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Music.

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Welcome in to This Week in Bitcoin, episode 44. My name is Chris,

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chrislas.com, jupiterbroadcasting.com.

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We're going to start today off with some macro, then we'll get into why the

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Bitcoin community took a sharp turn into attack mode.

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After a couple of weeks of great news, it's attack mode. We'll talk about why.

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Plus, my thoughts on an economic blunder that the Trump administration seems

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to be just happily walking into, and much more. But we start with this vibe

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shift that came from the Bank of Canada this morning, as I record.

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Their central bank lowered their benchmark interest rate overnight to 3%,

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which is a 25 basis point cut.

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The sixth in a row, so it was widely anticipated.

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And the central bank said in their statement, quote, We also announced our plan

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to complete the normalization of our balance sheet, ending quantitative tightening.

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The bank will restart assets purchases in early March, beginning gradually so

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that its balance sheet stabilizes this year and then begins to grow modestly

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in line with economic growth.

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So they're lowering interest rates and they're suspending quantitative tightening.

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And in March, they're going to begin quantitative easing.

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So that seems to really have set the tone for the day. And later in the day, U.S.

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Federal Reserve Chair Jerome Powell came out, and we weren't really quite sure what to expect.

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The market kind of thought it was going to be kind of standard affair, but you never know.

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It's possible he's been getting pressure from President Trump.

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The Bank of Canada just lowered rates, said that they're going to begin quantitative

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easing in March. So everybody tuned in to the Fed press conference with at least

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a little bit of anticipation and then was greatly disappointed.

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That was Chair Powell following the very first Fed meeting of 2025,

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one in which there was no change in interest rates as expected.

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But there was plenty said in the news conference we just watched.

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Chair Powell saying, among other things, inflation remains, quote,

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somewhat elevated relative to the Fed's 2 percent target.

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He said conditions in the labor market are solid. The economy is strong overall.

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He did point to resilient consumer spending.

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Still considering additional adjustments, he said, quote, we do not need to be in a hurry.

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No, all the good stuff, though, that really comes in the QA.

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So like in his official statement, you know, unchanged, it was a 12 to 0 unanimous vote.

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They are not changing the rate. Inflation remains, quote, somewhat elevated, J-Pow says.

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And unemployment has, quote, stabilized at a low level, meaning it's a little

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soft, but not too soft for us to worry. And they also took out their statement

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on progress towards 2% inflation in their official remarks.

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They seem to kind of be admitting that we have had some stalled progress on inflation.

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And we'll get into that in the Q&A because that's where the good stuff is.

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But I want to start with the big question in the room.

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And that was, what is Jay Powell going to do about the fact that now on three

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occasions, President Trump has said that he wants the Federal Reserve to lower

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rates? So he was asked about that.

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Another point the president made is on interest rates. The president was in

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Davos speaking to an audience in Davos earlier today, said that he's going to

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demand that interest rates come down.

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In this outing with the press this afternoon, the president said that he feels

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he knows interest rates better than the folks at the Fed.

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And he does expect the Fed to respond to what he says in terms of demanding lower interest rates.

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OK, so what do you think Jay Powell said to that? What do you think?

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Do you think, oh, yeah, I'm definitely going to lower interest rates based on

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political demand from the president?

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No, of course he didn't say that. Chairman, Steve Leesman from CNBC.

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Mr. Chairman, at an event in Davos, from two Davos anyway, the president said

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he'll demand that interest rates drop immediately.

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So I guess I have a three-part question. Has the president done this to you? Has he made that demand?

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Secondly, what is your response to that? And third, what effect,

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if any, does a president making these kind of remarks have on policy? Thank you.

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Three questions. I'm seeing seeing it really as one question, though.

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So I'm not going to have I'm not going to have any any response or comment whatsoever

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on what the president said. It's not appropriate for me to do so.

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The public should be confident that we will continue to do our work as we always

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have, focusing on using our tools to achieve our goals and really keeping our

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heads down and doing our work. And that's how we best serve the public.

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Can you just comment on whether he's physically communicating this demand to

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you? I've had no contact.

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Thanks. Yeah, OK, not a big surprise there. But what does, I don't know,

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for some reason continue to surprise me is that Bitcoin and crypto get brought

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up in every context, including the Q&A with the federal chair.

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And Jay Powell was asked about the risks of crypto for banks and households.

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Hello, Chairman Powell, Mark Hamrick with Bankrate. As you know,

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in the annual report from the Financial Stability Oversight Council,

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among the risks outlined is cryptocurrency.

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Could you talk about those risks now? And regarding individuals and households

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perhaps distinct from the concern about the financial system,

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do you worry that speculation in this unregulated asset class could hurt their financial well-being?

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Do you worry that they're too dumb to take care of themselves and that you need

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to give them rules they can follow so that way they don't end up hurting themselves?

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In this unregulated asset class could hurt their financial well-being,

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or do you think it has a place in a household's portfolio?

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So at what point does something get considered regulated?

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So it's not when it's taxed with clear tax rules.

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It's not when the Commodities Exchange Commission has said that they're an oversight

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body for the commodity, clearly, because according to this guy, it's unregulated.

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It's not that all the exchanges closely follow regulations and that my Bitcoin,

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if I buy it from them, is KYC'd to hell because apparently that doesn't qualify it as regulated.

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It's not even clear to me how gold is somehow more regulated than Bitcoin,

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but yet Bitcoin is a dangerous, unregulated currency.

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Even though, unless I'm wrong, as far as I can tell, it's just as regulated as silver or gold.

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Maybe there's something more

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I don't know. If traders in silver or gold no more, please do boost in.

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But I find this type of question so obnoxious because it's the equivalent to the, Mr.

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Chairman, what about the volatility?

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Volatility is really scary and bad, right? Don't you think so, Mr. Chairman?

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That's the kind of question this is. Great. That speculation in this unregulated

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asset class could hurt their financial well-being, or do you think it has a

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place in a household's portfolio?

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You know, so our role with Bitcoin really is to look at, with crypto,

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really is to look at the banks.

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And, you know, we think it's, you know, banks are perfectly able to serve crypto

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customers as long as they... Wait, what? What?

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Well, that's a bit of a tone shift. That's a bit of a tone shift from Operation

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Chokepoint 2.0, where the Fed was working hand in glove with Liz Warren and

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others, to go after banks that engaged in crypto services.

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I mean, let's rewind this for a second.

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Before, like, I don't know, last year? I mean, 60 seconds ago?

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10 minutes ago? Before then, J-Pow did not have this tone.

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And he talked, I've always felt this way. But I've always thought this.

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You know how I've always felt about Bitcoin.

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Look at the banks and we think banks are perfectly able to serve crypto customers

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as long as they understand and can manage the risks.

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And it's safe and sound as many of our – a good number of our banks that we

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regulate and supervise do that.

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The threshold has been a little higher for banks engaging in crypto activities.

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And that's because they're so new.

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And, you know, we don't want to make the mistake. If you're making a choice

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to conduct that activity inside a bank, which is inside the federal safety net

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with deposit insurance, then you want to be pretty sure that that is safe and sound activity.

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So, you know, we're not against innovation, and we certainly don't want to take

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actions that would cause banks to, you know,

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to terminate customers who are perfectly legal just because of excess risk aversion

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may be related to regulation and supervision. Certainly not.

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Never, ever would take any actions like that. Then he was asked to follow,

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well, what about households?

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What about households holding crypto? That's scary and dangerous, right?

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You know, that's kind of a, it's not really our bailiwick.

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You want people to be knowledgeable about the financial engagements that they have.

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And that's why we have, you know, the securities law, the laws that we have.

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It's why, you know, if you read a mutual fund prospectus or individual stock

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prospectus, you want households to have the chance to understand the risk that they're taking.

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And, you know, I do think it would be helpful if there were a greater regulatory

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apparatus around crypto.

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And I think that's that's something Congress was working on quite a lot.

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We've actually spent a lot of time, you know, with members of Congress working

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together with them on on various things.

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And I think that would be a very constructive thing for for Congress to do.

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Yeah, you know, if consumers just had a prospectus sheet on Trump coin,

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then they could be making an educated guess on the shit coin that they're buying.

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That would make all the difference for sure. So here we go. Interest rate futures

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right now, they show probably a base cut in June.

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That's probably we're going to get our first cut, but we'll see.

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We'll see. I don't know. I'm a little more optimistic in that regard.

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The next scheduled FOMC meeting is March 18th and the 19th. I wouldn't be surprised

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if we saw some sort of policy change.

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Maybe they stopped quantitative tightening, maybe nothing, or maybe a 25 basis point rate cut.

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J-Pow did say today that we don't necessarily need to wait for a 2% inflation

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before we start cutting rates. So there you go, right?

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So that's been a kind of non-news story, I think, as the market internalizes

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what's happening here for rates in the states.

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But what was big news is just as the show wrapped up last week,

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we got official executive order actions.

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And I think there's some good stuff in here for Bitcoiners.

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Morgan, that's right. The president signed five executive orders here at the

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White House just a few moments ago.

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We're getting the details now on this cryptocurrency related executive order

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that he signed, which establishes a working group at the White House led by

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David Sachs to look at cryptocurrency policy to stop what they call regulatory

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overreach on cryptocurrency.

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One important point here, because there's some question about whether the president

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would go ahead and establish some kind of strategic reserve fund of cryptocurrency.

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This executive order does not do that.

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What they say specifically here is that the working group will be tasked with

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developing a federal regulatory framework governing digital assets,

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including stable coins, and evaluating the creation of a strategic national

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digital assets stockpile.

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So the word evaluating there is doing a lot of work.

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Basically, that means this working group is going to take a look at it and maybe

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make some recommendations down the line.

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So, you know, no concrete movement in that direction.

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You might get a sense that this kind of opens the door a little bit from this

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White House to take a stronger look at that than certainly the previous White

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House would have done last week.

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But there you go on cryptocurrency also. Okay, now be honest.

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Were you hoping with the swipe of a Sharpie that Trump was going to create a

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strategic Bitcoin stash?

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And were you disappointed when instead what you got was a working group that's

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going to study the issue?

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I don't think you should be. I don't think you should be upset about this.

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I've always been concerned that Trump was going to try to do this by executive action.

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And if he creates a Bitcoin reserve or a stockpile, as he puts it,

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with a executive order, very simply could be undone by the next guy or the guy or gal after him.

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Absolutely possible. It's a total threat. And it would be a temporary pump.

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And then, you know, could you imagine the crash when the next POTUS comes in

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and decides to remove Bitcoin and the strategic stash? That'd be horrendous.

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This working group, when he talked about this during the campaign,

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this working group will ideally interface with Senator Lummis and others that

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are trying to create this at the bill level,

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at the law level, and hopefully work with them hand in hand to create something sustainable.

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The problem is, it appears this process is being perverted by shit coins.

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We'll see you next week.

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Music.

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Okay emergency press conference this

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is jack mallers ceo of strike and he and many others have been putting the word

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out about bad actors in the crypto space that are attempting to influence the

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white house process and the trump family specifically eric trump and others with money bribes,

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FUD, and propaganda to make the Bitcoin Reserve a digital assets reserve that

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features Made in America XRP.

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Ripple is undermining American prosperity and freedom.

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I can confirm Ripple is actively spending millions of dollars trying to undermine

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a strategic Bitcoin Reserve in the United States of America.

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This is not just an attack on Bitcoin, but on principles of transparency,

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on fairness, and on our national security.

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Bitcoin strategic reserve would

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be one of the most important economic announcements in American history.

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I personally would put it on par with Nixon in 1971.

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However, it would be the first positive economic announcement that comes from

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the United States in the last hundred years.

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In 1933, the U.S. made an economic announcement. What was it?

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We're confiscating your gold.

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In 1971, the U.S. made an economic announcement. What was it?

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We're divorcing ourselves from the gold standard. We're divorcing ourselves

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from being governed by the immutable laws of Mother Nature so that we can debase

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your money and inflate your life.

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In 2008, the U.S. made an economic announcement. What was it?

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It was, we are bailing out and protecting private corporations,

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banks, and Wall Street at the expense of you, the public.

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If the U.S. goes on to make an economic announcement that is the support of

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a Bitcoin strategic reserve.

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It will not act against its people in the best interest of the public.

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It will do the opposite.

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This is a money that is owned, operated, and governed by the people.

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Governments and corporations own a

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fraction of this network who owns it

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who had first access the people the

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public this is about being pro-industry pro-jobs pro-energy pro-growth pro-technology

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this is about solving our deficits this is about leaning into the future in

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investing in prosperity for generations to come.

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And the reason I think why Jack and Bitcoiners get so fired up is XRP,

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Ripple, in particular, has been attacking this process.

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And it is the shitcoin of major shitcoins out there. If you have any insight

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why the normies love XRP, please tell me.

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Anytime I've ever went to a normie accountant and asked them if they do crypto

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taxes and Bitcoin, they start talking to me about XRP. I'm not kidding you.

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It's happened more than once.

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XRP has attacked Bitcoin the most voraciously. Voraciously?

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You know, they specifically funded Greenpeace to demonize Bitcoin's environmental impact.

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They have funded anti-Bitcoin lobbyists. They funded Kamala's campaign,

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specifically because they're pro-CBDC.

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They've been sued by the SEC for being a security, and then instead of taking

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responsibility for that.

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They gaslit XRP bag holders. They've pre-mined every coin that's ever going

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to be in existence all at once. And then they hand it out like the rich.

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And then embarrassingly, XRP's ledger history is even a total shit show.

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Their first block, or ledger as they put it, is ledger 32569.

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Because everything before ledger 32569 was lost.

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So they just lost all those transactions going back to the number one ledger.

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35,000 just gone. All the coins created too in those first blocks,

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no doubt. Such a shame that those early blocks are gone.

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So it's clearly a security. It's the pinnacle of crypto fiat,

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all created at once, no proof of work required.

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And it particularly benefits one company and one founder. That should not be

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in the strategic reserve.

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It's not like gold or silver or even cheese. Bitcoin is.

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Ripple XRP is not. So this is why the Bitcoiners and then because they're actively

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spending money and time trying to confuse the White House and the senators involved.

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It has folks like Jack and myself a little bit worked up.

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Equality, inclusion, the leader of the free world, adopting technology that

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promotes American ideals, a money that we don't control.

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But that we support, that both aids to solve our country's biggest problems

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and promotes the world we want to see as Americans and its people.

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Now, Ripple. Ripple is a for-profit company.

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It prints its own token in XRP.

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And it is asking the U.S. government to support its monopoly.

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I ask you this. Why should the U.S. government back a privately owned currency?

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This is corporate lobbying disguised as innovation.

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This is corporate lobbying disguised as

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tech growth jobs industry

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ripple created all of its currency issued it to themselves and relies on the

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public to buy it this is not the money for the people this is not in the best

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00:19:51,942 --> 00:19:56,062
interest of the public this is in the best interest of a private corporation.

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This is an economic announcement that would be like 2008, that would be like

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1971, that would be like 1933. This is against what this new administration

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and President Trump stands for.

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This is against the best interest of the United States of America.

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It is absurd and ridiculous and Ripple needs to stand down immediately.

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Not only are they undermining future prosperity in the United States,

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benefiting from the technological innovation that is Bitcoin,

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but they are also trying to take advantage of the situation and benefit themselves.

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Call your representatives and demand an investigation into Ripple's lobbying efforts.

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Tweet publicly. Post your comments publicly.

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I've begun fighting back. I will not stand for this. I am an American.

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I plan to have children and raise them in America.

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I will not let Ripple undermine our prosperity,

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freedom, and benefiting from Bitcoin, a neutral, fair money for the people, for the public.

288
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Because this isn't just about Bitcoin versus Ripple.

289
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It's about whether the future of money belongs to the people or to private corporations.

290
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And it is up to us to decide.

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Now, part of this service of this show is I like to try to arm you with information

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so you can plan and hedge appropriately for yourself, for your friends,

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for your family, for your workplace.

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And one of the things that I think we should talk about, because it is going

295
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to impact Bitcoiners, is this concept and expectation that seems to be out there

296
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and encouraged by the current administration that prices are going to come back down.

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The Trump administration campaigned on bringing prices down.

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You know, eggs have been specifically mentioned in here. And I thought maybe

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after the election, they'd shut up about bringing prices down and just focus

300
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on wage increases and stabilizing prices.

301
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But that is definitely not what they're doing. Here is Vice President J.D.

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00:22:16,746 --> 00:22:19,646
Vance in a recent interview that's been going around the Internet.

303
00:22:19,826 --> 00:22:21,886
But I have a different take than most people.

304
00:22:22,709 --> 00:22:27,589
You campaigned on lowering prices for consumers. We've seen all of these executive

305
00:22:27,589 --> 00:22:29,689
orders. Which one lowers prices?

306
00:22:29,929 --> 00:22:34,069
We have done a lot. And there have been a number of executive orders that have

307
00:22:34,069 --> 00:22:39,809
caused already jobs to start coming back into our country, which is a core part of lowering prices.

308
00:22:40,069 --> 00:22:44,409
Now, I'm going to say there, first of all, the first question is lousy.

309
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She knows, and if she doesn't know, she should be fired, that there's not an

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executive order that comes out that says, Safeway, you need to lower your prices.

311
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That's not how this works, right?

312
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The executive office can take actions that will encourage the support of the market.

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They can't directly tell any, well, maybe like in certain circumstances under

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00:23:03,949 --> 00:23:05,849
the Defense of Production Act or things like that.

315
00:23:06,129 --> 00:23:10,549
So it's just a stupid bad question, like really a stinker if you think about it.

316
00:23:11,029 --> 00:23:16,249
Totally ignorant. But as we continue, I think it reveals a bad strategy by Vance and Trump.

317
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More capital investment, more job creation in our economy is one of the things

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that's going to drive down prices for all consumers, but also raise wages so

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that people can afford to buy the things that they need.

320
00:23:27,389 --> 00:23:31,569
Now that right there, that's the best possible answer to what was a very bad question.

321
00:23:31,769 --> 00:23:34,409
If you look at our slate of executive orders.

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I like that she chuckles in there. So grocery prices aren't going to come down

323
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because that's hilarious.

324
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But also raise wages so that people can afford to buy the things that they need.

325
00:23:45,769 --> 00:23:49,889
If you look at our slate of executive orders, no, no, Margaret,

326
00:23:50,089 --> 00:23:53,129
prices are going to come down, but it's going to take a little bit of time.

327
00:23:53,329 --> 00:23:56,869
No, no, J.D., they're not going to come down.

328
00:23:57,289 --> 00:24:00,309
Prices are not going to come down of executive orders.

329
00:24:00,889 --> 00:24:02,449
No, no, Margaret, prices are

330
00:24:02,449 --> 00:24:05,269
going to come down, but it's going to take a little bit of time. Right.

331
00:24:05,569 --> 00:24:09,549
The president has been president for all of five days. I think that in those

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five days, he's accomplished more than Joe Biden did in four years.

333
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It's been an incredible breakneck pace of activity.

334
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We're going to work with Congress. We're, of course, going to have more executive orders.

335
00:24:20,189 --> 00:24:25,249
And we're going to try the way that you lower prices is that you encourage more

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capital investment into our country.

337
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And yes, you're not going to lower prices.

338
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I mean, they really should stop saying this.

339
00:24:32,809 --> 00:24:35,869
And you should not plan or expect on this.

340
00:24:36,269 --> 00:24:39,569
At best, you know, they could stabilize prices broadly.

341
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They could make policies that incentivize increasing

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of wages so that wages go

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up faster than the cost of goods so it feels like

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relatively things have gotten cheaper they can do that to limited

345
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degree but other than a few things prices are not coming down maybe on a couple

346
00:24:57,449 --> 00:25:01,829
of things right there's a few things you can increase the you know the amount

347
00:25:01,829 --> 00:25:06,449
of like oil or the amount of people working on something and you'll get more

348
00:25:06,449 --> 00:25:09,849
of that resource and so you can bring down the cost for a bit.

349
00:25:10,049 --> 00:25:14,189
But generally, once you bring down the cost of a commodity, you increase demand overall.

350
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And so then demand actually accelerates.

351
00:25:16,769 --> 00:25:18,449
So even then it's kind of temporary.

352
00:25:19,405 --> 00:25:22,825
They really just, you know, just think about this. Think about a stake.

353
00:25:23,045 --> 00:25:24,225
Let's just make this really simple.

354
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Think about a stake and everything involved that sets the price on that stake.

355
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From somebody raising a cow and paying for the feed to transport it and the

356
00:25:35,565 --> 00:25:37,985
butcher and the fuel involved, of course.

357
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To wrapping it up in that styrofoam and that plastic and putting it out on the shelf.

358
00:25:42,945 --> 00:25:48,365
All of the different costs that are in that pipeline from the birth of the cow

359
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to the piece of meat going on the cellophane in the store.

360
00:25:51,965 --> 00:25:58,125
You would have to lower the cost at every one of those individual steps that

361
00:25:58,125 --> 00:25:59,045
touch that piece of meat.

362
00:25:59,825 --> 00:26:03,585
Across the board, all of those, the butcher, the transportation,

363
00:26:03,985 --> 00:26:09,425
the cow, the feed, the person that sells the livestock, the cut that the grocery

364
00:26:09,425 --> 00:26:13,565
store takes, the pay for the people that wrap it and put it out on the shelves,

365
00:26:14,245 --> 00:26:18,745
all of those costs collectively would have to come down to make that stake cheaper.

366
00:26:19,225 --> 00:26:24,225
And that is true for every item in that grocery store with every single item

367
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having its own unique supply chain dynamics.

368
00:26:27,705 --> 00:26:31,865
It's possible. You generally don't see that happen unless there's a pretty bad recession though.

369
00:26:32,565 --> 00:26:36,045
So you just should stop saying this. And as Bitcoiners, we should stop,

370
00:26:36,045 --> 00:26:39,005
if you have been thinking that this is going to happen.

371
00:26:39,405 --> 00:26:43,245
Things are not going to get cheaper. It does not matter who is in the White House.

372
00:26:43,685 --> 00:26:47,485
Things are not going to get cheaper. The rate of their cost can slow.

373
00:26:47,965 --> 00:26:52,385
So the price feels like it's stable. But even at a 2% inflation rate,

374
00:26:52,665 --> 00:26:54,805
things do not stay the same price.

375
00:26:54,965 --> 00:26:58,365
It is built into the system.

376
00:26:59,105 --> 00:27:04,465
And I don't know why they're saying this because it's so easy to measure.

377
00:27:05,105 --> 00:27:09,425
I can look at the price of eggs today, and I can look at the price of eggs in six months.

378
00:27:09,785 --> 00:27:13,505
Now, eggs might actually come down because of bird flu, but you get the general point.

379
00:27:13,685 --> 00:27:17,025
You can look at the price of milk or cheese or cereal or whatever it is.

380
00:27:17,145 --> 00:27:18,945
You're, you know, I don't care, top ramen.

381
00:27:19,485 --> 00:27:23,005
You can look at the price today, and you can look at the price in six months,

382
00:27:23,005 --> 00:27:24,745
and you can see that the price didn't go down.

383
00:27:24,805 --> 00:27:29,145
So I don't know why they would be claiming this, but do not plan on this as

384
00:27:29,145 --> 00:27:30,885
Bitcoiners do not plan on this.

385
00:27:31,445 --> 00:27:33,185
And if I'm wrong, you know what? So what?

386
00:27:33,785 --> 00:27:36,565
You got some extra purchasing power, so it's not so bad, right?

387
00:27:37,365 --> 00:27:42,245
I just don't know why they insist on saying this. If you think prices are going

388
00:27:42,245 --> 00:27:44,265
to come down, then you don't know how the economy works.

389
00:27:44,925 --> 00:27:47,125
And if you don't know how the economy works, then you probably shouldn't be

390
00:27:47,125 --> 00:27:48,065
trying to fix the economy.

391
00:27:48,745 --> 00:27:51,245
I don't mean to harp on this, but it matters.

392
00:27:52,896 --> 00:27:55,816
It matters, I think. And, you know, you just kind of look at the situation.

393
00:27:55,976 --> 00:27:56,896
People just want relief.

394
00:27:57,596 --> 00:28:02,576
And I think I believe that they want to deliver it. And I do think that some

395
00:28:02,576 --> 00:28:05,796
of the things they're doing are going to provide more help than the previous administration.

396
00:28:06,556 --> 00:28:11,196
But those things are going to stabilize prices. They're going to slow inflation potentially, maybe.

397
00:28:11,336 --> 00:28:15,176
But then other actions like tariffs and other things are going to be inflationary.

398
00:28:15,836 --> 00:28:20,976
And so I think at least over Q1, for a while, we're going to see a lot of these

399
00:28:20,976 --> 00:28:24,356
things get rolled out as appointees get into their position and start executing

400
00:28:24,356 --> 00:28:28,496
policies, as situations come up and tariffs come up as a response.

401
00:28:29,656 --> 00:28:34,736
Q1, at least, is going to be sorting some of this out and realizing that prices

402
00:28:34,736 --> 00:28:35,876
aren't coming back down.

403
00:28:36,156 --> 00:28:39,656
They're not exploding like they were, but in some areas, they're still a little

404
00:28:39,656 --> 00:28:40,936
hot and they're still rising.

405
00:28:42,036 --> 00:28:46,896
Inflation still is a long-term play here. Even if J-PAL is feeling pretty good. It's not 100% licked.

406
00:28:47,716 --> 00:28:52,036
It's kind of a best case scenario for Bitcoiners. I hate to say this,

407
00:28:52,156 --> 00:28:55,816
but if we just look at this through the lens of Bitcoin, this is good.

408
00:28:56,236 --> 00:28:59,476
You've got an administration that is clearly more crypto friendly.

409
00:29:00,156 --> 00:29:02,636
Does that mean a few shit coins get through the door? Probably.

410
00:29:03,516 --> 00:29:09,056
Why do you care? Why do you care? Just sit back and watch the government get screwed.

411
00:29:09,256 --> 00:29:12,236
It's going to be fun. They're going to get rugged and it's going to be hilarious.

412
00:29:13,016 --> 00:29:16,676
Bitcoin's a superior product. So even if all the shit coins get through the

413
00:29:16,676 --> 00:29:17,796
front door, it doesn't matter.

414
00:29:17,916 --> 00:29:22,396
Bitcoin still wins. It's a better product and it has a better network.

415
00:29:23,156 --> 00:29:27,416
What do we like it? 60 ish percent dominance right now in the crypto market too.

416
00:29:27,996 --> 00:29:32,156
So, I mean, I don't love the idea that a Bitcoin reserve could be a digital asset reserve.

417
00:29:32,596 --> 00:29:35,696
And I love the idea that inflation is running hot and our politicians are telling

418
00:29:35,696 --> 00:29:38,996
us the prices are going to come down, But none of it is extreme.

419
00:29:39,636 --> 00:29:45,736
None of it is beyond manageable. And it means it's bullish for Bitcoin long term.

420
00:29:46,036 --> 00:29:50,276
All of this lines up to be bullish for Bitcoin. A more crypto friendly administrative

421
00:29:50,276 --> 00:29:53,576
state that is temporarily bullish for Bitcoin.

422
00:29:54,416 --> 00:29:57,416
Inflation remaining a little warm, a little hotter than we'd like.

423
00:29:58,016 --> 00:30:02,596
That is bullish long term for Bitcoin, both in adoption and just in a price

424
00:30:02,596 --> 00:30:04,016
asset evaluation. situation.

425
00:30:04,936 --> 00:30:09,096
It all comes together for Bitcoin at the end. I'd love to know your thoughts

426
00:30:09,096 --> 00:30:14,176
on any of this, especially the idea that, you know, the prices are never coming down.

427
00:30:15,756 --> 00:30:21,176
I don't know. What do you think? I also, I have a question that I just been,

428
00:30:21,376 --> 00:30:24,636
it's on the back of my mind, and I want to put it out there to the audience

429
00:30:24,636 --> 00:30:26,976
and just kind of trying to get like, you know, I could do this from time to

430
00:30:26,976 --> 00:30:28,616
time, trying to get a sense of where the people are at.

431
00:30:30,956 --> 00:30:35,536
I would like to know, did you stack sats before you started boosting the shows?

432
00:30:35,976 --> 00:30:40,576
And if you didn't, do you stack sats now? Or have you always stacked sats?

433
00:30:41,276 --> 00:30:45,696
Or maybe, are you only interacting with sats when it comes time to boost?

434
00:30:45,796 --> 00:30:47,356
And otherwise, you don't hold any sats.

435
00:30:48,267 --> 00:30:50,167
So you follow what I'm asking? I'm trying to get a sense of,

436
00:30:50,507 --> 00:30:54,707
did you interact with Bitcoin and hold sats before you boosted?

437
00:30:55,147 --> 00:30:56,567
If you didn't, do you now?

438
00:30:57,167 --> 00:31:00,687
Did you always, and this just became supplementary to your Bitcoin activity,

439
00:31:00,867 --> 00:31:03,907
or is it the only Bitcoin activity you engage in?

440
00:31:04,407 --> 00:31:08,847
Trying to figure that out. This wasn't a banger week for the show in terms of

441
00:31:08,847 --> 00:31:11,447
sat revenue. You know, kind of has been slowing a little bit.

442
00:31:11,787 --> 00:31:15,487
I kind of worry that with the price, the Bitcoin price over $100,000,

443
00:31:15,487 --> 00:31:17,387
we're going to start seeing fewer and fewer boosts.

444
00:31:18,267 --> 00:31:22,147
I hope we can prove that wrong because every boost counts no matter the size.

445
00:31:22,287 --> 00:31:24,107
And I know that's cliche, but it is true.

446
00:31:25,327 --> 00:31:31,847
Because what we're doing is building something long term, something bigger over the years.

447
00:31:32,487 --> 00:31:37,187
I and many other podcasters are creating our own podcaster Bitcoin reserve.

448
00:31:37,587 --> 00:31:42,547
It's a reserve built through the proof of work of creating content week in and week out.

449
00:31:42,547 --> 00:31:48,267
And I suspect that the podcasters, and there's a few thousand of them out there,

450
00:31:48,527 --> 00:31:53,807
who have adopted this Bitcoin standard and value for value, I think they're

451
00:31:53,807 --> 00:31:58,967
going to pave a way for a more honest kind of media in the future, right?

452
00:31:58,967 --> 00:32:04,147
Because they're securing today a roadmap and a runway for tomorrow where they

453
00:32:04,147 --> 00:32:06,847
don't have to have sponsors.

454
00:32:07,327 --> 00:32:12,287
They don't have to even care what people with money say. They can stay independent.

455
00:32:12,987 --> 00:32:16,867
But I think the bigger thing than that even, the thing that would really matter

456
00:32:16,867 --> 00:32:22,067
to me as a listener, because we've all seen our favorite show disappear at some point.

457
00:32:22,727 --> 00:32:27,667
Some like a show or a magazine, some piece of content that couldn't stay alive

458
00:32:27,667 --> 00:32:29,067
because it wasn't sustainable.

459
00:32:30,507 --> 00:32:33,747
And a lot of these live and die on the fiat ad market.

460
00:32:34,467 --> 00:32:39,687
But by these podcasts, building a Bitcoin reserve, they're building something

461
00:32:39,687 --> 00:32:43,447
that can last and last, something that can be sustainable.

462
00:32:43,867 --> 00:32:48,507
And it means your favorite show doesn't disappear because it's been built on

463
00:32:48,507 --> 00:32:50,247
top of a durable Bitcoin standard.

464
00:32:50,667 --> 00:32:55,507
So I hope you will continue to boost even as the price is above $100,000.

465
00:32:55,907 --> 00:32:57,607
Because I think podcasts like

466
00:32:57,607 --> 00:33:00,767
this and others, well, I like to think we're building something special.

467
00:33:01,287 --> 00:33:04,287
And I'd like to think that in a couple of years, it's going to pay off.

468
00:33:04,367 --> 00:33:07,447
In a few years, it's going to pay off for these podcasters who kept their nose

469
00:33:07,447 --> 00:33:11,267
down, didn't say yes to a bunch of sponsor money, instead went directly to the

470
00:33:11,267 --> 00:33:16,387
audience and built themselves a runway so they have a sustainable media business years down the road,

471
00:33:17,007 --> 00:33:19,667
that doesn't require kowtowing to big advertisers.

472
00:33:19,867 --> 00:33:24,447
I hope, and I hope you will support the show with a boost. So please do boost in.

473
00:33:26,480 --> 00:33:45,680
Music.

474
00:33:45,522 --> 00:33:50,262
Massive bank wants to stack billions of Bitcoin. A couple of states are on the

475
00:33:50,262 --> 00:33:52,102
verge of launching a Bitcoin reserve.

476
00:33:52,542 --> 00:33:54,502
A city just went Bitcoin friendly.

477
00:33:55,382 --> 00:33:58,362
Final clip of the week. Our last track.

478
00:33:58,862 --> 00:34:02,842
State of the network and more. So before we go on, I want to tell you how you

479
00:34:02,842 --> 00:34:04,822
can support the show by doing what you do.

480
00:34:05,122 --> 00:34:08,982
If you want to stack sats and DCA here in the States, buy sats on River.

481
00:34:09,462 --> 00:34:13,282
I think it's one of the best way to DCA into Bitcoin in the United States.

482
00:34:13,522 --> 00:34:15,842
They support the Lightning Network. They have proof of reserves,

483
00:34:16,042 --> 00:34:20,122
a beautiful UI, lots of options, including a nice savings account so you can

484
00:34:20,122 --> 00:34:21,862
hold cash so you're ready to smash buy.

485
00:34:22,582 --> 00:34:26,342
Now, if you're all about self-custody, nobody does it like the Bitcoin well.

486
00:34:27,202 --> 00:34:32,982
Amazing self-custody platform. They don't hold your sats. You buy and sell directly from your own wallet.

487
00:34:33,802 --> 00:34:37,802
Speaking of selling, if you're ready to spend some Bitcoin and you got it on

488
00:34:37,802 --> 00:34:42,102
the Lightning Network, no faster or simpler way than thebitcoincompany.com.

489
00:34:42,102 --> 00:34:45,702
Bitcoin-only gift cards instantly bought via Lightning.

490
00:34:46,002 --> 00:34:48,402
No login required. You can use your Lightning credentials.

491
00:34:48,882 --> 00:34:52,142
If you want to stack sats by paying bills, that's the fold card.

492
00:34:52,382 --> 00:34:56,542
That's how I stack sats, by paying my everyday bills. And then I get access.

493
00:34:56,542 --> 00:34:59,722
To my Bitcoin value without selling it by using salt lending.

494
00:35:00,322 --> 00:35:04,342
I have links to all of those in the show notes. Yes, you can support the show

495
00:35:04,342 --> 00:35:07,882
just by doing what you do. Thank you, everybody who does.

496
00:35:10,640 --> 00:35:25,680
Music.

497
00:35:24,482 --> 00:35:27,102
Oh, there it is. I was like, geez, is it ever going to fire?

498
00:35:27,342 --> 00:35:35,042
All right, we have some boosts to get into, and our first boost is also our baller boost, as we do.

499
00:35:35,162 --> 00:35:42,182
And it's from SatSquanch, and he's coming in with 66,667 sets. Hey, rich lobster!

500
00:35:44,162 --> 00:35:48,502
Hey, Sandsquatch. And he writes, Thanks for reminding us that Bitcoin is hope

501
00:35:48,502 --> 00:35:51,062
for all of us. And thank God for Ross's release.

502
00:35:51,462 --> 00:35:55,902
This is the best yet to come. Ross's story epitomizes me that with Bitcoin,

503
00:35:56,182 --> 00:36:00,062
even bad things can be turned for good, and good things can't be confiscated.

504
00:36:00,482 --> 00:36:04,422
Oh, well said. Yeah, it really, just something about seeing Ross Freed really

505
00:36:04,422 --> 00:36:08,562
felt like, okay, this is good. This is, you know, nature is healing.

506
00:36:10,162 --> 00:36:12,022
Thank you SatSquatch it's good

507
00:36:12,022 --> 00:36:16,682
to hear from you our next boost comes from Block7 he's got 20,000 sats,

508
00:36:17,382 --> 00:36:21,682
alright your time and input is invaluable really stoked that you put this out

509
00:36:21,682 --> 00:36:25,742
for newcomers and OGs it took me back to the day I heard the news I had forgotten

510
00:36:25,742 --> 00:36:28,642
my Silk Road login but it was a wild time,

511
00:36:29,142 --> 00:36:33,082
I of course never bought or sold anything thankfully also never knew I shared

512
00:36:33,082 --> 00:36:38,102
a birthday with him how about that rock on Chris keep us going and don't stop oh well thank you.

513
00:36:38,969 --> 00:36:42,509
I definitely checked out the Silk Road back in the day. And,

514
00:36:42,509 --> 00:36:49,669
you know, it has this sort of, I don't know, reputation as a dark web marketplace.

515
00:36:49,709 --> 00:36:52,789
But it was, you know, it was like a PHP app or whatever.

516
00:36:53,389 --> 00:36:57,989
It had some frames with the sidebar and, you know, listings in the middle with reviews.

517
00:36:58,409 --> 00:37:03,889
I mean, the nice thing that I think people overlook about Silk Road is you had

518
00:37:03,889 --> 00:37:05,669
reviewers on the buyers and sellers.

519
00:37:06,209 --> 00:37:09,589
So imagine something that's always been illegal and done out in the streets

520
00:37:09,589 --> 00:37:14,729
where you could get stabbed or shot or ripped off or get a bag of something bogus.

521
00:37:15,349 --> 00:37:19,289
Silk Road just totally flipped that on its head. You had reviews and reputations.

522
00:37:19,389 --> 00:37:24,149
And so it behooved you to participate in the system and be well behaved.

523
00:37:24,449 --> 00:37:28,069
And I don't know, man, like in a way, you know, they were talking about how dangerous it was.

524
00:37:28,169 --> 00:37:33,109
But in a way, that to me seems like a much safer situation.

525
00:37:33,789 --> 00:37:37,849
Right. I mean, it's still illegal, but at least it's not what I,

526
00:37:38,029 --> 00:37:40,129
you know, like the danger that I just described. I don't know.

527
00:37:40,749 --> 00:37:43,389
I don't think Ross ever deserved what he got. I'm glad he's out.

528
00:37:43,829 --> 00:37:45,449
And thank you for the booze block.

529
00:37:46,609 --> 00:37:55,309
Listener Jeff is here, aka producer Jeff, with a row of 6,666 lucky numbers.

530
00:37:57,009 --> 00:38:00,069
That's not possible. Nothing can do that. Yeah, I know.

531
00:38:00,389 --> 00:38:03,109
I know. Everything's under control. Super informative episode,

532
00:38:03,249 --> 00:38:06,029
not sure what effect this pardon may have for the Bitcoin community.

533
00:38:06,309 --> 00:38:09,249
Frankly, all crimes are committed with all forms of value, and those crimes

534
00:38:09,249 --> 00:38:10,589
should be just fine justice.

535
00:38:11,089 --> 00:38:14,469
Making an example out of someone for crimes committed with a out on the fringe

536
00:38:14,469 --> 00:38:17,869
at the time, currency is horrible regardless of the guilt or the crime.

537
00:38:18,229 --> 00:38:21,869
One should find justice for their crimes and nothing more. Reminds me of how

538
00:38:21,869 --> 00:38:24,069
Nintendo ruined a man's life for making mod chips.

539
00:38:24,469 --> 00:38:27,629
Seems like the punishment just didn't fit the crime. Personally not a fan of

540
00:38:27,629 --> 00:38:32,449
any drug dealer regardless of how they do it, including pharmaceutical ones. Ah, ha, ha.

541
00:38:32,809 --> 00:38:36,549
Calling out the pharmaceuticals. You know, he never sold drugs.

542
00:38:36,729 --> 00:38:37,909
He just built the website.

543
00:38:38,149 --> 00:38:40,489
Kind of letting adults do what they do. You know, he's a libertarian,

544
00:38:40,869 --> 00:38:43,889
you know, very libertarian thing to do. And...

545
00:38:45,189 --> 00:38:48,509
Maybe a few years in jail, you know, like everybody else got like three or five

546
00:38:48,509 --> 00:38:49,929
years in jail. OK, maybe. Right.

547
00:38:50,209 --> 00:38:54,749
But multiple life sentences with no chance of parole for creating the PHP website

548
00:38:54,749 --> 00:38:56,189
that other people use to sell drugs.

549
00:38:56,889 --> 00:39:01,829
Woo, doggy. Tell you what. Seems like a lot. Hey, look, there's Gene Bean and

550
00:39:01,829 --> 00:39:03,609
he's got a whole big old row of ducks.

551
00:39:08,849 --> 00:39:12,789
Thank you, PJ. And Gene Bean writes, the nuclear waste from the military gets

552
00:39:12,789 --> 00:39:15,089
buried just like the rest of it, as far as I know. But where, Gene?

553
00:39:15,709 --> 00:39:20,349
Where? And why does it not seem to be a problem? Or does it leak and they just don't tell us?

554
00:39:20,949 --> 00:39:24,289
Gene says, regarding Liquid, any downside to running the Bolts web app?

555
00:39:24,629 --> 00:39:27,589
Myself, or is it beneficial to just use Bolts.exchange, in your opinion?

556
00:39:28,269 --> 00:39:31,329
Either way, I think the Bolts web app is just actually interacting with the

557
00:39:31,329 --> 00:39:32,569
back end of Bolts.exchange.

558
00:39:32,649 --> 00:39:36,849
I use both. You could also look at swap.io. There's another one over there for

559
00:39:36,849 --> 00:39:41,389
pegging in and out of Liquid. And sometimes their rates are a little bit cheaper.

560
00:39:41,889 --> 00:39:47,789
But I do love Boltz.exchange. If I got tattoos of Bitcoin companies,

561
00:39:48,029 --> 00:39:49,329
Boltz.exchange would be one of them.

562
00:39:51,449 --> 00:39:54,629
Boosting in what, he says, also I wanted to boost in, what's the point,

563
00:39:56,109 --> 00:39:57,489
I don't really even follow you.

564
00:39:57,589 --> 00:40:01,929
Boosting in, what is the post of mine because others here could show authors the V4V way?

565
00:40:02,469 --> 00:40:05,489
Gene, I don't even understand what that sentence is. I don't even,

566
00:40:05,669 --> 00:40:07,449
Gene, Gene, Gene, I don't even know.

567
00:40:08,235 --> 00:40:10,875
But I do like the sentiment in the Noster post, you link. He says,

568
00:40:11,015 --> 00:40:13,895
I'm a big believer in value for value and such. I send stats to podcasts like

569
00:40:13,895 --> 00:40:15,595
Chris Fisher's This Week in Bitcoin all the time.

570
00:40:16,015 --> 00:40:19,175
I recently learned of Broken Money by Lynn Alden. I'm finishing it up tonight.

571
00:40:19,455 --> 00:40:22,235
I've learned so much from that book that I want to send her some value back

572
00:40:22,235 --> 00:40:25,715
as well. The result of my first Boostergram lightning payment with a message

573
00:40:25,715 --> 00:40:26,655
attached to the book author.

574
00:40:27,115 --> 00:40:30,495
I say this not to brag, but in hopes of spreading the value for value model

575
00:40:30,495 --> 00:40:34,915
beyond podcasting 2.0 apps. Now, Gene, I am with you on that. Good buddy.

576
00:40:35,535 --> 00:40:38,735
Boy, oh boy. I tell you what. I would love to, not books, yes,

577
00:40:38,895 --> 00:40:40,815
books, music, obvious, right?

578
00:40:41,135 --> 00:40:46,155
Right? You're doing a good job. But wouldn't it also be great to see software?

579
00:40:47,295 --> 00:40:49,735
Please, please, can somebody please,

580
00:40:50,015 --> 00:40:52,755
please tell software developers about Boost? Never tell me the odds.

581
00:40:52,915 --> 00:40:56,015
Just make it so. And Gene, maybe you're starting the process.

582
00:40:56,575 --> 00:40:57,795
Thanks for sharing that with me.

583
00:40:59,395 --> 00:41:04,135
ITGuy05 is here with 2,000 sats. Why you got to put numbers and letters together?

584
00:41:04,375 --> 00:41:07,955
Why can't you just go f*** yourself? Here we go. So All in the Family,

585
00:41:08,135 --> 00:41:10,955
it's Family Ties is what you were talking about with Michael J. Fox.

586
00:41:11,715 --> 00:41:15,835
Family Ties, that's it. The reason why I also watched All in the Family,

587
00:41:15,975 --> 00:41:21,355
so around the same time, because I was at an Airbnb, and I think I was using, like, Pluto TV.

588
00:41:22,115 --> 00:41:25,675
You know? And I'm just looking for something to watch because it's just,

589
00:41:25,795 --> 00:41:28,955
like, the built-in apps on this old smart TV.

590
00:41:30,115 --> 00:41:32,715
I really got to get a portable kit and just be able to bring my own media.

591
00:41:32,715 --> 00:41:37,675
But I couldn't believe they were talking about the Federal Reserve and interest

592
00:41:37,675 --> 00:41:39,915
rates and all that. It's just really funny.

593
00:41:40,035 --> 00:41:44,635
But thank you for the correction, IT guy. And it's nice to hear from you. Thanks for the boost.

594
00:41:45,175 --> 00:41:48,595
Vault Byte's here with a row of ducks. That's 2,222 zions.

595
00:41:49,735 --> 00:41:53,995
I think the crypto space has its share of retards just like the state money

596
00:41:53,995 --> 00:41:56,335
has. But Bitcoin's resilience will prevail.

597
00:41:56,755 --> 00:41:59,795
It's your own choice. What kind of money do you want to use?

598
00:42:00,275 --> 00:42:03,775
Not only that, Vault Byte, but just think about all these countries,

599
00:42:04,195 --> 00:42:06,735
especially like in the UK and in the EU.

600
00:42:08,136 --> 00:42:11,936
And other areas, I mean, and I don't know of all of them, but I know there's

601
00:42:11,936 --> 00:42:16,796
something north of 80 countries, something ridiculous, some high number of countries

602
00:42:16,796 --> 00:42:19,196
that are all looking into CBDCs.

603
00:42:19,336 --> 00:42:24,136
I wonder if I could, how many countries are looking into a CBDC?

604
00:42:24,256 --> 00:42:25,756
Because it's ridiculous right now.

605
00:42:26,616 --> 00:42:30,536
Oh, okay. Okay. Okay. Over 130 countries are currently exploring the development

606
00:42:30,536 --> 00:42:33,896
of a central bank digital currency representing 98% of global GDP. CBG.

607
00:42:35,876 --> 00:42:42,156
And if you narrow it just down to the G20 countries, 44 countries are piloting

608
00:42:42,156 --> 00:42:48,476
CBDCs right now in the G20 countries, which is up from 36 last year.

609
00:42:48,636 --> 00:42:50,936
So 44 this year from 36 last year.

610
00:42:51,336 --> 00:42:53,796
Okay, Vault. So think about this.

611
00:42:54,276 --> 00:43:00,116
Damn near everybody in the West is about to become an alt coiner or a crypto coiner of some kind.

612
00:43:00,236 --> 00:43:03,776
It might be a state coin, but they're going to be an altcoin user.

613
00:43:04,436 --> 00:43:07,076
And this entire time, they could have been buying into Bitcoin.

614
00:43:07,396 --> 00:43:11,096
You know, and they would have their state coin, and they could have a coin that

615
00:43:11,096 --> 00:43:12,256
is outside the state system.

616
00:43:12,676 --> 00:43:16,556
Is it that weird once all money is cryptocurrency? It's not that weird.

617
00:43:16,936 --> 00:43:19,856
But they couldn't get their thick heads past it.

618
00:43:20,196 --> 00:43:23,876
And now they're going to end up being a shitcoin user anyways.

619
00:43:24,156 --> 00:43:25,716
And I just think it's hilarious.

620
00:43:26,396 --> 00:43:29,896
Thank you, Vault Byte. Appreciate the boost. Ace Alkerman's back with Rodux.

621
00:43:31,396 --> 00:43:36,436
Inevitably the meme coins only cannibalize each other shit coins are for gamblers

622
00:43:36,436 --> 00:43:40,316
and degenerates the smart money goes to bitcoin i think ross albrecht emerges

623
00:43:40,316 --> 00:43:44,436
as a high as a high quality ambassador for sensible bitcoin adoption oh i would

624
00:43:44,436 --> 00:43:45,896
love that let's break this down great boost,

625
00:43:46,936 --> 00:43:49,776
you're right the shit coins are just stealing

626
00:43:49,776 --> 00:43:52,836
liquidity from each other constantly right these meme coins launch

627
00:43:52,836 --> 00:43:55,776
melania coin launches they it steals like 50 60

628
00:43:55,776 --> 00:43:59,456
percent liquidity from trump coin it's crazy it's

629
00:43:59,456 --> 00:44:04,756
really crazy also there is a really interesting stat and i wish i had this hot

630
00:44:04,756 --> 00:44:09,416
and ready for you i do not every time bitcoin has hit a hundred thou you know

631
00:44:09,416 --> 00:44:11,836
because we've hit a hundred thou then drop below then we get back to a hundred

632
00:44:11,836 --> 00:44:14,396
thou then we drop below then we get to a hundred thou like the last four or

633
00:44:14,396 --> 00:44:16,956
five times which to be expected it's a big number,

634
00:44:18,076 --> 00:44:23,716
altcoins are at a lower evaluation things like eth and avalanche and whatever

635
00:44:23,716 --> 00:44:25,976
else you know especially ETH.

636
00:44:26,076 --> 00:44:29,016
ETH is the, you know, like the first time we hit 100,000, ETH is like at four

637
00:44:29,016 --> 00:44:30,216
grand. I'm making these numbers up.

638
00:44:30,436 --> 00:44:33,736
The second time Bitcoin gets back to 100,000, ETH is at like 3,800.

639
00:44:34,136 --> 00:44:38,316
Third time ETH is at like 34. Now ETH is at like 3,200. Each time the other

640
00:44:38,316 --> 00:44:40,816
coins have gone down substantially in value.

641
00:44:41,096 --> 00:44:43,916
Where's that money going? It's going to Bitcoin.

642
00:44:44,856 --> 00:44:48,236
It's going to Bitcoin. It just does it so slowly you don't see it.

643
00:44:48,356 --> 00:44:52,916
But when you zoom out and look at the charts and price things in Bitcoin, go price ETH in Bitcoin.

644
00:44:53,176 --> 00:44:57,816
Go price pretty much every other coin and Bitcoin, they all eventually collapsed down.

645
00:44:59,288 --> 00:45:02,008
That's why we say just buy Bitcoin, hold it for four years. Don't mess around

646
00:45:02,008 --> 00:45:05,788
with the meme coins. Maybe you'll get lucky on a weird Friday and you'll make

647
00:45:05,788 --> 00:45:07,228
a million bucks on Trump coin, maybe.

648
00:45:08,028 --> 00:45:12,148
But you just put the proof of work in. You stack sats. You hold on to it.

649
00:45:12,708 --> 00:45:16,008
Thank you, Ace. It's good to hear from you. Thank you, everybody, who boosted in.

650
00:45:16,088 --> 00:45:21,268
I got some nice comments below the 2000sat cutoff line for reading on the air, on the show, on the air.

651
00:45:21,948 --> 00:45:25,628
Thank you, everybody, including Nick and others who sent nice messages.

652
00:45:25,628 --> 00:45:29,488
We had also 37 of you stream sats as you listened.

653
00:45:29,748 --> 00:45:36,048
So collectively, the show stacked 88,618 sats by you sat streamers. Thank you very much.

654
00:45:36,388 --> 00:45:40,208
I really do appreciate that. And then when you combine that with all of you

655
00:45:40,208 --> 00:45:48,468
that boosted, which was nine of you this week, we had a grand total of 195,997 sats.

656
00:45:49,248 --> 00:45:50,788
Not a blowaway episode.

657
00:45:55,628 --> 00:45:59,268
Maybe people don't like the Roth stuff. Maybe it's the Bitcoin price.

658
00:45:59,468 --> 00:46:01,928
But I'd love the support. The show continues on.

659
00:46:02,528 --> 00:46:13,268
Working hard. We'll be right back.

660
00:46:03,280 --> 00:46:15,760
Music.

661
00:46:14,388 --> 00:46:17,788
If you'd like to boost, I'll have links in the show notes. But you can get started

662
00:46:17,788 --> 00:46:19,068
with Fountain FM and Strike.

663
00:46:19,268 --> 00:46:23,308
Or use the links in the show notes for River or the Bitcoin Whale.

664
00:46:23,388 --> 00:46:26,168
They're on the Lightning Network as well. and then you just need a podcasting

665
00:46:26,168 --> 00:46:31,568
2.0 app, or if you don't want to switch podcast apps, you can use Breeze, B-R-E-E-Z.

666
00:46:31,808 --> 00:46:35,728
You can find those listed at podcastapps.com. There's a lot of ways to get involved

667
00:46:35,728 --> 00:46:37,048
and have fun, and I appreciate it.

668
00:46:38,320 --> 00:46:54,960
Music.

669
00:46:50,208 --> 00:46:53,828
I have a few things I want to follow up. This is pretty wild.

670
00:46:54,948 --> 00:46:59,308
The Czech head central bank wants to buy billions of dollars in Bitcoin.

671
00:46:59,748 --> 00:47:04,668
The central bank head is pushing to invest 5% of the nation's 146 billion reserves into Bitcoin.

672
00:47:04,908 --> 00:47:07,568
And you can imagine if the central bankers advocating for that,

673
00:47:07,728 --> 00:47:09,928
there's probably broader political support.

674
00:47:10,288 --> 00:47:13,148
And I was just extremely excited to see that because at the same time,

675
00:47:13,148 --> 00:47:16,188
we also see more states coming out than I can really keep track of.

676
00:47:16,923 --> 00:47:21,703
The Utah House, Utah's House Committee, I guess, has passed a bill that would

677
00:47:21,703 --> 00:47:24,603
allow the state to invest a portion of public funds into Bitcoin.

678
00:47:25,583 --> 00:47:30,503
Today, the real turd of Texas, Texas Lieutenant Governor Dan Patrick,

679
00:47:30,623 --> 00:47:34,243
who I just talked about last week, announced establishing the Texas Bitcoin

680
00:47:34,243 --> 00:47:38,943
as a priority bill for the 2025 legislation session.

681
00:47:39,263 --> 00:47:43,883
I mean, the whole list is a mixed bag, but number 21 on the list is establishing

682
00:47:43,883 --> 00:47:46,443
a Texas Bitcoin reserve.

683
00:47:47,303 --> 00:47:53,163
It's remarkable. And then if that momentum wasn't enough, Vancouver,

684
00:47:53,203 --> 00:47:57,903
which I told you they were working on, has passed the Bitcoin-friendly city

685
00:47:57,903 --> 00:47:59,903
motion. And things are looking up.

686
00:48:00,063 --> 00:48:03,803
Inside Vancouver City Hall, the mayor is bullish on Bitcoin.

687
00:48:04,263 --> 00:48:07,163
I think it's the greatest invention ever in human history.

688
00:48:07,403 --> 00:48:11,303
Ken Simm, the chartered accountant and investment banker turned business owner,

689
00:48:11,483 --> 00:48:15,023
says the city can't afford not to consider investing in cryptocurrency.

690
00:48:15,663 --> 00:48:20,603
Bitcoin's also the number one performing asset on the planet over the last 16 years.

691
00:48:20,823 --> 00:48:23,983
If we don't do something to shore up our balance sheet going forward.

692
00:48:24,983 --> 00:48:28,543
We're not going to be able to provide the same level of services.

693
00:48:28,943 --> 00:48:33,823
Yesterday, Council passed SIMS Motion directing staff to explore holding cryptocurrency

694
00:48:33,823 --> 00:48:39,743
in reserve and accepting payments in Bitcoin for everything from parking tickets to property tax.

695
00:48:40,403 --> 00:48:44,503
Economists suggest crypto caution. If you want to be a progressive city,

696
00:48:44,523 --> 00:48:49,243
you should be looking at, you know, how the world is changing and Bitcoin is making a huge impact.

697
00:48:49,843 --> 00:48:55,903
But as I said, very, very few people use it. There is a huge question mark over its long term value.

698
00:48:56,223 --> 00:49:00,623
And so I think exploring it is probably where it will end. This is their expert.

699
00:49:01,421 --> 00:49:04,621
So let's let's go through each one of these, because it's always fun to kind

700
00:49:04,621 --> 00:49:08,481
of respond to some of these like just maybe these are automatic.

701
00:49:08,521 --> 00:49:11,001
Like they read these back in 2018.

702
00:49:11,521 --> 00:49:15,501
And so when their brain is activated and they're supposed to be an expert,

703
00:49:15,661 --> 00:49:19,461
they go to like, well, I read that Wired said this once. And so if I repeat

704
00:49:19,461 --> 00:49:20,701
this, it's probably accurate.

705
00:49:20,961 --> 00:49:24,381
Progressive city, you should be looking at, you know, how the world is changing

706
00:49:24,381 --> 00:49:28,801
and Bitcoin is making a huge impact. OK, I'd like that he acknowledges that

707
00:49:28,801 --> 00:49:31,621
Bitcoin is making a big impact, but then he says nobody's using it.

708
00:49:32,041 --> 00:49:34,941
Well, how does it make a big impact if nobody's using it?

709
00:49:35,461 --> 00:49:38,341
But as I said, very, very few people use it.

710
00:49:38,541 --> 00:49:43,321
You know, does BlackRock not count the most successful ETF launch in history?

711
00:49:43,501 --> 00:49:47,081
What about what about like the 15 other ETFs when you go all around the world

712
00:49:47,081 --> 00:49:51,021
that have literally thousands of users?

713
00:49:51,101 --> 00:49:53,741
And then you have all of the millions of on-chain users. Like,

714
00:49:53,981 --> 00:49:58,261
what is the threshold for a lot of users?

715
00:49:58,561 --> 00:50:01,061
Because is it billions?

716
00:50:01,461 --> 00:50:02,881
Like, what is it for this guy?

717
00:50:03,981 --> 00:50:08,841
Clearly, it's not whatever Bitcoin is, which seems to be pretty huge in my estimation.

718
00:50:09,221 --> 00:50:12,261
There is a huge question mark over its long-term value here.

719
00:50:12,481 --> 00:50:15,501
Yeah, OK, because you know what? The volatility is so scary,

720
00:50:15,661 --> 00:50:17,321
right? The volatility is so scary.

721
00:50:17,781 --> 00:50:22,821
Well, Bitcoin is the only asset that comes back, right? Lynn wrote this in a

722
00:50:22,821 --> 00:50:24,581
newsletter, and I just thought this was so perfect.

723
00:50:24,801 --> 00:50:29,501
She says, in fact, Bitcoin is the only asset I'm aware of that has had four

724
00:50:29,501 --> 00:50:37,461
separate instances of drawing down over 75% and bouncing back to an all-time new high each time.

725
00:50:38,439 --> 00:50:41,339
That's how assets are monetized. That's not how bubbles work.

726
00:50:42,199 --> 00:50:45,539
Bitcoin is not tulips. Bitcoin is not a bubble.

727
00:50:46,059 --> 00:50:49,579
You don't have something that collapses and then re-inflates and then collapses.

728
00:50:49,799 --> 00:50:53,879
That's not a bubble. That is an asset growing. And each time it levels off at a newer, higher rate.

729
00:50:54,719 --> 00:51:01,319
You look at it, $100,000. And this argument still is accepted on air.

730
00:51:01,899 --> 00:51:08,039
But as I said, very, very few people use it. There is a huge question mark over its long-term value.

731
00:51:08,439 --> 00:51:12,299
And so I think exploring it is probably where it will end. If the city does

732
00:51:12,299 --> 00:51:16,739
decide to dive into cryptocurrency, there is a looming legal question.

733
00:51:16,979 --> 00:51:18,839
Provincial law prevents municipalities

734
00:51:18,839 --> 00:51:22,499
from accepting it as payment or using it to make investments.

735
00:51:22,899 --> 00:51:26,579
A lot of the rules that currently exist are pretty much outdated.

736
00:51:26,999 --> 00:51:30,879
It really shows you the uphill battle that some of these Bitcoin,

737
00:51:30,879 --> 00:51:33,379
I guess, legislative actions are going to have to take.

738
00:51:34,039 --> 00:51:37,659
Right. I mean, even if they even if they get past the study phase,

739
00:51:37,939 --> 00:51:40,939
then they have to, like, you know, get past the whole we can't use it as an

740
00:51:40,939 --> 00:51:43,719
investment means phase. It's just so dumb.

741
00:51:43,959 --> 00:51:46,279
It's so bad. It's so bad.

742
00:51:47,199 --> 00:51:51,039
Let's talk about something better. Last week, I gave Pomp, Anthony Pompliano,

743
00:51:51,279 --> 00:51:58,199
a hard time because he went on CNBC and just absolutely did not manage to explain

744
00:51:58,199 --> 00:52:01,439
the difference between crappy meme coins and Bitcoin.

745
00:52:02,039 --> 00:52:06,959
I couldn't believe it. It was like a setup, and he just managed to not knock it out of the park.

746
00:52:07,639 --> 00:52:12,299
So when the Mooch went on CBS, and I think it's like their Sunday morning show

747
00:52:12,299 --> 00:52:16,999
with millions of more viewers, I thought, oh, boy, Anthony Scaramucci is going

748
00:52:16,999 --> 00:52:21,439
to blow it, and he's going to embarrass Bitcoiners in front of the nation.

749
00:52:22,811 --> 00:52:25,031
I don't know. Maybe he did all right. Maybe he even did better than Pomp.

750
00:52:25,231 --> 00:52:27,251
Let's see how he did, and you tell me what you think.

751
00:52:28,571 --> 00:52:31,551
Do me a glossary check, Anthony.

752
00:52:31,891 --> 00:52:37,391
You see that the struggling to breathe, the searching for words.

753
00:52:39,771 --> 00:52:43,751
Do me a glossary check, Anthony.

754
00:52:44,871 --> 00:52:49,691
You know, like, it's this is major. He's annoyed by it.

755
00:52:49,771 --> 00:52:55,571
He struggles to understand it still. So do me a glossary check, Anthony.

756
00:52:56,471 --> 00:53:00,211
Bitcoin, stablecoin, memecoin, tokens, are they all the same thing?

757
00:53:01,191 --> 00:53:06,791
No. And so what Bitcoin really is, and without giving up too much detail on

758
00:53:06,791 --> 00:53:12,151
television to bore people, but it's become a durable, stable,

759
00:53:12,831 --> 00:53:14,611
long-term store of value.

760
00:53:14,791 --> 00:53:19,671
And I say stable because it's never been hacked. It's sort of impregnable and

761
00:53:19,671 --> 00:53:21,271
it's scarce and it's immutable.

762
00:53:21,531 --> 00:53:27,931
It's volatile, though, and it goes up and down as the society is adopting Bitcoin.

763
00:53:28,011 --> 00:53:33,811
We've experienced high volatility in Bitcoin, but it's the best performing asset over the last 10 years.

764
00:53:33,971 --> 00:53:37,411
And so if you read something like Neil Ferguson's book, The Ascent of Money,

765
00:53:37,611 --> 00:53:43,071
it checks all of the boxes of what human beings like in their money in terms

766
00:53:43,071 --> 00:53:46,691
of using it as a technology to trade goods and services with each other.

767
00:53:47,031 --> 00:53:50,211
This is it. I don't know. Maybe, Mooch, maybe you're listening to the show and

768
00:53:50,211 --> 00:53:53,271
you heard me say, talk about it is good money, you're doing it.

769
00:53:53,431 --> 00:53:56,591
Like, I couldn't believe it. When he goes to the, it's good money, like, yes!

770
00:53:57,551 --> 00:54:00,711
Yes! This is what you focus on!

771
00:54:01,271 --> 00:54:05,591
Ugh. A meme coin is really just a gambling token. It has...

772
00:54:06,490 --> 00:54:11,390
You know, blockchain technology to it, and you can transfer it back and forth

773
00:54:11,390 --> 00:54:14,750
to each other, but it really doesn't have that much value, and it hasn't really

774
00:54:14,750 --> 00:54:18,430
been adapted by the mainstream financial institutions.

775
00:54:18,870 --> 00:54:22,250
And you mentioned some other things. Those are also, you know,

776
00:54:22,510 --> 00:54:27,930
security-like instruments in the world of technology, but nothing is as durable

777
00:54:27,930 --> 00:54:29,890
or as sustainable as Bitcoin.

778
00:54:30,430 --> 00:54:35,610
There you go. How hard was that? Good job, Mooch. Pomp, what are you doing? What are you doing?

779
00:54:36,050 --> 00:54:39,890
Also, I thought this was just fun. You know, I love watching local news because

780
00:54:39,890 --> 00:54:42,850
it's always a little bit less polished than the national stuff.

781
00:54:43,070 --> 00:54:44,570
I don't know. I enjoy that more.

782
00:54:44,850 --> 00:54:50,790
And it's also interesting to see local news have to talk about Bitcoin because

783
00:54:50,790 --> 00:54:54,130
there's genuine interest in their local community.

784
00:54:54,590 --> 00:54:58,810
But they're not experts and they have to acknowledge that or or they have to

785
00:54:58,810 --> 00:54:59,610
at least be disingenuous.

786
00:54:59,750 --> 00:55:03,490
They have to they have to pick a route. Right. So it's always funny to see which way they're going to go.

787
00:55:04,090 --> 00:55:09,710
Another record set today by the price of Bitcoin. How many of you understand it? I don't.

788
00:55:10,010 --> 00:55:14,270
Okay, so we know what route he's chosen. The humility route, which I applaud.

789
00:55:14,490 --> 00:55:18,330
I can't teach you about it, but today I talked with a financial advisor who

790
00:55:18,330 --> 00:55:20,710
believes you need to learn more about it.

791
00:55:21,410 --> 00:55:26,550
Ray Houstu watches the financial station for a Bitcoin price. There it is right there.

792
00:55:26,950 --> 00:55:31,110
Imagine staring at the Fox Business price ticker lower third all day,

793
00:55:31,110 --> 00:55:33,450
waiting for the Bitcoin price to come across.

794
00:55:33,830 --> 00:55:37,430
That's how this boomer's getting his Bitcoin prices. I'm not trying to be ageist,

795
00:55:37,710 --> 00:55:41,110
but that's not something anybody younger would ever even think of,

796
00:55:41,250 --> 00:55:43,230
right? They've got widgets on their phone.

797
00:55:43,410 --> 00:55:47,250
I'm not even lying, guys. I've got a Bitcoin price widget on my watch, okay?

798
00:55:47,390 --> 00:55:51,590
I've got price widgets on everything, all right? I've got websites bookmarked

799
00:55:51,590 --> 00:55:54,010
with different types of ways of displaying the Bitcoin price,

800
00:55:54,170 --> 00:55:55,430
depending on my mood, right?

801
00:55:55,590 --> 00:55:59,950
I'm not waiting for Fox Business to every 10 minutes scroll the price,

802
00:55:59,950 --> 00:56:03,770
whatever the price was five minutes ago when they updated the lower third.

803
00:56:03,930 --> 00:56:08,190
It's just like never even crossed my mind. This guy literally stands around

804
00:56:08,190 --> 00:56:10,550
watching the TV waiting for the price ticker.

805
00:56:11,030 --> 00:56:15,010
Okay, so he's going to tell us about Bitcoin. Ray Houstu watches the financial

806
00:56:15,010 --> 00:56:18,210
station for a Bitcoin price. There it is right there.

807
00:56:19,508 --> 00:56:23,748
92,600. Another record-setting day.

808
00:56:23,988 --> 00:56:28,968
I absolutely advise everybody to do your homework on it, to research this.

809
00:56:29,328 --> 00:56:32,628
It is something that you need to know and learn about.

810
00:56:32,908 --> 00:56:37,068
Ray Houstu is a financial advisor. He was a doubter at first on Bitcoin,

811
00:56:37,068 --> 00:56:41,828
but he studied it, finding a paper which explained the blockchain technology

812
00:56:41,828 --> 00:56:44,208
Bitcoin is based on. All right, my guy.

813
00:56:44,408 --> 00:56:49,688
They got a decent guy here. In fact, you'll come to discover he went in specifically

814
00:56:49,688 --> 00:56:53,328
wanting to criticize Bitcoin, looking for things to doggone it about,

815
00:56:53,848 --> 00:56:57,428
does the research and comes away with the conclusion, wait, this is actually

816
00:56:57,428 --> 00:56:58,268
really good technology.

817
00:56:58,508 --> 00:57:03,308
I love those conversion stories. And I read that and I was blown away by it

818
00:57:03,308 --> 00:57:06,248
because I just wanted to find a reason to tell people this was garbage.

819
00:57:06,468 --> 00:57:10,268
And I couldn't. How Stu can't say whether you should buy it or not.

820
00:57:10,568 --> 00:57:12,288
Every person's situation is different.

821
00:57:12,948 --> 00:57:16,088
He believes demand for Bitcoin right now is based on two things.

822
00:57:16,328 --> 00:57:22,568
The SEC approved it for exchange-traded products, and Donald Trump embracing digital assets.

823
00:57:22,788 --> 00:57:26,888
Bitcoin is the network itself, so the government can't control it,

824
00:57:26,888 --> 00:57:29,768
the bank can't control it, the central banks can't control it,

825
00:57:30,088 --> 00:57:33,008
and that's part of the reason that people are excited about it.

826
00:57:33,148 --> 00:57:38,648
Bitcoin seemed more like a gaming token, a novelty instrument when it started 15 years ago.

827
00:57:39,348 --> 00:57:43,448
Now it's recognized like other investments, which are centuries old.

828
00:57:43,668 --> 00:57:45,508
Right up there with silver and oil and everything else.

829
00:57:45,868 --> 00:57:49,408
House 2 believes Bitcoin has proven that it's here to stay.

830
00:57:49,628 --> 00:57:53,008
It's like gold, only it's much more efficient than gold. You don't have to pay

831
00:57:53,008 --> 00:57:55,628
to store it. You don't have to pay to transport it. You don't have to pay to protect it.

832
00:57:55,868 --> 00:57:59,268
You don't have to cut, you know, with gold, you can't cut slivers off to pay for things.

833
00:57:59,788 --> 00:58:01,588
All those you can do with Bitcoin.

834
00:58:02,568 --> 00:58:08,748
Now, there will only be 21 million Bitcoin mined. there are 56 million millionaires around the world.

835
00:58:08,888 --> 00:58:11,728
If every one of them wanted to own a full Bitcoin.

836
00:58:15,090 --> 00:58:18,690
I like that little, I left that little bit at the end there just because I like

837
00:58:18,690 --> 00:58:21,430
it. The millionaire, if every one of them wanted to, they couldn't.

838
00:58:23,390 --> 00:58:26,970
Okay, you mentioned, I mentioned, you heard me mention tulip bubble.

839
00:58:27,430 --> 00:58:31,390
How many times have you heard Bitcoin called tulips? It's the modern tulip mania.

840
00:58:32,010 --> 00:58:36,850
Well, you know, for a little background, tulip mania lasted approximately three to four years.

841
00:58:37,010 --> 00:58:40,430
Okay, so first of all, Bitcoin is a little bit older than that.

842
00:58:40,430 --> 00:58:43,730
And it went from 19, I'm sorry, 19.

843
00:58:43,990 --> 00:58:47,450
It went from 1634 to like 1637.

844
00:58:48,270 --> 00:58:52,010
Collapsed, I believe, in February of 1637. And,

845
00:58:52,170 --> 00:58:55,530
you know, it has such resonance in our history,

846
00:58:55,530 --> 00:58:59,250
but the overall impact of the tulip bubble on the Dutch economy was relatively

847
00:58:59,250 --> 00:59:06,770
limited at the time and actually has cemented the Dutch as the source for the

848
00:59:06,770 --> 00:59:10,050
best tulips in the world for the remainder of history.

849
00:59:10,550 --> 00:59:16,610
So they've done pretty well. But to compare Bitcoin to tulips is a demonstration

850
00:59:16,610 --> 00:59:19,910
of someone's ignorance of how these things work and of how bubbles work.

851
00:59:20,050 --> 00:59:22,370
And I just talked about how bubbles work with Lynn's article,

852
00:59:22,590 --> 00:59:25,230
which I'll try to link to the entire thing in the show notes.

853
00:59:25,830 --> 00:59:28,830
But Michael Saylor was, and I haven't played a clip of his for a while.

854
00:59:29,290 --> 00:59:34,330
He was at a Q&A interview at a special all access event. I got the details for you here.

855
00:59:35,208 --> 00:59:40,568
This is the description. At the exclusive CEO reception during the ICR Conference

856
00:59:40,568 --> 00:59:46,148
2025, Michael Saylor, executive chairman of MicroStrategy, captivated the audience

857
00:59:46,148 --> 00:59:49,268
in an engaging interview with CNBC's Morgan Brennan.

858
00:59:49,708 --> 00:59:53,788
The invitation-only event provided a unique platform for Saylor to share his

859
00:59:53,788 --> 00:59:57,728
insights on cryptocurrency and the future of digital assets.

860
00:59:57,928 --> 01:00:02,128
And there was a Q&A portion at the end, and this guy who's all smart,

861
01:00:02,288 --> 01:00:06,428
and he's figured it out. You know, Michael Saylor doesn't know what he's doing.

862
01:00:06,888 --> 01:00:12,428
He's spent all these billions of dollars because he didn't realize that Bitcoin

863
01:00:12,428 --> 01:00:14,028
is just another tulip mania.

864
01:00:14,288 --> 01:00:18,868
And so he says, hey, it looks like tulip mania to me. What say you?

865
01:00:19,388 --> 01:00:26,048
Silly Michael. He is a science historian. I've read 100,000 pages of history.

866
01:00:26,268 --> 01:00:27,888
It starts as a science historian.

867
01:00:28,148 --> 01:00:31,908
He says, as a science historian. That's how he starts. As a science historian.

868
01:00:31,908 --> 01:00:35,908
I'm like, oh boy, it's going to be one of these answers. And I think the story

869
01:00:35,908 --> 01:00:43,828
of history is humanity's condition was improved when we got clean water, clean food,

870
01:00:44,208 --> 01:00:47,148
clean air, electricity, clean power.

871
01:00:47,288 --> 01:00:52,748
When we got petroleum, when we got cars, when we got nuclear energy,

872
01:00:52,968 --> 01:00:53,988
when we got antibiotics.

873
01:00:54,368 --> 01:00:58,588
If you look at the plight of humanity for thousands of years,

874
01:00:58,808 --> 01:01:03,788
people are dying at age 30. There's a 40% infant mortality rate because the

875
01:01:03,788 --> 01:01:08,168
food's dirty, the water's dirty, and they've got no hope.

876
01:01:08,288 --> 01:01:12,828
And when they were dying of dirty water and dirty food, they didn't know they

877
01:01:12,828 --> 01:01:14,928
were dying of dirty water and dirty food.

878
01:01:15,088 --> 01:01:17,568
We bled George Washington to death.

879
01:01:17,868 --> 01:01:24,168
Every rich person in the Middle Ages died of gout because they drank red wine,

880
01:01:24,168 --> 01:01:29,448
because they couldn't drink water, because it was contaminated. and so.

881
01:01:30,419 --> 01:01:35,179
All of these companies, if you look at the mortality rate of a corporation is

882
01:01:35,179 --> 01:01:39,739
99%. The average life expectancy of a company is 10 to 15 years.

883
01:01:40,059 --> 01:01:43,059
And you can say, well, we'll just take it for granted.

884
01:01:43,479 --> 01:01:47,899
Companies should only last 10 years. Just like, you know, 40% of your kids,

885
01:01:48,059 --> 01:01:52,299
maybe they should just die before the age of five because that's just the way God willed it.

886
01:01:52,479 --> 01:01:57,319
Or maybe we should just die at age 31, which is the life expectancy in Elizabethan

887
01:01:57,319 --> 01:02:03,299
England. But the point is, they didn't die because they were genetically predisposed to die.

888
01:02:03,439 --> 01:02:08,959
They died because they had dirty food, dirty water, dirty energy.

889
01:02:08,959 --> 01:02:10,779
They worked themselves to death.

890
01:02:11,179 --> 01:02:15,519
And the best thing that ever happened to humanity was the passage of technology.

891
01:02:15,999 --> 01:02:19,479
So Satoshi put his finger on one observation.

892
01:02:19,819 --> 01:02:25,659
The observation is the money is corrupt and dirty and is defective.

893
01:02:25,659 --> 01:02:31,299
And you want me to show you how it's defective I tell you a thousand stories

894
01:02:31,299 --> 01:02:38,299
of people being murdered for their money Every single story of Jews fleeing

895
01:02:38,299 --> 01:02:43,439
from authoritarianism Every story in Germany of the Protestants,

896
01:02:43,539 --> 01:02:46,599
the Catholics, murdering each other Everybody that came to America,

897
01:02:46,619 --> 01:02:48,939
they came because they're fleeing for property rights,

898
01:02:49,792 --> 01:02:56,052
The entire history of the human race is littered with tragedy because people

899
01:02:56,052 --> 01:02:59,212
never had proper economic energy.

900
01:03:00,112 --> 01:03:04,652
A type 1 diabetic can't store organic energy. They will eat themselves to death.

901
01:03:05,112 --> 01:03:09,812
Fat is the way you store organic energy. Somehow, over the course of hundreds

902
01:03:09,812 --> 01:03:15,632
of millions of years, mammals figured out how to store organic energy, and they had fat cells.

903
01:03:16,392 --> 01:03:20,932
We as humans have not had the ability to store economic energy properly.

904
01:03:20,932 --> 01:03:26,652
We tried with gold. It never quite worked. I could give you 100 examples of it not quite working.

905
01:03:26,852 --> 01:03:34,092
I can give you 1,000 examples of hyperinflation dating back to 500 BC of money not quite working.

906
01:03:34,312 --> 01:03:40,172
For the first time in human history, we have invented a technology that allows

907
01:03:40,172 --> 01:03:46,712
a human to tightly bind economic energy to their person or for a corporation

908
01:03:46,712 --> 01:03:50,452
to tightly bind economic energy to the corporation,

909
01:03:50,792 --> 01:03:56,472
what it means is you don't have to suffer an early painful economic death.

910
01:03:56,692 --> 01:04:01,232
And you can tell me, oh, that doesn't matter. But I would point to everyone

911
01:04:01,232 --> 01:04:07,552
in Africa. I would point to all of the misery in Cuba and North Korea and Venezuela.

912
01:04:08,132 --> 01:04:12,372
I would point to the misery in the aftermath of hyperinflationary incidents

913
01:04:12,372 --> 01:04:14,872
that took place in Brazil, Argentina.

914
01:04:15,072 --> 01:04:18,072
Venezuela Russia I could

915
01:04:18,072 --> 01:04:21,052
go on forever there are literally a hundred thousand

916
01:04:21,052 --> 01:04:24,312
pages read the story of civilization by Will Durant

917
01:04:24,312 --> 01:04:27,432
and you will find a thousand examples of

918
01:04:27,432 --> 01:04:34,032
currency collapse and economic misery and this person Satoshi offered us this

919
01:04:34,032 --> 01:04:39,632
gift the gift is you get to own your own money and no one can take it away from

920
01:04:39,632 --> 01:04:44,112
you you get to keep it right you get to keep your life force.

921
01:04:44,152 --> 01:04:45,152
And what do I think will happen?

922
01:04:45,975 --> 01:04:50,135
I think that companies' life expectancy on the Bitcoin standard goes from 10

923
01:04:50,135 --> 01:04:53,615
years to 30 years to 40 years to 100 years.

924
01:04:53,795 --> 01:04:55,995
And I think living longer is a good thing.

925
01:04:56,195 --> 01:05:01,515
And I think families' life expectancy is dramatically increased.

926
01:05:02,015 --> 01:05:06,795
I could do the simple math for you. The half-life of money in gold is 30 years.

927
01:05:07,095 --> 01:05:09,195
Gold debases at 2% a year.

928
01:05:09,715 --> 01:05:14,095
30, 35 years. The half-life of money in Bitcoin is forever.

929
01:05:14,735 --> 01:05:18,435
0% inflation makes your money last forever.

930
01:05:19,435 --> 01:05:24,455
So I think that some people will not appreciate it, and they won't get it.

931
01:05:24,555 --> 01:05:26,935
That's okay. You don't have to buy it.

932
01:05:27,435 --> 01:05:32,235
Lots of people won't buy it. By the way, I do think that if you ask how many

933
01:05:32,235 --> 01:05:36,855
Americans own it or care, they just tipped the election in favor of Trump.

934
01:05:37,055 --> 01:05:41,715
I think they care. I think the crypto lobby is the number one political force

935
01:05:41,715 --> 01:05:45,855
today. So I do think there's a lot of people that do agree with me.

936
01:05:46,115 --> 01:05:51,735
They do get it. There are $800 billion to a trillion dollars of real money that

937
01:05:51,735 --> 01:05:54,735
has been invested in the network. You can trace it if you like.

938
01:05:54,995 --> 01:05:57,055
But that doesn't mean it's for everybody.

939
01:05:57,695 --> 01:06:02,135
Everyone didn't install electricity in Florida. Sorry, air conditioning, right?

940
01:06:02,675 --> 01:06:08,235
Right, that's new. All sorts of technologies don't get embraced for 30 years, and this won't.

941
01:06:08,335 --> 01:06:12,375
But I would say clean money is just as important as antibiotics.

942
01:06:12,395 --> 01:06:13,995
It's just as important as fat.

943
01:06:14,155 --> 01:06:16,915
It's just as important as clean electricity, right?

944
01:06:18,055 --> 01:06:22,155
So that's my answer to you. It's technology. It makes the world a better place.

945
01:06:22,155 --> 01:06:28,655
And I think that for a billion human beings that are destined to economic misery,

946
01:06:28,655 --> 01:06:30,855
for them it's the matter of life or death.

947
01:06:31,095 --> 01:06:34,355
You're not one of them, right? We'll stipulate.

948
01:06:34,735 --> 01:06:39,875
Lots of Americans aren't one. But drop yourself in Nigeria where it's illegal

949
01:06:39,875 --> 01:06:43,555
to own the dollar, where the Naira is going to zero,

950
01:06:44,395 --> 01:06:46,255
and then try to give some money to

951
01:06:46,255 --> 01:06:50,155
a person you want to help in Nigeria or capitalize a company in Nigeria.

952
01:06:50,375 --> 01:06:54,555
And tell me how you're going to do it. Because generally the answer is,

953
01:06:54,875 --> 01:06:57,335
well, we just don't. Everybody stays poor.

954
01:06:57,515 --> 01:07:00,215
Every company fails. And all the economies collapse.

955
01:07:00,535 --> 01:07:05,575
And that's the same answer as a type 1 diabetic. diabetic. We just don't. We just die.

956
01:07:06,275 --> 01:07:11,195
And I think insulin to a type 1 diabetic is Bitcoin.

957
01:07:11,760 --> 01:07:31,120
Music.

958
01:07:30,969 --> 01:07:33,289
On the state of the network before we get out of here. Right now,

959
01:07:33,429 --> 01:07:37,709
Bitcoin's sitting at 104,100 U.S. greenbacks.

960
01:07:38,169 --> 01:07:42,849
Sats per dollar, 961 sats to one U.S. greenback.

961
01:07:43,929 --> 01:07:50,809
We are down 4.6% from our all-time high, which is nine days ago on January 19th, 2025.

962
01:07:51,549 --> 01:07:54,589
Close, though. 109, 104, pretty, you know, in the range.

963
01:07:55,629 --> 01:08:01,289
Love to see this. Reachable nodes on the network. We're almost to 21,000, boys. We almost there.

964
01:08:01,729 --> 01:08:07,729
21,923. Come on. Come on. We can get it to 21,000. Come on. We can do that.

965
01:08:08,409 --> 01:08:13,669
And this show, it wraps up at block height 881,418.

966
01:08:15,329 --> 01:08:18,289
Looking at all these stats here, it's just incredible. TikTok,

967
01:08:18,309 --> 01:08:20,929
another block. The network is strong.

968
01:08:21,680 --> 01:08:29,200
Music.

969
01:08:28,289 --> 01:08:30,949
Links to what i talked about today will be over at this week in

970
01:08:30,949 --> 01:08:36,709
bitcoin.show this here was episode 44 of course you can find all the previous

971
01:08:36,709 --> 01:08:40,909
episodes over at this week in bitcoin.show would love to hear from you maybe

972
01:08:40,909 --> 01:08:44,369
boost in with what you'd like to hear or see from the show if i miss something

973
01:08:44,369 --> 01:08:47,689
you'd like to hear me talk about let me know and if you've got thoughts on anything

974
01:08:47,689 --> 01:08:49,129
I talked about, please boost in,

975
01:08:49,649 --> 01:08:54,709
including, of course, I want your thoughts on Bitcoin before and after you started

976
01:08:54,709 --> 01:08:58,129
boosting, if it changed your Bitcoin holding behavior at all.

977
01:08:58,529 --> 01:09:01,109
Also, if you think I'm way off base on the prices coming down,

978
01:09:01,389 --> 01:09:04,229
I'd love to hear your Steel Manor pushback on that as well.

979
01:09:04,369 --> 01:09:07,629
And please do consider sharing this week in Bitcoin.

980
01:09:07,889 --> 01:09:11,449
You'll have to apologize for the fact that I sometimes don't have a working

981
01:09:11,449 --> 01:09:13,169
mouth. You'll have to prepare them for that.

982
01:09:13,649 --> 01:09:16,289
But otherwise, I hope the signal is strong enough that they'll make it through

983
01:09:16,289 --> 01:09:17,209
and they'll enjoy the content.

984
01:09:17,809 --> 01:09:22,249
Also, shout out to all of you once again for the second week in a row. We did it.

985
01:09:22,529 --> 01:09:27,009
The song that I featured last week hit number one on the Value for Value music charts.

986
01:09:27,469 --> 01:09:31,729
Do It Good by Henry Invisible hit number one over at podcastindex.top,

987
01:09:31,789 --> 01:09:34,109
which is really cool to see. It's a great song.

988
01:09:34,269 --> 01:09:37,009
And this week, I'm going to leave you with another Value for Value track.

989
01:09:37,169 --> 01:09:42,809
So if you boost in during this song, 95% of your sats will go to the artist.

990
01:09:43,069 --> 01:09:45,869
It's just such a cool way to support people making independent music.

991
01:09:45,869 --> 01:09:48,109
This week, I'm featuring Lou.

992
01:09:48,240 --> 01:12:40,949
Music.