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Right now, all you have to worry about is how are you going to stack more corn?

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Because while everyone else is freaking out, you have an opportunity.

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And again, we talked about this last time.

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It's like if you are here right now and you're listening to this and you're aware of this,

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especially if you already own some sats, fantastic.

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You can get some more cheaper than you could get them yesterday and the day before and the week before.

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You don't own any Bitcoin.

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Like, wow, you've been gifted a great opportunity.

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You didn't have to buy sats at $126,000 per Bitcoin.

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You can buy them at $90,000.

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That's fantastic.

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That's a great deal right there, in my opinion.

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Go back to the COVID crash, right, too.

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How many people look at the COVID crash when Bitcoin went down to $3,000?

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And guys, that wasn't that very long ago.

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That wasn't that long ago.

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And everyone goes, oh, man, I wish I could have bought them.

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Most people didn't.

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They were scared shitless of everything that's going on in the world.

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Those moments will come again.

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And this is like a mini version of that right here as well, too.

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It's the exact time when you should be stacking.

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Guys, for anyone who's listening right now, Nathan and I were not anticipating having another impromptu Bitcoin is crashing.

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So soon after our last Bitcoin is crashing live stream.

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But here we are again.

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Bitcoin is crashing.

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Piff, poff, whiffy, wang.

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woo why am i hodling uh nathan how are you feeling this fine evening i'm feeling pretty good i'm

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feeling pretty good but it is still i didn't expect to see the eight handle so i'm looking

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at it right now at 89 959 and we just bounced above 90 and then back down here i'm feeling i'm

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feeling all right i'm feeling okay with it but for anybody there's a lot of people who their uh

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their cost basis is quite a bit above where we currently are and even you know i was talking

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with some people earlier today about it looking at it in percentage terms it's not that bad like

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28% or probably a little bit more than that now right now. But we're down on the year. I can see

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year to date down 3.66%. We're down on the year. It is quite a percentage drop and nothing outside

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the realm of Bitcoin's normal history. But like just stop and think for a second, like that is

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35k off the top. That is a large nominal value. It's gonna have some psychological impact. I mean,

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for it's gonna be a lot of people's net worth, even if they're Bitcoiners, too, you still see

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that it might still sting a little bit. And to put it in perspective, right, that's basically almost

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We dropped over the last little while almost double, if we go to 85, almost double the 2017 top, right?

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So we took that 2017 all-time high, times two dropped down over a couple days.

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Well, that's kind of the wild thing.

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I think we talked about this the last time.

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It was only a couple days ago.

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It feels like it was just yesterday because it was almost just yesterday.

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We talked about this, I think, just that idea that with each successive order of magnitude movement upwards with Bitcoin,

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any dips, like the previous all-time high just becomes a rounding error.

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In this case, actually, I guess previous all-time high, like 69,000.

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So actually, I guess that's not really a rounding error anymore.

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But to me, that just says, I don't know.

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We've got a long ways to go.

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Bitcoin is going to go up and to the right with a lot of volatility, obviously.

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And it kind of feels like, I mean, I don't want to give them too much credit, but I also do.

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The 58K gang, it feels like it is a magnet.

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Now, I don't know if we go back to 58K.

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Maybe we tag 85K.

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I'm not sure.

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I'm not a, you know, astrology for men TA guy.

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Like, it's not my shtick, you know.

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I'm a talking out of my ass, you know, pleb slop kind of guy.

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Exactly.

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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.

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Maybe they bought the top.

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I don't know how much retail was actually like, quote, retail, which is just like an interesting word.

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I don't know how many plebs, new plebs, actually came in right at the $126K, whatever it was, top, and started buying.

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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.

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Maybe there were and they just weren't on Bitcoin X or Noster.

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I don't know.

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But it just, it still feels like, again, nothing has changed.

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We've just had like an insanely bullish couple of weeks with medium of exchange news coming out.

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And to me, that's like some of the most bullish stuff.

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Like another company buying MicroStrategy bought what?

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8,000 more Bitcoin today?

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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.

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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.

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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.

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But like they're not just drawing on infinite credit and different all these different instruments, too. Right.

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Like they are a nation state who is doing their best to buy as much as they can.

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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.

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I believe it is, yeah.

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They've been spending a Bitcoin a day for a while, and now it's like a thousand of them in a day.

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Like it's a lot of corn.

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It's a lot of corn.

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I don't know.

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It's interesting.

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It's interesting timing too, right?

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Because it's right when we're dropping down too.

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Like so Blue Kelly is a master of marketing.

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I have mixed feelings.

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I don't really know which way to go.

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like i'm undecided on el salvador and i get kind of different things from different directions

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but have you been down there real quick i have not been down there to check it out yet have you

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been did you just pull a have you been douglas murray on me i didn't actually okay fuck that

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fuck that um have you been god that i didn't even mean to but now i feel like a real douche

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douche canoe um no but okay to be i meant that more as like i was not trying to have a got you

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more so like i think you'd really enjoy it i think i went down yeah i went down there twice in 2022

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carl and i did unintentionally went twice uh went went the first time very intentionally and then

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we're like oh i hope we can come back sometime soon and we came back like a couple months later

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for adopting bitcoin and we didn't get a chance to go back again until this past january and it's

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amazing to see how much has changed uh really we can get into that a little bit but i digress

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sorry to get us off topic but continue like no in the sense that like it was just it's very

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interesting that like he put he did it right when all the attention was going to be on the price so

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if nothing else i think he's just trying to flash his conviction and i don't i don't begrudge him

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that at all but funny enough speaking of things i've been searching so i'm always pulling for

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clips and things for the thursday show and trying to pay attention to what's going on

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i think what we're seeing in bitcoin isn't reflective of bitcoin at all i took a brief

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look at the market earlier today and it wasn't like read across the board but it didn't look

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good right there are a few up on the day but it's kind of neutral to down across the the u.s markets

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And then I still got to tease apart exactly what's going on, but the Japanese bond market looks like shit.

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And it's like, OK, what's going on there?

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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,

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is I think it's very possible Bitcoin is just smelling something that's coming.

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We're just seeing a little bit of cracks in the monetary system.

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The reason it feels so weird is because it has nothing to do with Bitcoin.

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It's just people getting liquidity and getting to safety.

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I feel like Japan always gets blamed.

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It's always like, you know, curve control.

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Japan is always getting the short end of the stick on this.

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Maybe it's their very harshly declining birth rates.

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I don't know.

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But yeah, I mean, so I think that that's an important thing to point out, right?

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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?

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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.

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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.

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How could that not make a difference, right?

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And honestly, the truth is probably somewhere in the middle.

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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.

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Right. Of course, more of that's going to flow into the only truly finite asset that there is.

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That being said, it's like I'm not totally convinced that the four year cycles have never mattered.

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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.

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It's like, oh, the halving is just like it just brings attention to Bitcoin.

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but like it doesn't actually materially impact anything.

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And it's like, it's also hard to know

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because Bitcoin is still so young

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that it's like so much of this is just speculation.

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Everybody wants to attribute a different law to this,

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a different theory to this, a different plan to this.

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But at the end of the day,

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it's like maybe we just actually have no fucking clue

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what's going on

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because we've never had anything like Bitcoin before

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and all your models are fucking broken.

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And you trying to, you know, read the tea leaves

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and kind of like retrospectively look in the rearview mirror

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and attribute different things to Bitcoin's price movements,

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it's like, I don't know, maybe that's good for engagement,

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but it's not actually that meaningful.

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And maybe 50 years from now, people will be like, everyone was retarded.

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Like, I can't believe they thought that these things actually mattered to Bitcoin.

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Like, this was just, you know, you look at the Weimar Republic chart.

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I was just going to say.

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You know what I mean?

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Like, you look at that, it's like gold looks insanely volatile.

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It's dropping off – it's going up – climbing up the mountain, dropping off a cliff, back and forth.

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That's what Bitcoin looks like right now because fiat currency is a dog shit measuring stick.

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And so it's like maybe we just – we want to attribute these things to whatever makes sense for our particular worldview.

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But in reality, it's just fiat is being debased at an incredible rate.

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Even when they're tightening, like it's not – like it's what?

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It's a blip, right?

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It's a little blip.

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But I don't know.

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I go back and forth in this.

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I think we under, like, hindsight will be, wow, nobody really had a fucking clue what was going on.

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Bitcoin was just repricing the entire world.

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Like, I talked to Jeff Booth today also.

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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?

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And every time I talk to Jeff Booth, I'm just like, yeah, you're right.

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You're right.

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You're right, man.

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Straight into my veins.

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Yes, yes.

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No, you're completely right.

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And the thing that he throws out too, because I was actually – it's funny.

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I was going to reference JetPoot today.

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I also had a wonderful recording today with Dr. Cruz.

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I feel very savage and ready to go because that man is definitely getting after it, which is nice.

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I love that cultural energy.

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I want to have it back.

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Well, most of the people that have Bitcoin are not Bitcoiners.

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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.

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associated with it and have a skewed view. So we can't, it's like the whole like market

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efficiency hypothesis. It's complete bullshit. Markets are not high efficient. They're never

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efficient. There's always going to be asymmetries and changes. And I mean, trying to figure out

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whether or not the four year cycle had an impact. I think I can say definitively it did. But the

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question is to what degree? Because all I have to do is have more than 0.001% of an impact that it

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had. So it definitely had an influence. It's just the question is how much, how often, what else was

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kind of in play. It's like when people try to figure out, like, they try to determine someone's

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motive. It's like, you can keep reaching back kind of recursively. Well, this thing happened in their

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childhood, and this thing happened later in life. It's really hard to pin down definitively what led

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to something. Hell, we can't even call the weather, like, two months out, right? We have no clue.

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We can't even call the weather, like, two minutes out, honestly. Well, depending on where you live.

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We're bad at predicting things, especially on long timescales.

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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.

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The ones who do get it will be the big winners that come out on top.

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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.

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I was thinking back because we were talking about the halving as well too.

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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.

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I am not at the hodl stage.

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I'm at the accumulation stage.

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I'm hodling the whole way up, right?

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I'm spending locally in circular economies and things too.

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But I'm in the accumulation phase.

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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.

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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.

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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.

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Guys, we've got more time.

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The whole year has been reset.

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Take a breath.

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00:13:33,840 --> 00:13:34,200
Relax.

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00:13:34,660 --> 00:13:36,120
It's your chance to accumulate more.

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00:13:36,120 --> 00:13:41,620
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.

212
00:13:42,000 --> 00:13:43,700
So it hurts in the short term.

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00:13:44,100 --> 00:13:49,960
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?

214
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236
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237
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You probably don't have insurance.

238
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239
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What's the point of that if you need to claim a loss when number go up?

240
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241
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249
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250
00:16:53,840 --> 00:16:58,520
Yeah, I have felt that same moment of panic.

251
00:16:58,840 --> 00:17:02,600
I feel like I feel that same moment of panic on a fairly regular basis.

252
00:17:02,860 --> 00:17:06,960
It's not just around this last having I really did.

253
00:17:07,060 --> 00:17:12,020
Around the prior having in 2020, I was just really going down the Bitcoin rabbit hole.

254
00:17:12,020 --> 00:17:17,580
And so I felt the panic then, but it was a different kind of panic.

255
00:17:17,720 --> 00:17:24,660
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.

256
00:17:24,780 --> 00:17:27,680
But I understood enough to be like, shit.

257
00:17:28,100 --> 00:17:30,140
And the constant feeling of you missed the boat.

258
00:17:30,480 --> 00:17:32,900
The constant, constant feeling of you missed the boat.

259
00:17:33,600 --> 00:17:37,260
And just being like, I've just got to do whatever I fucking can.

260
00:17:39,000 --> 00:17:41,500
This time around, it's like I understand even more.

261
00:17:41,500 --> 00:17:47,880
And so, and I've also been, you know, DCAing for longer, stacking for longer, smash buying when I can.

262
00:17:47,980 --> 00:17:52,000
So I was just saying before this, you know, saw a limit order hit at $89,999.

263
00:17:52,400 --> 00:17:53,540
And I was like, wow, sick.

264
00:17:53,620 --> 00:17:55,220
But then I was also like, oh, damn.

265
00:17:55,800 --> 00:17:56,320
Oh, wow.

266
00:17:56,340 --> 00:17:58,180
We went into the 80s.

267
00:17:58,240 --> 00:17:58,780
Okay, fine.

268
00:17:58,800 --> 00:18:00,120
But like my limit order hit.

269
00:18:00,420 --> 00:18:00,780
Amazing.

270
00:18:01,140 --> 00:18:02,080
Like that's fantastic.

271
00:18:02,960 --> 00:18:03,360
I don't know.

272
00:18:03,460 --> 00:18:05,480
It's interesting.

273
00:18:05,480 --> 00:18:12,340
uh i'm not you know american american hodl hodl talks about this idea of like the bit life crisis

274
00:18:12,340 --> 00:18:17,120
where like you get to that certain point where it's just like any work that you're doing is

275
00:18:17,120 --> 00:18:22,120
almost meaningless because your your net worth is like fluctuating so much in any given day

276
00:18:22,120 --> 00:18:27,040
that like you know your bitcoin stack is so massive like i'm not i'm not i'm not there yet

277
00:18:27,040 --> 00:18:32,080
you know i'm not obviously i'm not even close to american uh american hodl because that man

278
00:18:32,080 --> 00:18:36,840
stacked like a fucking psychopath while i was still i don't know picking my nose and doing stupid

279
00:18:36,840 --> 00:18:43,060
stuff uh like as an adult you know to clarify i wasn't a child you know but uh just was being

280
00:18:43,060 --> 00:18:48,720
worthless and he was busy riding a moped yeah i love that story his chairs and stacking like a

281
00:18:48,720 --> 00:18:54,960
psychopath and that shit pays off and and that's i think the important thing is that the longer you

282
00:18:54,960 --> 00:19:01,620
go in this, the more you realize you haven't missed the boat. You will never catch those OGs

283
00:19:01,620 --> 00:19:05,180
just because it's, it's not going to happen, but that shouldn't be your benchmark, right?

284
00:19:05,280 --> 00:19:11,220
The one thing about getting into Bitcoin that I realized is that it is really easy to start

285
00:19:11,220 --> 00:19:14,180
hanging out with Bitcoiners, you know, at conferences and whatever, and be like,

286
00:19:14,860 --> 00:19:21,980
holy shit. I am, I'm like, I'm so poor because these people, like these people have more Bitcoin

287
00:19:21,980 --> 00:19:29,300
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?

288
00:19:29,620 --> 00:19:30,320
And sell it.

289
00:19:30,760 --> 00:19:33,240
Yeah, and sell it and then do it a couple more times.

290
00:19:34,200 --> 00:19:36,900
But that's okay.

291
00:19:37,140 --> 00:19:40,760
Then you realize like, oh, but it doesn't matter because literally all of this is relative.

292
00:19:41,180 --> 00:19:46,340
What matters is how well are you doing at saving for your future, your family's future?

293
00:19:46,340 --> 00:19:50,540
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.

294
00:19:50,600 --> 00:19:53,220
Bitcoin is giving you the hope to do so and the ability to do so.

295
00:19:53,740 --> 00:19:59,580
But you can't have that mentality of like, I'm too late.

296
00:19:59,660 --> 00:20:00,360
I missed the boat.

297
00:20:00,420 --> 00:20:02,540
I'll never catch these guys because that's just self-defeating.

298
00:20:02,960 --> 00:20:11,240
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?

299
00:20:11,480 --> 00:20:14,140
And the answer is just create value.

300
00:20:14,320 --> 00:20:16,000
Stack as hard as you fucking can.

301
00:20:16,340 --> 00:20:19,020
and live your life, right?

302
00:20:19,420 --> 00:20:22,000
And like these short-term, because this is what this is.

303
00:20:22,260 --> 00:20:24,580
Sure, is this like a little probably unexpected

304
00:20:24,580 --> 00:20:25,800
depending on who you talk to?

305
00:20:25,880 --> 00:20:28,440
Like if you just follow a lot of Caps Lock, Moon Boys,

306
00:20:28,800 --> 00:20:30,420
this is probably very unexpected.

307
00:20:32,440 --> 00:20:34,440
If you don't spend as much time following those people,

308
00:20:34,480 --> 00:20:35,460
you've just been living your life,

309
00:20:36,040 --> 00:20:37,780
maybe you just happen to check the price chart

310
00:20:37,780 --> 00:20:40,680
and you realize, wow, sats are on sale today, right?

311
00:20:41,180 --> 00:20:43,080
This is a good time for, you know,

312
00:20:43,100 --> 00:20:44,720
my DCA is going to get me a few more sats

313
00:20:44,720 --> 00:20:45,460
than it did yesterday.

314
00:20:45,560 --> 00:20:46,040
That's great.

315
00:20:46,340 --> 00:20:47,940
I don't know.

316
00:20:48,820 --> 00:20:59,480
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.

317
00:20:59,600 --> 00:21:01,360
512, 469.

318
00:21:01,960 --> 00:21:02,140
Okay.

319
00:21:03,500 --> 00:21:05,500
Should have set that limit order a little bit lower.

320
00:21:06,320 --> 00:21:15,140
You also have an American publicly traded company, Strategy, announcing they bought 8,100 something Bitcoin.

321
00:21:16,340 --> 00:21:21,680
making their total almost 650,000 Bitcoin, which is just a mind-boggling number.

322
00:21:22,460 --> 00:21:30,200
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,

323
00:21:30,200 --> 00:21:36,860
has completely changed its story, changed its future for its people, and just stacked over 1,000 Bitcoin today, El Salvador.

324
00:21:37,660 --> 00:21:43,060
At the same time when sentiment is seemingly so bad, at the same time when just like a week ago,

325
00:21:43,060 --> 00:21:49,460
4 million plus merchants just got the ability to be onboarded to Bitcoin by pressing a little

326
00:21:49,460 --> 00:21:55,360
on-screen toggle. Like there's so many things that are happening right now that make me so

327
00:21:55,360 --> 00:22:01,560
insanely bullish. And honestly, I just refuse to succumb to the bearish fear mongering. Like

328
00:22:01,560 --> 00:22:09,920
I tweeted this the other day, but when I get the most bullish is when all the gold bugs and all the

329
00:22:09,920 --> 00:22:16,020
fiat economists and all the fucking retards who love to dunk on Bitcoin come out in full force.

330
00:22:16,240 --> 00:22:20,760
And they're like really dunking hard, like told you Bitcoin was, you know, they've been saying

331
00:22:20,760 --> 00:22:24,480
Bitcoin is going to go to zero since it was a thousand dollars. But like now that it's down,

332
00:22:24,560 --> 00:22:30,280
you know, crashed down to 90,000, they're really coming out strong. Like the Peter Schiff, you know,

333
00:22:30,280 --> 00:22:37,060
followers. And it's like, that makes me, that makes me bullish. Like when they are so bearish,

334
00:22:37,060 --> 00:22:38,700
so gleeful, so happy.

335
00:22:39,600 --> 00:22:42,100
I'm like, okay, that's a good signal.

336
00:22:42,500 --> 00:22:45,580
It's a really good signal that now is going to be a fantastic,

337
00:22:45,740 --> 00:22:47,600
in retrospect, a fantastic time to buy.

338
00:22:48,080 --> 00:22:49,240
Okay, mini rant finished.

339
00:22:49,720 --> 00:22:50,540
No, it's absolutely beautiful.

340
00:22:50,680 --> 00:22:52,620
It's funny that you touched on signal because that's exactly it.

341
00:22:53,560 --> 00:22:55,220
If you're feeling, there's kind of a few things.

342
00:22:55,280 --> 00:22:56,480
If you're feeling really down in the dumps,

343
00:22:56,580 --> 00:23:00,520
it's like there's probably an element of like you're not where you want to be yet.

344
00:23:00,520 --> 00:23:03,360
It's like with you and I, we've got the family and things as well too,

345
00:23:03,740 --> 00:23:06,860
so we're not relying on our Bitcoin stack to help us levitate to that position.

346
00:23:06,860 --> 00:23:08,200
we're already building that as well.

347
00:23:08,240 --> 00:23:09,280
And that makes it a little bit easier.

348
00:23:09,300 --> 00:23:10,460
And I can fully admit that.

349
00:23:11,020 --> 00:23:13,020
Even if I didn't have my Bitcoin, my life is still good,

350
00:23:13,060 --> 00:23:14,240
my friends are good, my family is good.

351
00:23:14,280 --> 00:23:16,380
So I've got a foundation that's pretty strong there.

352
00:23:16,920 --> 00:23:20,060
But you're right in that if you're seeing a whole bunch of people dunking on it

353
00:23:20,060 --> 00:23:21,280
and really making you nervous,

354
00:23:21,380 --> 00:23:23,800
it's probably a whole bunch of bad signal as well too.

355
00:23:24,580 --> 00:23:26,300
That you're not putting your time and effort into things

356
00:23:26,300 --> 00:23:27,600
that are helping you understand this better,

357
00:23:27,700 --> 00:23:28,900
helping you grow as a person,

358
00:23:29,020 --> 00:23:30,980
helping you improve, helping you stack more.

359
00:23:31,280 --> 00:23:32,640
And even going back to the OG's comment,

360
00:23:32,640 --> 00:23:40,520
It's funny because if you're always comparing yourself to other people, it's always just going to make life miserable.

361
00:23:41,360 --> 00:23:45,240
There's always somebody better looking than you, faster than you, richer than you.

362
00:23:45,320 --> 00:23:46,280
It's always going to be the case.

363
00:23:46,340 --> 00:23:49,320
You've got to compare yourself to yesterday and what your stack was yesterday.

364
00:23:49,420 --> 00:23:52,540
It's funny because there's really no benefit to looking over your shoulder either.

365
00:23:52,880 --> 00:23:57,340
You ever see those game shows where you have to get 30 seconds on the clock to get a task done?

366
00:23:58,220 --> 00:24:00,080
The people that usually end up doing well, they never look at the clock.

367
00:24:00,160 --> 00:24:01,560
There's no point in looking at the clock.

368
00:24:01,560 --> 00:24:04,860
right that's only going to slow you down it's only going to distract you the same thing here

369
00:24:04,860 --> 00:24:10,280
right and it's funny because and i i truly mean this if you're again you're here you're listening

370
00:24:10,280 --> 00:24:15,340
to us you're hanging out and you're stacking bitcoin you will be one of those ogs right it's

371
00:24:15,340 --> 00:24:20,940
all absolutely relative we all kind of you would have done on-chain transactions in the early days

372
00:24:20,940 --> 00:24:25,840
and it was just finding its way to wall street like you can look at somebody even like a not as

373
00:24:25,840 --> 00:24:28,940
like great examples of people like you look at like bill gates or like steve jobs for example

374
00:24:28,940 --> 00:24:32,220
We can think of them as OGs and computers, but they probably looked like Alan Turning.

375
00:24:32,360 --> 00:24:36,280
You didn't have to be there at the invention to be considered an OG in the space.

376
00:24:36,360 --> 00:24:40,380
There's still tons of work to be done, a huge long line ahead of us.

377
00:24:40,440 --> 00:24:44,100
You don't have to be there in the first two decades in order to get that consideration.

378
00:24:44,780 --> 00:24:50,080
If you're here, if you've done on-chain transactions, if you're self-custody, most people will never self-custody.

379
00:24:50,520 --> 00:24:51,900
Sorry, not on-chain at least.

380
00:24:51,980 --> 00:24:53,720
We might be on the higher protocols, right?

381
00:24:53,720 --> 00:25:02,820
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.

382
00:25:03,220 --> 00:25:15,498
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

383
00:25:15,498 --> 00:25:20,618
or friend already. Yeah. Yeah. 100%. Most people don't have a Bitcoin or friend. Maybe one that

384
00:25:20,618 --> 00:25:24,958
comes along for the journey if they're lucky, but that's it. And so if you're the only one in your

385
00:25:24,958 --> 00:25:29,098
group who's figured this out, who's stacking stats right now, you are going to be an OG even if you

386
00:25:29,098 --> 00:25:33,598
don't consider yourself one right now. And people will look back at you the same way we look back

387
00:25:33,598 --> 00:25:38,138
at Hoddle on his little moped driving through Vegas, stacking stats and go, fuck, I wish

388
00:25:38,138 --> 00:25:38,918
I would have done that.

389
00:25:39,058 --> 00:25:41,958
People are going to look at you and go, shit, 89, 648?

390
00:25:42,078 --> 00:25:43,678
I wish I would have done that.

391
00:25:45,418 --> 00:25:51,758
It's actually so true because, again, like each cycle, if cycles exist, okay, this is

392
00:25:51,758 --> 00:25:55,418
bad, but I'm just going to keep laboring under the delusion that cycles exist.

393
00:25:57,078 --> 00:25:59,378
Each cycle, you have these opportunities.

394
00:25:59,378 --> 00:26:10,058
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.

395
00:26:10,138 --> 00:26:18,898
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.

396
00:26:19,258 --> 00:26:21,038
And so he will just DCA.

397
00:26:21,098 --> 00:26:23,038
And maybe he smash buys when it's hit certain levels.

398
00:26:23,138 --> 00:26:25,338
He has some limited set, but like mostly he's just DCAing.

399
00:26:26,218 --> 00:26:29,458
But the reason you do that is because if you are not in the market,

400
00:26:30,078 --> 00:26:34,038
if you're not in the market exposed in some way during like 10 days of the year,

401
00:26:34,158 --> 00:26:38,178
maybe 10 days of the year, that's when Bitcoin does all of its moving.

402
00:26:38,258 --> 00:26:39,938
That's when Bitcoin rips your face off.

403
00:26:40,418 --> 00:26:43,078
And if you're not there, you miss out on that.

404
00:26:43,318 --> 00:26:44,618
Like if you're trying to time it, if you're waiting,

405
00:26:44,718 --> 00:26:46,858
oh, I'll wait for it to go lower again.

406
00:26:46,858 --> 00:26:49,058
Like, well, that time that you decide to wait for it to go lower

407
00:26:49,058 --> 00:26:50,718
is when it doesn't go lower again, right?

408
00:26:50,938 --> 00:26:53,078
That time that you decide to like, I'm going to sell my few sats

409
00:26:53,078 --> 00:26:54,078
and I'm going to buy back lower.

410
00:26:54,078 --> 00:26:57,858
that's when it that's when it rips your face off like that's when you buy back higher that's when

411
00:26:57,858 --> 00:27:06,338
you buy back at twice the price like man these these moments are are seem very fleeting because

412
00:27:06,338 --> 00:27:12,618
they they kind of are it's like we also we spend so much time either going sideways or going down

413
00:27:12,618 --> 00:27:19,778
it's like it it it's just long enough for you to forget what happens when bitcoin really moves up

414
00:27:19,778 --> 00:27:21,278
like when Bitcoin really moves.

415
00:27:22,178 --> 00:27:24,058
And, you know, again, Bitcoin doesn't care, right?

416
00:27:24,078 --> 00:27:26,518
It's not trying to lull you into a false sense of security.

417
00:27:26,638 --> 00:27:28,698
That's just how it happens to work, right?

418
00:27:29,498 --> 00:27:30,778
But, boy, it sure does.

419
00:27:31,218 --> 00:27:31,938
It sure does.

420
00:27:32,418 --> 00:27:34,458
And it's really easy to get complacent.

421
00:27:34,538 --> 00:27:36,658
It's really easy to think, that's fine.

422
00:27:36,738 --> 00:27:38,658
You know, I'll just, it's going to be down here forever.

423
00:27:38,878 --> 00:27:39,858
Like, maybe it's going to go to lower.

424
00:27:39,898 --> 00:27:40,978
Maybe it's going to go to 58K.

425
00:27:41,118 --> 00:27:42,678
And I don't know, maybe it fucking will.

426
00:27:43,058 --> 00:27:43,998
You have no fucking idea.

427
00:27:44,198 --> 00:27:44,978
I can see a wick.

428
00:27:45,278 --> 00:27:45,998
Two seconds, right?

429
00:27:46,278 --> 00:27:47,458
I mean, honestly, that'd be sweet.

430
00:27:47,458 --> 00:27:49,718
I should probably set some limit orders at 58K.

431
00:27:49,778 --> 00:28:06,358
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.

432
00:28:06,538 --> 00:28:12,098
And whether that be generating more fiat to stack more Bitcoin or finding ways to get paid in Bitcoin for doing things.

433
00:28:12,138 --> 00:28:16,498
And there are all sorts of ways to do that now, which is amazing. You should be doing that.

434
00:28:16,498 --> 00:28:19,878
Like you should be trying your utmost to do that.

435
00:28:20,418 --> 00:28:28,278
Because again, like, I mean, at least I think for both of us, it's like we're no longer stacking for ourselves.

436
00:28:28,558 --> 00:28:30,398
It's like we're stacking for our families.

437
00:28:30,398 --> 00:28:31,938
We're stacking for the next generation.

438
00:28:31,938 --> 00:28:35,458
And like if we do things right, the generation after that and after that.

439
00:28:36,338 --> 00:28:39,458
And not so that we, you know, they put up a monument to us and a statue.

440
00:28:39,578 --> 00:28:41,718
No, just so that we do the best that we can.

441
00:28:41,718 --> 00:28:46,978
because we were born before Bitcoin existed.

442
00:28:47,258 --> 00:28:47,498
Yep.

443
00:28:48,058 --> 00:28:49,958
And now Bitcoin exists,

444
00:28:50,498 --> 00:28:54,478
and we're watching it reprice the world.

445
00:28:55,478 --> 00:28:58,078
Shame on us if we do not act on that.

446
00:28:58,558 --> 00:28:59,478
Like, shame on us.

447
00:29:00,098 --> 00:29:00,918
But luckily we are,

448
00:29:01,018 --> 00:29:02,618
and we're Bitcoin podcasting about it,

449
00:29:02,618 --> 00:29:03,858
so we're doubly acting on it.

450
00:29:03,958 --> 00:29:05,618
So, you know, cheers.

451
00:29:05,898 --> 00:29:06,118
Of course.

452
00:29:06,338 --> 00:29:06,598
Cheers.

453
00:29:06,778 --> 00:29:07,258
Let's allude to that.

454
00:29:07,418 --> 00:29:07,778
Quick one.

455
00:29:09,718 --> 00:29:10,258
You know, it's funny.

456
00:29:10,258 --> 00:29:15,878
I have a good friend who's definitely not my co-host, Gary, during the bear market there.

457
00:29:16,338 --> 00:29:19,478
When it was at $16K, he was sitting there going, it's going to $12K.

458
00:29:19,618 --> 00:29:20,418
It's going to $12K.

459
00:29:20,558 --> 00:29:21,518
I'm going to hold off on that.

460
00:29:21,638 --> 00:29:22,378
I'm not going to buy it.

461
00:29:22,438 --> 00:29:23,078
It's going to $12K.

462
00:29:23,658 --> 00:29:24,618
Guys, I never went to $12K.

463
00:29:25,638 --> 00:29:26,658
Definitely not my co-host, Gary.

464
00:29:26,698 --> 00:29:28,198
I never got his Bitcoin at $16K.

465
00:29:29,138 --> 00:29:31,298
There's no point in timing the market.

466
00:29:31,978 --> 00:29:33,398
It won't matter in the long run.

467
00:29:33,878 --> 00:29:34,398
And you're right.

468
00:29:34,438 --> 00:29:35,298
You're not smart enough to get it.

469
00:29:35,318 --> 00:29:37,578
And the other thing, too, but you are smart enough to get Bitcoin.

470
00:29:37,678 --> 00:29:38,338
This is the key thing.

471
00:29:38,338 --> 00:29:40,818
Bitcoin itself

472
00:29:40,818 --> 00:29:41,498
and I was like

473
00:29:41,498 --> 00:29:42,418
Bitcoin self-custody

474
00:29:42,418 --> 00:29:43,098
is not that hard

475
00:29:43,098 --> 00:29:44,238
and understanding Bitcoin

476
00:29:44,238 --> 00:29:45,338
is actually all not that

477
00:29:45,338 --> 00:29:46,358
difficult either

478
00:29:46,358 --> 00:29:47,158
it's complex

479
00:29:47,158 --> 00:29:48,278
there's a lot of moving parts

480
00:29:48,278 --> 00:29:49,238
but each one individually

481
00:29:49,238 --> 00:29:50,438
is not actually all that difficult

482
00:29:50,438 --> 00:29:51,578
it's kind of like a car engine right

483
00:29:51,578 --> 00:29:51,918
you know

484
00:29:51,918 --> 00:29:52,738
taking gas

485
00:29:52,738 --> 00:29:53,138
ignited

486
00:29:53,138 --> 00:29:54,218
it's not too bad

487
00:29:54,218 --> 00:29:55,078
however

488
00:29:55,078 --> 00:29:57,078
understanding Bitcoin is

489
00:29:57,078 --> 00:29:58,258
the reason that we're seeing

490
00:29:58,258 --> 00:29:59,418
the price reflected right now

491
00:29:59,418 --> 00:30:00,418
is basically a reflection

492
00:30:00,418 --> 00:30:01,338
that nobody understands

493
00:30:01,338 --> 00:30:01,838
what they hold

494
00:30:01,838 --> 00:30:02,638
they don't

495
00:30:02,638 --> 00:30:03,178
if they did

496
00:30:03,178 --> 00:30:03,878
they wouldn't do it

497
00:30:03,878 --> 00:30:05,398
and so putting in the time and effort

498
00:30:05,398 --> 00:30:06,198
into understanding that

499
00:30:06,198 --> 00:30:06,918
and getting the conviction

500
00:30:06,918 --> 00:30:07,598
really makes the difference

501
00:30:07,598 --> 00:30:11,178
And if you do get it, like that's not easy.

502
00:30:11,358 --> 00:30:13,238
It requires going against what?

503
00:30:13,458 --> 00:30:20,738
How many years of central school education, going against the entire peer group, your family, business, marketing, TV, presidents, politicians.

504
00:30:20,878 --> 00:30:21,998
You take your pick, right?

505
00:30:22,478 --> 00:30:26,558
Everybody out there is working their ass off for fiat and driving themselves insane.

506
00:30:26,698 --> 00:30:28,158
You're the first one to go like, I don't want that.

507
00:30:28,218 --> 00:30:28,838
I want this thing.

508
00:30:28,898 --> 00:30:29,878
Of course you're going to look crazy.

509
00:30:29,958 --> 00:30:31,158
And of course most people won't do it.

510
00:30:31,258 --> 00:30:33,458
So like, again, cheers to you if you're here.

511
00:30:33,538 --> 00:30:35,918
But you're going to see – this is not the worst.

512
00:30:36,018 --> 00:30:36,898
There's going to be worse.

513
00:30:36,898 --> 00:30:46,118
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.

514
00:30:46,218 --> 00:30:53,898
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.

515
00:30:54,358 --> 00:31:01,418
If MicroStrategy ever gets sold off for parts or assumed control by the US government, that might be reflected in the price.

516
00:31:01,918 --> 00:31:04,918
We've got the quantum FUD, I think, is not really a big deal.

517
00:31:05,018 --> 00:31:06,458
I think we have a lot of time to prepare for it.

518
00:31:06,458 --> 00:31:10,758
But people often talk about, well, what do you do about the older coins, like Satoshi's

519
00:31:10,758 --> 00:31:11,518
coins and these things?

520
00:31:11,938 --> 00:31:14,158
My stance is very firm and very simple.

521
00:31:14,338 --> 00:31:17,518
I kind of take it's just from a private property rights, just kind of extrapolating Austrian

522
00:31:17,518 --> 00:31:20,418
economics, is that I look at it kind of like sunken gold on the bottom of the ocean.

523
00:31:20,578 --> 00:31:23,838
If you had a ship that sunk and someone actually dove down and got it, well, they got it.

524
00:31:23,898 --> 00:31:24,878
They didn't inflate the supply.

525
00:31:24,998 --> 00:31:26,398
It wasn't a violation of the property rights.

526
00:31:26,798 --> 00:31:30,558
So there's a good chance that Satoshi's coins get unlocked and sold at some point in time.

527
00:31:30,558 --> 00:31:33,798
The market's going to really fucking puke when that happens.

528
00:31:34,178 --> 00:31:34,978
But don't worry about it.

529
00:31:35,218 --> 00:31:36,058
Just get some of those.

530
00:31:36,298 --> 00:31:38,138
Say that you actually bought some of Satoshi's stack.

531
00:31:38,198 --> 00:31:38,798
That's phenomenal.

532
00:31:39,398 --> 00:31:40,998
This is not the worst that's going to happen.

533
00:31:41,098 --> 00:31:42,378
You'll have other buying opportunities.

534
00:31:42,518 --> 00:31:43,998
Be happy when they come along.

535
00:31:44,738 --> 00:31:49,738
The I was right moments in Bitcoin are only so sweet because they're rare.

536
00:31:51,638 --> 00:31:52,938
That is well said.

537
00:31:52,938 --> 00:31:59,518
I, by the way, I share the same opinion as you regarding, uh, regarding like how to handle

538
00:31:59,518 --> 00:32:05,158
potential quantum threats, which is like, we, as soon as you set the precedent that you're going to

539
00:32:05,158 --> 00:32:08,518
make decisions about someone else's property, cause these coins are lost, like, because then

540
00:32:08,518 --> 00:32:14,218
what other, what other like lost coins do you make that decision for? A hundred percent. And as soon

541
00:32:14,218 --> 00:32:19,858
as you do that, make the precedent you set in my mind is just untenable. Like that, that, you know,

542
00:32:19,858 --> 00:32:23,078
And that may very well result in a fork or something, right?

543
00:32:23,458 --> 00:32:24,098
Probably will.

544
00:32:24,838 --> 00:32:25,758
Almost certainly.

545
00:32:26,338 --> 00:32:41,158
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.

546
00:32:41,258 --> 00:32:42,838
But hey, we've got some time before that happens.

547
00:32:42,918 --> 00:32:47,498
I know everybody likes to doom that quantum is happening like right now, man, like right now.

548
00:32:47,658 --> 00:32:48,718
It's probably way out.

549
00:32:48,718 --> 00:32:54,758
But yeah, I think it's way farther out than people want to admit, which is a good thing, right?

550
00:32:54,798 --> 00:32:55,658
You've got time.

551
00:32:56,078 --> 00:33:01,058
Like right now, all you have to worry about is how are you going to stack more corn?

552
00:33:01,438 --> 00:33:05,618
Because while everyone else is freaking out, like you have an opportunity.

553
00:33:05,858 --> 00:33:07,498
And again, we talked about this last time.

554
00:33:07,558 --> 00:33:11,598
It's like if you are here right now and you're listening to this and you're aware of this,

555
00:33:11,738 --> 00:33:14,378
and especially if you already own some sats, fantastic.

556
00:33:14,378 --> 00:33:18,418
You can get some more cheaper than you could get them yesterday and the day before and the week before.

557
00:33:18,718 --> 00:33:20,278
You don't own any Bitcoin.

558
00:33:20,518 --> 00:33:23,718
Like, wow, you've been gifted a great opportunity.

559
00:33:23,858 --> 00:33:26,758
You didn't have to buy sats at $126K per Bitcoin.

560
00:33:26,898 --> 00:33:28,398
You can buy them at $90K.

561
00:33:28,698 --> 00:33:30,378
Like, that's fantastic.

562
00:33:30,678 --> 00:33:33,398
Like, that's a great deal right there, in my opinion.

563
00:33:33,918 --> 00:33:35,718
Go back to the COVID crash, right, too.

564
00:33:35,778 --> 00:33:39,258
How many people look at the COVID crash when Bitcoin went down to $3,000?

565
00:33:39,738 --> 00:33:41,278
And guys, that wasn't that very long ago.

566
00:33:41,418 --> 00:33:42,618
That wasn't that long ago.

567
00:33:42,858 --> 00:33:46,018
And everyone goes, oh, man, I wish I could have bought them.

568
00:33:46,598 --> 00:33:47,898
Well, most people didn't.

569
00:33:47,898 --> 00:33:51,398
they were scared shitless of everything that's going on in the world and those moments will

570
00:33:51,398 --> 00:33:56,458
come again and this is like a mini version of that right here as well too it's the exact time

571
00:33:56,458 --> 00:34:02,038
when you should be stacking if you looked if you looked at the run from like three then back up to

572
00:34:02,038 --> 00:34:05,818
20 and then off to the races and you want to be a part of it same thing's going to happen here

573
00:34:05,818 --> 00:34:10,538
bitcoin's not done we haven't peaked it's not over the game is still just getting going

574
00:34:10,538 --> 00:34:15,698
so take advantage of it while you can and then you'll get to have those i told you some moments

575
00:34:15,698 --> 00:34:23,058
that i think is actually the fundamental point is that okay you you can have basically two

576
00:34:23,058 --> 00:34:29,778
you can have one thesis or another when it comes to bitcoin like you either think that bitcoin is

577
00:34:29,778 --> 00:34:35,078
worthless and it's going to zero or you know negative zero is peter zayhan or zeehan or whatever

578
00:34:35,078 --> 00:34:44,298
so bad god that fucking moron um or you can think bitcoin's not going to zero and if it if it's not

579
00:34:44,298 --> 00:34:50,778
going to zero, it's going as far away from zero as it can possibly get. It is going to keep going

580
00:34:50,778 --> 00:34:55,078
up and up and up to the right with volatility. It is going to reprice the entire world. They will

581
00:34:55,078 --> 00:35:01,158
never stop printing fiat. We only have 21 million Bitcoin. As of like today or yesterday, 95%

582
00:35:01,158 --> 00:35:06,318
of the total supply is out there, 5% more until the year 2140. Okay, they will never make any

583
00:35:06,318 --> 00:35:10,538
more Bitcoin. They will always make more fiat. If you do not think Bitcoin is going to zero,

584
00:35:10,538 --> 00:35:15,478
you necessarily must believe that Bitcoin will just keep going up into the right forever.

585
00:35:16,338 --> 00:35:21,898
Now, when it hits certain milestones that we've decided to put on it with certain round numbers,

586
00:35:21,998 --> 00:35:25,898
usually attributed to U.S. dollars, but if you've been measuring it in Turkish lira,

587
00:35:26,118 --> 00:35:29,078
you've got a completely different set of, if you're living in Istanbul,

588
00:35:29,498 --> 00:35:32,978
you've got a completely different set of measurements than folks in the U.S.

589
00:35:32,978 --> 00:35:36,738
If you're measuring Canadian moose shekels, you've got a completely different set of measurements,

590
00:35:36,738 --> 00:35:44,238
and on and on. The point being, if you do not think Bitcoin is going to go to zero,

591
00:35:44,878 --> 00:35:48,098
if you have the conviction and you're already here and you're listening to this and you believe

592
00:35:48,098 --> 00:35:52,798
that Bitcoin is going to reprice the entire world, it's going to demonetize gold, it's going to

593
00:35:52,798 --> 00:35:56,178
demonetize real estate. We're already seeing this, right? We're already seeing this happen.

594
00:35:56,498 --> 00:35:59,518
It's not even like you have to imagine it. You're seeing it happen in real time.

595
00:36:00,118 --> 00:36:06,238
If you believe that will continue, then there's not even any question about what you do.

596
00:36:06,238 --> 00:36:10,338
there's not even any question about, oh, should I, am I bearish or not or bullish?

597
00:36:10,438 --> 00:36:16,178
It's like, if you can think on longer than four year time scales, you're okay.

598
00:36:16,858 --> 00:36:19,018
Because it is only going one way.

599
00:36:19,198 --> 00:36:20,978
And yes, it will go that way with volatility.

600
00:36:21,338 --> 00:36:21,658
Yes.

601
00:36:21,758 --> 00:36:24,618
And that volatility will be sometimes gut wrenching and sickening.

602
00:36:24,638 --> 00:36:29,638
And you'll be like, oh God, you know, you know, should have done X, Y, Z different.

603
00:36:29,718 --> 00:36:30,338
Should have timed this.

604
00:36:30,458 --> 00:36:30,938
But you know what?

605
00:36:31,298 --> 00:36:32,678
Like, you're not perfect.

606
00:36:32,758 --> 00:36:33,258
I'm not perfect.

607
00:36:33,338 --> 00:36:33,938
None of us are perfect.

608
00:36:33,938 --> 00:36:36,718
None of us are, no one is perfect to timing the market, right?

609
00:36:37,598 --> 00:36:41,798
And if you zoom out and you just keep focusing on not trying to time the market, but instead

610
00:36:41,798 --> 00:36:46,598
just trying to create value, trying to bring in more value, and then trying to use that

611
00:36:46,598 --> 00:36:50,078
value that you've created to acquire more Bitcoin, hopefully directly, you know, without

612
00:36:50,078 --> 00:36:51,958
even needing to involve fiat in it, that's the best.

613
00:36:52,798 --> 00:36:53,798
You're going to be okay.

614
00:36:54,458 --> 00:36:55,278
You're going to be okay.

615
00:36:55,278 --> 00:36:59,618
Because if you can just wait a few years, if you can wait, like Bitcoin is going to

616
00:36:59,618 --> 00:36:59,978
be higher.

617
00:36:59,978 --> 00:37:04,538
And again, that's if you're just measuring it in this broken fucking fiat system.

618
00:37:05,258 --> 00:37:06,198
Like that's the thing.

619
00:37:06,338 --> 00:37:13,218
We're at a difficult time because our brains are structured in such a way that fiat is all we know.

620
00:37:13,458 --> 00:37:14,798
We were born into fiat.

621
00:37:14,918 --> 00:37:16,218
We're creatures of fiat, right?

622
00:37:17,158 --> 00:37:19,238
Like fiat is the water that we swim in.

623
00:37:19,758 --> 00:37:22,098
Bitcoin is something completely alien to us.

624
00:37:22,558 --> 00:37:28,318
And now we're watching it completely reprice the world in front of our eyes,

625
00:37:28,318 --> 00:37:31,638
which looks really wild happening in real time.

626
00:37:32,118 --> 00:37:34,078
But like when you look back,

627
00:37:34,158 --> 00:37:35,778
when you go to the year 2140

628
00:37:35,778 --> 00:37:37,838
and you look back on this remonetization period,

629
00:37:38,358 --> 00:37:39,498
this repricing period,

630
00:37:39,938 --> 00:37:42,358
it's going to look just so obvious.

631
00:37:42,838 --> 00:37:43,338
It's going to look like,

632
00:37:43,398 --> 00:37:44,978
well, of course you should have bought

633
00:37:44,978 --> 00:37:47,218
at any point in 2025 or 2026.

634
00:37:47,478 --> 00:37:48,998
You should have just bought at any point.

635
00:37:49,298 --> 00:37:49,778
In time.

636
00:37:50,018 --> 00:37:51,398
Like this entire time.

637
00:37:51,498 --> 00:37:54,038
And you would have, quote, made money.

638
00:37:54,758 --> 00:37:55,958
But then there's the whole question,

639
00:37:56,058 --> 00:37:57,398
and this is where Jeff Booth would be like,

640
00:37:57,398 --> 00:38:00,358
but you're still thinking about it wrong because you're still thinking about

641
00:38:00,358 --> 00:38:01,438
trying to make money off it.

642
00:38:01,618 --> 00:38:02,518
And Bitcoin is the money.

643
00:38:02,638 --> 00:38:03,278
Like you're not,

644
00:38:03,378 --> 00:38:06,078
what you're thinking about is trying to make fiat credit off of it,

645
00:38:06,138 --> 00:38:07,018
which is nothing.

646
00:38:07,278 --> 00:38:08,158
And so again,

647
00:38:08,538 --> 00:38:10,498
shout out to Jeff Booth for always keeping,

648
00:38:10,958 --> 00:38:14,918
keeping me and everybody else grounded in that realization that you are

649
00:38:14,918 --> 00:38:18,818
holding the best money and the purest form of money that has ever existed.

650
00:38:19,938 --> 00:38:20,738
Like again,

651
00:38:21,358 --> 00:38:25,518
shame on us if we don't wise the fuck up to that fact and do everything we can

652
00:38:25,518 --> 00:38:27,058
to acquire more of it.

653
00:38:27,058 --> 00:38:31,118
And then also to go and spend it and you can just replace it immediately.

654
00:38:31,118 --> 00:38:32,898
And then it's not a taxable event and it's okay.

655
00:38:33,078 --> 00:38:34,678
And also fuck the IRS.

656
00:38:34,838 --> 00:38:35,238
There's that.

657
00:38:36,018 --> 00:38:36,418
Yeah.

658
00:38:36,978 --> 00:38:39,118
I lost all my Bitcoin in a boating accident.

659
00:38:39,438 --> 00:38:40,778
Didn't even have any to begin with.

660
00:38:41,038 --> 00:38:45,838
I'm a LARP, but if the IRS is listening, but also I fucking, I was just thinking, I was

661
00:38:45,838 --> 00:38:50,378
just prepaying some taxes today and boy, that's just what a kick in the, what a kick in the

662
00:38:50,378 --> 00:38:51,098
dick that is.

663
00:38:51,358 --> 00:38:52,478
Just absolutely horrible.

664
00:38:52,978 --> 00:38:54,578
Just a, just a kick in the penis.

665
00:38:54,678 --> 00:38:55,618
That's what that is right there.

666
00:38:55,618 --> 00:38:56,158
I don't know.

667
00:38:56,158 --> 00:39:03,258
I digress, but we're at a beautiful time where we are aware that Bitcoin exists in its infancy.

668
00:39:03,718 --> 00:39:04,698
You are not late.

669
00:39:04,818 --> 00:39:05,538
You are still early.

670
00:39:06,198 --> 00:39:07,778
This will reprice the entire world.

671
00:39:08,518 --> 00:39:10,398
Everything will get cheaper if you save in Bitcoin.

672
00:39:10,758 --> 00:39:11,138
Everything.

673
00:39:11,558 --> 00:39:11,838
Forever.

674
00:39:13,038 --> 00:39:15,118
All you have to do is just keep stacking.

675
00:39:15,998 --> 00:39:16,698
It's that easy.

676
00:39:17,318 --> 00:39:20,618
But people don't want to believe a solution can be that easy, I think.

677
00:39:20,838 --> 00:39:22,318
But that's just like our fiat brains again.

678
00:39:22,358 --> 00:39:22,778
You know what I mean?

679
00:39:22,778 --> 00:39:28,338
No, it's like you can logically do something about not emotionally grip it yet.

680
00:39:28,978 --> 00:39:33,698
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.

681
00:39:33,778 --> 00:39:34,898
And it's really hard to get to that point too.

682
00:39:35,078 --> 00:39:39,218
But even what you're saying, it's like you basically have two graphs kind of going on at the same time.

683
00:39:39,278 --> 00:39:44,658
You have the price of everything that you possibly want in life and the current price of Bitcoin or your current stack of Bitcoin.

684
00:39:45,178 --> 00:39:48,118
And over time, the price of everything that you want is coming down in Bitcoin terms.

685
00:39:48,238 --> 00:39:49,278
And your stack can stay the same.

686
00:39:49,338 --> 00:39:50,318
It can go down or it can go up.

687
00:39:50,318 --> 00:39:57,798
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.

688
00:39:57,918 --> 00:39:59,358
And time really is the most scarce thing you have.

689
00:39:59,458 --> 00:40:06,218
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.

690
00:40:06,318 --> 00:40:08,358
You're closing that gap even faster.

691
00:40:08,498 --> 00:40:10,058
And it's not a – you're right.

692
00:40:10,138 --> 00:40:12,278
Bitcoin is either going to zero or it's just taking over everything.

693
00:40:12,358 --> 00:40:14,138
There's nothing in between because it's a money.

694
00:40:14,438 --> 00:40:18,858
It has no other use case, which is – like that's a feature, not a bug by far, right?

695
00:40:18,858 --> 00:40:21,878
Its only value is a monetary value.

696
00:40:22,338 --> 00:40:25,178
If it's not money, then it has no value, right?

697
00:40:25,238 --> 00:40:26,618
Even though all that is subjective, yada, yada, yada.

698
00:40:28,718 --> 00:40:32,218
It reminds me of when people say, like, you have a 50% chance of divorce.

699
00:40:32,398 --> 00:40:32,878
It's like, fuck you.

700
00:40:32,938 --> 00:40:33,338
No, I don't.

701
00:40:33,398 --> 00:40:34,138
It's not a coin flip.

702
00:40:34,458 --> 00:40:36,298
I actually impact that outcome.

703
00:40:36,438 --> 00:40:37,318
I can make changes.

704
00:40:37,418 --> 00:40:38,258
I can improve things.

705
00:40:38,318 --> 00:40:39,278
Here's what we did beforehand.

706
00:40:39,638 --> 00:40:41,478
You can skew those odds in your favor.

707
00:40:41,798 --> 00:40:42,818
It's the same thing with Bitcoin.

708
00:40:42,978 --> 00:40:45,318
Okay, Bitcoin's going to zero or it's going to take over everything.

709
00:40:45,678 --> 00:40:47,718
Well, you can actually tip the scales in your favor.

710
00:40:48,218 --> 00:40:48,898
You can stack it.

711
00:40:49,058 --> 00:40:49,658
That actually helps.

712
00:40:49,998 --> 00:40:51,458
You can spend it, like Walker was saying.

713
00:40:51,638 --> 00:40:52,378
That helps as well, too.

714
00:40:52,638 --> 00:40:55,118
You can contribute by teaching other people, telling people about it.

715
00:40:55,178 --> 00:40:57,038
You can use it as a medium of exchange at your store.

716
00:40:57,138 --> 00:40:57,978
You can contribute code.

717
00:40:58,038 --> 00:40:58,738
You can contribute marketing.

718
00:40:58,838 --> 00:40:59,598
You can contribute means.

719
00:40:59,658 --> 00:41:00,618
You can start a Bitcoin podcast.

720
00:41:00,718 --> 00:41:01,398
We talked about that last time.

721
00:41:01,398 --> 00:41:02,298
We'll talk about it every time.

722
00:41:03,338 --> 00:41:07,158
It's not something that's just going to happen.

723
00:41:07,158 --> 00:41:10,838
Bitcoin is just a protocol for value communication.

724
00:41:11,478 --> 00:41:12,998
We're the ones behind it.

725
00:41:13,098 --> 00:41:14,498
We're the ones using the tool.

726
00:41:15,058 --> 00:41:19,418
And so if you're here and you want Bitcoin to reprice everything, well, then you can contribute.

727
00:41:19,538 --> 00:41:22,498
The smallest thing you can do is just hold it and use it.

728
00:41:22,818 --> 00:41:24,118
But there's a lot more that you can do too.

729
00:41:24,198 --> 00:41:25,398
You can impact that scale.

730
00:41:25,718 --> 00:41:31,718
You can tip the odds in your favor by participating in the Bitcoin network in whatever way possible.

731
00:41:31,878 --> 00:41:36,618
And that might just be as simply as like trying to have another conversation with your stubborn brother-in-law.

732
00:41:36,738 --> 00:41:37,518
I don't know.

733
00:41:37,958 --> 00:41:39,158
But we are the marketing team.

734
00:41:39,238 --> 00:41:39,858
We are the advocates.

735
00:41:39,998 --> 00:41:40,678
We are the ones that use it.

736
00:41:40,718 --> 00:41:41,478
We are the ones that improve it.

737
00:41:41,498 --> 00:41:43,578
We are the ones that vote on the protocol, whether you vote on the protocol or not.

738
00:41:43,578 --> 00:41:45,338
We're the ones that can make new apps, new things.

739
00:41:45,438 --> 00:41:47,598
I saw fucking – you're talking about El Salvador.

740
00:41:47,758 --> 00:41:49,978
Pablo was just down at – what is it?

741
00:41:49,978 --> 00:41:52,358
My first Bitcoin from BullBitcoin down in El Salvador.

742
00:41:52,458 --> 00:41:53,858
They're doing education all over the world.

743
00:41:53,958 --> 00:41:57,738
BullBitcoin just released a new recovery protocol that I saw them sending out an email about today.

744
00:41:57,918 --> 00:42:04,798
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.

745
00:42:05,198 --> 00:42:10,898
When I help Bitcoin, when I work on Bitcoin, when I teach people Bitcoin, that helps me in just a magnitude of ways too.

746
00:42:10,898 --> 00:42:14,538
Plus, it's one of the few things in this world that I can actually walk away and say it had an impact.

747
00:42:15,078 --> 00:42:16,858
Like my family, number one, totally do.

748
00:42:17,178 --> 00:42:17,678
Kids love me.

749
00:42:17,798 --> 00:42:18,378
I'm a great dad.

750
00:42:18,538 --> 00:42:19,158
The best dad.

751
00:42:19,398 --> 00:42:20,278
The best you've ever seen.

752
00:42:20,898 --> 00:42:21,798
Many people are saying.

753
00:42:21,978 --> 00:42:22,878
Many people are saying.

754
00:42:23,438 --> 00:42:25,518
And that I know has meaning in this world.

755
00:42:25,558 --> 00:42:27,238
But my last fiat job, I can walk away from that.

756
00:42:27,278 --> 00:42:28,938
There's like zero impact on the world.

757
00:42:29,218 --> 00:42:33,198
But I've had the opportunity to actually educate and train people on Bitcoin and show them and teach them about Bitcoin.

758
00:42:33,618 --> 00:42:35,518
And I know that will have a lasting impact.

759
00:42:35,638 --> 00:42:38,138
So you can not only tip the scales in your favor.

760
00:42:38,438 --> 00:42:40,018
You can have a lasting impact and a legacy.

761
00:42:40,018 --> 00:42:45,478
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.

762
00:42:46,038 --> 00:42:46,758
This is just a blip.

763
00:42:47,338 --> 00:42:47,978
Have the conviction.

764
00:42:48,898 --> 00:42:49,518
Suck it up.

765
00:42:49,938 --> 00:42:51,058
We all go through it together.

766
00:42:51,338 --> 00:42:52,298
That's why we're here.

767
00:42:54,758 --> 00:42:56,418
I say amen to that.

768
00:42:57,218 --> 00:42:57,398
Amen, brother.

769
00:42:57,398 --> 00:42:58,258
I say amen to that.

770
00:42:58,258 --> 00:43:06,318
I think that it's natural that when it comes to money,

771
00:43:07,618 --> 00:43:09,058
like there's a deep,

772
00:43:09,178 --> 00:43:11,198
like there's a deep,

773
00:43:11,278 --> 00:43:13,618
just like gut feeling that happens with all of this.

774
00:43:13,618 --> 00:43:13,878
Right.

775
00:43:14,378 --> 00:43:15,358
There's a reason that this,

776
00:43:15,458 --> 00:43:15,578
when,

777
00:43:15,658 --> 00:43:16,678
when Bitcoin is,

778
00:43:16,678 --> 00:43:18,118
is crashing,

779
00:43:18,278 --> 00:43:19,458
is dipping,

780
00:43:19,638 --> 00:43:21,798
there's a reason it's like,

781
00:43:21,798 --> 00:43:22,798
fuck,

782
00:43:22,858 --> 00:43:26,278
especially when you are like as all into Bitcoin as you can be.

783
00:43:26,338 --> 00:43:26,558
Right.

784
00:43:26,678 --> 00:43:27,338
Like that,

785
00:43:27,418 --> 00:43:28,238
that of course,

786
00:43:28,258 --> 00:43:30,638
because you're watching it fluctuate.

787
00:43:30,818 --> 00:43:36,418
But making that mentality shift to saying, yeah, this is like, damn.

788
00:43:36,918 --> 00:43:39,298
Sure, it's more fun when Bitcoin's going up, right?

789
00:43:39,458 --> 00:43:42,098
Sure, the dopamine hits, yes.

790
00:43:43,318 --> 00:43:45,638
Suck it, Peter Schiff.

791
00:43:45,898 --> 00:43:47,418
Suck it, you fiat economist.

792
00:43:47,758 --> 00:43:51,858
Suck it, random friend who still thinks Bitcoin's a scam

793
00:43:51,858 --> 00:43:56,918
and decided to buy XRP and is just a big old, like many such cases.

794
00:43:58,258 --> 00:44:09,658
But I feel like when Bitcoin is crashing, when Bitcoin is dipping, that's where the real culture starts to come out.

795
00:44:09,818 --> 00:44:11,178
That's when the memes get better.

796
00:44:11,478 --> 00:44:20,718
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.

797
00:44:20,718 --> 00:44:23,558
Like, let's just eviscerate them, right?

798
00:44:23,578 --> 00:44:26,718
Because we know we're going to be proven right in a little while and they'll delete their tweets.

799
00:44:27,718 --> 00:44:29,558
But it's like when Bitcoin is just like chopping sideways,

800
00:44:29,698 --> 00:44:32,038
that's when Bitcoiners are fighting against each other.

801
00:44:32,458 --> 00:44:34,058
And again, I'm still relatively new to this.

802
00:44:34,098 --> 00:44:35,698
I'm just calling out the patterns as I see them.

803
00:44:36,018 --> 00:44:37,558
But when Bitcoin's chopping away sideways,

804
00:44:37,558 --> 00:44:39,578
that's when you see people, Bitcoiners,

805
00:44:39,638 --> 00:44:40,858
just at each other's throats, right?

806
00:44:41,398 --> 00:44:43,958
When Bitcoin's crashing, it's like that's when we're,

807
00:44:45,078 --> 00:44:47,398
that phalanx is formed up tight

808
00:44:47,398 --> 00:44:51,778
and we are ready to just absolutely level any critics

809
00:44:51,778 --> 00:44:52,678
who would come at Bitcoin.

810
00:44:53,618 --> 00:44:54,958
And when Bitcoin's ripping, it's just like,

811
00:44:55,018 --> 00:44:55,778
hey, now it's a party.

812
00:44:55,778 --> 00:44:57,058
like, okay, who cares?

813
00:44:57,198 --> 00:44:58,038
Okay, you were all wrong.

814
00:44:59,078 --> 00:45:00,498
But I think that's why like Bitcoin,

815
00:45:00,998 --> 00:45:01,958
like Bitcoin dipping,

816
00:45:02,078 --> 00:45:05,818
like that's where the real shit happens.

817
00:45:06,018 --> 00:45:07,118
And again, because that's where

818
00:45:07,118 --> 00:45:08,758
the greatest opportunities are.

819
00:45:09,558 --> 00:45:13,178
Like you made a great point earlier

820
00:45:13,178 --> 00:45:15,078
looking back at that COVID crash,

821
00:45:15,218 --> 00:45:15,698
like when it, you know,

822
00:45:15,758 --> 00:45:17,558
wicked down to I think what, 35?

823
00:45:18,098 --> 00:45:19,438
Yeah, some of that, 3,000 something.

824
00:45:19,958 --> 00:45:21,058
Which is wild.

825
00:45:21,238 --> 00:45:23,158
Like if I could go back

826
00:45:23,158 --> 00:45:25,578
and stack more sats at that point,

827
00:45:25,578 --> 00:45:28,138
Boy, I got the issue.

828
00:45:28,138 --> 00:45:28,738
We're up 30x from there right now.

829
00:45:28,818 --> 00:45:30,458
It's a 30x from that COVID crash.

830
00:45:31,338 --> 00:45:32,358
Yeah, yeah.

831
00:45:32,738 --> 00:45:35,798
And so that, like, boy, we would all like to go back to that.

832
00:45:35,918 --> 00:45:36,438
And you know what?

833
00:45:36,518 --> 00:45:39,458
That was, okay, so that was a little over five years ago.

834
00:45:40,078 --> 00:45:42,158
Like, a little over five years from now.

835
00:45:42,538 --> 00:45:46,078
How do you think you'll be feeling about this moment, this moment right now?

836
00:45:46,218 --> 00:45:48,438
You're on November 17th, 2025.

837
00:45:49,558 --> 00:45:55,398
Are you going to be looking at this and saying, oh, thank gosh I didn't buy more Bitcoin there.

838
00:45:55,578 --> 00:46:00,158
because, boy, it just, no, you're going to be like, shit, shit.

839
00:46:00,278 --> 00:46:01,418
Maybe it went a little bit lower.

840
00:46:01,638 --> 00:46:03,598
Maybe it goes a little bit lower in the coming days, weeks, months.

841
00:46:03,678 --> 00:46:04,098
I don't know.

842
00:46:04,298 --> 00:46:06,178
And I don't have a fucking crystal ball.

843
00:46:06,978 --> 00:46:10,358
But I can pretty much guarantee that five years from now,

844
00:46:10,418 --> 00:46:13,758
if we take the same amount of time that it's been since that COVID crash down,

845
00:46:14,158 --> 00:46:16,798
you go five years from now, we're sitting at 2030,

846
00:46:17,458 --> 00:46:21,438
you are not going to be looking back at today right now and saying,

847
00:46:21,698 --> 00:46:24,738
boy, I'm sure glad I didn't buy, you know, stack more sats.

848
00:46:25,578 --> 00:46:29,598
there's just, there's no conceivable world in which that happened.

849
00:46:29,678 --> 00:46:32,198
I mean, I guess there's a multiverse out there.

850
00:46:32,278 --> 00:46:34,578
You know, there's a different form of reality where that happens maybe.

851
00:46:34,818 --> 00:46:36,018
There's one universe where Schiff is right.

852
00:46:39,938 --> 00:46:43,238
Oh, what a messed up universe that would be too.

853
00:46:43,938 --> 00:46:45,418
I'm so glad we don't live in that one.

854
00:46:45,418 --> 00:46:47,778
I'm so glad we live in the universe where Peter Schiff has been wrong

855
00:46:47,778 --> 00:46:52,138
for over a decade about Bitcoin and still somehow thinks he's the,

856
00:46:52,198 --> 00:46:53,778
you know, he's the genius out there.

857
00:46:53,778 --> 00:46:56,478
I mean, truly the levels of hubris on that man are shocking.

858
00:46:56,558 --> 00:46:58,338
I'd love to have a beer with Peter Schiff, though, I'll say.

859
00:46:58,798 --> 00:47:00,158
I would love to have a beer with him.

860
00:47:00,498 --> 00:47:05,778
I would love to find out, like, just me and him, we get maybe, we get like 21 beers deep.

861
00:47:06,038 --> 00:47:06,258
Yep.

862
00:47:06,478 --> 00:47:18,618
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.

863
00:47:18,678 --> 00:47:20,178
Like, I'm genuinely curious.

864
00:47:20,778 --> 00:47:23,638
So, Peter, if you're out there, I'll fly down to Puerto Rico.

865
00:47:24,058 --> 00:47:26,258
We can – 21 beers each on me.

866
00:47:26,418 --> 00:47:29,358
After 21 – we don't say a word until we drink that 21st beer.

867
00:47:29,798 --> 00:47:31,438
After that 21st beer, we start talking.

868
00:47:31,898 --> 00:47:32,538
We just see what happens.

869
00:47:32,618 --> 00:47:33,658
Maybe we podcast about it.

870
00:47:33,738 --> 00:47:38,538
It's a silent podcast for the first approximately three hours it takes us to drink those 21 beers.

871
00:47:38,538 --> 00:47:40,718
Seven beers an hour for three hours.

872
00:47:41,018 --> 00:47:43,438
Then the podcast starts having audio.

873
00:47:43,858 --> 00:47:48,038
You just got Jamie in the background with a little counter like one, two, three on screen.

874
00:47:48,858 --> 00:47:50,058
Honestly, I'd be super down for this.

875
00:47:50,178 --> 00:47:51,158
It sounds like a good time to me.

876
00:47:51,778 --> 00:47:53,398
But yeah, again, I digress.

877
00:47:54,198 --> 00:47:58,758
But it's – you have a great chance right now.

878
00:47:58,898 --> 00:48:05,998
Like when everyone, all the fucking mid-curve mainstream normie talking heads are telling you you're wrong,

879
00:48:06,798 --> 00:48:14,518
it's usually a pretty good indication that, wow, it's a nice time to stack a few extra sats if you can.

880
00:48:14,878 --> 00:48:16,538
But the biggest problem is just having the dry powder.

881
00:48:16,878 --> 00:48:19,078
It's like, where are you guys all getting this dry powder from?

882
00:48:19,218 --> 00:48:19,398
Fuck.

883
00:48:19,398 --> 00:48:20,198
You guys got Fiat?

884
00:48:20,338 --> 00:48:21,498
Like, what the hell is happening here?

885
00:48:21,958 --> 00:48:22,578
Damn it.

886
00:48:22,978 --> 00:48:24,498
We'll take the flip side of the coin, too, right?

887
00:48:24,558 --> 00:48:29,038
Like, how – I would actually be relatively apprehensive if everybody was talking about it, right?

888
00:48:29,038 --> 00:48:38,018
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.

889
00:48:38,338 --> 00:48:39,438
It's kind of one of two things.

890
00:48:39,778 --> 00:48:40,738
We're at a top.

891
00:48:40,878 --> 00:48:43,798
Things are frothy and it's about to come down hard and fast.

892
00:48:43,798 --> 00:48:47,118
or Bitcoin adoption accelerated at a speed

893
00:48:47,118 --> 00:48:49,858
that's probably going to make us enemy number one for some people.

894
00:48:50,398 --> 00:48:52,458
And either way, I'm a little bit apprehensive.

895
00:48:52,778 --> 00:48:53,958
If we're actually at the point,

896
00:48:54,038 --> 00:48:55,538
like if this was actually like end of 2025

897
00:48:55,538 --> 00:48:58,418
and Bitcoin's just like ripping to a million dollars

898
00:48:58,418 --> 00:48:59,878
and everyone's talking about it

899
00:48:59,878 --> 00:49:02,298
and how everyone's talking about how Bitcoin is so great

900
00:49:02,298 --> 00:49:04,398
and how the US dollar fucking sucks.

901
00:49:04,858 --> 00:49:07,178
You know, everything else that threatened the US dollar,

902
00:49:07,598 --> 00:49:09,998
every single other country that threatened the US dollar,

903
00:49:10,418 --> 00:49:12,098
didn't fare very well there, Walker.

904
00:49:12,418 --> 00:49:15,498
It kind of got a little bit hard for Gaddafi and a few others along the way.

905
00:49:16,018 --> 00:49:18,098
So yes, we're going to get there.

906
00:49:18,358 --> 00:49:19,418
Yes, it's going to happen.

907
00:49:19,598 --> 00:49:25,118
I don't necessarily want it to happen too fast because, one, I don't want to be public enemy number one.

908
00:49:25,458 --> 00:49:28,938
I would prefer not to, and I think it would be absolutely chaotic.

909
00:49:28,938 --> 00:49:30,558
So it's right.

910
00:49:30,618 --> 00:49:31,758
You've got two sides of the coin there, right?

911
00:49:32,218 --> 00:49:36,358
The fact that everyone is dunking on us just tells us, okay, we're probably approaching a bottom.

912
00:49:36,438 --> 00:49:40,018
If not now, maybe the next like three months or so, we're probably going to find a bottom here pretty quick.

913
00:49:40,018 --> 00:49:43,758
because I think I saw like sentiment at like 10 on the fear and greed index,

914
00:49:43,838 --> 00:49:45,038
which I think is just relatively bullshit.

915
00:49:45,038 --> 00:49:47,458
But just tell by the Twitter, the Twitter feels as well too.

916
00:49:47,538 --> 00:49:48,358
It's definitely there.

917
00:49:48,378 --> 00:49:49,358
And it makes sense, right?

918
00:49:49,698 --> 00:49:51,118
The other thing we didn't even touch on too,

919
00:49:51,198 --> 00:49:52,818
because I'm sure someone's got the data

920
00:49:52,818 --> 00:49:54,278
because it's all publicly traded companies and stuff.

921
00:49:54,698 --> 00:50:00,078
But like I have no idea how like the ETF holders and stuff are feeling right now

922
00:50:00,078 --> 00:50:03,258
in the sense that because they only came in, when did the ETF launch?

923
00:50:03,298 --> 00:50:05,158
Was that just like, was that the beginning of 2025, 2024?

924
00:50:05,598 --> 00:50:06,698
I'm losing time now.

925
00:50:07,078 --> 00:50:07,498
Have they been around?

926
00:50:07,618 --> 00:50:09,518
No, it was beginning of 2024.

927
00:50:10,018 --> 00:50:10,678
right

928
00:50:10,678 --> 00:50:11,778
I don't know

929
00:50:11,778 --> 00:50:12,558
it's been two years

930
00:50:12,558 --> 00:50:12,978
or one year

931
00:50:12,978 --> 00:50:26,976
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

932
00:50:26,976 --> 00:50:31,716
this year though i have that same feeling you know i know what you mean time warp there but for them

933
00:50:31,716 --> 00:50:34,996
their cost basis is is always going to be like they're going to not they're not going to be

934
00:50:34,996 --> 00:50:38,696
caring comparing it to the bitcoin price they're going to be comparing it to the etf price right

935
00:50:38,696 --> 00:50:42,876
yeah so their sentiment might be even worse i haven't checked like black rock outflows because

936
00:50:42,876 --> 00:50:44,756
Again, I'm not like a trader or anything.

937
00:50:45,496 --> 00:50:55,196
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.

938
00:50:55,496 --> 00:50:56,036
Do you know what I mean?

939
00:50:56,596 --> 00:50:58,376
It's like you could be stacking both, right?

940
00:50:58,376 --> 00:51:00,776
There could be a tax advantage reason or something too.

941
00:51:00,776 --> 00:51:11,136
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.

942
00:51:11,136 --> 00:51:13,296
is like, let's get that sorted out there for you.

943
00:51:13,356 --> 00:51:14,136
Let's help you out.

944
00:51:14,636 --> 00:51:15,956
And so I imagine they're going to be quicker,

945
00:51:16,036 --> 00:51:17,116
like in the ETFs as a whole

946
00:51:17,116 --> 00:51:19,496
are not going to be like as fast as retail on the exchanges.

947
00:51:19,616 --> 00:51:20,536
But again, I don't think they're necessarily

948
00:51:20,536 --> 00:51:21,356
going to have the conviction

949
00:51:21,356 --> 00:51:22,036
because I think for them,

950
00:51:22,076 --> 00:51:25,416
it's just another investment in their portfolio, right?

951
00:51:25,696 --> 00:51:27,496
I don't expect them to understand it.

952
00:51:27,876 --> 00:51:30,536
I also, I mean, you know,

953
00:51:30,556 --> 00:51:32,076
a debate with my wonderful co-host, Gary,

954
00:51:32,136 --> 00:51:33,036
who definitely didn't sell

955
00:51:33,036 --> 00:51:35,196
or definitely buy the 16 mark there

956
00:51:35,196 --> 00:51:36,016
because he thought it was going to 12.

957
00:51:36,276 --> 00:51:37,016
But I deal with him often

958
00:51:37,016 --> 00:51:38,456
because he will reaffirm, he's right,

959
00:51:38,536 --> 00:51:40,856
like Bitcoin is for anyone or for anyone,

960
00:51:40,856 --> 00:51:43,536
depending on everyone or anyone, depending on how I'm going to phrase that up too.

961
00:51:44,696 --> 00:51:46,496
It's my own cognitive bias.

962
00:51:46,636 --> 00:51:52,156
I'm well aware of that, but I don't think you can separate the underlying ideology of anarchism from Bitcoin,

963
00:51:52,336 --> 00:51:53,936
of the separation of money and state.

964
00:51:54,636 --> 00:52:00,916
And if I look at those kind of beliefs, like Austrian economics, libertarian philosophy at large,

965
00:52:01,016 --> 00:52:05,676
it's kind of a requirement that you at least somewhat at least can grapple with those ideas.

966
00:52:05,756 --> 00:52:09,536
You might disagree as well as then understand Bitcoin to be a Bitcoin.

967
00:52:09,536 --> 00:52:14,156
It's kind of the merger of those two things combined with some toxic online culture.

968
00:52:15,336 --> 00:52:19,336
How many people do you know in the real world that even look at Austrian economics and know what the fuck that is?

969
00:52:20,016 --> 00:52:20,116
Right?

970
00:52:20,896 --> 00:52:21,196
Right?

971
00:52:21,516 --> 00:52:26,236
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.

972
00:52:26,716 --> 00:52:28,836
We're going to completely neuter the state.

973
00:52:29,196 --> 00:52:30,376
There's going to be no government.

974
00:52:30,536 --> 00:52:31,236
You're going to love it.

975
00:52:31,316 --> 00:52:32,976
They'll look at you like you're fucking crazy.

976
00:52:33,696 --> 00:52:34,916
But who will build the roads?

977
00:52:35,236 --> 00:52:36,136
Oh, my God.

978
00:52:36,136 --> 00:52:39,196
That question drives me to the goddamn wall.

979
00:52:39,536 --> 00:52:43,776
It's like, yes, thank you for texting me on your free market iPhone who will build the roads.

980
00:52:43,876 --> 00:52:44,396
I don't know.

981
00:52:44,476 --> 00:52:45,516
It's pavement on dirt.

982
00:52:45,736 --> 00:52:46,836
I think we'll figure it out.

983
00:52:46,936 --> 00:52:49,096
There possibly could be a better system as well too.

984
00:52:50,736 --> 00:52:52,276
It's so infuriating.

985
00:52:52,276 --> 00:52:57,696
But to think of how few people can grapple because it's the – man, I read something the other day.

986
00:52:57,736 --> 00:52:59,276
I'll see if I can pull it up in my brain in a second here.

987
00:52:59,396 --> 00:53:02,856
But most people can't grapple with the unseen.

988
00:53:03,316 --> 00:53:06,296
That's a really difficult thing for them to get around.

989
00:53:06,396 --> 00:53:07,856
It goes back to who will build the roads.

990
00:53:07,856 --> 00:53:13,136
you know you want to defund public education you want kids to get educated no you fucking moron

991
00:53:13,136 --> 00:53:16,476
just because the government did it for the last hundred years does not mean that's the ideal way

992
00:53:16,476 --> 00:53:20,416
to do it it's not and it's also we can figure things out there could be better solutions and

993
00:53:20,416 --> 00:53:25,076
there could be things that you didn't even imagine that come along like dude in our lifetime we got

994
00:53:25,076 --> 00:53:30,096
the fucking touch screens right i still remember like i think i still remember like parents leave

995
00:53:30,096 --> 00:53:33,456
the house dial up internet it's like okay i got three hours before they're back to try and get

996
00:53:33,456 --> 00:53:40,456
two photos right like i remember these days and how fast things have changed and so if most people

997
00:53:40,456 --> 00:53:45,556
can't grapple with the idea of a stateless world how could they possibly have conviction in a

998
00:53:45,556 --> 00:53:56,236
stateless money fucking hey man yeah yeah right yeah no it it's true also like i remember i don't

999
00:53:56,236 --> 00:54:02,036
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

1000
00:54:02,036 --> 00:54:02,656
I had to drive.

1001
00:54:02,796 --> 00:54:03,096
I got a phone.

1002
00:54:03,196 --> 00:54:03,296
Yeah, me too.

1003
00:54:03,936 --> 00:54:04,976
Motorola Razr.

1004
00:54:05,496 --> 00:54:06,456
Oh, those are sweet.

1005
00:54:06,756 --> 00:54:07,436
It was a sick phone.

1006
00:54:07,476 --> 00:54:09,216
I was like, yeah, this is fucking sick.

1007
00:54:09,616 --> 00:54:13,616
This is the height of a technology right here.

1008
00:54:14,016 --> 00:54:14,696
But it's true.

1009
00:54:14,796 --> 00:54:17,216
Things change so incredibly fast.

1010
00:54:17,936 --> 00:54:19,796
The rate of change is accelerating.

1011
00:54:21,796 --> 00:54:30,156
But boy, it takes a long time for most people, myself included.

1012
00:54:30,156 --> 00:54:32,396
I'm not immune to this

1013
00:54:32,396 --> 00:54:34,516
to radically shift your

1014
00:54:34,516 --> 00:54:35,076
world view.

1015
00:54:36,176 --> 00:54:37,296
I've said this before

1016
00:54:37,296 --> 00:54:40,316
I have to this day still ignored

1017
00:54:40,316 --> 00:54:42,496
Bitcoin. I was aware of Bitcoin in 2014

1018
00:54:42,496 --> 00:54:44,236
and ignored it

1019
00:54:44,236 --> 00:54:45,476
until 2020.

1020
00:54:46,476 --> 00:54:48,356
That's six years, over six years

1021
00:54:48,356 --> 00:54:50,556
that I ignored it after first hearing about it

1022
00:54:50,556 --> 00:54:52,236
and heard it

1023
00:54:52,236 --> 00:54:54,176
multiple times in between there too.

1024
00:54:54,656 --> 00:54:55,456
Kept ignoring it.

1025
00:54:55,956 --> 00:54:57,976
I only started stacking Bitcoin in 2020.

1026
00:54:57,976 --> 00:55:00,056
So I have still to this day ignored

1027
00:55:00,056 --> 00:55:07,316
Bitcoin longer than I have been stacking Bitcoin after being aware of it. So I get it. Like I get

1028
00:55:07,316 --> 00:55:11,576
that it takes a long time to change your worldview because it took me a long time to change your

1029
00:55:11,576 --> 00:55:18,316
worldview. And when you're talking about something that is so fundamental, that is so like radically

1030
00:55:18,316 --> 00:55:25,736
just paradigm shifting and worldview altering and sends you down all of these tangential rabbit holes,

1031
00:55:25,836 --> 00:55:29,056
it sends you down the Austrian economics rabbit hole, it sends you down just like the energy

1032
00:55:29,056 --> 00:55:34,176
rabbit hole. It sends you down the health rabbit hole because you realize how much the perversion

1033
00:55:34,176 --> 00:55:40,776
of money has perverted everything else, right? It really wakes you up to that. And so you start

1034
00:55:40,776 --> 00:55:46,996
asking, well, if the money's a lie, what else is a lie? And it turns out a lot of it is,

1035
00:55:46,996 --> 00:55:53,496
like most of it, probably. You start looking at the education system and the economic incentives

1036
00:55:53,496 --> 00:55:59,716
there. And man, once you, once your eyes are open, that's, that's the beautiful thing. Once

1037
00:55:59,716 --> 00:56:04,536
your eyes are open, you can't go back. Like once you, once you're unplugged from the matrix,

1038
00:56:05,036 --> 00:56:10,036
you don't go back in, you know, not, not as, not as just a drone in there anymore. Right?

1039
00:56:10,476 --> 00:56:15,616
Like, like you go back in and try to dismantle the matrix. Right. But once you are unplugged from it,

1040
00:56:16,636 --> 00:56:21,576
you, you, you can't just turn that off. Now you're awake. Your eyes are open. You, you,

1041
00:56:21,576 --> 00:56:22,556
You woke up, Neo.

1042
00:56:24,836 --> 00:56:26,556
It takes a while to get there, though.

1043
00:56:27,676 --> 00:56:37,996
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.

1044
00:56:37,996 --> 00:56:47,696
We have undergone a massive, massive giga-exponential increase in the amount of information that our brains are bombarded with.

1045
00:56:47,696 --> 00:56:52,876
and our brains haven't materially changed from a physiological level, right?

1046
00:56:52,876 --> 00:56:54,296
To be able to process this.

1047
00:56:54,416 --> 00:56:57,016
Like it's just, we just haven't.

1048
00:56:57,196 --> 00:56:58,876
And so I get it.

1049
00:56:58,876 --> 00:57:03,776
Like, and we, as Bitcoiners, and I'm, I'm guilty of not always having empathy and being like,

1050
00:57:04,296 --> 00:57:08,876
okay, you have retard boomer, you know, like, yes, I will say that often.

1051
00:57:09,956 --> 00:57:12,236
But, but I say it with love.

1052
00:57:12,436 --> 00:57:17,516
Like if I, if I call you a retard boomer, it's because it's because I love you.

1053
00:57:17,516 --> 00:57:20,056
and wants you to realize that you're being a retarded boomer.

1054
00:57:20,676 --> 00:57:22,116
But no, real talk.

1055
00:57:23,356 --> 00:57:24,136
I get it.

1056
00:57:24,196 --> 00:57:25,736
I get why it takes people a long time.

1057
00:57:26,536 --> 00:57:29,096
It's taken many of my friends a long time.

1058
00:57:29,236 --> 00:57:30,856
And then they started stacking.

1059
00:57:31,256 --> 00:57:33,676
For instance, after Trump started supporting Bitcoin,

1060
00:57:34,136 --> 00:57:36,156
they were like, oh, yeah, I just bought some Bitcoin because Trump did it.

1061
00:57:36,196 --> 00:57:38,136
And I was like, fine.

1062
00:57:38,236 --> 00:57:39,476
A little frustrating, but awesome.

1063
00:57:39,776 --> 00:57:42,156
I'm glad because I love you as a friend.

1064
00:57:42,316 --> 00:57:45,536
All I wanted was for you to also have this exposure,

1065
00:57:45,536 --> 00:57:50,556
this thing that you don't even realize how powerful it is yet but like you know i love you bro and i

1066
00:57:50,556 --> 00:57:58,476
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

1067
00:57:58,476 --> 00:58:03,596
tiny like fraction of a percent of the global population like a fraction of one percent

1068
00:58:03,596 --> 00:58:09,916
that know what's going on that are really aware of bitcoin or hold bitcoin in meaningful way that

1069
00:58:09,916 --> 00:58:13,856
actually have a utxo and don't like even the people that have a utxo the majority of them

1070
00:58:13,856 --> 00:58:15,476
don't even know what a UTXO is anyway.

1071
00:58:15,716 --> 00:58:16,656
Like even, you know what I mean?

1072
00:58:16,716 --> 00:58:19,596
So it's like, we're just so early.

1073
00:58:19,676 --> 00:58:20,896
And this gets back to the point,

1074
00:58:21,556 --> 00:58:22,936
because we are so early,

1075
00:58:23,696 --> 00:58:25,656
there is just no way that in five years,

1076
00:58:25,736 --> 00:58:27,976
10 years, 15 years, 20 years, 50 years,

1077
00:58:28,096 --> 00:58:29,216
you look back and say,

1078
00:58:29,276 --> 00:58:30,916
sure glad I didn't buy

1079
00:58:30,916 --> 00:58:34,616
during that November 17th, 2025 crash.

1080
00:58:34,776 --> 00:58:36,596
Like, phew, dodged a bullet there.

1081
00:58:37,056 --> 00:58:38,436
It's like, no, the bullet you dodged

1082
00:58:38,436 --> 00:58:39,916
was generational wealth

1083
00:58:39,916 --> 00:58:41,216
and retiring your bloodline.

1084
00:58:41,516 --> 00:58:42,656
Like you fucking palooka.

1085
00:58:42,656 --> 00:58:48,976
like wise up it's absolutely is not as bad of a word as it sounds by the way it sounds pretty good

1086
00:58:48,976 --> 00:58:53,696
it's it's it's it sounds it sounds more offensive than it is i just want to clarify it's not anyone

1087
00:58:53,696 --> 00:58:57,676
can fact check me on this it's a totally appropriate word to use in this context

1088
00:58:57,676 --> 00:59:01,816
i'm gonna have to go ahead and look at that after the stream but you know it's funny because i think

1089
00:59:01,816 --> 00:59:07,296
i think unfortunately how do i phrase this in some respects adoption will be slower particularly in

1090
00:59:07,296 --> 00:59:11,316
the west than we we want it to be and even that idea of becoming from the being unplugged from

1091
00:59:11,316 --> 00:59:14,596
matrix you know even at the beginning of the movie they talk about how you know some minds are too

1092
00:59:14,596 --> 00:59:18,256
far gone they're too old they can't be unplugged and i do think that really is the case for some

1093
00:59:18,256 --> 00:59:23,576
people particularly like the older generations and unfortunately like i can i can tell you just

1094
00:59:23,576 --> 00:59:27,916
from like looking on the back end of things that i will that that gen z is not coming in yet and i

1095
00:59:27,916 --> 00:59:32,716
don't think they will i think they're kind of in a very it's a very kind of um yolo lifestyle like

1096
00:59:32,716 --> 00:59:36,416
financial nihilism and i don't blame them because fuck they have like millennials we thought we had

1097
00:59:36,416 --> 00:59:41,076
the deck stacked against us they're fucked right until we fix it and help them and let them take

1098
00:59:41,076 --> 00:59:46,636
the reins afterwards but it's this idea that until i think it's going to kind of be it's going

1099
00:59:46,636 --> 00:59:49,856
to require some funerals in order for like the big corner population to really increase wealth

1100
00:59:49,856 --> 00:59:54,016
to be passed down to the younger generations for them to be able to actually have wealth to then

1101
00:59:54,016 --> 01:00:00,256
figure out what the hell to do with it to try and get ahead and on top of that it's the at some

1102
01:00:00,256 --> 01:00:04,356
point in time it kind of varies depending on the circumstances some people's minds just can't ever

1103
01:00:04,356 --> 01:00:09,676
like they're it would it would destroy their ego to actually change their mind and revert and i'll

1104
01:00:09,676 --> 01:00:13,716
I'll take a dark but a very extreme example just to illustrate the point.

1105
01:00:14,736 --> 01:00:18,856
If you were – let's say hypothetically, Walker, that your specialty was abortions.

1106
01:00:18,916 --> 01:00:19,676
You were an abortion doctor.

1107
01:00:19,716 --> 01:00:21,676
You're the best one in the world and you've been doing this your whole life.

1108
01:00:21,696 --> 01:00:22,016
I'm not.

1109
01:00:22,016 --> 01:00:23,096
I'm not to clarify.

1110
01:00:23,896 --> 01:00:25,976
Just to clarify, that's not my fiat job.

1111
01:00:26,556 --> 01:00:27,376
Just to clarify.

1112
01:00:27,956 --> 01:00:30,196
But let's say that you had been doing that, right?

1113
01:00:30,196 --> 01:00:34,836
And you thought you were doing good and you were following your peers and like the medical boards and everything going on.

1114
01:00:34,836 --> 01:00:41,376
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.

1115
01:00:41,636 --> 01:00:43,836
Well, that would destroy most people.

1116
01:00:44,136 --> 01:00:49,556
Your brain would not let you actually switch opinions because it'd be so devastating based on what you did.

1117
01:00:49,996 --> 01:00:58,796
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.

1118
01:00:58,936 --> 01:01:03,996
It's really hard to look back and say not only that I was wrong, but I may have done wrong.

1119
01:01:03,996 --> 01:01:08,696
And it's not the same extreme, but I only just use that kind of like argument from Ad Sertum, right?

1120
01:01:09,296 --> 01:01:11,756
That like they really did steal from the other generations.

1121
01:01:11,916 --> 01:01:13,156
They really did saddle us with debt.

1122
01:01:13,216 --> 01:01:15,716
We really did get lied into wars and we got tricked again.

1123
01:01:16,036 --> 01:01:29,556
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?

1124
01:01:29,556 --> 01:01:31,336
I mean you can take the example.

1125
01:01:31,336 --> 01:01:36,696
Like if I sit down and I explain to you libertarian philosophy, like I'm a Bitcoiner, right?

1126
01:01:36,716 --> 01:01:43,096
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.

1127
01:01:43,236 --> 01:01:44,916
Like it should be illegal. It's used for drugs and these things.

1128
01:01:44,976 --> 01:01:48,716
It was like, well, I use Bitcoin, and I love it, and I want to participate in the system.

1129
01:01:49,216 --> 01:01:51,996
Are you arguing that men with guns should come and lock me in a cage?

1130
01:01:52,036 --> 01:01:57,176
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?

1131
01:01:57,636 --> 01:02:00,336
Then they're faced with that knowledge. They have to try and deal with it.

1132
01:02:00,336 --> 01:02:18,316
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.

1133
01:02:18,316 --> 01:02:20,816
they may not be able to ever flip.

1134
01:02:21,116 --> 01:02:23,236
It's just too hard to look at, right?

1135
01:02:23,296 --> 01:02:25,856
It's like if you made a really big mistake that you feel guilt about,

1136
01:02:26,376 --> 01:02:29,056
like if you actually felt guilt about where the current generations are,

1137
01:02:29,636 --> 01:02:31,196
your brain might not let you.

1138
01:02:31,296 --> 01:02:32,616
Not everyone's necessarily that strong.

1139
01:02:32,696 --> 01:02:33,716
Not everyone can be saved.

1140
01:02:35,396 --> 01:02:38,916
That is a fucking phenomenal point about the boomers.

1141
01:02:39,036 --> 01:02:40,296
Because I think, and to clarify,

1142
01:02:40,556 --> 01:02:44,336
you and I both know a lot of really outstanding Bitcoin boomers.

1143
01:02:46,416 --> 01:02:48,236
There's actually Bitcoin Boomers, a new podcast.

1144
01:02:48,316 --> 01:02:57,056
Specifically Bitcoin boomers with some great human beings, some of my favorite boomers that I've ever gotten a chance to meet on it.

1145
01:02:57,056 --> 01:03:01,736
And, you know, like they're the first to call out.

1146
01:03:02,216 --> 01:03:15,036
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.

1147
01:03:15,036 --> 01:03:18,456
We see that, wow, we had the easy money times.

1148
01:03:18,536 --> 01:03:21,376
It's not to say everything was easy.

1149
01:03:21,456 --> 01:03:22,676
It's not to say they didn't have their own struggles.

1150
01:03:22,756 --> 01:03:23,596
Of course they did.

1151
01:03:24,196 --> 01:03:34,336
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.

1152
01:03:34,576 --> 01:03:36,676
Larry Lepard wrote a great book in The Big Print.

1153
01:03:36,756 --> 01:03:39,056
But he talks about his own personal story and the story of his family.

1154
01:03:39,456 --> 01:03:41,176
It's not like it's all sunshine and daisies.

1155
01:03:41,176 --> 01:03:46,256
like but they're also they have their stories but they're the first to admit like boy we really had

1156
01:03:46,256 --> 01:03:50,816
an advantage when it comes and you know then there's the other side of boomers who are the

1157
01:03:50,816 --> 01:03:54,736
ones that will not admit that they will say everything they got their house appreciating

1158
01:03:54,736 --> 01:03:59,736
from being worth a bushel of raspberries to three million dollars you know for their little you know

1159
01:03:59,736 --> 01:04:05,216
two-bedroom ranch house in in san jose they're like no that's just just because i was a good

1160
01:04:05,216 --> 01:04:08,856
real estate investor like that's just what that is you know like that's just that's that's all that

1161
01:04:08,856 --> 01:04:12,216
and they'll just refuse to acknowledge it

1162
01:04:12,216 --> 01:04:14,596
because it's so destructive to their worldview.

1163
01:04:15,236 --> 01:04:17,756
Their pull yourself up by your bootstraps worldview.

1164
01:04:18,056 --> 01:04:19,636
Like it turns out like it was just easier

1165
01:04:19,636 --> 01:04:21,496
to pull yourself up by your bootstraps then.

1166
01:04:21,976 --> 01:04:24,856
The money was starting to be shit,

1167
01:04:25,396 --> 01:04:27,316
but it was not nearly as shit as it is today.

1168
01:04:27,716 --> 01:04:28,836
And as the money breaks,

1169
01:04:28,916 --> 01:04:30,796
so too breaks everything else with it.

1170
01:04:30,796 --> 01:04:33,016
Well, you also take that narrative away from them, right?

1171
01:04:33,096 --> 01:04:34,216
Sorry to interrupt, but it's like,

1172
01:04:34,636 --> 01:04:37,696
you said pull yourself up by the bootstraps,

1173
01:04:37,696 --> 01:04:39,796
But that's not actually what happened here.

1174
01:04:40,016 --> 01:04:43,316
And so you start to you start to fuck with their identity a little bit, too.

1175
01:04:44,896 --> 01:04:45,296
Exactly.

1176
01:04:45,516 --> 01:04:45,936
No, no, no.

1177
01:04:46,936 --> 01:04:48,096
Interruptions are always welcome here.

1178
01:04:49,576 --> 01:04:50,776
That is exactly correct.

1179
01:04:51,316 --> 01:04:54,396
You are breaking the story that they tell themselves.

1180
01:04:54,616 --> 01:04:56,036
Yeah, you're breaking that.

1181
01:04:56,216 --> 01:05:01,376
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.

1182
01:05:01,456 --> 01:05:03,016
It's like I've never fucking bought avocado toast.

1183
01:05:04,676 --> 01:05:05,636
It's not good.

1184
01:05:05,756 --> 01:05:06,516
I don't get it.

1185
01:05:06,936 --> 01:05:07,116
What?

1186
01:05:07,116 --> 01:05:07,376
What?

1187
01:05:07,376 --> 01:05:10,416
I don't live in the fucking Bay Area right now.

1188
01:05:10,496 --> 01:05:10,996
I'm not buying it.

1189
01:05:11,016 --> 01:05:13,916
I don't know if they – it feels like they probably eat more avocado toast out there.

1190
01:05:14,016 --> 01:05:14,456
I don't know.

1191
01:05:14,676 --> 01:05:15,136
I don't know.

1192
01:05:15,476 --> 01:05:15,716
Maybe.

1193
01:05:16,076 --> 01:05:19,416
But the point is that's just like a meaningless trope, right?

1194
01:05:19,896 --> 01:05:25,936
It's like it's just – and if you break people's worldview, they tend not to like that.

1195
01:05:26,516 --> 01:05:31,996
And I think this is why I'm always very impressed by gold bugs.

1196
01:05:31,996 --> 01:05:33,596
Again, like Larry Lepart is a great example.

1197
01:05:33,716 --> 01:05:36,576
He was a staunch gold bug but who came around to Bitcoin.

1198
01:05:36,576 --> 01:05:39,056
And there are a lot of gold bugs who have come around to Bitcoin.

1199
01:05:39,656 --> 01:05:45,836
But in order to do that, it required like because the thing about being a gold bug is you are directionally correct.

1200
01:05:46,356 --> 01:05:47,416
You're directionally correct.

1201
01:05:47,556 --> 01:05:49,656
And like gold's not bad, right?

1202
01:05:49,816 --> 01:05:50,796
Gold is really good.

1203
01:05:50,856 --> 01:05:54,016
Gold's been amazing sound money for thousands of years.

1204
01:05:54,616 --> 01:05:59,496
It's just not the best money in the information age when Bitcoin exists.

1205
01:05:59,496 --> 01:06:06,336
and the failures of gold are why we have fiat today amongst other conflating

1206
01:06:06,336 --> 01:06:06,716
factors.

1207
01:06:06,836 --> 01:06:06,936
Yes.

1208
01:06:07,016 --> 01:06:08,736
But like really distilling it down.

1209
01:06:08,876 --> 01:06:13,256
So the gold bugs who can say, okay, yeah, I'm a sound, like I'm not,

1210
01:06:13,436 --> 01:06:14,276
I guess I'm not a gold bug.

1211
01:06:14,336 --> 01:06:15,976
I'm just, I'm like a sound money bug.

1212
01:06:16,176 --> 01:06:16,416
Yeah.

1213
01:06:16,536 --> 01:06:18,016
And this is just better sound money.

1214
01:06:18,116 --> 01:06:20,256
I have so much respect for folks like that.

1215
01:06:20,256 --> 01:06:23,896
Folks like Larry and who's done a great job of advocating who still goes to

1216
01:06:23,896 --> 01:06:26,076
gold conferences, which they, they have apparently.

1217
01:06:26,336 --> 01:06:27,096
They're a thing.

1218
01:06:27,756 --> 01:06:27,976
Yeah.

1219
01:06:28,016 --> 01:06:28,516
They're a thing.

1220
01:06:28,516 --> 01:06:30,096
and talks to people about it.

1221
01:06:30,096 --> 01:06:32,656
It's like the least slope ramp going in you've ever seen.

1222
01:06:37,416 --> 01:06:38,776
Sorry, I just had to slip the one in there.

1223
01:06:38,836 --> 01:06:39,516
But then you're absolutely right.

1224
01:06:39,696 --> 01:06:40,916
There's something that popped into my mind

1225
01:06:40,916 --> 01:06:42,596
that I threw out there too that just goes back to this.

1226
01:06:43,236 --> 01:06:45,276
It is extremely commendable for those

1227
01:06:45,276 --> 01:06:46,756
that are willing to actually change their mind

1228
01:06:46,756 --> 01:06:48,276
because that's not an easy thing to do,

1229
01:06:48,376 --> 01:06:49,436
to shift their worldview,

1230
01:06:49,596 --> 01:06:50,576
particularly when it's wrapped up

1231
01:06:50,576 --> 01:06:52,396
in how they view themselves as part of their identity.

1232
01:06:52,916 --> 01:06:54,336
And the example that came to mind is like,

1233
01:06:54,396 --> 01:06:55,056
I don't know about you,

1234
01:06:55,096 --> 01:06:57,676
but I haven't gotten a single apology about COVID, right?

1235
01:06:58,516 --> 01:07:01,936
Not one has come my way despite everything that happened.

1236
01:07:02,656 --> 01:07:07,296
People aren't – even though like you could lay – they probably just wouldn't want to look at it.

1237
01:07:07,436 --> 01:07:13,956
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.

1238
01:07:14,576 --> 01:07:17,516
And it would just – they just wouldn't want to look at it.

1239
01:07:17,656 --> 01:07:19,536
It would just be too difficult, too painful for them.

1240
01:07:19,796 --> 01:07:21,156
And so I don't expect them to.

1241
01:07:21,236 --> 01:07:23,956
And I commend the ones that do because that's not easy.

1242
01:07:24,976 --> 01:07:25,336
No.

1243
01:07:25,676 --> 01:07:26,176
No, it's not.

1244
01:07:26,256 --> 01:07:27,056
And that's the thing.

1245
01:07:27,416 --> 01:07:27,696
Oh, God.

1246
01:07:27,696 --> 01:07:29,676
COVID is just such a frustrating one.

1247
01:07:30,136 --> 01:07:30,156
Right.

1248
01:07:30,316 --> 01:07:37,696
All the people, even just who, all the things you could get deplatformed for, all the things you could get censored for,

1249
01:07:38,676 --> 01:07:43,456
which it turns out was just telling the truth.

1250
01:07:43,936 --> 01:07:47,516
That was just you telling the truth about something, which later then came out as the truth.

1251
01:07:47,636 --> 01:07:49,396
And even the science backed it up.

1252
01:07:50,036 --> 01:07:52,456
Well, science always backed it up.

1253
01:07:52,696 --> 01:07:54,096
The science didn't back it up.

1254
01:07:54,096 --> 01:08:00,676
like that that's just like maddeningly ridiculous because there's like and there won't be a reckoning

1255
01:08:00,676 --> 01:08:03,756
for that like if there hasn't been a reckoning because i think a lot of people thought like oh

1256
01:08:03,756 --> 01:08:08,596
well trump will trump will do that right and it's like no he won't he started the lockdowns

1257
01:08:08,596 --> 01:08:13,116
what are you talking no he won't he bragged about operation warp speed what are you talking about

1258
01:08:13,116 --> 01:08:18,276
what sort of bullshit revisionist history is this i'm not an anti-trump person right guys

1259
01:08:18,276 --> 01:08:22,036
just to clarify for anyone out there he's like this guy must be a fucking liberal it's like

1260
01:08:22,036 --> 01:08:28,756
no I'm not no I'm not I just believe in calling out uh people uh no matter what side they're on

1261
01:08:28,756 --> 01:08:34,056
when they do stupid shit and operation warp speed was stupid and lockdowns were stupid two weeks to

1262
01:08:34,056 --> 01:08:38,956
slow the spread was stupid Trump printing ungodly amounts of money was stupid Trump sending out

1263
01:08:38,956 --> 01:08:44,736
checks to everyone was stupid Trump sending out uh you know the pvp was was stupid you like also

1264
01:08:44,736 --> 01:08:48,116
none of that should have been necessary because we just never should have locked down and this

1265
01:08:48,116 --> 01:08:52,016
actually brings me to another thing which I just I just saw before this and I wanted to actually

1266
01:08:52,016 --> 01:08:57,196
bring up, which is, um, I just, uh, let me find this again. Okay. Wait, I'm going to share,

1267
01:08:57,256 --> 01:09:01,656
I'm going to share my screen because I just saw this. I was just, I was just on X and, uh,

1268
01:09:02,356 --> 01:09:05,356
looking at headlines just before, before hopping in here. And I was like, let's just see what's

1269
01:09:05,356 --> 01:09:11,156
happening here. Let's just see what the haps is. And this just, I mean, it's a grok summary to be

1270
01:09:11,156 --> 01:09:19,436
fair, but let me, uh, hold on. Where are you at? Uh, I will find you. Oh God. So many tabs,

1271
01:09:19,436 --> 01:09:21,556
so many tabs. I'm going to find this.

1272
01:09:22,036 --> 01:09:23,616
It's just an

1273
01:09:23,616 --> 01:09:25,956
absurd fucking headline

1274
01:09:25,956 --> 01:09:27,696
guys and you need

1275
01:09:27,696 --> 01:09:29,596
to see it. I will find it.

1276
01:09:29,796 --> 01:09:31,716
While you're pulling it up too, I got to just make one

1277
01:09:31,716 --> 01:09:33,656
point I think is really important while you go there and search through

1278
01:09:33,656 --> 01:09:35,696
is that it is a double-edged sword.

1279
01:09:35,776 --> 01:09:36,936
It does cut our way as well too.

1280
01:09:37,276 --> 01:09:39,576
Just like everybody, no one

1281
01:09:39,576 --> 01:09:41,336
admitted that they were wrong about COVID,

1282
01:09:41,756 --> 01:09:43,536
no one will admit that they were wrong about

1283
01:09:43,536 --> 01:09:45,516
Bitcoin either. That's how the shift

1284
01:09:45,516 --> 01:09:47,296
can happen really fast all of a sudden.

1285
01:09:47,296 --> 01:10:00,656
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.

1286
01:10:01,296 --> 01:10:03,976
And as an OG listening to this stream, don't fight with them.

1287
01:10:04,116 --> 01:10:05,196
Just be happy that we won.

1288
01:10:05,336 --> 01:10:06,336
It's not worth the energy.

1289
01:10:06,476 --> 01:10:07,496
It's not worth the battle.

1290
01:10:08,016 --> 01:10:15,016
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.

1291
01:10:15,016 --> 01:10:16,676
They just want to get along with everybody else.

1292
01:10:16,876 --> 01:10:19,636
If you're here, you're probably unusually disagreeable.

1293
01:10:19,756 --> 01:10:21,296
I know that I am extremely disagreeable.

1294
01:10:21,376 --> 01:10:25,116
It's kind of like a trade of early Bitcoiners, just a personality quark, which, again, makes sense.

1295
01:10:25,156 --> 01:10:36,916
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.

1296
01:10:37,136 --> 01:10:38,716
You're all retarded and you're all wrong.

1297
01:10:38,956 --> 01:10:40,896
You're going to have to be a little disagreeable.

1298
01:10:41,056 --> 01:10:42,496
It's just kind of the nature of the beast.

1299
01:10:42,576 --> 01:10:43,676
Did you find it there, good sir?

1300
01:10:44,516 --> 01:10:45,876
I'm still struggling.

1301
01:10:45,976 --> 01:10:47,596
Also, my computer is about to take off.

1302
01:10:47,676 --> 01:10:51,576
Could it be that I am live streaming while also having 50,000 tabs open?

1303
01:10:52,316 --> 01:10:52,676
Perhaps.

1304
01:10:52,836 --> 01:10:54,356
Perhaps that could have something to do with it.

1305
01:10:54,396 --> 01:10:54,636
Hold on.

1306
01:10:54,676 --> 01:10:56,156
I'm going to find this thing, though.

1307
01:10:56,176 --> 01:10:56,976
I've got a bunch open.

1308
01:10:56,976 --> 01:10:57,596
Hold on.

1309
01:10:57,656 --> 01:10:58,756
We've almost got it.

1310
01:10:59,276 --> 01:10:59,956
While you're pulling it up there.

1311
01:10:59,956 --> 01:11:01,296
Actually, I know where the thing is.

1312
01:11:01,296 --> 01:11:05,616
I just can't seem to be able to find it in my tab sharing.

1313
01:11:06,616 --> 01:11:07,016
Okay.

1314
01:11:07,136 --> 01:11:08,056
Now I think I've got it.

1315
01:11:08,176 --> 01:11:08,516
Okay.

1316
01:11:08,796 --> 01:11:09,796
Let's bring it in here.

1317
01:11:09,896 --> 01:11:10,236
Here we go.

1318
01:11:11,136 --> 01:11:11,416
Okay.

1319
01:11:11,976 --> 01:11:12,656
You can see this?

1320
01:11:13,136 --> 01:11:13,356
Yep.

1321
01:11:13,676 --> 01:11:20,716
Okay, so Trump pledges $2,000 tariff checks and 50-year mortgages at McDonald's Summit.

1322
01:11:22,196 --> 01:11:26,056
And I'm just like, that's got to be a fake headline, right?

1323
01:11:26,336 --> 01:11:27,796
Do you know what it immediately reminds me of?

1324
01:11:28,336 --> 01:11:29,196
Come on.

1325
01:11:29,316 --> 01:11:30,916
Costco University from Idiocracy.

1326
01:11:31,196 --> 01:11:32,076
I'm pretty sure that was Idiocracy.

1327
01:11:32,336 --> 01:11:33,076
Oh, my God.

1328
01:11:33,476 --> 01:11:33,956
Idiocracy.

1329
01:11:34,136 --> 01:11:35,936
Turns out it was just a documentary.

1330
01:11:36,696 --> 01:11:37,336
But you know what's funny?

1331
01:11:37,476 --> 01:11:40,076
The message of that story is not what you think it is.

1332
01:11:40,356 --> 01:11:43,156
It's that the person to blame is the one who did nothing.

1333
01:11:43,676 --> 01:11:46,776
That the average guy, that people let it get to that way, right?

1334
01:11:46,816 --> 01:11:56,636
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.

1335
01:11:57,376 --> 01:12:00,036
I actually agree with that interpretation of the message.

1336
01:12:00,036 --> 01:12:16,416
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.

1337
01:12:16,596 --> 01:12:18,576
I mean with macro conditions, what they are.

1338
01:12:19,016 --> 01:12:26,796
And it's like meanwhile, you know, like Joe blows out there pumping out his 28th kid like we know with 20 different moms.

1339
01:12:26,796 --> 01:12:28,956
And it's like, yep.

1340
01:12:29,356 --> 01:12:29,616
Yep.

1341
01:12:29,836 --> 01:12:30,536
Like, yep.

1342
01:12:30,756 --> 01:12:32,256
That is accurate.

1343
01:12:32,656 --> 01:12:33,476
Like, that is accurate.

1344
01:12:33,516 --> 01:12:40,776
But I'm very bullish on Bitcoiners having a lot of babies, which I see very much as a trend right now.

1345
01:12:41,076 --> 01:12:41,816
So that's good.

1346
01:12:42,256 --> 01:12:48,416
Trump pledges $2,000 tariff checks and 50-year mortgages at McDonald's Summit.

1347
01:12:48,676 --> 01:12:49,156
I'm just waiting.

1348
01:12:49,236 --> 01:12:50,316
I'm trying to, like, scan through.

1349
01:12:50,376 --> 01:12:51,196
I see Fry Cook there.

1350
01:12:51,196 --> 01:12:56,396
I was just scanning through to be like speaking on the Big Mac stage after the Coca-Cola.

1351
01:12:57,056 --> 01:13:01,616
Like, my lord, we have multinational fat.

1352
01:13:01,776 --> 01:13:04,976
That is the most – I'm sorry because my country sucks.

1353
01:13:05,116 --> 01:13:06,956
But that is like the – what did you say?

1354
01:13:07,796 --> 01:13:11,316
It's the worst of American culture.

1355
01:13:11,516 --> 01:13:17,056
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.

1356
01:13:17,056 --> 01:13:21,336
Like, I'm not I'm surprised he's not got some fucking fries on the side of the stand.

1357
01:13:21,996 --> 01:13:34,636
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.

1358
01:13:34,636 --> 01:13:37,596
And like, you know, Bitcoiners go and work at McDonald's when Bitcoin's crashing.

1359
01:13:37,696 --> 01:13:40,056
It's like this must be some like some some wires got crossed.

1360
01:13:40,116 --> 01:13:40,716
But it's like, oh, no.

1361
01:13:41,236 --> 01:13:41,476
Oh, no.

1362
01:13:41,536 --> 01:13:42,176
This is this.

1363
01:13:42,336 --> 01:13:43,316
This is real.

1364
01:13:43,896 --> 01:13:44,476
This is real.

1365
01:13:44,476 --> 01:13:51,256
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.

1366
01:13:51,456 --> 01:13:54,776
But you should be able to call out, like, first of all, I think the guy's hilarious.

1367
01:13:55,236 --> 01:13:57,796
I think he's the greatest comic of our generation.

1368
01:13:58,256 --> 01:13:59,416
He's truly incredible.

1369
01:13:59,636 --> 01:14:00,476
He is electric.

1370
01:14:00,576 --> 01:14:01,636
I saw him at the Bitcoin conference.

1371
01:14:01,696 --> 01:14:02,316
I saw him speak.

1372
01:14:03,016 --> 01:14:05,996
I've never seen somebody play a crowd like that in my entire life.

1373
01:14:06,076 --> 01:14:07,236
It is insane.

1374
01:14:07,376 --> 01:14:08,556
The guy has a presence.

1375
01:14:09,196 --> 01:14:12,556
I can only imagine that it's even more intense in person.

1376
01:14:13,036 --> 01:14:14,196
And it is from what I've heard.

1377
01:14:14,476 --> 01:14:23,576
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?

1378
01:14:23,976 --> 01:14:27,456
And you think that like, oh, you're going to send out $2,000 checks.

1379
01:14:27,556 --> 01:14:31,296
Like that certainly isn't going to impact prices at all.

1380
01:14:31,296 --> 01:14:31,656
Right.

1381
01:14:31,676 --> 01:14:32,136
That's certain.

1382
01:14:32,236 --> 01:14:34,396
There's no negative externalities from that.

1383
01:14:34,596 --> 01:14:35,796
Like nothing's going to happen there.

1384
01:14:35,796 --> 01:14:45,516
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?

1385
01:14:45,896 --> 01:14:55,576
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.

1386
01:14:57,336 --> 01:15:00,556
We should also look at the other open source developers who are about to go to prison.

1387
01:15:00,876 --> 01:15:01,156
Fuck yeah.

1388
01:15:01,156 --> 01:15:05,216
Samurai devs and Bitcoin Fog and Tornado Cash.

1389
01:15:05,216 --> 01:15:09,536
the podcasters one day guys we're gonna support them now you better support us later yep yep and

1390
01:15:09,536 --> 01:15:16,276
like man it's just like this sort of stuff like what's it we'll just send out two thousand dollar

1391
01:15:16,276 --> 01:15:32,874
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

1392
01:15:32,874 --> 01:15:34,774
because fucking the money doesn't

1393
01:15:34,774 --> 01:15:36,134
matter anyway. We just make it up.

1394
01:15:36,414 --> 01:15:38,854
Yeah, well you do, but none of them actually say that.

1395
01:15:38,994 --> 01:15:40,594
If they said that, if they were like, it's okay,

1396
01:15:40,654 --> 01:15:42,614
it doesn't matter. We just literally print it out of thin air.

1397
01:15:42,694 --> 01:15:44,274
I don't even know why we charge you guys taxes.

1398
01:15:44,434 --> 01:15:45,514
Fuck it. It's all good.

1399
01:15:46,034 --> 01:15:48,014
At least you're honest.

1400
01:15:48,734 --> 01:15:49,854
It was like Biden's

1401
01:15:49,854 --> 01:15:52,014
economic council

1402
01:15:52,014 --> 01:15:56,554
or like he had one of the guys from the Biden administration and they're like why does the

1403
01:15:56,554 --> 01:16:01,414
government need to borrow money that it prints and he just watched his MNMT kind of like mind

1404
01:16:01,414 --> 01:16:05,334
break that no one actually ever posed that question he didn't have an answer to him I

1405
01:16:05,334 --> 01:16:09,554
could give him the answer like there is a reason for it but to your point like one yes on the Trump

1406
01:16:09,554 --> 01:16:14,294
thing big Trump supporter in 2016 being a Canadian if I could have voted for my total I vote if I

1407
01:16:14,294 --> 01:16:16,874
could I probably could have crossed the voter and vote let's not kidding let's not kid ourselves

1408
01:16:16,874 --> 01:16:21,054
I absolutely would have on the free Ross thing like they got me hook line and sinker and I'm

1409
01:16:21,054 --> 01:16:26,474
well aware that they found the right propaganda button to push, that like, yep, if I could have,

1410
01:16:26,514 --> 01:16:29,814
I would have gone in and pulled the lever, pushed the button, ticked the thing for Trump on that one.

1411
01:16:30,394 --> 01:16:36,374
To your point, he is a master, master communicator, and it is worth studying and learning from.

1412
01:16:36,594 --> 01:16:41,574
Scott Adams' book, which I hope he's doing okay these days, Win Bigly, go through it. It's

1413
01:16:41,574 --> 01:16:44,654
phenomenal in terms of communication. It will send you down a communication rabbit hole that's

1414
01:16:44,654 --> 01:16:48,574
definitely worth checking out. But I say all that to soften the blow of what's coming next.

1415
01:16:48,574 --> 01:16:53,914
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.

1416
01:16:54,314 --> 01:16:56,934
Of course he can do wrong. They all can. Hopefully he's the best guy for the job.

1417
01:16:56,974 --> 01:17:00,594
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.

1418
01:17:01,094 --> 01:17:03,494
But again, as Bitcoiners, we realize we can't vote our way out of this.

1419
01:17:03,874 --> 01:17:11,254
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?

1420
01:17:11,814 --> 01:17:14,994
You can't just be a sycophant, right?

1421
01:17:14,994 --> 01:17:18,354
If you want to have change – if you want to have – he's only got a couple years left now.

1422
01:17:18,394 --> 01:17:19,914
What, we got like two and a half or something left here?

1423
01:17:20,474 --> 01:17:26,574
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?

1424
01:17:26,874 --> 01:17:32,534
So of course if you support Trump and he's doing dumb things, then support – it's like giving an addict crack.

1425
01:17:32,654 --> 01:17:34,954
It's like you're not actually supporting him in that moment.

1426
01:17:35,074 --> 01:17:40,914
If he's doing something stupid and you guys – if the base doesn't like it, then direct him the other way.

1427
01:17:40,914 --> 01:17:45,394
you have influence over the man because he wants your support and popularity and legacy.

1428
01:17:45,594 --> 01:17:46,534
So use it.

1429
01:17:47,934 --> 01:17:50,534
I think that that is spot on.

1430
01:17:51,014 --> 01:17:58,714
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.

1431
01:17:59,454 --> 01:17:59,674
Several.

1432
01:18:01,434 --> 01:18:05,974
So I don't actually know what – when it comes to democracy.

1433
01:18:06,414 --> 01:18:07,494
There is no solution.

1434
01:18:07,734 --> 01:18:08,654
There is no solution.

1435
01:18:09,294 --> 01:18:09,754
Right?

1436
01:18:09,754 --> 01:18:16,114
Right. Like, you know, it goes back to that clip of the guy that's like, you know, like the people are retarded.

1437
01:18:16,554 --> 01:18:18,774
Like, you know, the people are retarded.

1438
01:18:19,394 --> 01:18:37,034
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.

1439
01:18:37,034 --> 01:18:38,554
Like it's never who's going to print less money.

1440
01:18:38,554 --> 01:18:39,014
Like, right.

1441
01:18:39,054 --> 01:18:41,054
Like they, they're all going to print more money.

1442
01:18:41,054 --> 01:18:42,594
Just a question of how much more they're going to print.

1443
01:18:43,534 --> 01:18:49,394
But like in our American duopoly in this, uh, uh, my father-in-law who escaped communism

1444
01:18:49,394 --> 01:18:54,954
calls it Coca-Cola, Pepsi-Cola, uh, democracy, which is like, you know, amazing.

1445
01:18:54,954 --> 01:18:55,034
Spot on.

1446
01:18:55,254 --> 01:18:56,394
Goes with that McDonald's conference.

1447
01:18:57,174 --> 01:18:58,154
It really does.

1448
01:18:58,274 --> 01:19:00,454
Um, but just Coca-Cola for, for McDonald's, right?

1449
01:19:00,454 --> 01:19:06,454
Uh, you know, they don't have that Pepsi contract, but it's, it's like everyone is so

1450
01:19:06,454 --> 01:19:13,414
hesitant to call out any of the fuck ups on their own side because there's this idea of like well

1451
01:19:13,414 --> 01:19:18,714
you know yeah our you know our side's like our side's not so great but like at least they're

1452
01:19:18,714 --> 01:19:24,014
not the other guys and both sides think that and so it's like they will just to a fault defend

1453
01:19:24,014 --> 01:19:28,514
defend defend even when you know like you you know something is stupid or you know something

1454
01:19:28,514 --> 01:19:32,854
is fucked up and again i'm talking about both both sides of the aisle here you know something

1455
01:19:32,854 --> 01:19:36,114
is dumb, but you still just go along with it. Cause you're like, well, we gotta, you know,

1456
01:19:36,114 --> 01:19:40,254
we gotta support them. Like, we can't admit that like, maybe this is a dumb idea because you know,

1457
01:19:40,274 --> 01:19:42,654
what's going to happen in the midterms and what's going to happen in the general. Like,

1458
01:19:42,954 --> 01:19:46,894
and it's like, it's, it's always this back to the cycle idea. It's like, man,

1459
01:19:46,894 --> 01:19:51,254
it just so happens that Bitcoin havings tend to fall on a U S presidential election years,

1460
01:19:51,354 --> 01:19:56,894
which is interesting. Right. Uh, again, probably just a coincidence there because of the timing,

1461
01:19:56,974 --> 01:20:01,494
cause Stocia's like, I can't wait any longer to release this shit, but it's, it's frustrating

1462
01:20:01,494 --> 01:20:04,574
because it's like, guys, things don't get better.

1463
01:20:05,414 --> 01:20:07,034
Nothing meaningfully changes

1464
01:20:07,034 --> 01:20:09,394
unless you actually start speaking up

1465
01:20:09,394 --> 01:20:10,234
and speaking the truth.

1466
01:20:10,534 --> 01:20:13,734
And that means calling out your own, quote, side

1467
01:20:13,734 --> 01:20:16,274
when you see them doing dumb stuff.

1468
01:20:17,494 --> 01:20:19,194
That's the only way that things get better.

1469
01:20:19,694 --> 01:20:22,574
And if you don't do that, nothing ever changes.

1470
01:20:22,854 --> 01:20:25,254
And maybe nothing even changes when you do that

1471
01:20:25,254 --> 01:20:28,294
because nothing can be changed from within this system.

1472
01:20:28,854 --> 01:20:30,594
You can't change something from within the system.

1473
01:20:30,594 --> 01:20:36,094
you need to be building outside, moving your economic energy to the parallel system built

1474
01:20:36,094 --> 01:20:37,334
around open source technology.

1475
01:20:37,994 --> 01:20:41,234
Like maybe it is not possible to reform this fiat system.

1476
01:20:41,334 --> 01:20:42,854
Maybe there's no saving this fiat system.

1477
01:20:42,914 --> 01:20:46,774
That's kind of where I'm at, where it's like the fiat system will just keep going.

1478
01:20:46,854 --> 01:20:50,654
It will not be fixed, but we are building parallel systems at the same time.

1479
01:20:50,654 --> 01:20:55,974
And that is what we continue to move our time, our energy, our attention, our lifeblood,

1480
01:20:56,094 --> 01:20:58,774
our energy towards this parallel system.

1481
01:20:58,774 --> 01:21:01,174
and that ultimately just starves the beast.

1482
01:21:01,994 --> 01:21:03,874
But man, it'd be nice if people could at least

1483
01:21:03,874 --> 01:21:05,894
just call out stupid shit when they see it,

1484
01:21:05,934 --> 01:21:07,014
even if it's from their side.

1485
01:21:07,114 --> 01:21:10,154
And some people sure do, but the majority just don't.

1486
01:21:10,434 --> 01:21:11,794
And maybe that's just human nature.

1487
01:21:11,874 --> 01:21:12,794
That's tribalism, right?

1488
01:21:13,154 --> 01:21:15,334
It's like, my tribe good, your tribe bad.

1489
01:21:15,454 --> 01:21:17,414
So I always say, my tribe good.

1490
01:21:18,414 --> 01:21:21,954
But boy, I would encourage people to do their best.

1491
01:21:21,954 --> 01:21:23,434
Call out good shit when you see it.

1492
01:21:23,794 --> 01:21:25,194
And call out bad shit when you see it.

1493
01:21:25,614 --> 01:21:27,714
Call out good shit when you see it from people you don't like.

1494
01:21:27,714 --> 01:21:30,134
and call out bad shit when you see it from people you do like

1495
01:21:30,134 --> 01:21:30,874
and vice versa.

1496
01:21:31,414 --> 01:21:33,894
And the world will be just even a little bit of a better place.

1497
01:21:34,414 --> 01:21:34,594
Maybe.

1498
01:21:34,934 --> 01:21:35,794
I completely agree.

1499
01:21:35,914 --> 01:21:36,334
But it's the,

1500
01:21:37,894 --> 01:21:39,474
again, it goes back to that kind of disagreeable nature.

1501
01:21:39,894 --> 01:21:40,134
It's the,

1502
01:21:41,174 --> 01:21:42,654
it's what do you want to be, right?

1503
01:21:43,074 --> 01:21:44,314
Do you want to be the same as the herd

1504
01:21:44,314 --> 01:21:45,734
or do you want to be a fucking legend, right?

1505
01:21:45,734 --> 01:21:46,274
Because to be a legend,

1506
01:21:46,374 --> 01:21:47,214
you're going to have to go against the group.

1507
01:21:47,454 --> 01:21:48,914
Most people will never do the hard things

1508
01:21:48,914 --> 01:21:50,154
that are required to be a fucking legend,

1509
01:21:50,294 --> 01:21:51,374
like stacking Bitcoin right now,

1510
01:21:51,634 --> 01:21:52,414
like starting companies,

1511
01:21:52,714 --> 01:21:53,594
like starting a family

1512
01:21:53,594 --> 01:21:54,514
where you don't know exactly

1513
01:21:54,514 --> 01:21:55,714
how you're going to necessarily pull it off,

1514
01:21:55,754 --> 01:21:56,674
but you'll fucking figure it out

1515
01:21:56,674 --> 01:21:57,414
and you'll make it work.

1516
01:21:57,714 --> 01:22:02,074
If the system requires you to compromise on your values and integrities, then maybe it's not a system worth saving.

1517
01:22:02,554 --> 01:22:06,334
And at least by calling it out, it's like having a debate.

1518
01:22:06,454 --> 01:22:08,794
It's like if we were to go into spaces right now and debate some shit coin or something.

1519
01:22:09,034 --> 01:22:10,654
We're never going to change their mind.

1520
01:22:10,814 --> 01:22:11,934
It's never going to happen.

1521
01:22:12,574 --> 01:22:14,214
What we're doing is we're talking to the audience.

1522
01:22:14,474 --> 01:22:21,794
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.

1523
01:22:22,214 --> 01:22:25,714
But you might influence your neighbor or your friends to stop and rethink things.

1524
01:22:25,714 --> 01:22:28,894
and maybe go spend some time in the parallel economy or look for a different solution to this problem

1525
01:22:28,894 --> 01:22:30,214
because there is no political solution.

1526
01:22:30,374 --> 01:22:31,034
It's not possible.

1527
01:22:31,514 --> 01:22:33,094
It's a fundamentally flawed system.

1528
01:22:33,454 --> 01:22:39,474
If you're going to have essentially – whether it be like a representational democracy or like a republic system,

1529
01:22:39,594 --> 01:22:45,454
it's all fundamentally flawed because it's based on the idea that you can violate – certain people have different rules.

1530
01:22:45,534 --> 01:22:46,414
You can violate property rights.

1531
01:22:46,794 --> 01:22:49,854
There's rules for some people and different rules for other people based on whether or not they have this random title.

1532
01:22:49,934 --> 01:22:50,574
It can't work.

1533
01:22:50,674 --> 01:22:51,834
It's incoherent.

1534
01:22:53,254 --> 01:22:54,914
Nature loves universals.

1535
01:22:54,914 --> 01:22:57,434
Gravity doesn't turn off when you go to Asia, right?

1536
01:22:57,554 --> 01:22:59,194
It can't happen.

1537
01:23:00,054 --> 01:23:00,974
But at the very least—

1538
01:23:00,974 --> 01:23:01,594
It'd be pretty cool, though.

1539
01:23:01,934 --> 01:23:04,134
Yeah, it'd be pretty fucking sweet if you could go float over there for a little bit.

1540
01:23:04,894 --> 01:23:05,734
I could be taller.

1541
01:23:05,874 --> 01:23:06,594
That's about the best I could do.

1542
01:23:09,114 --> 01:23:15,294
You've got to be willing to say it for a number of reasons, particularly if you're a Bitcoiner.

1543
01:23:15,694 --> 01:23:17,174
We know where things are going.

1544
01:23:17,434 --> 01:23:19,894
You're going to say unpopular things that you believe to be true.

1545
01:23:19,974 --> 01:23:22,634
And even going back to that, like even the COVID, we were speaking the truth.

1546
01:23:22,634 --> 01:23:26,854
I didn't know that I was not always necessarily speaking the truth, but I for sure wasn't lying.

1547
01:23:27,134 --> 01:23:28,034
And I knew that I wasn't lying.

1548
01:23:28,114 --> 01:23:29,574
It's like this doesn't line up for me.

1549
01:23:29,694 --> 01:23:30,674
Here's my previous knowledge.

1550
01:23:30,794 --> 01:23:31,594
Here's what I'm thinking.

1551
01:23:31,794 --> 01:23:32,954
I don't agree.

1552
01:23:33,134 --> 01:23:35,194
I could be wrong, but I'm not lying.

1553
01:23:35,554 --> 01:23:41,754
And if the system is going to get worse, which if you're still here, you probably accept that.

1554
01:23:42,134 --> 01:23:49,754
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.

1555
01:23:49,854 --> 01:23:50,654
You can help rebuild things.

1556
01:23:50,674 --> 01:23:51,974
You can help shape the path forward.

1557
01:23:51,974 --> 01:23:57,234
If you never call them out, you don't really have any sway or credibility or influence.

1558
01:23:57,414 --> 01:24:02,514
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?

1559
01:24:03,294 --> 01:24:08,474
$221,000 and something else on – I forget your call there, Walker.

1560
01:24:08,654 --> 01:24:08,934
Oh, yeah.

1561
01:24:09,074 --> 01:24:11,954
$221,696 on January 1st.

1562
01:24:12,014 --> 01:24:12,274
Perfect.

1563
01:24:12,354 --> 01:24:12,554
Thank you.

1564
01:24:13,074 --> 01:24:13,734
Yeah, yeah, yeah.

1565
01:24:13,894 --> 01:24:14,614
Very scientific.

1566
01:24:14,934 --> 01:24:16,074
Very scientific price call.

1567
01:24:16,074 --> 01:24:22,934
So if that hits, people look at you like a genius and all of a sudden you have influence and you have sway.

1568
01:24:23,474 --> 01:24:24,954
The same – I know, right?

1569
01:24:24,994 --> 01:24:26,134
It's a complete bullshit number.

1570
01:24:26,534 --> 01:24:27,534
So that will be a lot of fun.

1571
01:24:27,814 --> 01:24:28,794
I just made it up.

1572
01:24:29,034 --> 01:24:30,294
I rolled some dice, right?

1573
01:24:30,314 --> 01:24:31,714
It was part of my new cold card setup.

1574
01:24:31,714 --> 01:24:31,954
I made it up.

1575
01:24:32,254 --> 01:24:32,434
Yeah.

1576
01:24:33,354 --> 01:24:35,514
The same thing happens with the political system.

1577
01:24:35,634 --> 01:24:37,014
Like I look at – I love Dave Smith.

1578
01:24:37,194 --> 01:24:38,954
I love part of the Problem podcast.

1579
01:24:39,494 --> 01:24:40,974
And I've listened to him for a long time.

1580
01:24:40,974 --> 01:24:44,234
And funny enough, it was conservative commentators that had him on in the early days.

1581
01:24:44,314 --> 01:24:45,274
I'm like, this dude is sweet.

1582
01:24:45,374 --> 01:24:46,034
I love anarchy.

1583
01:24:46,074 --> 01:24:50,854
Let's go hang out and listen to his stuff. But with those guys with what's his name?

1584
01:24:51,434 --> 01:25:02,694
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.

1585
01:25:03,074 --> 01:25:09,594
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.

1586
01:25:09,594 --> 01:25:13,514
And it's as simple as like this is a dumb idea.

1587
01:25:13,714 --> 01:25:14,674
He shouldn't do that.

1588
01:25:14,774 --> 01:25:24,294
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.

1589
01:25:25,694 --> 01:25:26,474
It's true.

1590
01:25:26,474 --> 01:25:46,954
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.

1591
01:25:46,954 --> 01:25:48,714
Like the incentives are so perverse.

1592
01:25:48,834 --> 01:25:53,354
That's one of the reasons that I love Noster is because these sorts of perverse incentives aren't rewarded.

1593
01:25:53,994 --> 01:25:54,074
Yeah.

1594
01:25:54,074 --> 01:26:00,214
these sorts of, it's just, it's not algorithmically reinforced either by feeding rage bait to people.

1595
01:26:00,414 --> 01:26:04,134
Like, but on centralized social media platforms, which do still have their uses,

1596
01:26:04,134 --> 01:26:05,934
like those are still top of the funnel, right?

1597
01:26:05,994 --> 01:26:08,974
This is why like as Bitcoin podcasters, they're still very important.

1598
01:26:09,074 --> 01:26:10,694
It's because like, that's how you reach new people, right?

1599
01:26:10,914 --> 01:26:11,074
Yep.

1600
01:26:11,094 --> 01:26:13,414
Because the new people, the new people aren't just randomly on Noster.

1601
01:26:13,794 --> 01:26:15,634
You know, I can see it in the stats.

1602
01:26:15,914 --> 01:26:17,114
I can see the newcomers coming in.

1603
01:26:17,174 --> 01:26:17,294
Yeah.

1604
01:26:17,714 --> 01:26:20,814
And, and, and that, and also that like, that's, that's why Noster is so enjoyable

1605
01:26:20,814 --> 01:26:23,314
because it's not full of just, you know, like, but it's a different story, right?

1606
01:26:24,074 --> 01:26:35,954
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.

1607
01:26:35,954 --> 01:26:42,754
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.

1608
01:26:42,814 --> 01:26:44,214
Just, you know, copy them verbatim.

1609
01:26:44,354 --> 01:26:46,094
It's easy to do that.

1610
01:26:46,354 --> 01:26:47,614
It's low effort.

1611
01:26:48,114 --> 01:26:49,914
It is just it's simple.

1612
01:26:49,914 --> 01:26:50,274
Right.

1613
01:26:50,314 --> 01:26:52,334
And, you know, you're doing something safe.

1614
01:26:52,334 --> 01:26:56,734
you're doing something safe because you're just agreeing with somebody else who's already said it

1615
01:26:56,734 --> 01:27:01,654
and and when they said it people liked it and the people that you wanted to like it liked it

1616
01:27:01,654 --> 01:27:09,554
so if you say it those people like it too but it's just i don't know gutless there's no reward either

1617
01:27:09,554 --> 01:27:15,734
no it's like congratulations you don't have your own opinions you have somebody else's

1618
01:27:15,734 --> 01:27:20,114
you've been psyoped into whatever and not that everything's a psyop a lot of things are

1619
01:27:20,114 --> 01:27:24,474
but you've been slapped into whatever rage bait somebody wanted to feed you.

1620
01:27:24,854 --> 01:27:26,094
You bought it hook, line, and sinker.

1621
01:27:26,134 --> 01:27:27,434
You just kept regurgitating it in your own.

1622
01:27:27,454 --> 01:27:28,754
Then you made it part of your identity.

1623
01:27:29,274 --> 01:27:30,894
And when you make it part of your own identity,

1624
01:27:31,114 --> 01:27:32,854
that's when you get into problems.

1625
01:27:32,854 --> 01:27:34,734
Like if you don't have an identity of your own

1626
01:27:34,734 --> 01:27:36,874
that is strong enough to stand at its own two feet,

1627
01:27:37,394 --> 01:27:40,694
and if your identity is instead something that is just copy-pasted

1628
01:27:40,694 --> 01:27:42,574
from somebody else, something that's just adopted,

1629
01:27:42,654 --> 01:27:43,654
you haven't actually thought about it.

1630
01:27:43,654 --> 01:27:44,814
You didn't actually come to it on your own.

1631
01:27:44,854 --> 01:27:48,114
You just said, well, that sounds like, I like the way that guy,

1632
01:27:48,234 --> 01:27:49,854
that's what I think too.

1633
01:27:50,114 --> 01:27:52,694
then there's nothing to it.

1634
01:27:52,974 --> 01:27:53,934
There's nothing there.

1635
01:27:54,214 --> 01:27:56,414
You don't actually have any real conviction with it,

1636
01:27:56,414 --> 01:27:58,494
but you've made it part of who you are.

1637
01:27:58,594 --> 01:28:01,494
You've made that, like, I am this kind of person.

1638
01:28:01,854 --> 01:28:07,234
I do this because people that I look up to,

1639
01:28:07,314 --> 01:28:09,354
that are smarter than me, however I want to look at it.

1640
01:28:09,494 --> 01:28:10,114
My tribe does this.

1641
01:28:10,114 --> 01:28:11,274
Because I'm just following what they said.

1642
01:28:12,274 --> 01:28:16,694
But, man, and granted, that's just going to be the majority of people.

1643
01:28:17,294 --> 01:28:18,914
Necessarily, that's going to be the majority of people.

1644
01:28:20,114 --> 01:28:26,194
But if you consider yourself to not just be the one that follows what the majority do,

1645
01:28:27,374 --> 01:28:33,934
then maybe think long and hard about whose opinions you are adopting as your own.

1646
01:28:34,754 --> 01:28:37,734
And consider just, maybe you should come up with your own opinions.

1647
01:28:38,434 --> 01:28:40,654
Maybe you should just say, no, fuck that.

1648
01:28:40,694 --> 01:28:42,434
Why don't I just think about this a little bit harder?

1649
01:28:42,894 --> 01:28:46,694
Why don't I just actually put in the time to just sit down and think about this

1650
01:28:46,694 --> 01:28:50,694
instead of scrolling X to see somebody else tell me what I should think about it,

1651
01:28:51,294 --> 01:28:53,394
why don't I just think about it and come to my own conclusion

1652
01:28:53,394 --> 01:28:58,634
and pull in a bunch of different sources and think about this in a meaningful way?

1653
01:28:59,274 --> 01:29:00,814
But the problem is that's hard, Nathan.

1654
01:29:00,954 --> 01:29:01,534
That's hard.

1655
01:29:01,894 --> 01:29:02,754
It takes a lot of work.

1656
01:29:02,834 --> 01:29:04,034
It takes a lot of mental energy.

1657
01:29:04,674 --> 01:29:07,314
And it takes a little bit of time because you actually have to slow down

1658
01:29:07,314 --> 01:29:10,774
and think about things and decide what do I actually believe?

1659
01:29:11,474 --> 01:29:16,494
And who am I letting influence my thoughts, my action, my behaviors,

1660
01:29:16,694 --> 01:29:21,094
like, you know, you are the people you surround yourself with.

1661
01:29:21,274 --> 01:29:21,934
Yes, you are.

1662
01:29:22,054 --> 01:29:22,694
As the old trope goes.

1663
01:29:22,794 --> 01:29:26,534
And when you surround yourself, like, I think that applies digitally as well.

1664
01:29:26,914 --> 01:29:29,354
You know, it's a different dynamic, sure.

1665
01:29:29,614 --> 01:29:30,754
Our brain doesn't know the difference.

1666
01:29:31,334 --> 01:29:33,874
Yeah, no, it's, that's a great point.

1667
01:29:33,934 --> 01:29:36,654
Like, again, like, from an evolutionary perspective, it's like,

1668
01:29:37,174 --> 01:29:39,214
this thing is not caught up yet.

1669
01:29:39,734 --> 01:29:44,334
Like, it wasn't built for the internet and for constant 24-7 news

1670
01:29:44,334 --> 01:29:50,614
and inundation from every different side by more sources than we can shake a spear at.

1671
01:29:51,194 --> 01:29:52,674
We're not built for it.

1672
01:29:52,674 --> 01:29:58,754
And so I would just, whether it be a theory about politics, an opinion about politics,

1673
01:29:58,994 --> 01:30:03,834
or about Bitcoin and particular debates in and around Bitcoin, whatever it might be,

1674
01:30:03,934 --> 01:30:07,774
I would just encourage you to come to your own conclusions and think for yourself.

1675
01:30:08,194 --> 01:30:11,314
And I think you'll find it much more rewarding when you do so.

1676
01:30:12,534 --> 01:30:12,714
I agree.

1677
01:30:12,714 --> 01:30:16,994
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.

1678
01:30:17,614 --> 01:30:23,714
And if you don't have this yet, it might be the one thing that's more important than stacking Bitcoin.

1679
01:30:23,994 --> 01:30:26,674
So particularly over the COVID times too, right?

1680
01:30:27,794 --> 01:30:32,854
It is very difficult to stand up to everybody and say no that you're wrong.

1681
01:30:33,294 --> 01:30:38,994
However, if you have the love for me of my wife, then I can tell everybody to fuck off.

1682
01:30:38,994 --> 01:30:40,354
I don't care what you think.

1683
01:30:40,534 --> 01:30:47,294
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.

1684
01:30:47,654 --> 01:30:51,434
But I have that, and it gives me this incredible shield because it doesn't matter.

1685
01:30:51,754 --> 01:30:58,374
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.

1686
01:30:58,954 --> 01:31:03,454
Don't fucking care because the only person whose opinion matters to me is hers.

1687
01:31:03,454 --> 01:31:07,634
as long as she's still good with me and she still thinks I'm awesome and she still loves me.

1688
01:31:07,754 --> 01:31:09,174
I'm fucking untouchable.

1689
01:31:09,514 --> 01:31:11,694
If you don't have that, you will have that.

1690
01:31:11,694 --> 01:31:18,414
If you don't have it, I recommend prioritizing it because it does make you fucking invincible against the mob.

1691
01:31:20,274 --> 01:31:22,534
I cannot say amen enough to that.

1692
01:31:22,914 --> 01:31:29,154
And it is just like if there's any young men listening to this or not young men,

1693
01:31:29,154 --> 01:31:38,334
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.

1694
01:31:38,514 --> 01:31:43,314
And I think your larger point is like that's clarity, right?

1695
01:31:43,474 --> 01:31:43,694
Yep.

1696
01:31:44,014 --> 01:31:45,834
Because that's like –

1697
01:31:45,834 --> 01:31:46,374
It's signal.

1698
01:31:46,954 --> 01:31:47,234
Yeah.

1699
01:31:47,494 --> 01:31:50,194
Like that is – like there is just so much noise out there.

1700
01:31:50,394 --> 01:31:52,914
But what does your wife think of you?

1701
01:31:53,954 --> 01:31:55,534
What do your kids think of you?

1702
01:31:55,534 --> 01:31:58,954
My son is not quite old enough to really – I mean I think he thinks I'm pretty cool.

1703
01:31:58,954 --> 01:31:59,234
Probably.

1704
01:31:59,374 --> 01:31:59,574
Yeah.

1705
01:31:59,734 --> 01:32:00,014
Yeah.

1706
01:32:00,014 --> 01:32:01,174
Like give it a few more years.

1707
01:32:01,234 --> 01:32:01,574
We'll see.

1708
01:32:01,634 --> 01:32:03,154
He'll be a little bit more of a harsh judge.

1709
01:32:03,154 --> 01:32:05,574
But, you know, for now, like, you know, gravy.

1710
01:32:05,814 --> 01:32:07,474
But like that, that's what matters, right?

1711
01:32:07,594 --> 01:32:09,694
Like that's why we do all of this at the end of the day too.

1712
01:32:09,774 --> 01:32:14,334
We do it to try and be the best husband and father that we can be, to provide the best

1713
01:32:14,334 --> 01:32:17,674
life that we can as a, you know, as a husband and father, as a provider.

1714
01:32:17,794 --> 01:32:20,734
Like that's, that's why we Bitcoin podcast, Nathan.

1715
01:32:21,114 --> 01:32:21,514
Damn straight.

1716
01:32:22,914 --> 01:32:23,574
Damn straight.

1717
01:32:25,154 --> 01:32:25,494
Man.

1718
01:32:25,494 --> 01:32:29,594
And, well, boy, we've been on the time flies.

1719
01:32:29,934 --> 01:32:30,334
It really does.

1720
01:32:30,454 --> 01:32:31,774
This is now becoming a regular thing.

1721
01:32:32,014 --> 01:32:38,074
Maybe any time Bitcoin price dumps, I'm just going to have to hit you up and be like, hey, we're going live.

1722
01:32:38,354 --> 01:32:38,814
We're going live.

1723
01:32:39,014 --> 01:32:39,114
Fuck it.

1724
01:32:39,114 --> 01:32:39,434
We're going live.

1725
01:32:40,014 --> 01:32:40,514
We're going live.

1726
01:32:40,834 --> 01:32:44,334
Can I ask, what interview are you dropping tomorrow if you want to tease it for folks?

1727
01:32:44,454 --> 01:32:44,854
Yeah, sure.

1728
01:32:44,854 --> 01:32:48,514
So tomorrow is Andy Schoenover from CrowdHealth.

1729
01:32:48,754 --> 01:32:49,394
His is coming out.

1730
01:32:50,094 --> 01:32:50,194
Nice.

1731
01:32:50,194 --> 01:32:51,814
And then I've got a couple.

1732
01:32:51,814 --> 01:32:55,934
I've got one probably in the pipe that I'll put out next week and then that Jack Cruz one I teed out.

1733
01:32:56,114 --> 01:32:57,454
It's pretty evergreen content.

1734
01:32:57,574 --> 01:32:58,294
I think two time-sensitive.

1735
01:32:58,434 --> 01:32:59,474
So that one will come out a little bit later.

1736
01:33:00,014 --> 01:33:01,914
So it should be a good one.

1737
01:33:01,994 --> 01:33:03,214
I had a lot of fun time talking to Andy.

1738
01:33:04,434 --> 01:33:05,774
It was nice to kind of uncover.

1739
01:33:05,914 --> 01:33:11,154
I realized near the end of the interview it was like, oh, you were an ANCAP libertarian before you found Bitcoin too.

1740
01:33:11,254 --> 01:33:12,334
So it was a great conversation.

1741
01:33:13,794 --> 01:33:15,074
I'm excited to check those out.

1742
01:33:16,074 --> 01:33:21,434
I actually wanted to chat with him and Jack for a while now.

1743
01:33:21,434 --> 01:33:27,974
so maybe i'll hit him up jack's great yeah yeah i've like multiple people in the in the live stream

1744
01:33:27,974 --> 01:33:32,094
chat were like hey you should you should do that that that would be very worthwhile so

1745
01:33:32,094 --> 01:33:38,654
to make that happen but yeah it's you know we're in a maybe the what we could end with here is

1746
01:33:38,654 --> 01:33:44,634
again if you're listening to this right now you are still early you're still so very early you're

1747
01:33:44,634 --> 01:33:50,514
you're up at at least for me you know midnight central time uh midnight plus or minus a few

1748
01:33:50,514 --> 01:33:53,814
hours maybe you're listening in europe you're already in you know in tomorrow you're living in

1749
01:33:53,814 --> 01:33:57,434
the future maybe you're in australia you're like i don't know six days ahead of us or whatever

1750
01:33:57,434 --> 01:34:05,454
whatever you aussies are but you're early yeah you're really early and these these dips like

1751
01:34:05,454 --> 01:34:10,814
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

1752
01:34:10,814 --> 01:34:15,734
that are considered like you know yeah one day one day 10 years from now we yeah anybody who's

1753
01:34:15,734 --> 01:34:21,074
buying right now is an OG, right? Like that's, that's just going to be a reality. And so like,

1754
01:34:21,154 --> 01:34:25,474
but what my point is like, when we say things like, Hey, like you should view this as an

1755
01:34:25,474 --> 01:34:29,734
opportunity. This isn't us sitting on stacks of Bitcoin from 2011, you know, like saying,

1756
01:34:29,734 --> 01:34:35,214
no, no, no. This is us saying like, this is how we view it. We view it as an opportunity because

1757
01:34:35,214 --> 01:34:41,254
it is one, because you have a chance right now. And again, I keep coming back to the fact,

1758
01:34:41,374 --> 01:34:45,014
Nathan, that what we talked about earlier, it's like you fast forward five years,

1759
01:34:45,014 --> 01:34:52,934
to fast forward 10 years, I find it very unlikely that you look back on today, on November 17th,

1760
01:34:52,934 --> 01:34:58,194
now 18th, 2025, and say, boy, I'm sure glad I didn't stack more sats on that day.

1761
01:34:59,294 --> 01:35:04,814
I just don't see it happening. And so if you do have any dry powder left, which I am...

1762
01:35:04,814 --> 01:35:05,714
Jesus, lucky you.

1763
01:35:06,414 --> 01:35:06,854
Boy.

1764
01:35:07,214 --> 01:35:09,814
Did you forget about some in the closet? Like, how'd you pull that off?

1765
01:35:09,814 --> 01:35:17,974
Yeah, no, just, well, luckily our ad responsibly had set a tidy little limit order a couple weeks ago.

1766
01:35:18,314 --> 01:35:19,534
It was like, just in case.

1767
01:35:19,614 --> 01:35:20,074
Just in case.

1768
01:35:20,074 --> 01:35:21,494
Just in case, you know, Wicks down there.

1769
01:35:21,534 --> 01:35:22,094
Got a hot tip.

1770
01:35:22,094 --> 01:35:22,654
And it did.

1771
01:35:22,714 --> 01:35:25,234
And now I'm like, boy, why did I make all those buys in between?

1772
01:35:25,394 --> 01:35:27,274
You know, I should have obviously put it all into the limit order.

1773
01:35:27,594 --> 01:35:29,894
But, you know, none of us have a fucking crystal ball, man.

1774
01:35:30,114 --> 01:35:32,834
And it could have just as easily decided to rip our faces off.

1775
01:35:32,874 --> 01:35:33,814
We don't fucking know.

1776
01:35:34,034 --> 01:35:36,494
We never thought we'd go below the previous all-time high.

1777
01:35:36,634 --> 01:35:38,874
We never thought we'd get a new all-time high before the halving.

1778
01:35:38,874 --> 01:35:40,774
Do not think you know what's coming next.

1779
01:35:41,494 --> 01:35:41,754
Bingo.

1780
01:35:42,074 --> 01:35:42,854
Because we don't.

1781
01:35:42,974 --> 01:35:44,114
We have no clue.

1782
01:35:44,914 --> 01:35:46,334
But we can admit that, right?

1783
01:35:46,474 --> 01:35:49,634
And that's why we can just stay humble and stack sats.

1784
01:35:49,774 --> 01:35:54,994
Man, Odell's advice just continues proving to be some of the best you could possibly give.

1785
01:35:55,074 --> 01:35:56,034
Stay humble and stack sats.

1786
01:35:56,874 --> 01:35:57,794
You'll be okay.

1787
01:35:58,514 --> 01:36:00,494
Do this for your family.

1788
01:36:00,754 --> 01:36:02,014
Do this for your bloodline.

1789
01:36:02,674 --> 01:36:04,514
And do it for yourself too.

1790
01:36:04,934 --> 01:36:07,894
And while you're at it, start yourself a Bitcoin podcast.

1791
01:36:07,894 --> 01:36:13,954
Head to BitcoinPodcast.net slash gear to find everything that you need to start a Bitcoin podcast.

1792
01:36:14,094 --> 01:36:15,954
And before we wrap to Walker, what do you have coming out this week?

1793
01:36:15,994 --> 01:36:16,474
What are you dropping?

1794
01:36:17,074 --> 01:36:21,574
I have I've got an interview with Alex Leishman, CEO of River.

1795
01:36:21,794 --> 01:36:22,034
River.

1796
01:36:22,034 --> 01:36:23,054
I'm not sponsored by River.

1797
01:36:23,054 --> 01:36:24,674
I was going to say, was that after the last week?

1798
01:36:24,774 --> 01:36:25,454
Was he like watching?

1799
01:36:25,534 --> 01:36:26,794
Like, shit, I should sponsor them.

1800
01:36:27,474 --> 01:36:28,434
No, no, no.

1801
01:36:28,574 --> 01:36:29,734
Still not sponsored by him.

1802
01:36:29,774 --> 01:36:31,394
Just had him on because I wanted to have him on.

1803
01:36:31,834 --> 01:36:35,974
He gave a great presentation in D.C. when I was there for the Bitcoin Policy Summit.

1804
01:36:36,174 --> 01:36:36,374
Nice.

1805
01:36:36,374 --> 01:36:37,974
It's about American adoption of Bitcoin.

1806
01:36:38,614 --> 01:36:39,994
It was a really interesting conversation.

1807
01:36:40,134 --> 01:36:42,374
He's just like a fascinating guy, like CEO, CTO.

1808
01:36:42,654 --> 01:36:44,694
Like he's walking and chewing gum at the same time.

1809
01:36:44,754 --> 01:36:45,474
I think it's very cool.

1810
01:36:45,814 --> 01:36:47,094
And I'm just a happy customer of Rivers.

1811
01:36:47,494 --> 01:36:47,894
Yep, fair enough.

1812
01:36:48,334 --> 01:36:50,434
Not sponsored, just like their product.

1813
01:36:50,494 --> 01:36:50,954
Like their product.

1814
01:36:50,974 --> 01:36:51,794
I like that I don't have to use Coinbase.

1815
01:36:52,134 --> 01:36:53,254
I like that they're Bitcoin only.

1816
01:36:54,894 --> 01:36:55,874
And yeah, got that.

1817
01:36:56,074 --> 01:36:59,194
And then I've got Max Hillebrand coming out a little bit later in the week.

1818
01:36:59,354 --> 01:37:00,274
Max is an awesome dude.

1819
01:37:00,334 --> 01:37:00,754
Oh, dude, so good.

1820
01:37:00,834 --> 01:37:02,734
Yeah, we had him on Why We Bullish like two weeks ago.

1821
01:37:02,734 --> 01:37:08,094
dude's just he's like this quiet zen fire of like i'm going to take over the state and i'm building

1822
01:37:08,094 --> 01:37:14,014
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

1823
01:37:14,014 --> 01:37:19,834
he's a beautiful soul and a true anarchist in the in the true meaning of the word yes uh i've got an

1824
01:37:19,834 --> 01:37:23,394
interview coming up that i'll be dropping soon for anyone that watched on no store already they've

1825
01:37:23,394 --> 01:37:28,834
seen it but with uh with angela mccardell the former libertarian party chair right and uh current

1826
01:37:28,834 --> 01:37:33,114
Mises caucus chair, which was honestly super interesting.

1827
01:37:33,254 --> 01:37:33,974
She's a badass.

1828
01:37:34,254 --> 01:37:35,454
You should get Spike Cohen too.

1829
01:37:35,534 --> 01:37:36,134
I had him.

1830
01:37:36,214 --> 01:37:37,554
He's awesome to talk to.

1831
01:37:37,934 --> 01:37:39,154
Dude, I would love to be from 2020.

1832
01:37:39,454 --> 01:37:39,574
Yeah.

1833
01:37:39,874 --> 01:37:40,954
I would love to get him on, man.

1834
01:37:40,974 --> 01:37:41,754
That'd be super cool.

1835
01:37:42,434 --> 01:37:44,194
And then Jeff Booth on today.

1836
01:37:44,714 --> 01:37:45,454
Fucking wedding.

1837
01:37:45,634 --> 01:37:47,854
Now I've done two Bitcoin podcasts in one day.

1838
01:37:48,514 --> 01:37:50,534
As a Bitcoin podcaster, what else can you ask for?

1839
01:37:50,534 --> 01:37:55,114
My cup overflows with the joy of Bitcoin podcasting.

1840
01:37:56,094 --> 01:37:56,754
Damn straight.

1841
01:37:57,214 --> 01:37:57,794
Damn straight.

1842
01:37:57,794 --> 01:38:07,714
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.

1843
01:38:08,334 --> 01:38:11,754
But you guys do a ton. You and your co-host, Gary, who definitely did not.

1844
01:38:12,134 --> 01:38:12,874
I did not.

1845
01:38:13,194 --> 01:38:14,494
The 60K bottom.

1846
01:38:14,594 --> 01:38:20,094
It's the 60K. No matter what you hear, it's totally false. That was not Gary.

1847
01:38:20,294 --> 01:38:20,914
That was not Gary.

1848
01:38:21,074 --> 01:38:24,134
That was some other guy with a similar sunny name.

1849
01:38:24,494 --> 01:38:26,654
They should check out your show. It's fantastic.

1850
01:38:26,654 --> 01:38:29,094
and we actually did a whole Bitcoin podcast

1851
01:38:29,094 --> 01:38:30,754
about Bitcoin podcasting on that show

1852
01:38:30,754 --> 01:38:32,474
which was a blast. It was a great time.

1853
01:38:33,414 --> 01:38:34,354
It was a wonderful time.

1854
01:38:34,874 --> 01:38:36,334
We might just have to make this

1855
01:38:36,334 --> 01:38:38,534
a regular thing. We're going to be doing

1856
01:38:38,534 --> 01:38:40,734
maybe we can tease it now for any of the

1857
01:38:40,734 --> 01:38:42,414
couple people who are still listening. What do you say?

1858
01:38:42,634 --> 01:38:44,634
For the couple people that are still listening

1859
01:38:44,634 --> 01:38:46,874
there may be some more collaborative work

1860
01:38:46,874 --> 01:38:48,754
coming out in the new year so stay tuned

1861
01:38:48,754 --> 01:38:50,774
we'll see what ideas we come up with.

1862
01:38:51,274 --> 01:38:52,914
Yeah, we'll leave you

1863
01:38:52,914 --> 01:38:54,774
with that and so yeah, I guess

1864
01:38:54,774 --> 01:38:58,674
this has been a pleasure man this is a great time now we should both probably you know get to like

1865
01:38:58,674 --> 01:39:03,614
editing shit and you know i gotta upload i gotta edit i gotta finish cleaning the kitchen you

1866
01:39:03,614 --> 01:39:07,914
literally text me like yeah i don't want to clean i'm sorry podcast i'm sorry but but what a rip it

1867
01:39:07,914 --> 01:39:12,774
was this was this was needed needed for ourselves thank you to everybody who tuned in appreciate

1868
01:39:12,774 --> 01:39:17,194
you all nathan appreciate you and uh yeah i'm hopefully you know hopefully we'll just keep

1869
01:39:17,194 --> 01:39:21,534
ripping and we won't need to do this again soon but i kind of hope we maybe we might have a little

1870
01:39:21,534 --> 01:39:22,274
It's a friendly correction.

1871
01:39:22,854 --> 01:39:23,314
We'll see.

1872
01:39:23,554 --> 01:39:24,414
It's not about the price.

1873
01:39:24,554 --> 01:39:25,814
It's about the friends we made along the way.

1874
01:39:26,394 --> 01:39:27,334
That's the real yield.

1875
01:39:27,634 --> 01:39:29,714
And with that, we bid you all adieu.

1876
01:39:36,614 --> 01:39:41,434
And that's a wrap on this Bitcoin Talk episode of The Bitcoin Podcast.

1877
01:39:42,114 --> 01:39:50,354
Remember to subscribe to this podcast wherever you're watching or listening and share it with your friends, family, and strangers on the internet.

1878
01:39:50,354 --> 01:39:57,074
Find me on Noster at primal.net slash Walker and this podcast at primal.net slash Titcoin.

1879
01:39:57,514 --> 01:40:05,194
On X, YouTube, and Rumble, just search at Walker America and find this podcast on X and Instagram at Titcoin Podcast.

1880
01:40:05,934 --> 01:40:08,174
Head to the show notes to grab sponsor links.

1881
01:40:08,294 --> 01:40:12,994
Head to substack.com slash at Walker America to get episodes emailed to you.

1882
01:40:13,354 --> 01:40:16,774
And head to bitcoinpodcast.net for everything else.

1883
01:40:16,774 --> 01:40:20,894
Bitcoin is scarce, but podcasts are abundant.

1884
01:40:21,494 --> 01:40:26,254
So thank you for spending your scarce time listening to The Bitcoin Podcast.

1885
01:40:27,134 --> 01:40:29,554
Until next time, stay free.