1 00:00:00,000 --> 00:00:08,520 what's up welcome back to our live tuesday night uh live stream here episode number 31 2 00:00:08,520 --> 00:00:14,000 this is bitcoin center brought to you by bite federal my name is cedric young woman i'm paul 3 00:00:14,000 --> 00:00:20,860 tarantino man uh it's been another week huh yeah dude all right uh yeah how was your week i was 4 00:00:20,860 --> 00:00:28,540 good busy i mean it's just non-stop stuff going on yeah i want to read this uh tweet thread here 5 00:00:29,340 --> 00:00:30,580 This is what I thought was interesting. 6 00:00:31,260 --> 00:00:35,600 Is Nicole Shanahan the most successful sexual entrepreneur in the world? 7 00:00:36,680 --> 00:00:39,200 She was engaged to be married to a guy in finance. 8 00:00:39,860 --> 00:00:41,880 This was answered by Simon Dixon, by the way. 9 00:00:41,920 --> 00:00:43,080 That's why I'm reading this. 10 00:00:43,620 --> 00:00:47,520 Shanahan then met and began an affair with Google co-founder Sergey Brin, 11 00:00:47,640 --> 00:00:48,820 one of the richest men in the world, 12 00:00:48,820 --> 00:00:51,960 a month before her wedding at her own bachelorette party. 13 00:00:52,780 --> 00:00:55,980 Her husband ends the marriage after finding out she then marries Brin. 14 00:00:56,700 --> 00:00:58,480 This causes all kinds of problems. 15 00:00:58,540 --> 00:01:01,960 at Google and causes Bryn to neglect his work and personal responsibilities. 16 00:01:02,780 --> 00:01:06,680 Larry Page, his co-founder, disapproves of the relationship, and this causes much turmoil 17 00:01:06,680 --> 00:01:07,220 at the company. 18 00:01:08,460 --> 00:01:09,040 Did you know this? 19 00:01:09,180 --> 00:01:09,440 No. 20 00:01:09,680 --> 00:01:14,160 Her marriage with Bryn falls apart when she sleeps with Elon Musk. 21 00:01:14,840 --> 00:01:15,840 Shut the fuck up. 22 00:01:16,840 --> 00:01:20,240 One of only a handful of men in the world richer than her husband. 23 00:01:21,160 --> 00:01:24,380 Musk publicly begs Bryn for forgiveness at a party. 24 00:01:25,320 --> 00:01:28,960 Bryn is so hurt he sells $336 million in Tesla stock. 25 00:01:29,600 --> 00:01:32,420 And his friends stop driving Teslas in solidarity. 26 00:01:33,580 --> 00:01:38,620 Bryn gives Shanahan a billion dollars in the divorce, I guess, according to this guy, to go away. 27 00:01:39,280 --> 00:01:44,480 Shanahan uses her money to run for vice president and spread anti-vax conspiracy theories. 28 00:01:44,480 --> 00:01:45,840 This is all verbatim. 29 00:01:46,560 --> 00:01:49,340 The RFK movement helps Trump reclaim the White House. 30 00:01:49,340 --> 00:01:54,540 just because of who she was able to sleep with this woman caused major turmoil at google destroyed 31 00:01:54,540 --> 00:01:58,060 the friendship of two of the richest men in the world implausibly determined the outcome of a 32 00:01:58,060 --> 00:02:03,080 presidential election just an amazing story and goes to show how the the maga movement is like a 33 00:02:03,080 --> 00:02:09,300 dream team of apex grifters uh it's such you have a reality tv star taking over a major political 34 00:02:09,300 --> 00:02:13,080 party the king of pseudoscience the biggest influence is able to give the brain rotted 35 00:02:13,080 --> 00:02:18,100 masses what they want and the woman who became a billionaire influential political operative just 36 00:02:18,100 --> 00:02:19,320 by sleeping away to the top. 37 00:02:19,660 --> 00:02:20,420 That's a little rough. 38 00:02:21,340 --> 00:02:23,080 But this is Simon Dixon responds. 39 00:02:23,160 --> 00:02:24,560 This is what the dollar is backed by. 40 00:02:24,640 --> 00:02:25,880 It's a proof of weapons network. 41 00:02:26,500 --> 00:02:28,540 Sex is now a weapon that impacts share prices 42 00:02:28,540 --> 00:02:29,880 more than earnings per share. 43 00:02:30,420 --> 00:02:33,060 This is what the late stage of an empire's debt cycle 44 00:02:33,060 --> 00:02:33,560 looks like. 45 00:02:33,660 --> 00:02:35,760 Anything to pump up stocks at the expense of the dollar. 46 00:02:36,360 --> 00:02:36,800 Wow. 47 00:02:37,400 --> 00:02:39,100 Yeah, I thought that was interesting nuance. 48 00:02:39,640 --> 00:02:40,480 That's wild. 49 00:02:41,140 --> 00:02:42,900 She's decentralizing the tech. 50 00:02:45,100 --> 00:02:47,300 Well, right now she's out sort of speaking for, 51 00:02:47,300 --> 00:02:53,540 uh i guess like tech wives or you know yeah yeah a lot of philanthropy she seems super smart 52 00:02:54,340 --> 00:03:00,340 um and she was really influential and i think rfk's run yeah so i don't know i don't know i 53 00:03:00,340 --> 00:03:04,420 had no idea i mean i didn't know the backstory generally agreed with everything she has said 54 00:03:04,420 --> 00:03:12,100 but i had no idea all this was behind all that no i had no idea either yeah so it's interesting 55 00:03:12,100 --> 00:03:12,660 Wow. 56 00:03:13,780 --> 00:03:14,000 Yeah. 57 00:03:14,220 --> 00:03:17,660 Well, it's not the worst thing in the world if two tech billionaires aren't buddies. 58 00:03:18,300 --> 00:03:19,520 No, I mean, that's kind of common. 59 00:03:19,960 --> 00:03:24,520 I mean, how many rock stars in a band stay friends over 30, 40 years? 60 00:03:25,060 --> 00:03:26,780 Rock stars in a band, baby. 61 00:03:27,920 --> 00:03:28,300 All right. 62 00:03:28,340 --> 00:03:29,440 Well, let's get into the show. 63 00:03:30,000 --> 00:03:32,920 This is Bitcoin Center brought to you by Bifederal. 64 00:03:33,180 --> 00:03:34,080 Go bank yourself. 65 00:03:34,860 --> 00:03:36,440 ATMs, wallets. 66 00:03:36,620 --> 00:03:37,120 Point of sale. 67 00:03:37,200 --> 00:03:37,780 Point of sale. 68 00:03:38,180 --> 00:03:39,240 Use Bitcoin as money. 69 00:03:39,780 --> 00:03:40,240 Do it. 70 00:03:42,100 --> 00:03:51,700 Let's be real, right? 71 00:03:52,000 --> 00:03:54,620 Praising Telegram for launching a Bitcoin wallet. 72 00:03:55,220 --> 00:04:01,400 I've always felt like, with Haley, Bitcoin, this digital currency that's out there that 73 00:04:01,400 --> 00:04:03,540 people say, oh, it might be the next big thing. 74 00:04:03,740 --> 00:04:04,420 What do you think? 75 00:04:04,880 --> 00:04:05,960 I think it's rat poison. 76 00:04:06,680 --> 00:04:07,160 Bitcoins. 77 00:04:07,320 --> 00:04:08,640 You never heard them a few weeks ago. 78 00:04:08,860 --> 00:04:10,440 Now everybody's talking about them. 79 00:04:10,580 --> 00:04:11,680 But is it a currency? 80 00:04:11,680 --> 00:04:12,440 I don't know. 81 00:04:12,640 --> 00:04:13,960 Or is it more like a stock? 82 00:04:14,160 --> 00:04:15,540 Or is it a tulip bowl? 83 00:04:15,660 --> 00:04:16,520 We're going to debate that. 84 00:04:16,700 --> 00:04:17,040 Stupid. 85 00:04:17,240 --> 00:04:20,400 To me, it smells like Ponzi scheme and the greater pool theory writing. 86 00:04:20,600 --> 00:04:23,240 You do like five minutes of freaking research. 87 00:04:23,640 --> 00:04:25,060 Well, thanks for coming to my set talk. 88 00:04:25,240 --> 00:04:25,540 Yes. 89 00:04:26,380 --> 00:04:27,560 Don't buy shit quits. 90 00:04:27,740 --> 00:04:29,000 Oh, man, I was getting that wrong. 91 00:04:29,140 --> 00:04:29,500 All right. 92 00:04:30,520 --> 00:04:31,880 Bitcoin's recent rally. 93 00:04:32,040 --> 00:04:32,580 Do you agree? 94 00:04:32,680 --> 00:04:33,900 Is crypto finally dead? 95 00:04:34,000 --> 00:04:34,720 Go to the next one. 96 00:04:34,860 --> 00:04:37,060 Matter of fact, they're kind of in the ethernet. 97 00:04:37,180 --> 00:04:38,000 What are they? 98 00:04:38,000 --> 00:04:40,020 Some rumors that it's a Japanese guy, 99 00:04:40,020 --> 00:04:41,760 I better say no, that he's a fake name. 100 00:04:41,840 --> 00:04:42,600 It was a pseudonym. 101 00:04:42,960 --> 00:04:44,600 I mean, you're literally putting real money 102 00:04:44,600 --> 00:04:47,020 onto a system that we don't even know who created it. 103 00:04:47,100 --> 00:04:48,100 It will come to a bad ending. 104 00:04:48,500 --> 00:04:50,760 Is this the most exciting bull run ever? 105 00:04:51,160 --> 00:04:52,160 Not for me. 106 00:04:52,480 --> 00:04:53,460 No, it's not. 107 00:05:02,980 --> 00:05:05,040 Welcome to Bitcoin Center, 108 00:05:05,040 --> 00:05:09,120 the fast-paced show where the debate is the story. 109 00:05:10,020 --> 00:05:19,160 Dude, I just realized you're going to have to change the intro from the flying RV to the chicken coop landing in the backyard. 110 00:05:20,580 --> 00:05:21,240 All right. 111 00:05:21,340 --> 00:05:22,400 Francis, get on it. 112 00:05:22,420 --> 00:05:23,600 We're going to take the intro there. 113 00:05:24,080 --> 00:05:24,240 All right. 114 00:05:24,260 --> 00:05:24,820 Let's get into it. 115 00:05:24,840 --> 00:05:25,900 The top story of the week. 116 00:05:26,140 --> 00:05:30,560 The world's largest corporate Bitcoin holder is now worth less than its Bitcoin. 117 00:05:31,080 --> 00:05:35,560 Strategy holds 650,000 Bitcoin worth 55.9 billion today. 118 00:05:36,040 --> 00:05:38,600 Its market cap is only 45 billion and change. 119 00:05:38,600 --> 00:05:45,800 does this officially signal the end of the bitcoin treasury company playbook no and why not or what 120 00:05:45,800 --> 00:05:52,040 are you thinking like uh as as mnav goes below one on yeah yeah the biggest pioneer in the space 121 00:05:52,040 --> 00:05:59,000 I think you you're seeing momentum pile on you're seeing um people trying to really understand these 122 00:05:59,000 --> 00:06:04,700 companies uh you I mean there's definitely going to be some train wrecks there's definitely going 123 00:06:04,700 --> 00:06:09,680 consolidation. There's definitely going to be changes to business models, but it's going to 124 00:06:09,680 --> 00:06:16,200 sort itself out. And at the end of the day, Bitcoin will go to all-time highs again, and the FOMO 125 00:06:16,200 --> 00:06:24,160 will start again, and MNAVs will expand. Will they go to five, seven times? Probably not, but 126 00:06:24,160 --> 00:06:26,480 I don't think it's going to stay here. You think we get above two? 127 00:06:26,700 --> 00:06:29,960 I don't think it's going to stay here. I think there's people that are probably looking at this 128 00:06:29,960 --> 00:06:34,280 right now saying, wait a minute, I can buy this at a discount. 129 00:06:34,660 --> 00:06:37,540 What about the potential delisting from indexes? 130 00:06:37,660 --> 00:06:40,140 Yeah, that's interesting. 131 00:06:41,520 --> 00:06:45,340 And do you think this is a concerted effort by the likes of JP? 132 00:06:45,340 --> 00:06:46,120 Yes, I do. 133 00:06:46,200 --> 00:06:47,780 I do think it's on purpose. 134 00:06:47,780 --> 00:06:51,680 I think they're going to be rolling out similar credit products. 135 00:06:54,140 --> 00:06:57,440 And they would like nothing more than to take some of that market away from 136 00:06:57,440 --> 00:07:03,840 sailor because he's been so successful with it so yeah i mean that's just you know i it's a war 137 00:07:03,840 --> 00:07:10,000 it's you know bitcoin is rattling the cages all right well yesterday uh so this is peter schiff 138 00:07:10,000 --> 00:07:15,560 chiming in today is the beginning of the end of mstr sailor was forced to sell stock not to buy 139 00:07:15,560 --> 00:07:21,560 bitcoin but to buy u.s dollars merely to fund mstr's interest and dividend obligations the stock 140 00:07:21,560 --> 00:07:25,280 is broken the business model is a fraud and sailor is the biggest comment on wall street 141 00:07:25,280 --> 00:07:31,520 those are those are those are rough words yeah um i don't know but what about the deeper question 142 00:07:31,520 --> 00:07:40,620 i think i think um right there's been pressure for from him to sell bitcoin if he needs to and 143 00:07:40,620 --> 00:07:47,160 now he's saying he would do that there's been pressure for him to uh have a cash reserve so 144 00:07:47,160 --> 00:07:51,740 that he could pay these dividends and now he's getting that so like he's figuring this thing out 145 00:07:51,740 --> 00:07:58,760 but no one's going to be happy no one's going to be happy but at the end of the day 146 00:07:58,760 --> 00:08:05,240 smart investors buy deep what do you think of them raising cash and sitting on cap i mean we 147 00:08:05,240 --> 00:08:12,200 went from you know 500 million dollar i think okay my only my only criticism of that is why 148 00:08:12,200 --> 00:08:19,200 where we were why weren't you raising cash when bitcoin was higher and buying dips right so 149 00:08:19,200 --> 00:08:23,080 So maybe that model will change over time, right? 150 00:08:23,400 --> 00:08:27,420 Maybe they thought that they could corner so much of the market, 151 00:08:27,520 --> 00:08:28,740 they could drive Bitcoin up forever. 152 00:08:29,400 --> 00:08:31,520 But obviously they can't. 153 00:08:31,940 --> 00:08:36,440 There's been a significant wall of selling over this last year, 154 00:08:36,620 --> 00:08:41,280 and it's hurt their performance. 155 00:08:42,120 --> 00:08:47,220 But I don't think it changes the long-term vision for what he's building. 156 00:08:47,420 --> 00:08:48,940 I think his vision is going to evolve. 157 00:08:49,200 --> 00:08:54,840 I think you put him under the pressure of an attack and I think you get pretty 158 00:08:54,840 --> 00:08:55,300 creative. 159 00:08:55,540 --> 00:08:56,020 Yeah. 160 00:08:56,080 --> 00:08:57,120 He seems to be a survivor, 161 00:08:57,260 --> 00:08:57,780 bobbing and weaving. 162 00:08:58,220 --> 00:09:00,360 I think they're going to bounce back strong strategy. 163 00:09:00,360 --> 00:09:01,920 This is a bit pure chart. 164 00:09:02,160 --> 00:09:02,340 Okay. 165 00:09:02,480 --> 00:09:03,640 I'm did strategies, 166 00:09:03,780 --> 00:09:06,120 new fiat reserve for dividend interest payments, 167 00:09:06,240 --> 00:09:10,300 checks a box for institutional credit due diligence and rating agencies, 168 00:09:10,400 --> 00:09:12,240 near-term coverage of fixed obligations. 169 00:09:13,220 --> 00:09:14,020 Long-term, 170 00:09:14,160 --> 00:09:17,440 this will likely attract more capital for the preferred preferreds, 171 00:09:17,440 --> 00:09:22,620 more business bitcoin accumulation and increasing amplification for the common 172 00:09:22,620 --> 00:09:26,860 at a lower cost of capital this would outweigh the opportunity cost of not holding marginally 173 00:09:26,860 --> 00:09:31,220 more bitcoin right so it looks like the strategy is evolving i think we're all learning here yep 174 00:09:31,220 --> 00:09:38,900 um the last one i want to bring up is uh dan hillary chimed in here and i thought this was 175 00:09:38,900 --> 00:09:43,700 interesting let me bring this one up so holding mstr is a call option on them lending out their 176 00:09:43,700 --> 00:09:49,140 bitcoin and creating exponential bitcoin yield into the future the reason mnav is not able to 177 00:09:49,140 --> 00:09:54,980 be sustainably high above 2x is because bitcoin yield based on current tactics is naturally 178 00:09:54,980 --> 00:10:00,740 diminishing if instead strategies bitcoin stack yielded four percent annually via some form of 179 00:10:00,740 --> 00:10:06,340 lending this would be an exponential bitcoin yield in a world of pe ratios there could be a high 180 00:10:06,340 --> 00:10:11,700 multiple in this exponential yield and could be a significant catalyst for sustained higher mnavs 181 00:10:11,700 --> 00:10:12,980 How do you get the MNAM higher? 182 00:10:13,540 --> 00:10:14,620 People think we are close. 183 00:10:14,680 --> 00:10:16,420 This is Fang Li talking. 184 00:10:16,520 --> 00:10:17,500 How do you get the MNAM higher? 185 00:10:17,660 --> 00:10:20,560 People think we are a close-ended fund, but we're an operating company. 186 00:10:21,100 --> 00:10:25,400 We should trade at some premium that represents our ability to grow our treasury reserves over time. 187 00:10:26,040 --> 00:10:29,960 Over the course of the next year, big real banks are going to offer services. 188 00:10:30,600 --> 00:10:32,680 We would consider lending with large banks. 189 00:10:32,920 --> 00:10:37,320 Have had a lot of productive conversations with large U.S. banks, and they're excited to partner with them. 190 00:10:37,960 --> 00:10:41,660 And that was in response to Fang Li, CEO of Strategy, going on Bloomberg TV today. 191 00:10:41,700 --> 00:10:45,960 and just referring to the 1.4 billion in US dollar reserves. 192 00:10:46,300 --> 00:10:48,720 So, you know, it's an interesting about that. 193 00:10:48,800 --> 00:10:50,480 You know, that would coincide with like, 194 00:10:51,260 --> 00:10:54,900 of course, JP Morgan would want to attack strategy 195 00:10:54,900 --> 00:10:56,860 if they're going to get into that business. 196 00:10:56,940 --> 00:10:57,720 Yeah, definitely. 197 00:10:58,000 --> 00:11:01,500 And a lot of other, I think, like-minded allies of theirs. 198 00:11:01,660 --> 00:11:02,880 So let's jump into the next one. 199 00:11:02,940 --> 00:11:03,360 Yeah, let's do it. 200 00:11:03,360 --> 00:11:04,020 All right. 201 00:11:04,220 --> 00:11:07,360 Topic number two, miners' pivot to AI infrastructure. 202 00:11:08,040 --> 00:11:10,080 Major miners are now partnering with AI firms. 203 00:11:10,080 --> 00:11:22,760 Microsoft's $9.7 billion deal with Iris Energy, Amazon's $5.5 billion deal with Cypher to repurpose high-power mining facilities for AI GPUs. 204 00:11:23,080 --> 00:11:24,640 Could this pose a risk to Bitcoin security? 205 00:11:24,760 --> 00:11:26,700 No, I don't think this poses a risk. 206 00:11:26,840 --> 00:11:32,720 I think this enhances Bitcoin's position in the infrastructure of the country and sort of power. 207 00:11:33,300 --> 00:11:34,880 I want to read more from this article. 208 00:11:34,880 --> 00:11:37,420 The future of power-integrated AI infrastructure. 209 00:11:37,420 --> 00:11:43,100 The convergence of Bitcoin mining and AI infrastructure is reshaping the global energy and tech landscape. 210 00:11:43,680 --> 00:11:52,000 By 2026, Bitcoin miners could control over 20 gigawatts of AI-ready power capacity, with companies like Iran and CleanSpark leading the charge. 211 00:11:52,480 --> 00:11:54,900 This shift is not merely about repurposing hardware. 212 00:11:55,180 --> 00:11:58,580 It's about redefining how digital infrastructure interacts with energy systems. 213 00:11:58,580 --> 00:12:02,740 So, and I think this is also in response to, you know, 214 00:12:02,740 --> 00:12:07,580 sort of hash rate going out of control at all time highs, 215 00:12:07,580 --> 00:12:10,420 Bitcoin's price plummeting. 216 00:12:10,420 --> 00:12:13,700 The commitments from these AI companies for this power usage, 217 00:12:13,700 --> 00:12:30,959 and that all essentially these companies are doing selling power is astronomical I a little suspect on whether going to deliver the actual revenue from all these contracts but I think this makes perfect sense and I think this integrates AI and Bitcoin uh a lot or as it should and I 218 00:12:30,959 --> 00:12:35,039 hopeful that Bitcoin will be the thing that kind of bends AI towards truth I mean I think it's good 219 00:12:35,039 --> 00:12:39,119 for energy production yeah at large which is going to be good for Bitcoin mining it's going 220 00:12:39,119 --> 00:12:41,159 good for the United States in general. 221 00:12:42,079 --> 00:12:43,679 I think it's going to lead towards nuclear. 222 00:12:44,319 --> 00:12:45,539 Yeah, I do. 223 00:12:45,659 --> 00:12:46,179 I agree. 224 00:12:46,419 --> 00:12:46,779 I agree. 225 00:12:47,319 --> 00:12:48,859 All right, let's move on to the next one here. 226 00:12:49,999 --> 00:12:51,799 All right, let's go talk about Elon some more. 227 00:12:51,799 --> 00:12:57,899 Some fundamental currencies, if you will, that are physics-based. 228 00:12:58,459 --> 00:13:02,579 So energy is the true currency. 229 00:13:02,899 --> 00:13:05,159 This is why I said Bitcoin is based on energy. 230 00:13:05,499 --> 00:13:07,279 You can't legislate energy. 231 00:13:07,279 --> 00:13:11,499 You can't just pass a law and suddenly have a lot of energy. 232 00:13:13,519 --> 00:13:21,259 It's very difficult to generate energy, especially to harness energy in a useful way to do useful work. 233 00:13:22,359 --> 00:13:36,699 So I think that probably we won't have money and probably we'll just have energy, power generation as the de facto currency. 234 00:13:37,279 --> 00:13:44,299 that was a little confounding when he says we're probably not going to have money i've actually 235 00:13:44,299 --> 00:13:52,319 heard this kind of theory before from others that eventually all money would go away and it would 236 00:13:52,319 --> 00:13:58,439 just be energy but it's hard what does that mean like how do you trade would you trade bitcoin 237 00:13:58,439 --> 00:14:03,559 if you're going to trade an energy token then you're going to be trading bitcoin right so 238 00:14:03,559 --> 00:14:04,559 So there's still tokens. 239 00:14:04,559 --> 00:14:05,559 They're just I don't know what he says. 240 00:14:05,559 --> 00:14:07,159 There's not going to be money at first. 241 00:14:07,159 --> 00:14:10,559 I'm thinking that he's conflating that with fiat and saying currencies are going to go 242 00:14:10,559 --> 00:14:11,559 away. 243 00:14:11,559 --> 00:14:12,559 Maybe. 244 00:14:12,559 --> 00:14:17,339 And then he's saying something like Bitcoin's an energy backed token when that's just money. 245 00:14:17,339 --> 00:14:20,179 So it's still I'm still not blown away by anything he says. 246 00:14:20,179 --> 00:14:22,179 When he changes his mind, he's just going to apologize. 247 00:14:22,179 --> 00:14:23,179 Is that a new clip? 248 00:14:23,179 --> 00:14:24,679 I'm not positive that's a new clip. 249 00:14:24,679 --> 00:14:25,679 No, it's old. 250 00:14:25,679 --> 00:14:26,679 That's old. 251 00:14:26,679 --> 00:14:27,679 Okay. 252 00:14:27,679 --> 00:14:28,679 That's why it's not. 253 00:14:28,679 --> 00:14:29,679 It's just going around. 254 00:14:29,679 --> 00:14:30,679 No, it's pretty new, guys. 255 00:14:30,679 --> 00:14:31,679 That's pretty new. 256 00:14:31,679 --> 00:14:32,679 Sure. 257 00:14:32,679 --> 00:14:37,999 nose flash like anytime he's ever ever mentioned either things like doge or bitcoin right and i 258 00:14:37,999 --> 00:14:44,519 don't think it's making as big a noise as it used to um but i don't know uh it's interesting he still 259 00:14:44,519 --> 00:14:49,459 seems like a word salad to me well he's he's a complicated guy right i mean he goes all over the 260 00:14:49,459 --> 00:14:54,059 place he's like like he'll change his tune all the time like next week he could be talking about 261 00:14:54,059 --> 00:15:00,299 fucking ripple far we know yeah right but um i mean i think a lot of the times when he was talking 262 00:15:00,299 --> 00:15:06,459 when he was talking about doge that was on the back of all the repercussions he got from moving 263 00:15:06,459 --> 00:15:13,279 to bitcoin during the the green energy attack on bitcoin or you know that it was going to burn the 264 00:15:13,279 --> 00:15:21,439 world and it's it's like he he has a lot of masters to please in his world so you're excusing 265 00:15:21,439 --> 00:15:27,119 his flip-flopping i don't know what i'm saying i'm not excusing it i'm just saying like i think 266 00:15:27,119 --> 00:15:31,359 don't know he plays those games he speaks to different audiences for different things yeah 267 00:15:31,359 --> 00:15:37,999 exactly sure all right let's move on to the next one here all right revolutes lightning integration 268 00:15:38,559 --> 00:15:44,239 revolute announced lightning network support via light spark for its millions of users can 269 00:15:44,239 --> 00:15:50,399 this fintech giants move finally ignite consumer bitcoin payments no i don't think this is a big 270 00:15:50,399 --> 00:15:55,839 deal at all i don't think it's gonna like ignite lightning or consumer payments i think this could 271 00:15:55,839 --> 00:16:01,599 be some sort of uh big development and this is not guaranteed to actually happen uh but i think this 272 00:16:01,599 --> 00:16:06,079 is a real partnership from what i looked into yeah yeah uh these are big companies in terms of 273 00:16:06,079 --> 00:16:11,199 revolute they have about 55 million users across the world i think this is good um i think that's 274 00:16:11,199 --> 00:16:18,159 great i mean this is like any time a big fintech platform sure integrates lightning or in this 275 00:16:18,159 --> 00:16:25,279 case like spark yeah which spark is spark is cool and it actually moves it's actually moving legit 276 00:16:25,279 --> 00:16:26,619 Bitcoin. It's not 277 00:16:26,619 --> 00:16:29,259 plugging in. I think it's battle-tested over a Coinbase, 278 00:16:29,339 --> 00:16:31,019 I believe. I don't know about that. 279 00:16:31,019 --> 00:16:32,479 I think Coinbase is implemented. 280 00:16:32,919 --> 00:16:35,079 From what I read in this article. But I don't think this 281 00:16:35,079 --> 00:16:37,039 ignites consumer 282 00:16:37,039 --> 00:16:38,719 payments. It's not a... No, I don't think so. 283 00:16:38,719 --> 00:16:40,279 It doesn't flip the switch. 284 00:16:41,239 --> 00:16:43,119 And I think the real problem 285 00:16:43,119 --> 00:16:44,979 there is that they're dealing with 286 00:16:44,979 --> 00:16:46,939 European regulations. They're dealing with Mika 287 00:16:46,939 --> 00:16:49,019 or Mika, however they pronounce it. 288 00:16:49,119 --> 00:16:50,739 Yeah, which has shaped this company a lot. 289 00:16:50,859 --> 00:16:53,039 This company's only been around about 10 years, and they're already 290 00:16:53,039 --> 00:16:55,239 a $75 billion privately held 291 00:16:55,279 --> 00:17:00,939 company in europe yeah yeah uh but they are shaped a lot by the regulatory uh framework yeah yeah and 292 00:17:00,939 --> 00:17:07,059 that's in flux and in development and trying to you know so this isn't going to roll out quickly 293 00:17:07,059 --> 00:17:10,879 but the fact that they're committing to rolling this out and that they are going to make this 294 00:17:10,879 --> 00:17:16,399 happen that's like the cash app of europe right i mean yeah it's like the paypal of europe yeah 295 00:17:16,399 --> 00:17:20,459 they're competing with these major companies so that's that's great they've announced this deal 296 00:17:20,459 --> 00:17:24,919 in may they touched upon it recently in november we we don't know when it's going to come out it 297 00:17:24,919 --> 00:17:27,359 could be a test case or trial run here in December, 298 00:17:27,359 --> 00:17:28,759 or it could be sometime in Q1. 299 00:17:29,379 --> 00:17:30,659 But it would be great to see. 300 00:17:30,799 --> 00:17:32,159 I don't think it's a game changer. 301 00:17:32,159 --> 00:17:36,899 It is a end run to the end zone before the EU kills. 302 00:17:37,799 --> 00:17:40,419 Well, I also don't think this is not all about Bitcoin. 303 00:17:40,679 --> 00:17:41,039 There's a lot. 304 00:17:41,119 --> 00:17:41,799 No, I understand. 305 00:17:41,819 --> 00:17:43,199 It's about crypto and stable coins. 306 00:17:43,259 --> 00:17:43,719 Yeah, yeah, yeah. 307 00:17:43,739 --> 00:17:45,239 All right, let's move on to the next one here. 308 00:17:51,059 --> 00:17:54,279 I think we have a clip from Farida Nambarima. 309 00:17:54,919 --> 00:18:03,739 where is uh okay the african bitcoin conference kicks off the fourth edition in uh africa as 310 00:18:03,739 --> 00:18:10,499 africa's bitcoin community gathers in africa i can't see december 3rd to 5th under the leadership 311 00:18:10,499 --> 00:18:16,259 of togo activist farida nabarima many attendees are calling it one of the highest signal events 312 00:18:16,259 --> 00:18:20,719 on the global bitcoin calendar how might this summit shape the narrative around financial 313 00:18:20,719 --> 00:18:26,399 sovereignty and decentralized infrastructure across the continent well i mean if this oh 314 00:18:26,399 --> 00:18:34,719 we're gonna play a clip no okay if this summit just reflects what's happening in africa then it 315 00:18:35,359 --> 00:18:40,319 it says a lot about sovereignty and bitcoin adoption i just had a conversation last week 316 00:18:40,319 --> 00:18:48,079 it'll be on our by federal podcast here uh coming coming shortly with stafford mossy from africa 317 00:18:48,079 --> 00:18:52,479 Bitcoin Corporation, which is the first Bitcoin treasury company that's really developing in Africa. 318 00:18:52,479 --> 00:19:02,639 And when you hear the stories he tells about the adoption, the amount of real life commerce that's 319 00:19:02,639 --> 00:19:10,919 taking place with sats, it's so exciting. Africa has just said, you know what? Bitcoin volatility 320 00:19:10,919 --> 00:19:14,479 is nothing compared to 3% daily inflation. 321 00:19:15,019 --> 00:19:18,099 Like 20% drop in bicker, we don't care. 322 00:19:18,519 --> 00:19:19,839 We're going to use Sats. 323 00:19:20,359 --> 00:19:22,319 And they come from a culture where, 324 00:19:22,659 --> 00:19:26,159 I guess a very large percentage of their economy, 325 00:19:26,559 --> 00:19:28,679 like larger than the, 326 00:19:29,219 --> 00:19:32,659 I guess the cash economy is like much, much bigger 327 00:19:32,659 --> 00:19:35,659 than the so-called banked or legitimate economy. 328 00:19:36,099 --> 00:19:38,519 So they come from a culture of banking themselves 329 00:19:38,519 --> 00:19:45,399 where you had somebody in your community that was the human ATM, that was the human bank account, 330 00:19:45,519 --> 00:19:53,839 that was your lender. And so they very much have that trust and peer-to-peer system built. 331 00:19:53,979 --> 00:20:01,759 And now they have a digital format that goes straight to your phone. And they're adopting it 332 00:20:01,759 --> 00:20:08,239 at a massive pace. I mean, it's so exciting. I think what's happening in Africa. 333 00:20:08,239 --> 00:20:16,459 What do you think is going to have a bigger impact on Africa than sort of the storing of value and whatever sats they're able to acquire and keep? 334 00:20:16,679 --> 00:20:24,599 Or is it going to be more using Bitcoin as payment rails and not so much the fees that are saved, but connecting Africans with the rest of the world as entrepreneurs? 335 00:20:25,219 --> 00:20:26,159 It's all the above. 336 00:20:26,359 --> 00:20:29,399 But it's starting in this part of the world, right? 337 00:20:29,419 --> 00:20:31,159 It's starting as medium of exchange. 338 00:20:31,159 --> 00:20:39,979 But that medium exchange, because it's not devaluing, because it's not inflating away to dust, now they have savings. 339 00:20:40,759 --> 00:20:52,979 Now they're able to fund future growth and future projections and grow their businesses, pursue passions, start things that they never fathomed that they could start. 340 00:20:52,979 --> 00:21:00,799 So starting there with MOE and moving to store value, we're obviously in the West where we have a banking system that works. 341 00:21:00,799 --> 00:21:06,079 We have payments and credit cards and everything that works is starting a store of value and moving to MOE. 342 00:21:06,899 --> 00:21:08,439 But it's, I don't know, man. 343 00:21:08,499 --> 00:21:12,039 What's happening in Africa when you start hearing these stories is really cool. 344 00:21:12,359 --> 00:21:12,639 Awesome. 345 00:21:12,939 --> 00:21:13,219 All right. 346 00:21:13,359 --> 00:21:13,759 I'm stoked. 347 00:21:14,479 --> 00:21:15,459 Hit like and subscribe. 348 00:21:15,859 --> 00:21:17,999 This is Bitcoin Center brought to you by Byte Federal. 349 00:21:18,119 --> 00:21:18,859 Go bank yourself. 350 00:21:18,999 --> 00:21:20,159 Let's head over to the lightning round. 351 00:21:20,159 --> 00:21:20,759 All right. 352 00:21:20,759 --> 00:21:34,719 so this is a cool little battle going on here stock exchanges versus crypto tokenization 353 00:21:34,719 --> 00:21:41,819 global stock exchanges nyse nasdaq etc have warned regulators not to let crypto platforms 354 00:21:41,819 --> 00:21:49,099 bypass regulatory principles by tokenizing stocks is this pushback a savvy defense of investor 355 00:21:49,099 --> 00:21:55,619 protection or entrenched finance resisting legitimate blockchain innovation inequities? 356 00:21:56,199 --> 00:22:01,839 I think it's actually a legitimate pushback. I mean, if these regulations are needed, 357 00:22:02,659 --> 00:22:10,079 I think, you know, I don't see what's needed. Every tokenized stock has already registered with 358 00:22:10,079 --> 00:22:16,979 the SEC, gone through all the proper filings to register their stock on a stock exchange. 359 00:22:16,979 --> 00:22:20,039 So they're already legitimate reporting corporations. 360 00:22:20,619 --> 00:22:21,679 So everything just... 361 00:22:21,679 --> 00:22:23,479 So now it's just the SEC. 362 00:22:24,179 --> 00:22:26,259 Because if it's just lift and shift, I'm with you then. 363 00:22:26,319 --> 00:22:27,419 Then this is just bullshit. 364 00:22:28,159 --> 00:22:29,599 Well, it's lift and shift. 365 00:22:29,799 --> 00:22:32,739 And the global stock exchanges are pissed off. 366 00:22:33,079 --> 00:22:36,079 They're pissed off because there's other entities. 367 00:22:36,079 --> 00:22:37,639 Other custodians and there's other players now. 368 00:22:37,819 --> 00:22:39,319 There's no custodian because it's blockchain. 369 00:22:39,339 --> 00:22:40,099 That's what I'm saying. 370 00:22:40,319 --> 00:22:41,199 So how... 371 00:22:41,199 --> 00:22:41,479 Right? 372 00:22:41,579 --> 00:22:42,299 This is awesome. 373 00:22:42,799 --> 00:22:43,939 You think this is awesome? 374 00:22:43,999 --> 00:22:44,639 I think this is great. 375 00:22:44,639 --> 00:22:45,419 I think it's inevitable. 376 00:22:45,419 --> 00:22:52,859 I don't see how anyone's going to be, how consumers are going to be safe in this environment. 377 00:22:53,099 --> 00:22:55,859 You've got the SEC, and then you've got broker-dealers. 378 00:22:56,479 --> 00:22:57,419 You've got the... 379 00:22:58,019 --> 00:22:59,659 And this is all trust me, bro, though. 380 00:22:59,859 --> 00:23:01,939 Like, hey, we have the stocks that we have on a token. 381 00:23:02,659 --> 00:23:05,959 You cannot register security without going through the SEC. 382 00:23:07,919 --> 00:23:10,679 I was on the assumption this would be like existing securities. 383 00:23:10,819 --> 00:23:10,979 Right. 384 00:23:11,299 --> 00:23:12,019 That's what I'm saying. 385 00:23:12,019 --> 00:23:12,659 That's what I'm saying. 386 00:23:12,779 --> 00:23:13,859 So they're already... 387 00:23:13,859 --> 00:23:15,119 All these individual stocks. 388 00:23:15,119 --> 00:23:18,759 talking about more the custodianship the sort of like that all goes away that's why they're 389 00:23:18,759 --> 00:23:23,939 panicking that's why they're pissed off yeah okay you and you think that there's there's gonna be 390 00:23:23,939 --> 00:23:32,139 no sort of rehypothecation or like um illegal like like we just because it's if it's a tokenized 391 00:23:32,139 --> 00:23:38,879 security and you can take self-custody changes you're gonna allow self-custody i have no idea 392 00:23:38,879 --> 00:23:44,399 but this is a crypt this is a token that you could i mean i have no idea that doesn't mean 393 00:23:44,399 --> 00:23:48,559 you get to have custody of it just because it's okay sure i don't know what the sec laws are going 394 00:23:48,559 --> 00:23:55,199 to be i don't know what they're they're uh going to approve right right but if they approve pure 395 00:23:55,199 --> 00:24:00,719 security tokenization if they get the green light because the securities the actual stocks are 396 00:24:00,719 --> 00:24:04,959 already registered with them they're already meeting all the criteria so 500 million micro 397 00:24:04,959 --> 00:24:10,479 strategy shares have been issued yeah okay and we tokenize some of those and we stick them at coin 398 00:24:10,479 --> 00:24:15,039 base and how do we know we don't have that into your we don't end up with 900 million shares when 399 00:24:15,999 --> 00:24:20,159 well they these mount like who's auditing across all the different platforms 400 00:24:21,519 --> 00:24:24,879 if you have some tokenized someone they would have to take some of their float and they'd have 401 00:24:24,879 --> 00:24:30,079 to tokenize it right but if you're going to question that if you're going to if you're going 402 00:24:30,079 --> 00:24:44,519 to measure not lead to dark pools and hold on a second if you going to measure the actual number of securities that are out in the world it much easier to measure those on a blockchain Wouldn they have to all be on the blockchain 403 00:24:45,359 --> 00:24:45,999 Well, that's what I mean. 404 00:24:46,119 --> 00:24:48,899 But all the fraudulent activity is happening off the blockchain. 405 00:24:49,499 --> 00:24:53,499 The blockchain is actually the better source of clarity because it can be audited. 406 00:24:54,219 --> 00:24:58,079 What's happening at the DTCC, what's happening with... 407 00:24:59,459 --> 00:25:02,359 Sort of like GameStop, you're saying, and sort of like the short selling. 408 00:25:02,359 --> 00:25:06,499 naked short selling, et cetera. These are all the creation of paper securities 409 00:25:06,499 --> 00:25:10,539 that don't really exist. That all happens because 410 00:25:10,539 --> 00:25:14,299 it's off-chain. So you move that to tokenization 411 00:25:14,299 --> 00:25:18,459 and of course these guys are going to panic because that's where they're making 412 00:25:18,459 --> 00:25:21,819 a bunch of money, is lending securities that don't exist. 413 00:25:22,199 --> 00:25:25,719 But I still think that we have to make sure that we don't issue 414 00:25:25,719 --> 00:25:28,439 more tokens than there are securities and more. 415 00:25:28,439 --> 00:25:32,379 Right. So that's up to the SEC, right? 416 00:25:33,419 --> 00:25:35,779 Well, I think that's where the exchanges are begging them to say, 417 00:25:35,839 --> 00:25:38,779 can you take a look at this and make sure they don't go run wild here? 418 00:25:39,259 --> 00:25:42,939 Well, the SEC hasn't done a real great job in the traditional markets. 419 00:25:43,359 --> 00:25:45,439 Yeah, no, they're not great at doing their job. 420 00:25:45,679 --> 00:25:47,339 So, I mean, you know, I mean, 421 00:25:47,419 --> 00:25:49,779 I think the legacy claims are saying at least do it. 422 00:25:49,779 --> 00:25:53,779 When I was working at Payne Weber in the first major financial crash that I went through, 423 00:25:54,259 --> 00:25:56,599 and Dole went through a bankruptcy, and they're like, 424 00:25:56,599 --> 00:25:59,179 oh, there's 30% more Dole shares in existence 425 00:25:59,179 --> 00:25:59,919 than we knew about. 426 00:26:00,819 --> 00:26:04,959 So at least if it's tokenized and on a blockchain, 427 00:26:05,099 --> 00:26:05,739 we can audit it. 428 00:26:05,839 --> 00:26:06,859 Oh, after 9-11, 429 00:26:07,239 --> 00:26:11,279 I was in Bank of New York disaster recovery site. 430 00:26:11,839 --> 00:26:14,379 We had stacks, I think from the DTCC 431 00:26:14,379 --> 00:26:17,759 and then stacks from like the banks that made the trades. 432 00:26:18,219 --> 00:26:22,319 And we were just trying to match by hand piles. 433 00:26:22,319 --> 00:26:23,319 I mean, rooms full. 434 00:26:24,019 --> 00:26:24,959 Oh my God. 435 00:26:24,959 --> 00:26:26,659 of books. 436 00:26:26,759 --> 00:26:27,599 And we were just doing it by hand. 437 00:26:27,659 --> 00:26:29,439 30 shares here, 30 shares here. 438 00:26:29,599 --> 00:26:29,919 Okay. 439 00:26:30,479 --> 00:26:30,779 Yeah. 440 00:26:30,939 --> 00:26:31,219 Yeah. 441 00:26:31,439 --> 00:26:31,819 Wow. 442 00:26:31,899 --> 00:26:35,239 To reconcile after 9-11 and all the sort of pausing in the tape. 443 00:26:35,359 --> 00:26:35,479 Yeah. 444 00:26:35,519 --> 00:26:35,719 All right. 445 00:26:35,739 --> 00:26:36,719 Let's move on to the next one. 446 00:26:36,919 --> 00:26:37,359 It's going to be interesting. 447 00:26:38,079 --> 00:26:38,319 Okay. 448 00:26:38,439 --> 00:26:40,319 Cash apps lightning yield. 449 00:26:41,399 --> 00:26:45,319 Block disclosed that its lightning node operations are earning 9.7%. 450 00:26:45,319 --> 00:26:48,499 If corporate Bitcoin services are yielding high returns, 451 00:26:48,499 --> 00:26:52,179 is this a breakthrough sign or one off from optimized routing that won't last? 452 00:26:52,659 --> 00:26:54,079 No, I think this is really cool. 453 00:26:54,079 --> 00:26:57,799 And I mean, yes, it is related to optimized routing. 454 00:26:58,019 --> 00:26:58,179 Sure. 455 00:26:58,299 --> 00:27:02,219 It is related to the fact that they have giant nodes and they're running huge volume. 456 00:27:03,059 --> 00:27:07,779 But there are other companies out there getting high yields as well. 457 00:27:08,919 --> 00:27:13,179 Now, what, like, does this last is going to be interesting, right? 458 00:27:13,219 --> 00:27:15,899 How much does LightSpark, how much does Spark take over? 459 00:27:16,339 --> 00:27:19,339 How much of this starts to move to liquid? 460 00:27:19,699 --> 00:27:22,419 Like, you know, there's different, there's different. 461 00:27:22,419 --> 00:27:27,179 so I guess what I'm saying is I don't think these high of yields last. 462 00:27:27,399 --> 00:27:27,599 Yeah. 463 00:27:27,859 --> 00:27:28,919 But there will be a yield. 464 00:27:28,919 --> 00:27:29,599 Yeah, I agree. 465 00:27:29,599 --> 00:27:31,939 And will that be considered the risk-free rate? 466 00:27:32,599 --> 00:27:37,758 I mean, that's what we, as Bitcoiners, kind of anticipate that this is where this is going. 467 00:27:38,779 --> 00:27:42,939 But, I mean, it's a payment routing network, right? 468 00:27:43,639 --> 00:27:44,959 In this environment. 469 00:27:45,479 --> 00:27:47,159 It doesn't become a risk-free rate. 470 00:27:47,719 --> 00:27:47,919 Okay. 471 00:27:47,919 --> 00:27:51,159 What do you think the risk-free rate would be in this environment? 472 00:27:52,339 --> 00:27:53,419 In TRIFI, you mean? 473 00:27:53,819 --> 00:27:54,039 No. 474 00:27:54,519 --> 00:27:58,039 Let's say lightning usage just blossomed. 475 00:27:58,199 --> 00:27:58,459 Yeah. 476 00:27:59,159 --> 00:28:04,139 And there was enough liquidity to like, this is the new risk-free rate. 477 00:28:04,299 --> 00:28:05,959 Do you think it would be 7%, 8%? 478 00:28:06,079 --> 00:28:07,479 Anything would go down to like 2%, 3%. 479 00:28:07,479 --> 00:28:09,939 I have no idea where it's going to go down, but I know it would go down. 480 00:28:10,019 --> 00:28:10,459 It would go down. 481 00:28:10,479 --> 00:28:14,859 Because that high of a yield, if it's replicatable over time, will be pursued. 482 00:28:15,119 --> 00:28:17,859 But we are in a high interest rate environment. 483 00:28:17,919 --> 00:28:23,719 Yeah, but the interest rate, the SOFA rates, Fed rates have nothing to do with this. 484 00:28:23,959 --> 00:28:24,039 Right. 485 00:28:24,839 --> 00:28:27,439 Well, do you think they would be related at some point? 486 00:28:27,999 --> 00:28:31,639 Meaning like this would always come in lower or higher at some point? 487 00:28:31,758 --> 00:28:35,839 What would be the relationship over a long period of time at full? 488 00:28:36,099 --> 00:28:38,079 This is a pure volume game. 489 00:28:38,379 --> 00:28:39,639 These fees are super low. 490 00:28:40,919 --> 00:28:46,239 Like if I was Visa or MasterCard, I'd be going, oh, shit. 491 00:28:46,339 --> 00:28:47,039 Yeah, that's interesting. 492 00:28:47,039 --> 00:28:47,879 That's interesting. 493 00:28:47,919 --> 00:28:52,339 Right. So I don't know if this, you know, becomes the, the, you know, 494 00:28:52,419 --> 00:28:56,479 the love, the no risk rate or the, the, whatever you want to call it, 495 00:28:56,479 --> 00:29:00,139 but it is a really interesting business model. People, 496 00:29:00,319 --> 00:29:04,758 other companies will pursue that. And I think the fees will compress. 497 00:29:06,139 --> 00:29:10,679 And then once, you know, the world wakes up to payments over lightning, 498 00:29:10,679 --> 00:29:19,779 light spark and other l2s and the benefit and the low cost of that relative to visa mastercard i 499 00:29:19,779 --> 00:29:25,659 think they should be thinking about this all right let's move on to the next one here all right this 500 00:29:25,659 --> 00:29:32,379 is interesting the smp downgraded tether the smp cut tether's transparency score to five which is 501 00:29:32,379 --> 00:29:38,419 their weakest right they go one is the best five is the worst over lack of reserve disclosure what 502 00:29:38,419 --> 00:29:43,939 you think i think this is part of the sort of the coordinated attack i mean this is absurd i mean 503 00:29:43,939 --> 00:29:51,939 if anything tether loaded up on bitcoin and gold and u.s treasuries uh so i yeah i i think this is 504 00:29:51,939 --> 00:29:57,379 just sort of more of the battle between the traditional system and tether yeah um so so 505 00:29:57,379 --> 00:30:05,779 look at there's there's an administration and a treasury that's saying we want stable coins to go 506 00:30:05,779 --> 00:30:16,899 global we want to sell treasuries via stable coins globally that means that the banks are going uh 507 00:30:16,899 --> 00:30:23,619 what's our purpose now right uh s p you should maybe do something about this yeah jp morgan 508 00:30:24,179 --> 00:30:29,619 and step in i mean we've seen this before right where we like when they downgrade the u.s debt 509 00:30:29,619 --> 00:30:33,679 that we've seen how off these rating agencies can be, right? 510 00:30:33,779 --> 00:30:38,499 Like you don't get downgraded until you're at the bottom of the great financial crisis, right? 511 00:30:38,919 --> 00:30:46,819 Like there's, it doesn't take too much time in TradFi to figure out that the rating agencies are a part of the game. 512 00:30:47,619 --> 00:30:48,099 Sure. 513 00:30:48,379 --> 00:30:51,999 So I just kind of chuckle at this. 514 00:30:52,399 --> 00:30:55,119 Yeah, I think it's a nothing burger, but I mean, Tether's trying to fight back. 515 00:30:55,179 --> 00:30:57,039 I wonder how much it actually affects their business. 516 00:30:57,039 --> 00:31:02,079 i would venture to say at this point not much but it's not how they're yourselves how much of their 517 00:31:02,079 --> 00:31:07,199 their standards offshore yeah do you think anybody offshore buying tether cares what the 518 00:31:07,199 --> 00:31:14,079 s p thinks no no yeah but i think institutionally this is not this is just like like you know don't 519 00:31:14,079 --> 00:31:19,199 worry b of a jp morgan you guys are going to be okay i got your back yeah i think it's a bunch of 520 00:31:19,199 --> 00:31:22,719 that yeah yeah we saw that in a great financial crisis all right let's go through this next one 521 00:31:22,719 --> 00:31:28,399 Bitcoin treasury stocks slump shares of companies hoarding Bitcoin. 522 00:31:29,099 --> 00:31:32,479 You know, for example, MSTR or Marathon have tumbled on the market dip. 523 00:31:33,019 --> 00:31:38,879 Is this a healthy de-risking of aggressive balance sheets or will we start seeing the big fish eating the small fish soon? 524 00:31:39,299 --> 00:31:41,199 Yeah, I do think we're going to see mergers. 525 00:31:41,699 --> 00:31:42,999 I think we're going to see acquisitions. 526 00:31:43,699 --> 00:31:52,319 But I think this is just the market sorting itself out and finding what's going to work and what's not going to work. 527 00:31:52,719 --> 00:31:57,639 finding out, you know, who's when the tide goes out, who's got shorts on and who doesn't. Right. 528 00:31:58,099 --> 00:32:03,039 So I think this is part of the process. Equities markets go through this all the time. Whenever 529 00:32:03,039 --> 00:32:09,679 you get a trend, something that really takes off and everybody chases it, you're going to get a 530 00:32:09,679 --> 00:32:14,799 consultant. We're going to see the same thing in AI, right? The AI, the AI boom and the, like, 531 00:32:14,799 --> 00:32:18,559 it's going to be trillions and trillions of dollars of AI transactions. Like they're not, 532 00:32:18,559 --> 00:32:20,839 Like that tide's going to go out on that too. 533 00:32:21,319 --> 00:32:23,319 And everyone's going to be like poo-pooing AI. 534 00:32:23,899 --> 00:32:26,819 And then two years after that, it'll be back. 535 00:32:27,419 --> 00:32:33,379 This is just the nature of markets where people can see the future faster than they can build the future. 536 00:32:33,999 --> 00:32:36,419 So yeah, we saw a future. 537 00:32:36,799 --> 00:32:37,939 It got extended. 538 00:32:38,258 --> 00:32:40,559 It's being sold and it'll get built again. 539 00:32:40,879 --> 00:32:44,319 So yeah, it's a more volatile asset than Bitcoin. 540 00:32:44,559 --> 00:32:45,179 Imagine that. 541 00:32:45,179 --> 00:32:54,559 Do you think that Bitcoin treasury companies were sort of diluting and causing a bear market this year by taking $10 for every $1 was bought? 542 00:32:54,758 --> 00:32:59,599 Or were they the support all year long propping up the price this year? 543 00:32:59,619 --> 00:33:00,059 That's a good point. 544 00:33:00,159 --> 00:33:07,719 How much money that flowed into treasury companies would have instead flowed directly into Bitcoin? 545 00:33:07,899 --> 00:33:08,039 Yeah. 546 00:33:09,119 --> 00:33:13,758 I mean, I don't know the answer to that, but I think it's a great question. 547 00:33:13,758 --> 00:33:17,159 because you go stick $100,000 in Bitcoin, 548 00:33:17,319 --> 00:33:20,019 it's directly impacting the price. 549 00:33:20,099 --> 00:33:22,139 You go stick $100,000 in strategy 550 00:33:22,139 --> 00:33:24,199 and you're getting a fraction of that Bitcoin. 551 00:33:24,699 --> 00:33:24,819 Yep. 552 00:33:25,238 --> 00:33:26,439 So that's a great point. 553 00:33:26,599 --> 00:33:28,299 Yeah, especially with the smaller companies 554 00:33:28,299 --> 00:33:31,159 if you're buying at 5, 10, 15, 20 MNAV. 555 00:33:31,479 --> 00:33:31,738 Right. 556 00:33:31,998 --> 00:33:33,519 And yeah, I mean, 557 00:33:33,579 --> 00:33:35,199 I think a lot of Bitcoin has got burned that way. 558 00:33:35,199 --> 00:33:37,039 Yeah, MetaPlanet burned a ton of capital 559 00:33:37,039 --> 00:33:38,659 that could have gone straight into Bitcoin. 560 00:33:38,998 --> 00:33:39,179 Yeah. 561 00:33:39,519 --> 00:33:40,379 Yeah, that's a good point. 562 00:33:40,579 --> 00:33:41,899 All right, moving on. 563 00:33:43,758 --> 00:33:51,599 coin shares pulls shitcoin etfs coin shares abruptly canceled its planned xrp soul and 564 00:33:51,599 --> 00:33:58,019 litecoin etfs on nasdaq does this retreat signal a pivot no they're not going to bitcoin only 565 00:33:58,019 --> 00:34:02,758 they're still going to come out with some wild stuff and some interesting hybrids uh some bitcoin 566 00:34:02,758 --> 00:34:07,899 and sort of like traditional uh assets merged together probably in etfs they got a whole slew 567 00:34:07,899 --> 00:34:12,939 of things coming for the next uh year yeah i think this was just a reaction to a lack of demand 568 00:34:12,939 --> 00:34:15,159 Yeah, they thought altcoin season was coming, 569 00:34:15,319 --> 00:34:18,119 and they were going to milk it and capitalize on it, 570 00:34:18,199 --> 00:34:21,258 and it was here for like a month and then evaporated. 571 00:34:21,919 --> 00:34:23,519 So they're going to pull it. 572 00:34:23,679 --> 00:34:25,619 They'll reintroduce it if they see an opportunity. 573 00:34:25,959 --> 00:34:27,959 Yeah, and I think there's a lot of risk there for them. 574 00:34:28,319 --> 00:34:29,499 Shitcoin are going to shitcoin. 575 00:34:29,758 --> 00:34:30,439 There we go. 576 00:34:31,079 --> 00:34:34,579 All right, so Venezuela crypto payments. 577 00:34:34,819 --> 00:34:37,359 Venezuela's retail sector predicts crypto will account 578 00:34:37,359 --> 00:34:41,339 for 10% of gross repurchases by 2026 amid hyperinflation. 579 00:34:41,339 --> 00:34:47,839 what does this mean for the future of bitcoin in venezuela i think that's a low estimate 580 00:34:47,839 --> 00:34:53,359 especially especially if the administration i think this is all stable them out yeah sure 581 00:34:53,359 --> 00:34:58,939 it's all stable i mean the vast majority is stable coins yeah but um i think if our administration 582 00:34:58,939 --> 00:35:03,379 has anything to say about it it'll probably be more like 50 of the grocery bill it just seems 583 00:35:03,379 --> 00:35:09,779 like we're seeding latin america in stable coins oh 100 yeah i mean this is where this is the new 584 00:35:09,779 --> 00:35:13,679 trading corridor for the United States, 585 00:35:14,258 --> 00:35:15,119 you're going to reshore. 586 00:35:15,599 --> 00:35:18,659 You're going to reshore to the Americas, 587 00:35:19,279 --> 00:35:20,619 not just America. 588 00:35:21,299 --> 00:35:23,699 And you're going to get their people 589 00:35:23,699 --> 00:35:26,059 to adopt the currency, which is happening, 590 00:35:26,258 --> 00:35:27,758 whether the government's like it or not. 591 00:35:28,079 --> 00:35:30,619 You're either going to be like the district manager 592 00:35:30,619 --> 00:35:34,479 of the US dollar stable coin in XYZ, 593 00:35:34,879 --> 00:35:36,359 Central South America, 594 00:35:36,359 --> 00:35:39,499 or you're going to be up for a battle. 595 00:35:39,779 --> 00:35:40,859 like we're seeing in Venezuela. 596 00:35:41,399 --> 00:35:41,599 Yeah. 597 00:35:41,859 --> 00:35:43,439 All right, let's go to Latin America here. 598 00:35:45,579 --> 00:35:46,599 This is a similar, 599 00:35:46,799 --> 00:35:48,959 but Latin America digital asset boom chain analysis 600 00:35:48,959 --> 00:35:52,679 found Latin America saw nearly 1.5 trillion 601 00:35:52,679 --> 00:35:58,159 in crypto volume July 22 through July 25, 602 00:35:59,379 --> 00:36:01,639 June 2025, sorry. 603 00:36:02,159 --> 00:36:04,659 Is Latin America quietly becoming Bitcoin's 604 00:36:04,659 --> 00:36:07,879 proven ground for parallel financial infrastructure? 605 00:36:07,879 --> 00:36:15,219 I think this is still all about stable coins, remittances, and dealing with inflation. 606 00:36:15,679 --> 00:36:16,619 I mean, what's interesting, right? 607 00:36:16,679 --> 00:36:21,359 Brazil, 90% of their crypto volume is stable coins. 608 00:36:21,359 --> 00:36:21,939 It's stable coins. 609 00:36:21,939 --> 00:36:23,719 So it's selling fiat. 610 00:36:23,719 --> 00:36:24,919 And over that period of time. 611 00:36:25,258 --> 00:36:27,699 It's selling their fiat to get a USDT. 612 00:36:28,199 --> 00:36:33,719 And over that period of time, out of the 1.5 trillion was 300 billion by Brazil. 613 00:36:33,819 --> 00:36:35,619 And 80%, 90% of that was stable coins. 614 00:36:35,619 --> 00:36:35,919 Yeah. 615 00:36:35,919 --> 00:36:43,639 and only like three and a half billion was right Salvador right so if you're 616 00:36:43,639 --> 00:36:48,339 going to be I mean if this is this is gonna be the new trading corridor the 617 00:36:48,339 --> 00:37:05,658 America corridor right we got we buying basic materials and and whatever the Argentina yeah from argentina so deal yeah we doing that we we we got el salvador housing our our tether criminals that we 618 00:37:05,658 --> 00:37:10,898 exporting we're trying to get venezuela to clean up their act so it looks to me like 619 00:37:10,898 --> 00:37:20,118 the administration is attacking the deep state through attacking cartels this is my tinfoil hat 620 00:37:20,118 --> 00:37:23,438 if you're sitting there in the world saying, 621 00:37:23,698 --> 00:37:25,618 how's the deep state getting all their money 622 00:37:25,618 --> 00:37:29,058 and there's a big chunk of it that's against America? 623 00:37:30,738 --> 00:37:32,438 Well, what are they doing? 624 00:37:32,518 --> 00:37:33,778 They're bringing in illegal immigrants. 625 00:37:33,878 --> 00:37:34,818 They're bringing in drugs. 626 00:37:34,998 --> 00:37:36,538 They're killing people with fentanyl. 627 00:37:36,538 --> 00:37:37,918 On and on and on. 628 00:37:38,618 --> 00:37:40,698 Let's take out the cartel, 629 00:37:40,798 --> 00:37:44,118 which is generating the revenue for the deep state. 630 00:37:45,038 --> 00:37:47,078 And by clearing that away, 631 00:37:47,078 --> 00:37:53,938 we can legitimize trade with the rest of right we're shifting from let's oppress 632 00:37:53,938 --> 00:37:59,618 latin america right to let's build up latin america and clean it up so that we can do business 633 00:37:59,618 --> 00:38:05,318 together because we can no longer do business with china and uh you know europe is dying so 634 00:38:05,318 --> 00:38:12,718 what are we going to do right yeah this is this seems to be the move that's interesting yeah and 635 00:38:12,718 --> 00:38:18,918 tether is based in el salvador yeah yeah so all right we'll see which is our first u.s dollar 636 00:38:18,918 --> 00:38:29,718 general manager right i agree all right uh rsi is this a capitulation or a trap 637 00:38:29,718 --> 00:38:37,998 bitcoin's rsi has plunged to 33 a multi-year low is this a textbook bear market uh bottom 638 00:38:37,998 --> 00:38:49,878 signal or another cunning bull trap uh i so price can still drop while the rsi strength while you're 639 00:38:49,878 --> 00:38:55,578 talking right it's it's diver it's called divergence right so when a momentum indicator 640 00:38:55,578 --> 00:39:03,018 like the rsi signals a very bearish trigger hits a very bearish trigger that puts a lot of people 641 00:39:03,018 --> 00:39:05,358 in a position where they're going to sell rallies. 642 00:39:06,658 --> 00:39:09,258 And so the price could still continue down 643 00:39:09,258 --> 00:39:11,078 while the RSI strengthened. 644 00:39:11,238 --> 00:39:14,418 So this isn't, I tend, I mean, is it the bottom? 645 00:39:14,538 --> 00:39:18,138 Could be, but my tendency would be to say no. 646 00:39:19,018 --> 00:39:21,098 More than likely, we're going to rally out of this 647 00:39:21,098 --> 00:39:23,018 and we're going to go test those bottoms again. 648 00:39:24,078 --> 00:39:26,318 But I don't see this as, 649 00:39:27,018 --> 00:39:28,258 and guys take this with a grain of salt 650 00:39:28,258 --> 00:39:31,018 because I'm a horrible trader, a horrible trader. 651 00:39:31,018 --> 00:39:38,278 so everything i'm saying here is a bunch of bs but i tend to feel like this is not going to be 652 00:39:38,278 --> 00:39:42,998 your normal bear market and i the reason i say that is because i think it's going to be based 653 00:39:42,998 --> 00:39:50,938 on how fast is liquidity re-injected into the system like you remember covid how fast liquidity 654 00:39:50,938 --> 00:39:56,958 hit the system and how we were all like whoa like we're in a bull market now when the world shut down 655 00:39:56,958 --> 00:40:04,258 it like that showed you that liquidity can change asset prices very very quickly and so 656 00:40:04,258 --> 00:40:12,038 when i look out into 2026 i see how much debt has to be refinanced i see the conflicts and wars that 657 00:40:12,038 --> 00:40:19,798 are building liquidity is going to be mad like it's going to be necessary for the trump administration 658 00:40:19,798 --> 00:40:25,258 to make it through the midterms yeah so i think like if you could tell me how fast liquidity was 659 00:40:25,258 --> 00:40:31,178 coming then i would be like able to tell you what i think the bear market's going to be over but i 660 00:40:31,178 --> 00:40:37,578 i don't see it being like a normal four-year cycle bear market no i i one i i don't really 661 00:40:37,578 --> 00:40:43,258 believe in cycles yeah i think it's been correlation but uh i i don't think we're in a bear market 662 00:40:43,258 --> 00:40:47,098 actually i mean i think we as much as we've been in a bear market i don't think that this is 663 00:40:47,098 --> 00:40:53,978 the beginning of a longer sort of uh crypto freeze here but ben workman wrote long leverage gets 664 00:40:53,978 --> 00:41:01,658 flushed from the binance exploit bitcoin is a 30 drawdown mstr fud amplifies banks banks start 665 00:41:01,658 --> 00:41:07,978 marketing structured bitcoin notes vanguard opens bitcoin etf access qtns qtns now i don't know if 666 00:41:07,978 --> 00:41:13,578 you believe in coincidence or not but wow what timing trade fi has yeah i mean on the day uh 667 00:41:13,578 --> 00:41:18,938 vanguard opened up sort of the etfs eight percent up right this is after sort of the jp morgan attack 668 00:41:18,938 --> 00:41:26,938 the s p attack on tether uh on on mstr uh on and on so yeah yeah all right let's move on to the next 669 00:41:26,938 --> 00:41:36,618 one the texas bitcoin reserve purchase texas made its first allocation from the new texas 670 00:41:36,618 --> 00:41:43,498 bitcoin reserve spending five million on black rocks ibit so i mean it's just bitcoin price 671 00:41:43,498 --> 00:41:48,698 exposure yeah it's not right i know there's no sovereignty here for texas in this it's a start 672 00:41:48,938 --> 00:41:53,778 I mean, I don't know how a state would hold Bitcoin in a sovereign manner, but this is not. 673 00:41:53,778 --> 00:42:00,578 How fast will these states turn if somebody's Bitcoin reserve gets confiscated through Ibit? 674 00:42:00,798 --> 00:42:01,138 Sure. 675 00:42:01,578 --> 00:42:02,438 I mean, I don't know. 676 00:42:02,678 --> 00:42:16,078 Like, well, how hard is it for, I can't think they're just so afraid of self-custody or maybe they don't administratively have to change a bunch of their documentation around their governance. 677 00:42:16,078 --> 00:42:22,058 if they buy ibit versus if they buy a commodity they have to self-custody maybe that has more to 678 00:42:22,058 --> 00:42:29,698 do with it but you know it's a start and um it's better than nothing and uh i'm glad to see that 679 00:42:29,698 --> 00:42:34,438 they're pushing in that direction i have mixed feelings about it but it's probably a net positive 680 00:42:34,438 --> 00:42:39,438 but uh it's not real bitcoin yeah 100 all right bitcoin etfs breakout of outflow spiral 681 00:42:39,438 --> 00:42:45,538 after hemorrhaging over 4.3 billion in four weeks u.s spot bitcoin etf saw their first 682 00:42:45,538 --> 00:42:53,418 net positive inflows since october is december going to be green well what's your guess december 683 00:42:53,418 --> 00:43:03,618 i'm gonna give it 60 chance of being green all right i'd go with 90 chance all right 684 00:43:03,618 --> 00:43:07,478 but i'm just a bullseye where we go all right i want to read another on the bitcoin ai 685 00:43:07,478 --> 00:43:15,098 from uh maryland hodl here in the end bitcoin has already won it will be the tool that enables 686 00:43:15,098 --> 00:43:19,898 the rise of the sovereign individual that battle is still years away but it's coming i could see it 687 00:43:19,898 --> 00:43:26,138 clearly now ultimately governments will eventually become automated via blockchain and ai reflecting 688 00:43:26,138 --> 00:43:31,658 for the first time the true will of the people bitcoin and ai ai are not separate stories they 689 00:43:31,658 --> 00:43:36,538 are chapters of the same narrative their convergence is by design it was always inevitable 690 00:43:37,178 --> 00:43:42,938 bitcoin will reintroduce truth into the fabric of society becoming the force function that drives a 691 00:43:42,938 --> 00:43:50,058 moral and ethical realignment ai will serve as the productive and scientific miracle that demonetizes 692 00:43:50,058 --> 00:43:56,778 nearly all forms of monetary value together they form a unified arc bitcoin as the anchor of truth 693 00:43:56,778 --> 00:44:04,218 ai as the engine of abundance let fiat minds play fiat games my message stack sats into cold storage 694 00:44:04,218 --> 00:44:09,018 and heat up some popcorn because things are about to get very interesting very interesting 695 00:44:09,018 --> 00:44:12,138 i agree with everything there if ai is decentralized 696 00:44:12,938 --> 00:44:13,878 Do you think it will be? 697 00:44:14,118 --> 00:44:14,598 I don't know. 698 00:44:14,678 --> 00:44:19,178 If it's not, I think AI becomes the Vatican Library of Knowledge. 699 00:44:20,158 --> 00:44:20,858 What does that mean? 700 00:44:21,758 --> 00:44:24,738 The Vatican Library has all these ancient books and ancient knowledge 701 00:44:24,738 --> 00:44:26,318 that nobody's ever been able to read. 702 00:44:26,918 --> 00:44:29,858 So it becomes this, like, we collect all the information, 703 00:44:29,998 --> 00:44:33,678 we know everything, and then we only unlock what we want you to know. 704 00:44:34,698 --> 00:44:36,078 And you could see that today, right? 705 00:44:36,078 --> 00:44:39,358 If you know a lot about a specific topic, 706 00:44:39,358 --> 00:44:46,178 and you talk to chat gpt about that topic you'll instantly realize that this thing is just pandering 707 00:44:46,178 --> 00:44:52,118 to me and you have to keep going no you're wrong you're wrong this is this and they go oh yeah and 708 00:44:52,118 --> 00:44:59,418 you were right that's very intelligent of you cedric to to point that out to me like so like 709 00:44:59,418 --> 00:45:06,158 what do you think that's designed like uh by a human to talk to humans a certain way or it picked 710 00:45:06,158 --> 00:45:08,878 it's designed because I mean, 711 00:45:09,318 --> 00:45:11,058 it's designed not to give you what you're looking for. 712 00:45:11,258 --> 00:45:16,078 It's either it can't discern the difference between a lie and truth or it's 713 00:45:16,078 --> 00:45:16,258 built. 714 00:45:16,338 --> 00:45:17,138 Cause I've seen that on, 715 00:45:17,198 --> 00:45:18,498 on Twitter where someone's like, 716 00:45:18,558 --> 00:45:18,958 no grok, 717 00:45:19,018 --> 00:45:19,678 that's wrong. 718 00:45:19,818 --> 00:45:20,018 Yeah. 719 00:45:20,118 --> 00:45:21,178 Look at that picture again. 720 00:45:21,178 --> 00:45:21,598 And it's like, 721 00:45:21,598 --> 00:45:24,678 thanks for going to talk to it about anything that you're really knowledgeable 722 00:45:24,678 --> 00:45:24,998 about. 723 00:45:25,038 --> 00:45:28,018 You'll find out that it's dumb as a box of rocks until you point it out. 724 00:45:28,018 --> 00:45:28,338 And then it goes, 725 00:45:28,618 --> 00:45:28,738 Oh, 726 00:45:28,738 --> 00:45:29,338 you're right. 727 00:45:29,738 --> 00:45:31,258 I thought a little bit more about that. 728 00:45:31,258 --> 00:45:31,378 And, 729 00:45:31,458 --> 00:45:32,198 and then it, 730 00:45:32,278 --> 00:45:33,338 but it panders to you. 731 00:45:34,018 --> 00:45:35,298 So if you're, 732 00:45:36,158 --> 00:45:40,058 not smarter about the conversation that you're having with it, 733 00:45:40,798 --> 00:45:43,098 it's real easy to think that you're being told the truth, 734 00:45:43,138 --> 00:45:44,158 but you have to assume that you're not. 735 00:45:44,158 --> 00:45:46,818 I think the idea is most people are going to get dumbed down by it 736 00:45:46,818 --> 00:45:49,938 and not think for themselves and take it all as sort of like... 737 00:45:49,938 --> 00:45:52,078 Well, and if you can trap all the... 738 00:45:52,078 --> 00:45:53,738 If you can get people to rely on it 739 00:45:53,738 --> 00:45:59,338 and you can aggregate all valuable information that's truthful 740 00:45:59,338 --> 00:46:05,338 and only spit out what the end user is willing to accept... 741 00:46:05,338 --> 00:46:07,678 Yeah, that's fucked up. 742 00:46:08,098 --> 00:46:22,798 But if it's decentralized and really smart people are building specific agents around specific topics to make sure that it really knows the truth about a specific topic. 743 00:46:23,458 --> 00:46:26,018 And those agents get decentralized. 744 00:46:26,778 --> 00:46:29,078 And then those agents start communicating to each other. 745 00:46:29,618 --> 00:46:31,318 Then truth will be spread. 746 00:46:31,918 --> 00:46:33,258 And it will be aligned with Bitcoin. 747 00:46:33,258 --> 00:46:37,958 but right now i kind of see it like the vatican library do you think these ai things are alive 748 00:46:37,958 --> 00:46:44,338 no no no it's a large language model it's not alive all right no some people think yeah no 749 00:46:44,338 --> 00:46:51,038 they're delusional all right do you think do you think or i'm delusional do you think that could be 750 00:46:51,038 --> 00:46:56,858 true like a potential to be like the most negative force in sort of human existence no i don't think 751 00:46:56,858 --> 00:47:01,618 uh i don't think that's the way the world works when things get really negative a good counter 752 00:47:01,618 --> 00:47:11,538 like a good and powerful version arises that will offset it it's i think that's just human nature 753 00:47:11,538 --> 00:47:20,098 good and evil black and white yin and yang well it's like we need the threat of an ai overlord 754 00:47:20,098 --> 00:47:27,338 to do the right thing otherwise we just kind of passively go yeah this is great right you need 755 00:47:27,338 --> 00:47:34,858 the threat of uh of you mentioned it pander too a failed financial system a failed financial system 756 00:47:34,858 --> 00:47:40,838 like they couldn't get banking their currencies like it had to get so bad that they just rapidly 757 00:47:40,838 --> 00:47:45,158 adopt bitcoin like that's the way humanity works that's why i always say nothing gets fixed until 758 00:47:45,158 --> 00:47:52,938 it's broken because if you really view the way humanity reacts to things it takes eminent threat 759 00:47:52,938 --> 00:47:55,638 to create action to offset it. 760 00:47:57,078 --> 00:48:01,118 So I mean, maybe we are going to have like, 761 00:48:01,598 --> 00:48:04,358 you know, we'll start with the AI overlord 762 00:48:04,358 --> 00:48:06,878 and all the oppression that that creates. 763 00:48:07,058 --> 00:48:09,718 And then people will steal the, you know, 764 00:48:09,798 --> 00:48:12,978 open and open source it and start creating the alternative. 765 00:48:15,118 --> 00:48:17,298 So I think in the end, it's a win, 766 00:48:17,578 --> 00:48:20,438 but it depends on where you're at in the cycle, right? 767 00:48:20,778 --> 00:48:21,058 Yeah. 768 00:48:21,058 --> 00:48:22,098 But I don't see them. 769 00:48:22,358 --> 00:48:23,438 I don't see AI and Bitcoin. 770 00:48:24,058 --> 00:48:25,978 I think AI will use Bitcoin, 771 00:48:26,078 --> 00:48:27,698 but I don't see them aligned for truth. 772 00:48:28,678 --> 00:48:29,358 Bitcoin, definitely. 773 00:48:30,618 --> 00:48:30,918 Nice. 774 00:48:31,378 --> 00:48:31,818 I hear you. 775 00:48:33,058 --> 00:48:33,398 All right. 776 00:48:33,698 --> 00:48:37,178 Well, Francis, do we have any comments or questions? 777 00:48:38,798 --> 00:48:39,818 Nothing tonight, boys. 778 00:48:40,618 --> 00:48:41,038 All right. 779 00:48:41,118 --> 00:48:41,558 Sounds good. 780 00:48:41,698 --> 00:48:42,878 Well, if you guys are enjoying the show, 781 00:48:42,918 --> 00:48:43,738 hit like and subscribe. 782 00:48:43,958 --> 00:48:45,858 We'll see you every Tuesday at 8 p.m. Eastern. 783 00:48:46,938 --> 00:48:49,458 This is Bitcoin Center brought to you by Byte Federal. 784 00:48:49,578 --> 00:48:50,298 Go bank yourself. 785 00:48:50,298 --> 00:48:54,038 if you got the point of sale hopefully what like the price of bitcoin goes back up so we can get 786 00:48:54,038 --> 00:48:59,858 the rv back or no we're staying in here all right i'm gonna do it up and uh stay in the swamp shed 787 00:48:59,858 --> 00:49:05,518 here the chicken coop all right thanks guys all right peace