BTC Sessions - Is This Checkmate? Saylor’s Ultimate Bitcoin Plan! ep462

Starting point is 00:00:39 What is going on everybody? Welcome to this show. Another Thursday, another episode of Simply Sessions, and a very merry belated Christmas to you all. Hope you stacked a bunch of sats. And, well, probably you mostly spend sats on other people. But nonetheless, a very merry holiday to all of you. Hope you're having a good one.

Starting point is 00:01:01 A good boxing day. I did not set foot outside of the house today. So I'm trying to relax. But nonetheless, there is news afoot in the world of Bitcoin. And of course, we've got the best person on the internet to bring you Bitcoin news. The great Nico of Simply Bitcoin is in the house to let us know what's been going on. And of course, we're going to be hitting you with the tech updates and all of that in the latter half of the show. If you haven't already, actually, first I'll say, of course, this is last.

Starting point is 00:01:37 live. Just as the Christmas special was recently, make sure you check that out. It's on the channel, and it was a doozy. But this is live. Anything can happen. I defer to my friend Bill here. We'll do it live. Okay. We'll do it live. Do it live. I can, I'll write it and we'll do it live. If you haven't already, please do like, sub, share, all those things. They help a ton, getting this content in front of more eyes. I'm Ben with the BTC sessions. This is your daily session. and Simply session. Before we take a look and bring in, Nigo, let's take a look at

Starting point is 00:02:33 Timechain Calendar.com, see where we are in the market right now. We are currently sitting at $95,747. Although we did have a Christmas Day pump up in the 99K range the other day, perfect Bart up sideways and then straight back down the next day. So that was fun to watch. A single U.S. dollar

Starting point is 00:02:55 who grab you, 1044 sats. In terms of fees, it looks like six, six sats per V-byte, cross the board and next block. And then in terms of Bitcoin mine, 19.8 million,

Starting point is 00:03:08 that is 94.29% of the total supply. We'll give a quick shout to our sponsor. We'll be right back with Nico to give you the news. Bitcoin well is the best place to be buying and selling Bitcoin in Canada and the US. And now with Bitcoin, Bitcoin Well infinite, it's also the best place to be making large buys at their OTC desk of over $50,000. Their white glove service gives you fast transactions, no slippage, and the lowest fees. You can scan the QR code on the screen or simply head to Bitcoinwell.com slash BTC Sessions to sign up today.

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Starting point is 00:04:26 or simply scan the QR code on the screen to get started right away. We're back in and let's bring up my brother from another mother. Yo, buddy. Merry Christmas. Yo, Merry Christmas. And you're way too kind in the beginning. And that was very touching. I felt butterflies inside. I appreciate that.

Starting point is 00:04:51 We give you a butterfly sometimes. Yeah, man. It just, you know, sometimes just we just touch the tips. I don't know what happens. I don't know. It's inevitable. But how was your Christmas? It was good.

Starting point is 00:05:04 we had the whole pajama thing. Nice. So, you know, we had, it was, I, I, I, uh, I, uh, spent it with my in-laws. And they're awesome. And, uh, we had my cousin came over and, and their family came over. And, uh, it was Amma's first Christmas, my daughter. Um, and, uh, yeah, it was, it was, it was adorable. I, I, I, I dressed up in a Santa costume and, and how was your Christmas, bro?

Starting point is 00:05:30 I did the whole thing. I felt, I'm like, wow, I'm a parent. This is fun. Now, like, I, I understand. I understand this element of life. Yeah. Yeah. It's as you,

Starting point is 00:05:40 as your kids get older and start wanting things for Christmas and requesting things of Santa, it becomes, although like with parents, it doesn't matter the age of the kids, with grandparents. We basically, it's like a toy store, exploded in our living room right now.

Starting point is 00:05:57 It's kind of wild. I'm stepping on so many things. And the amount of like, recycling in boxes and crap out in my backyard is is pretty wild right now. So we'll see what happens. Dude, but oh man, it's, it's, it's, it's awesome though. It's, it's really awesome. And, and, you know, you've been experienced it for, for a while. This is, this is my first, this is like first year parent, dude. So, yeah, I'm, I think I've already called you at least one or twice at 2 a.m. like, Ben, what do I do? Well, you stay, you stayed here too. And, and, and, uh,

Starting point is 00:06:33 Luckily, my wife is a postpartum nurse. And so any inquiries, there is at least a hand in the house while you're out of the country. Your wife, like, literally, like, within, I couldn't, I couldn't get my baby to go to sleep. Your wife picks her up. And, like, within 20 seconds, she's sleeping like a baby. Literally. No pun intended. That's great.

Starting point is 00:06:56 I love it. Sweet. So what's been going on, man? Yeah. I mean, tons of news. I mean, it is Bitcoin. There's always news. I've said this for a very long time now.

Starting point is 00:07:05 You know, I've been doing this for like almost five years now. And I always get this feeling in the beginning of the week. I'm like, I'm going to have nothing to talk about. But that so far has not let me down. So tons of Bitcoin news. But I really do want to focus on this. And like the central thesis behind it is I think that we just got out of the, you know, and again, do you guys all know that I'd love talking about the sovereign individual?

Starting point is 00:07:32 we talk a lot, I talk a lot about it on Simply Sessions. And like, the world just overcame the separation of information and state. And you'll say, but Nika, what are you talking about? You know, the state doesn't have a propaganda arm, you know, like, you know, that's the New York Times. It's the Wall Street Journal, all these things. Like, what are you talking about? You're smoking crack. And they do, though. It's the legacy media. If you watch, if you get your news on X or Noster or YouTube, like you do your own research and you think critically, you live in a very different world compared to people that get their information off of the legacy media. And what I've come to realize, like over the last 10 years ago, 10 years or so, is I think

Starting point is 00:08:19 the legacy media has always been used as a source of population control, narrative control. And I think the internet disintermediated it by the rise of mass scale peer-to-peer communications. Like what me and Ben are doing right now is a great example of that. Ten years ago, that was like not possible, I don't think, especially to build enough of a platform and to get enough of a reach. So now it is, right? So now millions of voices around the world have the ability to communicate directly with each other. And, you know, you have the rise of Joe Rogan and all that stuff.

Starting point is 00:08:53 Okay. It's a huge, you know, context provider. Now I'm weaving it back in. the reason I'm bringing all this up is because we just left that face and we won but it was super bumpy bro think about all the platform censorship they they de-platformed a president bro like that's gnarled right um you know the censorship in canada like you pull up certain things instagram's like we can't show you this right um now we're entering into what I believe is the final boss, which is the separation of money and state. Now, the difference between the separation of information and state and money in state is that that is their source of power.

Starting point is 00:09:35 That is their source of funding. So look at how nasty that fight was with Twitter and all the censors. Like, it was really, really nasty. And it got dark at some points. Could you imagine the money one? The money one's going to get a little bit crazy. So I sustained. that's what's going to happen over the next five to ten years. That's the next battle to come. And we're starting to see the first innings of that. And a great example of that, of course, is, you know, the recent laws that are coming out of, recent laws that are coming out of the European Union. But before I get into that, this article came out literally Christmas Eve. Bank of Italy calls Bitcoin peer-to-peer crime as a service in latest report. It goes on to say a recent

Starting point is 00:10:26 Bank of Italy publication classifies Bitcoin peer-to-peer as crime as a service, criticizing its anonymous feature. Essentially, what they're trying to, where I think this is heading, is I think they just want to outlaw self-custody altogether. They realize they can't make Bitcoin go away. But just like the disintermediation of information in state, the disintermediation of money in state relies on the ability of the state to co-opt the gatekeepers. In the case of the information aspect, it was the legacy media, Wall Street Journal, New York Times, Fox News, CNBC. In the case of money, it's the banks. I love the phrase that a bank account is essentially a two of three multi-sig where the same. state has a key, the bank has a key, and you have one key. And if you're a Bitcoin, you understand

Starting point is 00:11:23 that that's not a good multi-sig setup for your wealth, right? So anyways, a lot of context provided because this is why you guys should care about this. Because if not, it's just really boring. But anyways, so the headline article for the audio listeners is impact of the EU and financial action task force regulatory frameworks on non-custodial crypto asset wallets. Now, it's a really long report, but I went through all of it so you guys won't have to. And essentially here are the key finding. So the report was essentially an, the report was essentially an overview and analysis of EU regulatory frameworks for non-custodial wallets and peer-to-peer cryptocurrency transactions based on the FATF. The FATF is an unelected regulatory box. And, you know, it's an unelected regulatory

Starting point is 00:12:17 whose full name is the Financial Action Task Force. It goes on to say the report focuses on implications for anti-money laundering and counter-terrorism finance compliance. Highlights potential conflicts between regulations and financial privacy rights. Now, what they don't want to tell you is that the vast majority of illicit finance is actually done within the traditional financial system. But, you know, the narrative and the way that they phrase it is incredibly important here because you would never, like, based on the language that they're using, you would never surmise that. You would say, no, that's impossible.

Starting point is 00:13:03 What are you talking about? You know, you're a crazy man. But if you look at the facts, if you look at the data, it's telling you a very, very different story. Like, it's basically saying that the vast majority of illicit finance is actually done through the traditional financial system. It's not done through Bitcoin and other cryptocurrencies. Now, here are some of the key findings from the report. Non-custodial wallets currently outside direct EU, AML, and CFTC regulations. It says, are currently outside direct EU and AML regulations.

Starting point is 00:13:40 It goes on to say, EBA guidelines emphasize LFTC regulations. risk associated with non-custodial wallets and recommend enhanced customer due diligence. Now, the reason I think is a little bit troubling is, like, okay, like, what do you expect? Like, someone is going to have an electron wallet or a sparrow wallet in Nigeria. Like, are you going to stop them from transaction? Like, this is where it's heading. Now, it goes on to say it's talking about the forthcoming regulations, including the Mika, which is something that Christine Lagarde actually dropped by name when she called Bitcoin an escape

Starting point is 00:14:18 valve to use her words, not mine. And essentially the MECA regulations excludes non-custodial wallets from direct scope. However, it does impact crypto asset service providers by encouraging stricter practices. Now it gets a little bit worse. Regulation EU 231113 mandates that crypto asset service providers collect data from transactions involving non-custodial wallets. What does that mean? How do they plan to do that? Right? So, like, essentially, every time you would draw money from the exchange, right, they want that

Starting point is 00:14:58 reported to the government. Now, here's a kicker. Prohibit anonymous transactions. How? If you take Bitcoin off of an exchange, right? I'm a content creator. sometimes I have to hire contractors overseas to do some of the editing work. Sometimes they live in a country where they don't have access to a bank account.

Starting point is 00:15:19 I could pay them in Bitcoin, right? Like, how are they going to know that that transaction happened? Like, are they supposed, this is the next step basically saying that every transaction has to be reported? It's pretty crazy. Now, it goes on to say, and like, and I'll read you too, Ben, like the recent ruling is coming out of the United States and it's, And it's pretty crazy, like the taxing, the tax requirement stuff. So it goes on to say in my summary, introduces stricter requirements for crypto asset service providers, including transaction monitoring and reporting, requires member states to establish

Starting point is 00:16:01 financial intelligence units. Open source technologies like Lightning Network will conflict with the regulatory environment, requirements. I mean, who saw that come in, right? Potential marginalization of EU-based crypto asset service providers and innovation due to restricted policies. No shit, Sherlock. Risk of users shifting to unregulated markets outside the EU. Extensive customer data collection requirements risk violating financial privacy rights. Lack of harmonized safeguards and reliance on member states may lead to misuse of data. No shit. Like, you know, it, Again, like, this, these regulations are such a cluster fuck.

Starting point is 00:16:45 And by the way, it's not an isolated incident. This is happening also in the United States. This is also coming in 2025. I believe, though, that this came actually from the Biden administration. There's a possibility that Trump will repeal this. So it goes on to say, this is an ex post from Andrew Gordon. It says crypto investors must comply with the IRS procedure 24 to 28 safe harbor by December 31, 2024, to avoid penalties and optimize your cost basis for digital assets. Let's break it down so you don't miss this critical deadline.

Starting point is 00:17:26 So it goes on to say, how to comply with the safe harbor by the end of the year. Understand the guidelines. The safe harbor lets you allocate unused cost basis to specific wallets. using prescribed methods like global allocation or specific unit allocation. Number two, this is the crazy part. List all wallets and accounts. List every wallet hosted slash unhosted, exchange and account holding your crypto. Keep this list for your safe harbor statement.

Starting point is 00:17:58 Check this out. Take screenshots of your balances. Capture screenshots of token balances for every wallet and exchange after completing all 2024 transactions, but before January 1st, 2025. Time stamp these transactions. Like, bro, that, like, it, mind you, this is coming from a government, and I actually tweeted this out, it was like yesterday or something, that has failed seven audits in a row, the Pentagon,

Starting point is 00:18:32 and they have 60% of their, like, $8 trillion budget unaccounted for. And that's not billion, that's a T. But then they expect you to check all the lists. And year after year, whether it's Canada, the United States, or countries in Europe, what happens is that governments continue to spend more money than they collect in tax revenue. And the reason that they're able to do that is because they're able to print the difference. So they expect their citizens to comply and be fiscally disciplined, but they themselves don't follow what they expect everyone else to follow. And if that is not the definition of tyranny,

Starting point is 00:19:17 I don't know what is. So I'm going to weave it back again once more with all the context and all this stuff. This is the first innings of the battle to come. And Bitcoiners are going to be right in the middle of this, which is going to be quite interesting. Anyways, that's my take. That's, oh, man.

Starting point is 00:19:36 Okay, can you scroll down? a little bit to the second point the the the identify all wallets and accounts so this is the thing where it's like we know like anybody who at all studied history uh and understands the significance in bitcoin in the when juxtapose against what happened historically to those uh using uh assets to escape inflation, this is just teeing you up for executive order 6102 for Bitcoin, right? Let us know about every sat you own anywhere. Can you imagine them saying this of anything else that you happen to own? Like if you own, you know, like just if you had to go through your home and catalog every piece of everything that you've,

Starting point is 00:20:38 owned and report it to the government, like no matter what it was, no matter how small, we need to know every single asset that you own anywhere on earth and so that we can later, you know, basically take it from you. We want it. Or we're going to want a piece, right? Like that's what they're teeing this up for. And you're right in that, obviously, this must be, it would have come out of the administration of the past four years.

Starting point is 00:21:08 I hope that the fact that in this past election we've seen that Bitcoiners actually have sway in politics, that this kind of crap gets repealed. And I hope with the Department of Government efficiency that this inefficient horseshit gets removed. But who knows? Again, like, I haven't seen this in. Canada as of yet, but like if it's if it's happening in the US, if it's happening in the EU, I can only imagine that, you know, are the governor of the great state of Canada is

Starting point is 00:21:50 really, really looking to take away everybody's assets here too. So I don't know what else to say there. For sure. I think I think you hit the nail on the head. And one thing that I'll say too is like, you know, this is this is the this is the sovereign individual thesis. playing out. Like, they're doing this not to collect taxes. They're not doing this for your safety or anti-money laundering. They're doing this for the same reason they censored speech on Twitter. They're doing this because they're losing their ability to, they're losing their control and their monopoly on money. And they're trying to hide behind, oh, this is for your safety. Oh, this is because you're going to pay taxes to justify.

Starting point is 00:22:36 absolutely tyrannical behavior. And one of the things I've always said is one of the things that I love about Bitcoin is that it exposes incentives. And eventually it's going to expose, like, it's not really about money laundering, bro. If it was about money laundering, you'd be focusing on the traditional financial system. When banks got caught money laundering, like for TD Bank for the Mexican drug cartel, they got a fine. when Arthur Hayes and CZ did basically the same thing,

Starting point is 00:23:08 they literally both went to prison. Right now, Roger Ver, and I know he's very unpopular in Bitcoin, not a big fan after the whole Bitcoin Cash thing and all that stuff, that guy right now is on trial, and if he loses that case, he's going to jail for the rest of his life. So, you know, like, it's a, this is the beginnings of what's to come. Now, I'm super happy that Trump won the election in the United States, and I think it's definitely going to help us, but make no mistake, they're not going to just go quietly into that good night

Starting point is 00:23:41 and say, all right, guys, here's the key, you're right, separate money from state and the central bank, you know, we lost, wrapped it up, call it quits. No, man, that system's going to fight for its life because it's true, man. Big government depends on the money printer. Without the money printer, big government can't sustain itself, which again is part of the theory and thesis in the book, The Sovereign Individual. Now, in the long term, that's going to force governments to change their relationship with their citizens from a more like extortion type of behavior to a more customer-esque, business-esque type of behavior. Or at least that's the theory. We'll see what

Starting point is 00:24:23 happens. In other news, a little bit of an update on the Rumble Sega, So we read you guys this when it happened about Rumble, basically allocating part of its treasury strategy to Bitcoin. But also, Rumble actually just got a massive influx, a massive investment from Tether. For people don't know, by the way, because I guess it's not very, like not very well known. Tether right now is one of the most popular, sorry,

Starting point is 00:24:58 one of the most profitable companies on the face of the planet. They basically make more money than Google, and they have 80 employees. They're sitting on so much cash that they put some of that cash into treasuries, and they earn interest. But it's such an enormous amount that the interest that they're generating is astronomical. And Paolo and the whole tether team, they're actually the hardcore bitcoins. And what they're using some of that money for is supporting freedom of speech, also Bitcoin companies investing in them, and just trying to accelerate the adoption of Bitcoin. So anyways, I had to give you guys context because a lot of people won't understand.

Starting point is 00:25:40 Where did they get the $775 million from? Anyways, context provided. So here's the headline. Rumble secures 775 million investment from Tether. Stock soars 75%. here is the CEO Chris Pavlovsky with Dave Portnoy talking about it. Let's check it out. Chris. Hey, how's it going? Can you hear me good?

Starting point is 00:26:05 I can hear you crystal clear. Congratulations. I'm talking a much richer man right now, I think. You talk? I guess so. 40% right now. So tell us about the deal. Tether. I did the research a little bit on it. crypto company right that that made their fortune with stable coin but wants to get into other areas but you know way more so give us give us the background everything that's going on here yeah so tether took a 700 they're they're making a 775 million dollar strategic investment into rumble uh for us this is uh this is incredible because uh we haven't had like a strategic strategic to strategic partner such as a company like tether

Starting point is 00:26:50 come into rumble so it really is exciting for us in many different ways uh they approached us uh about a month ago less than a month ago yeah it was uh it was pretty quick yeah no it was it was very fast and uh you know they expressed that they wanted to buy as much of rumble as they could uh so you know every insider was given the right to sell as much as they wanted and uh 70 million shares is the most I could find. So to put it simply, they're helping clean up the cap table in a major way. And then there's going to be a primary component of about $250 million that can help us spur further growth, build the cloud, further, bring in more content creators to the platform,

Starting point is 00:27:39 things of that nature. So, yeah, it's been, it's a phenomenal, phenomenal opportunity that we had here, something that I think has been, It's really, you know, if you don't know who Tether is and what they do, it's something that really, really matches the ethos of Rumble in a major, major way. All right. So, you know, a question is, you know, like, what's the mission? Here's follow the CEO.

Starting point is 00:28:06 It says, Tether is actively working with its partners, I lost, yeah, partners to build the widest real world use cases for BTC and USDT and other. core freedom tech peer-to-peer private AI. Our dedication goes to the hundreds of millions, likely billions already, of people in our network of reach. Unstopable, unstoppable to gather. I guess it's like a play on words. We'll be a great 2025. Now, another piece of context that I'll add to this is the fact that I lost my train of thought, but I'll move on to the next thing. which I think applies to, oh, it was such a good thought too, which I think applies to Ben and I,

Starting point is 00:28:57 which is imagine you can easily tip your favorite creators with BTC or USDT directly on Rumble. Oh, now I remember. Okay, so I know we'll get a little bit of hate in the chat regarding, you know, because of course, Ben and I are Bitcoin Maxis. And I think Bitcoiners all had this thesis that in the developing countries, you would see massive adoption of Bitcoin.

Starting point is 00:29:23 But what you're seeing actually is mass adoption of stable coins. That's what the market is doing. I have a theory that that is the stepping stone to Bitcoin adoption. I think it's positive because it gives them an option to a non-sovereign alternative that's run by a company rather than run by a government. And also, like, if you're in Zimbabwe and you're dealing with double-digit inflation, and it doesn't allow you to live, right? You can just download a wallet,

Starting point is 00:29:52 and like the Aqua Wallet that was designed by Samson Mao has actually the ability to, I think, switch from Bitcoin to Tether. Use Tether as like your quote-unquote stable coin, and then you can use Bitcoin as your saving. So just wanted to provide a little bit of context. I think Bitcoiners wanted something different, but, hey, I'm a free market maxi, and the market has said something, you know, quite different.

Starting point is 00:30:16 But I think over time, tether adoption is going to lead to Bitcoin adoption. That's my two stats on the matter. Yeah. I mean, right now there's, you know, in doing work with the Human Rights Foundation, there's a lot of people that they do initially gravitate towards like just a stable coin option. Realistically, it's that their home currencies are such trash that they want to use something that, you know, It's not stable value. And us as Bitcoiners, we all know that it's not stable value.

Starting point is 00:30:51 It's just it's going down forever, but at a steady pace for the most part. And so they can they can basically accept a payment and then know that in the next day or two or whatever. Like they're used, they're living hand to mouth, right? Like there are a lot of people in these regions are they want the payment so that they can go out and they can buy the thing in the next, you know, day, week, month, whatever it is. but it's not typically long-term savings for the most part and a lot of people don't get that out of their currencies it's like well next month or whatever i don't know how much i'm going to be able to buy with the same amount of money um so that's part of it the other part is censorship resistant transactions and so for the time being you are getting that with stable coins

Starting point is 00:31:42 but it's there is layers of counterparty risk there right Because you've got the token itself sitting typically being used on which blockchain, like which crypto is it on. And so like that in and of itself, there's some counterparty risk there. Like what is the underlying that's actually transacting it? You can do it on lightning now, which is great. You can do it on liquid, which is great. But then there's the counterparty risk of the stable coin itself is representative of treasuries or assets held by a company.

Starting point is 00:32:16 that are in the traditional financial system. And that's probably the biggest counterparty risk, because if shit hits the fan there, then the whole thing can blow up. And so, transactionally, I think it's useful. But I am seeing in practice it also leading to people recognizing that Bitcoin is kind of the way to go. And I've started to come across people when they have the option of using lightning-related stuff and using it in like a, oh, a stable value type thing over the line. Lightning Network or using it just the denomination as SATs.

Starting point is 00:32:50 They're like, no, we'll just use Bitcoin. I think that's the better option, which is cool to see from human rights activists and people in different countries that don't have dollar exposure. There's now starting to, I'm starting to see this inclination to move towards Bitcoin, which we all experience over time, you know, everybody gets their little shitcoin phase and they end up going the right direction. But in regards to Rumble, I mean, for you and me, I think this is incredibly interesting because having not only a platform that is going, has always kind of gone the direction of where X is right now, where it's like, okay, we're not going to actively like be low-key, like censoring people and everything like that. It's obviously not the same as Noster because that I think is just like freedom.

Starting point is 00:33:42 incarnate, which is great. But at least it's a quasi-legacy platform that's going the right direction in, hey, look, we can add peer-to-peer value. We can start to integrate these freedom tools. I don't think that they'll quite integrate everything to the point of not having control. But I think this is going to be a very much a gateway drug into more decentralized and censorship-resistant tools in existing platforms, and then eventually to things that are built with nostrils,

Starting point is 00:34:20 like a backbone. So I'm excited. Yeah, I'm super excited. And just to reemphasize what you were saying earlier, and perhaps I didn't communicate properly, you know, Tether is not a replacement for Bitcoin. It's inherently centralized. They can, and they have frozen accounts.

Starting point is 00:34:40 Of course, they don't do this out of, They do this because a government requests it. They have no choice but to comply because, again, it's a centralized entity. So it is not a replacement for Bitcoin whatsoever. And perhaps I think communicate that effectively. But you are seeing it being adopted worldwide. And it has been extremely helpful for people that are living in countries of double-digit inflation. And these are types of people that, like,

Starting point is 00:35:12 you know, they're just trying to get by, right? And if you pitch the dollar to someone in South America, like it is like the end-all be-all. It's a little bit different, like Ben and I, you know, to use Glockstein's term, right, we have a little bit of financial privilege because we're from, you know, Western developed countries where the inflation rate is stable enough or you don't realize it's stealing from you. So, you know, but at the same time, you have a little bit of disposable income. You look at Bitcoin, you're like, okay, Bitcoin's better money. But if you're dealing with 100% inflation, like the dollar is your Bitcoin, essentially. But again, once they download that wallet and they get used to that system,

Starting point is 00:35:54 dude, this is crazy. I would say that a lot of people in developing countries, I think they're going to skip the whole bank account altogether. They're just going to download a wallet, right? So anyways, very exciting news, but I do want to get to the headline of today's video, which is, because I know we're about. four or five minutes left, but I'm going to rush through this, Ben. So micro strategy, MSTR wants to issue 10 billion more shares at current prices.

Starting point is 00:36:20 That would be 3.3 trillion or 36 million Bitcoins. You heard that right. What comes next will be unprecedented. Something will have to give. And I'm guessing the price of Bitcoin will go much higher. Obviously, this would not happen tomorrow, but just like their $42 billion plan from October, this would authorize them to issue 10 billion additional shares, which would currently be worth 3 trillion. Of course, Sailor would only do this over time if accredited to shareholders.

Starting point is 00:36:50 This could also include potential future stock splits. Now, what's really interesting about this is the number, right? So obviously they can't buy 36 million Bitcoins. So what's going to happen? They're just going to put the price of Bitcoin. It's the same thing with how many millionaires there are around the world. There's only, there's 60 millionaires, but there's 21 million Bitcoin, minus four, because that's what's estimated to be lost. 60 divided you do the math like there's not enough bitcoin to go around even if every millionaire millionaire wanted to buy just one so very similar um and of course uh chad sailor continues their strategy of buying more bitcoin in fact check out these numbers on november 11th he bought 27000

Starting point is 00:37:32 bitcoin on november 18th 51 000 bitcoin on november 25th uh the week of november 25000 bitcoin December 2nd, he bought 15,000 Bitcoin, December 9, 21,000 Bitcoin. December 16th, 15,000 Bitcoin. I think he owns, I think, 2% of the supply at this point. So it is pretty effing, crazy. Is this the ultimate checkmate? Is this Sailor's ultimate Bitcoin move? I mean, dude, like, and then what happens if his stock just keeps going?

Starting point is 00:38:09 I mean, eventually, I think the bull market, the bear is going to hit 2026. We're going to go through a bear. We're going to go through a bear. But, you know, we're going to have a bull again. And that company's just going to recover and it's going to reach new heights. Like, and it's just a matter of time before other companies figure out that this is the move. I'll tell you what, like with my own, with my own personal business. And Ben, I'm very confident to see it with you.

Starting point is 00:38:29 Like, having Bitcoin on your company's treasury is a freaking cheat code. I cannot. Your runway gets longer. You're like, oh, man, how am I going to. to make payroll. Bitcoin goes up 20%. You're like, all right, can make payroll. And my treasury, my dollar treasury amount stays exactly the same. Right. So, you know, it is a cheat code for any business. If you're an entrepreneur, you have a business, you know, put 20%, I'm not going to give financial advice. Putting a percentage of your, of your treasury in Bitcoin is

Starting point is 00:39:03 tremendously helpful if you run a business. Yeah. Yeah. Again, I, I, I mean, these numbers alone with what he's been able to do and how much he's been able to stack this way. There's people that are catching on to this. Other companies are going, oh, my God, like, why aren't we doing this? And they're starting to. And so he's just, he's just been so early to the party and benefited from his timing. Well, not even his timing because, like, yeah, he started accumulating in the 2021 bull market. But he had to pay his tuition just like anybody else and ride out the bear market.

Starting point is 00:39:44 And the bear market sucked ass. And not just for us, but for everybody and Michael Saylor combined. But he kept his head down. He kept on stacking and has become a prime example of, hey, look, this guy knew something that you didn't and continue to buy through the entire bear market. And out of it, the narrative has begun to shift. and people have begun to recognize that strategy. Like, hey, when something is infinite and you can get it on the cheap and you can use that thing to buy something that is incredibly scarce

Starting point is 00:40:19 and only increasing in value over longer periods of time, you do that. And people are going to continue to do it. There's a lot of naysayers right now, or there will be coming when we hit another bear market. But they're going to just be impossibly wrong yet again. and the big corners will continue to be incredibly right yet again time after time cycle after cycle and so i mean get ready to feel uh both incredibly depressed as people who are wrong tell you that you're wrong uh our markets and then incredibly euphoric uh when you're just so so right shortly after yeah dude it's uh the ultimate vindication of i told you so and uh it's awesome man it's

Starting point is 00:41:07 awesome. This is the future is bright. Like I said, to reference what we were talking about in the beginning of the show, I think there's going to be a little bit of a bumpy ride, but I think once we get over that, that last hill, man, I think that humanity is heading into an era of prosperity and freedom, the likes of which has never been seen before in human history. And I'm extremely excited that, you know, our kids, Ben, you know, my baby daughter is going to get to experience that world, but our generation is a generation that gets the brunt of the fight. And Ben, you've been involved a little bit, somewhat. I see you as a freedom fighter. I don't know if you guys know this, ladies and gentlemen, but I was honored. Ben asked me to be on the first show since,

Starting point is 00:41:53 you know, everything happened with the Canadian Truckers protest. And the look on this man's face, he just went to war him back. And boy, did we win that, dude? Did we win that? I may have been a little shell shocked on that episode, but I appreciate you joining me for it. And yeah, like in the years since, just kind of coming on the other side of that and seeing the shift in perception and the coverage of it after the fact and talking with, you know, thinking that, you know, I'm even though we kind of went through the ringer here in Canada, that, oh, that pales in comparison to obviously what other people have been through in other areas. But then also hearing people from actually, you brought up an article from the Open Dialogue Foundation talking to people from there.

Starting point is 00:42:49 And they're like, no, no, no, never diminish what happened there because those are the beginning steps. And those types of actions on behalf of a government, they snowball and they become the very shit we're fighting elsewhere. So absolutely, like, you know, that's a big deal. And so, yeah, I think things are moving in the right direction, but you're right. We've got a task and a half ahead of us for sure. Yes, we do. But I'm very confident we're going to win. And Ben, it's an honor to be in the trenches with you.

Starting point is 00:43:22 Guys, this was your Simple sessions. Ben, I will literally see you next week. Take care of all right. See you soon. All right. Everybody, of course, give a subscribe to Niko over at Simply Bitcoin. they bring you the news six days a week, and they've got tons of other awesome content as well.

Starting point is 00:43:39 But we are continuing on. We're gonna give away some sats in just a moment here. So get your lightning wallets ready. And we're also gonna update you on some of the coolest new tools and everything that have been either updated or coming out in the past week here. So stay tuned. We're gonna give a quick shout out

Starting point is 00:43:58 to our last couple sponsors of the show, and we will be right back to give you away some sats. So again, get those lightning roll. It's ready. You're back. Speed wallet is the easiest to set up and use Bitcoin wallet out there. When you sign up, you can, of course, buy Bitcoin within the app. You can send or receive Bitcoin transactions via the Lightning Network. And you can also send, receive, hold, and swap between stablecoins, aka EUSDT, via the Lightning Network. They baked in a ton of other great features as well, where you're able to earn Bitcoin.

Starting point is 00:44:34 This can include referring your friends, shopping your favorite gift cards, or playing fun games via the Speed Arcade. I encourage you to sign up today. There's a QR code on the screen to do so where you can hit the link in the show notes down below, and when you do, you will earn 5,000 sats as you create your first. DeBify is the best and easiest way to borrow against your Bitcoin

Starting point is 00:44:59 in a non-custodial way. Funds are held in a multi-sig escrow. where you hold a key, and the platform allows for excellent hardware like the cold card mark four and the queue. You have access to flexible conditions, the best rates, and institutional grade liquidity. If you're looking to make use of your capital, don't sell your Bitcoin, borrow against it. You can head over to debify.com to check them out or simply skin.

Starting point is 00:45:30 We're right back in and let's give away some stats right now. Get your lightning wallets ready. I am pulling up Bitcoinwell.com. By the way, I'll put a little QR code off to the side. If you do want to sign up for Bitcoin, well, if you don't already have an account, then you can use that QR code there to do so. And you'll, of course, be able to earn points

Starting point is 00:45:55 as you sign up by Bitcoin and refer friends. And every time you use 500 points, you get a chance to win a million sets. So I'm going to do just that right now. We're going to throw, we're going to use some of our points to throw a coin into the Bitcoin wishing well. And whoever scans at first is going to snag the sats anywhere between 500 and a million. All right. And there's 500 sats for whoever is going to scan it first.

Starting point is 00:46:20 Congrats to whoever gets it. Of course, let us know if you do in the chat, in the comments, wherever you're watching this. And again, congrats. And that's not the only way, of course, that you can be earning some sats over. this next bull run. My company, Bitcoin Mentor, we are gearing up for a new year full of newbies to Bitcoin, and I'm certain that you're going to have lots of friends and family asking you about how to best obtain and secure their Bitcoin. So you can point them over to BitcoinMetor.i.O. But more importantly, you can become an affiliate as an experience Bitcoin

Starting point is 00:46:59 yourself. Scan that QR code on the screen. Sign up. Get your own personalized link. Add it to your social media profiles, share it with family members or friends or whoever asks you about Bitcoin and refer them to us. And when they sign up through your link for a one-on-one session, you will earn $21 in Bitcoin. And that's not just for their first session. It's for every single session. They book in from then on. And again, so if they sign up for, say, 10 sessions, there's 210 bucks paid out to you in Bitcoin at the end of the month. So sign up. You can stack sats while new Bitcoiners stack skills. But with that, let's get into the tech updates. So really quick here, Raspi Blitz, version 1.11 or 11.4, AlbiHub integration. AlbiHub is so useful. I've got to say,

Starting point is 00:47:52 I love it. What it allows you to do is very simply on your own hardware, set up your lightning integration, your lightning node, lightning channels, all of that. And it has like a little wizard that walks you through and says, hey, maybe do this first and this second and this third. And it helps you basically do everything you need to do. It is so easy to manage. It's so much easier than stuff that I've done before. And then you can link mobile wallets like AlbiGo or Zeus or a number of others to your lightning node and use it on the fly. And it works. I've been using it consistently. And it's just it's an absolute dream come true. So this is now on Razpie Blitz. So if you're running Razby Blitz. They have Albi Hub integration, awesome app that you can add in. And again, it just

Starting point is 00:48:38 kind of helps automate. If you already have a lightning node running, no problem. Download it anyways. And you've got this nice interface where you can set up your own lightning address. You can link in other apps. You can link it to your browser up here. I have a little plug-in for Al-Bi right there and link it to all your Nostr stuff. It's amazing. So definitely, definitely check it out if you're on Razby Blitz. Or if you're on like me on a start. or if you're an umbral user, they have it there as well. So check them out. Fed of Mint version 0.5.0.

Starting point is 00:49:09 This adds Tor support stabilization of V2 Lightning module and more. So I've been playing around quite a bit with Feddy, the last little bit, setting up Mints, learning about lightning gateways, all these different things. The long and the short of it, if you're unfamiliar with Fedomint, basically what this is, you have a community multi-sig where Bitcoin is managed on chain, you can link to the Lightning Network with something called Lightning Gateways, which is another way for Lightning users to monetize their Lightning nodes

Starting point is 00:49:41 by offering Fedomens a service and linking them to the outside world. And so as a user, all you would need to do is there's a QR code or a code that you paste into the Feddy app, and then you become a user of whatever Mint you're a part of, and you can send money in and out using lightning transactions. And anytime you transact with somebody within the same mint, it's instant, it's free, and it's near perfectly private. When you're transacting via lightning, it's still,

Starting point is 00:50:12 there's a fair amount of privacy involved there in that you're kind of hiding in the crowd. There's no indication like, you know, how many people and who's doing the transaction from within the mint. So it's all around a better and more private experience, but there is the counterparty aspect of it, right? Like it's effectively a community bank. So you want to know in general who's managing the mint and that you can trust those people. And this is going to be, again, similar to other things that we've seen. There's a tradeoff.

Starting point is 00:50:48 And so if it's day-to-day transactions, very, very useful. Are you going to put your life savings in a mint? Probably not, at least not currently. But very, very promising and good to see these updates. So again, just what's new in this new version? Tor support for client federation connections, stabilization of V2 of the Lightning module, upgraded to Rust Bitcoin version 0.32, bug fixes and CI improvements.

Starting point is 00:51:19 Yeah, so also the other thing that popped out to me that I thought was great is bolt 12 invoice support is in preparation. So that's great. They do have a version 0.6.0 coming out in January. And this release was actually delayed. But the version 0.6.0 has been worked on in tandem with this. So it's still on schedule for January. So Fetamint leveling up, getting more and more reliable.

Starting point is 00:51:47 Still early days, but very, very promising. Moving on. Keycast, this is particularly interesting to me. I like this idea. Keycast, it's remote Noster signing platform for teams. So I now have a team of people around me that we work together, and there's going to be new content in the new year and everything. And I like casting to Noster via Zab.com.

Starting point is 00:52:15 And it would be nice if I could automate some posts and let people know. about streams or whatever is going on. That would be amazing. But if I want anybody to be able to post on my behalf right now, it's like, here is my secret key. Please don't abuse it. And that's an ideal situation. So keycast is a secure remote signing and permissions management tool for teams

Starting point is 00:52:43 using the NOSER protocol. So it's designed to simplify remote signing and secure key management for teams. previous solutions cater to individuals. This focus on team collaboration. So you can manage team of NOSER users. You can manage multiple keys that you want to give others access to. You can create authorizations for those keys that grant specific permissions that can be changed and revoked.

Starting point is 00:53:07 You can create your own custom permissions. And you can run the signing infrastructure without any extra work. You can, it's fully open source and you can host it on your own. Docker, StartOS, Umbro, they're going to have apps for both StartOS and Umbrole coming soon, but this is super awesome. And this actually ties into the next thing

Starting point is 00:53:32 that I'm also excited about in regards to Nostor. Aegis or Aegis, I'm not sure how to say it, but Premium Nostra Relay and Blossom Server. So it's a premium relay and Blossom server. It's one you can run to earn revenue for operating it by having significantly more Blossom servers available, we'll strengthen the network and ensure our file storage is more distributed. Subscription payments are powered by the BitVora Lightning API, no code, node management,

Starting point is 00:54:03 or KYC required, allowing it to be up and running in minutes, written in Go. It says you can run it on just one core and one gigabyte of RAM. The important thing here is that Blossom is basically working on trying to have censorship-resistant quasi-decentralized file storage without shitcoins involved, which is great. And so as a Noster user, you could host a Blossom server, which would then host data for other people, which people would then pay you for via Bitcoin over Noster. And this is something that I need. I need this because I don't trust.

Starting point is 00:54:44 I mean, we were talking about, we're talking about Rumble early in the show. we're talking about that and X versus things like YouTube. I'm on YouTube right now. That's obviously an important part of what I do because I need to catch new people as they come into the space. But I also don't trust that I won't be removed from this platform, right? I don't trust that I'm going to be able to have this channel forever. And that's a very real thing because multiple times I've seen problems arise.

Starting point is 00:55:14 Even just recently in the past couple of months, I saw a total shableness. where you couldn't even search me, which is wild. That is insane. Also, I just saw a huge zap come in. This, again, this is great. I just saw a zap for 7,77s come in here on my screen as I'm streaming from Noster as this streams over zap dot stream. So this is why this shit is so important is because the barrier of communication and the barrier of money are completely being dissolved by things like this. When you see Noster relays and Blossom servers and people being able to be rewarded for providing that service directly paid insats, which then gives way to content creators and people that just want free speech to be able to talk to audiences

Starting point is 00:56:05 and also be directly rewarded in a decentralized and censorship-resistant way for the content they're providing with nobody scraping away the money in between, with nobody saying, what did you say? I don't think so. We're going to make sure people can't find you. That is the value proposition here. That is awesome. And so Blossom servers, keycast, even what I was talking about earlier, how Albi Hub is now

Starting point is 00:56:34 integrated with Razby Blitz and all of this can be integrated to your own lightning node with Nostr and all of this. this is all so, so important. Now, does all of it work perfectly yet? Absolutely not. We're on the bleeding edge. So anybody that's trying this stuff right now, you're going to have frustrations.

Starting point is 00:56:51 You're going to have shit break. And you're going to have to sometimes fall back to your old stuff. But I encourage you to keep trying, keep playing, keep learning, because as this stuff gets more accessible, it's going to be incredibly important in our future. Last couple things here, BTC pay server version 2.0.5, they now have a seamless transition to version 2.0. So just minor improvement and bug fixes here for the most part. But most importantly, with the migration from 1.0 to 2.0 battle tested, all users upgrading will now seamlessly transition to version 2.0. So I made a tutorial recently on BTC pay server using Luna node for hosting, and the upgrade process to 2.0 was a little bit tricky. That is gone now. And luckily I said in the video, hey, this part may not be useful eventually. Well, it's already obsolete. So, you know, I'm pretending not to be upset about that. But at least I did give guidance in the video that.

Starting point is 00:57:59 you can skip past this part when it's no longer necessary. So that's awesome. But yeah, BTC pay, killing it, as always working hard. A couple of things. I did release a tutorial on Speed Wallets merchant portal and their suite of merchant tools and their APIs for accepting Bitcoin payments as well. So if you're not self-hosting or doing any of that

Starting point is 00:58:26 and you just want to kind of be able to accept payments integrated into like your app or website or anything like that, you can also set automated thresholds, which withdraw to self-custody. So maybe that is in line with a solution for you if you don't want anything that's like, you know, like that you have to host yourself or whatever. This could be an option for you as well. But I would encourage you to set those thresholds. That's important, you know, saying like, okay, if I have more than a million SATs sitting here, it's going to go straight to my cold storage or to my self-custody or whatever it is but um still a nice little tool that they put together there also i'll say if you missed the show the other day i encourage you to check out

Starting point is 00:59:11 uh the christmas show it was an epic seven and a half hours we had so many awesome guests there Preston Pish, Larry Lepard, Parker Lewis, Peter St. Ange. There were so many awesome people there. It was an absolute blast. I really enjoyed it. And thank you all for tuning in. But if you didn't, go take it in chunks. There's 30-minute panels stacked one after the other with a variety of people from across the

Starting point is 00:59:41 space, and it was fantastic. So with that, we're going to round out here. Again, thank you guys so much for watching. Of course, please do like, subscribe, share all those things that help a ton. If you want to help the show in another way, hit up the previously mentioned sponsors all in the show notes down below. And if you want to earn some extra sats over the course of this next bull run, there is a QR code just over here that you can scan to become an official affiliate, a Bitcoin mentor, get your own personal link, post in your profiles, share it with friends, family, and acquaintances. that are asking about Bitcoin, and if they do book a session through us, that's $21 paid out to you in Bitcoin at the end of each month, and every single session, every single person books through

Starting point is 01:00:28 your link earns you money. You stack stats, well, no new Bitcoiners stack skills. With that, I am out. Have yourselves a wonderful day or evening, wherever you may be. We'll see you guys next time for your daily session.

BTC Sessions - Is This Checkmate? Saylor’s Ultimate Bitcoin Plan! ep462

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