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what's up good evening how are you buddy i'm pretty good so the world's getting a little

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heated these days yeah it seems more fun a little bit in some ways yeah my timeline seems a little

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bit i mean there's some really heavy shit going on right now but uh that we'll get into but i'm

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actually really enjoying the the ditty doc i'm i'm through episode one i haven't i heard about

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I haven't seen any of that.

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Dude, they're linking him to every murder on X.

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Well, you know, it's interesting.

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He seemed to...

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This is a documentary that 50 Cent made or something, right?

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Yeah.

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But no, there's a legit Emmy Award winning documentary filmmaker who directed it.

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It's not just a straight up hit piece.

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There's some things that are like...

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So she said just laughing all the way to the back.

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He's not really in it.

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Okay.

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Yeah, no, this is just like footage.

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They got footage from the videographer who Diddy hired in the weeks before he got indicted, I think, or went to jail.

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Like, he was still trying to get out of it.

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And he hired someone to kind of cover him.

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But they never paid.

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He never paid.

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So that guy turned to 50 Cent bought it.

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And I don't think they were like NDAs or enough strong-ups like that.

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So, I mean, obviously, 50 Cent has his, I mean, he's going after.

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a hit piece in a way from 50s point of view.

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But there's great filmmaking.

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Some of it is definitely like they're piecing things

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like an interview that maybe happened in 94.

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They're making it seem like it happened in 96.

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There are some instances like that that I've seen.

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But one instance is, so there's these themes.

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I mean, his dad, I don't know if you know,

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his dad was a gangster.

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He was sort of a big Harlem gangster

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and a sort of a hit that made like the back you know front pages of new york times on in central

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park west and i guess he left his mom a lot of money she or some money i mean it was still kind

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of in the hood but you know she drove a cadillac and things like this and they seem to protect it

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so some people have kind of said maybe he comes from a long line of informants

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um but you know so he he seems to like kind of go after his rivals or people he he's jealous of

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like their girls he tries to end their careers everyone who he started uptown records with is

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dead um heart attacks and things like that um heavy d i'll be sure heavy d is a call went into

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a coma i'll be sure andre harrell who he started the record label with but then so then like you

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know tupac a lot of linkage to tupac and biggie who he was very good friends with but no one no

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one was like hanging from a tree with an extension cord and a shotgun blast at the chest

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when people were taken out on the streets of vegas did you not get the reference no okay

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forget it moving along sorry but uh even like there's this clip of him and nipsey hustle

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who died and you know was murdered or it's you know uh but several weeks or a few days before

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that uh um nipsey's like clapping did i have no idea what the hell you're talking about i am

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well did he's like you better stop clapping and nipsey's like i'm gonna clap all night

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like, when Nipsey died.

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And then, I don't know.

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Anyway, I'm enjoying it immensely.

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Yeah, okay.

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I was talking more about, like,

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what's going down in Venezuela.

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The conversations around,

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I think Japan is saying something like

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it would be an existential threat to our sovereignty

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if China attacked Taiwan.

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You know, the Russia-Ukraine peace thing

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that's falling apart.

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It's like the world just seems to be devolving

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into like we need war somewhere we need more like we need more now but we we've kind of talked about

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that before where i mean war is a great way to spend money incur debt cover we're going to talk

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about we're going to we're going to cover it today people at home japan's interest rates are rising

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their bond markets starting to look really sketchy inflation is coming they're the most indebted

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country in the of the west as far as second most indebted second most indebted who's the first you

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you know? No, I don't. But it's like 200, they're approaching 220%.

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Yeah, it's massive. Massive. So I don't

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know. I think 2026 is going to be

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the year of conflict. Or is

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it the year of liquidity? Which is what I think a lot of people are sort of having hope.

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I think they go hand in hand. Sure. If you have conflict,

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it's the money printer goes on and necessitates more liquidity.

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yeah okay to be seen uh all right i want to i want to read a piece from uh

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did you hear about the bernstein report that came out so bernstein alliance bernstein in view of

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recent market correction we believe the bitcoin cycle has broken the four-year pattern cycle

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peaking every four years and is now in an elongated bull cycle with more sticky institutional buying

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offsetting any retail panic selling.

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I'm so glad that they explained it to me.

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Took the load off.

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Despite a 30% Bitcoin correction,

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we have seen less than 5% outflows via ETFs.

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We are moving our 2026 Bitcoin price target to $150,000,

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with the cycle potentially peaking in 2027 at $200,000.

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Our long-term 2033 Bitcoin price target remains $1 million.

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Cool.

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Yeah, Lance Bernstein is pretty big.

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I mean, important is sort of a stodgy institution.

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I know, but I mean, they never...

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I mean, all of these guys get stuff right all the time, so...

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Well, no, I mean...

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All right.

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Let's go. Start the show.

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Please hit like and subscribe.

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This is Bitcoin Center, live stream number 32.

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My name is Cedric Youngleman.

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I'm the smartass in the corner.

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Yeah, Paul Tarantino.

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Thank you so much for joining us.

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Let's get into it.

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Let's be real, right?

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Praising Telegram for launching a Bitcoin wallet?

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I've always felt like with Haley...

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Bitcoin, this digital currency that's out there,

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that people say, oh, it might be the next big thing.

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What do you think?

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I think it's rat poison.

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Bitcoin.

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You never heard of them a few weeks ago.

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Now everybody's talking about them.

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But is it a currency?

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I don't know.

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Or is it more like a stock?

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Or is it a tulip bowl?

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Or is it just stupid?

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To me, it smells like Ponzi scheme in the greater pool theory, right?

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You do like five minutes of freaking research.

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Well, thanks for coming to my set talk.

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Yes.

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Don't buy shit coins.

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Oh, man, I didn't get that wrong.

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All right.

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Bitcoin's recent rally.

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Do you agree?

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Is crypto finally dead?

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Go to the next one.

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Matter of fact, they're kind of in the Ethernet.

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What are they?

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Some rumors that it's a Japanese guy, but they know that he's a fake name.

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It was a pseudonym.

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You're literally putting real money onto a system that we don't even know who created it.

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It will come to a bad ending.

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Is this the most exciting bull run ever?

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Not for me.

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No, it's not.

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welcome to bitcoin center the fast-paced show where the debate is the story

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all right you're up let's get into it vanguard unlocks crypto etfs and allows their customers to

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yeah well let's do it like is this is this important is this notable so good dude do they

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do they understand the hypocrisy of being the largest passive investor supporter in the world

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and not allowing people to own crypto well they have a an ethos and a creed they do yeah and it's

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very conservative of not analyzing cash flow passive income investments their entire ethos is

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don't do anything except buy everything sure don't do any research all of american companies

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or all of mid cap or all of yeah right right so why not all digital assets i guess they finally

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100 they finally figured out that it's passive enough for them yeah i mean i guess so it's just

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It doesn't kick off income.

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There's no yield.

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I mean, it's like to make an entire industry out of not having an opinion,

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but then for the last decade they've had a horrible opinion of Bitcoin.

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Right, and gated up and excluded.

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Yeah, yeah, yeah.

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It's not a valid asset.

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Sure.

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I mean, I think they think they're acting in the best interest of their clients.

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But let's get past that.

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Yeah, but they're not supposed to do that.

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What does this say about now?

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Black Rock's obviously in the game.

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Yeah.

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What does it say about what?

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PNC Bank.

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I mean, I think it says that they've just finally capitulated.

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Sure.

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That's all it says.

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Well, it's good money in this.

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I mean, anybody who's wanted it is gone.

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What does it say to grandma and grandpa?

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They said, okay, Vanguard, I'll go open an account of Fidelity.

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I mean, what does it say to all the boomers at Vanguard who don't have money at Schwab,

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don't have money at Morgan Stanley?

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Yeah.

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I mean, they're probably not going to change their mind.

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Well, maybe they put it 100%.

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And I think this is good news for adoption for like 401ks and IRAs and things like that.

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The people that are on the Vanguard platform that finally can get exposure.

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Great.

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Price exposure.

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But you should have just gone and opened up an account somewhere else a long time ago and told them to go screw themselves.

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Yeah.

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Well, it's still super early, though.

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So even the people who are onboarding through ETFs at Vanguard now are early.

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I mean, only one.

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How much of the world do you think is into Bitcoin?

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One percent?

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I don't know.

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I mean, yeah, the rumors are like between one and three.

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Let's call it 2%.

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You go from 2% to 5% to 10%.

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I would err on the side of 1% because many people have multiple wallets.

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When you go from 1% to 10%, that's not just a 10x increase.

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I mean, it's a 10x increase in the amount of capital and people.

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All right, let's move on.

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Moving on.

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All right, sovereign funds by the dip.

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Larry Fink disclosed.

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We're seeing more and more legitimate long-only investors investing in it.

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There was an article about a foundation.

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Endowment just bought a lot of IBIT.

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But I can tell you there are a number of sovereign funds that are standing by.

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They're adding incrementally at 120, at 100.

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I know they bought more in the 80s.

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That's fine.

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And they're establishing a longer position.

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And you own it over years.

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This is not a trade.

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You own it for.

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I'm going to take the other side now.

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I mean, does this not make you think Bitcoin is not headed towards being captured?

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I mean, the new Klaus Schwab is...

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The Klaus Schwab of Bitcoin.

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You know, he's the head of the World Economic Forum.

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And sovereign wealth funds are scooping up Bitcoin.

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Is that just smart of them?

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Yes.

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Do they not fear it anymore?

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They just want exposure and they don't worry about sort of their local currencies.

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I mean, look, Wall Street is like a whole set of confirmation bias people.

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Like as soon as the head says, hey, guys, this is good.

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Everybody gets in line and says to their customers, hey, this is good.

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And then the customers tell their friends, this is good.

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and everybody gets in line and does what they're trying to do.

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Five years ago, I would have sent my friends a clip like this.

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If anyone at Goldman Sachs was like, Bitcoin is interesting,

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I would have been like, yo, you've got to see this.

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All my old Trout Five friends.

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I don't even try anymore.

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Right.

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But this is the kind of thing I'd be like,

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not that I think Larry Fink is awesome,

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but that I think he carries weight in that world

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and the confirmation bias they're looking for.

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And from that angle, how is this not more viral

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and sort of mainstream, traditional,

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you know, sort of current or new edgy mainstream.

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I don't know.

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Maybe we're the wrong people to ask, right?

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Maybe we're the wrong people to ask

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because we spent the last several years like anti.

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Wall Street.

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Wall Street.

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And so.

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Still are from a Bitcoin perspective.

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No, 100%.

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But so when this kind of news comes out,

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it's kind of like not that exciting to us.

247
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I don't know.

248
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Maybe the advisor at Morgan Stanley is jumping up and down in his chair right now because he gets to show this to his clients and he's all excited about it.

249
00:13:04,760 --> 00:13:05,180
I don't know.

250
00:13:05,580 --> 00:13:19,580
But it is becoming acceptable and it is becoming commonplace for the average Joe to think, okay, there's the devaluation of our currency and it's a debasement trade and I've got to get some exposure.

251
00:13:20,160 --> 00:13:20,840
Yeah, I agree.

252
00:13:21,300 --> 00:13:22,600
All right, let's move on to the next one here.

253
00:13:24,140 --> 00:13:31,520
Essentially, what Bitcoin is doing is taking excess energy, storing it into a new form.

254
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It's called currency.

255
00:13:33,440 --> 00:13:36,200
And you take that currency and you take it wherever you like.

256
00:13:36,960 --> 00:13:40,780
And so you took energy from one place and now you've transported it everywhere.

257
00:13:41,880 --> 00:13:43,840
Now, of course, that's just Bitcoin.

258
00:13:44,400 --> 00:13:58,390
Imagine a much more universal currency called intelligence using exactly all the same concept that you described You find places with excess energy

259
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Go put a data center there.

260
00:14:02,570 --> 00:14:04,170
Transfer that energy.

261
00:14:04,810 --> 00:14:06,990
Compress it into an artificial intelligence model.

262
00:14:07,850 --> 00:14:09,550
Take that model all over the place.

263
00:14:12,490 --> 00:14:14,970
How much do you think this is about

264
00:14:14,970 --> 00:14:17,410
him understanding Bitcoin

265
00:14:17,410 --> 00:14:21,190
versus AI and Bitcoin need each other

266
00:14:21,190 --> 00:14:23,750
from a data compute energy perspective.

267
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And there's an alignment sort of emerging here.

268
00:14:27,130 --> 00:14:30,190
I just took it as he was just trying to use

269
00:14:30,190 --> 00:14:32,070
the Bitcoin analogy to explain

270
00:14:32,070 --> 00:14:34,670
how they would be delivering intelligence

271
00:14:34,670 --> 00:14:36,610
from server farms off grid.

272
00:14:38,250 --> 00:14:41,930
Explain that to me like I'm a five-year-old Bitcoin podcaster.

273
00:14:42,530 --> 00:14:44,530
So like, you know, Bitcoin has made

274
00:14:44,530 --> 00:14:48,130
trapped energy accessible.

275
00:14:48,530 --> 00:14:51,230
You could put a minus in the middle of nowhere.

276
00:14:51,390 --> 00:14:53,530
Right, where you can't sort of transfer it

277
00:14:53,530 --> 00:14:54,530
because you would lose too much.

278
00:14:54,670 --> 00:14:54,790
Right.

279
00:14:55,110 --> 00:14:57,110
You could build it before the civilization is there.

280
00:14:57,230 --> 00:14:57,550
Exactly.

281
00:14:57,810 --> 00:14:59,210
And I think what he's trying to do

282
00:14:59,210 --> 00:15:01,090
is trying to make that same analogy with AI.

283
00:15:01,550 --> 00:15:03,090
We could go find an energy source

284
00:15:03,090 --> 00:15:04,070
in the middle of nowhere,

285
00:15:04,250 --> 00:15:05,170
build a server farm,

286
00:15:05,370 --> 00:15:06,570
upload intelligence,

287
00:15:07,510 --> 00:15:08,410
power intelligence

288
00:15:08,410 --> 00:15:10,370
that then can get delivered to the world, right?

289
00:15:10,430 --> 00:15:11,910
Be a satellite and whatever.

290
00:15:11,910 --> 00:15:14,650
I think that's the analogy he's trying to make.

291
00:15:15,890 --> 00:15:23,970
The negative take or the tinfoil hat take is that he discovered Bitcoin and now he wants to create an AI coin.

292
00:15:24,230 --> 00:15:25,730
And I didn't take that.

293
00:15:25,850 --> 00:15:27,530
I didn't get that for three years ago.

294
00:15:27,930 --> 00:15:30,690
We couldn't stop hearing about how Bitcoin used too much energy.

295
00:15:31,110 --> 00:15:34,430
No one's complaining about the AI use of energy.

296
00:15:34,710 --> 00:15:39,410
He's now talking about how Bitcoin and AI are similar around stranded energy.

297
00:15:39,410 --> 00:15:45,530
he's not afraid to go near bitcoin from an energy perspective yeah i think that's a huge turning

298
00:15:45,530 --> 00:15:50,310
point that's a good point i don't trust that guy uh more further than i could throw him yeah sure

299
00:15:50,310 --> 00:15:54,430
i don't think he has a very clean background but very interesting statement and sort of uh

300
00:15:54,430 --> 00:15:58,170
the convergence survey on bitcoin all right let's get into our special guest

301
00:15:58,170 --> 00:16:06,570
no it's pce but he jumped ahead oh we are okay we're going special guest

302
00:16:07,410 --> 00:16:07,710
Yay.

303
00:16:08,390 --> 00:16:10,430
We got Jesse Tavlos with us.

304
00:16:11,370 --> 00:16:12,410
We got Kevin Kelly.

305
00:16:14,790 --> 00:16:16,430
Can you guys hear us or me?

306
00:16:16,550 --> 00:16:17,330
Yeah, we got you.

307
00:16:18,110 --> 00:16:18,890
Oh, fantastic.

308
00:16:19,230 --> 00:16:24,110
First time I've done this, I was trying to talk to you offline there, but I think I'm doing it okay.

309
00:16:24,230 --> 00:16:25,670
So how's everybody doing?

310
00:16:26,450 --> 00:16:26,850
Very good.

311
00:16:27,690 --> 00:16:28,510
Oh, thank you.

312
00:16:28,510 --> 00:16:28,690
Doing great.

313
00:16:29,490 --> 00:16:30,490
Yeah, we're doing okay.

314
00:16:30,490 --> 00:16:32,090
How about you guys?

315
00:16:32,750 --> 00:16:33,030
Good.

316
00:16:33,090 --> 00:16:34,270
I'm running away from my kids.

317
00:16:34,350 --> 00:16:34,830
I apologize.

318
00:16:36,570 --> 00:16:43,290
they're gonna find you so i just posted i just reposted this so hopefully it's on uh it's on x

319
00:16:43,290 --> 00:16:47,970
but uh but yeah guys it's been a crazy 48 hours with this stuff but what's up punch how are you

320
00:16:47,970 --> 00:16:54,990
feeling man crazy times good buddy doing good doing good so i didn't want to get into this

321
00:16:54,990 --> 00:17:01,470
guys it's a little bit complicated but no i guess i just i wanted to find out uh from from you guys

322
00:17:01,470 --> 00:17:08,510
what your sense of the situation is um is there are there is there any traction from the

323
00:17:08,510 --> 00:17:13,870
administration is there any thoughts that that there's an actual pardon on the horizon or

324
00:17:14,910 --> 00:17:21,710
do you think this is still far out well you know we're about 72 hours into this thing uh you know

325
00:17:21,710 --> 00:17:29,710
i was tangentially aware of it um jesse set up an interview with uh keone on friday night i just

326
00:17:29,710 --> 00:17:34,190
kind of sauntered into it and then the more I heard the more outraged I became of just what a

327
00:17:34,190 --> 00:17:41,550
travesty of justice this is. So look we're kind of we've been on spaces we've been amplifying it

328
00:17:41,550 --> 00:17:45,310
a lot of people had a lot of questions they didn't know what exactly happened did those

329
00:17:45,310 --> 00:17:51,310
guys really do anything wrong. Bottom line is the Southern District of New York which is

330
00:17:51,870 --> 00:17:57,070
has got a dubious reputation particularly as it relates to President Trump who we're seeking the

331
00:17:57,070 --> 00:18:03,830
the pardon from. Basically just ignored black letter law and railroaded these guys in the most

332
00:18:03,830 --> 00:18:09,930
overt way possible to send a message to the Bitcoin community. We've only just really gotten

333
00:18:09,930 --> 00:18:15,430
into it, but he's going to report from jail in 10 days or less than 10 days, but right before

334
00:18:15,430 --> 00:18:20,030
Christmas. And they're going to put him in prison with the maximum sentence that they pleaded to,

335
00:18:20,330 --> 00:18:24,030
but only because they starved them of the ability to defend themselves.

336
00:18:24,030 --> 00:18:28,570
all kinds of process and Brady violations and all kinds of other stuff we can get into.

337
00:18:28,810 --> 00:18:35,470
So we spent the first couple of days just trying to figure out what exactly they were,

338
00:18:35,550 --> 00:18:41,610
what exactly they were, were the nuances of what happened. People had questions. So getting through

339
00:18:41,610 --> 00:18:46,410
all that stuff, I sent it to Bo Hines. We'll see what he does, but he's probably afraid to lose his

340
00:18:46,410 --> 00:18:50,930
new job. Maybe, I don't know. But you really find out a lot about people when, you know, they're like,

341
00:18:50,930 --> 00:18:53,270
well, it's not me and I don't know the guy and whatever.

342
00:18:53,270 --> 00:18:56,130
And it just becomes a little bit disheartening,

343
00:18:56,230 --> 00:18:59,630
but I'm seeing it amplified on X and on social media.

344
00:19:00,030 --> 00:19:02,030
And I think that if we can get some traction

345
00:19:02,030 --> 00:19:04,250
to penetrate the president's inner circle,

346
00:19:04,450 --> 00:19:08,410
this is a no brainer for him just on the merits of it,

347
00:19:08,510 --> 00:19:11,630
but because these are the same people who went after him

348
00:19:11,630 --> 00:19:13,610
and as an ancillary benefit,

349
00:19:13,830 --> 00:19:15,970
it'd be really nice to get the whole Bitcoin community

350
00:19:15,970 --> 00:19:18,510
back behind him, in my opinion.

351
00:19:19,130 --> 00:19:20,310
That sounds hopeful.

352
00:19:20,310 --> 00:19:22,430
I hope you're accurate there.

353
00:19:22,850 --> 00:19:24,250
Well, I've dug into this.

354
00:19:24,450 --> 00:19:26,110
To me, he's a political prisoner.

355
00:19:27,730 --> 00:19:31,030
Do you guys want to break down how this ended up in New York?

356
00:19:31,530 --> 00:19:35,070
I mean, New York, the SDNY, which sort of has.

357
00:19:35,630 --> 00:19:38,310
Well, it never had any business being there.

358
00:19:38,410 --> 00:19:39,170
It never had any business.

359
00:19:39,230 --> 00:19:39,510
Right.

360
00:19:40,890 --> 00:19:42,750
But there's a clear reason.

361
00:19:42,750 --> 00:19:45,350
And it's because of the judges that they have put in place there.

362
00:19:45,370 --> 00:19:49,450
And there's some interesting nuances to the story to where at one point they literally,

363
00:19:49,450 --> 00:19:55,670
you know, he's, he's about to essentially, um, go argue for some motions to be dropped because

364
00:19:55,670 --> 00:20:01,490
of really good evidence. Like, uh, uh, puncher just said, Kevin just said here, um, they had a

365
00:20:01,490 --> 00:20:06,650
Brady, uh, they had a Brady, uh, order. I think it's called, um, what is it? What is it punch?

366
00:20:06,650 --> 00:20:14,230
Brady? Um, it's a Brady violation. They basically had exculpatory, they had exculpatory evidence

367
00:20:14,230 --> 00:20:19,370
when they talked to Fincen, who was the regulating body as to whether or not these guys violated a

368
00:20:19,370 --> 00:20:21,530
FinCEN law. FinCEN

369
00:20:21,530 --> 00:20:23,390
said, no, they never took custody

370
00:20:23,390 --> 00:20:25,090
of the funds, so they're in the clear.

371
00:20:25,430 --> 00:20:26,810
And they buried that.

372
00:20:27,150 --> 00:20:29,190
And they continued to prosecute them anyway.

373
00:20:29,730 --> 00:20:31,170
So they buried the evidence

374
00:20:31,170 --> 00:20:32,670
that was exculpatory,

375
00:20:33,030 --> 00:20:35,270
and they just didn't care. They were going to get their man

376
00:20:35,270 --> 00:20:37,410
no matter what, and I think that tells

377
00:20:37,410 --> 00:20:39,530
you they were acting on the orders of whoever,

378
00:20:39,750 --> 00:20:41,750
but there was a

379
00:20:41,750 --> 00:20:43,490
foregone conclusion that this was going to

380
00:20:43,490 --> 00:20:45,390
happen, and evidence

381
00:20:45,390 --> 00:20:45,870
be damned.

382
00:20:46,710 --> 00:20:48,630
I think Brady wrote the letter

383
00:20:48,630 --> 00:20:53,290
that Operation Chokehold 2.0 was over

384
00:20:53,290 --> 00:20:57,290
and DOJ should not go after Bitcoin innovators,

385
00:20:57,610 --> 00:20:59,310
software programmers, coders.

386
00:21:00,450 --> 00:21:02,590
And SDNY, which has a nickname

387
00:21:02,590 --> 00:21:04,030
the Sovereign District of New York,

388
00:21:04,050 --> 00:21:04,970
because they do whatever they want.

389
00:21:05,110 --> 00:21:07,830
They went after Trump on the banking issue

390
00:21:07,830 --> 00:21:08,730
and sort of the mortgages.

391
00:21:08,810 --> 00:21:10,290
They also went after Ross Ulbricht

392
00:21:10,290 --> 00:21:12,650
and had no business being in New York.

393
00:21:13,730 --> 00:21:14,750
Ross didn't live in New York.

394
00:21:15,530 --> 00:21:17,010
He was in San Francisco when he was arrested.

395
00:21:17,190 --> 00:21:18,350
He's from Southwest.

396
00:21:18,630 --> 00:21:24,710
same here same here yeah that was that was the case with uh keone where he's like i don't

397
00:21:24,710 --> 00:21:28,830
understand because i haven't even set foot in new york and so right so it's clearly from their end

398
00:21:28,830 --> 00:21:34,790
strategically to go from that sdny put someone put a fed an fbi agent on the street of streets

399
00:21:34,790 --> 00:21:41,230
of new york downloaded the app that's their jurisdictional claim now a new yorker could

400
00:21:41,230 --> 00:21:45,890
be affected by this right so then back to what they brought up with fincent right fincent came

401
00:21:45,890 --> 00:21:52,690
out letters in i think 2013 and 2015 or 2015 2017 clearly stating if you're not taking custody of

402
00:21:52,690 --> 00:21:57,730
the money you're not a money transmitter right right yeah you're you can't do money laundering

403
00:21:57,730 --> 00:22:03,410
if you don't have the money right so it's not like they broke laws they did not break laws

404
00:22:04,530 --> 00:22:10,850
then they got dragged into new york the judge was changed what somewhere during the trial or

405
00:22:10,850 --> 00:22:15,490
Well, it was days, but it was, I think importantly,

406
00:22:16,010 --> 00:22:17,730
this is not importantly,

407
00:22:18,130 --> 00:22:20,930
because I've been listening to Keone on all the interviews and I'm learning

408
00:22:20,930 --> 00:22:22,990
more and more every time I listened to another one,

409
00:22:23,050 --> 00:22:26,570
it happened right before they were about to bring those,

410
00:22:26,570 --> 00:22:29,470
those things to the judge. And then exactly.

411
00:22:29,610 --> 00:22:32,390
Then they dropped it, changed it to this much harsher judge.

412
00:22:32,950 --> 00:22:36,370
They brought in the hanging judge last minute, who's 80 years old,

413
00:22:36,410 --> 00:22:36,730
by the way,

414
00:22:36,730 --> 00:22:43,370
And then that judge basically just said, no, we're just dismissing everything.

415
00:22:43,610 --> 00:22:45,410
We're just including what Finn said.

416
00:22:45,550 --> 00:22:48,550
A government agency said these guys are good.

417
00:22:48,750 --> 00:22:49,670
We looked into it.

418
00:22:49,830 --> 00:22:50,950
They're not doing anything fishy.

419
00:22:51,150 --> 00:22:53,350
We are the agency that you go to to ask.

420
00:22:53,350 --> 00:22:54,950
We're confirming they're good.

421
00:22:54,950 --> 00:22:57,870
And they said, no worries.

422
00:22:57,990 --> 00:22:59,750
We're going to continue on with the indictment.

423
00:23:00,050 --> 00:23:02,630
And we're going to go for the full maximum.

424
00:23:03,070 --> 00:23:05,730
And we're going to pull up to the guy's house with guns.

425
00:23:05,730 --> 00:23:29,510
I mean, it's the whole story is we raided his house. We raid your house. It's off of shitpost tweets. That's their evidence. There's no actual this is important. There is no actual crime. And even to this day, Keone has not admitted to a crime. What he did is he agreed to a plea bargain in which he agrees to the fact of conspiring, which means he could have had intent.

426
00:23:29,510 --> 00:23:35,590
maybe, maybe not in knowing that someone could have used his software in a bad way.

427
00:23:35,770 --> 00:23:41,010
That's like saying anybody who goes and uses Google, who does it in a bad way,

428
00:23:41,210 --> 00:23:46,050
if I go use Google and I search for something and that's illegal and then I go carry out a crime,

429
00:23:46,350 --> 00:23:52,010
that they're going to go after the leaders of Google and they're going to go take the founders of Google and put them in jail.

430
00:23:52,270 --> 00:23:54,290
That's what they're saying they're doing now.

431
00:23:54,290 --> 00:24:03,830
And the letter from the Trump administration is, well, we'd rather go after the criminals, the people who are using the service for no good, not the people who are using it for privacy.

432
00:24:04,110 --> 00:24:06,430
And they've gone after nobody.

433
00:24:07,550 --> 00:24:12,730
$2 billion went through or $2 billion worth of Bitcoin went through Samurai.

434
00:24:13,430 --> 00:24:20,650
They're alleging in their facts, the government, that 237 million of it was money laundered.

435
00:24:22,190 --> 00:24:23,470
That's just a false claim.

436
00:24:23,470 --> 00:24:27,390
And they have no evidence of it. And if they did, it would be part of the evidence.

437
00:24:28,090 --> 00:24:30,910
Yeah, there doesn't have to be evidence. They just say whatever they want to say.

438
00:24:31,030 --> 00:24:36,290
In this case, they just said all of the money that's going through there, we're just now going to classify as bad.

439
00:24:36,410 --> 00:24:38,710
It's just bad now because we can't track it.

440
00:24:38,710 --> 00:24:44,230
So now, therefore, they're conflating privacy with bad behavior or illegal behavior.

441
00:24:44,390 --> 00:24:48,530
There is no there's nothing legally wrong with privacy.

442
00:24:48,690 --> 00:24:51,770
Privacy is a human right, as is property. Right.

443
00:24:51,770 --> 00:24:58,830
And we talked about this puncher in terms of like, you know, they're basically attacking basic human rights by attacking this this guy.

444
00:24:59,050 --> 00:24:59,930
It's pretty young.

445
00:25:00,330 --> 00:25:04,070
I mean, we kind of know that with KYC, AML.

446
00:25:04,530 --> 00:25:08,130
Anytime you do a bank transfer over $10,000, you put on a suspicious list.

447
00:25:09,690 --> 00:25:11,430
But this this goes beyond.

448
00:25:12,370 --> 00:25:12,850
Absolutely.

449
00:25:13,310 --> 00:25:15,010
So they saw the judge was changed.

450
00:25:15,110 --> 00:25:19,830
And this judge has a record of going really hard and maximum sentencing.

451
00:25:19,830 --> 00:25:26,690
so they were facing 25 year sentences with the government said we're going to put 237 million

452
00:25:26,690 --> 00:25:34,210
on your backs that when you get out you can't do anything until that's repaid your your life is

453
00:25:34,210 --> 00:25:38,990
over well it's it's look keone is a soldier man i mean you want to be in a foxhole with this guy

454
00:25:38,990 --> 00:25:46,670
first of all his partner uh bill is older so you know if they had gone to court and trial which

455
00:25:46,670 --> 00:25:50,010
they couldn't done because they squeezed them out of any ability to defend themselves.

456
00:25:50,390 --> 00:25:54,490
But he would have died in prison for sure. He would have gotten out when he's 92 years old.

457
00:25:55,270 --> 00:26:02,970
Secondarily, they seized the assets or encumbered the assets of his entire family. He wasn't allowed,

458
00:26:03,130 --> 00:26:06,890
he did have Bitcoin, but he couldn't defend himself with his Bitcoin because he wasn't allowed to

459
00:26:06,890 --> 00:26:12,170
have anything to do with cryptocurrency, trade it, use it, anything. So they choked him off

460
00:26:12,170 --> 00:26:16,010
because they didn't have a case. They wanted to arrive at a preordained conclusion. And at the

461
00:26:16,010 --> 00:26:22,530
end of the day um kioni just did it you know he took the bullet for his family and uh his partner

462
00:26:22,530 --> 00:26:31,070
but it's it's uh it's the it's just the very definition of uh injustice the government as

463
00:26:31,070 --> 00:26:35,770
part of the plea deal said we'll cut it down to six million which was all the fees samurai

464
00:26:35,770 --> 00:26:41,650
collected over 10 years it was not like this was a very uh lucrative business yeah they were keeping

465
00:26:41,650 --> 00:26:48,050
the lights on is what they were doing whatever bitcoin they seized sdny they already sold

466
00:26:49,570 --> 00:26:56,050
against the sbr which is keep all the confiscated bitcoin so i mean we that's a rabbit hole there but

467
00:26:57,010 --> 00:27:06,210
so yeah you guys gone rogue um i mean this is uh i mean people i don't know if people are really

468
00:27:06,210 --> 00:27:12,130
seeing reading between the lines but this is absolutely a war between two different factions

469
00:27:12,130 --> 00:27:18,930
within our government and he's stuck in the middle oh yeah but here's the other thing like they are

470
00:27:18,930 --> 00:27:22,450
they are disregarding president trump's order whether he's aware of it or not but just

471
00:27:23,490 --> 00:27:27,970
look we're confident that if we can penetrate that kind of bubble that donald trump is in

472
00:27:28,530 --> 00:27:35,010
and he finds out what happened and he's got an opportunity to a stop these guys from disobeying

473
00:27:35,010 --> 00:27:40,090
his direct order and stick it back to them who tried to literally put him in jail for

474
00:27:40,090 --> 00:27:52,960
life under Trump dump charges Look and they going to go after him Look if they lose in 2026 they going to need bitcoiners in the 2026 election because they going to go after him and after he gets out they go after

475
00:27:52,960 --> 00:27:57,200
him and his family and his businesses and everything else so for every reason in the world

476
00:27:57,200 --> 00:28:01,560
president trump has the opportunity to do the right thing not only for himself but he's got

477
00:28:01,560 --> 00:28:06,500
the ancillary benefit or not only for keone and justice but he's got the ancillary benefit of it

478
00:28:06,500 --> 00:28:10,220
being good for him personally, I think. That's a great point, Punter, great point.

479
00:28:11,460 --> 00:28:17,800
What also is interesting about this, this was at the district level. So even if they didn't plea,

480
00:28:18,160 --> 00:28:22,640
this wouldn't be a precedent. That's at the appellate level. That's after an appeal

481
00:28:22,640 --> 00:28:28,980
at this level. So this isn't even a persuasive argument because they didn't win the case against

482
00:28:28,980 --> 00:28:34,860
them. So they just pled out. So, you know, other than sort of the political persecution that we all

483
00:28:34,860 --> 00:28:40,480
know that software coders could go to jail for these kinds of things without the precedent i'm

484
00:28:40,480 --> 00:28:46,820
surprised the government i thought they would rather have the precedent no plea you sort of

485
00:28:46,820 --> 00:28:50,580
get the space of argument and then take it to the appeals the way they're doing with tornado but

486
00:28:50,580 --> 00:28:56,240
that's the roman strong that's that's the point the precedent's not a legal precedent the precedent

487
00:28:56,240 --> 00:29:02,840
is if you try this we will get you come hell or high water despite any fact pattern the precedent

488
00:29:02,840 --> 00:29:06,080
is this heavy-handed we're going to come after you and we're going to get you because we don't

489
00:29:06,080 --> 00:29:10,440
need to play by the rules we're going to choke you out we're going to starve you out we're going

490
00:29:10,440 --> 00:29:17,540
to ruin you and um you know even if you do plea we're going to give you the maximum so the message

491
00:29:17,540 --> 00:29:22,520
is loud and clear and it's just uh it's it's judicial tyranny these people these are the

492
00:29:22,520 --> 00:29:29,320
criminals actually the sdmy they are the criminals 100 yeah it doesn't feel like we have a legal

493
00:29:29,320 --> 00:29:37,400
justice system. There's no justice. It's the opposite at this point to where they make it,

494
00:29:37,900 --> 00:29:42,600
they write the story ahead of time, right? The story is already written. It doesn't matter. And

495
00:29:42,600 --> 00:29:47,040
that was kind of the, I don't know, Puncher for me when talking to Keone, that's the moment when

496
00:29:47,040 --> 00:29:53,460
you realize that he had no choice from the very beginning. And so, you know, here we are, but to

497
00:29:53,460 --> 00:29:57,420
Puncher's point, I just want to go back to it for a second. I think President Trump has an opportunity

498
00:29:57,420 --> 00:30:03,060
here to actually make a statement. And, you know, none of us really know what's going on behind the

499
00:30:03,060 --> 00:30:08,100
scenes there. We do have some connection lines. And I do think we are going to get it in front

500
00:30:08,100 --> 00:30:14,460
of him. And he's probably already aware of it, I believe. But the question is, can we, this is a

501
00:30:14,460 --> 00:30:18,460
real person's life and it's life. And it's not just him, it's him, it's his partner, Bill,

502
00:30:18,960 --> 00:30:23,400
both about to go to jail for, you know, five years, starting in a couple days here.

503
00:30:23,400 --> 00:30:28,860
um and so yeah i just appreciate you guys but continue any questions you might have we've kind

504
00:30:28,860 --> 00:30:33,920
of been locked in on on it but um yeah he ended up having he was forced he was coerced into the

505
00:30:33,920 --> 00:30:38,300
plea bargain that's basically what that boils down to that part of the story is he had no choice

506
00:30:38,300 --> 00:30:45,620
he was facing 25 years they had him on his uh his wife's property his his uh father's property they

507
00:30:45,620 --> 00:30:51,260
went after his family i mean he was strange he was he was being strangled and it was either that

508
00:30:51,260 --> 00:30:54,760
and he knew he was going to lose. He knew if it went to trial, they were going to give him the

509
00:30:54,760 --> 00:30:59,380
max because of the judge, because they switched this judge very, very strategically right at that

510
00:30:59,380 --> 00:31:06,020
moment, dropped everything, said no discussion. Here we go. And said, either go to trial and good

511
00:31:06,020 --> 00:31:11,620
luck. 25 freaking years. Are you kidding me? You know, there's no way he's going to take that.

512
00:31:11,740 --> 00:31:17,440
And so here we are at the five-year plea bargain. Yeah. The insight for him was all pre-trial

513
00:31:17,440 --> 00:31:23,420
motions, which cost him a ton, were just denied it. They were not responded to. Typically,

514
00:31:23,520 --> 00:31:27,540
a judge will get a pretrial motion. They'll either accept or reject it, and then they'll

515
00:31:27,540 --> 00:31:31,680
write an opinion as to why. She didn't even bother to write an opinion. She just rejected it outright.

516
00:31:32,200 --> 00:31:37,460
That's what he knew. Yeah. One of the motions they inquired about was the exculpatory evidence.

517
00:31:37,460 --> 00:31:43,780
So there's six months into trial or review here, proceedings, and the government's supposed to

518
00:31:43,780 --> 00:31:46,700
hand over everything. You don't even know what they might have. You don't know what you don't

519
00:31:46,700 --> 00:31:48,540
How would you ask and give them a list?

520
00:31:48,820 --> 00:31:49,060
Correct.

521
00:31:49,500 --> 00:31:53,840
They're even supposed to give you stuff that would sort of make you appear innocent.

522
00:31:54,600 --> 00:31:54,840
Correct.

523
00:31:55,520 --> 00:31:58,500
That's felonious activity by that.

524
00:31:58,860 --> 00:31:59,700
That's a felony.

525
00:32:00,420 --> 00:32:03,260
Yeah, by law, they must.

526
00:32:03,800 --> 00:32:03,900
Right.

527
00:32:04,440 --> 00:32:05,980
Just think about it logically.

528
00:32:06,140 --> 00:32:09,660
If we have a true justice system, then what are we trying to achieve?

529
00:32:09,720 --> 00:32:10,200
The truth.

530
00:32:10,300 --> 00:32:11,480
We're trying to get to the truth.

531
00:32:11,480 --> 00:32:12,520
So it doesn't matter.

532
00:32:12,740 --> 00:32:14,860
It's not supposed to matter what side you're on.

533
00:32:14,860 --> 00:32:22,260
And this is what I'm talking about, where we've gotten to this place of lawfare that is absolute ridiculousness because it's not predicated on truth.

534
00:32:22,420 --> 00:32:26,880
It's about winning or losing. And that is not the purpose of justice, ladies and gentlemen.

535
00:32:27,280 --> 00:32:36,340
So that's kind of the crux of this entire issue is that we have a case here with no evidence, with basically exculpatory evidence to the contrary, that they're innocent.

536
00:32:36,340 --> 00:32:46,440
We have we basically have the most evidence we have, the most hard evidence and probably strongest evidence of this case is in favor of their innocence.

537
00:32:48,060 --> 00:32:56,640
They reached out to the government six months in and said, do you have any conversations with FinCEN about us?

538
00:32:57,240 --> 00:33:00,780
That's who would regulate us. And they were like, oh, yeah, here you go.

539
00:33:01,480 --> 00:33:05,600
And it was the conversations about FinCEN being like, no, it's all good.

540
00:33:05,600 --> 00:33:07,820
Like, we don't think that they're breaking any laws.

541
00:33:08,060 --> 00:33:12,360
The laws that we would opine on, we would sort of make the accusation.

542
00:33:12,580 --> 00:33:13,160
They would be break.

543
00:33:13,300 --> 00:33:15,000
We are the ones who issue the license.

544
00:33:16,000 --> 00:33:18,900
And it was because the new judge was like, I don't want to even talk about that.

545
00:33:19,880 --> 00:33:21,080
That's not important to me.

546
00:33:21,360 --> 00:33:23,320
And they wanted to refer to other cases.

547
00:33:23,720 --> 00:33:26,800
And that that instance and the judge just I don't want to hear about it.

548
00:33:26,860 --> 00:33:27,860
But let's get into it.

549
00:33:27,860 --> 00:33:45,020
Yeah, there's also a litany of precedents, legal precedents in their favor that they, when they had their pretrial motions and that they disregarded. But hey, I want to say something, guys, a lot of Bitcoin influencers are building a brand and I get it.

550
00:33:45,020 --> 00:33:53,520
Like, you know, they don't want to go out on a limb and maybe jeopardize that brand because they're not quite sure of all the fact pattern in the case.

551
00:33:53,560 --> 00:33:54,900
And maybe they're backing the wrong guy.

552
00:33:55,000 --> 00:34:01,600
First of all, Keone is an unbelievable spokesperson for himself, for Samurai Wild, and for Bitcoin in general.

553
00:34:01,740 --> 00:34:03,220
The guy is just, he's an ace.

554
00:34:04,500 --> 00:34:06,580
So, you know, he can handle himself.

555
00:34:06,720 --> 00:34:08,040
He's a very articulate guy.

556
00:34:08,360 --> 00:34:12,760
But I just want to say thank you to guys like you, Lawrence Lepard, Jeff Booth reached out.

557
00:34:12,760 --> 00:34:16,360
I think Natalie Brunel is going to have them on, Eric Rice and others.

558
00:34:17,600 --> 00:34:21,260
You know, I see a lot of people kind of hiding a little bit, like they don't want to get

559
00:34:21,260 --> 00:34:22,200
dirtied up by this.

560
00:34:22,620 --> 00:34:26,660
But look, it's like living in the boat with the hope that the alligator eats you last,

561
00:34:26,740 --> 00:34:26,940
right?

562
00:34:27,480 --> 00:34:31,720
I mean, if they come for you, you'd probably like to know that the Bitcoin community, and

563
00:34:31,720 --> 00:34:36,200
I hear a lot of talk about Bitcoin community and freedom and privacy and people on stage

564
00:34:36,200 --> 00:34:37,720
at the Vegas conference and all that.

565
00:34:37,880 --> 00:34:39,340
Like, spare me your bullshit.

566
00:34:39,340 --> 00:34:44,300
this is the time where you got to step up and protect one of our own or just get up there and

567
00:34:44,300 --> 00:34:48,420
talk about number go up and don't don't let's not slander our intelligence to that degree

568
00:34:48,420 --> 00:34:53,480
because you're full of shit but i appreciate you guys you did step up so i really appreciate it

569
00:34:53,480 --> 00:35:03,200
for our audience what can people do to help keone at this point well look we're a network right uh

570
00:35:03,200 --> 00:35:08,000
first of all there's a there's a there's a um petition a petition going around please sign the

571
00:35:08,000 --> 00:35:13,680
petition uh you can give them some money don't um what's there's a there's some money to help

572
00:35:13,680 --> 00:35:18,620
these guys out out there we'll put the link somewhere it's not really directly though just

573
00:35:18,620 --> 00:35:23,880
to be clear they can't accept it that's right they can't accept it right now so that's correct uh

574
00:35:23,880 --> 00:35:32,360
said but look rack your brain like imagine it was somebody you knew and loved you'd go to the ends

575
00:35:32,360 --> 00:35:39,160
of the earth for them, just because it's a stranger. Look, he's one of us. So you have

576
00:35:39,160 --> 00:35:42,560
networks, you have the ability, and I want to break out of the Bitcoin bubble, right?

577
00:35:42,960 --> 00:35:47,420
A lot of people follow politics on Twitter. A lot of people know people, just make them aware.

578
00:35:47,960 --> 00:35:51,960
And let's just amplify this thing to such a degree that at least it penetrates the bubble

579
00:35:51,960 --> 00:35:58,200
of Donald Trump, hopefully before he spends a second in jail. And, you know, I think we can do

580
00:35:58,200 --> 00:36:04,360
I mean, we're a big army. And if everybody does just one little thing, I have no doubt that he'll

581
00:36:04,360 --> 00:36:10,040
be standing on the stage in Vegas talking about what happened to him. And he'll be a guy who's

582
00:36:10,040 --> 00:36:17,320
talking about freedom and standing up. I mean, I'm remembering of our founding fathers. We all

583
00:36:17,320 --> 00:36:21,000
kind of take things for granted. When those guys signed the Declaration of Independence,

584
00:36:21,000 --> 00:36:26,200
these were guys of light and learning and wealth. They put everything on the line for a principle.

585
00:36:26,880 --> 00:36:29,580
It can't just be lip service or we're all full of shit.

586
00:36:29,980 --> 00:36:30,960
This is the opportunity.

587
00:36:31,160 --> 00:36:34,220
And I can tell you, he was been on for hours.

588
00:36:34,780 --> 00:36:37,220
I said, anybody who's got any beef with these guys,

589
00:36:37,540 --> 00:36:38,540
because you know you're in business,

590
00:36:38,640 --> 00:36:40,400
you might have a beef with somebody from way back when

591
00:36:40,400 --> 00:36:43,160
or the coding guys get a little less Eric here and there,

592
00:36:43,680 --> 00:36:46,500
whatever, bring it now or forever hold your peace.

593
00:36:46,500 --> 00:36:49,120
And Keone stood there and took all comers

594
00:36:49,120 --> 00:36:50,260
and answered every question.

595
00:36:50,700 --> 00:36:53,100
I am thoroughly confident that if you get behind Keone,

596
00:36:53,200 --> 00:36:54,140
you will not be embarrassed.

597
00:36:54,620 --> 00:36:56,180
You're on the right side of history.

598
00:36:56,200 --> 00:36:57,920
and we can get this done.

599
00:36:58,020 --> 00:36:58,520
Thanks, guys.

600
00:36:59,540 --> 00:37:00,100
Thank you.

601
00:37:00,320 --> 00:37:02,080
This is like Ross Albrecht 2.0.

602
00:37:02,220 --> 00:37:03,360
This is so clear cut.

603
00:37:03,580 --> 00:37:05,200
If he spends a night in jail,

604
00:37:05,300 --> 00:37:06,700
like we've failed,

605
00:37:06,840 --> 00:37:08,120
we have to get through to President Trump.

606
00:37:08,760 --> 00:37:10,020
And then every day if he's in jail,

607
00:37:10,020 --> 00:37:11,020
this is really bad.

608
00:37:11,140 --> 00:37:13,400
We're not free citizens while he's in jail.

609
00:37:13,540 --> 00:37:16,380
You know, this doesn't really like affect

610
00:37:16,380 --> 00:37:18,080
or ruin Bitcoin in the sense that

611
00:37:18,080 --> 00:37:20,320
this is sort of the government side of things

612
00:37:20,320 --> 00:37:21,940
and like where you live

613
00:37:21,940 --> 00:37:23,520
and where you plant your feet

614
00:37:23,520 --> 00:37:24,700
and the laws you live under.

615
00:37:24,700 --> 00:37:31,200
this is a really big deal in attorney from from the rules that we work under um we cannot see that

616
00:37:31,200 --> 00:37:37,440
they've committed any crimes and from everything i've seen i don't it's not even as murky as uh

617
00:37:37,440 --> 00:37:40,520
ross's right that's what i was trying to get and i think there was so much more murkiness that

618
00:37:40,520 --> 00:37:45,140
again i don't think proved ross or made it sort of unclear that ross wasn't a political prisoner

619
00:37:45,140 --> 00:37:52,500
but that there was murder and intrigue and i mean this is very different but very clear cut and um

620
00:37:52,500 --> 00:37:58,980
this is this is really bad and as a bitcoin i i'd see like wow this is and it's another it's

621
00:37:58,980 --> 00:38:04,340
another sort of you know mark on the on the chalkboard or carving in the tree that shows

622
00:38:04,340 --> 00:38:09,380
you that this justice system has got some serious issues this is more important yeah i mean this is

623
00:38:10,100 --> 00:38:14,500
so and by the way it's an opportunity for us to put the word out there and let it be known you are

624
00:38:14,500 --> 00:38:18,980
we are not to be trifled with you want to mess with us you're going to pay a political price and

625
00:38:18,980 --> 00:38:21,220
we can fight back now.

626
00:38:21,380 --> 00:38:23,320
In the early days, when you guys were around,

627
00:38:24,020 --> 00:38:25,600
we were kind of like, just kind of

628
00:38:25,600 --> 00:38:27,240
fly roundabout way.

629
00:38:27,380 --> 00:38:29,000
Don't let anybody know what we're doing here.

630
00:38:29,260 --> 00:38:31,540
Not now. We're a political force to be reckoned with.

631
00:38:32,120 --> 00:38:33,660
And you can't do that

632
00:38:33,660 --> 00:38:35,620
to us or you're going to kick the hornet's nest.

633
00:38:36,400 --> 00:38:36,500
Yeah.

634
00:38:36,960 --> 00:38:39,360
And I think, I hope to speak with Keone tomorrow,

635
00:38:39,500 --> 00:38:41,500
but he's alluded

636
00:38:41,500 --> 00:38:42,680
that miners are next.

637
00:38:43,140 --> 00:38:44,280
There's a lot of similarities.

638
00:38:44,960 --> 00:38:46,940
And yeah, so this is

639
00:38:46,940 --> 00:38:51,580
this is the slippery slope this is a massive turning point thank you gentlemen yeah well

640
00:38:51,580 --> 00:38:57,660
the trumps are miners too don't forget that thanks guys yeah thank you but yeah yeah

641
00:39:02,300 --> 00:39:08,620
this is when you get the old fact lifts on the mining yeah 100 uh you know so i don't know about

642
00:39:08,620 --> 00:39:15,500
the trumping miners meetings that they could join those lists and be compliant uh that's not enough

643
00:39:15,500 --> 00:39:20,220
This is about principle and freedom of speech in every direction,

644
00:39:20,220 --> 00:39:23,960
from minors to non-custodial self-custody.

645
00:39:23,960 --> 00:39:25,220
It's really, really a bad test.

646
00:39:25,220 --> 00:39:27,580
To money-transmitting licenses in that battle.

647
00:39:27,880 --> 00:39:31,100
If we lose this as Bitcoiners, we've lost a ton.

648
00:39:31,100 --> 00:39:31,680
A lot in America.

649
00:39:32,400 --> 00:39:32,740
A lot.

650
00:39:32,920 --> 00:39:33,760
We've lost a ton.

651
00:39:34,380 --> 00:39:34,640
Yeah.

652
00:39:35,600 --> 00:39:36,740
My son codes.

653
00:39:37,740 --> 00:39:38,100
Right.

654
00:39:38,380 --> 00:39:39,940
All right, let's move on here.

655
00:39:40,100 --> 00:39:41,140
Let's get to the lightning round.

656
00:39:41,140 --> 00:39:52,820
it's a bitcoin center brought to you by bite federal let's get into it oh

657
00:39:52,820 --> 00:40:04,780
bitcoin mina 2025 um so sailor cz safedine and others at the uae does this mark the region's

658
00:40:04,780 --> 00:40:10,360
emergence as a serious Bitcoin center, pun intended, have you considered going?

659
00:40:10,980 --> 00:40:12,340
Yeah, they invited me this year.

660
00:40:14,060 --> 00:40:15,500
I considered it.

661
00:40:16,500 --> 00:40:18,960
I looked at sort of the plane fare and the hotels.

662
00:40:19,420 --> 00:40:20,240
Why are you here, man?

663
00:40:21,000 --> 00:40:21,920
I like it here.

664
00:40:22,700 --> 00:40:24,200
I don't have to get on a plane.

665
00:40:24,740 --> 00:40:25,180
It's wet.

666
00:40:25,580 --> 00:40:26,860
There's moisture here.

667
00:40:26,980 --> 00:40:29,520
But it looks more exciting than I thought it would be, to be honest.

668
00:40:29,520 --> 00:40:35,240
I see Michael Saylor walking around with cheeks talking about, you know, rolling out Bitcoin products and interest.

669
00:40:35,680 --> 00:40:37,960
Our Bifederal CTO is there.

670
00:40:38,520 --> 00:40:42,980
He spoke at Bitcoin for Corporations and has attended.

671
00:40:43,700 --> 00:40:45,940
You know, he's sending us like, watch this clip.

672
00:40:46,060 --> 00:40:46,580
Watch that.

673
00:40:46,700 --> 00:40:47,500
Watch Saylor this.

674
00:40:47,620 --> 00:40:48,080
Watch that.

675
00:40:48,600 --> 00:40:49,860
So it's all good.

676
00:40:51,740 --> 00:40:55,280
I mean, the Middle East is going to.

677
00:40:55,620 --> 00:40:56,440
They got energy.

678
00:40:56,820 --> 00:40:57,540
They're going to get money.

679
00:40:57,720 --> 00:40:58,500
They got Bitcoin.

680
00:40:58,500 --> 00:40:59,640
they're going to

681
00:40:59,640 --> 00:41:02,120
they got sovereignty

682
00:41:02,120 --> 00:41:04,480
they're going to be

683
00:41:04,480 --> 00:41:07,060
running the show in the Middle East

684
00:41:07,060 --> 00:41:11,220
it just seems like all things are pointing in that direction

685
00:41:11,220 --> 00:41:13,020
yeah

686
00:41:13,020 --> 00:41:14,560
especially if you're reading Simon Dixon

687
00:41:14,560 --> 00:41:17,140
lots of intriguing

688
00:41:17,140 --> 00:41:18,800
tweets, let's go to the next one here

689
00:41:18,800 --> 00:41:20,600
the CZ shift debate

690
00:41:20,600 --> 00:41:22,980
I have a nice box here

691
00:41:22,980 --> 00:41:23,820
what is that?

692
00:41:24,040 --> 00:41:25,920
I think it's Kirk

693
00:41:25,920 --> 00:41:28,180
Kyrgyz language.

694
00:41:28,180 --> 00:41:29,380
I took it back from Kyrgyzstan.

695
00:41:29,380 --> 00:41:31,340
He has a certificate.

696
00:41:31,340 --> 00:41:45,750
I got this from a very important person from Kyrgyzstan very recently just completely by luck So we take it out it pretty heavy Put this down

697
00:41:45,750 --> 00:41:54,750
You can see it says, Kyrgyzstan, 1,000 grams, fine gold, 99.9.9, and a serial number.

698
00:41:54,750 --> 00:41:56,750
Try it.

699
00:41:56,750 --> 00:41:57,750
Yes, yeah, it's heavy.

700
00:41:57,750 --> 00:41:59,750
Is it real gold or no?

701
00:41:59,750 --> 00:42:02,750
Well, I don't know. I mean, you know, I mean...

702
00:42:02,750 --> 00:42:04,170
Is this what you're trying to say?

703
00:42:04,370 --> 00:42:05,290
I mean...

704
00:42:05,290 --> 00:42:07,830
I love it.

705
00:42:08,290 --> 00:42:11,010
That was brilliant.

706
00:42:11,830 --> 00:42:12,250
That was great.

707
00:42:12,470 --> 00:42:13,430
That was so good.

708
00:42:13,890 --> 00:42:19,250
I mean, just drop the mic and leave the stage at that point.

709
00:42:19,750 --> 00:42:22,350
Did you hear about the dinner in El Salvador with Bukele?

710
00:42:22,850 --> 00:42:23,270
Mm-mm.

711
00:42:23,270 --> 00:42:25,270
So someone gives Bukele a sword.

712
00:42:25,490 --> 00:42:26,250
He's like, all right, cool.

713
00:42:26,350 --> 00:42:26,990
This is a nice gift.

714
00:42:27,130 --> 00:42:31,190
And then Giacomo gives him a bottle of rum, a dictator rum,

715
00:42:31,190 --> 00:42:37,430
like dictador or something like that and you know so and then uh someone said well he doesn't even

716
00:42:37,430 --> 00:42:42,270
drink and because i said that's okay i don't even play with swords that much you know but

717
00:42:42,270 --> 00:42:51,490
that's awesome all right so let's move on to the next one here all right yeah

718
00:42:51,490 --> 00:42:58,150
bank of america bank of america eyes btc allocations okay the bank of america now

719
00:42:58,150 --> 00:43:00,450
guiding wealth managers to hold up to 4%

720
00:43:00,450 --> 00:43:01,990
in Bitcoin as a hedge against fiat

721
00:43:01,990 --> 00:43:04,210
debasement, how much does this

722
00:43:04,210 --> 00:43:05,890
shift the mainstream conversation about

723
00:43:05,890 --> 00:43:07,670
BTC's role in traditional

724
00:43:07,670 --> 00:43:08,130
power?

725
00:43:08,850 --> 00:43:12,090
The conversation is shifting every

726
00:43:12,090 --> 00:43:14,270
week. Stablecoin

727
00:43:14,270 --> 00:43:16,510
deposits, stablecoin payments,

728
00:43:16,830 --> 00:43:18,210
crypto, and

729
00:43:18,210 --> 00:43:20,070
allocations.

730
00:43:20,070 --> 00:43:21,390
This is their idea now.

731
00:43:22,010 --> 00:43:23,210
Why not?

732
00:43:23,470 --> 00:43:25,970
Fiat's debasing, bro. You need

733
00:43:25,970 --> 00:43:28,010
some Bitcoin. That's like an SNL

734
00:43:28,010 --> 00:43:33,690
trade meme now it's just it's like really like it's it's right there with inflation is transitory

735
00:43:33,690 --> 00:43:39,690
it's just sort of accepted yeah it almost like defangs inflation yeah people just say hey man

736
00:43:39,690 --> 00:43:44,550
it's a good thing now yeah man just may do well with the trade bro the debasement trade the dollar

737
00:43:44,550 --> 00:43:50,250
so going down bro and and this is this is not about bitcoin though or even crypto this is about

738
00:43:50,250 --> 00:43:56,290
etfs still good job good bank for america i'm glad you're advising everybody that's amazing

739
00:43:56,570 --> 00:43:57,330
Keep up the good work.

740
00:43:57,690 --> 00:43:59,450
Well, you know, conversation is moving along.

741
00:43:59,530 --> 00:44:00,730
Let's move on to the next one here.

742
00:44:00,930 --> 00:44:02,830
Please like and subscribe if you're enjoying the show.

743
00:44:03,390 --> 00:44:05,270
It's a Bitcoin center brought to you by Byte Federal.

744
00:44:06,290 --> 00:44:06,950
All right.

745
00:44:07,070 --> 00:44:09,190
Here's, I mean, do you think this is a big deal?

746
00:44:09,270 --> 00:44:13,130
The Fed ends QT with $13 billion liquidity injection.

747
00:44:13,290 --> 00:44:16,130
I mean, my mouth's on the floor with how small that number is.

748
00:44:17,050 --> 00:44:19,190
I love it.

749
00:44:19,350 --> 00:44:20,190
What do you think?

750
00:44:20,190 --> 00:44:24,930
I mean, this is the central bank yo-yo, right?

751
00:44:24,930 --> 00:44:27,250
It's tightened until we need to loosen.

752
00:44:28,630 --> 00:44:28,890
I don't know.

753
00:44:29,010 --> 00:44:31,070
I don't think that's really meaningful development.

754
00:44:31,470 --> 00:44:32,510
No, it's exactly right.

755
00:44:32,710 --> 00:44:35,610
Like, I mean, what do you, like, okay.

756
00:44:36,650 --> 00:44:38,150
Let's move on to the next one.

757
00:44:38,970 --> 00:44:39,730
Good job, Joe.

758
00:44:41,150 --> 00:44:46,530
Sailor announces 1.44 billion dividend reserve.

759
00:44:47,030 --> 00:44:50,770
With MicroStrategy setting aside 1.44 billion in reserves

760
00:44:50,770 --> 00:44:54,190
that could be funded with future Bitcoin sales,

761
00:44:54,770 --> 00:45:01,230
How does this shift the conversation around corporate Bitcoin treasuries at a time when MSCI is even considering index removal?

762
00:45:02,130 --> 00:45:08,910
I think they're signing to signaling to Wall Street, signaling to traditional finance and the banking system.

763
00:45:08,910 --> 00:45:11,110
That's obviously, I think, a little nervous about them.

764
00:45:11,390 --> 00:45:11,550
Yeah.

765
00:45:11,710 --> 00:45:12,490
But they're growing up.

766
00:45:12,550 --> 00:45:13,170
They're maturing.

767
00:45:13,710 --> 00:45:14,730
They're conservative.

768
00:45:15,730 --> 00:45:16,530
They have a cushion.

769
00:45:16,830 --> 00:45:23,110
The irony that a lot of people point to is, you know, this all started with the $500 million melting ice cube.

770
00:45:23,470 --> 00:45:24,070
Mm-hmm.

771
00:45:24,190 --> 00:45:29,470
in uh point 20 yeah yeah and now they have triple that right well like he's he's gotta he's gotta

772
00:45:29,470 --> 00:45:35,710
pander to both parties right like in the early days it was all about gaining uh the the plebs

773
00:45:35,710 --> 00:45:45,390
support and now it's about maintaining market cap right so the 500 billion 500 million is on an 8

774
00:45:45,390 --> 00:45:51,950
billion market cap yeah the one and a half and he was a he was a little micro company and then he

775
00:45:51,950 --> 00:45:57,550
became a behemoth sure and now he's got uh bigger bosses to answer i think it's a smart move i think

776
00:45:57,550 --> 00:46:02,430
it's sort of calming the markets it feels like a bottom for strategy not financial advice yeah

777
00:46:04,270 --> 00:46:09,630
he's got to do what he's got to do he's he's got to please and this covers them this is 21 months

778
00:46:09,630 --> 00:46:15,630
of dividends they want to always have uh 24 months they want to work this up build this up to 24

779
00:46:15,630 --> 00:46:21,150
months one thing i thought about when i read this and this is all tinfoil hat stuff but he announced

780
00:46:21,150 --> 00:46:25,850
his Bitcoin-backed dollar potential in MENA.

781
00:46:26,890 --> 00:46:30,310
And I wonder if these reserves could play into that somehow.

782
00:46:30,310 --> 00:46:32,830
If he could actually use these reserves

783
00:46:32,830 --> 00:46:35,530
to create his next credit instrument.

784
00:46:36,970 --> 00:46:39,630
And I wonder if that's where this is going.

785
00:46:39,890 --> 00:46:41,470
Maybe I called the Bitcoin-backed dollar

786
00:46:41,470 --> 00:46:43,190
when I went on Byte Federal's show.

787
00:46:43,410 --> 00:46:44,250
I think so, dude.

788
00:46:44,250 --> 00:46:45,650
You've been talking about this for a while.

789
00:46:45,790 --> 00:46:46,590
I didn't see it coming.

790
00:46:46,830 --> 00:46:48,950
I now think, even in the United States,

791
00:46:48,950 --> 00:46:53,450
I think we're going to be on complete stable coins within 18 months in the United States banking system.

792
00:46:54,450 --> 00:46:54,650
Ooh.

793
00:46:55,210 --> 00:46:58,150
I think you will guarantee to have both in your account.

794
00:46:58,690 --> 00:46:59,250
You think so?

795
00:46:59,290 --> 00:47:00,090
Within 12 months.

796
00:47:00,090 --> 00:47:01,030
I think it depends on the bank.

797
00:47:01,030 --> 00:47:04,250
And I think 18 to 24 months, there won't be the other kind in your account.

798
00:47:04,430 --> 00:47:05,130
I think it depends on the bank.

799
00:47:05,130 --> 00:47:07,590
Let's say all speed, transparency, liquidity.

800
00:47:07,590 --> 00:47:09,010
I think there's going to be a lot of...

801
00:47:09,010 --> 00:47:12,150
Well, then there'll be a lot of banks that just don't transition.

802
00:47:13,350 --> 00:47:14,210
Because I can't...

803
00:47:14,210 --> 00:47:16,170
Well, I think there's going to be consolidation in banks.

804
00:47:16,770 --> 00:47:17,530
Yeah, yeah.

805
00:47:17,530 --> 00:47:18,090
So...

806
00:47:18,090 --> 00:47:24,910
I mean, PNC just rolled out the buy, sell, trade Bitcoin with Coinbase doing the back end.

807
00:47:25,230 --> 00:47:29,410
They need a good crisis to flush some of that out so that they can get the adoption they want.

808
00:47:31,270 --> 00:47:34,290
I think they got the flush out they were looking for.

809
00:47:34,430 --> 00:47:35,190
I don't know, man.

810
00:47:36,410 --> 00:47:42,790
There's way too many banks that are behind the curve technology-wise.

811
00:47:42,910 --> 00:47:47,470
I don't think they're going to be able to make the shift, but we'll see.

812
00:47:47,470 --> 00:47:49,290
Let's move on to the next one here.

813
00:47:50,690 --> 00:47:51,430
Which one is this?

814
00:47:51,530 --> 00:47:54,730
Is this yours?

815
00:47:55,490 --> 00:47:56,130
Is it mine?

816
00:47:56,430 --> 00:47:57,210
Where am I?

817
00:47:58,410 --> 00:47:58,830
Is it mine?

818
00:47:58,970 --> 00:47:59,030
No.

819
00:48:01,150 --> 00:48:01,630
Okay.

820
00:48:01,830 --> 00:48:03,770
Well, yeah, you're supposed to ask me this.

821
00:48:03,770 --> 00:48:04,490
Yeah, I got it.

822
00:48:06,890 --> 00:48:09,930
Bitcoin diverges from the S&P 500.

823
00:48:10,330 --> 00:48:14,090
The S&P 500 rallied and Bitcoin is not really rallied alongside.

824
00:48:14,610 --> 00:48:14,790
Yeah.

825
00:48:14,790 --> 00:48:17,050
I mean, is this a mean naming to you?

826
00:48:17,050 --> 00:48:18,430
Is this decorrelation?

827
00:48:19,050 --> 00:48:20,230
Is this indicative of anything?

828
00:48:20,430 --> 00:48:21,450
This is not a big deal to me.

829
00:48:21,450 --> 00:48:29,010
I mean, if you frame this in the perspective of how Bitcoin is traded sideways for a year now,

830
00:48:30,070 --> 00:48:35,510
to me, it's price suppression so that institutions can accumulate.

831
00:48:36,610 --> 00:48:37,990
Sovereign wealth ones can accumulate.

832
00:48:38,290 --> 00:48:39,290
Nation states can accumulate.

833
00:48:39,530 --> 00:48:39,610
I agree.

834
00:48:39,610 --> 00:48:48,410
whatever i think literally it's um it's all about trader games in order to aid in the accumulation

835
00:48:48,410 --> 00:48:53,050
of bitcoin into the hands that are going to be the long-term holders for the next phase that i mean so

836
00:48:53,690 --> 00:49:00,410
just take a look at so you have um all the centralization of bitcoin the banks the etfs

837
00:49:00,410 --> 00:49:07,450
the treasury companies the funds the funds and uh you know you have the sort of the notes roger

838
00:49:07,450 --> 00:49:14,530
raver wrote the book hijacked bitcoin's been hijacked uh epstein funded you know mit mit

839
00:49:14,530 --> 00:49:20,770
funded gavin a lot of people mit funded i'm not a big fan of their work on bitcoin in this

840
00:49:20,770 --> 00:49:27,790
direction i mean gavin went to the cia um is it at all possible non-zero chance that

841
00:49:27,790 --> 00:49:34,410
this is going in the exact direction sort of the banking system would want the government would want

842
00:49:34,410 --> 00:49:37,870
that Bitcoin is not...

843
00:49:37,870 --> 00:49:40,830
Throw in Samurai,

844
00:49:41,470 --> 00:49:42,470
things like Tornado,

845
00:49:42,650 --> 00:49:44,190
the lack of privacy on Bitcoin.

846
00:49:45,510 --> 00:49:46,770
Even Keone would say,

847
00:49:46,930 --> 00:49:49,450
we can have the ultimate freedom money

848
00:49:49,450 --> 00:49:53,410
or we're going to have a Savinne Panopticon on Bitcoin.

849
00:49:53,770 --> 00:49:53,890
Yeah.

850
00:49:54,210 --> 00:49:55,410
I mean, there's potential for that.

851
00:49:55,410 --> 00:49:57,890
I don't think anybody's happy right now.

852
00:49:58,130 --> 00:50:01,050
I don't think anybody's in control or anybody's happy.

853
00:50:01,050 --> 00:50:02,470
Sure, but I mean, it seems like

854
00:50:02,470 --> 00:50:09,570
if they maybe they haven't gotten there but like are they trying yes trying yes 100 i think they're

855
00:50:09,570 --> 00:50:14,670
having a lot of success 100 like this like the death the dark the death star is like there

856
00:50:14,670 --> 00:50:20,970
and it's like yes you know everyone's like hey grandma like you could buy the bitcoin etf and

857
00:50:20,970 --> 00:50:27,950
get on the death star the other thing that i've been thinking about recently as i've been watching

858
00:50:27,950 --> 00:50:34,750
like power law analysis versus exponential equity analysis

859
00:50:34,750 --> 00:50:39,130
is that the papering of Bitcoin, right?

860
00:50:39,510 --> 00:50:43,010
All these institutions that want Bitcoin exposure

861
00:50:43,010 --> 00:50:46,670
but aren't necessarily interested in taking on Bitcoin custody,

862
00:50:47,070 --> 00:50:53,450
that could lead to Bitcoin trading more like an equity

863
00:50:53,450 --> 00:50:55,950
where they control, and maybe that's what we're starting to see,

864
00:50:55,950 --> 00:51:03,650
price suppression, taming the volatility, crushing the volatility, getting a big swath of sideways

865
00:51:03,650 --> 00:51:10,730
action so they can accumulate the exposure they want. And then they could trade it like an equity.

866
00:51:10,810 --> 00:51:17,190
They could run it exponentially, make a stupid amount of money because the supply is so constricted

867
00:51:17,190 --> 00:51:26,370
and then dump it and then it would really bitcoin would then look like the final bubble

868
00:51:26,370 --> 00:51:34,290
like you see you saw when amazon went to nine dollars right like it could trade exponentially

869
00:51:34,290 --> 00:51:40,790
like an equity because of the control that they garner and that could really melt some confidence

870
00:51:40,790 --> 00:51:46,650
in people that have maybe this is their first bitcoin cycle yeah what about the notion

871
00:51:46,650 --> 00:51:50,450
I mean, I think about the long-term value of Bitcoin.

872
00:51:51,150 --> 00:51:52,910
You could everything divide by 21 million

873
00:51:52,910 --> 00:51:54,810
or you can sort of go on any other sort of model

874
00:51:54,810 --> 00:51:57,570
and think, wow, Bitcoin is really undervalued.

875
00:51:58,130 --> 00:52:01,650
To me right now, you know, and I'd say, okay, just I'll wait.

876
00:52:02,550 --> 00:52:05,930
What about the notion that Bitcoin is extremely overvalued right now?

877
00:52:06,350 --> 00:52:10,610
What if Bitcoin is so far ahead of, you know,

878
00:52:10,670 --> 00:52:13,110
we have no history to go on, nothing to compare it to.

879
00:52:13,190 --> 00:52:16,090
I mean, a lot of people say Bitcoin should be doing better than gold.

880
00:52:16,090 --> 00:52:17,410
It should be doing better than the S&P.

881
00:52:17,450 --> 00:52:18,490
There's no rules here.

882
00:52:18,570 --> 00:52:19,590
There's no laws of physics.

883
00:52:20,270 --> 00:52:26,310
Maybe Bitcoin and some other timeline multiverse would only be worth like 10 grand right now.

884
00:52:26,710 --> 00:52:34,890
I mean, 90 grand is a lot of money, even if that's not doing better than on a gold adjusted basis than gold.

885
00:52:35,070 --> 00:52:35,150
Sure.

886
00:52:35,930 --> 00:52:38,510
However it's compared to me, it's still a lot of money.

887
00:52:39,170 --> 00:52:40,690
It's come a long way.

888
00:52:40,810 --> 00:52:40,930
Yeah.

889
00:52:41,170 --> 00:52:42,950
I understand what you're saying.

890
00:52:43,010 --> 00:52:44,570
It could be worth like eight grand right now.

891
00:52:44,570 --> 00:52:46,210
I mean, I understand what you're saying.

892
00:52:46,370 --> 00:52:51,890
I don't, I think when you look at Bitcoin scarcity versus gold scarcity, right?

893
00:52:51,910 --> 00:52:54,850
Like if you want to control gold, like you China, right?

894
00:52:54,850 --> 00:53:01,130
You want to, you find a new mine, you get the permits and you tell miner, go drill and

895
00:53:01,130 --> 00:53:05,270
get, get, spend the CapEx, get the gold for us, right?

896
00:53:05,390 --> 00:53:05,650
And sure.

897
00:53:06,130 --> 00:53:09,250
Gold supply expands and maybe nobody even knows about it because it goes straight to

898
00:53:09,250 --> 00:53:12,670
the, the, or wrap some tungsten and sell it to Britain.

899
00:53:12,950 --> 00:53:13,230
Whatever.

900
00:53:13,390 --> 00:53:13,530
Right.

901
00:53:13,530 --> 00:53:16,490
So there's all these other ways to accumulate gold.

902
00:53:17,530 --> 00:53:19,150
There's only 21 million Bitcoin.

903
00:53:20,190 --> 00:53:21,230
It's not like you can dig up.

904
00:53:21,230 --> 00:53:24,910
Yeah, I mean, it's a game of musical chairs with the lights off.

905
00:53:25,230 --> 00:53:25,470
I mean.

906
00:53:25,610 --> 00:53:27,270
Yeah, well, lights are off.

907
00:53:27,270 --> 00:53:29,970
And you have the opportunity to grab chairs before the music stops.

908
00:53:29,970 --> 00:53:32,470
Musical chairs with the lights on, and you're looking around.

909
00:53:32,890 --> 00:53:35,410
And the chairs are disappearing, and the people are not.

910
00:53:35,410 --> 00:53:37,770
Sure, and you can go stack chairs in the corner for your family.

911
00:53:37,990 --> 00:53:40,730
I mean, you don't have to leave chairs behind.

912
00:53:40,730 --> 00:53:43,170
and you can get more than your share or whatever you want to call it.

913
00:53:43,170 --> 00:53:44,470
You can actually take a chair and go sit in the corner

914
00:53:44,470 --> 00:53:46,450
and be like, you guys play the fucking game.

915
00:53:46,450 --> 00:53:47,270
You can take 10 chairs.

916
00:53:47,410 --> 00:53:48,190
I got my chairs.

917
00:53:48,330 --> 00:53:48,470
Right.

918
00:53:48,830 --> 00:53:49,070
Right.

919
00:53:49,230 --> 00:53:53,870
So Bitcoin ends where Bitcoin is always worth one Bitcoin.

920
00:53:54,390 --> 00:53:59,550
Whatever purchasing power gap we generate between fiat and Bitcoin,

921
00:53:59,550 --> 00:54:07,190
between now and whenever the end of the freaking fiat fiasco printing stops,

922
00:54:07,190 --> 00:54:12,290
because that's what I don't hear anybody talk about except for Chris Sullivan, right?

923
00:54:12,810 --> 00:54:16,390
Is that someday, potentially, they don't have to print.

924
00:54:17,390 --> 00:54:21,530
Okay, so but between now and then, we're creating this spread of value,

925
00:54:21,530 --> 00:54:27,050
this gap between fiat dollars put into Bitcoin versus the market multiple.

926
00:54:28,210 --> 00:54:31,230
And that's an increase in your purchasing power.

927
00:54:32,290 --> 00:54:36,530
Well, if the fiat system collapses, if the financial system collapses,

928
00:54:36,530 --> 00:54:39,230
or we get rugged, we get the great takening,

929
00:54:39,670 --> 00:54:42,190
and all those assets get rugged,

930
00:54:42,630 --> 00:54:44,470
you're still going to maintain that spread

931
00:54:44,470 --> 00:54:46,430
because there's only going to be 21 million Bitcoin

932
00:54:46,430 --> 00:54:47,530
and you're going to have some of it.

933
00:54:48,770 --> 00:54:50,870
And fiat is just endless.

934
00:54:52,430 --> 00:54:53,810
Paper securities are endless.

935
00:54:54,850 --> 00:54:57,390
Companies that rely on fiat will go bust.

936
00:54:58,250 --> 00:54:59,350
Bitcoin will still be Bitcoin.

937
00:55:00,070 --> 00:55:02,150
And they'll only still be 21 million.

938
00:55:02,930 --> 00:55:06,350
So you're always going to maintain your purchasing power

939
00:55:06,350 --> 00:55:10,250
and you'll always be able to trade with Bitcoin.

940
00:55:11,650 --> 00:55:14,570
Well, not if things go the way they're going

941
00:55:14,570 --> 00:55:15,970
with the samurai case.

942
00:55:17,030 --> 00:55:19,530
I mean, just, it's a surveillance panopticon

943
00:55:19,530 --> 00:55:21,010
and they're gonna say, you can't move it.

944
00:55:21,010 --> 00:55:21,930
You can't use it.

945
00:55:21,930 --> 00:55:23,470
We'll tax it 99%.

946
00:55:23,470 --> 00:55:24,310
Yeah.

947
00:55:24,310 --> 00:55:26,230
I guess it becomes black market money.

948
00:55:26,230 --> 00:55:28,650
I mean, that's a leave America type situation.

949
00:55:28,650 --> 00:55:29,990
That point, well, is it?

950
00:55:29,990 --> 00:55:32,970
Are we all gonna go live in El Zante?

951
00:55:33,000 --> 00:55:35,340
we're all going to secretly trade on just cyberspace.

952
00:55:35,440 --> 00:55:39,860
We can't really trade in person because we're in gated cities.

953
00:55:40,180 --> 00:55:42,240
I've talked to Bitcoiners that have thought through this,

954
00:55:42,260 --> 00:55:42,820
and they're like, you know,

955
00:55:42,860 --> 00:55:44,380
there could be a point in time in the future

956
00:55:44,380 --> 00:55:45,940
where you do need to hard fork Bitcoin

957
00:55:45,940 --> 00:55:48,080
into a privacy version of Bitcoin.

958
00:55:49,440 --> 00:55:49,840
Right.

959
00:55:49,940 --> 00:55:52,780
So one of Keone's points is we've been spending a lot of time on,

960
00:55:52,900 --> 00:55:53,840
not we, you and me,

961
00:55:53,940 --> 00:55:56,020
but developers on scaling tokens

962
00:55:56,020 --> 00:55:57,380
and not enough time on privacy.

963
00:55:58,580 --> 00:56:00,340
You know, and tools they can't stop.

964
00:56:01,180 --> 00:56:02,860
You know, they put Samurai out of business.

965
00:56:03,000 --> 00:56:04,220
All right, let's move on.

966
00:56:05,420 --> 00:56:06,480
It's one of my favorite topics.

967
00:56:07,660 --> 00:56:08,580
Are we on Tether?

968
00:56:09,720 --> 00:56:10,080
Yeah.

969
00:56:10,280 --> 00:56:12,720
Now they're facing renewed solvency scrutiny.

970
00:56:15,620 --> 00:56:17,920
What do you make of the S&P's downgrade,

971
00:56:18,120 --> 00:56:20,100
sort of reviving old solvency concerns?

972
00:56:20,120 --> 00:56:22,900
I mean, I don't think very much about any of the rating agencies.

973
00:56:23,820 --> 00:56:26,200
And if you read this news piece, it's a hit piece.

974
00:56:26,200 --> 00:56:27,200
It's not research.

975
00:56:27,980 --> 00:56:29,020
It's not data-driven.

976
00:56:29,020 --> 00:56:36,300
And it's completely just somebody funding an article based on being angry

977
00:56:36,300 --> 00:56:40,400
of the fact that, you know, the world is going digital

978
00:56:40,400 --> 00:56:42,220
and the Trumps are part of it.

979
00:56:43,020 --> 00:56:44,980
So take it with a grain of salt.

980
00:56:45,340 --> 00:56:47,800
I think it's the bank industry striking back.

981
00:56:47,800 --> 00:56:52,500
But, you know, Tether's, you know, very wrapped up with Cantor and SoftBank.

982
00:56:52,600 --> 00:56:53,200
It'll be interesting.

983
00:56:53,380 --> 00:56:54,260
And then El Salvador.

984
00:56:54,260 --> 00:57:01,980
Yeah, and Tether is, you know, their issue here is that they're not 100% backed by treasuries.

985
00:57:02,580 --> 00:57:07,100
That's one of the issues, that they're partially backed with Bitcoin and gold.

986
00:57:07,940 --> 00:57:11,740
Do you think Tether's a net positive or a net negative?

987
00:57:14,280 --> 00:57:15,620
Do you like Tether?

988
00:57:16,020 --> 00:57:17,460
Are you weary of Tether?

989
00:57:18,040 --> 00:57:19,500
I'm not leery of Tether.

990
00:57:20,160 --> 00:57:23,260
I'm leery of the...

991
00:57:23,260 --> 00:57:25,160
I mean, they work with the state.

992
00:57:25,480 --> 00:57:29,900
Like extending fiat.

993
00:57:30,480 --> 00:57:31,660
Monetary colonialism.

994
00:57:31,940 --> 00:57:32,220
Yeah.

995
00:57:32,400 --> 00:57:34,120
The negative sides of fiat.

996
00:57:34,440 --> 00:57:34,580
Yeah.

997
00:57:34,640 --> 00:57:48,920
Like, you know, it's a really tough question to kind of deal with because it's like I can completely understand why someone in a third world country would download a wall and go completely on a stable coin system.

998
00:57:49,140 --> 00:57:49,620
Yeah.

999
00:57:49,780 --> 00:57:51,000
Versus their local fiat.

1000
00:57:51,000 --> 00:57:52,200
I completely get it.

1001
00:57:52,200 --> 00:57:58,600
and they deserve the ability to step function improve in their ability to function financially

1002
00:57:58,600 --> 00:58:06,680
and it is kind of like western privilege to be like oh you know it's inflating at seven percent

1003
00:58:06,680 --> 00:58:13,200
like fuck you dude my currency is plates at 40 percent of a year like okay i get it do your

1004
00:58:13,200 --> 00:58:21,440
stable coin thing um the other side of me is like you know we just need to kill fiat so it's that's

1005
00:58:21,440 --> 00:58:26,120
weird things tether's kind of birth was around like sort of helping you get into bitcoin yeah

1006
00:58:26,120 --> 00:58:30,580
and stay in sort of maybe the bitcoin ecosystem in a way yeah however you want to look at that

1007
00:58:30,580 --> 00:58:36,760
now it's sort of like how do you further the dollar yeah there's a very different sort of

1008
00:58:36,760 --> 00:58:41,340
ethos it seems like it doesn't seem like it's really supporting bitcoin at all anymore it's

1009
00:58:41,340 --> 00:58:46,940
ethos the enemy of your enemy is your friend sure and it may just be a point in time in history where

1010
00:58:46,940 --> 00:58:52,660
this is what needs to happen in order for bitcoin like well doesn't it seem more like a dollar

1011
00:58:52,660 --> 00:58:57,260
company than a bitcoin company sure but i'm getting as like bitcoin and crypto are sort of

1012
00:58:57,260 --> 00:59:05,600
uniting against an enemy sure right now in order to to get a stronger footing um but you know three

1013
00:59:05,600 --> 00:59:11,860
spider-mans squaring off right but at the end of the day like eventually um the fight will continue

1014
00:59:11,860 --> 00:59:26,876
you on to the next phase if we but you know we have to we have to move forward with you know and it uh sometimes you can be an idealist in order to succeed Well the only thing less exciting than tether is the yen

1015
00:59:32,216 --> 00:59:34,476
I don't know, dude. I think the yen, the yen.

1016
00:59:34,616 --> 00:59:38,216
You think this is, uh, well, I mean, this is like the death of a currency, you know,

1017
00:59:38,216 --> 00:59:43,256
or just sort of control or the, the, the yen carry trade, the notion that they could just

1018
00:59:43,256 --> 00:59:44,476
manipulate this thing.

1019
00:59:44,876 --> 00:59:47,096
They're in this tight spot where it's like,

1020
00:59:47,096 --> 00:59:49,056
do we raise rates and destroy

1021
00:59:49,056 --> 00:59:51,116
our economy or do we lower

1022
00:59:51,116 --> 00:59:53,156
rates and print trillions of dollars

1023
00:59:53,156 --> 00:59:54,476
and destroy our economy?

1024
00:59:54,976 --> 00:59:56,896
Their bond market rates are rising

1025
00:59:56,896 --> 00:59:59,116
on their own.

1026
00:59:59,416 --> 01:00:01,296
So they're raising rates to try

1027
01:00:01,296 --> 01:00:02,836
and suppress the

1028
01:00:02,836 --> 01:00:05,216
natural market forces that are

1029
01:00:05,216 --> 01:00:06,416
going to take the debt markets.

1030
01:00:06,416 --> 01:00:09,296
Well, they're printing a lot of money. A huge stimulus bill.

1031
01:00:09,436 --> 01:00:11,236
So this is when we were talking at the beginning

1032
01:00:11,236 --> 01:00:12,716
of the show. I think

1033
01:00:12,716 --> 01:00:15,496
Japan has some incentive for

1034
01:00:15,496 --> 01:00:16,956
war, unfortunately.

1035
01:00:17,356 --> 01:00:19,736
When countries have got themselves in these positions,

1036
01:00:20,096 --> 01:00:21,756
oftentimes war is the solution.

1037
01:00:21,756 --> 01:00:23,456
They're just the dollar

1038
01:00:23,456 --> 01:00:25,276
manager of Japan, in a way.

1039
01:00:25,876 --> 01:00:27,256
The way you explain it, it's like

1040
01:00:27,256 --> 01:00:29,236
you get to be the regional...

1041
01:00:29,236 --> 01:00:29,716
Not yet.

1042
01:00:29,716 --> 01:00:30,496
They're tied.

1043
01:00:30,836 --> 01:00:32,256
They've been tied to the dollar.

1044
01:00:32,776 --> 01:00:34,296
And they take direction, it seems like.

1045
01:00:35,416 --> 01:00:35,816
100%.

1046
01:00:35,816 --> 01:00:36,976
So it's like an outpost.

1047
01:00:37,436 --> 01:00:39,836
So I feel like if we don't want them to go to war

1048
01:00:39,836 --> 01:00:40,756
in that way,

1049
01:00:40,756 --> 01:00:45,756
they'd have to drag like drag us kicking and screaming you know what i mean yeah i think it

1050
01:00:45,756 --> 01:00:51,096
would be uh i don't know dude i maybe we want them to go to war so the fed can kind of send

1051
01:00:51,096 --> 01:00:55,496
the money i don't want to see money i don't want to see money laundering i don't want to see any

1052
01:00:55,496 --> 01:01:03,676
wars anywhere in the world but when i look at the chess table i can see a potential where china

1053
01:01:03,676 --> 01:01:12,396
invades taiwan japan says this is existential for our security we support our partner we're

1054
01:01:12,396 --> 01:01:20,036
we've got andrel feeding them a bunch of drone weapons and japan we're supporting japan's war

1055
01:01:20,036 --> 01:01:26,816
front on in taiwan against china and it becomes this new proxy war with the u.s and china through

1056
01:01:26,816 --> 01:01:33,556
via japan i could see that happening i hope that god skips like building a conventional military

1057
01:01:33,556 --> 01:01:39,396
and goes like right to drones you're saying they don't really have they use u.s technology like

1058
01:01:39,396 --> 01:01:47,316
i literally i literally in the last month saw lucky palmer talking about uh what how you would

1059
01:01:47,316 --> 01:01:56,976
defend a taiwan invasion by china on a ted talk and then i see a tweet today about japan saying

1060
01:01:56,976 --> 01:02:02,456
if china invaded taiwan it'd be existential for our security and then i see martin armstrong

1061
01:02:02,456 --> 01:02:04,816
I'm saying the war is not going to be with Russia.

1062
01:02:04,896 --> 01:02:06,116
The war is going to be with China.

1063
01:02:07,176 --> 01:02:07,996
Just like going,

1064
01:02:08,136 --> 01:02:08,916
Oh my God.

1065
01:02:08,976 --> 01:02:13,536
Like they're just feeding the algorithm to like get people prepared for

1066
01:02:13,536 --> 01:02:13,796
this.

1067
01:02:13,876 --> 01:02:14,396
I don't know.

1068
01:02:14,596 --> 01:02:14,976
I mean,

1069
01:02:14,996 --> 01:02:15,476
I don't want to,

1070
01:02:15,496 --> 01:02:16,696
I don't want to see any of it.

1071
01:02:17,096 --> 01:02:17,356
Yeah.

1072
01:02:17,356 --> 01:02:19,216
I don't want to see any of this garbage.

1073
01:02:19,356 --> 01:02:20,156
It's an interesting angle.

1074
01:02:20,256 --> 01:02:21,756
When countries get in these positions,

1075
01:02:22,356 --> 01:02:24,496
this tends to happen.

1076
01:02:24,896 --> 01:02:24,996
Right.

1077
01:02:25,676 --> 01:02:26,076
Yeah.

1078
01:02:26,216 --> 01:02:30,136
They seem to need outbreak for these crisis type moments with the

1079
01:02:30,136 --> 01:02:30,856
economy.

1080
01:02:30,856 --> 01:02:33,776
All right, let's move on to the next one here, the last one. Let's play this clip here.

1081
01:02:34,196 --> 01:02:40,796
I'm surrendering, not just physically, but also my sovereignty.

1082
01:02:41,456 --> 01:02:44,556
And I'm now their property for the next five years.

1083
01:02:45,016 --> 01:02:47,196
And they can do with me essentially what they want.

1084
01:02:48,716 --> 01:02:56,096
So you're going to go most likely into a detention center in Brooklyn.

1085
01:02:56,096 --> 01:03:04,096
and then eventually get designated to some kind of facility that will be your long-term facility.

1086
01:03:06,096 --> 01:03:16,232
I spent several years in the detention centers in Southern District of New York And it going to be a totally alien environment

1087
01:03:18,612 --> 01:03:26,672
It's going to be you with about 100 other guys packed into a unit.

1088
01:03:27,572 --> 01:03:30,192
And you're going to have to live in this situation.

1089
01:03:31,332 --> 01:03:33,732
I guess you said you've talked to people who've been through it.

1090
01:03:33,732 --> 01:03:40,312
So I'm sure you've got your strategy figured out.

1091
01:03:41,192 --> 01:03:54,072
But, you know, all I'll say is just stand back and observe for the first, you know, couple months.

1092
01:03:55,292 --> 01:04:00,692
Get a sense of who's who and how things operate.

1093
01:04:00,692 --> 01:04:10,252
and uh you know if somebody tests you then you just you just have to stand up for yourself

1094
01:04:10,252 --> 01:04:14,532
yeah so um

1095
01:04:14,532 --> 01:04:18,392
i uh

1096
01:04:18,392 --> 01:04:29,592
i listened to your interview and i was listening to this and um man it's just i agree with with

1097
01:04:29,592 --> 01:04:37,412
what Jesse's saying that you know you don't deserve to be facing what you're facing and

1098
01:04:37,412 --> 01:04:45,672
especially because they they dropped the money laundering charge and so all you have

1099
01:04:45,672 --> 01:04:52,632
all they all they the only authority they have to put you in prison right now is is the is the

1100
01:04:52,632 --> 01:04:59,212
other charge the the money transmission charge and my understanding is that FinCEN

1101
01:04:59,212 --> 01:05:06,272
gave you the guidance that you're not breaking that law and fincen gave those prosecutors

1102
01:05:06,272 --> 01:05:14,532
the same guidance that you're not breaking any laws um and we all know that you had no custody

1103
01:05:14,532 --> 01:05:20,592
of funds which is a you know an element of the offense as far as i understand it um

1104
01:05:20,592 --> 01:05:28,552
so the way things stand right now i don't see how anyone can justify sending you to prison for the

1105
01:05:28,552 --> 01:05:38,632
next five years on those grounds um so you have my support kioni and uh you know

1106
01:05:38,632 --> 01:05:44,812
they're gonna try to put you in prison in two weeks but i hope they don't and and if they do

1107
01:05:44,812 --> 01:05:50,152
i i really hope you don't spend any more time in there than than you have to

1108
01:05:50,152 --> 01:06:00,772
uh it's really this is not i mean

1109
01:06:00,772 --> 01:06:13,052
well hopefully i mean ross chiming in ross albrecht will kind of bring some more attention to it

1110
01:06:13,052 --> 01:06:18,752
yeah hopefully he has he has a line to the right some people in the administration

1111
01:06:18,752 --> 01:06:23,352
You hope and maybe he'll even go out further for him and make a call.

1112
01:06:23,612 --> 01:06:30,932
I don't know how many, I know people that of our class of Bitcoin are aware of this threat.

1113
01:06:31,052 --> 01:06:40,932
I don't know how many new people today really comprehend what is lost if we lose the ability to self-custody.

1114
01:06:41,792 --> 01:06:43,972
Because really this is what it comes down to, right?

1115
01:06:43,972 --> 01:06:51,212
Because that like, FinCEN's guidance that if you're holding your own coins and you're

1116
01:06:51,212 --> 01:07:08,468
doing peer to peer transactions you not doing money transmission And that is so important if we lose that ability in bitcoin that um it just another wall street asset at that point right well right now this isn

1117
01:07:08,468 --> 01:07:16,348
precedent setting this isn't kind of creating law this isn't so again this is uh yeah but we can't

1118
01:07:16,348 --> 01:07:21,848
just at the district level and he pled so there's no win at the even the district level and even at

1119
01:07:21,848 --> 01:07:27,948
the district level, the law is that no other district judge has to acknowledge or follow

1120
01:07:27,948 --> 01:07:34,188
another district judge's ruling. It would just be a persuasive argument. Could it be appealed in

1121
01:07:34,188 --> 01:07:40,888
another jurisdiction? If they won, if the government won and they lost, then that would be sort of

1122
01:07:40,888 --> 01:07:49,008
persuasive argument. It wouldn't be precedent. Then if Keone appealed and they took it to the

1123
01:07:49,008 --> 01:07:56,008
appellate judge appellate court then the ruling on that would be precedent so right now that's

1124
01:07:56,008 --> 01:08:03,628
where roman strong is i think is his name with tornado or uh so that he lost and he's going to

1125
01:08:03,628 --> 01:08:11,348
appeal and the outcome of that will set a precedent so this is seems like not personal

1126
01:08:11,348 --> 01:08:21,548
but they're sort of using him as a political sort of pawn or prisoner to set sort of a message it

1127
01:08:21,548 --> 01:08:27,988
seems like but what this also paints is there could be laws that this is okay and they'll still

1128
01:08:27,988 --> 01:08:32,048
come after you if they want to throw you in jail they'll put you in front of the judge they choose

1129
01:08:32,048 --> 01:08:36,728
they want to make it uh if they want to make a uh they want to not give you evidence if they want to

1130
01:08:36,728 --> 01:08:38,968
they want to make an example out of you

1131
01:08:38,968 --> 01:08:41,308
they will, they'll come after you

1132
01:08:41,308 --> 01:08:43,188
and they'll strangle you financially

1133
01:08:43,188 --> 01:08:45,288
they'll take all your stuff

1134
01:08:45,288 --> 01:08:46,528
they'll go after your family

1135
01:08:46,528 --> 01:08:49,668
all your family's financial assets

1136
01:08:49,668 --> 01:08:51,508
right now, Kony's lucky

1137
01:08:51,508 --> 01:08:53,788
he's on bail, he made bail

1138
01:08:53,788 --> 01:08:55,708
he's under

1139
01:08:55,708 --> 01:08:56,648
home arrest

1140
01:08:56,648 --> 01:08:58,528
so he can't leave the house

1141
01:08:58,528 --> 01:09:01,188
at least he's home

1142
01:09:01,188 --> 01:09:03,628
he could spend some time with his wife and family before going

1143
01:09:03,628 --> 01:09:05,968
he goes in on December 19th

1144
01:09:05,968 --> 01:09:12,448
reports he just found out where he reports this begins or some way moves on transitions to a

1145
01:09:12,448 --> 01:09:19,408
different phase on december 19th and he loses his freedom and he ends up in a cage in about 10 days

1146
01:09:19,408 --> 01:09:27,288
um it's interesting to me one thing i haven't i'm guessing he pled out about 72 to 96 or something

1147
01:09:27,288 --> 01:09:33,348
like that hours ago because this just seemed to come on really fast in terms of how urgent this

1148
01:09:33,348 --> 01:09:40,328
all is that seems to have really developed in the last 72 hours um i don't know why there was less

1149
01:09:40,328 --> 01:09:47,348
so much less attention on it weeks ago i'm not saying there was zero but obviously now that

1150
01:09:47,348 --> 01:09:52,488
we're in an urgent situation so right there's a petition you could sign uh i think obviously just

1151
01:09:52,488 --> 01:09:57,388
you know hopefully natalie brunell will have him on i think she's a great voice for kind of getting

1152
01:09:57,388 --> 01:10:04,108
this out just she has a tremendous platform it's more mainstream we need mainstream support

1153
01:10:04,108 --> 01:10:09,388
it has to go up bigger than bitcoin and crypto yeah all right uh i don't know if we have any

1154
01:10:09,388 --> 01:10:16,848
questions in the chat francis but nothing tonight boys all right man this has been great uh this

1155
01:10:16,848 --> 01:10:21,628
is bitcoin center live stream 32 every tuesday night at 8 p.m brought to you by byte federal

1156
01:10:21,628 --> 01:10:27,188
go bank yourself you got point of sale crypto wallet and the bitcoin atm buy that shit put that

1157
01:10:27,188 --> 01:10:35,308
in your own self-custody stamp your seed phrase uh in metal and uh and secure for generations

1158
01:10:35,308 --> 01:10:39,328
thank you paul so much huddle on all right peace out