Right now, all you have to worry about is how are you going to stack more corn?
Because while everyone else is freaking out, you have an opportunity.
And again, we talked about this last time.
It's like if you are here right now and you're listening to this and you're aware of this,
especially if you already own some sats, fantastic.
You can get some more cheaper than you could get them yesterday and the day before and the week before.
You don't own any Bitcoin.
Like, wow, you've been gifted a great opportunity.
You didn't have to buy sats at $126,000 per Bitcoin.
You can buy them at $90,000.
That's fantastic.
That's a great deal right there, in my opinion.
Go back to the COVID crash, right, too.
How many people look at the COVID crash when Bitcoin went down to $3,000?
And guys, that wasn't that very long ago.
That wasn't that long ago.
And everyone goes, oh, man, I wish I could have bought them.
Most people didn't.
They were scared shitless of everything that's going on in the world.
Those moments will come again.
And this is like a mini version of that right here as well, too.
It's the exact time when you should be stacking.
Guys, for anyone who's listening right now, Nathan and I were not anticipating having another impromptu Bitcoin is crashing.
So soon after our last Bitcoin is crashing live stream.
But here we are again.
Bitcoin is crashing.
Piff, poff, whiffy, wang.
woo why am i hodling uh nathan how are you feeling this fine evening i'm feeling pretty good i'm
feeling pretty good but it is still i didn't expect to see the eight handle so i'm looking
at it right now at 89 959 and we just bounced above 90 and then back down here i'm feeling i'm
feeling all right i'm feeling okay with it but for anybody there's a lot of people who their uh
their cost basis is quite a bit above where we currently are and even you know i was talking
with some people earlier today about it looking at it in percentage terms it's not that bad like
28% or probably a little bit more than that now right now. But we're down on the year. I can see
year to date down 3.66%. We're down on the year. It is quite a percentage drop and nothing outside
the realm of Bitcoin's normal history. But like just stop and think for a second, like that is
35k off the top. That is a large nominal value. It's gonna have some psychological impact. I mean,
for it's gonna be a lot of people's net worth, even if they're Bitcoiners, too, you still see
that it might still sting a little bit. And to put it in perspective, right, that's basically almost
We dropped over the last little while almost double, if we go to 85, almost double the 2017 top, right?
So we took that 2017 all-time high, times two dropped down over a couple days.
Well, that's kind of the wild thing.
I think we talked about this the last time.
It was only a couple days ago.
It feels like it was just yesterday because it was almost just yesterday.
We talked about this, I think, just that idea that with each successive order of magnitude movement upwards with Bitcoin,
any dips, like the previous all-time high just becomes a rounding error.
In this case, actually, I guess previous all-time high, like 69,000.
So actually, I guess that's not really a rounding error anymore.
But to me, that just says, I don't know.
We've got a long ways to go.
Bitcoin is going to go up and to the right with a lot of volatility, obviously.
And it kind of feels like, I mean, I don't want to give them too much credit, but I also do.
The 58K gang, it feels like it is a magnet.
Now, I don't know if we go back to 58K.
Maybe we tag 85K.
I'm not sure.
I'm not a, you know, astrology for men TA guy.
Like, it's not my shtick, you know.
I'm a talking out of my ass, you know, pleb slop kind of guy.
Exactly.
But boy, it's interesting because right now I feel like also the folks that are probably panicking the most right now are obviously, understandably, people who got in.
Maybe they bought the top.
I don't know how much retail was actually like, quote, retail, which is just like an interesting word.
I don't know how many plebs, new plebs, actually came in right at the $126K, whatever it was, top, and started buying.
And it never really, and we talked about this a little bit last time, it never really felt like there was this huge influx of new plebs.
Maybe there were and they just weren't on Bitcoin X or Noster.
I don't know.
But it just, it still feels like, again, nothing has changed.
We've just had like an insanely bullish couple of weeks with medium of exchange news coming out.
And to me, that's like some of the most bullish stuff.
Like another company buying MicroStrategy bought what?
8,000 more Bitcoin today?
Yeah, I just saw that. You know what's funny? I scrolled past it. That's what the sailor buys have gotten to now. It's like, oh, he bought. And even look at the amount. It's just like, continue on away. Sure, sailor stacked.
Yeah. Well, you know, did you see actually just just prior to us hopping on here? I mean, maybe a couple hours ago, I saw Bukele announced that El Salvador had just bought an additional thousand Bitcoin.
And I saw total stack their total stack is like seven thousand or something like it's like their total stack is like less than sailors by today was.
But like they're not just drawing on infinite credit and different all these different instruments, too. Right.
Like they are a nation state who is doing their best to buy as much as they can.
And like this is like a pretty – it's got to be one of their biggest, if not their biggest buys, at least certainly in a very, very long time.
I believe it is, yeah.
They've been spending a Bitcoin a day for a while, and now it's like a thousand of them in a day.
Like it's a lot of corn.
It's a lot of corn.
I don't know.
It's interesting.
It's interesting timing too, right?
Because it's right when we're dropping down too.
Like so Blue Kelly is a master of marketing.
I have mixed feelings.
I don't really know which way to go.
like i'm undecided on el salvador and i get kind of different things from different directions
but have you been down there real quick i have not been down there to check it out yet have you
been did you just pull a have you been douglas murray on me i didn't actually okay fuck that
fuck that um have you been god that i didn't even mean to but now i feel like a real douche
douche canoe um no but okay to be i meant that more as like i was not trying to have a got you
more so like i think you'd really enjoy it i think i went down yeah i went down there twice in 2022
carl and i did unintentionally went twice uh went went the first time very intentionally and then
we're like oh i hope we can come back sometime soon and we came back like a couple months later
for adopting bitcoin and we didn't get a chance to go back again until this past january and it's
amazing to see how much has changed uh really we can get into that a little bit but i digress
sorry to get us off topic but continue like no in the sense that like it was just it's very
interesting that like he put he did it right when all the attention was going to be on the price so
if nothing else i think he's just trying to flash his conviction and i don't i don't begrudge him
that at all but funny enough speaking of things i've been searching so i'm always pulling for
clips and things for the thursday show and trying to pay attention to what's going on
i think what we're seeing in bitcoin isn't reflective of bitcoin at all i took a brief
look at the market earlier today and it wasn't like read across the board but it didn't look
good right there are a few up on the day but it's kind of neutral to down across the the u.s markets
And then I still got to tease apart exactly what's going on, but the Japanese bond market looks like shit.
And it's like, OK, what's going on there?
So, again, if I was going to try and read macro tea leaves by the small amount of information I've absorbed from interviewing people much smarter than me,
is I think it's very possible Bitcoin is just smelling something that's coming.
We're just seeing a little bit of cracks in the monetary system.
The reason it feels so weird is because it has nothing to do with Bitcoin.
It's just people getting liquidity and getting to safety.
I feel like Japan always gets blamed.
It's always like, you know, curve control.
Japan is always getting the short end of the stick on this.
Maybe it's their very harshly declining birth rates.
I don't know.
But yeah, I mean, so I think that that's an important thing to point out, right?
Is that Bitcoin, as it becomes more embraced by Wall Street, by the traditional finance system, it is necessarily going to be more susceptible to liquidity cycles, right?
And I think there's a lot of people that I think have made a very compelling argument that the four-year cycle never meaningfully existed and that really it was just all driven by macro liquidity cycles.
And then there's the other side of things which says, well, obviously the four-year cycles matter because the halving matters because the supply getting cut in half, exponentially decreasing every four years.
How could that not make a difference, right?
And honestly, the truth is probably somewhere in the middle.
Like, of course, a bunch of money, whether a bunch of money gets injected into the global economy out of thin air, of course, that's going to matter.
Right. Of course, more of that's going to flow into the only truly finite asset that there is.
That being said, it's like I'm not totally convinced that the four year cycles have never mattered.
I just like from the sense that I do think the halving matters more than as just a mark, I quote, marketing event, which I've seen thrown around.
It's like, oh, the halving is just like it just brings attention to Bitcoin.
but like it doesn't actually materially impact anything.
And it's like, it's also hard to know
because Bitcoin is still so young
that it's like so much of this is just speculation.
Everybody wants to attribute a different law to this,
a different theory to this, a different plan to this.
But at the end of the day,
it's like maybe we just actually have no fucking clue
what's going on
because we've never had anything like Bitcoin before
and all your models are fucking broken.
And you trying to, you know, read the tea leaves
and kind of like retrospectively look in the rearview mirror
and attribute different things to Bitcoin's price movements,
it's like, I don't know, maybe that's good for engagement,
but it's not actually that meaningful.
And maybe 50 years from now, people will be like, everyone was retarded.
Like, I can't believe they thought that these things actually mattered to Bitcoin.
Like, this was just, you know, you look at the Weimar Republic chart.
I was just going to say.
You know what I mean?
Like, you look at that, it's like gold looks insanely volatile.
It's dropping off – it's going up – climbing up the mountain, dropping off a cliff, back and forth.
That's what Bitcoin looks like right now because fiat currency is a dog shit measuring stick.
And so it's like maybe we just – we want to attribute these things to whatever makes sense for our particular worldview.
But in reality, it's just fiat is being debased at an incredible rate.
Even when they're tightening, like it's not – like it's what?
It's a blip, right?
It's a little blip.
But I don't know.
I go back and forth in this.
I think we under, like, hindsight will be, wow, nobody really had a fucking clue what was going on.
Bitcoin was just repricing the entire world.
Like, I talked to Jeff Booth today also.
So I'm already coming from a mindset of, like, why are you measuring a system, a new system from a system that can't possibly measure that system?
And every time I talk to Jeff Booth, I'm just like, yeah, you're right.
You're right.
You're right, man.
Straight into my veins.
Yes, yes.
No, you're completely right.
And the thing that he throws out too, because I was actually – it's funny.
I was going to reference JetPoot today.
I also had a wonderful recording today with Dr. Cruz.
I feel very savage and ready to go because that man is definitely getting after it, which is nice.
I love that cultural energy.
I want to have it back.
Well, most of the people that have Bitcoin are not Bitcoiners.
I think that's pretty clear, right, especially with ETFs and other shit built on top, which means that most people are pricing it from the old system, which means they're going to have a completely – they're going to be susceptible to all the problems.
associated with it and have a skewed view. So we can't, it's like the whole like market
efficiency hypothesis. It's complete bullshit. Markets are not high efficient. They're never
efficient. There's always going to be asymmetries and changes. And I mean, trying to figure out
whether or not the four year cycle had an impact. I think I can say definitively it did. But the
question is to what degree? Because all I have to do is have more than 0.001% of an impact that it
had. So it definitely had an influence. It's just the question is how much, how often, what else was
kind of in play. It's like when people try to figure out, like, they try to determine someone's
motive. It's like, you can keep reaching back kind of recursively. Well, this thing happened in their
childhood, and this thing happened later in life. It's really hard to pin down definitively what led
to something. Hell, we can't even call the weather, like, two months out, right? We have no clue.
We can't even call the weather, like, two minutes out, honestly. Well, depending on where you live.
We're bad at predicting things, especially on long timescales.
Yes, we feel the need to because we feel this need to control, right? Like it gives us reassurance. In the same way that having like Bitcoin savings makes you feel safe about the future, having some understanding or expectation gives you comfort. So we're always going, we're pattern recognition machines, right? We're always going to try and look for it. And yes, they have some value. And it's, of course, like Bitcoin up and to the right, it's directionally correct. But what's going to happen along the way? Like there's no way that the monetary system doesn't implode and Bitcoin rips down with it because most people still don't understand it. So they'll just say it's another asset, they'll sell it.
The ones who do get it will be the big winners that come out on top.
And really that is like – it's the key thing we were talking about last time that we got to make sure that we drill home.
I was thinking back because we were talking about the halving as well too.
The last halving, I – this is why I'm probably – this is why I'm very calm and collected and in my space right now.
I am not at the hodl stage.
I'm at the accumulation stage.
I'm hodling the whole way up, right?
I'm spending locally in circular economies and things too.
But I'm in the accumulation phase.
And I actually had like a bit of a moment at panic at the last halving because I thought like this is going to run away from me.
This is absolutely going to run away from me, that my stack will maybe be measured in Bitcoin like 10% bigger by the time I'm done.
But my earning potential wasn't going – I was like so afraid that my excessively – that disposable income would not nearly keep up with the pace of Bitcoin.
Guys, we've got more time.
The whole year has been reset.
Take a breath.
Relax.
It's your chance to accumulate more.
It's the best thing that could have happened to you if you're one of these psychopaths listening to us right now, because that means that you get it.
So it hurts in the short term.
But my God, are you going to be relieved that you had more time to stack while you could while everybody else was still figuring it out?
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Yeah, I have felt that same moment of panic.
I feel like I feel that same moment of panic on a fairly regular basis.
It's not just around this last having I really did.
Around the prior having in 2020, I was just really going down the Bitcoin rabbit hole.
And so I felt the panic then, but it was a different kind of panic.
It was actually in some ways, out of some ways worse, some ways not quite as bad because I didn't understand as much at that point.
But I understood enough to be like, shit.
And the constant feeling of you missed the boat.
The constant, constant feeling of you missed the boat.
And just being like, I've just got to do whatever I fucking can.
This time around, it's like I understand even more.
And so, and I've also been, you know, DCAing for longer, stacking for longer, smash buying when I can.
So I was just saying before this, you know, saw a limit order hit at $89,999.
And I was like, wow, sick.
But then I was also like, oh, damn.
Oh, wow.
We went into the 80s.
Okay, fine.
But like my limit order hit.
Amazing.
Like that's fantastic.
I don't know.
It's interesting.
uh i'm not you know american american hodl hodl talks about this idea of like the bit life crisis
where like you get to that certain point where it's just like any work that you're doing is
almost meaningless because your your net worth is like fluctuating so much in any given day
that like you know your bitcoin stack is so massive like i'm not i'm not i'm not there yet
you know i'm not obviously i'm not even close to american uh american hodl because that man
stacked like a fucking psychopath while i was still i don't know picking my nose and doing stupid
stuff uh like as an adult you know to clarify i wasn't a child you know but uh just was being
worthless and he was busy riding a moped yeah i love that story his chairs and stacking like a
psychopath and that shit pays off and and that's i think the important thing is that the longer you
go in this, the more you realize you haven't missed the boat. You will never catch those OGs
just because it's, it's not going to happen, but that shouldn't be your benchmark, right?
The one thing about getting into Bitcoin that I realized is that it is really easy to start
hanging out with Bitcoiners, you know, at conferences and whatever, and be like,
holy shit. I am, I'm like, I'm so poor because these people, like these people have more Bitcoin
And then it doesn't matter if I – I need to start a company that is going to be a fucking unicorn for me to catch these guys, right?
And sell it.
Yeah, and sell it and then do it a couple more times.
But that's okay.
Then you realize like, oh, but it doesn't matter because literally all of this is relative.
What matters is how well are you doing at saving for your future, your family's future?
If you have a family, if you don't have a family yet, hopefully if you're a Bitcoiner, you're trying to build one.
Bitcoin is giving you the hope to do so and the ability to do so.
But you can't have that mentality of like, I'm too late.
I missed the boat.
I'll never catch these guys because that's just self-defeating.
You have to have the mentality of what can I do to get myself and my family as well positioned for the future as possible?
And the answer is just create value.
Stack as hard as you fucking can.
and live your life, right?
And like these short-term, because this is what this is.
Sure, is this like a little probably unexpected
depending on who you talk to?
Like if you just follow a lot of Caps Lock, Moon Boys,
this is probably very unexpected.
If you don't spend as much time following those people,
you've just been living your life,
maybe you just happen to check the price chart
and you realize, wow, sats are on sale today, right?
This is a good time for, you know,
my DCA is going to get me a few more sats
than it did yesterday.
That's great.
I don't know.
It's an interesting point in adoption where you have on a day where Bitcoin is, quote, crashing down to 89, whatever it got to.
512, 469.
Okay.
Should have set that limit order a little bit lower.
You also have an American publicly traded company, Strategy, announcing they bought 8,100 something Bitcoin.
making their total almost 650,000 Bitcoin, which is just a mind-boggling number.
And also at the same time, you've got a small little nation state that just pulled itself up out of the grips of gang violence,
has completely changed its story, changed its future for its people, and just stacked over 1,000 Bitcoin today, El Salvador.
At the same time when sentiment is seemingly so bad, at the same time when just like a week ago,
4 million plus merchants just got the ability to be onboarded to Bitcoin by pressing a little
on-screen toggle. Like there's so many things that are happening right now that make me so
insanely bullish. And honestly, I just refuse to succumb to the bearish fear mongering. Like
I tweeted this the other day, but when I get the most bullish is when all the gold bugs and all the
fiat economists and all the fucking retards who love to dunk on Bitcoin come out in full force.
And they're like really dunking hard, like told you Bitcoin was, you know, they've been saying
Bitcoin is going to go to zero since it was a thousand dollars. But like now that it's down,
you know, crashed down to 90,000, they're really coming out strong. Like the Peter Schiff, you know,
followers. And it's like, that makes me, that makes me bullish. Like when they are so bearish,
so gleeful, so happy.
I'm like, okay, that's a good signal.
It's a really good signal that now is going to be a fantastic,
in retrospect, a fantastic time to buy.
Okay, mini rant finished.
No, it's absolutely beautiful.
It's funny that you touched on signal because that's exactly it.
If you're feeling, there's kind of a few things.
If you're feeling really down in the dumps,
it's like there's probably an element of like you're not where you want to be yet.
It's like with you and I, we've got the family and things as well too,
so we're not relying on our Bitcoin stack to help us levitate to that position.
we're already building that as well.
And that makes it a little bit easier.
And I can fully admit that.
Even if I didn't have my Bitcoin, my life is still good,
my friends are good, my family is good.
So I've got a foundation that's pretty strong there.
But you're right in that if you're seeing a whole bunch of people dunking on it
and really making you nervous,
it's probably a whole bunch of bad signal as well too.
That you're not putting your time and effort into things
that are helping you understand this better,
helping you grow as a person,
helping you improve, helping you stack more.
And even going back to the OG's comment,
It's funny because if you're always comparing yourself to other people, it's always just going to make life miserable.
There's always somebody better looking than you, faster than you, richer than you.
It's always going to be the case.
You've got to compare yourself to yesterday and what your stack was yesterday.
It's funny because there's really no benefit to looking over your shoulder either.
You ever see those game shows where you have to get 30 seconds on the clock to get a task done?
The people that usually end up doing well, they never look at the clock.
There's no point in looking at the clock.
right that's only going to slow you down it's only going to distract you the same thing here
right and it's funny because and i i truly mean this if you're again you're here you're listening
to us you're hanging out and you're stacking bitcoin you will be one of those ogs right it's
all absolutely relative we all kind of you would have done on-chain transactions in the early days
and it was just finding its way to wall street like you can look at somebody even like a not as
like great examples of people like you look at like bill gates or like steve jobs for example
We can think of them as OGs and computers, but they probably looked like Alan Turning.
You didn't have to be there at the invention to be considered an OG in the space.
There's still tons of work to be done, a huge long line ahead of us.
You don't have to be there in the first two decades in order to get that consideration.
If you're here, if you've done on-chain transactions, if you're self-custody, most people will never self-custody.
Sorry, not on-chain at least.
We might be on the higher protocols, right?
But if you're stacking sats, well, everyone's freaking out because you know what you have and you know where you're going and you're actually using Bitcoin and you're holding it, you're holding your key yourself.
You will be an OG But let look around all your friends groups You probably the only one You probably the only one If you have a Bitcoin or friend you extremely lucky But if you the only person in your group If you didn meet them through Bitcoin Correct Like if you just had a Bitcoin
or friend already. Yeah. Yeah. 100%. Most people don't have a Bitcoin or friend. Maybe one that
comes along for the journey if they're lucky, but that's it. And so if you're the only one in your
group who's figured this out, who's stacking stats right now, you are going to be an OG even if you
don't consider yourself one right now. And people will look back at you the same way we look back
at Hoddle on his little moped driving through Vegas, stacking stats and go, fuck, I wish
I would have done that.
People are going to look at you and go, shit, 89, 648?
I wish I would have done that.
It's actually so true because, again, like each cycle, if cycles exist, okay, this is
bad, but I'm just going to keep laboring under the delusion that cycles exist.
Each cycle, you have these opportunities.
And James Cech has a lot of – I love his approach to things because he also breaks down something that's really important and why he talks about like you should just be DCAing.
Like for the vast majority of people, like because even he has said this, like looking at all the indicators he looks at, doing all of that, even he can't time things perfectly.
And so he will just DCA.
And maybe he smash buys when it's hit certain levels.
He has some limited set, but like mostly he's just DCAing.
But the reason you do that is because if you are not in the market,
if you're not in the market exposed in some way during like 10 days of the year,
maybe 10 days of the year, that's when Bitcoin does all of its moving.
That's when Bitcoin rips your face off.
And if you're not there, you miss out on that.
Like if you're trying to time it, if you're waiting,
oh, I'll wait for it to go lower again.
Like, well, that time that you decide to wait for it to go lower
is when it doesn't go lower again, right?
That time that you decide to like, I'm going to sell my few sats
and I'm going to buy back lower.
that's when it that's when it rips your face off like that's when you buy back higher that's when
you buy back at twice the price like man these these moments are are seem very fleeting because
they they kind of are it's like we also we spend so much time either going sideways or going down
it's like it it it's just long enough for you to forget what happens when bitcoin really moves up
like when Bitcoin really moves.
And, you know, again, Bitcoin doesn't care, right?
It's not trying to lull you into a false sense of security.
That's just how it happens to work, right?
But, boy, it sure does.
It sure does.
And it's really easy to get complacent.
It's really easy to think, that's fine.
You know, I'll just, it's going to be down here forever.
Like, maybe it's going to go to lower.
Maybe it's going to go to 58K.
And I don't know, maybe it fucking will.
You have no fucking idea.
I can see a wick.
Two seconds, right?
I mean, honestly, that'd be sweet.
I should probably set some limit orders at 58K.
That would be amazing. It's a magnet, whatever. But man, again, you should probably just be DCAing and doing whatever you can to try and create more value.
And whether that be generating more fiat to stack more Bitcoin or finding ways to get paid in Bitcoin for doing things.
And there are all sorts of ways to do that now, which is amazing. You should be doing that.
Like you should be trying your utmost to do that.
Because again, like, I mean, at least I think for both of us, it's like we're no longer stacking for ourselves.
It's like we're stacking for our families.
We're stacking for the next generation.
And like if we do things right, the generation after that and after that.
And not so that we, you know, they put up a monument to us and a statue.
No, just so that we do the best that we can.
because we were born before Bitcoin existed.
Yep.
And now Bitcoin exists,
and we're watching it reprice the world.
Shame on us if we do not act on that.
Like, shame on us.
But luckily we are,
and we're Bitcoin podcasting about it,
so we're doubly acting on it.
So, you know, cheers.
Of course.
Cheers.
Let's allude to that.
Quick one.
You know, it's funny.
I have a good friend who's definitely not my co-host, Gary, during the bear market there.
When it was at $16K, he was sitting there going, it's going to $12K.
It's going to $12K.
I'm going to hold off on that.
I'm not going to buy it.
It's going to $12K.
Guys, I never went to $12K.
Definitely not my co-host, Gary.
I never got his Bitcoin at $16K.
There's no point in timing the market.
It won't matter in the long run.
And you're right.
You're not smart enough to get it.
And the other thing, too, but you are smart enough to get Bitcoin.
This is the key thing.
Bitcoin itself
and I was like
Bitcoin self-custody
is not that hard
and understanding Bitcoin
is actually all not that
difficult either
it's complex
there's a lot of moving parts
but each one individually
is not actually all that difficult
it's kind of like a car engine right
you know
taking gas
ignited
it's not too bad
however
understanding Bitcoin is
the reason that we're seeing
the price reflected right now
is basically a reflection
that nobody understands
what they hold
they don't
if they did
they wouldn't do it
and so putting in the time and effort
into understanding that
and getting the conviction
really makes the difference
And if you do get it, like that's not easy.
It requires going against what?
How many years of central school education, going against the entire peer group, your family, business, marketing, TV, presidents, politicians.
You take your pick, right?
Everybody out there is working their ass off for fiat and driving themselves insane.
You're the first one to go like, I don't want that.
I want this thing.
Of course you're going to look crazy.
And of course most people won't do it.
So like, again, cheers to you if you're here.
But you're going to see – this is not the worst.
There's going to be worse.
I can almost guarantee it. It's not like, OK, we're going to have a correction down to 58K and then it's smooth sailing from here. Get used to it. Shit's going to hit the fan at some point in time.
If we actually have a major – sorry, when we actually have a major fiat currency collapse, it's going to be reflected in panic. It's going to be reflected in the price.
If MicroStrategy ever gets sold off for parts or assumed control by the US government, that might be reflected in the price.
We've got the quantum FUD, I think, is not really a big deal.
I think we have a lot of time to prepare for it.
But people often talk about, well, what do you do about the older coins, like Satoshi's
coins and these things?
My stance is very firm and very simple.
I kind of take it's just from a private property rights, just kind of extrapolating Austrian
economics, is that I look at it kind of like sunken gold on the bottom of the ocean.
If you had a ship that sunk and someone actually dove down and got it, well, they got it.
They didn't inflate the supply.
It wasn't a violation of the property rights.
So there's a good chance that Satoshi's coins get unlocked and sold at some point in time.
The market's going to really fucking puke when that happens.
But don't worry about it.
Just get some of those.
Say that you actually bought some of Satoshi's stack.
That's phenomenal.
This is not the worst that's going to happen.
You'll have other buying opportunities.
Be happy when they come along.
The I was right moments in Bitcoin are only so sweet because they're rare.
That is well said.
I, by the way, I share the same opinion as you regarding, uh, regarding like how to handle
potential quantum threats, which is like, we, as soon as you set the precedent that you're going to
make decisions about someone else's property, cause these coins are lost, like, because then
what other, what other like lost coins do you make that decision for? A hundred percent. And as soon
as you do that, make the precedent you set in my mind is just untenable. Like that, that, you know,
And that may very well result in a fork or something, right?
Probably will.
Almost certainly.
And in which case it's going to like – I'm going to hold on to the Bitcoin that may have been – some of the coins may have been hacked by quantum but still preserves private property rights because no unilateral decisions were made versus the other side of that.
But hey, we've got some time before that happens.
I know everybody likes to doom that quantum is happening like right now, man, like right now.
It's probably way out.
But yeah, I think it's way farther out than people want to admit, which is a good thing, right?
You've got time.
Like right now, all you have to worry about is how are you going to stack more corn?
Because while everyone else is freaking out, like you have an opportunity.
And again, we talked about this last time.
It's like if you are here right now and you're listening to this and you're aware of this,
and especially if you already own some sats, fantastic.
You can get some more cheaper than you could get them yesterday and the day before and the week before.
You don't own any Bitcoin.
Like, wow, you've been gifted a great opportunity.
You didn't have to buy sats at $126K per Bitcoin.
You can buy them at $90K.
Like, that's fantastic.
Like, that's a great deal right there, in my opinion.
Go back to the COVID crash, right, too.
How many people look at the COVID crash when Bitcoin went down to $3,000?
And guys, that wasn't that very long ago.
That wasn't that long ago.
And everyone goes, oh, man, I wish I could have bought them.
Well, most people didn't.
they were scared shitless of everything that's going on in the world and those moments will
come again and this is like a mini version of that right here as well too it's the exact time
when you should be stacking if you looked if you looked at the run from like three then back up to
20 and then off to the races and you want to be a part of it same thing's going to happen here
bitcoin's not done we haven't peaked it's not over the game is still just getting going
so take advantage of it while you can and then you'll get to have those i told you some moments
that i think is actually the fundamental point is that okay you you can have basically two
you can have one thesis or another when it comes to bitcoin like you either think that bitcoin is
worthless and it's going to zero or you know negative zero is peter zayhan or zeehan or whatever
so bad god that fucking moron um or you can think bitcoin's not going to zero and if it if it's not
going to zero, it's going as far away from zero as it can possibly get. It is going to keep going
up and up and up to the right with volatility. It is going to reprice the entire world. They will
never stop printing fiat. We only have 21 million Bitcoin. As of like today or yesterday, 95%
of the total supply is out there, 5% more until the year 2140. Okay, they will never make any
more Bitcoin. They will always make more fiat. If you do not think Bitcoin is going to zero,
you necessarily must believe that Bitcoin will just keep going up into the right forever.
Now, when it hits certain milestones that we've decided to put on it with certain round numbers,
usually attributed to U.S. dollars, but if you've been measuring it in Turkish lira,
you've got a completely different set of, if you're living in Istanbul,
you've got a completely different set of measurements than folks in the U.S.
If you're measuring Canadian moose shekels, you've got a completely different set of measurements,
and on and on. The point being, if you do not think Bitcoin is going to go to zero,
if you have the conviction and you're already here and you're listening to this and you believe
that Bitcoin is going to reprice the entire world, it's going to demonetize gold, it's going to
demonetize real estate. We're already seeing this, right? We're already seeing this happen.
It's not even like you have to imagine it. You're seeing it happen in real time.
If you believe that will continue, then there's not even any question about what you do.
there's not even any question about, oh, should I, am I bearish or not or bullish?
It's like, if you can think on longer than four year time scales, you're okay.
Because it is only going one way.
And yes, it will go that way with volatility.
Yes.
And that volatility will be sometimes gut wrenching and sickening.
And you'll be like, oh God, you know, you know, should have done X, Y, Z different.
Should have timed this.
But you know what?
Like, you're not perfect.
I'm not perfect.
None of us are perfect.
None of us are, no one is perfect to timing the market, right?
And if you zoom out and you just keep focusing on not trying to time the market, but instead
just trying to create value, trying to bring in more value, and then trying to use that
value that you've created to acquire more Bitcoin, hopefully directly, you know, without
even needing to involve fiat in it, that's the best.
You're going to be okay.
Because if you can just wait a few years, if you can wait, like Bitcoin is going to
be higher.
And again, that's if you're just measuring it in this broken fucking fiat system.
Like that's the thing.
We're at a difficult time because our brains are structured in such a way that fiat is all we know.
We were born into fiat.
We're creatures of fiat, right?
Like fiat is the water that we swim in.
Bitcoin is something completely alien to us.
And now we're watching it completely reprice the world in front of our eyes,
which looks really wild happening in real time.
But like when you look back,
when you go to the year 2140
and you look back on this remonetization period,
this repricing period,
it's going to look just so obvious.
It's going to look like,
well, of course you should have bought
at any point in 2025 or 2026.
You should have just bought at any point.
In time.
Like this entire time.
And you would have, quote, made money.
But then there's the whole question,
and this is where Jeff Booth would be like,
but you're still thinking about it wrong because you're still thinking about
trying to make money off it.
And Bitcoin is the money.
Like you're not,
what you're thinking about is trying to make fiat credit off of it,
which is nothing.
And so again,
shout out to Jeff Booth for always keeping,
keeping me and everybody else grounded in that realization that you are
holding the best money and the purest form of money that has ever existed.
Like again,
shame on us if we don't wise the fuck up to that fact and do everything we can
to acquire more of it.
And then also to go and spend it and you can just replace it immediately.
And then it's not a taxable event and it's okay.
And also fuck the IRS.
There's that.
Yeah.
I lost all my Bitcoin in a boating accident.
Didn't even have any to begin with.
I'm a LARP, but if the IRS is listening, but also I fucking, I was just thinking, I was
just prepaying some taxes today and boy, that's just what a kick in the, what a kick in the
dick that is.
Just absolutely horrible.
Just a, just a kick in the penis.
That's what that is right there.
I don't know.
I digress, but we're at a beautiful time where we are aware that Bitcoin exists in its infancy.
You are not late.
You are still early.
This will reprice the entire world.
Everything will get cheaper if you save in Bitcoin.
Everything.
Forever.
All you have to do is just keep stacking.
It's that easy.
But people don't want to believe a solution can be that easy, I think.
But that's just like our fiat brains again.
You know what I mean?
No, it's like you can logically do something about not emotionally grip it yet.
Like you can say, I believe that's going to happen or logically understand it, but you don't have that emotional conviction behind it.
And it's really hard to get to that point too.
But even what you're saying, it's like you basically have two graphs kind of going on at the same time.
You have the price of everything that you possibly want in life and the current price of Bitcoin or your current stack of Bitcoin.
And over time, the price of everything that you want is coming down in Bitcoin terms.
And your stack can stay the same.
It can go down or it can go up.
And if you keep that stack going up, the time it takes before those two lines intersect and everything you want in life comes to fruition gets a little bit quicker.
And time really is the most scarce thing you have.
So you're saving yourself time and getting the things that are most important to you in life by stacking Bitcoin and just holding it and getting as much as you can.
You're closing that gap even faster.
And it's not a – you're right.
Bitcoin is either going to zero or it's just taking over everything.
There's nothing in between because it's a money.
It has no other use case, which is – like that's a feature, not a bug by far, right?
Its only value is a monetary value.
If it's not money, then it has no value, right?
Even though all that is subjective, yada, yada, yada.
It reminds me of when people say, like, you have a 50% chance of divorce.
It's like, fuck you.
No, I don't.
It's not a coin flip.
I actually impact that outcome.
I can make changes.
I can improve things.
Here's what we did beforehand.
You can skew those odds in your favor.
It's the same thing with Bitcoin.
Okay, Bitcoin's going to zero or it's going to take over everything.
Well, you can actually tip the scales in your favor.
You can stack it.
That actually helps.
You can spend it, like Walker was saying.
That helps as well, too.
You can contribute by teaching other people, telling people about it.
You can use it as a medium of exchange at your store.
You can contribute code.
You can contribute marketing.
You can contribute means.
You can start a Bitcoin podcast.
We talked about that last time.
We'll talk about it every time.
It's not something that's just going to happen.
Bitcoin is just a protocol for value communication.
We're the ones behind it.
We're the ones using the tool.
And so if you're here and you want Bitcoin to reprice everything, well, then you can contribute.
The smallest thing you can do is just hold it and use it.
But there's a lot more that you can do too.
You can impact that scale.
You can tip the odds in your favor by participating in the Bitcoin network in whatever way possible.
And that might just be as simply as like trying to have another conversation with your stubborn brother-in-law.
I don't know.
But we are the marketing team.
We are the advocates.
We are the ones that use it.
We are the ones that improve it.
We are the ones that vote on the protocol, whether you vote on the protocol or not.
We're the ones that can make new apps, new things.
I saw fucking – you're talking about El Salvador.
Pablo was just down at – what is it?
My first Bitcoin from BullBitcoin down in El Salvador.
They're doing education all over the world.
BullBitcoin just released a new recovery protocol that I saw them sending out an email about today.
Like there are people building in this space, and they're not just – they're doing it for your benefit to their benefit as well too.
When I help Bitcoin, when I work on Bitcoin, when I teach people Bitcoin, that helps me in just a magnitude of ways too.
Plus, it's one of the few things in this world that I can actually walk away and say it had an impact.
Like my family, number one, totally do.
Kids love me.
I'm a great dad.
The best dad.
The best you've ever seen.
Many people are saying.
And that I know has meaning in this world.
But my last fiat job, I can walk away from that.
There's like zero impact on the world.
But I've had the opportunity to actually educate and train people on Bitcoin and show them and teach them about Bitcoin.
And I know that will have a lasting impact.
So you can not only tip the scales in your favor.
You can have a lasting impact and a legacy.
You can get everything that you want in life, and all you have to do is fucking believe me when I tell you we're going to win.
This is just a blip.
Have the conviction.
Suck it up.
We all go through it together.
That's why we're here.
I say amen to that.
Amen, brother.
I say amen to that.
I think that it's natural that when it comes to money,
like there's a deep,
just like gut feeling that happens with all of this.
Right.
There's a reason that this,
when,
when Bitcoin is,
is crashing,
is dipping,
there's a reason it's like,
fuck,
especially when you are like as all into Bitcoin as you can be.
Right.
Like that,
that of course,
because you're watching it fluctuate.
But making that mentality shift to saying, yeah, this is like, damn.
Sure, it's more fun when Bitcoin's going up, right?
Sure, the dopamine hits, yes.
Suck it, Peter Schiff.
Suck it, you fiat economist.
Suck it, random friend who still thinks Bitcoin's a scam
and decided to buy XRP and is just a big old, like many such cases.
But I feel like when Bitcoin is crashing, when Bitcoin is dipping, that's where the real culture starts to come out.
That's when the memes get better.
That's when Bitcoiners decide, you know what, we're going to fuck all of these gold bugs and highly regarded fiat economists trying to dunk on Bitcoin.
Like, let's just eviscerate them, right?
Because we know we're going to be proven right in a little while and they'll delete their tweets.
But it's like when Bitcoin is just like chopping sideways,
that's when Bitcoiners are fighting against each other.
And again, I'm still relatively new to this.
I'm just calling out the patterns as I see them.
But when Bitcoin's chopping away sideways,
that's when you see people, Bitcoiners,
just at each other's throats, right?
When Bitcoin's crashing, it's like that's when we're,
that phalanx is formed up tight
and we are ready to just absolutely level any critics
who would come at Bitcoin.
And when Bitcoin's ripping, it's just like,
hey, now it's a party.
like, okay, who cares?
Okay, you were all wrong.
But I think that's why like Bitcoin,
like Bitcoin dipping,
like that's where the real shit happens.
And again, because that's where
the greatest opportunities are.
Like you made a great point earlier
looking back at that COVID crash,
like when it, you know,
wicked down to I think what, 35?
Yeah, some of that, 3,000 something.
Which is wild.
Like if I could go back
and stack more sats at that point,
Boy, I got the issue.
We're up 30x from there right now.
It's a 30x from that COVID crash.
Yeah, yeah.
And so that, like, boy, we would all like to go back to that.
And you know what?
That was, okay, so that was a little over five years ago.
Like, a little over five years from now.
How do you think you'll be feeling about this moment, this moment right now?
You're on November 17th, 2025.
Are you going to be looking at this and saying, oh, thank gosh I didn't buy more Bitcoin there.
because, boy, it just, no, you're going to be like, shit, shit.
Maybe it went a little bit lower.
Maybe it goes a little bit lower in the coming days, weeks, months.
I don't know.
And I don't have a fucking crystal ball.
But I can pretty much guarantee that five years from now,
if we take the same amount of time that it's been since that COVID crash down,
you go five years from now, we're sitting at 2030,
you are not going to be looking back at today right now and saying,
boy, I'm sure glad I didn't buy, you know, stack more sats.
there's just, there's no conceivable world in which that happened.
I mean, I guess there's a multiverse out there.
You know, there's a different form of reality where that happens maybe.
There's one universe where Schiff is right.
Oh, what a messed up universe that would be too.
I'm so glad we don't live in that one.
I'm so glad we live in the universe where Peter Schiff has been wrong
for over a decade about Bitcoin and still somehow thinks he's the,
you know, he's the genius out there.
I mean, truly the levels of hubris on that man are shocking.
I'd love to have a beer with Peter Schiff, though, I'll say.
I would love to have a beer with him.
I would love to find out, like, just me and him, we get maybe, we get like 21 beers deep.
Yep.
And I just want to find out if he's actually, if he's just full of shit or, and like this is all just a big game to him, a big act, like he's been stacking Bitcoin, or if he truly believes this.
Like, I'm genuinely curious.
So, Peter, if you're out there, I'll fly down to Puerto Rico.
We can – 21 beers each on me.
After 21 – we don't say a word until we drink that 21st beer.
After that 21st beer, we start talking.
We just see what happens.
Maybe we podcast about it.
It's a silent podcast for the first approximately three hours it takes us to drink those 21 beers.
Seven beers an hour for three hours.
Then the podcast starts having audio.
You just got Jamie in the background with a little counter like one, two, three on screen.
Honestly, I'd be super down for this.
It sounds like a good time to me.
But yeah, again, I digress.
But it's – you have a great chance right now.
Like when everyone, all the fucking mid-curve mainstream normie talking heads are telling you you're wrong,
it's usually a pretty good indication that, wow, it's a nice time to stack a few extra sats if you can.
But the biggest problem is just having the dry powder.
It's like, where are you guys all getting this dry powder from?
Fuck.
You guys got Fiat?
Like, what the hell is happening here?
Damn it.
We'll take the flip side of the coin, too, right?
Like, how – I would actually be relatively apprehensive if everybody was talking about it, right?
Like, of all my friends and family and colleagues and cab drivers, I would be a little bit concerned that either one – because especially right now, let's just say it happened like 2025 or 2026.
It's kind of one of two things.
We're at a top.
Things are frothy and it's about to come down hard and fast.
or Bitcoin adoption accelerated at a speed
that's probably going to make us enemy number one for some people.
And either way, I'm a little bit apprehensive.
If we're actually at the point,
like if this was actually like end of 2025
and Bitcoin's just like ripping to a million dollars
and everyone's talking about it
and how everyone's talking about how Bitcoin is so great
and how the US dollar fucking sucks.
You know, everything else that threatened the US dollar,
every single other country that threatened the US dollar,
didn't fare very well there, Walker.
It kind of got a little bit hard for Gaddafi and a few others along the way.
So yes, we're going to get there.
Yes, it's going to happen.
I don't necessarily want it to happen too fast because, one, I don't want to be public enemy number one.
I would prefer not to, and I think it would be absolutely chaotic.
So it's right.
You've got two sides of the coin there, right?
The fact that everyone is dunking on us just tells us, okay, we're probably approaching a bottom.
If not now, maybe the next like three months or so, we're probably going to find a bottom here pretty quick.
because I think I saw like sentiment at like 10 on the fear and greed index,
which I think is just relatively bullshit.
But just tell by the Twitter, the Twitter feels as well too.
It's definitely there.
And it makes sense, right?
The other thing we didn't even touch on too,
because I'm sure someone's got the data
because it's all publicly traded companies and stuff.
But like I have no idea how like the ETF holders and stuff are feeling right now
in the sense that because they only came in, when did the ETF launch?
Was that just like, was that the beginning of 2025, 2024?
I'm losing time now.
Have they been around?
No, it was beginning of 2024.
right
I don't know
it's been two years
or one year
I not sure now it may have only been like this year for all I know no wait what hold on double check it well you pull that up we gonna get the no no no uh january 11 2024 okay it feels like it was just
this year though i have that same feeling you know i know what you mean time warp there but for them
their cost basis is is always going to be like they're going to not they're not going to be
caring comparing it to the bitcoin price they're going to be comparing it to the etf price right
yeah so their sentiment might be even worse i haven't checked like black rock outflows because
Again, I'm not like a trader or anything.
But I imagine that they – if you're buying in the – if you're retail and you're buying in the ETF, I question how much you understand what you're buying.
Do you know what I mean?
It's like you could be stacking both, right?
There could be a tax advantage reason or something too.
But it's like I help a lot of people go the other direction where they've done very well in micro strategy or ETFs and they're like, I have a whole bunch of GLD but I don't have any American Eagles in my save.
is like, let's get that sorted out there for you.
Let's help you out.
And so I imagine they're going to be quicker,
like in the ETFs as a whole
are not going to be like as fast as retail on the exchanges.
But again, I don't think they're necessarily
going to have the conviction
because I think for them,
it's just another investment in their portfolio, right?
I don't expect them to understand it.
I also, I mean, you know,
a debate with my wonderful co-host, Gary,
who definitely didn't sell
or definitely buy the 16 mark there
because he thought it was going to 12.
But I deal with him often
because he will reaffirm, he's right,
like Bitcoin is for anyone or for anyone,
depending on everyone or anyone, depending on how I'm going to phrase that up too.
It's my own cognitive bias.
I'm well aware of that, but I don't think you can separate the underlying ideology of anarchism from Bitcoin,
of the separation of money and state.
And if I look at those kind of beliefs, like Austrian economics, libertarian philosophy at large,
it's kind of a requirement that you at least somewhat at least can grapple with those ideas.
You might disagree as well as then understand Bitcoin to be a Bitcoin.
It's kind of the merger of those two things combined with some toxic online culture.
How many people do you know in the real world that even look at Austrian economics and know what the fuck that is?
Right?
So I can't expect them to even have the conviction to hold Bitcoin because I'm like, look, here's what we're going to do.
We're going to completely neuter the state.
There's going to be no government.
You're going to love it.
They'll look at you like you're fucking crazy.
But who will build the roads?
Oh, my God.
That question drives me to the goddamn wall.
It's like, yes, thank you for texting me on your free market iPhone who will build the roads.
I don't know.
It's pavement on dirt.
I think we'll figure it out.
There possibly could be a better system as well too.
It's so infuriating.
But to think of how few people can grapple because it's the – man, I read something the other day.
I'll see if I can pull it up in my brain in a second here.
But most people can't grapple with the unseen.
That's a really difficult thing for them to get around.
It goes back to who will build the roads.
you know you want to defund public education you want kids to get educated no you fucking moron
just because the government did it for the last hundred years does not mean that's the ideal way
to do it it's not and it's also we can figure things out there could be better solutions and
there could be things that you didn't even imagine that come along like dude in our lifetime we got
the fucking touch screens right i still remember like i think i still remember like parents leave
the house dial up internet it's like okay i got three hours before they're back to try and get
two photos right like i remember these days and how fast things have changed and so if most people
can't grapple with the idea of a stateless world how could they possibly have conviction in a
stateless money fucking hey man yeah yeah right yeah no it it's true also like i remember i don't
imagine like my uh i didn't get a cell phone until i was like maybe 15 or 16 i was 16 i was driving
I had to drive.
I got a phone.
Yeah, me too.
Motorola Razr.
Oh, those are sweet.
It was a sick phone.
I was like, yeah, this is fucking sick.
This is the height of a technology right here.
But it's true.
Things change so incredibly fast.
The rate of change is accelerating.
But boy, it takes a long time for most people, myself included.
I'm not immune to this
to radically shift your
world view.
I've said this before
I have to this day still ignored
Bitcoin. I was aware of Bitcoin in 2014
and ignored it
until 2020.
That's six years, over six years
that I ignored it after first hearing about it
and heard it
multiple times in between there too.
Kept ignoring it.
I only started stacking Bitcoin in 2020.
So I have still to this day ignored
Bitcoin longer than I have been stacking Bitcoin after being aware of it. So I get it. Like I get
that it takes a long time to change your worldview because it took me a long time to change your
worldview. And when you're talking about something that is so fundamental, that is so like radically
just paradigm shifting and worldview altering and sends you down all of these tangential rabbit holes,
it sends you down the Austrian economics rabbit hole, it sends you down just like the energy
rabbit hole. It sends you down the health rabbit hole because you realize how much the perversion
of money has perverted everything else, right? It really wakes you up to that. And so you start
asking, well, if the money's a lie, what else is a lie? And it turns out a lot of it is,
like most of it, probably. You start looking at the education system and the economic incentives
there. And man, once you, once your eyes are open, that's, that's the beautiful thing. Once
your eyes are open, you can't go back. Like once you, once you're unplugged from the matrix,
you don't go back in, you know, not, not as, not as just a drone in there anymore. Right?
Like, like you go back in and try to dismantle the matrix. Right. But once you are unplugged from it,
you, you, you can't just turn that off. Now you're awake. Your eyes are open. You, you,
You woke up, Neo.
It takes a while to get there, though.
Because life is busy and messy and you're being bombarded on all sides by more information than our brains ever have even come close to being evolved to process.
We have undergone a massive, massive giga-exponential increase in the amount of information that our brains are bombarded with.
and our brains haven't materially changed from a physiological level, right?
To be able to process this.
Like it's just, we just haven't.
And so I get it.
Like, and we, as Bitcoiners, and I'm, I'm guilty of not always having empathy and being like,
okay, you have retard boomer, you know, like, yes, I will say that often.
But, but I say it with love.
Like if I, if I call you a retard boomer, it's because it's because I love you.
and wants you to realize that you're being a retarded boomer.
But no, real talk.
I get it.
I get why it takes people a long time.
It's taken many of my friends a long time.
And then they started stacking.
For instance, after Trump started supporting Bitcoin,
they were like, oh, yeah, I just bought some Bitcoin because Trump did it.
And I was like, fine.
A little frustrating, but awesome.
I'm glad because I love you as a friend.
All I wanted was for you to also have this exposure,
this thing that you don't even realize how powerful it is yet but like you know i love you bro and i
want you to have this so good i'll take any any win i can get but man the we're at a very very
tiny like fraction of a percent of the global population like a fraction of one percent
that know what's going on that are really aware of bitcoin or hold bitcoin in meaningful way that
actually have a utxo and don't like even the people that have a utxo the majority of them
don't even know what a UTXO is anyway.
Like even, you know what I mean?
So it's like, we're just so early.
And this gets back to the point,
because we are so early,
there is just no way that in five years,
10 years, 15 years, 20 years, 50 years,
you look back and say,
sure glad I didn't buy
during that November 17th, 2025 crash.
Like, phew, dodged a bullet there.
It's like, no, the bullet you dodged
was generational wealth
and retiring your bloodline.
Like you fucking palooka.
like wise up it's absolutely is not as bad of a word as it sounds by the way it sounds pretty good
it's it's it's it sounds it sounds more offensive than it is i just want to clarify it's not anyone
can fact check me on this it's a totally appropriate word to use in this context
i'm gonna have to go ahead and look at that after the stream but you know it's funny because i think
i think unfortunately how do i phrase this in some respects adoption will be slower particularly in
the west than we we want it to be and even that idea of becoming from the being unplugged from
matrix you know even at the beginning of the movie they talk about how you know some minds are too
far gone they're too old they can't be unplugged and i do think that really is the case for some
people particularly like the older generations and unfortunately like i can i can tell you just
from like looking on the back end of things that i will that that gen z is not coming in yet and i
don't think they will i think they're kind of in a very it's a very kind of um yolo lifestyle like
financial nihilism and i don't blame them because fuck they have like millennials we thought we had
the deck stacked against us they're fucked right until we fix it and help them and let them take
the reins afterwards but it's this idea that until i think it's going to kind of be it's going
to require some funerals in order for like the big corner population to really increase wealth
to be passed down to the younger generations for them to be able to actually have wealth to then
figure out what the hell to do with it to try and get ahead and on top of that it's the at some
point in time it kind of varies depending on the circumstances some people's minds just can't ever
like they're it would it would destroy their ego to actually change their mind and revert and i'll
I'll take a dark but a very extreme example just to illustrate the point.
If you were – let's say hypothetically, Walker, that your specialty was abortions.
You were an abortion doctor.
You're the best one in the world and you've been doing this your whole life.
I'm not.
I'm not to clarify.
Just to clarify, that's not my fiat job.
Just to clarify.
But let's say that you had been doing that, right?
And you thought you were doing good and you were following your peers and like the medical boards and everything going on.
And you had that whole worldview, but you woke up to the idea that that actually was taking a human life, right, that actually was killing a baby.
Well, that would destroy most people.
Your brain would not let you actually switch opinions because it'd be so devastating based on what you did.
And we can kind of take that same philosophy and apply it to if you're a boomer who made wealth by voting for these government programs, who supported them for years, who made money in the existing financial system.
It's really hard to look back and say not only that I was wrong, but I may have done wrong.
And it's not the same extreme, but I only just use that kind of like argument from Ad Sertum, right?
That like they really did steal from the other generations.
They really did saddle us with debt.
We really did get lied into wars and we got tricked again.
And to be able to not only admit that like you were incorrect, but you may have in some ways done something wrong or ill-advised or in some direct or indirect way, maybe even hurt people that you cared about, right?
I mean you can take the example.
Like if I sit down and I explain to you libertarian philosophy, like I'm a Bitcoiner, right?
So if I sit down and say like if you were to – well, let's say someone's really against – someone in my family is really against Bitcoin or something.
Like it should be illegal. It's used for drugs and these things.
It was like, well, I use Bitcoin, and I love it, and I want to participate in the system.
Are you arguing that men with guns should come and lock me in a cage?
And if I refuse to go with them, that they should use violence or force against me because that's ultimately what you're doing, right?
Then they're faced with that knowledge. They have to try and deal with it.
And if they say that, yes, I still would, well, then I know where I stand with them. But the point being that there's going to be potentially decades of baggage for people that will make it incredibly difficult to say emotionally and like I really think like ego in terms of personality.
they may not be able to ever flip.
It's just too hard to look at, right?
It's like if you made a really big mistake that you feel guilt about,
like if you actually felt guilt about where the current generations are,
your brain might not let you.
Not everyone's necessarily that strong.
Not everyone can be saved.
That is a fucking phenomenal point about the boomers.
Because I think, and to clarify,
you and I both know a lot of really outstanding Bitcoin boomers.
There's actually Bitcoin Boomers, a new podcast.
Specifically Bitcoin boomers with some great human beings, some of my favorite boomers that I've ever gotten a chance to meet on it.
And, you know, like they're the first to call out.
I think one of the reasons that they are such impactful voices within the Bitcoin space is that they're the first to call out and say, look, we see now what happened during our generation.
We see that, wow, we had the easy money times.
It's not to say everything was easy.
It's not to say they didn't have their own struggles.
Of course they did.
Like I narrated Larry Lepard's book and so much of that book, The Big Print, which everyone should – you should read it or listen to me narrate the audio book or do whatever.
Larry Lepard wrote a great book in The Big Print.
But he talks about his own personal story and the story of his family.
It's not like it's all sunshine and daisies.
like but they're also they have their stories but they're the first to admit like boy we really had
an advantage when it comes and you know then there's the other side of boomers who are the
ones that will not admit that they will say everything they got their house appreciating
from being worth a bushel of raspberries to three million dollars you know for their little you know
two-bedroom ranch house in in san jose they're like no that's just just because i was a good
real estate investor like that's just what that is you know like that's just that's that's all that
and they'll just refuse to acknowledge it
because it's so destructive to their worldview.
Their pull yourself up by your bootstraps worldview.
Like it turns out like it was just easier
to pull yourself up by your bootstraps then.
The money was starting to be shit,
but it was not nearly as shit as it is today.
And as the money breaks,
so too breaks everything else with it.
Well, you also take that narrative away from them, right?
Sorry to interrupt, but it's like,
you said pull yourself up by the bootstraps,
But that's not actually what happened here.
And so you start to you start to fuck with their identity a little bit, too.
Exactly.
No, no, no.
Interruptions are always welcome here.
That is exactly correct.
You are breaking the story that they tell themselves.
Yeah, you're breaking that.
And you're making all the times that they said, well, if you just stop by an avocado toast, then you'd be able to afford a house.
It's like I've never fucking bought avocado toast.
It's not good.
I don't get it.
What?
I don't live in the fucking Bay Area right now.
I'm not buying it.
I don't know if they – it feels like they probably eat more avocado toast out there.
I don't know.
Maybe.
But the point is that's just like a meaningless trope, right?
It's like it's just – and if you break people's worldview, they tend not to like that.
And I think this is why I'm always very impressed by gold bugs.
Again, like Larry Lepart is a great example.
He was a staunch gold bug but who came around to Bitcoin.
And there are a lot of gold bugs who have come around to Bitcoin.
But in order to do that, it required like because the thing about being a gold bug is you are directionally correct.
You're directionally correct.
And like gold's not bad, right?
Gold is really good.
Gold's been amazing sound money for thousands of years.
It's just not the best money in the information age when Bitcoin exists.
and the failures of gold are why we have fiat today amongst other conflating
factors.
Yes.
But like really distilling it down.
So the gold bugs who can say, okay, yeah, I'm a sound, like I'm not,
I guess I'm not a gold bug.
I'm just, I'm like a sound money bug.
Yeah.
And this is just better sound money.
I have so much respect for folks like that.
Folks like Larry and who's done a great job of advocating who still goes to
gold conferences, which they, they have apparently.
They're a thing.
Yeah.
They're a thing.
and talks to people about it.
It's like the least slope ramp going in you've ever seen.
Sorry, I just had to slip the one in there.
But then you're absolutely right.
There's something that popped into my mind
that I threw out there too that just goes back to this.
It is extremely commendable for those
that are willing to actually change their mind
because that's not an easy thing to do,
to shift their worldview,
particularly when it's wrapped up
in how they view themselves as part of their identity.
And the example that came to mind is like,
I don't know about you,
but I haven't gotten a single apology about COVID, right?
Not one has come my way despite everything that happened.
People aren't – even though like you could lay – they probably just wouldn't want to look at it.
Like you could lay out everything that they said or did and you could talk about everything that happened and what was actually true and who was correct and what the Evidence Supports Act or the fact.
And it would just – they just wouldn't want to look at it.
It would just be too difficult, too painful for them.
And so I don't expect them to.
And I commend the ones that do because that's not easy.
No.
No, it's not.
And that's the thing.
Oh, God.
COVID is just such a frustrating one.
Right.
All the people, even just who, all the things you could get deplatformed for, all the things you could get censored for,
which it turns out was just telling the truth.
That was just you telling the truth about something, which later then came out as the truth.
And even the science backed it up.
Well, science always backed it up.
The science didn't back it up.
like that that's just like maddeningly ridiculous because there's like and there won't be a reckoning
for that like if there hasn't been a reckoning because i think a lot of people thought like oh
well trump will trump will do that right and it's like no he won't he started the lockdowns
what are you talking no he won't he bragged about operation warp speed what are you talking about
what sort of bullshit revisionist history is this i'm not an anti-trump person right guys
just to clarify for anyone out there he's like this guy must be a fucking liberal it's like
no I'm not no I'm not I just believe in calling out uh people uh no matter what side they're on
when they do stupid shit and operation warp speed was stupid and lockdowns were stupid two weeks to
slow the spread was stupid Trump printing ungodly amounts of money was stupid Trump sending out
checks to everyone was stupid Trump sending out uh you know the pvp was was stupid you like also
none of that should have been necessary because we just never should have locked down and this
actually brings me to another thing which I just I just saw before this and I wanted to actually
bring up, which is, um, I just, uh, let me find this again. Okay. Wait, I'm going to share,
I'm going to share my screen because I just saw this. I was just, I was just on X and, uh,
looking at headlines just before, before hopping in here. And I was like, let's just see what's
happening here. Let's just see what the haps is. And this just, I mean, it's a grok summary to be
fair, but let me, uh, hold on. Where are you at? Uh, I will find you. Oh God. So many tabs,
so many tabs. I'm going to find this.
It's just an
absurd fucking headline
guys and you need
to see it. I will find it.
While you're pulling it up too, I got to just make one
point I think is really important while you go there and search through
is that it is a double-edged sword.
It does cut our way as well too.
Just like everybody, no one
admitted that they were wrong about COVID,
no one will admit that they were wrong about
Bitcoin either. That's how the shift
can happen really fast all of a sudden.
That was that idea of like a preference cascade we were talking about last time that when Bitcoin's like big moment does come, everyone will pretend that they were always for it, that they had it for longer, that they bought it back in 2006.
And as an OG listening to this stream, don't fight with them.
Just be happy that we won.
It's not worth the energy.
It's not worth the battle.
And the same thing will come because, again, people are dogs, not cats, and they will largely just want to be – they just want social approval.
They just want to get along with everybody else.
If you're here, you're probably unusually disagreeable.
I know that I am extremely disagreeable.
It's kind of like a trade of early Bitcoiners, just a personality quark, which, again, makes sense.
Because if you're going to stand up to the entire monetary world or the health world or the public education world or the food world or the military industrial complex and go, I think you're all fucking idiots.
You're all retarded and you're all wrong.
You're going to have to be a little disagreeable.
It's just kind of the nature of the beast.
Did you find it there, good sir?
I'm still struggling.
Also, my computer is about to take off.
Could it be that I am live streaming while also having 50,000 tabs open?
Perhaps.
Perhaps that could have something to do with it.
Hold on.
I'm going to find this thing, though.
I've got a bunch open.
Hold on.
We've almost got it.
While you're pulling it up there.
Actually, I know where the thing is.
I just can't seem to be able to find it in my tab sharing.
Okay.
Now I think I've got it.
Okay.
Let's bring it in here.
Here we go.
Okay.
You can see this?
Yep.
Okay, so Trump pledges $2,000 tariff checks and 50-year mortgages at McDonald's Summit.
And I'm just like, that's got to be a fake headline, right?
Do you know what it immediately reminds me of?
Come on.
Costco University from Idiocracy.
I'm pretty sure that was Idiocracy.
Oh, my God.
Idiocracy.
Turns out it was just a documentary.
But you know what's funny?
The message of that story is not what you think it is.
It's that the person to blame is the one who did nothing.
That the average guy, that people let it get to that way, right?
The lesson there is that this is the path we're going on, and yes, it's super humorous, but it's up to us Bitcoiners to stack sats, learn as much as we can, and have a plethora of children and not let that be the fucking case.
I actually agree with that interpretation of the message.
Like the whole thing, like the intro sequence of that movie is so, so brilliant where it's like you've got, you know, the super like kind of clearly affluent but like nerdy and very like type A couple who's like, oh, you know, well, we can't possibly have children in this economy.
I mean with macro conditions, what they are.
And it's like meanwhile, you know, like Joe blows out there pumping out his 28th kid like we know with 20 different moms.
And it's like, yep.
Yep.
Like, yep.
That is accurate.
Like, that is accurate.
But I'm very bullish on Bitcoiners having a lot of babies, which I see very much as a trend right now.
So that's good.
Trump pledges $2,000 tariff checks and 50-year mortgages at McDonald's Summit.
I'm just waiting.
I'm trying to, like, scan through.
I see Fry Cook there.
I was just scanning through to be like speaking on the Big Mac stage after the Coca-Cola.
Like, my lord, we have multinational fat.
That is the most – I'm sorry because my country sucks.
But that is like the – what did you say?
It's the worst of American culture.
Do you know what I mean in the sense that like we're speaking at the McDonald's summit with the golden arches behind him.
Like, I'm not I'm surprised he's not got some fucking fries on the side of the stand.
I just thought it like when I first saw this headline, I was like, it must be some sort of like grok glitch because like, OK, it's like the joke is, you know, you know, like Trump was serving, you know, serving burgers and fries at McDonald's.
And like, you know, Bitcoiners go and work at McDonald's when Bitcoin's crashing.
It's like this must be some like some some wires got crossed.
But it's like, oh, no.
Oh, no.
This is this.
This is real.
And it's like, again, like Trump sending out, like, guys, I'm really sorry if somebody is like super pro-Trump and thinks he can do no wrong.
But you should be able to call out, like, first of all, I think the guy's hilarious.
I think he's the greatest comic of our generation.
He's truly incredible.
He is electric.
I saw him at the Bitcoin conference.
I saw him speak.
I've never seen somebody play a crowd like that in my entire life.
It is insane.
The guy has a presence.
I can only imagine that it's even more intense in person.
And it is from what I've heard.
That being said, what do you think is going to happen when you send out these $2,000 checks that we're $38 trillion fucking dollars in debt?
And you think that like, oh, you're going to send out $2,000 checks.
Like that certainly isn't going to impact prices at all.
Right.
That's certain.
There's no negative externalities from that.
Like nothing's going to happen there.
Like I just – this feels like Trump grasping at straws, trying to do whatever he can because he's like – I'm very glad that Trump freed Ross, right?
That is honestly the – it's incredible that he did that and I'm so, so happy that Ross is free as I'm sure he is even more so in his family and man, it is fantastic.
We should also look at the other open source developers who are about to go to prison.
Fuck yeah.
Samurai devs and Bitcoin Fog and Tornado Cash.
the podcasters one day guys we're gonna support them now you better support us later yep yep and
like man it's just like this sort of stuff like what's it we'll just send out two thousand dollar
checks like i sorry but that just like it just stupid and it feels desperate and it it not going to meaningfully fix anything like you just trying to buy votes you just trying to do the same shit that the Democrats did when you like we just forgive all student loan debt We just do that
because fucking the money doesn't
matter anyway. We just make it up.
Yeah, well you do, but none of them actually say that.
If they said that, if they were like, it's okay,
it doesn't matter. We just literally print it out of thin air.
I don't even know why we charge you guys taxes.
Fuck it. It's all good.
At least you're honest.
It was like Biden's
economic council
or like he had one of the guys from the Biden administration and they're like why does the
government need to borrow money that it prints and he just watched his MNMT kind of like mind
break that no one actually ever posed that question he didn't have an answer to him I
could give him the answer like there is a reason for it but to your point like one yes on the Trump
thing big Trump supporter in 2016 being a Canadian if I could have voted for my total I vote if I
could I probably could have crossed the voter and vote let's not kidding let's not kid ourselves
I absolutely would have on the free Ross thing like they got me hook line and sinker and I'm
well aware that they found the right propaganda button to push, that like, yep, if I could have,
I would have gone in and pulled the lever, pushed the button, ticked the thing for Trump on that one.
To your point, he is a master, master communicator, and it is worth studying and learning from.
Scott Adams' book, which I hope he's doing okay these days, Win Bigly, go through it. It's
phenomenal in terms of communication. It will send you down a communication rabbit hole that's
definitely worth checking out. But I say all that to soften the blow of what's coming next.
If you follow Trump on everything, then you're just a follower and you don't think from first principles or have your own damn opinions.
Of course he can do wrong. They all can. Hopefully he's the best guy for the job.
He still can think he's the better pick for Kamala. I think we all kind of agree to that and definitely better than Biden.
But again, as Bitcoiners, we realize we can't vote our way out of this.
And besides, if you're a giant Trump supporter and you're part of his base and you won't hold him to account, then who the fuck is going to, right?
You can't just be a sycophant, right?
If you want to have change – if you want to have – he's only got a couple years left now.
What, we got like two and a half or something left here?
If you want to have impact over Vance, Vance has to at least have the illusion that he could lose support if he fucks up, right?
So of course if you support Trump and he's doing dumb things, then support – it's like giving an addict crack.
It's like you're not actually supporting him in that moment.
If he's doing something stupid and you guys – if the base doesn't like it, then direct him the other way.
you have influence over the man because he wants your support and popularity and legacy.
So use it.
I think that that is spot on.
And the difficulty, at least in the United States, I don't even know how many parties you have up there in maple syrup country.
Several.
So I don't actually know what – when it comes to democracy.
There is no solution.
Right?
Right. Like, you know, it goes back to that clip of the guy that's like, you know, like the people are retarded.
Like, you know, the people are retarded.
Yeah. But point being, I don't know what like what the right number of parties is, you know, because ultimately all of the parties end up just debating between each other about who's going to take more or less of your shit and who's going to print more money.
Like it's never who's going to print less money.
Like, right.
Like they, they're all going to print more money.
Just a question of how much more they're going to print.
But like in our American duopoly in this, uh, uh, my father-in-law who escaped communism
calls it Coca-Cola, Pepsi-Cola, uh, democracy, which is like, you know, amazing.
Spot on.
Goes with that McDonald's conference.
It really does.
Um, but just Coca-Cola for, for McDonald's, right?
Uh, you know, they don't have that Pepsi contract, but it's, it's like everyone is so
hesitant to call out any of the fuck ups on their own side because there's this idea of like well
you know yeah our you know our side's like our side's not so great but like at least they're
not the other guys and both sides think that and so it's like they will just to a fault defend
defend defend even when you know like you you know something is stupid or you know something
is fucked up and again i'm talking about both both sides of the aisle here you know something
is dumb, but you still just go along with it. Cause you're like, well, we gotta, you know,
we gotta support them. Like, we can't admit that like, maybe this is a dumb idea because you know,
what's going to happen in the midterms and what's going to happen in the general. Like,
and it's like, it's, it's always this back to the cycle idea. It's like, man,
it just so happens that Bitcoin havings tend to fall on a U S presidential election years,
which is interesting. Right. Uh, again, probably just a coincidence there because of the timing,
cause Stocia's like, I can't wait any longer to release this shit, but it's, it's frustrating
because it's like, guys, things don't get better.
Nothing meaningfully changes
unless you actually start speaking up
and speaking the truth.
And that means calling out your own, quote, side
when you see them doing dumb stuff.
That's the only way that things get better.
And if you don't do that, nothing ever changes.
And maybe nothing even changes when you do that
because nothing can be changed from within this system.
You can't change something from within the system.
you need to be building outside, moving your economic energy to the parallel system built
around open source technology.
Like maybe it is not possible to reform this fiat system.
Maybe there's no saving this fiat system.
That's kind of where I'm at, where it's like the fiat system will just keep going.
It will not be fixed, but we are building parallel systems at the same time.
And that is what we continue to move our time, our energy, our attention, our lifeblood,
our energy towards this parallel system.
and that ultimately just starves the beast.
But man, it'd be nice if people could at least
just call out stupid shit when they see it,
even if it's from their side.
And some people sure do, but the majority just don't.
And maybe that's just human nature.
That's tribalism, right?
It's like, my tribe good, your tribe bad.
So I always say, my tribe good.
But boy, I would encourage people to do their best.
Call out good shit when you see it.
And call out bad shit when you see it.
Call out good shit when you see it from people you don't like.
and call out bad shit when you see it from people you do like
and vice versa.
And the world will be just even a little bit of a better place.
Maybe.
I completely agree.
But it's the,
again, it goes back to that kind of disagreeable nature.
It's the,
it's what do you want to be, right?
Do you want to be the same as the herd
or do you want to be a fucking legend, right?
Because to be a legend,
you're going to have to go against the group.
Most people will never do the hard things
that are required to be a fucking legend,
like stacking Bitcoin right now,
like starting companies,
like starting a family
where you don't know exactly
how you're going to necessarily pull it off,
but you'll fucking figure it out
and you'll make it work.
If the system requires you to compromise on your values and integrities, then maybe it's not a system worth saving.
And at least by calling it out, it's like having a debate.
It's like if we were to go into spaces right now and debate some shit coin or something.
We're never going to change their mind.
It's never going to happen.
What we're doing is we're talking to the audience.
And so maybe you calling out Trump in no way impacts his polling numbers or what the party does or the choices that he makes.
But you might influence your neighbor or your friends to stop and rethink things.
and maybe go spend some time in the parallel economy or look for a different solution to this problem
because there is no political solution.
It's not possible.
It's a fundamentally flawed system.
If you're going to have essentially – whether it be like a representational democracy or like a republic system,
it's all fundamentally flawed because it's based on the idea that you can violate – certain people have different rules.
You can violate property rights.
There's rules for some people and different rules for other people based on whether or not they have this random title.
It can't work.
It's incoherent.
Nature loves universals.
Gravity doesn't turn off when you go to Asia, right?
It can't happen.
But at the very least—
It'd be pretty cool, though.
Yeah, it'd be pretty fucking sweet if you could go float over there for a little bit.
I could be taller.
That's about the best I could do.
You've got to be willing to say it for a number of reasons, particularly if you're a Bitcoiner.
We know where things are going.
You're going to say unpopular things that you believe to be true.
And even going back to that, like even the COVID, we were speaking the truth.
I didn't know that I was not always necessarily speaking the truth, but I for sure wasn't lying.
And I knew that I wasn't lying.
It's like this doesn't line up for me.
Here's my previous knowledge.
Here's what I'm thinking.
I don't agree.
I could be wrong, but I'm not lying.
And if the system is going to get worse, which if you're still here, you probably accept that.
Then at the very least, the very least, what you'll get out of calling out bullshit is credibility when things collapse so that people will at least turn to you for insight.
You can help rebuild things.
You can help shape the path forward.
If you never call them out, you don't really have any sway or credibility or influence.
We look back at – even going back to stupid TA charts, we see somebody makes a call for like, oh, Bitcoin will be – what is it?
$221,000 and something else on – I forget your call there, Walker.
Oh, yeah.
$221,696 on January 1st.
Perfect.
Thank you.
Yeah, yeah, yeah.
Very scientific.
Very scientific price call.
So if that hits, people look at you like a genius and all of a sudden you have influence and you have sway.
The same – I know, right?
It's a complete bullshit number.
So that will be a lot of fun.
I just made it up.
I rolled some dice, right?
It was part of my new cold card setup.
I made it up.
Yeah.
The same thing happens with the political system.
Like I look at – I love Dave Smith.
I love part of the Problem podcast.
And I've listened to him for a long time.
And funny enough, it was conservative commentators that had him on in the early days.
I'm like, this dude is sweet.
I love anarchy.
Let's go hang out and listen to his stuff. But with those guys with what's his name?
Martyr made to do all like the history stuff. If you've been around saying controversial or maybe not necessarily popular things at the time and COVID again being a prime example and you continue to be right.
You continue to build up social credibility amongst your peers and people that have listened to you, which means you have more influence and impact on the future. Right.
And it's as simple as like this is a dumb idea.
He shouldn't do that.
Well, now you might be the guy in the group of friends that actually has political insight that might be able to persuade or push what should be the focus or policies next cycle, next round.
It's true.
I mean, again, it's like it's very easy to be a kind of just like a bandwagon person, right, to just to just jump on whatever is convenient and whatever narrative happens to be, you know, especially like so much of it is driven these days just by whatever narrative happens to be getting social engagement.
Like the incentives are so perverse.
That's one of the reasons that I love Noster is because these sorts of perverse incentives aren't rewarded.
Yeah.
these sorts of, it's just, it's not algorithmically reinforced either by feeding rage bait to people.
Like, but on centralized social media platforms, which do still have their uses,
like those are still top of the funnel, right?
This is why like as Bitcoin podcasters, they're still very important.
It's because like, that's how you reach new people, right?
Yep.
Because the new people, the new people aren't just randomly on Noster.
You know, I can see it in the stats.
I can see the newcomers coming in.
Yeah.
And, and, and that, and also that like, that's, that's why Noster is so enjoyable
because it's not full of just, you know, like, but it's a different story, right?
Point being, it's like it's easy to just take somebody else's opinions about something that you've already seen publicly proven to be popular to get engagement.
It's easy to take those and adopt them as your own and recycle them and change the wording or don't change the wording at all.
Just, you know, copy them verbatim.
It's easy to do that.
It's low effort.
It is just it's simple.
Right.
And, you know, you're doing something safe.
you're doing something safe because you're just agreeing with somebody else who's already said it
and and when they said it people liked it and the people that you wanted to like it liked it
so if you say it those people like it too but it's just i don't know gutless there's no reward either
no it's like congratulations you don't have your own opinions you have somebody else's
you've been psyoped into whatever and not that everything's a psyop a lot of things are
but you've been slapped into whatever rage bait somebody wanted to feed you.
You bought it hook, line, and sinker.
You just kept regurgitating it in your own.
Then you made it part of your identity.
And when you make it part of your own identity,
that's when you get into problems.
Like if you don't have an identity of your own
that is strong enough to stand at its own two feet,
and if your identity is instead something that is just copy-pasted
from somebody else, something that's just adopted,
you haven't actually thought about it.
You didn't actually come to it on your own.
You just said, well, that sounds like, I like the way that guy,
that's what I think too.
then there's nothing to it.
There's nothing there.
You don't actually have any real conviction with it,
but you've made it part of who you are.
You've made that, like, I am this kind of person.
I do this because people that I look up to,
that are smarter than me, however I want to look at it.
My tribe does this.
Because I'm just following what they said.
But, man, and granted, that's just going to be the majority of people.
Necessarily, that's going to be the majority of people.
But if you consider yourself to not just be the one that follows what the majority do,
then maybe think long and hard about whose opinions you are adopting as your own.
And consider just, maybe you should come up with your own opinions.
Maybe you should just say, no, fuck that.
Why don't I just think about this a little bit harder?
Why don't I just actually put in the time to just sit down and think about this
instead of scrolling X to see somebody else tell me what I should think about it,
why don't I just think about it and come to my own conclusion
and pull in a bunch of different sources and think about this in a meaningful way?
But the problem is that's hard, Nathan.
That's hard.
It takes a lot of work.
It takes a lot of mental energy.
And it takes a little bit of time because you actually have to slow down
and think about things and decide what do I actually believe?
And who am I letting influence my thoughts, my action, my behaviors,
like, you know, you are the people you surround yourself with.
Yes, you are.
As the old trope goes.
And when you surround yourself, like, I think that applies digitally as well.
You know, it's a different dynamic, sure.
Our brain doesn't know the difference.
Yeah, no, it's, that's a great point.
Like, again, like, from an evolutionary perspective, it's like,
this thing is not caught up yet.
Like, it wasn't built for the internet and for constant 24-7 news
and inundation from every different side by more sources than we can shake a spear at.
We're not built for it.
And so I would just, whether it be a theory about politics, an opinion about politics,
or about Bitcoin and particular debates in and around Bitcoin, whatever it might be,
I would just encourage you to come to your own conclusions and think for yourself.
And I think you'll find it much more rewarding when you do so.
I agree.
And I'll give you another secret weapon too, which you've got and I've got as well, which makes a world of difference.
And if you don't have this yet, it might be the one thing that's more important than stacking Bitcoin.
So particularly over the COVID times too, right?
It is very difficult to stand up to everybody and say no that you're wrong.
However, if you have the love for me of my wife, then I can tell everybody to fuck off.
I don't care what you think.
As long as she still loves me, as long as she's still got my back, I can tell everybody they're wrong and to go fuck themselves.
But I have that, and it gives me this incredible shield because it doesn't matter.
It doesn't matter if everybody else thinks I'm an asshole or I'm wrong or in that particular case that I'm endangering people and I'm a jerk.
Don't fucking care because the only person whose opinion matters to me is hers.
as long as she's still good with me and she still thinks I'm awesome and she still loves me.
I'm fucking untouchable.
If you don't have that, you will have that.
If you don't have it, I recommend prioritizing it because it does make you fucking invincible against the mob.
I cannot say amen enough to that.
And it is just like if there's any young men listening to this or not young men,
but men who don't have an incredible wife in your life, man, prioritize that and find yourself a good one because it makes a world of difference.
And I think your larger point is like that's clarity, right?
Yep.
Because that's like –
It's signal.
Yeah.
Like that is – like there is just so much noise out there.
But what does your wife think of you?
What do your kids think of you?
My son is not quite old enough to really – I mean I think he thinks I'm pretty cool.
Probably.
Yeah.
Like give it a few more years.
We'll see.
He'll be a little bit more of a harsh judge.
But, you know, for now, like, you know, gravy.
But like that, that's what matters, right?
Like that's why we do all of this at the end of the day too.
We do it to try and be the best husband and father that we can be, to provide the best
life that we can as a, you know, as a husband and father, as a provider.
Like that's, that's why we Bitcoin podcast, Nathan.
Damn straight.
Man.
And, well, boy, we've been on the time flies.
It really does.
This is now becoming a regular thing.
Maybe any time Bitcoin price dumps, I'm just going to have to hit you up and be like, hey, we're going live.
We're going live.
Fuck it.
We're going live.
Can I ask, what interview are you dropping tomorrow if you want to tease it for folks?
Yeah, sure.
So tomorrow is Andy Schoenover from CrowdHealth.
His is coming out.
Nice.
And then I've got a couple.
I've got one probably in the pipe that I'll put out next week and then that Jack Cruz one I teed out.
It's pretty evergreen content.
I think two time-sensitive.
So that one will come out a little bit later.
So it should be a good one.
I had a lot of fun time talking to Andy.
It was nice to kind of uncover.
I realized near the end of the interview it was like, oh, you were an ANCAP libertarian before you found Bitcoin too.
So it was a great conversation.
I'm excited to check those out.
I actually wanted to chat with him and Jack for a while now.
so maybe i'll hit him up jack's great yeah yeah i've like multiple people in the in the live stream
chat were like hey you should you should do that that that would be very worthwhile so
to make that happen but yeah it's you know we're in a maybe the what we could end with here is
again if you're listening to this right now you are still early you're still so very early you're
you're up at at least for me you know midnight central time uh midnight plus or minus a few
hours maybe you're listening in europe you're already in you know in tomorrow you're living in
the future maybe you're in australia you're like i don't know six days ahead of us or whatever
whatever you aussies are but you're early yeah you're really early and these these dips like
again i i'm not i'm like i'm not an og whale you know like neither of us are like these og whales
that are considered like you know yeah one day one day 10 years from now we yeah anybody who's
buying right now is an OG, right? Like that's, that's just going to be a reality. And so like,
but what my point is like, when we say things like, Hey, like you should view this as an
opportunity. This isn't us sitting on stacks of Bitcoin from 2011, you know, like saying,
no, no, no. This is us saying like, this is how we view it. We view it as an opportunity because
it is one, because you have a chance right now. And again, I keep coming back to the fact,
Nathan, that what we talked about earlier, it's like you fast forward five years,
to fast forward 10 years, I find it very unlikely that you look back on today, on November 17th,
now 18th, 2025, and say, boy, I'm sure glad I didn't stack more sats on that day.
I just don't see it happening. And so if you do have any dry powder left, which I am...
Jesus, lucky you.
Boy.
Did you forget about some in the closet? Like, how'd you pull that off?
Yeah, no, just, well, luckily our ad responsibly had set a tidy little limit order a couple weeks ago.
It was like, just in case.
Just in case.
Just in case, you know, Wicks down there.
Got a hot tip.
And it did.
And now I'm like, boy, why did I make all those buys in between?
You know, I should have obviously put it all into the limit order.
But, you know, none of us have a fucking crystal ball, man.
And it could have just as easily decided to rip our faces off.
We don't fucking know.
We never thought we'd go below the previous all-time high.
We never thought we'd get a new all-time high before the halving.
Do not think you know what's coming next.
Bingo.
Because we don't.
We have no clue.
But we can admit that, right?
And that's why we can just stay humble and stack sats.
Man, Odell's advice just continues proving to be some of the best you could possibly give.
Stay humble and stack sats.
You'll be okay.
Do this for your family.
Do this for your bloodline.
And do it for yourself too.
And while you're at it, start yourself a Bitcoin podcast.
Head to BitcoinPodcast.net slash gear to find everything that you need to start a Bitcoin podcast.
And before we wrap to Walker, what do you have coming out this week?
What are you dropping?
I have I've got an interview with Alex Leishman, CEO of River.
River.
I'm not sponsored by River.
I was going to say, was that after the last week?
Was he like watching?
Like, shit, I should sponsor them.
No, no, no.
Still not sponsored by him.
Just had him on because I wanted to have him on.
He gave a great presentation in D.C. when I was there for the Bitcoin Policy Summit.
Nice.
It's about American adoption of Bitcoin.
It was a really interesting conversation.
He's just like a fascinating guy, like CEO, CTO.
Like he's walking and chewing gum at the same time.
I think it's very cool.
And I'm just a happy customer of Rivers.
Yep, fair enough.
Not sponsored, just like their product.
Like their product.
I like that I don't have to use Coinbase.
I like that they're Bitcoin only.
And yeah, got that.
And then I've got Max Hillebrand coming out a little bit later in the week.
Max is an awesome dude.
Oh, dude, so good.
Yeah, we had him on Why We Bullish like two weeks ago.
dude's just he's like this quiet zen fire of like i'm going to take over the state and i'm building
all the tools to do so here you go i i love max yeah that is exactly what he is it's it's he's uh
he's a beautiful soul and a true anarchist in the in the true meaning of the word yes uh i've got an
interview coming up that i'll be dropping soon for anyone that watched on no store already they've
seen it but with uh with angela mccardell the former libertarian party chair right and uh current
Mises caucus chair, which was honestly super interesting.
She's a badass.
You should get Spike Cohen too.
I had him.
He's awesome to talk to.
Dude, I would love to be from 2020.
Yeah.
I would love to get him on, man.
That'd be super cool.
And then Jeff Booth on today.
Fucking wedding.
Now I've done two Bitcoin podcasts in one day.
As a Bitcoin podcaster, what else can you ask for?
My cup overflows with the joy of Bitcoin podcasting.
Damn straight.
Well, Nathan, this is great. Everyone, if you're still listening to this, you should check out BTC Mentor and your podcast because it is part of BTC Sessions, the umbrella.
But you guys do a ton. You and your co-host, Gary, who definitely did not.
I did not.
The 60K bottom.
It's the 60K. No matter what you hear, it's totally false. That was not Gary.
That was not Gary.
That was some other guy with a similar sunny name.
They should check out your show. It's fantastic.
and we actually did a whole Bitcoin podcast
about Bitcoin podcasting on that show
which was a blast. It was a great time.
It was a wonderful time.
We might just have to make this
a regular thing. We're going to be doing
maybe we can tease it now for any of the
couple people who are still listening. What do you say?
For the couple people that are still listening
there may be some more collaborative work
coming out in the new year so stay tuned
we'll see what ideas we come up with.
Yeah, we'll leave you
with that and so yeah, I guess
this has been a pleasure man this is a great time now we should both probably you know get to like
editing shit and you know i gotta upload i gotta edit i gotta finish cleaning the kitchen you
literally text me like yeah i don't want to clean i'm sorry podcast i'm sorry but but what a rip it
was this was this was needed needed for ourselves thank you to everybody who tuned in appreciate
you all nathan appreciate you and uh yeah i'm hopefully you know hopefully we'll just keep
ripping and we won't need to do this again soon but i kind of hope we maybe we might have a little
It's a friendly correction.
We'll see.
It's not about the price.
It's about the friends we made along the way.
That's the real yield.
And with that, we bid you all adieu.
And that's a wrap on this Bitcoin Talk episode of The Bitcoin Podcast.
Remember to subscribe to this podcast wherever you're watching or listening and share it with your friends, family, and strangers on the internet.
Find me on Noster at primal.net slash Walker and this podcast at primal.net slash Titcoin.
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