Shake,
6:31
while he's reading that it's like holding that paper.
6:34
It's you know, you can tell even he's not sure about this but
6:37
look You know, just to go back to the original point about the
6:41
hard cap, right? Hard cap, Fiat is like stopping
6:44
a leak with a strainer. I mean, really, but this is just
6:47
Shenanigans its Illusions. It's still centrally controlled
6:51
unissued, we haven't removed the human factor.
6:55
I mean, look, this is, it's nothing else than a gimmick.
6:59
Plain and simple, it is just a gimmick.
7:03
And essentially, what's really funny is because I'm pretty sure
7:08
that We've had we've had people in the past explain how you
7:13
can't have a hard cap currency, you need to continue to print
7:17
more money. So all of a sudden because
7:19
remember their goal posts, just keep moving.
7:21
So now all of a sudden they're trying to, they're trying to
7:24
think like, you know what, maybe maybe this is how we get people
7:28
to come back in and buy into our system.
7:31
Guess what? This is the beauty of Bitcoin.
7:34
No Central entity. No central point of failure.
7:38
We don't need to trust your hard cap.
7:42
We just don't need to trust it. That's the beauty of it.
7:45
They still don't get it. They're securing the remote.
7:49
They're more scared now than ever.
7:51
And to me, this is just entertaining and funny at this
7:53
point. Dude, it's it's absolutely
7:57
hilarious to watch this meltdown but like an animal trapped into
8:01
a corner, that's when the most fish is.
8:03
So I suspect the social attacks and perhaps regulatory attacks,
8:08
even though that lummis bill makes me optimistic are
8:11
definitely going to increase as time progresses and Europe.
8:14
It's a little bit more hardcore than it is in the u.s.
8:17
So anyways, you protect yourself from this by taking your Bitcoin
8:20
into self custody which we advocate for every single day on
8:24
this channel. But anyway, Phil it's time for
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8:55
Dot-com do you guys remember this?
8:57
Of course you guys remember this?
8:58
Because we've been covering it a lot of made huge splashes on
9:02
bitcoin Twitter. This is the New York is New York
9:06
Senate, New York state passed the bill cracking down on
9:10
Bitcoin mining. Now our perspective about this
9:13
is a little bit more malicious. The reason that we believe that
9:16
first of all, because we've been covering it for over a year now.
9:19
And in Norway some parties over there, some political parties
9:23
over there also Transit try. To ban Bitcoin mining but
9:27
interesting issue interestingly in Norway 100 percent of Bitcoin
9:33
mining is powered by renewable energies.
9:36
So you know, begs the question are these people really
9:42
concerned about the renewable energy that Bitcoin uses or are
9:47
they saying? This is an unjustified use of
9:50
energy? Therefore, we have to ban it.
9:53
Now, this I would say this, this groundbreaking report was just
9:58
released by Michael Kazakh. Name of the report is called
10:03
Bitcoin, crypto payments Energy, Efficiency and does a whole
10:08
report. And he says, based on physics
10:10
information, science and economics.
10:13
We compute and compare the energy consumption.
10:15
And Define, what is the Energy Efficiency of both?
10:18
The current monetary payment system and Bitcoin crypto
10:20
payment system, we demonstrate that Bitcoin, consumes 56, Times
10:25
less energy than the classical system and that even at the
10:29
single transaction level a proof-of-work.
10:30
Transaction provides to proves to be 125 times.
10:34
More energy. Efficient here is a coin
10:38
telegram, going Telegraph article and it covers more gets
10:41
more into the intricacies. The report compiles, almost a
10:46
four year, four years of research and suggest a new
10:48
calculation for estimating, Bitcoins, proof-of-work energy
10:51
consumption in an interview because akka told Cohen Cohen,
10:55
laughs Bitcoin lightning and Bitcoin in general are really
10:58
great and very efficient technological solutions, that
11:01
deserve to be adopted on a large scale.
11:03
This invention. Invention is brilliant enough.
11:06
Efficient enough and powerful enough to get Mass adoption a
11:09
payment specialist who wrote his dissertation is about
11:12
cryptography in 2003 and discovered Bitcoin in 2011.
11:16
Kazakh also puts the banking sector under the microscope to
11:19
efficiently. Compare the two monetary systems
11:22
because socket old coin Telegraph, he really It's really
11:26
underestimates. Every aspect of the big of the
11:28
banking sector and contrary to critics, his report is biased to
11:32
the banking system nonetheless, taking to account the creation
11:35
of money, Transportation money, physical banking,
11:38
infrastructure, energy consumption.
11:39
He arrives at a figure of 4, 1981 terawatt-hours.
11:44
Rounded up to 5,000. Terawatt hours, is consumed by
11:47
the classical payment sector every year.
11:50
Consequently banking uses 56 times more energy than Bitcoin.
11:56
And he goes on to talk about lightning.
11:57
Lightning will allow the Bitcoin protocol to be more transactions
12:00
without consuming more energy. The report concludes that the
12:04
combination of Bitcoin and the lightning Network allows Bitcoin
12:07
to become 194 million times more energy efficient than a
12:12
classical payment system. So I actually tweeted this out
12:19
about a month ago. I when the initial New York
12:22
mining band happened and I was actually attacked on Twitter by
12:26
someone send me a DM saying the Bitcoin needs to be moved out of
12:29
the country. Bitcoin mining, just crazy stuff
12:33
and I was, Hey listen. If you're gonna ban Bitcoin,
12:36
mining are, if you're going to hold Bitcoin, mining to a
12:39
certain environmental standard, you should be holding the
12:42
banking sector to a Stern. An environmental standard.
12:46
But as Nick Carter perfectly pointed out in his reports,
12:49
right? This is a question of.
12:52
Do you see as B? Do you see?
12:55
Join as a Justified reason to consume energy or not.
12:59
If you if you see it if you don't see it as such it's not
13:03
they're not going to see it as such, right?
13:05
Why don't we hold the banking system to the same environmental
13:09
standard? Why don't we hold hair dryers to
13:11
the same environmental standard, right?
13:13
So look I I doubt this will be used because it doesn't fit
13:19
their narrative, but it's really interesting and it's definitely
13:22
a good question, right? And if you're in the United,
13:25
It's you have Financial privilege what Alex glycine
13:28
always says, right? But if you're in a country like
13:30
Venezuela, like Afghanistan like Cuba, and there's no other
13:34
option, there's not another alternative monetary system that
13:37
you could use well, right Bitcoin.
13:39
Really works for you right and stable coins, right?
13:41
They really work for you, well, right?
13:43
But if you're in the u.s. right and you have financial problems,
13:46
you might be looking at Bitcoins.
13:47
Like that's just a very inefficient use of energy,
13:50
right? And then of course, there's a,
13:52
you know, the what we believe but of course we're a little
13:54
bit. Bye.
13:55
Bias because we're plebs, right? It the malicious attacks, right?
13:58
That they don't really care about the environment.
14:00
There's more so concerned about control.
14:02
Anyways. Alex what are your thoughts on
14:04
this? I'm sure you're opinionated
14:06
about this because you you do run a Bitcoin company.
14:09
Of course I do. I've been very outspoken I live
14:13
in New York and incredibly frustrated.
14:16
I was incredibly and frustrated with bit license and and have
14:20
been frustrated that it stayed as long as it has and with no no
14:24
changes. Has its really crippled the
14:28
financial Hub of the, of the world being being New York.
14:32
We, you know, we had this opportunity to continue the
14:36
financial Innovation and financial dominance that New
14:40
York has been known for and and due to the like Regulators
14:45
incompetence, we have continued to move people out of the, in my
14:50
opinion, but I think one of the greatest cities the world's ever
14:52
seen. And so the Where we kind of go
14:56
in, you know, from here. It's like I thought we were, you
14:59
know, Adams was coming in and I think he was talking about
15:02
banning the bit license and and doing what, you know, some some
15:06
getting to a place where we were, you know, able to be more
15:09
crypto friendly place and then this comes out and hi.
15:13
I'm I was I was extremely extremely upset by by this it's
15:20
just you read it and you read who's behind it and it's just
15:23
gross. Incompetence.
15:25
Not only is it is it hurting the people of New York, but it's
15:30
like it just it made no sense. There wasn't it?
15:33
Had no understanding of stuff. You could just literally Google
15:37
that's happening. It's not accounting for flag
15:40
theory. That is playing out before our
15:41
very eyes of people going to Miami going to Austin like
15:45
fleeing starting companies in Texas.
15:47
It's like it's like we want all the the smart entrepreneurs that
15:51
are trying to build something real in New York.
15:55
Art. And we're just saying, hey, you
15:56
know, we don't want you here go, go somewhere else to go build
15:59
this this technology that's connecting the entire world
16:01
through money and commerce. Like that to me is the most
16:04
important thing to be built in financial technology.
16:08
We all understand what it is, we have some of the smartest people
16:10
in the city and we're saying hey go go build somewhere else.
16:14
So really really unfortunate doesn't doesn't grasp the beauty
16:18
and power of Bitcoin and Mining in particular.
16:22
So, you know, one of the one of the biggest things is It says oh
16:26
we're trying to find. We're trying to regulate and say
16:29
the only way is which you should start Bitcoin, mining companies
16:32
in New York is if you if you are filing that that the only
16:36
sources of energy are Renewables that are coming in but it
16:40
doesn't account for the fact that like, you know, how much
16:42
wasted energy and is happening on grid that we could be turning
16:47
into money to help save the economy in New York, which was
16:52
crippled after covid. So it doesn't it Out for that,
16:55
which, you know, it would be an incredible Force for the average
16:58
person for companies to be able to make money and turn waste of
17:01
energy into something beneficial.
17:04
So, yeah, a lot of bad, a lot of incompetence and it's very
17:08
frustrating from being a, being a Founder.
17:10
Who's building? Trying to build something very
17:11
real in New York. I agree with you.
17:14
I think I lived in New York for a little bit.
17:16
I think New York is the best city in the world, right?
17:19
Manhattan is such a unique experience, such a Vibe and
17:24
yeah. It's a shame that certain
17:26
politicians not only in New York, but around the world are
17:30
attacking attacking this Innovation that is going to
17:34
provide Financial inclusion to 50% of the planet, right?
17:38
It's unfortunate to say at least anyways.
17:40
Phil, what are your thoughts before we move on to Lolly?
17:44
I think it's I think it's incredibly hypocritical and
17:47
maybe and and you know what Alex said, you being in New York,
17:51
possibly correct me if I'm wrong but I'm pretty sure that New
17:53
York has access. S2 a lot of hydroelectricity, I
17:58
know that up in Canada, specifically Quebec.
18:01
Well, let's just leave it at Canada.
18:03
Has I think the most natural water resources in the world?
18:07
And if I'm not mistaken, New York is bordering along there
18:11
and also has access to the similar Water Resources.
18:14
So the fact that hydroelectricity just seems to
18:17
get completely ignored, is I find strange and and just kind
18:23
of cringey. I mean, You think that's such a
18:26
powerful business Hub, would be all-in, on figuring out how to
18:31
get this to go, how to get this to grow, and how to essentially
18:35
be part of the next Revolution. And I just I'm, I'm confused.
18:42
I am really, I truly am confused with what's going on in New
18:46
York, especially as a kid growing up.
18:48
Like, you know what people don't realize is that.
18:52
You know, a lot of cities will Market themselves right as
18:56
Financial hubs as Innovation hubs and stuff like that.
19:00
And being, you know, being originally from Montreal, you'd
19:02
always hear about New York City, right?
19:04
Like if you want to go somewhere, you want to be
19:06
somebody, right? You're gonna go to New York,
19:08
right? It's the city that never sleeps,
19:10
there's all this opportunity and then I you know, we enter
19:13
Bitcoin and it just seems like it's a whole bunch of of moats
19:18
and walls and like no, no, no, no, we're keeping that out of
19:21
here, and it Just seems like this has really nothing to do
19:24
with business. And this has to do with
19:27
political incentives. But again, I digress.
19:30
I'm not a politician. It just doesn't seem like.
19:32
This isn't really a business idea.
19:36
And this is much more a social control idea.
19:41
Totally agree and you're totally, right.
19:43
I was just, I knew that New York was a have a lot of hydropower.
19:48
I didn't realize how much it's even more than I that I thought
19:51
it. This this status pretty fun.
19:53
It's the the highest producer of hydropower east of the Rocky
19:58
Mountains, so pretty. Pretty wild, it's typically
20:04
Seventeen, Seventeen percent of the total electricity is from
20:08
hydropower. So that's that's pretty
20:10
incredible. And we know a lot of that is
20:12
just wasted because there's nowhere for or a lot of it to go
20:17
and and also keep in mind that the taxpayers paid for that to
20:20
be built which cost billions and billions and billions of dollars
20:23
to create that hydropower. And now now the taxpayers can't
20:28
put that into arguably one of the best businesses of all time,
20:31
which is, you know, being a Bitcoin mining company in a
20:34
place that, you know, we paid for so really unfortunate,
20:38
really just gross. Incompetence and And yeah, we're
20:42
just turning away smart people. I completely agree, it's
20:46
unfortunate. But the better is what you said,
20:48
the better flag theory is playing out before our eyes and
20:52
unfortunately cities and countries that don't adopt
20:54
Bitcoin. Or you know what we say the
20:56
Pledge. Say are going to have fun.
20:57
Staying poor, hopefully Jack, hopefully New York, wakes up to
21:01
that. Anyways, let's talk about Alex's
21:03
company Lolly, you guys know the deal any company or any Bitcoin
21:08
service that we bring on the show.
21:10
We've We use ourselves. I used Lolly sometimes to do a
21:14
little bit of online shopping. Give some SATs back, which is
21:17
always a good thing. So Alex why don't you explain
21:21
what Lolly is? Yes so we've created the leading
21:24
Bitcoin towards company. We give people free Bitcoin when
21:27
they shop online at over 1,000 different.
21:30
Merchants we make it, we're trying to make it incredibly
21:33
easy to get into Bitcoin and trying to change it up a little
21:36
bit. I think when I got into Bitcoin,
21:38
there were the only real ways to do it with remaining.
21:41
And investing and most of the world doesn't invest, you know,
21:44
we can sit here all day and say, go buy Bitcoin, go buy Bitcoin,
21:47
go learn about it but in the day you're taking hard-earned money
21:51
and putting it into into Bitcoin and it is it is a big leap and,
21:55
you know, we're 13 years into Bitcoin and it's still bizarre
21:59
to me that every person doesn't have it because it's like of
22:01
what we what we know about it. So it's it was a hard task.
22:04
I think to teach my friends, my family about Bitcoin, the thing
22:08
that I was building previously Was a company called Cosmic.
22:12
We built one of the leading shopping and payments
22:15
Technologies in the world. We were the creators of the
22:18
dynamic by button. So what we were sitting there,
22:21
we're learning the reward space and I was like, wow, this would
22:24
be an incredible way of giving people Bitcoin through a proven
22:28
business model that actually attaches Bitcoin to Everyday
22:32
Life which was, you know, satoshi's original vision of
22:34
making it, you know, P2P payments.
22:37
And so, I was like, well, let's let me reframe it.
22:40
Like, Rewards are part of payments.
22:42
Every time you pay you get something back and we know that
22:45
people don't want to pay with Bitcoin because you know, the
22:47
volatility and a lot of people don't have it then have ubiquity
22:49
yet. And so how do we attach Bitcoin
22:52
to every payment? We make it on the rewards layer.
22:56
So, so far, we've brought over 550,000 people into Bitcoin,
23:00
through rewards. We are us only, we are expanding
23:04
internationally over the next year, but yeah, we are working
23:08
really hard to bring on as many individuals as Well and as many
23:11
Merchants as possible into the Bitcoin space, the obvious thing
23:15
is we're bringing consumers to rewards.
23:16
The non-obvious thing is, we're bringing incredible amount of
23:19
top merchants on board into Bitcoin to kind of give you a
23:23
sense of scale and just Trends. We have 1100 merchants on our
23:28
platform today of those merchants and you can see it you
23:31
know the Nikes and Adidas of the world Sam's Club.
23:34
You name the brand. We probably have worked with
23:37
them of those Merchants less than 10 of them not Not 10% ten
23:42
of them, accept Bitcoin. So the, the, the the rate of
23:47
adoption of rewards is has been incredible.
23:50
And now we're bridging these conversations of, okay?
23:53
They're coming to me. Say when Bitcoin payments when
23:55
are we, you know, what are we talking about with Bitcoin
23:57
remittance and Bitcoin Treasury and all of these conversations
24:00
that that were now bridging, that Gap into?
24:02
So yeah, I think it's what we're building is incredibly important
24:06
mission for the entire Bitcoin space.
24:08
Bringing more people into Bitcoin.
24:11
Educating the world on why Bitcoin is so important and
24:15
attaching it to Everyday Life. Awesome.
24:17
Yeah. So very, very cool.
24:20
I love what you guys do but just you know the plums are going to
24:24
beat me up. If I don't ask you question a
24:26
little bit of a so what's the catch?
24:28
The catch is. So you go and you download the
24:31
the thing let's talk a little bit about incentives.
24:34
What's in it for you? Obviously no one works for free.
24:37
So why don't you talk a little bit about that?
24:40
Yeah, well it's a funny thing is I think a lot of people assume
24:43
that we're doing something like we're it's like how am I getting
24:46
all this free money but we're taking existing business model
24:49
with a cashback business model so it's the way that the
24:52
cashback business model works, is we partner with Merchants.
24:56
Those Merchants are willing to pay for customers to come to
25:00
their sites. They would normally be paying
25:03
Facebook and Google the Behemoth tech companies to go bring you
25:06
into the site. And what they're simply saying
25:08
is hey if Lolly Is users that want to earn Bitcoin.
25:12
Let's go, pay Lolly instead of go pay Facebook or Google and
25:15
unlike Facebook or Google that are like selling your data,
25:18
we're not selling your data, we're just saying.
25:20
All you have to do is use Lolly come in through Lolly and Shop
25:23
there, and we are the Loyalty layer.
25:24
So instead of paying, you know, the like the people's margins of
25:28
40 to 50% to the Googles and the Facebook's, you know, they'll
25:31
pay us ten to fifteen percent. We share that the Lion's Share
25:35
of it with our users, sending Bitcoin to your Lolly wallet.
25:38
So everybody wins the the Merchants get to skirt,
25:41
Facebook, and Google. By working directly with us,
25:44
they get to save money on acquiring customers, our users
25:47
get to be loyal and to our Merchants.
25:51
So a lot of times, you know, it means not shopping at Amazon and
25:53
shopping at a different Merchants.
25:56
One of our 11:00 Merchants to order to in order to have that
25:59
like long-term savings with Bitcoin.
26:03
And and so yeah, when you shop in the merchants, you know and
26:05
love you earned that coin back, you're not selling your data is
26:09
the I think we will never sell your data.
26:11
We don't make money off of selling data.
26:13
We simply make money when people shop these different sites and
26:17
apps and stores and it's completely free to the user when
26:21
they sign up they don't have to put in their credit card or
26:23
nothing. They're just receiving SATs.
26:26
If they if one of your stores are included in the checkout and
26:30
then you have that awesome little you know the Chrome
26:34
plugin. It lights up turns from purple
26:36
to Green, right? And let me one last question.
26:40
Before I pass it on to fill, do you need to do kyc to withdraw
26:45
the SATs? Yes, so we because we're
26:48
rewards, we are not a money transmitter, we found a nice
26:53
loophole and in the legal system, where we, you know, if
26:56
you're buying and selling crypto, you are Whoever has to
26:59
be a money. Transmitter Lolly is not a
27:02
money. Transmitter, we are a rewards
27:04
company that happens to give you Bitcoin, there is some kyc
27:07
required, to be rewards, coming in to move, or to, to like, you
27:11
know, be a Bitcoin company. But it's the absolute minimum
27:15
that we are legally required. Word to take.
27:18
So you know name and email as what you do in come in and say
27:23
you know who you are and tell us who you are and that's how you
27:26
get your Bitcoin awesome. Very cool.
27:28
Fill want to tie it up. Yeah.
27:31
I think what the I think what the theme is?
27:33
Because I do remember interviewing you a few years ago
27:36
for fun with Bitcoin and the theme which is still true and
27:40
absolutely beautiful is this it is the reduction of friction.
27:45
Okay? What We're doing okay, which I
27:48
think is, which I think is really great and this is kind of
27:50
one of those things in Bitcoin that does get controversial,
27:53
right? Because we have all different
27:54
factions of bitcoiners, right? We've got the Privacy Advocates,
27:58
you know, we've got the, we've got other people that just don't
28:01
care. So much about privacy and it's
28:02
all about kyc. We've got other people that
28:04
think that, if, you know, if you're buying your Bitcoin
28:07
through cash app, then you know what you're doing is universally
28:10
horrendous, you know, so what I like about the rewards method is
28:15
this It doesn't require a person necessarily to get a wallet
28:20
immediately. It allows them to take this
28:23
Middle Ground step into Bitcoin with a familiar type of platform
28:27
that they already understand. People are very familiar with
28:31
rewards. People are very familiar with
28:32
gift cards. This Bridges a gap and I think I
28:36
actually you know what, I'd be very curious.
28:39
I don't know if you can share these numbers and it's okay if
28:41
you can't. But what what is the I guess
28:44
your your average Of user. Do you even?
28:48
Are you even able to gather that data have have you even tried to
28:52
gather that data? Because I'd be very curious to
28:54
see I've I feel like you'd be maybe in the like the 30 to 55
28:58
range because there's you know, I think that those people are
29:02
much more averse to the the gift cards and maybe a little bit
29:06
more skittish to go and get a hardware wallet and whatnot.
29:09
But anyways, let me know what are your thoughts on that?
29:13
So a lot of our users are brand new to bitcoin and that was One
29:16
of the things we know we saw very early on, we definitely
29:19
have a lot of Hardcore bitcoiners that that love love
29:25
Ali. I mean one minimal kyc to
29:30
dedication of privacy and security might meet on my team
29:33
and I we built a payments company before.
29:35
If you think being Bitcoin privacy and security stuff, like
29:39
try tried being a PCI level 1 compliant company and the amount
29:42
of Regulation you have to go through to ensure security.
29:46
Privacy of your users data and payments.
29:49
So yeah, we've taken those principles and protocols and
29:53
apply them to to Lolly are real customers like 18 to 34.
29:59
Actually, so much younger demographic.
30:02
So when rakitin so rockets and bought my last company records,
30:06
the biggest cash back company us.
30:07
Many parts of the world. When I was there.
30:10
I think we had over 12 million customers and then honey has 20
30:14
million customers. So you know, whether you You
30:16
like, you know, Bitcoin Rewards or not or whatever your deal is
30:21
fact, is it's incredible way to onboard people.
30:24
People are going to do cash back.
30:25
Anyway, whether you like it or not, and if you can give them a
30:29
better money and teach them about better money and he's on
30:32
bitcoin. Like, you know, we don't care
30:34
what you think. It's like, I'm giving I know I'm
30:36
giving people better money and I'm educating them on on
30:39
bitcoin. And that's incredibly important.
30:41
We're taking something that people do already and we're
30:44
making it way easier. You can sign up in.
30:46
Less than a minute and start earning Bitcoin.
30:48
There's not another platform out there that gives you that sort
30:51
of ease that you can send it to your mom, your dad, your
30:55
friends, your family. And just say, hey, I know you're
30:57
not going to go buy Bitcoin, go try, earning it for a few months
31:00
and see what happens getting off 0.
31:03
I remember used to be a huge piece of the narrative that I
31:06
think is, you know, kind of lost now because everyone all these
31:08
hardcore bitcoiners are, like everyone has.
31:10
It's like, no go. Like we talked to Brenda users
31:13
every single day, like, no one has it.
31:15
It's we're still On day one, and we need to distribute it to more
31:19
people and teach people about Bitcoin and the Bitcoin is
31:23
already going to have more Bitcoin.
31:24
They're already going to keep accumulating.
31:26
Like we need to get to the masses and we need to really
31:29
penetrate the like as many of the of the the masses as
31:34
possible and make it a part of their life.
31:36
Like the biggest thing and you know the price gets talked about
31:40
a lot of like, you know, the the joke that you're forever of like
31:43
one Bitcoin. He goes one Bitcoin is when
31:45
you're talking to someone who is Ever talk to touch Bitcoin
31:48
before. They are hyper fixated on the
31:50
price when we first launched Bitcoin is was at 4K 5K and that
31:55
range. We launched and and it continues
31:57
to go up and it skyrockets those were our biggest growth ever and
32:02
our users still to this day. That, you know, joined us in the
32:04
early days even though the Bitcoins at 20K, they're still
32:07
at 4 x 5 x. What they were earning and
32:10
Bitcoin because price taught them price gave them the best
32:14
rewards platform that they had ever seen.
32:16
Because Cuz when you earn five dollars in cash back from
32:18
rakitin you know your you get your coupons or whatever like
32:23
121 your five dollars is now what four dollars and fifty
32:26
cents with inflation over those last two years whereas your
32:28
Bitcoin is now 45 x what it was. So you aren't you aren't you
32:32
know 10% or like $10 back on your purchase you know how 40 40
32:37
to $50 back you got you got half off your purchase because you
32:41
chose Bitcoin so we are basically like forcing the
32:44
orange pill down people's In like the nicest way possible and
32:49
just saying, look, this is better money and we're going to
32:51
show you just an all you have to do is shop as you normally
32:53
would. Yeah it really the gift that
32:56
keeps on giving. Yes, exactly.
32:58
I like that. The incentive is very strong and
33:01
and the thing about that is that, you know, one day, if
33:04
that, that purchase that you made it might be a hundred
33:07
percent cash back, right? So that's the power of a
33:11
deflationary currency like Bitcoin.
33:13
It's the best savings technology.
33:15
The world has ever seen. Seen.
33:16
But anyways, so it's time for the daily meme review brought to
33:20
you by Citadel 21. It's the best Bitcoin cultural
33:23
Zine stories articles Comics by actual bitcoiners toxic plebs.
33:27
It's great. This is artwork for volume 10.
33:29
This is artwork for volume to his artwork for volume 11.
33:32
Their scarce is only 1000 physical copies made per volume,
33:35
so get your print of Citadel 21 today.
33:38
All right, everybody first meme is by fellow play Bach.
33:41
Metallica hot. Oh my God.
33:43
All right swear. I swear this has never happened
33:46
before. For Laura.
33:49
All right. Moving on my Lena.
33:51
She's, we don't pick the memes. The plebs, join our telegram
33:56
group, they link us in there, and we included.
33:58
Anyways, by the legendary Lena. She she makes the memes herself,
34:03
so she is a legend. Anyways, no Corner.
34:06
Please go down you Corner. Please go up Bitcoin.
34:10
ER, please stay low until I get my next paycheck.
34:12
Ha ha ha. All right, by Allenby Watson.
34:16
Another fellow pleb yield Farmers, it ain't honest or much
34:22
for anyone that doesn't understand or our European
34:25
users. There's, you know, there's the
34:27
the farmer line, right? It's on it, it ain't much, but
34:30
it's honest work, right? It's a little play on words
34:34
another. Another pleb Auto row, block
34:37
Phi, will undergo a liquidity crisis by the end of 2020 to I
34:40
don't know about that block. Phi has already lost sir
34:43
substantial amounts of money in 2022.
34:46
Here's a meme, Luna USC Celsius, three arrows Capital block, fi
34:52
it look the bear Market. This happens every time.
34:55
This is why we advocate so strongly on the show takes have
34:58
custody of your Bitcoin. Anyways, next mean, by Rasmus,
35:02
I'm sure things will go back to normal by July July.
35:10
Well, Street Silver summary of our situation, seventy five
35:14
pieces, why it's hit Play either.
35:18
Great means jack, dude. Jax behind web five.
35:23
He's been absolutely killing it. Nah, and it's web 3.
35:27
And this is the famous meme, the knee.
35:30
It's, you know, the like saying like it's like a Russian Soviet
35:34
Union propaganda, right? Anyways.
35:37
Really good stuff last but not least by coin.
35:40
B, be patient and DCA smashed by every single price dip at least.
35:46
I thought I thought about it very good.
35:49
Awesome, awesome memes by the fellow plebs.
35:52
Thank you guys, really appreciate it.
35:54
Anyways, Phil for those awesome means I'm going to give it an
35:57
empty bag of plantain chips. What about you brother?
36:01
Big fan of the big fan of the plantain chips?
36:03
Very crunchy. Very crunchy plantain.
36:06
It's it's like a banana but it's not.
36:08
It's better. It's better better.
36:09
It's a plantain but you never hear anybody cheering about the
36:13
plantains, right guys, I'm Justin and they don't live in
36:15
Miami, bro. We're all plantains here.
36:18
Real fun things. Okay, so look so for this, I am
36:22
giving it this awesome Cipher wheel box but there's more than
36:29
just a Cipher wheel in here and I'm not going to tell you what's
36:33
in there. Hmm.
36:34
Is it a note? Unfortunately, unfortunately,
36:40
it's not in me and everything that's in there is not meant
36:43
Alex. What would you give those memes?
36:46
I am going to give it a gently used Tabasco.
36:51
Yeah, very spicy memes today. Very spicy but very, very spicy.
36:56
Anyways guys, we want to know if you're grew their scores, you
36:58
disagree. Let us know down in the comment
37:00
section. Join our awesome telegram group.
37:02
It's a party in there and make sure to subscribe to us on
37:05
alternative video platforms. Like Rumble.com and a personal
37:08
favorite Bitcoin tv.com. Anyways Phil it's time for the
37:11
daily fail brought to you by Swan.
37:15
Check them out Swan Bitcoin.com. That's right.
37:19
It is the best way to build your Bitcoin stack with an automated
37:23
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They've got an app coming out. It is a Bitcoin stacking site
37:33
and soon app by fellow plebs check out the Link down below,
37:37
you know, how I like to bring in different versions of fail
37:41
story. So this is just a light kind of,
37:44
you know, something for us to think about right documenting
37:47
Bitcoin. Shout out to this account.
37:48
Great account after such oh laughter Satoshi.
37:51
Nakamoto posted this 12 years ago today 35 thousand seven
37:56
hundred tons of gold have been found thirteen trillion dollars
38:00
have been printed and yet there is still only 21 million
38:05
Bitcoins. Very true, very true.
38:09
And this kind of goes back to nicko's.
38:11
Number segment, right about the hard cap of the of the new
38:18
digital Euro. It doesn't matter.
38:21
They can tell you all, they want that.
38:23
There's a hard cap. Look, the dollar was pegged to
38:26
Gold until it wasn't. Why?
38:29
Because humans this is why we need to be removed from this, we
38:32
clearly suck. Anyways, before I dive into the
38:36
Actual story of the fail. Alex, do you have any comments
38:41
on on this right now? It's just, it just fax.
38:45
It said, I mean there's there's nuts.
38:47
Plain, and simple, love, love to mockumentary, bitcoin always,
38:52
always good to see the memes. Yeah, I am.
38:56
I've nothing to say other than it speaks for itself, you know,
39:00
you kind of mentioned it before. But like, we're we have this
39:03
time of economic crisis of Chaos.
39:06
We have no idea how much more that you know our, our Central
39:11
banking system is going to print.
39:13
We have no control of it. There's no democracy in in what
39:18
we print and yet we're incredibly Reliant and are
39:21
getting hurt by it. So you know, I think I think if
39:24
you're if you're looking at Bitcoin, we every 10 minutes,
39:28
the exact same thing has happened for the last 13 years
39:32
and so it's only safe to say that over the next 13 years,
39:36
Same will be true and it gives me Comfort.
39:39
And I think there's a lot of people comfort knowing that the
39:42
rules are the same for everybody, for four and a half
39:44
billion people with internet connection, and eight billion
39:46
people all around the world, everybody has the same exact
39:49
rules and knows exactly how much Bitcoin is in existence and will
39:53
be in existence. And yeah, I think people are
39:56
looking for truth. Totally agreed.
39:59
Absolutely. All right, Phil what is the
40:01
fair? What is the big deal?
40:03
Is a big story? What is the big story, bro?
40:05
All right, let's take a look. At this, this was actually I
40:07
think dropped in the telegram by optimist.
40:10
So that's right. Optimist, I'm just going to
40:12
randomly blame you for this one. Okay this this one's your fault.
40:15
Here we go. Very interesting and kind of
40:19
anyways kind of weird Jay-Z's Bitcoin School met with
40:23
skepticism in his former housing project I don't have money to be
40:28
losing. Now we're going to read through
40:30
this and then I'm going to give the the framing that I think is
40:34
really important what the signal is, okay.
40:38
Not going to go through the whole article.
40:39
We're just obviously going to choose out some specific pieces.
40:42
So, here we go. Okay, they interviewed some
40:44
people from the Marcy project, where Jay-Z, originally grew up,
40:48
and let's dive into this article.
40:51
It's kind of late to be doing that when people are trying to
40:55
hold on to their dollars, and everything is so expensive.
40:58
People don't want to be investing money knowing that
41:01
they might have a chance of losing it.
41:03
That's right. Because essentially what's
41:05
happening is that It's not free. No, it's not free.
41:09
It's the oh wait, wait, we're going to talk about free in a
41:11
second. But essentially, right there is
41:13
a he's doing a Bitcoin course, okay?
41:16
That he partnered up with Jack. Dorsey, were talking about
41:18
Jay-Z, the rapper partnered up with Jack Dorsey to make a
41:22
Bitcoin course and there's to quote unquote, Bitcoin Educators
41:27
that are involved in it, one of them being Lamarr Wilson bigmar.
41:31
But anyways, this has nothing to do with him specifically this
41:33
has to do with the framing, okay?
41:37
Okay, and we are going to dive into this a little further.
41:40
So they interviewed people from the project, from the projects
41:44
where he grew up and wanted to get their take on quote,
41:47
unquote, Bitcoin education. So, here we go.
41:50
Every dime I get. Gotta go to rent, phone TV and
41:54
internet. I don't have money like that to
41:56
be losing. If I did, I would try to invest
41:58
in something that's more reliable, like the basketball
42:01
game last night, you know, I'm gonna win something from that.
42:06
So just just think about the way that these people are viewing
42:10
Bitcoin. So here we go, the 12-week
42:13
Bitcoin Academy course will be taught by Lamarr Wilson, who
42:16
runs the website black Bitcoin, billionaire and Naja, Jay
42:19
Roberts, founder, and CEO of a brick-and-mortar crypto School
42:23
in California called crypto blockchain plug.
42:28
The simple goal is to provide people tools to build
42:31
Independence for themselves and then the communities around
42:34
them. The academy also plans to Grant
42:37
students a small amount of Bitcoin worth around 20 to 25
42:40
dollars, after they learn to set up their own digital wallets.
42:44
The spokesperson said an open house event that Marcy over the
42:48
weekend, drew a large and eager crowd of mostly seniors and
42:53
young people but younger Marcy house.
42:55
Tenants who spoke to the guardian were unenthused.
42:58
Yasha Figaro, a 24-year old resident who plans to work as a
43:03
caretaker for mentally. Challenged people said the
43:06
Bitcoin Academy seems unhelpful to residents.
43:12
Half the people that's going to go to that class, probably just
43:15
gonna go to the class for the $25 that you get the other half
43:18
of the people. They'll probably take what they
43:20
learn and forget it down the line.
43:23
Figura said that Bitcoin class signified.
43:27
How out of touch the rapper was with his former home.
43:32
If you want to do something, fix this place up.
43:35
She said, we have a basketball court with no Hoops are.
43:38
Park is broken up in here. Should be doing more for his
43:42
community, not know Bitcoin Academy.
43:46
The only thing I could say he really did for us was the
43:51
Christmas stuff, every Christmas he would come around and he
43:55
would give out free toys to the kids or like pocketbooks
43:59
perfumes and little MP3 players. That was good.
44:02
The Bitcoin ain't One, Marcy resident.
44:07
Luis Rivas did Express enthusiasm for the class saying,
44:11
I would like to learn how they became a millionaire and learn
44:15
what to trade and what not to trade Revis.
44:18
Who is unemployed said, he had been acquainted with Jay-Z when
44:21
they were both teenagers. Now, he's a billionaire and I'm
44:25
still living in the F and ghetto since it was announced last
44:29
week, the Bitcoin Academy has faced criticism from Tech
44:31
commentators who have accused the project of preying on.
44:34
Eventually vulnerable people, some have compared to marketing
44:38
of crypto. To how predatory lenders,
44:41
targeted, people of color with subprime loans in the run-up to
44:46
the 2008. Housing crisis 2021 research
44:50
paper. Commissioned by the New York
44:51
city-based crypto currency exchange, Gemini argued that
44:54
cryptocurrency could benefit unbanked populations in Mexico.
44:58
India and Indonesia. Citing centuries-old informal.
45:02
Latin American financial institutions.
45:04
The paper are Gue the cryptocurrency companies can
45:06
build upon and digitize practices that assist in the
45:09
creation of wealth for poor communities and allow them to
45:12
thrive in locations deemed unprofitable by traditional
45:16
banking standards, Gerald a Brooklyn resident with friends
45:19
and family. Living at Marcy, runs a small
45:21
charity that gives people Bitcoin but even he said that
45:24
financial literacy wouldn't solve Marcy's.
45:28
Biggest issue which is a lack of capital, a lack of resources and
45:33
a lack of funding for our Communities teaching someone
45:36
about Bitcoin that doesn't even have $100 in their savings
45:40
account, is not helpful on the surface.
45:44
It looks like folks want to help but once you start peeling back
45:48
the layers, you realize nobody really cares.
45:52
Okay, so look, there is a lot, a lot to unpack here.
45:57
Okay, so I'm going to, I'm going to start off before it before I
46:00
kick it over to Alex because this is not cut and dry this Is
46:04
not black and white, okay? The fact that people we're
46:09
seeing a disparity here. Number one, we're seeing what I
46:13
believe this. What I believe this article
46:15
illustrates the most is the lack of financial education and don't
46:21
get me wrong. I do believe that these people
46:23
are correct that many of these areas do not have the resources.
46:27
Do not have the proper communities in order to try to
46:31
build security and to try to Let's say, quote unquote, bring
46:36
back vibrancy and wealth to those communities.
46:39
It's very difficult. Once something falls into quote
46:43
unquote poverty. Okay.
46:46
So I do believe that the education is missing but
46:50
something that really scares me, okay?
46:52
And this has nothing to do in any way shape, or form with
46:56
color. My wife is a social worker.
46:58
Okay, I myself, when I was back in Montreal, I used to do, PC
47:03
repair for people. So that were on welfare and that
47:06
we're getting social assistance. This has nothing to do with it.
47:10
The point is, is that handouts do not help and I understand
47:16
their point about wanting certain things, but at the end
47:21
of the day, an MP3 player is not going to help somebody get back
47:26
on their feet, and figure out how they can produce a better
47:31
life for themselves and their family and all those Financial
47:35
literacy will not help on the moment.
47:39
Bitcoin is a long low time, preference tool.
47:44
And I believe, I'd like to believe that Jay-Z and Jack
47:48
Dorsey are attempting to introduce some low time.
47:52
Preference thought into these communities to help raise
47:58
themselves. Now, the other piece that I was,
48:00
you're criticizing the, how, the, how the Legacy Media framed
48:05
that article? Yes.
48:06
Okay. Because I was a bit confused.
48:07
I was like, okay, are you at Jay-Z Jack dorso.
48:10
No. Are you criticizing the thing?
48:12
Because I agree with you. I think that, I think that
48:14
that's a noble goal. I think that a lot of the
48:17
poverty comes from the fact that the money is broken, right?
48:21
So look, I was sleeping on a couch six years ago, okay?
48:24
So like Bitcoin completely changed my life, right?
48:27
So I really believe like even if you're you know, very poor.
48:32
I think that if you start earning in Bitcoin, right?
48:36
I think it's going to help you. I think the benefits of the D of
48:38
deflation. Missionary currency are
48:40
undeniable not only from a financial standpoint but also
48:44
from a psychological standpoint as well, right.
48:46
I think that Bitcoin makes you hopeful about the future whereas
48:52
in a fiat currency man, inflation is terrible, right?
48:56
You're constantly like working harder and harder for less
48:59
money. That's my take.
49:02
Yeah, and I man, I definitely, I definitely agree in the one
49:06
piece that I just wanted to add before we before we pass it
49:08
over. Alex is this I think that
49:12
unfortunately, it needs to it needs to be very clear that
49:17
there is a very big difference between Bitcoin and should coins
49:22
okay. And without going into, you
49:25
know, attacking people personally for the things that
49:27
they shill okay, or don't chill, I think that what's very
49:31
important because I saw that comment about, hey, you know,
49:34
like the way that the, you know, that certain people were taken
49:37
advantage of in the mortgage crisis This is why people need
49:40
to understand the true difference between Bitcoin and
49:44
shit coins. Because if these people really
49:46
do, if all people really want to empower themselves, they really
49:49
do need to be looking at Bitcoin.
49:52
Only everything else in the space is an affinity scam.
49:56
Has a head to chop off is not Bitcoin was created with the
50:02
intention of profit. They are all trying to imitate
50:05
Bitcoin anyways. Alex, any thoughts on this?
50:09
My friend. Yeah, I think you guys hit the
50:12
nail on the head. I think the one of the biggest
50:15
problems with the world right now is the lack of financial
50:18
education, you know II felt like I was even had a particularly
50:23
good education studied economics in college and I left college.
50:28
And and you know, when I started to learn about Bitcoin I was
50:32
like, oh my God, what was I doing?
50:33
What did I learn? The the amount of like
50:36
brainwashing that we have in the US and probably Many parts of
50:39
the world about money, it's just not real.
50:42
You know, you don't you don't you don't learn about what's
50:46
actually happening. And so I even I feel like, you
50:51
know, people that were that are growing up in Marcy project.
50:55
The frustration is that it, you know, in seeing those remarks
50:59
I'll be at anecdotal and probably like, you know, picked
51:03
out and a little bit out of context of pain, Bitcoin in a
51:06
negative light and a little bit of food.
51:07
There is I would say that like the rebuttal there is like look
51:13
you don't have to be a part of this.
51:15
Like there's there's a there's Outreach to try to educate this
51:20
this group of people on bitcoin. And like I think that the
51:25
principle is that Bitcoin and stills are net positive, whether
51:28
you you agree with them or not. I think it's incredibly
51:31
important to learn about how money works, and then make your
51:34
own decisions. And you know, when you talk
51:37
about like, you know, shit coins, I don't think people give
51:40
are able to without learning about Bitcoin first.
51:44
The principles that Bitcoin and Sills.
51:46
I always like, you know why we're Bitcoin first company is
51:50
Bitcoin. Only is I think it's incredibly
51:53
important that people's on-ramp be Bitcoin.
51:55
We can't control, you know, the free market and and you know,
51:58
people are going to want to earn and do whatever they want to do.
52:01
And you know, they're there will most likely be a time where we
52:04
have to expand into other currencies and and that will be
52:08
just you know, the the Necessary part of it based on the the
52:12
demand, the piece that I will always hold true and that I
52:16
strongly believe in is that you need to educate people about the
52:20
importance of Bitcoin and the end of the day, everything will
52:23
flow into Bitcoin. Bitcoin will suck up every
52:25
currency in the world because it is that powerful.
52:27
And the sooner that you realize why it's going to take over the
52:33
better. And if you're started, learning
52:35
of like these like false principles on other, these are
52:39
trying to make a quick dollar. Those are the things to be
52:41
scared of. Those are the things that are
52:43
like chasing chasing a dollar like the next nft scam.
52:47
The next pump of some shit coin to get rich or Ponzi scheme or
52:51
whatever. It's like, that's not what
52:53
Bitcoin was built on bitcoin was built out of the financial
52:56
crisis to, to solve the inequalities that are that are
53:01
existing broken Financial system.
53:05
You know, brought about that was hurting those people in the, the
53:07
Marcy Projects and still is hurting Today.
53:10
So how do we break, break them, free of that?
53:13
The only way to do it is to see the truth and to see like the
53:16
holistic picture of money and then let them decide.
53:20
Absolutely useless. I agree, and real quick, Phil, I
53:25
hope that this is free. I hope that, you know, Jay Z and
53:29
Josh decided to be if it's free then I applaud them.
53:33
I think it's a good thing I agree with Alex.
53:36
I think the world needs more financial education and
53:39
hopefully some of those people, you know, they start earning it
53:43
Bitcoin, right? And to get out of the, to get
53:46
out of the Rat Race, so to speak and to get out of poverty,
53:48
because It's terrible. And look, I think that by fixing
53:52
the money, I really do believe. We'll fix the world and I think
53:56
a lot of the poverty in today's world is caused by Broken money.
54:00
Right? Because that's what Fiat has its
54:02
wealth redistribution from the poor and middle class that don't
54:05
have the means to save and equities and real estate and its
54:08
wealth redistribution to the wealthy that benefit from a
54:10
sand, flea asset inflation and the government.
54:14
Right? But anyways, feel there was a
54:16
website by please. Why don't you?
54:17
Why don't you show everybody websites brought.
54:19
To you by Cipher safe. Check them out.
54:22
Cipher safe dot, IO papers dead. Don't store your seed on paper
54:27
store, your seed in the Cipher wheel or the all new Cipher
54:30
grid. They both come with a
54:32
tamper-resistant wire and the grid comes with a cool blue
54:35
punch tool. All right guys, we've got a site
54:38
from fellow bitcoiners mr. Crown and Max by bit or Max bit
54:44
by bit. Definitely check them out.
54:46
These guys are great content creators.
54:48
They've got an awesome Website called ungovernable Misfits.com.
54:54
Yes, it's not just selling, it's not just selling clothes,
54:57
they've got their podcast listed here.
55:00
They've got articles, they've got documentaries, so it's not
55:03
just clothes. It's also an education portal
55:06
and these guys put out some of the best Bitcoin signal.
55:10
So definitely check them out. Ungovernable Misfits.com, the
55:14
link will be in the show notes and guys, don't forget to check
55:19
us out. Out, on our Audio, Only
55:22
platforms Apple podcasts Spotify and anchor.
55:26
If you want to stream a SATs. Check us out on Fountain.
55:29
Dot f m--. You could stream assets through
55:31
Breeze. Awesome.
55:32
Thank you for your guys before we going to give a very special
55:35
shout-out to Pirate. Beach Bums, new writing stuff.
55:39
I think we're going to do something together, check it
55:41
out. The bear Market Diaries is in
55:43
the link description. Also want to give a shout-out to
55:45
our clothing. Sponsor represent LTD.com Phil
55:48
and I wear the hoodies, every Gold.
55:50
A heat David is making Bitcoin merge and simply Bitcoin merch
55:54
very soon. Stay tuned.
55:56
Also want to give a very, very, very special shout-out to our
56:00
awesome. Guess you can give them a follow
56:02
on Twitter. Alex app, Alderman, Alderman.
56:05
I totally butcher the pronunciation.
56:07
I'm sorry. Alex.
56:08
Anyways, go check out LOL. E.com, earn free rewards at.
56:12
1000 top stores. 2,000-plus top stores, earn up to 30%, back in
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Bitcoin or Or cash. Anyways guys, that was our show.
56:21
If you enjoyed the show, you know what to do?
56:23
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New episode lower your time. Preference zoom out.
56:41
It's time for Bitcoin.