1 00:00:00,000 --> 00:00:04,900 There's three hours left and she just starts bawling and crying and I like pull over and I'm 2 00:00:04,900 --> 00:00:12,380 like darling what's wrong she's like you I didn't get it like you you saved me you saved our family 3 00:00:12,380 --> 00:00:19,480 wow I bought all the way up to that you know 69k top in 2021 buying you know just aggressively all 4 00:00:19,480 --> 00:00:24,400 the way to the top as much as I could I just remember that sort of sinking feeling in your gut 5 00:00:24,400 --> 00:00:29,420 that feeling that oh my god like what if I'm wrong about this we might go a little bit lower 6 00:00:29,420 --> 00:00:36,480 we might very well could maybe 58k is the bottom but my point is i don't know i don't know exactly 7 00:00:36,480 --> 00:00:43,860 where that bottom is in 10 years is it going to make much of a difference if i you know timed the 8 00:00:43,860 --> 00:00:48,440 bottom absolutely perfectly i think bitcoin is incredibly mispriced right now and i'm going to 9 00:00:48,440 --> 00:00:52,340 take advantage of that mispricing to try and stack as much as i can because i think the dollar 10 00:00:52,340 --> 00:00:56,480 is very overvalued and bitcoin is very cheap right now 11 00:00:59,420 --> 00:01:03,920 G'day legends, welcome back to G'day Bitcoin. 12 00:01:04,100 --> 00:01:07,160 Joining me today is Walker from the Bitcoin podcast. 13 00:01:07,540 --> 00:01:10,320 If you haven't met Walker before, he's an outstanding man. 14 00:01:10,520 --> 00:01:15,060 Lawrence Lippard wrote, in my opinion, the greatest book on Bitcoin ever written. 15 00:01:15,520 --> 00:01:19,480 This man right in front of me was the narrator for the Audible book. 16 00:01:19,580 --> 00:01:20,520 Absolutely incredible. 17 00:01:20,680 --> 00:01:23,320 We've got an incredible story to be able to share. 18 00:01:23,320 --> 00:01:28,680 That absolutely changed my life with you, reading this book to my wife on a road trip. 19 00:01:28,680 --> 00:01:32,940 But before we get into that, Walker, it's been a little minute since you've been on the show. 20 00:01:33,020 --> 00:01:33,460 How are you doing? 21 00:01:33,840 --> 00:01:35,380 It's been far too long, Sean. 22 00:01:35,460 --> 00:01:36,320 Good to be back here. 23 00:01:36,420 --> 00:01:39,600 Yeah, I was honored when Larry asked me to narrate that book. 24 00:01:39,720 --> 00:01:41,480 I was very nervous about it. 25 00:01:41,820 --> 00:01:42,820 I hope I did it justice. 26 00:01:43,340 --> 00:01:44,180 I tried to. 27 00:01:44,360 --> 00:01:49,060 It was my first time narrating an audiobook, so I'm sure I made some mistakes, some things 28 00:01:49,060 --> 00:01:52,540 I would have done differently maybe, but I hope I still at least helped him get those 29 00:01:52,540 --> 00:01:54,840 words out there because I agree. 30 00:01:54,900 --> 00:01:56,880 I think it was a damn fine book. 31 00:01:56,880 --> 00:02:01,900 and I think it's one that was it's more approachable than some other bitcoin books I think and Larry 32 00:02:01,900 --> 00:02:06,540 his story the way he presented it I think was really just it was meaningful and it was a book 33 00:02:06,540 --> 00:02:10,200 that needed to be written and honestly timing couldn't have been better for it like it's going 34 00:02:10,200 --> 00:02:15,280 to look even better timing in the next couple of years I have a feeling yeah yeah for anyone that 35 00:02:15,280 --> 00:02:20,520 hasn't read the book Lawrence Lepard has broken down one of the most complex topics in the entire 36 00:02:20,520 --> 00:02:26,580 world which is money and how the system is broken how it's distorted to like in eighth grade reading 37 00:02:26,580 --> 00:02:32,360 level, but it's amazing stories. And what I say to people is because I give out a lot of books in 38 00:02:32,360 --> 00:02:38,280 regards to Bitcoin and like I love the Bitcoin standard, but I'll give it to people and they'll 39 00:02:38,280 --> 00:02:42,700 like give it back. And they're like, well, it's too much like brain fried where there's just a 40 00:02:42,700 --> 00:02:46,960 little bit easier, a little bit more approachable. And I think if anyone reads this front to back 41 00:02:46,960 --> 00:02:52,160 cover, not necessarily they're going to go out and like sell their house and buy a big bag of 42 00:02:52,160 --> 00:02:58,220 Bitcoin and stacked sets, but at least they can make an informed opinion or enough of an informed 43 00:02:58,220 --> 00:03:02,720 opinion to be able to be like, I'm really interested. I'm happy. Or yes, I need to pay 44 00:03:02,720 --> 00:03:07,900 further attention to this. I don't think there's any other single Bitcoin book that someone could 45 00:03:07,900 --> 00:03:11,780 read from front to back cover and then be like, yeah, no, enough. I'm not interested. I'm like, 46 00:03:11,880 --> 00:03:17,840 maybe read this book first and do it. But more personal to my situation, I've told this story 47 00:03:17,840 --> 00:03:24,820 so many times, Walker, but not to yourself personally. Over the four years previously 48 00:03:24,820 --> 00:03:30,300 before the book came out at the start of last year, I'd given my wife all the books and said, 49 00:03:30,380 --> 00:03:35,000 hey, can you read this? Can you read this? Because she just thought I was crazy and going out of my 50 00:03:35,000 --> 00:03:41,420 mind with the fiat system collapsing and everything going on. And obviously, now with everything that's 51 00:03:41,420 --> 00:03:46,460 coming out with Epstein files and stuff, you look pretty sane. But you're going down all these 52 00:03:46,460 --> 00:03:50,620 rabbit holes and people that aren't at the same time are like, what the hell is this kid on? 53 00:03:51,180 --> 00:03:57,760 So I blackmailed her into listening to the book. And we were going on a road trip down south. We 54 00:03:57,760 --> 00:04:03,180 had the car, the caravan. And I said, darling, we need to listen to this book on the way down. 55 00:04:03,300 --> 00:04:08,000 Oh, no, I don't want to listen to Bitcoin book. That's fine. I'm not coming on the road trip. 56 00:04:08,320 --> 00:04:12,760 She's like, you can't do that. I'm like, I'm not coming on the road trip. We either listen to this 57 00:04:12,760 --> 00:04:17,680 book or you're going by yourself or we're staying home. I don't give a fuck anymore. Like it's been 58 00:04:17,680 --> 00:04:22,940 four years. Let's go. And she's like, you can't do that. Blah, blah, blah. Anyway, we're doing it 59 00:04:22,940 --> 00:04:27,940 half the book on the way down. And then on the way back up, you know, two weeks later or whatever, 60 00:04:28,020 --> 00:04:32,880 there's three hours left and she just starts bawling and crying. And I like pull over. I'm 61 00:04:32,880 --> 00:04:39,200 like, darling, what's wrong? She's like, I didn't get it. Like you, you saved me. You saved our 62 00:04:39,200 --> 00:04:45,060 family and like I thought you were just crazy and I thought maybe it's just like this magic 63 00:04:45,060 --> 00:04:50,180 internet money and get rich quick scheme like I truly didn't get it like thank you so much and I 64 00:04:50,180 --> 00:04:55,740 was like just thank you for for finally reading the book she's like where was this book four years 65 00:04:55,740 --> 00:05:01,480 ago I'm like I tried to give you every other book like she's like why didn't he write this book I'm 66 00:05:01,480 --> 00:05:07,780 like fuck now you know and stuff and she'd still been stacking and stuff with it but yeah sort of 67 00:05:07,780 --> 00:05:13,640 like some of the other rabbit holes and like with the big print and just how it's mathematical like 68 00:05:13,640 --> 00:05:19,140 we we can't pinpoint the time but the way that larry um wrote it um but the one thing i would 69 00:05:19,140 --> 00:05:27,720 say when we first started listening to it is um she's like is this done by ai i'm like no she's 70 00:05:27,720 --> 00:05:31,540 like i can't listen to it i'm like i'm fucking happy to turn around she's like no no i'll try 71 00:05:31,540 --> 00:05:38,180 and then she like got into it and stuff and then it was um it was it was great i'm like no walker's 72 00:05:38,180 --> 00:05:43,600 a real person i've had him on the show he's a really good good man and stuff but dude truly 73 00:05:43,600 --> 00:05:51,600 thank you so much for changing my life well i'll i'll i'll relay that thanks straight to larry 74 00:05:51,600 --> 00:05:56,960 because he's the one i was just i have told but dude that's an amazing story like that's what i 75 00:05:56,960 --> 00:06:00,720 I mean, talk about like what any man would want to hear from somebody loves, right? 76 00:06:00,780 --> 00:06:02,260 Is just like, thank you. 77 00:06:02,580 --> 00:06:03,880 That must have been quite a moment. 78 00:06:04,600 --> 00:06:06,220 You shed a tear there too, didn't you? 79 00:06:06,280 --> 00:06:06,720 Be honest. 80 00:06:07,320 --> 00:06:07,520 Yeah. 81 00:06:08,340 --> 00:06:10,560 It still sort of chokes me up, man. 82 00:06:10,740 --> 00:06:14,180 And that was last year sometime. 83 00:06:14,640 --> 00:06:16,180 And it's just been remarkable. 84 00:06:16,180 --> 00:06:19,600 And like every dip since like Bitcoin's down at the moment. 85 00:06:19,600 --> 00:06:21,940 And her mom was worried or whatever. 86 00:06:22,160 --> 00:06:24,560 And she's like, fuck, mom, I don't even check the price. 87 00:06:24,560 --> 00:06:27,140 and she looks and she's like, Bitcoin's down a little bit. 88 00:06:27,200 --> 00:06:28,100 Should we be getting some more? 89 00:06:28,160 --> 00:06:29,700 I'm like, yeah, baby, we should be getting more. 90 00:06:29,960 --> 00:06:30,180 You know? 91 00:06:30,400 --> 00:06:32,880 And that's, you know, that's such a change. 92 00:06:32,920 --> 00:06:34,420 Instead of like a couple of years ago, 93 00:06:35,240 --> 00:06:38,280 like, why isn't it at, you know, $100,000 already 94 00:06:38,280 --> 00:06:40,200 or whatever, ever instead of just going $100,000. 95 00:06:41,460 --> 00:06:42,420 It's really good. 96 00:06:42,520 --> 00:06:45,540 And whether it's, you know, The Big Print by Lawrence Lepard, 97 00:06:45,540 --> 00:06:48,780 I think the best book to follow it up with is Parallel 98 00:06:48,780 --> 00:06:51,720 and then Eric Kaysen's book afterwards. 99 00:06:51,940 --> 00:06:53,460 It's just slipping my mind. 100 00:06:53,460 --> 00:06:58,120 uh crypto sovereignty crypto sovereignty i think that should be like the fifth book 101 00:06:58,120 --> 00:07:02,380 bitcoin book someone reads because it's so intense and it's incredible i think people 102 00:07:02,380 --> 00:07:07,520 need a little bit of foundation and stuff but like whatever books it is it would just 103 00:07:07,520 --> 00:07:13,960 get enough knowledge to be able to understand that like what happens with the price day-to-day 104 00:07:13,960 --> 00:07:19,080 is really no issue but before we hit record walker we were talking about like it feels like 105 00:07:19,080 --> 00:07:24,640 capitulation. There's people, you know, I had a Bitcoiner on the other day as well. And he had 106 00:07:24,640 --> 00:07:28,820 sold all this Bitcoin at the moment to be able to start a business, which I get like, 107 00:07:28,820 --> 00:07:35,060 that's the point of Bitcoin, to be able to use it like when you need it, which is great. And I 108 00:07:35,060 --> 00:07:40,500 really think that because of his personality and stuff, on the proviso, you can still buy Bitcoin, 109 00:07:40,620 --> 00:07:44,440 get in self-custody. He'll probably own it all back in a pretty short amount of time. I think 110 00:07:44,440 --> 00:07:50,020 he's pretty switched on pretty quick. I think for the average person though, that's like selling now 111 00:07:50,020 --> 00:07:54,960 and they're waiting like for 40k or something like that. I feel like that's a little bit scary, 112 00:07:55,060 --> 00:08:01,820 a little bit more dangerous. What are your thoughts in regards to people capitulating 113 00:08:01,820 --> 00:08:09,040 and panicking about the price? I would start off by saying, I get it. I feel it. I have been there. 114 00:08:09,040 --> 00:08:11,240 I haven't been in Bitcoin that long. 115 00:08:11,480 --> 00:08:14,060 Like it's just since 2020 when I started stacking, 116 00:08:14,160 --> 00:08:17,560 it was during COVID when I finally went down the rabbit hole 117 00:08:17,560 --> 00:08:18,760 and, you know, got deeper and deeper. 118 00:08:18,820 --> 00:08:20,540 And so then started wanting to stack more and more. 119 00:08:20,580 --> 00:08:24,840 And I bought all the way up to that, you know, 69K top in 2021. 120 00:08:25,080 --> 00:08:27,680 I mean, buying, you know, just aggressively all the way to the top, 121 00:08:27,700 --> 00:08:30,680 as much as I could, as much fiat as I had, I was putting it in. 122 00:08:31,080 --> 00:08:34,720 And then, you know, we went down. 123 00:08:35,080 --> 00:08:36,700 We went down a lot. 124 00:08:36,700 --> 00:08:43,500 but we went down to all the way down to 16k eventually and i remember on that way down still 125 00:08:43,500 --> 00:08:47,720 just i hadn't been in bitcoin very long then at all only you know like a year and a half or something 126 00:08:47,720 --> 00:08:55,380 and i just remember that sort of sinking feeling in your gut that feeling that oh my god like what 127 00:08:55,380 --> 00:09:01,200 if i'm wrong about this maybe all the bears were right maybe this thing is going to keep going 128 00:09:01,200 --> 00:09:06,980 lower and lower. And it went really, really, really low. You went from 69K, you went all the 129 00:09:06,980 --> 00:09:14,040 way down to 20K. I remember it bounced around 19K for a long time. Carla made a song about how long 130 00:09:14,040 --> 00:09:21,780 it was at 19K. And then it went all the way down to 16K. That 2022 bear market was rough. And I 131 00:09:21,780 --> 00:09:25,880 mean, it was longer than just 2022, right? But it went, we went from 69K where I'd bought the top 132 00:09:25,880 --> 00:09:29,680 and buying all the way down, continuing to buy down, trying to find more fiat, trying to create 133 00:09:29,680 --> 00:09:34,200 more value, trying to do what I can to buy. But I know that feeling, that feeling sucks when you 134 00:09:34,200 --> 00:09:40,160 watch what, you know, you, these fiat paper numbers just melt away. You still got the same amount of 135 00:09:40,160 --> 00:09:43,960 Bitcoin. You got more Bitcoin, hopefully than you did the day before. That doesn't change the natural 136 00:09:43,960 --> 00:09:49,640 human reaction of feeling like, damn, maybe, maybe I was wrong. Maybe I should sell and then I'll buy 137 00:09:49,640 --> 00:09:54,920 back lower. Right. And even if for folks that were around at 16 K when that was the bottom for 138 00:09:54,920 --> 00:10:00,600 Bitcoin was around 16K. Still, people were calling it's going to 10K. It's going to 8K. 139 00:10:00,620 --> 00:10:07,300 It's going to 5K. Maybe it's going back down to $1,000 a coin. It didn't. It then went on a slow 140 00:10:07,300 --> 00:10:14,720 and steady grind upwards to when it finally topped out again at 125. But my point is, I feel that 141 00:10:14,720 --> 00:10:19,800 pain. I have felt that pain. It was because I bought all the way up to the top at 69, then all 142 00:10:19,800 --> 00:10:24,520 the way down to the bottom at 16 that I can tell you and sit right here and say, this feels 143 00:10:24,520 --> 00:10:32,320 like it did around 19k it feels like right before it went down to 16k which was the bottom so i'm 144 00:10:32,320 --> 00:10:38,020 saying we might go a little bit lower we might very well could maybe 58k is the bottom 58k gang 145 00:10:38,020 --> 00:10:44,380 i'm bringing back defeated in there you know but my point is i don't know i don't know exactly where 146 00:10:44,380 --> 00:10:49,680 that bottom is it feels pretty close to me just gut feeling gut feeling could be completely wrong 147 00:10:49,680 --> 00:10:55,460 my guts, you know, often wrong. Right. But the point is, I don't know. And so I'm going to 148 00:10:55,460 --> 00:10:59,640 continue stacking here. I'm going to continue stacking here. Cause I'm getting way more sats 149 00:10:59,640 --> 00:11:04,300 for my dollars at this point than I was getting when Bitcoin was 125 K Sean, I didn't think 150 00:11:04,300 --> 00:11:08,400 maybe you didn't either. I didn't think we were going to be able to buy for so much longer under 151 00:11:08,400 --> 00:11:12,120 a hundred K. So I was wrong there. Right. I thought it was, I thought I was like, man, 152 00:11:12,720 --> 00:11:26,061 we about to take off even further 125 K that going to be nothing I was wrong there So again Don take everything I say with a grain of salt Do what you want with your money But when I see so many people so confident both Bitcoin bears and Bitcoiners who are like 153 00:11:26,161 --> 00:11:27,121 you know what, it's going lower, 154 00:11:27,221 --> 00:11:28,041 so I'm going to sell some, 155 00:11:28,101 --> 00:11:30,261 or the bears who are dancing on Bitcoin's grave saying, 156 00:11:30,761 --> 00:11:31,881 you know, told you so. 157 00:11:31,961 --> 00:11:33,901 Like when Peter Schiff starts taking victory laps, 158 00:11:34,441 --> 00:11:36,521 that's usually a pretty good sign. 159 00:11:37,081 --> 00:11:40,021 So my larger point here is that no one has a crystal ball. 160 00:11:40,661 --> 00:11:42,321 No one knows exactly where the bottom is. 161 00:11:42,721 --> 00:11:44,441 Bitcoin will find it and it will go higher. 162 00:11:44,441 --> 00:11:45,441 It will. 163 00:11:45,601 --> 00:12:11,581 So you either, unless you think Bitcoin is dead, like really dead, you think all the critics were right. It's finally dead this time. It's not going to stop at 58K or 40K or 30K. It's going to go to zero. Right. Do you think it's going to go to zero? Because I don't. And if Bitcoin doesn't go to zero, it's going to go as far away from zero as it possibly can. Because there is no limit to the big print. The big print is we're in the midst of it. Right. But we're just, we're just getting like the early innings of it, just a little smattering of it. 164 00:12:11,581 --> 00:12:17,701 So for me, I look at it and I say, okay, in five, 10 years, let's say in 10 years, 165 00:12:17,981 --> 00:12:22,381 because I've got a son now, I'm thinking in as long term as I possibly can in 10 years, 166 00:12:22,561 --> 00:12:29,381 is it going to make much of a difference if I timed the bottom absolutely perfectly 167 00:12:29,381 --> 00:12:31,781 and saved all my dry powder for then? 168 00:12:32,521 --> 00:12:34,761 Assuming I did time the bottom perfectly, I mean. 169 00:12:34,761 --> 00:12:39,041 So let's say I sold some of my sats and managed to buy back. 170 00:12:39,141 --> 00:12:40,681 I mean, sure, would I like to have twice the Bitcoin? 171 00:12:40,801 --> 00:12:41,121 Absolutely. 172 00:12:41,581 --> 00:12:46,281 Am I confident in my ability to know the bottom, to set a limit order right at the bottom and catch it perfectly? 173 00:12:46,901 --> 00:12:48,041 No, I'm absolutely not. 174 00:12:48,521 --> 00:12:50,761 So unless you are, I mean, again, do what you want with your money. 175 00:12:50,861 --> 00:12:54,641 You got to make, you know, every person should make their own financial decisions, their own monetary decisions. 176 00:12:55,121 --> 00:12:55,801 Do what you want. 177 00:12:56,301 --> 00:13:00,421 But for me, I look at this and I say, this is an opportunity that I didn't think I would have. 178 00:13:00,781 --> 00:13:05,661 I told myself when Bitcoin was at 125K and I was still buying, mind you. 179 00:13:05,661 --> 00:13:11,641 I told myself if it if it goes below 100k i'm gonna try to buy even harder than I already am 180 00:13:11,641 --> 00:13:14,421 You know, not just dcas but smash buy goes lower than that 181 00:13:14,421 --> 00:13:20,281 I'm gonna try to keep backing up the truck try to keep creating value keep getting more fiat or earning in bitcoin even better 182 00:13:20,281 --> 00:13:22,841 Try to get as much as I can that that has now happened 183 00:13:22,841 --> 00:13:27,821 And I think a lot of people probably tell themselves that story when bitcoin's ripping up you say oh well 184 00:13:27,821 --> 00:13:31,841 If it just dipped if it just dipped then I would then I would back the truck up, right? 185 00:13:31,841 --> 00:13:33,681 but then when the dip comes 186 00:13:33,681 --> 00:13:39,461 very few people are really ready for it. You know, when the dip comes in, your confidence is shaken. 187 00:13:39,461 --> 00:13:44,001 Like everybody loves buying when Bitcoin's ripping up. Everybody hates buying when Bitcoin's dropping 188 00:13:44,001 --> 00:13:49,681 down. But in reality, you know, again, I DCA every hour of the day with little amounts. 189 00:13:50,261 --> 00:13:53,261 But in reality, if you're going to do some smash buys, really back the truck up, 190 00:13:53,441 --> 00:13:58,361 you should be doing it when everybody else is freaking out. Yeah. But human nature is human 191 00:13:58,361 --> 00:14:02,661 nature, right? We want to buy when stuff is going up. We want to sell when it's going down, when we 192 00:14:02,661 --> 00:14:06,601 should be doing the exact opposite, but I'm not going to fix human nature. I'm not going to fix 193 00:14:06,601 --> 00:14:11,981 anyone here, but for me, at least Sean, I look at this and I say, wow, we have been gifted with an 194 00:14:11,981 --> 00:14:17,701 incredible opportunity to stack cheap stats for our dollars to go farther, further than I thought 195 00:14:17,701 --> 00:14:21,661 they would. And so I'm taking that opportunity with everything I can. I wish I had more dry 196 00:14:21,661 --> 00:14:26,221 powder. Sure. I wish I would have timed it better. I wish I would have turned off my DCA at just the 197 00:14:26,221 --> 00:14:30,721 right time. And then had all that saved up to smash by when Bitcoin wicked down as low as it 198 00:14:30,721 --> 00:14:35,201 could go, but I'm not perfect. I'm not a trader. I'm not great at timing the market. So I try to 199 00:14:35,201 --> 00:14:38,801 take as much time as I can in the market. I don't know if that's helpful for people, but at least 200 00:14:38,801 --> 00:14:44,581 for me, I remain insanely bullish because beyond like price stuff aside, right? Take the price 201 00:14:44,581 --> 00:14:50,101 stuff aside. This past year, I think, and I'd love your opinion on it too. But for me, it was 202 00:14:50,101 --> 00:14:55,961 kind of the most bullish year from an adoption and news standpoint. If you've still got your 203 00:14:55,961 --> 00:15:00,821 Bitcoin on exchange or you're looking to take your Bitcoin security to the next level. I've partnered 204 00:15:00,821 --> 00:15:06,101 with the Bitcoin way. They offer live help for setting up cold storage, running your own node, 205 00:15:06,261 --> 00:15:11,761 keeping your Bitcoin private, planning for the future, using multi-sig and so much more. 206 00:15:12,221 --> 00:15:17,441 They never touch your keys. They will not touch your coins. 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I have put a link into the description for everyone. Could not recommend 224 00:16:43,341 --> 00:16:47,161 them enough. I've used them personally before I ever partnered with them for the channel, 225 00:16:47,301 --> 00:16:52,061 friends and family. They asked me to help them out. I'm like, go to the world experts. That is 226 00:16:52,061 --> 00:16:57,781 the Bitcoin way. So reach out to the Bitcoin way today. Take the, take treasure, take micro 227 00:16:57,781 --> 00:17:01,121 strategy. I'm not talking about any of that. I'm talking about medium of exchange side of things. 228 00:17:01,121 --> 00:17:05,901 You had Square turning on 4 million merchants for the ability to accept Bitcoin. Thousands of 229 00:17:05,901 --> 00:17:11,001 them already doing so. That's huge. Just that news alone, I think was one of the most massive 230 00:17:11,001 --> 00:17:15,021 developments. You've got all this stuff happening on other layers. You've got developments on 231 00:17:15,021 --> 00:17:20,521 lightning and e-cash and spark and all of these things happening that are so bullish from medium 232 00:17:20,521 --> 00:17:25,581 of exchange perspective too, but the price isn't lining up. So there's a disconnect there. That 233 00:17:25,581 --> 00:17:30,641 tells me there's an asymmetry. Somebody has less information. Somebody has more. I think Bitcoin is 234 00:17:30,641 --> 00:17:35,381 incredibly mispriced right now. And I'm going to take advantage of that mispricing to try and stack 235 00:17:35,381 --> 00:17:40,981 as much as I can. Cause I think the dollar is very overvalued and Bitcoin is very cheap right now. 236 00:17:41,001 --> 00:17:48,781 rant concluded amen to that brother you know like as well as square some of the big what was that 237 00:17:48,781 --> 00:17:53,241 burger place that you just have over there steak and shake steak and shake like that was pretty 238 00:17:53,241 --> 00:17:59,041 massive and like they tried it they did their toes in or whatever and then they i think they 239 00:17:59,041 --> 00:18:04,301 mentioned crypto and they got like hardcore pushback against the like okay bitcoin only and 240 00:18:04,301 --> 00:18:08,181 then they've gone out and then they've bought more bitcoin and they're talking about paying their 241 00:18:08,181 --> 00:18:14,061 employees and like 25 cents per hour extra in Bitcoin that they get after four years working 242 00:18:14,061 --> 00:18:19,041 there. Like those things are absolutely like insane. Like who would have thought? And I 243 00:18:19,041 --> 00:18:23,241 probably wouldn't, I don't know if I'd eat steak and shake or not. I don't know how healthy is, 244 00:18:23,241 --> 00:18:27,881 but since they've done that, they've gone and they've started pushing out like tallow and things 245 00:18:27,881 --> 00:18:35,041 like that. Um, like in their deep fryers and like, that's pretty incredible. If fast food restaurant 246 00:18:35,041 --> 00:18:39,301 aligning with Bitcoin. You get the Bitcoin is supporting them, then they're going out and now 247 00:18:39,301 --> 00:18:43,401 they're supporting their staff. They're changing towards more healthy. I don't know if they're 248 00:18:43,401 --> 00:18:48,161 already healthy or you'd class it as healthy or not, but they're moving like in the right direction 249 00:18:48,161 --> 00:18:52,881 simply because they've gotten onto a Bitcoin standard. And that's one place. Was it like 250 00:18:52,881 --> 00:18:58,441 spa over in Switzerland, like all the convenience stores and stuff are accepting that? Like it is 251 00:18:58,441 --> 00:19:04,421 really, really ramping up. But I guess sort of what I want to ask you is we have had all this 252 00:19:04,421 --> 00:19:09,121 adoption and stuff. And there's talk about like the strategic Bitcoin reserve, which is very much 253 00:19:09,121 --> 00:19:14,301 like the stolen Bitcoin reserve. And it very much looks like there's nation states stacking 254 00:19:14,301 --> 00:19:20,341 this secretly. You know, Qatar was mining for many years without people knowing and stuff. 255 00:19:20,981 --> 00:19:26,941 But since the Wall Street and stuff has come in here, and I'm not a fan of any of the treasury 256 00:19:26,941 --> 00:19:32,561 companies, I think it's degeneracy and it's not Bitcoin. Bitcoin is Bitcoin and self-custody to 257 00:19:32,561 --> 00:19:33,901 I mean, that's freedom technology. 258 00:19:34,181 --> 00:19:40,401 The other things I think is like a speculation or it's an investment play, but it's not like 259 00:19:40,401 --> 00:19:40,841 sovereignty. 260 00:19:41,041 --> 00:19:44,421 And that's what I'm really chasing is fix the money, fix the world in the words of Lawrence 261 00:19:44,421 --> 00:19:44,821 Lippard. 262 00:19:44,821 --> 00:19:49,981 But since sort of they came in here, that's where I reckon a little bit of this manipulation 263 00:19:49,981 --> 00:19:51,121 stuff is going. 264 00:19:51,221 --> 00:19:52,561 But we know the nature of Bitcoin. 265 00:19:52,721 --> 00:19:53,361 It's just math. 266 00:19:53,481 --> 00:19:57,041 What's your thoughts in regards to the suit coiners? 267 00:19:57,861 --> 00:19:59,261 Like, how do you perceive them? 268 00:20:00,341 --> 00:20:01,921 I mean, I feel the sentiment. 269 00:20:01,921 --> 00:20:05,681 So I think that it's one, I'll say two things on this. 270 00:20:05,801 --> 00:20:08,981 I think that it was inevitable, just like nation state stacking. 271 00:20:09,841 --> 00:20:12,701 We don't, doesn't matter if we like it, if we don't, you know, Bitcoin's for anyone. 272 00:20:12,861 --> 00:20:13,941 Bitcoin's for the nation state. 273 00:20:14,061 --> 00:20:15,161 It's for the suit coiners. 274 00:20:15,281 --> 00:20:16,701 Whether it doesn't matter if we like it or not. 275 00:20:16,821 --> 00:20:21,241 Bitcoin is for three letter agencies to use as a slush fund, right? 276 00:20:21,341 --> 00:20:22,921 Bitcoin's for anyone who wants to use it. 277 00:20:23,621 --> 00:20:29,021 Now, whether or not they, the treasury companies have been, let's say, kind of good for adoption, 278 00:20:29,141 --> 00:20:31,261 which I think is maybe the larger question, right? 279 00:20:31,261 --> 00:20:35,721 But one thing that I'm forgetting, I think it was Mauricio DiBardo-Lomeo from Aladdin 280 00:20:35,721 --> 00:20:40,821 had said basically that the blow-off top, like we didn't have a really big blow-off top 281 00:20:40,821 --> 00:20:41,481 in this cycle. 282 00:20:41,561 --> 00:20:45,161 You know, it was kind of like, okay, it went up to 125K, but it didn't really get like 283 00:20:45,161 --> 00:20:46,541 into a manic phase, right? 284 00:20:46,701 --> 00:20:47,281 That's right. 285 00:20:47,381 --> 00:20:50,341 He was saying basically the blow-off top was in these treasury companies that went and 286 00:20:50,341 --> 00:20:53,741 many are down, you know, 99 to 90% right now. 287 00:20:53,881 --> 00:20:55,161 I dabbled in a couple of these. 288 00:20:55,161 --> 00:20:59,841 I sometimes buy some stocks to remind myself what a bad trader I am. 289 00:20:59,841 --> 00:21:05,081 we're talking like a very, very, very small, like I'm not going in any size. Right. But I do 290 00:21:05,081 --> 00:21:09,481 it to remind myself that I'm a bad trader. The only good stock purchases I've made have been 291 00:21:09,481 --> 00:21:13,761 like some Bitcoin miners that I bought when they were very cheap. And again, you know, small, 292 00:21:13,921 --> 00:21:18,341 small amounts. I'm putting basically everything I possibly can into Bitcoin. I don't put any new 293 00:21:18,341 --> 00:21:22,521 money into stocks, just what I can play around with that was already there. Right. My point being 294 00:21:22,521 --> 00:21:28,741 a lot of people got wrecked from this and you know, these, a lot of these treasury companies, 295 00:21:28,741 --> 00:21:31,661 I think there's also like strategy is obviously on a different level, right? 296 00:21:31,921 --> 00:21:34,581 Saylor has a different, a different long-term vision. 297 00:21:34,681 --> 00:21:35,841 And that's the key thing. 298 00:21:35,881 --> 00:21:37,921 His vision is very, very long-term. 299 00:21:38,021 --> 00:21:39,341 He's not thinking next year. 300 00:21:39,541 --> 00:21:42,861 He's thinking, you know, next decade, two decades, 21 years out, right? 301 00:21:43,341 --> 00:21:47,261 So I think it's important to separate Saylor and strategy from some of the rest of these 302 00:21:47,261 --> 00:21:47,921 treasury companies. 303 00:21:47,961 --> 00:21:51,881 I'm not saying that there, there aren't perhaps some other good ones that do have underlying 304 00:21:51,881 --> 00:21:56,241 business models like Bitcoin business models that are maybe going to survive. 305 00:21:56,241 --> 00:21:58,341 I think a lot of them are going to die off. 306 00:21:58,741 --> 00:22:03,461 Now, I think that also, though, eventually every company becomes a Bitcoin treasury company, 307 00:22:03,761 --> 00:22:05,601 but just not from a marketing perspective. 308 00:22:05,901 --> 00:22:10,261 It's just going to be the reality that, of course, every publicly traded company, private 309 00:22:10,261 --> 00:22:14,781 company, even every mom and pop shop is going to hold Bitcoin on their balance sheet because 310 00:22:14,781 --> 00:22:16,501 what else are you going to hold, right? 311 00:22:16,541 --> 00:22:17,521 You don't want to hold dollars. 312 00:22:17,901 --> 00:22:18,901 You don't want to hold T-bills. 313 00:22:19,041 --> 00:22:21,721 Bitcoin makes sense for companies to have. 314 00:22:21,801 --> 00:22:22,581 It makes sense for individuals. 315 00:22:22,701 --> 00:22:23,721 It makes sense for nation states. 316 00:22:24,061 --> 00:22:24,661 Bitcoin is winning. 317 00:22:24,661 --> 00:22:25,801 This is a symptom of it winning. 318 00:22:26,241 --> 00:22:35,781 That being said on the treasury company side, you know, boy, I would not recommend anybody get into treasury companies instead of Bitcoin. 319 00:22:35,781 --> 00:22:47,362 Like this isn a substitute for Bitcoin in cold storage This is trying to get some increased volatility on Bitcoin performance But just like with shit coins and I not saying treasury companies 320 00:22:47,362 --> 00:22:51,722 are shit coins, guys, I'm just using a comparison. But just like shit coins, yeah, they may have more 321 00:22:51,722 --> 00:22:55,342 volatility to the upside, which can be good, but they can also have a heck of a lot more 322 00:22:55,342 --> 00:23:00,142 volatility to the downside. And unless you are willing to stare at charts all day long, 323 00:23:00,162 --> 00:23:03,702 or you get in, if you have a bunch of money and you get in one of these investment rounds before 324 00:23:03,702 --> 00:23:08,402 they go public or do their SPAC or whatever it is, then maybe that's a different story for you. 325 00:23:08,562 --> 00:23:14,422 But again, I will always recommend that you should just DCA into real Bitcoin. Once you have a large 326 00:23:14,422 --> 00:23:19,062 enough UTXO, you should withdraw that to cold storage and you should keep it in your own self 327 00:23:19,062 --> 00:23:23,802 custody. And that is the best advice I can give anyone. I won't tell people to buy anything else. 328 00:23:23,902 --> 00:23:28,442 I may dabble in some other things and with very small amounts, but I will never recommend that 329 00:23:28,442 --> 00:23:33,282 somebody else do that because you're probably going to get wrecked. Again, not saying all these 330 00:23:33,282 --> 00:23:37,602 business models are bad. Many of them don't have business models besides we're buying Bitcoin and 331 00:23:37,602 --> 00:23:44,682 buy our stock. But it's like, for me, I think that they are an inevitable byproduct of Bitcoin 332 00:23:44,682 --> 00:23:48,882 winning. I think it was natural that they came. I think that people should just buy regular Bitcoin, 333 00:23:49,382 --> 00:23:52,842 but you should do whatever you want with your money. At the end of the day, like the point of 334 00:23:52,842 --> 00:23:57,342 Bitcoin is that you should do what you want to do. That means buying treasury companies, 335 00:23:57,342 --> 00:24:02,722 go for it. If that means buying shit coins, boy, I'd really, really highly advise that you don't 336 00:24:02,722 --> 00:24:06,842 do that but hey if you feel like losing money that's on you uh i don't know if that answers 337 00:24:06,842 --> 00:24:12,802 the question but uh we interrupt this video to bring you a really quick psa how safe and secure 338 00:24:12,802 --> 00:24:18,342 is your bitcoin seed phrase so many people still hold their 12 or 24 words on paper then they sort 339 00:24:18,342 --> 00:24:23,802 of upgrade to something like this this is a titanium version it does hold all 24 words but 340 00:24:23,802 --> 00:24:29,842 look how big it is this device this revolutionizes that it changes it makes it so much more secure 341 00:24:29,842 --> 00:24:36,482 what this does you can see there's a one inch washer on there it comes with these punches that 342 00:24:36,482 --> 00:24:41,942 are almost microscopic they give you a magnifying glass to be able to see the end of them because you 343 00:24:41,942 --> 00:24:48,802 really can't read what that says and then they give you titanium washers nylon washers think 344 00:24:48,802 --> 00:24:55,042 about this for x-rays body scanners metal detectors border passes just around the house with the metal 345 00:24:55,042 --> 00:25:00,562 detector one stainless steel as well these are great for hot wallets the titanium it's going to 346 00:25:00,562 --> 00:25:08,002 survive a house fire but this compared to this look at the size difference to it you could fit 347 00:25:08,002 --> 00:25:14,982 eight of these on this one plate yet it still contains all 24 words imagine how easy that is 348 00:25:14,982 --> 00:25:19,922 to be able to hide now the team have given a discount code for everyone there is a link below 349 00:25:19,922 --> 00:25:25,742 now back to the show yeah yeah close enough and i very much reflect those thoughts well i really 350 00:25:25,742 --> 00:25:29,842 don't care what people do with their own money but with with those things i think you just need 351 00:25:29,842 --> 00:25:33,842 to go in and you need to be able to time it which means you need to have the skill set to be able to 352 00:25:33,842 --> 00:25:39,022 look at charts know when a good entry and exit point and stuff is and that's not me and i'm sure 353 00:25:39,022 --> 00:25:45,702 that's plenty of people out there that can do that but i i guess like the average person is busy 354 00:25:45,702 --> 00:25:49,902 working their nine to five or whatever that needs to store their economic purchasing power and then 355 00:25:49,902 --> 00:25:53,622 And to be able to stack more skills, to be able to earn more fear, 356 00:25:53,722 --> 00:25:55,942 have a side hustle or something on the side, 357 00:25:56,142 --> 00:25:59,402 to be able to build something or to be able to save in the Bitcoin, 358 00:25:59,542 --> 00:26:02,042 to be able to back themselves and then go out and build, 359 00:26:02,282 --> 00:26:05,702 I think that's the easiest way for the most amount of people to win 360 00:26:05,702 --> 00:26:07,122 is just keep it super simple. 361 00:26:07,122 --> 00:26:13,022 But for some people that time it and bought MicroStrategy like super low, 362 00:26:13,142 --> 00:26:16,502 sold it at the top and bought it and trade and play around with it and stuff 363 00:26:16,502 --> 00:26:19,062 can be highly lucrative. 364 00:26:19,062 --> 00:26:23,482 but it's not very productive, I think, like looking at a screen and charts and everything 365 00:26:23,482 --> 00:26:29,202 like that. I want to like super hard pivot. In Australia, there's been like research in central 366 00:26:29,202 --> 00:26:35,202 bank digital currencies for I think like 11 or 12 years now. Like we're with the research and stuff 367 00:26:35,202 --> 00:26:40,402 we're like really quite far ahead, which is scary as in a central bank digital currency is just like 368 00:26:40,402 --> 00:26:45,642 digital shackles. It's a slave coin. And then they pair that with like digital IDs. They're trying to 369 00:26:45,642 --> 00:26:50,922 push out digital IDs through like different under 16 social media bands and stuff. And they're just 370 00:26:50,922 --> 00:26:56,362 like little Trojan horse and they take like more and more, more freedom away. Now, the way that I 371 00:26:56,362 --> 00:27:01,122 want to phrase this question, Walker, is America is like the country of free speech, the land of 372 00:27:01,122 --> 00:27:07,802 free speech and stuff. But we've really seen like the White House and stuff back these stable coins 373 00:27:07,802 --> 00:27:13,042 that are going out to be able to like support the dollar and stuff like that. I think these stable 374 00:27:13,042 --> 00:27:18,782 stablecoins as sort of like a backdoor central bank digital currency. We're already seeing 375 00:27:18,782 --> 00:27:24,922 very similar to like just bank transactions and stuff. Somebody calls up Tether or whatever says, 376 00:27:25,302 --> 00:27:30,402 like cancel that payment or whatever, stop it, block it. And it's happening. What are your 377 00:27:30,402 --> 00:27:37,522 thoughts in regards to stablecoins? And are they there to try to support the dollar for a little 378 00:27:37,522 --> 00:27:40,962 bit longer? Or maybe they're a little bit sinister? Are they a little bit both? Like, 379 00:27:40,962 --> 00:27:43,722 how do you think about it? I don't know. I don't want to put any words in your mouth. 380 00:27:44,162 --> 00:27:48,842 Yeah. So, okay. A couple of points there. I think, first of all, in terms of stable coin adoption, 381 00:27:49,022 --> 00:27:52,362 the majority of it is happening outside of the U S if we're talking about like, 382 00:27:52,362 --> 00:27:55,822 uh, you know, U S dollar pegged stable coins, which are obviously the, 383 00:27:56,042 --> 00:27:58,562 I'm sure there's probably some other stable coins out there pegged to other stuff, 384 00:27:58,602 --> 00:28:02,662 but everybody wants the dollar stable coins because everybody wants the dollar in the U S. 385 00:28:02,742 --> 00:28:06,062 Most people don't have that much of a use for it because we have the U S banking system, 386 00:28:06,062 --> 00:28:12,002 right? Which sucks, but is also so much better than what most of the world has. Most of the world 387 00:28:12,002 --> 00:28:16,842 doesn't have banks. Most of the world doesn't have access to banks. You look at people in 388 00:28:16,842 --> 00:28:22,922 the global South, they want dollars. Many of them also want Bitcoin and use Bitcoin. And we see 389 00:28:22,922 --> 00:28:26,782 so much incredible adoption, both in the store of value, but also very much in the medium of 390 00:28:26,782 --> 00:28:31,602 exchange Bitcoin side from the global South, because they have an acute problem they need to 391 00:28:31,602 --> 00:28:36,322 solve. Their problem is they've got terrible local currencies. They can't transfer those 392 00:28:36,322 --> 00:28:41,042 currencies outside their country for the most part. And they may not even have access to a bank 393 00:28:41,042 --> 00:28:46,382 account in the first place. So for them, I see why both Bitcoin, of course, but also stable coin 394 00:28:46,382 --> 00:28:51,422 adoption is higher than Bitcoin adoption in most places like that, right? Because people want what 395 00:28:51,422 --> 00:28:55,882 they know. They want dollars. It doesn't matter that, you know, the dollars, the prettiest horse 396 00:28:55,882 --> 00:29:00,602 at the glue factory, you know, the shit coin of all fiat shit coins. It's so much better than 397 00:29:00,602 --> 00:29:04,622 anything they have and to be able to have something that they can transfer internally and externally 398 00:29:04,622 --> 00:29:09,162 around the world speed of light that's really useful whether or not to your question of are 399 00:29:09,162 --> 00:29:17,942 these a backdoor for cbdcs maybe maybe i think there's a chance of that but the question is like 400 00:29:17,942 --> 00:29:24,202 ultimately if you have privately issued stable coins versus a centrally issued now of course 401 00:29:24,202 --> 00:29:28,482 the stable coins are centrally issued i should clarify that like very much the case they can stop 402 00:29:28,482 --> 00:29:34,162 any transaction that they want to, right? They have complete control over it. This is not Bitcoin, 403 00:29:34,462 --> 00:29:38,322 right? This is something else. They serve a purpose for a lot of people around the world. 404 00:29:38,642 --> 00:29:42,382 They help a lot of people in developing countries who want and need to use that. 405 00:29:43,042 --> 00:29:47,622 I don't know if they end up somehow getting, you know, co-opted and used by the state. 406 00:29:47,742 --> 00:29:53,522 I think it actually benefits the U.S. government more to keep them independent because then they 407 00:29:53,522 --> 00:29:58,122 get to kind of eat their cake and have it too. They get to basically say, look, we're not issuing 408 00:29:58,122 --> 00:30:03,002 any sort of stablecoin, CBDC, whatever. These are private companies doing that. In America, 409 00:30:03,002 --> 00:30:06,742 we support innovation. And so we're going to do that. By the way, they're some of the biggest 410 00:30:06,742 --> 00:30:11,482 buyers of treasury bonds out there, right? They're buying massive amounts of these things. That's 411 00:30:11,482 --> 00:30:16,902 good for the US treasury. So I think that they would almost rather keep these things separate. 412 00:30:17,742 --> 00:30:25,382 Now, if the stablecoins start also implementing other features and expiries and things like that, 413 00:30:25,382 --> 00:30:29,922 it could be, that would basically be how CBDC would be implemented, right? You know, money that 414 00:30:29,922 --> 00:30:34,342 has to be spent right now, or it's going to disappear or whatever. Then I think people 415 00:30:34,342 --> 00:30:38,642 stop using those stable coins. I do think that it's very important that we continue to push to 416 00:30:38,642 --> 00:30:43,942 retain our right to use physical cash. And the dollar may be a shit coin, but physical cash, 417 00:30:43,942 --> 00:30:49,062 wherever you are in the world, not just the US dollar, but physical euros, physical Canadian 418 00:30:49,062 --> 00:30:56,182 moose shekels, whatever. Physical cash is great. Physical cash is the ultimate way to transact 419 00:30:56,182 --> 00:31:01,402 really, really, really privately. That's why drug dealers love to use the US dollar and they don't 420 00:31:01,402 --> 00:31:06,082 like to use Bitcoin because Bitcoin can be traced. It's publicly auditable, right? The dollar, if 421 00:31:06,082 --> 00:31:10,842 you're exchanging cash, just you and that other person know about that. That's a great way to move 422 00:31:10,842 --> 00:31:16,342 money around very privately. Now, again, for stable coins, I go back and forth in this, honestly, 423 00:31:16,342 --> 00:31:22,402 Sean, because I do see, and I've talked to people and seen lots of stories about how much they are 424 00:31:22,402 --> 00:31:30,062 used in so many developing countries across the global South. And that's a very definite, 425 00:31:30,402 --> 00:31:35,062 indisputable benefit to those people. It's so much better than what they have now. And we can 426 00:31:35,062 --> 00:31:39,882 all sit here and say from our podcast studios, we can say, well, they should just use Bitcoin instead. 427 00:31:39,882 --> 00:31:42,662 Okay, sure, but they're not 428 00:31:42,662 --> 00:31:46,782 They are a lot of them, but they want dollars. They want to use dollars 429 00:31:46,782 --> 00:31:49,922 It's not again. I'm all for people doing what they want with their money 430 00:31:49,922 --> 00:31:53,582 So from my perspective, I say hey if you want to use stable coins, especially 431 00:31:53,582 --> 00:31:57,382 You know around in the non-us part of the world, which is the most of it 432 00:31:57,382 --> 00:31:59,602 Which is most of where stable coins are used 433 00:31:59,602 --> 00:32:02,602 I think that's a good thing. I think you should be able to do that 434 00:32:02,602 --> 00:32:09,742 I think you should have credible ways to not use your local terrible terrible fiat currency and use a slightly less bad 435 00:32:09,742 --> 00:32:15,222 fiat currency like the US dollar. Do I think that ultimately those people are going to end up using 436 00:32:15,222 --> 00:32:21,182 Bitcoin? I do. I do. But I think that right now we're at a point in adoption where it's a lot 437 00:32:21,182 --> 00:32:27,042 more comfortable for somebody to use a US dollar stable coin when they've wanted dollars for years. 438 00:32:27,042 --> 00:32:30,762 Now they have a way to transact in dollars digitally. Doesn't matter if that can be frozen, 439 00:32:30,882 --> 00:32:35,302 whatever. They just, they want dollars versus trying to get them to go over to Bitcoin as their 440 00:32:35,302 --> 00:32:40,642 first step. I think stable coins honestly end up presenting a pretty nice bridge to Bitcoin adoption 441 00:32:40,642 --> 00:32:44,202 because if you can get used to using stable coins, well, you can get used to using Bitcoin, 442 00:32:44,422 --> 00:32:49,602 right? That's less of a far leap than going from zero to Bitcoin. Again, it's like one of those 443 00:32:49,602 --> 00:32:53,362 things where you got to meet people where they are, not necessarily where you want them to be. 444 00:32:53,722 --> 00:32:58,102 You and I would both love to see people just using Bitcoin, right? But the reality is that 445 00:32:58,102 --> 00:33:01,862 that's not what they're doing because it's not what they want to do right now. And we'll see on 446 00:33:01,862 --> 00:33:05,822 the CBDC side. I'm sorry, you guys are farther, you're farther along than I realized with that. 447 00:33:05,922 --> 00:33:08,142 I didn't realize that research had been going on that long down under. 448 00:33:08,442 --> 00:33:13,682 Real long time. And for anyone that doesn't believe me, just Google Australian CBDC and 449 00:33:13,682 --> 00:33:19,382 it'll come up the Reserve Bank of Australia. Like first, first thing, and it's crazy. And they talk 450 00:33:19,382 --> 00:33:23,922 about it and they're like, not sure if this will be for the banks only in the institutions or retail 451 00:33:23,922 --> 00:33:29,122 or whatever, but it's the slowly then suddenly. And, you know, they are trying more and more and 452 00:33:29,122 --> 00:33:34,642 more to shut down free speech anything happens it doesn't matter if it's the the left throwing rocks 453 00:33:34,642 --> 00:33:39,342 at coppers or whatever it's the far right white extremists that are the problem and things like 454 00:33:39,342 --> 00:33:44,262 that it's just like they are just trying to distort everything to be able to like for the 455 00:33:44,262 --> 00:33:49,522 state to be able to get more and more and more power to suppress more and more and more um like 456 00:33:49,522 --> 00:33:54,302 every area and i guess that's why i'm just fuck the treasury companies fuck the stable coins it's 457 00:33:54,302 --> 00:33:55,882 Bitcoin in self custody only. 458 00:33:55,882 --> 00:34:08,923 It your money it your choice But for like where we are and I think the way that you could relate it or like very similar is like england and canada would be sort of very close to to where we are and you know some parts 459 00:34:08,923 --> 00:34:13,323 were ahead and other parts were a little bit more relaxed and stuff but we'll um see what happens 460 00:34:13,323 --> 00:34:17,282 you know the the uni party and everything in charge think of it i want to make it real clear 461 00:34:17,282 --> 00:34:21,762 for people you mentioned the and i think this is super important you connected dots here that not 462 00:34:21,762 --> 00:34:26,423 everyone is connecting but is really important to think about as it relates to the verification 463 00:34:26,423 --> 00:34:31,462 of IDs to be able to use various online services to protect the kids, of course, right? Just the 464 00:34:31,462 --> 00:34:35,962 under 16s. That's it. But of course, everybody has to ID so that we can tell who's an under 16, 465 00:34:36,082 --> 00:34:43,782 right? That combined with CBDCs is their goal. Their goal is to connect your physical identity 466 00:34:43,782 --> 00:34:49,802 with your digital identity and then have your currency tied to both so that anytime you step 467 00:34:49,802 --> 00:34:55,302 out of line, they can freeze your money. And this is where, again, when it comes to stable coins, 468 00:34:55,302 --> 00:35:00,143 like stable coins are not they're not freedom money right jeff booth calls them guaranteed 469 00:35:00,143 --> 00:35:04,222 lost coins not stable coins because they're tied to something that is guaranteed to lose money 470 00:35:04,222 --> 00:35:07,942 all of the i should probably added this caveat before but all the things i said about positive 471 00:35:07,942 --> 00:35:13,423 stable coin adoption which i believe and are undeniably true yeah you should also know that 472 00:35:13,423 --> 00:35:19,383 they do not solve the problems that bitcoin solves they are not unconfiscatable uncensorable 473 00:35:19,383 --> 00:35:25,323 bearer instruments, right? They're guaranteed loss coins. They serve a purpose and they do that 474 00:35:25,323 --> 00:35:28,823 really well. And those companies are really profitable because they're providing a service 475 00:35:28,823 --> 00:35:34,302 people want. That's a good thing. People should be able to use it. But if you want uncensorable, 476 00:35:34,523 --> 00:35:41,043 unconfiscatable money that cannot be debased by a centralized group, Bitcoin is your only option 477 00:35:41,043 --> 00:35:45,242 there. So just wanted to add on that. And it's the only option that will make sure that you will 478 00:35:45,242 --> 00:35:52,182 be able to both to retain your anonymity, let's say, or pseudonymity online and not have every 479 00:35:52,182 --> 00:35:58,323 damn thing you do tied back to your digital ID because it's physical ID tied to digital world. 480 00:35:58,563 --> 00:36:02,863 Okay, let's just do a full digital ID for everything. Let's tie that to a CBDC. Let's 481 00:36:02,863 --> 00:36:07,903 implement a Chinese style social credit system. Boom, we've got our perfect totalitarian dystopia 482 00:36:07,903 --> 00:36:13,962 all lined up, ready to go. So we should resist this at every turn. Very much so. I went to sign 483 00:36:13,962 --> 00:36:19,123 up for a P.O. Box like two months ago or something and the only way that I could do it was by 484 00:36:19,123 --> 00:36:24,823 creating a digital ID online like fuck no I'm not doing this and it's like going to like print this 485 00:36:24,823 --> 00:36:30,043 QR code go into the post office and stuff like fuck I don't have time but it's just crazy like 486 00:36:30,043 --> 00:36:34,623 it's just like every little area they just try slip it in either for your convenience it's not 487 00:36:34,623 --> 00:36:40,063 mandatory no it's not mandatory but like you make my life freaking difficult and now I don't have a 488 00:36:40,063 --> 00:36:46,202 fucking P.O. box anymore because I wanted to renew it. Like, screw you guys. And I think that's going 489 00:36:46,202 --> 00:36:50,143 to get worse and worse and worse. But it is what it is. And we've got Bitcoin and self-custody, 490 00:36:50,343 --> 00:36:55,023 a plan B passport is definitely a good thing. Just quick plug, shout out to the Bitcoin way, 491 00:36:55,102 --> 00:37:00,102 they can help with all of it. But on a more personal note, you mentioned, Walker, that you 492 00:37:00,102 --> 00:37:06,582 have a son, a young little man now in your life. Congratulations. I think that must have happened 493 00:37:06,582 --> 00:37:14,523 after we spoke last. Wow, it has been a while. Dang. Yeah, I think so. You're saying now that 494 00:37:14,523 --> 00:37:18,922 you've got a son in your life, like it's really even changed your time horizon even more. You're 495 00:37:18,922 --> 00:37:26,543 thinking about 10 years, 15, 20 years and stuff. I believe that if you're in a good place emotionally 496 00:37:26,543 --> 00:37:31,802 and you can support a child, the more children in the world, the better. And I think the more 497 00:37:31,802 --> 00:37:36,383 Bitcoiners that have more children, like even greater. What's that experience been like in 498 00:37:36,383 --> 00:37:43,023 your life and how has that shaped you as a person? And I guess like how's the, your child, your son 499 00:37:43,023 --> 00:37:47,823 shaped you as a person and as a Bitcoiner and how's a Bitcoiner shaped you as a father? 500 00:37:48,482 --> 00:37:54,582 It's a, it's a great question. I, I feel very blessed every day for one. I already did because 501 00:37:54,582 --> 00:38:01,762 I have an amazing wife, but the two of us feel even more blessed now. I think I knew I was going 502 00:38:01,762 --> 00:38:06,942 to love being a dad. And I wrote something about this on Nostra the other day, just kind of a stream 503 00:38:06,942 --> 00:38:10,523 of consciousness over the weekend after maybe I had a couple of beers too, you know, so it was 504 00:38:10,523 --> 00:38:15,023 flowing out of me real well, but everybody tells you when your wife gets pregnant, everybody tells 505 00:38:15,023 --> 00:38:20,102 you that you're going to love it. And they tell you all these in the best, most nice meaning ways, 506 00:38:20,143 --> 00:38:24,523 right? They tell over and over again, they tell you all the cliches, everything about, you know, 507 00:38:24,582 --> 00:38:28,962 fatherhood, right? All these things. And one of the big things is they say, well, you won't really 508 00:38:28,962 --> 00:38:32,922 understand it until you know you hold that baby in your arms for the first time and you're like 509 00:38:32,922 --> 00:38:37,262 the first couple times you hear it but you hear it like a hundred times you're like okay I like I 510 00:38:37,262 --> 00:38:43,043 get it guys yeah I get it already but you don't I didn't get I thought I got it I didn't get it at 511 00:38:43,043 --> 00:38:47,762 all and then I'm holding my son there for the first time and it's like this singular moment 512 00:38:47,762 --> 00:38:53,282 where you realize your entire life just changed and it will never be the same and I mean that in 513 00:38:53,282 --> 00:38:58,462 the best possible way you flip on a light switch and then you rip the light socket out of the wall 514 00:38:58,462 --> 00:39:00,323 and you can never turn that switch off, 515 00:39:00,403 --> 00:39:01,663 but you don't want to turn it off. 516 00:39:01,702 --> 00:39:03,202 You couldn't even dream of turning it off. 517 00:39:03,643 --> 00:39:06,462 You have no idea how it changes you until that moment. 518 00:39:06,543 --> 00:39:07,502 Like, no, you can't. 519 00:39:07,843 --> 00:39:09,702 You can't be a father until you're a father. 520 00:39:09,823 --> 00:39:10,962 There's no way to simulate it. 521 00:39:11,002 --> 00:39:12,323 There's no way to imagine it. 522 00:39:12,343 --> 00:39:14,202 You can think about the logistical ways like, 523 00:39:14,563 --> 00:39:16,563 oh, well, we're gonna have to handle diapers now. 524 00:39:16,643 --> 00:39:17,623 We probably won't have as much time 525 00:39:17,623 --> 00:39:18,482 to do so with the friends. 526 00:39:18,863 --> 00:39:20,403 But even there, you're kind of like, 527 00:39:20,403 --> 00:39:21,883 you don't fully understand what's gonna involve. 528 00:39:21,883 --> 00:39:24,722 But what I realized is that all the cliches were true. 529 00:39:25,242 --> 00:39:26,242 Everyone who told me, 530 00:39:26,242 --> 00:39:28,903 You won't really understand until you're there in that moment. 531 00:39:28,982 --> 00:39:29,962 They were absolutely right. 532 00:39:30,063 --> 00:39:33,063 I'm sorry to them for not realizing how right you were 533 00:39:33,063 --> 00:39:35,383 because you were more right than I could have possibly imagined. 534 00:39:36,183 --> 00:39:38,383 And it's like you, how do I say this? 535 00:39:38,903 --> 00:39:42,442 Becoming a father made me want to become a better man. 536 00:39:42,982 --> 00:39:45,502 Marrying my wife also did that and pursuing my wife. 537 00:39:45,563 --> 00:39:46,962 That made me want to be a better man as well. 538 00:39:47,623 --> 00:39:49,543 This took that to then another level 539 00:39:49,543 --> 00:39:51,563 where it really just made me want to become, 540 00:39:51,683 --> 00:39:53,502 I think, the best man that I can be, 541 00:39:53,543 --> 00:39:55,982 the man I know that I need to be now for my family, 542 00:39:55,982 --> 00:40:00,343 my growing family, the man that I'm perhaps was always meant to be, but didn't know that. 543 00:40:00,782 --> 00:40:05,942 And that I don't have another option. Like it is my duty. It is my responsibility to do so. 544 00:40:06,602 --> 00:40:11,563 And it also made me want to be a better husband because I realized like, what do I want my son 545 00:40:11,563 --> 00:40:17,643 to see? What do I want him to see in me as his role model for how a husband should act, 546 00:40:17,683 --> 00:40:23,462 how a good husband should act, how a man should treat his wife. Like you need to be that man. 547 00:40:23,462 --> 00:40:25,063 So you want to be a better husband and a better father. 548 00:40:25,563 --> 00:40:28,502 And then I'm like to bring it to the Bitcoin side of things. 549 00:40:28,502 --> 00:40:31,242 I had a bit of a, say a revelation on this too, 550 00:40:31,302 --> 00:40:33,602 which was just that I didn't realize, 551 00:40:33,823 --> 00:40:35,863 I thought that I understood time preference. 552 00:40:35,863 --> 00:40:38,202 When I read Saifedean's book, when I read the Bitcoin standard, 553 00:40:38,843 --> 00:40:40,942 the whole idea of time preference, I think for a lot of people, 554 00:40:41,063 --> 00:40:43,262 for me definitely was like kind of mind blowing. 555 00:40:43,403 --> 00:40:44,883 I'd never thought about it that way. 556 00:40:44,903 --> 00:40:47,422 I'd never thought about high time preference versus low time preference. 557 00:40:47,502 --> 00:40:49,523 I never heard those terms used in that way. 558 00:40:50,082 --> 00:40:52,202 And I thought I had a low time preference. 559 00:40:52,202 --> 00:40:53,843 I thought I was thinking long-term. 560 00:40:54,102 --> 00:40:57,962 I thought that I really was an enlightened guy. 561 00:40:58,063 --> 00:41:00,722 And I had this idea of what it meant to think in generations. 562 00:41:01,262 --> 00:41:07,823 But until the next generation of my bloodline was sitting there in my arms, I realized I 563 00:41:07,823 --> 00:41:08,962 didn't understand it at all. 564 00:41:09,143 --> 00:41:14,102 I thought I did, but I understood it in this perhaps academic way or this philosophical 565 00:41:14,102 --> 00:41:14,663 way. 566 00:41:14,903 --> 00:41:16,343 And that's fine too, right? 567 00:41:16,702 --> 00:41:19,302 Everyone's going to understand things differently at different points in their life. 568 00:41:19,302 --> 00:41:23,762 but I realized that, oh, wow, I wasn't actually thinking in generations before. 569 00:41:24,403 --> 00:41:29,502 It also made me just really come to terms with my own mortality, even more so realizing 570 00:41:29,502 --> 00:41:33,002 you will die, you know, memento mori, remember that you will die. 571 00:41:33,942 --> 00:41:39,502 But now it wasn't just, yeah, you're going to die. Okay. But what are you leaving? What are you 572 00:41:39,502 --> 00:41:42,982 going to do? How are you going to make sure that you have taken care of the people that 573 00:41:42,982 --> 00:41:47,643 it is your duty to protect and provide for? How are you going to make sure that you take care of 574 00:41:47,643 --> 00:41:51,922 them after you're gone? How are you going to set them up to make sure that whenever, you know, 575 00:41:51,962 --> 00:41:56,903 whenever that clock strikes midnight for me and it strikes, you know, times, times funny, it's the 576 00:41:56,903 --> 00:42:01,523 scarcest resource we have, but none of us knows just how scarce it is for each one of us. And 577 00:42:01,523 --> 00:42:05,462 that's hard. So what am I going to leave for them? How am I going to make sure that I can still 578 00:42:05,462 --> 00:42:09,102 provide for them after I'm gone? What legacy am I going to leave for my children? How are they 579 00:42:09,102 --> 00:42:14,702 going to remember me? What will they inherit? Did I leave the world a little bit of a better place 580 00:42:14,702 --> 00:42:16,683 than it was left to me. 581 00:42:17,403 --> 00:42:19,262 And that's been also one of the biggest things. 582 00:42:19,323 --> 00:42:21,863 It's made me realize even more 583 00:42:21,863 --> 00:42:24,702 how important what we're doing in Bitcoin is. 584 00:42:25,442 --> 00:42:27,823 Because I think it is fundamentally our duty 585 00:42:27,823 --> 00:42:30,462 to leave the world a better place than we found it. 586 00:42:30,502 --> 00:42:32,323 I think that's what each generation should try to do. 587 00:42:32,942 --> 00:42:35,222 I think some generations abdicate that responsibility. 588 00:42:35,222 --> 00:42:36,982 They say, that's not my problem, right? 589 00:42:37,023 --> 00:42:38,242 And each one of us can do that. 590 00:42:38,262 --> 00:42:39,343 And it's very easy to do that. 591 00:42:39,402 --> 00:42:40,703 Say somebody else will figure it out. 592 00:42:41,523 --> 00:42:42,823 But if they would have figured it out, 593 00:42:42,843 --> 00:42:44,323 if they could have figured it out, they would have. 594 00:42:44,703 --> 00:42:45,843 And we wouldn't be in this mess. 595 00:42:46,402 --> 00:42:47,922 Bitcoin wouldn't have needed to be created. 596 00:42:48,482 --> 00:42:52,782 But our world has been run by some very, as we've all seen, especially recently come to 597 00:42:52,782 --> 00:42:55,922 light, all the conspiracy theories being, oh, look, there weren't conspiracy theories. 598 00:42:56,063 --> 00:43:00,262 We really are governed and pay taxes to a cult of satanic pedophiles. 599 00:43:00,262 --> 00:43:00,982 Who knew? 600 00:43:01,462 --> 00:43:02,843 Are we going to let that continue? 601 00:43:03,383 --> 00:43:06,383 Is that the world we're going to leave to our kids and their kids? 602 00:43:06,502 --> 00:43:09,183 Is that what our story is going to be? 603 00:43:09,543 --> 00:43:10,703 That we let that slide? 604 00:43:11,183 --> 00:43:12,063 I hope not. 605 00:43:12,523 --> 00:43:14,023 And so I'm ranting again. 606 00:43:14,703 --> 00:43:18,082 But if I could sum it up, I would say, I know that having kids isn't for everyone. 607 00:43:18,282 --> 00:43:19,722 It's not for everyone at this moment. 608 00:43:20,002 --> 00:43:21,023 Maybe it is later. 609 00:43:21,742 --> 00:43:22,343 Maybe it's not. 610 00:43:22,462 --> 00:43:24,623 Some people can't have kids for various reasons. 611 00:43:25,082 --> 00:43:26,942 I respect, again, everyone's decision. 612 00:43:27,023 --> 00:43:28,222 Like you should do what you want with your money. 613 00:43:28,282 --> 00:43:29,422 You should do what you want with your life. 614 00:43:29,823 --> 00:43:30,722 I fully respect that. 615 00:43:30,762 --> 00:43:34,782 I do not judge that one bit because I think everybody's circumstances are different. 616 00:43:35,343 --> 00:43:38,002 Being a father, being a parent isn't for everyone. 617 00:43:38,282 --> 00:43:41,703 But I realized, damn, it sure as hell is for me. 618 00:43:41,703 --> 00:43:47,422 and I feel very blessed and very grateful every day to be able to live this life and I just hope 619 00:43:47,422 --> 00:43:53,023 that I can do things in this world that make my son proud yeah I'm sure you make him proud every 620 00:43:53,023 --> 00:43:58,863 single day walk you're an incredible man forever I'm walkers gone like the bitcoin podcast or the 621 00:43:58,863 --> 00:44:04,942 the tick coin podcast aka I'm gonna put all uh walkers links below definitely give him a follow 622 00:44:04,942 --> 00:44:11,643 over on x noster and um over on the podcast but anywhere else we should send send people 623 00:44:11,643 --> 00:44:17,063 you know if you want to i narrated another audiobook recently this one is a fiction one 624 00:44:17,063 --> 00:44:23,323 so i'll give a shout out to michael sullivan you wrote blood of the bourgeoisie oh dude awesome i 625 00:44:23,323 --> 00:44:29,082 haven't read it yet i will listen to it it's good let me know what you think michael did an awesome 626 00:44:29,082 --> 00:44:34,302 job with it and i think i love seeing bitcoin fiction fiction around bitcoin that's not strictly 627 00:44:34,302 --> 00:44:39,123 about bitcoin but it's there i think it's a really interesting way to potentially orange 628 00:44:39,123 --> 00:44:44,543 pill a heck of a lot more people. So blood of the bourgeoisie. I can't spell bourgeoisie. I swear, 629 00:44:44,683 --> 00:44:49,962 I misspell it every time I try. Just, yeah, you'll find it if you search for it. Michael Sullivan is 630 00:44:49,962 --> 00:44:54,183 the author. So I'd say, yeah, check that out. You can go to bitcoinpodcast.net for everything 631 00:44:54,183 --> 00:44:59,302 related to the podcast. That's awesome. I can't wait to be able to listen to it. It's been on my 632 00:44:59,302 --> 00:45:03,883 reading list for a little while, but just got so many books stacked up that I have to get through 633 00:45:03,883 --> 00:45:07,782 at the moment, but a nice audio book will be good in the car. 634 00:45:08,402 --> 00:45:11,262 Ladies and gentlemen, Walker, it's been an absolute pleasure. 635 00:45:11,462 --> 00:45:14,262 Please go out there and do something nice for yourself today. 636 00:45:14,482 --> 00:45:16,343 Then for somebody else out there, be blessed. 637 00:45:16,683 --> 00:45:16,802 Peace.