If you're watching this video, you're going to learn three big things.
Number one, why your bank account can lose money from inflation and fees.
Number two, the difference between Bitcoin and crypto,
and why Bitcoin is more like the internet than a gamble.
And number three, the beginner basics of taxes.
What gets taxed and what doesn't when you talk about Bitcoin?
Ooh, today's guest is Sam.
He is our young editor here at Sat Chats.
He came in skeptical.
The man is stacking sats now.
Legend.
So if you're brand new to Bitcoin, come on inside the world's biggest Bitcoin welcome
center for today's show.
Welcome to Sat Chats, the Bitcoin podcast where we chat about sats.
Sats are the smallest part of Bitcoin the same way pennies are the smallest part of
a dollar.
With Sat Chats, we are building the world's biggest Bitcoin welcome center to serve as your gateway to generational wealth.
So, if you are brand new to Bitcoin, we want to chat about sats with you.
Head to satchats.com to grab your slot in the studio today.
I'm your host, Stuart.
And I'm your co-host, Anna Bevan.
And with us today in the studio is a very special guest, our editor, Sam.
Also, we've called him Baby Reg.
But today he is 180 Sam.
Number 180 Sam.
Yeah.
You made it, man.
Finally made it.
Yeah, absolutely.
This is the man who edits our Monday, Tuesday, Wednesday podcast flagship Sat Chat thing.
Absolutely, yeah.
Hard worker.
So the big question here, you probably did not have any interest in Bitcoin before you started working on the show, correct?
No.
Okay.
So the question there is, why weren't you interested in Bitcoin?
Well, one thing I didn't really understand it.
I'm 20 years old.
So when I heard a Bitcoin, it was, I would say it was 2015.
I was like 10 years old where there was an ad.
I remember hearing about Bitcoin around that time.
And I was like, interesting.
There was an ad on TV?
Yeah.
I don't remember what it was either.
It was a coin base ad that feels like it would be.
I think so.
either it was on YouTube maybe
I don't really remember
but I was like interesting
it piqued my interest but I was like
but it's money that you can't hold
I was like
so I just kept going on
but I never heard about Bitcoin until
now I started editing
for it oh
I heard about crypto and I was just like
my
cousin he did
crypto for a bit
and he forgot to pull out in time.
And it went negative.
So that's where I was like,
ooh, it can go up and then go down.
It's just like,
but I thought that was Bitcoin as well.
They didn't know that it was too distinctive.
And then once I started watching your channel,
I heard it was Stuart that was saying that
crypto is kryptonite and then Bitcoin is Bitcoin.
Bitcoin is staying the same.
Like, it's not going to change, but crypto is kryptonite.
I'm like, oh, that's very interesting.
So I was like, that really got me into it a little bit more.
Good.
Yeah, I mean, do you think part of the reason why someone like you wasn't interested in Bitcoin is because, like, you're just too young to care about, like, this kind of stuff?
I mean, unless you're like really experiencing a problem that Bitcoin solves, like why would you even get curious in it?
So I feel like I got curious because money, like if you put your money in a savings account, it doesn't go up.
It just stays.
And something that I realized with my bank is that after like three months, they take out money because of a fee.
I'm just like whoa like I have like three grand and you take a hundred dollars I was like whoa
and you only give me a penny back and I was like that that's very for me I was like that's how's
that working so I started like that's when I was 17 and when I was working for my own money and I'm
just like how's this how's this fair you know I want my money to start growing with me and so I'm
just looking at a different approaches so when i saw first i went to stocks i only have like 15
in stocks got it to 30 hey you doubled your money dude 30 but uh but it was like uh like yeah i have
to invest way more like triple what i have to put into stocks just to get an outcome that i wanted
to but I'm just like where's
other ways and then like again
once I started watching your channel
about Bitcoin it just makes me go
into okay it can grow it's gonna
stay but it can grow
eventually in time it's not
for right now and that's what I'm looking
for something that doesn't grow in
quickly but in the long run it's gonna
benefit me and my future
kids or anything like that that's awesome
that's what yeah yeah that's a really
mature approach to even take
at 20 at 20
Yeah, I mean, because I remember when I started making money, I got so upset at how much the government was taking out of my paycheck.
And I think that was when money became like something that I would even entertain a thought about.
I mean, it wasn't nearly—I mean, I thought the dollar was money.
Like, I thought that was like the end-all be-all.
um and so did you was it that transition to making your own money that really started
you down the road of like how do I make this thing last how do I build this um did you even
like care about storing your value like what sort of like what was your train of thought when that
transition happened so the transition of that it was it's much very difficult when you see your
money depleting depleting on like inflation is going up and you're like whoa gas is this much
like i remember i didn't have to pay for gas and it was so amazing and now i started paying for gas
and i was like oh i used to drive a truck and every two days it was like 50 dollars a gas
so in a week truck like what kind of truck uh it was a 2008 dakota and i would drive it far like
from here to Raleigh.
No, from here to like maybe Fayetteville.
So almost an hour drive.
Yeah.
So like, and it was because of school, basically.
Oh, and you're saying you had to pay like $50 every two days?
That's crazy.
That is way too much.
And so I'm just like, how can I have money?
Like, especially having in savings to grow.
Because I would take out of my savings because I'm like,
so my check-in account's very low.
limit take out of savings and then i kept doing that and then i started seeing my savings account
going lower and lower because inflation is going higher there's a problem i need my money to
either work in the same way or surpass me because i if i keep putting in my savings account it's
going to keep depleting because of inflation fees and all this other stuff and i'm like i need to
find an attorney so that's why i went to look into stocks and then when i looked into stocks i
saw just so many stuff i'm just like i don't really trust it and if and like people were trying
to explain it to me i'm just like i it's so much like variables that can crash it and i'm just like
oh i i don't like that me neither me neither i mean like i like i know guys who will spend all
of their free time absorbing as much information as humanly possible about the NFL to like make
their fantasy football league the best it can possibly be. And that's got solid real world
implications. You know, I've got, I know people who will go deeper and deeper into the stock market
to try to make the most educated purchase they can make. I mean, when you go to the stock market,
It's almost like the world of cryptocurrency where there's like 35,000 random coins out there.
Which one's going to go up, you know, or 35,000 individual company stocks.
And you're like, well, I mean, I haven't even heard of this random company here that the Motley Fool or Jim Cramer is like telling me is going to be.
It's like, dude, I think, and of course, my good buddy Nate does the same thing for our Magic the Gathering card collecting and playing.
There's a new set that comes out every month or two, and he knows every single card.
And I'm like, personally, I don't have time to absorb that much information about that thing.
And it's just not my interest level.
Like, I just want one thing that I can attach to and do consistently over time and have it work out for me.
You know, do you feel like that resonates with you?
Oh, absolutely.
There was also another story.
My friend, he was trying to invest.
I think it was 16, 17, 18.
We were 18 at the time.
And he found a guy that he was like, oh, we can grow your stocks.
and so many.
I told him no.
I was like,
we don't know the guy.
We don't know who he is.
And basically,
I was like,
it's a gamble.
I was like,
if you want to gamble,
let's go to the casino
and do it.
But he was like,
no,
this is a good investment.
So he went with the guy
and comes to find out
it was a scam.
Took his money.
And so I'm just like,
that's the thing.
You have to rely on somebody else
to know what they're saying.
What variables are there?
That's why I'm just like, I can't trust a person that I have to rely solely on them for variables that is unpredictable sometimes.
And that's why I'm just like, like Bitcoin, I see that it's standard.
Like it's going into it.
And I see that many stores are accepting Bitcoin.
There's a wave and I can't be left behind.
Yeah.
Can't be left behind.
Yeah.
I was thinking about this this morning, Sam. I was like, people would never tell me that the internet was going to crash tomorrow.
Like nobody would say, hey, I don't think the internet is based on anything, right?
The internet is a system of rules that computers follow in order to communicate with one another, right?
It's a protocol.
It doesn't matter whether you believe in the internet or don't believe in the internet.
The internet works.
Because I was thinking, I was like, dude, so many people have told me that they don't think Bitcoin is real.
they don't think it's backed by anything and i'm like this isn't a stock it's not a cryptocurrency
in today's world where cryptocurrencies are just coins people make up like this is like
this is a factual thing the internet is a thing bluetooth is a thing email is a thing like nobody's
like hey man i just really don't trust email i just really don't trust email i hope it gets there
What are you talking about? You really don't trust me? Like, I don't know, dude, email could go to zero tomorrow. No, it can't. It's, it's a thing. It's a protocol. Like I've been really struggling with that recently where I'm like, this, it's not an emotional thing. You know, it's not like a, I guess I'll wait. It's like, it literally is a system of rules that computers follow in order to achieve a certain outcome.
You know, the internet allows computers to connect.
Bluetooth allows computers to connect over the airwaves, right?
Email is not the same as the internet That was interesting for me as well Email is a separate network from the internet And they all have their own networks there Anyways I like guys Really it is
Yeah, yeah.
Email doesn't go through the internet.
The internet is a protocol.
Email is a protocol.
Now, maybe they use, maybe it does go across the internet.
It's more like web traffic is one form of, you know,
and then email traffic is another.
I'm not sure.
But the internet, you know,
that connectivity is a protocol.
Email is a protocol.
Bluetooth is a protocol.
Bitcoin, same thing, dude.
And to your point, because you use the word standard,
there's something standard about it that we can rely on.
But I'm wondering, too, do you feel like the system is unfair, right?
So when I think about someone like you having to work hard to make money, to continue to stay alive and make money, right?
And we're all in that space, but you're just getting started with that.
You know what I mean?
And you're thinking like, hey, I got $3,000 in a bank account and they're going to charge you $100 to take care of that for you.
you might as well put it in cash underneath your mattress at that point because you wouldn't lose
a hundred dollars. They're only going to give you three dollars maybe max, you know, in interest for
that while they're making a bunch more. You know, all the time that we're spending trying to make
money, there's like this unfair system that's like eroding it away from us, either through fees and
taxes or inflating it so it doesn't even buy as much anymore like do you at your young age
sense that things are not fair yeah like it's like it's i see inflation i see inflation it's
just like going up every year and there's no way to stop it so i'm just okay i go out with family
I go by myself just to get a regular meal.
It's like 18 bucks.
I'm just like, okay, what happened here?
And then I go to Walmart or any store to get like a bunch of food just for five items.
It's now a hundred bucks.
And I was like, okay, like how is this fair when back in the day, like my grandparents,
they can buy the stuff that I need 10 times more.
I'm just like, how is this fair for, especially for people our age, like getting into it?
And especially like I see my little brother, he wants to spend this amount of money, this amount of money.
And he's like, but I work hard for this just to get just a portion of what I want.
Like, how is that fair?
And that's what I see with younger generations as well.
It's just like, they're going to suffer a little bit more than us.
we're still okay but how's it going to be with their inflation yeah and it's just like a bottle
of water may cost like ten dollars right now it's like two dollars in the gas station maybe three
and it's just like are they prepared can we transition into that bitcoin standard
um so my kids or their kids won't suffer as much
I do think that a bottle of water will be $10 like pretty soon, actually.
Yeah. I mean, if it was a nickel when my uncle was a kid and like if a bottle of Coke was like a,
it was a dime, but you got five cents back when you turned the glass bottle back in.
So it's five cents.
So nice. Yeah.
You know, just people probably would have been, if you're like, hey, guess what?
You know, in 50 years, it's going to be $5 for this.
They would be like, are you insane?
Why?
It's totally going to be $10, you know, $20.
It is like $18 to get a burger and fry for just me these days.
Like, what is happening here?
I mean, we went to Five Guys on Friday,
and it was like $28.
And I think we both got water.
We did get water, and we split a fry.
Yeah, and I didn't even get the real burger that has two patties.
I got the small one.
Yeah, I know.
Yeah, yeah.
So I got the one patty.
Yeah.
And you got a one patty.
And we split a fry and no drinks.
And it was 28 bucks, dude.
It was wild.
Yeah.
Like, even my brother, I think it was a Sunday.
We wanted to go to a burger place over here in Raleigh.
And one of my friends, he was like, yeah, like three burgers.
Just for three burgers, like 55 bucks.
What in the…
What burger place did you go to?
Was it like a sit-down place with a waitress?
I have no idea.
Sit down may help you.
I think it's called Shake Shack.
I think we wanted to.
Shake Shack?
What are you talking about?
I don't know if it's that.
Burger Fie?
That's a, that one is good.
Is it?
Yeah, I like Burger Fie.
I love burgers.
Like, it's my all-time, like.
I do too.
Trump meal.
If somebody is like.
Your all-time Donald Trump meal?
No, Trump.
Like, it trumps everything.
That's a word before his last name.
Just making sure, guys.
But anyway, like if anybody is like, oh, man, I don't like if you say it, we have to have it.
Like it is. I love burgers. It will always hit the spot.
There's never a time where I'm like, don't want a cheeseburger.
Same here. And my dad's the same way.
But to your point, Sam, if I'm a, you know, when I think about the cost of eating out being too high,
then my next thought is okay
I need to eat more meals at home
so to eat more meals at home
I need to go to the grocery store
I go to the grocery store I'm like yo
this is all so expensive
you know I have a wife and two kids
and
easily $400 a week
to feed the four of us
out of the grocery store
like not even anything
extravagant just like you know
yogurt breakfasts
your standard elementary school lunches and, you know, basic American dinners.
I'm like, dog, it's like $1,600 a month, you know, we're spending like 15 to $18,000 on food.
And then, and then, and then we do have a moment where I do, we just don't want to cook tonight.
Let's go eat out.
We go eat out 60 to $80 for some regular old food for the four of us.
While some portion of that $400 is going bad in the fridge.
I'm like, this is a mess. This is a mess. You know what I mean? And what is, you know, it's very easy to, to feel like, okay, well, I just got to outwork this, you know, rising cost or, or start gambling on something that turns out to be a scam or fully go to the casino or pull out your smartphone and say, Hey, if these guys win tonight,
and this specific player passes to that specific player
who then makes this specific shot, I should be okay.
It's like, dude, that's not sustainable.
So Bitcoin is a solution.
What do you not understand about Bitcoin?
So one thing I do not understand,
I know that especially when we go out, we get taxed.
Everything is taxed.
And one thing is just like that it's not stopping me fully,
which I want to get more of an understanding of it is do they tax Bitcoin?
And if they do, how do they do it?
All right.
So good question.
And you are right.
I saw a short summer where this girl was trying to understand taxation.
And it was like, it was enough to enrage you.
She was like, okay, somebody pays me.
for like something I've sold to them,
they're paying me with money that they got taxed on.
And then they're paying a sales tax to buy the thing for me.
And then since I've earned that money from them,
I'm paying a tax on it being a part of my income.
And then I go buy something with it and I get taxed for having purchased.
And it's like, how do any of us have any money, quite frankly?
If every single one of us is being taxed at every single stage,
when we,
when we earn it,
it's taxed.
When we buy something with it,
it's taxed.
If we own something,
we need to pay a tax on that in the form of some more money.
Anyways,
that's enough to be like,
dude,
what?
And they can just print the money,
by the way.
Yeah.
Why are you even taxing us?
Well,
it's so that they don't have to print as much.
You know what I mean?
if they can collect some print a little bit and get it back out there,
then you're, you're, you don't turn into Zimbabwe dollars overnight.
It just turned.
That is true. That's helpful.
Anyways, Bitcoin right now is treated basically like an asset,
you know, like a stock or a house or some land.
If you, if you buy it, nothing happens there.
it's only when you sell it
that you need to
somehow
pay the government
in exchange
for either making
or losing money on it
I really don't understand
why we needed
but apparently
if you buy an asset
in this country
and then it appreciates
that's a bummer for you
for some reason
when you sell it
you have to give a portion
to the government
why?
unless you're going
it's going into
a like asset
so if you sell your house
okay
and then you like make money on your house,
make money on your house,
you can then invest it in another house
because it's the same.
Like, but it's not if you sell your house
and you make money on your house
and you buy Bitcoin with that,
you still have to pay capital gains.
And I don't think there's any laws
that like allows you to go from big,
I don't think you can go from Bitcoin
to like a digital asset and not pay taxes, I think.
Correct.
So you do need to be prepared.
I asked questions.
Like, if you bought $100 worth of Bitcoin and it went to $200 worth of Bitcoin and you sold all of that, then you've gained $100.
And you would need to pay 20% or 25% on the $100 of those gains.
So if you bought $100 worth of Bitcoin, it went to $200, and you wanted to liquidate that or sell that off, then you would walk away with $175.
But here's my question.
If I had $1,000 and I was able to put it into Bitcoin and it doubles to $2,000 and then I need it and I walk away with $1,750, I'm not that mad.
Because if I had put the $1,000 in the savings account, they would have said, okay, well, we're going to give you 0.1%, which is, I mean, 10% is 100.
1% is 10.
So 0.1 is like $1.
Yeah.
Like here's $1,001.
Also, we charge you $100.
Yeah.
To hang on.
To hold it, yeah.
So I'm like, look, I don't, I don't have, I'm not, I'm not at a level where I can be
rich person mode, buying more than one home to like rent out to other people or buy a
bunch of company stock.
And like, I don't, I don't, I don't have any assets, you know, Bitcoin is my asset.
And if it can go up that much, if I really needed to sell it, then the capital gains is only on money I would not have been able to make anyways.
So if that's the best I can do, I'll take it.
Okay, so what about when you buy something with Bitcoin?
I mean, we've had...
Isn't that sort of where the fog is with Yana?
Definitely.
I mean, we've had accountants come on the show and the picture they paint is ultra complicated.
Where if you buy something with Bitcoin, somehow that becomes a taxable event because I don't even know why.
Because it leaves your wallet.
Yeah, which doesn't make any sense because people routinely send Bitcoin out of their wallet to another wallet of their own.
So it like that can be a taxable event And I think they trying to pass laws maybe that would basically eliminate capital gains on like smaller purchases Like you know if you sold worth of Bitcoin to buy something with
cash, maybe you wouldn't have to pay taxes on that. But we've also had Bitcoiners come on the
show and say, look, man, if I have Bitcoin and I want something from you and I send you the Bitcoin
directly, I haven't sold any Bitcoin. I haven't sold any Bitcoin. I haven't exchanged it for any
dollars. So where's the taxable event? It's nowhere, right? I mean, that's how I feel as well.
I could be totally wrong, but it seems to me like, it's almost like if I had a hundred dollars
in my hand and I handed it to you, the government does not see that. The government cannot
tax that i'm literally handing you some money why would that get taxed if i send you bitcoin
directly what do you want me to do log that down and say hey these specific satoshis i bought at
this specific time and now when i sent them to sam the new price is this and so it's almost as if
the difference is this much and now i know that's the part that i have a hard time with like it's not
can you track when because once you buy sats and they're in your wallet you buy more sats
they're in your wallet it sort of all gets jumbled up together right not really because
remember each transaction is like a custom gold coin in your wallet when you send those sats
how do you know which one it's going to pull from?
That's a very good question.
Is it going to pull from the sats that I bought at 110
or that I bought at 65?
Right, right, right, right.
Technically, there's probably a way to say,
hey, I used this entire unspent transaction
plus a piece of this unspent transaction
and I bought this unspent transaction at this rate.
But dude, come on.
That is so complicated.
If I sell my Bitcoin for cash, like if I send it to Bitcoin, well, hey, here's my Bitcoin.
Give me some cash back.
Totally.
That makes sense.
Here we go.
That's the buying and selling of an asset.
But if we're moving Bitcoin around on a Bitcoin network, like I don't see how anyone can effectively track and tax that.
And I don't even think anything taxable is happening.
You know, maybe the politicians or the accountants disagree, but that would be kind of a moment where it's like, look, I'm doing my level best as an individual citizen to accurately describe to you how much I've earned or gained this year inside the structure you're providing to me in the form of roads and, you know, defense and what other services, whatever.
here's me doing my level best like if you needed to go even more wild than that like you got to
tell me what that is and how to track it like because because even when yana came on she was
like the government doesn't even the government can't even go much further past hey did you sell
it at a profit or at a loss like if the government even attempted to get anywhere close to let's
inspect what happens on inside the net soon as as soon as you exit the network that's really easy to
be like okay but all this junk inside here yeah you know i'm i'm comfortable doing my best there
and then if they if they come to me and say hey we got to go even further than that okay boss
how much time how much time do i get you know to to try to rebuild all this because because we send
satoshis all the time but they're flying around over here flying around and that's what i love
about it like especially how you explain it it's like um bitcoin it's mostly run by the community
not by the government and that's something that like again i see how the government is i'm just
okay if they can do this to other people when is it going to catch to me it feel it feels really
hard to like get a kernel of momentum and success going that you can build on top of you know
and also like I feel like um for the longest time uh I would spend money because uh there's a saying
it's called if you spend money you make money or something like that and there was a time that
like I did heavily rely on that I'm like it would invest in itself it did not it collected dust
and the only investment I would say I did really good was my car because I travel a lot and so yeah
That's the only thing I would say.
Good investment.
Yeah.
But hopefully, once I start investing in Bitcoin, that's another good investment.
Yeah.
So, AB, what can you describe to Sam as far as what's going to happen to him the moment he becomes a Bitcoiner?
You're going to refresh the Clark Moody dashboard.
Okay.
A lot.
Meaning you're going to start checking the price a bunch.
You're going to check the price a lot.
A bunch.
Yes.
Yeah.
It's going to be on your phone.
Yeah.
It's going to be on a browser tab.
They don't have an app, but I have made a phone app.
So I can just click the button.
Yeah.
Instead of having to open my browser and find it.
I found a way.
Dang.
Yeah, that's right.
That's right.
It is not.
It is in a folder.
Okay.
It's in a folder on my phone.
Yeah.
And it goes straight.
Correct.
Yeah.
So I feel I felt pretty good about that one.
Yeah.
I will also say, I think, so we've had a lot of guests talk about, like, talk to me about the price in five years.
I found that to be more encouraging than any of the whole, like, in 10 years, this.
Because I, like, I can take a five-year.
Like, five years feels like it's a little further away.
It's not tomorrow.
It's not next year.
But 10 years just feels so long.
and I want to feel like there's progress in mine,
like in the Bitcoin that I've purchased
and the decisions that I've made today,
that'll show up in five years.
And so like I'm holding to five years.
Gotcha.
And I do think so because of Rajat's spreadsheet,
which again, you'll play with that a lot.
I have played with it just a little bit.
I'm like, oh, yeah.
I played with it.
Yeah.
Okay, so what did you,
what kind of like future did you build for yourself
in this Rajat spreadsheet?
I'm not going to lie.
I don't remember.
I just started pressing numbers.
Okay.
It was so fun, like, seeing the money change.
If it's, like, 80%, 40%, or anything like that.
80 is Stewart's favorite.
I like to go with 50%.
Okay.
Yeah, yeah, yeah.
I feel like that's reasonable.
I mean, I just saw, I was just showing AB before he started recording here.
Robin Sayre, who has his own podcast.
He also does the Micro C that we've talked about a little bit.
he shared like a little graphic on Twitter that said,
um,
Bitcoin has been declared dead 432 times over the course of its 16 or 17 year
history.
And if you bought a hundred dollars of Bitcoin,
each time it was declared dead.
So like $43,200 total investment,
you have 65 million bucks.
Dude.
I mean,
now personally,
I don't have,
I don't have $43,200 to invest in,
Bitcoin, but I do have $50 a week. This is $432, $100 purchases, $65 million. Come on.
I know.
Come on.
I know.
If you're 20, you know, what do you, you have 17 years to buy $100 worth of Bitcoin each time
it's declared dead. You know, like you, what I'm most excited about for you is that you're young.
Yeah.
I mean, the rest of us are dead.
I did not.
I did not start buying Bitcoin until I was 38.
Right.
You know?
Also, we didn't have the opportunity to buy it.
Right.
Really.
I mean, technically, I could have started buying when it came out in 2009 and I would have been 24 years old.
So I'm 40.
I could have been buying Bitcoin this whole time.
But I think.
But that was.
Okay.
So that goes to what I was talking to you about the other day.
I was like,
it totally makes sense that like dudes are into Bitcoin and a majority of
Bitcoin owners are dudes because the way that you bought it was kind of
sketchy.
I mean,
like,
I don't know,
like a female that's going to go into a back alley and be like,
let me have that.
Let me,
let me,
let me hold that USB stick.
Right.
Out of that white van.
Right.
And so there's gotta be like,
I think it's,
it is a lot safer to buy now.
It's a lot easier to buy now.
And companies are constantly coming up with ways
to reduce the friction.
And so, like, I think it's interesting to hear
about some of the people that we've had on the show
tell their story about how they bought Bitcoin.
I don't know.
And when it was lived on a computer.
And like, that just feels, that's a wild world.
Like, I'm like, how did you take that risk?
Like, why would you,
like that doesn't even really make sense to me.
And so the people who had the vision so early,
like impressive.
Yeah, you either had to like geek out on computers
to mine it yourself.
Yeah.
Or you had to like be so interested
that you would go do an in-person deal, you know?
The CEO of Bitcoin Well, number 103 Adam,
he talked about like he would meet people
at like the McDonald's.
and like okay here you they would like give him a hundred dollar canadian bill and then he would
like send them the bitcoin on his phone or whatever or where and then they would they
would confirm that it showed up he's like all right thanks brother like yeah yeah i i would
100 never do that like i wouldn't do that now let alone when i was like late teens early 20s
No.
Would you buy Bitcoin if you had to kind of do it that way?
Absolutely.
You would get it.
Absolutely.
If I'm robbed, I'm robbed.
But yeah.
Go for it.
All right.
Now, we're going to move into the final stages of the episode here, Sam.
But do we want to take a minute to talk to your padres?
Yes.
All right.
Oh, okay.
Okay.
Hmm.
Por los padres de Sam.
Dinero, dinero, dinero.
Hoy en día, dinero es papel, pero en los siglos anteriores, dinero era oro, ¿no?
Y había un momentito cuando dinero cambia.
Un día es oro y ahora es papel.
En el futuro está en el Internet.
Es una transformación.
Oro, papel, el Internet.
Y tus padres necesitan tomar el tiempo para ver que el futuro está pasando hoy.
Tenemos el internet, tenemos email, podemos llamar de México aquí o a Inglaterra.
So, we need to explore Bitcoin a little bit.
If you have 50% of your money in effect and 50% in the bank,
we need to change 1 of your money in the bank to Bitcoin and 1 of your money in Entonces tienes 2 de dinero en Bitcoin 2 de Bitcoin 48 efectivo 48 en el banco
Y podemos ver día por día
qué pasa con el dinero cuando es Bitcoin,
qué pasa con el dinero cuando es efectivo en mi casa,
sobre,
en mi cama,
y qué pasa con el dinero en el banco.
Y tus padres van a ver que
el dinero que es Bitcoin
va a ser el mejor dinero.
Porque el efectivo no hace nada.
El dinero en el banco,
su dinero en el banco gana dinero por el banco.
Y no por ellos.
Pero dinero en Bitcoin,
eso va a...
Ellos van a ser capables de comprar más
con el dinero que es Bitcoin.
Después de un año, tres años, cinco años.
Entonces, creo que si dices,
ustedes necesitan
explorar
Bitcoin un poquito
ellos no necesitan
laser eyes como yo
para empezar
solo necesitan un poquito
como 2%
10 dólares
cada mes
es suficiente
what do you think about that?
perfect
not bad, little rusty
pero no es bad, ¿no?
Y lo que estamos diciendo es
Yo seguí a tiny bit
Ana Bevin taught Spanish
¿Qué es lo que?
Que es un buen statement
She did
Pero no es tan grande at it currently
Y yo me lo que todo
En España, past tense
Todo eso, crushes it
¿Qué es lo que todo?
Hoy el más que puedo
Es que yo tengo
Vocabulary, nouns
Conjugando en verbes
Yo me lo que
I need way more time
Doing this
Ultimately what I said was
Money wasn't always sheets of paper
It was gold
Now it's on the internet
I'm going to put some translation box right there
Oh that'll be nice
And make sure
Every time I don't say something correctly
Just blast me for it
Translate it literally
To where I sound like an absolute caveman
That would be good
Money
Yeah, it's like back in the day, money is changing right now.
Like just all the tenses are messed up.
But, you know, money has changed over time and it's changing again.
And they don't need to try it out a bunch.
They should just try it out a little bit.
Yeah.
You know what I mean?
Everybody should just try it out a little bit.
Try it out just a tiny little bit.
Yeah.
For goodness sakes.
Yeah.
All right, Sam.
Well, we, you know, we always say that there is more to Bitcoin
than we will ever be able to fit into a single chat about sats.
So we do ask each of our guests
if they'd be willing to come back on in nine months
to give us an update on their Bitcoin baby.
Would you be willing to do that for us?
Absolutely.
Let's go.
Okay.
So now we're going to...
This is crazy.
First time tasting hummus of any sort.
Yeah, this is...
Sam didn't have...
Like doesn't have any Bitcoin
until he has a decision later today
in this episode.
And he has never had hummus.
So this is just a very exciting time for all of us.
Oh, no, did it crack?
It's all good.
Look, Hollywood magic.
Wow, you fixed it.
Hollywood magic.
All right, so we are going to taste, this is Sam's first.
Yeah, go, yeah.
Fat glob.
Get in there.
We're going to taste the.
You're doing some pretty good globs recently, too, on your little half.
Thanks, thanks.
It's about the crocker, not the glob.
We're tasting the classic, which is Stuart's favorite.
That's my favorite.
All right.
Ready?
Cheers.
Wow
Oh man, I love the classic
It's really good
Oh my gosh, the lemon is lemony
It's really feeling the lemon
Little pucker face
Yeah, I kind of feel like a little tingle that happens
So you have a little tingle
Yum
Alright, Sam
I love it
It's really good
I feel like they should sell it in Mexican restaurants
For me it tastes like
Like just the chip that they have
Some Mexican restaurant has like
Prepared with lime and salt
So I get that taste of flavor
It's really good
The black bean really tastes like a Tex-Mex restaurant to me
Oh yeah
That one really kind of like
encapsulates the Tex-Mex
moment.
And where can I find Ithaca Hummus?
You can go to IthacaHummus.com
but basically any grocery store around here.
Yeah, here in Raleigh, Wegmans,
probably Harris Teeter.
Basically everybody but Trader Joe's.
Yeah, TJ.
I mean, we love you for a lot of other reasons, but you don't
carry Ithaca. Let me give you the Miss J
let me give you the Miss J look where he's like
does that look?
What is that?
Miss J from America's Next Top Model
Oh
I'm sorry
He's like girl
Like that
I'm going to give Trader Joe's Miss J look
Alright
At the end of the documentary
I still haven't seen it yet
Turns out he had a stroke
And like the only person that hadn't visited him yet
Is Tyra
And like
And the documentary ends with him being like
He does that to her
I was like, dang.
Miss J gives her that disapproving,
like, no you didn't, girl, look.
I'm actually into that whole thing again.
Yeah, yeah, yeah.
We'll be revisiting that.
So anywhere but TJs.
Yeah.
Alright, so, oh, and we've got,
I've got a pack of cards to give them to.
Yeah, go ahead, yeah.
Alright, number 83, Aladdin,
is behind these.
That will create some collectible
kind of moments for you
teach you about Bitcoin
it's dope
and I was talking to
I told Aladdin
about my idea
of taking one of these cards and trading it all the way up to
a Bitcoin
well actually a one out of one card
is the best card you can get in his area
so trading it up to the
taking one of these, there's a million of these
trading it up to one of the cards
so there was only one and he was like
that is a hot idea
He really liked it.
He's coming back for his Bitcoin baby soon.
Oh, nice. We'll have to talk about it then.
Yeah, definitely. I think that would be great.
Okay, so we have now come to the cash
versus sats decision.
Power
by
salt.
You're so slow. I was waiting for you. Power by
salt and our own... I was just looking at the amount of
Satoshi's like, golly, bro.
We're going to get it down.
Powered by Salt and our very own 123 Sean.
Shout out.
So, at Sat Chats, we believe in value for value.
And in exchange for your time and coming on our show,
we would like to give you your choice between $50 in fiat
or $50 in Bitcoin, which at today's exchange rate is
78,296 satoshis.
This is so crazy, dude.
What would you like to choose?
Of course, I'm going to pick the satoshis.
Of course, of course.
All right, all right.
Let's go
Perfect
Pick the Satoshis
That is a mighty fine amount of Satoshis
That's a lovely amount
That's like you're within spitting distance
Of six figures worth of Satoshis
Let's go
And just so I can remind everybody
Because I haven't said this in a while
If you divide 21 million Bitcoin
By 8 billion people on Earth
Then your fair share of this network
Is 250,000 Satoshis
Oh wow
Si vive en un futuro world
donde sabemos all folgos
en este valor network
ya
tendrías.
You would have set up
si hubiera
una ruta
de un capullero
de un millió mans.
Wenn you account
for la Satoshi Coins
que no creo
no va a entrar
anytime soon
when you account
para some de la vidente
especially que la vida
de 200,000 Satoshi
es su fair share.
So,
you're a third
of the way there, man.
Come on.
That's awesome.
And so,
then think about
becoming a satillionaire.
Hey,
now I have 4x
my fair share
of the network.
Could you imagine
having 4x
the amount of money
that you would need
to, like,
be you?
Yeah.
You know what I mean?
Like,
if you could say,
here's how much Sam costs,
and then at any point in time
you have 4x
the amount
that you cost,
I mean,
I would feel
so much more secure
if I had 4x
lo que es costo a ser me.
I would be like
way less canker sores
in the mouth,
way less gray hairs
appearing in the head
and the beard,
although I think
it looks good to get old.
Yeah, that's nice.
The mighty oak tree
is much more handsome
than the sapling.
Noted.
Right?
Yeah, sure.
Trees look better
when they get old.
I mean, I think so.
I don't think we can make
that parallel to humans,
pero sí, sí, sí, sí.
Funnily enough, en Old Norse kenning
en la poeta, for a man es tree.
Cuando se trata de esta vie en Old Norse
poetry, se trata de un hombre.
¿Qué dicen para una mujer?
La misma cosa.
Men y mujeres, I mean, technically
Odin made
man y mujer from dos
old trees que se desvazen en el sur.
Bueno, que es exciting.
Carved out of wood, folks.
You got your hummus,
you got your pack of cards,
you got your squillian satoshis.
Oh gosh, so many.
Where can our folks go here
if they want to spend more time
with our very own
daily flagship editor,
number 180 Sam?
Well, I also make YouTube.
I haven't done it in a while.
It's Samuel Cruz Serrano.
It's mostly covers that I do
when I play The Electric.
I do have a podcast
that I haven't done in a year yet.
It was mostly talking to
uh what was it jeez i haven't done it in a while it was mostly talking to professions
basically getting inside their heads asking difficult questions to them because i feel like
uh not a lot of people talk about it and some people just like fresh out of 18 fresh out of
high school they just go into the workforce and sometimes they don't know what they're getting
into. So just asking
those questions to
professionals, basically. Oh, okay.
And that one's called SS Podcast.
So, yeah.
Nice. That's good. Yeah.
So Sam will link that in the show notes
for himself.
Since he puts together the show notes,
Sam will be sure to put Sam's information
in the show notes. Absolutely. Let's
go. Alright? Let him know, dude.
Oh, that is fantastic. Alright,
Abes. Alright, Satillionaires, if you
have enjoyed today's
multilingual
episode.
Click the subscribe button.
Your chance to win this silver coin
that Stuart is acting as Vanna White.
It has Satoshi on one side
and a QR code for 50,000 stats
on the other side thanks to
CryptoLink Coins.
And Rob.
Number 100 and...
60 or 170
or something.
I think he's 190.
We'll put it down there.
It'll be below.
No, he can't be 190 because Sam is 180.
Oh, episode 190.
Yeah, yeah, maybe.
All right.
However, you will get this coin
or you'll be entered into this coin
when we head to 3,000 subscribers.
So click the subscribe.
And if you'd like to find out more ways
that you can support this show,
you can do so in our show notes.
Either come on the show as a guest
or you can sponsor.
So we like both of those options.
And Sat Chats is for educational purposes only
y no se construyó como financiación.
Y a las redes sociales.
Y hasta la próxima.
¡Suscríbete al canal!
¡Bye!
¡Suscríbete al canal!