Latest / Simply Bitcoin / BREAKING: First Central Bank Adopting Bitcoin? | EP 1171

Transcript

BREAKING: First Central Bank Adopting Bitcoin? | EP 1171 · Simply Bitcoin

• 0:00
  Yo, is the 1st Western central bank in the world about to adopt
• 0:05
  Bitcoin for its reserves? Well, in less than 24 hours,
• 0:09
  this country in Europe, with one of the largest reserves in the
• 0:12
  world relative to the size of its economy, is discussing
• 0:15
  whether they're going to be putting 5% of their central bank
• 0:19
  reserves into Bitcoin. We've had about 25 different
• 0:22
  regions all around the world talk about creating strategic
• 0:26
  Bitcoin reserves, but we might be able to see some follow
• 0:30
  through on some of this happening tomorrow.
• 0:33
  And an interesting thing about this country is the fact that
• 0:35
  they've also have been pushing legislations to eliminate
• 0:39
  capital gains on huddled Bitcoin last month.
• 0:43
  So this country is looking, you know, very positive for
• 0:46
  bitcoiners. And what country are we talking
• 0:48
  about? Who's going to be the first
• 0:51
  central bank potentially to add Bitcoin to their balance sheet?
• 0:54
  Well, of course we are talking about the Republic.
• 0:58
  Now, I'm not alone here. I have, of course, Internet
• 1:01
  Sophie AKA Mrs. Nikko on the show today, who's actually
• 1:06
  probably more of a radical than Nikko ever is.
• 1:08
  So I'm up to tone her down a little bit.
• 1:10
  And then we got our friend here, Arnielle CEO, who is from CFO.
• 1:15
  For you guys out there as Bitcoiners, you know he's going
• 1:17
  to help you guys manage your financial futures.
• 1:20
  He talked about some Bitcoin taxes later on in the show, but
• 1:23
  let's get into the headline story and featured story for
• 1:26
  today. So I'm over here here on Reuters
• 1:28
  and we got a headline of Czech central bank to consider holding
• 1:32
  Bitcoin as a reserve asset. And you can read on.
• 1:35
  The Czech National Bank will consider holding billions of
• 1:38
  dollars worth of Bitcoin in its reserves, Governors Ailes Mikkel
• 1:42
  said on Wednesday, potentially the first shift into the
• 1:45
  cryptocurrency by a Western central bank if it went ahead.
• 1:49
  Mikkel said that the idea was still under analysis and no
• 1:52
  immediate decision with what's coming.
• 1:54
  But I think this is still a huge trend here, a new trend we're
• 1:58
  seeing here. The fact that the central bank
• 2:00
  is even talking about adding Bitcoin to its reserve is
• 2:03
  completely crazy considering everything else happening in the
• 2:06
  EU. Every other central banker in
• 2:09
  the EU has been very hesitant and treating Bitcoin kind of
• 2:13
  like toxic sludge. And they're doing everything
• 2:16
  they can to separate themselves from Bitcoin.
• 2:17
  Remember, you know, Christy Lagarde this week also is push
• 2:21
  or rather last week, the end of last week, doubling down on a,
• 2:24
  on a euro, a digital euro over there, CBDC.
• 2:27
  Interesting trend we're seeing here now.
• 2:30
  Central banks traditionally park reserves and more conservative
• 2:32
  assets and some have warned about the risk of using crypto
• 2:35
  currencies and public coffers. Now, again, a new trend that I
• 2:38
  think we're starting to see right now is these people,
• 2:41
  whether it's pension funds, central banks, nation states,
• 2:44
  they're not necessarily looking at Bitcoin as, you know, just a
• 2:47
  speculative asset. It's starting to grow that
• 2:50
  they're looking at Bitcoin as a conservative investment, which
• 2:53
  is a crazy new development we've seen in the last couple of
• 2:56
  weeks. Obviously, ever since kind of
• 2:58
  the US has has went down the strategic Bitcoin reserve or
• 3:02
  strategic digital asset reserve path.
• 3:04
  Anyways, going further on this article, since taking the helm
• 3:07
  of the Czech central bank in 2022, Mikkel has led to drive or
• 3:11
  LED a drive to diversify the bank's hefty reserves through
• 3:14
  the gradual gold purchases and shifting a bigger share of the
• 3:17
  portfolios into equities to create sustained profits.
• 3:21
  He plans to present this consideration of including
• 3:23
  Bitcoin to the bank 7 strong board on Thursday and this came
• 3:27
  out of the Financial Times. If approved, the bank could
• 3:30
  eventually hold as much of 5% of its €140 billion.
• 3:34
  Reserves are about 146 billion in dollars in Bitcoin.
• 3:39
  And and in the later post, he clarified and you know, he's
• 3:41
  adding to the discussion. He says no decision is eminent.
• 3:44
  Bitcoin has significant volatility, which makes it
• 3:47
  harder to take advantage of its current low correlation with
• 3:49
  other assets. But that's why I will ask our
• 3:52
  team on Thursday to further assess bitcoin's potential role
• 3:55
  as a reserve, nothing more, nothing less.
• 3:58
  Now going further, it's very interesting that the governor,
• 4:02
  head of the central bank over there in the Czech Republic,
• 4:04
  Mikkel is a former investment fund manager and said investment
• 4:08
  in Bitcoin could proved to be worthless or it could have quote
• 4:11
  an absolutely fantastic value. Kind of sounds like what sailors
• 4:16
  been saying about Bitcoin for a long time.
• 4:18
  It's either going to be 0 or it's going up forever.
• 4:22
  It's either going to be worth nothing or it's going to be
• 4:24
  worth a lot. So it sounds like maybe the
• 4:27
  governor of the Czech Republic Central bank may be listening to
• 4:31
  Michael Saylor over here and at least trying to grapple this
• 4:34
  idea of, hey, maybe we need to add Bitcoin to our central bank
• 4:39
  reserved, which is absolutely crazy.
• 4:41
  Now adding he said Bitcoin would trend higher even without the
• 4:45
  backing of U.S. President Donald Trump, since
• 4:47
  it's an alternative investment for many people.
• 4:50
  It's something, you know, our chat's been saying constantly.
• 4:53
  They're they're kind of, you know, some of them are pushing
• 4:55
  back on Trump embracing Bitcoin. It's like we don't need Trump
• 4:58
  for Bitcoin to go to Infinity. So yes, we all agree and we
• 5:02
  don't need central bankers to make Bitcoin number go up.
• 5:05
  But this is where we are right now.
• 5:07
  The politicians and central bankers are looking to add
• 5:10
  Bitcoin to their reserves. It's just absolutely crazy.
• 5:12
  Now. Rounding out this article,
• 5:15
  Mikkel highlighted wider investment investor interest in
• 5:18
  Bitcoin since BlackRock and other firms last year launched
• 5:21
  Bitcoin exchange traded funds, which is kind of the trend we've
• 5:24
  been talking about here on the show for a long time that it
• 5:27
  seems ever since BlackRock got into the game, the the game has
• 5:31
  completely changed and we've been legitimized.
• 5:33
  And we were actually talking about this was it yesterday with
• 5:36
  McShane, this idea that ever since the suits came in Bitcoin,
• 5:40
  it has seemed, or at least you would think it would legitimize
• 5:43
  Bitcoin in the eyes of many people.
• 5:45
  Well, maybe it's not legitimizing Bitcoin in the eyes
• 5:47
  of retail, but ever since Uncle Larry's came in, Bitcoin is
• 5:51
  definitely legitimizing Bitcoin in the eyes of institutional
• 5:54
  asset managers, central bankers, you know, nation state leaders.
• 5:58
  So hey, personally, I am in the game of Bitcoin of separating
• 6:03
  money from state separating, or rather, you know, eliminating
• 6:08
  the central bank. So personally, I'm not the
• 6:10
  biggest fan of this move because I'm I'm not one of these people
• 6:13
  that think there will be no banks in the future.
• 6:15
  I think there will be Bitcoin banks in the future.
• 6:17
  And as far as I'm concerned, printing money is the root cause
• 6:21
  of the problem that most of us are feeling right now.
• 6:24
  Of course, we always say fix the money, fix the world.
• 6:27
  So seeing central banks talk about adding Bitcoin to reserves
• 6:30
  or even a dollar or Bitcoin backed stable coins, all this
• 6:36
  stuff does make me feel a little weird as a bitcoiner because I
• 6:40
  thought our goal here was to eliminate Fiat currencies and
• 6:43
  now they're looking at us as a way to fix their system.
• 6:46
  So it is a strange time we find ourselves as Bitcoiners.
• 6:50
  But as the saying always says, you know, Bitcoin is for
• 6:52
  enemies, Bitcoin is for anyone. And and if we have a problem on
• 6:57
  individual level, then you can sure as hell bet that the
• 7:00
  institutions out there, the central banks and nation states
• 7:03
  also have a very similar problem.
• 7:05
  You cannot save in Fiat currencies.
• 7:08
  And as the world starts to move away from dollar U.S.,
• 7:11
  government debt, they're looking for alternatives.
• 7:13
  And so there's a lot of things to talk about with just this
• 7:16
  announcement in general. One, of course, looking for
• 7:19
  gains. Central bankers are also looking
• 7:21
  for gains. Everyone's looking for gains. 2
• 7:23
  looking for alternatives and ways to secure their financial
• 7:26
  system. So is this just a growing trend
• 7:29
  that we're going to see? Will we see this actually get
• 7:32
  pushed through? Will another central bank follow
• 7:34
  suit? Will we finally see the money
• 7:36
  printer turned on to buy Bitcoin?
• 7:38
  Because once that happens, I think it's just pure
• 7:40
  capitulation in them admitting that Fiat currencies are
• 7:43
  trashed. So we haven't gone that far on
• 7:46
  this path, but I think this is very interesting development.
• 7:49
  Could you have guessed 15 years ago or even when you got in
• 7:52
  Bitcoin? I got in in 2017.
• 7:54
  I would have never guessed even a central banker would be
• 7:56
  talking about adding Bitcoin to their reserves, and yet here we
• 8:00
  are. And again, as a bitcoiner, it's
• 8:02
  hard for me to cheer on central banks adding Bitcoin, but it's
• 8:06
  our duty to just keep telling you the developments and what's
• 8:08
  going on. So this time I'd be different
• 8:11
  guys, I, I hate saying this on the show because it's the
• 8:14
  beginning of 2025. We're in a new bull run.
• 8:17
  This is a new cycle, but it legitimately feels like this
• 8:20
  cycle is 100% different. And as as much as we say that
• 8:24
  maybe the cycle theory on Bitcoin isn't different, maybe,
• 8:28
  you know, end of 2025, we're going to get another bear market
• 8:30
  for 2026. But you can tell that the
• 8:33
  narrative and the rhetoric around Bitcoin is different now
• 8:36
  that we have politicians, now that we have bankers, now that
• 8:38
  we have literally the which is institutional asset managers in
• 8:42
  the world even embracing Bitcoin, talking about Bitcoin
• 8:45
  in good light. I think this is a totally new
• 8:48
  game. And all of us Bitcoiners, as
• 8:50
  much as we don't want to accept this, we got to accept the fact
• 8:53
  that, hey, Bitcoin is maturing. And I actually saw a great tweet
• 8:56
  this morning before I pass it on over to Soph and Arnielle.
• 9:00
  I think it was Rob Hamilton. Of course, we had him on the
• 9:02
  show the other day. He's a part of Anchor Watch.
• 9:05
  And he had a tweet this morning and I'm I'm going to butcher it,
• 9:07
  but he said something on the lines of peoples who whose
• 9:10
  identity is completely wrapped up in Bitcoin dominating the
• 9:14
  world, absolutely shook and devastated by the fact that
• 9:17
  every institutional manager in nation state and central bank is
• 9:20
  adopting Bitcoin or at least looking into it.
• 9:23
  So you know, you can hold 2 contradictory thoughts right
• 9:26
  now. Yes, Bitcoin will separate money
• 9:29
  and state. And yes, we are at this point in
• 9:32
  the story where the central bankers and politicians and the
• 9:35
  biggest institutional asset managers, literally the Fiat
• 9:38
  Cantelon insiders are looking at Bitcoin as an alternative to the
• 9:42
  Fiat currency. So man, all I'm going to say is
• 9:45
  buckle up. Things are getting crazy.
• 9:47
  This is this is very interesting stuff.
• 9:49
  We'll see if anything comes out of this.
• 9:51
  Of course, you know, I can already hear that you guys
• 9:53
  saying like this is just an announcement of an announcement.
• 9:56
  I get it. But this is a totally new
• 9:57
  development. We're finding ourselves in the
• 9:59
  Bitcoin space. And it really just goes to show
• 10:01
  like to the people that are sitting on the sidelines and
• 10:05
  looking at all this stuff, I really don't know what they're
• 10:07
  thinking right now. You'd think that Bitcoin would
• 10:09
  be legitimized in the eyes of the masses, but it seems like
• 10:12
  retail still asleep here. So interesting stuff.
• 10:15
  Keep stacking stats, keep taking Bitcoin into custody.
• 10:18
  This is how we win as individuals.
• 10:20
  This is how we ensure our freedom.
• 10:22
  But it looks like if you're selling Bitcoin right now, you
• 10:25
  might be selling it to, you know, your government of choice
• 10:30
  here rather maybe your government of unchoice.
• 10:32
  But things to consider anyway, Sophie, I want to pass it to you
• 10:36
  because I think you had a great take when we were talking about
• 10:38
  this before the show. So Sophie, Internet Sophie
• 10:42
  Nico's wife, toxic bitcoiner over here.
• 10:46
  What's your thoughts on seeing the head of the Czech Republic
• 10:50
  central bank seemingly embracing Bitcoin?
• 10:53
  Well, banks are realizing that they're on the verge of
• 10:55
  extinction, honestly. So they have to either adapt or
• 11:00
  die. And rather than die, rather than
• 11:03
  just let it all go to the way worth, they're realizing, hey,
• 11:07
  we can offer a new service. We might not be the place where
• 11:11
  people store their wealth anymore, but we might be the
• 11:15
  place where people take out loans against their Bitcoin so
• 11:19
  that they don't have to sell it. A lot of people have been
• 11:21
  talking about that on Twitter, getting around paying that
• 11:24
  capital gains tax by borrowing against your Bitcoin so that you
• 11:28
  don't have to sell it. Oh, I guess.
• 11:36
  OK, hold on. It's a live show, guys.
• 11:38
  We do this live. Oh no, did I?
• 11:42
  Am I back? Am I back?
• 11:43
  You're back. You're back.
• 11:45
  Oh my God, I don't know what's happening with the Internet
• 11:48
  today, but as I was valued that Bitcoin will have is going to
• 11:53
  likely outpace the value of those loans when you borrow
• 11:57
  against it. So I think that banks are going
• 12:00
  to have to completely pivot towards this new technology.
• 12:05
  I think actually a lot of industries are going to have to
• 12:07
  pivot and the the reasons haven't caught on is the ability
• 12:13
  that we're still experiencing with Bitcoin.
• 12:16
  Also part of the reason that these institutions adopting
• 12:19
  Bitcoin is so important is because retailers can't pay for
• 12:23
  their expenses unless government banks, all of the surrounding
• 12:30
  foundation ports, a business is able to adopt Bitcoin.
• 12:34
  So if you think of adoption as as an onion where the outer
• 12:40
  layers start to adopt and then we'll start to the individual,
• 12:44
  the next stop in that onion is retail.
• 12:47
  And after retail, it's going to go straight to the individual.
• 12:51
  The moment that people can buy things on Amazon, and I remember
• 12:55
  people saying this way back in 2017, when people can buy things
• 13:00
  on Amazon with their Bitcoin, it's over.
• 13:04
  That is the moment that hyper bitcoinization is going to
• 13:07
  totally. Totally.
• 13:08
  And that I think this is one of the secondary effects that we're
• 13:12
  seeing right now. Like it's going to be very
• 13:14
  interesting, especially right now you're hearing in the US as
• 13:16
  well, you know, eliminating capital gains and basically
• 13:19
  freeing capital to flow globally, internally in the
• 13:23
  nation. And if that does happen around
• 13:25
  Bitcoin, like it's game on. And you know, now that we're
• 13:28
  seeing banks and the biggest institutional managers in the
• 13:31
  world, that even the biggest banks in the US kind of slowly
• 13:34
  embrace Bitcoin, it is going to be interesting whether all of
• 13:37
  this stringent regulation is going to be surrounding Bitcoin.
• 13:40
  And once, like I, like you said, an Amazon starts to take Bitcoin
• 13:44
  as payments. I, I think they did it for a
• 13:46
  little bit, if I'm, I could be misremembering here.
• 13:49
  But once people can actually use their Bitcoin, it's really going
• 13:52
  to take off. And, and that's a very
• 13:54
  interesting dichotomy we find ourselves in.
• 13:56
  It's like, OK, well, if a government or a central bank is
• 13:59
  holding Bitcoin on their reserves, and then they have
• 14:02
  laws that are stopping individuals using Bitcoin, like,
• 14:05
  how do we circle this square? So a lot of interesting
• 14:08
  questions to answer moving forward.
• 14:10
  Anyways, let's pass it on to Arnielle.
• 14:12
  Hey, you're a little more familiar with, you know, with
• 14:15
  the laws around Bitcoin. So what's your thoughts seeing a
• 14:18
  central bank proposing the adoption of Bitcoin?
• 14:22
  You know, Opti, I this just reminds me of that image of the
• 14:25
  domino where you have one domino that's smaller and then it
• 14:28
  knocks over a bigger domino and a bigger domino and a bigger
• 14:31
  domino. Last cycle, I think many of us
• 14:34
  thought there was going to be massive adoption across
• 14:38
  nationals or across sovereign States, and we saw one with El
• 14:43
  Salvador, but I think that really was one of the dominoes
• 14:48
  that really set a lot of this into motion.
• 14:51
  And so over the last cycle, we've had a lot more
• 14:54
  conversation, a lot more education and a lot more
• 14:57
  infrastructure within the Bitcoin community, Bitcoin
• 15:01
  services and technologies out there to allow for massive
• 15:06
  adoption globally. And so it, it's amazing to see
• 15:10
  that the, the conversation is just starting to increase
• 15:13
  further and further from here. You know, I think if, if we,
• 15:18
  this has happened four years ago, two years ago even, it
• 15:22
  would be a lot more difficult to, to get these nations on
• 15:26
  board and these corporates on board.
• 15:28
  And they also retail now. I, I, I think there still are
• 15:32
  some blockers here in allowing more retail and more individuals
• 15:37
  to get into Bitcoin. And I've been having a lot of
• 15:40
  conversations recently just with neighbors.
• 15:42
  My, so I've, I've neighbors and they're, they're boomers,
• 15:46
  they're big Trump supporters, big Trump fans.
• 15:49
  And so they're, they're watching the news 24/7, just seeing what
• 15:52
  Trump is doing and they're hearing crypto, this digital
• 15:55
  asset, this, Bitcoin this, and them knowing what I do and, and
• 15:59
  who I am like, hey, what, what is this?
• 16:01
  And so people are starting to question more and more what is
• 16:05
  Bitcoin? And, you know, they, they need a
• 16:08
  lot of help. And, and so with these central
• 16:11
  banks starting to adopt Bitcoin, I think that's just going to
• 16:14
  accelerate further. What's going to happen here?
• 16:17
  Yeah, totally. And it's like it's very
• 16:20
  interesting what's going on right now.
• 16:22
  Obviously, as a Bitcoin, a long time Bitcoiner, we believe in
• 16:25
  the separation of money state. We want as many individuals to
• 16:28
  hold Bitcoin like that's how we really secure our freedom.
• 16:32
  And then this new digital age. And I actually have an
• 16:34
  interesting story for you guys in the news about DARPA doing
• 16:38
  like a pre crime AML proposal. So what do you know, as we say
• 16:42
  all the time, it's Bitcoiner slavery we're seeing right now
• 16:45
  that there there's a fork in the road.
• 16:47
  It's either a digital future that is built on a freedom
• 16:51
  technology or one that is totally controlled.
• 16:55
  And it is interesting when these people, whether it's, you know,
• 16:58
  nation states, whether it's the central banks, whether it's, you
• 17:02
  know, the Ray Dalios, the JP Morgans of the world, they look
• 17:06
  at Bitcoin and they're not being so negative about Bitcoin.
• 17:10
  That has to be, you know, sending off alarms to everyday
• 17:14
  people. They're like, wait, what is
• 17:15
  going on here? So Arnell, I love the fact that
• 17:17
  you're saying, you know, I, I know some boomer MAGA people
• 17:20
  that are hearing Trump talk about Bitcoin or crypto and
• 17:23
  they're like, what is this, you know, like what is actually
• 17:25
  going on right now? So hey, we're in a whole new
• 17:28
  paradigm. It's really crazy.
• 17:29
  And I've been saying that for a while that I really do believe
• 17:32
  where we are right now. You'd think more people would be
• 17:34
  asking about what this Bitcoin or crypto thing is, but it seems
• 17:39
  like retail is still kind of asleep.
• 17:40
  It seemed like individuals are still kind of asleep at the
• 17:42
  wheel. Obviously, I think there's a lot
• 17:44
  of factors going on. There is a lot of noise and
• 17:46
  distractions in the world. Also, a lot of people don't have
• 17:49
  as much capital as they used to have in the past.
• 17:51
  So people are struggling right now and I think it's more
• 17:53
  important than ever for us to continue to talk about Bitcoin,
• 17:56
  continue to get this message out to people, continue to try to
• 17:59
  help people. I think it's.
• 18:01
  And continue to huddle and continue to huddle for because,
• 18:05
  because nobody's going to sell right now.
• 18:07
  Anybody who's selling right now is, is it's because they like
• 18:10
  desperately need the liquidity. And that's fine.
• 18:12
  But the majority of people who have been holding for a long
• 18:18
  time, they're not going to sell. And so everyone's just would go
• 18:22
  up. And it's, it's really
• 18:23
  interesting that now the banks are starting to adopt Bitcoin
• 18:28
  and have it as a strategic reserve because guess what else
• 18:31
  banks do? They give out loans for
• 18:34
  mortgages. And we're the generation that
• 18:39
  has been complaining that we're not able to buy a house.
• 18:42
  Everybody I know is renting. And so the fact that banks are
• 18:46
  adopting Bitcoin is kind of a signal soon we might be able to
• 18:52
  buy, we might be able to like actually the birth rate might go
• 18:57
  up and that is a beautiful thing.
• 18:58
  It's not really just about the retail aspect and all of these
• 19:02
  short term in transactions. It's really about also the
• 19:10
  longevity of how to provide for your family and I think that's
• 19:14
  why a lot of us are in big. Totally just trying to survive,
• 19:17
  man. We say it all the time here, you
• 19:19
  know, you come for the money, you stay to fix the money, but
• 19:22
  in, in the, in the short term, you're just like you're trying
• 19:26
  to make sure that you're not just treading water, that you
• 19:29
  can actually live a decent life. And I think this is one of the
• 19:31
  messaging we can get to a lot of people.
• 19:33
  It's like, like life's hard. You know, it's hard to save
• 19:36
  dollars. You know, it's not a good
• 19:38
  economy for me, no matter what the numbers are, but a way to
• 19:40
  protect yourself, a way to save yourself is by just saving in
• 19:43
  Bitcoin. It's literally that simple.
• 19:45
  And yet it is so complicated for people to wrap their minds
• 19:47
  around it. It's it's absolutely incredible.
• 19:50
  Sometimes it's frustrating just talking about Bitcoin so much to
• 19:52
  people and they're like, I don't get this.
• 19:54
  What is this Internet nerd money?
• 19:56
  And you're like, bro, just just buy some Bitcoin.
• 19:58
  Please just buy some Bitcoin. All right, anyways, guys, Oh,
• 20:01
  jump in on you. Oh.
• 20:02
  Yeah, I was going to say. So the clients that I talked to,
• 20:05
  they're putting their life energy into, you know, a, a W2
• 20:10
  job or a business that they're building.
• 20:12
  They're literally putting energy into something that they're
• 20:15
  trying to build, you know, for, for their future and for their
• 20:18
  family. In the past, that energy just
• 20:21
  went straight into Fiat, into U.S. dollars, into cash,
• 20:24
  whatever it was that they were saving into and that was
• 20:27
  depleting their wealth and their purchasing power.
• 20:31
  But I I think it's such a blessing that we have Bitcoin
• 20:33
  now because instead of putting their life energy into something
• 20:36
  that's constantly depleting, they can put it into something
• 20:39
  constant. Love it, bars.
• 20:41
  Hold on, let's go guys, let's get on to the show.
• 20:46
  We got a jam packed show for you guys, but of course we got to
• 20:48
  pay the bills here at Simply Bitcoin.
• 20:50
  So shouts out the Bitcoin. Well, they are the best place to
• 20:53
  buy Bitcoin. Enable your independence get
• 20:57
  over there. You need to actually have a
• 20:59
  Bitcoin wallet to buy Bitcoin from them.
• 21:02
  They have automatic self custody, which means they can
• 21:04
  never rug you guys. I don't know if you've heard of
• 21:07
  maybe this FTX thing. Well, that's not possible with
• 21:09
  Bitcoin. Well, because you need to
• 21:11
  actually have a Bitcoin wallet to buy Bitcoin.
• 21:14
  They are never holding your Bitcoin.
• 21:16
  It's going directly to you and actually guys, you know a little
• 21:19
  a little sneak peek. Adam's going to be coming on
• 21:21
  tomorrow and he was telling me we can't announce some things,
• 21:24
  but some cool things are coming out maybe next week with Bitcoin
• 21:28
  Well, that I think you guys are going to really like.
• 21:30
  So stick around for that. And of course, guys, make sure
• 21:33
  if you are in the market to buy a big chunk of Bitcoin, hit the
• 21:37
  Bitcoin Well Infinite team, a Bitcoin OTC desk where you can
• 21:42
  buy up to or starting minimum of $50,000 buy.
• 21:45
  So if you're on the sidelines, you're looking at this 100K
• 21:48
  price and you're like, it's going up from here.
• 21:51
  Get in touch with the Bitcoin Well Infinite team, e-mail
• 21:54
  nico@bitcoinwell.com. We'll give you a like club
• 21:57
  service will walk you through it, get you good self custody
• 22:00
  and you can start to buy at very at the very start, $50,000 per
• 22:05
  buy. You can, you know, buy up to
• 22:07
  millions of dollars a Bitcoin. If you're on the sidelines
• 22:09
  watching the show and you're like, man, I got some deep
• 22:12
  pockets. It's melting.
• 22:13
  You need to get in touch with the Bitcoin well, infinite team.
• 22:16
  All right, guys, let's get into the show.
• 22:26
  I want to tell you guys about our sponsor stamp seed.
• 22:29
  Is your Bitcoin and cold storage really secure?
• 22:33
  Are your seed words really secure?
• 22:35
  Stamp Seeds Do it yourself kit has everything you'll need to
• 22:39
  hammer your seed words into commercial grade titanium plates
• 22:44
  instead of writing them down on paper.
• 22:47
  Don't do that. Paper sucks.
• 22:50
  You want to literally stamp your seed into this plate of
• 22:54
  titanium. Your words are actually stamped
• 22:57
  into the metal plate with this hammer.
• 22:59
  So once your words are in, they aren't going anywhere.
• 23:03
  No risk of the plate breaking apart and your pieces falling
• 23:07
  everywhere. Titanium stamp seeds will
• 23:09
  survive nearly triple the heat produced by a house fire.
• 23:13
  They are also crush proof, waterproof, non corrosive and
• 23:17
  most importantly because this is generational wealth time proof,
• 23:21
  all things that paper is not allowing you to huddle your
• 23:27
  Bitcoin for the long haul. I mean, here is the plate that
• 23:31
  they crushed, they put in water, they put a blowtorch to it and
• 23:35
  as you can see, the words have survived.
• 23:38
  Stamp your seed on stamp seed and you can use promo code
• 23:43
  simply to get 15% off anything on their store.
• 23:50
  All right guys, scan the QR code right there and use a promo code
• 23:54
  simply to get 15% off. Make sure you know you you write
• 23:57
  your seed phrase on something that's indestructible, like
• 24:01
  stamp seeds kit and in titanium. All right guys, hey, there's
• 24:05
  over about 2000 of you guys watching right now smash the
• 24:07
  like button, subscribe, comment on the show.
• 24:10
  Let us know your thoughts on everything going on.
• 24:12
  We got a jam packed show, but it really helps push us in the algo
• 24:15
  and get more people to understand that Bitcoin is
• 24:17
  taking over the world. Anyways, I'm hearing the numbers
• 24:20
  guys. You already know the deal Clark
• 24:22
  Moody's dashboard. The current Bitcoin price which
• 24:24
  is 100 and 2580. The SAT per dollar AKA how much
• 24:29
  Bitcoin you can buy for a single dollar, AKA how much the dollar
• 24:32
  is worth in Bitcoin is currently at 975 SAT per dollar.
• 24:36
  The block height is 881,383. The Bitcoin market cap in dollar
• 24:41
  terms is $2.03 trillion. We have reclaimed our $2
• 24:46
  trillion market cap and the Bitcoin versus gold market cap,
• 24:49
  lot of room to run in the hard money game, is at 10.59%.
• 24:53
  That is going to go to 100% soon.
• 24:56
  We are taking gold's market cap soon and the total percentage of
• 24:59
  Bitcoin that will ever be issued is currently at 94.36%, roughly
• 25:04
  about 19.8 million Bitcoin in circulation.
• 25:07
  And I saw Nico add to this number and it's crazy how low
• 25:11
  it's gotten. The realized monetary inflation
• 25:13
  of Bitcoin is currently at 1.04%.
• 25:16
  Literally no other Fiat currencies come close.
• 25:18
  Bitcoin is literally the hardest money in the world.
• 25:22
  You might want to get some in case it is catching on.
• 25:25
  You know, if you're feeling poor right now, maybe you want to
• 25:27
  start saving a Bitcoin because they can't inflate your
• 25:30
  purchasing power, rather deflate your purchasing power.
• 25:32
  All right, guys. Get ready for a lot of pain.
• 25:36
  All right, guys. So first of all, you know, you
• 25:39
  guys may be wondering why are we playing this clip?
• 25:42
  Well, Vivek Ramaswami came on Aiden Ross's stream.
• 25:45
  All you guys here most likely know Vivek.
• 25:48
  He was a part of Doge. Now it seems like he's out.
• 25:51
  He's obviously a Bitcoiner. He's a part of the Republican,
• 25:55
  you know, right wing influencer circle.
• 25:59
  But he went on Aiden Ross's stream.
• 26:01
  And if you guys don't know who Aiden Ross is, Aiden Ross is
• 26:04
  literally the biggest live streamer in the world right now.
• 26:06
  He's like the top of Zoomer live streamers.
• 26:10
  He's like the GOAT when it comes to what the kids are watching
• 26:13
  right now. And of course, I'm not bringing
• 26:15
  this on just because it's Vivek on Aiden Ross stream, but it
• 26:18
  seems like they're talking about Bitcoin.
• 26:20
  And you know, there is some points in this little clip here
• 26:23
  of Vivek talking about Bitcoin that I kind of disagree with.
• 26:26
  But the fact that Vivek is on Aiden Ross's stream exposing the
• 26:30
  Bitcoin message, he does say crypto.
• 26:32
  So you know, it is what it is, but exposing the Bitcoin message
• 26:35
  to a younger generation, a younger demographic.
• 26:38
  So this is how we win. This is how we infiltrate the
• 26:40
  culture. This is how we take over the
• 26:42
  culture is by more people understanding what Bitcoin is.
• 26:45
  So let's play this clip and then we'll talk about it.
• 26:48
  Hard gold doesn't have to be the only gold.
• 26:49
  Gold has to be transported. It has to be held.
• 26:51
  What if there was a different way to hold a finite supply of
• 26:53
  something of inherent value? So that was actually part of the
• 26:55
  premise behind. Bitcoin, yeah.
• 26:57
  So I would put that in a different and in some sense
• 27:00
  superior category to something that you could just print more
• 27:03
  of because then it's not differentiated.
• 27:04
  I'm not one of these people, though, that turns crypto into
• 27:07
  like a new religion, all in on this coin or that coin.
• 27:10
  It becomes like a substitute for faith.
• 27:12
  But I do think that the ability to opt out of the traditional
• 27:16
  financial system is a good thing.
• 27:18
  And it would hold people accountable, hold people's feet
• 27:21
  to the fire by keeping the government more accountable.
• 27:24
  If people had the ability to opt out of the traditional currency
• 27:27
  system, that then forces the government itself in the long
• 27:30
  run to be more disciplined about.
• 27:35
  All right, let me let me point out the point where I disagree.
• 27:37
  First and foremost, obviously it's Bitcoin, not crypto.
• 27:41
  I think anyone that has any understanding of what's going on
• 27:44
  in the Bitcoin space understands that Bitcoin leads everything.
• 27:48
  Everything else is trash. There's Bitcoin and then there's
• 27:50
  shit coin, as Warren Davidson said in Congress.
• 27:53
  So it's anytime you hear kind of, you know, an army production
• 27:57
  talk about crypto, I just hear Bitcoin.
• 28:00
  It used to be like chalk, you know, fingernails on a
• 28:02
  chalkboard. When I hear crypto now, it's
• 28:04
  just like, OK, we have a lot to do in education until we get the
• 28:08
  whole world to just say Bitcoin. We we still have a job here at
• 28:11
  Simply Bitcoin. Now the second thing.
• 28:14
  I think being a libertarian is kind of about just accepting
• 28:17
  that people are going to do dumb stuff and letting them do it
• 28:21
  anyway. Now the next part is everyone's
• 28:24
  talking about the Bitcoin religion comment.
• 28:25
  So, you know, personally, I yeah, A.
• 28:29
  Cult put some wrecked on our cult.
• 28:31
  Yeah. First of all, you know, I'm a
• 28:33
  Catholic here. I'm a Christian here, so I only
• 28:35
  have one religion here. And Bitcoin isn't my religion.
• 28:38
  But if it was my religion, I would like the tax exemptions of
• 28:42
  a, you know, a religious cult here.
• 28:44
  So hey, you know, maybe it's a good thing if Bitcoin was a
• 28:47
  religion. But yeah, as Sophie was saying,
• 28:49
  it's a cult, man. It's a hard money cult, or
• 28:52
  rather a hard money club here, yeah.
• 28:55
  Yeah. Drink the kool-aid drink the
• 28:57
  kool-aid. It's it's the best anyways,
• 28:59
  let's talk about what you know, the actual actual substance of
• 29:02
  that clip there. First of all, you know that that
• 29:05
  kind of relates it to gold, which is it's an old meme, but
• 29:09
  it seems to be like the strongest meme right now is that
• 29:11
  Bitcoin is digital gold. Personally, I'm starting to feel
• 29:14
  a little weary about that because it it kind of insinuates
• 29:18
  that Bitcoin is just a store of value, whereas I would consider
• 29:21
  it, you know, the best money, perfect money in the world and
• 29:24
  you know, it's, it's a medium of exchange and a unit of account
• 29:27
  and a store of value all at the same time.
• 29:29
  So hey, we'll take the good with the bad.
• 29:32
  Now, I think the main, the main segment and the real meat of
• 29:35
  this is this idea of opting out of the Fiat system.
• 29:39
  And if more people do it, as Vivek was saying, then yes, we
• 29:43
  will be putting a check on government spending.
• 29:46
  They will not be able to deflate your purchasing power.
• 29:49
  They can't just print money out of thin air.
• 29:51
  They can't just print Bitcoin out of thin air and and the
• 29:54
  austerity that will come with Bitcoin and the the adoption of
• 29:57
  Bitcoin will inevitably mean that governments will get
• 30:01
  smaller if they can't print money to, you know, pay for more
• 30:04
  agencies. If at a point the, you know, the
• 30:07
  the military out there doesn't want this funny money, token
• 30:11
  paper money that we call the dollar, things will
• 30:14
  fundamentally change and we actually have an option now.
• 30:17
  You don't have to just take the abuse from the Fed or, you know,
• 30:20
  government spending. You have an option now to save
• 30:23
  in something that that they cannot destroy the purchasing
• 30:25
  power of and of course that is Bitcoin.
• 30:28
  Now this message was spread and I'm I maybe I can look while I
• 30:32
  pass it over to our guest this on Aiden Ross's stream and again
• 30:36
  for for you guys out there that aren't just chronically online
• 30:39
  and don't know who Aiden Ross is, he's literally one of the
• 30:42
  biggest streamers in the world. So you can kind of think of him
• 30:45
  like the Joe Rogan of the zoomer generation.
• 30:48
  He is like he's sending the culture out there.
• 30:50
  He gets probably the most views from from anyone out there of
• 30:54
  all the streamers. He is a big deal in the younger
• 30:58
  generation and live streaming culture so.
• 31:02
  He's part of the reason a lot of the youth voted for President
• 31:05
  Trump, because he did that interview.
• 31:07
  With them. So like he, you know, you may
• 31:09
  not know who Aidan Ross is and this may be the first time I
• 31:11
  think we brought him on the brought him up on the show a few
• 31:13
  times before, but he is a huge deal on Internet culture.
• 31:17
  So having and hosting these conversations, you know, kudos
• 31:20
  to Aidan Ross because hey, the children out there, you know,
• 31:23
  the zoomers out there, the young adults out there, if they
• 31:26
  understand Bitcoin, if they have this asymmetric understanding of
• 31:30
  what is going on in the world, they start saving in Bitcoin.
• 31:32
  Then, you know, having a lot of young, energetic, wealthy kids
• 31:38
  is going to be a way better future than, you know, us
• 31:41
  millennials that are all just perpetually broke out here.
• 31:44
  So, you know, hopefully some kids are stacking Bitcoin after
• 31:48
  this clip, though, again, he said crypto.
• 31:50
  So maybe they're going to get wrecked and meme coin.
• 31:53
  So, you know, let's let's get them to talk about Bitcoin here.
• 31:56
  Anyway, so chime in and then I'm going to see if I can get these
• 31:59
  numbers on how many people watch this stream.
• 32:01
  Yeah, I'm, I'm optimistic on this next generation.
• 32:04
  I mean, we, we give them a lot of Flack for a lot of things
• 32:09
  that have happened. But you know what, we have
• 32:12
  Bitcoin and they're able to save in the greatest money known to
• 32:16
  man. I have four children myself.
• 32:18
  They're part of the next generation, the alpha
• 32:21
  generation. And you know, there, there's so
• 32:23
  many resources out there now just learning about Bitcoin.
• 32:28
  But you know, with with the zoomers, with Gen.
• 32:31
  Z learning more and more about crypto, you know, it's going to
• 32:35
  make them be more curious about what is this crypto thing?
• 32:38
  What is this Bitcoin thing? And hopefully many of them will
• 32:42
  come to know out of the Bitcoin ethos and why Bitcoin and not
• 32:47
  just crypto in general. Totally.
• 32:49
  That's like the biggest thing we need to do right now is, is I've
• 32:53
  been saying it for a while on the show.
• 32:54
  It's like our duty here is to separate Bitcoin from crypto
• 32:58
  because it's all getting lumped together, especially now, you
• 33:01
  know, with this new SEC agency, you know, the David Sachs
• 33:07
  Cryptozar Trump drop, dropping a couple meme coins.
• 33:12
  And we're going to get, we're going to get, you know, compiled
• 33:15
  into a bunch of hot garbage. And I'm trying to do our best
• 33:19
  here and, you know, to make sure that people just save in
• 33:22
  Bitcoin. Bitcoin's the only thing that's
• 33:24
  really going to hold valley over time.
• 33:26
  And so I know a lot of kids want a very fast and quick way to
• 33:29
  make money. It's not sexy to just tell them,
• 33:32
  hey, you know, saving Bitcoin versus oh, you can buy this meme
• 33:35
  coin and you can become a millionaire overnight.
• 33:37
  Like it's not sexy. Everyone wants this very quick
• 33:40
  shortcut to being wealthy. But hey, if you're what 20 years
• 33:44
  old right now, you saving Bitcoin by the time you're 30,
• 33:48
  you're going to be way, way wealthier than you would be if
• 33:52
  you didn't save in Bitcoin. So either way, it long term
• 33:55
  Bitcoin is the general generational wealth move here.
• 33:59
  So hey, so before I pass it over to you, so for you guys that
• 34:02
  want to know, you know how big Aiden Ross Ross is, he's on Kik,
• 34:05
  which is like a twitch alternative.
• 34:07
  He's got 1.5 million followers on his kick and about 150,000
• 34:12
  views on this video alone. And this just dropped 18 hours
• 34:15
  ago. So I'm guessing it might get
• 34:17
  around, you know, 250,000 views on this clip.
• 34:20
  So that's a, that's a way bigger pool than most of all of the
• 34:24
  Bitcoin in space in general. And it's a new audience.
• 34:28
  So hey, we'll see if the zoomers out there start stacking some
• 34:32
  Bitcoin or if they're going to get wrecked in meme coins.
• 34:34
  But hey, interesting development.
• 34:35
  So what's your thoughts on this stuff?
• 34:39
  I think that this know what they're doing.
• 34:42
  They know that big honestly, I really think that they know what
• 34:47
  they're doing and they're you don't want to take a risk.
• 34:51
  Nobody is going to save What young person has ever in the
• 34:55
  history of the world saved money and then just left it there.
• 35:01
  Nobody wants to gamble. Everybody wants to get rich
• 35:04
  quick. And so it's not really a
• 35:05
  surprise to me that not just the younger generation, but also our
• 35:11
  own government banking institutions, like everybody is
• 35:15
  going through their shit coin phase.
• 35:17
  And it is a phase. It's like your teenage years,
• 35:20
  you want to do crazy things, but actually life catches up at
• 35:27
  wrecked. You have to think long term.
• 35:30
  Your prefrontal cortex starts to develop and you only real hard
• 35:36
  assets that is Bitcoin and that's that.
• 35:41
  But that consciousness takes time to learn.
• 35:45
  Majority of people holding in Bitcoin even though nobody likes
• 35:49
  to admit it, at one point started off as a shit coiner
• 35:53
  because you saw the opportunity or the potential.
• 35:56
  But it's kind of like a many will enter, few will win sort of
• 35:59
  thing. Many people get wrecked.
• 36:02
  But again, that's that's and that's something that I've
• 36:05
  talked about before. There are bad things that are
• 36:08
  going to have to happen to people in order for the
• 36:10
  collective consciousness to fully shift towards Bitcoin
• 36:14
  wrecked by shitcoins or getting wrecked by inflation or the
• 36:20
  world in general. Something drastic is going to
• 36:23
  have to happen for people to learn that Bitcoin is the only
• 36:27
  hard money. It's the only way that we're
• 36:29
  going to be able able to fix the money and they're.
• 36:33
  Yeah, totally, Sophie. And I mean, even even talking
• 36:36
  about hard money, like when I was 20 years old, I didn't
• 36:39
  understand what hard money meant.
• 36:40
  You know, money to me is a dollar.
• 36:42
  And I think a lot of people are have that same idea where it's
• 36:45
  like, what do you what, what does hard money mean?
• 36:47
  Like, you know, it's, it's like titanium, like, you know, it's
• 36:50
  hard, it makes a noise. Like what does that actually
• 36:52
  mean? And a lot of people, you know,
• 36:55
  in Bitcoin, we have the one Bitcoin equals one Bitcoin mean.
• 36:57
  A lot of people think, you know, $1.00 equals $1.00 over, over
• 37:00
  time in space. And it's like, that's not what's
• 37:02
  going on right now. And so educating kids out there,
• 37:05
  they're like, yo, your money sucks.
• 37:06
  Like your money is horrible. There's no way you're going to
• 37:09
  be able to live a, a good life if you're trying to save in
• 37:12
  dollars. And actually, Sophie, there was
• 37:13
  one thing you said like who, who in their 20s is saving dollars?
• 37:17
  Well, you know, I didn't know better, but I would save dollars
• 37:20
  under my mattress and I could only hold like $300.00 at a time
• 37:23
  because it was burning a hole in my pocket.
• 37:25
  So, you know, I was, I was 65. Actually, people are telling me
• 37:28
  I'm a 45 IQ Bitcoin in SL US 45 IQ people out there, we save
• 37:33
  dollars under our mattress and we get absolutely wrecked and
• 37:35
  this is what we're trying to change.
• 37:37
  You're you're an exceptional human being, Opti because.
• 37:41
  Special I. I went out on these streets, OK,
• 37:45
  I went out on these streets and I started asking people for one
• 37:49
  of our few videos. I was like, hey, do you save
• 37:52
  money? If so, how do you save it?
• 37:54
  I would say that eight out of of 10 people did not save money.
• 38:01
  And their answer to me was like Yolo, like why would I save
• 38:05
  money? It's going to be worth less
• 38:06
  tomorrow at. Least they feel it.
• 38:09
  Even though they know nothing about money, at least they know
• 38:12
  that. And so I and then I tell them
• 38:14
  about Bitcoin and then it's like their brain just turns off
• 38:16
  because it's too many extra steps.
• 38:18
  Yeah. Totally, but eventually, like I
• 38:21
  love chat Map Pain is the best teacher really is the best
• 38:26
  teacher. And so, you know, we just people
• 38:29
  will eventually learn. Paine definitely is the best
• 38:32
  teacher. And I think Gen.
• 38:33
  Z, they're at the perfect opportunity right now.
• 38:36
  I mean, they're feeling the effects of inflation.
• 38:39
  I mean they're going into the job market, graduating from
• 38:42
  these degrees with 10s and maybe even hundreds of thousands of
• 38:46
  dollars in college loan debt and they're not able to get jobs.
• 38:50
  And so I think they're at the perfect opportunity right now
• 38:53
  for them to open their eyes to the ills of Fiat and, and, you
• 38:59
  know, getting into Bitcoin as well.
• 39:02
  Totally, totally, 100%. OK, hold on.
• 39:04
  I'm trying to bring, we're trying to get sells Internet
• 39:07
  better up in here. So I'll, I'll deal with it.
• 39:10
  Yeah, for being Internet. I'll deal with it on the
• 39:14
  transition, but anyways, so if they're still loving you in the
• 39:17
  chat and they said even though her Internet is worse than Nico,
• 39:21
  she speaks better and looks better.
• 39:23
  So you know you're still winning over here.
• 39:25
  We're still winning. All right, guys, let's get into
• 39:27
  the news because we do have a very big news story right now.
• 39:30
  So we'll cover that and I'll try to get Internet Sophie's
• 39:33
  Internet better on the next segment.
• 39:35
  Here we go. I want to give a very special
• 39:39
  shout out to our sponsor Compass Mining.
• 39:42
  They make Bitcoin mining accessible to everyone from
• 39:45
  beginners to experienced investors.
• 39:48
  Their turn key miners gets you online and hashing within 48
• 39:52
  hours, making it easier than ever to start your mining
• 39:56
  journey. Plus, with their active
• 39:59
  marketplace, you can resell your miner at any time, adding
• 40:03
  flexibility and value to your investment.
• 40:06
  Visit their website to access a wealth of resources learning
• 40:09
  everything you need to know about Bitcoin mining.
• 40:12
  Take your first step into the world of Bitcoin mining with
• 40:16
  confidence. Discover more at compassmining
• 40:19
  dot IO. Again, compassmining dot IO and
• 40:23
  see how Compass Mining can power your success.
• 40:34
  I want to give a shout out to our sponsor foundation.
• 40:37
  It's self custody done right. They've built a premium grade
• 40:41
  hardware wallet called Passport right here in the US, and it
• 40:44
  integrates seamlessly with their free app called Envoy.
• 40:48
  Passport is fully open source and verifiable.
• 40:51
  It's the most intuitive Bitcoin wallet design with a UX
• 40:55
  reminiscent of a classic feature phone, so you'll know how to
• 40:58
  navigate it and use it the moment you pick it up.
• 41:01
  It's also air gaps, meaning Bitcoin stays offline, never
• 41:05
  touching an Internet connection. It's Bitcoin only open source,
• 41:08
  verifiable air gap security model, gorgeous design, craft
• 41:12
  premium grade materials. Get your Bitcoin off exchanges
• 41:16
  and into your own hands in just a few minutes with Passport at
• 41:19
  foundation dot XYZ slash. Simply get Peace of Mind.
• 41:26
  All right guys, scan the QR code, get yourself a beautiful
• 41:31
  passport by foundation. It is grandma friendly.
• 41:33
  It is the GOAT. All right guys, let's get into
• 41:36
  this new story here. One second, one second Self is
• 41:42
  having Internet issues. All right, all right Self, if
• 41:48
  you can hear me, just turn your Wi-Fi on back on or whatever.
• 41:51
  We'll we'll try, we'll do, we'll do.
• 41:53
  Let's see. Yeah, you're, you're look
• 41:56
  looking a little wrecked here, but whatever.
• 41:58
  We'll, we'll, we'll, we'll roll with the punches.
• 41:59
  All right. Anyways, guys, a lot of stuff
• 42:02
  has been going on. On one hand, it looks like
• 42:05
  Bitcoin is slowly but surely taking over the world.
• 42:09
  It looks like a lot of people are starting to embrace Bitcoin,
• 42:12
  which is kind of ironic. There is this growing theme or
• 42:15
  maybe this growing divide in the Bitcoin space right now where
• 42:19
  hey, we're here to separate money from state.
• 42:21
  And now it seems like we have the state kind of on our
• 42:24
  doorstep embracing Bitcoin. And you know, on that front,
• 42:28
  it's just very interesting Times Now on the back end on the Fiat
• 42:32
  side of things, you're seeing a lot of interesting things coming
• 42:35
  out of the Trump administration, whether it's tariffs, whether
• 42:38
  it's BRICS nation starting to leave the, you know, U.S.
• 42:42
  Treasuries a drop, U.S. dollar debt, you know, U.S. dollar
• 42:45
  denominated debt, government debt and or seeing a lot of, you
• 42:50
  know, privacy overstepping. We still have to deal with the
• 42:54
  samurai wallet case. We're seeing that there's a lot
• 42:59
  of things going out of chain analysis where we're considered
• 43:02
  a bunch of money launderers and we're funding terrorists,
• 43:04
  etcetera. So there's two things going on
• 43:06
  right now. The Fiat world is starting to
• 43:08
  clamp down. They're starting to realize
• 43:09
  they're losing their hold on things.
• 43:11
  And then the Fiat and the Bitcoin world is it seems like a
• 43:14
  lot of people are embracing Bitcoin And of course there will
• 43:17
  be inevitable clash here. And hopefully as a bitcoiner,
• 43:22
  this is a non violent clash, but we don't know where that is
• 43:24
  going. We we have no idea.
• 43:26
  We can't predict the future, but there will be some kind of
• 43:30
  inevitable, you know, metaphorical battle here in the
• 43:33
  future. And hopefully this transition to
• 43:36
  a Bitcoin standard takes a long time, But we're seeing that the
• 43:39
  Fiat system is fighting back. They're they're not going to let
• 43:42
  go of their power. And part of this is what I'm
• 43:44
  covering today. So first of all, shouts out to
• 43:47
  the rage, AKA at the rage tech on Twitter.
• 43:50
  This is Lola Leets. I've been, I've been
• 43:53
  highlighting Lola Leets's work on this show for a long time in
• 43:56
  the last couple of months because she's really on the beat
• 43:59
  on what's going on the overstep of the Fiat system.
• 44:02
  She is doing incredible investigative journalist.
• 44:05
  So shouts out to Lola. She's doing great work.
• 44:08
  I highly recommend you guys go follow her on Twitter, the rage
• 44:11
  tech she's she's constantly doing investigative journalists
• 44:14
  on this front here. So I I highly encourage you guys
• 44:18
  to go support her work. She's doing great stuff.
• 44:20
  Anyways, here's a tweet and it goes DARPA to launch pre crime
• 44:23
  AML program. The Department of Defense is
• 44:25
  planning to launch a new anti money laundering program aiming
• 44:29
  to stop money laundering before it happens.
• 44:31
  Now, of course, this isn't just about AML in general.
• 44:34
  Bitcoin or rather cryptocurrencies are being
• 44:37
  specifically named in this. So let's break down this article
• 44:40
  from Lola and it goes DARPA, of course, the launch pre crime AML
• 44:43
  program and now getting into this article.
• 44:46
  Here's a bullet point. DARPA announced plans to launch
• 44:48
  a pre crime AML program again, pre crime.
• 44:51
  Very Orwellian dystopian 1984 rhetoric here.
• 44:57
  Pre crime. It's it's getting crazy guys.
• 44:59
  You know this, this might be why we're seeing a huge move from,
• 45:03
  you know, governments around the world to embrace AI.
• 45:05
  It's to stop pre crime anyways. Pre crime AML program that aims
• 45:09
  to deter money laundering before it happened, citing North
• 45:11
  Korea's use of cryptocurrency, and the program will likely be
• 45:15
  applied to digital assets. The program engages
• 45:18
  controversial predictive policing practices known to
• 45:22
  further arbitrary discrimination.
• 45:24
  So DARPA or the Defense Advanced Research Projects Agency has
• 45:28
  filed a special notice on the launch of an anticipatory and
• 45:32
  adaptive anti money laundering program, AKA A3ML.
• 45:37
  That quote seeks to revolutionize the practice of
• 45:40
  anti money laundering by developing quote algorithms to
• 45:43
  sift through financial transaction graphs for
• 45:46
  suspicious activity patterns in attempts to anticipate future
• 45:50
  activities. Quote We want to stop our
• 45:53
  adversaries from laundering money to evade sanctions, buy
• 45:56
  weapons and fund drugs that you know UN alive Americans.
• 46:01
  Is that what you want? Well, me too, writes the a three
• 46:03
  AML program manager David Dewerst on LinkedIn.
• 46:07
  Quote if successful, A3AA3ML would make it prohibitively
• 46:12
  expensive for AD adversaries to transfer illicit value through
• 46:15
  the global financial system. The technical hypothesis is
• 46:19
  illicit finance tactics, techniques, and procedures can
• 46:22
  be algorithmically extracted from diverse data sources and
• 46:26
  represented in a generic shareable form.
• 46:28
  Doers rights. The goal of the program is to
• 46:30
  quote eliminate global money laundering by replacing the
• 46:33
  current manual, reactive and expensive analytic practices
• 46:37
  with agile algorithmic methods. Besides a congressional report
• 46:41
  on the state of AML in the DOJ indictment alleging a money
• 46:45
  laundering conspiracy in between Mexican and Chinese nationals to
• 46:48
  finance the cartel, the notice references a CNN report on North
• 46:52
  Koreas use of crypto currencies to fund its missile program,
• 46:56
  suggesting that a three ML may additionally be applied in the
• 46:59
  digital asset sector. Notably, you know everyone's
• 47:04
  unfavorite boogeyman here. Chain Analysis recently
• 47:07
  corrected its 2023 analysis of stolen funds attributed to the
• 47:11
  Democratic people of Republic of Korea by almost half, from $1
• 47:15
  billion down to 660 million. Chain Analysis has not responded
• 47:19
  to a request for comment whether it had informed the Treasury
• 47:22
  Department of the correction. Again, it seems if you aren't
• 47:26
  familiar with the stuff going on with Chain Analysis, they have
• 47:29
  this black box, you know, black box code here.
• 47:32
  They say they can predict financial crimes.
• 47:35
  And it seems like they are damn near guessing at what's going
• 47:39
  on. And yet the US government is
• 47:41
  using it as law that, you know, they're actually tracking
• 47:44
  financial criminals, other quote, financial criminals.
• 47:47
  So we are not fans of Chain Analysis.
• 47:49
  And Lola has been on the beat of kind of, you know, biting at the
• 47:53
  nails of Chain Analysis and wanting them to have some
• 47:56
  transparency there. But it appears they are not as
• 47:59
  transparent. And we don't know if they are
• 48:01
  talking to the Treasury Department, correcting their
• 48:03
  mistakes. But it seems like the government
• 48:06
  agencies are using their reports as official reports of things
• 48:11
  going on. So anyways, the the US
• 48:14
  government's AML programs have recently faced criticism from
• 48:17
  within the government's own ranks, with former Fenson
• 48:19
  leadership questioning whether reporting frameworks as codified
• 48:22
  under the Bank Secrecy Act are useful at all.
• 48:25
  Dubbed quote the World's Least Effective Policy Experiment,
• 48:29
  research suggests that the global effectiveness rate of
• 48:32
  current AML framework lies at around .02%.
• 48:36
  While spending 507 X as much money on compliance programs,
• 48:40
  then we are able to recover through them.
• 48:43
  Just absolutely incredible numbers here.
• 48:45
  As Darpas noticed on a 3ML States quote, the United States
• 48:48
  still faces challenges encountering money laundering
• 48:50
  effectively despite its already draconian efforts which place
• 48:54
  all US Americans under blanket suspicion.
• 48:57
  With even more surveillance and the further erosion of the right
• 49:00
  to presumption of innocence, we can make AML work, or so Darpa's
• 49:04
  logic seems to suggest. Current AML programs already
• 49:08
  disproportionately disfavor marginalized communities, and a
• 49:11
  pre crime approach as envisioned by DARPA only sets out to make
• 49:14
  matters worse. Pre crime programs fund, falling
• 49:17
  under the category of predicted policing, are trained on a set
• 49:20
  of already biased data points, overwhelmingly punishing those
• 49:24
  who fall outside of what the government deems the norm.
• 49:27
  And then to wrap up, seven members of Congress describe the
• 49:30
  practice in a letter urging US Attorney General to halt federal
• 49:34
  funding for predictive policing programs in 2024.
• 49:37
  Quote, mounting evidence indicates that predictive
• 49:39
  policing technologies do not reduce crime.
• 49:42
  Instead, they worsen the unequal treatment of Americans.
• 49:45
  The continued use of such systems creates a dangerous
• 49:47
  feedback loop. Bias predictions are used to
• 49:50
  justify disproportionate stops and arrests in minority
• 49:53
  neighborhoods, which further biases statistics on where
• 49:55
  crimes are happening. And DARPA has until the end of
• 49:59
  January. So what a couple of days to, you
• 50:02
  know, announce further steps regarding regarding this and
• 50:04
  now, you know, going further down this.
• 50:08
  Whitney Webb commented on this post and she goes, quote, the
• 50:12
  part of the government that's never passed an audit and is
• 50:14
  part of the massive black budget BLOB is launching a program to
• 50:18
  quote, stop money laundering before it happens.
• 50:20
  If history is any indication, this will just be another tool
• 50:23
  to clamp down on the informal economy and surveil the public
• 50:26
  while enabling businesses as usual at the national security
• 50:30
  agencies that commit this crime at a scale that would boggle
• 50:33
  them up minds of most. And of course, giving kudos to
• 50:36
  Lola Lee. She's doing incredible work.
• 50:38
  Again, go follow at the Rage Tech on Twitter to keep updated
• 50:42
  on this stuff and other crazy stuff going on.
• 50:45
  So look as a big corner and remember we just had Mark
• 50:49
  Goodwin on last week and you know, 2 ideas are true here.
• 50:53
  One, that if we don't ensure privacy on Bitcoin, ensure that
• 50:59
  you take privacy practices very seriously on an individual
• 51:03
  level, it could turn out that Bitcoin turns into, you know,
• 51:07
  the worst surveillance technology that the world has
• 51:10
  ever seen. And and also on the same side,
• 51:13
  if we ensure that people are taking Bitcoin into custody,
• 51:17
  that there are good privacy practices out there that maybe
• 51:20
  you jump into lightning, etcetera, you use good practices
• 51:23
  like never reusing an address. We can maintain some semblance
• 51:28
  of anonymity or pseudonymity on the Internet and you can break,
• 51:33
  you know, tracking on your Bitcoin movement.
• 51:38
  So we're seeing that as Bitcoin does get adopted, the Fiat world
• 51:43
  is clamping down. They are trying to control with
• 51:46
  the system and they can really control the on and off ramps.
• 51:50
  And of course, if the DOJ continues to use chain analysis,
• 51:54
  which at this point for a lot of Bitcoiners has been proven to be
• 51:58
  broken, or rather more a guess than an actual surveillance
• 52:02
  technology, a surveillance software, things are going to
• 52:06
  get crazy right now. And this is not the the the
• 52:10
  direction I want to see the world go.
• 52:12
  But you are starting to see that as the world starts to embrace
• 52:17
  Bitcoin, the Fiat world is doing whatever they can to control the
• 52:21
  movement of transactions. And we say it all the time on
• 52:24
  the show when we talk about freedom of speech.
• 52:26
  If you can't speak freely, what makes you think you will be
• 52:29
  allowed to transact freely? And This is why the Hyatt quote
• 52:33
  of there may never be a time when we take our money back.
• 52:36
  So or rather the government gives us our money back.
• 52:38
  So we have to find a sly roundabout way.
• 52:40
  And of course, that was Bitcoin. So shots at the Lola for for
• 52:44
  covering these these stories. This is like the main
• 52:48
  perspective of the rage is covering all of these financial
• 52:51
  crimes, surveillance of the US citizenry, or rather global
• 52:55
  citizenry about court cases surrounding privacy.
• 52:59
  And you know, you just, you hate to see this stuff, but you love
• 53:02
  to see Lola covering this because pre crime, I don't know
• 53:05
  about you, but this sounds like, you know, Orwell's nightmare
• 53:08
  future that we're all trying to fight against.
• 53:11
  And yet the people in power like, no, this is this is what
• 53:13
  we want to do. We, you know, we're going to use
• 53:15
  AI to make the world safer. And you're like, yeah, but that
• 53:19
  means you're going to, you know, deteriorate my privacy.
• 53:23
  And now we're all criminals. Now, whatever happened to this
• 53:26
  idea of innocent until proven guilty?
• 53:28
  It's like now just trust the computers.
• 53:30
  They know what they're doing and they will track this on.
• 53:33
  It's like, no, sorry, I thought this was a nation of people
• 53:37
  here, not a nation of computers. But hey, you know, I'm an
• 53:40
  extremist over here. I'm a Bitcoiner.
• 53:42
  I believe in freedom, financial freedom, personal freedom.
• 53:45
  And it seems like again, the inevitable clash of Bitcoin in
• 53:49
  the Fiat system is, is starting to rear its head.
• 53:51
  It's not going to be an easy battle, but if more people start
• 53:54
  holding Bitcoin, transacting in Bitcoin and the Bitcoin, you
• 53:57
  know, the mythical Bitcoin circular economies take off, we
• 54:01
  will win. It's still going to be a lot of
• 54:02
  work anyways. I do want to pass it to Arnielle
• 54:05
  because this is kind of more up your alley here.
• 54:08
  You know, you're at SIA CFO, you talk about financial freedom,
• 54:12
  the financial future people, you talk about taxes, AML, etcetera.
• 54:16
  So what's your thoughts on hearing this DARPA pre crime AML
• 54:19
  notice that was? Dropped.
• 54:21
  Yeah, Honestly, I think it's ridiculous, but it's par for the
• 54:25
  course. It's not surprising that the
• 54:28
  powers to be that the elites are, are doing this.
• 54:31
  I I think they see that their power and their influence is, is
• 54:35
  waning. There's, there's been a shift
• 54:36
  lately just within society and just within politics over the
• 54:41
  past couple of years here. And, and so they're, they're
• 54:44
  recognizing that the, the power that they once had, the sway
• 54:47
  then and the influence they once had isn't as effective anymore.
• 54:51
  And so they're trying to keep as much power as they can.
• 54:55
  And it, it's honestly the sovereign individual.
• 54:57
  If if you've all read that book, the sovereign individual book,
• 55:00
  it's playing out and in one of the chapters as sovereigns, as
• 55:06
  individuals start to opt out of the system, what ends up
• 55:10
  happening in the book, as they predict is more governments and
• 55:14
  more entities will want to clamp down and do this protectionism
• 55:17
  type of thing and and keep that power in control.
• 55:22
  Yeah, exactly. This is it.
• 55:26
  It really is a sovereign individual thesis playing out in
• 55:28
  real time as the Fiat currencies or the powers that be that
• 55:32
  control the Fiat institutions start to lose their power,
• 55:38
  they're going to clamp down and and we're seeing this happen in
• 55:40
  real time. So absolutely insane stuff.
• 55:44
  Sophie, are you there? It looks like your internet's
• 55:46
  messed up, so. It is what's going on.
• 55:51
  The SP numbers are. OK, well, you're you're kind of
• 55:56
  caught in the matrix right now, so just we'll try to figure out
• 56:00
  your Internet. We'll move into the culture and
• 56:02
  hopefully we can get it fixed by the end of the show.
• 56:04
  All right, guys, Well, as you can tell, we got our boy Anya.
• 56:07
  I'll see you here. And we're going to be talking
• 56:09
  about, you know, financial planning here and who needs this
• 56:13
  and maybe a good way for you guys to take advantage of the
• 56:18
  tax codes going on. So we're talking about Bitcoin
• 56:20
  taxes. It's a it's an iffy conversation
• 56:23
  here at Simply Bitcoin. There's a conversation no one
• 56:25
  wants to have, but it's important to have.
• 56:27
  So let's get into the culture and let's talk with Arnielle
• 56:31
  here. I want to give a shout out to
• 56:34
  our sponsor Hive Digital Technologies.
• 56:37
  As the first ever public miner, Hive's been battle tested
• 56:41
  through every possible market and as the first with an AI
• 56:45
  strategy, Hive continues to redefine the future of
• 56:49
  sustainable energy. Also got to casually drop this
• 56:53
  in here. Hive consistently tops the
• 56:55
  industry in Bitcoin mine per Exahash.
• 56:59
  They're lean and mean, they're green and clean, and they're
• 57:02
  changing the the game. Learn more by following them at
• 57:05
  Hive Digital Tech or check out their website,
• 57:08
  hivedigitaltech.com. All righty then guys, of course,
• 57:25
  make sure you get yourself a ticket to bit block Boom, a true
• 57:28
  Bitcoin conference. It's going to be April 3rd
• 57:30
  through the 6th 2025 in Dallas. We're going to be there.
• 57:34
  We're going to have the whole news desk, the whole Bitcoin
• 57:37
  simply Bitcoin team's going to be there.
• 57:38
  If you don't get there, we will be streaming this online for you
• 57:42
  guys, but make sure you go to bitlock boom.
• 57:44
  It's one of my personal favorite conferences.
• 57:47
  It's like my home conference. I I've met all of my I would
• 57:51
  consider lifelong friends there and it's really it's really laid
• 57:55
  back. You can hang out with all the
• 57:56
  Bitcoiners. It's where lobby con came from.
• 57:58
  It's where pool con came from. The real fun is hanging out in
• 58:01
  the lobby with everyone. So make sure you you get a
• 58:03
  ticket to bitblock boom, use the promo code BBB21I repeat BBB 21
• 58:10
  to get $100 off your ticket. All right, actually, before I
• 58:14
  move forward, I do want to give a shout out to Craig Little for
• 58:19
  a 999 LB super chat and he says send it wrong one, wrong one,
• 58:27
  wrong one. But guys, we did turn on the
• 58:30
  Super chats again. So appreciate it, Craig.
• 58:33
  Let's hope we don't get wrecked over here on YouTube, but super
• 58:36
  chats are turned on. Again, thank you for the tip,
• 58:39
  man. We really appreciate it.
• 58:41
  All right, let's get in and do this conversation with Arnell.
• 58:45
  So let's just do the, you know, elevator pitch.
• 58:48
  What is CSCFO? You know, what is your goal
• 58:51
  here? Who's it for?
• 58:53
  And then we'll kind of talk about everything else
• 58:54
  afterwards. Yeah.
• 58:56
  So CSCFO exists to protect the wealth of small business owners
• 59:01
  and bitcoiners from taxation. So our government, they steal
• 59:07
  from its citizens in two main ways.
• 59:09
  The first is inflation. And I know all of us here, we
• 59:12
  know very well the effects of inflation.
• 59:15
  It's why we're in Bitcoin. It's why we're saving into a
• 59:18
  superior asset and superior technology.
• 59:21
  But the second way that they steal from us is through taxes
• 59:25
  and it's not as well as a known topic and subject.
• 59:28
  And so that's why we exist is to protect people from taxation.
• 59:32
  The way we do this is through strategic advisory, tax advisory
• 59:37
  and business advisory, tax filings.
• 59:39
  And then also we do bookkeeping for businesses as well.
• 59:44
  The reason I got into this was I, I've LED finance teams at
• 59:49
  some of the fast growing tech startups and you know, I, I saw
• 59:54
  time and time again the people that I was working with, they,
• 59:59
  they needed someone that they could trust.
• 1:00:02
  After selling a company that that I worked at, I was trying
• 1:00:05
  to figure out what I wanted to do.
• 1:00:06
  And right around the same time is when I got into Bitcoin and I
• 1:00:10
  immediately identified with the community and the ethos.
• 1:00:15
  And, and so I knew that I needed to do something on the tax side
• 1:00:20
  because that's honestly, for almost all of us here, taxes
• 1:00:24
  will be the biggest expense in our life and even doubly so for
• 1:00:29
  business owners. Unfortunately, they are unfairly
• 1:00:31
  taxed the most, but that also means they have the most
• 1:00:35
  opportunities to save on taxes as well.
• 1:00:38
  And So what we do is we take a proactive approach with our
• 1:00:41
  clients, meeting with them throughout the year, guiding
• 1:00:44
  them through not only their tax situation and, and putting in
• 1:00:47
  strategies in place to save them thousands of dollars, but also
• 1:00:51
  walking them through their financial operations and making
• 1:00:53
  sure that they have good record keeping.
• 1:00:56
  Make it. That's honestly the, the biggest
• 1:00:58
  gotcha with the IRS is if your records aren't in place, you
• 1:01:03
  know that put an audit into your business and, and your personal
• 1:01:07
  financials and, and your tax returns.
• 1:01:10
  And so we're here to protect our clients from taxation.
• 1:01:15
  Love it, love it. OK, we did kind of we were kind
• 1:01:18
  of trolling a little bit before the show.
• 1:01:20
  And you, you mentioned the fact that, hey, even if, well, first
• 1:01:24
  of all, I guess give some context here, we are seeing kind
• 1:01:27
  of this rhetoric come out of the Trump administration about
• 1:01:31
  eliminating income tax, capital gains tax, etcetera.
• 1:01:34
  So what's your thoughts on that? And, you know, we'll see a CFO
• 1:01:38
  have a future if that is the case that they eliminated, you
• 1:01:41
  know, capital gains tax on Bitcoin.
• 1:01:43
  Yeah, a few thoughts on that one.
• 1:01:45
  I'd love that. Again, I think taxation is
• 1:01:48
  theft. I'm first and foremost a
• 1:01:50
  bitcoiner and then secondly an accountant.
• 1:01:53
  And I don't deal just with taxes.
• 1:01:55
  But again, taxes is the most pressing issue for most of us.
• 1:02:00
  Now, if income tax gets abolished, most likely it will
• 1:02:04
  get replaced with something else.
• 1:02:05
  And we're seeing the ERS, the external Revenue Service and
• 1:02:10
  tariffs and tax and trade. You know who, who knows what
• 1:02:14
  that will all lead to, But the US government isn't going to
• 1:02:18
  want to easily give away their power and their taxation
• 1:02:22
  revenue. It's going to have to come from
• 1:02:23
  somewhere else. And I think we will see the
• 1:02:26
  effects of that in the price of of goods and maybe even in
• 1:02:31
  consumption tax. So I'm not sure where I stand on
• 1:02:35
  that just yet as far as where I want things to go, where I'd
• 1:02:38
  like to see things go. But what I am here to do is
• 1:02:44
  whatever is happening out there in the world, making sure that
• 1:02:47
  we are putting those strategies in place, creating those
• 1:02:49
  strategies so that we can take advantage of that tax code.
• 1:02:55
  Love it. OK, obviously this question is
• 1:02:57
  going to be speculation, but considering, you know, this is
• 1:03:01
  kind of your field, what what giving some odds here?
• 1:03:04
  What is, you know, what are the odds that you think capital
• 1:03:08
  gain, elimination of capital gains tax is actually a
• 1:03:10
  possibility? It sounds like crazy rhetoric.
• 1:03:13
  Obviously a lot of bitcoiners libertarians are like, yes, if
• 1:03:16
  he does this, Trump is the GOAT. But when you kind of bring it
• 1:03:20
  back down to reality, what are the odds that this might
• 1:03:22
  actually happen? Yeah.
• 1:03:24
  So previously I, I was going to give it a lot lower percentage.
• 1:03:28
  But now that we have, I mean what we're calling it the
• 1:03:31
  digital asset strategic reserve or whatever it is, the stockpile
• 1:03:36
  and it becoming more and more in the conversation, I don't think
• 1:03:39
  it's out of the question. So I probably put it at a 60%
• 1:03:44
  in, in my opinion. Wait, did you say 60%?
• 1:03:47
  60%, yeah, I was, I was going to say like a 4060, but I'm saying
• 1:03:51
  60% now and I I'd love for that to happen.
• 1:03:56
  That's even better for us, you know, especially if any of us
• 1:03:59
  are are living on our Bitcoin or wanting to use it as a medium
• 1:04:04
  exchange. We don't want to have that be be
• 1:04:06
  taxed and that I think that's the biggest barrier right now,
• 1:04:09
  especially if the US is going to adopt it.
• 1:04:14
  Love it. Yeah.
• 1:04:16
  Taxes. Taxes are unconstitutional and
• 1:04:18
  taxing. Bitcoin is.
• 1:04:19
  Unconstitutional dollars to. Taxes. 100%.
• 1:04:25
  Yes, remember I said Sophie is more radical than Nikko, that
• 1:04:30
  that's a perfect example of that bring.
• 1:04:33
  Tariffs. Back let's go all right, Arnell,
• 1:04:37
  bringing it back to you. So if someone out there is, you
• 1:04:43
  know, looking to get in touch with you like who who is your
• 1:04:46
  ideal customer here? Is it small businesses?
• 1:04:49
  Is individuals like who are you going to help along their
• 1:04:52
  journey? Yeah.
• 1:04:53
  So I'd say I'm at the intersection of Bitcoin and
• 1:04:57
  small business and specifically small business because next to
• 1:05:02
  Bitcoin, I think small owning a business, owning an asset will,
• 1:05:07
  it is the best determining factor in setting yourself up
• 1:05:11
  for your financial future. And so here's my hope with a
• 1:05:15
  business. My hope is one more individuals
• 1:05:19
  get into Bitcoin. And so I'm preparing tax returns
• 1:05:21
  for individuals right now. Part of those conversations is,
• 1:05:25
  hey, you should learn about Bitcoin.
• 1:05:28
  And I just had this conversation with someone last night.
• 1:05:31
  The next step is if you're a Bitcoiner, I want you to be a
• 1:05:35
  small business owner as well. And the reason for that is as as
• 1:05:39
  more of us get into Bitcoin, as more of us become more sovereign
• 1:05:44
  and take control of our financials, I think the next
• 1:05:48
  phase of the world, we need better leaders in our
• 1:05:51
  communities. We need better leaders in
• 1:05:53
  business. So I want more than anything
• 1:05:56
  Bitcoiners who share the ethos that we have of freedom and
• 1:06:00
  privacy to be the people who are leading our communities, leading
• 1:06:05
  our businesses, leading our cities.
• 1:06:08
  And so I mainly serve small business owners and Bitcoiners.
• 1:06:14
  Awesome. Well, oops.
• 1:06:16
  Adding to that conversation, so you're not just for bitcoiners.
• 1:06:20
  Now when you talk to, you know, for lack of better terms, like a
• 1:06:23
  normie small business and you bring up the idea of Bitcoin,
• 1:06:27
  like what is their response to this?
• 1:06:29
  I'd like, do you tell them you're a Bitcoiner?
• 1:06:31
  Like do you hide that you're a bitcoiner?
• 1:06:33
  How does this work? I definitely don't hide that I'm
• 1:06:35
  a Bitcoiner. Most people in my circles know
• 1:06:38
  that I'm a Bitcoiner, and surprisingly so.
• 1:06:42
  The circles that I run into, I'm in Tulsa, the heart of MAGA
• 1:06:48
  country essentially. And so, you know, there's that
• 1:06:52
  certain demographic of people, they already see the ills of
• 1:06:56
  society and what's happening within our government.
• 1:07:00
  And so they, their minds are very primed for what is Bitcoin,
• 1:07:05
  especially, you know, with, with the latest news coming out the
• 1:07:08
  past few weeks here with the strategic stockpile.
• 1:07:13
  And, and so when I, when they're speaking to me, they're coming
• 1:07:16
  to me mainly for tax advice, but then I put in place strategic
• 1:07:21
  plans and strategies for them to continue saving taxes.
• 1:07:26
  But then also once you save in taxes, what do you do with that
• 1:07:29
  money? Now, I'm not a financial
• 1:07:32
  advisor, I'm not an investment advisor, but what I do tell them
• 1:07:36
  is, hey, we should look into Bitcoin and at least educate
• 1:07:39
  yourself on that. You know, you want a four O 1K,
• 1:07:43
  you want a Roth IRA, you have some money in that.
• 1:07:46
  Maybe do some education in it and see if that might be a part
• 1:07:49
  of the equation. Love it.
• 1:07:51
  OK, I do want to transition to the strategies, but I do have
• 1:07:56
  one question and it's on this topic.
• 1:07:57
  So you know, you're, you're saying that you're, you told us
• 1:08:01
  a story earlier about your MAGA neighbors that are now hearing
• 1:08:04
  about Bitcoin. You basically work, you know,
• 1:08:08
  in, in more of a normie field and you're trying to bring
• 1:08:10
  Bitcoiners into it. So my question right now is what
• 1:08:14
  do you think the general sentiment is from like someone
• 1:08:17
  that comes to you that isn't a bitcoiner?
• 1:08:19
  Obviously they're starting to learn that Bitcoin is something
• 1:08:23
  important. And are you seeing like a
• 1:08:25
  growing trend of people becoming more involved or interested in
• 1:08:28
  Bitcoin? Like how, what, what is the
• 1:08:30
  development there in the last couple of, I don't know, last
• 1:08:33
  couple of months I guess? Yeah, I, I still think we're
• 1:08:36
  still very early. Again, I mean, the, the signal
• 1:08:39
  and the conversation out there has definitely been growing, but
• 1:08:42
  we're still very early, which is actually a benefit to us because
• 1:08:47
  I mean, I think we're entrenched in the conversation daily.
• 1:08:50
  I mean, we're seeing stuff about XRP this and you know, stuff
• 1:08:54
  with shit coins coming back up again.
• 1:08:56
  But most of the population, I'd say 9095% of the population,
• 1:09:01
  they have no idea that this conversation is even happening.
• 1:09:04
  And So what that allows us is we have the opportunity to tell
• 1:09:07
  them about Bitcoin. They're already interested in
• 1:09:10
  it. They, they see the conversation
• 1:09:12
  happening in the news or in social media.
• 1:09:15
  So then we as Bitcoiners have the opportunity to talk to them
• 1:09:19
  about hey, This is why Bitcoin, why Bitcoin only, and let's get
• 1:09:24
  you on your orange pill journey. Love it, love it.
• 1:09:27
  OK, now before we started the show and you kind of just talked
• 1:09:31
  about it a little bit, you were mentioning that you might have,
• 1:09:35
  you know, a, a good tax strategy for the Bitcoiners out there and
• 1:09:39
  you, you framed it as a speculative attack on your 4O1K.
• 1:09:44
  So you know, let's give some people out there if they're
• 1:09:46
  interested in this, some actionable advice.
• 1:09:48
  So what is this speculative attack on a four O 1K?
• 1:09:52
  Yes. So it's, it's not so much a tax
• 1:09:55
  strategy, it is related to taxes because it is related to the
• 1:09:58
  four O 1K. But this is more of a stacking
• 1:10:01
  strategy that that I've put out there.
• 1:10:04
  And I've gotten a lot of comments from people in saying
• 1:10:08
  that they actually did this strategy.
• 1:10:10
  So today I think many of us were seeing the price of Bitcoin.
• 1:10:16
  I'm not even going to begin to make any assumptions on where
• 1:10:19
  the Bitcoin price is going to be, you know, a year, 2 years
• 1:10:23
  from now. I'm the worst person to ask on
• 1:10:25
  that. But what I do know is many of us
• 1:10:28
  want to buy more Bitcoin, but we're strapped for cash.
• 1:10:31
  We don't have much dry powder left, but where where a lot of
• 1:10:35
  people do have money is in their four O 1 KS locked away in this
• 1:10:40
  four O 1K prison. Now today we we have financial
• 1:10:45
  instruments like, you know, I mean, we have MicroStrategy, a
• 1:10:48
  proxy for Bitcoin. We have the ETFs, but what about
• 1:10:52
  that person who wants to hold Bitcoin, specifically self
• 1:10:57
  custody and have control over their Bitcoin?
• 1:11:00
  Well what you can do is you can take a loan from your 4O1K and
• 1:11:05
  what you can do with that loan. So here, here's the details.
• 1:11:08
  With your loan, you can take up to $50,000 or 50% of your of
• 1:11:16
  your 4O1K, whichever is higher or sorry, whichever is lower.
• 1:11:21
  The exception there is if your loan balance or sorry, your 4O1K
• 1:11:24
  balance is less than $20,000, you can take up to $10,000 as a
• 1:11:29
  loan no questions asked. Now you do have to pay an
• 1:11:34
  interest on that loan and I think today it's right around
• 1:11:37
  probably 9 or 10%. But here's the kicker, that
• 1:11:41
  interest, you're not paying it to some bank or some financial
• 1:11:45
  institution, you're paying it back into the four O 1K.
• 1:11:49
  So you're literally paying interest back to your future
• 1:11:52
  self. And so the benefit of that is
• 1:11:55
  now you have all this cash that you can access and you can put
• 1:11:59
  that straight into Bitcoin that you can self custody.
• 1:12:04
  And so again, you will have monthly payments that you have
• 1:12:09
  to make on this four O 1K loan. But you can think of it this
• 1:12:13
  way. Many of us are already DCA
• 1:12:16
  already doing recurring buys. Why don't we just take those
• 1:12:21
  recurring buys and accelerate them and and use them for today?
• 1:12:27
  This of course does have risk. It's not a strategy for
• 1:12:31
  everyone, but it is an option. You don't get taxed on a loan on
• 1:12:36
  a four O 1K. There's no penalties and you are
• 1:12:40
  literally paying yourself back on on that interest.
• 1:12:43
  And so I was talking to WS Bitcoin and he told me, hey, if
• 1:12:50
  you put this together with, with multiple loans, you know, get a
• 1:12:54
  four O 1K loan, buy Bitcoin, pay back that loan, do it again,
• 1:12:58
  just do a rinse and repeat. And this could be a great
• 1:13:01
  strategy for you. Wow, at this point is a time
• 1:13:06
  where I wish I had a 401K. You know this sounds awesome.
• 1:13:10
  I wish I had a retirement here, but.
• 1:13:13
  I should have listened to my parents.
• 1:13:15
  Yeah, seriously. So it sounds like a strategy to
• 1:13:20
  essentially, you know, obviously you're taking a loan out, but
• 1:13:22
  like you smashed by Bitcoin, You know, I don't know how long the
• 1:13:25
  process is to get the loan, but you smashed by Bitcoin today,
• 1:13:28
  you know, at least in timing type stuff, and then you DCA
• 1:13:32
  back into the the pay the interest off.
• 1:13:34
  And so like you get the Bitcoin price today and then you just
• 1:13:38
  pay it off as you go along. That sounds that sounds insane.
• 1:13:41
  If I had a four O 1 Ki would probably do this.
• 1:13:43
  So man, actually we do have a good question in here and I'm
• 1:13:47
  going to kind of reframe the question a little bit and and
• 1:13:50
  maybe you can kind of add on that with this four O 1K
• 1:13:53
  strategy here is. It about the kidneys, no.
• 1:13:55
  No, no, no, no. That's a good one though.
• 1:13:59
  Skyler King goes, why buy MSTR MicroStrategy when you can just
• 1:14:04
  buy Bitcoin? I don't get it.
• 1:14:05
  And I, I think in this context you could say, you know why, You
• 1:14:10
  know, why buy MicroStrategy within your 4O1K versus buying
• 1:14:14
  Bitcoin. I think a lot of people don't
• 1:14:15
  understand like, you know, the technicalities going on here
• 1:14:18
  that it's still extremely hard to act actually buy Bitcoin in
• 1:14:21
  these four O 1K strategies unless it's like a Roth IRA or
• 1:14:24
  something like that. Like most people don't
• 1:14:26
  understand what's going on there.
• 1:14:27
  So Arnell, could you kind of talk talk through this a little
• 1:14:30
  bit? Yeah.
• 1:14:31
  So you are able to buy Bitcoin directly from retirement
• 1:14:36
  accounts, but the possibility of you doing that, typically it's
• 1:14:40
  not very easy. You need what's called a
• 1:14:42
  self-directed four O 1K or self-directed IRA, Roth IRA.
• 1:14:47
  And that basically means you can invest in anything that you
• 1:14:50
  want. You have to do it within a legal
• 1:14:52
  framework. You have to have documents
• 1:14:54
  written up. And typically if you have a four
• 1:14:56
  O 1K from your employer, that's not even a possibility.
• 1:15:00
  So most people with a four O 1K, their funds are locked up into
• 1:15:05
  there. And the the bad part about it
• 1:15:08
  too is typically the investment options that they have within
• 1:15:12
  there are very limited. And So what a lot of people end
• 1:15:16
  up doing is if they're able to invest in specific instruments,
• 1:15:21
  they can buy MicroStrategy as a proxy for Bitcoin or they can
• 1:15:26
  buy the ETF as a proxy for Bitcoin.
• 1:15:29
  But unfortunately today there's not a real way to invest
• 1:15:32
  directly or buy directly Bitcoin inside of an employer 4O1K
• 1:15:38
  unless you have what's called a self-directed 4O1K.
• 1:15:42
  Love it, appreciate that. Yeah, I think, you know, that me
• 1:15:45
  being the the ideal get a lot of us Bitcoiners we learned about
• 1:15:49
  the traditional financial system after we, you know, became
• 1:15:53
  completely Bitcoiners. And so it just we're just like,
• 1:15:56
  why don't we just buy Bitcoin directly?
• 1:15:58
  But I think a lot of the stuff we're seeing recently in the
• 1:16:01
  last couple of months, whether it's, you know, like SAB 1/21
• 1:16:05
  fasby accounting rule change, I think a lot of people don't
• 1:16:08
  understand just how much capital is actually locked up in four O
• 1:16:12
  1 KS or in the traditional financial system and how
• 1:16:15
  difficult it actually is to get into Bitcoin.
• 1:16:18
  But now we're seeing that a lot of these roadblocks are are
• 1:16:20
  slowly but surely eroding. And so we will be seeing a lot a
• 1:16:25
  huge influx of capital coming into Bitcoin from people that
• 1:16:28
  are Bitcoiners, but their capital just locked up in these
• 1:16:31
  traditional financial instruments.
• 1:16:33
  And you know, you helping people understand that.
• 1:16:36
  I think it's absolutely great. So love to hear.
• 1:16:39
  So if you are back now, so you're here, you're clear.
• 1:16:44
  Do you want to chime in a little bit on this combo or we can get
• 1:16:46
  Arnell's, you know, last two-minute elevator page final
• 1:16:50
  words for the audience. Well, I just wanted to quickly
• 1:16:53
  mention on the DARPA article that you covered, a lot of
• 1:16:58
  people would look at that article and suddenly panic,
• 1:17:02
  right? But I think one of the
• 1:17:04
  privileges of owning Bitcoin is looking at that article.
• 1:17:09
  And you know, while other people are saying, Oh my God, we're
• 1:17:11
  living in a real life version of minority port.
• 1:17:14
  I feel really privileged because I feel 0 fear while you were
• 1:17:18
  reading that I was like, OK, cool, like come and take it, I
• 1:17:21
  dare you. But at the same time, it's
• 1:17:25
  making me wonder if, you know, this civil war that we thought
• 1:17:29
  was going to be between the left and the right is actually going
• 1:17:32
  to be between the people and those in power.
• 1:17:36
  Is it going to be the men with the guns versus the people with
• 1:17:39
  the guns defending our right to self custody, defending our
• 1:17:43
  right to live life free from the tyranny of government?
• 1:17:48
  And so, you know, this might be the start of that type of
• 1:17:52
  conflict. But in in reality, like I feel
• 1:17:54
  No Fear because I have God, I have Bitcoin and we have guns.
• 1:18:01
  Bars. Absolute bars.
• 1:18:04
  Love it. OK, Let me see if the chat's
• 1:18:07
  saying anything. There's a people, a couple
• 1:18:10
  people say I just, I just ended MY4O1K and just bought Bitcoin.
• 1:18:14
  It's better actually maybe talk about that because that is
• 1:18:18
  obviously another strategy for people, but you will be taking
• 1:18:21
  kind of a haircut on that. You will be taking a haircut.
• 1:18:24
  So full, Full disclosure. So four years ago when lockdown
• 1:18:29
  and COVID was happening, people were able to take out of the
• 1:18:32
  retirements completely penalty free.
• 1:18:34
  I end up taking advantage of that and they were able to defer
• 1:18:38
  the taxes today. That's not an option anymore.
• 1:18:41
  And so if you want to cash out your 4O1K or your any, any
• 1:18:46
  retirements accounts that you have before the age which is 59
• 1:18:50
  1/2, you will have a penalty. And you'll also have to claim
• 1:18:55
  that as taxable income. And so, you know, you'll end up
• 1:19:00
  taking a haircut on that. Now, you might decide it's worth
• 1:19:04
  it and to go ahead and do that and to just buy Bitcoin
• 1:19:08
  directly. But for many of you, you might
• 1:19:10
  not want to do that. And so that that strategy, the
• 1:19:13
  speculative attack on your 4O1K could be a good option there.
• 1:19:18
  Love it. Absolutely incredible.
• 1:19:20
  OK, well, we are getting close to the end of the show.
• 1:19:25
  But Arnell, I do want to give you one final message to the
• 1:19:28
  audience. It could be, you know, about
• 1:19:31
  hitting you up for, you know, some some financial advice or
• 1:19:35
  financial accounting. I'm not going to say financial
• 1:19:37
  advice. Or it could be about where
• 1:19:40
  Bitcoin is going or whatever, whatever's top of mind.
• 1:19:43
  What is the final message you want to leave with our audience?
• 1:19:46
  Yeah. First of all, thank you everyone
• 1:19:48
  for having me here. I'll leave it with this.
• 1:19:51
  I think taxation is theft, but we owe it to ourselves.
• 1:19:55
  I think it is our God-given right to pay as little tax as
• 1:19:59
  possible within the legal framework.
• 1:20:02
  I don't advocate anyone go outside of the legal framework
• 1:20:05
  because then that just puts a big target on your back.
• 1:20:08
  But I think everyone should learn more about the tax code
• 1:20:11
  and figure out ways to reduce their taxable income, including
• 1:20:16
  maybe starting a side business, starting a, a business, a side
• 1:20:19
  hustle to to take advantage of these things.
• 1:20:23
  Feel free to follow me on X on Twitter, Armiel CEO, or you can
• 1:20:27
  look up Sovereign CPA and my name is, is under there and I
• 1:20:32
  post a lot of other tax strategies on there.
• 1:20:36
  My, my mission is to eventually compile all the strategies I
• 1:20:40
  have out there and put it out into the Twittersphere and, and
• 1:20:44
  on my website. So feel free to follow me on
• 1:20:46
  there. And if you're interested, if you
• 1:20:48
  would like to talk, if you want to work with me, feel free to go
• 1:20:51
  to CSCFO my website. Again, it's on my link my
• 1:20:56
  Twitter bio, but feel free to contact me on there.
• 1:21:00
  Love it, love it. Yeah guys, for the audio
• 1:21:01
  listeners at CS cfo.com, SIACFO. So get in touch with him and of
• 1:21:07
  course, follow him on Twitter. Man, really, really glad to have
• 1:21:10
  you on today. What a great show.
• 1:21:13
  So thank you so much, Arnell hang out behind the scenes for a
• 1:21:17
  second while we wrap up the show.
• 1:21:19
  For everyone out there that doesn't know who the lovely,
• 1:21:23
  lovely and beautiful Internet Sophie is, this is Nico's wife.
• 1:21:27
  The more radical side of Nico, she fills in.
• 1:21:31
  You know, Nico's actually headed to El Salvador right now for the
• 1:21:33
  Plan B conference, so I'll be handling the hosting duties for
• 1:21:37
  the rest of the week. But Sophie, thank you so much
• 1:21:39
  for coming on today. We miss you on the show.
• 1:21:42
  We it's. Been back on Monday, Oh.
• 1:21:44
  OK, OK. We miss you on the show.
• 1:21:47
  It's been a while. Good to have you back.
• 1:21:49
  Thank you so much. So.
• 1:21:51
  Bye, guys. All right, guys.
• 1:21:53
  Well, you already know the deal. Smash the like button, comment,
• 1:21:56
  comment on the show, Let us know your thoughts on everything we
• 1:21:59
  talked about today. And of course, if you think
• 1:22:01
  we're providing value, if you guys hit the subscriber button,
• 1:22:05
  come help us push the peaceful Bitcoin revolution.
• 1:22:08
  We will be back tomorrow at 12:15 PM Eastern Time or
• 1:22:14
  thereabouts, about 5 minutes afterwards.
• 1:22:18
  Anyways, I've been your host, Optimus Fields, and we will be
• 1:22:22
  back tomorrow. On that note guys, I love you
• 1:22:25
  and we appreciate you guys support.
• 1:22:27
  Have a good rest of your day. It's been a good one.
• 1:22:30
  Peace out. Today's episode was brought to
• 1:22:33
  you by bitcoinwell.com, a Bitcoin only platform on a
• 1:22:36
  mission to enable financial independence.