1
00:00:00,000 --> 00:00:10,700
At one point, you're not going to be able to buy a Bitcoin or a 0.1 Bitcoin, right?

2
00:00:11,280 --> 00:00:12,860
Maybe even smaller. I don't know.

3
00:00:13,320 --> 00:00:14,420
How much is enough?

4
00:00:14,620 --> 00:00:16,420
Do you know how many Bitcoin there are available in the world?

5
00:00:16,780 --> 00:00:20,440
Only like 17, maybe 18 million, probably less.

6
00:00:20,580 --> 00:00:22,540
And do you know how many millionaires there are in the world?

7
00:00:23,840 --> 00:00:25,340
I worked at a bank.

8
00:00:25,340 --> 00:00:32,060
I can actually say I'm a former banker because I took the oath that they introduced after the great financial crisis.

9
00:00:32,420 --> 00:00:36,660
Bitcoin is either zero or it's the black hole of value.

10
00:00:36,880 --> 00:00:40,120
Like everything of value will be measured in Bitcoin.

11
00:00:40,880 --> 00:00:44,920
And then figure out how you can get as much of it before you cannot ever buy it anymore.

12
00:00:45,040 --> 00:00:46,040
Probably in 20...

13
00:00:46,040 --> 00:00:54,320
When 99% of all Bitcoin are mined and the last 1% is mined in the 107 years after, which is a rounding error.

14
00:00:54,320 --> 00:00:56,900
So you have f***ed years left.

15
00:01:24,320 --> 00:01:29,840
hundred percent of your portfolio to this with a 30-year time horizon most money managers would

16
00:01:29,840 --> 00:01:37,440
call you an absolute lunatic so why are you so bullish on bitcoin and seeing it as the end all

17
00:01:37,440 --> 00:01:44,600
be all and going all in well i think the sentence i say is bitcoin is an asymmetric opportunity

18
00:01:44,600 --> 00:01:51,960
based on publicly available information right so um well there's there's a lot of there's a lot to

19
00:01:51,960 --> 00:01:58,440
unpacked there, but that's what I think, right? And I think where it starts is that,

20
00:01:58,900 --> 00:02:04,280
yeah, like you said, you know, my podcast is focused on millennials. I think you're a bit

21
00:02:04,280 --> 00:02:09,260
younger than me, but I think you have the same problem, maybe even worse than the millennials,

22
00:02:09,820 --> 00:02:17,780
is that, yeah, once you realize that fiat money debasement is basically a perpetual thing and also

23
00:02:17,780 --> 00:02:25,700
ever accelerating, then how do you plan for your future? How can you make sure that you can actually

24
00:02:25,700 --> 00:02:35,920
retire or whatever that means for us in reality versus what we've been told as to how your life

25
00:02:35,920 --> 00:02:42,180
goes, right? So you go to school, you get a job and you buy all these things, a house, etc.,

26
00:02:42,180 --> 00:02:49,560
build a family and then you retire, right? But if you're a mid-30s millennial and you still have to

27
00:02:49,560 --> 00:02:56,980
work for 30 years and you have either, you know, a 401k or a money manager that does something for

28
00:02:56,980 --> 00:03:03,620
you or an accountant or you do it yourself, you know, you're planning on having X amount of money

29
00:03:03,620 --> 00:03:09,680
units by the time you retire, making sure you have a certain level of life that you want, right?

30
00:03:09,680 --> 00:03:13,080
That's all an individual preference.

31
00:03:13,360 --> 00:03:29,160
But how do you plan for the future if the value of each unit that you're planning on using in that future is being debased, like I said, at an accelerating rate, but also in the same way, in a very unpredictable way?

32
00:03:29,160 --> 00:03:33,560
Like there is no way to plan for this future.

33
00:03:33,560 --> 00:03:46,900
And I think the essence of that is to understand that it is not possible to plan for this future because there is an infinite possibility to create more money units.

34
00:03:47,000 --> 00:03:54,880
So that's why people, of course, are putting a lot of money in real estate, right, or long index funds and stuff like that.

35
00:03:54,940 --> 00:03:59,660
All the stuff that traditional financial advisors would tell you to do.

36
00:03:59,660 --> 00:04:17,780
But all these people are also educated in a system that is designed to perpetuate, you know, the, I would say, involuntary, kind of like unconscious participation in this entire system, right?

37
00:04:17,780 --> 00:04:35,940
So if you're told by someone who knows what money is that you should put your money in XYZ, long index fund or government bonds that are risk free, but in 2025 have a real negative rate of return, then yeah, you're not really going to make it into that future.

38
00:04:35,940 --> 00:04:38,700
That is my personal conclusion.

39
00:04:39,120 --> 00:04:42,380
So you have to start thinking for yourself.

40
00:04:42,720 --> 00:04:47,560
And I think before you even get to Bitcoin, you have to understand that you have this problem today.

41
00:04:47,560 --> 00:04:51,620
So whether or not you're interested in Bitcoin is not really relevant.

42
00:04:51,960 --> 00:05:10,240
The first step is understanding that it's getting increasingly hard to plan for your future, but also realizing that your idea of this future with having a retirement and certain social benefits or whatever in your country is becoming more and more unlikely.

43
00:05:10,480 --> 00:05:13,220
So you need to do something today.

44
00:05:14,360 --> 00:05:15,900
I think that's one.

45
00:05:15,900 --> 00:05:23,460
then two is okay what what are all the things that you that you could do right and um it's funny

46
00:05:23,460 --> 00:05:28,780
because before we started you said you know i i worked at a bank i can actually say i'm a former

47
00:05:28,780 --> 00:05:35,600
banker because i took the oath that they introduced after the great financial crisis so everyone would

48
00:05:35,600 --> 00:05:40,560
would promise that they would behave literally it was that it was literally me watching a video of

49
00:05:40,560 --> 00:05:44,880
the ceo saying like these are our guidelines do you agree yeah i agree okay now you're this was

50
00:05:44,880 --> 00:05:54,480
banker oath like literally nothing else it's so crazy but um the thing the thing is that even even

51
00:05:54,480 --> 00:06:01,600
when i was 30 and i had a mortgage and i worked at a bank um i didn't even understand money it took me

52
00:06:01,600 --> 00:06:05,760
a lunch with a colleague who told me did you know that the money the bank is not yours and me

53
00:06:05,760 --> 00:06:11,040
replying like wow what sorry what are what are you talking about and then he explained fractional

54
00:06:11,040 --> 00:06:15,520
reserve banking to me and all that stuff and it took me that interaction to realize there is

55
00:06:15,520 --> 00:06:21,760
something way bigger going on than thinking oh bitcoin is this investment or i'm gonna get rich

56
00:06:21,760 --> 00:06:28,880
and that really drove me into learning more about the financial and economical aspects of bitcoin

57
00:06:28,880 --> 00:06:44,020
What if I told you you never had to sell your Bitcoin? Instead, you can borrow against it with

58
00:06:44,020 --> 00:06:49,060
SALT lending. Why give up your hard-earned Bitcoin when you can unlock its value without

59
00:06:49,060 --> 00:06:55,660
letting it go? With SALT, you get secure Bitcoin collateralized loans with no credit checks,

60
00:06:55,660 --> 00:07:00,380
no prepayment fees, and best of all, no rehypothecation.

61
00:07:01,060 --> 00:07:04,580
Salt has had zero customer collateral losses since it launched.

62
00:07:05,100 --> 00:07:10,580
Salt was the first platform to offer Bitcoin collateralized loans starting way back in 2016.

63
00:07:11,280 --> 00:07:15,260
Today, they offer tailored options for both individuals and businesses.

64
00:07:15,860 --> 00:07:20,280
And now introducing Salt Shield, the no liquidation solution.

65
00:07:20,660 --> 00:07:25,140
No forced liquidations during the lifetime of your loan when you're enrolled with Salt Shield.

66
00:07:25,140 --> 00:07:32,100
This just launched at the Bitcoin conference in Las Vegas, and it is next level peace of mind.

67
00:07:32,740 --> 00:07:42,400
For Green Candle listeners only, head to saltlending.com slash green dash candle for this exclusive offer for your Bitcoin collateralized loan.

68
00:07:42,760 --> 00:07:45,420
You can get cash for your Bitcoin today.

69
00:07:46,100 --> 00:07:48,780
Salt Lending, secure, trusted, proven.

70
00:07:49,160 --> 00:07:54,700
But even more about the reason of existence of Bitcoin is what we and that's what we started talking about, right?

71
00:07:54,700 --> 00:08:18,500
So if you live or well, if you're forced to participate in a money system where each unit is being debased into perpetuity, and in essence, you are robbed of your time and energy, because that is basically what you're trying to save with the rewards from your labor in the abstracted form of what we call money, then yeah, what should you do?

72
00:08:18,500 --> 00:08:24,060
And so if you look at all these options, oh yeah, that's what I wanted to say.

73
00:08:24,160 --> 00:08:30,820
So although I've worked in finance, I don't have a finance background in that sense.

74
00:08:30,920 --> 00:08:39,440
And I think that helped me to eventually just end up with Bitcoin because for me, it is just rational thinking.

75
00:08:39,600 --> 00:08:41,240
So I think there's two parts there.

76
00:08:41,240 --> 00:08:49,380
Like you need to understand how Bitcoin works to a degree and why you cannot just make more of it, one.

77
00:08:49,540 --> 00:09:00,840
And two, why the absolute cap is basically secured by the consensus of all the people that are participating in the Bitcoin network.

78
00:09:00,940 --> 00:09:03,820
I think those are essential that you need to understand that.

79
00:09:03,820 --> 00:09:16,700
And then assuming that keeps on proliferating, right, as Jeff Booth says, as long as Bitcoin stays decentralized and secure, which means no one can change the ledger.

80
00:09:17,420 --> 00:09:24,780
So the integrity of the Bitcoin blockchain or time chain only goes up over time.

81
00:09:24,940 --> 00:09:31,780
I also call it, it's the highest form of ordered information ever to be created by people, right?

82
00:09:31,780 --> 00:09:36,540
When you audit the Bitcoin blockchain now and I do it, it's the exact same for us.

83
00:09:36,880 --> 00:09:37,920
There's no differentiation.

84
00:09:38,580 --> 00:09:39,160
It's wild.

85
00:09:39,660 --> 00:09:45,920
Like that there's an absolute truth that we share and that we can individually verify from across the world.

86
00:09:47,360 --> 00:09:59,320
And so when you understand that as long as Bitcoin stays decentralized and secure, the integrity will only grow, which makes the value only grow.

87
00:09:59,320 --> 00:10:02,900
because if the integrity grows, the predictability grows,

88
00:10:03,040 --> 00:10:04,140
the trust grows, et cetera.

89
00:10:06,200 --> 00:10:10,940
Okay, so if, and in the protocol rules, I mean,

90
00:10:11,120 --> 00:10:12,260
and so in the protocol rules,

91
00:10:12,320 --> 00:10:14,900
it says there will never be more than 21 million Bitcoin.

92
00:10:15,120 --> 00:10:19,560
So there is this absolute finite supply, basically.

93
00:10:20,240 --> 00:10:22,400
So when you understand that that exists,

94
00:10:22,400 --> 00:10:27,340
I think that's the main element you should use

95
00:10:27,340 --> 00:10:31,700
to compare it to all the other assets

96
00:10:31,700 --> 00:10:33,840
that you could use to store your wealth in

97
00:10:33,840 --> 00:10:35,640
because in a fiat money,

98
00:10:35,720 --> 00:10:36,680
like we talked about now,

99
00:10:36,960 --> 00:10:37,440
like I mentioned,

100
00:10:37,940 --> 00:10:38,980
it's just not possible.

101
00:10:39,880 --> 00:10:42,020
And so what have people done up till now?

102
00:10:42,140 --> 00:10:45,120
They put it in real estate

103
00:10:45,120 --> 00:10:46,620
that you need to maintain.

104
00:10:46,740 --> 00:10:47,760
It becomes a liability.

105
00:10:48,220 --> 00:10:49,740
It's never, you know,

106
00:10:51,420 --> 00:10:53,080
it's conceptually, it's yours.

107
00:10:53,460 --> 00:10:55,060
You know, there's a title deed and everything.

108
00:10:55,280 --> 00:10:56,640
But if you don't pay the property taxes,

109
00:10:56,640 --> 00:11:01,300
Eventually, someone with a gun will come to the door and say, like, you have to pay or we take this away from you.

110
00:11:01,360 --> 00:11:04,020
So it's never really your property.

111
00:11:04,680 --> 00:11:07,680
Stocks are definitely never your property, right?

112
00:11:08,040 --> 00:11:10,580
There's clearing houses in between.

113
00:11:10,860 --> 00:11:18,620
You know, the stock apps that you use are just basically a database viewer of whatever is ascribed to your account.

114
00:11:18,620 --> 00:11:20,220
and so

115
00:11:20,220 --> 00:11:22,940
yeah you can go down the list

116
00:11:22,940 --> 00:11:24,500
of all the things that you could

117
00:11:24,500 --> 00:11:26,920
store your wealth in next to fiat money

118
00:11:26,920 --> 00:11:28,700
you end up with

119
00:11:28,700 --> 00:11:31,120
gold and silver those are all traditional

120
00:11:31,120 --> 00:11:33,160
ways to do that

121
00:11:33,160 --> 00:11:34,780
and they're not bad

122
00:11:34,780 --> 00:11:36,920
but I think if you think rationally

123
00:11:36,920 --> 00:11:39,200
you have to wake up to the fact

124
00:11:39,200 --> 00:11:40,820
that something came about

125
00:11:40,820 --> 00:11:42,780
that is superior to

126
00:11:42,780 --> 00:11:45,040
gold, silver and all these other

127
00:11:45,040 --> 00:11:45,460
assets

128
00:11:45,460 --> 00:11:48,300
so why is that?

129
00:11:48,620 --> 00:12:01,440
Bitcoin is really the truly probably only thing you, well, it's probably the only thing you can ever truly own besides your body or something.

130
00:12:02,300 --> 00:12:05,700
It's, you know, if you hold gold, I kill you.

131
00:12:05,860 --> 00:12:07,080
I have your gold.

132
00:12:07,200 --> 00:12:11,060
If I hold Bitcoin with a private key, you kill me.

133
00:12:11,120 --> 00:12:12,400
You don't get my Bitcoin.

134
00:12:12,400 --> 00:12:22,900
I can move my Bitcoin anywhere in the world because it lives nowhere and everywhere at the same time.

135
00:12:24,400 --> 00:12:26,240
I can sell my Bitcoin.

136
00:12:26,480 --> 00:12:31,160
I can transfer my Bitcoin to anyone at any time, at any place in the world.

137
00:12:31,600 --> 00:12:33,240
Try doing that with real estate.

138
00:12:33,360 --> 00:12:38,060
Try doing that with prime real estate in Texas on the beach.

139
00:12:38,060 --> 00:12:46,200
right like if you want to sell a prime real estate home in texas on the beach no one in

140
00:12:46,200 --> 00:12:51,440
new zealand is going to buy that right but there's people in new zealand that would want to buy my

141
00:12:51,440 --> 00:12:57,500
bitcoin maybe those people want to buy your gold but try shipping the gold to new zealand right so

142
00:12:57,500 --> 00:13:03,980
if you just go down the list of characteristics of different types of assets that you can use to

143
00:13:03,980 --> 00:13:09,860
store your wealth then in my opinion rationally you would you would end up with um with bitcoin

144
00:13:09,860 --> 00:13:15,360
but there's this back and forth i think also in the learning right because then now i think people

145
00:13:15,360 --> 00:13:21,060
could ask well but but why is bitcoin a store of wealth right like aren't there you know 20 or 40

146
00:13:21,060 --> 00:13:31,740
or 80 hundred thousand other um other cryptos and i think this is the the right way or a good way

147
00:13:31,740 --> 00:13:33,700
to kind of go through the thinking

148
00:13:33,700 --> 00:13:37,280
because you will go back and forth, right?

149
00:13:37,320 --> 00:13:38,820
Because when you realize, okay,

150
00:13:38,900 --> 00:13:41,360
there is apparently this digital asset

151
00:13:41,360 --> 00:13:42,800
where I can do all these things

152
00:13:42,800 --> 00:13:45,500
that I cannot do with traditional assets

153
00:13:45,500 --> 00:13:50,460
that I know or other people have told me to know.

154
00:13:51,900 --> 00:13:54,100
Okay, why is that?

155
00:13:54,200 --> 00:13:57,660
Why would computer code be something that can store value?

156
00:13:57,660 --> 00:14:15,260
And so that I think is the way that you can like rationally go back and forth to, well, I ended up with the conclusion that I should be 90 to 100% in Bitcoin because I think all the other assets are inferior.

157
00:14:15,260 --> 00:14:32,260
And that combined with the asymmetric opportunity coming from the fact that it's a new asset, which was born right when the current main system started to die, basically.

158
00:14:32,260 --> 00:14:37,900
and it's an asymmetric opportunity

159
00:14:37,900 --> 00:14:41,700
because no one really ever thought about what money is

160
00:14:41,700 --> 00:14:43,220
or why it's broken

161
00:14:43,220 --> 00:14:47,160
and why people are substituting the store of value function

162
00:14:47,160 --> 00:14:50,340
of what money should have with homes,

163
00:14:50,420 --> 00:14:53,740
how homes became like a tradable asset

164
00:14:53,740 --> 00:14:55,560
instead of a utility asset, right?

165
00:14:55,560 --> 00:14:57,120
So there's all these things

166
00:14:57,120 --> 00:14:58,880
that people have never thought about

167
00:14:58,880 --> 00:15:01,080
when it comes to money or the function of the money

168
00:15:01,080 --> 00:15:05,200
or even entertain the idea that the money could be broken,

169
00:15:05,740 --> 00:15:07,720
that there are other people no better than us

170
00:15:07,720 --> 00:15:09,980
that can just create infinite money

171
00:15:09,980 --> 00:15:13,720
and therefore dilute our personal time and energy.

172
00:15:14,240 --> 00:15:18,560
That sounds like a crazy conspiracy, right?

173
00:15:19,000 --> 00:15:19,960
But it's true.

174
00:15:20,460 --> 00:15:22,440
And if you still think it's a conspiracy,

175
00:15:22,720 --> 00:15:26,640
well, then the Bitcoin meme is have fun staying poor.

176
00:15:26,640 --> 00:15:33,140
But that, for example, is not a meme to shame, right?

177
00:15:33,140 --> 00:15:40,160
Like it's a meme to wake up because you will be poor when you let all these other people

178
00:15:40,160 --> 00:15:45,560
keep on debasing the money that you earn for spending your finite time and energy into infinity.

179
00:15:45,560 --> 00:15:58,251
So if you want to keep on doing the dumbest trade ever to exist then you can have fun staying poor Like you need to wake up to the fact that you being bamboozled and that you were never aware of it and that you never thought about it right

180
00:15:58,311 --> 00:16:01,131
That probably your only idea of money

181
00:16:01,131 --> 00:16:03,571
came from when you were like six, seven or eight

182
00:16:03,571 --> 00:16:04,691
and you were sent to a store

183
00:16:04,691 --> 00:16:06,131
with some coins and some bills

184
00:16:06,131 --> 00:16:06,651
and you were like,

185
00:16:06,711 --> 00:16:08,151
well, I need to get a bread or a milk

186
00:16:08,151 --> 00:16:10,131
and you gave it to the person in the store

187
00:16:10,131 --> 00:16:11,111
and the person gave you the milk

188
00:16:11,111 --> 00:16:11,991
and you were like, well, okay,

189
00:16:12,051 --> 00:16:13,931
apparently this is money.

190
00:16:14,171 --> 00:16:16,191
And then you never thought about it again.

191
00:16:16,471 --> 00:16:41,431
Right. And I think that is just hard. It's hard to see that. And it took me a long time. Like I said, I was working at a bank and I didn't even understand it. A lot of people working at the bank also don't understand it. But once you see it, that that is the case, there's this bifurcation, right? There's a red or blue pill.

192
00:16:41,431 --> 00:16:46,851
It's like, okay, there are other people that control the value of the money that I'm forced to use.

193
00:16:47,751 --> 00:16:49,331
Am I okay with that or not?

194
00:16:50,111 --> 00:17:01,971
And that is, I think, the first decision you have to make before you could even get to possibly seeing Bitcoin as the solution that you can use to protect yourself.

195
00:17:02,791 --> 00:17:04,511
Yeah, I mean, that was great.

196
00:17:04,631 --> 00:17:06,111
I mean, you went through it all.

197
00:17:06,751 --> 00:17:09,891
But I'm curious, you know, when you're working at a bank, right?

198
00:17:09,891 --> 00:17:11,891
I mean, you said you had one lunch with a colleague.

199
00:17:12,591 --> 00:17:16,291
Obviously, you fell down the rabbit hole at some point after that.

200
00:17:16,551 --> 00:17:26,911
What did it take for you to get from, okay, maybe I'm going to dip my toe in 1% to 2% allocation to get to 100% allocation of just Bitcoin?

201
00:17:27,011 --> 00:17:29,431
Was it a certain amount of hours studying?

202
00:17:29,811 --> 00:17:31,691
Was it something that just clicked?

203
00:17:32,331 --> 00:17:35,051
Last bull run, we had exchanges blow up.

204
00:17:35,251 --> 00:17:38,971
You saw FTX, Celsius, BlockFi, you name it.

205
00:17:38,971 --> 00:17:43,311
but the true power of Bitcoin is getting it off on exchange into cold storage.

206
00:17:43,651 --> 00:17:48,511
This bull run, I'm trusting Trezor, the company that's been around for over a decade,

207
00:17:48,511 --> 00:17:54,711
and they just had a brand new release of the best hardware wallet in the game,

208
00:17:54,851 --> 00:17:56,291
the Trezor Safe7.

209
00:17:56,631 --> 00:17:59,471
It's got the first audible secure element.

210
00:17:59,991 --> 00:18:01,791
No other hardware wallet has this.

211
00:18:02,291 --> 00:18:04,051
On top of it, I travel a lot,

212
00:18:04,051 --> 00:18:10,671
So I need an easy way to connect my Bitcoin hardware wallet to my laptop, phone, what have you.

213
00:18:11,091 --> 00:18:16,151
Therefore, it is the easiest way and has the best connectivity to access your Bitcoin.

214
00:18:16,711 --> 00:18:18,751
This is truly how you become your own bank.

215
00:18:19,191 --> 00:18:21,931
And the best way to do that is with a Trezor Safe7.

216
00:18:22,231 --> 00:18:26,531
So you can go to the affiliate link down below and get yourself one right now.

217
00:18:26,831 --> 00:18:30,791
And do it quickly because they are flying off the shelves, folks.

218
00:18:30,791 --> 00:18:35,271
So do it with the easiest and best way to get your Bitcoin off exchanges.

219
00:18:35,551 --> 00:18:40,611
So go to the affiliate link down below, get yourself a treasure save seven and get your

220
00:18:40,611 --> 00:18:43,531
Bitcoin off exchanges in the easiest way possible.

221
00:18:43,851 --> 00:18:44,211
All right.

222
00:18:44,291 --> 00:18:44,891
Enough from me.

223
00:18:44,991 --> 00:18:45,951
Let's get back to the show.

224
00:18:46,991 --> 00:18:51,331
Like, why did you all of a sudden go from, OK, you know, I mean, because I feel like everybody

225
00:18:51,331 --> 00:18:52,631
kind of gets to that point, right?

226
00:18:52,631 --> 00:18:54,631
Like, all right, I'll put a little in Bitcoin.

227
00:18:54,811 --> 00:18:55,711
We'll see what it is.

228
00:18:55,751 --> 00:18:59,571
And then you kind of get down the rabbit hole and then you become the maxis like we all

229
00:18:59,571 --> 00:18:59,811
are.

230
00:18:59,811 --> 00:19:03,351
So what took you to that, you know, crossing the Rubicon there?

231
00:19:03,531 --> 00:19:04,391
Yeah, that's a great question.

232
00:19:04,511 --> 00:19:07,251
So when I had that lunch, I was already into Bitcoin.

233
00:19:07,391 --> 00:19:16,251
Like I walked into the HQ in the central business district of Amsterdam with a Bitcoin pin on my backpack, right?

234
00:19:16,271 --> 00:19:18,851
Always feeling like a little, you know, infiltrator.

235
00:19:19,511 --> 00:19:23,391
But until then, I really saw it as an investment.

236
00:19:24,071 --> 00:19:25,411
Like, oh, I'm going to get rich, whatever.

237
00:19:25,411 --> 00:19:33,551
but after that conversation so I think there were a few kind of like pivotal points it's hard to

238
00:19:33,551 --> 00:19:37,911
kind of tie them all together but this was one like the conversation was one and I just remember

239
00:19:37,911 --> 00:19:43,651
walking away being like okay I'm an idiot I'm an idiot I'm into this I work at a bank I have a

240
00:19:43,651 --> 00:19:48,311
mortgage like I'm doing all these things and I have no clue how this financial system works so I

241
00:19:48,311 --> 00:19:56,651
realized that I wasn't the actor that I thought I was, but I was a subject in a system. And yeah,

242
00:19:56,651 --> 00:20:01,531
I just naturally got to that place where, like I just said, I thought, okay, am I okay with that or

243
00:20:01,531 --> 00:20:08,731
not? And so I don't know specifically what I did or studied, but I do know that at one point,

244
00:20:08,731 --> 00:20:16,331
I just realized, okay, so I need to store my wealth, however much that is, is irrelevant,

245
00:20:16,331 --> 00:20:28,211
So you need to store your money, your pooled capital, until a point in the future where you want or maybe have to use it for XYZ use case.

246
00:20:28,391 --> 00:20:34,531
That is all dependent on your own wants, needs, desires, etc.

247
00:20:34,691 --> 00:20:38,651
But that is what you've been taught when you were younger, right?

248
00:20:38,711 --> 00:20:40,151
Saving is good, etc.

249
00:20:40,151 --> 00:20:56,991
But if you're saving in money units that are losing purchasing power over time, that's a bad decision. And that's why people feel like they need to put the money to work. But what people don't add to that is that's taking extra risk.

250
00:20:56,991 --> 00:21:03,291
right so with a job or a venture you're already taking risk by choosing to do that right choosing

251
00:21:03,291 --> 00:21:09,011
to to spend your time and energy on that but when the reward you receive is being

252
00:21:09,011 --> 00:21:15,451
or it loses its its purchasing power over time because it's being debased you basically have a

253
00:21:15,451 --> 00:21:19,971
secret second job that you don't know you have so when you're home from your job or your venture

254
00:21:19,971 --> 00:21:26,231
you need to do stuff to mitigate the inevitable accelerating mathematically assured debasement

255
00:21:26,231 --> 00:21:28,611
of the reward that you got today.

256
00:21:29,311 --> 00:21:32,691
So people have been taught,

257
00:21:32,811 --> 00:21:34,631
like I said, put it in these funds

258
00:21:34,631 --> 00:21:36,651
or put it in real estate or whatever,

259
00:21:36,751 --> 00:21:39,331
but they're not doing it in a conscious way, right?

260
00:21:39,371 --> 00:21:42,871
It's all part of this system

261
00:21:42,871 --> 00:21:46,971
of perpetual debt and nominal returns,

262
00:21:46,971 --> 00:21:54,611
but not about protecting your purchasing power

263
00:21:54,611 --> 00:21:55,851
over space and time

264
00:21:55,851 --> 00:22:00,631
in a way that is understandable

265
00:22:00,631 --> 00:22:03,271
and therefore at an acceptable,

266
00:22:04,391 --> 00:22:06,971
conscious level of risk taking,

267
00:22:07,271 --> 00:22:09,031
if that makes sense, right?

268
00:22:09,091 --> 00:22:14,991
So when I realized that I was a subject in a system

269
00:22:14,991 --> 00:22:19,251
that I could never truly understand on one side,

270
00:22:20,151 --> 00:22:21,451
and I, you know, option A,

271
00:22:21,551 --> 00:22:23,691
and then I saw option B, which was Bitcoin,

272
00:22:23,691 --> 00:22:25,651
which, like I mentioned before,

273
00:22:25,851 --> 00:22:30,491
I can verify by myself at any time, anywhere, right?

274
00:22:30,511 --> 00:22:31,751
I can truly own it.

275
00:22:31,831 --> 00:22:35,731
I can send it to anyone without any intermediary.

276
00:22:36,651 --> 00:22:39,291
I can store it anywhere, et cetera.

277
00:22:39,791 --> 00:22:43,971
So when I just realized that if you look at your current wealth

278
00:22:43,971 --> 00:22:45,691
or whatever you have on your savings account,

279
00:22:45,771 --> 00:22:48,631
look at it just visually, it's just like one unit,

280
00:22:48,691 --> 00:22:49,891
a unit of your capital.

281
00:22:50,371 --> 00:22:55,091
Move that into a system that you could actually verify for yourself.

282
00:22:55,091 --> 00:22:59,851
And once I kind of like visualized or saw that, that's kind of when I went all in.

283
00:23:00,151 --> 00:23:00,211
Yeah.

284
00:23:01,111 --> 00:23:01,511
Yeah.

285
00:23:01,611 --> 00:23:03,331
And I mean, hey, I'm with you on that.

286
00:23:03,371 --> 00:23:09,471
And I think once you kind of, I guess, hit that Rubicon, it's almost like freeing in a sense.

287
00:23:09,671 --> 00:23:22,491
But I think, you know, another question I got for you on this is when you said, you know, when you have enough, basically, based on however much, you know, you want for your lifestyle choices and everything like that.

288
00:23:22,491 --> 00:23:28,251
You know, what were some of the things that you, I guess, determined with as like how much is enough?

289
00:23:28,311 --> 00:23:35,551
Because I think, you know, when we reach this fixed supply asset, right, it's almost like, you know, Michael Saylor, too.

290
00:23:35,671 --> 00:23:44,891
When he said he first discovered Bitcoin, he was waking up in the middle of the night with cold sweats because he's like, somebody else is going to figure this out and I'm not going to be able to get enough of it.

291
00:23:44,891 --> 00:23:52,951
when did you kind of come to that conclusion that hey maybe this amount is enough or you know I don't

292
00:23:52,951 --> 00:23:58,131
need to keep stacking as heavily you know I can treat myself to a nice little stake or something

293
00:23:58,131 --> 00:24:05,011
like that you know when did you reach that point well I think I like the meme stay humble stack

294
00:24:05,011 --> 00:24:14,751
sets right but I think from Eric stacks I had he said stay humble stay solvent stack sets or

295
00:24:14,751 --> 00:24:20,111
something like that and i think that's a great addition right like holding holding bitcoin is

296
00:24:20,111 --> 00:24:27,391
not just waiting and then wishing just just waiting right with anticipation oh well that that by the

297
00:24:27,391 --> 00:24:34,231
way was another uh clear point for me where i was like okay i need to be in in bitcoin is when i saw

298
00:24:34,231 --> 00:24:40,111
a guy on twitter say well if you think bitcoin is not going to zero you need a seat in the stadium

299
00:24:40,111 --> 00:24:44,271
because, and it was funny because it resonated

300
00:24:44,271 --> 00:24:46,491
because this is how I always looked at Bitcoin.

301
00:24:46,691 --> 00:24:48,271
It's like Bitcoin is either zero

302
00:24:48,271 --> 00:24:51,411
or it's the black hole of value.

303
00:24:51,591 --> 00:24:54,851
Like everything of value will be measured in Bitcoin.

304
00:24:55,051 --> 00:24:59,291
I don't think there's a middle way ending for Bitcoin.

305
00:24:59,431 --> 00:25:03,271
So in that sense, Bitcoin is not without risk, obviously,

306
00:25:03,971 --> 00:25:05,711
but I'm taking a certain risk

307
00:25:05,711 --> 00:25:08,531
based on my current understanding,

308
00:25:08,531 --> 00:25:12,671
based on my actual own research and reflection and whatever,

309
00:25:12,811 --> 00:25:17,491
like everyone should do with whatever they hold their wealth in, right?

310
00:25:18,391 --> 00:25:20,431
The point is that in a fiat money system,

311
00:25:20,571 --> 00:25:24,251
you're just bamboozled without you knowing it, right?

312
00:25:24,371 --> 00:25:27,651
And therefore, there's other people that take advantage of that.

313
00:25:27,651 --> 00:25:34,771
So when I realized that it is, you know, stay humble, stay solvent, stack sets,

314
00:25:34,771 --> 00:25:37,231
and when I got into the stadium, right,

315
00:25:37,271 --> 00:25:39,431
when I saw that tweet and I was like, yeah,

316
00:25:39,671 --> 00:25:41,251
the tweet literally said,

317
00:25:41,351 --> 00:25:42,571
if you think it's not going to zero,

318
00:25:42,631 --> 00:25:44,011
you should get a seat in the stadium.

319
00:25:44,231 --> 00:25:45,791
There is no middle ending for Bitcoin.

320
00:25:45,891 --> 00:25:48,571
I was like, yeah, that's exactly how I think about it.

321
00:25:48,651 --> 00:25:51,851
That's when I realized if I want to watch this unfold,

322
00:25:52,351 --> 00:25:59,051
I need to stay alive basically until I can see that happen, right?

323
00:25:59,251 --> 00:26:01,471
And like you said about Sailor,

324
00:26:02,251 --> 00:26:04,231
this whole idea of waking up with cold sweats,

325
00:26:04,231 --> 00:26:06,991
and being like, oh shit, do I have enough Bitcoin?

326
00:26:07,131 --> 00:26:08,911
Or do you know the meme with the cat that says,

327
00:26:09,011 --> 00:26:11,291
no, I should have bought more Bitcoin.

328
00:26:12,191 --> 00:26:13,691
I mean, if you really think about it,

329
00:26:13,711 --> 00:26:16,111
and I've used this argument on five millionaires,

330
00:26:16,591 --> 00:26:18,531
there are 60 millionaires in the world.

331
00:26:18,631 --> 00:26:19,831
There's only 21 million Bitcoin,

332
00:26:20,091 --> 00:26:21,691
3 million, 4 million are lost.

333
00:26:21,951 --> 00:26:25,511
So I just ask millionaires, I come across,

334
00:26:25,511 --> 00:26:28,471
I say like, hey, do you have friends?

335
00:26:28,711 --> 00:26:30,391
Like I met a guy with a Porsche.

336
00:26:30,531 --> 00:26:31,531
I said, do you have friends with a Porsche?

337
00:26:31,691 --> 00:26:32,131
He's like, yeah.

338
00:26:32,231 --> 00:26:33,511
And then say, okay, when you meet,

339
00:26:33,511 --> 00:26:34,831
you're going to be like, oh, nice portion.

340
00:26:35,051 --> 00:26:36,731
They're going to be like, yeah, nice portion.

341
00:26:36,871 --> 00:26:40,711
And then I tell these guys, you have to say like, hey, do you have a Bitcoin?

342
00:26:41,131 --> 00:26:42,571
And then they say like, no, of course not.

343
00:26:42,631 --> 00:26:45,531
And then you should say, well, I have one Bitcoin.

344
00:26:45,871 --> 00:26:47,711
Do you know how many Bitcoin there are available in the world?

345
00:26:48,091 --> 00:26:51,711
Only like 17, maybe 18 million, probably less.

346
00:26:51,811 --> 00:26:53,831
And do you know how many millionaires there are in the world?

347
00:26:54,471 --> 00:26:58,071
And the first guy I told this looked at me and he was like, no.

348
00:26:58,131 --> 00:26:59,131
And I said, 60 million.

349
00:26:59,131 --> 00:27:06,791
and he was like whoa i need to buy i need to buy i need to buy bitcoin right and i think once you

350
00:27:06,791 --> 00:27:12,391
grasp that you know sometimes you see these pictures of like all the gold in the world

351
00:27:12,391 --> 00:27:25,651
is like this cube on a football field uh bitcoin is you know physically it is like infinitely small

352
00:27:25,651 --> 00:27:27,991
that's how big it is

353
00:27:27,991 --> 00:27:29,511
compared to gold if you want to like

354
00:27:29,511 --> 00:27:31,971
visualize it in the gold and

355
00:27:31,971 --> 00:27:33,911
Bitcoin way but the

356
00:27:33,911 --> 00:27:35,791
crazy part is that you know

357
00:27:35,791 --> 00:27:37,771
on X or whatever people replied

358
00:27:37,771 --> 00:27:39,831
to me like oh yeah my

359
00:27:39,831 --> 00:27:41,611
poop is also rare right

360
00:27:41,611 --> 00:27:42,651
but

361
00:27:42,651 --> 00:27:45,611
the point is

362
00:27:45,611 --> 00:27:49,791
the point is that

363
00:27:49,791 --> 00:27:51,991
a lot of things that

364
00:27:51,991 --> 00:27:53,971
are rare and scarce are not

365
00:27:53,971 --> 00:27:55,271
absolutely scarce

366
00:27:55,271 --> 00:27:57,671
they're not absolutely finite

367
00:27:57,671 --> 00:27:59,691
this is computer code and an incentive

368
00:27:59,691 --> 00:28:01,431
structure that actually

369
00:28:01,431 --> 00:28:03,831
is created to

370
00:28:03,831 --> 00:28:05,731
enforce

371
00:28:05,731 --> 00:28:07,531
a monetary protocol in a

372
00:28:07,531 --> 00:28:09,031
decentralized and digital

373
00:28:09,031 --> 00:28:11,651
way so even

374
00:28:11,651 --> 00:28:13,671
though your poop might be scarce too

375
00:28:13,671 --> 00:28:15,631
no one wants to store their wealth in

376
00:28:15,631 --> 00:28:17,711
your poop and your poop decays and whatever

377
00:28:17,711 --> 00:28:19,751
just like a home can also

378
00:28:19,751 --> 00:28:21,751
decay right and whiskey

379
00:28:21,751 --> 00:28:23,271
or sneakers even or whatever

380
00:28:23,271 --> 00:28:24,491
so

381
00:28:24,491 --> 00:28:28,371
the point is that once you see

382
00:28:28,371 --> 00:28:29,251
that scarcity

383
00:28:29,251 --> 00:28:32,511
and also understand that it's absolutely

384
00:28:32,511 --> 00:28:34,431
finite, absolutely scarce

385
00:28:34,431 --> 00:28:36,451
which is the only thing ever in the world

386
00:28:36,451 --> 00:28:38,331
that is absolutely scarce that can also

387
00:28:38,331 --> 00:28:40,451
function as a global decentralized neutral

388
00:28:40,451 --> 00:28:42,351
money with final settlement

389
00:28:42,351 --> 00:28:44,671
and then you understand

390
00:28:44,671 --> 00:28:45,091
that

391
00:28:45,091 --> 00:28:48,351
conceptually gold is scarce

392
00:28:48,351 --> 00:28:50,271
but it's absolutely

393
00:28:50,271 --> 00:28:52,391
infinite in the infiniteness

394
00:28:52,391 --> 00:29:02,151
of the universe, then you see, or could see, that Bitcoin is miles ahead, light years ahead of gold.

395
00:29:02,391 --> 00:29:09,871
Light years ahead of gold. On only this one characteristic being the scarcity, right?

396
00:29:10,331 --> 00:29:15,111
Because the main argument of people that say, well, gold has value because it's scarce, right?

397
00:29:16,171 --> 00:29:21,351
Okay, that's fine. Follow that reasoning. Anyone who's into gold, just follow that reasoning.

398
00:29:21,351 --> 00:29:29,211
Okay, there is a thing in the world that is absolutely finite that can function as a money better than gold.

399
00:29:29,731 --> 00:29:35,711
Okay, so, you know, you can dive into the gold versus Bitcoin thing for another hour.

400
00:29:35,911 --> 00:29:49,851
But to go back to the question you asked is, at one point, you're not going to be able to buy a Bitcoin or a 0.1 Bitcoin, right?

401
00:29:50,451 --> 00:29:51,511
Maybe even smaller.

402
00:29:51,631 --> 00:29:52,031
I don't know.

403
00:29:52,951 --> 00:29:57,491
Because like in history, people will figure out that the money is broken.

404
00:29:58,731 --> 00:30:04,111
A lot of people unknowingly or like unconsciously kind of know

405
00:30:04,111 --> 00:30:05,971
because they put it in real estate and stuff like that.

406
00:30:08,091 --> 00:30:12,591
But at one point, it will be so bad that they will flock to the best money

407
00:30:12,591 --> 00:30:16,631
like this has happened in history before.

408
00:30:16,631 --> 00:30:37,231
And we are so early because this new form of money is something that's digital. So in the minds of a lot of people, it can also be created infinitely, right? Like if I have a photo on my computer, I can copy and paste it an infinite amount of times and I can just put it on my computer and then put it on another computer.

409
00:30:37,231 --> 00:30:56,731
But there are these technologies that are working together in Bitcoin that actually create a bridge between the use of physical energy in the physical world to the creation of something digital in the digital realm, in cyberspace.

410
00:30:58,111 --> 00:31:02,651
But that thing is basically a one of one.

411
00:31:02,651 --> 00:31:11,451
So your part of a Bitcoin is unique and different than my part of a Bitcoin, if that makes sense.

412
00:31:12,071 --> 00:31:25,971
And so, you know, you have 21 million full Bitcoins, but they're all divisible by 100 million parts, which is the actual integral unit of a Bitcoin.

413
00:31:25,971 --> 00:31:32,971
So once you understand that there is that amount of units,

414
00:31:32,971 --> 00:31:36,971
but there's a fence around it that says, you know,

415
00:31:36,971 --> 00:31:49,342
you can you cannot make more of it If you want to you have to create the strongest computer network in the world Okay what does that mean What does that mean when there is something that is absolutely finite

416
00:31:50,122 --> 00:31:57,422
It's either stupid, right? It goes to zero. Or it's the most amazing technological

417
00:31:57,422 --> 00:32:06,682
advancement that we've ever, ever seen. And we could talk about what the result is of an absolute

418
00:32:06,682 --> 00:32:10,382
finite money, you know, and what that could bring.

419
00:32:10,482 --> 00:32:15,042
But at one point, you know, I think if you realize I need Bitcoin,

420
00:32:15,182 --> 00:32:18,162
I think you also realize that there is now a window,

421
00:32:18,522 --> 00:32:28,882
I think until 2033-ish, where the price is somewhat attainable.

422
00:32:29,262 --> 00:32:33,702
You know, if you use those 60 million millionaires,

423
00:32:33,702 --> 00:32:37,002
today, all of them cannot own a Bitcoin.

424
00:32:39,382 --> 00:32:42,862
This bull run, I'm looking for ways to stack Bitcoin in my sleep.

425
00:32:43,042 --> 00:32:45,082
And mining has always caught my eye.

426
00:32:45,382 --> 00:32:50,422
I've partnered with the guys over at Simple Mining to help you do just that.

427
00:32:50,422 --> 00:32:53,182
I don't recommend anything that I don't use personally.

428
00:32:53,622 --> 00:32:56,902
So I've got a machine up and running with them right this second.

429
00:32:57,162 --> 00:33:01,202
And they've even opened the facility up so anyone can go and visit.

430
00:33:01,922 --> 00:33:05,562
They manage over 15,000 machines for 500 clients,

431
00:33:05,662 --> 00:33:09,302
handling all of the maintenance and repairs so you don't have to.

432
00:33:09,662 --> 00:33:12,842
And for the Green Candle listeners, they're giving an exclusive offer,

433
00:33:13,222 --> 00:33:15,902
all the repairs for the first year for free.

434
00:33:15,902 --> 00:33:18,022
So if you've been thinking about mining,

435
00:33:18,262 --> 00:33:23,702
head on over to simplemining.io slash greencandle to get this exclusive offer

436
00:33:23,702 --> 00:33:29,442
and learn about the potential tax benefits that you can get from mining with Simple Mining.

437
00:33:29,702 --> 00:33:30,982
All right, enough from me.

438
00:33:31,202 --> 00:33:32,242
Let's get back to the show.

439
00:33:33,222 --> 00:33:35,422
33% of them cannot even own,

440
00:33:35,822 --> 00:33:40,142
or 66% of them cannot even own one Bitcoin.

441
00:33:41,222 --> 00:33:44,282
So let's say, what is the price now?

442
00:33:44,522 --> 00:33:46,222
92, 93K, right?

443
00:33:47,102 --> 00:33:49,022
Let's say you're a cash millionaire, 1 million.

444
00:33:49,022 --> 00:33:52,162
Are you going to put about 10% of your wealth

445
00:33:52,162 --> 00:33:55,102
into this magic internet coin?

446
00:33:55,102 --> 00:34:03,502
or trade or well exchange 110% of one form of money

447
00:34:03,502 --> 00:34:04,762
into another form of money.

448
00:34:04,862 --> 00:34:06,102
That's kind of how I see the price.

449
00:34:06,182 --> 00:34:07,722
It's not a price, it's an exchange rate.

450
00:34:09,202 --> 00:34:10,242
Are you going to do that?

451
00:34:10,262 --> 00:34:11,342
I think that's a hard decision.

452
00:34:12,342 --> 00:34:14,902
So even the people that are at that level of wealth

453
00:34:14,902 --> 00:34:18,002
cannot all get one Bitcoin.

454
00:34:20,102 --> 00:34:22,022
Percentage-wise from all their wealth,

455
00:34:22,022 --> 00:34:30,162
It's quite a difficult decision whether or not to buy, well, one Bitcoin.

456
00:34:30,362 --> 00:34:35,802
So they also have to put in the work, but they're also programmed in a way like we were all programmed about money, right?

457
00:34:35,862 --> 00:34:38,622
So that is where this asymmetric opportunity comes from.

458
00:34:38,702 --> 00:34:43,102
Like you don't have to be a millionaire or a multimillionaire to get into Bitcoin.

459
00:34:43,242 --> 00:34:46,942
You have to figure it out with your mind what this means.

460
00:34:46,942 --> 00:34:52,942
and that is where the asymmetrical opportunity comes from based on the publicly available

461
00:34:52,942 --> 00:34:58,622
information all this information is free we are talking here for free i learned everything about

462
00:34:58,622 --> 00:35:07,002
bitcoin for free okay and so that is that is just what it is so to this the summary for me is you

463
00:35:07,002 --> 00:35:11,422
have a huge problem today there is no pension for you there are no social benefits for you

464
00:35:11,422 --> 00:35:16,162
The money is mathematically assured to the base forever at an accelerating rate.

465
00:35:16,322 --> 00:35:18,142
So how do you plan for your future?

466
00:35:18,302 --> 00:35:26,382
Okay, you need to substitute the store of value function first of your money into another money or an asset.

467
00:35:26,882 --> 00:35:29,262
Check all the assets that you could use.

468
00:35:29,802 --> 00:35:32,222
Understand the characteristics and why they are important.

469
00:35:32,562 --> 00:35:34,342
Then put Bitcoin next to it.

470
00:35:34,842 --> 00:35:38,642
Understand what absolute digital scarcity means and the profoundness of it.

471
00:35:38,642 --> 00:35:41,842
and then figure out how you can get as much of it

472
00:35:41,842 --> 00:35:43,402
before you cannot ever buy it anymore.

473
00:35:43,522 --> 00:35:48,102
Probably in 2043 when 99% of all Bitcoin are mined

474
00:35:48,102 --> 00:35:51,802
and the last 1% is mined in the 107 years after,

475
00:35:51,922 --> 00:35:52,822
which is a rounding error.

476
00:35:53,262 --> 00:35:55,382
So you have eight years left.

477
00:35:56,222 --> 00:35:57,182
I love it.

478
00:35:57,502 --> 00:36:00,102
But yeah, I mean, another stat that I like to throw out

479
00:36:00,102 --> 00:36:02,442
because I use the 60 million millionaires stat

480
00:36:02,442 --> 00:36:03,622
all the time as well,

481
00:36:03,622 --> 00:36:05,122
is that if you look at like,

482
00:36:05,202 --> 00:36:06,462
I think it's BitInfo charts,

483
00:36:06,562 --> 00:36:07,522
I like to pull that up,

484
00:36:07,522 --> 00:36:11,622
but they've got all the distributions of the wallets.

485
00:36:11,762 --> 00:36:14,742
Right now, there's 49 million wallets

486
00:36:14,742 --> 00:36:18,362
that have $1 or more worth of Bitcoin right now.

487
00:36:18,362 --> 00:36:23,282
So that means that it's more rare to own $1 of Bitcoin in cold storage

488
00:36:23,282 --> 00:36:25,262
than it is to be a millionaire,

489
00:36:25,422 --> 00:36:28,622
which I think is just absolutely insane when you break it all down.

490
00:36:29,042 --> 00:36:30,942
But I mean, you lined out some of the things

491
00:36:30,942 --> 00:36:34,382
that a few people like misunderstand about this bet.

492
00:36:34,382 --> 00:36:41,782
But I'm curious because obviously, all the information is free and publicly available.

493
00:36:42,302 --> 00:36:50,422
But what is something that, I mean, all of these people that aren't in Bitcoin, what is the biggest thing that you think they misunderstand?

494
00:36:51,102 --> 00:36:58,162
And what is it going to take for them to, I guess, get over and kind of take that orange pill and join us here on the orange side?

495
00:36:58,862 --> 00:37:01,102
Well, it's funny because you say bet, right?

496
00:37:01,102 --> 00:37:06,222
I don't think Bitcoin is a bet, an investment, or a trade, right?

497
00:37:06,322 --> 00:37:09,962
A lot of people would say, well, it's a speculative thing, dude.

498
00:37:10,042 --> 00:37:11,002
Like, it's a speculative thing.

499
00:37:11,122 --> 00:37:11,642
It's digital.

500
00:37:11,782 --> 00:37:13,702
Like, what if the EMP comes?

501
00:37:13,742 --> 00:37:15,102
Or what if the sun blows up?

502
00:37:15,142 --> 00:37:19,962
Like, what if all the countries in the world coordinate to turn off the electricity or turn off the internet, right?

503
00:37:19,982 --> 00:37:24,762
Like, a lot of people are at what I call end-of-the-road counter-arguments to Bitcoin.

504
00:37:24,762 --> 00:37:30,642
Like, almost improbable scenarios.

505
00:37:31,102 --> 00:37:34,362
that they're using as their anti-argument.

506
00:37:34,462 --> 00:37:36,662
But I think one that I want to highlight is the,

507
00:37:36,982 --> 00:37:38,502
it's a speculative thing.

508
00:37:39,062 --> 00:37:41,282
I always say, dude, everything is speculative.

509
00:37:41,482 --> 00:37:42,862
Waking up in the morning is speculative

510
00:37:42,862 --> 00:37:44,582
because you might die, okay?

511
00:37:44,722 --> 00:37:46,882
And if you invest in Tesla,

512
00:37:47,342 --> 00:37:50,622
you speculate on the fact that Elon wakes up in the morning, right?

513
00:37:50,642 --> 00:37:54,462
What happens to Tesla when Elon is dead in the morning, right?

514
00:37:54,782 --> 00:37:57,202
Same for Steve Jobs, whatever, all that stuff.

515
00:37:57,202 --> 00:37:59,582
So everything in life is speculation.

516
00:37:59,582 --> 00:38:12,302
All the choices you make are speculating on a certain outcome that you hopefully are making in, you know, looking at in a conscious way before you make the decision.

517
00:38:12,762 --> 00:38:18,062
So, you know, stuff like that is just nonsense, in my opinion.

518
00:38:18,062 --> 00:38:39,322
I think what I just talked about is an objective and rational approach to the factual problem that everyone has, except the people that control us and that are in charge of the money, which is a way smaller group than us.

519
00:38:39,322 --> 00:38:48,362
when you look look at that look at it like that you cannot deny you have a problem

520
00:38:48,362 --> 00:38:55,702
and and that is why this is such a hard thing to grok just the understanding and the acceptance i

521
00:38:55,702 --> 00:39:02,342
would say even the integration of the fact that you have been bamboozled even at 30 even at 50

522
00:39:02,342 --> 00:39:08,362
even at 70 when you know i saw this video of a guy who retired in california and he bought a year

523
00:39:08,362 --> 00:39:10,662
a house 40 years ago when he was 30

524
00:39:10,662 --> 00:39:12,622
and he still lives there. Now he's

525
00:39:12,622 --> 00:39:14,382
retired at 70. He has to work to

526
00:39:14,382 --> 00:39:16,642
pay property taxes. And if he

527
00:39:16,642 --> 00:39:18,362
doesn't pay the property taxes, right,

528
00:39:19,202 --> 00:39:20,022
he gets evicted.

529
00:39:20,342 --> 00:39:22,382
Because the man with the gun comes and says, you know,

530
00:39:22,482 --> 00:39:23,922
this house isn't really yours.

531
00:39:24,502 --> 00:39:26,702
That stuff is happening. Dude, in Lebanon

532
00:39:26,702 --> 00:39:28,742
people rob banks, not to get

533
00:39:28,742 --> 00:39:30,682
other people's money, but to get their own

534
00:39:30,682 --> 00:39:32,022
money. Yeah.

535
00:39:32,762 --> 00:39:34,702
You know, and so for me, it's

536
00:39:34,702 --> 00:39:36,502
like when I come across these things

537
00:39:36,502 --> 00:39:38,022
that are factually true,

538
00:39:38,362 --> 00:39:43,042
And I realize, well, someone in Lebanon or Venezuela or Zimbabwe,

539
00:39:43,502 --> 00:39:47,222
where there's hyperinflation, Argentina, they all have the same money system.

540
00:39:47,462 --> 00:39:52,222
We are just, I'm lucky that I live in Europe, you know, like number two of the world.

541
00:39:52,222 --> 00:39:55,822
You're lucky to live in the US, number one of the world, you know.

542
00:39:56,542 --> 00:39:58,642
But they're all going in the same direction.

543
00:39:59,842 --> 00:40:04,362
Not like just Zimbabwe or Argentina a few decades ago,

544
00:40:04,362 --> 00:40:07,842
but also like many empires before us

545
00:40:07,842 --> 00:40:09,602
hundreds of years ago, right?

546
00:40:09,602 --> 00:40:10,522
Like this is nothing new.

547
00:40:10,582 --> 00:40:11,182
It's nothing new.

548
00:40:11,602 --> 00:40:16,342
So I think the first point is just accepting

549
00:40:16,342 --> 00:40:17,322
you have this problem.

550
00:40:17,562 --> 00:40:18,722
You are being bamboozled.

551
00:40:18,862 --> 00:40:19,862
Yeah, that's messed up.

552
00:40:20,022 --> 00:40:21,582
I know, really messed up.

553
00:40:21,642 --> 00:40:23,102
Okay, what does that mean?

554
00:40:23,342 --> 00:40:24,822
No one is coming to save you.

555
00:40:25,662 --> 00:40:27,262
You have to figure this out.

556
00:40:27,382 --> 00:40:29,242
You really have to figure this out

557
00:40:29,242 --> 00:40:31,082
or else this whole system

558
00:40:31,082 --> 00:40:33,622
where a small group of people

559
00:40:33,622 --> 00:40:40,142
know better than you will still control you will just perpetuate right and like i said when i

560
00:40:40,142 --> 00:40:46,142
visualized this idea that i could move from a fiat money system to a bitcoin system

561
00:40:46,142 --> 00:40:53,942
and really grogged what that meant they can come after me they can pull guns and whatever

562
00:40:53,942 --> 00:41:00,502
i can still have my my bitcoin and people will think that's crazy but i came to the conclusion

563
00:41:00,502 --> 00:41:02,222
That's basically the level where we're in.

564
00:41:03,282 --> 00:41:09,782
That is the level of the battle or the war or however you want to call it, I think, that we're in.

565
00:41:09,882 --> 00:41:12,622
And so why would you go into Bitcoin?

566
00:41:12,802 --> 00:41:21,782
Well, it's not only to preserve your own time and energy, but when you have children, what does your children's future look like?

567
00:41:30,502 --> 00:41:31,002
you

568
00:41:43,002 --> 00:41:49,082
why would you ever hold generational wealth on a piece of paper it doesn't make sense you need a

569
00:41:49,082 --> 00:41:55,502
foolproof solution and i've got it for you you could get this as low as 25 and if you use promo

570
00:41:55,502 --> 00:42:02,042
code green candle you can get 10 off being around for 12 years they've engineered the perfect and

571
00:42:02,042 --> 00:42:07,662
most easy to use solution i've partnered with crypto steel to offer for you guys just that

572
00:42:07,662 --> 00:42:13,622
it is the cheapest and most secure way to store your cphrase i don't know about you guys but i

573
00:42:13,622 --> 00:42:18,862
don't have too many things where i think one ton is going to fall on this but it could survive

574
00:42:18,862 --> 00:42:26,222
all of that and more so go to crypto steel.com you can use promo code green candle you can get

575
00:42:26,222 --> 00:42:33,762
10 off your entire order if you go there today so go ahead and protect your generational wealth

576
00:42:33,762 --> 00:42:41,562
and do it with crypto steel all right enough from me back to the show in a world where

577
00:42:41,562 --> 00:42:48,282
the money is useless like you see like you know even the pictures from venezuela where the money

578
00:42:48,282 --> 00:42:56,062
is on the street. People use it, you know, really light it up for fire. That system is no different

579
00:42:56,062 --> 00:43:04,842
than us. And that is, it is coming, I think. So what can you do about it? And I think the crazy

580
00:43:04,842 --> 00:43:11,882
realization that I had is that Bitcoin is a way to do that. It's wild. I didn't expect that up

581
00:43:11,882 --> 00:43:15,122
front. Like I said, I thought it was an investment. Oh, I'm going to get rich. I'm going to trade this

582
00:43:15,122 --> 00:43:18,722
or whatever, until I realized it's a new form of money

583
00:43:18,722 --> 00:43:27,942
that can actually protect me from the predatory abuse

584
00:43:27,942 --> 00:43:32,202
and theft of my time and energy by other people

585
00:43:32,202 --> 00:43:34,542
that I don't know, that don't know me.

586
00:43:35,702 --> 00:43:38,242
So why would I accept that, right?

587
00:43:38,302 --> 00:43:41,062
So I think this is a huge battle

588
00:43:41,062 --> 00:43:43,662
and it's going to take a very long time.

589
00:43:43,662 --> 00:43:45,522
and so I hope

590
00:43:45,522 --> 00:43:48,562
I will see interesting things

591
00:43:48,562 --> 00:43:50,402
in my life but I think Bitcoin

592
00:43:50,402 --> 00:43:52,342
is more for the kids

593
00:43:52,342 --> 00:43:54,842
what does their future look like

594
00:43:54,842 --> 00:43:55,842
when the money is useless

595
00:43:55,842 --> 00:43:58,502
when some of these technocratic people

596
00:43:58,502 --> 00:44:00,242
are going to be like well you should have a CBDC

597
00:44:00,242 --> 00:44:01,962
and scan your face or your hand

598
00:44:01,962 --> 00:44:03,462
or you know like okay

599
00:44:03,462 --> 00:44:06,382
is that what you want to give to

600
00:44:06,382 --> 00:44:07,142
your kids

601
00:44:07,142 --> 00:44:09,782
I don't want to do that so

602
00:44:09,782 --> 00:44:11,662
I'm trying something

603
00:44:11,662 --> 00:44:18,682
first for myself and for my kids and then you know just trying to tell uh other other people

604
00:44:18,682 --> 00:44:24,022
about what what i've discovered if they buy bitcoin or not i don't really care to be honest

605
00:44:24,022 --> 00:44:30,002
yeah and you're you're describing like a structural shift it seems right like it kind

606
00:44:30,002 --> 00:44:35,382
of expanding your time horizon and if this is the case right i mean which i think a lot of us

607
00:44:35,382 --> 00:44:40,902
listening here seem to believe or coming to that conclusion a lot of the financial advisors even

608
00:44:40,902 --> 00:44:46,342
though there's the ETFs, they're still building a lot of, I guess, like, you know, financial based

609
00:44:46,342 --> 00:44:52,082
tools on top of Bitcoin and not really just going straight into Bitcoin to the asset. So, you know,

610
00:44:52,082 --> 00:44:56,842
why do you think the professional class hasn't really figured this out yet, especially, you know,

611
00:44:57,202 --> 00:45:02,982
with your former banking experience, right? I mean, as a former finance bro,

612
00:45:03,462 --> 00:45:06,642
why do you think the other ones hadn't figured it out yet?

613
00:45:06,642 --> 00:45:13,922
well i was never really a finance finance bro but um i'm kidding i think it's because it's

614
00:45:13,922 --> 00:45:19,042
bad man no no of course you should make it youtube titles like former banker no

615
00:45:20,002 --> 00:45:29,842
oh no um i think it's a great question um it also seems like a very simplistic question i would say

616
00:45:29,842 --> 00:45:32,422
but that's only, I'm only saying that when,

617
00:45:32,422 --> 00:45:34,702
because I can look back, right?

618
00:45:34,702 --> 00:45:36,482
Because like I just said,

619
00:45:36,482 --> 00:45:39,022
I just think this is a very logical

620
00:45:39,022 --> 00:45:40,402
and rational conclusion.

621
00:45:40,402 --> 00:45:44,902
I think every other way

622
00:45:44,902 --> 00:45:49,522
that I could store my time and energy over,

623
00:45:49,522 --> 00:45:52,062
or well, store my wealth over time and space

624
00:45:52,062 --> 00:45:55,042
is inferior, right?

625
00:45:55,162 --> 00:45:56,202
So when someone says,

626
00:45:56,382 --> 00:45:57,822
when are you going to sell Bitcoin?

627
00:45:58,082 --> 00:45:59,322
Say, sell for what?

628
00:45:59,322 --> 00:46:02,782
Like everything is inferior to this asset.

629
00:46:03,722 --> 00:46:08,242
And I think people are kind of distracted when, you know,

630
00:46:08,302 --> 00:46:10,602
when I say something like this, people are going to be like, yeah, sure.

631
00:46:10,762 --> 00:46:13,842
Yeah, that's what I would say because you have Bitcoin.

632
00:46:14,442 --> 00:46:15,962
You know, that's all fine.

633
00:46:16,042 --> 00:46:18,602
You have to think for yourself.

634
00:46:19,302 --> 00:46:23,962
And I think that's the hard loop because you have to get to a point

635
00:46:23,962 --> 00:46:28,362
where you realize that quite a big amount of your time,

636
00:46:28,362 --> 00:46:33,482
you haven't really of your life you haven't really fought for yourself you're just following certain

637
00:46:33,482 --> 00:46:38,922
structures that are there certain things that people do because well other other people do them

638
00:46:39,802 --> 00:46:50,602
right and i think that is why it is just it is just hard to see the fact that you can voluntarily

639
00:46:50,602 --> 00:46:57,802
come up, like, could you voluntarily come up with the random thought of, is there a centralized

640
00:46:57,802 --> 00:47:06,222
group of people that are debasing the money I'm forced to use in this country I was randomly

641
00:47:06,222 --> 00:47:15,302
born in to siphon away my time and energy that I give away in a finite way, right?

642
00:47:15,302 --> 00:47:16,502
Once you spend it, it's gone.

643
00:47:18,242 --> 00:47:22,022
And yeah, how do I feel about that?

644
00:47:22,182 --> 00:47:26,382
You know, no one is randomly sitting on their couch and being like, wow, this is a fun thing

645
00:47:26,382 --> 00:47:28,302
I'm gonna, I'm gonna think about.

646
00:47:28,302 --> 00:47:45,973
So I think it also it feels like a very distant thing Like no that could never be right Inflation is a natural phenomenon right it a beast that came from nowhere like christine lagarde of the ecb says right it all nonsense it it it it um it just not true and and you being bamboozled

647
00:47:45,973 --> 00:47:53,493
again like it i think that is just effect but waking up to that is probably the hardest thing

648
00:47:53,493 --> 00:47:56,013
because once you wake up to that,

649
00:47:56,113 --> 00:47:58,193
you have this red-blue pill moment, right?

650
00:47:58,293 --> 00:48:00,573
And some people would take a blue pill,

651
00:48:00,933 --> 00:48:04,253
like the guy in the matrix that betrays the group with NIO

652
00:48:04,253 --> 00:48:05,833
and says, well, I'm going to eat the steak.

653
00:48:05,933 --> 00:48:08,033
I know the steak is fake, but I love the steak.

654
00:48:08,113 --> 00:48:10,133
I'm just going to go back in the matrix, although it's fake.

655
00:48:10,193 --> 00:48:10,893
I don't really care.

656
00:48:11,593 --> 00:48:12,733
Those people are also there.

657
00:48:13,773 --> 00:48:14,753
So that's fine.

658
00:48:15,373 --> 00:48:17,073
Those people are always there.

659
00:48:17,993 --> 00:48:20,073
So Bitcoin is for everyone, but not...

660
00:48:20,073 --> 00:48:24,633
well, for anyone, but not everyone will get it.

661
00:48:25,373 --> 00:48:26,433
And that's okay.

662
00:48:27,033 --> 00:48:33,973
And I think it is probably harder when you are a finance broker,

663
00:48:34,093 --> 00:48:38,373
when you are into finance, because your entire education

664
00:48:38,373 --> 00:48:41,733
and your current working life and the way you provide for your family

665
00:48:41,733 --> 00:48:44,713
is all depending on the fact that you don't figure out

666
00:48:44,713 --> 00:48:48,833
that you're participating in what is basically a Ponzi scheme.

667
00:48:50,073 --> 00:49:06,333
Yeah, and I mean, it seems to be the case. And, you know, what I think is interesting, too, is that now they're starting to see, hey, they've been getting their butts whipped by all the Bitcoin guys out here who just essentially bought Bitcoin, put it in cold storage and forgot about it for years.

668
00:49:07,313 --> 00:49:09,993
So I think it is interesting that we're seeing this shift,

669
00:49:10,173 --> 00:49:13,653
but I honestly don't even think it's really here yet

670
00:49:13,653 --> 00:49:17,353
just because of what I lined out with all of the wallets

671
00:49:17,353 --> 00:49:19,033
just having less than $1,

672
00:49:19,813 --> 00:49:22,513
Bitcoin being less than the amount of millionaires.

673
00:49:22,693 --> 00:49:24,913
Of course, they're looking at ETFs and all these other things.

674
00:49:25,073 --> 00:49:29,593
But one thing that I think I really like the way that you put

675
00:49:29,593 --> 00:49:31,633
is your long time preference.

676
00:49:32,313 --> 00:49:35,693
Now, I want you to dive in kind of that shift

677
00:49:35,693 --> 00:49:36,693
that you made for yourself?

678
00:49:36,693 --> 00:49:38,733
Because I think the fiat mindset is more,

679
00:49:39,113 --> 00:49:42,693
hey, we need to make sure that this is looking good now

680
00:49:42,693 --> 00:49:44,553
or the next day,

681
00:49:44,733 --> 00:49:47,513
or we need to make sure that the market's looking good

682
00:49:47,513 --> 00:49:50,973
by mid-time this year because midterm elections are around.

683
00:49:51,653 --> 00:49:53,713
So how do we move that shift

684
00:49:53,713 --> 00:49:57,653
from essentially just these short burst cycles

685
00:49:57,653 --> 00:50:00,593
into more of like a longer time horizon?

686
00:50:00,773 --> 00:50:02,593
And will this eventually change

687
00:50:02,593 --> 00:50:06,373
where there won't be the coveted four-year cycles of Bitcoin

688
00:50:06,373 --> 00:50:10,613
and it'll just be kind of, I guess, up and to the right in a sense?

689
00:50:13,013 --> 00:50:14,213
Big question.

690
00:50:14,413 --> 00:50:18,653
I think the four-year cycle is dead in general.

691
00:50:18,653 --> 00:50:22,813
I think up until now, the halving did matter.

692
00:50:25,733 --> 00:50:26,653
I don't know if...

693
00:50:27,613 --> 00:50:31,513
It would have been hard for Satoshi

694
00:50:31,513 --> 00:50:36,693
to figure out, okay, it's going to take these X amount of years

695
00:50:36,693 --> 00:50:40,493
and, you know, like let's say 12 years, 12 and a half,

696
00:50:40,713 --> 00:50:44,833
well, like 14, 15 years for Bitcoin to actually,

697
00:50:46,033 --> 00:50:49,273
well, basically be adopted to a certain degree

698
00:50:49,273 --> 00:50:53,773
where everything we're talking about in this conversation

699
00:50:53,773 --> 00:50:56,453
becomes clear to more and more people, right?

700
00:50:56,453 --> 00:50:59,553
so the

701
00:50:59,553 --> 00:51:02,233
the halving is just

702
00:51:02,233 --> 00:51:04,473
it's basically just a technical

703
00:51:04,473 --> 00:51:06,193
thing that

704
00:51:06,193 --> 00:51:08,513
obviously had impact

705
00:51:08,513 --> 00:51:10,473
but now I think the change

706
00:51:10,473 --> 00:51:12,253
of the block reward

707
00:51:12,253 --> 00:51:13,553
compared to

708
00:51:13,553 --> 00:51:16,393
the amount

709
00:51:16,393 --> 00:51:16,913
of

710
00:51:16,913 --> 00:51:20,273
wealth that is stored in Bitcoin

711
00:51:20,273 --> 00:51:22,073
is kind of

712
00:51:22,073 --> 00:51:24,453
moving apart from each other in a sense

713
00:51:24,453 --> 00:51:25,233
that the

714
00:51:25,233 --> 00:51:35,853
The halving has less effect to the downside, I would say, and more effect in a negative way and more effect to the upside in a positive way.

715
00:51:35,853 --> 00:51:49,973
Because if organically and logically more and more people figure out that the fiat money debasement is mathematically assured and they need to find a way to store their wealth, like we've been talking about for 45 minutes.

716
00:51:49,973 --> 00:51:55,633
And yeah, if you follow a rational approach, you end up with Bitcoin.

717
00:51:55,833 --> 00:51:58,513
Okay, so if more and more people end up with Bitcoin,

718
00:51:59,373 --> 00:52:00,913
but there's less and less Bitcoin available,

719
00:52:01,333 --> 00:52:03,593
then yeah, of course, with an absolute finance supply,

720
00:52:03,733 --> 00:52:06,153
the price goes up.

721
00:52:06,153 --> 00:52:09,233
And I think even in, let's say, 14 years,

722
00:52:09,513 --> 00:52:16,433
Bitcoin has gone faster than other new technological innovations.

723
00:52:16,733 --> 00:52:19,153
So I'd say it's right on track.

724
00:52:19,973 --> 00:52:23,693
And in general, I'm not a price guy.

725
00:52:23,793 --> 00:52:25,733
I'm not a chart guy or whatever.

726
00:52:25,993 --> 00:52:30,053
So I don't really follow like liquidity cycles and stuff like that.

727
00:52:30,173 --> 00:52:32,933
But what I have seen is that currently,

728
00:52:33,613 --> 00:52:37,533
I think we have been in a very long kind of like consolidation,

729
00:52:38,233 --> 00:52:42,213
well, like bearish consolidation phase.

730
00:52:44,713 --> 00:52:47,833
And there's a lot of things that are happening this year

731
00:52:47,833 --> 00:52:50,713
that especially in the US,

732
00:52:51,373 --> 00:52:55,553
yeah, could show the incentives

733
00:52:55,553 --> 00:52:57,233
for the current administration

734
00:52:57,233 --> 00:53:00,673
to actually adopt Bitcoin.

735
00:53:00,953 --> 00:53:02,353
And that has to do with,

736
00:53:02,433 --> 00:53:03,293
well, like you said,

737
00:53:03,793 --> 00:53:05,613
well, not, well, the midterms,

738
00:53:05,833 --> 00:53:07,013
yeah, because that just happens.

739
00:53:07,013 --> 00:53:11,873
But why is Bitcoin important for the US?

740
00:53:11,993 --> 00:53:12,853
Well, they have a debt

741
00:53:12,853 --> 00:53:14,553
that they can never repay.

742
00:53:15,253 --> 00:53:16,313
And there are still people

743
00:53:16,313 --> 00:53:17,593
that are buying that debt

744
00:53:17,593 --> 00:53:26,753
because those people are still enchanted by risk-free rate of government bonds.

745
00:53:29,593 --> 00:53:35,573
So there are still some fools that are still buying sovereign debt.

746
00:53:36,493 --> 00:53:38,013
But that is drying up.

747
00:53:38,133 --> 00:53:41,693
And there are different, well, the BRICS block, China, etc.

748
00:53:41,693 --> 00:53:43,653
They are aware of this fact.

749
00:53:43,793 --> 00:53:45,353
And again, this is nothing new.

750
00:53:45,613 --> 00:53:47,133
Like in history, this has also happened.

751
00:53:47,133 --> 00:53:48,973
many, many times before, right?

752
00:53:49,053 --> 00:53:53,413
So what is an opt-out for America?

753
00:53:53,413 --> 00:53:56,893
I learned this yesterday from Peter Dunworth.

754
00:53:57,893 --> 00:54:06,113
What is an opt-out for America that would be politically approved

755
00:54:06,113 --> 00:54:11,873
and which would not result in infinite money printing

756
00:54:11,873 --> 00:54:14,293
to nominally pay back the debt

757
00:54:14,293 --> 00:54:18,373
and infinite money printing would eventually result

758
00:54:18,373 --> 00:54:21,373
in extreme currency debasement, right?

759
00:54:21,473 --> 00:54:25,013
And affect just normal citizens and their homes

760
00:54:25,013 --> 00:54:26,793
and pensions and all that stuff.

761
00:54:29,033 --> 00:54:30,513
In the beginning of this year,

762
00:54:30,573 --> 00:54:33,673
I think they have to refinance,

763
00:54:33,873 --> 00:54:35,493
I don't know, you probably have that number,

764
00:54:35,633 --> 00:54:38,513
but a lot of trillions of the debt, right?

765
00:54:38,513 --> 00:54:41,953
So there's this clock that's ticking in that way.

766
00:54:42,053 --> 00:54:43,293
There's a political clock ticking.

767
00:54:43,293 --> 00:54:48,813
And so Peter Dunworth explained to me, well, if you would introduce BitBonds, right?

768
00:54:48,893 --> 00:54:52,213
So why does Bitcoin's value go up over time?

769
00:54:52,233 --> 00:54:55,533
I think it's important to highlight.

770
00:54:56,033 --> 00:55:02,833
Well, if more and more people organically figure out they need a superior way to store their wealth.

771
00:55:04,373 --> 00:55:10,033
By the way, when you do it in Bitcoin, you also store it in a medium of exchange.

772
00:55:10,033 --> 00:55:13,613
but I think the medium of exchange function comes after people figuring out

773
00:55:13,613 --> 00:55:14,993
there's a store value function, right?

774
00:55:15,013 --> 00:55:20,593
Because why would I want to receive a Bitcoin in a value exchange

775
00:55:20,593 --> 00:55:23,653
if I don't understand that I can actually save in it, right?

776
00:55:23,673 --> 00:55:25,773
So I think the saving comes before the medium of exchange.

777
00:55:26,553 --> 00:55:29,393
So if more and more people organically,

778
00:55:30,053 --> 00:55:33,133
and I think at an accelerating rate,

779
00:55:33,253 --> 00:55:36,013
like the money is being debased at an accelerating rate,

780
00:55:36,453 --> 00:55:38,013
figure out that the money is broken,

781
00:55:38,013 --> 00:55:40,593
They need a better asset to store their wealth.

782
00:55:41,733 --> 00:55:45,353
Bitcoin is something that governments cannot print more of, right?

783
00:55:45,833 --> 00:55:47,453
More and more people will find Bitcoin.

784
00:55:47,833 --> 00:55:51,473
But when you look at the hollow waves, right, like how long Bitcoin has been held,

785
00:55:52,013 --> 00:55:57,773
I think if you look at two years and longer, we're at like 58, maybe even above 60%.

786
00:55:57,773 --> 00:56:02,073
And all those people already understand what we're talking about in this conversation.

787
00:56:03,653 --> 00:56:06,893
So this also adds into the asymmetric opportunity for me,

788
00:56:06,893 --> 00:56:10,293
is that there are already not a lot,

789
00:56:10,433 --> 00:56:13,513
but enough people that already understand what this is

790
00:56:13,513 --> 00:56:14,833
and they're not selling, right?

791
00:56:14,873 --> 00:56:15,733
Like sell for what?

792
00:56:16,373 --> 00:56:18,493
So if more and more people figure this out

793
00:56:18,493 --> 00:56:20,413
and there's less and less Bitcoin available,

794
00:56:20,413 --> 00:56:23,113
what happens to the price of Bitcoin, right?

795
00:56:23,153 --> 00:56:24,253
It goes up, it's very basic.

796
00:56:25,253 --> 00:56:27,553
So that will be my price prediction.

797
00:56:27,973 --> 00:56:30,573
So this is where, this direction I think we're going.

798
00:56:31,813 --> 00:56:34,573
And it's funny because I think over time,

799
00:56:34,573 --> 00:56:36,973
kind of my idea around this shifted,

800
00:56:37,293 --> 00:56:40,213
also connected to my attention to this.

801
00:56:40,613 --> 00:56:43,053
But I still think there's going to be an inflection point.

802
00:56:44,073 --> 00:56:47,073
There's going to be a game theoretical inflection point

803
00:56:47,073 --> 00:56:51,813
where the interest in Bitcoin or the need for Bitcoin,

804
00:56:52,033 --> 00:56:54,313
whether it's voluntarily or forced, right?

805
00:56:54,353 --> 00:56:55,713
If the US comes out with,

806
00:56:55,813 --> 00:56:57,473
oh, well, we have 600,000 Bitcoin,

807
00:56:58,493 --> 00:56:59,893
China also has to do something

808
00:56:59,893 --> 00:57:01,473
and Russia also has to do something

809
00:57:01,473 --> 00:57:04,533
and countries in the EU also have to do something.

810
00:57:04,573 --> 00:57:10,373
If Bitcoin is the new gold, they all have to do something even when they hate Bitcoin or don't understand it.

811
00:57:11,453 --> 00:57:21,113
So that's what I mean with there's an involuntary growth of the need for Bitcoin and an involuntary growth for the need of Bitcoin.

812
00:57:21,293 --> 00:57:27,153
And eventually this is still the same idea I've had years ago.

813
00:57:27,253 --> 00:57:28,953
There's going to be an inflection point, I think.

814
00:57:28,953 --> 00:57:33,913
There has to be on an absolute finite asset.

815
00:57:34,593 --> 00:57:45,593
There has to be an inflection point where demand is way bigger than the supply and basic economics says price number go up.

816
00:57:45,773 --> 00:57:45,853
Right.

817
00:57:46,693 --> 00:57:47,933
Yeah, exactly. Right.

818
00:57:47,953 --> 00:57:50,953
I mean, it's the simplest lesson in economics, right?

819
00:57:50,993 --> 00:57:53,233
Supply and demand when it really comes down to it.

820
00:57:53,233 --> 00:57:59,273
But I got to, you know, I mean, you have this 30 year time horizon that you've talked about before.

821
00:58:00,413 --> 00:58:03,793
What would need to happen for that to you?

822
00:58:03,913 --> 00:58:05,273
We sit here 30 years.

823
00:58:05,353 --> 00:58:06,853
We're having this same conversation.

824
00:58:07,313 --> 00:58:12,033
What would need to go wrong where all of us sitting here would be like, all right, what the hell happened?

825
00:58:12,093 --> 00:58:13,993
We were so sure about this Bitcoin thing.

826
00:58:14,013 --> 00:58:16,373
And now we're sitting here 30 years later and we were wrong.

827
00:58:16,373 --> 00:58:23,533
What do you think is something that I guess you, maybe you don't foresee, but would be something that would make you change your thesis?

828
00:58:25,773 --> 00:58:28,053
I think it's more the complacency of people.

829
00:58:28,853 --> 00:58:33,713
So, you know, there's a classic, you know, there's a classic Bitcoin meme that says Bitcoin is inevitable.

830
00:58:33,713 --> 00:58:43,853
And I used to say it a lot of the times because I thought, you know, all the other people in the world are rational, illogical, and they will also figure this out.

831
00:58:43,853 --> 00:58:45,673
And that's why I'm waking up with sweats.

832
00:58:46,813 --> 00:58:48,553
That's why sailors are waking up with sweats.

833
00:58:50,573 --> 00:58:51,833
But that's not the case.

834
00:58:52,233 --> 00:58:53,853
A lot of people need...

835
00:58:55,373 --> 00:58:59,013
I don't want to say a push, but they need education,

836
00:58:59,133 --> 00:59:01,333
just like you and I needed education.

837
00:59:01,793 --> 00:59:08,673
And I think the idea of Bitcoin actually making your outlook on the future

838
00:59:08,673 --> 00:59:10,873
be more positive and bringing you hope

839
00:59:10,873 --> 00:59:15,273
is something that I think a lot of people that see Bitcoin

840
00:59:15,273 --> 00:59:16,713
also would wish for other people,

841
00:59:16,813 --> 00:59:20,713
but these other people are not going to figure it out at the same rate.

842
00:59:21,413 --> 00:59:23,593
So when you say like Bitcoin is inevitable,

843
00:59:23,993 --> 00:59:26,213
it's just going to happen whether you like it or not,

844
00:59:27,013 --> 00:59:28,253
I think it's partially true

845
00:59:28,253 --> 00:59:30,293
because the people that should understand,

846
00:59:31,473 --> 00:59:32,973
like the finance bros,

847
00:59:33,493 --> 00:59:34,913
eventually some will figure it out.

848
00:59:34,913 --> 00:59:37,293
The biggest finance bro in the world has figured it out, right?

849
00:59:37,353 --> 00:59:38,513
Like Larry Fink has figured it out.

850
00:59:38,513 --> 00:59:44,833
So I think that's also something that creates a sense of urgency.

851
00:59:45,073 --> 00:59:50,493
But Bitcoin is not inevitable in the sense that when you are into Bitcoin and you just think,

852
00:59:50,573 --> 00:59:53,273
well, it's going to happen, I'm not going to contribute to it.

853
00:59:55,473 --> 00:59:57,313
Now, that's fine if you don't want to do it.

854
00:59:57,373 --> 00:59:59,053
But I do think it is necessary.

855
00:59:59,293 --> 01:00:01,633
Bitcoin is in that sense not inevitable, right?

856
01:00:01,653 --> 01:00:04,013
We need to educate our children.

857
01:00:04,173 --> 01:00:05,393
We need to educate our family.

858
01:00:05,393 --> 01:00:16,833
We need to educate our friends, not only on Bitcoin, but on the characteristics of what apparently, as I learned later in my life, is a better form of money.

859
01:00:16,953 --> 01:00:18,033
What does that mean?

860
01:00:18,133 --> 01:00:19,493
What are the characteristics of that?

861
01:00:19,953 --> 01:00:29,353
So I think that's very important also for the thing that happened to gold not to happen to Bitcoin.

862
01:00:30,533 --> 01:00:33,013
Gold was so good at money that it got replaced.

863
01:00:33,013 --> 01:00:40,713
so if you if you want to make sure that doesn't happen with bitcoin you you shouldn't stop talking

864
01:00:40,713 --> 01:00:47,493
about bitcoin and uh that's uh that well that's at least what i'm trying to to do and and every

865
01:00:47,493 --> 01:00:53,433
time i get a reply on like youtube or spotify that says like oh you really helped me to to see it i

866
01:00:53,433 --> 01:00:57,013
just post it on x and i say don't stop talking about bitcoin like i think you shouldn't stop

867
01:00:57,013 --> 01:01:03,793
talking about uh about about um about bitcoin so what i think could be wrong is the could go wrong

868
01:01:03,793 --> 01:01:07,773
is the is the just the complacency just thinking like oh yeah it is going to happen people are

869
01:01:07,773 --> 01:01:14,393
going to figure it out like like i said i had a i had tour de maester on it's like a bitcoin og i

870
01:01:14,393 --> 01:01:19,973
had him on my podcast and he used the word war for the first time right and that's it's not a nice

871
01:01:19,973 --> 01:01:26,333
word to say or hear you know people have all these ideas with the word war but i do agree

872
01:01:26,333 --> 01:01:32,553
like i like i kind of touched upon before this is a huge battle like the battle for the technology

873
01:01:32,553 --> 01:01:36,513
of money in the world is probably the biggest technological battle that you could participate

874
01:01:36,513 --> 01:01:41,733
in and it's not going to happen just because you figured it out and think other people also figure

875
01:01:41,733 --> 01:01:49,473
it out i i really think you need to contribute to it if if you really want to see that um see

876
01:01:49,473 --> 01:01:55,513
something change and and and see your you know visualize your kids in a better future than yours

877
01:01:55,513 --> 01:02:05,333
which is the entire goal uh or which has been the entire goal for all of humanity right and um yeah

878
01:02:05,333 --> 01:02:12,113
i i think uh you have to contribute to that i i feel called and invited to contribute to that so

879
01:02:12,113 --> 01:02:16,793
that's what i'm i'm trying and i i think uh that that is probably the biggest threat just people

880
01:02:16,793 --> 01:02:21,993
being complacent to that yeah man and you're doing a great job so i always love the the contribution

881
01:02:21,993 --> 01:02:26,233
you're doing and it's always a pleasure to see i know i saw you on answer damn i'm sure you'll be

882
01:02:26,233 --> 01:02:31,293
around at a lot of these conferences and meetups all around the world this year as well but for

883
01:02:31,293 --> 01:02:35,873
those of you who don't know about bram where can they find you and listen to some of the great

884
01:02:35,873 --> 01:02:42,153
stuff you're putting out yeah so the podcast is called bitcoin for millennials uh you can find

885
01:02:42,153 --> 01:02:47,053
that on Spotify, Apple, everywhere. You can find it on YouTube. You can search for Bitcoin Bram,

886
01:02:47,473 --> 01:02:55,713
B-R-A-M on YouTube. And I'm mainly active on X, at Bram K, B-R-A-M-K. And also on Noster,

887
01:02:55,833 --> 01:02:59,733
you can search for my username and there's a profile there too.

888
01:03:00,413 --> 01:03:03,433
There we go. I'll put that all in the show notes. So Bram, thanks so much.

889
01:03:03,733 --> 01:03:05,273
And yeah, man, keep it up.

890
01:03:06,093 --> 01:03:06,853
Will do. You too.

891
01:03:06,993 --> 01:03:11,693
Thank you guys all for tuning into another great episode of the State of Bitcoin podcast.

892
01:03:12,093 --> 01:03:13,333
If you found some value in this one,

893
01:03:13,433 --> 01:03:16,053
please hit that subscribe button and that like button

894
01:03:16,053 --> 01:03:17,453
to help send this one to the masses.

895
01:03:17,673 --> 01:03:18,973
And I've got a surprise for you guys.

896
01:03:19,073 --> 01:03:20,293
I've got two more episodes

897
01:03:20,293 --> 01:03:22,313
that you have the chance to watch here.

898
01:03:22,453 --> 01:03:23,553
So go ahead and click one of them

899
01:03:23,553 --> 01:03:25,313
and I'll see you guys all at the next one.