1 00:00:00,000 --> 00:00:09,840 Hello, everybody. My name is Daniel Prince, and I'm the host of the Once Bitten podcast. 2 00:00:10,400 --> 00:00:17,560 This is a podcast focused on Bitcoin. It's my mission to interview as many people as I can 3 00:00:17,560 --> 00:00:24,540 around the different aspects of Bitcoin and help people understand exactly what Bitcoin could mean 4 00:00:24,540 --> 00:00:29,560 for them and for their families and for their future. I hope you enjoy the show. Thank you so 5 00:00:29,560 --> 00:00:36,460 much for listening. Hello everybody and welcome to this episode of the Once Bitten podcast. 6 00:00:36,600 --> 00:00:43,500 Joining me today is Andre Loja, a very good friend of mine from Madeira. This is the guy 7 00:00:43,500 --> 00:00:47,980 that was responsible for putting together, with his team of course, but it was his big idea, 8 00:00:48,240 --> 00:00:53,700 putting together the Free Madeira organization and you will learn what the acronym for free 9 00:00:53,700 --> 00:01:02,000 stands for. It's genius. He's also the guy that managed to put together, again with an excellent 10 00:01:02,000 --> 00:01:08,160 team, the Free Madeira concert. Not the concert. Well, there was a concert as well. That was on 11 00:01:08,160 --> 00:01:14,620 the Saturday night. But the conference, we had the most amazing time. And look out for the next 12 00:01:14,620 --> 00:01:21,800 conference in Madeira, which will be 2028. The original one took place March 2024. We had a 13 00:01:21,800 --> 00:01:29,400 football stadium to fill and fill it we almost did with Bitcoiners. I can't imagine what Madeira 14 00:01:29,400 --> 00:01:34,440 2028 is going to be like. If you've not been and visited Madeira you certainly should do. The 15 00:01:34,440 --> 00:01:39,720 grassroots effort on the ground there is absolutely astonishing. You also have the 16 00:01:39,720 --> 00:01:45,820 Sovereign Engineering Cohort over there which is run by Gigi where anybody can go and sign up 17 00:01:45,820 --> 00:01:53,740 and do a two to three month long hackathon program to get your project off the ground or just get your 18 00:01:53,740 --> 00:01:58,460 skills right to where they need to be so you can get your project off the ground there are bitcoiners 19 00:01:58,460 --> 00:02:04,060 crawling all over the island there's hundreds of merchants that accept bitcoin you can literally 20 00:02:04,060 --> 00:02:12,140 live there on a bitcoin standard it has a tropical climate it is a beautiful paradise and it's in 21 00:02:12,140 --> 00:02:19,160 Europe and now with Andre's latest adventure he started a fund it's called 22 00:02:19,160 --> 00:02:26,660 the Basalto fund that's spelled B-A-S-A-L-T-O and obviously we're gonna get 23 00:02:26,660 --> 00:02:32,780 into the weeds of that but a quick nutshell review a Bitcoin investment fund 24 00:02:32,780 --> 00:02:39,420 and golden visa pathway gain Bitcoin exposure and EU citizenship through ego 25 00:02:39,420 --> 00:02:46,760 death funds the Balsalto fund where innovation meets residency so yes you can get a passport 26 00:02:46,760 --> 00:02:50,860 and you will find out why just keep listening to this show and if it's something that you're 27 00:02:50,860 --> 00:02:56,420 interested in looking at please reach out to Andre directly on his twitter feed or reach out to 28 00:02:56,420 --> 00:03:03,000 Freemadeira or go find Balsalto fund on twitter or NOSTA all the links will be in the show notes 29 00:03:03,000 --> 00:03:09,380 for you. It's a very interesting proposition and something, especially if you're a Brit, 30 00:03:09,800 --> 00:03:14,600 might be looking into doing. Anyway, before we get into the show, please make sure you are 31 00:03:14,600 --> 00:03:19,160 supporting the show sponsors. You can do that by visiting their website or downloading their apps 32 00:03:19,160 --> 00:03:25,620 and using their services or buying their goods. So where to start buying Bitcoin? If you're new, 33 00:03:26,100 --> 00:03:31,680 set up a dollar cost average scheme. 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So go check out bubble.fm, 58 00:05:52,340 --> 00:06:00,400 link in the show notes meanwhile here's andre all right we're recording andre we're back back 59 00:06:00,400 --> 00:06:05,460 on the once bitten podcast good to see you mate good to see you man how are you how are you very 60 00:06:05,460 --> 00:06:12,340 good i'm good thank you well lauren's here andre's relaxed fresh off of his holiday so you can't 61 00:06:12,340 --> 00:06:19,740 phase him so go go ahead what what do you have oh my god the pressure daddy was telling me about 62 00:06:19,740 --> 00:06:28,060 your project and about um an investment fund kind of thing and you invest and you're able to get like 63 00:06:28,060 --> 00:06:35,140 um a portuguese passport or something like that um if you want you can explain more about it but 64 00:06:35,140 --> 00:06:40,120 i want to know on how that would help people if you believe the portuguese passport is awesome 65 00:06:40,120 --> 00:06:46,920 as you're saying no it is yeah it was it was an idea that we had for a long time um 66 00:06:46,920 --> 00:06:49,680 a lot of Bitcoiners 67 00:06:49,680 --> 00:06:52,280 you know with the plan B 68 00:06:52,280 --> 00:06:53,440 having a plan B 69 00:06:53,440 --> 00:06:57,420 European passport was 70 00:06:57,420 --> 00:06:59,920 something worthwhile to have 71 00:06:59,920 --> 00:07:02,340 and in the beginning 72 00:07:02,340 --> 00:07:04,320 we thought about doing some real estate 73 00:07:04,320 --> 00:07:06,200 mix where you could apply for the golden 74 00:07:06,200 --> 00:07:08,100 visa but then the government 75 00:07:08,100 --> 00:07:09,560 stopped that a while ago 76 00:07:09,560 --> 00:07:11,840 you know 77 00:07:11,840 --> 00:07:14,160 but it gave us an even better 78 00:07:14,160 --> 00:07:16,380 idea so we created 79 00:07:16,380 --> 00:07:25,960 this investment fund where we keep 80% of the investment in BTC directly and the other 80% 80 00:07:25,960 --> 00:07:34,460 on VC investments on the ecosystem with our partners, EgoDeath. And that way you can invest 81 00:07:34,460 --> 00:07:40,100 in Portugal, invest in ecosystem and at the same time apply for the Golden Visa. 82 00:07:41,600 --> 00:07:45,260 Sorry, did you just say 80% and then how much invested in EgoDeath? 83 00:07:45,260 --> 00:07:54,440 so we we invest a minimum of 80 percent in the asset directly into bitcoin yes into bitcoin 84 00:07:54,440 --> 00:08:02,440 and up to 20 percent we will invest on ego death right okay i i i thought i thought you said 18 18 85 00:08:02,440 --> 00:08:10,320 before but uh right okay 20 right okay got you uh so does that make sense then uh lauren right okay 86 00:08:10,320 --> 00:08:19,960 And Ego Death is Jeff Booth's fund, which he runs with people like Lynn Olden and Preston Pish and a bunch of others. 87 00:08:20,700 --> 00:08:31,520 So you are getting possibly the upside of any of the good deals that they make in their fund as well. 88 00:08:32,900 --> 00:08:34,500 Yes, that's the idea. 89 00:08:35,560 --> 00:08:37,440 And a Portuguese passport. 90 00:08:37,440 --> 00:08:42,720 well but to begin with you get the the what you would call the golden visa uh the um no you get 91 00:08:42,720 --> 00:08:49,360 the residency uh as soon as you we make the application um you you'll have to be you'll have 92 00:08:49,360 --> 00:08:56,240 to visit portugal uh for you know a couple of weeks every two years so basically a week per year 93 00:08:57,120 --> 00:09:04,960 um and you'll get uh after five years you you can get you will get the the portuguese passport 94 00:09:04,960 --> 00:09:13,380 and you can reunite the the you know the spouse and the kids as well so that's for all everybody 95 00:09:13,380 --> 00:09:19,380 right okay well you've set this up nicely lauren because we've got a hell of a lot of details now 96 00:09:19,380 --> 00:09:25,200 the listeners are going to want to listen to about this especially if they're planning a plan b 97 00:09:25,200 --> 00:09:34,380 very interesting for people in the uk uh because of the rug pull uh their their passport only 98 00:09:34,380 --> 00:09:38,280 allows them to visit a maximum of 90 days in Europe. 99 00:09:38,800 --> 00:09:39,680 When was the rug pull? 100 00:09:39,840 --> 00:09:40,380 Time flies. 101 00:09:41,240 --> 00:09:48,900 Well, they voted for Brexit in 2016, which, you know, whatever, decentralize all the things 102 00:09:48,900 --> 00:09:49,760 down with that. 103 00:09:49,960 --> 00:09:50,920 I wasn't at the time. 104 00:09:51,000 --> 00:09:53,440 I was still very much a normie back in those days. 105 00:09:54,000 --> 00:10:01,800 And part of that severance, which finally went through in 2018, was now you are a UK 106 00:10:01,800 --> 00:10:08,760 passport holder and you don't have freedom of movement in air quotes because it is still in 107 00:10:08,760 --> 00:10:14,640 air quotes yeah you don't have that freedom of movement in europe and you're not you'd need a 108 00:10:14,640 --> 00:10:21,700 visa to apply to work and all this kind of stuff so if you were a digital nomad uh you know joe 109 00:10:21,700 --> 00:10:25,760 nakamoto can talk about this a lot because this is what he's been doing he's been traveling a lot 110 00:10:25,760 --> 00:10:31,740 uh on a uk or british passport all of a sudden you went from yeah i can spend as long as i like 111 00:10:31,740 --> 00:10:38,540 in europe i can work in europe to 90 days and you're out pal and the funny thing is as you know 112 00:10:38,540 --> 00:10:46,300 i had to when i visited uh england and we had this uh very cool launch in london um 113 00:10:46,300 --> 00:10:53,700 i had to do the eta which was something that we were also not used to do to visit uh england that 114 00:10:53,700 --> 00:10:57,780 so I had to do the KYC 115 00:10:57,780 --> 00:10:59,000 and all the bullshit 116 00:10:59,000 --> 00:11:01,880 and you know recognize my face 117 00:11:01,880 --> 00:11:02,880 on a map 118 00:11:02,880 --> 00:11:05,340 very dystopian so I could 119 00:11:05,340 --> 00:11:07,060 you know go watch a play 120 00:11:07,060 --> 00:11:09,640 it's all 121 00:11:09,640 --> 00:11:11,480 all of this creep is so disgusting 122 00:11:11,480 --> 00:11:13,840 it's so so disgusting 123 00:11:13,840 --> 00:11:15,260 I just want it all to be gone 124 00:11:15,260 --> 00:11:19,920 yeah what was the other thing I was going to say 125 00:11:19,920 --> 00:11:20,740 about this stuff 126 00:11:20,740 --> 00:11:22,960 passports, digital ID 127 00:11:22,960 --> 00:11:25,800 I mean, this is where we're all heading. 128 00:11:25,800 --> 00:11:29,500 Yeah, we were in France at the time this all started going on. 129 00:11:29,500 --> 00:11:51,872 And it funny because a lot of the older generation Brits were all like voting Brexit Oh we don want to be governed by the the the assholes in Brussels anymore and whatever blah blah blah Like I said back in those days I was on the other side of the fence I would have voted to stay and be one big happy family and whatever 130 00:11:53,292 --> 00:11:54,912 I've now changed my view on that. 131 00:11:55,352 --> 00:11:56,252 Break up the EU. 132 00:11:56,592 --> 00:11:58,392 Everybody should just start breaking away. 133 00:11:58,752 --> 00:11:59,932 But look what's happening. 134 00:12:00,032 --> 00:12:03,712 Bulgaria now is just about to start accepting euro and get rid of the nerve. 135 00:12:03,712 --> 00:12:05,512 I actually saw 136 00:12:05,512 --> 00:12:08,132 I saw it because I saw your post on Twitter 137 00:12:08,132 --> 00:12:10,332 I wasn't even watching the news on that 138 00:12:10,332 --> 00:12:12,292 So this creep 139 00:12:12,292 --> 00:12:13,512 keeps coming but the 140 00:12:13,512 --> 00:12:15,992 old people that 141 00:12:15,992 --> 00:12:18,192 owned a house in France or 142 00:12:18,192 --> 00:12:20,312 Spain who voted for 143 00:12:20,312 --> 00:12:22,152 Brexit suddenly 144 00:12:22,152 --> 00:12:24,132 got the shock 145 00:12:24,132 --> 00:12:25,472 when they realised oh 146 00:12:25,472 --> 00:12:28,032 we can't live here anymore 147 00:12:28,032 --> 00:12:30,032 we can only stay 90 days 148 00:12:30,032 --> 00:12:31,412 and then we've got to 149 00:12:31,412 --> 00:12:33,532 or we've got to apply for a visa 150 00:12:33,532 --> 00:12:39,232 and it's like wow guys like you know that explains that explains a lot about how people do not think 151 00:12:39,232 --> 00:12:45,532 about stuff the second order effect yeah the second order effects because that probably that 152 00:12:45,532 --> 00:12:50,492 rule probably wasn't on the table i don't know what policies were put out there up front but 153 00:12:50,492 --> 00:12:59,452 as soon as these things happen you are literally green lighting bureaucrats to go crazy on rules 154 00:12:59,452 --> 00:13:03,552 It's like, right now, OK, we've got to change all the fishing laws. 155 00:13:03,632 --> 00:13:05,012 We've got to change all the visa laws. 156 00:13:05,072 --> 00:13:07,672 We've got to change all the import-export laws. 157 00:13:08,312 --> 00:13:10,192 Then you can bloat the government. 158 00:13:10,832 --> 00:13:12,452 And that's why you end up with you guys. 159 00:13:12,652 --> 00:13:16,272 When you visit the UK, you now have to take a selfie of yourself, pay. 160 00:13:16,392 --> 00:13:18,612 How much was it for this ETA? 161 00:13:18,712 --> 00:13:19,832 What does ETA stand for? 162 00:13:19,892 --> 00:13:21,892 Well, that was not a problem, right? 163 00:13:22,052 --> 00:13:23,972 The payment, although it's another tax. 164 00:13:23,972 --> 00:13:26,712 but I was more 165 00:13:26,712 --> 00:13:28,932 upset about the whole process 166 00:13:28,932 --> 00:13:30,812 and it feels dystopian 167 00:13:30,812 --> 00:13:32,952 like you have to download 168 00:13:32,952 --> 00:13:35,032 an app and do the facial scan 169 00:13:35,032 --> 00:13:36,292 and all of that 170 00:13:36,292 --> 00:13:40,972 I would happily pay the tax not to do that 171 00:13:40,972 --> 00:13:41,372 part 172 00:13:41,372 --> 00:13:44,872 if it was just about the money but it's not 173 00:13:44,872 --> 00:13:48,432 it's not 174 00:13:48,432 --> 00:13:50,792 it's crazy up there 175 00:13:50,792 --> 00:13:51,232 basically 176 00:13:51,232 --> 00:13:53,892 anyway the walls are closing in 177 00:13:53,892 --> 00:13:54,832 We have to fight back. 178 00:13:55,332 --> 00:13:55,772 Opt out. 179 00:13:56,092 --> 00:13:57,372 Right, Lauren, you want to say goodbye then? 180 00:13:58,192 --> 00:13:58,912 Yeah, I can. 181 00:13:59,052 --> 00:13:59,552 Thank you. 182 00:13:59,652 --> 00:14:01,032 Thank you for answering my question. 183 00:14:01,572 --> 00:14:02,232 Thank you, Lauren. 184 00:14:02,632 --> 00:14:03,212 Thank you. 185 00:14:03,312 --> 00:14:03,752 Bye-bye. 186 00:14:03,812 --> 00:14:04,372 See you soon. 187 00:14:04,692 --> 00:14:05,232 Yeah, thank you. 188 00:14:05,812 --> 00:14:07,712 All right, well, that's where we'll start. 189 00:14:07,792 --> 00:14:10,252 We've got like three or four different things that we want to touch on. 190 00:14:10,732 --> 00:14:14,592 The fund obviously was one of them, but we may as well. 191 00:14:15,092 --> 00:14:18,052 Now that carrot has been dangled to the listeners, 192 00:14:18,272 --> 00:14:19,932 we should probably drill down into that. 193 00:14:19,932 --> 00:14:22,852 So what's the name of the fund? 194 00:14:22,952 --> 00:14:23,592 Let's start there. 195 00:14:23,892 --> 00:14:26,672 So the fund is called Basalto Fund. 196 00:14:28,352 --> 00:14:31,672 It was inspired by the hard rock in Madeira, 197 00:14:31,832 --> 00:14:33,872 which is called Basalto, the black stone 198 00:14:33,872 --> 00:14:35,512 where Madeira sits on top of. 199 00:14:37,052 --> 00:14:39,652 We did use, it was a big inspiration 200 00:14:39,652 --> 00:14:41,492 for the logo of Bitcoin Atlantis. 201 00:14:41,592 --> 00:14:42,712 I don't know if you record that. 202 00:14:42,992 --> 00:14:43,132 Yeah. 203 00:14:44,652 --> 00:14:46,372 So we called it Basalto Fund, 204 00:14:46,512 --> 00:14:50,392 you know, sitting on a hard base 205 00:14:50,392 --> 00:14:51,392 and a hard foundation. 206 00:14:51,392 --> 00:14:52,512 And a hard asset. 207 00:14:52,512 --> 00:14:59,772 hard assets so as i was telling lord we can go a bit on more on the details as i was 208 00:14:59,772 --> 00:15:07,132 and the history you know um a very a common friend of ours jeff booth we discussed this 209 00:15:07,132 --> 00:15:15,932 a long time ago actually i think since the first visit that you guys made here in june 2022 yeah 210 00:15:15,932 --> 00:15:20,052 and at the time they allowed 211 00:15:20,052 --> 00:15:23,832 or you could apply for the golden visa 212 00:15:23,832 --> 00:15:25,652 with a real estate investment 213 00:15:25,652 --> 00:15:28,992 so the idea was 214 00:15:28,992 --> 00:15:31,012 because I have some experience with real estate 215 00:15:31,012 --> 00:15:33,212 my biggest fiat company 216 00:15:33,212 --> 00:15:35,712 is an island of Parthas 217 00:15:35,712 --> 00:15:37,432 the vacation rental management 218 00:15:37,432 --> 00:15:40,672 and we do manage a lot of properties 219 00:15:40,672 --> 00:15:42,072 here in the archipelago 220 00:15:42,072 --> 00:15:44,132 because we do both Madera and Porto Santo 221 00:15:44,132 --> 00:15:44,932 the smaller island 222 00:15:44,932 --> 00:15:48,832 so we had the idea to create this fund 223 00:15:48,832 --> 00:15:51,452 where we would invest in real estate 224 00:15:51,452 --> 00:15:52,772 and manage the real estate 225 00:15:52,772 --> 00:15:54,732 with the Bitcoin component of course 226 00:15:54,732 --> 00:15:58,452 but then we were rug pulled by the government 227 00:15:58,452 --> 00:15:59,852 you know all the 228 00:15:59,852 --> 00:16:04,232 there was a socialist party 229 00:16:04,232 --> 00:16:06,212 in the national government 230 00:16:06,212 --> 00:16:07,412 there is still 231 00:16:07,412 --> 00:16:09,212 they call it center right but it's not 232 00:16:09,212 --> 00:16:12,392 but it's a bit better now 233 00:16:12,392 --> 00:16:18,352 But at the time, there was a lot of pressure from the left wing parties at the parliament. 234 00:16:19,152 --> 00:16:24,652 And of course, they blamed all the wrong things because of the housing prices and everything. 235 00:16:24,972 --> 00:16:26,332 So they stopped. 236 00:16:26,772 --> 00:16:33,812 One of the things they did was stop the real estate component of the golden visa investment. 237 00:16:33,812 --> 00:16:35,112 What was the history of that? 238 00:16:35,212 --> 00:16:37,412 How long had that already been running? 239 00:16:37,412 --> 00:16:42,772 because I do remember a lot of people were using that to get the golden visa. 240 00:16:43,012 --> 00:16:43,732 And why was it? 241 00:16:43,732 --> 00:16:45,952 Yeah, but not as much as people think. 242 00:16:46,192 --> 00:16:48,472 If you look at the overall numbers, it's not as much. 243 00:16:48,612 --> 00:16:51,172 It didn't move the real estate market. 244 00:16:51,452 --> 00:16:53,952 It was not at all the problem, right? 245 00:16:54,092 --> 00:16:54,612 So that's nonsense. 246 00:16:54,612 --> 00:16:56,372 And actually, yeah, it's nonsense. 247 00:16:56,372 --> 00:17:01,432 And I would even argue that some of the investments were good 248 00:17:01,432 --> 00:17:05,992 because there were some investments of building or renovating a building 249 00:17:05,992 --> 00:17:07,592 to have apartments to rent. 250 00:17:07,972 --> 00:17:10,152 So to put them on the market. 251 00:17:11,052 --> 00:17:14,052 So it didn't make sense, but whatever. 252 00:17:14,212 --> 00:17:15,172 They cut it out. 253 00:17:16,352 --> 00:17:17,432 When did it start? 254 00:17:17,512 --> 00:17:18,932 When did they start running that program? 255 00:17:19,732 --> 00:17:20,612 I don't remember. 256 00:17:20,712 --> 00:17:21,312 A long time ago. 257 00:17:21,392 --> 00:17:22,312 It's been running for a while. 258 00:17:23,392 --> 00:17:24,912 But then they stopped the real estate investment, 259 00:17:25,272 --> 00:17:26,512 I don't know, two, three years ago. 260 00:17:26,672 --> 00:17:27,952 I don't even recall it now. 261 00:17:28,692 --> 00:17:29,552 Maybe two years ago. 262 00:17:30,672 --> 00:17:35,592 So the idea just was there on the back burner. 263 00:17:35,992 --> 00:17:39,972 but then I saw 264 00:17:39,972 --> 00:17:42,852 this was the beginning of last year maybe 265 00:17:42,852 --> 00:17:43,432 I don't know 266 00:17:43,432 --> 00:17:47,792 I saw an investment fund 267 00:17:47,792 --> 00:17:49,812 because that option was still available 268 00:17:49,812 --> 00:17:52,232 you could invest in an investment fund 269 00:17:52,232 --> 00:17:54,412 and apply for the golden visit 270 00:17:54,412 --> 00:18:00,132 there was a company that did an investment fund 271 00:18:00,132 --> 00:18:04,532 that claimed that they were the first Bitcoin investment fund 272 00:18:04,532 --> 00:18:05,512 in Portugal and so on 273 00:18:05,512 --> 00:18:11,472 but then you know when you look at the small letters it wasn't really like that right so 274 00:18:11,472 --> 00:18:20,212 you there was the the gate was open for web3 and blockchain investments and companies based in 275 00:18:20,212 --> 00:18:27,732 portugal and so on and even the btc that they were gonna buy was uh ibid was you know blackrock 276 00:18:27,732 --> 00:18:28,932 ETF shares. 277 00:18:29,952 --> 00:18:33,172 So my first reaction was, 278 00:18:33,272 --> 00:18:34,712 bullshit. 279 00:18:36,052 --> 00:18:38,412 Must be run by shitcoiners for sure. 280 00:18:40,852 --> 00:18:43,252 But then, I don't know, 281 00:18:43,372 --> 00:18:45,132 probably in the bath or running 282 00:18:45,132 --> 00:18:48,332 as we always get the ideas. 283 00:18:48,572 --> 00:18:49,872 I was like, what? 284 00:18:50,192 --> 00:18:51,632 If these guys can do that, 285 00:18:51,992 --> 00:18:52,812 maybe there's an option. 286 00:18:52,912 --> 00:18:54,672 We can do a better product for Bitcoiners. 287 00:18:55,072 --> 00:18:56,692 So I started digging 288 00:18:56,692 --> 00:18:59,572 and I had no experience in investment funds whatsoever, 289 00:18:59,892 --> 00:19:02,172 but I started digging, talking to a few friends. 290 00:19:02,292 --> 00:19:04,712 I have some people that I know on my network 291 00:19:04,712 --> 00:19:06,372 that are very experienced on that. 292 00:19:07,092 --> 00:19:09,652 And we ended up talking with Nunu, 293 00:19:09,892 --> 00:19:12,672 which is my partner in another business. 294 00:19:13,492 --> 00:19:18,352 And he works as a very good tax lawyer in Lisbon. 295 00:19:19,172 --> 00:19:21,612 And we started digging all the details 296 00:19:21,612 --> 00:19:24,092 and we realized that, yes, 297 00:19:24,092 --> 00:19:26,512 it would be possible to create a better product. 298 00:19:26,692 --> 00:19:51,612 And so the idea is very simple, is of all the universe of investment funds that you can invest in Portugal that are eligible for the golden visa, we wanted to create an option just for Bitcoiners, where you wouldn't lose the exposure to the asset. 299 00:19:51,612 --> 00:19:53,272 first of all 300 00:19:53,272 --> 00:19:55,672 because most of the other 301 00:19:55,672 --> 00:19:58,012 I would say 99.9% of the other 302 00:19:58,012 --> 00:19:59,832 investment funds are fiat based business 303 00:19:59,832 --> 00:20:02,312 like solar panels somewhere or housing 304 00:20:02,312 --> 00:20:03,912 well not housing anymore but 305 00:20:03,912 --> 00:20:05,112 you know different stuff 306 00:20:05,112 --> 00:20:08,132 where you basically would have to sell 307 00:20:08,132 --> 00:20:10,252 your Bitcoin to lose totally 308 00:20:10,252 --> 00:20:12,392 the exposure to Bitcoin for 8 years 309 00:20:12,392 --> 00:20:13,932 so 2 halvings 310 00:20:13,932 --> 00:20:18,052 so yeah we ended up 311 00:20:18,052 --> 00:20:18,752 designing it 312 00:20:18,752 --> 00:20:21,612 as I was 313 00:20:21,612 --> 00:20:23,052 saying to Lauren 314 00:20:23,052 --> 00:20:25,292 a minimum of 80% 315 00:20:25,292 --> 00:20:26,912 goes to BTC directly 316 00:20:26,912 --> 00:20:29,612 we partnered with NIDIC 317 00:20:29,612 --> 00:20:31,572 we wanted a big 318 00:20:31,572 --> 00:20:33,132 reputable name to 319 00:20:33,132 --> 00:20:35,052 work on the custody side of things 320 00:20:35,052 --> 00:20:37,472 so we are working 321 00:20:37,472 --> 00:20:39,372 exclusively with NIDIC for the custody 322 00:20:39,372 --> 00:20:39,992 of the funds 323 00:20:39,992 --> 00:20:43,152 we will even create, it's not done yet 324 00:20:43,152 --> 00:20:45,172 but we'll create an open source 325 00:20:45,172 --> 00:20:46,512 mempool page where you can see 326 00:20:46,512 --> 00:20:48,032 the wallets 327 00:20:48,032 --> 00:20:52,352 where you can see the assets that are under custody on the fund. 328 00:20:54,052 --> 00:21:00,192 But we created a little bit of an incentive also to, you know, 329 00:21:00,252 --> 00:21:02,472 to help the Bitcoin ecosystem as well. 330 00:21:03,012 --> 00:21:06,992 So we partnered with EgoDead, Jeff Boots' company. 331 00:21:08,392 --> 00:21:11,352 Niku and Andy, they run the company full-time, 332 00:21:11,992 --> 00:21:16,112 but there's also Jeff, Preston and Lynn are very much involved 333 00:21:16,112 --> 00:21:18,352 in all the details and investments they do. 334 00:21:19,472 --> 00:21:22,372 Actually, they just closed the second fund at $100 million. 335 00:21:22,552 --> 00:21:24,452 I don't know if you've heard of this, but... 336 00:21:24,452 --> 00:21:26,352 We wanted to create a component 337 00:21:26,352 --> 00:21:31,332 not only to help the ecosystem grow 338 00:21:31,332 --> 00:21:35,152 and have all the right incentives in place, 339 00:21:35,632 --> 00:21:40,592 but also I do believe in the work that they're doing. 340 00:21:41,192 --> 00:21:43,272 And I believe they're going to be very successful. 341 00:21:43,892 --> 00:21:45,692 So in my view, it was a way, 342 00:21:45,692 --> 00:21:49,412 because our fund is also eight years in maturity. 343 00:21:49,792 --> 00:21:50,812 So two halvings. 344 00:21:51,312 --> 00:21:53,812 If you want to lock your Bitcoin for that much, 345 00:21:54,692 --> 00:21:56,672 because we have fees, of course, 346 00:21:56,752 --> 00:21:59,772 we charge 2% fees during the duration of the fund. 347 00:22:00,712 --> 00:22:05,212 This was my way to, in the end, 348 00:22:05,352 --> 00:22:06,692 give you more assets back 349 00:22:06,692 --> 00:22:08,912 than the ones you invest in the beginning. 350 00:22:09,072 --> 00:22:09,972 That's the whole idea. 351 00:22:10,792 --> 00:22:12,632 And hopefully we can do that 352 00:22:12,632 --> 00:22:17,252 with the ego debt and the VC investment side of the fund. 353 00:22:18,352 --> 00:22:19,332 Yeah, I get it. 354 00:22:19,432 --> 00:22:19,892 Right, okay. 355 00:22:19,952 --> 00:22:21,092 So let's walk people through it 356 00:22:21,092 --> 00:22:22,512 if they're kind of thinking, 357 00:22:22,672 --> 00:22:24,072 this sounds too good to be true, 358 00:22:24,172 --> 00:22:26,352 like a win-win-win situation. 359 00:22:26,352 --> 00:22:27,512 I get the passport. 360 00:22:28,312 --> 00:22:32,052 I'm forced into, it's a forced hodl, really. 361 00:22:32,292 --> 00:22:32,892 Yeah, it is. 362 00:22:33,292 --> 00:22:34,392 Eight-year forced hodl. 363 00:22:34,732 --> 00:22:40,712 With the potentiality of getting back my investment, 364 00:22:40,712 --> 00:22:49,612 perhaps even more if if you know things go all ego death all ego death need to have is is one big 365 00:22:49,612 --> 00:22:56,072 exit on one of these investments and uh exactly if you're exposed to that that money i assume 366 00:22:56,072 --> 00:23:01,552 comes back into the fund uh you will take obviously x amount of that um yeah how would 367 00:23:01,552 --> 00:23:08,292 you structure that if there's a big exit money comes back into the fund so the whole idea that 368 00:23:08,292 --> 00:23:11,532 the unit of measure is euros, of course, right? 369 00:23:11,532 --> 00:23:16,352 So in euros, in that fiat sheet coin, 370 00:23:16,352 --> 00:23:19,332 you will always get more euros back than you do 371 00:23:19,332 --> 00:23:33,924 because even if the ego that side of things goes to zero let say worst case scenario you still have 80 of the investment in BTC directly And we all know in eight years how the asset is going to perform Actually 372 00:23:33,924 --> 00:23:41,604 the whole idea is to not lose exposure to that depreciation, right? But we believe EgoDat is 373 00:23:41,604 --> 00:23:42,644 going to 374 00:23:42,644 --> 00:23:46,204 be successful. 375 00:23:47,704 --> 00:23:49,504 And so I would even argue 376 00:23:49,504 --> 00:23:51,624 that you can get, even if 377 00:23:51,624 --> 00:23:53,444 you change the unit of account 378 00:23:53,444 --> 00:23:55,564 to Sats, which is 379 00:23:55,564 --> 00:23:56,744 our unit of account, 380 00:23:57,544 --> 00:23:59,424 we want you to get more 381 00:23:59,424 --> 00:24:01,724 Sats back than you invested 382 00:24:01,724 --> 00:24:03,484 in the beginning. So we want 383 00:24:03,484 --> 00:24:05,244 the investors to be Sats flow positive. 384 00:24:05,824 --> 00:24:07,704 Even after the fees as well. 385 00:24:09,384 --> 00:24:11,364 Yes, hopefully. That's the goal. 386 00:24:11,604 --> 00:24:17,124 right man that's awesome so first of all we didn't even ask what's the minimum what's the 387 00:24:17,124 --> 00:24:22,084 amount that people have to invest obviously that's going to be a euro amount and that's 388 00:24:22,084 --> 00:24:26,724 going to be floating against the price of bitcoin um exactly the minimum amount is something like 389 00:24:26,724 --> 00:24:35,444 50k but of course 50k does not uh you know that does not um uh it's not applicable for the golden 390 00:24:35,444 --> 00:24:44,244 visa so if you do want um to be eligible for the golden visa um you have to invest a minimum of 500k 391 00:24:44,244 --> 00:24:50,924 okay and that's the that's the existing rules for the golden visa for another investment if you were 392 00:24:50,924 --> 00:24:55,344 to like invest in a solar farm or whatever else that's what other people are doing that's 500 000 393 00:24:55,344 --> 00:25:01,724 that's the set to apply for the golden visa which gets you the residency card which eventually gets 394 00:25:01,724 --> 00:25:03,604 you the passport 395 00:25:03,604 --> 00:25:04,824 for your whole family? 396 00:25:05,384 --> 00:25:05,684 Yes. 397 00:25:06,544 --> 00:25:08,304 Regardless of how many kids you've got? 398 00:25:09,424 --> 00:25:11,684 If they are still under your supports, 399 00:25:11,944 --> 00:25:12,744 that's the rule. 400 00:25:14,924 --> 00:25:15,484 Okay. 401 00:25:16,564 --> 00:25:17,544 So if you have 402 00:25:17,544 --> 00:25:19,464 10 kids and they're all, you know, 403 00:25:20,324 --> 00:25:21,824 the oldest one is still 404 00:25:21,824 --> 00:25:23,784 in university, all the other ones are still paying 405 00:25:23,784 --> 00:25:24,944 for their food and 406 00:25:24,944 --> 00:25:27,744 housing and whatever. If they're 407 00:25:27,744 --> 00:25:28,824 still under your wing, 408 00:25:29,464 --> 00:25:31,504 they can all apply for 409 00:25:31,504 --> 00:25:36,284 family reunification. So basically they can all apply for the golden visa, of course. 410 00:25:36,284 --> 00:25:44,744 And I have to clarify one thing. So the 500K is the minimum investment that you eligible 411 00:25:44,744 --> 00:25:50,224 for the golden visa. But then the golden visa process, it's on the side of this, right? 412 00:25:51,004 --> 00:25:57,004 You have to, we can help you do that, or you can work with whatever company you desire. 413 00:25:57,004 --> 00:26:01,164 You can work with a legal firm in Lisbon to do the golden visa process. 414 00:26:02,924 --> 00:26:05,184 And there will be costs to that as well. 415 00:26:06,324 --> 00:26:09,404 Because the government charges a fee per applicant, 416 00:26:10,024 --> 00:26:15,444 which is around 13 something K euros. 417 00:26:15,584 --> 00:26:17,724 So 13,000 euros per applicant. 418 00:26:17,964 --> 00:26:19,324 It's a lot of money still. 419 00:26:21,364 --> 00:26:25,084 And there will be fees like tax representative and this and that. 420 00:26:25,084 --> 00:26:27,324 there's some stuff that you need to pay on the side 421 00:26:27,324 --> 00:26:28,484 for the golden visa process. 422 00:26:29,204 --> 00:26:31,524 We estimate that for an individual, 423 00:26:32,644 --> 00:26:34,624 for the whole process, 424 00:26:34,804 --> 00:26:38,124 it will set you something like 540K. 425 00:26:38,644 --> 00:26:42,024 So 40K for the whole golden visa and legal fees and all of that. 426 00:26:42,024 --> 00:26:43,484 Okay, for one individual. 427 00:26:43,484 --> 00:26:47,204 So if you're a family of six, like we are, 428 00:26:47,844 --> 00:26:48,484 I would be paying... 429 00:26:49,144 --> 00:26:50,924 That will be a lot because, for example, 430 00:26:51,304 --> 00:26:52,924 I can search you. 431 00:26:53,024 --> 00:26:54,804 So the government fee, for example, 432 00:26:54,804 --> 00:27:04,444 is 13.3 so 13 300 euros per applicant go ahead regardless of six it's a lot yeah wow okay no 433 00:27:04,444 --> 00:27:10,104 that's yeah but that's you know nothing you can do it's just the rules that's yeah yeah yeah i 434 00:27:10,104 --> 00:27:18,304 mean it's it's the information that we have yeah we all have to pay the tax right uh so the 435 00:27:18,304 --> 00:27:26,644 it's interesting that this isn't just the fund for the golden visa so somebody could 436 00:27:26,644 --> 00:27:32,524 so if they're not even thinking about the the passport or the residency they could if they 437 00:27:32,524 --> 00:27:39,284 wanted to 50 000 euros into the fund that gets held for eight years the idea being after eight 438 00:27:39,284 --> 00:27:46,244 years even after fees you're more than likely or you you definitely have a chance let's put it that 439 00:27:46,244 --> 00:27:53,424 way because nothing is risk-free of course you you have the chance of getting back more bitcoin 440 00:27:53,424 --> 00:28:00,584 than you put in yes and you can do the you can do that regardless of the golden visa of course 441 00:28:00,584 --> 00:28:07,584 it's a lot more it was designed in the end for bitcoin is one of the plan b uh but it while we 442 00:28:07,584 --> 00:28:13,524 were designing and researching all of it we also saw some use cases for other people for example 443 00:28:13,524 --> 00:28:16,464 because in the end, in the maturity 444 00:28:16,464 --> 00:28:18,824 and when we pay out the SATs back again 445 00:28:18,824 --> 00:28:20,604 for example 446 00:28:20,604 --> 00:28:22,444 for non-residents, it's tax-free 447 00:28:22,444 --> 00:28:25,344 I mean the capital gains 448 00:28:25,344 --> 00:28:27,644 and the way it works is 449 00:28:27,644 --> 00:28:29,224 for example, if you say 450 00:28:29,224 --> 00:28:30,784 you invested the 500k 451 00:28:30,784 --> 00:28:34,004 and let's just, for the sake of calculations 452 00:28:34,004 --> 00:28:35,764 say that we doubled 453 00:28:35,764 --> 00:28:38,084 and now the investment is 1 million 454 00:28:38,084 --> 00:28:40,284 we will give you back 455 00:28:40,284 --> 00:28:41,244 the 500k 456 00:28:41,244 --> 00:28:45,604 and then on the capital gain, so the other 500k, 457 00:28:46,264 --> 00:28:50,244 we charge 10% because that's the fund structure. 458 00:28:50,684 --> 00:28:53,424 It's 2% management fee and 10% on the gains in the end. 459 00:28:54,104 --> 00:28:56,904 And the other 90%, you get it back tax-free. 460 00:28:59,924 --> 00:29:03,724 So this makes, of course, it depends on the jurisdiction 461 00:29:03,724 --> 00:29:05,984 where you're doing this, 462 00:29:06,304 --> 00:29:08,804 but it may make sense for a lot of people 463 00:29:08,804 --> 00:29:13,244 because I'm just going to drop this out there. 464 00:29:14,424 --> 00:29:15,624 Let's say you're American. 465 00:29:16,344 --> 00:29:17,544 And if you want to sell your Bitcoin, 466 00:29:17,824 --> 00:29:20,664 because you do have... 467 00:29:20,664 --> 00:29:24,784 Unfortunately, we cannot accept the 500k in Bitcoin directly 468 00:29:24,784 --> 00:29:26,204 because of the rules. 469 00:29:26,204 --> 00:29:29,784 We have to accept it in euros on a Portuguese bank account. 470 00:29:30,604 --> 00:29:31,524 Damn. Right. Okay. 471 00:29:31,624 --> 00:29:32,064 That's a shame. 472 00:29:32,264 --> 00:29:34,584 That's a shame because I tried otherwise, 473 00:29:34,864 --> 00:29:37,944 but it's not possible because of rules. 474 00:29:38,804 --> 00:29:45,044 so we need to accept the euros but let's say there's two options let's say you're an american 475 00:29:45,044 --> 00:29:49,604 either you have some fiat on the side you're already wealthy you have some cash that you want 476 00:29:49,604 --> 00:29:56,164 you can invest directly or you do have to sell some bitcoin but in in the in the us case you will be 477 00:29:56,164 --> 00:30:02,964 uh taxed on your capital gains if you do sell your bitcoin but i'm not sure exactly do you know how 478 00:30:02,964 --> 00:30:05,664 how much the tax is in the States 479 00:30:05,664 --> 00:30:07,204 for the capital gains on Bitcoin? 480 00:30:07,224 --> 00:30:08,104 I do not, no. 481 00:30:08,804 --> 00:30:09,544 I'm not sure, 482 00:30:09,664 --> 00:30:12,704 but I'm sure they're way bigger than zero. 483 00:30:14,084 --> 00:30:14,944 Keep talking. 484 00:30:15,124 --> 00:30:15,764 I'll find out. 485 00:30:15,844 --> 00:30:16,684 I'll ask Venice AI. 486 00:30:16,984 --> 00:30:18,064 It's bigger than zero. 487 00:30:18,584 --> 00:30:18,784 Yeah. 488 00:30:18,884 --> 00:30:20,424 So you could sell it, 489 00:30:20,504 --> 00:30:21,464 pay that tax now 490 00:30:21,464 --> 00:30:25,424 when the Bitcoin is 100K per Bitcoin. 491 00:30:26,024 --> 00:30:27,404 In eight years, 492 00:30:27,504 --> 00:30:29,244 it may be 1 million, right? 493 00:30:29,244 --> 00:30:32,404 so if it appreciates 494 00:30:32,404 --> 00:30:33,664 inside the fund 495 00:30:33,664 --> 00:30:36,224 and then when you cash out in the end 496 00:30:36,224 --> 00:30:38,224 it's not you know you won't pay taxes 497 00:30:38,224 --> 00:30:40,164 in Portugal that may 498 00:30:40,164 --> 00:30:41,984 make sense for you a lot 499 00:30:41,984 --> 00:30:44,404 but it depends on your local structure 500 00:30:44,404 --> 00:30:45,844 like I cannot this is not 501 00:30:45,844 --> 00:30:47,984 you know tax advice I don't really know 502 00:30:47,984 --> 00:30:48,864 what to do 503 00:30:48,864 --> 00:30:53,984 right 504 00:30:53,984 --> 00:30:56,224 okay oh there's a bracket 505 00:30:56,224 --> 00:30:57,984 15% 506 00:30:57,984 --> 00:31:07,244 so in the highest bracket you'd be paying 20 percent uh additionally there is a 3.8 percent 507 00:31:07,244 --> 00:31:12,884 net investment income tax and a nit what is that that applies to investment income for high 508 00:31:12,884 --> 00:31:23,804 income taxpayers this tax it wow yeah it's taxes on they do not mind do they just absolutely well 509 00:31:23,804 --> 00:31:30,544 these nation states mate these mafia run companies that are just completely 510 00:31:30,544 --> 00:31:37,404 so but well just to say that there may be there may be some use cases but the world is so big 511 00:31:37,404 --> 00:31:41,924 that we don't know how it works on their jurisdictions we don't know even after maturity 512 00:31:41,924 --> 00:31:47,404 when we pay it back if you bring it to the u.s maybe they'll tax it again uh on the u.s side 513 00:31:47,404 --> 00:31:51,784 how can you know in eight years time yeah it depends it depends a lot on the jurisdictions 514 00:31:51,784 --> 00:31:55,684 It depends on how the US law, because that will be applicable eight years from now. 515 00:31:55,804 --> 00:31:59,964 It depends on how the US law will treat Bitcoin at the time. 516 00:32:00,383 --> 00:32:05,044 There are so many variables that it's very hard to comprehend everything. 517 00:32:05,644 --> 00:32:12,544 So the flow is somebody, a Bitcoiner that is interested in this, and we use two examples, 518 00:32:12,704 --> 00:32:18,644 just wants the exposure to the fund, would have to sell out of like half a Bitcoin, let's say, 519 00:32:18,644 --> 00:32:21,584 in your local currency, whether that's euros, pounds, or dollars, 520 00:32:22,104 --> 00:32:26,424 to get that 50,000 to get that across to your fund. 521 00:32:27,064 --> 00:32:31,504 And then with that, you would use 80% of that 50,000 522 00:32:31,504 --> 00:32:34,224 to buy a Bitcoin directly through NYDIG. 523 00:32:34,883 --> 00:32:37,664 A minimum of 80%. 524 00:32:37,664 --> 00:32:40,484 And we've kept it that way because we don't know exactly 525 00:32:40,484 --> 00:32:43,444 what the opportunities that will show up at EgoDebt 526 00:32:43,444 --> 00:32:46,784 when the investors start dripping in. 527 00:32:47,124 --> 00:32:48,364 So we kept it this way. 528 00:32:48,364 --> 00:32:51,984 A minimum of 80%, so that's the lowest amount we're going to keep directly in BTC, 529 00:32:52,544 --> 00:32:55,424 and up to 20% on the EgoDebt side. 530 00:32:55,984 --> 00:33:01,424 So NYDIG buy and custody the Bitcoin? 531 00:33:02,084 --> 00:33:02,424 Yes. 532 00:33:03,024 --> 00:33:06,364 Themselves, or is there another layer of... 533 00:33:06,364 --> 00:33:07,084 No, themselves. 534 00:33:07,624 --> 00:33:08,724 Themselves, right, okay. 535 00:33:10,004 --> 00:33:10,944 And then... 536 00:33:10,944 --> 00:33:14,964 We wanted to go with the top dog, the most respected custody guy. 537 00:33:15,883 --> 00:33:17,064 Yeah, of course. 538 00:33:17,064 --> 00:33:18,883 so then you got 539 00:33:18,883 --> 00:33:21,064 the fun side of things 540 00:33:21,064 --> 00:33:23,464 and then the other example would be 541 00:33:23,464 --> 00:33:25,144 a single person 542 00:33:25,144 --> 00:33:27,064 that wanted the passport 543 00:33:27,064 --> 00:33:28,644 the plan B or a family 544 00:33:28,644 --> 00:33:31,383 they would need to get the 500,000 euros 545 00:33:31,383 --> 00:33:32,944 sent across to you, that would be fun 546 00:33:32,944 --> 00:33:35,764 Fiat Rail 547 00:33:35,764 --> 00:33:37,204 sending that amount of money 548 00:33:37,204 --> 00:33:38,204 like yeah 549 00:33:38,204 --> 00:33:40,964 so when that hits 550 00:33:40,964 --> 00:33:43,004 we already did that 551 00:33:43,004 --> 00:33:44,944 because we 552 00:33:44,944 --> 00:33:45,764 onboarded 553 00:33:45,764 --> 00:33:49,804 we've finished the first investor successfully 554 00:33:49,804 --> 00:33:51,204 and many are doing the process now. 555 00:33:52,264 --> 00:33:54,444 So far, there hasn't been any issues, 556 00:33:54,584 --> 00:33:56,364 but of course it depends on the issuer bank 557 00:33:56,364 --> 00:33:57,024 on the other side. 558 00:33:57,604 --> 00:33:59,764 Okay, so people have already... 559 00:33:59,764 --> 00:34:00,564 So walk us through, 560 00:34:00,764 --> 00:34:02,624 what kind of hurdles did you face? 561 00:34:03,064 --> 00:34:04,944 Because the first couple are always going to be 562 00:34:04,944 --> 00:34:05,824 kind of quite difficult. 563 00:34:05,883 --> 00:34:08,264 Yeah, well, I was actually... 564 00:34:08,264 --> 00:34:11,024 I wanted to see the process myself 565 00:34:11,024 --> 00:34:13,164 on the first onboarding of the investor. 566 00:34:13,844 --> 00:34:15,564 And it's not an easy process, 567 00:34:15,564 --> 00:34:20,444 as you know like because there's a lot of regulations for there's a lot of kyc involved 568 00:34:20,444 --> 00:34:26,784 there's just just no way around it they ask for all the documents all the wild side stuff and you 569 00:34:26,784 --> 00:34:31,224 know residency you know where you're living where you're doing are you scratching what vaccines do 570 00:34:31,224 --> 00:34:37,564 you take i'm just overreacting but you know it's it's a process um so it usually takes actually 571 00:34:37,564 --> 00:34:42,504 almost two months just for that process to finish uh from start to finish and of course it depends 572 00:34:42,504 --> 00:34:44,444 on the collaboration of the investor as well, 573 00:34:44,504 --> 00:34:46,584 sending all the details and all the documents, 574 00:34:46,764 --> 00:34:49,364 criminal records, all those things. 575 00:34:49,824 --> 00:34:50,664 But it's doable. 576 00:34:50,804 --> 00:34:51,824 It's just a pen in the ass. 577 00:34:53,584 --> 00:34:54,024 Right. 578 00:34:54,324 --> 00:34:54,564 Damn. 579 00:34:56,804 --> 00:34:58,064 So it's already up and running. 580 00:34:58,284 --> 00:35:00,004 So people can now apply. 581 00:35:00,004 --> 00:35:00,424 It is. 582 00:35:00,844 --> 00:35:01,044 Yeah. 583 00:35:01,584 --> 00:35:19,115 So that exciting because usually people come on and they just say oh this is what we planning and we going to go live you know Q2 of next year TM No no no no It running Q2 We already Q2 but it was launched at the end of Q1 still 584 00:35:19,916 --> 00:35:21,055 Well, well done, mate. 585 00:35:21,055 --> 00:35:26,856 So how can people then, like, get involved, get to you? 586 00:35:27,035 --> 00:35:29,635 Is it best to reach out to you directly, go through the website? 587 00:35:30,696 --> 00:35:32,675 Yeah, just you can go through the website. 588 00:35:32,675 --> 00:35:35,075 It's just a very simple, informative website. 589 00:35:35,356 --> 00:35:38,896 You can find it at basalto.fund. 590 00:35:40,555 --> 00:35:44,175 And there you'll have direct contact to us 591 00:35:44,175 --> 00:35:47,655 or even just send us an email at info at basalto.fund. 592 00:35:48,295 --> 00:35:51,896 And we'll do a first call and then start the process. 593 00:35:53,095 --> 00:35:54,175 Okay, cool. 594 00:35:54,615 --> 00:35:55,835 Have we covered the fund? 595 00:35:55,956 --> 00:35:56,735 I mean, it sounds great. 596 00:35:56,835 --> 00:35:59,235 Is there anything else you need to drill down into? 597 00:35:59,755 --> 00:36:00,475 I don't think so. 598 00:36:00,475 --> 00:36:04,675 So, you know, when creating this, all the regulations, 599 00:36:04,916 --> 00:36:09,315 all the things we had to do to bring it to the finish line was a lot 600 00:36:09,315 --> 00:36:12,335 because there's the regulatory agency, 601 00:36:12,615 --> 00:36:14,675 there's, you know, the mother fund in Lisbon 602 00:36:14,675 --> 00:36:17,175 because we're working with a company called Stag in Lisbon 603 00:36:17,175 --> 00:36:18,356 to create the... 604 00:36:18,356 --> 00:36:19,575 They are the fund managers. 605 00:36:19,735 --> 00:36:22,635 We are the ones who invest the assets in the company below, 606 00:36:22,775 --> 00:36:23,615 in the Madeira company. 607 00:36:24,615 --> 00:36:25,835 It was a process. 608 00:36:25,835 --> 00:36:30,135 But now that it's done, it's actually a very simple proposition. 609 00:36:30,475 --> 00:36:31,515 especially for Bitcoiners. 610 00:36:32,075 --> 00:36:35,675 We invest 80% in BTC and 20% in EgoDat. 611 00:36:35,775 --> 00:36:37,055 There's no more complications. 612 00:36:37,295 --> 00:36:38,595 There's no, you know, 613 00:36:39,155 --> 00:36:42,196 showing the business plan of the solar factory 614 00:36:42,196 --> 00:36:44,196 in, you know, South Alentejo, you know, 615 00:36:44,255 --> 00:36:47,135 and saying that, you know, in November it rained, 616 00:36:47,295 --> 00:36:49,495 so it wasn't that big of a production. 617 00:36:50,775 --> 00:36:53,356 So it's a very simple proposition, 618 00:36:53,815 --> 00:36:55,595 and I'm very happy that it is. 619 00:36:55,595 --> 00:36:57,135 You know, it's very straightforward. 620 00:36:57,135 --> 00:37:06,196 so come pay out would that have to be paid out in euro again no no we will give you the stats back 621 00:37:06,196 --> 00:37:13,396 directly so okay it's got to be euros on the way in but come the term eight years are up you can 622 00:37:13,396 --> 00:37:21,956 just send across a btc address and yes that's cool and the fund uh excuse me the fees for the fund 623 00:37:21,956 --> 00:37:24,275 that are paid yearly? 624 00:37:24,896 --> 00:37:26,535 They are paid yearly. 625 00:37:27,315 --> 00:37:28,535 It's 2% 626 00:37:28,535 --> 00:37:30,495 of assets under management. 627 00:37:31,196 --> 00:37:32,555 So do you just 628 00:37:32,555 --> 00:37:34,416 draw the funds down from 629 00:37:34,416 --> 00:37:35,456 the holdings you have? 630 00:37:35,835 --> 00:37:36,115 Yes. 631 00:37:36,876 --> 00:37:39,815 You don't have to contact me to send you... 632 00:37:39,815 --> 00:37:40,436 No, no, no. 633 00:37:40,795 --> 00:37:41,396 Right, I see. 634 00:37:42,876 --> 00:37:45,396 We'll just charge 2% on the average 635 00:37:45,396 --> 00:37:47,055 size of the fund 636 00:37:47,055 --> 00:37:49,055 at any given year for the 8 years. 637 00:37:49,055 --> 00:37:49,896 Mm-hmm. 638 00:37:51,956 --> 00:37:57,595 cool i like you mate well done congratulations you're running another business 639 00:37:57,595 --> 00:38:02,735 just what you wanted just as my wife wanted 640 00:38:02,735 --> 00:38:13,635 so let's talk about free madeira now because that was that was your original initiative uh in no it 641 00:38:13,635 --> 00:38:19,356 wasn't your original initiative in space was monstera books i was gonna correct you know 642 00:38:19,356 --> 00:38:24,635 you know the whole story so yeah well let's start with monstera first because we'll do it in order 643 00:38:24,635 --> 00:38:29,856 we'll go monstera free madeira and then we'll we've done the fund we're doing it back to front 644 00:38:29,856 --> 00:38:35,135 and then we'll talk about sovereign engineering i guess before monstera i was a twitter lurker 645 00:38:35,135 --> 00:38:45,896 i was just that was your first role exactly so monstera monstera so monstera as you know was 646 00:38:45,896 --> 00:38:51,335 my first project when I was you know still a anonymous bitcoiner in Madara and I wanted to 647 00:38:51,335 --> 00:38:56,075 do something in the space because I was infected you know blah blah blah blah turned it into a 648 00:38:56,075 --> 00:39:03,416 business that I didn't know anything about but I did start anyway and I started a bitcoin 649 00:39:03,416 --> 00:39:10,975 publishing company because I wanted some good literature on bitcoin for Portuguese people 650 00:39:10,975 --> 00:39:13,655 it all started with Jeff's 651 00:39:13,655 --> 00:39:13,975 book 652 00:39:13,975 --> 00:39:17,595 as you know, The Price of Tomorrow 653 00:39:17,595 --> 00:39:19,655 in Portuguese and then we did 654 00:39:19,655 --> 00:39:21,595 I think we have like 655 00:39:21,595 --> 00:39:23,936 five or six published right now 656 00:39:23,936 --> 00:39:25,615 and we 657 00:39:25,615 --> 00:39:27,155 did stop for a while 658 00:39:27,155 --> 00:39:29,695 because there was just too much happening 659 00:39:29,695 --> 00:39:31,436 in my life 660 00:39:31,436 --> 00:39:33,436 but for the last 661 00:39:33,436 --> 00:39:35,695 six to eight months we pushed 662 00:39:35,695 --> 00:39:37,735 it really hard, we're going to launch 663 00:39:37,735 --> 00:39:39,715 like quarter two of this year, it's going to be 664 00:39:39,715 --> 00:39:40,896 amazing for us because we're going to launch 665 00:39:40,896 --> 00:39:43,675 a bunch of new books 666 00:39:43,675 --> 00:39:44,715 and I mean a lot of them 667 00:39:44,715 --> 00:39:47,615 like the Sovereign Individual 668 00:39:47,615 --> 00:39:49,976 which is a great title 669 00:39:49,976 --> 00:39:51,635 it was never translated 670 00:39:51,635 --> 00:39:53,755 to Portuguese before so that will be 671 00:39:53,755 --> 00:39:55,635 the first one actually almost launching 672 00:39:55,635 --> 00:39:57,675 we have yours 673 00:39:57,675 --> 00:39:58,916 actually finally 674 00:39:58,916 --> 00:40:01,115 on the pipeline 675 00:40:01,115 --> 00:40:03,615 what is Choose Life 676 00:40:03,615 --> 00:40:05,555 in Portuguese I wouldn't even know 677 00:40:05,555 --> 00:40:06,795 Escolha Vida 678 00:40:06,795 --> 00:40:08,595 I love it already 679 00:40:08,595 --> 00:40:11,815 so we have 680 00:40:11,815 --> 00:40:14,995 both of Alex Gladstein 681 00:40:14,995 --> 00:40:16,416 book 682 00:40:16,416 --> 00:40:19,135 Check Your Financial Privilege 683 00:40:19,135 --> 00:40:20,396 and Hidden Repression 684 00:40:20,396 --> 00:40:22,555 we have 685 00:40:22,555 --> 00:40:26,255 Aaron Van Vierden book 686 00:40:26,255 --> 00:40:27,815 what's the name 687 00:40:27,815 --> 00:40:28,896 Genesis 688 00:40:28,896 --> 00:40:32,255 I have to check the list 689 00:40:32,255 --> 00:40:33,075 because there's so many 690 00:40:33,075 --> 00:40:35,515 I think it's around 12 books 691 00:40:35,515 --> 00:40:37,315 that we're going to launch very soon 692 00:40:37,315 --> 00:40:39,675 because we invested again like crazy 693 00:40:39,675 --> 00:40:43,635 and we made all the translation editions at the same time. 694 00:40:43,755 --> 00:40:47,755 So they will be launched on a very quick succession now. 695 00:40:48,755 --> 00:40:53,075 And also the big news is we finally have partners in Brazil 696 00:40:53,075 --> 00:40:54,436 and Mozambique as well. 697 00:40:55,055 --> 00:40:58,995 So we are covering basically, you know, well, not all of them, 698 00:40:58,995 --> 00:41:02,615 but the biggest Portuguese-based markets. 699 00:41:03,456 --> 00:41:04,856 Next is Angola. 700 00:41:04,856 --> 00:41:13,075 and yeah so we are you're aiming to be the best publishing house for portuguese literature on 701 00:41:13,075 --> 00:41:18,695 bitcoin and freedom you know self-sovereignty that's awesome mate so if anybody's listening 702 00:41:18,695 --> 00:41:24,155 to this and is inspired is there any way that they can help what what's what do you need 703 00:41:24,155 --> 00:41:29,876 from well buy the books if you're portuguese buy the books of course yeah if you're portuguese buy 704 00:41:29,876 --> 00:41:32,476 dozens of books and give them around 705 00:41:32,476 --> 00:41:33,655 to your community and 706 00:41:33,655 --> 00:41:36,356 leave them in coffee shops, do whatever 707 00:41:36,356 --> 00:41:38,436 it takes. Yeah, that would help 708 00:41:38,436 --> 00:41:40,315 because actually most set of books, it's a very 709 00:41:40,315 --> 00:41:42,195 hard business. Publishing a house, 710 00:41:42,295 --> 00:41:43,255 it's very, very hard. 711 00:41:44,055 --> 00:41:46,115 So far, I've just lost money on it. 712 00:41:46,175 --> 00:41:47,635 But it's a passion project 713 00:41:47,635 --> 00:41:48,555 and 714 00:41:48,555 --> 00:41:51,936 we've been pushing it very hard. 715 00:41:52,075 --> 00:41:53,835 And you know, you might think 716 00:41:53,835 --> 00:41:55,956 Rick, right? Rick works with us 717 00:41:55,956 --> 00:41:56,956 at Frima d'Ara. 718 00:41:56,956 --> 00:42:00,055 not only is a very nice guy 719 00:42:00,055 --> 00:42:01,775 he's the head of education of 720 00:42:01,775 --> 00:42:03,575 FrimaData as well, he's been doing the workshops 721 00:42:03,575 --> 00:42:05,235 and the courses and all the 722 00:42:05,235 --> 00:42:07,775 on the education part 723 00:42:07,775 --> 00:42:09,815 and he became my partner 724 00:42:09,815 --> 00:42:10,416 at Montserrat 725 00:42:10,416 --> 00:42:13,775 and he's also 726 00:42:13,775 --> 00:42:14,195 very 727 00:42:14,195 --> 00:42:17,575 we are not, let's say we're not 728 00:42:17,575 --> 00:42:19,575 thinking on the profits only on Montserrat 729 00:42:19,575 --> 00:42:21,235 of course we would love to 730 00:42:21,235 --> 00:42:22,615 make it sustainable 731 00:42:22,615 --> 00:42:25,275 but it's a passion project in the end 732 00:42:25,275 --> 00:42:28,115 and we actually changed the name. 733 00:42:28,215 --> 00:42:29,476 It's not Monstera Books anymore. 734 00:42:30,396 --> 00:42:31,995 It's called Monstera Media 735 00:42:31,995 --> 00:42:34,135 because we have a surprise coming. 736 00:42:34,775 --> 00:42:36,615 We are launching an app as well. 737 00:42:38,315 --> 00:42:40,675 And I love the idea of the app. 738 00:42:41,075 --> 00:42:42,575 I can't tell much about it, 739 00:42:42,655 --> 00:42:44,155 but we already have a test flight. 740 00:42:45,315 --> 00:42:46,795 We are testing it. 741 00:42:47,615 --> 00:42:49,376 And it's a wallet 742 00:42:49,376 --> 00:42:51,995 exclusively for spend and replace 743 00:42:51,995 --> 00:42:53,655 because it was something 744 00:42:53,655 --> 00:42:55,715 that we felt it was missing 745 00:42:55,715 --> 00:42:59,976 among all the offerings of wallets in the world 746 00:42:59,976 --> 00:43:02,315 and something that we felt was missing 747 00:43:02,315 --> 00:43:04,735 for our own community in Madara 748 00:43:04,735 --> 00:43:08,815 because there was no easy solution 749 00:43:08,815 --> 00:43:10,876 to spend the sets and just buy them back 750 00:43:10,876 --> 00:43:11,655 and replenish. 751 00:43:11,916 --> 00:43:15,715 So we created an automated process to do that 752 00:43:15,715 --> 00:43:18,255 that every time that you buy 753 00:43:18,255 --> 00:43:20,335 it replenishes your wallet again 754 00:43:20,335 --> 00:43:22,815 and it's going to be called SatsFlow. 755 00:43:23,655 --> 00:43:29,936 but i'll i'll send all the info soon we'll talk about it soon that sounds very cool mate because 756 00:43:29,936 --> 00:43:34,896 yes many people that do the spend and replace they'll go in and they'll buy their their coffees 757 00:43:34,896 --> 00:43:38,916 or their beers or their pizzas wherever they are that they can support people get their haircut 758 00:43:38,916 --> 00:43:44,015 but then they've got to go to a different app and they've got to buy back the sats if this is what 759 00:43:44,015 --> 00:43:49,876 they want to do yes so to have that all in one place and did you tell me at lunch i remember you 760 00:43:49,876 --> 00:43:57,055 dropping this um that you could even incorporate like a sliding scale and stack like a psycho like 761 00:43:57,055 --> 00:44:02,615 spend and replace like a psycho or something exactly that was you know my psycho part 762 00:44:02,615 --> 00:44:09,515 working because when we were designing the thing i then said wait wait wait wait this can be a much 763 00:44:09,515 --> 00:44:15,615 uh this can be much more i'm a psychopath i don't want to when i spend 10 euros of bitcoin i don't 764 00:44:15,615 --> 00:44:24,255 to get 10 euros back of it and i want to get 50 so so let's let's mine more fields so basically 765 00:44:24,255 --> 00:44:29,535 there's a lever on the app and you can choose that you know three times every time you spend 10 you'll 766 00:44:29,535 --> 00:44:36,495 buy 30. so in a way it's a way to spend help the community help the merchants you know spread 767 00:44:36,495 --> 00:44:43,135 spend and replace but at the same time dca and buy more bitcoin and you know if after a while 768 00:44:43,135 --> 00:44:49,615 the wallet is you full of bitcoin is as we all want uh you can choose to cold store and send in 769 00:44:49,615 --> 00:44:55,936 one transfer to your cold wallet love it mate okay so that's going to be monstera media and 770 00:44:55,936 --> 00:45:05,135 you've got the app coming out yes primid era primal era so bitcoin atlantis was very successful 771 00:45:05,135 --> 00:45:10,095 as you want to we should we should go through the acronym again because it was a stroke of genius 772 00:45:10,095 --> 00:45:12,376 What does free actually stand for? 773 00:45:12,976 --> 00:45:17,155 I have to say that it was a friend of mine that had that name in place. 774 00:45:18,055 --> 00:45:22,856 When I was setting up the association, I came up with some really bad names. 775 00:45:23,115 --> 00:45:24,035 I remember it. 776 00:45:24,195 --> 00:45:26,396 I could actually never remember it. 777 00:45:26,476 --> 00:45:30,115 It was like MFRAO. 778 00:45:30,835 --> 00:45:32,055 No, they were really bad. 779 00:45:33,015 --> 00:45:34,896 But I couldn't make up a good name. 780 00:45:35,695 --> 00:45:38,295 And then I was having a conversation with Paulo, a local guy. 781 00:45:38,295 --> 00:45:41,195 is actually the head of the economy chamber here in Madeira. 782 00:45:41,275 --> 00:45:41,715 He met him. 783 00:45:42,936 --> 00:45:46,515 He met him actually in the first trip in June at the time. 784 00:45:47,575 --> 00:45:50,495 And he was saying, because he's very libertarian as well, 785 00:45:51,175 --> 00:45:52,795 and he was saying, oh, that's cool. 786 00:45:52,896 --> 00:45:53,635 You do the association. 787 00:45:53,775 --> 00:45:55,456 You know, I wanted to do one once. 788 00:45:55,815 --> 00:45:57,575 It was all about libertarian purposes. 789 00:45:57,575 --> 00:45:59,135 It was called Free Madeira. 790 00:46:00,095 --> 00:46:04,476 For regional forum for economic education. 791 00:46:04,615 --> 00:46:06,695 I was like, perfect. 792 00:46:06,695 --> 00:46:08,835 Can I steal it from you? 793 00:46:11,896 --> 00:46:14,135 That was the whole 794 00:46:14,135 --> 00:46:16,315 he said, of course, steal it away. 795 00:46:17,535 --> 00:46:18,095 Excellent. 796 00:46:18,916 --> 00:46:20,655 It turned into 797 00:46:20,655 --> 00:46:22,775 free Madara, which is amazing. 798 00:46:23,416 --> 00:46:24,255 Of course, some people 799 00:46:24,255 --> 00:46:26,476 think we are trying to 800 00:46:26,476 --> 00:46:27,615 escape Portugal and 801 00:46:27,615 --> 00:46:30,675 become independent, 802 00:46:31,396 --> 00:46:32,715 which I wouldn't mind, 803 00:46:32,876 --> 00:46:35,035 but that's 804 00:46:35,035 --> 00:46:41,055 not the purpose so it's called the forum you know but i think it's on economic which literally 805 00:46:41,055 --> 00:46:46,995 translates to regional forum for economic education economic education which is what 806 00:46:46,995 --> 00:46:52,396 we're all here for so the um the formation of that stems back 807 00:46:52,447 --> 00:46:54,947 back to June. 808 00:46:55,247 --> 00:47:00,227 Well, no, April 2022, when we were in Miami. 809 00:47:00,447 --> 00:47:01,567 The trip was in June, 810 00:47:01,627 --> 00:47:04,947 and then we officially launched it in October. 811 00:47:05,687 --> 00:47:05,867 Right. 812 00:47:06,807 --> 00:47:09,547 But I think it was October next year, right, in Amsterdam? 813 00:47:09,547 --> 00:47:11,767 I don't know. 814 00:47:12,067 --> 00:47:14,107 Time is very confusing now. 815 00:47:14,287 --> 00:47:14,967 Bitcoin time. 816 00:47:15,807 --> 00:47:17,767 I think it was only next year 817 00:47:17,767 --> 00:47:20,547 because there was all the legal part of the association, 818 00:47:20,867 --> 00:47:22,027 and it took a while. 819 00:47:22,447 --> 00:47:31,247 And the idea being you wanted to set up a place where you could concentrate on getting economic education out to the people of Madeira. 820 00:47:31,247 --> 00:47:35,007 And well, with, you know, the idea of Monstera is Portuguese speaking world. 821 00:47:35,807 --> 00:47:39,147 But yeah, that was an incredible thing to watch. 822 00:47:39,607 --> 00:47:42,867 And then you snuck in Bitcoin Atlantis. 823 00:47:43,807 --> 00:47:49,067 Yeah. So, well, you were part of the advisory board. 824 00:47:49,067 --> 00:47:52,567 So, you know, we started having some meetings, some ideas for the association. 825 00:47:53,407 --> 00:47:54,927 I wanted to touch education. 826 00:47:55,127 --> 00:47:58,047 I wanted to touch business, you know, accommodate businesses. 827 00:47:58,047 --> 00:48:04,427 I wanted to relocate to Madera, for example, and help them with all the tax parts and accommodations and co-working. 828 00:48:04,807 --> 00:48:09,747 And, of course, education, energy, which is still in the conversation. 829 00:48:10,007 --> 00:48:15,827 And we did a small summit in Lisbon just about energy that we can speak a little bit about. 830 00:48:16,727 --> 00:48:18,807 So, you know, Bitcoin touches everything, right? 831 00:48:18,807 --> 00:48:20,447 So there's a lot to do. 832 00:48:21,527 --> 00:48:35,247 But then I had the idea and I asked you guys on one of the advisory meetings that we were having, you know, if we could do a conference just, you know, to kickstart things, right? 833 00:48:35,327 --> 00:48:37,867 And to get Trimadera out there. 834 00:48:38,927 --> 00:48:42,187 In the beginning, I thought it was only the advisory board, something small. 835 00:48:42,187 --> 00:48:50,547 But then as usual, it got way out of hand and it became this massive conference. 836 00:48:52,847 --> 00:48:58,207 You know, especially Jeff was really, you know, starting getting guys like Jack Dorsey on board. 837 00:48:58,427 --> 00:49:00,747 And then we got Michael Saylor and then Jack Mahlers. 838 00:49:00,887 --> 00:49:07,507 And then it was like a cascade of speakers, over 200 speakers that came in the end to Madara. 839 00:49:07,507 --> 00:49:09,447 so it was this massive 840 00:49:09,447 --> 00:49:10,907 and 841 00:49:10,907 --> 00:49:12,687 fucking great conference 842 00:49:12,687 --> 00:49:14,547 sorry for the English 843 00:49:14,547 --> 00:49:15,827 it was so successful 844 00:49:15,827 --> 00:49:17,727 everybody had a great time 845 00:49:17,727 --> 00:49:19,627 there was a lot of side events 846 00:49:19,627 --> 00:49:21,967 the music festival, the dinners, the parties 847 00:49:21,967 --> 00:49:24,027 there was a lot of 848 00:49:24,027 --> 00:49:25,947 businesses also on the side 849 00:49:25,947 --> 00:49:27,267 and meetings and podcasts 850 00:49:27,267 --> 00:49:29,787 and there were so many things happening 851 00:49:29,787 --> 00:49:31,887 in Madera during that conference 852 00:49:31,887 --> 00:49:33,927 and it was the perfect 853 00:49:33,927 --> 00:49:35,727 start to Free Madera 854 00:49:35,727 --> 00:49:43,267 honestly it was amazing mate that that conference was everybody's favorite who went and very special 855 00:49:43,267 --> 00:49:52,187 memories a lot of tears a lot of emotion a lot of love a lot of uh emotional release uh so great to 856 00:49:52,187 --> 00:49:57,047 see so many families there as well that was and the fact that it was all outside in the football 857 00:49:57,047 --> 00:50:03,367 stadium you know bathed in natural light one of the best yeah the venue was amazing we were lucky 858 00:50:03,367 --> 00:50:04,507 also with the weather. 859 00:50:05,107 --> 00:50:06,727 Even the Bitcoin price was ripping. 860 00:50:08,627 --> 00:50:12,167 So the kids' idea was amazing. 861 00:50:12,287 --> 00:50:12,727 The family, 862 00:50:13,007 --> 00:50:14,047 embracing the families 863 00:50:14,047 --> 00:50:14,987 in the conference. 864 00:50:15,667 --> 00:50:17,867 It made the vibe very positive, 865 00:50:18,107 --> 00:50:19,267 very energetic. 866 00:50:20,427 --> 00:50:23,127 Man, you know, 867 00:50:23,247 --> 00:50:26,807 I was so happy. 868 00:50:27,227 --> 00:50:28,487 I couldn't believe 869 00:50:28,487 --> 00:50:31,007 that I was able to bring 870 00:50:31,007 --> 00:50:32,367 all those people to Madara 871 00:50:32,367 --> 00:50:34,687 and make such a magical week. 872 00:50:34,967 --> 00:50:36,067 It was amazing. 873 00:50:36,447 --> 00:50:38,987 I have no idea if Madeira has concerts. 874 00:50:39,107 --> 00:50:40,327 Obviously, they have football games, 875 00:50:40,507 --> 00:50:43,807 but did you get any feedback on how big the event was 876 00:50:43,807 --> 00:50:45,707 compared to anything else that's happened? 877 00:50:45,987 --> 00:50:49,187 Look, it was by far, and I mean by far, 878 00:50:49,187 --> 00:50:51,547 the biggest conference in Madera ever. 879 00:50:52,327 --> 00:50:52,607 Wow. 880 00:50:53,487 --> 00:50:54,927 Actually, we did it in the stadium 881 00:50:54,927 --> 00:50:56,747 because there was no other place to do it. 882 00:50:57,007 --> 00:51:00,367 There's no conference space of that size. 883 00:51:00,367 --> 00:51:04,027 I think the biggest one before was like 1,000 people 884 00:51:04,027 --> 00:51:05,407 and it was already like crazy. 885 00:51:06,247 --> 00:51:08,167 We had 3,000 in the stadium. 886 00:51:10,247 --> 00:51:13,167 And we did a small, actually, we should publish that more. 887 00:51:13,647 --> 00:51:16,767 We did a study on the economical impact in Madera 888 00:51:16,767 --> 00:51:19,367 and it's all, I think, 7 million in the end 889 00:51:19,367 --> 00:51:22,287 of direct economical impact. 890 00:51:22,547 --> 00:51:23,787 And that's the direct part. 891 00:51:25,087 --> 00:51:28,567 So yeah, it was great, not only for us, 892 00:51:28,567 --> 00:51:30,047 but for Madera as well, overall. 893 00:51:30,047 --> 00:51:50,567 That's crazy. And so at that point, and Free Madeira, one of the big plus points of Free Madeira is that you've got Charlie going around doing his thing, trying to get as many, he's such a hustler, trying to get as many merchants to accept Bitcoin as he possibly can. 894 00:51:50,747 --> 00:51:56,307 So let's talk about those metrics. Where was that before the conference started? And where is that today? 895 00:51:56,307 --> 00:52:03,407 so before the conference started there was almost almost anything uh and actually that was a decision 896 00:52:03,407 --> 00:52:10,447 as well because well we were just starting uh first of all and i didn't want to create the 897 00:52:10,447 --> 00:52:17,007 demand without having well the supply without having the demand as well uh because i think it 898 00:52:17,007 --> 00:52:21,727 didn't make sense to have a lot of merchants while not having you know the community there yet and 899 00:52:21,727 --> 00:52:27,807 the payments but then we started gradually increasing especially after the conference of 900 00:52:27,807 --> 00:52:32,287 course and the impact of the conference and charlie's doing a great work is managing the 901 00:52:32,287 --> 00:52:36,507 merchants but also the store the store has been great as well we have a store online where we 902 00:52:36,507 --> 00:52:42,387 sell a lot of gear and hardware stuff and you know all bitcoin stuff of course besides the 903 00:52:42,387 --> 00:52:48,827 books that we're doing in portuguese and now i think it's i don't even know it's like 160 merchants 904 00:52:48,827 --> 00:52:55,587 now um and you can basically live on a bitcoin standard now on a set standard now because you 905 00:52:55,587 --> 00:53:02,247 have supermarkets you have you have everything um we have people in madera that don't touch euros 906 00:53:02,247 --> 00:53:08,767 that's crazy yeah and it attracted the that's the thing as well about the the conference like 907 00:53:08,767 --> 00:53:14,487 the economic impact but it also attracted people to move there i i know a handful of people moved 908 00:53:14,487 --> 00:53:19,527 there or still even thinking about it now and they're still they're still coming they're still 909 00:53:19,527 --> 00:53:28,287 dripping uh we have you know very frequent contacts of people who moved people who are moving soon or 910 00:53:28,287 --> 00:53:33,607 people who are just verifying still they still come oh i'm gonna be reaching out i'm coming there 911 00:53:33,607 --> 00:53:37,367 for a couple of weeks i want to talk to you guys i want to check out the place to see if it's good 912 00:53:37,367 --> 00:53:44,447 for me you know so it's still happening and hopefully it keeps happening yeah i'm pretty 913 00:53:44,447 --> 00:53:49,447 sure it will mate especially now you've uh talked about this fund at the beginning i think you're 914 00:53:49,447 --> 00:53:53,847 going to get a lot of people yeah and sorry to interrupt and people those people bring projects 915 00:53:53,847 --> 00:53:59,487 as well which is one of the goals in the beginning like uh as you know we started sovereign engineering 916 00:53:59,487 --> 00:54:05,447 um as well in madera with a bunch of bitcoiners sovereign engineering is going to start its fifth 917 00:54:05,447 --> 00:54:13,507 cohort now in the end of September. It's been very successful. Gigi is living here in Madera 918 00:54:13,507 --> 00:54:18,507 and Handels is the captain of the thing. But there's also Pablo Fernandez and Martijn and 919 00:54:18,507 --> 00:54:26,087 myself involved. We've been getting a lot of Bitcoiners, Nostra developers, FreedomTech 920 00:54:26,087 --> 00:54:31,947 developers here in Madera for the cohorts. A lot of them are basically based in Madera now. 921 00:54:31,947 --> 00:54:42,895 But we had great guys like Justin Moon and Kali and many others we having I think 922 00:54:42,895 --> 00:54:44,635 30 again in September and October 923 00:54:44,635 --> 00:54:47,035 for two whole months for the cohorts 924 00:54:47,035 --> 00:54:49,295 let's not brush over 925 00:54:49,295 --> 00:54:50,875 that because people might not have heard of that 926 00:54:50,875 --> 00:54:53,115 the SEC it's not the SEC 927 00:54:53,115 --> 00:54:54,915 as you think it is it's the Sovereign 928 00:54:54,915 --> 00:54:56,575 Engineering Cohort 929 00:54:56,575 --> 00:54:59,095 which is run by Gigi 930 00:54:59,095 --> 00:55:01,075 and Pablo and has 931 00:55:01,075 --> 00:55:07,575 been for the last four or five times uh that they've done this and it is for people that want 932 00:55:07,575 --> 00:55:18,415 to uh level up or start a project or learn how to code or how to you know add value into the 933 00:55:18,415 --> 00:55:23,455 bitcoin space or the monster space whatever it is maybe they've got an idea yes and uh they apply 934 00:55:23,455 --> 00:55:29,535 right you have to go through an application process and if you're accepted uh you're going 935 00:55:29,535 --> 00:55:35,895 to be living on Madeira for two months like it is it is go time it's free you don't pay anything 936 00:55:35,895 --> 00:55:39,695 of course you have to pay your own expenses like flights and accommodations and so on 937 00:55:39,695 --> 00:55:45,535 we now have a lot of captains that take over during the weeks people are already here for 938 00:55:45,535 --> 00:55:52,415 two three times because they love it and yeah it's it's it's basically a meeting of minds to 939 00:55:52,415 --> 00:55:59,455 build on the right direction you know I'm not as I'm not as fluent in words the way Gigi is 940 00:55:59,455 --> 00:56:02,015 I would advise people to read 941 00:56:02,015 --> 00:56:04,175 what he posts on Nostra 942 00:56:04,175 --> 00:56:06,135 but also we're launching 943 00:56:06,135 --> 00:56:07,915 a new website very soon 944 00:56:07,915 --> 00:56:10,435 actually at sovereignengineering.io 945 00:56:10,435 --> 00:56:12,315 you will still find the old 946 00:56:12,315 --> 00:56:14,335 one but the new one is amazing 947 00:56:14,335 --> 00:56:16,315 and it's going to launch very soon 948 00:56:16,315 --> 00:56:18,195 I would say I don't know I don't want to make promises 949 00:56:18,195 --> 00:56:19,895 I don't know when this is going to air 950 00:56:19,895 --> 00:56:22,395 but I would say one week two weeks from now 951 00:56:22,395 --> 00:56:23,975 it should be up and running 952 00:56:23,975 --> 00:56:26,335 and there there's the whole 953 00:56:26,335 --> 00:56:28,335 philosophy of sovereign engineering 954 00:56:28,335 --> 00:56:31,995 written by Gigi with his magical words. 955 00:56:32,355 --> 00:56:35,255 And, you know, it's much better than me explaining it to you guys. 956 00:56:35,895 --> 00:56:37,035 Yeah, for sure. 957 00:56:37,315 --> 00:56:40,335 And that all goes down still at the co-working place 958 00:56:40,335 --> 00:56:41,915 or did they change the location? 959 00:56:43,115 --> 00:56:44,755 Yes, although we are trying, 960 00:56:44,855 --> 00:56:47,635 I'm still trying to get the hub up and running, as you know. 961 00:56:47,915 --> 00:56:50,915 One of the big goals of Frimadara is to do the hub, 962 00:56:51,355 --> 00:56:52,955 a physical hub for the community 963 00:56:52,955 --> 00:56:56,175 where we want to headquarter Frimadara, 964 00:56:56,175 --> 00:57:02,675 the store and the education rooms but also we want to have a space for the company so a co-working 965 00:57:02,675 --> 00:57:08,715 space you know i manage a co-working space already but i want to make one specific for this community 966 00:57:08,715 --> 00:57:15,055 because we already have a lot of people the community is growing we have a lot of projects 967 00:57:15,055 --> 00:57:22,935 i want to base software engineering there as well and also you know also other projects that come 968 00:57:22,935 --> 00:57:29,075 and i know uh chief monkey he was one of the guys that went along to the sovereign engineering and he 969 00:57:29,075 --> 00:57:34,875 started uh plebeian market which people that they hear me talk about plebeian mark plebeian dot 970 00:57:34,875 --> 00:57:40,595 market uh before or after the show because that was his way he wanted to to build he wanted to 971 00:57:40,595 --> 00:57:49,795 create something for people that uh are designing things in in bitcoin for sale in bitcoin for 972 00:57:49,795 --> 00:57:54,115 people who want to support them and spend bitcoin whether it's spend or replace or if you're just 973 00:57:54,115 --> 00:58:01,235 fully now on a bitcoin standard uh you know build out the parallel economy so it's not it's not for 974 00:58:02,115 --> 00:58:10,435 just full-on coding geeky dev type people is for absolutely anyone and i think that's really worth 975 00:58:10,435 --> 00:58:18,275 well you have you have to be a dev uh to be part of it basically uh or at least a designer a good 976 00:58:18,275 --> 00:58:20,275 design it especially because they also need 977 00:58:20,275 --> 00:58:22,275 the back end and front end 978 00:58:22,275 --> 00:58:24,235 UX for most things 979 00:58:24,235 --> 00:58:26,295 that they're building but in the end the goal 980 00:58:26,295 --> 00:58:28,255 is to have actionable 981 00:58:28,255 --> 00:58:29,115 businesses 982 00:58:29,115 --> 00:58:32,335 coming out of it of course mostly based 983 00:58:32,335 --> 00:58:34,155 on the protocols on Nostra 984 00:58:34,155 --> 00:58:35,735 and FreedomTex and so on 985 00:58:35,735 --> 00:58:38,355 but I was actually searching 986 00:58:38,355 --> 00:58:39,575 here for the 987 00:58:39,575 --> 00:58:42,535 for the amount 988 00:58:42,535 --> 00:58:44,555 of stuff that already came out of it 989 00:58:44,555 --> 00:58:45,755 which is crazy 990 00:58:45,755 --> 00:58:47,235 I was 991 00:58:47,235 --> 00:58:49,495 shit I can't find it now 992 00:58:49,495 --> 00:58:51,395 but already a lot of 993 00:58:51,395 --> 00:58:53,615 projects real life projects 994 00:58:53,615 --> 00:58:55,515 came out of 995 00:58:55,515 --> 00:58:57,555 the conversations of the mixing 996 00:58:57,555 --> 00:58:59,535 of minds and the ideas that come 997 00:58:59,535 --> 00:59:01,515 into fruition and now with AI 998 00:59:01,515 --> 00:59:03,735 and vibe coding they get stuff 999 00:59:03,735 --> 00:59:04,895 out like mushrooms 1000 00:59:04,895 --> 00:59:07,675 it's crazy to see from 1001 00:59:07,675 --> 00:59:08,655 the side I'm not a developer 1002 00:59:08,655 --> 00:59:11,595 it's amazing to see the 1003 00:59:11,595 --> 00:59:13,615 amount of stuff these guys can create in such 1004 00:59:13,615 --> 00:59:14,415 a short span 1005 00:59:14,415 --> 00:59:18,935 And well, it's crazy, crazy project, crazy good project. 1006 00:59:19,655 --> 00:59:20,175 Awesome. 1007 00:59:20,515 --> 00:59:20,815 All right. 1008 00:59:20,855 --> 00:59:24,815 So if anybody's listening, go to sovereignengineering.io and look into that. 1009 00:59:25,335 --> 00:59:29,095 And the last thing I think we need to talk about is you mentioned it briefly. 1010 00:59:29,095 --> 00:59:34,755 You had the small energy focused conference, which you threw in Lisbon. 1011 00:59:34,975 --> 00:59:39,195 So instead of you doing another great big conference every year, you've decided to do 1012 00:59:39,195 --> 00:59:40,775 Free Madeira once every four years. 1013 00:59:40,875 --> 00:59:43,315 I think that's a brilliant plan, by the way. 1014 00:59:43,675 --> 00:59:44,055 Thank you. 1015 00:59:44,055 --> 00:59:46,635 So next time would be what, March, 2028? 1016 00:59:46,795 --> 00:59:47,955 Is that kind of when you're thinking? 1017 00:59:48,615 --> 00:59:51,735 Well, we don't know if March exactly, but yeah, 2028. 1018 00:59:51,815 --> 00:59:53,175 Right, but around like, so 2028. 1019 00:59:53,175 --> 00:59:58,095 But block out your diaries for the first half of 2028, 1020 00:59:58,195 --> 01:00:00,515 because Bitcoin Atlantis will be at some point 1021 01:00:00,515 --> 01:00:02,115 during those first six months. 1022 01:00:02,695 --> 01:00:04,575 But then you had the idea of, again, 1023 01:00:04,635 --> 01:00:06,615 on the economic educational side of things, 1024 01:00:06,715 --> 01:00:08,175 which is what Free Madeira is all about, 1025 01:00:08,575 --> 01:00:13,515 throwing small, very focused, specific conferences. 1026 01:00:13,515 --> 01:00:15,455 and you started with the energy one. 1027 01:00:15,535 --> 01:00:17,735 So just talk us through what you did there. 1028 01:00:18,255 --> 01:00:25,655 Yeah, because I think there's, well, there's also in Bitcoin altogether, 1029 01:00:25,655 --> 01:00:30,095 but there's a big, big misunderstanding of how Bitcoin mining 1030 01:00:30,095 --> 01:00:32,675 can help the energy grids in Portugal and in Madara, 1031 01:00:32,835 --> 01:00:35,515 which is where I'm more interested, right? 1032 01:00:36,295 --> 01:00:38,675 And it's been hard to pass the message. 1033 01:00:38,675 --> 01:00:40,675 so I had the idea 1034 01:00:40,675 --> 01:00:42,155 and it was part of the 1035 01:00:42,155 --> 01:00:44,095 the motto of FreeModelle as well 1036 01:00:44,095 --> 01:00:45,255 because as you said 1037 01:00:45,255 --> 01:00:48,015 I had the idea of doing the big conference every four years 1038 01:00:48,015 --> 01:00:48,895 keep it very special 1039 01:00:48,895 --> 01:00:51,775 keep it like a big festivity for Bitcoiners 1040 01:00:51,775 --> 01:00:53,315 to come over and enjoy 1041 01:00:53,315 --> 01:00:57,215 but part of that reasoning 1042 01:00:57,215 --> 01:00:59,855 was to get the other ears free 1043 01:00:59,855 --> 01:01:01,235 to build other stuff 1044 01:01:01,235 --> 01:01:02,355 and to work on other stuff 1045 01:01:02,355 --> 01:01:03,015 and education 1046 01:01:03,015 --> 01:01:06,395 and these small summits can be very very important 1047 01:01:06,395 --> 01:01:09,855 so the first one was free energy summit 1048 01:01:09,855 --> 01:01:11,575 and we decided to do it in Lisbon 1049 01:01:11,575 --> 01:01:13,815 so we can get easily more people 1050 01:01:13,815 --> 01:01:15,275 involved in the energy space there 1051 01:01:15,275 --> 01:01:17,495 so we did it 1052 01:01:17,495 --> 01:01:18,075 and we brought 1053 01:01:18,075 --> 01:01:20,355 Daniel Batten 1054 01:01:20,355 --> 01:01:23,935 Eric Erzman 1055 01:01:23,935 --> 01:01:24,975 from Gridless 1056 01:01:24,975 --> 01:01:27,595 and Daniel Closer that works with him at Gridless 1057 01:01:27,595 --> 01:01:28,315 he also came 1058 01:01:28,315 --> 01:01:30,215 we brought Max Guy 1059 01:01:30,215 --> 01:01:33,335 we brought Rachel Geyer from TerraHash 1060 01:01:33,335 --> 01:01:35,095 we brought Max 1061 01:01:35,095 --> 01:01:35,735 and 1062 01:01:35,735 --> 01:01:37,315 Obi? 1063 01:01:38,575 --> 01:01:39,935 Erold from 1064 01:01:39,935 --> 01:01:43,035 the 1065 01:01:43,035 --> 01:01:44,755 energy guys from 1066 01:01:44,755 --> 01:01:45,735 Austria. 1067 01:01:46,955 --> 01:01:48,155 Oh, I'm sorry. 1068 01:01:48,515 --> 01:01:50,595 My mind is full of information. 1069 01:01:52,115 --> 01:01:53,155 And it was 1070 01:01:53,155 --> 01:01:55,135 amazing because we did get a lot 1071 01:01:55,135 --> 01:01:56,715 of energy guys involved 1072 01:01:56,715 --> 01:01:58,355 and finally 1073 01:01:58,355 --> 01:02:01,195 the door 1074 01:02:01,195 --> 01:02:03,275 opened on some of the private 1075 01:02:03,275 --> 01:02:06,675 energy producers in Azores and Madara. 1076 01:02:06,675 --> 01:02:09,615 So we're now having deeper conversations with them 1077 01:02:09,615 --> 01:02:11,015 and we're going to start some test pilots 1078 01:02:11,015 --> 01:02:11,815 on their operations, 1079 01:02:11,815 --> 01:02:14,555 which was exactly what we wanted to achieve. 1080 01:02:14,555 --> 01:02:15,755 So it was very successful. 1081 01:02:15,755 --> 01:02:28,563 Wow So they actually sat up and listened at this time Yes Yes not the public entities unfortunately not yet But the private guys they have different incentives and they listened 1082 01:02:29,683 --> 01:02:30,083 Interesting. 1083 01:02:30,203 --> 01:02:32,883 And what kind of test pilots do you think is going to get rolled out? 1084 01:02:32,963 --> 01:02:35,223 Are you going to be looking at solar or wind or tidal? 1085 01:02:35,363 --> 01:02:38,563 So these are guys, yeah, these are guys that have solar and wind operations. 1086 01:02:39,303 --> 01:02:42,363 And they curtail, you know, the drill, the usual drill, 1087 01:02:42,543 --> 01:02:44,143 because there's too much production. 1088 01:02:44,323 --> 01:02:45,023 They have to curtail. 1089 01:02:45,023 --> 01:02:50,883 on the other side there's the government doing this massive million tens of million dollar 1090 01:02:50,883 --> 01:03:00,423 investments in batteries that are ineffective and very costs you know it's crazy so now we are doing 1091 01:03:00,423 --> 01:03:07,123 some test pilots with miners on the on the on the operations themselves before connecting to the grid 1092 01:03:07,123 --> 01:03:14,323 so they can you know not only do not cut the operations increase their funding for expansion 1093 01:03:14,323 --> 01:03:19,423 or for other projects that they might interest them and not curtail. 1094 01:03:19,763 --> 01:03:25,703 So basically, it's a consumer of last resort for these operations in Madara and Azores. 1095 01:03:26,143 --> 01:03:28,543 So for those people wondering what curtail means, 1096 01:03:28,623 --> 01:03:32,583 it means that it's when they switch off the wind tire line, for example, 1097 01:03:32,783 --> 01:03:34,763 because they produce too much energy. 1098 01:03:34,883 --> 01:03:35,843 It can't be stored anywhere. 1099 01:03:36,283 --> 01:03:38,923 Even if the wind's blowing, they just have to turn the damn thing off. 1100 01:03:39,343 --> 01:03:41,343 It's just so ridiculous. 1101 01:03:41,343 --> 01:03:47,943 so actually you know funny enough last month i don't know if you saw it in the news probably not 1102 01:03:47,943 --> 01:03:53,123 but there was a blackout in europe i know it started in spain and it came to portugal and 1103 01:03:53,123 --> 01:04:01,143 there was a whole day and we all know of course people who know um are very much aware that this 1104 01:04:01,143 --> 01:04:06,303 was because of the spikes of of renewables in spain and because all the grids are interconnected 1105 01:04:06,303 --> 01:04:08,283 it basically created havoc 1106 01:04:08,283 --> 01:04:10,783 some gear malfunctioned 1107 01:04:10,783 --> 01:04:11,663 and you know 1108 01:04:11,663 --> 01:04:13,663 ended up in a huge blackout 1109 01:04:13,663 --> 01:04:14,763 in Portugal 1110 01:04:14,763 --> 01:04:16,723 the majority of Portugal 1111 01:04:16,723 --> 01:04:17,403 was in the dark 1112 01:04:17,403 --> 01:04:19,703 for several hours 1113 01:04:19,703 --> 01:04:22,663 and it was enough 1114 01:04:22,663 --> 01:04:24,003 you know how people work 1115 01:04:24,003 --> 01:04:25,403 it was enough 1116 01:04:25,403 --> 01:04:27,543 for you know 1117 01:04:27,543 --> 01:04:29,723 toilet paper already being run out 1118 01:04:29,723 --> 01:04:30,563 in supermarkets 1119 01:04:30,563 --> 01:04:31,543 and water 1120 01:04:31,543 --> 01:04:32,283 and you know 1121 01:04:32,283 --> 01:04:34,123 and this was just a few hours 1122 01:04:34,123 --> 01:04:34,503 right 1123 01:04:34,503 --> 01:04:42,323 and again bitcoin fixes this absolutely so it was crazy to be in madonna just saying 1124 01:04:42,323 --> 01:04:51,403 jesus christ this is very fixable very fixable you know have they are these little projects 1125 01:04:51,403 --> 01:04:55,463 these test pilots are they live yet or are they still getting no no no we're still doing the 1126 01:04:55,463 --> 01:05:00,943 calculations it's gonna take a bit that's the problem with these projects they always take 1127 01:05:00,943 --> 01:05:04,603 There's so much administration and red tape and whatever else. 1128 01:05:04,703 --> 01:05:06,543 And obviously, you've got to get the hardware in place, 1129 01:05:06,563 --> 01:05:07,763 and that's got to get shipped over. 1130 01:05:07,863 --> 01:05:11,043 It's not like, okay, let's plug in some S9s and away we go. 1131 01:05:12,103 --> 01:05:13,663 But hopefully, it ramps up. 1132 01:05:14,023 --> 01:05:17,543 Because if you do a test pilot and it's successful and they're happy, 1133 01:05:17,683 --> 01:05:18,823 they're going to spread the word. 1134 01:05:19,543 --> 01:05:23,043 In the world of energy producers, I understood that. 1135 01:05:23,043 --> 01:05:24,643 It's a very small world as well. 1136 01:05:24,723 --> 01:05:25,983 They all know each other. 1137 01:05:25,983 --> 01:05:31,063 So hopefully it ramps up fast after the first test. 1138 01:05:32,063 --> 01:05:32,763 Well, well done. 1139 01:05:32,863 --> 01:05:34,903 What's the next small conference then? 1140 01:05:34,983 --> 01:05:37,143 You've got your eyes set on. 1141 01:05:37,143 --> 01:05:42,083 Well, we don't have any other thing planned for now in terms of summits. 1142 01:05:42,243 --> 01:05:45,323 We do want to repeat the free energy summit in Lisbon next year. 1143 01:05:45,463 --> 01:05:51,063 We're going to make it a yearly thing because it's very hard, the first one always. 1144 01:05:51,783 --> 01:05:54,083 And although it was successful, I think we can do a lot more. 1145 01:05:54,083 --> 01:05:56,263 well you'll have data as well to show 1146 01:05:56,263 --> 01:05:58,463 exactly especially if we already have 1147 01:05:58,463 --> 01:06:00,243 stuff in place to show off 1148 01:06:00,243 --> 01:06:02,443 so we want to do a second one 1149 01:06:02,443 --> 01:06:02,923 next year 1150 01:06:02,923 --> 01:06:05,843 that's already in the plans but 1151 01:06:05,843 --> 01:06:08,363 as far as other summits 1152 01:06:08,363 --> 01:06:10,303 go well for now 1153 01:06:10,303 --> 01:06:11,603 we're doing the monthly meetups 1154 01:06:11,603 --> 01:06:14,183 monthly meetups are still a thing so 1155 01:06:14,183 --> 01:06:15,363 if you're on holiday in Madeira 1156 01:06:15,363 --> 01:06:18,143 if you're on holiday in Madeira just go find the monthly 1157 01:06:18,143 --> 01:06:19,903 meetup freemadeira.com 1158 01:06:19,903 --> 01:06:21,483 and the Bitcoin walks every 1159 01:06:21,483 --> 01:06:23,703 Saturday that's right 1160 01:06:23,703 --> 01:06:26,763 Jacob lives here now. 1161 01:06:26,903 --> 01:06:27,183 I know. 1162 01:06:27,403 --> 01:06:33,083 He moved after the Free Madeira conference. 1163 01:06:33,263 --> 01:06:34,223 He's like, right, that's it. 1164 01:06:34,383 --> 01:06:34,763 We're moving. 1165 01:06:34,943 --> 01:06:35,783 I'm telling my wife. 1166 01:06:36,023 --> 01:06:36,443 End of story. 1167 01:06:39,143 --> 01:06:43,943 It's a perfect place for him because Bitcoin walk and Madera is known. 1168 01:06:43,943 --> 01:06:48,383 It's worldwide reputable for the walks, for the trails. 1169 01:06:49,343 --> 01:06:50,323 So it's perfect. 1170 01:06:51,203 --> 01:06:53,603 I think we've covered absolutely everything, mate. 1171 01:06:53,603 --> 01:06:54,723 except the final question. 1172 01:06:55,363 --> 01:06:57,603 And I know you know what that is, 1173 01:06:57,983 --> 01:06:59,643 but if you had one last orange pill 1174 01:06:59,643 --> 01:07:00,883 left to give to somebody... 1175 01:07:00,883 --> 01:07:02,083 Now I do. 1176 01:07:03,183 --> 01:07:04,663 Who would you give it to and why? 1177 01:07:07,723 --> 01:07:13,523 Man, I'm going to repeat the same answer, actually. 1178 01:07:14,563 --> 01:07:15,763 Because as a Madeiran, 1179 01:07:17,143 --> 01:07:21,083 Cristiano Ronaldo is the voice of Madera. 1180 01:07:21,083 --> 01:07:24,563 and unfortunately he's a shit coiner still 1181 01:07:24,563 --> 01:07:27,203 he's a payout of Binance 1182 01:07:27,203 --> 01:07:30,143 he does the Cristiano Ronaldo NFTs and so on 1183 01:07:30,143 --> 01:07:32,243 but I do believe 1184 01:07:32,243 --> 01:07:33,303 I still do believe 1185 01:07:33,303 --> 01:07:35,863 because he's the major example 1186 01:07:35,863 --> 01:07:38,423 in my view 1187 01:07:38,423 --> 01:07:39,903 of proof of work 1188 01:07:39,903 --> 01:07:43,843 he made himself the best footballer in the world 1189 01:07:43,843 --> 01:07:46,763 because he works like crazy 1190 01:07:46,763 --> 01:07:48,823 he still does 1191 01:07:48,823 --> 01:07:51,063 some people don't like him because of stuff 1192 01:07:51,063 --> 01:07:54,743 but he shows, he has results to show for himself. 1193 01:07:55,243 --> 01:07:58,823 He started as a very, in a very, very poor family 1194 01:07:58,823 --> 01:08:01,023 in a district here in Fushal, you know, 1195 01:08:01,463 --> 01:08:06,683 with a very hard family, very hard story, 1196 01:08:07,383 --> 01:08:11,263 but true proof of work and being the first one in practice 1197 01:08:11,263 --> 01:08:13,923 and the last one living and always taking care of his body 1198 01:08:13,923 --> 01:08:16,463 and always a body and always wanted to be better. 1199 01:08:18,143 --> 01:08:20,723 You know, he can have some flaws now of, you know, 1200 01:08:20,723 --> 01:08:27,103 buying 300 you know audis whatever like not audis lamborghinis and whatever cars he may have 1201 01:08:27,103 --> 01:08:34,763 but i think he's entitled to he made himself like he's he's he's he's the the truest example of 1202 01:08:34,763 --> 01:08:40,563 proof of work unfortunately i think it's too busy of a life to truly understand bitcoin 1203 01:08:40,563 --> 01:08:47,083 uh also he doesn't need it right um and that was just another sponsorship in his life uh someone 1204 01:08:47,083 --> 01:08:49,763 that paid them money to do some sponsorship, whatever. 1205 01:08:50,903 --> 01:08:53,783 So I think if he flipped and he truly understood Bitcoin, 1206 01:08:54,443 --> 01:08:56,263 being from Madera, being Portuguese, 1207 01:08:56,943 --> 01:08:58,563 he could, you know, 1208 01:08:58,563 --> 01:09:03,463 he's the one guy that is most followed in the world, 1209 01:09:03,903 --> 01:09:05,743 by far, on all the socials. 1210 01:09:06,103 --> 01:09:09,463 So he could make a lot of a difference. 1211 01:09:11,363 --> 01:09:13,203 Did you ever get the book in his hands? 1212 01:09:13,763 --> 01:09:14,123 Do you know? 1213 01:09:14,583 --> 01:09:15,263 We don't know. 1214 01:09:15,883 --> 01:09:16,323 I tried. 1215 01:09:17,083 --> 01:09:30,003 Well, for those people listening, Andre had, well, Safer Dean wrote a beautiful note in Portuguese in the Bitcoin standard in a Portuguese edition of the Bitcoin standard. 1216 01:09:30,823 --> 01:09:35,923 And it was, as far as we're aware, it was gifted to him through channels. 1217 01:09:36,563 --> 01:09:37,623 And who knows? 1218 01:09:38,063 --> 01:09:41,023 We never know if it reached his hands, first of all. 1219 01:09:41,323 --> 01:09:44,103 Yeah, you do never know. 1220 01:09:44,103 --> 01:09:47,343 But that's out there now. 1221 01:09:47,343 --> 01:09:50,243 That's out there in the world, in the ether, and you never know. 1222 01:09:50,243 --> 01:09:56,643 Well, if some Bitcoiner listens to this somewhere and has some proper access to Christiana 1223 01:09:56,643 --> 01:09:59,523 on a more direct way, please tell them we sent them a book. 1224 01:10:00,743 --> 01:10:11,271 Make sure to read it There a little note from the author He be very thrilled to see a little retweet or something of that 1225 01:10:11,391 --> 01:10:12,131 That'll be perfect. 1226 01:10:12,591 --> 01:10:18,091 I do remember when he announced that Binance affiliation 1227 01:10:18,091 --> 01:10:20,571 because he was on the island of Mallorca 1228 01:10:20,571 --> 01:10:22,331 when we were on the island of Mallorca. 1229 01:10:22,551 --> 01:10:23,931 And he tweeted it. 1230 01:10:23,931 --> 01:10:28,131 And I'm like, dude, I'm literally 20 minutes from you. 1231 01:10:28,231 --> 01:10:30,951 I will get in a cab right now and come and explain to you. 1232 01:10:30,951 --> 01:10:39,951 why this is a bad idea like come on like just the damage that this is it's so bad like you say like 1233 01:10:39,951 --> 01:10:45,711 you said yeah he doesn't need bitcoin but these guys they probably need it more than anyone because 1234 01:10:45,711 --> 01:10:52,611 they're wealthy how do you protect it's a cool thing the nfts and this image and it's very well 1235 01:10:52,611 --> 01:10:59,711 you know it's very he cares about his image a lot as you know but yeah um oddly enough actually on 1236 01:10:59,711 --> 01:11:01,651 that Samuel showed me the other day because 1237 01:11:01,651 --> 01:11:03,851 he follows him on whatever social 1238 01:11:03,851 --> 01:11:05,031 network it is 1239 01:11:05,031 --> 01:11:07,471 that he's now using 1240 01:11:07,471 --> 01:11:09,371 red light therapy on his legs 1241 01:11:09,371 --> 01:11:11,391 after games and after training 1242 01:11:11,391 --> 01:11:13,711 well maybe he's listening to Jack Cruz 1243 01:11:13,711 --> 01:11:15,211 come on Jack 1244 01:11:15,211 --> 01:11:17,071 get hold of Cristiano 1245 01:11:17,071 --> 01:11:19,531 let's get him another 1246 01:11:19,531 --> 01:11:21,151 five years playing time and then 1247 01:11:21,151 --> 01:11:22,611 Jack to Orange Pilling 1248 01:11:22,611 --> 01:11:24,611 at the same time 1249 01:11:24,611 --> 01:11:27,511 well it would be amazing because the guy 1250 01:11:27,511 --> 01:11:28,451 you know as Samuel 1251 01:11:28,451 --> 01:11:30,871 500 million other people 1252 01:11:30,871 --> 01:11:32,591 follow him on Instagram for example 1253 01:11:32,591 --> 01:11:34,371 it's crazy numbers 1254 01:11:34,371 --> 01:11:36,671 and a lot of 1255 01:11:36,671 --> 01:11:38,911 Madarin people look up to him 1256 01:11:38,911 --> 01:11:40,811 so if he 1257 01:11:40,811 --> 01:11:41,811 could you know 1258 01:11:41,811 --> 01:11:44,591 if he understood it and 1259 01:11:44,591 --> 01:11:46,671 would be vocal about it it would 1260 01:11:46,671 --> 01:11:48,511 make such a huge difference 1261 01:11:48,511 --> 01:11:50,071 but it's 1262 01:11:50,071 --> 01:11:51,891 just a pipe dream for now 1263 01:11:51,891 --> 01:11:53,851 for now mate for now 1264 01:11:53,851 --> 01:11:56,151 look you've had crazier ideas in your life 1265 01:11:56,151 --> 01:11:59,091 like launching a fund 1266 01:11:59,091 --> 01:11:59,711 true 1267 01:11:59,711 --> 01:12:04,651 Andre always great to hang 1268 01:12:04,651 --> 01:12:06,811 really look forward to seeing you again in person 1269 01:12:06,811 --> 01:12:08,791 it was lovely to see you and Philippa 1270 01:12:08,791 --> 01:12:09,671 when you're here in London 1271 01:12:09,671 --> 01:12:13,071 I'm not sure when we'll be to Madeira next time 1272 01:12:13,071 --> 01:12:15,291 let me know when you organize this 1273 01:12:15,291 --> 01:12:17,011 hopefully you know you're welcome 1274 01:12:17,011 --> 01:12:17,411 anytime 1275 01:12:17,411 --> 01:12:20,811 I know we can just jump on a plane 1276 01:12:20,811 --> 01:12:21,911 and come home with you guys 1277 01:12:21,911 --> 01:12:24,891 but when you organize the energy thing again 1278 01:12:24,891 --> 01:12:25,991 in Lisbon let me know 1279 01:12:25,991 --> 01:12:31,211 I'll hop down there and come hang out with you guys and whatever else is going to make it down. 1280 01:12:31,351 --> 01:12:32,391 So looking forward to that. 1281 01:12:32,971 --> 01:12:33,411 Thank you. 1282 01:12:33,511 --> 01:12:34,291 Thank you for the invite. 1283 01:12:34,911 --> 01:12:35,611 No problem, mate. 1284 01:12:35,671 --> 01:12:36,071 Take care. 1285 01:12:37,311 --> 01:12:38,851 Well, there you go, everybody. 1286 01:12:39,151 --> 01:12:42,051 And thank you again, Andre, for coming back on the show. 1287 01:12:42,051 --> 01:12:46,371 Thank you for everything you are doing for Bitcoin and Bitcoiners. 1288 01:12:46,371 --> 01:12:56,291 So if you want to go and check out this fund, like I said, just hit up the website, B-A-S-A-L-T-O dot fund. 1289 01:12:56,531 --> 01:13:00,231 That's Basalto or Basalto dot fund. 1290 01:13:00,871 --> 01:13:01,971 And it's all there. 1291 01:13:02,671 --> 01:13:08,911 But more importantly, reach out to me if you want to get directly in touch with Andre. 1292 01:13:09,491 --> 01:13:14,151 But otherwise, just email them through the website or DM Andre. 1293 01:13:14,151 --> 01:13:18,751 or if you're going to one of the conferences which you should really 1294 01:13:18,751 --> 01:13:25,031 consider because Andre is going to be in Riga that's coming up 8th 10th of 1295 01:13:25,031 --> 01:13:29,211 August you can get over to the the Baltic honey badger conference there use 1296 01:13:29,211 --> 01:13:36,111 the code bitten B-I-T-T-E-N for a 10% discount on your ticket purchases or get 1297 01:13:36,111 --> 01:13:41,871 to Helsinki which is the week after so it's conference mania in August 1298 01:13:41,871 --> 01:13:49,711 Europe is honestly such a great place for Bitcoiners right now and pure Bitcoin 1299 01:13:49,711 --> 01:13:55,631 only conference content we just had Prague that was amazing we've got Riga 1300 01:13:55,631 --> 01:14:00,091 coming up we've got Helsinki there's a bunch of other stuff going on like local 1301 01:14:00,091 --> 01:14:04,871 events there's always something locally for you to find get on orange peel app 1302 01:14:04,871 --> 01:14:10,211 to find out where all of these events are taking place there's gonna be one in 1303 01:14:10,211 --> 01:14:14,891 the UK soon Bury St Edmunds there's always something going on at Cypher Monk 1304 01:14:14,891 --> 01:14:22,031 House in London they have a great place there in Bloomsbury it's awesome there's 1305 01:14:22,031 --> 01:14:26,651 always an initiative and it's always listed on orange pill app so go to 1306 01:14:26,651 --> 01:14:31,451 orange pill app hit the link in the show notes get yourself signed up yes it is a 1307 01:14:31,451 --> 01:14:37,111 paid subscription because we don't want the crypto bros and the bots on there 1308 01:14:37,111 --> 01:14:39,211 And if it's free, you're the product. 1309 01:14:39,591 --> 01:14:47,591 So you pay $4 a month and you can pay in Lightning, excuse me, via the Lightning Network in Bitcoin, in Sats, and find your people. 1310 01:14:47,971 --> 01:14:50,891 There's almost 17,000 Bitcoiners on that app now. 1311 01:14:51,271 --> 01:14:55,051 There's over 600 events listed on that app. 1312 01:14:55,491 --> 01:15:02,091 And you can sort it whether, you know, you want to sort it by date or whether you want to sort it by what's nearest you. 1313 01:15:02,491 --> 01:15:06,031 So you can get along and you can start meeting Bitcoiners and you can start building. 1314 01:15:06,031 --> 01:15:14,451 Go and check out, like I said at the beginning here, the Sovereign Engineering Cohort is currently looking for new recruits over on Madeira. 1315 01:15:14,711 --> 01:15:25,411 If you want to go and spend a few months on Madeira with Bitcoiners, hopping your skills, learning something completely new, connecting with just one of the most amazing Bitcoin networks. 1316 01:15:25,891 --> 01:15:29,431 It's heavily lent towards NOSTA as well. 1317 01:15:29,631 --> 01:15:34,131 So you've got that beautiful blend of decentralization going on. 1318 01:15:34,131 --> 01:15:38,871 and like I said you can even live on a Bitcoin standard over in Madeira right 1319 01:15:38,871 --> 01:15:45,951 now even for your rental that's one of Andre's other businesses he has a rental 1320 01:15:45,951 --> 01:15:51,111 business where you can rent directly from him in Bitcoin and last time I was 1321 01:15:51,111 --> 01:15:55,371 there he hooked me up with a car rental company so I could rent my car in 1322 01:15:55,371 --> 01:15:59,571 Bitcoin I got my haircut in Bitcoin you can do your shopping in Bitcoin you can 1323 01:15:59,571 --> 01:16:06,191 go to your bars, restaurants, cafes, and spend Bitcoin. Anything. It's happening. And if you're 1324 01:16:06,191 --> 01:16:10,251 not part of it, what are you doing? If you're still sitting on the sidelines lurking on Twitter, 1325 01:16:10,851 --> 01:16:15,651 now's the time. Step forward. Go meet your plebs. Get to one of these conferences. Get an orange 1326 01:16:15,651 --> 01:16:22,391 pill app. Start building. Start building whatever it is that you can do to add into this ecosystem, 1327 01:16:22,571 --> 01:16:28,611 this parallel economy. Get over to plebeian.market. Chief Monkey designed that. When he was on one of 1328 01:16:28,611 --> 01:16:30,351 the sovereign engineering cohorts. 1329 01:16:30,791 --> 01:16:33,211 And this is a place where you can go and find 1330 01:16:33,211 --> 01:16:35,891 goods and services and pay in Bitcoin. 1331 01:16:36,291 --> 01:16:38,731 It's an incredible, incredible initiative. 1332 01:16:39,091 --> 01:16:41,671 And I know David Bennett started one over in the US 1333 01:16:41,671 --> 01:16:42,591 called the Circle K. 1334 01:16:43,171 --> 01:16:44,031 Not the Circle K. 1335 01:16:45,591 --> 01:16:48,351 Strange things afoot at the Circle K, Ted. 1336 01:16:48,891 --> 01:16:51,691 No, it's the Circle P, inspired by the Circle K. 1337 01:16:51,691 --> 01:16:54,911 So get over to Dave Bennett's show, Bitcoin And, 1338 01:16:54,971 --> 01:16:55,751 and go listen to that. 1339 01:16:55,991 --> 01:16:57,151 I just had him on the show again. 1340 01:16:57,151 --> 01:16:59,751 We talked about his Forrest Walker project. 1341 01:17:00,591 --> 01:17:01,451 Not much left to say. 1342 01:17:01,551 --> 01:17:02,311 Stack your sats. 1343 01:17:02,791 --> 01:17:04,691 Go find Swan Bitcoin in the US. 1344 01:17:04,851 --> 01:17:06,551 SwanBitcoin.com forward slash bitten. 1345 01:17:06,951 --> 01:17:08,451 Find Relay across Europe. 1346 01:17:08,711 --> 01:17:11,591 R-E-L-A-I dot C-H forward slash bitten. 1347 01:17:11,711 --> 01:17:12,971 You can download the Relay app. 1348 01:17:13,371 --> 01:17:15,491 You've got a wallet built in right there. 1349 01:17:15,591 --> 01:17:16,571 And it's lightning enabled. 1350 01:17:17,051 --> 01:17:17,931 That is your wallet. 1351 01:17:18,051 --> 01:17:19,371 It's a self-custodial wallet. 1352 01:17:19,831 --> 01:17:20,591 Write down your words. 1353 01:17:20,691 --> 01:17:21,331 Keep them safe. 1354 01:17:21,431 --> 01:17:24,351 Start stacking up to 1,000 Swiss or equivalent per day. 1355 01:17:24,751 --> 01:17:26,091 Set up your dollar cost average. 1356 01:17:26,091 --> 01:17:31,971 excuse me your fiat cost average get over to paywithflash.com listen to these podcasts on 1357 01:17:31,971 --> 01:17:38,131 fountain app and go and check out bubble i gave the read at the beginning bubble.fm b-u-b-b-l.fm 1358 01:17:38,131 --> 01:17:43,791 helps you curate your podcast so you can listen to the most important topics of the week thank 1359 01:17:43,791 --> 01:17:49,171 you everybody for listening i hope you enjoyed this one reach out to andre take care and i'll 1360 01:17:49,171 --> 01:17:49,851 catch you on the next show