Latest / Simply Bitcoin / Will Trumps Tariffs DESTROY This NEW $250,000 Bitcoin Prediction?! | EP 1214

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Will Trumps Tariffs DESTROY This NEW $250,000 Bitcoin Prediction?! | EP 1214 · Simply Bitcoin

• 0:00
  Yo, Donald Trump's tariffs have crashed markets all over the
• 0:05
  world the the last three weeks. But the real question on
• 0:09
  everybody's mind is will Trump's tariff announcement in just four
• 0:14
  hours time and the Bitcoin bull run early?
• 0:18
  Well, the general consensus thinks that tariffs will crash
• 0:22
  Bitcoin, but macro analyst Arthur Hayes, I've been loving
• 0:26
  his work, All the Substack posts that he's been posting over the
• 0:30
  last couple of months or so, doesn't think that tariffs
• 0:34
  matter at all because he just came out and predicted A250K
• 0:39
  Bitcoin. You heard that right by the end
• 0:42
  of 2025 and we're going to get into all of the details as to
• 0:46
  why he believes that's the case and you better stay tuned until
• 0:50
  the end of the video because we're going to cover it all.
• 0:54
  Anyways, joining me today here to my right hand side of course
• 0:57
  is my legendary Co host Optimus Fields.
• 1:00
  We are in Dallas, TX for the Bit Block Boom conference which are
• 1:04
  going to be live streaming later on the week for you guys on
• 1:07
  Saturday. It's going to be a great
• 1:09
  conference and I hope to see a lot of you guys there.
• 1:11
  Anyways, everybody let's jump straight into today's news so
• 1:15
  far, who is Arthur Hayes? Arthur Hayes is the CEO and
• 1:20
  founder of Bitmex. Bitmex got a lot of no, no, got
• 1:25
  very famous because I believe it's like one of the first like
• 1:28
  exchanges that allowed you to do like 100 X leverage.
• 1:32
  And he was actually famously charged and convicted by the
• 1:36
  previous administration. So this is a very this is a a a
• 1:42
  a founder and CEO and the Bitcoin and crypto space that
• 1:46
  has a great reputation, successful entrepreneur.
• 1:49
  Obviously as Bitcoin Maxis. You know, we were Bitcoin only,
• 1:53
  but he he he went down the crypto casino route.
• 1:56
  But you know, to each throne, I guess.
• 1:58
  But anyhow, he got pardoned by Trump.
• 2:01
  Check out the CNNBC article Trump pardons 3 bit Mex crypto
• 2:06
  exchange Co founders and employee.
• 2:10
  And of course, one of them was Arthur Hayes.
• 2:13
  So let's talk about Arthur Hayes latest article where he unpacks
• 2:17
  all of this. He does a deep dive into the
• 2:19
  tariffs. He does a deep dive into what's
• 2:22
  happening, the power struggle that's happening between the
• 2:26
  Treasury and the Federal Reserve and how that impacts general
• 2:30
  macro markets, how that impacts Bitcoin.
• 2:33
  So there's a whole lot to unpack.
• 2:35
  First we're going to start off with this post that Arthur Hayes
• 2:38
  came come out with on March 23rd and he says I bet bit BTC hits
• 2:43
  110 K before it retest 76 K. And he goes on to say tariffs
• 2:51
  don't matter 'cause transitory inflation.
• 2:55
  Jay Powell told me so. And he goes on to say cause a
• 2:59
  lot of people couldn't understand his first cryptic
• 3:02
  post. He said my grammar was a bit
• 3:04
  off. What I mean is that the price is
• 3:06
  more likely to to hit 110 K then 76 K.
• 3:11
  Next if we hit 110 K then it's Yahtzee time.
• 3:15
  We ain't looking back until 250K Bitcoin.
• 3:20
  He dropped an article explaining what his rationale, what his
• 3:23
  reasoning was and was really fascinating about this article
• 3:26
  to me was again, the power struggle between the Federal
• 3:31
  Reserve and the Treasury. The fact is, is that for Trump
• 3:35
  to really roll out his agenda, he needs the Federal Reserve on
• 3:40
  his side. But right now, the Federal
• 3:42
  Reserve is not playing ball if you put the politics aside
• 3:45
  because again, their mandate is to get inflation under control.
• 3:48
  And right now inflation is running hot.
• 3:50
  But again, Trump needs a QE environment.
• 3:54
  So Arthur Hayes breaks it down. We're going to go through the
• 3:57
  entire article or not the entire article, but the the parts that
• 4:00
  I found the most interesting. So he goes on to say, quote the
• 4:03
  game has material materially changed?
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  After the Feds most recent March meeting regarding global dollar
• 4:10
  liquidity, Powell laid out a path towards a resumption of
• 4:15
  quantitative ease quantitative easing focused on the US
• 4:19
  Treasury bond market. While everyone is Hemming and
• 4:22
  hawing about whether the effects of tariffs are good or bad with
• 4:27
  the crypto markets should be rejoicing that QE will return
• 4:32
  and he believes that it will return by the summer.
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  He goes on to say. I spent the past few few weeks
• 4:40
  consuming the misses of my favorite macroeconomic analyst.
• 4:46
  A large part of every essay I read was devoted to parsing
• 4:50
  Trump's to intent, true intentions.
• 4:53
  Some say that Trump will go hard and break things until his
• 4:57
  approval rating slip into the low 30s range.
• 5:00
  Others say that Trump believes it's his mission and his last
• 5:03
  term to remake the world order and put America's financial,
• 5:08
  political, and military house in order.
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  The TLDR is that he's willing to tolerate significant economic
• 5:16
  pain and precipitous fall and popularity to do what he
• 5:21
  believes is right for America. And again, why is all of this?
• 5:26
  Why does all of this matter? All of this matters because
• 5:29
  again, you know, because Bitcoin is such a large asset, whether
• 5:34
  we like this or not, the general macroeconomic environment
• 5:39
  affects the price of Bitcoin. So anyways, Arthur Hayes
• 5:43
  continues to say Trump believes that by bringing these
• 5:46
  manufacturing jobs back to America, he can give good jobs
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  to the roughly 65% of the population who have no
• 5:54
  university degrees. Become a militarily stronger
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  because weapons and such will be produced in the quantities
• 6:01
  needed to face off against a peer or a near peer rival and
• 6:05
  glow. Grow the economy above trend at
• 6:08
  3 to 3% real GDP growth. There are some apparent issues
• 6:14
  with this plan. Prices will fall if China and
• 6:17
  others do not have dollars to prop up the Treasury in stock
• 6:20
  market. Scott Bessett, U.S.
• 6:23
  Treasury Secretary, needs buyers for the gargantuan amount of
• 6:27
  debt that must be rolled over and for the persistent federal
• 6:30
  deficits out into the future. His plan is to lower the deficit
• 6:34
  to 3% from roughly 7% by 2028. The second issue is that the
• 6:40
  capital gains taxes from a rising stock market are the
• 6:44
  marginal revenue drive for the government.
• 6:46
  When rich folks aren't making money slinging stocks, the
• 6:50
  deficit grows. Trump didn't campaign on a
• 6:53
  platform to cease military spending or cut entitlement
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  benefits like healthcare and Social Security.
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  He campaigned on a promise, a platform of growth and
• 7:04
  elimination of fraudulent spending.
• 7:07
  Therefore, he needs capital gains tax revenue even though
• 7:10
  it's rich people who own all the stocks and on average they
• 7:14
  didn't vote for him in 20, 2024. Assuming that Trump successfully
• 7:18
  reduces the deficit from 7% to 3% by 2028, the government is
• 7:24
  still a net borrow net borrower year after.
• 7:51
  Growth is 5%. If the government is issuing
• 7:55
  debt at 3% of the GDP rate, but is economically growing at
• 7:59
  nominally at at 5%, then mathematically the debt to GDP
• 8:03
  ratio will decline over time. There is one missing P piece.
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  At what interest rate will the government be able to finance
• 8:12
  itself? Theoretically, if the US
• 8:14
  government grows at 5%, nominally Treasury investors
• 8:18
  should demand at least 5%. But that would materially
• 8:22
  increase interest rates because currently the Treasury pays a
• 8:25
  weighted average interest rate of 3.282% on its $36 trillion in
• 8:32
  debt and growing debt pile pile. The maths don't add up.
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  Bessette can find a buyer of Treasuries at uneconomically
• 8:41
  high prices or low yield. The Chinese and other exporters
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  can't and won't buy Treasuries because Trump is busy remaking
• 8:49
  the global financial and trade system.
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  Private investors won't because the yield is too low.
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  Only US commercial banks and the Fed.
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  That's the key point here. The Fed have the firepower to
• 9:02
  buy the debt at a level the government can afford. the Fed
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  can print money and buy bonds which is called quantitative
• 9:10
  easing AKA money printer how we call it here.
• 9:13
  Money printer go Burr how we call it here at Simply Bitcoin.
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  Banks can print money and buy bonds, which is called
• 9:20
  fractional reserve banking. However, it's not that easy.
• 9:24
  The Fed is supposedly busy with its quest to bring the
• 9:28
  manipulated and fugazi metric of inflation below their made-up 2%
• 9:34
  target. It is very simple to change the
• 9:37
  state of play and turn the Fed and Bank into inelastic buyers
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  of Treasury. the Fed can decide at any at at a minimum to NQT
• 9:48
  and a maximum to restart QE. The question then becomes why
• 9:53
  would Jerome Powell's Fed help Trump accomplish his policy
• 9:57
  goals? the Fed blatantly helped Harris
• 10:01
  in her bid to win the election by cutting rates by .5% in
• 10:06
  September of 2024 and post Trump's victory proved to be
• 10:11
  what does that say? OBTI Obstinate.
• 10:14
  Here we go. Obstinate to Trump's demand that
• 10:18
  they increase the quantity of money such that long term
• 10:22
  Treasury yield decline. To understand why Powell will do
• 10:26
  what is required of him by the government, let's take a detour
• 10:30
  back to 1979. Now, I don't know if I could say
• 10:33
  this on YouTube, but it's absolutely hilarious right now.
• 10:38
  Powell is sitting in the UP chair, watching Beset ravage the
• 10:44
  Fed's credibility and fighting inflation.
• 10:48
  The BBC reigns supreme because fiscal dominance is in play.
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  In short, the Fed will assure independence and do what is
• 10:57
  necessary to finance the government at affordable rates
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  once the total amount of debt gets too large.
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  So essentially what Arthur is saying is that regardless of how
• 11:10
  Powell feels about the Trump administration, regardless of
• 11:14
  the fact that Powell helped Kamala get elected, it doesn't
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  matter. Essentially, Bessette and Trump
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  are putting Powell in a situation where he's going to
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  have no choice but to essentially reverse course
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  because the Fed can't have the US economy falter on its watch.
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  Now we've been speculating about this for the last couple of
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  weeks. You know me and Opti and again,
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  this is not up me and Opti's wheelhouse.
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  But it doesn't take a rocket scientist to see what is going
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  on here. And we've been speculating about
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  this. Who's saying listen, it looks
• 11:49
  like Trump's playing 40 chess. He's talking about the tariffs
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  to cause uncertainty in the markets, to essentially try to
• 11:56
  force the hand of the Fed to make the money printer go Burr.
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  Again, what Arthur is making the case for is that, listen, even
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  if the Fed wants to remain political, it's it's not going
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  to have a choice but to essentially do exactly what the
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  Treasury wants it to do. And he lays out a bunch of
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  historical examples of that happening in the past anyways.
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  So why are we talking about all this?
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  What does this have to do with Bitcoin?
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  It has everything to do with Bitcoin because Bitcoin has only
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  existed in a QE environment. Bitcoin has never existed in AQT
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  environment. So if Arthur is right that
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  they're going to reverse QT completely and start QE again in
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  the summer, look at what? Look at what has happened to
• 12:50
  Bitcoin and QE environments in the past.
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  Number goes up, Arthur continues to say.
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  Powell proved last week that fiscal dominance is alive and
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  well. Therefore, I am confident QT, at
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  least regarding Treasuries, will stop in the short to medium
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  term. Going further, Powell stated
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  that while the Fed may maintain mortgage-backed security runoff,
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  it will net by secure net by Treasuries.
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  Mathematically, that keeps the Fed balance sheet constant.
• 13:21
  However, this is Treasury QE. Bitcoin will scream higher once
• 13:25
  this is formally announced. Furthermore, because the banks
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  and the Treasury demanded, the Fed will grant the SLR exemption
• 13:34
  for the banks, which is another form of Treasury QE.
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  Ultimately the reason is that the maths I posted above will
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  not work otherwise and Powell cannot stand by and allow the US
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  government to falter even if he detests Trump.
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  Which is exactly why Arthur is calling Powell an uck to Besset
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  and Trump. Anyways, so the article
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  continues to say, and this is more related to Bitcoin.
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  Again, this is a Bitcoin show. All of this relates to Bitcoin.
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  Bitcoin didn't exist back in 2008, but now it does.
• 14:16
  Bitcoins value equals technology plus Fiat liquidity.
• 14:21
  I think it's very, very important.
• 14:23
  I think the technology, the technology component had a lot
• 14:27
  more significance back in bitcoins early days, but now
• 14:31
  that the halvings are becoming less and less impactful, I think
• 14:36
  it's I think it has more to do with just global Fiat liquidity.
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  I think Arthur has made the case for that as well.
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  I don't know if he made the case for that in this article, but
• 14:47
  I've seen him make the case for that in multiple podcasts that
• 14:50
  he's been on. The technology works and there
• 14:53
  aren't any any major changes, good or bad occurring in the
• 14:57
  near future. Therefore Bitcoin trades.
• 15:00
  So this is the most important part, Bitcoin trade solely based
• 15:05
  on the market expectation for the future supply of Fiat.
• 15:09
  If my analysis of the Feds major pivot from QT to QE for
• 15:15
  treasuries is correct, then Bitcoin hit a local low of 76500
• 15:20
  last month and now we begin the ascent to 250,000 by year end.
• 15:27
  Of course, this is not an exact science, but using the gold
• 15:31
  example, if I had to place a bet on whether I thought Bitcoin
• 15:34
  would hit 6070, 76576 thousand, 500 or 110,000 first, I would
• 15:42
  bet on the latter. Even if the US stocks continue
• 15:45
  falling in reaction to tariffs, a collapse in earnings
• 15:49
  expectations and or foreign demand waning, I am confident
• 15:54
  that the odds favor Bitcoin continuing to climb higher.
• 15:59
  Cognizant of the good and bad, Malstrom is deploying capital
• 16:04
  cautiously. We use no leverage.
• 16:06
  We buy in small clips relative to the size of our total
• 16:10
  portfolio. When the market goes up, I want
• 16:12
  to wish my size was bigger, but I am thankful it's not.
• 16:16
  When the market trades lower, we have been buying Bitcoin and
• 16:20
  altcoins at all levels between 90K and 76K.
• 16:24
  The pace of capital deployment will quicken or slacken
• 16:28
  depending on the accuracy of my predictions.
• 16:30
  I still believe Bitcoin could hit 250K by year end because now
• 16:36
  that Bessett has put Powell in his place, the fled the Fed will
• 16:41
  flood the market with dollars. This allows Xi Jinping to
• 16:47
  instruct the Central Bank of China to stop tightening
• 16:50
  monetary conditioning conditions onshore to defend the dollar
• 16:54
  yuan exchange rate, which increases the net quantity of
• 16:58
  yuan. And finally, Germany decided to
• 17:01
  build an army again paid for with printed EUR, and every
• 17:05
  other European nation must respond by building their own
• 17:08
  army with printed EUR because they're afraid of a 1939 Rick
• 17:14
  remix to Ignition Yahtzee. What an incredible article by
• 17:19
  Arthur Hayes. A lot to unpack their.
• 17:22
  I simplified it a little bit in a paragraph but essentially the
• 17:26
  Fed is no longer acting. Can you make this full screen?
• 17:29
  Thanks Opti. the Fed Opti's reading my mind. the Fed is no
• 17:33
  longer acting independently after the March FOMC meeting.
• 17:37
  It's clear that Powell and the Fed are now bending the knee to
• 17:41
  political pressure and will likely restart QEAK money
• 17:46
  printing to buy U.S. government debt.
• 17:50
  The Arthur argues that the Powell pivot means that fiscal
• 17:54
  dominance is back. The government's need to borrow
• 17:57
  and spend is overriding the Fed's mission to fight
• 18:00
  inflation. Powell, once determined to be
• 18:03
  tougher, tough like former Fed Chair Powell Volcker is now
• 18:07
  being compared to a much weaker Arthur Burns, who came to
• 18:11
  political pressure in the 1970s. The pivot is bullish for
• 18:16
  Bitcoin, gold and other assets that benefit from loose monetary
• 18:22
  policy. I was one of the best articles
• 18:24
  I've read that has broken down essentially the conditions that
• 18:28
  have been essentially the reason as to why we've been in the
• 18:32
  situation that we've been in for the last couple of months.
• 18:37
  And we we couldn't, we couldn't figure it out as Bitcoiners.
• 18:39
  Like we couldn't. In fact, we couldn't figure it
• 18:42
  out so hard that it's made me and Opti dive into macro
• 18:47
  articles, OK? Because we couldn't figure it
• 18:50
  out. I was like, listen, we are in
• 18:51
  the cycle. Numbers should be going up.
• 18:53
  And we just started doing a whole lot of research.
• 18:56
  I mean, to give us credit, we started connecting the dots
• 18:59
  before a lot of this. We're like Trump's playing 40
• 19:02
  chess. I don't think the Fed is being
• 19:05
  friendly towards the Trump administration.
• 19:07
  They definitely tried to help Kamala win this previous
• 19:11
  election. But once you connect the dots
• 19:14
  you you figure out what's happening.
• 19:16
  And according to this article, and I agree, Arthur Hayes isn't
• 19:20
  the only one to believe this as well.
• 19:22
  The Fed's not going to have a choice but to pivot in the
• 19:26
  summer in May and then once they pivot once QE is back, history
• 19:32
  has shown number goes effing up and I'm really excited for that.
• 19:37
  Anyways, Opti, what are your thoughts on this man?
• 19:39
  Incredible article by Arthur Hayes and I, I love the satire.
• 19:43
  I unfortunately guys, I couldn't, I couldn't read all
• 19:46
  the satire to you guys. It's a family friendly show
• 19:49
  family. Friendly show, but we'll post a
• 19:51
  link to the article. I highly recommend reading it.
• 19:54
  It's, it's very in depth. I, I think it's been the most
• 19:57
  accurate assessment of what's been going on in the general
• 20:01
  kind of macroeconomic landscape. Now is his prediction of 250K
• 20:06
  Bitcoin going to come true? Do is that a certainty?
• 20:08
  No one knows where the price of Bitcoin is going to be tomorrow
• 20:11
  or 12 months from now. But what we do know is that in a
• 20:15
  QE environment. Number goes up.
• 20:18
  That's generally what tends to happen anyways.
• 20:20
  Article. I mean anyways, article anyways.
• 20:22
  Opti, what are your thoughts about this?
• 20:24
  Bro? That was a lot.
• 20:25
  That was a lot of information to impact.
• 20:27
  I don't think we've ever started a simply Bitcoin live show with
• 20:31
  that much information condensed. No, not at all, not at all.
• 20:34
  And also everyone in the chat is saying you should let Opti read
• 20:38
  because Nico butchered way too much in there anyways, like what
• 20:41
  Nico was saying the last couple of weeks we've Nico and I have
• 20:44
  both kind of independently had to go to different macro sources
• 20:48
  to be like, OK, what is going on?
• 20:50
  You guys know, the last couple of days we've been talking on
• 20:52
  the show is like is this is this Bitcoin cycle differently what
• 20:56
  is different from the past? And as Arthur Hayes laid out,
• 20:59
  there is a few fundamental differences in this cycle.
• 21:02
  Obviously, as Nico was saying, we've, we basically lived in AQE
• 21:05
  environment for the lifetime of Bitcoin the last couple of
• 21:09
  years. You know, maybe real
• 21:10
  realistically just since QT ended, we're starting to see
• 21:14
  that we are pivoting here. But Arthur Hayes isn't the only
• 21:17
  one that's been saying this. And I've been listening to Tom
• 21:20
  Longo recently just to kind of grasp what is actually going on
• 21:23
  in the macro markets. And me and Ruston have both kind
• 21:26
  of independently came to the same idea and Arthur's
• 21:29
  essentially saying the same thing.
• 21:30
  What we're seeing right now is an economic war.
• 21:33
  But furthermore, it's not just a war between I, I.
• 21:36
  Wouldn't say it's more of like a power struggle, it's a
• 21:39
  political. Is that not a war?
• 21:40
  It's the same difference in my opinion.
• 21:41
  Yeah, but a war would be like a, a war would be defined as like
• 21:45
  essentially like the US is going to war with another country.
• 21:48
  I would say this is like an internal power structure.
• 21:51
  Well, well, there's two. It's 2.
• 21:53
  Internal power. Struggle.
• 21:54
  That's where I was going. Between the Federal Reserve
• 21:56
  that's supposed to not be political but might have been
• 22:00
  acting political, and the executive branch, the White
• 22:04
  House and the Treasury. No, yeah, you're 100% right.
• 22:07
  And that and that's the point, like what we're seeing is like
• 22:12
  two things playing out in real time.
• 22:14
  We're seeing that the last couple years, the Fed and the
• 22:17
  ECB, you know, America and Europe, they've been doing some
• 22:21
  things to kind of separate themselves, particularly from
• 22:24
  the Fed side. And we're seeing that the EU is
• 22:27
  is acting all kinds of strange ways.
• 22:29
  They're very concerned about what's going on because of the
• 22:32
  euro dollar system, the the creation of offshore dollars.
• 22:36
  And now we we're in this place where the Fed basically got the
• 22:39
  ECB into control. But internally here in the US,
• 22:43
  we are seeing that Treasury and the Fed are actively having this
• 22:48
  internal battle right now. And so we do have these Trump
• 22:51
  tariffs being announced in roughly 4 hours right now.
• 22:54
  And it's going to be very interesting to see what the
• 22:56
  markets do in reaction to this, not just the Bitcoin markets,
• 22:59
  but all markets. And the very huge part of that
• 23:02
  article that I think Arthur mentioned is what we're seeing
• 23:05
  happen in gold right now. Gold is still hitting all time
• 23:08
  highs. We know historically that
• 23:11
  Bitcoin lags the gold price. So if gold's hitting all time
• 23:13
  highs, it's only a matter of weeks.
• 23:15
  I would say that we're going to see Bitcoin hit all time high.
• 23:18
  We're seeing a record amount of gold liquidity movement right
• 23:21
  now. So people are trying to get into
• 23:23
  gold because of the general theme of you go to the hardest
• 23:26
  asset, you go to the best money when there's general uncertainty
• 23:29
  in the markets. And this is what we're dealing
• 23:31
  with. There's all kinds of uncertainty
• 23:32
  in the markets right now. And of course, us Bitcoiners are
• 23:36
  like we're, we're waiting at the finish line essentially.
• 23:38
  And I hate to say like Bitcoins already won, but we're, we're
• 23:41
  essentially waiting at the finish line and we're just like
• 23:43
  guys, like everyone's coming to Bitcoin.
• 23:46
  Obviously more traditional conservative investors go into
• 23:49
  gold first. But I think as we're kind of
• 23:52
  piercing this puzzle together, we're seeing a few indicators,
• 23:55
  leading indicators that I would argue are going to be super
• 23:58
  bullish for Bitcoin. Obviously, as we showed, I think
• 24:01
  it was yesterday, M2, global liquidity is on the rise and
• 24:05
  gold is hitting all time highs right now.
• 24:07
  So look, I'm sure maybe in the short term, like Arthur Hayes is
• 24:11
  saying, maybe later today, we'll we'll see, you know, at 4:00 PM
• 24:15
  or whatever it is, 4:00 PM Eastern, I believe, maybe we see
• 24:17
  Bitcoin dump. But right now we're at like, I
• 24:19
  don't know, 87. It's been pumping all morning.
• 24:22
  87 man 80I mean it. Liberation day bro, that's going
• 24:26
  on Liberation day. Was he talking about Bitcoin?
• 24:31
  Was Trump talking about Bitcoin? Well, his sons are probably
• 24:34
  That's the leading indicator. It seems like someone was a fan
• 24:38
  of me reading the article. Opti I appreciate appreciate you
• 24:41
  bro Thank you. Thank you for thank you for
• 24:44
  thank you for making me feel better.
• 24:45
  But anyways, lot listen in all seriousness, guys, you guys can
• 24:49
  check out the full article. We posted it in the live chat in
• 24:52
  the rumble live chat and we posted it in the video
• 24:54
  description. It'll go in the podcast
• 24:56
  description. Check it out has so much
• 24:58
  information in there and it's it's super fun read 'cause it's
• 25:01
  like written kind of like this satirical fashion.
• 25:04
  It's absolutely hilarious. But yes, the TLDR there's a
• 25:07
  power struggle between the Fed and the Treasury and the White
• 25:11
  House. And the EU.
• 25:13
  And essentially the treasury in the White House are trying to
• 25:17
  force the hand of the Fed, and the Fed is not going to have to
• 25:20
  have a choice but to comply and essentially go along with it.
• 25:24
  And when the Fed complies, money printer go Burr, money printer
• 25:29
  go Burr good for Bitcoin makes the number go up.
• 25:32
  And that's why he believes we'll hit 250K Bitcoin by the end of
• 25:37
  the year. And I'm telling you, I've been
• 25:39
  reading so many articles just trying to get to the bottom of
• 25:42
  this for like the last month or two.
• 25:45
  I've like, I'm like, why is the why is the Bitcoin price not
• 25:48
  going up? This article to me has been the
• 25:51
  one that has has felt the most on point as as felt the most the
• 25:57
  the one that it feels like it it.
• 25:59
  It's had the the, the deep, deepest understanding of the
• 26:04
  macro environment currently and why Bitcoin is behaving the way
• 26:09
  it is. So again, does that mean it's
• 26:12
  completely, 100% accurate? Does this mean that all these
• 26:15
  things are going to come true? No, but I don't know.
• 26:18
  It's just a hunch. I mean, we've been right on
• 26:21
  things so far, right? What do we say?
• 26:23
  You know, simply Bitcoin tomorrow's Bitcoin, tomorrow's
• 26:26
  Bitcoin news today. So anyways guys.
• 26:28
  Anyway, and last thing I want to say though, I know a lot of
• 26:30
  Bitcoiners are saying like I only care about Bitcoin.
• 26:32
  I only, I only worry about Bitcoin and I think that was
• 26:35
  true for a long time. But now as we are seeing Bitcoin
• 26:38
  is maturing guys. So like you do have to kind of
• 26:41
  factor in some macroeconomic landscapes of how bitcoins going
• 26:44
  to react in this new paradigm. I know for a while there a lot
• 26:48
  of us were getting burnt out with all the macro talk and
• 26:50
  we're like everyone's a macro expert now.
• 26:52
  Well, you know, news flash, we all kind of have to become macro
• 26:56
  experts because we are entering a new paradigm.
• 26:59
  We are maturing and everyone is going to start rushing to
• 27:03
  Bitcoin. Sorry to cut you off, Nico, no.
• 27:04
  No no, no, absolutely 100%. I think that's an amazing take.
• 27:08
  Anyways, I do want to give a shout out to the live stream
• 27:10
  2247 of you guys watching live between YouTube and X.
• 27:17
  If you guys are enjoying the show so far, make sure to smash
• 27:20
  that like button. We're already at 127 likes on
• 27:23
  YouTube. Help us break 200 likes.
• 27:26
  There's 600 of you guys watching live on YouTube.
• 27:28
  Help us break 200 likes by the time we get to the 45 minute
• 27:33
  part of the show. And of course, shout out to the
• 27:36
  hardcore Rumble audience. Almost 100 of you guys watching
• 27:39
  live on Rumble. If you guys are enjoying the
• 27:41
  show, make sure to smash that like button.
• 27:44
  Share the video again, really, really helps pushing this
• 27:48
  content forward. Guys, we had so much information
• 27:51
  jam packed to the beginning of the show, but we still have so
• 27:54
  much content for you guys. It's going to be an incredible
• 27:57
  show for you guys. Today we have a video of
• 28:00
  Representative Begich of Alaska saying that the United States is
• 28:06
  going to be buying 1,000,000 bitcoins soon.
• 28:10
  And then during the new segment we're going to be talking about
• 28:14
  Nigeria. Now, the reason that we're
• 28:16
  talking about Nigeria is because Nigeria sued Binance and
• 28:21
  essentially Nigeria was blaming Binance Finance for the failure
• 28:27
  of their currency. And the reason this is important
• 28:29
  is because Nigeria was one of the first countries to launch a
• 28:34
  central bank digital currency that is called the E naira.
• 28:38
  And it was an absolute total failure.
• 28:42
  But the reason that we're covering this is because it's a
• 28:44
  foreshadowing. It's showing you what's going to
• 28:48
  happen in the future, right? So a government launches a CBDC
• 28:53
  and I think in Europe, I think this is, this applies to Europe
• 28:55
  the most, right? Because Europe is going down the
• 28:58
  CBDC route, the United States is going down the stable coin
• 29:01
  route. So what?
• 29:04
  How did Nigeria react? So the CBDC essentially was a
• 29:07
  failure. And instead of saying like, you
• 29:10
  know what, like, we should probably address the reasons as
• 29:14
  to why it was a failure. And the reason that CBDC's will
• 29:17
  fail compared to more open monetary networks is because
• 29:23
  governments are always going to want to do 2 things.
• 29:25
  They're always going to want to debase the currency and they're
• 29:28
  always going to want to control the currency.
• 29:30
  But instead of taking responsibility and saying, hey,
• 29:33
  you know what guys? Like we should probably just
• 29:36
  stop printing money. No, they actually blamed one of
• 29:41
  the off ramps. They said no, we don't want
• 29:44
  people escaping to Bitcoin. We don't want people escaping to
• 29:48
  Tether. And the reason I'm bringing this
• 29:50
  up is I suspect that once they roll out the CBDC and all these
• 29:56
  countries all around the world, the the governments are not
• 29:59
  going to blame themselves for the failure of adoption of these
• 30:03
  CBDC's. They're going to blame the
• 30:07
  alternatives and they're going to go after the companies that
• 30:11
  allow you to off ramp into those alternatives.
• 30:15
  So the Nigeria example is a great case study of what could
• 30:20
  happen. And remember in Nigeria, they
• 30:23
  jailed one of the finance executives.
• 30:26
  It wasn't until the Trump administration came in there and
• 30:29
  made a deal with the Nigerian government that this executive
• 30:32
  was freed. So we're going to be talking
• 30:34
  about that during the news. I think it's a fascinating
• 30:36
  topic. And then during the culture
• 30:38
  segment, you guys might be asking why are Opti?
• 30:41
  Why are Opti doing? Why are we doing a show in
• 30:44
  person in the flesh next to each other?
• 30:46
  We are in Dallas, TX for the Bit Block Boom conference that's
• 30:52
  going to be happening on Saturday.
• 30:53
  And of course we're going to be live streaming the entire
• 30:56
  conference for you guys. So many awesome speakers.
• 30:59
  We got Larry Leopard, James Lavish, Dante Cook, Marty Bent.
• 31:04
  It's going to be absolutely awesome.
• 31:06
  And of course we're going to be having the news desk as well.
• 31:09
  So I hope to see you guys at Bit Block Boom on the conference is
• 31:13
  on Saturday. And again, if you use promo code
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  At the time of recording, the Bitcoin price is $87,200.
• 36:05
  Block height 890,587 sats per dollar 1147 market cap 1.73
• 36:14
  trillion Bitcoin versus gold market cap 7.88% Percentage
• 36:20
  issued 94.5% decline from all time high -20.1%.
• 36:27
  Realize monetary inflation .89%. The grand scheme of things,
• 36:31
  you're getting a 20% discount if you're buying Bitcoin right now.
• 36:35
  And again, my favorite stat right out of all of this, I'm
• 36:38
  going to continue saying this is going to go down for zero.
• 36:41
  It's going to go down to 01 day. Maybe me and Opti will be like
• 36:44
  80 years old, but this will be in the .00 something percent,
• 36:49
  the realized monetary inflation rate.
• 36:51
  Even if central banks get, you know, the inflation rate back
• 36:56
  down to that magical 2% number that nobody can explain why it's
• 37:00
  2%, Bitcoin is still lower than that.
• 37:04
  And by the way, that number will continue to go down forever.
• 37:07
  When me and Opti added that stat to Clark Moody's dashboard it
• 37:12
  was like 3% I believe. Right.
• 37:14
  I think it was 394. It was like. 394 and it's just
• 37:17
  continuing to go down and with the having like this is absolute
• 37:20
  scarcity. This is what you're watching in
• 37:22
  front of your eyes. Anyways, here is Representative
• 37:26
  Begich. Representative Begich was the
• 37:29
  cosigner to Cynthia Lummis's Bitcoin Act when she
• 37:33
  reintroduced it at the Bitcoin Policy Summit that our friends
• 37:38
  over at the Bitcoin Policy Institute headed by David Zell
• 37:43
  had a couple weeks ago. And Representative Begich, what
• 37:46
  we found out is that he's been buying Bitcoin since like 2014,
• 37:51
  right? So this is, we have a Bitcoiner
• 37:54
  in Congress and he was he, he, he was a cosigner to the Bitcoin
• 37:59
  Act 2 that was introduced by Senator Lummis.
• 38:04
  Now, when I interviewed Senator Lummis in DC earlier on this
• 38:07
  year, I asked her a question. I said, are you working with the
• 38:10
  Trump administration? She says they're working with
• 38:12
  the Trump administration very, very closely.
• 38:14
  So again, obviously Representative Begich is working
• 38:19
  very closely with Senator Cynthia Lemus or else they
• 38:21
  wouldn't have Co signed the bill.
• 38:23
  So again, and if you connect the, you know, the dots with Bo
• 38:28
  Hines, right, that part of the Trump cabinet, you know, Bo
• 38:32
  Hines is basically saying we're finding ways to acquire Bitcoin
• 38:36
  in net neutral ways, right? So again, ideally we would want
• 38:41
  the Bitcoin Act to be passed because then there will be
• 38:44
  longevity and the strategic Bitcoin reserve of the US if it
• 38:49
  isn't passed, if it's done via executive order, it's great as
• 38:54
  long as Trump's in the White House.
• 38:55
  But you know, if the Republicans lose, you know, the, the, the
• 38:59
  White House in 2028, which is a, a possibility, then you know,
• 39:04
  essentially the, the next administration could reverse
• 39:07
  everything that the Trump did, Trump administration did in
• 39:11
  regards to the strategic Bitcoin reserve.
• 39:13
  So anyways, from a number go up perspective, I think this is
• 39:16
  very bullish, but from a revolutionary perspective, we
• 39:20
  want individuals taking self custody of their Bitcoin.
• 39:24
  If enough of us do that, we win and there's absolutely nothing
• 39:27
  they can do about it. So I'm going to play you guys
• 39:29
  this clip of Representative Begich basically saying that the
• 39:32
  United States has the intention to acquire 1,000,000 Bitcoin in
• 39:36
  the near future. Let's check it out.
• 39:38
  Bitcoin Act establishes the Strategic Bitcoin Reserve
• 39:42
  federal initiative to ensure that the United States holds a
• 39:45
  meaningful position in the most important decentralized
• 39:48
  financial network on earth, with an eye to fiscal responsibility
• 39:52
  and innovation. The legislation outlines a plan
• 39:55
  to phase in the acquisition of up to 1,000,000 Bitcoin, or
• 39:58
  roughly 5% of its total final supply over five years.
• 40:03
  Importantly, this will be done without raising taxes or
• 40:06
  increasing government debt. The Bitcoin Act is designed to
• 40:09
  be budget neutral, relying on Federal Reserve remittances,
• 40:13
  which exceeded $76 billion in 2023, gold certificate
• 40:17
  revaluations, unlocking additional capital without new
• 40:21
  spending, and updates to the Exchange Exchange Stabilization
• 40:25
  Fund. These mechanisms allow us to
• 40:27
  build a strategic reserve without burdening taxpayers,
• 40:30
  while also potentially offset. All right, Opti, I mean, what do
• 40:39
  you think? What are your thoughts?
• 40:41
  Well, first of all, I think I just have to continue to
• 40:44
  acknowledge just like where we are in the Bitcoin movie that we
• 40:48
  have, you know, governors from any state talking about Bitcoin
• 40:53
  favorably. We were literally saying two
• 40:55
  years ago, well, Nico, it was more Nico saying it.
• 40:57
  But two years or rather last year, we were, we were afraid of
• 41:01
  even being Bitcoiners in America.
• 41:03
  And you know, love or hate the Trump administration, they have
• 41:06
  done very good things in regards to Bitcoin.
• 41:09
  And I think we're going to see more of this.
• 41:11
  You can tell not just from Trump himself, but from his kids, you
• 41:15
  know, interest and their new acquisitions in HUD 8 or rather
• 41:18
  partnership in HUD 8. I think they're calling it
• 41:20
  American Bitcoin miner or something like that, that
• 41:24
  they're serious about this Bitcoin thing going on right
• 41:27
  now. And shout out to my boy Nolan,
• 41:29
  because he's been saying this for a long time on the breakup
• 41:32
  that we are potentially, and it seems like it's actually
• 41:36
  happening, entering into a bimetalism period, or rather
• 41:40
  renewing a bimetalism period in the US, though, instead of it
• 41:43
  being silver and gold, it's probably going to be gold and
• 41:47
  Bitcoin and or rather, you know, Fiat and Bitcoin because you
• 41:52
  know, you're, you're going to, you're going to spend your Fiat,
• 41:54
  you're going to save your Bitcoin.
• 41:55
  So if we are entering into this bimetalism period and it's Fiat
• 42:00
  and Bitcoin, obviously, as we can tell right now, the Hottel
• 42:04
  meme is going to be very strong because hey, you can't save
• 42:07
  dollars. You need something to save in,
• 42:09
  especially if we're doing this situation now where like, you
• 42:12
  know, the rich, wealthy people in the stock market are getting
• 42:14
  kind of wrecked and average everyday people, whether you're
• 42:17
  rich or not, need something to store your value in.
• 42:20
  And this seems like where we are right now.
• 42:22
  But talking about some of these budget neutral ways for them to
• 42:26
  acquire Bitcoin, obviously, I, I would definitely agree with this
• 42:30
  idea that we shouldn't be raising our tax dollars to buy
• 42:32
  Bitcoin. I mean, I like, I don't need to
• 42:35
  add more to it, but I think that the, the real interesting
• 42:38
  aspect, first we heard it from Bo Hines.
• 42:40
  Now we're hearing it from governor baggage, this idea of
• 42:43
  reevaluating the gold that we hold if we do that.
• 42:46
  And then further, they've been talking about selling that gold
• 42:49
  to buy Bitcoin. It's like I, I, it's hard to
• 42:52
  tell what timeline we're in right now and what is actually
• 42:56
  going on and what and kind of knowing Trump in the art of the
• 42:59
  deal, it it's kind of interesting to see what they put
• 43:03
  out there and what will actually to materialize.
• 43:05
  Obviously we're at what are we 70 days ish since Trump became
• 43:12
  the president got inaugurated. So I know I'm sorry, BJ, blame
• 43:16
  Canada. Yes, I'll be we're here with
• 43:18
  Murph and we've been trolling him.
• 43:19
  We're blaming Canada for everything.
• 43:22
  So it's just very interesting to see what's going to materialize.
• 43:25
  Obviously a lot of this is rhetoric.
• 43:27
  I obviously want to see an act and not just an executive order.
• 43:31
  You know, personally, I'm not too fond of the US government
• 43:34
  acquiring too much Bitcoin, but I think the, the, as Nika like
• 43:38
  to say, you know, the shot across the bow here is that now
• 43:42
  the bow. Sorry, Nika, we both can't speak
• 43:45
  English. The the main signal here is,
• 43:49
  hey, if the US fully embraces Bitcoin, then what does that
• 43:53
  mean for every other country in the world that they can't ignore
• 43:56
  it, that everyone else is going to literally rush to the exit
• 43:59
  door that is Bitcoin? And we all know what's going on
• 44:02
  with treasuries. Trump administration is doing
• 44:04
  whatever they can to get people to buy U.S. debt and people
• 44:08
  don't want it right now. So we're seeing all kinds of
• 44:10
  crazy stuff. Obviously, I want to see some of
• 44:13
  this materialize. I, I really want to see a, a
• 44:15
  little further, you know, a little, a little further action
• 44:19
  in the Bitcoin front. But I think this is all very,
• 44:23
  very undervalued in, in terms of Bitcoin price.
• 44:27
  I think very few people really understand what's going even as
• 44:29
  Bitcoiners hardly understand what's going on.
• 44:31
  We have to like relearn everything thing that we've
• 44:34
  known, but with our Bitcoin fundamentals and be like, wait,
• 44:36
  where are we actually going right now?
• 44:38
  So crazy times we're living in. I, I think we're going to see
• 44:41
  some, some really good things in terms of Bitcoin in the next 4
• 44:44
  years. I think we're going to see crazy
• 44:46
  stuff by like, you know, this year.
• 44:48
  So I'm I'm super excited to see how this Bitcoin narrative
• 44:52
  develops and further what the action is going to be around
• 44:55
  Bitcoin in the United. States 100%.
• 44:58
  I mean, again, like from a number go up perspective, it's
• 45:01
  extremely bullish. I mean, it's still
• 45:03
  legitimization that the world's, the world's most powerful
• 45:08
  country economically, militarily is essentially putting a rubber
• 45:11
  stamp of approval on Bitcoin. And it's just going to force
• 45:15
  other central banks around the world to acquire Bitcoin as
• 45:19
  well, right? And it's inevitability,
• 45:23
  especially countries like China, like Russia, that, you know, see
• 45:26
  the United States as rivals. the United States is acquiring
• 45:29
  Bitcoin. They're going to they're they're
• 45:31
  going to follow in the footsteps of the US, right?
• 45:33
  I mean, you had a German politician to put you guys a
• 45:35
  video, I believe she spoke at Bitcoin Amsterdam and she was
• 45:38
  basically making the case like look like if the US is buying
• 45:40
  Bitcoin, like we're all gonna not have a choice but to buy
• 45:43
  Bitcoin as well. And again, very bullish from a
• 45:45
  number go up perspective, but from a revolutionary
• 45:49
  perspective, from an individual perspective, again, you want
• 45:52
  more individuals holding Bitcoin in self custody rather than you
• 45:58
  want more individuals holding Bitcoin in self custody rather
• 46:01
  than nation States and governments holding Bitcoin,
• 46:04
  right? So, but again, you know, the
• 46:06
  Jeff Booth quote comes to mind, right?
• 46:08
  Which is, you know, the thing about Bitcoin is that you're
• 46:11
  going to have to be OK with even your worst enemy holding
• 46:14
  Bitcoin. Now that's just a reality, you
• 46:16
  know. So anyways guys, we still have a
• 46:19
  jam packed show for you guys. We're going to be talking about
• 46:21
  the Nigeria case study during the news.
• 46:24
  So we're going to hit that and we will be right back.
• 46:26
  If you guys are enjoying the show so far, we broke our our
• 46:29
  200 like target. Help us break 250 likes by the
• 46:35
  end of the show. So smash that like button.
• 46:38
  We will be right back ladies and gentlemen, I want to give a
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  Check out leaden dot IO today. All right, everybody, we are
• 49:15
  back. Let's talk about today's news
• 49:19
  and the reason this is important.
• 49:20
  Perhaps a lot of you guys are like, listen, you know I'm not
• 49:24
  from Nigeria. You know, the vast majority of
• 49:27
  our audience are from the United States and, and the United
• 49:31
  Kingdom and Canada. So it's like look like, you
• 49:33
  know, I don't this isn't impacted me.
• 49:36
  Well, it does. And the reason that it does is
• 49:38
  because again, you have to see it as a case study because the
• 49:43
  series of events, they wouldn't change if it happened in another
• 49:47
  country. So again, Nigeria was the first
• 49:51
  country to launch a central bank digital currency on a massive
• 49:54
  scale. It's called the Enira and it was
• 49:57
  a massive, massive failure. And the whole point of central
• 50:01
  bank digital currencies is for governments to essentially
• 50:06
  retain their power of being able to create money for free.
• 50:09
  That everyone asks us to work for their control over money and
• 50:13
  their control over essentially their ability to just issue
• 50:18
  money and, and cause inflation. And they want to, they want to
• 50:20
  retain that control. So, so CBDC is like trying to
• 50:24
  justify the continuation of government issued money and
• 50:29
  Bitcoin wouldn't even exist today if governments didn't
• 50:33
  abuse that trust we bestowed onto them.
• 50:37
  Now you can make an argument that before Bitcoin came around,
• 50:40
  that was the best way. There was no other way, right?
• 50:43
  You had to do it that way. But after Bitcoin was invented
• 50:47
  or discovered, depending on how you view it, every block that's
• 50:52
  found every day that Bitcoin continues to exist, Bitcoin
• 50:56
  proves that money can exist without inflation.
• 51:01
  And remember, currency debasement is a huge source of
• 51:05
  revenue for governments. But this is a source of revenue
• 51:09
  that the citizens did not agree to.
• 51:12
  We agreed to income tax, We agreed to property tax.
• 51:16
  I know a lot of people don't like those things, but it's in
• 51:18
  the social contracts, it's in law as as people we did not
• 51:26
  agree to the money tax. And anytime we bring it up and
• 51:30
  we complain, they gaslight us. They blame everything and
• 51:35
  anything as the cause of inflation but themselves, even
• 51:40
  though the government printing money is the sole cause of
• 51:44
  inflation. It's not the war in Russia, it's
• 51:47
  not the supply chains, it's not the pandemic.
• 51:51
  They're debasing the currency. That's it.
• 51:54
  And Bitcoin just takes a mirror and it exposes it.
• 51:58
  It shows it because it proves that money can exist and
• 52:02
  function in a much better fashion without the necessity of
• 52:07
  having to debase it, right. So anyhow, to give a lot of that
• 52:12
  context, so Nigeria launched ACBDC.
• 52:16
  It was a total failure. And instead of, you know,
• 52:19
  looking inward and saying, you know what guys, we got to be
• 52:22
  more fiscally responsible, they sued the biggest on ramp in the
• 52:26
  country for 81. Nigeria sues Binance for $81.5
• 52:32
  billion in economic losses and unpaid taxes.
• 52:36
  It goes on to say the Nigerian government has filed a lawsuit
• 52:41
  against Binance demanding 79.5 billion in compensation for
• 52:45
  economic losses. The case submitted to the
• 52:48
  Federal High Court and in Nigeria, alleges that the
• 52:51
  cryptocurrency exchange operated in Nigeria without a license and
• 52:55
  failed to hear adhere to tax regulations.
• 52:59
  So Nigerian authorities blamed Binance, the world's largest
• 53:02
  crypto exchange, for the country's currency challenges, a
• 53:06
  claim refuted by CEO Richard Tang.
• 53:10
  And it goes on to say in 2024, Gambarian and the Binance Africa
• 53:15
  lead were detained and amid a crackdown on crypto platforms,
• 53:20
  notably Binance, which had preferred channels for trading
• 53:24
  the local naira. So the the key to this passage
• 53:29
  is Nigerian authorities blamed Binance for the country's
• 53:34
  currency challenges. That isn't.
• 53:37
  And the reason I'm bringing this up, the reason that you guys
• 53:40
  listen, we just went through the separation of information and
• 53:43
  state. It was super, super messy.
• 53:47
  They de platformed individuals. They censored, They censored
• 53:51
  information. They literally de platformed a
• 53:55
  sitting precedent. They de platformed people based
• 53:59
  on their political ideas, their political thoughts, right?
• 54:02
  They were labeling everything left and right, misinformation.
• 54:07
  Even in the United States that has First Amendment protections.
• 54:12
  the US government was asking social media platforms to censor
• 54:16
  on its behalf. And it wasn't until Elon
• 54:19
  acquired X and freed the bird in the process that we are
• 54:24
  essentially finding all this news out.
• 54:26
  Now it's a little bit different. The information landscape
• 54:30
  completely changed, right? We went over the hump of the
• 54:35
  disintermediation of information and state.
• 54:39
  Now all of a sudden, individuals all around the world could could
• 54:42
  talk freely amongst each other directly, peer-to-peer like
• 54:45
  we're doing with you guys right now.
• 54:48
  And all of a sudden, the information game changes.
• 54:51
  Because before social media, there was only a handful of
• 54:54
  media outlets of which people could get their news from.
• 54:58
  But what we discovered during the pandemic, what we discovered
• 55:01
  during the last 10 years, is that a lot of those media
• 55:04
  outlets weren't necessarily media outlets.
• 55:07
  They really acted like propaganda outlets.
• 55:11
  And the reason that independent media is succeeding, the way
• 55:14
  it's succeeding is because people were sick and tired of
• 55:18
  being lied to and they were seeking the truth.
• 55:22
  So they would rather listen to some dude that smokes weed,
• 55:27
  talks about DMT and eating elk, then, you know, getting fed lies
• 55:33
  by a dude on ATV with the with the tie.
• 55:38
  And the dude that I was referring to, of course, is Joe
• 55:40
  Rogan. The most popular broadcasters on
• 55:43
  the face of the Earth right now are not from the legacy media.
• 55:48
  They're from independent media. And the reason I'm bringing all
• 55:51
  of this up is because that was the disintermediation of
• 55:55
  information and state. What we're heading into right
• 55:59
  now is the disintermediation of money and state and what's going
• 56:04
  to happen. The Nigerian case study is a
• 56:09
  great example of that. Do you it like, think about it
• 56:13
  this way. How did governments react when
• 56:16
  people started posting information on social media that
• 56:20
  made them look bad? Did they look into it?
• 56:22
  Like, did they look And they did they look within themselves?
• 56:25
  And they say, hey, guys, you know what?
• 56:26
  Like we should probably stop blaming inflation on the
• 56:30
  weather. No, they didn't do that.
• 56:32
  They said if it's, if you say that inflation is not caused by
• 56:36
  the, by, you know, the weather, you're a danger to democracy,
• 56:40
  that's misinformation and they just gaslit people.
• 56:44
  So we're going to go through a very similar type of process.
• 56:48
  Of course, Bitcoin's going to win at the end because it has
• 56:50
  better incentives. And the Nigerian case study is a
• 56:53
  great example of what they can potentially do, which is they're
• 56:58
  going to go after the on ramps and the off ramps.
• 57:01
  And This is why it's never been as important as it is today to
• 57:05
  take self custody of your Bitcoin.
• 57:09
  Now, of course, Nigeria, walk this back a little bit.
• 57:11
  Up to you if you could share the screen, please.
• 57:13
  Nigeria, walk this back a little bit.
• 57:15
  This is one of the latest articles dropped a couple days
• 57:18
  ago, about a week ago or so. And the name of the article is
• 57:23
  regulation. We are not out to cripple
• 57:25
  anybody. There are other companies
• 57:27
  operating in the crypto sector in Nigeria.
• 57:30
  You don't see them facing charges.
• 57:31
  Nigeria says amid Binance trial, the information minister denied
• 57:37
  that Binance was being held responsible for the devaluation
• 57:40
  of the naira. Again, you know, that always
• 57:43
  comes out, which was driven by factors including the
• 57:46
  government's decision to float the currency in 2023.
• 57:49
  He maintained that the charges against Binance focus on tax
• 57:53
  evasion and money laundering, although he said Binance
• 57:56
  contributed to the currencies to valuation.
• 58:00
  Right. Like, you know, I again, guys
• 58:02
  like it just reminds me of, you know, the sovereign individual,
• 58:07
  which I always reference this and I really recommend reading
• 58:10
  this book because it predicts it predicted a lot of these things
• 58:13
  that that are happening. So these are quotes from the
• 58:16
  book itself. In the new in the new
• 58:19
  Millennium, cyber money controlled by private markets
• 58:22
  will supersede Fiat money issued by governments.
• 58:25
  Only the poor will be victims of inflation and ensuring collapses
• 58:29
  into deflation that are consequences of the artificial
• 58:32
  leverage with Fiat money injects into the economy.
• 58:36
  Lacking their accustomed scope to tax and inflate, governments
• 58:40
  even in traditionally civil countries will turn nasty, It
• 58:44
  goes on to say, as income tax becomes uncollectible.
• 58:47
  And again, this isn't just income when when they're
• 58:50
  referring to income tax. Inflation is a form of taxation.
• 58:54
  OK, older and more arbitrary methods of extraction will
• 58:58
  resurface the ultimate form of withholding tax, the de facto or
• 59:02
  even over hostage taking. What did they do with the
• 59:06
  finance executives? They arrested them.
• 59:09
  Businesses that offer services that facilitate the realization
• 59:13
  of autonomy by individuals will be subject to infiltration,
• 59:17
  sabotage, disruption. Arbitrary forfeiture of property
• 59:21
  already commonplace in the United States where it occurs
• 59:24
  5000 times a week, will become even more pervasive.
• 59:28
  Governments will violate human rights, censor the free flow of
• 59:32
  information sound familiar Sabotage useful technologies and
• 59:36
  worse. So the reason we're covering all
• 59:39
  of this is to arm you guys with the knowledge, with the truth
• 59:44
  again, self custody, Bitcoin and self custody is power.
• 59:48
  This is how you achieve financial sovereignty as an
• 59:52
  individual. Don't let governments that have
• 59:56
  been completely irresponsible with the trust that we bestowed
• 1:00:00
  to them by being essentially the ones responsible for money.
• 1:00:06
  Don't let them gaslight you into thinking that somehow.
• 1:00:12
  The the popularity of their CBD CS not taking off or the
• 1:00:17
  adoption of the CBDC not taking off is somehow your fault or is
• 1:00:21
  somehow the fault of Bitcoin or is somehow the fault of Binance.
• 1:00:25
  No, it's Bitcoin is better money and governments have never had
• 1:00:30
  competition with money. And more specifically it when
• 1:00:33
  they had competition, because that competition wasn't
• 1:00:37
  decentralized, governments had the ability to shut it down.
• 1:00:42
  But because Bitcoin is decentralized, they can't shut
• 1:00:45
  it down. And because they can't shut it
• 1:00:47
  down, they're forced to have to compete with it.
• 1:00:50
  And when they're forced to have to compete with it, they don't
• 1:00:52
  like the competition because they can't match.
• 1:00:54
  They can't match the incentives that Bitcoin provides, right?
• 1:00:57
  So again, the Nigerian case study, it's extremely
• 1:01:01
  interesting, very fascinating, something to keep in mind.
• 1:01:05
  And guys, we're winning. This is this is this is every
• 1:01:09
  indication that we're winning. But again, I still think we have
• 1:01:12
  a hump to go over. I think we won the
• 1:01:15
  disintermediation of information and state.
• 1:01:17
  I think we're on the verge of going over the hump of the
• 1:01:21
  disintermediation of money and state.
• 1:01:24
  I in the United States, it was very favorable that this current
• 1:01:28
  administration won the previous election.
• 1:01:31
  We have a very favorable regulatory environment in the
• 1:01:34
  United States, right? But that isn't the case in all
• 1:01:37
  countries. Europe is going full steam ahead
• 1:01:40
  down the central bank digital currency route, right?
• 1:01:45
  So anyways, Opti, what's your chat on this?
• 1:01:48
  I mean, what's your, what's your thoughts on this man?
• 1:01:49
  I went on a little bit of a ramble, but I think it's
• 1:01:52
  incredibly important to point this out because this is a, this
• 1:01:55
  is a great case study. What, what?
• 1:01:56
  What's happening in Nigeria? Yeah, 100%.
• 1:01:59
  And I, I think the biggest signal there is what did they
• 1:02:02
  say that they blame the devaluation of the, I forget
• 1:02:06
  what their, what their Fiat, the naira, the naira.
• 1:02:09
  They, they blamed the devaluation of the naira on
• 1:02:12
  Bitcoin. And I've been saying for a long
• 1:02:14
  time, and we're, we are seeing these case studies pop up around
• 1:02:18
  the world where they start to blame Bitcoin and Bitcoiners for
• 1:02:21
  their own problems. I mean, I forget who it was, but
• 1:02:24
  it was someone, I think it was either that the Fed or the ECB.
• 1:02:27
  And they were essentially saying like, oh, you know, blame
• 1:02:31
  Bitcoin for inflation, like blame Bitcoin for the fact that
• 1:02:34
  we're devaluating our own Fiat currencies.
• 1:02:37
  And so I've been saying for a long time, even though we are
• 1:02:40
  seeing some kind of light at the end of the tunnel in the US,
• 1:02:44
  I've been saying, especially when we were kind of being
• 1:02:47
  attacked with Operation Choke .2 point O last year, that we will
• 1:02:51
  most likely see more attacks of this nature where they blame
• 1:02:55
  Bitcoin and Bitcoiners for their own problems.
• 1:02:57
  Obviously pure projection. And I'm glad we have at at at
• 1:03:01
  the very least a small case study in Nigeria because you
• 1:03:04
  know, a shouts out to our boy Jimbo on the rumble chat.
• 1:03:07
  He's a huge cashless advocate here.
• 1:03:10
  And he and he basically says that we're, you know, we're all
• 1:03:13
  headed towards the digital dystopia.
• 1:03:14
  They're going to be able to control cashless societies and
• 1:03:16
  they want to eliminate cash so that they can control you.
• 1:03:19
  He's a Fiat maxi. He stores his value in Fiat.
• 1:03:23
  Well, look, we have a case study here.
• 1:03:25
  We know that they're trying to usher us into a cashless
• 1:03:28
  society. I mean, all cash is essentially
• 1:03:30
  digital anyways. But there is a fork in the road.
• 1:03:33
  There's a CBDC world and a Bitcoin world, 11 world where
• 1:03:37
  the digital money is controlled, can be turned off, can have the
• 1:03:39
  expiration dates and one that is permissionless, censorship
• 1:03:43
  resistant that they can't control, that goes up forever.
• 1:03:46
  It's very simple. As someone that is a basically a
• 1:03:50
  digitally native person, I've grown up on the Internet.
• 1:03:52
  I see where the world's going. We're seeing that the SWIFT
• 1:03:55
  system, the traditional Fiat system is antiquated here.
• 1:03:59
  It is old, it's barely functioning.
• 1:04:01
  It's on its last leg and there's, there's really no
• 1:04:05
  choice. You either have to choose
• 1:04:07
  Bitcoin or you choose ACBDC. And we're seeing that, hey, when
• 1:04:11
  they tried, when the government tried to force a CBDC on
• 1:04:14
  Nigerians, they were like, yeah, I don't trust you.
• 1:04:17
  I don't want this money. I'm going to do whatever I can
• 1:04:21
  to ignore this money. And of course, you're seeing the
• 1:04:24
  reaction from the government and they essentially blame CZ.
• 1:04:27
  And, you know, I wish one of our boys was in here all the time
• 1:04:30
  because he would usually say CZ did nothing wrong.
• 1:04:32
  I wouldn't go that far. But I'm just saying that, you
• 1:04:36
  know, that these attacks are coming.
• 1:04:38
  They're going to blame Bitcoin and Bitcoiners for their own
• 1:04:41
  problems. And so I've been, I've been
• 1:04:43
  basically saying this for over a year now that we have to be
• 1:04:46
  aware that this is probably coming down the pipeline as
• 1:04:49
  Bitcoin goes up in price. A lot of people are going to
• 1:04:52
  come after Bitcoiners because you were smart.
• 1:04:54
  You took the time to understand Bitcoin.
• 1:04:56
  You huddled through all of the peaks and dips.
• 1:04:59
  It wasn't easy. And then they're going to be mad
• 1:05:01
  that you have some wealth and they are basically being cut out
• 1:05:05
  of the, the financial system. So I, I don't think this is
• 1:05:08
  going to stop. I think this is only going to
• 1:05:10
  continue. It will get a little bumpy, but
• 1:05:12
  as a big corner, you do have truth on your side.
• 1:05:15
  And then, you know, just just don't get mad at people for them
• 1:05:18
  not understanding what is actually going on.
• 1:05:20
  We, we just just be, I'm aware that these attacks are coming.
• 1:05:23
  I, I think we're going to see way more of this stuff, Nico.
• 1:05:26
  100% I mean, again, This is why we're covering this.
• 1:05:28
  It's it's kind of like a foreshadowing to what, what,
• 1:05:32
  what, what could potentially happen to countries that are
• 1:05:36
  really, really hell bent on rolling out these CBDS
• 1:05:40
  specifically that that seems to be the case in Europe.
• 1:05:43
  So I think the the Nigeria examples is, is a fascinating
• 1:05:47
  case study. Now also what I'll say as well
• 1:05:50
  is like it's never been as important as it is today to
• 1:05:56
  learn how to take self custody of your Bitcoin.
• 1:05:59
  Because again, even if your country, the place where you're
• 1:06:02
  from or where you live goes down that kind of totalitarian route,
• 1:06:07
  Bitcoin gives you the power to vote with your feet.
• 1:06:10
  But of course, only if you have that Bitcoin in self custody,
• 1:06:12
  right? So it's never been as important
• 1:06:15
  as it is today to really take the time to learn how to do
• 1:06:19
  that. Anyways, guys, we're going to
• 1:06:21
  move on to the next segment. We're going to hit the culture.
• 1:06:24
  We're going to talk thing, we're going to talk all things bit
• 1:06:26
  block boom. It's coming up this Saturday.
• 1:06:29
  Hope to see you guys there. The entire simply Bitcoin crew
• 1:06:32
  is going to be there. Nico Opti, Dante Rustin, Jacobs,
• 1:06:36
  going to be a great time. We have Simply Bitcoin merch
• 1:06:39
  with us as well. We're going to be running the
• 1:06:41
  news desk. We're going to be doing the live
• 1:06:42
  stream. It's going to be a great time.
• 1:06:44
  Hope to see you guys there. We're going to be right back.
• 1:06:48
  I want to give a shout out to our partner Hive Digital
• 1:06:51
  Technologies. As the first ever public miner,
• 1:06:55
  Hive's position to quadruple their global footprint in 2025
• 1:07:00
  and as the first with an AI strategy, Hive continues to make
• 1:07:05
  moves in sustainable high performance computing.
• 1:07:09
  They consistently topped the industry in Bitcoin mine per EXA
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  hash and now they're headquartered in the USA.
• 1:07:17
  They're leaning me, they're green and clean, and they're
• 1:07:20
  changing the game. You can catch the latest buzz by
• 1:07:23
  following them at Hive Digital Tech or check out their website
• 1:07:27
  at hivedigitaltech.com. I want to give a shout out to
• 1:07:42
  our partner coin kite. If you take your Bitcoin
• 1:07:45
  security seriously, you'll need the best Bitcoin hardware wallet
• 1:07:49
  on the market to take self custody.
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  That's where cold card comes in The cold card Q is the most
• 1:07:55
  advanced Bitcoin signing device ever made.
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  It's got a full keyboard, larger screen and NFC support, making
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  air gap signing easier than ever.
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  It's built for power users who want the ultimate security
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  without sacrificing usability. And if you're looking for a
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  battle tested on compromising cold storage, the Cold Card MK4
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  is your go to. With PSBT signing an industrial
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  grade secure element and USBC, it's the perfect blend of
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  security and convenience. Both devices are of course, 100%
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  Bitcoin only open source and built by Bitcoiners for
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  way with the Cold Card queue and the MK4.
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  Head over to coldcard.com today and use promo code simply to get
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  5% off anything on the store. All right, everybody here is
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  OPTI and if you use promo code Simply, you won't get 5% off
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  Opti, but you will get 5% off the cold card queue.
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  It is the best it is the best Opti's not for sale.
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  It is the best Bitcoin hardware wallet on the market right now.
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  Completely open source. It's has a transparent
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  background so you can see if anyone's like kind of messing
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  with your hardware wallet. It's it's my daily driver.
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  We use it here at Simply Bitcoin to secure our bitcoins.
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  Check out the MK4 or the Cold card queue.
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  They're absolutely awesome. Highly recommend.
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  Scan the QR code on your screen right now.
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  Get 5% off anything on the cold card store Yeah, get yourself a
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  take it seriously. Don't leave your Bitcoin on the
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  exchanges. That's not your Bitcoin anyways.
• 1:09:40
  I'm going to open up the conversation.
• 1:09:41
  I'm going to pull this up, give a shout out to bit Block Boom
• 1:09:46
  Opti and I will be there. It's coming up, ladies, ladies
• 1:09:50
  and gentlemen, and it's going to be April 3rd, April 4th, April
• 1:09:56
  5th, and April 6th. The events start tomorrow.
• 1:09:59
  The conference is on Saturday, so I believe that's April 5th.
• 1:10:02
  You definitely don't want to miss it.
• 1:10:04
  If you use promo code BBB 21, you can still get your tickets
• 1:10:08
  and you will get a discount. So I'm going to go kind of, kind
• 1:10:11
  of go down the agenda of the things that are happening.
• 1:10:15
  So the first day there's a bunch of satellite events, there's the
• 1:10:18
  Bitcoin Mom, there's the Frisco Bitcoin BBQ lunch, and this is
• 1:10:24
  the first event, It's going to be at the truck yard in the
• 1:10:27
  Colony. It's going to be starting at
• 1:10:29
  6:30 to 10:30. It's the official welcome to Bit
• 1:10:34
  Block Boom Thursday dinner party.
• 1:10:36
  Again, if you're trying to get a job in the industry, this is one
• 1:10:40
  of the best events to go to, ladies and gentlemen.
• 1:10:42
  In fact, Bit Block Boom was the first event where me and Opti
• 1:10:46
  actually met each other in person for the first time.
• 1:10:50
  You can make an argument that if it wasn't for Bit Block Boom,
• 1:10:53
  simply Bitcoin would not exist today.
• 1:10:56
  Anyways, so let's move on to Friday.
• 1:10:59
  This is happening April 4th here in Dallas, TX.
• 1:11:02
  Of course, again, promo code BBB 21 to get $100 off your tickets.
• 1:11:08
  There's a satellite event called the Bitcoin Editors Writers
• 1:11:11
  Breakfast. There's the Bitcoin Art auctions
• 1:11:14
  and then the Bit Block Boom workshops.
• 1:11:18
  And the workshops are going to be at the Hilton Granite Park,
• 1:11:21
  Dallas Plano. The first one is going to be
• 1:11:25
  Lightning. The second one is Bitcoin for
• 1:11:27
  beginners and there's a mining 1.
• 1:11:29
  There's a lightning one. There's a Bitcoin for beginners.
• 1:11:31
  There's mining. The Mining 1 is going to be
• 1:11:34
  hosted by Pierre Richard. That one starts at 11:00 AM.
• 1:11:38
  Then there's Lightning. There's Bitcoin for Beginners by
• 1:11:40
  our boy Sean Harris. There's Mining by Hoddle,
• 1:11:44
  Tarantula mining by Bitcoin mechanic from Ocean.
• 1:11:49
  You know, there's Kaz. There's, of course, Matt Hill.
• 1:11:52
  Matt Hill is the CEO and founder of Start 9.
• 1:11:54
  Absolutely love those nodes. You have Rockstar, who's making
• 1:11:58
  a presentation on Lightning. You have Katie the Russian.
• 1:12:02
  Katie the Russian is the founder of a Plan B passport, so she's
• 1:12:07
  going to be holding a presentation from 4:00 to 5:00.
• 1:12:09
  Then you have Mining by Kent that's going to be happening
• 1:12:13
  from 4:00 to 5:00 PM. So guys, you definitely don't
• 1:12:15
  want to miss this. And then there is the bit block
• 1:12:19
  shoot, which starts between 12:00 PM and 4:00 PM.
• 1:12:24
  So tomorrow is going to be some great events or Friday, Better
• 1:12:27
  Said happening. And of course on Saturday is
• 1:12:30
  conference day. Me and Opti are going to be
• 1:12:33
  holding down the news desks are going to be streaming it all day
• 1:12:36
  for you guys on YouTube, on the Simply Bitcoin channel.
• 1:12:40
  Of course, we're going to be hosting interviews in between
• 1:12:43
  panels. It's going to be a great time.
• 1:12:46
  Registration starts at 8:00 AM and the conference starts at
• 1:12:50
  9:00 AM central time. The first panel is going to be
• 1:12:55
  hosted by Dante and the name of the of the of the keynote is how
• 1:13:01
  to Orange Bill Anyone? Then we have Dom Bay.
• 1:13:04
  We have Luke Broyles. Then Mike Hobart, Parker Lewis,
• 1:13:08
  Dennis Porter, James Lavish, Colin Crossman, Stefan Lavera,
• 1:13:13
  Larry Leopard, Bitstein. I'm looking forward to that one.
• 1:13:17
  We got Lynn Bairstow, We got Mel.
• 1:13:20
  We got Bob Burnett. We got Rustin.
• 1:13:22
  We got Guy Swan. We got Lee Bratcher.
• 1:13:26
  We got Buck Curly. Oh, I'm on there, Nico, Marty
• 1:13:31
  Bent and of course the closing remarks by Gary Leland's and
• 1:13:36
  there's Bit block chess, there's the woman of bit block boom
• 1:13:40
  happy hour, there's the famous casino night, and there's going
• 1:13:43
  to be, you know, dinners that are happening throughout this
• 1:13:47
  whole event. It's going to be a great time,
• 1:13:49
  guys. This is one of my favorite
• 1:13:50
  Bitcoin conferences of the year. It might not be the biggest one,
• 1:13:54
  but I like it because you're able to approach some of your
• 1:13:57
  favorite Bitcoiners and they don't feel like, you know, so so
• 1:14:00
  like reserved and like defensive because they get swarmed at
• 1:14:05
  these massive Bitcoin conferences.
• 1:14:06
  You know, bit block Boom is like just the right size so you can
• 1:14:09
  approach your favorite Bitcoiners and you just spark up
• 1:14:12
  a conversation with them. There is no backstage at bit
• 1:14:15
  block boom. So as soon as the speakers
• 1:14:18
  finishes, they just go to the front, right?
• 1:14:22
  So you're, you can just spark up a conversation with them.
• 1:14:25
  What's really normal too is a lot of these bitcoiners, they
• 1:14:27
  just sit in the crowd like they just, they just sit on one of
• 1:14:30
  the desks and they just watch the presentation.
• 1:14:32
  So it's really, really awesome guys.
• 1:14:34
  One of my favorite Bitcoin conferences of the year.
• 1:14:36
  Hope to see you guys there. BBB 21 Opti's going to be there,
• 1:14:41
  I'm going to be there, Russ is going to be there, Dante's going
• 1:14:43
  to be there. Hope to see you guys there again
• 1:14:46
  starts on Saturday. The events start tomorrow.
• 1:14:49
  Opti and I are going to be doing shows tomorrow and Friday as
• 1:14:51
  well. So you guys aren't going to miss
• 1:14:53
  a Simply Bitcoin live episode. But until then, love you guys
• 1:14:56
  all. If you guys enjoyed today's show
• 1:14:58
  smash that like button, consider subscribing to simply Bitcoin.
• 1:15:03
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• 1:15:07
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• 1:15:15
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• 1:15:22
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• 1:15:46
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• 1:15:51
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