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The world of Bitcoin news has collapsed into a hyper clickbait carnival.

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Open mouth thumbnails.

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TikTok macro with Ghibli Field M2 charts.

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It takes so bad you think they came from Mike Alfred or Gary Cardone.

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Meanwhile, voices of signal are being buried under a rhizoswap engineered to deliver the

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idiocracy prophecy right on schedule.

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The pioneers are sitting on the sidelines, watching the plebs slurp down nothing burger announcements and watering their plants with Gatorade.

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Feeling isolated, exhausted, invisible, calloused from worn down demoralizing UX, even the proudest pioneers are finding themselves second guessing their game theory.

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Group chats consumed by pioneer sanity checks are becoming reluctant aggregators of screeds from uninspired grifters.

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After fearing the worst, fearing that this might be a simple spoofing attack, the intellectual silk road has begun preparing.

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Our guest today is the antithesis to the TikTok macro tether friendly pleb slot.

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For years, he has delivered some of the highest signal Bitcoin content you can actually find on his podcast, Bitcoin Ant.

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His name, it's none of your business.

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He doesn't rely on CIA spam.

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He's a pioneer's pioneer.

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His podcast covers Bitcoin, Noster, agriculture, and doing the real work of building lasting value

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anchored by a sense of self-respect that even Tylenol, Max, and Broccoli haircuts can't generate with AI.

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Bitcoin and doesn't make you feel gaslit, patronized, or grumpy.

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It makes you hold your chest out, lift your head higher, and move with, dare I say, a flicker of purpose.

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He doesn't go to the studio to influence, but to inform.

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and just having dropped his 1175th episode joining us today is the one and only david bennett

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david how are you doing tonight well i'm just fine richard so you just hit your 1175th episode

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you've been running for coming up on eight years straight you're one of the longest running bitcoin

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podcasters right now i think yeah yeah i i i do believe that that's true i've been doing this for

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since 2018 somewhere in the neighborhood of september october somewhere around there

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and yeah uh 1175 episodes as of today that's that's a lot of me jawboning

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into a microphone i'll say that well i really appreciate all your hard work

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over these years is a long time podcast listener of yours

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bitcoin wouldn't be the place where it is today if it wasn't for podcasters like you

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there's been a lot of grief in a podcasters but you truly are the the pioneers podcaster

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in a lot of ways. You're a pioneer's pioneer.

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Well, I appreciate that too.

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The whole reason that I started the podcast in the first place was

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there's too much news that was going by.

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There was way too many changes coming on in the space.

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And the space included...

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And it's, I mean, everything about Bitcoin is everything that I sort of was when I was in college.

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And what I mean by that is interdisciplinary.

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And if you're, if you don't have an interdisciplinary mindset, this space will drive you through the roof.

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It'll, it'll, it just, there's too much stuff.

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There's computer stuff.

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There's cypherpunk stuff.

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There's macroeconomics.

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There's economics.

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There's history.

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There's the thoughts.

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like the people that talk about, um, like one of my pet peeves is new home, new home builds.

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They all suck. And when you, when you're just looking at that as without any other knowledge,

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other than the fact that some, some houses that you see, you know, they're built well,

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you can just feel it in your bones. Other houses you see, you know, they're built like shit and

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one good puff from a fucking big bad wolf is going to blow it right over.

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But if that's all you're looking at, then you don't know why.

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And it comes back down to that the money got broke.

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So when you're looking at Bitcoin, you're looking at coding, and you're looking at economics,

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and you're looking at all this stuff.

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And all of these sectors have news that goes with it.

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and nobody, I could not find any podcast that would just sit down and read me the daily news.

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So I had to become the person that I didn't want to actually be. I had to sit down,

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go through the news. I'll like, I'll wake up in the morning. First thing I do get coffee,

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sit my happy ass down and start looking at what's bullshit and what's not bullshit,

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and then compile a list and then cold read them on the podcast pretty much an hour or two hours

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later after I've set up the show. I've gotten good at cold reads. That's for certain, but I,

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you know, I'm always going to be struggling with all this stuff that I still don't know. Like

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the math behind the the you know the long tail of bond yields and then trying to suss out what the

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hell michael saylor doing with perpetual debt instrumentation i would have never even been able

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to string those words together in a sentence 15 years ago and and now it's like all of us are like

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way ahead of our time

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and what we thought we would know about economics,

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computer code,

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how asymmetric...

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What the hell am I trying to...

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What is this?

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SHA-256.

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That entire realm of math.

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Do what?

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Asymmetric algebra?

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Like asymmetric compliant or cryptography?

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Yes, thank you.

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Cryptography.

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I mean, it's like you get into this thing and all of a sudden you see all these worlds that are just flashing by you.

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And it's hard to keep up.

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And that's what I wanted.

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I wanted to keep up, but I didn't want to sit down and actually go through all the news and figure out what was crap and what wasn't.

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But that didn't exist.

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I had to do it.

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So I got to do the exact thing that I didn't ever really want to do.

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And I've been doing it for 2018.

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you became a journalist you me you you were there was no podcast journalism

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and when you docked when you needed it when you were looking for that because you talk about

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because so i think this is kind of analogous to uh martial arts because for most of human history

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and really until the early 90s it was you had the kung fu fighters and you had the judo

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in this part of the world and you had the jiu-jitsu practitioners and you had karate and you had

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kung fu and you had wrestling in iowa um and everybody they thought each other they they

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train with each other they but you know their community was very kite it was isolated and that

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was like similar to bitcoin podcasters you had people who were talking about privacy or they were

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talking about the site for punk's history where they're talking about the c++ and the game figure

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and the protocol changes where they were talking about you know macroeconomics price predictions

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but these like there was not enough the the network wasn't big enough so these macro podcasters were

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not crossing paths with the octech podcasters the entropy was there was too much entropy there was

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there was no uh synergy um and they they started to come and the network got bigger and bigger and

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Now it's like all this big, giant industry where you could have a philosopher talking to a hacker on the same podcast two different times in the week.

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You have all this happening.

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How did you get Signal outside of your narrow focus of your podcast to kind of build upon what you were talking about and gain legitimacy?

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I, in the early days, I was glued to Bitcoin Twitter like everybody else was, and where many people still are.

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Because as these stories, you know, as the stories that I find in, that I'm bringing to the podcast, there are a whole host of people that are talking about those same stories.

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that add layers of context and as i go through the stories that i'm reading i'm also picking up

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context from the people that are also looking at some of these at not these particular stories but

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the content like you know like when uh michael saylor announced you know perpetual

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the the perpetual dead instrumentation stuff you're picking up signals from you know 10 15

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25 different people that you've come to respect and you're synthesizing all that information along

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with what you think about it along with what's being written about it and that's sort of that's

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sort of the way that I structure the show. And I, it's not like I'm, it will be the case that every

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once in a while I'll reach out, I'll go grab a tweet and I'll read the tweet directly because

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it's like really impactful to a story that I'm reading, but I don't actually do that all that

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often. It's just sort of this amorphous mass that just kind of appears as I'm setting up the show.

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And I'll, sometimes I'll start setting up the show the night before, if something like really

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heavy's about to drop and then I'll start looking at what people are saying

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about it and then I'll start looking at the news stories about it and then pick

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out you know a new story that's that's not gonna waste anybody's time or at

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least I try there there are times I pick up a story that just crap and it happens I mean I do it five times a week They not all going to be good So but that the signal that I I collecting up comes from

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a lot of different places. And I've, I've, I've gotten, I don't know, kind of good at being a

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synthesizer for that to kind of boil away all the water so that you're just left with this nice

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delicious beef stock right being able to use multiple sources and synthesize information and

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and have the intuition to be able to decipher the the signal from the noise i think is a very

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important skill set to have it's continuously going more growing more and more important

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uh so i want to get your take so this week was a big week for announcements

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it's a very big week for announcements donald trump uh issued an executive order naming uh

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september 23rd announcement day in honor of dennis porter american politics will never be

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the same ever again what what are your thoughts on what's transpired this week

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complete and utter bullshit and that a stupe defying failure of respect for one's own

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reputation in a space if i had to boil it down that would be it dennis yeah dennis porter is um

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he has a very resilient

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reputation

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he you know

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for some people this was their first

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announcement but this

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this was not my first Dennis Porter

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announcement I had followed Dennis Porter

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closely AEO and

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we have been covering it and really

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spotlighting Dennis

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at the Bugle since

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the late 2023

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and I encourage anybody to go back

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and look for all the content you'll see what I'm

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talking about but

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all i will say about dennis is we have not listened to him announce his last announcement

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he will be back and he will and he will be announcing more things than ever but i am

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curious to go back to your journey as a podcaster maybe if you know if if we came in later than you

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did maybe around covid maybe we're just we don't remember because we weren't orange boat back then

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but there just seemed like there was way fewer announcements a few years ago.

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And especially before, like, what was it like podcasting and going through,

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like going down the rabbit hole back before there were so many announcements?

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I mean, nowadays you get, we're getting multiple announcements a week.

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Back then it could have been months between announcements.

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But there wasn't months between announcements because we had a gentleman

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by the name of Justin's son.

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And I don't know if you're familiar with the man that is the legend that is the Justin of the sun, but that son of a bitch is the master of the announcement of the announcement of the announcement.

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He had that shit down pat.

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And what really sucks about having Dennis Porter take his place is that Justin's son was much more fun about it.

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He was much more tongue in cheek about it.

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He had a way of making an announcement where you knew he knew it was bullshit.

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And we loved him for it, even though he's a shit coiner.

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Dennis Porter, not so much.

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Because when Justin's son was doing it, it was more of an innocent time back then.

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We were all virgins in the announcement space.

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and people weren't getting paid oodles of cash to have shit tons of followers on Twitter.

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Justin Sun had shit tons of followers on Twitter, still does, and he's probably getting paid now.

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But back in the day, no, no, no, no, no, no, no.

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He wasn't getting paid shit.

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If he was getting paid shit, it was definitely not by Twitter.

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He was shilling his crap and he was getting millions of dollars for it.

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I mean, he's doing okay.

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But at the time, he wasn't doing it the way that we see Bitcoin Twitter personalities that are now doing it.

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And it's kind of grotesque to watch it play out in real time.

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It's sort of like watching somebody gut a deer when you really have a problem watching blood.

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You know, it's just ugly, it's nasty, it's not going to stop.

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But hats off to Justin Sun for being the progenitor of that, which is the Bitcoin announcement.

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You know, I think maybe one of the differences between Justin and Dennis is like, it's one thing to sell out, you know, and do announcements for shit coins and do announcements for like these big crypto conglomerates.

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uh you know it's you know it pays well it's just like ah i wouldn't take it out it's another thing

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to to give your announcements to politicians and like government people and like stable coin

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legislation and so it's you know people one of the things that we all hope is that the announcement

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is bullish no matter what it is we hope the announcement is bullish because we love bullish

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announcements but when when it's not bullish and and it's you know it's wasted on a politician or

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wasted on some kind of like lame government policy it really just debases and and you know

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waters down the value of the announcements um and we used to live and die by the announcements

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yes yes we did and what's interesting about this particular situation

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is that the politician in question, Ian Calderon,

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has 16.6% of the followers that Dennis Porter has.

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I find these numbers staggering.

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And it turns out that Ian Calderon and Dennis Porter

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worked together at Satoshi Action Fund.

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And that's how they know each other.

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and so I got somebody with a quarter million followers shilling a complete unknown in a

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gubernatorial race in the largest state most populous state in the United States California

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he ain't got a hope in hell it's not going to happen and the fact that that he's doing he's just

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doing the I like Bitcoin therefore you should like me it's not going to work this time it's

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just not he's not gonna be he's not gonna even make it make it out of the primaries and but this

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is nothing burger is is like it's a nothing burger filled with it's not even it's it's not even an

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empty bun there's nothing there it it's all it's all smoke and mirrors and bullshit and i don't even

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know what either one of these guys are i mean they know he can't win so what what's really going on

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why the why this announcement why this this this connection between these two people

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something else is brewing under the under the hood of this car

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this is the first politician that dennis porter has ever officially endorsed and this is why

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this could be a game changer with the ability to get this many announcements out about you get your

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name out there ian calderon make you um controversial make you uh tie you to this nothing burger meme

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dennis porter his um his his ways are mysterious sometimes uh and they are

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unconventional to say the least but people do talk about bipartisan bitcoin legislation

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and strategic reserves in large part to dennis announcements so me maybe he and calderon is uh

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you know it's an unconventional political strategy but these are unconventional political times

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i do want to make a correction real quick this is uh at least the second politician that i know of

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that Dennis has endorsed,

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but this is the first politician in a long time.

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And this is the first politician

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since he's passed a bunch of pro Bitcoin legislation.

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So it's, in some ways, it's like a new first,

217
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even though it's not the first.

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It's a new first.

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It's a brand new first.

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Because that other first, fuck that other first.

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Let's get this new first going on.

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maybe this one will be better yeah we'll have to see i mean i think one thing that we all know is

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that californians don't largely listen to 40 hours of bitcoin podcasts a week no they're way too more

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they're way too concerned about the price of gas and the fact that their state has fallen on

225
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hard times i feel bad for them i really do

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what is it i mean maybe you can answer this what is it like to live in you know a relatively

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conservative part of a liberal loony state oh god it's so weird something like you know yeah it's

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like if you live outside los angeles if you live you know in more world parts industrious parts of

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california um you a lot of those people did not sign up for the ride that they've been on you know

230
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And it's just, you know, what's it like being in that where your consensus is controlled by loons?

231
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Well, out here in eastern Washington state, and if you just look at Washington state by itself, it's a loony bin.

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I mean, as a whole, right?

233
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You had legislation was tried to get is still trying to get passed or it may have even been passed where new restaurants can't have gas ovens.

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and gas gas stoves i mean i don't know if you've if if you've ever cooked for a large amount of

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people electric is just it's just not going to do it you need gas there was a literally a war

236
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on natural gas i did a a two out two and a half hour interview with a lawyer for a cattle ranch

237
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out in central Washington that is being railroaded by the two Washington state entities,

238
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their version of the Environmental Protection Agency and something else.

239
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And they've destroyed that ranch.

240
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They may not win, but the amount of money that these people have had to expend

241
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to try to defend themselves against these bogus this bogus litigation is probably going to run a sixth generation ranch uh under

242
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And I see all around me some of the dumbest shit that I've ever seen.

243
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And yet where I live, even though it's a small town, the town itself is just as stupid.

244
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But if I walk or drive my car 10 miles in any direction outside of the city limits, I'm right next to people that I left in West Texas.

245
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Heavy conservative, tired of the bullshit.

246
00:23:52,220 --> 00:23:53,500
Leave me alone.

247
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Stop stealing my crap.

248
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and what you get is these two worlds that it's like oil and water and they keep trying to mix

249
00:24:03,700 --> 00:24:14,460
it doesn't mix it's just this slop right and i like i've driven through you know i hung out in

250
00:24:15,520 --> 00:24:21,940
la when i was a teenager for a little while and i finally got my fill of that crap and

251
00:24:21,940 --> 00:24:27,380
that was a long time ago so it wasn't as bad as it is now and i drove through needles california

252
00:24:27,380 --> 00:24:34,640
and stopped at a diner and everybody is completely different it's a completely different scene so

253
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one of the things that that i think we really do need to back up and and and think about is

254
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when we say things like illinois is a blue state no chicago is blue

255
00:24:48,980 --> 00:24:57,280
if you get outside of Chicago into the farmland you're going to end up talking to the exact same

256
00:24:57,280 --> 00:25:01,700
kind of people that you talk to in west Texas the exact same kind of people that you talk to

257
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in eastern Washington the same exact people that you talk to need talk to in Needles California

258
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they just want to be left alone and so it's it's hard to live in a place that has

259
00:25:14,640 --> 00:25:22,020
these you know two completely different sides and watching them collide with each other all the time

260
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and at one point or another something's going to break loose i just don't know what and i don't know

261
00:25:26,880 --> 00:25:35,260
when yo so we've talked a little bit about the most of the announcements are coming on x and

262
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and these higher level or mainstream social media platforms but no you're on nostr um and we're on

263
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Nostra as well. And one of the things that, you know, I, it's very difficult to kind of describe

264
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what Nostra is in like these other social terms, but one way I think kind of fits is like Nostra

265
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is kind of like the West Texas, the Eastern Washington of, uh, of social media. And it's

266
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like a little slower, a little bit more, um, well, more conservative. It's not quite as crowded and

267
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it just seems like one of the things i'm talking to this isn't really my opinion of people on there

268
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is they kind of they came to nostril because they were sick of twitter being woke and they're worried

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that jack dorsey is going to come out to you know west texas and try to make it woke it's going to

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come and try to make nostril woke do you worry about anything like that ever happening i don't

271
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I don't in any way, shape, or form.

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I don't think – I mean, in reality, if I go back and I start looking at –

273
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if I go back and I – if I were to go and look at Jack Dorsey's Noster profile right now,

274
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he doesn't post a lot.

275
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He posts every once in a while, but he's not all over it like he was at first.

276
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I don't know you know and I'm not going to conjecture why I I would chalk it up to the

277
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fact that the guy's probably busy right he did his bit for king and country when you know he he

278
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you know started talking about it on twitter and he talked about it in uh some print interviews

279
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and I think he did like he's in obviously in a few podcasts he talked about it but I haven't

280
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really seen him like, I don't know, release a, an upgrade to the protocol that says blue hairs come

281
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here. I don't think he gives a shit. I, I, I don't know. I've never met the man, but I, I don't think

282
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he's as, I don't think he's as woke as people think he is. I, I don't know why I say that

283
00:27:51,320 --> 00:27:56,560
considering that I've never really talked to him, but some of the things that I've heard him say

284
00:27:56,560 --> 00:28:05,200
leads me to believe that he just doesn't give that much of a shit about it as as much as the

285
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people that Elon Musk fired out of Twitter because he got I mean that boy came in there and he

286
00:28:11,000 --> 00:28:17,460
cleaned house I'm not a big I'm not the biggest fan of Elon either but what Twitter turned into

287
00:28:17,460 --> 00:28:24,620
was clearly something that was just terrible.

288
00:28:25,020 --> 00:28:30,980
It just got so bad during and then immediately after the COVID thing

289
00:28:30,980 --> 00:28:37,160
that I was almost kind of relieved that they kicked me off Twitter when they did.

290
00:28:38,380 --> 00:28:41,660
And I did try to get back on a couple of times.

291
00:28:41,760 --> 00:28:46,720
I think I burned through five, four, four accounts.

292
00:28:47,460 --> 00:28:51,000
I burned four accounts trying to get back on and I finally gave up.

293
00:28:51,040 --> 00:28:53,140
And that was at, at the exact same time.

294
00:28:53,140 --> 00:28:56,400
That was when Noster first came on my radar.

295
00:28:56,600 --> 00:28:59,260
And that was 2022.

296
00:29:00,560 --> 00:29:06,900
I think I woke up New Year's day, 2022, and my account was gone.

297
00:29:08,200 --> 00:29:15,180
And I had old, like I, like I had tried to get back on a few times, spent that year just

298
00:29:15,180 --> 00:29:23,780
taking a break and then Noster comes on my radar. I get my in pub spun up by one of, or in second,

299
00:29:23,900 --> 00:29:32,400
in pub spun up by one of the earliest Noster clients that there was. And I really, I looked

300
00:29:32,400 --> 00:29:38,680
back a couple of times. I, I do still have an active Twitter account. It's not like it was.

301
00:29:38,680 --> 00:29:43,640
I spend most of my time on Noster, but here's the thing.

302
00:29:45,120 --> 00:29:57,680
Jack Dorsey involved or not, I don't even look at it because if I wake up and I start scanning Twitter first,

303
00:29:58,840 --> 00:30:01,000
I'm almost immediately in a bad mood.

304
00:30:02,140 --> 00:30:02,980
Almost immediately.

305
00:30:03,580 --> 00:30:07,520
If I look at Noster first, I'm completely neutral.

306
00:30:08,680 --> 00:30:19,360
It's a sea change of attitude because you sort of are what you process.

307
00:30:20,280 --> 00:30:26,420
And if you're processing Dennis Porter's Nothing Burger, then you become the Nothing Burger.

308
00:30:26,640 --> 00:30:29,580
We are zen with Dennis Porter and his announcement.

309
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If I go over to an Oscar and I'm seeing people just basically shitposting all over each other.

310
00:30:36,460 --> 00:30:38,880
and every five, you know,

311
00:30:38,980 --> 00:30:40,780
Noster notes is something that's actually

312
00:30:40,780 --> 00:30:42,140
really kind of thought provoking.

313
00:30:42,760 --> 00:30:44,500
I'm not in a bad mood

314
00:30:44,500 --> 00:30:47,960
because I'm waiting for people trying to be funny

315
00:30:47,960 --> 00:30:50,520
and at least one person has got something

316
00:30:50,520 --> 00:30:51,700
really nice to say.

317
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And so I don't care if Jack Dorsey,

318
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Jack Dorsey can try,

319
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he's not going to succeed.

320
00:31:01,020 --> 00:31:04,840
So yeah, so yeah, it's kind of a,

321
00:31:04,840 --> 00:31:13,380
unconventional way to advertise something but it's it's like you know i like nostr because when

322
00:31:13,380 --> 00:31:19,480
i open i'm emotionally neutral i'm not going to get like excited or to get good news i'm not

323
00:31:19,480 --> 00:31:23,560
or you know maybe i am and then i get there and everything is just so awful that it makes me

324
00:31:23,560 --> 00:31:28,000
grumpy um and that seems like that's where like every app you open now it's either you're hoping

325
00:31:28,000 --> 00:31:31,940
for good news but it's probably going to be so awful that it really makes you grumpy and ruins

326
00:31:31,940 --> 00:31:37,140
your day and at least when you open nostril somebody tells you good morning and like you

327
00:31:37,140 --> 00:31:42,840
it's it's it slows down you don't have to have a dopamine immediate reaction you don't have to get

328
00:31:42,840 --> 00:31:52,400
things worked up so i think that's my question would be then or do you have any regrets about

329
00:31:52,400 --> 00:31:59,741
going to nostril only um like for example do you feel like maybe you gave up the opportunity

330
00:31:59,741 --> 00:32:06,100
to become a paper bitcoin bitcoin treasury company podcaster because you were off twitter and you were

331
00:32:06,100 --> 00:32:11,220
only on nostr like is that something that you uh you think about like what could have been like you

332
00:32:11,220 --> 00:32:18,700
could have been like to nakamoto or the uh the one of the big paper bitcoin podcasters well it's

333
00:32:18,700 --> 00:32:26,741
funny we talk about paper bitcoin summer because you know for the longest time even before i started

334
00:32:26,741 --> 00:32:33,920
podcasting in this space and I was listening to, to the earliest of Bitcoin podcasts,

335
00:32:34,260 --> 00:32:39,440
there was a certain, there was a theme that was always present and it was,

336
00:32:39,900 --> 00:32:47,360
it can take you years to build a reputation and it takes you seconds to burn it to the ground.

337
00:32:48,820 --> 00:32:52,700
And so we would always talk about reputations as being made of paper.

338
00:32:52,700 --> 00:32:54,580
and

339
00:32:54,580 --> 00:32:55,460
I

340
00:32:55,460 --> 00:32:58,800
this does not bode well for paper

341
00:32:58,800 --> 00:33:00,660
Bitcoin summer because

342
00:33:00,660 --> 00:33:02,800
there's a lot of people with some heavy duty

343
00:33:02,800 --> 00:33:04,460
reputations in this space

344
00:33:04,460 --> 00:33:06,320
and

345
00:33:06,320 --> 00:33:08,320
it looks like

346
00:33:08,320 --> 00:33:10,720
there's a very real possibility of

347
00:33:10,720 --> 00:33:12,360
a forest fire especially in

348
00:33:12,360 --> 00:33:14,620
this long tail

349
00:33:14,620 --> 00:33:16,780
of Bitcoin

350
00:33:16,780 --> 00:33:17,741
treasury companies

351
00:33:17,741 --> 00:33:20,720
these guys are going to get burnt to the fucking

352
00:33:20,720 --> 00:33:25,180
ground. It's going to be really ugly. And I'm talking about the long tail. I'm talking like

353
00:33:25,180 --> 00:33:33,940
there was another announcement today. They some kind of, Oh, B HODL just bought a hundred Bitcoin

354
00:33:33,940 --> 00:33:39,180
for their Bitcoin treasury strategy bullshit. And I'm like, you're going to go, you're, you're going

355
00:33:39,180 --> 00:33:45,860
to burn to the ground. You're too late. It's all done. The paper Bitcoins it's fall people. First

356
00:33:45,860 --> 00:33:54,020
day of fall was what a couple of days ago it's fall we got it this is this shit's over and if i

357
00:33:54,020 --> 00:34:04,880
had linked my reputation to shilling strike and strife and then yet one more you know double digit

358
00:34:04,880 --> 00:34:12,360
yield account i i wouldn't have the remnant of a of the audience that i actually have now

359
00:34:12,360 --> 00:34:20,460
You know, my audience is small, but it'd be a hell of a lot smaller if I had just said, you know what, you should go buy some strike.

360
00:34:21,080 --> 00:34:23,820
You need that 9.8%.

361
00:34:23,820 --> 00:34:25,620
You need that.

362
00:34:26,340 --> 00:34:28,880
And there's no way that I'm ever going to say that.

363
00:34:29,680 --> 00:34:31,680
I value my sleep too much.

364
00:34:31,680 --> 00:34:45,351
so one of the things that we seeing kind of across the board i sure you aware of this is that the paper Bitcoin companies are gobbling up Bitcoin podcasters like it hungry hungry hippos out there

365
00:34:45,871 --> 00:34:54,271
So you see the possibility of the paper Bitcoin ecosystem getting burnt to a crisp in the future.

366
00:34:54,271 --> 00:35:02,490
in the scenario that that happens i think we and correct me if you don't agree with this but i think

367
00:35:02,490 --> 00:35:08,331
we agree that michael saylor is probably going to be one of the strongest ones in that scenario

368
00:35:08,331 --> 00:35:17,151
uh likely consolidating a lot of this do you see a potential concern of centralization of bitcoin

369
00:35:17,151 --> 00:35:25,111
podcasters in this scenario that Michael Saylor is the last man standing in the whole paper

370
00:35:25,111 --> 00:35:30,711
Bitcoin, I don't know what you call it, trend or phenomenon?

371
00:35:33,851 --> 00:35:35,871
A whole subculture, yeah.

372
00:35:36,530 --> 00:35:45,530
I could almost see Saylor building a paper Bitcoin media company where he sucks all of

373
00:35:45,530 --> 00:35:50,911
us in gives us enough money to where we have no problem burning our reputations right to the

374
00:35:50,911 --> 00:35:55,671
ground and beyond. And then all of a sudden just cutting us loose, like we're just kind of some

375
00:35:55,671 --> 00:36:01,211
kind of dead weight, you know, garbage on, on the fucking love ship out there in the Pacific ocean.

376
00:36:01,211 --> 00:36:05,191
I could actually see that occurring because the man's got to do something.

377
00:36:06,371 --> 00:36:14,911
He's got to do, he, his company generates no revenue unless he's selling debt instrumentation

378
00:36:14,911 --> 00:36:16,611
to Rubes on the street at this point.

379
00:36:17,591 --> 00:36:19,171
He has no revenue.

380
00:36:19,611 --> 00:36:21,010
They don't make software anymore.

381
00:36:22,010 --> 00:36:24,811
I'm pretty sure that Oracle has gobbled up

382
00:36:24,811 --> 00:36:26,951
all of what was remaining of his customers

383
00:36:26,951 --> 00:36:28,951
so he doesn't have service contracts.

384
00:36:29,691 --> 00:36:32,151
The only thing that he's got going on right now

385
00:36:32,151 --> 00:36:34,611
is a revenue model is to sell debt.

386
00:36:35,091 --> 00:36:37,691
And he uses it to buy Bitcoin and good for him.

387
00:36:38,911 --> 00:36:41,811
But Richard, I agree

388
00:36:41,811 --> 00:36:45,931
that he's going to be one of the ones that stand.

389
00:36:46,471 --> 00:36:51,751
And I can bitch about his revenue model all day long and twice on Sunday.

390
00:36:52,171 --> 00:36:53,451
He's not going away.

391
00:36:54,331 --> 00:36:57,871
He's got too much potential that he can leverage.

392
00:36:58,071 --> 00:37:00,231
And one of these days he's going to start leveraging it.

393
00:37:01,611 --> 00:37:11,191
But I still do not believe that attaching your rep,

394
00:37:11,191 --> 00:37:17,971
whether as a podcaster or somebody who writes for, I don't know, Bitcoin magazine, whatever,

395
00:37:18,271 --> 00:37:26,231
attaching your rep to shilling that debt instrumentation and being like some kind of

396
00:37:26,231 --> 00:37:34,811
mouthpiece for Michael Saylor, I don't think is good until at such time that he comes up with a

397
00:37:34,811 --> 00:37:39,530
decent revenue model and the company actually starts making money. And even then it's a dangerous,

398
00:37:39,530 --> 00:37:46,711
it's a dangerous game that we play because i saw you know a few podcasters get burnt to the ground

399
00:37:46,711 --> 00:37:53,371
during the ftx alameda and uh what was that what was that people the people block fi

400
00:37:53,371 --> 00:38:02,191
that that whole mess because there was they had money to burn and were going after podcasters

401
00:38:02,191 --> 00:38:07,571
left and right i wasn't one of them because at the time no you know and nobody still knows really

402
00:38:07,571 --> 00:38:14,131
who I am and not, not at that level. You know, I, nobody ever contacted me and said, Hey, here's a

403
00:38:14,131 --> 00:38:18,550
boatload of money. Why don't you shield our ship for us? And even then I would have actually had to

404
00:38:18,550 --> 00:38:26,191
step back and go, dude, should I do this? Because if this breaks and I'm in the middle of it,

405
00:38:26,971 --> 00:38:34,431
I go down with that ship too. And this is, this is always a problem, you know, cause it's like

406
00:38:34,431 --> 00:38:43,931
you can try to hold your integrity together and basically, you know, be poor. And I've said it on

407
00:38:43,931 --> 00:38:51,530
my podcast before, Bitcoiners had this thing and still have this thing kind of where we say,

408
00:38:51,751 --> 00:38:55,451
have fun staying poor. But the only people that really know how to do that is us.

409
00:38:56,371 --> 00:39:02,731
We're the only people that know how to actually have fun staying poor. We built it as an insult,

410
00:39:02,731 --> 00:39:07,311
but the more I looked at it, the more I was like, well, wait a minute. That's us.

411
00:39:08,331 --> 00:39:13,491
We're the, we're the ones having fun staying poor because we are all the Bitcoiners. I know

412
00:39:13,491 --> 00:39:21,251
are desperately trying to keep from falling into these traps of, wow, that's, that's a lot of money,

413
00:39:21,311 --> 00:39:27,391
man. I don't know. I could do a lot of stuff with that money. All I got to do is, you know,

414
00:39:27,391 --> 00:39:33,411
burn my rep and hope nobody notices it but we don't we don't live in a world where nobody in

415
00:39:33,411 --> 00:39:41,331
this world everybody sees the smoke from you burning your rep to the ground well yeah it's

416
00:39:42,151 --> 00:39:51,231
i think it's incredibly important to have integrity i think it's incredibly important

417
00:39:51,231 --> 00:39:55,731
to work to care about your reputation not not just because you care what other people think

418
00:39:55,731 --> 00:40:00,530
about you but because you care about the world around you and just not being a shithead as a

419
00:40:00,530 --> 00:40:06,631
result of it yeah but we live in a society we live in a culture where people burn their reputations

420
00:40:06,631 --> 00:40:11,251
and they continue to fail upwards and it seems like there's no consequences so there's no

421
00:40:11,251 --> 00:40:19,050
consequences for shilling block five you get a bigger podcast as a result of it you get more

422
00:40:19,050 --> 00:40:23,731
followers as a result of it afterwards people forget about it there's grumpy people on twitter

423
00:40:23,731 --> 00:40:30,191
but you know those people do not uh are not able to hold them accountable platter cannot hold them

424
00:40:30,191 --> 00:40:38,091
accountable um or there's no consequences uh seemingly and in the people that have integrity

425
00:40:38,091 --> 00:40:43,471
are having fun staying poor and the people without integrity are just continuing to

426
00:40:43,471 --> 00:40:49,691
to gather wealth they're getting paid by paper bitcoin companies uh so a lot of people you know

427
00:40:49,691 --> 00:40:55,131
get frustrated because it's almost like there's a negative consequences for having integrity

428
00:40:55,131 --> 00:41:04,530
in our culture. Now, I think a lot of people that choose the route of integrity believe that

429
00:41:04,530 --> 00:41:09,311
at some point there's going to be consequences for bad behavior that it's going to catch up

430
00:41:09,311 --> 00:41:15,471
and there's going to be rewards for being an integrity or having integrity.

431
00:41:15,471 --> 00:41:22,030
uh what do you think that point is when the consequences finally catch up with these people

432
00:41:22,030 --> 00:41:29,331
i don't think they do not in not in our lifetime and and i hate that i have to say that but i've

433
00:41:29,331 --> 00:41:38,231
i've got to be truthful about it because it ain't just this space it's this is this is a

434
00:41:38,231 --> 00:41:44,671
this is broken money that we we've been infected by broken money for so long that even

435
00:41:44,671 --> 00:41:51,791
even some of the hardcore Bitcoiners that have fallen, and many of them have,

436
00:41:52,851 --> 00:42:01,431
it's because we can recognize what's wrong. And we do. And we can recognize in great detail

437
00:42:01,431 --> 00:42:07,471
what's wrong. And we do. We know the money's broken. We know how it's broken. We know how

438
00:42:07,471 --> 00:42:18,771
gets fixed. But the money's been broken for so long that multiple generations have entered into

439
00:42:18,771 --> 00:42:27,811
a kind of humanity that, in my case, I believe in God, so I'm going to say that God

440
00:42:27,811 --> 00:42:35,811
never meant to actually occur. People walking all over each other for a goddamn time.

441
00:42:35,811 --> 00:42:42,951
of people lying to each other, not caring about where their wealth goes after it as long as they

442
00:42:42,951 --> 00:42:49,891
get theirs, right? And that didn't start with us. And it didn't start with our parents. And it didn't

443
00:42:49,891 --> 00:42:55,691
start with our grandparents. It started before that, which means we have several generations

444
00:42:55,691 --> 00:43:02,911
reinforcing bad behavior when it comes to financial broken incentives. And it's just

445
00:43:02,911 --> 00:43:09,251
come down the line and we are at the end of it right now. But that doesn't mean that the end of

446
00:43:09,251 --> 00:43:17,091
the bad behavior and the end of the rewards for that bad behavior also end. There's going to be a

447
00:43:17,091 --> 00:43:29,171
longer tail on that. Right. So as much as it pains me to say, there's, I'm not ever, I have yet to see

448
00:43:29,171 --> 00:43:37,510
any of the shit coiners quote unquote get theirs. And I'll go even further to say,

449
00:43:37,510 --> 00:43:46,731
I don't care if they get theirs or not. I have better fish to fry. I, I, I,

450
00:43:46,871 --> 00:43:54,851
I don't want to lend what, you know, I've got two brain cells left after all the alcohol I

451
00:43:54,851 --> 00:44:01,091
ingested in high school. I don't want to waste their energy rubbing them together to worry about

452
00:44:01,091 --> 00:44:07,151
what the fuck Dennis Porter is getting paid and why he's getting paid or those assholes at bankless,

453
00:44:07,311 --> 00:44:12,951
right? I don't care. You know, they're, they're, they're going to, they're going to be much

454
00:44:12,951 --> 00:44:20,671
wealthier than I am. And if, if that is how I gauge myself and the other people that are in

455
00:44:20,671 --> 00:44:26,451
this space, then I don't understand Bitcoin and I don't understand how the money's broken.

456
00:44:26,451 --> 00:44:30,111
And I don't understand what the phrase broken incentives mean.

457
00:44:30,991 --> 00:44:39,231
So I try as desperately as I can to stay away from the judgment portion.

458
00:44:39,951 --> 00:44:45,271
Although I don't have any problems saying that I do think that some of these people

459
00:44:45,271 --> 00:44:46,431
are pieces of shit.

460
00:44:46,431 --> 00:44:53,071
I mean, there's a judgment call, but then there is the I don't, I'm not hoping for consequences.

461
00:44:54,131 --> 00:44:57,411
Not because I don't think I'll see them, but just because it's a waste of my time.

462
00:44:57,431 --> 00:45:00,691
That's definitely the mindset of the pioneer right there.

463
00:45:02,550 --> 00:45:11,731
The pioneer is not concerned entirely with other people's behavior and filled with this vitriol of failed purity test.

464
00:45:11,731 --> 00:45:17,371
I think that's a mindset that's really important

465
00:45:17,371 --> 00:45:20,931
Fordivin' is for the shit coiners

466
00:45:20,931 --> 00:45:23,491
It's not for the shit coiners, it's for yourself

467
00:45:23,491 --> 00:45:26,811
Well, the shit coiners

468
00:45:26,811 --> 00:45:28,571
It's like the poor

469
00:45:28,571 --> 00:45:30,811
Jesus said they will always be with you

470
00:45:30,811 --> 00:45:33,791
They will

471
00:45:33,791 --> 00:45:35,171
I mean, there's

472
00:45:35,171 --> 00:45:35,931
I keep

473
00:45:35,931 --> 00:45:38,611
There's been several cycles

474
00:45:38,611 --> 00:45:40,831
That I've been through

475
00:45:40,831 --> 00:45:46,151
where sure you know i i'd hear people say well surely this is the cycle where the shit coins go

476
00:45:46,151 --> 00:45:55,271
down the drain that's never going to happen and i really again this is the part of this is the

477
00:45:55,271 --> 00:46:03,311
danger of lending your energy to hoping for consequences because a it's just a waste of

478
00:46:03,311 --> 00:46:08,611
your energy and you're not applying it to something else and and b it ain't ever going to happen

479
00:46:08,611 --> 00:46:11,751
There's always going to be some grifter

480
00:46:11,801 --> 00:46:17,821
and figuring out how to affinity scam somebody on it's the best Bitcoin.

481
00:46:18,501 --> 00:46:23,141
I mean, I know a kid that's a neighbor of mine

482
00:46:23,141 --> 00:46:25,941
at the house that we have in Colorado,

483
00:46:25,941 --> 00:46:34,181
and he keeps trolling me in meat space about fucking Cardano,

484
00:46:34,541 --> 00:46:37,701
and the dude's not even 17 yet.

485
00:46:37,701 --> 00:46:45,261
I got a 16-year-old kid that's got his, you know, four businesses of his own that he's built.

486
00:46:45,741 --> 00:46:47,661
And I'm really proud of this kid.

487
00:46:48,381 --> 00:46:50,801
You know, he mows lawns.

488
00:46:51,081 --> 00:46:56,301
He does, oh God, excavation.

489
00:46:56,781 --> 00:47:04,261
This is a kid that was driving, you know, John Deere tractors and Caterpillar fucking backhoes when he was 10 years old.

490
00:47:04,261 --> 00:47:13,941
and yet as long as he's known me and as long as i've told him bitcoin only no charles hoskins

491
00:47:13,941 --> 00:47:21,301
and cardano add us to the moon bro add us to i can't i can't do anything for him

492
00:47:21,301 --> 00:47:27,701
i've told him everything that i can i hell i even interviewed him for this pod for my podcast

493
00:47:27,701 --> 00:47:31,861
and he was like shilling cardano and i'm like don't do that

494
00:47:31,861 --> 00:47:40,481
he came on your podcast shield card damien did you want to slap the broccoli haircut off him

495
00:47:40,481 --> 00:47:47,941
no i love the kid too much which is why i will never give up on him i will never give up on him

496
00:47:47,941 --> 00:47:55,661
i think this is the problem with the the boomers is that their parents just gave up on them they

497
00:47:55,661 --> 00:48:02,721
were running around they had the long hair dropping acid engaging in the mk ultra experiments with the

498
00:48:02,721 --> 00:48:08,401
cia and their parents are just like you guys are fucking idiots like we're done with you

499
00:48:08,401 --> 00:48:14,281
and then the boomers are like oh this is how you parent you just give up on your kids we're just

500
00:48:14,281 --> 00:48:18,561
gonna call them we're gonna call the gen xers the millennials we're gonna call them pieces of

501
00:48:18,561 --> 00:48:27,641
shit we're gonna call them lazy our parents did that to us i mean both the their parents they

502
00:48:27,641 --> 00:48:33,961
they were the champions the heroes of the last fourth turning and then they had a bunch of kids

503
00:48:33,961 --> 00:48:40,841
who turned into hippies they had kids who turned into hippies um and just were just like such

504
00:48:40,841 --> 00:48:48,081
hypocritical and hey it's hard not it's hard to blame them sometimes but it's it's proof that you

505
00:48:48,081 --> 00:48:53,761
shouldn't give up you shouldn't give up otherwise if they're if they're experimenting with cardano

506
00:48:53,761 --> 00:49:00,341
when they should be you know listening to the sailor series the robbery love

507
00:49:00,341 --> 00:49:05,501
instead like who knows what they're going to do if they keep it the key spiraling down they're

508
00:49:05,501 --> 00:49:13,621
going to have their own their own broccoli haircut what stock i we got to break the cycle we we can't

509
00:49:13,621 --> 00:49:17,781
give up on the broccoli haircuts they're going to be shilling their salon of meme tokens they're

510
00:49:17,781 --> 00:49:24,381
going to be pumping cardano they're going to be talking about xrp we can't give up on them like

511
00:49:24,381 --> 00:49:29,961
the boomers gave up on us well what's what's really going to blow people's minds in in the

512
00:49:29,961 --> 00:49:37,581
bitcoin space is and it's kind of already happening i've seen a couple instances but it hasn't

513
00:49:37,581 --> 00:49:44,161
really popped its ugly head but my prediction is that you're actually going to see a lot of people

514
00:49:44,161 --> 00:49:45,981
on Bitcoin Twitter, or

515
00:49:45,981 --> 00:49:48,181
well, at this point, crypto Twitter,

516
00:49:48,381 --> 00:49:50,201
that swears up and down

517
00:49:50,201 --> 00:49:51,901
that they're going to make a million dollars

518
00:49:51,901 --> 00:49:53,201
because they're going to hold Tether.

519
00:49:54,241 --> 00:49:56,321
Because they don't understand what it is.

520
00:49:57,881 --> 00:50:00,001
And they're going to shill it to their friends.

521
00:50:00,521 --> 00:50:02,181
And there's this great cryptocurrency,

522
00:50:02,541 --> 00:50:04,401
man, it's pegged to the dollar.

523
00:50:05,401 --> 00:50:06,201
And they don't

524
00:50:06,201 --> 00:50:07,301
understand what that means.

525
00:50:08,561 --> 00:50:10,181
I think you're just going to have

526
00:50:10,181 --> 00:50:12,201
like, you're going to have these

527
00:50:12,201 --> 00:50:13,761
school teachers

528
00:50:13,761 --> 00:50:20,601
widows who they've got a 401k and Donald Trump let's put tether in their 401k and they think

529
00:50:20,601 --> 00:50:25,201
that they're going to do what they do now instead of just you know instead of investing in uh

530
00:50:25,201 --> 00:50:31,701
whatever their their 401k program allows and equities they just keep it in a money market

531
00:50:31,701 --> 00:50:35,301
account and they're just going to have their tether sitting there earning you know whatever

532
00:50:35,301 --> 00:50:41,601
aby that justin's son is offering on you know one of his you know defy chains

533
00:50:41,601 --> 00:50:50,781
yes yes and and you know most of our problems a lot of people really think that

534
00:50:50,781 --> 00:50:57,461
our problem started with the altcoin you know phase coming out of you know uh leading up to

535
00:50:57,461 --> 00:51:04,281
2017 and then the ICO boom after the block size wars ended but it really wasn't that

536
00:51:04,281 --> 00:51:15,461
it's that goddamn sushi swap the whole advent of defy was i didn't see it coming right and at the

537
00:51:15,461 --> 00:51:22,841
same time that that shit was was on the table that's when tether that's when tether happened

538
00:51:22,841 --> 00:51:29,541
because these guys needed to move in and out of that shit like and and that's what really blew

539
00:51:29,541 --> 00:51:41,221
tether up and i'm actually shocked that i did not see thousands and thousands and thousands of

540
00:51:41,221 --> 00:51:48,601
accounts start saying how they're going to get rich on tether i i mean i i know it's going to

541
00:51:48,601 --> 00:51:54,361
happen i know it's going to happen well i think i think it's already happening i think i don't

542
00:51:54,361 --> 00:51:59,301
think it's it's quite as uh absurd i mean there will certainly be people who just like think

543
00:51:59,301 --> 00:52:05,901
they're a hot old tether but it's it's coming back kind of it was at its peak in 2021 it was

544
00:52:05,901 --> 00:52:11,341
you had the centralized exchanges block fi and celsius and nexo but then you had all those other

545
00:52:11,341 --> 00:52:16,541
ones and like i said justin's son has his his fingers in a lot of those there's a big over in

546
00:52:16,541 --> 00:52:23,801
asia but you usually throw your tether on uh one of these yield farms or something it is one of

547
00:52:23,801 --> 00:52:32,581
these yield experiments they've got and they they promise 10 15 20 interest uh and people think that

548
00:52:32,581 --> 00:52:41,181
uh you know they think that they're just making away with easy money well for for a lot of people

549
00:52:41,181 --> 00:52:46,361
around the world it might actually be the case that hodling tether is a good financial decision

550
00:52:46,361 --> 00:52:49,621
for them we we saw if you read the book when money dies

551
00:52:49,621 --> 00:52:58,461
the people were trading out of the the german or yeah the german mark into great british pounds

552
00:52:58,461 --> 00:53:04,961
and dollars and they were just making a killing off the the currency trade i mean you live somewhere

553
00:53:04,961 --> 00:53:11,461
like canada or you live in the global south you live in russia who's having currency problems

554
00:53:11,461 --> 00:53:17,421
maybe honoling tether is for for a u.s citizen it sounds kind of silly

555
00:53:17,421 --> 00:53:29,321
well from that standpoint yeah in so far that they're not going to get debased so whenever it

556
00:53:29,321 --> 00:53:36,361
is that they collect the tether that's their that's their basis line it technically it can't

557
00:53:36,361 --> 00:53:41,361
actually go up unless excuse me like rod was saying

558
00:53:41,361 --> 00:53:50,201
throwing it on some kind of solana chain that offers some kind of you know usurious amount of

559
00:53:50,201 --> 00:53:54,821
of interest rate of course you always have to ask yourself where does the yield come from but that's

560
00:53:54,821 --> 00:54:02,601
that's a different that's a different discussion the people that try that are going to get wrecked

561
00:54:02,601 --> 00:54:09,141
that you know they will and and that will happen it's all it's already happening and it's already

562
00:54:09,141 --> 00:54:15,601
starting to permeate into another type of thing, going back to the Bitcoin treasury companies,

563
00:54:16,181 --> 00:54:23,841
I saw a headline earlier, it was either last night or today, that the new hotness on Wall Street

564
00:54:23,841 --> 00:54:32,821
is dividend paying ETFs. And I'm like, okay, you clearly don't understand how this shit works.

565
00:54:33,881 --> 00:54:38,821
I mean, maybe the people that are writing it probably don't, but the people that are

566
00:54:39,141 --> 00:54:45,501
sending the press releases to say, hey, we're going to design this new instrumentation

567
00:54:45,501 --> 00:54:47,881
where you're going to get yield on your ETF.

568
00:54:49,001 --> 00:54:53,901
And I'm like, this is just going to end poorly again.

569
00:54:54,601 --> 00:55:00,561
And I don't have to be in Bitcoin to see shit ending poorly.

570
00:55:01,061 --> 00:55:05,821
All I have to look at is mortgage-backed securities and collateralized debt obligations.

571
00:55:05,821 --> 00:55:12,781
that's all i gotta say and collateralized or or cds's collateralized debt swaps or

572
00:55:12,781 --> 00:55:19,441
default collateralized default swaps because that shit happened all that shit happened before bitcoin

573
00:55:19,441 --> 00:55:26,361
was even born of course you know from what we know was the impetus that created bitcoin but i think

574
00:55:26,361 --> 00:55:31,561
bitcoin must have been in the works before that shit actually happened in either in either event

575
00:55:31,561 --> 00:55:38,321
we keep seeing the same pattern over and over and over again and it's spelled grift

576
00:55:38,321 --> 00:55:46,161
and it's just it's just a new it's a new wrapper on an old scam that's been perpetrated on the

577
00:55:46,161 --> 00:55:53,981
human species for fucking millennia at one point or another we keep thinking that at one point or

578
00:55:53,981 --> 00:55:59,541
another that the that humanity will learn from their mistakes and stop being stupid but

579
00:55:59,541 --> 00:56:02,981
I mean I got to be pessimistic on that

580
00:56:02,981 --> 00:56:05,041
I think that there's always going to be

581
00:56:05,041 --> 00:56:09,081
A large enough percentage of the human population

582
00:56:09,081 --> 00:56:12,041
That you can just scam until the world looks level

583
00:56:12,041 --> 00:56:16,181
And it's sad and I don't like being negative that way

584
00:56:16,181 --> 00:56:18,241
But I also got to be truthful with myself

585
00:56:18,241 --> 00:56:22,221
That all we can really do is save ourselves

586
00:56:22,221 --> 00:56:25,961
And save or at least try to save the people around us

587
00:56:25,961 --> 00:56:28,841
We can't save everybody

588
00:56:28,841 --> 00:56:38,621
why is it being negative being accurate do what why is it considered negative to be accurate

589
00:56:38,621 --> 00:56:45,021
because it's not the story people want to hear and it is it's it's not that it's negative it's that

590
00:56:45,021 --> 00:56:53,321
i'm not painting a bright rosy picture because that would just be straight up lying for one

591
00:56:53,321 --> 00:57:01,381
But the picture that I am painting, as truthful as it is, it's not the story people want to listen to.

592
00:57:02,481 --> 00:57:11,241
And that may be one of the integral parts of running a good scam, is not ever saying the truth.

593
00:57:11,441 --> 00:57:18,761
It's just 100% complete lie and being able to maintain that lie for very long periods of time.

594
00:57:18,761 --> 00:57:23,801
I honestly think that that's all you really need to do to perpetrate a scam

595
00:57:23,801 --> 00:57:26,481
as to whether or not you can sleep at night

596
00:57:26,481 --> 00:57:29,001
I guess is up to you and whatever God you worship

597
00:57:29,001 --> 00:57:32,961
so who do you think are the people that

598
00:57:32,961 --> 00:57:35,041
don't want to hear that

599
00:57:35,041 --> 00:57:36,361
that don't want to hear the truth

600
00:57:36,361 --> 00:57:52,571
is it the people that are susceptible to getting scammed primarily I think you susceptible to getting scammed and I don think it depends on some kind of innate intelligence

601
00:57:53,251 --> 00:57:54,951
I think it's more emotional.

602
00:57:56,131 --> 00:58:00,011
And it doesn't matter what your IQ is.

603
00:58:00,011 --> 00:58:03,191
You can be left side, right side, right smack dab in the middle.

604
00:58:03,351 --> 00:58:06,291
Everybody's got emotions, and everybody can be preyed upon

605
00:58:06,291 --> 00:58:08,071
depending on their emotional state.

606
00:58:08,071 --> 00:58:12,491
and the money is since the money has been so broken for so long

607
00:58:12,491 --> 00:58:19,271
it's easy to prey on people that are desperate

608
00:58:19,271 --> 00:58:25,071
but that's the target the people that are desperate the people that

609
00:58:25,071 --> 00:58:34,891
really need um solana to do a 10x the people that really need cardano to come through for them

610
00:58:34,891 --> 00:58:42,991
you know it's just i think it's just that simple i wish it was more complicated but i don't think

611
00:58:42,991 --> 00:58:51,851
it is and because it's so uncomplicated i think is why we are going to see this over and over and

612
00:58:51,851 --> 00:58:57,531
over again and we're not going to learn and we're all and all the people that are you know waiting

613
00:58:57,531 --> 00:59:04,051
for altcoins to go away are going to continuously be befuddled as to why they don't and it's just

614
00:59:04,051 --> 00:59:10,351
going to make them sad and i i don't know man just buy bitcoin be happy buy bitcoin yeah the

615
00:59:10,351 --> 00:59:17,631
the it ultimately boils down to like somebody who is looking for the next bitcoin or the next

616
00:59:17,631 --> 00:59:23,091
better bitcoin even if they are cynical enough to know that there is no next bitcoin but that

617
00:59:23,091 --> 00:59:28,431
enough other people will be fooled into believing it's the next bitcoin and they have a chance to

618
00:59:28,431 --> 00:59:34,151
make money they they just keep needing these cynical things to happen to come through for them

619
00:59:34,151 --> 00:59:40,471
instead of realizing that you have to learn to come through for yourself that it's like not going

620
00:59:40,471 --> 00:59:46,811
to be somebody else somebody else's idea somebody else's stock somebody else's uh coin you have to

621
00:59:46,811 --> 00:59:54,331
come through for yourself and you otherwise you're just going to constantly be susceptible to

622
00:59:54,331 --> 01:00:00,571
some sort of emotional tide that makes you fall for a grift or risk vulnerable to a grift.

623
01:00:01,971 --> 01:00:08,351
Yeah, that's, that really is what it boils down to. And this has been going on forever.

624
01:00:08,951 --> 01:00:15,771
You know, it's just, it's the same pattern over and over and over again. And it's just,

625
01:00:15,771 --> 01:00:24,011
it's just gotten worse because as incentives get broken, there's more attack surface because

626
01:00:24,011 --> 01:00:25,631
There's more people that are desperate.

627
01:00:27,491 --> 01:00:47,911
The more you send the economy into a tailspin, not just the United States economy or the West economy, but all the countries of the world's economy, when you interlink them like this, it's like a butterfly flapping its wings and Indonesia and a typhoon wipes out California.

628
01:00:47,911 --> 01:01:04,011
These things are so interconnected now that you can literally manipulate almost you can almost manipulate the feelings of most of the population on the planet in record time.

629
01:01:05,091 --> 01:01:12,171
And the more that you can produce desperate, sad people, the more you can take what's left of their money.

630
01:01:12,171 --> 01:01:18,871
because that's what I see when I see one more shitcoin come online

631
01:01:18,871 --> 01:01:22,331
or one more altcoin or one more ICO or whatever.

632
01:01:23,171 --> 01:01:30,171
And that's the problem that I have with these Bitcoin treasury companies.

633
01:01:30,971 --> 01:01:35,191
And even though I don't have any particular beef with Michael Saylor himself,

634
01:01:35,891 --> 01:01:38,051
I mean, it's actually kind of a brilliant move.

635
01:01:38,791 --> 01:01:41,111
He is the first guy to actually say,

636
01:01:41,111 --> 01:01:55,671
hey, you should probably really look at your balance sheet and use that as a tool of leverage instead of just letting it sit there and have cash on hand to pay next month's payroll.

637
01:01:56,451 --> 01:02:08,391
Because he really is kind of the first guy that said, yeah, we really should probably be looking at this as our balance sheet as a tool, as something that we can really leverage.

638
01:02:08,391 --> 01:02:10,651
And here's how we're going to do it.

639
01:02:11,111 --> 01:02:14,371
And he was doing so well for so long.

640
01:02:14,371 --> 01:02:16,171
And then all of a sudden he said, you know what?

641
01:02:16,191 --> 01:02:17,851
We're not even going to do software anymore.

642
01:02:18,271 --> 01:02:25,911
And then the next thing after that came the dead instrumentation constructions of strife and strike and stride and whatever.

643
01:02:25,911 --> 01:02:35,471
And that's what I worry about if it is not followed up by a rock solid revenue plan.

644
01:02:35,911 --> 01:02:40,811
Like I've talked about it on my podcast before.

645
01:02:41,111 --> 01:02:52,471
over the last couple of days that he could secure loans for people using a third-party loan

646
01:02:52,471 --> 01:03:00,811
guy like Goldman Sachs, and he backs it with Bitcoin and says, okay, guy that's getting the

647
01:03:00,811 --> 01:03:04,651
loan, you're actually not getting the loan from me. You're getting it from Goldman Sachs. I'm

648
01:03:04,651 --> 01:03:09,691
going to back that loan with the Bitcoin that I have in my treasury, and I'm going to take

649
01:03:09,691 --> 01:03:14,351
you know, 50 basis points off the top.

650
01:03:14,451 --> 01:03:16,071
So if they're charging you 7%,

651
01:03:16,071 --> 01:03:19,611
you're going to owe me 7.5%.

652
01:03:19,611 --> 01:03:24,651
I'm going to pay the 7% in your name to Goldman Sachs,

653
01:03:24,671 --> 01:03:27,911
and I'm going to keep, you know, 0.5% off the top.

654
01:03:27,991 --> 01:03:28,991
That's my revenue.

655
01:03:29,271 --> 01:03:30,951
If he doesn't do that,

656
01:03:31,431 --> 01:03:35,991
then I'm just going to have nothing but problems

657
01:03:35,991 --> 01:03:38,591
with if he comes out with, you know,

658
01:03:38,591 --> 01:03:43,151
I don't know, T-U-R-D, Preferred Perpetual.

659
01:03:43,691 --> 01:03:47,591
You know, like that page, you know, 15% or something like that.

660
01:03:47,651 --> 01:03:49,711
It's just because it doesn't make any sense.

661
01:03:49,791 --> 01:03:57,851
There's only so many people out there that are dying to get into the next best thing that's going to 10X.

662
01:03:59,351 --> 01:04:06,491
And I think it's kind of running out of steam, which is, if I look at Strive,

663
01:04:06,491 --> 01:04:17,091
at least they bought, when they bought similar scientific, at least they bought a company that's got a revenue stream that has positive cash flow.

664
01:04:17,391 --> 01:04:18,831
That makes sense.

665
01:04:19,751 --> 01:04:29,251
But continuously printing debt like you're the United States Treasury or the Federal Reserve, after a while, we know how that goes.

666
01:04:29,251 --> 01:04:39,671
yeah well you know i guess really wrapping up the entire thought on the bitcoin treasury company

667
01:04:39,671 --> 01:04:48,131
space is that there is a difference like michael saylor is the pioneer in this uh sector like in

668
01:04:48,131 --> 01:04:54,151
this experiment in a strategy um and i think actually although you raised like some pretty

669
01:04:54,151 --> 01:04:59,811
good points that from my perspective i could see it was gonna just keep borrowing and selling if

670
01:04:59,811 --> 01:05:05,591
like you can do it at virtually no coupon or no interest until that kind of runs out and then

671
01:05:05,591 --> 01:05:10,231
they'll probably stop but i think actually that i've heard multiple people speculate on this like

672
01:05:10,231 --> 01:05:14,891
that they are they when they change the name for micro strategy to strategy with that that symbol

673
01:05:14,891 --> 01:05:21,351
that uh it kind of followed or people suspected that they were doing this brand this over it

674
01:05:21,351 --> 01:05:24,571
It takes a few years, but they slowly rebrand into,

675
01:05:25,231 --> 01:05:27,691
like they're going to call them strategy bank.

676
01:05:27,691 --> 01:05:31,451
It's going to be some sort of financial services

677
01:05:31,451 --> 01:05:33,131
or financial offerings,

678
01:05:33,371 --> 01:05:35,191
something like what you were talking about,

679
01:05:35,511 --> 01:05:37,431
maybe more broad than that, maybe more narrow,

680
01:05:37,511 --> 01:05:38,971
maybe something pivoted altogether.

681
01:05:39,531 --> 01:05:40,291
But at the end of the day,

682
01:05:40,411 --> 01:05:42,451
like Sailor is the largest one at scale,

683
01:05:42,831 --> 01:05:45,711
the most quote unquote trusted and most pioneer.

684
01:05:46,031 --> 01:05:46,391
And then there,

685
01:05:46,491 --> 01:05:48,251
but this is a whole bunch of other companies

686
01:05:48,251 --> 01:05:50,531
that are doing this and it's very uninspired.

687
01:05:50,531 --> 01:05:57,071
they don't maybe they think they've got some sort of plan to to uh invest in something new and start

688
01:05:57,071 --> 01:06:02,171
generating real revenue um or maybe they're going to try to become a financial institution but they

689
01:06:02,171 --> 01:06:07,911
don't really have a solid plan or direction and they're just kind of piggybacking off of this wave

690
01:06:07,911 --> 01:06:15,311
trying to get extra liquidity for pipe event etc um and i think that that's just another best

691
01:06:15,311 --> 01:06:19,271
something to pay attention to is like don't get caught up in all this hype there's really probably

692
01:06:19,271 --> 01:06:25,031
one or two players that are going to execute this well and continue to grow and that's not

693
01:06:25,031 --> 01:06:31,231
even guaranteed um and the rest of these are definitely probably doomed before they you know

694
01:06:31,231 --> 01:06:40,231
even ipo yeah and what i was thinking about earlier today was that given the the news of

695
01:06:40,231 --> 01:06:49,051
strive buying similar scientific what's what's being positioned with all like like b hodl is is

696
01:06:49,051 --> 01:06:56,911
a great example because they just announced 100 Bitcoin by today. It could be because I usually

697
01:06:56,911 --> 01:07:02,951
look at the longer tail of these companies that are coming in to try to execute the strategy

698
01:07:02,951 --> 01:07:14,151
playbook. I see most of these as it is a Hail Mary. Even Metaplanet is a essentially, they

699
01:07:14,151 --> 01:07:20,931
actually sell they admitted themselves they're a failed management company in real estate they

700
01:07:20,931 --> 01:07:26,371
failed right however they're in a position with the amount of bitcoin that they have that they

701
01:07:26,371 --> 01:07:33,851
will also probably survive because if they can convert and go into financial services with the

702
01:07:33,851 --> 01:07:38,751
kind of bank that they got they will probably be able to survive but they won't if they can't find

703
01:07:38,751 --> 01:07:45,771
revenue. But for the rest of these guys, I'm starting to think that these Hail Mary passes

704
01:07:45,771 --> 01:07:53,331
are not some of them, like the ones that came online a couple of months ago,

705
01:07:53,331 --> 01:07:59,831
are going to like try to like construct debt instrumentation like strategy, sell, you know,

706
01:08:00,171 --> 01:08:05,691
perpetual preferreds and get people to give them money so that they can buy more Bitcoin, which

707
01:08:05,691 --> 01:08:13,131
increases their general wealth and rinse and repeat. But these newer ones, like these last

708
01:08:13,131 --> 01:08:19,431
ones here, I'm starting to think that they're not even interested in doing that. They're looking to

709
01:08:19,431 --> 01:08:24,951
get bought out. They're looking for, they're looking for Strive or somebody like that to come

710
01:08:24,951 --> 01:08:29,791
just say, Hey, we'll take the whole kit and caboodle off your hands. And, uh, the top three

711
01:08:29,791 --> 01:08:33,931
guys at the company, you can be on our board of directors and we'll pay your salary. Everybody

712
01:08:33,931 --> 01:08:45,791
else, bye. Gotta go. Right? So you're going to see, even if I'm wrong about that particular theory,

713
01:08:45,791 --> 01:08:49,771
you are going to start seeing massive collapse and consolidation

714
01:08:49,771 --> 01:08:56,151
probably starting pretty soon and continue throughout the year of 2026.

715
01:08:57,051 --> 01:09:03,711
I can't say who because I don't know, but it's that gut feeling. It's that nagging at the back

716
01:09:03,711 --> 01:09:09,711
of my neck that's saying, yeah, this shit's coming to an end and it's going to convert

717
01:09:09,711 --> 01:09:11,211
into something else.

718
01:09:11,211 --> 01:09:25,421
And I think the something else is definitely going to include a whole bunch of collapse and consolidations But I think these newer companies that are doing the strategy playbook they just looking to save their

719
01:09:25,421 --> 01:09:30,841
bacon at the top echelons of the company and say, hey, we've got enough Bitcoin to be interesting

720
01:09:30,841 --> 01:09:38,881
to somebody to just pick us up. Sounds kind of like ICOs, the pump and dump. Yep. Yep.

721
01:09:38,881 --> 01:09:48,221
well i think going into the fountain boost i think uh one of the things a lot of these companies

722
01:09:48,221 --> 01:09:53,621
could do is uh they could buy profitable bitcoin podcasts and then they could generate some revenue

723
01:09:53,621 --> 01:10:06,621
on the books um buy my bitcoin bitcoin podcast exactly um so one of the things we do we read

724
01:10:06,621 --> 01:10:11,561
the founding boost from the previous interview show that we did uh you're following up matt

725
01:10:11,561 --> 01:10:18,161
odell this was a fun conversation we had uh he used to be a grumpy bitcoin podcaster but he's

726
01:10:18,161 --> 01:10:24,981
not so grumpy anymore he's hairless but he's not not as grumpy yeah what do you think about his

727
01:10:24,981 --> 01:10:29,521
haircut actually it's a good looking haircut i i can't really see it because he's always wearing

728
01:10:29,521 --> 01:10:36,481
a ball cap but hey you know what you gonna do clearly though he's got he's got a pretty

729
01:10:36,481 --> 01:10:41,181
nice looking haircut at least the parts that you can see my conjecture is that his wife gave it to

730
01:10:41,181 --> 01:10:47,741
him you know why his wife uh gave him the haircut because he doesn't want to be short bitcoin

731
01:10:47,741 --> 01:10:55,181
no because these these ai apps it's way too easy when he has long hair to make him look like a girl

732
01:10:55,181 --> 01:11:02,841
and she really doesn't like right she doesn't like she doesn't like the sexy odell pictures

733
01:11:02,841 --> 01:11:11,461
i mean iai oh oh bird she she doesn't she's a straight woman and she doesn't like to admit

734
01:11:11,461 --> 01:11:19,801
that her husband looks super hot as a girl oh dude double bird yeah it was a fun interview uh

735
01:11:19,801 --> 01:11:26,281
we talked we talked about a bunch of stuff we talked about open sats we talked about

736
01:11:26,281 --> 01:11:37,741
uh bitcoin podcast odell you know i kind of likened him to these figures in american history

737
01:11:37,741 --> 01:11:42,961
that have been really important like a like a benjamin franklin type character like thomas

738
01:11:42,961 --> 01:11:50,521
jefferson like when our children are being schooled in the citadel schools in the future

739
01:11:50,521 --> 01:11:56,261
they're going to be reading in the history books about the great bitcoin podcasters i would love

740
01:11:56,261 --> 01:12:04,001
you in there too oh i appreciate it if you were to compare yourself to as a bitcoin podcaster to

741
01:12:04,001 --> 01:12:10,281
somebody in american history like a thomas paine or you know somebody like that who do you think

742
01:12:10,281 --> 01:12:14,121
you would uh be likened to in the history books 50 years from today

743
01:12:14,121 --> 01:12:19,001
david gilmore

744
01:12:19,001 --> 01:12:25,101
i don't know why he's just my favorite guitar player

745
01:12:25,101 --> 01:12:29,821
I don't really have a lot of knowledge

746
01:12:29,821 --> 01:12:31,781
Off the top of my head

747
01:12:31,781 --> 01:12:34,141
Of great historical figures

748
01:12:34,141 --> 01:12:35,701
I don't know

749
01:12:35,701 --> 01:12:36,261
I mean

750
01:12:36,261 --> 01:12:40,701
We all make our own history

751
01:12:40,701 --> 01:12:42,381
You know

752
01:12:42,381 --> 01:12:43,381
It's like

753
01:12:43,381 --> 01:12:45,841
Again this is sort of like

754
01:12:45,841 --> 01:12:47,241
I go back to

755
01:12:47,241 --> 01:12:50,581
Trying not to give my energy over

756
01:12:50,581 --> 01:12:52,841
Into worrying about whether or not

757
01:12:52,841 --> 01:12:54,361
Somebody gets their comeuppance

758
01:12:54,361 --> 01:13:07,281
You know, all I can really do instead of, you know, wasting my time trying to figure out if I'm like George Washington or not, is to just be David Bennett.

759
01:13:07,741 --> 01:13:10,581
I mean, that's, which is my real name.

760
01:13:10,701 --> 01:13:16,881
You know, I mean, I say it on the podcast all the time, so I'm already doxxed and have been so for years.

761
01:13:17,381 --> 01:13:20,321
But that's the only person that I can ever be.

762
01:13:20,501 --> 01:13:24,261
You know, I can't be like somebody else because I'm not them.

763
01:13:24,361 --> 01:13:32,841
totally it is interesting to think about like bitcoin podcast matter we we've all

764
01:13:32,841 --> 01:13:39,041
that have participated in this we've had a sizable impact on history we've been the uh

765
01:13:39,041 --> 01:13:41,961
propaganda arm for this shift

766
01:13:41,961 --> 01:13:50,281
for very for a variety of reasons some of us are spooks some of us are good intentioned individuals

767
01:13:50,281 --> 01:13:57,481
some of us are opportunists but either way we've played a role in history we've impacted people's

768
01:13:57,481 --> 01:14:02,601
lives and uh bitcoin you know i think we're all predicting is going to have a pretty sizable

769
01:14:02,601 --> 01:14:11,581
impact on history but yeah we we talk about the founding boost so um before rod i want you to read

770
01:14:11,581 --> 01:14:17,101
this first one but before we get there i forgot to read a boost from barn barn barn minor so barn

771
01:14:17,101 --> 01:14:25,201
minor is too stubborn to sound send boost on fountain so he sent me a like 3 000 set

772
01:14:25,201 --> 01:14:33,561
uh boost and then he messaged me his message on signal and i forgot to read this uh but he has a

773
01:14:33,561 --> 01:14:39,921
self-destruct timer on our messages so his message deleted but he said something about

774
01:14:39,921 --> 01:14:45,761
fountain being gay so he wanted to he wanted to say to everybody that fountain is gay

775
01:14:45,761 --> 01:14:49,401
there was something along the lines of that that was his boost

776
01:14:49,401 --> 01:14:59,181
that's that is the average um interaction with barnmeyer he's complaining about lightning

777
01:14:59,181 --> 01:15:05,601
networking to get boost from some like podcast thing that somebody built in their garage in from

778
01:15:05,601 --> 01:15:12,541
his meetup and then uh and then his his messages on telegram disappear even though they're incoherent

779
01:15:12,541 --> 01:15:19,481
usually um so it's not like the feds could read them but anyways thank you bar and minor um the

780
01:15:19,481 --> 01:15:27,101
next one is from fundamentals now a little context if you didn't listen to the last episode um i

781
01:15:27,101 --> 01:15:35,801
brought up a situation that you know i hyperbolically attributed fundamentals our friend

782
01:15:35,801 --> 01:15:38,221
to having Odell derangement syndrome

783
01:15:38,221 --> 01:15:42,641
and has a way to prove

784
01:15:42,641 --> 01:15:45,801
that he doesn't have Odell derangement syndrome.

785
01:15:46,201 --> 01:15:48,681
Within 20 minutes of the podcast coming out,

786
01:15:48,841 --> 01:15:50,701
he recorded an emergency podcast

787
01:15:50,701 --> 01:15:52,161
about half hour long

788
01:15:52,161 --> 01:15:55,301
to explain how he doesn't have Odell derangement syndrome

789
01:15:55,301 --> 01:15:59,561
and talk about how much he respects Odell.

790
01:16:01,361 --> 01:16:03,141
So yeah, so that is what his boost is.

791
01:16:03,181 --> 01:16:04,341
He is sharing a link to that.

792
01:16:04,341 --> 01:16:16,681
He says, my official response to being accused of Odell derangement syndrome, and this is 21,000 stats, by the way, wanted to say that Matt was a great guest, and I appreciate his candor and generosity with you guys.

793
01:16:17,101 --> 01:16:20,261
I expect a retraction to maintain journalistic integrity.

794
01:16:20,601 --> 01:16:21,221
Congrats, guys.

795
01:16:22,941 --> 01:16:28,721
I already responded by boosting his and saying, way to prove his point.

796
01:16:29,521 --> 01:16:33,061
But, yeah, do what you will.

797
01:16:33,061 --> 01:16:36,081
I don't think that there's any commentary that I have to add to here.

798
01:16:36,141 --> 01:16:39,001
I think that the entire nature of the story,

799
01:16:39,081 --> 01:16:42,901
you can listen to the podcast emergency response yourself and draw your own

800
01:16:42,901 --> 01:16:43,401
conclusions.

801
01:16:44,721 --> 01:16:45,641
I think that,

802
01:16:45,701 --> 01:16:45,981
you know,

803
01:16:47,261 --> 01:16:49,981
it's definitely normal behavior that what he did.

804
01:16:50,861 --> 01:16:52,321
So is your official statement,

805
01:16:52,461 --> 01:16:54,081
you're not going to issue a retraction?

806
01:16:56,121 --> 01:16:56,561
Yeah,

807
01:16:56,641 --> 01:16:57,721
I'm not issuing a retraction.

808
01:16:57,721 --> 01:17:00,221
I think that there is not enough evidence to,

809
01:17:00,221 --> 01:17:06,541
to clear him of the Odell Doreens with syndrome charges.

810
01:17:06,881 --> 01:17:09,881
What's the worst retraction you've ever had to issue, David?

811
01:17:11,861 --> 01:17:16,161
Oh, I can't remember a specific one.

812
01:17:16,161 --> 01:17:26,621
When I do issue retractions, it's usually because I would, I don't know,

813
01:17:26,621 --> 01:17:32,161
one of the most embarrassing ones was I just to flat out read a clearly

814
01:17:32,161 --> 01:17:36,201
bullshit store, a news story or article on,

815
01:17:36,301 --> 01:17:41,781
on the podcast and then not realize it until I'm like all the way through it

816
01:17:41,781 --> 01:17:44,301
because it's very embarrassing to do that shit.

817
01:17:44,301 --> 01:17:49,601
And it's happened a couple of times and usually the retraction is immediate

818
01:17:49,601 --> 01:17:54,581
because I realized just how stupid it was pretty much immediately. So yeah,

819
01:17:54,581 --> 01:18:01,621
It's usually when I do screw up like that and don't really truly vet a story.

820
01:18:02,321 --> 01:18:03,281
And it happens.

821
01:18:03,501 --> 01:18:06,461
I don't mean it to happen, but it happens.

822
01:18:07,061 --> 01:18:08,581
I feel bad about it.

823
01:18:09,761 --> 01:18:22,141
One of the things that credential journalists do, they typically don't issue retractions unless there are Jewish lawyers involved with either threats or actual lawsuits.

824
01:18:22,141 --> 01:18:30,041
well jewish lawyers are very good at what they do they're the best the absolute best if you need a

825
01:18:30,041 --> 01:18:34,941
lawyer get one that's jewish man because those motherfuckers don't mess around you might know

826
01:18:34,941 --> 01:18:41,761
this uh next booster thank you fundamentals for the boost i enjoyed uh listening to your uh

827
01:18:41,761 --> 01:18:48,601
rebuttal to rod uh the next boost you might know this guy david if you don't i think you

828
01:18:48,601 --> 01:18:57,781
it'd be cool if you did this is otis bitmeyer 5 420 sats says a delight to hear he's a nostor guy

829
01:18:57,781 --> 01:19:07,081
he sells coffee he's a good candidate for the circle p yeah i i know i know of otis i follow

830
01:19:07,081 --> 01:19:16,801
him on nostor and i think i think i've i've asked him uh directly if uh he'd be interested in in

831
01:19:16,801 --> 01:19:20,961
in doing something like that. And I need to get, I need to get back to them.

832
01:19:21,301 --> 01:19:23,041
There's a lot of people I need to get back to.

833
01:19:23,121 --> 01:19:26,781
There's a couple of people that are interested in getting into the circle P and

834
01:19:26,781 --> 01:19:29,261
just, that just makes me happy.

835
01:19:31,061 --> 01:19:34,681
It's one of my favorite things that you do. I love that.

836
01:19:34,681 --> 01:19:39,081
It's one of my favorite things that, that I do. I was just because it's like,

837
01:19:39,081 --> 01:19:44,301
it's it, it, for me, it's like,

838
01:19:44,301 --> 01:19:51,801
how do we help each other in a real,

839
01:19:51,981 --> 01:19:52,301
in a,

840
01:19:52,361 --> 01:19:54,381
in an actual way instead of saying,

841
01:19:54,521 --> 01:19:54,701
Hey,

842
01:19:54,801 --> 01:19:55,061
you know,

843
01:19:55,141 --> 01:20:00,281
buy stack sats and stay humble or don't buy shit coins or anything like

844
01:20:00,281 --> 01:20:00,561
that.

845
01:20:00,561 --> 01:20:00,881
It's like,

846
01:20:00,901 --> 01:20:01,101
what,

847
01:20:01,101 --> 01:20:03,321
what else can be done to help people?

848
01:20:03,581 --> 01:20:04,141
And it was like,

849
01:20:04,481 --> 01:20:05,341
you know,

850
01:20:05,401 --> 01:20:07,261
most of these people that are trying to,

851
01:20:07,321 --> 01:20:08,741
to make a product,

852
01:20:08,921 --> 01:20:09,161
they don't,

853
01:20:09,281 --> 01:20:10,701
they don't have money to advertise.

854
01:20:10,961 --> 01:20:12,141
They just don't.

855
01:20:12,141 --> 01:20:16,601
and I like, you know, even though my audience is small,

856
01:20:17,081 --> 01:20:22,201
they do buy things, and the people that I put in the Circle P,

857
01:20:22,361 --> 01:20:24,601
their products are freaking awesome, man.

858
01:20:25,381 --> 01:20:30,661
Soap Miner, Great Gee, Ben Jessman and Peony Lane Wines.

859
01:20:31,741 --> 01:20:32,701
Who else do I got?

860
01:20:33,601 --> 01:20:34,161
Who else did?

861
01:20:34,681 --> 01:20:35,801
Shee Shee's Comfrey.

862
01:20:35,801 --> 01:20:40,381
Yeah, Shee Shee and Oshie from Oshie Good.

863
01:20:40,381 --> 01:20:41,881
his

864
01:20:41,881 --> 01:20:42,761
huddle butter

865
01:20:42,761 --> 01:20:43,581
and stuff like that

866
01:20:43,581 --> 01:20:44,061
is just

867
01:20:44,061 --> 01:20:57,391
all these products are amazing and all I really want to ever see anybody do is be able to get out what get out of whatever grind they are doing and and do the thing that they actually want to do and if there

868
01:20:57,391 --> 01:21:02,711
any way that that i can help these people out that that's why the circle p exists

869
01:21:02,711 --> 01:21:11,031
yeah yeah i mean that's that is uh one of the benefits of farting around on nostrils you might

870
01:21:11,031 --> 01:21:18,772
find some really good hodl butter since always out there um next one is from our uh from our

871
01:21:18,772 --> 01:21:26,571
from our friend late stage hodl 5000 sat the big wine time chain should replace history books i met

872
01:21:26,571 --> 01:21:33,151
matt once uh when he was drunk at the rabbit hole recap hot style takeover and he invited me and my

873
01:21:33,151 --> 01:21:42,031
wife to the park. This was in between his stage of grumpiness in the next day of hum over grumpiness.

874
01:21:42,031 --> 01:21:47,131
When I got to the park the next day, we did not get to speak. It was sad, but I still don't have

875
01:21:47,131 --> 01:21:53,591
Odell Derangement Syndrome. He's a legend. There might have been my moment to stop acting like a

876
01:21:53,591 --> 01:21:59,071
retarded plaid and turn into a pioneer. Just like he said, so many people care about things that just

877
01:21:59,071 --> 01:22:00,772
don't fucking matter.

878
01:22:03,151 --> 01:22:07,851
oh yeah i mean i can't no way i can see late stage huddle

879
01:22:07,851 --> 01:22:12,191
having odell derangement syndrome he's too uh he's too chill

880
01:22:12,191 --> 01:22:19,272
he's a good guy he's a really good guy big fan of late stage huddle i gotta hit him up see how

881
01:22:19,272 --> 01:22:26,651
he's doing orange mark 2500 sat says proof of positivity from grumps to gleeful freaks pioneers

882
01:22:26,651 --> 01:22:33,031
know the future is bright orange orange uh emoji lightning emoji

883
01:22:33,031 --> 01:22:39,851
it's been a while since we heard from the orange mart uh david are you familiar with uh orange

884
01:22:39,851 --> 01:22:44,472
mart yeah but i haven't seen a a nostril post from orange mart in quite a while

885
01:22:44,472 --> 01:22:51,871
come to think of it i need to make sure i'm following them on nostril

886
01:22:51,871 --> 01:22:58,871
it's been a while since i went to the orange mart yeah they haven't been super active i actually

887
01:22:58,871 --> 01:23:04,252
went and looked because i was wondering but it is good to um seeing back in the booths listening

888
01:23:04,252 --> 01:23:13,512
to podcasts hoping to see more timeline activity miss the orange mart um to see no bullshit bitcoin

889
01:23:13,512 --> 01:23:21,431
come back man i'm really kind of oh yeah for sure that's a good one uh the next one is jason c

890
01:23:21,431 --> 01:23:23,671
2,121 sats

891
01:23:23,671 --> 01:23:25,451
blown away by those so far

892
01:23:25,451 --> 01:23:26,791
well done gentlemen

893
01:23:26,791 --> 01:23:29,351
thanks Jason

894
01:23:29,351 --> 01:23:31,591
Jason he has

895
01:23:31,591 --> 01:23:33,711
the podcast back on the chain

896
01:23:33,711 --> 01:23:35,752
with fundamentals

897
01:23:35,752 --> 01:23:37,732
so Jason loved it

898
01:23:37,732 --> 01:23:38,831
fundamentals

899
01:23:38,831 --> 01:23:41,531
you guys should talk about the

900
01:23:41,531 --> 01:23:43,811
ODS on the next podcast

901
01:23:43,811 --> 01:23:45,651
there might be an interesting conversation

902
01:23:45,651 --> 01:23:46,211
there too

903
01:23:46,211 --> 01:23:49,691
are you a fish

904
01:23:49,691 --> 01:23:50,671
fan David

905
01:23:50,671 --> 01:23:56,591
not really i i know of fish and i know the uh

906
01:23:56,591 --> 01:24:06,311
i know the um the vehemence of the fish fans but i never really never really got into uh

907
01:24:06,311 --> 01:24:14,051
into the band myself we we've hit this point in bitcoin culture where people have realized there's

908
01:24:14,051 --> 01:24:23,111
a market for certain topics overlapping with bitcoin and these guys jason and fundamentals

909
01:24:23,111 --> 01:24:29,972
they believe that fish has a lot of overlaps with bitcoin so uh they frequently do podcasts

910
01:24:29,972 --> 01:24:38,631
tying those two topics together and it's interesting um thank you jason uh sean 1000

911
01:24:38,631 --> 01:24:41,012
sat says Odell confirmed

912
01:24:41,012 --> 01:24:42,012
still on Twitter.

913
01:24:43,911 --> 01:24:44,411
Yep.

914
01:24:46,171 --> 01:24:46,891
Odell

915
01:24:46,891 --> 01:24:47,571
has been

916
01:24:47,571 --> 01:24:50,871
sleuthily interacting with

917
01:24:50,871 --> 01:24:52,732
Twitter via the 1031

918
01:24:52,732 --> 01:24:53,752
account.

919
01:24:55,431 --> 01:24:56,791
How dare he?

920
01:24:56,992 --> 01:24:58,951
Yep. Tom, last one

921
01:24:58,951 --> 01:25:00,831
chair, 1000 sats, gray

922
01:25:00,831 --> 01:25:02,691
rip. Thanks, chair.

923
01:25:04,651 --> 01:25:06,371
Average Gary, 1000

924
01:25:06,371 --> 01:25:08,091
and Satz says three

925
01:25:08,091 --> 01:25:10,571
heart hand emojis.

926
01:25:11,391 --> 01:25:12,651
Oh, man. That's a little

927
01:25:12,651 --> 01:25:13,732
shit right there.

928
01:25:15,191 --> 01:25:16,551
Well, we're going to

929
01:25:16,551 --> 01:25:17,631
get the Average Gary.

930
01:25:19,211 --> 01:25:20,531
He's interested in coming on

931
01:25:20,531 --> 01:25:22,311
the podcast, so that'll be a good interview.

932
01:25:23,071 --> 01:25:24,411
Average Gary's got high energy.

933
01:25:26,891 --> 01:25:28,651
237 Satz from GodSat.

934
01:25:28,931 --> 01:25:29,752
Thank you, gentlemen.

935
01:25:31,071 --> 01:25:31,772
Thank you, GodSat.

936
01:25:32,211 --> 01:25:34,211
Yeah, he always boosts

937
01:25:34,211 --> 01:25:36,311
me. There's a couple of people

938
01:25:36,311 --> 01:25:42,191
in that list that boosts me but god's death is is always there and wartime always boost uh my

939
01:25:42,191 --> 01:25:50,772
podcast too i love these guys these nostril guys are great they're they're people i think a lot of

940
01:25:50,772 --> 01:25:55,732
the people that are really excited about nostril are people that are excited about using bitcoin

941
01:25:55,732 --> 01:26:02,171
and that's kind of a rarity in some ways it's i wouldn't say there's less people that are like

942
01:26:02,171 --> 01:26:07,911
that i think it's just a in the differing demographic growths in bitcoin it's one of

943
01:26:07,911 --> 01:26:19,451
the smaller ones uh wartime 133 sats two dynamite emojis pleb institute 121 sats hilarious episode

944
01:26:19,451 --> 01:26:25,031
i appreciate how adult tried to keep a serious face when robo cop voice pulled his absurd

945
01:26:25,031 --> 01:26:29,831
questions out of nowhere i would definitely tune in again if i had absolutely nothing to do with my

946
01:26:29,831 --> 01:26:34,551
time who's robocop voice is that you or is that me

947
01:26:34,551 --> 01:26:42,011
yeah he has to be more specific he probably you can't tell the difference yet he's a new listener

948
01:26:42,011 --> 01:26:49,232
what do you think the pleb institute is is that a real institute do we have a new institution here

949
01:26:49,232 --> 01:26:55,272
we all need to be accreditation you probably know this guy oh hell yeah absolutely pies

950
01:26:55,272 --> 01:27:01,992
121 sats salute emoji mushroom emoji strong arm emoji

951
01:27:01,992 --> 01:27:08,391
100 sats from dtc on board three thumbs up

952
01:27:09,131 --> 01:27:17,611
south side dave 100 sats stay humble and let core devs have sex smoking emoji so

953
01:27:17,611 --> 01:27:19,891
what's your opinion?

954
01:27:20,051 --> 01:27:21,992
Should core devs be allowed to have sex?

955
01:27:23,331 --> 01:27:24,591
Oh, core devs.

956
01:27:24,711 --> 01:27:27,851
At this point, the core devs need to get laid.

957
01:27:29,451 --> 01:27:32,531
They need a blowjob worse than anybody else

958
01:27:32,531 --> 01:27:33,972
on the face of this planet right now.

959
01:27:34,051 --> 01:27:35,851
I mean, these guys are just...

960
01:27:36,911 --> 01:27:38,772
They're going after the knots guys.

961
01:27:38,891 --> 01:27:41,351
The knots guys, they need to get laid too, by the way.

962
01:27:41,472 --> 01:27:43,691
I mean, everybody needs to go to a strip club,

963
01:27:44,272 --> 01:27:45,691
lay a bottle of bills around,

964
01:27:46,051 --> 01:27:47,511
and have some fucking drinks,

965
01:27:47,511 --> 01:27:49,671
because this shit needs to end.

966
01:27:49,811 --> 01:27:50,551
Cheers to that.

967
01:27:51,472 --> 01:27:54,831
Is that where it ends the debate here?

968
01:27:55,292 --> 01:27:58,051
Yeah, sex always ends a debate.

969
01:27:58,851 --> 01:28:02,492
So the strip club is the key to having sex in this scenario.

970
01:28:02,992 --> 01:28:03,511
Exactly.

971
01:28:05,651 --> 01:28:07,311
Sex, drugs, and rock and roll.

972
01:28:10,311 --> 01:28:11,591
That's why we have it.

973
01:28:12,272 --> 01:28:15,051
Strippers to the left, drugs to the right.

974
01:28:15,051 --> 01:28:22,691
so kind of closing out the episode i'm curious uh so i believe your your main monetization

975
01:28:22,691 --> 01:28:28,272
uh strategy for your podcast is uh value for value correct yeah

976
01:28:28,272 --> 01:28:35,811
are you pretty excited about the uh nostor integration that found and did

977
01:28:35,811 --> 01:28:42,732
yeah yeah i am it's just going to take a while for all this stuff to to to catch fire you know

978
01:28:42,732 --> 01:28:44,951
It's like it's new.

979
01:28:45,431 --> 01:28:46,851
People don't understand it.

980
01:28:47,131 --> 01:28:48,391
People are used to commercials.

981
01:28:49,492 --> 01:28:54,371
I mean, we're all being pioneers here.

982
01:28:54,371 --> 01:29:02,472
I mean, we're literally treading into brand new parts of humanity that we've never explored before.

983
01:29:03,031 --> 01:29:05,551
And it's going to be interesting to see how it rolls out.

984
01:29:05,651 --> 01:29:08,571
It's just going to be very painful, and it's going to take a long time.

985
01:29:08,911 --> 01:29:10,752
I think it's so cool what they did.

986
01:29:10,752 --> 01:29:16,752
i'm a huge fan of it to be able to combine like because i scroll i scroll through nostor and i

987
01:29:16,752 --> 01:29:24,772
just see my episode over and over and over again with boosts attached to it and as far as a

988
01:29:24,772 --> 01:29:32,511
discoverability standpoint as a content creator it's it's awesome because i think a lot of people

989
01:29:32,511 --> 01:29:38,972
that are engaging the value for value ecosystem are disadvantaged as far as discoverability in

990
01:29:38,972 --> 01:29:45,492
a lot of ways uh because they're putting more time and effort in these platforms that may not

991
01:29:45,492 --> 01:29:52,931
have a larger audience but you get in front of the people that are interested in spending bitcoin

992
01:29:52,931 --> 01:29:57,772
engaging in the value for value ecosystem and it's cool it's i think it's really cool

993
01:29:57,772 --> 01:30:01,252
i'm a huge fan of it i i see a lot of potential for it

994
01:30:01,252 --> 01:30:11,351
yeah i love the guys over over at fountain and uh the guys at pod home you know uh really

995
01:30:11,351 --> 01:30:18,311
integrating the podcasting 2.0 features uh like i said it's we don't know where this is going to go

996
01:30:18,311 --> 01:30:26,772
but it's got a bright future that's for sure yeah i think the biggest danger for us is if the

997
01:30:26,772 --> 01:30:32,171
the broccoli haircuts uh try and create something like fountain but with solana meme tokens

998
01:30:32,171 --> 01:30:38,252
don't give them any ideas please for the love of god

999
01:30:38,252 --> 01:30:49,111
your little cardano mentee uh maybe could open a fifth business no no i will not allow it well

1000
01:30:49,111 --> 01:30:54,691
david i really appreciate you coming on the show uh you got any uh closing thoughts for our

1001
01:30:54,691 --> 01:30:56,931
listeners before we wrap this one up?

1002
01:30:57,131 --> 01:30:58,931
Learn how to have fun staying poor.

1003
01:30:59,511 --> 01:31:01,011
If you can do that,

1004
01:31:01,631 --> 01:31:02,752
then the resilience,

1005
01:31:03,071 --> 01:31:04,931
you don't even need to be resilient at that point

1006
01:31:04,931 --> 01:31:06,031
because you're bulletproof.

1007
01:31:07,492 --> 01:31:12,111
And the second thing that goes along with that is

1008
01:31:12,111 --> 01:31:16,531
we have to discover for ourselves what wealth is

1009
01:31:16,531 --> 01:31:19,711
and not what somebody told us what wealth is.

1010
01:31:20,351 --> 01:31:22,551
Because ever since you've been born,

1011
01:31:22,551 --> 01:31:26,391
and somebody somewhere is telling you what you should think wealth is.

1012
01:31:26,951 --> 01:31:27,931
That's the trap.

1013
01:31:28,151 --> 01:31:28,451
Hell yeah.

1014
01:31:29,191 --> 01:31:31,331
Guys, head over to the Bitcoin AM podcast.

1015
01:31:32,272 --> 01:31:34,211
It's the best place to get your news.

1016
01:31:34,811 --> 01:31:38,071
Besides the Beagle Weekly, of course, but it's a very different type of news.

1017
01:31:38,071 --> 01:31:42,151
Headphones on, volume up.

1018
01:31:42,851 --> 01:31:45,732
Headphones on, volume up.

1019
01:31:46,831 --> 01:31:50,311
I came for the money, came for the gains.

1020
01:31:50,311 --> 01:31:53,911
I wanted a limbo and side chips on planes

1021
01:31:53,911 --> 01:31:57,371
But after a while, my NPC brain

1022
01:31:57,371 --> 01:32:01,091
Became obsessed with the immutable chain

1023
01:32:01,091 --> 01:32:05,472
40 hours per week

1024
01:32:05,472 --> 01:32:06,752
40

1025
01:32:06,752 --> 01:32:12,691
40 hours I seek

1026
01:32:12,691 --> 01:32:13,911
40

1027
01:32:13,911 --> 01:32:19,792
40 hours per week

1028
01:32:19,792 --> 01:32:20,992
Party

1029
01:32:20,992 --> 01:32:23,551
Party

1030
01:32:23,602 --> 01:32:26,842
Three hours I seek

1031
01:32:26,842 --> 01:32:28,162
Forty

1032
01:32:28,162 --> 01:32:30,422
And that's just the start

1033
01:32:30,422 --> 01:32:38,202
Difficulty adjustment

1034
01:32:38,202 --> 01:32:42,562
Turn the world upside down

1035
01:32:42,562 --> 01:32:45,142
And breed love and save the drop

1036
01:32:45,142 --> 01:32:49,602
A track called thermodynamically sound

1037
01:32:49,602 --> 01:32:52,262
Before I could notice

1038
01:32:52,262 --> 01:32:56,302
My path hadn't set, I was orange with so hard

1039
01:32:56,302 --> 01:33:01,562
I was a national security threat

1040
01:33:01,562 --> 01:33:08,982
40 hours per week

1041
01:33:08,982 --> 01:33:10,322
40

1042
01:33:10,322 --> 01:33:16,142
40 hours I see

1043
01:33:16,142 --> 01:33:17,362
40

1044
01:33:17,362 --> 01:33:22,362
40, 40 hours per week.

1045
01:33:24,002 --> 01:33:29,002
40, 40 hours I seek.

1046
01:33:31,142 --> 01:33:42,126
40 and that just the start Now I in a podcast studio

1047
01:33:42,126 --> 01:33:44,406
Two days a week

1048
01:33:44,406 --> 01:33:48,326
I haven't missed a meetup

1049
01:33:48,326 --> 01:33:51,446
In 21 weeks

1050
01:33:51,446 --> 01:33:55,686
Now I've picked a conference

1051
01:33:55,686 --> 01:33:57,806
Over my own wedding

1052
01:33:57,806 --> 01:34:02,726
I'm so far down the rabbit hole

1053
01:34:02,726 --> 01:34:05,306
I don't see it ending

1054
01:34:05,306 --> 01:34:13,826
40 hours per week

1055
01:34:13,826 --> 01:34:15,226
40

1056
01:34:15,226 --> 01:34:20,926
40 hours I seek

1057
01:34:20,926 --> 01:34:22,226
40

1058
01:34:22,226 --> 01:34:28,006
40 hours per week

1059
01:34:28,006 --> 01:34:29,166
40

1060
01:34:29,166 --> 01:34:34,966
40 hours I seek

1061
01:34:34,966 --> 01:34:39,926
That's just the start