1 00:00:00,000 --> 00:00:03,840 They're constantly asking this question, when is Bitcoin going to go up? 2 00:00:04,160 --> 00:00:07,780 Buy a whole bunch that can free me enough, but I'm not in it anymore. 3 00:00:08,480 --> 00:00:09,160 I'm still in it. 4 00:00:09,460 --> 00:00:13,480 But I'm curious how you see this projecting out into the future. 5 00:00:14,200 --> 00:00:17,340 Which destroys all of the other models. 6 00:00:18,800 --> 00:00:23,120 And an asset within a control system would have to be captured eventually. 7 00:00:23,640 --> 00:00:28,980 Most people are pricing Bitcoin as an asset when the opposite is true. 8 00:00:28,980 --> 00:00:33,740 Most people are pricing Bitcoin as an asset within a control system, right? 9 00:00:34,240 --> 00:00:39,000 And that asset within a control system would have to be captured eventually 10 00:00:39,000 --> 00:00:40,500 if that was a good case. 11 00:00:40,640 --> 00:00:43,440 Just like gold was captured, just like everything was captured 12 00:00:43,440 --> 00:00:46,420 inside a control system where prices go up forever. 13 00:00:50,820 --> 00:00:51,720 What's up, guys? 14 00:00:51,860 --> 00:00:54,520 70,000 of you guys keep coming back every single month, 15 00:00:54,600 --> 00:00:56,620 but 71% are not subscribed. 16 00:00:56,620 --> 00:00:59,580 So you're going to miss out on some of the great green candle content. 17 00:00:59,920 --> 00:01:06,080 So make sure that you're hitting that subscribe button with the bell notification so you get notified every time I drop a video. 18 00:01:06,620 --> 00:01:09,020 All right, now let's get back into this great interview. 19 00:01:10,060 --> 00:01:19,760 Bing bong! I am back with another edition of the State of Bitcoin podcast where I've got the man, the myth, the legend, recurring guest Jeff Booth in the house. 20 00:01:19,760 --> 00:01:27,100 But Jeff, we've got a lot of craziness going on in the overall world with AI colliding heavily with Bitcoin. 21 00:01:27,380 --> 00:01:36,040 And all up until we've got Uptober here in a couple days with a lot to look forward to in the next couple of months. 22 00:01:36,580 --> 00:01:43,060 But Jeff, I want to start it off here really quick because a lot of people are talking about the potential of the price action, 23 00:01:43,160 --> 00:01:47,880 the Bitcoin strategic reserve, and how we're seeing the mix of these two technologies. 24 00:01:47,880 --> 00:02:00,360 Now, with Bitcoin just being that finite, scarce asset, how do you see this playing out over time with essentially all of these treasury companies coming on? 25 00:02:00,960 --> 00:02:08,280 Do you see the potential of this thing really taking off in the next few months with the amount of adoption we're seeing? 26 00:02:08,380 --> 00:02:14,840 Is this the suddenly aspect where we're going to see that hockey stick type of movement here right now? 27 00:02:14,840 --> 00:02:35,240 So just the question alone. So if you're talking price action within the US context, potentially, I don't look at it that way. And I think you know that, right? I keep coming back to people are mismeasuring this and completely mismeasuring this. 28 00:02:35,240 --> 00:03:01,600 The natural state of the free market is deflation. A decentralized secure protocol bounded by energy is measuring exactly what I just described. That protocol is measuring all prices falling forever. So your Bitcoin is increasing in value versus other things instead of in a piece of paper measuring other things. 29 00:03:01,600 --> 00:03:09,940 and so when you when you and and it could look the same to both uh to both people but but think 30 00:03:09,940 --> 00:03:15,000 about what the majority of even bitcoiners are doing and your question and impose it actually 31 00:03:15,000 --> 00:03:22,360 says at its root most people are pricing bitcoin as an asset within a control system 32 00:03:22,360 --> 00:03:30,420 right and that asset within a control system would have to be captured eventually if that was 33 00:03:30,420 --> 00:03:35,700 a good case just like gold was captured just like everything's been captured inside a control system 34 00:03:35,700 --> 00:03:44,820 where prices go up forever right so the the what you're saying inside of that it is is i believe 35 00:03:44,820 --> 00:03:51,700 in i'm going to get rich inside this control system by holding bitcoin and measuring it from 36 00:03:51,700 --> 00:03:57,460 the perspective of the control system say the us dollar right and that might be true for a while 37 00:03:57,460 --> 00:04:02,380 Well, you could coexist in that, but it's incompatible with the free market. 38 00:04:03,220 --> 00:04:08,160 Because the free market prices fall because you're a part of the free market. 39 00:04:08,580 --> 00:04:10,820 You only choose things that give you more value. 40 00:04:10,820 --> 00:04:15,680 So when you say the AI intersection, AI is a massive productivity boost, 41 00:04:15,760 --> 00:04:19,640 which means prices should fall faster and faster and faster as jobs are removed. 42 00:04:20,580 --> 00:04:22,960 But that can't happen from the control system. 43 00:04:22,960 --> 00:04:28,780 it has to steal that productivity by manipulating money faster and faster. 44 00:04:29,000 --> 00:04:32,060 And when you measure from that control system, you're a part of it. 45 00:04:33,200 --> 00:04:35,320 You're making that happen. 46 00:04:35,500 --> 00:04:41,460 So that system has to, because these are fundamentally different propositions. 47 00:04:42,700 --> 00:04:46,900 So if it's an asset within a control system, 48 00:04:46,900 --> 00:04:54,980 you might get rich in essentially something that would look like a dystopian surveillance state 49 00:04:54,980 --> 00:04:58,980 where you now have all the money and everybody else doesn't. 50 00:05:00,820 --> 00:05:04,160 A different proposition would be it's a protocol. 51 00:05:04,520 --> 00:05:08,000 It's an open, decentralized, secure protocol bounded by energy. 52 00:05:09,000 --> 00:05:13,260 And from that viewpoint, it's outside of the control system. 53 00:05:14,900 --> 00:05:16,020 It makes sense? 54 00:05:16,020 --> 00:05:16,740 Yeah. 55 00:05:16,900 --> 00:05:21,080 But in both of those things, it's either one or the other. 56 00:05:21,400 --> 00:05:22,440 It can't be both. 57 00:05:23,780 --> 00:05:32,580 Yeah, and I definitely see it trending in the one direction with AI and productivity kind of taking over. 58 00:05:32,580 --> 00:05:45,420 I don't know if you've seen this recent stat, but recent college graduates, specifically males, are the most unemployed that they've ever been because AI is taking a lot of those entry-level jobs. 59 00:05:45,420 --> 00:05:53,080 whether it's like an analyst or something else, because the higher ups can now be a little bit more efficient with their time. 60 00:05:53,680 --> 00:06:03,040 Now, with this kind of, I guess, collision happening, do you think that with the education system where it is, 61 00:06:03,080 --> 00:06:09,780 it almost seems like the average male or person in general coming out of college to get a well-paying job 62 00:06:09,780 --> 00:06:15,780 needs to be at least, quote unquote, more qualified or something needs to collapse. 63 00:06:15,940 --> 00:06:21,240 I mean, we've had almost a million jobs written down in the recent revisions here, the most 64 00:06:21,240 --> 00:06:21,980 in history. 65 00:06:22,680 --> 00:06:27,740 So I'm looking at this current system and the way that AI is, you know, everybody was 66 00:06:27,740 --> 00:06:31,660 worried about AI taking jobs and they were always talking about the lower jobs. 67 00:06:31,660 --> 00:06:37,280 But it seems like those middle tier jobs are almost, you know, becoming way more efficient 68 00:06:37,280 --> 00:06:40,600 where the lower kind of entry-level type of positions 69 00:06:40,600 --> 00:06:43,600 are just making it harder and harder on that younger class. 70 00:06:44,460 --> 00:06:47,600 Yeah, so Brandon, this is... 71 00:06:48,800 --> 00:06:52,960 AI right now is the worst it will ever be. 72 00:06:54,420 --> 00:06:59,120 Prices of AI, the quality is exploding 73 00:06:59,120 --> 00:07:03,460 and the price is falling and falling and falling 74 00:07:03,460 --> 00:07:06,600 because prices fall to the marginal cost of production. 75 00:07:07,280 --> 00:07:20,260 And some of the big LLMs that are doing everything else are being replaced by agents doing a specific task and then married with another agent doing a different specific task and another one doing a specific task. 76 00:07:20,420 --> 00:07:25,780 Like the division of labor in humans, but like it's a different division of labor of the AIs. 77 00:07:26,580 --> 00:07:30,740 And the division of labor at the AIs don't require the big model. 78 00:07:30,740 --> 00:07:36,760 right so those are literally free and they happen and now you string together that division of labor 79 00:07:36,760 --> 00:07:42,960 over and over and over again and those ais are way better than any person any single thing you 80 00:07:42,960 --> 00:07:50,960 could teach a human you can teach this better faster works all the time and it's free then you 81 00:07:50,960 --> 00:07:55,940 string another agent with the other agent to do a different task and another agent and you have a 82 00:07:55,940 --> 00:08:05,380 swarm of agents that is your, your, your business. Um, so when people, when people think that, 83 00:08:05,380 --> 00:08:12,780 that any job is safe over the long run with what's coming, they're deluding themselves, 84 00:08:13,140 --> 00:08:18,940 completely delusional. And, but what you're, what you're describing is the fear that from 85 00:08:18,940 --> 00:08:25,920 the control system, you have this more and more of these people are so scared of the thing that's 86 00:08:25,920 --> 00:08:35,000 It's destroying, because the thing that's consolidating into the control system, they're voting for, they believe that there's an enemy within that. 87 00:08:35,500 --> 00:08:43,920 And it's dividing them and they're fighting more or saying it's Republicans, it's Democrats, it's this, it's this, it's China, it's Ukraine. 88 00:08:44,920 --> 00:08:47,900 And all of that makes the control system stronger. 89 00:08:48,500 --> 00:08:49,420 All of it. 90 00:08:49,420 --> 00:08:54,040 Because you're feeding your energy into a system that's exploiting you, 91 00:08:55,080 --> 00:08:58,400 feeding off your energy to make prices go up. 92 00:08:59,460 --> 00:09:01,200 When the opposite is true. 93 00:09:01,660 --> 00:09:04,020 That's why I keep saying over and over and over again 94 00:09:04,020 --> 00:09:06,280 that the natural state of the free market is deflation. 95 00:09:06,740 --> 00:09:08,300 What would you expect to see? 96 00:09:08,780 --> 00:09:12,320 You would expect to see as the jobs got removed 97 00:09:12,320 --> 00:09:16,600 and you used the same technology that removed the job 98 00:09:16,600 --> 00:09:22,160 because you got more value, prices would fall by that amount. 99 00:09:22,360 --> 00:09:24,040 So you wouldn't need the job anymore. 100 00:09:25,400 --> 00:09:30,180 But what people keep doing is they keep on, okay, yeah, that's true. 101 00:09:30,320 --> 00:09:30,880 Nod to your head. 102 00:09:30,940 --> 00:09:31,460 Yep, yep. 103 00:09:31,620 --> 00:09:35,360 And then go back and spending all of their time measuring that 104 00:09:35,360 --> 00:09:36,800 from the control system. 105 00:09:37,800 --> 00:09:40,140 And they're confused, right? 106 00:09:40,140 --> 00:09:42,960 Because their whole life is inside the control system. 107 00:09:43,160 --> 00:09:45,860 And they don't know they can just move their time and energy 108 00:09:45,860 --> 00:09:53,620 into the new system and expand a positive force for all of humanity, where 8 billion people are 109 00:09:53,620 --> 00:09:59,100 in service of 8 billion people. So they're stuck in the fear and the coercion and the control and 110 00:09:59,100 --> 00:10:05,880 the centralization and the surveillance. All of that is a derivative of breaking free markets 111 00:10:05,880 --> 00:10:13,080 that has to get worse and worse and worse. And everybody inside that derivative is looking for 112 00:10:13,080 --> 00:10:19,540 a solution from the same system creating the problem. They don't know it. So they're caught. 113 00:10:19,740 --> 00:10:24,320 They're caught constantly asking this question or caught asking the same question you did. 114 00:10:24,760 --> 00:10:30,340 When is Bitcoin going to go up by a whole bunch that can free me enough that I'm not in it anymore, 115 00:10:30,920 --> 00:10:34,340 but I'm still in it if I'm measuring from that. 116 00:10:36,340 --> 00:10:42,320 So then the new measuring stick needs to be on Bitcoin opposed to the current just financial 117 00:10:42,320 --> 00:10:51,940 dollar realm, right? Because the construct of the financial realm of the US dollar is a debt-based 118 00:10:51,940 --> 00:11:00,280 system that must have inflation. That has to, mathematically has to be, the debt is loaned into 119 00:11:00,280 --> 00:11:06,420 existence and you create a structural mathematical structure that has to fight against the free 120 00:11:06,420 --> 00:11:11,120 market. First, you have to regulate, then creates monopolies, then creates more. 121 00:11:11,120 --> 00:11:16,020 And then, and the government gets bigger the entire time because it has to keep on creating 122 00:11:16,020 --> 00:11:22,380 more money mathematically or, or deflation collapses that system to zero. 123 00:11:22,700 --> 00:11:26,800 It can't allow the free market because the free market is deflationary. 124 00:11:26,880 --> 00:11:31,260 And what you're doing with all of your actions, what you're doing, like what you're doing on 125 00:11:31,260 --> 00:11:35,880 Riverside right now, touching a whole bunch of other people, you wouldn't use Riverside 126 00:11:35,880 --> 00:11:37,840 unless it was providing you more value. 127 00:11:37,840 --> 00:11:41,180 and people wouldn't be watching this unless it was providing them more value. 128 00:11:41,840 --> 00:11:44,940 The natural state of the free market is you can't get paid more 129 00:11:44,940 --> 00:11:47,040 unless you provide more value than other people. 130 00:11:48,320 --> 00:11:55,440 But that's a complete brain break from the world we live in, right, 131 00:11:55,760 --> 00:11:57,320 and measure everything from. 132 00:11:58,260 --> 00:12:01,600 And so, yes, Bitcoin has to be, it's either a protocol, 133 00:12:01,760 --> 00:12:06,620 it's being used as all money is, is an abstract concept for our time. 134 00:12:07,840 --> 00:12:13,400 So if you, if, if you, it's for our trade between people. 135 00:12:13,600 --> 00:12:16,380 So if you take that abstract concept and take, 136 00:12:16,380 --> 00:12:18,920 and you manipulate that abstract concept, 137 00:12:19,080 --> 00:12:20,620 you have to manipulate our time. 138 00:12:21,620 --> 00:12:25,480 And if people are measuring from that concept of their measure, 139 00:12:25,660 --> 00:12:28,240 they're manipulating their time, thinking they're getting rich, 140 00:12:29,060 --> 00:12:33,060 they're just getting, they're inside the system still 141 00:12:33,060 --> 00:12:36,040 in a zero sum game that has to get worse. 142 00:12:36,040 --> 00:12:43,400 they're contributing to the to the world they fear most and they think it's somebody else but 143 00:12:43,400 --> 00:12:53,840 it's them so so why this why this is so hard to to uh to to see it's so easy to to believe in 144 00:12:53,840 --> 00:13:00,300 your own nonsense you'd be like so someone something matches your your belief of the world 145 00:13:00,300 --> 00:13:05,200 a perceived reality of the world it's easier to attract to attach your beliefs onto that 146 00:13:05,200 --> 00:13:11,880 than something that would be new and challenging your cognitive dissonance. 147 00:13:11,880 --> 00:13:16,680 All of the things you formerly believed were true that have to change 148 00:13:16,680 --> 00:13:21,080 because something imposed a new objective reality. 149 00:13:21,480 --> 00:13:22,640 That's what's happening in Bitcoin. 150 00:13:23,040 --> 00:13:27,640 You have a new objective reality, a decentralized secure protocol bounded by energy 151 00:13:27,640 --> 00:13:30,640 that is imposing a new discipline. 152 00:13:30,640 --> 00:13:35,960 but people are still measuring it from their own, 153 00:13:37,040 --> 00:13:42,700 through their perceived reality and trying to mesh these two thoughts together in their brain. 154 00:13:42,840 --> 00:13:48,060 So it would be natural for them to believe because they've always seen prices go up 155 00:13:48,060 --> 00:13:54,840 and it would be an asset. Now I have a good asset or a good trade. It would be easy. It'd be way 156 00:13:54,840 --> 00:14:02,680 easier to say that's what's happening and it would feed back than the natural state of the 157 00:14:02,680 --> 00:14:06,600 free market is deflation because we've never seen that reality. 158 00:14:08,920 --> 00:14:14,200 Yeah. And that's always interesting because, of course, you've got the classic, 159 00:14:14,200 --> 00:14:21,240 like how much Bitcoin do you need to hold over time? But with this deflationary cycle that 160 00:14:21,240 --> 00:14:26,520 you're talking about now it seems like we're kind of like having a cross of the worlds right now with 161 00:14:26,520 --> 00:14:32,280 the deflationary aspect of bitcoin obviously it's going up in the fiat terms but if you look at all 162 00:14:32,280 --> 00:14:40,520 assets housing you know even retirement accounts now can now hold bitcoin uh but the fiat you know 163 00:14:40,520 --> 00:14:47,080 it's just accelerating so much how do you view the collision of these two worlds does the fiat 164 00:14:47,080 --> 00:15:08,600 So the system need to have an epic collapse in order for us to get to that hyper Bitcoinized world and for us to all convert We wouldn let wouldn we wouldn let it happen so let just so so no government in history going back to rome right um has ever allowed 165 00:15:09,800 --> 00:15:14,680 the free market to work for a long time because because if you allow the free market to work which 166 00:15:14,680 --> 00:15:23,000 is deflationary and all of the credit which is the basis of the system all of the credit fails 167 00:15:23,000 --> 00:15:30,520 as does the basis of the system of living for everybody. So you wouldn't allow that to happen. 168 00:15:30,920 --> 00:15:37,240 You would vote, you'd rise on the streets, you'd march on the streets and you'd vote in some 169 00:15:37,240 --> 00:15:43,800 dictator who would print money and steal your individual rights and freedoms to save you, 170 00:15:44,080 --> 00:15:49,660 because they could save you by printing money. So we don't see our own agency. That's the problem. 171 00:15:49,660 --> 00:16:04,200 And so because of that, we think it's somebody else, but it's us acting within that system just in what would be perfectly normal trying to solve our own problems from that system. 172 00:16:04,300 --> 00:16:07,660 And there is no way to solve the credit-based system from the credit-based system. 173 00:16:08,840 --> 00:16:10,480 It's impossible, right? 174 00:16:10,480 --> 00:16:28,040 Because that system has to objectively, mathematically, it has to steal productivity from the free market and change what was a free market into a nonsense control crony capitalism, socialism. 175 00:16:28,260 --> 00:16:29,580 It has to be one of the other. 176 00:16:29,800 --> 00:16:31,380 And it has to get worse and worse and worse. 177 00:16:31,380 --> 00:16:38,340 And from that new system, all of the people's belief inside that system thinks there's somebody else that's the problem. 178 00:16:38,480 --> 00:16:39,980 And they don't want to say that it's them. 179 00:16:40,480 --> 00:16:45,980 when they could just move their time and energy into a true free market. 180 00:16:47,100 --> 00:16:48,980 They stay there. 181 00:16:49,100 --> 00:16:50,240 So what does that say about us? 182 00:16:50,280 --> 00:16:51,720 It doesn't say anything about Bitcoin. 183 00:16:52,300 --> 00:16:53,500 It says something about us. 184 00:16:54,060 --> 00:17:00,740 And what we're talking about right now is probably where I spent the most time 185 00:17:00,740 --> 00:17:03,480 trying to think of where Bitcoin's vulnerabilities are 186 00:17:03,480 --> 00:17:07,640 because I knew it would be us that would be the vulnerabilities 187 00:17:07,640 --> 00:17:09,800 from that control system. 188 00:17:09,800 --> 00:17:17,700 It would be our inability to see it was us and it was our change 189 00:17:17,700 --> 00:17:21,820 and then move our time and energy to the new system 190 00:17:21,820 --> 00:17:24,280 to be able to expand the new system. 191 00:17:25,240 --> 00:17:28,340 And every single human would have to go through that process 192 00:17:28,340 --> 00:17:32,460 and the cognitive dissonance of going through that process 193 00:17:32,460 --> 00:17:37,120 to choose which version of reality did they want to live in. 194 00:17:37,120 --> 00:17:44,300 control system, the surveillance state, or one brings truth, hope, and abundance to 8 billion 195 00:17:44,300 --> 00:17:49,740 people. 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And that's probably a high probability out of that. How do 213 00:19:17,580 --> 00:19:23,420 you reduce that probability? How do you increase the probability of something different happening? 214 00:19:23,420 --> 00:19:29,160 you spend more time in the emergent system that's healing the other system. 215 00:19:30,920 --> 00:19:33,620 And every single person has that choice. 216 00:19:35,440 --> 00:19:39,440 Yeah. And it seems like, you know, every person that you talk to, 217 00:19:39,520 --> 00:19:41,360 even just in the normie world, 218 00:19:41,360 --> 00:19:45,620 it seems like everybody's starting to lose more and more faith by the day of 219 00:19:45,620 --> 00:19:49,800 the current system. So it almost seems like, you know, 220 00:19:49,800 --> 00:19:56,640 we're getting in onboarding more Bitcoiners by the day. And, you know, this is starting to 221 00:19:56,640 --> 00:20:02,520 accelerate just adoption in general, especially, you know, when we're seeing the the treasury 222 00:20:02,520 --> 00:20:07,400 companies, you know, now you're going to have to have the finance bros like really just look at 223 00:20:07,400 --> 00:20:12,720 Bitcoin as an asset and dive into it a little bit more. And I think once you get that initial 224 00:20:12,720 --> 00:20:17,840 touch point and start diving into Bitcoin, that's where we start to see that these free markets 225 00:20:17,840 --> 00:20:25,020 really start to accelerate and start to take over and swallow up the current system. 226 00:20:25,320 --> 00:20:31,720 Now, when we're seeing the massive amounts of adoption from these treasury companies, 227 00:20:32,100 --> 00:20:35,020 is this just, I guess, a part of it? 228 00:20:35,020 --> 00:20:41,220 Or do you think that this takes away from essentially the free market, so to speak? 229 00:20:41,220 --> 00:20:44,840 because we have essentially a lot of zombie companies 230 00:20:44,840 --> 00:20:50,080 or people just utilizing debt to buy up Bitcoin at this point, 231 00:20:50,160 --> 00:20:51,780 hoping that the number goes up. 232 00:20:52,180 --> 00:20:54,680 But is that essentially just missing the whole point? 233 00:20:55,780 --> 00:20:58,260 Yeah, so it is missing the whole point. 234 00:20:58,400 --> 00:21:00,740 Now, I'm not saying anything against the treasury companies. 235 00:21:00,740 --> 00:21:04,040 There's some really great companies in there. 236 00:21:04,120 --> 00:21:06,860 MicroStrategy created a really interesting, 237 00:21:07,660 --> 00:21:13,740 using pure Roshard's essentially hacking the existing system. I think they've done a good 238 00:21:13,740 --> 00:21:20,700 job. Metaplan has done a good job and some others. So I have nothing against that idea, 239 00:21:20,700 --> 00:21:24,780 but it's a free market idea. Effectively, what they're doing is levering their balance sheet 240 00:21:24,780 --> 00:21:36,060 to acquire more Bitcoin. And if they don't get flushed out on an epic drawdown, then they could 241 00:21:36,060 --> 00:21:44,380 do that for a long time. I personally think though that over time, what you're going to see is a 242 00:21:44,380 --> 00:21:55,580 transition from that model to cash flows in Bitcoin and companies that are accepting Bitcoin. 243 00:21:55,580 --> 00:22:02,620 Because today's trade, every single company has to essentially pay 2.5% rent-seeking fee to Visa, 244 00:22:02,620 --> 00:22:09,360 or MasterCard or a bank to accept payments in a currency that's losing value. 245 00:22:11,220 --> 00:22:13,000 And objectively, that makes no sense. 246 00:22:13,620 --> 00:22:19,440 When there's a protocol that they can accept money that has no fees 247 00:22:19,440 --> 00:22:24,780 or very minimal fees in a currency that's increasing value. 248 00:22:26,480 --> 00:22:31,120 So you're going to see this switch from the free market 249 00:22:31,120 --> 00:22:36,980 is going to drive that. And where would it drive it first? It would drive it in, I use two and a 250 00:22:36,980 --> 00:22:43,080 half to 3% because that would be US where I am now or Canada. But in countries where it's seven 251 00:22:43,080 --> 00:22:51,280 and a half to 10% and their currency is losing money faster, you'd expect to see it there first, 252 00:22:51,640 --> 00:22:59,340 which is exactly what you're seeing. So you have this emergent new free market that those businesses 253 00:22:59,340 --> 00:23:03,360 that accept Bitcoin and transition to this and then hold Bitcoin. 254 00:23:03,600 --> 00:23:07,980 And they will be able to offer more value in the businesses that don't. 255 00:23:08,960 --> 00:23:13,360 And the users will go to the companies that offer more value. 256 00:23:13,700 --> 00:23:16,120 And those businesses will also integrate AI. 257 00:23:16,120 --> 00:23:19,740 And the users will use those businesses that use AI. 258 00:23:19,880 --> 00:23:21,980 Because if they don't, they won't be businesses anymore. 259 00:23:24,280 --> 00:23:28,500 So this is just, we are so, so crazy early. 260 00:23:29,340 --> 00:23:37,020 in what we're talking about. And most people still today think their only way to play that exposure 261 00:23:37,020 --> 00:23:45,360 is to play in a derivative instrument of a company holding Bitcoin instead of them. 262 00:23:46,720 --> 00:23:53,400 And that applies more risk, right? So you're taking additional risk by not holding in self-custody 263 00:23:53,400 --> 00:23:56,940 on the belief somebody is going to hold it better for you. 264 00:23:56,940 --> 00:24:03,060 It seems like Bitcoin is essentially revolutionizing finance, to say the very least. 265 00:24:03,240 --> 00:24:10,760 I mean, on this whole note, we're seeing nearly 200 publicly traded companies now with Bitcoin on the balance sheet. 266 00:24:10,900 --> 00:24:18,040 Some have good underlying businesses, but it seems like as you're describing all of this, 267 00:24:18,940 --> 00:24:26,280 is this going to change the way that finance in general is going to be run? 268 00:24:26,280 --> 00:24:38,340 I mean, we have the S&P 500 right now where it's essentially the MAG 7 and then the S&P 493 is essentially flat and not really doing anything. 269 00:24:39,000 --> 00:24:42,200 And so these seven companies have just become so top heavy. 270 00:24:42,880 --> 00:24:54,160 More of these companies that have Bitcoin on the balance sheet, we already see Coinbase, Block, you know, Tesla that have Bitcoin on the balance sheet are going to start to infiltrate that S&P 500. 271 00:24:54,160 --> 00:25:12,840 So, you know, I've had some recent conversations with some traditional financial guys who are looking at this and AI and saying, hey, you know, if you use AI similar to what Michael Saylor is doing, like creating financial instruments to provide more value to your shareholders to increase that Bitcoin exposure. 272 00:25:12,840 --> 00:25:15,760 and then also like accepting Bitcoin. 273 00:25:15,900 --> 00:25:18,100 It seems like this is just a no-brainer 274 00:25:18,100 --> 00:25:20,420 where Bitcoin is going to take over finance, 275 00:25:20,600 --> 00:25:22,920 the financial world as we know it pretty soon 276 00:25:22,920 --> 00:25:25,220 and create almost that free market. 277 00:25:25,760 --> 00:25:27,240 But on the flip side of things, 278 00:25:27,240 --> 00:25:29,360 we're also seeing a lot of Bitcoin companies 279 00:25:29,360 --> 00:25:32,360 who are anti or maybe not anti, 280 00:25:32,540 --> 00:25:35,180 but not rushing to go public as quickly. 281 00:25:36,200 --> 00:25:39,200 So I'm curious as with your experience with ego death 282 00:25:39,200 --> 00:25:44,340 and kind of the pull between going public or staying private 283 00:25:44,340 --> 00:25:47,340 and accumulating Bitcoin on the balance sheet. 284 00:25:47,440 --> 00:25:48,780 How are you looking at that? 285 00:25:48,800 --> 00:25:53,440 And how are you seeing the financial world kind of revolutionized with Bitcoin? 286 00:25:54,420 --> 00:25:58,060 Yeah, so again, we are so crazy early on this. 287 00:25:58,060 --> 00:26:02,920 If you had a regulatory framework that most people trusted your regulatory framework 288 00:26:02,920 --> 00:26:08,880 and inside that regulatory framework, you were collecting Bitcoin in the balance sheet, 289 00:26:08,880 --> 00:26:16,040 but still pricing in US dollars, then that Bitcoin on your balance sheet would be subject 290 00:26:16,040 --> 00:26:23,660 eventually to that regulatory framework. If that regulatory framework was a control system 291 00:26:23,660 --> 00:26:33,560 that couldn't allow that free market, then that regulatory framework would eventually 292 00:26:33,560 --> 00:26:41,460 capture your Bitcoin. It would have to, just like gold has always been captured and repriced. 293 00:26:42,240 --> 00:26:49,420 It would have to. So what I'm saying is the risk of people doing that inside a regulatory 294 00:26:49,420 --> 00:26:55,860 framework. How you can do that, I own MicroStrategy. I think Michael Saylor is brilliant. 295 00:26:55,860 --> 00:27:02,440 But I certainly wouldn't do that for all of my investment. 296 00:27:02,780 --> 00:27:05,660 It's a tiny piece of my overall strategy, 297 00:27:05,960 --> 00:27:10,580 and I would rather self-custody and understand what's happening. 298 00:27:11,040 --> 00:27:13,840 Same thing is now true for each company that you're building. 299 00:27:13,960 --> 00:27:16,840 If you're building a Bitcoin-denominated business 300 00:27:16,840 --> 00:27:20,940 and you're accruing more Bitcoin on your balance sheet each month, 301 00:27:21,720 --> 00:27:24,100 why do you need to go public? 302 00:27:25,860 --> 00:27:33,180 yeah i mean originally it was just to to get access more capital but it seems like if you 303 00:27:33,180 --> 00:27:39,060 have bitcoin that lasts longer you know it has that deflationary um you know the capital yeah 304 00:27:39,060 --> 00:27:45,740 the capital is exploding in value because it's true it's it's a protocol this bull run i think 305 00:27:45,740 --> 00:27:50,820 everybody should focus on getting their bitcoin in self-custody and off exchanges we all saw what 306 00:27:50,820 --> 00:27:56,960 happened last time with the huge blow-offs we had celsius ftx all of the big dogs blowing up well 307 00:27:56,960 --> 00:28:00,900 this time everybody's being smart and holding their bitcoin in self-custody this is why i'm 308 00:28:00,900 --> 00:28:06,920 going with the number one hardware wallet in the game that's trezor you can go to trezor.io or the 309 00:28:06,920 --> 00:28:13,660 affiliate link below to get yours for five percent off using promo code greencandle5 get your bitcoin 310 00:28:13,660 --> 00:28:19,640 off exchanges in the easiest way possible they are a trusted brand they've been in the game the 311 00:28:19,640 --> 00:28:24,500 longest of any hardware wallets out there. So that's why I've partnered with them, making it 312 00:28:24,500 --> 00:28:29,100 the easiest for you to get your Bitcoin off exchanges and not have to worry about any 313 00:28:29,100 --> 00:28:34,800 counterparty risks. So do it today. Go to the affiliate link below. Use promo code GreenCandle5. 314 00:28:35,000 --> 00:28:40,740 Enough from me. Let's get back to the show. And so you don't need any more money, right? 315 00:28:40,780 --> 00:28:45,580 You don't need the... So the only reason you would do it is exit to somebody else. 316 00:28:45,580 --> 00:28:53,100 but but in time you won't need to exit you could actually add uh you you could provide dividends 317 00:28:53,100 --> 00:28:59,940 from that um from that business that's driving that that value and this is exploding all around 318 00:28:59,940 --> 00:29:08,900 the world from from the new operating system which is bitcoin which is which which destroys 319 00:29:08,900 --> 00:29:16,240 all of the other models. It's incompatible with the other models. And which is why when I said 320 00:29:16,240 --> 00:29:25,960 all money is, is an abstract concept for trade between us, then you don't need to convert it 321 00:29:25,960 --> 00:29:35,640 into manipulated trade between us to be able to have success in it. You keep it as an abstract 322 00:29:35,640 --> 00:29:38,640 trade between us and prices fall against it forever. 323 00:29:41,740 --> 00:29:46,600 So eventually all these prices are going to essentially decline with everything 324 00:29:46,600 --> 00:29:50,200 going around in Bitcoin, obviously with that deflationary. 325 00:29:50,200 --> 00:30:06,360 But I curious how you see this projecting out into the future as like Bitcoin gets adopted Yeah I had a conversation with Mark Moss who kind of lined out Bitcoin on this 50 year cycle where the first 10 years is you know kind of the plebs 326 00:30:06,360 --> 00:30:11,860 adopting the second 10 years, which is what we're in right now seeing those institutions adopt. 327 00:30:12,080 --> 00:30:16,140 The third 10 years is when we'll get governments, then we'll get medium of exchange, 328 00:30:16,140 --> 00:30:22,040 then we'll get unit of account. I'm curious how you see this timeline essentially playing out. 329 00:30:22,040 --> 00:30:25,960 if you see it similarly or if you see it rapidly accelerating 330 00:30:25,960 --> 00:30:28,400 or maybe taking a little bit longer. 331 00:30:29,160 --> 00:30:33,820 First, I really love Mark, but I disagree with him on this. 332 00:30:34,320 --> 00:30:39,660 Because Bitcoin is, when you're saying something like this, 333 00:30:39,960 --> 00:30:43,060 what you're saying is, what does the average look like to everyone? 334 00:30:44,120 --> 00:30:46,040 Here's what this is, here's what this is. 335 00:30:46,360 --> 00:30:48,960 There will be pubs coming in in 30 years. 336 00:30:48,960 --> 00:30:54,820 there will be all of these meshed together. There'll be corporations that miss the boat 337 00:30:54,820 --> 00:31:03,420 that aren't corporations anymore because they'll get wiped out. The governments inside of what 338 00:31:03,420 --> 00:31:10,260 we're talking about in Bitcoin have to become smaller because the productivity flows to society 339 00:31:10,260 --> 00:31:15,480 instead of getting siphoned out of society and making governments bigger. 340 00:31:15,480 --> 00:31:22,340 So all of these things mesh together in this crazy, unorthodox, chaotic transition. 341 00:31:23,420 --> 00:31:29,340 And the transition looks different for every person measuring it. 342 00:31:30,020 --> 00:31:32,100 So how do I measure it? 343 00:31:32,560 --> 00:31:37,420 I measure it as Bitcoin is a protocol and prices are falling against it forever. 344 00:31:37,840 --> 00:31:44,360 And from that measure, I look for value in companies that are creating more value in the free market. 345 00:31:44,360 --> 00:31:52,280 to be able to deliver abundance away from this control system. And because there's so much 346 00:31:52,280 --> 00:31:57,760 misunderstanding of this, there's a crazy amount of value to create to help people 347 00:31:57,760 --> 00:32:05,240 move over. And so my reflection of the world is a reflection of the world that I see every day. 348 00:32:05,240 --> 00:32:12,260 And it's so exciting. But would you measure me as a government, corporation, person? 349 00:32:12,260 --> 00:32:15,580 And it's illogical. 350 00:32:15,760 --> 00:32:19,200 It's in the individual moving their time, 351 00:32:19,580 --> 00:32:23,440 essentially bending the future with their actions 352 00:32:23,440 --> 00:32:24,920 into the world that they see. 353 00:32:25,600 --> 00:32:27,720 And that's going to happen in any corporation 354 00:32:27,720 --> 00:32:30,980 or any government or any group of people. 355 00:32:31,100 --> 00:32:35,060 It's just some of the group of people 356 00:32:35,060 --> 00:32:37,020 with a mission to do something. 357 00:32:38,340 --> 00:32:40,080 And they all change too 358 00:32:40,080 --> 00:32:43,220 as they come to understand what this looks like differently. 359 00:32:44,600 --> 00:32:47,620 What makes me really positive about this is 360 00:32:47,620 --> 00:32:49,660 what does the free market value? 361 00:32:50,680 --> 00:32:55,300 The free market values giving more value to other people. 362 00:32:57,000 --> 00:33:00,500 So you ran in your website, in your podcast, 363 00:33:01,460 --> 00:33:02,600 that's exploding. 364 00:33:03,380 --> 00:33:07,040 It couldn't explode unless you were valuable 365 00:33:07,040 --> 00:33:08,460 to a whole bunch of other people. 366 00:33:08,460 --> 00:33:15,820 that's why you're having so much success is exactly what you're just that describe it why 367 00:33:15,820 --> 00:33:20,560 would that look like that because you understand you're at the edge of this understanding 368 00:33:20,560 --> 00:33:25,160 and helping other people understand it even through our conversation right now 369 00:33:25,160 --> 00:33:31,300 you're at the edge of the understanding of a something that 99.9 percent of people don't 370 00:33:31,300 --> 00:33:36,420 understand they're trapped in this other system and as you give them more value 371 00:33:36,420 --> 00:33:47,300 your value explodes um that's so so this is this is a renaissance this is the most exciting time to 372 00:33:47,300 --> 00:33:54,320 be alive because because you can learn something that's very different than than what what most 373 00:33:54,320 --> 00:34:01,200 people know and you can apply your genius in helping people and the more you help people 374 00:34:01,200 --> 00:34:08,760 the better you do. It's just a reflection. Yeah. Hey, it's not just me, Jeff. It's all 375 00:34:08,760 --> 00:34:14,620 because of you. You coming on the show, helping explain all these things is providing people so 376 00:34:14,620 --> 00:34:19,840 many values. I'm just curious and I get to pick your brain for at least an hour. So I mean, 377 00:34:20,020 --> 00:34:25,300 I'm always thankful to interact with people like yourself. So thank you for the kind words. But 378 00:34:25,300 --> 00:34:32,500 you're talking a little bit about reimagining civilization, I guess, to put it in short. 379 00:34:32,980 --> 00:34:38,820 Now, we've talked a little bit about businesses, but I'm curious how you look at it as the 380 00:34:38,820 --> 00:34:44,920 individual. Is this more of the sovereign individual, so to speak, thesis kind of playing 381 00:34:44,920 --> 00:34:52,360 out in the background with Bitcoin? Yeah, so it is. It is for sure. 382 00:34:52,360 --> 00:34:57,700 here's a different way of saying this 383 00:34:57,700 --> 00:35:01,560 you could look at a probability distribution of any single person 384 00:35:01,560 --> 00:35:03,860 and so their past 385 00:35:03,860 --> 00:35:07,080 and all of the things that happen to them and everything else 386 00:35:07,080 --> 00:35:08,500 create the moment right now 387 00:35:08,500 --> 00:35:11,000 your past, everything that you've ever done 388 00:35:11,000 --> 00:35:14,220 and my past intersects right now 389 00:35:14,220 --> 00:35:16,340 and this is the only moment that matters 390 00:35:16,340 --> 00:35:19,840 and from here, what we're doing right now 391 00:35:19,840 --> 00:35:27,400 the future probabilities can change completely this moment this moment right now what happens 392 00:35:27,400 --> 00:35:33,740 for most people you can you can measure this you can see people doing the exact same thing over and 393 00:35:33,740 --> 00:35:39,120 over and over and even though they have a choice infinite choices to do something different 394 00:35:39,120 --> 00:35:45,660 they don't believe it and they fall into a trap and they keep on and so their choices 395 00:35:45,660 --> 00:35:48,980 and they believe their choices and their choices are true for them. 396 00:35:49,640 --> 00:35:51,280 And it reinforces. 397 00:35:51,420 --> 00:35:53,460 And you can see this in every single person you know. 398 00:35:55,160 --> 00:35:56,620 You can see it in yourself. 399 00:35:57,240 --> 00:36:03,180 And you can see the potential opportunities that are so much bigger than what. 400 00:36:03,580 --> 00:36:07,440 And every single person can access that, but they don't know they can access it 401 00:36:07,440 --> 00:36:10,960 because they look at their past and all the reasons that they believe there. 402 00:36:10,960 --> 00:36:16,540 And if you measured their potential probabilities, it would typically stay the same. 403 00:36:17,800 --> 00:36:23,520 And then you see some people that have the same past and also they make a different choice. 404 00:36:23,620 --> 00:36:27,240 They see something, they interact with somebody else that gives them a different idea. 405 00:36:28,780 --> 00:36:29,780 Everything changes. 406 00:36:29,900 --> 00:36:31,120 It's a zero to one moment. 407 00:36:32,040 --> 00:36:36,180 And now they see infinite opportunities and they create those infinite opportunities for 408 00:36:36,180 --> 00:36:38,280 other people and they touch a whole bunch of other people. 409 00:36:38,280 --> 00:36:40,340 I'll use a simple example. 410 00:36:40,960 --> 00:36:51,260 very simple example. BlackBerry Research in Motion, the phone, my past of that and using that, 411 00:36:51,840 --> 00:37:00,400 I saw I would never use Apple. A couple of years before that, Steve Jobs has an idea of creating 412 00:37:00,400 --> 00:37:07,740 something totally different that would act totally different. But my perception of reality 413 00:37:07,740 --> 00:37:12,480 had a phone that might, and I believed my perception of reality until I put this in my 414 00:37:12,480 --> 00:37:19,820 phone until I put the iPhone in my hands and I changed in an instant instant. So my belief 415 00:37:19,820 --> 00:37:26,700 structure had this other path that would have looked the same forever. And somebody imposed a 416 00:37:26,700 --> 00:37:33,060 different belief structure and created value for me that I changed immediately. It's a tiny little 417 00:37:33,060 --> 00:37:40,500 example. So what creates an ability to create a different path of the future, right? That everybody 418 00:37:40,500 --> 00:37:46,400 is operating over here and their belief structure and somebody creates a different belief structure 419 00:37:46,400 --> 00:37:51,000 that bends reality and a different thing. That is actually what the free market values. That's what 420 00:37:51,000 --> 00:37:55,140 is happening. And we don't think we change, but we change all the time. 421 00:37:55,920 --> 00:38:00,600 This bull run, I'm looking for ways to stack Bitcoin in my sleep and mining has always caught 422 00:38:00,600 --> 00:38:07,040 my eye. I've partnered with the guys over at Simple Mining to help you do just that. I don't 423 00:38:07,040 --> 00:38:11,780 recommend anything that I don't use personally, so I've got a machine up and running with them 424 00:38:11,780 --> 00:38:17,240 right this second. 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Should I explore this? And if it is, it changes all of 442 00:39:14,720 --> 00:39:23,480 your probable future. So that same thing is what I'm describing here is going on for each one of us 443 00:39:23,480 --> 00:39:34,440 and society um and our impact our changes individually are manifesting and changes 444 00:39:34,440 --> 00:39:38,120 in other people individually right through that process 445 00:39:41,960 --> 00:39:48,840 now this is yeah you always seem to blow my mind when you come on the pod jeff because it's just uh 446 00:39:48,840 --> 00:39:56,520 it's incredible but um you know as we're getting into you know i guess this reimagining where 447 00:39:56,520 --> 00:40:01,640 things are going and kind of taking that self-reflection of that and potentially more 448 00:40:01,640 --> 00:40:07,080 people kind of you know as you've described it to me privately just everybody's a node right 449 00:40:07,080 --> 00:40:14,440 just kind of working together to bring us to this new world in uh you know whether that looks more 450 00:40:14,440 --> 00:40:21,640 as the sovereign individual and as we're seeing this technology and ai just increasing that uh 451 00:40:21,640 --> 00:40:29,720 you know efficiency of everywhere um you know where do you see ai and bitcoin colliding to a 452 00:40:30,360 --> 00:40:36,520 potential i guess like medium of exchange because i've heard a lot of people say that ai agents 453 00:40:36,520 --> 00:40:41,720 they'll start transacting this is how we'll get more efficiency and it will essentially become the 454 00:40:41,720 --> 00:40:43,660 the money of the internet. 455 00:40:43,660 --> 00:40:46,700 Do you see that as a way forward as well, 456 00:40:46,700 --> 00:40:48,000 where we're, you know, 457 00:40:48,000 --> 00:40:50,240 not only are people kind of looking in the mirror 458 00:40:50,240 --> 00:40:51,880 and acting as nodes, 459 00:40:51,880 --> 00:40:54,820 but also like in conjunction with AI, 460 00:40:54,820 --> 00:40:59,740 really becoming that ultimate force, I guess, so to speak. 461 00:40:59,740 --> 00:41:01,340 Yeah, so I would say, 462 00:41:01,340 --> 00:41:04,880 I think there's broad confusion on that, 463 00:41:04,880 --> 00:41:07,200 or maybe I'm wrong on this, 464 00:41:07,200 --> 00:41:11,440 but there's two different concepts here. 465 00:41:11,720 --> 00:41:19,320 that people are trying to marry. They're saying, okay, AI agents will use Bitcoin because Bitcoin's 466 00:41:19,320 --> 00:41:25,580 a better currency and then AI will be the driver of Bitcoin. I think that's just a construct from 467 00:41:25,580 --> 00:41:31,840 thinking through financial markets today and how financial markets work. And while some of that 468 00:41:31,840 --> 00:41:41,120 might be true, the bigger path is this. The AI agent is free. Prices fall to the marginal cost 469 00:41:41,120 --> 00:41:46,300 of production in a free market. And the marginal cost of production of the AI agent is free. 470 00:41:46,860 --> 00:41:55,580 A line of code creating other lines of code is zero. So it doesn't need in time Bitcoin. 471 00:41:56,620 --> 00:42:02,520 What Bitcoin measures is the productivity because it can't be manipulated. Because Bitcoin can't be 472 00:42:02,520 --> 00:42:08,680 manipulated in 21 million units. It measures that productivity of it going to free, 473 00:42:08,680 --> 00:42:14,460 flowing to you. That's the difference. 474 00:42:16,680 --> 00:42:23,520 Okay. So then we start to see the development of, I think last time I had you on as well, 475 00:42:23,520 --> 00:42:31,060 we talked about how the current system is, I guess, in conjunction. And we've been talking 476 00:42:31,060 --> 00:42:35,940 throughout this whole entire conversation on how this current system, the deflationary 477 00:42:35,940 --> 00:42:40,900 system that Bitcoin is in with AI, how these worlds are essentially colliding. 478 00:42:41,320 --> 00:42:46,860 Last time you kind of described Bitcoin as being priced in the current dollars, how just 479 00:42:46,860 --> 00:42:54,580 early we are saying that it was in the current system at $43 million per coin, basically with 480 00:42:54,580 --> 00:43:00,700 where we're going. Now we've seen so much more debt and the inflationary aspects of the fiat 481 00:43:00,700 --> 00:43:06,920 system just kind of run rampant, it seems in this past like six, seven, eight months since the last 482 00:43:06,920 --> 00:43:14,060 time we spoke. How have you seen the development of the overall industry just be within this, 483 00:43:14,060 --> 00:43:21,680 I guess, first year in a quote unquote like pro crypto admin here from the Trump administration? 484 00:43:23,340 --> 00:43:28,460 Yeah, I think there's so much confusion broadly. That's why how early when I remember that 43 485 00:43:28,460 --> 00:43:36,860 million per Bitcoin was priced in the currency as of today, right? When we talked about it, 486 00:43:37,260 --> 00:43:45,060 how much of that currency, that manipulation or the asset value of everything within that system 487 00:43:45,060 --> 00:43:51,940 today. But it didn't capture the other side of that, that from that point, all prices would fall 488 00:43:51,940 --> 00:43:59,700 forever. And that 43 million would be infinite, right? Infinite in purchasing power. So it's so 489 00:43:59,700 --> 00:44:07,520 easy to get into what it is in pieces of paper that are being manipulated and keep on pricing 490 00:44:07,520 --> 00:44:13,980 that. And it's really hard to stay in the mindset of the free market is the natural state of the 491 00:44:13,980 --> 00:44:19,260 free market. I don't say deflationary currency. I say the natural state of the free market, 492 00:44:19,260 --> 00:44:25,740 us trading together is deflation period. The more people operating in that world, 493 00:44:25,820 --> 00:44:30,920 the faster deflation because we're all competing to provide more value to other people. And the 494 00:44:30,920 --> 00:44:35,860 output of us competing to provide more value to other people has to be deflation because we only 495 00:44:35,860 --> 00:44:40,900 use the things that provide us more value. So if you had a currency that cannot be cheated, 496 00:44:40,900 --> 00:44:48,900 that just happens. It imposes what I just described. So all of these other things, 497 00:44:48,900 --> 00:45:06,280 all of these other constructs that people are getting caught up in and measuring what I just described is kind of the thing that we spent so much time on um that that I understand that I have empathy for people kind of measuring from from that because it it how they 498 00:45:06,280 --> 00:45:15,020 trying to, to merge these two ideas that are unmergable into a reality that makes sense for 499 00:45:15,020 --> 00:45:25,840 them, but it's actually nonsense in the end. And so I tune myself out of all of that. I just 500 00:45:25,840 --> 00:45:32,920 tune myself out of, I know if Bitcoin stays decentralized and secure, nothing else matters. 501 00:45:33,820 --> 00:45:38,240 It's repricing the world and I'm living in the first global free market that ever existed. 502 00:45:39,200 --> 00:45:43,820 So what do I do in the first global free market that ever existed? I try to find 503 00:45:43,820 --> 00:45:50,340 companies and founders and and provide as much value possible as i can 504 00:45:50,340 --> 00:45:56,920 and as a reflection of that other people win and i win 505 00:45:56,920 --> 00:46:04,500 now you use uh some phrasing there that is kind of curious you say if bitcoin says 506 00:46:04,500 --> 00:46:09,820 decentralized and secure do you see like a potential i mean of course when you know they're 507 00:46:09,820 --> 00:46:16,520 they're losing power, there's going to be some sort of attempts, right, to try to backfill or, 508 00:46:16,740 --> 00:46:21,380 you know, try to make sure that that Bitcoin doesn't stay like that. Of course, we, you know, 509 00:46:21,400 --> 00:46:25,880 we've got the classic FUD of the 51% attack, all of these different things. But do you think that 510 00:46:25,880 --> 00:46:34,440 there's any way possible that Bitcoin doesn't stay decentralized and secure? If you believe 511 00:46:34,440 --> 00:46:40,020 it's an asset within the system, and most people believe it's an asset within the system, 512 00:46:40,560 --> 00:46:47,840 it will be an asset within the system and it will get captured. It's you. We are the consensus 513 00:46:47,840 --> 00:46:55,820 mechanism. If we're running nodes, if we're spending in Bitcoin, if we're building on top 514 00:46:55,820 --> 00:47:05,200 of Bitcoin as a currency, then the consensus mechanism ensures, and what's being built on top, 515 00:47:05,300 --> 00:47:13,880 the privacy and everything else, and the layers that they're building on top, ensures it stays 516 00:47:13,880 --> 00:47:21,260 decentralized and secure. So why I say if, is so people can actually look in themselves in the mirror 517 00:47:21,260 --> 00:47:25,380 and say, which one do I want? 518 00:47:26,060 --> 00:47:29,100 Do I want the control system that's a surveillance state 519 00:47:29,100 --> 00:47:33,320 where I get rich and then it's taken from me? 520 00:47:34,540 --> 00:47:38,220 Or do I want a neutral monetary asset, 521 00:47:38,420 --> 00:47:40,680 a protocol that brings abundance, 522 00:47:40,880 --> 00:47:41,620 8 billion people? 523 00:47:42,340 --> 00:47:44,820 Because the choice is stark, right? 524 00:47:45,060 --> 00:47:48,240 What would you do if in 16 years 525 00:47:48,240 --> 00:47:49,540 you couldn't kill Bitcoin? 526 00:47:49,540 --> 00:47:53,580 Why would you ever hold generational wealth on a piece of paper? 527 00:47:53,980 --> 00:47:54,980 It doesn't make sense. 528 00:47:55,300 --> 00:47:58,740 You need a foolproof solution and I've got it for you. 529 00:47:58,920 --> 00:48:01,060 You could get this as low as $25. 530 00:48:01,580 --> 00:48:06,540 And if you use promo code green candle, you can get 10% off being around for 12 years. 531 00:48:06,640 --> 00:48:10,640 They've engineered the perfect and most easy to use solution. 532 00:48:11,100 --> 00:48:14,460 I've partnered with CryptoSteel to offer for you guys just that. 533 00:48:14,680 --> 00:48:18,580 It is the cheapest and most secure way to store your C phrase. 534 00:48:18,580 --> 00:48:27,300 I don't know about you guys, but I don't have too many things where I think one ton is going to fall on this, but it could survive all of that and more. 535 00:48:27,960 --> 00:48:30,500 So go to CryptoSteel.com. 536 00:48:30,600 --> 00:48:32,400 You can use promo code GreenCandle. 537 00:48:32,580 --> 00:48:37,220 You can get 10% off your entire order if you go there today. 538 00:48:37,660 --> 00:48:42,520 So go ahead and protect your generational wealth and do it with CryptoSteel. 539 00:48:42,780 --> 00:48:43,320 All right. 540 00:48:43,420 --> 00:48:44,200 Enough from me. 541 00:48:44,320 --> 00:48:45,180 Back to the show. 542 00:48:45,780 --> 00:48:47,180 What would you do as a government? 543 00:48:47,180 --> 00:48:56,340 you try to co-opt it and there would be tons of people happily jumping in to co-opt it with you 544 00:48:56,340 --> 00:48:59,440 because they would be measuring it in price go up 545 00:48:59,440 --> 00:49:09,020 so when i when when i say it's you it's me it's you it's a it's every single person and i know i 546 00:49:09,020 --> 00:49:16,300 say this all the time is is we have agency in the world we want to create and we can't it's 547 00:49:16,300 --> 00:49:19,280 And when we say, what will the government do? 548 00:49:19,960 --> 00:49:21,240 What will this person do? 549 00:49:21,460 --> 00:49:25,640 Will we operate on a system we know is unfair? 550 00:49:27,980 --> 00:49:32,340 We're actually giving away our agency and we're putting somebody else in charge of us. 551 00:49:36,380 --> 00:49:42,760 Yeah, and it seems like we're not taking that independence aspect or the, you know, 552 00:49:42,760 --> 00:49:47,800 like we were kind of reverting back to the sovereign individual type of thesis 553 00:49:47,800 --> 00:49:52,200 where we're relying on somebody else and it seems like blaming somebody else. 554 00:49:52,300 --> 00:49:55,740 And it seems like that's what's kind of going on right now 555 00:49:55,740 --> 00:50:00,280 in the current system that we're in is everybody's pointing it right, left, whoever, 556 00:50:00,860 --> 00:50:06,140 blaming all of these people for their problems instead of looking in the mirror. 557 00:50:06,340 --> 00:50:09,760 So it seems like there just needs that not only for, you know, 558 00:50:09,760 --> 00:50:12,540 I mean, I think in the Bitcoin space, a lot of us have done that. 559 00:50:12,760 --> 00:50:15,520 and to start to take that ownership. 560 00:50:16,380 --> 00:50:21,300 But what do you think has to be the big psychological shift in order to get there? 561 00:50:21,360 --> 00:50:27,720 Is it just not only educating from the podcast and other things like that, 562 00:50:27,780 --> 00:50:32,440 or is there some sort of other shift that you think has to take place 563 00:50:32,440 --> 00:50:35,600 in order for us to start to take more ownership? 564 00:50:36,720 --> 00:50:39,440 So it's a cognitive dissonance in us, right? 565 00:50:39,500 --> 00:50:40,560 That's really what it is. 566 00:50:40,560 --> 00:50:46,320 it's um when our when our view of the we don't want to believe like so i'm going to use my own 567 00:50:46,320 --> 00:50:52,480 personal i think i've used it on other podcasts before but it was really hard to believe so even 568 00:50:52,480 --> 00:50:57,520 though i know all of this was happening i wrote a book on it how it would accelerate one of the 569 00:50:57,520 --> 00:51:03,760 chapters was two of the chapters were on ai where ai would be today one of the chapters was us versus 570 00:51:03,760 --> 00:51:09,840 them what would cause what why would we would divide inside that system and that would be a 571 00:51:09,840 --> 00:51:15,380 natural conclusion of what would happen over and over and again. So it laid out exactly what would 572 00:51:15,380 --> 00:51:23,080 happen. I wrote a book on this and I found myself facing the same cognitive dissonance 573 00:51:23,080 --> 00:51:30,040 in understanding Bitcoin. For me, at first, it was a hedge against the system collapse, 574 00:51:30,460 --> 00:51:36,560 but I couldn't see that all of my actions from within the system were ensuring the system collapse. 575 00:51:36,560 --> 00:51:41,180 and in other words i was making i was still in the zero-sum game 576 00:51:41,180 --> 00:51:45,080 believing it was somebody else's fault 577 00:51:45,080 --> 00:51:53,180 speaking all over the world about bitcoin while still in the zero-sum game 578 00:51:53,180 --> 00:52:00,040 and and that was really hard for me to face and because because it was easy it was would be way 579 00:52:00,040 --> 00:52:06,100 easier to believe because what would a zero-sum game look like me winning would have to have an 580 00:52:06,100 --> 00:52:13,780 a counterparty somewhere else in the world losing from my winning. And so I wanted to tell myself 581 00:52:13,780 --> 00:52:19,840 that I was a successful entrepreneur or everything and what it looked like without looking at the 582 00:52:19,840 --> 00:52:26,800 counterparty in Africa or South America or Central America or a dictatorship that was caused by me 583 00:52:26,800 --> 00:52:35,920 winning. I didn't, it was too hard to face on my own reality, right? That I could be a contributor 584 00:52:35,920 --> 00:52:44,380 to somebody else's pain. Um, it would be easier to believe, Oh, I have no agency over that system. 585 00:52:45,060 --> 00:52:50,800 I'm going to just close my eyes to it and keep on operating here and tell myself a nice bedtime 586 00:52:50,800 --> 00:52:55,960 story that I was helping the world because of my, uh, my actions, right? 587 00:52:56,260 --> 00:53:00,000 Way easier to believe that it would match my view of myself. 588 00:53:01,860 --> 00:53:09,160 Only going through that hard, not whole, a realizing if I was inside a zero sum game, 589 00:53:09,160 --> 00:53:13,800 then not, and, and at the top of that zero sum game, there had to be somebody on the other side 590 00:53:13,800 --> 00:53:18,560 and understanding what would an infinite game look like where the free market actually worked. 591 00:53:18,560 --> 00:53:22,420 you could only gain more value by contributing more value to other people, 592 00:53:23,100 --> 00:53:28,240 had me face the hard fact that I was part of the problem. 593 00:53:29,620 --> 00:53:36,320 And I had to go through that challenge and the cognitive dissonance of that challenge 594 00:53:36,320 --> 00:53:40,160 and face the fact that I had a choice to make. 595 00:53:40,380 --> 00:53:42,760 I could move all of my time into the new system, 596 00:53:44,380 --> 00:53:47,380 or I could stay and tell myself a lie. 597 00:53:48,560 --> 00:53:53,580 but that's, that's what it's going to take for each one of us. 598 00:53:53,700 --> 00:53:56,360 And the more people that move their self in the new system, 599 00:53:56,460 --> 00:54:00,580 the new system and what I'm watching happen is my life is, is, 600 00:54:00,820 --> 00:54:05,300 is changed so positively because of meeting people. 601 00:54:05,300 --> 00:54:09,140 I wouldn't have met if I stayed that my, 602 00:54:09,140 --> 00:54:10,800 with my time in the other system. 603 00:54:11,260 --> 00:54:15,540 And what I see today is a totally different representation than I would have 604 00:54:15,540 --> 00:54:19,780 never had a chance of seeing from the other viewpoint. 605 00:54:19,780 --> 00:54:24,760 My reality was mirroring back at itself because I wasn't wanting to face the fact 606 00:54:24,760 --> 00:54:25,640 that I was part of it. 607 00:54:27,560 --> 00:54:31,900 And so now what I see, the beautiful thing, all of the beautiful entrepreneurs, 608 00:54:31,900 --> 00:54:37,600 the people that are changing this, that are creating a future reality for everyone, 609 00:54:38,560 --> 00:54:40,360 it is so powerful. 610 00:54:40,920 --> 00:54:44,900 But I also realized that I wouldn't have seen it in the other world. 611 00:54:44,900 --> 00:54:58,580 And so when I look at other people still trapped in the other world and I have empathy for them going through the same thing, their time telling themselves the same lie that I was telling myself, I can't do anything from this. 612 00:54:58,820 --> 00:55:00,500 It's those other people. 613 00:55:00,880 --> 00:55:02,020 Same exact lie. 614 00:55:02,920 --> 00:55:05,060 I understand why they do it, right? 615 00:55:05,100 --> 00:55:06,240 Because I see it in myself. 616 00:55:06,420 --> 00:55:08,300 I saw it in myself and I had to go through that. 617 00:55:08,300 --> 00:55:15,040 And why I'm totally just honest in sharing that is because until I saw it in myself, I didn't see it. 618 00:55:15,400 --> 00:55:28,500 It was a learning that I personally had to go through to get to the other side, to change my version of reality, which then touches a whole bunch of other people and changes theirs. 619 00:55:30,080 --> 00:55:31,060 That's beautiful. 620 00:55:31,060 --> 00:56:00,700 I think, you know, so essentially this new world would essentially, you know, unlocking the money, you know, as we say in Bitcoin, fix the money, fix the world would essentially have everybody just attempting to provide more value for every single person or everybody that you touch, opposed to, you know, maybe the new world or the current world that we're in right now that essentially, you know, we got to take shortcuts, you know, maybe screw somebody over. 621 00:56:00,700 --> 00:56:03,880 so you could maybe get one up on them, 622 00:56:04,480 --> 00:56:09,080 just kind of like fiat gains that follow the money, 623 00:56:09,080 --> 00:56:12,140 follow the incentives kind of aspect 624 00:56:12,140 --> 00:56:14,660 would essentially just be wiped out in the Bitcoin, 625 00:56:15,500 --> 00:56:17,420 in a hyper-Bitcoinized world? 626 00:56:17,740 --> 00:56:18,720 Is that kind of what you're thinking? 627 00:56:18,720 --> 00:56:20,080 It completely wipes out. 628 00:56:20,220 --> 00:56:23,040 So I posted something on Nostra recently. 629 00:56:23,580 --> 00:56:24,640 I think you could come to Bitcoin 630 00:56:24,640 --> 00:56:26,640 from a higher consciousness energy 631 00:56:26,640 --> 00:56:29,440 that you could see there's something there 632 00:56:29,440 --> 00:56:31,400 that I need to understand and explore, 633 00:56:31,840 --> 00:56:35,560 or you raise your consciousness over time in Bitcoin 634 00:56:35,560 --> 00:56:36,840 the longer you're in it. 635 00:56:37,560 --> 00:56:38,780 And that would be natural 636 00:56:38,780 --> 00:56:43,360 because you're operating in a truthful system. 637 00:56:43,680 --> 00:56:45,140 You're operating in an honest system. 638 00:56:45,760 --> 00:56:47,640 And so as you see more honesty 639 00:56:47,640 --> 00:56:48,980 and the more people around you 640 00:56:48,980 --> 00:56:50,260 that are operating from that, 641 00:56:50,520 --> 00:56:51,980 still people trying to cheat it, 642 00:56:52,120 --> 00:56:54,380 still people trying to take shortcuts and such. 643 00:56:54,680 --> 00:56:57,200 But as you move your time 644 00:56:57,200 --> 00:56:59,240 to more of the people who are honest, 645 00:56:59,440 --> 00:57:05,320 it just reflects back at you and you see it everywhere and you see the, 646 00:57:05,420 --> 00:57:07,580 yes, there's a whole bunch of people still going through this. 647 00:57:07,580 --> 00:57:11,120 There's a whole bunch of people trying to, to consolidate, cheat it, 648 00:57:11,540 --> 00:57:17,020 shit coins, nonsense. And you just forget those people. You do you, right? 649 00:57:17,220 --> 00:57:21,400 And you aggregate your life around people who are honest, 650 00:57:22,100 --> 00:57:25,680 hardworking, trying to create value for others. And you, uh, 651 00:57:25,940 --> 00:57:27,780 and your life gets better as a result. 652 00:57:29,440 --> 00:57:31,180 Nothing stops this train, right? 653 00:57:31,320 --> 00:57:31,800 It seems like. 654 00:57:32,060 --> 00:57:32,740 Nothing stops this train. 655 00:57:33,260 --> 00:57:34,600 Yeah, exactly. 656 00:57:34,820 --> 00:57:39,300 Well, we've got, you know, a big exciting time, it seems like, ahead of us. 657 00:57:39,300 --> 00:57:56,380 So what's something that you're really looking forward to as we're coming to the last quarter of this year and potentially, you know, next year as we're, you know, it seems like just Bitcoin, everybody's rapidly adopting and things, events all over the world are getting bigger and bigger. 658 00:57:56,520 --> 00:57:57,560 More people are coming online. 659 00:57:57,560 --> 00:58:01,680 So what's something that you're looking forward to here in the next few months to a year? 660 00:58:03,220 --> 00:58:04,540 It's just more of this. 661 00:58:04,660 --> 00:58:08,580 Like, I can't believe I get to do what I get to do with people I get to do it with. 662 00:58:08,620 --> 00:58:20,540 I just literally can't believe I pinch myself every day that just by learning, by the curiosity to to understand something that was outside of my understanding and deep dive on onto this, 663 00:58:20,540 --> 00:58:26,660 that now I can impact and help people at that type of level 664 00:58:26,660 --> 00:58:28,800 as they go through their own process. 665 00:58:29,660 --> 00:58:34,220 So, yeah, every day I wake up and I just go, wow, 666 00:58:34,740 --> 00:58:36,220 like what a time to be alive. 667 00:58:36,220 --> 00:58:42,780 Like what a crazy, wild, just crazy time as we transition to this 668 00:58:42,780 --> 00:58:47,420 and the people I get to meet every day that are taking their own steps 669 00:58:47,420 --> 00:58:47,920 through this. 670 00:58:48,060 --> 00:58:49,260 It's just crazy. 671 00:58:49,260 --> 00:58:55,380 yeah 100 jeff you're a legend where can people find out more about what the great work that 672 00:58:55,380 --> 00:59:02,840 you're doing and everything that you got going on uh i do two two things jeffbooth.ca if you're 673 00:59:02,840 --> 00:59:08,020 looking for don't follow me on any social media unless you've gone to jeffbooth.ca and make 674 00:59:08,020 --> 00:59:13,540 making sure that that social media is an accurate reflection of me i will never ask for money 675 00:59:13,540 --> 00:59:18,080 I will never ask for, or I'll never shill a shitcoin. 676 00:59:19,480 --> 00:59:23,140 So if somebody is asking you for that, it's not me. 677 00:59:23,240 --> 00:59:24,060 I'm not on Instagram. 678 00:59:24,260 --> 00:59:25,060 I'm not on Facebook. 679 00:59:25,260 --> 00:59:26,520 I'm not on any of these things. 680 00:59:26,520 --> 00:59:30,720 But there's lots of versions of me trying to suck your money out that are on those. 681 00:59:32,960 --> 00:59:38,600 And then if your company inside this space looking for capital, wanting to, 682 00:59:39,360 --> 00:59:42,520 then it would be Jeff at EgoDeathCapital.capital. 683 00:59:43,540 --> 00:59:45,260 All right, I'll put all that in the show notes. 684 00:59:45,420 --> 00:59:46,760 Jeff's a legend of the space. 685 00:59:46,880 --> 00:59:48,380 Thank you so much for always coming on 686 00:59:48,380 --> 00:59:49,700 and sharing your wisdom, man. 687 00:59:49,760 --> 00:59:51,260 My mind always gets blown 688 00:59:51,260 --> 00:59:53,400 and I'm excited for the next time 689 00:59:53,400 --> 00:59:54,640 we see each other in person. 690 00:59:55,600 --> 00:59:56,480 Me too, Brandon. 691 00:59:56,580 --> 00:59:57,400 Really look forward to it.