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welcome back to bitcoin center live stream number 34 brought to you by bite federal we're gonna do

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a year in review i'm cedric youngleman i'm paul tarantino how are you this week i'm good nice to

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meet you nice to meet you yeah man it's uh christmas time i've been making lots of food and

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cleaning stuff hanging stuff have you been thinking about like sort of 20 20 25 i mean i have

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a lot how fast did it go by yeah i don't know i think i feel like someone has turned up the

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clock in the simulation like it's just like going at one one and a half did i stop i stopped like

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really paying a lot of attention to social media this week and things have slowed down

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it's really nice you have more time in the day i guess um i feel much less bothered i'm much happier

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way happier like i've not like i mean i have been on x and i have been on some things but like when

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i i see that those clips that are like you know world's ending everything's gonna fall apart

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nuclear war at any second i'll just like scroll but like i don't care whatever i don't care

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and I feel way better.

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It's like a cleanse.

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Yeah, it's really good.

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Before the show, we were talking about

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almost like our lives in review

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and probably the stupidest shit we've done.

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Yes.

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And do you think our kids are going to kind of have their own?

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Oh, dude, wow.

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Yeah.

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Or are they just going to kind of skip that, you know?

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I think kids are far more aware, at least while my kids,

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they're far more aware of the dangers these days.

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I don't know if that's a good thing.

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do you think i think that's from the phone yeah for sure i think they're much more cautious it

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seems but in in that way maybe they're not living life to the fullest not your kids in particular

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i know maybe kids are no exactly i'm like they're on tv like um tv i just worry about the exposure

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to all the like drama and and what kind of impact that has on their childhood as opposed to like

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like all the things we're talking about where you just like were you you really didn't perceive of

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the risks that you were taking as a kid when we were younger just did dumb stuff got hurt when

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like you didn't even like even when why do you think they perceive the risk more because it's

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all over their phones i think they see everyone else's sort of mistakes you mean they learn by

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watching like the worst thing we saw was the what happened nasa rocket blowing up right sure sure

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now they get they see every they see people on the daily getting beat shot kidnapped it's all

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over social media maybe they stay home more than because of that yeah i think somebody i did hear

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somebody uh analyze gen z and calling them the home generation like do they go in the alleys the

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malls likely to stay home parks after dark do they like sort of roam the streets in the neighborhoods

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it's yeah i'm guilty too because i'm petrified that something bad is going to happen sure

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well are we safer generally speaking as a society

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i don't know when i turn off like when i turn off social media i do feel very safe and like i

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look around the world i'm like ah everything's like we look around your local world your your

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what you know what you touch and hold every day and you know it's a pretty it's a pretty uh easy

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going place. But then as soon as you start flipping through your phone, you're like,

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oh my God, the world is ending. So, you know, and we all know a lot of that is engineered to

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make us feel that way, whether that's just purely because they want our attention or it's because

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they're trying to engineer the fear and the chaos and the threat. But there's a lot of it is, I think,

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overdone i think the average everyday person if they put down their phone wants to be happy wants

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to take care of their family wants to love their neighbor wants to be a good person and there's this

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existential exterior force that's constantly pushing us negative thoughts and i don't think

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it's healthy i agree with everything you're saying that but do you think some people don't put the

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phone down because maybe they don't like their lives at home and i'm speculating here maybe they

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they don't like their jobs or they're frustrated or,

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and then so then the phone is like this massive escape that just is

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continuous in perpetuity. And you wake up to, you know,

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cause then you don't have to maybe take as much action in your own life.

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The phone kind of gives you that escape. And I'm not talking about the kids.

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No, I guess. I don't know if it's as much,

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I didn't know how to describe it. Cause I wouldn't use the word escape,

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but the phone's not, it's not an escape.

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Well, I mean, it's almost like, I think you're,

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it's almost like you feel like you're missing something

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or you're not fully informed.

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And this desire to know everything that's happening

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in every single moment pulls you into it.

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And then you end up having all these negative repercussions

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because it gets your mind to be thinking very negative thoughts.

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Right?

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And I've been thinking about this a lot lately,

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about how you kind of have to go through that process

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to wake up you kind of have to become aware of all the horrible in the world in order to wake up

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but then once you're awake then you have to go through the process of letting that go

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because if you don't right formula you're going to be stuck in this like horror loop

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that with your mind and could spin you off into a very negative place and have very bad

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repercussions through your entire life. Whereas if you can like learn it, go down that rabbit hole,

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see the evil, and you can pull back from that by choice. If you're consciously making the choice to

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not engage with it, I think that there's something there that maybe like, like, you know, it's the

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yin and the yang, it's the dark and the light. And it's like, you have to be aware of it, but you

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also have to wake up from it and choose to not engage with it and not give your energy to it.

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Yeah.

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So I don't know.

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I've been just kind of thinking about that a lot lately.

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Yeah, that's apt going into the new year.

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Let's do the year in review.

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Let's get into it.

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Let's do it.

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This is Bitcoin Center brought to you by Byte Federal.

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Let's be real, right?

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Phrasing Telegram for launching a Bitcoin wallet.

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I've always felt like Luke 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

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and the greater fool 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.

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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 say no, that he's a fake name.

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It was a pseudonym.

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I mean, 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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The federal government is already among the largest holders of Bitcoin, as you know.

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really one of the largest holders in the world with as many as 200,000 Bitcoin obtained via

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civil law and various other forms of law and including enforcement actions. These existing

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holdings will form the foundation of the new reserve. Unfortunately, in recent years,

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the U.S. government has foolishly sold tens of thousands of additional Bitcoin that were worth

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billions and billions of dollars had they not sold them but they did sell them mostly during

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the biden administration and not a good not a good thing to have done from this day on america

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will follow the rule that every bitcoin knows very well never sell your bitcoin that's a little

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phrase that they have i don't know if that's right or not who the hell knows

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dude all right looking back at 2025 did the trump white house meaningful meaningfully deliver on its

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pro bitcoin promises it delivered on stable coins right uh what else though uh

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uh no uh no well i mean we got the genius act i mean dude this is i don't know getting clarity

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the clarity act which i agree is mostly about the stable coins what about the strategic

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bitcoin reserve yeah we got something they seized 350 000 bitcoin who has more bitcoin burma or us

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i think it's close i think i think america does and burma mind it good for them uh did they mind

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this burma no bruton i think that's something that was i thought 150 000 of that was seized as well

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really yeah i don't think that was all mine they do mine big well i'll look into that on my phone

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on a second but what about what about ross ross got out on yeah yeah i mean that's delivering day

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two or three well keone keone's now in jail like four days now four nights um so i don't know dude

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i mean like we talked about this right like when we were all at um nashville yeah and trump spoke

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yeah it was really kind of like uh eh compared to um when kennedy spoke

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he really understood bitcoin or his speech writer did he got it well or his speech writer did but

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no i mean he he was talking he talks like a bitcoiner he speaks like a bitcoiner he understands

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it um i mean just in that comment right there like i don't know whether you should sell it or

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not you know like he's he's not he never sell your bitcoin who the hell knows didn't you get

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the sense since you get the sense that it was a way to get a to get the vote like his his speech

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about bitcoin wasn't like really heartfelt it i think trump is is in the um you know i figured

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out bitcoin and so now let's do crypto everything like i learned bitcoin and that means everything

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blockchain is good sure and it all means being deep uh banking yeah they're looking at it and

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a way to make money he's looking at it purely as a way to make money in a power play i think they're

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up 11 or 12 billion uh what do you what do you think of that that uh trump and his family have

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have allegedly proffered to the tune of, let's say,

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10 billion plus in their net worths in the last 12 months.

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Yeah.

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What is that?

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How do you process that as a United States citizen and any president,

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not just Trump?

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Yeah, it's interesting.

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I mean, I think I've said this a few times on the show, right?

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It's not insider trading, but it is, you know,

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it's definitely insider information about what,

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what legislation is coming,

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what kind of deals are being made.

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And you could certainly have dinner with your kids and say, Hey,

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we should probably be doing this kind of stuff.

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And they're doing this kind of stuff.

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Now they were into it prior to the election.

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But yeah, it's, it's interesting.

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I mean, this is a dilemma that goes across all of politics, right?

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whether it's individual stocks or crypto or Bitcoin.

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Well, just business operations.

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I mean, look at the Biden family.

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Right?

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I mean, they profited.

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The Clintons have profited.

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Obama, they've all profited from the connections and the knowledge of legislation and the deals that get made while they're on the clock running our country.

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In the 90s, it used to be a book deal.

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for two or three million then you know now is to like say 2005 and then then with obama

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and i'm i'm only naming names to just because of the years it's not even uh the individuals but

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just as time goes on so obama is now 20 2008 2012 2000 the net the netflix deal you know 80 90 100

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million so that that's the evolution and then now you know with crypto or any way they could kind of

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figure things out now you have a regime or family that's profiting to the tune of several billion

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and how much of that is inflation verse it just is worse uh corruption as is an or a magnitude or an order greater do you see what i saying is it like is this just greater corruption or is it just the money worth less or is it obviously it both i think it all the above

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yeah it's all but is it is is what trump doing that much more corrupt or is they just garnered

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that much more money out of the corruption dude i i yeah because it doesn't seem that

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more corrupt to me it just seems like more money and anything it seems less corrupt and that it's

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more transparent it's like anything it's like the boiling frog it's like every anything right the

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needle keeps moving through every administration it keeps we keep accepting it we we will get all

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we in the past i remember you know getting all hot and heavy over certain things the politicians did

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when we were younger and nothing ever happens to them they pardon themselves they move on so you get

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to the point where you just like you as a citizen of the united states and many many countries around

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the world uh where you are not in a position where you feel like you have the power to really even

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do anything but have an opinion i try to keep an open mind from the this whole thing is very early

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so much that i'm trying to learn yeah we kind of got off topic yeah but i think it's i think it's

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relevant but uh what's that now now i forgot what i was gonna say well i mean we're talking about

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like it was what did you deliver on bitcoin right and i the delete like no he hasn't delivered on

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bitcoin there hasn't been a a way to acquire more bitcoin that's revenue neutral other than

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confiscation right but well what about even even well we talked about building a strategic bitcoin

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reserve we got the crypto reserve we've got the bitcoin reserve that's still the same size as it

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was when we started except for i don't know if they've now accumulated more coins they have more

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coins now there's up to 350 yeah 350 000 i forget the the where they got the latest 120 000 that

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that were confiscated also of note would you rather see them though like supporting the network

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be like hey oh the 120 000 was from the pig farming yes the big farming so those should have been

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returned to victims uh keone or samurai's bitcoin and whatever bitcoin i guess personal holdings uh

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of their their keone and bill were confiscated seized but then sold by sdny so it didn't even

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follow sort of really the 2025 sbnr mandate i didn't know they sold yeah sdmy went rogue there

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and sold the coins um but i don't think trump is actually delivered is this something though maybe

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he is and i'm just trying to play it early on i was giving him the benefit of the doubt thinking

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okay well they're going to get stable coins in place what are they doing that they're going to

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get the genius act laying the seeds and then yeah are they planning and sowing the seeds i guess

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guess we'll see building the rails they haven't delivered that yet in 2025 okay what would be

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evidence of delivery for you that they're participating in the network and that they're

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looking at bitcoin as a way for uh rebuilding the balance sheet of america that means like

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they're they're mining bitcoin they're um like i said participating in the network it's very

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interesting to say it that well yeah run a node take self-custody provide value to the network

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instead of just confiscating other people's because that's not providing uh right network

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they haven't they haven't provided uh i mean the genius act is supposed to provide clarity

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in it i mean not the genius act the clarity act right supposed to provide clarity most of the

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clarity is coming around like is your shitcoin a security or not well they did repeal sab what 121

224
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and rolled out sap 122 which is banks and you see progress here okay so we're talking about though

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we're we're talking about progress that's related to trying to get traditional finance involved in

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the bitcoin space well what we're and maybe they've been fighting the legacy banking i'm

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just playing devil's advocate maybe they've been fighting we're not seeing an adoption of the

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bitcoin core the philosophy ethos culture of what it means understanding of what that is right and

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And that's kind of where I was starting with this.

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I think Kennedy had an understanding of the true importance of Bitcoin

231
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and what it meant for humanity when he spoke at Nashville.

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Okay.

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And Kennedy is in the administration.

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Is he delivering?

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Has he delivered on what you think on sort of the health aspects of things?

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I think he's actually being somewhat effective in the face of massive pushback.

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I mean, I think he's doing what he can.

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He's making deals, doing what he can.

239
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Maybe you could say the same thing about Trump.

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I'm not going to say that, but I was playing devil's advocate.

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So I don't know.

242
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I guess we will see.

243
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Does the support of Bitcoin for Trump mean pumping massive liquidity through the rest of his administration?

244
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Maybe that's the way he sees.

245
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Because that also fills his bags, right?

246
00:19:07,206 --> 00:19:07,486
Sure.

247
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Now that they've got a big footprint in mining and they hold Bitcoin and they have ETS and they have blah, blah, blah, blah, blah.

248
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Well, I don't think.

249
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Then maybe he knows full well that he wanted to get, you know, they want to get that in place.

250
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I don't know.

251
00:19:21,966 --> 00:19:24,446
The scorecard comes down to Samurai right now.

252
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And I'm trying, man, to be a happy person.

253
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You're making me angry.

254
00:19:30,206 --> 00:19:30,886
We should be.

255
00:19:30,966 --> 00:19:36,226
I don't think they've delivered clearly on most of the promises other than Ross.

256
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i think i take that very seriously and i think that was enough in a lot of ways and and i wish

257
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they did nothing else in some ways instead of i guess i just don't i guess but my seizing bitcoin

258
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i'm not a fan of my i guess doubt comes from is this is the pardon of um coming from a place of

259
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sincerity or is it coming no i don't think is it coming from a political promise and trying to keep

260
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the what's very disconcerting to me is he spoke about keone when the reporter and and he knows

261
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this man's life is in his hands yeah he jokes that it sounds like he's innocent he says we're

262
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going to hand this off to our team and then nothing and this man goes to like this this is not like

263
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If you are truly a compassionate person, I mean, look, you can't respond to every single issue.

264
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I get that.

265
00:20:33,226 --> 00:20:35,246
But this is one that was brought to your attention.

266
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You noted it.

267
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You should act on things that you speak on.

268
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Right.

269
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He's going, well.

270
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That to me is a major.

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I mean, he speaks on all sorts of stuff.

272
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Well, then don't do that then.

273
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Well, that's just who he is.

274
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Or have a team that follows up and prioritizes based on timing and justice.

275
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That has been, well, I don't want to make this a political show about Epstein and everything else.

276
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But, I mean, there's a lot of rhetoric and there's a lot of things that I think after he runs his mouth, there's a little bit of like, hey, maybe we need to rethink that.

277
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From his team, from people around him, from advisors, whoever.

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Pongiorno's getting back in podcasting.

279
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All right, let's get on to the next topic here.

280
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We should have him on the show.

281
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okay core versus knots uh looking back at the core v30 op return change what did the intensity

282
00:21:32,426 --> 00:21:38,086
of the debate reveal about bitcoin's governance fault and what does that imply for coordinating

283
00:21:38,086 --> 00:21:41,346
far more consequential upgrades in the future like quantum resilience

284
00:21:41,346 --> 00:21:50,166
i think this was a crossroads i think this shed a lot of light um i don't think the issue at hand

285
00:21:50,166 --> 00:22:01,966
is as egregious as maybe the battle felt um and i i still think that's i mean people are looking

286
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at a fork soft fork so i think that's still reverberating but something i keep coming i'm

287
00:22:09,166 --> 00:22:16,166
starting to look at or come back to is that blocks are still four megabytes so this wasn't going to

288
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affect that and that's a great thing so my positive take on this whole debate was that

289
00:22:25,766 --> 00:22:31,706
there's still a lot of people in bitcoin that are not going to trust anybody

290
00:22:31,706 --> 00:22:39,986
and they're going to try and verify what the real situation is so if anything to me

291
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has showed that we still have a significant immune response within the core of not not core but

292
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within the culture of bitcoin to question things and i think that's positive right that that we're

293
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not the the the bitcoin community is not going to just let this stuff go without being questioned

294
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and without being reviewed and dug into

295
00:23:08,966 --> 00:23:11,826
and to really try and understand what's happening

296
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to see if there's a real threat there.

297
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So I think that's a positive way to look at this debate.

298
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I still feel like if at some point in the future,

299
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quantum becomes a real threat,

300
00:23:29,206 --> 00:23:32,026
that there's so much value locked up in Bitcoin

301
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that consensus can be had.

302
00:23:35,786 --> 00:23:40,366
because everybody risks losing their life's work.

303
00:23:41,786 --> 00:23:47,846
So I don't buy the debate that this shows us

304
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that we're going to get destroyed by quantum.

305
00:23:50,306 --> 00:23:52,206
No, I don't think it shows that.

306
00:23:53,006 --> 00:23:56,706
But I think it revealed a certain level of immaturity.

307
00:23:59,626 --> 00:24:02,286
And I think that's sort of natural.

308
00:24:02,286 --> 00:24:05,946
I mean, Bitcoin is a very young network and protocol.

309
00:24:06,366 --> 00:24:09,446
And it's an open source boardroom.

310
00:24:09,686 --> 00:24:11,306
Like, there is no leader, right?

311
00:24:11,466 --> 00:24:13,586
So these things are always messy.

312
00:24:14,846 --> 00:24:20,486
And you're going to have opinions, and you're going to have disagreements, which is fine.

313
00:24:21,806 --> 00:24:22,286
Right?

314
00:24:22,346 --> 00:24:25,766
Like, the best government we have is when they can't achieve anything.

315
00:24:27,026 --> 00:24:27,506
Right?

316
00:24:27,506 --> 00:24:35,986
so um again i guess it's like don't trust verify and i'm hopeful because that's still alive in

317
00:24:35,986 --> 00:24:41,606
bitcoin when we stop questioning these things when we stop calling everybody out when the community

318
00:24:41,606 --> 00:24:47,546
just rolls over and just goes oh well yeah i guess okay that that's when i think you should

319
00:24:47,546 --> 00:24:52,686
be afraid let me read uh shinobi's words here from bitcoin magazine back in september

320
00:24:53,546 --> 00:24:56,346
This is sort of, he's alluding to not supporters here.

321
00:24:56,426 --> 00:24:58,006
What they do matters, not what they say.

322
00:24:58,346 --> 00:25:00,406
Just trying to show both sides as much as we can.

323
00:25:01,006 --> 00:25:03,586
Not supporters proclaim themselves defenders of Bitcoin,

324
00:25:04,046 --> 00:25:08,046
here to ensure it remains a decentralized, censorship-resistant money.

325
00:25:08,506 --> 00:25:11,226
But their actions push towards the exact opposite goal.

326
00:25:11,826 --> 00:25:14,546
The things they do to champion mining decentralization

327
00:25:14,546 --> 00:25:17,526
actually create dynamics that worsen its centralization.

328
00:25:18,166 --> 00:25:22,066
While proclaiming Bitcoin as money and defending its use as such,

329
00:25:22,066 --> 00:25:27,046
Their chief goal, the software they release and run actively undermines multiple layer twos,

330
00:25:27,186 --> 00:25:30,246
whose entire purpose is to scale Bitcoin's use as money.

331
00:25:30,746 --> 00:25:35,286
They are literally fully engaged in a campaign with the end goal of preventing certain kinds

332
00:25:35,286 --> 00:25:40,446
of Bitcoin transaction from being made while proclaiming themselves defenders of Bitcoin.

333
00:25:40,926 --> 00:25:45,186
At the end of the day, this is an open network and people can run whatever software they want

334
00:25:45,186 --> 00:25:46,626
to interact with that open network.

335
00:25:47,026 --> 00:25:49,366
That is a critical and important aspect of Bitcoin.

336
00:25:50,006 --> 00:25:51,166
This is not about software.

337
00:25:51,166 --> 00:25:56,926
this is about people this this is about the stated goals the stated values of bitcoin in this space

338
00:25:56,926 --> 00:26:01,646
being the complete opposite of the actions they engage in i hope that bitcoiners are smart enough

339
00:26:01,646 --> 00:26:06,766
to eventually see the orwellian news speak that has been dominating the entire dispute around

340
00:26:06,766 --> 00:26:11,646
bitcoin core and not over knots over the last few years the party told you to reject the evidence of

341
00:26:11,646 --> 00:26:18,686
your eyes and ears it was their final most essential command i'm not sure what the main

342
00:26:18,686 --> 00:26:24,686
point there was that yeah of contention but johanna shed light on i guess what the way i'm

343
00:26:24,686 --> 00:26:32,526
looking at this and then i i'm not taking one side or the other because when i've heard both sides

344
00:26:32,526 --> 00:26:39,406
debate they're they're i i'm seeing straw man arguments on both sides and i'm seeing people

345
00:26:39,406 --> 00:26:47,246
talk past each other and i'm i'm seeing people use language that kind of you know um frames things

346
00:26:47,246 --> 00:26:53,806
in a way just for debate and just for argument and i i see rights and wrongs on both sides

347
00:26:53,806 --> 00:27:01,646
so i think the best that we can uh expect out of all this is that there's multiple clients

348
00:27:02,686 --> 00:27:09,006
multiple ways for you to interact with bitcoin the more uh options there are the less censorship

349
00:27:09,006 --> 00:27:14,206
there will be on the network and the less censorable bitcoin will be and i think that's

350
00:27:14,206 --> 00:27:17,106
that's the positive outlook from this.

351
00:27:17,786 --> 00:27:19,746
I don't think they're ever going to agree, right?

352
00:27:20,306 --> 00:27:22,746
These teams are not going to have a kumbaya moment

353
00:27:22,746 --> 00:27:24,826
and go, oh, yeah, there's a happy medium.

354
00:27:25,246 --> 00:27:28,786
That's not, there's a lot of passion on both sides.

355
00:27:28,866 --> 00:27:30,846
I think that passion is probably good.

356
00:27:32,786 --> 00:27:35,726
The passion in the debate is probably good for Bitcoin.

357
00:27:36,226 --> 00:27:39,506
We don't necessarily all need to be on the same page.

358
00:27:39,506 --> 00:27:55,732
that uh and and you know and until uh but i don trust any of them anymore which i think is a good thing don trust verify uh and the system will continue to evolve and we figure out i think different

359
00:27:55,732 --> 00:28:01,252
and better ways to come to consensus yeah yeah so uh all right let's move on to the next uh let's

360
00:28:01,252 --> 00:28:06,692
move on to the landing round before we do uh this is kind of brought to you by federal i can subscribe

361
00:28:06,692 --> 00:28:15,552
The big dream of everybody in the Bitcoin industry, everybody in crypto has always been fix the money, fix the world.

362
00:28:15,552 --> 00:28:21,992
The profound idea is rebuild the entire world's monetary order on digital technology.

363
00:28:22,352 --> 00:28:36,672
So you start with this idea of digital assets, which offer the promise of, you know, speed of light between 8 billion computers and 8 billion computers a million times an hour in self-care.

364
00:28:36,692 --> 00:28:40,932
custody on an Android phone, 24, 7, 365, everywhere, right?

365
00:28:41,032 --> 00:28:43,092
That's the digital asset vision.

366
00:28:43,092 --> 00:28:47,832
And that applies to digital tokens, digital securities, digital commodities,

367
00:28:48,672 --> 00:28:50,612
you know, digital currencies, right?

368
00:28:50,652 --> 00:28:53,372
That's what holds the entire digital industry together.

369
00:28:53,912 --> 00:28:59,732
And then the next piece of that is building a digital capital structure on top

370
00:28:59,732 --> 00:29:00,752
of a digital commodity.

371
00:29:00,952 --> 00:29:02,972
That's Bitcoin is store of value.

372
00:29:02,972 --> 00:29:08,792
And once you get digital capital, you start thinking the third idea is digital credit.

373
00:29:09,612 --> 00:29:16,292
What if I strip 90% of the risk and 90% of the vol off the digital capital by over collateralizing

374
00:29:16,292 --> 00:29:23,012
at 10 to 1? What if you issue $1 of digital credit for every $10 of digital capital every year,

375
00:29:23,112 --> 00:29:29,852
right? That is the perfect product. I submit to you, I used to think the iPhone was the perfect

376
00:29:29,852 --> 00:29:34,092
product but the iphone you got to actually be able to hold it and look at it and you got to be awake

377
00:29:34,092 --> 00:29:40,412
or maybe be able to hear or be able to see but you know a bank account that pays you eight percent

378
00:29:40,412 --> 00:29:46,812
or seven percent you could be deaf dumb blind and a coma unborn child you still want

379
00:29:52,412 --> 00:29:56,252
i don't hear you what do you think of those two clips i think we're or

380
00:29:56,252 --> 00:30:04,952
we have been able to watch sailors transition in real time going from bitcoin centric to

381
00:30:04,952 --> 00:30:16,032
micro strategy centric and uh from bitcoin is hope to let's uh build a digital economy with

382
00:30:16,032 --> 00:30:20,992
digital credit i mean it's it's like he's i mean he's at the end of the day right he's

383
00:30:20,992 --> 00:30:27,172
he's got the Bitcoin and now he wants to build a business around it and he's

384
00:30:27,172 --> 00:30:29,912
going to build products and services and you can't,

385
00:30:29,912 --> 00:30:31,732
can't blame him for that. I mean, he's going to,

386
00:30:31,792 --> 00:30:32,932
he's going to do what it needs,

387
00:30:33,152 --> 00:30:37,972
what he needs to do to make micro strategy the future of finance.

388
00:30:39,452 --> 00:30:44,472
So do you think he's refining Bitcoin for the traditional markets in the way

389
00:30:44,472 --> 00:30:48,472
Rockefeller or, you know, refined oil to, you know,

390
00:30:48,472 --> 00:30:53,072
You had propane, and then you had oil, and then you were finding even further enough gas.

391
00:30:53,072 --> 00:30:55,092
No, I think he told you exactly what he's thinking.

392
00:30:55,312 --> 00:30:58,492
He wants to build the killer app.

393
00:30:58,572 --> 00:31:07,372
He wants to build products and services that is going to make his business incredibly profitable and large

394
00:31:07,372 --> 00:31:09,892
and make him one of the richest people in the world.

395
00:31:09,892 --> 00:31:13,552
And I think he believes this.

396
00:31:14,172 --> 00:31:15,952
He's passionate about it.

397
00:31:15,952 --> 00:31:27,732
I don't maybe fall as much down the conspiracy rabbit hole as other people do about his having overall bad intentions from the beginning.

398
00:31:28,612 --> 00:31:36,012
But it's just he's going to build out what he thinks is going to make his business very successful.

399
00:31:36,052 --> 00:31:37,492
Let's say his intentions are awesome.

400
00:31:37,632 --> 00:31:39,152
I mean, he's been great for Bitcoin.

401
00:31:39,352 --> 00:31:44,392
Let's say, do you think he's recreating money in the way that there was private money in the 1800s?

402
00:31:44,392 --> 00:31:46,732
and this money, this is better money.

403
00:31:46,952 --> 00:31:47,692
He says he is.

404
00:31:47,872 --> 00:31:49,992
At the same time,

405
00:31:50,172 --> 00:31:52,532
or is he just offering better credit and yield?

406
00:31:52,592 --> 00:31:54,612
The other thing I think I felt

407
00:31:54,612 --> 00:31:56,512
when I heard him say that

408
00:31:56,512 --> 00:31:59,052
was he's disclosing.

409
00:32:00,912 --> 00:32:03,112
He's probably had these conversations

410
00:32:03,112 --> 00:32:05,212
with JP Morgan and other big banks.

411
00:32:05,212 --> 00:32:05,812
They definitely are.

412
00:32:06,252 --> 00:32:08,072
And he's telling the world,

413
00:32:08,912 --> 00:32:12,332
this is what can be done.

414
00:32:12,332 --> 00:32:19,012
so by telling that story publicly and openly like he's sort of forcing

415
00:32:19,012 --> 00:32:25,192
all the big banks and wall street to move in that direction because he's saying he's going to do it

416
00:32:25,192 --> 00:32:33,232
with or without them so it's it's kind of like by selling the world on the idea and open sourcing it

417
00:32:33,232 --> 00:32:41,852
he's forcing the uh embedded players in the largest financial system in the world

418
00:32:41,852 --> 00:32:44,792
to have to move to play chess.

419
00:32:45,432 --> 00:32:48,452
He's forcing the game, so to speak, right?

420
00:32:51,632 --> 00:32:52,112
And...

421
00:32:52,112 --> 00:32:53,332
Well, they play chess back.

422
00:32:53,332 --> 00:32:54,272
So, I mean, that's, you know,

423
00:32:54,332 --> 00:32:58,452
is that a good thing or a bad thing for...

424
00:32:59,172 --> 00:33:00,112
What about volatility?

425
00:33:00,112 --> 00:33:02,212
And also, I think people have to parse out,

426
00:33:02,332 --> 00:33:04,892
like, what is good for the government

427
00:33:04,892 --> 00:33:08,032
and big business may not necessarily be good for you.

428
00:33:08,912 --> 00:33:09,432
Right?

429
00:33:09,592 --> 00:33:11,452
And I think this is where Bitcoiners...

430
00:33:11,852 --> 00:33:17,312
stumble or have issue with Saylor, right? Because...

431
00:33:17,312 --> 00:33:18,452
I think we should play a clip right now.

432
00:33:18,452 --> 00:33:19,052
All right, go ahead.

433
00:33:19,392 --> 00:33:20,712
Can we play the Jeff Booth clip?

434
00:33:20,872 --> 00:33:22,832
I just recorded this with Jeff Booth.

435
00:33:22,932 --> 00:33:25,352
And I think this is the question or the issue of the year.

436
00:33:25,892 --> 00:33:27,012
This is not financial advice.

437
00:33:27,012 --> 00:33:29,452
It's not about whether Michael...

438
00:33:29,452 --> 00:33:30,992
Yeah, can we just play the clip?

439
00:33:31,772 --> 00:33:34,872
I'll give you a framework that two different starting points

440
00:33:34,872 --> 00:33:37,312
would give you drastically different outcomes.

441
00:33:37,552 --> 00:33:38,832
If you saw...

442
00:33:38,832 --> 00:33:40,572
And Michael Saylor is a friend, right?

443
00:33:40,572 --> 00:33:42,392
And I think he's been really good for Bitcoin.

444
00:33:42,772 --> 00:33:52,452
And I categorically disagree with him on this issue that I'm going to say and how he views the world and how I view the world through this lens.

445
00:33:52,452 --> 00:34:02,772
If you thought Bitcoin was an asset and your view it was the best asset of all time and it couldn't be taken, then you'd have to ask, what is an asset?

446
00:34:03,032 --> 00:34:07,772
An asset has always underlined money because we couldn't trust money.

447
00:34:07,772 --> 00:34:12,092
We could never store our time in money because money was always broken.

448
00:34:12,372 --> 00:34:17,492
So we always had to find assets to store our value because money was broken.

449
00:34:17,752 --> 00:34:23,032
And if you held more assets, you did better than everybody else because money was more broken and they didn't have the asset.

450
00:34:23,692 --> 00:34:30,612
And if you saw Bitcoin as an asset, then it would make perfect sense to try to control all the Bitcoin, get it all,

451
00:34:30,612 --> 00:34:37,712
and then leverage on top of that and all of the broken money and then create instruments from that.

452
00:34:38,112 --> 00:34:42,932
And all you would have done with the entire world structure is create new kings, right?

453
00:34:43,352 --> 00:34:47,092
Same zero-sum game that we've always lived in with different rulers.

454
00:34:47,652 --> 00:34:52,632
But from that system, if it looked like that, Bitcoin would get centralized and it would fail

455
00:34:52,632 --> 00:34:54,532
because it would get centralized.

456
00:34:54,832 --> 00:35:00,492
If you saw now, so one framework, Bitcoin is an asset within a control system.

457
00:35:00,612 --> 00:35:07,092
A different framework, a different starting point, is it's a protocol coming in layers,

458
00:35:07,092 --> 00:35:12,692
adding more functionality like the internet bounded by energy. So it's an open, decentralized,

459
00:35:12,692 --> 00:35:19,732
secure protocol bounded by energy. That's the first layer. The asset that they think is an asset

460
00:35:19,732 --> 00:35:25,732
is a protocol and different layers are building to provide more functionality like privacy,

461
00:35:25,732 --> 00:35:36,712
like communications in Noster and in transfer of value in Lightning and ARK and Spark and everything else.

462
00:35:37,252 --> 00:35:42,092
And that protocol layer is emerging where the protocol is repricing everything.

463
00:35:42,992 --> 00:35:45,352
And now you can store your money in money.

464
00:35:46,032 --> 00:35:51,452
So those two scenarios produce radically different opportunities.

465
00:35:51,452 --> 00:36:11,672
One, if you're thinking of it as a protocol, you're building value in the layers of the protocol and you're building society in a world that's never existed where prices constantly fall and we contribute in the first global free market to each other through that vehicle.

466
00:36:11,672 --> 00:36:20,012
If you're pricing in the asset only, then you're contributing to the centralization of Bitcoin.

467
00:36:21,452 --> 00:36:25,172
These things cannot coexist long term.

468
00:36:25,372 --> 00:36:27,572
It's impossible for them to coexist long term.

469
00:36:27,772 --> 00:36:27,992
Why?

470
00:36:28,512 --> 00:36:30,832
Because the natural state of the free market is deflation.

471
00:36:31,532 --> 00:36:37,352
Because the free market, the value that we create for each other has to come to us.

472
00:36:37,352 --> 00:36:42,972
And the other system has to absorb that value into a control system.

473
00:36:43,332 --> 00:36:46,132
They're incompatible, completely incompatible at times.

474
00:36:46,552 --> 00:36:52,892
So now the question is, is it a protocol emerging in layers or is it an asset?

475
00:36:53,792 --> 00:36:55,952
And for a time, it could look like both.

476
00:36:56,112 --> 00:36:58,172
But over time, we will see it's a protocol.

477
00:36:59,372 --> 00:37:05,952
And that means a lot of people that are taking risks on somebody else's Bitcoin

478
00:37:05,952 --> 00:37:08,972
could also get liquidated in time.

479
00:37:10,812 --> 00:37:13,332
You think Bitcoin could fix Jeff's mic?

480
00:37:15,312 --> 00:37:16,572
I heard him.

481
00:37:17,472 --> 00:37:18,412
I mean, he's brilliant.

482
00:37:18,572 --> 00:37:19,212
I love Jeff.

483
00:37:20,172 --> 00:37:20,832
Well said.

484
00:37:21,752 --> 00:37:23,792
And when he was talking there,

485
00:37:23,792 --> 00:37:27,492
what reminded me when I was listening to Sailor

486
00:37:27,492 --> 00:37:30,752
describe his digital dollar

487
00:37:30,752 --> 00:37:34,012
and the high interest on that dollar

488
00:37:35,952 --> 00:37:42,712
all I could be thinking about was all the people that would get that and not own Bitcoin.

489
00:37:43,712 --> 00:37:50,852
All the people that would be happy with that and opt into that system as opposed to owning real Bitcoin.

490
00:37:52,712 --> 00:37:57,292
And in the same, you know, he's literally telling you, I mean, Sailor has said this so many times,

491
00:37:57,292 --> 00:38:01,412
if you want to get rich, you want to build wealth, own Bitcoin.

492
00:38:02,032 --> 00:38:04,732
You want to have an income, own this credit.

493
00:38:05,952 --> 00:38:12,132
and I understand it meets different needs for different people at certain points in their

494
00:38:12,132 --> 00:38:20,192
life, but everybody needs to have real Bitcoin. If you don't need it for yourself, then you need

495
00:38:20,192 --> 00:38:31,172
it for your kids. You need it for the future younglmens, right? And I think this is what

496
00:38:31,172 --> 00:38:38,052
really pains some of us Bitcoiners when we see the financialization of Bitcoin and we see as much

497
00:38:38,052 --> 00:38:42,572
as we love Sailor, love what he's done for Bitcoin and the way he talks about Bitcoin has been so

498
00:38:42,572 --> 00:38:49,532
brilliant. I mean, like the what is money 16 series with Sailor that Breedlove did just

499
00:38:49,532 --> 00:38:57,132
changed me forever, right? Like so good. But then to see this, you're realizing that

500
00:38:57,132 --> 00:39:03,612
he's building products and services that are going to pull people away from owning the truth

501
00:39:03,612 --> 00:39:08,832
to owning the thing that will last forever, that'll be here, the bedrock under New York,

502
00:39:08,832 --> 00:39:14,032
like he talks about. The thing that's so important that everybody should have at least some.

503
00:39:15,172 --> 00:39:21,952
Don't get caught up in the financialization, Wall Street 2.0 that he's building

504
00:39:21,952 --> 00:39:26,152
until you have your Bitcoin, right?

505
00:39:26,412 --> 00:39:27,272
Get that.

506
00:39:27,372 --> 00:39:28,152
Get that in place.

507
00:39:28,252 --> 00:39:29,332
Get it in self-custody

508
00:39:29,332 --> 00:39:33,152
because that's the most important thing you can do.

509
00:39:34,012 --> 00:39:34,652
Yeah, I agree.

510
00:39:35,312 --> 00:39:35,732
Thanks, man.

511
00:39:35,732 --> 00:39:37,412
All right, let's move on to the next one here.

512
00:39:38,452 --> 00:39:41,912
The Genius Act and stablecoins taking center stage.

513
00:39:43,492 --> 00:39:47,212
Is there anything else we could say about stablecoins?

514
00:39:47,732 --> 00:39:51,552
Do you think that this is a bridge to Bitcoin?

515
00:39:51,952 --> 00:39:58,812
and not a forever walled garden that they're sort of erecting.

516
00:39:58,812 --> 00:40:08,052
Sure. I mean, I can see it as a bridge, especially for parts of the world where they don't have a functioning financial system,

517
00:40:08,152 --> 00:40:13,792
where their currency is inflating at 45%, 50% a year, a month, or whatever.

518
00:40:15,012 --> 00:40:16,512
These people need a stable coin.

519
00:40:16,512 --> 00:40:22,052
They need to have a checking account in their wallet before they can have savings, before they can invest in Bitcoin.

520
00:40:22,772 --> 00:40:27,492
So in that regard, I can see it as a stepping stone into Bitcoin.

521
00:40:28,492 --> 00:40:35,572
But at the same time, just like what I described with Sailor, don't miss the forest through the trees, right?

522
00:40:35,572 --> 00:40:39,292
Like there is one real asset.

523
00:40:39,812 --> 00:40:43,072
There's one real significant change in the world, and it is Bitcoin.

524
00:40:43,812 --> 00:40:45,852
Everything else is a derivative of that.

525
00:40:46,512 --> 00:40:52,912
uh and and if if you get if you start chasing all those shiny objects you're going to miss

526
00:40:52,912 --> 00:40:58,992
the most important thing the one true thing the one asset without an issuer the most pristine

527
00:40:58,992 --> 00:41:04,592
collateral on the planet on and on and on you're going to miss that thing that will build wealth

528
00:41:04,592 --> 00:41:10,512
for your family in perpetuity because you're buying securities you're buying non-fungible

529
00:41:10,512 --> 00:41:15,392
tokens you're buying jp you know you're buying these jpegs you're buying real world assets

530
00:41:15,392 --> 00:41:20,112
whatever they may be because it's on a blockchain and it's so cool and new right

531
00:41:22,032 --> 00:41:25,392
it's not going to change your life right the cat video that became netflix

532
00:41:26,592 --> 00:41:31,072
didn't really change your life and maybe gave you some entertainment and a cheaper

533
00:41:31,072 --> 00:41:46,958
thing to interact with but it didn change your life yeah all right i agree get the real thing take self um that at Bitcoin buy federal ATMs If you enjoying the show please hit like and subscribe What do you think

534
00:41:46,958 --> 00:41:57,518
about Bukele here and the IMF? Let me ask you that question. You were on this early saying that

535
00:41:57,518 --> 00:42:02,398
you didn't think that these were real purchases, right? And it's looking more and more like it's

536
00:42:02,398 --> 00:42:07,998
not so where how do you feel about this with i mean bukele is another one of those that like

537
00:42:08,798 --> 00:42:15,438
really woke the world up to bitcoin and did some amazing things and got everybody very excited i

538
00:42:15,438 --> 00:42:19,438
think he's still doing a lot of amazing things especially for his country and his people

539
00:42:20,558 --> 00:42:28,078
i mean as as a leader of his country seems like he's achieved a lot for el salvador um so but you

540
00:42:28,078 --> 00:42:35,438
know and like i we were all so excited that he was pushing back on the imf so like it's kind of hard

541
00:42:35,438 --> 00:42:43,998
to have like a world view where you're like all politicians are bad and then you say well there

542
00:42:43,998 --> 00:42:49,998
could be no good ones i mean how you know but you well i think that there's a system here that

543
00:42:49,998 --> 00:42:56,718
doesn't allow you to gain power without being corrupted or uh or you know so you don't get

544
00:42:56,718 --> 00:43:03,998
into the club until you've been captured and so then if you then then so when you kind of say oh

545
00:43:03,998 --> 00:43:09,918
you carve anyone out of that you're saying it's like an irrational thought in a way to say you

546
00:43:09,918 --> 00:43:14,958
know i i believe in this construct that there can't be a good politician and i'm not saying

547
00:43:14,958 --> 00:43:23,998
that's that's so that's kind of how i feel uh i mean at a certain level i'm not talking about

548
00:43:23,998 --> 00:43:28,318
about your local politics where i think your vote actually might actually be counted and mattered

549
00:43:28,318 --> 00:43:36,818
and so i think it's just so what a lot of what you see is about someone you might i like that

550
00:43:36,818 --> 00:43:43,318
but then there are these like uh these red flags like i remember my friends were really into hardcore

551
00:43:43,318 --> 00:43:49,378
like like gangster rap like just you know and then like they really like like biggie and tupac

552
00:43:49,378 --> 00:43:51,898
And it's like, how can you like, in a lot of ways,

553
00:43:51,998 --> 00:43:55,078
when you do guilty by association, it's like, well, Biggie's so tough.

554
00:43:55,118 --> 00:43:56,038
Why is he hanging out with Diddy?

555
00:43:57,078 --> 00:44:00,058
And even back then, I think certain things could like rub you wrong.

556
00:44:00,138 --> 00:44:02,598
That'd be hard to like, just even you could say like,

557
00:44:02,738 --> 00:44:03,838
like glitches in the matrix,

558
00:44:03,938 --> 00:44:06,718
like Diddy coming out dancing two weeks after Biggie dies.

559
00:44:06,998 --> 00:44:08,518
Like that's not what friends do.

560
00:44:10,518 --> 00:44:13,038
You know, and some people, you point that out, people say, well,

561
00:44:13,138 --> 00:44:16,578
maybe he's MTV music awards or, you know, so.

562
00:44:16,578 --> 00:44:20,698
I think things with Bukele aren't always what they seem, probably.

563
00:44:21,678 --> 00:44:23,018
And you hear these great stories.

564
00:44:23,278 --> 00:44:27,238
Can you run a country and be perfect?

565
00:44:28,318 --> 00:44:32,958
Can you get to any level of power and do everything right?

566
00:44:32,958 --> 00:44:43,218
How can you be a Bitcoin ethos company and then cut the deals you do with the IMF or work with the Trump regime around prisoners?

567
00:44:43,218 --> 00:44:51,378
i think well this is like this is the sailor thing too right like there's the there's bitcoin

568
00:44:51,378 --> 00:44:56,178
and then there's running your business and running your country so i think that those are done what's

569
00:44:56,178 --> 00:45:03,058
right for el salvador necessarily always aligned right i think if at your best case scenarios i

570
00:45:03,058 --> 00:45:07,298
think i think it's quite but i think okay has been great for el salvador in the sense that

571
00:45:08,258 --> 00:45:10,818
bitcoin is a great marketing plan look at steak and shake

572
00:45:12,898 --> 00:45:17,378
right you could be a struggling fast food restaurant you latch on to what you see is

573
00:45:17,378 --> 00:45:22,978
trending on social media you try it out more people come it generates good buzz it's just

574
00:45:22,978 --> 00:45:27,618
it's aligned incentives now they're a bitcoin company but i don't think that they intended to

575
00:45:27,618 --> 00:45:33,698
become one and and they so it's a great thing what's happened but so so look at like something

576
00:45:33,698 --> 00:45:39,538
like el salvador i think by getting on a by going into a bitcoin standard whatever that means

577
00:45:39,538 --> 00:45:46,818
that brings new levels of tourism investment real estate development maybe uh at an order

578
00:45:46,818 --> 00:45:51,938
uh order of magnitude greater than neighboring countries that have better real estate raw real

579
00:45:51,938 --> 00:45:58,018
estate or better raw beaches or better these things so you know could bring a lot of attention

580
00:45:58,018 --> 00:46:03,058
and i mean development doesn't yeah it has changed i mean i've seen on the trips i've

581
00:46:03,058 --> 00:46:08,178
made to el sable i've seen dramatic change right i mean they they have done amazing things for that

582
00:46:08,178 --> 00:46:16,738
country and bitcoin was a part of that right wrong uh you know wins losses that becali has had along

583
00:46:16,738 --> 00:46:24,178
the way um again i come back to i i don't know if you can be in a position of that much power with

584
00:46:24,178 --> 00:46:28,258
that much responsibility if you look at something if you look at something like covet if you look

585
00:46:28,258 --> 00:46:33,218
at something like coven and sort of the uniform universal global response and i don't think that

586
00:46:33,218 --> 00:46:37,538
was just organic i don't think it was emergent right and you look it's like something like that

587
00:46:37,538 --> 00:46:44,178
you say wow that just appears just i can't see how that's not coordinated and so then it's like oh

588
00:46:44,178 --> 00:46:50,018
here's money i i don't think they coordinate on this issue so i see something like bukele and

589
00:46:50,578 --> 00:46:55,538
malay and my my cynical mind says those must be outposts for the cia the nsa

590
00:46:55,538 --> 00:46:57,838
they're allowed to happen.

591
00:46:57,938 --> 00:46:58,778
They're test cases.

592
00:46:59,118 --> 00:47:00,738
So you can have test cases

593
00:47:00,738 --> 00:47:02,618
that are both good and bad for humanity

594
00:47:02,618 --> 00:47:06,058
that maybe not great people coordinate

595
00:47:06,058 --> 00:47:07,678
and try to see what happens.

596
00:47:10,178 --> 00:47:12,038
And I don't think that there's been

597
00:47:12,038 --> 00:47:15,758
real Bitcoin ethos in El Salvador around,

598
00:47:17,218 --> 00:47:19,258
you know, they stopped with the legal tender.

599
00:47:19,718 --> 00:47:20,438
They rolled that back.

600
00:47:20,758 --> 00:47:22,298
I mean, they stopped buying.

601
00:47:22,298 --> 00:47:23,658
I understand what you're saying.

602
00:47:23,658 --> 00:47:29,258
a lot a lot of even just rolling it out as legal tender is forced that's coercion that's not a very

603
00:47:29,258 --> 00:47:35,898
emergent i understand i do understand what you're saying but at the same time it's custodial by

604
00:47:35,898 --> 00:47:45,178
making it a bitcoin friendly country many people have moved there had influence at the grassroot

605
00:47:45,178 --> 00:47:51,098
level uh bitcoin beach is a great example right and some people and they've they've taught

606
00:47:51,818 --> 00:47:58,938
a whole new generation about a new future that could be built with bitcoin even though mccale

607
00:47:58,938 --> 00:48:04,858
may have had may have had to make compromises with the imf and and maybe he couldn't fully

608
00:48:04,858 --> 00:48:10,938
implement the bitcoin dream that he proposed early on you can't have still gonna have a gun

609
00:48:10,938 --> 00:48:17,258
still having good you can't have a gun there you can't uh use marijuana there

610
00:48:17,258 --> 00:48:24,218
mm-hmm uh so just in terms of freedom and what is freedom and what should be free to be debated

611
00:48:24,218 --> 00:48:31,258
it's on the spectrum the the the commercial about the prisoners scared the living out of me

612
00:48:33,018 --> 00:48:41,178
like i i mean i get there's two sides to every story and you try to balance them both and i try

613
00:48:41,178 --> 00:48:48,698
to balance both in my mind yeah and can hold two contradictory thoughts like yeah i'm just i guess

614
00:48:48,698 --> 00:48:56,298
i'm not of the i i i think when i look at that and i just don't know if we're being co-opted in this

615
00:48:56,298 --> 00:49:02,938
story over the longer term because you can have hope you can see progress and then things can be

616
00:49:02,938 --> 00:49:07,418
turned off with a light switch yes and the way i think we don't know you know i'm having a

617
00:49:07,418 --> 00:49:12,838
been conversation with Aaron Day come out early next year about, you know, the Trump administration

618
00:49:12,838 --> 00:49:20,198
has probably pulled forward 10 times what a Harris Biden administration could have done in terms of

619
00:49:20,198 --> 00:49:29,198
crypto surveillance. Yeah. Right. So things aren't always what they seem and over a longer arc could

620
00:49:29,198 --> 00:49:35,818
be very regretful. Yes. But at the same time, and this is the way the world works, right? This way

621
00:49:35,818 --> 00:49:44,038
the universe works as if that could all be true and probably most of it is but simultaneously

622
00:49:44,038 --> 00:49:50,338
you're infecting yeah the mind virus of bitcoin is infecting people around the globe

623
00:49:50,338 --> 00:49:57,558
and especially younger kids with a vision of the future that's completely different that they could

624
00:49:57,558 --> 00:50:03,718
not have imagined and and so yeah you might be losing on one battlefront and winning on another

625
00:50:03,718 --> 00:50:11,498
simultaneously, but everything is progressing forward. And if, you know, Jeff Booth is right,

626
00:50:12,038 --> 00:50:18,358
and we have an unstoppable protocol, then we need that mind virus to spread.

627
00:50:18,578 --> 00:50:25,458
And we need to incite builders to build freedom tech, because they believe in that vision.

628
00:50:26,018 --> 00:50:32,338
So even though your leader may be trying to oppress that vision, if the message is there,

629
00:50:32,338 --> 00:50:35,258
and the belief is there that that's a potential,

630
00:50:37,418 --> 00:50:38,738
humanity will move forward.

631
00:50:41,138 --> 00:50:42,778
And that's why I think...

632
00:50:42,778 --> 00:50:46,278
Do you see El Salvador as a place you would move

633
00:50:46,278 --> 00:50:47,378
if you had to flee America?

634
00:50:47,658 --> 00:50:47,958
No, no, no.

635
00:50:49,998 --> 00:50:52,718
I don't, I mean, that's just my personal thing, though.

636
00:50:53,218 --> 00:50:56,478
Does that not say a lot about the leader?

637
00:50:56,478 --> 00:50:57,418
That has nothing to do with Bitcoin.

638
00:50:57,918 --> 00:51:00,058
But if, well, I think it does.

639
00:51:00,058 --> 00:51:00,678
For me, it doesn't.

640
00:51:00,698 --> 00:51:01,498
I think it does.

641
00:51:01,498 --> 00:51:08,618
for me it doesn't i i think it does no i wouldn't i wouldn't i you know i'm i'm not gonna uh um i i

642
00:51:08,618 --> 00:51:19,658
think if if if it was a more bitcoin-esque country you would say you would feel more like wow yeah i

643
00:51:19,658 --> 00:51:24,618
definitely would go there that that seems like i couldn't be here wow that seems like the place to

644
00:51:24,618 --> 00:51:29,578
be i i can't think of a reason let's go but i can think of a lot of reasons where i'm like well maybe

645
00:51:29,578 --> 00:51:33,738
things aren't the way they seem or it won't always be the way they seem i don't know that

646
00:51:33,738 --> 00:51:37,978
doesn't mean people aren't fighting for things i i look at it totally differently that this is just

647
00:51:37,978 --> 00:51:45,098
more of a personal thing like i don't uh like the environment i live in is is much more important to

648
00:51:45,098 --> 00:51:55,578
me than uh a lot of things and um i so i think i think it's not my the second amendment i think

649
00:51:55,578 --> 00:51:59,498
carries a lot of weight in this just like i like i like there's so many people that love dubai or

650
00:51:59,498 --> 00:52:07,218
love Singapore and, and, and fall in love with the safety and the security that comes from

651
00:52:07,218 --> 00:52:14,458
that kind of surveillance and oppressive regime. I guess that's not the right word. Not, you know,

652
00:52:14,478 --> 00:52:20,798
but I mean, like, you know, Dubai, the UAE is not like, I mean, it feels totally free because it's

653
00:52:20,798 --> 00:52:24,798
so safe. Like you could leave your laptop and right. And you could, you could leave your car

654
00:52:24,798 --> 00:52:28,638
unlocked and, and no one's going to steal anything for it, but just because it's surveilled

655
00:52:28,638 --> 00:52:33,818
and because the repercussions of doing something free and safe is a perspective yes they talked

656
00:52:33,818 --> 00:52:40,178
about with a fraud right right so very like you feel i wouldn't feel free in dubai because like

657
00:52:40,178 --> 00:52:45,698
that doesn't like i get what you're saying like yeah i feel very safe and here right so it's like

658
00:52:45,698 --> 00:52:51,178
i know i feel safe as a community wow this looks like everyone looks safe but like i don't know if

659
00:52:51,178 --> 00:52:58,198
i'm safe it was like it nabbed me freedom comes freedom comes with radical uh acceptance of risk

660
00:52:58,198 --> 00:53:03,558
even true freedom comes with acceptance of risk even in the united states when i go through

661
00:53:03,558 --> 00:53:10,938
security any border yeah and they take your id yeah there's a i feel less safe in that moment

662
00:53:10,938 --> 00:53:15,938
like they just stripped me of my documentation yeah they have more power and more control in

663
00:53:15,938 --> 00:53:20,738
this moment right and that's going through or coming you know either way on the border

664
00:53:20,738 --> 00:53:26,178
when you go into a different country you give up as a citizen of another country you're you're

665
00:53:26,178 --> 00:53:33,218
labeled you have less rights and i think certain countries portray themselves as less welcoming or

666
00:53:33,218 --> 00:53:37,378
sure you know i don't know yeah it's a good question like would you feel more safe in el

667
00:53:37,378 --> 00:53:47,058
salvador or dubai it's hard to say and what what is something if i had to choose one or the other

668
00:53:47,058 --> 00:53:51,858
and then throw in switzerland throwing like switzerland definitely go to el salvador or dubai

669
00:53:51,858 --> 00:53:53,298
okay now throw in switzerland

670
00:53:55,858 --> 00:54:02,978
hmm probably go to switzerland right and i'm sure there's you know but i mean but i don't

671
00:54:02,978 --> 00:54:09,458
that'd be a hard one for me because i like yeah i think i think there's also different threat

672
00:54:09,458 --> 00:54:15,698
factors like maybe even like the dominican you know maybe there's more uh crime on the street

673
00:54:15,698 --> 00:54:21,298
but maybe you could disappear more easily yeah but that's a whole like that i don't know man

674
00:54:21,858 --> 00:54:24,758
Like, you just, like...

675
00:54:24,758 --> 00:54:26,198
I mean, McAfee, McAfee.

676
00:54:26,418 --> 00:54:26,798
Yeah, yeah, yeah.

677
00:54:27,098 --> 00:54:28,338
Look how that worked out really well.

678
00:54:28,338 --> 00:54:29,658
I'm revisiting Snowden, right?

679
00:54:29,698 --> 00:54:30,558
You mentioned before the show.

680
00:54:31,258 --> 00:54:33,818
So there's a video of McAfee who's like,

681
00:54:33,998 --> 00:54:36,418
Snowden is a CIA PSYAP, guys.

682
00:54:36,978 --> 00:54:40,038
He worked, he was a contractor for the CIA or the NSA.

683
00:54:41,138 --> 00:54:43,318
He leaves America, he goes to Hong Kong,

684
00:54:43,378 --> 00:54:44,678
and then he's trying to get to Ecuador

685
00:54:44,678 --> 00:54:46,598
for really no good reason.

686
00:54:46,718 --> 00:54:46,998
Right.

687
00:54:47,718 --> 00:54:49,898
I don't think that really worked out for Sanj.

688
00:54:49,898 --> 00:54:54,898
But to get to Ecuador, he's like, I travel a lot and I would not go through Russia.

689
00:54:55,678 --> 00:54:56,938
It's just not a good route.

690
00:54:57,938 --> 00:54:59,538
And then he gets to Russia and he can't leave.

691
00:54:59,638 --> 00:55:00,318
And I don't know what.

692
00:55:00,578 --> 00:55:02,178
Now, apparently, I was grokking it.

693
00:55:02,258 --> 00:55:03,478
Like, he's a free man in Russia.

694
00:55:05,238 --> 00:55:06,878
I don't buy any of this.

695
00:55:07,858 --> 00:55:11,998
And the girl that he was with at the time he did all this, she is now in Russia.

696
00:55:12,858 --> 00:55:14,318
And she comes and goes.

697
00:55:16,358 --> 00:55:17,718
I don't buy any of it.

698
00:55:17,718 --> 00:55:18,118
Yeah.

699
00:55:18,118 --> 00:55:19,118
Yeah.

700
00:55:19,118 --> 00:55:22,118
I don't buy a lot of these.

701
00:55:22,118 --> 00:55:24,118
Yeah, they don't pass the sniff test.

702
00:55:24,118 --> 00:55:27,118
No, of course not.

703
00:55:27,118 --> 00:55:31,118
Snowden just doesn't get to zoom into conferences and say his piece.

704
00:55:31,118 --> 00:55:33,118
No, he does.

705
00:55:33,144 --> 00:55:37,384
doesn't like that's he gets to say whatever he wants to say then it's either a russian op or a

706
00:55:37,384 --> 00:55:47,944
u.s op or both or both right yeah so yeah i i don't i don't know what what would where would

707
00:55:47,944 --> 00:55:52,584
you go if you had to leave america would you would you go to russia for safety well i mean first of

708
00:55:52,584 --> 00:55:57,304
all like the practical implications of leaving america let's say as a like the america was like

709
00:55:57,304 --> 00:56:06,104
as a bit like it's not safe for bitcoin yeah and you're trying to flee as a bitcoin like do you one

710
00:56:06,104 --> 00:56:12,184
do you go where they're like come tell us you're a bitcoiner document it as an entrance fee

711
00:56:14,184 --> 00:56:17,224
or do you go somewhere where it's like hey why don't you just go somewhere where this

712
00:56:17,224 --> 00:56:21,704
point has nothing to do with being a big point maybe uh maybe africa all right we'll get to

713
00:56:21,704 --> 00:56:25,464
africa in a second all right let's let's move here's let's go let's go with africa

714
00:56:26,264 --> 00:56:27,644
Africa's Bitcoin moment.

715
00:56:27,744 --> 00:56:28,884
I don't get any of this.

716
00:56:29,824 --> 00:56:30,064
Really?

717
00:56:30,324 --> 00:56:31,644
Okay, no, I don't.

718
00:56:32,544 --> 00:56:34,344
It's totally ground up, grassroots.

719
00:56:34,764 --> 00:56:36,464
Yeah, I don't know how meaningful this is.

720
00:56:36,464 --> 00:56:37,504
That's what I mean by this.

721
00:56:37,644 --> 00:56:38,464
I'm being honest.

722
00:56:38,484 --> 00:56:39,384
It's meaningful for them.

723
00:56:39,564 --> 00:56:41,204
Does it need to be meaningful for you?

724
00:56:41,664 --> 00:56:42,904
It doesn't need to be meaningful for you.

725
00:56:42,904 --> 00:56:46,504
No, well, I mean this in the way of, hey, what's going on in El Salvador?

726
00:56:46,644 --> 00:56:47,584
Is it meaningful for me?

727
00:56:47,644 --> 00:56:50,104
But I'm interested, and I think it is meaningful.

728
00:56:50,104 --> 00:56:53,004
Oh, I think what's happening in Africa is so good.

729
00:56:53,004 --> 00:56:53,104
So why?

730
00:56:53,324 --> 00:56:54,864
What is so?

731
00:56:54,864 --> 00:57:03,164
interesting. Okay, so you have basically the people adopting Bitcoin and using it as money

732
00:57:03,164 --> 00:57:13,224
regardless and prior to the state, the different parts of Africa approving

733
00:57:13,224 --> 00:57:21,224
the usage. They just literally grassroots said, hey, we're already operating our own

734
00:57:21,224 --> 00:57:32,624
cash economy with our own banking system. And we can now do this digitally with our phones

735
00:57:32,624 --> 00:57:42,164
over Bitcoin. They're adopting Lightning. They're adopting Sats. It's becoming a currency for the

736
00:57:42,164 --> 00:57:50,304
people. And the people are jumping into the future without permission from the state or the banks.

737
00:57:50,304 --> 00:57:55,364
It's literally just the opposite of what you see happening in the West.

738
00:57:55,484 --> 00:57:58,344
I'm going to go back to my conversation with Aaron Day, which hasn't come out yet.

739
00:57:59,164 --> 00:58:05,064
But he made a point to me, you know, growing up, you'd hear things like you should finish eating whatever's on your plate.

740
00:58:05,144 --> 00:58:06,244
There are kids in China starving.

741
00:58:07,384 --> 00:58:08,844
And you think about China.

742
00:58:09,444 --> 00:58:14,344
Now, the message there, I think, is a greater message of it's destitute.

743
00:58:14,524 --> 00:58:16,304
They're all peasants.

744
00:58:16,304 --> 00:58:21,344
fast forward to 2025 50 of the top 60 technology companies in the world are in china

745
00:58:21,344 --> 00:58:27,604
and maybe what we were hearing in the 80s and 90s wasn't the full story or the truth it was just what

746
00:58:27,604 --> 00:58:39,264
abc cbs and sure so either there's been tremendous progress right from there's like no progress

747
00:58:39,264 --> 00:58:40,344
There's no technology there.

748
00:58:40,424 --> 00:58:47,744
They're all poor and starving to huge cities now and big AI companies and technology companies.

749
00:58:48,464 --> 00:58:50,704
And or there was progress all along.

750
00:58:51,184 --> 00:59:02,144
Well, if you think back to China, right, when we were laying fiber and we were worried about fiber optics and we were getting digital.

751
00:59:03,204 --> 00:59:05,384
I mean, we're getting DSL lines.

752
00:59:05,384 --> 00:59:06,564
They brought to our neighborhood.

753
00:59:07,384 --> 00:59:09,284
They jumped straight to mobile.

754
00:59:09,284 --> 00:59:12,524
But my point is, right, so they did a lot of jumping and development.

755
00:59:12,524 --> 00:59:13,624
And Africa's doing that.

756
00:59:13,624 --> 00:59:14,404
Are we going to see?

757
00:59:14,464 --> 00:59:17,364
Africa's doing that on the Bitcoin system.

758
00:59:17,364 --> 00:59:21,904
Is this going to result in material progress of Africa,

759
00:59:22,904 --> 00:59:25,784
even not all of Africa maybe, but like pockets of government?

760
00:59:25,784 --> 00:59:26,664
Think about it.

761
00:59:27,084 --> 00:59:32,864
Like if you're using Bitcoin as money, think about what Jeff Booth said.

762
00:59:32,864 --> 00:59:41,204
now your money is also your savings vehicle sure and growing what scales is gonna impact

763
00:59:41,204 --> 00:59:46,124
african societies it's gonna that's huge um that's huge i'm trying to learn right like so

764
00:59:46,124 --> 00:59:53,244
if you're if you're if you were just doing that on uh uh on the african what is the the frank or

765
00:59:53,244 --> 00:59:58,004
what the french currency that they used in africa what it's called if you were just doing that and

766
00:59:58,004 --> 01:00:04,024
it's inflating away on a daily basis you're never going to give you for example so in college

767
01:00:04,024 --> 01:00:09,964
in grad school we were talking about microfinance a lot and what it was going to do for the on bank

768
01:00:09,964 --> 01:00:17,904
and people couldn't act and i don't think it delivered the results where anywhere okay uh that

769
01:00:17,904 --> 01:00:23,464
that i can that that are still being pointed to at least in sort of notable news sources so that

770
01:00:23,464 --> 01:00:31,604
microfinance still had to be backed by traditional traditional i get that right right and this is

771
01:00:31,604 --> 01:00:37,584
just exactly what's so cool that's happening in africa they're not relying on traditional finance

772
01:00:37,584 --> 01:00:43,404
for permission or rails are we going to wake up in eight to ten years they've just they've just

773
01:00:43,404 --> 01:00:50,484
see a drastic change in african society around buildings and infrastructure they have a

774
01:00:50,484 --> 01:00:52,744
incredibly young population.

775
01:00:53,484 --> 01:00:55,084
I forget, some huge

776
01:00:55,084 --> 01:00:57,204
percent of their population is like 19

777
01:00:57,204 --> 01:00:58,984
or younger. So they have

778
01:00:58,984 --> 01:01:00,984
a giant uprising

779
01:01:00,984 --> 01:01:03,164
and growth in their population.

780
01:01:03,164 --> 01:01:04,744
They have a new

781
01:01:04,744 --> 01:01:07,064
digital economy

782
01:01:07,064 --> 01:01:08,744
that's built on banking

783
01:01:08,744 --> 01:01:11,004
themselves through their mobile walls with

784
01:01:11,004 --> 01:01:12,564
sats. They're going to

785
01:01:12,564 --> 01:01:14,424
be building

786
01:01:14,424 --> 01:01:16,684
infrastructure for themselves.

787
01:01:16,984 --> 01:01:18,564
It's literally... Does this connect

788
01:01:18,564 --> 01:01:21,544
I think the coolest thing happening on the planet.

789
01:01:21,904 --> 01:01:22,164
Right.

790
01:01:22,284 --> 01:01:31,244
Is this going to lead to an influx or an exponential growth in African entrepreneurship intertwined with the rest of the world?

791
01:01:31,904 --> 01:01:34,284
More importing, exporting, product, services.

792
01:01:34,524 --> 01:01:36,064
I'm not even thinking about it in that level.

793
01:01:36,064 --> 01:01:45,304
I'm thinking it purely from the perspective of if you take somebody, anybody with a passion and you endow them with some Bitcoin when they're young.

794
01:01:45,304 --> 01:01:54,624
and now they're living on a money that's growing while the rest of the the infrastructure around

795
01:01:54,624 --> 01:02:02,124
them is inflating away they're going to create wealth and then they're going to have the ability

796
01:02:02,124 --> 01:02:08,444
to innovate and bring good things to people around them when you when you have abundance

797
01:02:08,444 --> 01:02:14,144
sure some people are going to be greedy and and just want to rape and pillage but others are going

798
01:02:14,144 --> 01:02:18,704
to want to share that abundance with the people around them, in their community, in their family.

799
01:02:19,804 --> 01:02:27,044
So endowing as many people as possible with hard money that grows is going to lead to good things.

800
01:02:27,484 --> 01:02:33,164
This is why we had the golden age. This is why we got beautiful art and beautiful structures when

801
01:02:33,164 --> 01:02:40,064
we had hard money, right? Compared to the garbage we consume and build today. So yeah, I think we

802
01:02:40,064 --> 01:02:46,904
We have an enormous amount of adoption on a Bitcoin standard operating on sats in Africa,

803
01:02:46,904 --> 01:02:51,504
and that will lead to massive progress within the country.

804
01:02:52,084 --> 01:02:53,764
So when the bright orange future...

805
01:02:53,764 --> 01:02:54,484
You fix the currency, you fix the world.

806
01:02:54,504 --> 01:02:56,924
I don't think everyone's going to get the bright orange future at the same time.

807
01:02:57,044 --> 01:02:59,044
It would be interesting to see which continents get there first.

808
01:02:59,504 --> 01:03:00,944
Maybe Africa would get there first.

809
01:03:00,984 --> 01:03:01,444
It'd be awesome.

810
01:03:02,324 --> 01:03:03,304
It is a bit of a race.

811
01:03:03,304 --> 01:03:04,944
I want to be on the continent that gets there first.

812
01:03:05,524 --> 01:03:06,164
Yeah, dude.

813
01:03:06,344 --> 01:03:07,624
I want to start picking up your African accent.

814
01:03:07,624 --> 01:03:08,604
My parents went to Africa.

815
01:03:08,864 --> 01:03:09,584
I got to go.

816
01:03:09,584 --> 01:03:10,404
It's one of the places.

817
01:03:10,524 --> 01:03:11,144
I'm going to go right now.

818
01:03:11,444 --> 01:03:12,044
Let's do it.

819
01:03:12,084 --> 01:03:13,264
Let's not even do the rest of the show.

820
01:03:13,444 --> 01:03:13,544
No.

821
01:03:13,864 --> 01:03:15,324
If you're enjoying the show, hit like and subscribe.

822
01:03:15,844 --> 01:03:17,664
This is a serious topic, I guess.

823
01:03:19,944 --> 01:03:21,544
The Samurai Wallet Senses.

824
01:03:22,444 --> 01:03:22,664
Yeah.

825
01:03:22,724 --> 01:03:24,924
We ended the year on the biggest story of the year.

826
01:03:25,364 --> 01:03:27,124
Well, we got a few more stories, I guess.

827
01:03:27,444 --> 01:03:29,124
But this is...

828
01:03:29,124 --> 01:03:32,964
Last week, you know, we did the telethon or the streamathon.

829
01:03:36,104 --> 01:03:38,784
They're up to about 11,000 signatures on the petition.

830
01:03:39,584 --> 01:03:41,984
I think Keone's on his fourth or fifth night in jail.

831
01:03:43,064 --> 01:03:44,884
I don't think Bill has reported yet.

832
01:03:46,024 --> 01:03:48,444
I think he goes to a Portugal prison.

833
01:03:48,864 --> 01:03:52,744
I think he's an American citizen.

834
01:03:52,864 --> 01:03:53,344
I'm not sure.

835
01:03:55,324 --> 01:03:58,044
Yeah, how worried should we be about this going into 2026?

836
01:03:58,124 --> 01:03:59,544
Do you think this story is going to get lost?

837
01:04:03,444 --> 01:04:04,304
I hope not.

838
01:04:04,304 --> 01:04:15,584
um I you know to me everybody wants to talk about money transmission and what they pled to but the

839
01:04:15,584 --> 01:04:24,584
real right the real lesson here is privacy the real the real thing that the Southern District

840
01:04:24,584 --> 01:04:31,424
New York went after was privacy and um that they don't want to have transactions that are private

841
01:04:31,424 --> 01:04:43,904
The Genesis Act, the Clarity Act, there's a bunch of language in there about how to monitor the blockchains more, how to oversee all these transactions, right?

842
01:04:43,904 --> 01:04:51,244
So this is all about eliminating privacy.

843
01:04:52,504 --> 01:04:55,564
So should we be worried about this?

844
01:04:55,564 --> 01:05:02,304
I don't know if we should worry, but I do think that like what Jeff was saying, Jeff is so smart.

845
01:05:02,384 --> 01:05:11,624
He hit so many good things in that one little clip, you know, building the tools for the future.

846
01:05:12,164 --> 01:05:23,264
So that there's different layers on top of the Bitcoin protocol that are also decentralized, that are also uncensorable, that are so the Bitcoin can become freedom tech.

847
01:05:23,264 --> 01:05:36,084
Like in order for Bitcoin to be the protocol that it is today, to be as resilient as it is today, it had to live on a system that is pseudonymous.

848
01:05:37,164 --> 01:05:38,704
It had to be there.

849
01:05:39,944 --> 01:05:44,744
So privacy tech, freedom tech needs to be built on these other layers.

850
01:05:45,784 --> 01:05:47,764
And so I think it's a battle that will continue.

851
01:05:47,764 --> 01:05:54,264
I don't think this fight is, maybe fight's not the right word.

852
01:05:54,344 --> 01:05:57,884
I don't think the evolution of Bitcoin is over.

853
01:05:58,704 --> 01:06:05,124
These kind of struggles will continue between people that want to preserve their sovereignty.

854
01:06:07,124 --> 01:06:09,684
And that doesn't, you know, and I think people need to realize, right?

855
01:06:09,744 --> 01:06:14,204
Like I can hear people yelling at me right now, but just because you want privacy and

856
01:06:14,204 --> 01:06:16,844
you want sovereignty doesn't mean you're doing illegal things.

857
01:06:16,844 --> 01:06:31,664
And that's not a defense of criminal activity, right? I think we should fight crime. I think crime fighters should be pursuing it as hard as they can.

858
01:06:31,664 --> 01:06:41,184
In fact, I mean, we're all online every day seeing horrible crimes get committed that go uninvestigated or investigated poorly.

859
01:06:42,944 --> 01:06:45,804
And, you know, we witness that all the time.

860
01:06:46,724 --> 01:06:51,844
But so all for fighting crime, all for making the world a safe and secure place.

861
01:06:52,264 --> 01:06:59,004
And we need to build tools that allow us to do that in a private fashion so that good people can preserve their humanity.

862
01:06:59,004 --> 01:07:04,404
yeah trump said i will defend your right to self-custody during his keynote speech at the

863
01:07:04,404 --> 01:07:10,024
bitcoin conference in nashville in 2024 i do think he was i don't think he's a bitcoin but he was

864
01:07:10,024 --> 01:07:26,060
definitely pandering to the crowd i think he knew some tropes but you can have fire gensley you can have self and not have privacy well yes you can but that not really anything of value Right And so he promised to defend the right to self

865
01:07:26,900 --> 01:07:29,620
Trump made a promise, one that he still has the opportunity to keep.

866
01:07:29,620 --> 01:07:35,880
So without financial privacy, self-custody is dramatically weakened, as seen by the growing wave of physical attacks on Bitcoiners in recent years.

867
01:07:35,880 --> 01:07:41,560
the liberty previously enjoyed by software developers to build self-custodial bitcoin

868
01:07:41,560 --> 01:07:45,680
tools like samurai wallet is now on trial so the chilling effect the u.s government has for the most

869
01:07:45,680 --> 01:07:50,480
part learned not to attack an already hardened legal precedent like freedom of expression

870
01:07:50,480 --> 01:07:55,260
however by going after the developers and maintainers of samurai wallet directly

871
01:07:55,260 --> 01:07:59,960
the doj had a net negative effect on financial privacy in the united states and then spread a

872
01:07:59,960 --> 01:08:05,140
chilling effect among bitcoin software developers immediately following the rest of rodriguez and

873
01:08:05,140 --> 01:08:10,560
hill phoenix wallet arguably arguably the best self-custodial lightning while in the industry

874
01:08:10,560 --> 01:08:15,940
exited the u.s app stores a decision to made to protect their business from a u.s government that

875
01:08:15,940 --> 01:08:21,940
appeared hostile to bitcoin self-custody software as of april 2025 though phoenix is once more

876
01:08:21,940 --> 01:08:27,040
available in the u.s wasabi wallet another financial privacy software company stopped

877
01:08:27,040 --> 01:08:32,040
offering its non-custodial mixing services to the public and while it's like blink from el

878
01:08:32,040 --> 01:08:37,320
salvador geo-fenced american users from their app entirely so if trump is really going to defend

879
01:08:37,320 --> 01:08:41,560
the right to self-custody and stop the eventual deployment of a central bank digital currency

880
01:08:42,120 --> 01:08:47,720
which i don't believe he's going to do that in the united states or stop it uh he will have to buy

881
01:08:47,720 --> 01:08:53,640
to address the need for financial privacy and he's got to set these guys free yeah so again so self

882
01:08:53,640 --> 01:09:03,560
custody uh and privacy are not at all correlated and i think um that

883
01:09:05,640 --> 01:09:09,640
well without privacy then they're going to make you declare yourself custodial holdings they're

884
01:09:09,640 --> 01:09:15,000
going to tax them differently they're going to blacklist address i mean we can see where

885
01:09:15,000 --> 01:09:21,720
the slippery slope goes um so while you're trying to catch your thought there um

886
01:09:23,720 --> 01:09:30,680
man i think we have to keep up the noise and the pressure uh i i believe that you know probably the

887
01:09:30,680 --> 01:09:37,240
next round of media will be from keone's no i remember one of the stories like you know when

888
01:09:37,240 --> 01:09:43,720
you i watched a recent um conversation i forget ray dalio was talking to he's talking to somebody

889
01:09:43,720 --> 01:09:50,680
And he was talking about how central banks will never hold Bitcoin because it's not private.

890
01:09:52,040 --> 01:09:52,300
Right?

891
01:09:52,720 --> 01:09:54,840
The central bank wants private transactions.

892
01:09:55,920 --> 01:09:56,600
For themselves, you mean?

893
01:09:56,640 --> 01:09:56,840
Yeah.

894
01:09:57,000 --> 01:09:59,840
The Bank of International Settlements wants private transactions.

895
01:10:02,400 --> 01:10:09,740
We discovered through Doge that a lot of the government had and wanted private transactions.

896
01:10:09,740 --> 01:10:15,720
some of those things were for good purposes and some of those things were for bad

897
01:10:15,720 --> 01:10:22,420
and all where i think when we we talk about privacy we have to frame it under this you know

898
01:10:22,420 --> 01:10:29,980
idea that we all want the same things regardless of whether you're a central bank or you're uh

899
01:10:29,980 --> 01:10:36,900
you know the central bank of cedric like it's we're all we're all uh should be due uh the same

900
01:10:36,900 --> 01:10:39,240
the same rights and the same capabilities.

901
01:10:40,660 --> 01:10:44,280
And if you're up to no good, you should expect to be pursued.

902
01:10:44,700 --> 01:10:49,800
And if you're using privacy tools and you're, you know,

903
01:10:50,300 --> 01:10:58,420
sovereign and you're doing things good and you're providing value to humanity,

904
01:10:58,640 --> 01:11:02,340
then you shouldn't be looked at as a criminal, right?

905
01:11:02,980 --> 01:11:05,800
So this is the battle.

906
01:11:05,800 --> 01:11:13,180
this is the education this is the the space i think we need to get to with privacy and i think

907
01:11:13,180 --> 01:11:18,380
that's going to be a battle for a while that's going to be something that we are constantly

908
01:11:18,380 --> 01:11:24,080
uh well this is the struggle and they fight you face i don't mean literally right now but this is

909
01:11:24,080 --> 01:11:28,700
the wall coming at us but this is the fight i mean around privacy i think and surveillance

910
01:11:28,700 --> 01:11:36,380
yeah all right let's move on to the next one here uh number go up so has this been a reality check

911
01:11:36,380 --> 01:11:45,020
for bitcoiners um why was price expectations completely misaligned in 2025 it seems were

912
01:11:45,020 --> 01:11:54,380
expectations too high um how did you navigate this year personally yeah so i mean this year was a

913
01:11:54,380 --> 01:12:03,920
ended with a fizzle, right? Like I think we, and there's been a lot of analysis I've watched over

914
01:12:03,920 --> 01:12:13,440
the last couple of weeks as to why and what's coming, et cetera, et cetera. The way I look at

915
01:12:13,440 --> 01:12:25,920
this is that I believe in the long-term value of Bitcoin and that whenever price doesn't go as high

916
01:12:25,920 --> 01:12:32,980
as I expect, it's more opportunity to accumulate. You never have as much Bitcoin as you want.

917
01:12:32,980 --> 01:12:45,200
So Bitcoin under $90K, Bitcoin at $70K, Bitcoin at $60K, $50K, $40K is a massive opportunity.

918
01:12:45,600 --> 01:12:55,280
Because at the end of the day, the acquisition of Bitcoin will far outpace new supply.

919
01:12:56,360 --> 01:13:01,200
And adoption is going to outpace new supply.

920
01:13:01,200 --> 01:13:02,600
It's going to outpace sellers, right?

921
01:13:02,600 --> 01:13:08,360
we like well i think earlier in the year we talked about the bitcoin's ipo moment and i think at that

922
01:13:08,360 --> 01:13:13,960
point in time i was kind of like ah poo-pooing the idea i love it and it's made more and more sense

923
01:13:13,960 --> 01:13:22,920
to me now over the years regardless of how these whales got into or rationalized the selling of

924
01:13:22,920 --> 01:13:31,160
their bitcoin whatever their mindset was um we have to realize that those coins are now moving

925
01:13:31,160 --> 01:13:37,860
and dispersed into more hands and more people that are less likely to sell.

926
01:13:38,860 --> 01:13:40,640
Another batch of long-term hodlers.

927
01:13:41,720 --> 01:13:47,360
And if you don't have the amount of coin that you have that you want yet,

928
01:13:47,460 --> 01:13:48,160
now's your chance.

929
01:13:48,180 --> 01:13:49,040
Now's your chance.

930
01:13:49,040 --> 01:13:53,480
This is a huge opportunity for anybody who understands

931
01:13:53,480 --> 01:13:55,340
Bitcoin's long-term value proposition.

932
01:13:56,100 --> 01:13:58,260
I don't think they were selling their Bitcoin.

933
01:13:58,260 --> 01:14:06,180
they were trading it for things they wanted or needed that they waited for they worked for uh

934
01:14:06,180 --> 01:14:11,540
that they fought for with their family and their loved ones who didn't believe them and probably

935
01:14:11,540 --> 01:14:17,460
made them made promises along the lines of uh you said this thing when it hits blah blah blah

936
01:14:19,700 --> 01:14:25,540
you're gonna uh you're gonna and and even i think you know i think a little differently yeah i'm not

937
01:14:25,540 --> 01:14:31,140
an og just i'm not in this group right but you know if you think if you're in that group and i

938
01:14:31,140 --> 01:14:38,820
think even i think in some ways things that you're you're selling or trading for are liquidity

939
01:14:39,700 --> 01:14:44,900
the ability to do the things that you're trying to do and there's a way to kind of go about that

940
01:14:44,900 --> 01:14:51,620
at probably a certain level that i'm not in tune with or aware of but i'm sure they're going through

941
01:14:51,620 --> 01:14:56,980
those steps and it's a natural order of things but to your point it's moving to stronger hands

942
01:14:56,980 --> 01:15:00,820
those were incredibly strong hands i don't think they're they're doing weak things i think they're

943
01:15:01,540 --> 01:15:06,580
probably acting rationally for their situation in ways we can't imagine because we're not imagine

944
01:15:06,580 --> 01:15:14,100
if they would have sold 80 000 bitcoin in 2017. right it would have it would have crushed it right

945
01:15:14,100 --> 01:15:18,580
it's not that they that's also what people don't realize that they can why they wait no maybe they

946
01:15:18,580 --> 01:15:24,740
wanted to sell much earlier yeah you never maybe they weren't true believers in 2017 in 2021 but

947
01:15:24,740 --> 01:15:29,540
they didn't have the liquidity the options or the infrastructure or the infrastructure to do the

948
01:15:29,540 --> 01:15:34,820
thing they want to do exactly and it wasn't the amount of fiat they gained it was the optional

949
01:15:34,820 --> 01:15:41,940
optionality in their own lives also having the clarity around inheritance how to structure right

950
01:15:41,940 --> 01:15:46,980
this wealth and like there's a lot that goes into that so and maybe the next i've come around more

951
01:15:46,980 --> 01:15:53,940
to that but and that doesn't mean that the next uh long-term holders will have the same they might

952
01:15:53,940 --> 01:15:59,860
have different and better options for the same things in 15 years right that weren't available

953
01:15:59,860 --> 01:16:05,940
to long-term oh geez no we absolutely at this point in time we absolutely will and and just

954
01:16:05,940 --> 01:16:11,940
people need to keep coming back to this like i mean this is um but i know it's hard because i've

955
01:16:11,940 --> 01:16:16,420
I've been there during other past bear markets where it's scary, man.

956
01:16:16,420 --> 01:16:30,560
But I've sat through presentations where people made projections, mining companies, mining pools, and every chart around Bitcoin price was up and to the right, just to lesser degrees.

957
01:16:30,780 --> 01:16:33,360
Like chart A, this is our optimistic one.

958
01:16:33,440 --> 01:16:35,960
Bitcoin is going to be $500,000 at the end of 2025.

959
01:16:36,740 --> 01:16:41,920
Here's our, you know, medium base case, mid-range of 250.

960
01:16:42,260 --> 01:16:44,320
And our bear case is 175.

961
01:16:45,100 --> 01:16:52,760
And it was just like, how do you not have, for argument's sake, it flattened and not another one down into the right and do your projection?

962
01:16:52,840 --> 01:16:53,520
Well, that can't happen.

963
01:16:53,560 --> 01:16:54,140
What do you mean?

964
01:16:54,860 --> 01:16:57,120
And the more we heard it was only going to be one way.

965
01:16:57,120 --> 01:17:00,540
I mean, it's almost obvious in hindsight.

966
01:17:01,020 --> 01:17:04,480
Like, you know, it never goes the way we all expect.

967
01:17:04,480 --> 01:17:06,500
No, it never goes the way you expect.

968
01:17:06,840 --> 01:17:07,460
We all expect that.

969
01:17:07,460 --> 01:17:09,480
You got to take the opportunities you're given.

970
01:17:10,340 --> 01:17:17,400
And if we stay here or lower for a period of time, it is a great opportunity.

971
01:17:18,240 --> 01:17:26,620
And don't kick yourself because you didn't take advantage of this opportunity when the price is back over $100,000 at some point in the future.

972
01:17:27,100 --> 01:17:27,980
Because you will.

973
01:17:27,980 --> 01:17:37,420
And, you know, at every major bear market, I've always come out of it wishing I had bought more.

974
01:17:37,720 --> 01:17:37,760
Yeah.

975
01:17:38,780 --> 01:17:39,380
All right.

976
01:17:40,080 --> 01:17:42,520
We have a special round here.

977
01:17:43,640 --> 01:17:46,360
Best tweets of 2025, according to Grok.

978
01:17:46,980 --> 01:17:48,140
So hit like and subscribe.

979
01:17:48,440 --> 01:17:49,100
Chat in the comments.

980
01:17:49,360 --> 01:17:51,280
This is Bitcoin Center brought to you by Byte Federal.

981
01:17:51,420 --> 01:17:52,160
Go bank yourself.

982
01:17:52,700 --> 01:17:52,940
All right.

983
01:17:52,940 --> 01:17:53,880
Let's rip through these.

984
01:17:57,980 --> 01:17:59,860
This one speaks for itself.

985
01:18:00,020 --> 01:18:01,140
I'll read this one.

986
01:18:01,320 --> 01:18:03,920
You're the official tweet reader because I don't have my glasses on.

987
01:18:04,480 --> 01:18:09,400
At 26, Ross launched a website that would change Bitcoin forever.

988
01:18:10,100 --> 01:18:12,200
At 29, he was sentenced to die in prison.

989
01:18:13,300 --> 01:18:16,180
After 10 years behind bars, Donald Trump just pardoned him.

990
01:18:16,660 --> 01:18:20,520
Here's the wild story of Ross Ulbricht, Bitcoin's most controversial pioneer.

991
01:18:21,080 --> 01:18:24,720
He's got 160,000, 167,000 likes.

992
01:18:25,760 --> 01:18:27,240
Oh, man, I don't have the thread.

993
01:18:27,980 --> 01:18:31,240
in front of me. I just have that main tweet. I'll try to pull up the thread. But

994
01:18:31,240 --> 01:18:40,600
yeah, I mean, I think this is the story of 2025 as a Bitcoiner. And I think in a weird way,

995
01:18:40,840 --> 01:18:49,400
we began the year on this note. This was the day one thing. Not day one of the calendar year, but

996
01:18:49,400 --> 01:18:56,980
very early on in the administration, day one in January, he was released. And now at the end of

997
01:18:56,980 --> 01:19:08,656
the year we gone full circle and we have a couple of our own in prison We going to prison Which I feel is a very parallel sort of case

998
01:19:11,556 --> 01:19:14,036
I think the parallels are striking.

999
01:19:17,036 --> 01:19:22,916
From coders trying to enable you to use your Bitcoin the way you want to.

1000
01:19:24,356 --> 01:19:27,936
I mean, I mean, Ross built it.

1001
01:19:28,336 --> 01:19:29,576
What was Ross trying to do?

1002
01:19:29,696 --> 01:19:34,796
Ross was trying to help you use freedom money to buy what you wanted on the open market.

1003
01:19:35,256 --> 01:19:36,816
Well, he built Silk Road.

1004
01:19:37,636 --> 01:19:42,316
Yeah, I think that's – but he combined it with – he didn't build Silk Road with a dollar.

1005
01:19:42,676 --> 01:19:42,916
Right.

1006
01:19:42,916 --> 01:19:43,816
He could have.

1007
01:19:44,336 --> 01:19:46,036
Could have done the same exact thing.

1008
01:19:46,256 --> 01:19:50,916
But he built it with Bitcoin, which made it more powerful both ideologically demonstrated.

1009
01:19:50,916 --> 01:20:05,236
What I'm saying is the point of difference for me is that I would assume Ross knew he was building something quite illegal, regardless of what the currency or exchange of value was on it.

1010
01:20:05,796 --> 01:20:08,636
So, yes, I will agree that that note.

1011
01:20:08,776 --> 01:20:17,956
And it's very clear that FinCEN and Samurai did their research and were on the clear right side of the law.

1012
01:20:17,996 --> 01:20:19,096
They were doing nothing illegal.

1013
01:20:19,096 --> 01:20:21,216
They knew they were going to be under scrutiny.

1014
01:20:21,576 --> 01:20:26,356
And the government went after them for conspiracy, not doing anything, 100%.

1015
01:20:26,356 --> 01:20:33,756
But I think, you know, this gets into sort of, for Ross, it's more about like lawful versus legal.

1016
01:20:34,976 --> 01:20:38,436
So I think it was illegal what he did.

1017
01:20:38,496 --> 01:20:39,176
I think that was obvious.

1018
01:20:39,216 --> 01:20:41,816
But I don't think it was unlawful what he was enabling people to do.

1019
01:20:41,816 --> 01:20:50,696
like i don't think it's unlawful to enable people to buy marijuana for their i'm just dying

1020
01:20:50,696 --> 01:20:55,616
relatives of cancer and i like don't like it's kind of like in a few good men it's like

1021
01:20:55,616 --> 01:21:02,736
you reprimanded him for bringing a hungry man some water right right like i mean right no aren't

1022
01:21:02,736 --> 01:21:06,796
we supposed to help people so i don't think what ross did was i think it was it was it was maybe

1023
01:21:06,796 --> 01:21:08,836
illegal, but I don't think it was unlawful.

1024
01:21:09,436 --> 01:21:11,156
And he was trying to help Bitcoiners

1025
01:21:11,156 --> 01:21:12,376
use their money.

1026
01:21:12,636 --> 01:21:15,156
He was trying to help people use their money to get the things

1027
01:21:15,156 --> 01:21:16,236
that they wanted in the world.

1028
01:21:16,476 --> 01:21:19,136
I think he knew the risk he was taking, right?

1029
01:21:20,076 --> 01:21:20,896
Yes, I think.

1030
01:21:21,016 --> 01:21:22,556
But I think even, you know,

1031
01:21:23,276 --> 01:21:25,216
I think Keone

1032
01:21:25,216 --> 01:21:26,036
shows us

1033
01:21:26,036 --> 01:21:29,216
the government could just show up

1034
01:21:29,216 --> 01:21:30,856
your houses with a bunch of drones and a bunch of

1035
01:21:30,856 --> 01:21:33,296
agents and a bunch

1036
01:21:33,296 --> 01:21:34,436
of armored tanks

1037
01:21:34,436 --> 01:21:36,416
and accuse you of conspiracy

1038
01:21:36,416 --> 01:21:38,076
You're saying, conspiring, doing basically anything.

1039
01:21:39,516 --> 01:21:41,696
And now you have to mount a defense.

1040
01:21:42,576 --> 01:21:43,956
You have to argue.

1041
01:21:44,196 --> 01:21:46,596
You have to accept everything they're saying until trial,

1042
01:21:46,816 --> 01:21:48,476
accept everything they're saying is truth,

1043
01:21:49,296 --> 01:21:50,376
all their concerns and facts.

1044
01:21:51,236 --> 01:21:54,916
And that's no different, I think, than China.

1045
01:21:56,436 --> 01:21:57,616
They could just show up at your door.

1046
01:21:57,776 --> 01:21:58,596
This is no different than Russia.

1047
01:21:58,596 --> 01:22:02,036
They could just take you away, have a trial,

1048
01:22:02,116 --> 01:22:04,216
put you in a glass box for the whole world to see,

1049
01:22:04,216 --> 01:22:08,436
and make you fight with one hand tied behind your back.

1050
01:22:08,596 --> 01:22:08,656
Right.

1051
01:22:09,596 --> 01:22:12,496
So that doesn't feel, I don't know.

1052
01:22:13,196 --> 01:22:15,396
No, I hear you.

1053
01:22:15,496 --> 01:22:15,976
I hear you.

1054
01:22:16,096 --> 01:22:18,076
This is a part of it.

1055
01:22:18,076 --> 01:22:21,696
I think a Bitcoin, like you're more on the front line than a PayPal user.

1056
01:22:21,696 --> 01:22:24,336
You know, and Charlie Shrem, I mean,

1057
01:22:24,376 --> 01:22:27,296
they didn't let him send his money to a charity.

1058
01:22:27,536 --> 01:22:28,196
PayPal didn't.

1059
01:22:28,316 --> 01:22:30,136
I mean, PayPal can suck in that way.

1060
01:22:30,136 --> 01:22:35,236
But like you're probably much more at risk as a Bitcoiner in this country now.

1061
01:22:36,096 --> 01:22:36,496
Sure.

1062
01:22:37,496 --> 01:22:39,416
Then, you know.

1063
01:22:40,496 --> 01:22:42,536
So, all right, let's move on to the next one.

1064
01:22:42,636 --> 01:22:45,596
Actually, I want to bring up the, let's see if I can bring up that tweet real quick.

1065
01:22:47,356 --> 01:22:48,096
Here it is.

1066
01:22:48,376 --> 01:22:48,636
All right.

1067
01:22:48,776 --> 01:22:51,416
So it goes on to say, meet Ross.

1068
01:22:51,936 --> 01:22:54,176
He's an Eagle Scout from Austin, Texas.

1069
01:22:55,756 --> 01:22:59,856
Physics scholar on scholarship, early Bitcoin believer, libertarian idealist.

1070
01:22:59,856 --> 01:23:06,936
In 2011, he had an idea that would transform crypto forever, a truly free marketplace using Bitcoin and privacy tech.

1071
01:23:07,276 --> 01:23:08,356
Sounds like a scumbag.

1072
01:23:09,136 --> 01:23:10,856
He called it Silk Road.

1073
01:23:11,076 --> 01:23:14,056
The goal, create a free market outside government control.

1074
01:23:14,796 --> 01:23:15,776
The rules were simple.

1075
01:23:15,976 --> 01:23:17,076
No violence allowed.

1076
01:23:17,316 --> 01:23:18,356
No stolen property.

1077
01:23:18,896 --> 01:23:20,296
No harming third parties.

1078
01:23:20,876 --> 01:23:22,196
Bitcoin only payments.

1079
01:23:22,936 --> 01:23:24,916
But things quickly spiraled out of control.

1080
01:23:25,876 --> 01:23:27,876
The site exploded in popularity.

1081
01:23:27,876 --> 01:23:29,996
first major platform to use.

1082
01:23:30,076 --> 01:23:32,076
I mean, this sounds no different than Craigslist.

1083
01:23:33,896 --> 01:23:37,076
And Craigslist had rampant sex trafficking,

1084
01:23:37,556 --> 01:23:41,116
prostitution, money, all of it, crime.

1085
01:23:41,496 --> 01:23:43,216
They never shut Craigslist down.

1086
01:23:43,896 --> 01:23:45,676
In fact, we have Angie's List now.

1087
01:23:46,016 --> 01:23:46,876
Yeah, good point.

1088
01:23:47,916 --> 01:23:50,156
You know, the site exploded in popularity.

1089
01:23:50,156 --> 01:23:54,176
And I think this is why, almost to our detriment,

1090
01:23:54,356 --> 01:23:56,256
that Bitcoin was focused on payments in the beginning.

1091
01:23:56,956 --> 01:23:58,156
The site exploded in popularity.

1092
01:23:58,336 --> 01:24:00,156
First major platform to use Bitcoin.

1093
01:24:00,336 --> 01:24:02,476
Pioneered escrow and review systems.

1094
01:24:03,196 --> 01:24:04,976
Created trust in digital payments.

1095
01:24:05,496 --> 01:24:07,796
Helped prove Bitcoin's real-world use.

1096
01:24:08,256 --> 01:24:10,556
I mean, he was doing this, like, he was doing better work than Amazon.

1097
01:24:10,556 --> 01:24:15,296
But it also became known for illegal goods.

1098
01:24:16,216 --> 01:24:18,876
Maybe not unlawful, right?

1099
01:24:19,096 --> 01:24:20,016
But illegal goods.

1100
01:24:21,036 --> 01:24:22,396
And the feds were watching.

1101
01:24:22,396 --> 01:24:26,956
So in October 2013, FBI agents tracked Ulberg to a San Francisco library.

1102
01:24:27,816 --> 01:24:33,456
As they arrested him, one agent kept him talking while another grabbed his laptop, still logged into Silk Road's admin panel.

1103
01:24:34,056 --> 01:24:36,336
The site was seized, but the real shock was yet to come.

1104
01:24:37,036 --> 01:24:39,776
The sentence, two life terms plus 40 years.

1105
01:24:40,276 --> 01:24:41,776
No possibility of parole.

1106
01:24:42,356 --> 01:24:44,396
First time nonviolent offender.

1107
01:24:45,216 --> 01:24:48,216
For comparison, major drug dealers got 10 years.

1108
01:24:48,816 --> 01:24:50,556
Site admins got eight months.

1109
01:24:51,056 --> 01:24:53,016
Other defendants averaged two to five years.

1110
01:24:53,776 --> 01:24:54,936
Why such a harsh sentence?

1111
01:24:55,036 --> 01:24:56,636
Many believe it wasn't about drugs at all.

1112
01:24:57,276 --> 01:24:59,976
Silk Road was the first major proof that Bitcoin could work.

1113
01:25:00,496 --> 01:25:03,396
It showed that digital currency could challenge government control.

1114
01:25:03,916 --> 01:25:05,056
And the message was clear.

1115
01:25:05,056 --> 01:25:07,096
From Bitcoin, he reflected.

1116
01:25:07,376 --> 01:25:08,316
From prison, he reflected.

1117
01:25:08,456 --> 01:25:10,356
When Bitcoin clicked for me, I got so excited.

1118
01:25:10,896 --> 01:25:12,376
I thought I could make a difference.

1119
01:25:12,856 --> 01:25:13,756
But I was impatient.

1120
01:25:14,136 --> 01:25:14,896
I rushed ahead.

1121
01:25:15,716 --> 01:25:19,416
He spent four months in solitary, started teaching meditation to inmates.

1122
01:25:19,416 --> 01:25:22,356
despite everything his impact on crypto's undeniable,

1123
01:25:23,276 --> 01:25:27,216
proved Bitcoin's real-world utility pioneered digital reputation systems,

1124
01:25:27,296 --> 01:25:28,196
which is very interesting,

1125
01:25:29,036 --> 01:25:32,756
drove early Bitcoin adoption, influenced modern crypto marketplaces.

1126
01:25:33,716 --> 01:25:35,196
And the controversy continues.

1127
01:25:35,336 --> 01:25:36,956
Some see him as a digital freedom fighter,

1128
01:25:37,156 --> 01:25:39,416
others as a cautionary tale, many as both.

1129
01:25:40,836 --> 01:25:44,536
So, you know, on the takeaway, innovation often lives in gray areas,

1130
01:25:45,096 --> 01:25:47,656
and Bitcoin's path to legitimacy wasn't straight.

1131
01:25:47,656 --> 01:25:49,756
I don't know.

1132
01:25:50,096 --> 01:25:50,616
I don't know.

1133
01:25:51,876 --> 01:25:53,316
I think it took a lot of

1134
01:25:53,316 --> 01:25:55,256
genius and

1135
01:25:55,256 --> 01:25:56,836
sort of visionary

1136
01:25:56,836 --> 01:25:59,896
insights for such a young person

1137
01:25:59,896 --> 01:26:00,756
to put all this together.

1138
01:26:00,936 --> 01:26:02,456
And courage.

1139
01:26:02,616 --> 01:26:05,916
I don't think he did

1140
01:26:05,916 --> 01:26:06,656
anything wrong.

1141
01:26:07,416 --> 01:26:09,736
I think he maybe enabled other people

1142
01:26:09,736 --> 01:26:11,996
to do things that were wrong in the eyes of the government,

1143
01:26:11,996 --> 01:26:14,116
which is very similar to Keone's case.

1144
01:26:14,116 --> 01:26:20,836
right like we we can't really figure out what you did wrong but you allowed all this to happen

1145
01:26:20,836 --> 01:26:26,436
and you allowed people to use money the way they want to and we're going to assume that's bad

1146
01:26:26,436 --> 01:26:31,456
and and we're not necessarily going to charge the bad actors or go after the

1147
01:26:31,456 --> 01:26:36,916
you know and the ross thing so similarities i mean well well yeah he wasn't the only one

1148
01:26:36,916 --> 01:26:42,736
with access to the the username i really believe other people right who had the access why didn't

1149
01:26:42,736 --> 01:26:50,016
they why didn't the DEA come to him and say hey look you built a platform that's gonna allow us

1150
01:26:50,016 --> 01:26:58,016
to see in real time who the drug dealers are yeah and who's buying and uh you're gonna keep

1151
01:26:58,016 --> 01:27:04,556
your mouth shut and we're gonna use this to fight crime but that was not on the drug activists came

1152
01:27:04,556 --> 01:27:09,376
out and said this is great for drug users and we hate drugs they're not in the alleys getting shot

1153
01:27:09,376 --> 01:27:14,496
and stabbed they're not buying drugs that will kill them because of the rating system so if

1154
01:27:14,496 --> 01:27:22,976
anything this was improving the lives of drug users uh improving the safety of of the drug trade it

1155
01:27:22,976 --> 01:27:29,136
would allow them to track really to the roots of a lot of uh it helped them with banking and cash

1156
01:27:30,416 --> 01:27:36,176
you know this was sort of like a red lights district in amsterdam you know like yeah and if it's

1157
01:27:36,176 --> 01:27:49,496
It's when viewed through the eyes of what we're hearing Uncle Jack talk about as far as the formation of who Satoshi is and how Bitcoin was created.

1158
01:27:51,496 --> 01:27:58,036
If that's accurate, then Ross just found himself in the crosshairs of a bigger battle.

1159
01:27:59,656 --> 01:28:00,916
Well, yeah.

1160
01:28:01,016 --> 01:28:02,936
That still could be going on today, right?

1161
01:28:02,936 --> 01:28:04,136
a bigger battle

1162
01:28:04,136 --> 01:28:06,196
between

1163
01:28:06,196 --> 01:28:11,456
two different power structures in the world.

1164
01:28:11,456 --> 01:28:13,616
Why didn't Ross take

1165
01:28:13,616 --> 01:28:14,596
Satoshi-like

1166
01:28:14,596 --> 01:28:17,596
protection

1167
01:28:17,596 --> 01:28:21,296
to be more anonymous,

1168
01:28:21,436 --> 01:28:23,536
more private, maybe in a different

1169
01:28:23,536 --> 01:28:24,176
country?

1170
01:28:25,256 --> 01:28:27,556
You knowingly know you're

1171
01:28:27,556 --> 01:28:29,436
doing some stuff that is good.

1172
01:28:29,756 --> 01:28:30,996
Even if you believe in it,

1173
01:28:31,636 --> 01:28:32,316
which I do,

1174
01:28:32,936 --> 01:28:33,576
Right.

1175
01:28:33,736 --> 01:28:35,816
That was kind of where I was starting with this.

1176
01:28:35,816 --> 01:28:42,036
You know that you're going to be stepping into a hornet's nest with this one.

1177
01:28:42,356 --> 01:28:42,456
Right.

1178
01:28:43,676 --> 01:28:46,336
Which is really, that's what was really glitchy with his speech,

1179
01:28:46,396 --> 01:28:48,976
that he was nervous about growing the mushrooms and getting caught.

1180
01:28:49,136 --> 01:28:51,816
It was like, dude, you're doing way...

1181
01:28:51,816 --> 01:28:52,896
Riskier things.

1182
01:28:53,176 --> 01:28:56,776
Yeah, that's going to upset some people in Humboldt County

1183
01:28:56,776 --> 01:28:58,156
down at the sheriff's office.

1184
01:28:59,156 --> 01:29:01,196
You're going to do three to six months tops.

1185
01:29:02,196 --> 01:29:02,236
Yeah.

1186
01:29:02,936 --> 01:29:03,556
Yeah, I don't know.

1187
01:29:03,556 --> 01:29:12,556
How does that, how do you, that's where I really didn't understand the line of thinking in terms of his own freedom and consequences and the calculations he made.

1188
01:29:12,956 --> 01:29:13,736
You'll never know.

1189
01:29:13,876 --> 01:29:14,356
You'll never know.

1190
01:29:14,536 --> 01:29:15,336
Well, maybe we'll know.

1191
01:29:15,416 --> 01:29:16,236
Maybe we'll understand more.

1192
01:29:16,496 --> 01:29:17,696
Maybe Ross will tell us someday.

1193
01:29:18,036 --> 01:29:28,416
You know, and I think to some extent, even if you know you're not acting on the wrong side of the law, even people in the privacy space, they, this is the, that's a, especially after Samurais now, they definitely know.

1194
01:29:28,416 --> 01:29:30,716
Even if you're on the right side of the law, like they can come after you.

1195
01:29:30,716 --> 01:29:33,556
All right, let's move on to the next one here.

1196
01:29:34,196 --> 01:29:40,556
The next tweet, it's got, wow, it's got 188,000 likes.

1197
01:29:40,636 --> 01:29:42,016
This was actually technically from 2024.

1198
01:29:43,016 --> 01:29:44,496
I can't stand Donald Trump.

1199
01:29:45,196 --> 01:29:49,076
He is braggy, he insults people for no reason, and he's just a brutal personality.

1200
01:29:49,476 --> 01:29:50,576
But my mind is made up.

1201
01:29:50,636 --> 01:29:51,916
I'm voting for him, and here's why.

1202
01:29:53,136 --> 01:29:54,916
I mean, I don't know if I agree with this.

1203
01:29:54,916 --> 01:29:56,996
He puts Americans in their well-being first.

1204
01:29:57,216 --> 01:29:57,956
Kamala will not.

1205
01:29:57,956 --> 01:30:00,936
I mean, I don't know if he's really truly American.

1206
01:30:01,136 --> 01:30:01,536
I don't know.

1207
01:30:02,336 --> 01:30:05,456
He will bring Elon into the cabinet as the efficiencies are.

1208
01:30:05,596 --> 01:30:09,216
This alone may be the best single reason to vote for him.

1209
01:30:09,656 --> 01:30:11,016
I don't think that's really panned out.

1210
01:30:12,356 --> 01:30:13,536
I don't want to read all these.

1211
01:30:13,616 --> 01:30:14,916
I don't think these have all panned out.

1212
01:30:15,076 --> 01:30:20,216
But it gets to sort of like the lesser of two evils, I think, here.

1213
01:30:20,676 --> 01:30:22,816
Do you think they're keeping illegals out of the country?

1214
01:30:24,316 --> 01:30:26,956
Do you think the borders actually, when we hear about deportations,

1215
01:30:26,956 --> 01:30:29,076
We see sort of the fights.

1216
01:30:29,076 --> 01:30:31,856
What was interesting, one statistic I saw

1217
01:30:31,856 --> 01:30:34,436
was that deportations are actually down

1218
01:30:35,276 --> 01:30:39,536
in aggregate numbers compared to the Biden years.

1219
01:30:41,336 --> 01:30:55,572
That it went from about 1800 I don know if it was a day or a month to about 1200 That 1200 is obviously making a lot of noise And I invalidate the numbers One thing I know is that we don know

1220
01:30:56,032 --> 01:30:56,812
We don't know.

1221
01:30:57,292 --> 01:30:58,152
None of us know.

1222
01:30:59,432 --> 01:31:04,592
And every time I've thought I've known, I've been proven wrong.

1223
01:31:06,992 --> 01:31:07,472
Yeah.

1224
01:31:07,932 --> 01:31:10,372
So are we getting to the point where do we need to know?

1225
01:31:10,932 --> 01:31:11,932
What are we talking about?

1226
01:31:12,732 --> 01:31:13,212
Exactly.

1227
01:31:13,432 --> 01:31:13,872
Yeah.

1228
01:31:14,292 --> 01:31:15,712
All right, let's move on to the next tweet.

1229
01:31:17,632 --> 01:31:20,252
There is no knowing.

1230
01:31:21,932 --> 01:31:22,572
Thank you.

1231
01:31:25,272 --> 01:31:27,332
That's the way I want to feel in 2026.

1232
01:31:27,552 --> 01:31:28,132
Do that again.

1233
01:31:31,432 --> 01:31:31,952
2026.

1234
01:31:32,472 --> 01:31:33,032
You got there.

1235
01:31:33,092 --> 01:31:33,632
You'll get there.

1236
01:31:34,632 --> 01:31:35,492
All right, this one.

1237
01:31:37,632 --> 01:31:38,792
Let's see what this.

1238
01:31:38,792 --> 01:31:41,312
me in 2011

1239
01:31:41,312 --> 01:31:43,252
instead of claiming five Bitcoin

1240
01:31:43,252 --> 01:31:43,932
for free.

1241
01:31:45,232 --> 01:31:47,252
You get this one? Yeah. He's playing video

1242
01:31:47,252 --> 01:31:48,472
games instead of getting five Bitcoin.

1243
01:31:49,372 --> 01:31:51,272
Okay. I think that's people

1244
01:31:51,272 --> 01:31:52,632
in 2025 at

1245
01:31:52,632 --> 01:31:53,812
88,000.

1246
01:31:55,092 --> 01:31:57,312
I love

1247
01:31:57,312 --> 01:31:59,312
these interviews that you see

1248
01:31:59,312 --> 01:32:01,152
on X where they go around and they talk to

1249
01:32:01,152 --> 01:32:02,592
college kids and they're like, hey,

1250
01:32:03,112 --> 01:32:04,992
would you rather have your tuition paid off or

1251
01:32:04,992 --> 01:32:06,152
one whole Bitcoin?

1252
01:32:06,152 --> 01:32:12,052
and they're like uh yeah my tuition all right let's let's move on to the next one here

1253
01:32:12,052 --> 01:32:20,012
this is tyler winklevi or one of the winklevi twins i just donated one million in bitcoin

1254
01:32:20,012 --> 01:32:24,972
15 and a half bitcoin to real donald trump and we'll be voting for him in november here's why

1255
01:32:24,972 --> 01:32:32,672
you think he got his money's worth maybe gemini did yeah but what about like someone like gary

1256
01:32:32,672 --> 01:32:41,952
cardone he i think paid 12 bitcoin to be at like an event with trump wow and i think he felt that

1257
01:32:41,952 --> 01:32:48,352
it was better for bitcoin trump got elected better for ross he definitely put his money where his

1258
01:32:48,352 --> 01:32:55,392
mouth is one day those bitcoin will be worth an astronomical fortune they already are i mean 12

1259
01:32:55,392 --> 01:33:02,112
bitcoin is an astronomical fortune too yeah most of us all of us i mean it's just it's uh yeah do

1260
01:33:02,112 --> 01:33:08,592
you think he i mean what i mean i don't like giving any money to any politicians 12 bitcoin huh

1261
01:33:08,592 --> 01:33:13,472
all right let's move on to the next one here i don't care what logos they're wearing all right

1262
01:33:14,192 --> 01:33:20,592
first time ever breaking under 20k it's got 38 000 likes i i don't know i don't think 120k is the

1263
01:33:20,592 --> 01:33:27,552
number that it was exciting don't get me wrong but yeah it's all local all-time high but yeah all right

1264
01:33:27,552 --> 01:33:32,432
there you go

1265
01:33:32,432 --> 01:33:42,852
all right next one's from pete rizzo so someone just moved this is from this is from uh 11 15

1266
01:33:42,852 --> 01:33:50,572
2024 this is not new news justin someone just moved 2000 bitcoin worth 179 billion

1267
01:33:50,572 --> 01:34:00,052
million million they held from six cents to 90 grand legend what do you think that is pretty

1268
01:34:00,052 --> 01:34:05,752
legendary i wish i knew what bitcoin was at six cents that would have been amazing

1269
01:34:05,752 --> 01:34:12,712
yeah so you know it's possible they had more than 2 000 bitcoin sure but you you think like why not

1270
01:34:12,712 --> 01:34:17,952
just uh how about a thousand and move doesn't mean they sold but let's say they sold i mean

1271
01:34:17,952 --> 01:34:24,532
but that's that's that's some balls dude to move that many bitcoin in one transaction yeah

1272
01:34:24,532 --> 01:34:28,872
i wonder if there was a test one all right let's move on that was that was the test transaction

1273
01:34:28,872 --> 01:34:37,132
that was your test transaction all right uh let's go to the next one here so now we have

1274
01:34:37,132 --> 01:34:42,812
uh bitcoin logo appears in a video game from 1991 this is a trip

1275
01:34:42,812 --> 01:34:50,732
uh and it's got the rocket it's so weird good and i think one of the developers was named

1276
01:34:50,732 --> 01:34:57,312
what was it satoshi nakamoto something like that or is like something backwards or

1277
01:34:57,312 --> 01:35:01,372
nakamoto satoshi or something yeah and i think one of the developers might even been like a

1278
01:35:01,372 --> 01:35:06,192
josh man i don't know but this is a weird thing do you i mean crazy

1279
01:35:06,192 --> 01:35:12,832
uh is that the i guess that's the bitcoin symbol it also kind of is it a coincidence

1280
01:35:12,832 --> 01:35:15,872
they were like buckazoids they were called buckazoids

1281
01:35:17,312 --> 01:35:22,112
so it's a b and a buck i mean it could be just lucky coincidence but i think satoshi

1282
01:35:22,112 --> 01:35:28,112
could be somebody you know somebody could have been um you know seeing the future somebody could

1283
01:35:28,112 --> 01:35:35,472
have left their body and viewed uh that logo at some point in the future it's just crazy dude what's

1284
01:35:35,472 --> 01:35:35,772
What's this?

1285
01:35:35,852 --> 01:35:36,772
Is it the all-seeing eye?

1286
01:35:36,852 --> 01:35:37,252
What is that?

1287
01:35:37,312 --> 01:35:37,932
Is that what that is?

1288
01:35:39,292 --> 01:35:40,392
Oh, Jesus Christ.

1289
01:35:40,592 --> 01:35:40,872
Okay.

1290
01:35:41,332 --> 01:35:42,532
I need my glasses.

1291
01:35:44,432 --> 01:35:45,812
The all-seeing eye.

1292
01:35:46,032 --> 01:35:47,732
Yeah, it's the buccazoid and the Illuminati.

1293
01:35:47,732 --> 01:35:48,992
Yeah, there's an eye, dude.

1294
01:35:49,612 --> 01:35:50,232
Come on.

1295
01:35:52,932 --> 01:35:53,492
All right.

1296
01:35:53,612 --> 01:35:54,552
There's the record scratch.

1297
01:35:54,612 --> 01:35:55,132
Let's move on.

1298
01:35:55,132 --> 01:35:57,132
It also looks like an Andrew Drodd.

1299
01:35:57,312 --> 01:35:58,092
Drone on there.

1300
01:35:58,452 --> 01:35:59,092
An Andrew Drodd.

1301
01:35:59,792 --> 01:36:00,432
All right.

1302
01:36:00,472 --> 01:36:04,072
Well, here's Bukele tweeting on September 7th,

1303
01:36:04,072 --> 01:36:06,352
buying 21 Bitcoin for Bitcoin day.

1304
01:36:06,592 --> 01:36:07,752
So that's August.

1305
01:36:08,052 --> 01:36:09,332
So where are those coins coming?

1306
01:36:09,392 --> 01:36:11,392
Are they moving from like the central bank

1307
01:36:11,392 --> 01:36:13,612
to their equivalent of their treasury?

1308
01:36:13,892 --> 01:36:15,832
Like how are they spoofing these buys?

1309
01:36:16,072 --> 01:36:17,392
Like if they're spoofing them.

1310
01:36:17,392 --> 01:36:19,252
As far as I can tell,

1311
01:36:19,312 --> 01:36:21,652
it's moving from different government wallets

1312
01:36:21,652 --> 01:36:24,412
to the actual quote unquote reserve wallet.

1313
01:36:25,172 --> 01:36:27,692
And it's just moving and transferring coins around,

1314
01:36:27,692 --> 01:36:28,772
not new purchases.

1315
01:36:29,992 --> 01:36:32,632
So make of that what you will.

1316
01:36:34,072 --> 01:36:34,752
What are you making up?

1317
01:36:35,832 --> 01:36:36,452
That's sad.

1318
01:36:37,552 --> 01:36:43,252
Why tweet about it or brag about it if you're not actually buying Bitcoin?

1319
01:36:44,132 --> 01:36:46,252
Because you want people to think you're buying it.

1320
01:36:46,992 --> 01:36:47,432
Okay.

1321
01:36:47,872 --> 01:36:48,452
I don't know.

1322
01:36:48,512 --> 01:36:49,452
Why else would you do it?

1323
01:36:50,012 --> 01:36:50,372
All right.

1324
01:36:50,452 --> 01:36:51,272
You move there.

1325
01:36:52,072 --> 01:36:52,352
All right.

1326
01:36:52,432 --> 01:36:53,112
Next one.

1327
01:36:54,232 --> 01:36:55,532
Bitcoin flash is fresh.

1328
01:36:55,592 --> 01:36:56,472
I hope to visit, though.

1329
01:36:56,472 --> 01:36:58,132
I don't know, man.

1330
01:36:58,192 --> 01:36:59,052
You go in.

1331
01:36:59,452 --> 01:37:00,372
I hope you get out.

1332
01:37:00,752 --> 01:37:00,992
No.

1333
01:37:01,712 --> 01:37:02,152
Shit.

1334
01:37:02,152 --> 01:37:05,072
El Salvador is great.

1335
01:37:05,172 --> 01:37:06,612
They got to bring me down there and prove it.

1336
01:37:06,692 --> 01:37:07,432
It's great.

1337
01:37:07,632 --> 01:37:09,152
Bring me in and let me go.

1338
01:37:09,912 --> 01:37:10,172
All right.

1339
01:37:10,492 --> 01:37:13,172
Bitcoin flashed its fresh golden cross.

1340
01:37:13,672 --> 01:37:15,192
This was on December 17th.

1341
01:37:15,192 --> 01:37:16,772
104,000 views.

1342
01:37:17,472 --> 01:37:18,132
What does this mean?

1343
01:37:18,452 --> 01:37:24,532
Bitcoin has just experienced its fifth golden cross, a technical signal, historically followed by significant price rallies.

1344
01:37:24,532 --> 01:37:25,012
Yeah.

1345
01:37:25,392 --> 01:37:27,532
This means that this will be the first time it breaks.

1346
01:37:27,532 --> 01:37:36,192
because every time something becomes well followed it doesn't work again so quit posting

1347
01:37:36,192 --> 01:37:40,772
this shit so that it keeps working previous golden crosses were followed by strong

1348
01:37:40,772 --> 01:37:51,192
price advances of 87 40 percent 78 33 33 like the freemason number historically these crossover

1349
01:37:51,192 --> 01:37:56,012
signals appeared early in cycles during times of hesitation and doubt before widespread optimism

1350
01:37:56,012 --> 01:38:01,532
in return all right well we'll see this means there's like groundhogs day this is like six

1351
01:38:01,532 --> 01:38:09,052
more weeks of a down market all right let's go on to the next one uh what do we got here

1352
01:38:12,092 --> 01:38:20,252
you tell me dude i'm opening it up okay this is from there's another recent one 12 22.

1353
01:38:20,252 --> 01:38:25,992
the gold chart yeah breaking gold just hit a new all-time high and history shows that bitcoin

1354
01:38:25,992 --> 01:38:33,992
always follows it with a lag i could quit talking about this shit another groundhog's day here

1355
01:38:33,992 --> 01:38:41,472
uh but this happened in 2016 2017 gold starts trending up first did i have a way still slow

1356
01:38:41,472 --> 01:38:48,132
to start do you have any charts i have on trading view with shit that people have said always work

1357
01:38:48,132 --> 01:38:49,492
that just don't work anymore.

1358
01:38:49,572 --> 01:38:50,532
Dude, this is depressing now.

1359
01:38:50,592 --> 01:38:53,432
We got six more weeks of Bitcoin sideways.

1360
01:38:54,672 --> 01:38:54,992
All right.

1361
01:38:55,052 --> 01:38:56,192
Well, is that the way to end the year?

1362
01:38:57,152 --> 01:38:57,612
I don't know.

1363
01:38:58,032 --> 01:39:00,292
Okay, this is the way you need to end the year.

1364
01:39:02,572 --> 01:39:04,052
You better buy more Bitcoin.

1365
01:39:05,352 --> 01:39:06,112
You need it.

1366
01:39:07,532 --> 01:39:08,472
We all need it.

1367
01:39:11,432 --> 01:39:12,592
This is an opportunity

1368
01:39:12,592 --> 01:39:15,352
to accumulate the coins

1369
01:39:15,352 --> 01:39:19,672
and get to the targets that you want faster.

1370
01:39:22,152 --> 01:39:27,572
Well, I think my biggest tweet of 2025 was probably,

1371
01:39:27,692 --> 01:39:29,472
I think it got 10,000 likes,

1372
01:39:29,712 --> 01:39:31,632
was Bitcoin will never go to zero

1373
01:39:31,632 --> 01:39:36,472
because I just put in an order for all 21 million Bitcoin at $1.

1374
01:39:36,472 --> 01:39:37,312
Oh, yes, that's right.

1375
01:39:38,772 --> 01:39:42,692
I don't know if it shows your sentiments really good or really bad,

1376
01:39:42,692 --> 01:39:44,732
but I guess people are really excited

1377
01:39:44,732 --> 01:39:45,532
it's not going to zero

1378
01:39:45,532 --> 01:39:48,012
you know another one was

1379
01:39:48,012 --> 01:39:50,592
if you own a $20,000 Toyota Camry

1380
01:39:50,592 --> 01:39:52,692
and have two Bitcoin worth $230,000

1381
01:39:52,692 --> 01:39:54,472
in cold storage people think you're broke

1382
01:39:54,472 --> 01:39:56,912
but if you finance a $230,000

1383
01:39:56,912 --> 01:39:58,392
G-Wagon and have

1384
01:39:58,392 --> 01:40:00,632
$20,000 in the bank people think you're rich

1385
01:40:00,632 --> 01:40:03,032
and I think

1386
01:40:03,032 --> 01:40:04,932
that says a lot about where we are

1387
01:40:04,932 --> 01:40:05,832
I think it's true

1388
01:40:05,832 --> 01:40:08,792
alright well this has been Bitcoin Center

1389
01:40:08,792 --> 01:40:10,852
brought to you by Byte Federal Go Bank Yourself

1390
01:40:10,852 --> 01:40:11,912
we got the point of sale

1391
01:40:11,912 --> 01:40:14,232
We got the crypto wallet and the Bitcoin ATMs.

1392
01:40:14,892 --> 01:40:15,432
Buy the Bitcoin.

1393
01:40:15,592 --> 01:40:16,572
Put it in self-custody.

1394
01:40:16,732 --> 01:40:17,712
Stamp your seed phrase.

1395
01:40:17,832 --> 01:40:18,832
Maybe use micro seed.

1396
01:40:18,932 --> 01:40:19,772
Use the code matrix.

1397
01:40:20,792 --> 01:40:21,792
Take care of your health.

1398
01:40:22,012 --> 01:40:24,952
Be a self-custody maximalist.

1399
01:40:25,972 --> 01:40:27,312
Use crowd health.

1400
01:40:28,132 --> 01:40:30,652
How does it feel to get BTC coal this Christmas?

1401
01:40:30,792 --> 01:40:31,452
What does this mean?

1402
01:40:31,792 --> 01:40:32,312
Coal, dude.

1403
01:40:32,332 --> 01:40:35,192
You just stick it into your diamond hands and it becomes Bitcoin.

1404
01:40:35,852 --> 01:40:37,432
It's going to be a great Christmas in retrospect.

1405
01:40:38,392 --> 01:40:39,092
It's good, dude.

1406
01:40:39,112 --> 01:40:40,312
It's all of 2025.

1407
01:40:40,312 --> 01:40:41,332
I like it.

1408
01:40:41,912 --> 01:40:50,312
down if i asked you at the beginning of the year would you be excited and happy if i told you know

1409
01:40:50,312 --> 01:40:55,272
if you had future now that now is going to be a sideways year and you could stack all year and

1410
01:40:55,272 --> 01:41:00,472
you had that in hand in january but you had you had to accept that no blow off top in 2025 would

1411
01:41:01,192 --> 01:41:08,152
no i've always wanted to stack below 100. so i've always i've always felt like anything over 100

1412
01:41:08,152 --> 01:41:13,752
i was overpaying do you think uh in 2025 i'm happy with this did we have a lot of time under 100.

1413
01:41:14,392 --> 01:41:19,752
no not enough not a lot of time under 100. and we went there fast like kind of going up right

1414
01:41:19,752 --> 01:41:27,032
but then we stayed above we went down we went about like it wasn't all under 100. yeah so maybe

1415
01:41:27,032 --> 01:41:33,592
maybe a lot of people spent their bullets so in you know july at 115. reload buddy all right reload

1416
01:41:33,592 --> 01:41:34,012
All right.

1417
01:41:34,172 --> 01:41:36,952
Any more questions or comments, please hit like and subscribe.

1418
01:41:37,232 --> 01:41:44,292
We do this every week, Tuesdays at 8 p.m. Eastern, except for next week, I think, the holidays.

1419
01:41:44,572 --> 01:41:48,572
But every Tuesday, tune in Bitcoin Center brought to you by Byte Federal.

1420
01:41:49,592 --> 01:41:50,472
Any parting words?

1421
01:41:51,552 --> 01:41:52,112
Buy more Bitcoin.

1422
01:41:53,152 --> 01:41:53,952
There you go.

1423
01:41:54,392 --> 01:41:55,072
Buy more Bitcoin.

1424
01:41:55,212 --> 01:41:56,232
Put it in self-custody.

1425
01:41:56,492 --> 01:41:58,052
I don't know what else there is to do.

1426
01:41:58,172 --> 01:41:58,712
Use it.

1427
01:41:58,852 --> 01:41:59,832
Spend and replace.

1428
01:42:00,532 --> 01:42:01,192
Run a node.

1429
01:42:01,192 --> 01:42:03,652
Yeah, but I'm looking out for you

1430
01:42:03,652 --> 01:42:05,392
Run privacy software

1431
01:42:05,392 --> 01:42:07,872
We need more anonymous developers

1432
01:42:07,872 --> 01:42:10,232
That's the way I think we need

1433
01:42:10,232 --> 01:42:12,232
Less hired and funded developers

1434
01:42:12,232 --> 01:42:13,112
More anonymous developers

1435
01:42:13,112 --> 01:42:16,152
I think you should start vibe coding

1436
01:42:16,152 --> 01:42:16,932
After the show

1437
01:42:16,932 --> 01:42:19,872
That would fail miserably

1438
01:42:19,872 --> 01:42:20,432
Alright

1439
01:42:20,432 --> 01:42:22,912
Alright Francis, is that it?

1440
01:42:22,992 --> 01:42:23,752
You want to run the outro?

1441
01:42:31,192 --> 01:42:33,452
.