BTC Sessions - WHY ARE WE BULLISH? Bitcoin Buying Tsunami Swells in All Waters ep147

Episode Date: February 16, 2021

In a week of Tesla parking billions in Bitcoin on its balance sheet, governments admitting that Bitcoin makes their financial systems obsolete, long-time FUD-flinger Mastercard greasing its payment processing rails for Bitcoin — and more — today’s panel guests riff on what has them feeling bullish 🐂. 👉 Mark Moss: Sound money advocate, YouTube creator, and host of the Market Disruptors Podcast. https://twitter.com/1MarkMoss 👉 Colin Aulds: Founder of  Billfodl Wallet, host of The Unhashed Podcast, and Bitcoin Accelerationist. https://twitter.com/Colin_Aulds 👉 The Littlest Hodler: Runner of nodes and drinker of good beer who’s also proudly blocked by Frances Coppola. https://twitter.com/littlesthodler 👉 awayslice (AKA the ₿eefsteak guy): Learner, Bitcoiner, and organizer of bitcoinbeefsteak.com and btccitadel.org. 💪 SUPPORT THE SHOW: LEDN Bitcoin backed loans –  get $25 free https://bit.ly/397rlLN Get Wasabi wallet for Bitcoin privacy https://wasabiwallet.io/ Cobo Vault: secure your Bitcoin! https://bit.ly/2GgMFlH BillFodl: get your wallet backups in solid steel. https://privacypros.io/btcsessions Bitrefill: use Bitcoin to purchase gift cards https://www.bitrefill.com/buy/?code=O04UMic9 LIGHTNING tips: https://tippin.me/@BTCsessions Audio-only version of the show: https://anchor.fm/btcsessions Telegram channel: https://t.me/btc_sessions

Wasabi wallet and fairly private. What is going on, everyone. Welcome to the show. I hope everybody's having a fantastic Friday. It's been a hell of a week. It feels like the amount of news that happened this week should have been like a month, but it was indeed a week. It was just Monday where Tesla bought 1.5 bill.

It feels like ages ago already because so much has happened since then. This is another episode of why are we bullish? fucking stoked to be here. Good day. I've got a killer panel, too. Very excited about this. I see you guys already piling it. We've already got like 70 people watching live. So smash that like button.

Give this a share. Let's get a ton of people in here and celebrate our Fridays together. Of course, as always, this is live. So a quick message from my good friend here. We'll do it live. Okay. We'll do it live. Do it live.

it live. I'll write it and we'll do it live. The thing sucks. Anything can happen during a live show. So forgive us any technical difficulties we run into. As always, I am Ben with the BTC sessions. And this is your daily session. All right, let's dive into where we are at in the market before we start bringing in our guests here. So I'll just pull it up for you here.

I am here on the Bitbo.io dashboard. If you're not using this, you got to check it out because it's just got everything you need. We're sitting around 47,000 almost 900 bucks per Bitcoin. One US dollar will grab you, 288 sats. That's going down. When sub 2K sats per dollar, I'm thinking soon. Currently, 88.7% of all Bitcoin that will ever be mined have been mined. And in terms of fees, if you're looking to get into the next block, around 165 sats per buy,

will do you. So a little expensive. But if you're willing to wait an hour, you could probably get by with around 51 sats per byte. So not bad. Maybe use lightning if you're doing a lot of transactions. Anyways, before we dive in, of course, shout out to sponsors of the show, leaden. com, where you can use your Bitcoin for a bunch of different shit.

They've saved my ass on a couple occasions where I wanted to get my hands on dollars, but I didn't want to sell my Bitcoin. So I was able to use one of their loan products, get dollars into my bank account. And when I paid that back, I got back the same amount of Bitcoin, which was nice. So you can check them out. They've, of course, got their Bitcoin in USDC savings accounts

and their B2X offering if you're feeling mega bullish. Either way, check them out. Links down below, if you click that link and opt to get one of their services, namely one of their loan products. They'll give you $25 for free into your savings account. Up next, Cobal Vault, one of my favorite hardware wallets, I use this and I use the cold card quite a bit, especially for like multi-sig stuff. I like it because it's air-gapped and it's really easy to do.

It's all via QR code. So that keeps the keys to your money safe and offline. And yeah, it works with all my favorites. I use it with Blue Wallet, with Wasabi Wallet. And I'm using the pro, which has the fingerprint scanner and the rechargeable battery. So check them out. Links below. Of course, I live on Bitcoin all the time.

I'm as all in as you can be, guys. You've got to live the dream. you got to live on Bitcoin. You would think that you get worried about spending Bitcoin, but realistically, you just end up saving more money. But I do need to live, so I can do that through Bit refill and grab pretty much gift cards for anything I need.

And I do earn Sats back while I'm shopping, and they accept Lightning Network. So there's a ton of great shit. Head over, check out Bit Refill. And we've got the man himself on here from Privacy Pros today. Very excited to have Colin join us. So Colin, Thank you for being here.

But he is a co-creator of Bill Fottle. And if you're backing up a wallet, you don't want to fuck that up. You don't want to bug it up. So paper is worrisome because, well, if there's a fire, if there's a flood, that shit can get wrecked pretty quickly. And also, what if you accidentally throw it out? Because it is a piece of paper. You've got to be careful.

So if you want to step up your game, you might consider putting it in solid steel on something like the Bill Fottle over on Privacypro's. dot io uh this is how i back up my wall is especially my hardware so be sure to check them out link is down below and uh yeah let's get into it let's start bringing our friends in here we have the littlest hodler we have always slice we have colin alds and if i can scroll and get them in here we have mark moss guys welcome how you doing how's it going awesome awesome man good to be Wonderful. Thanks for having. Awesome. Yeah, thanks for being here, guys. This is my favorite part of the week. It's just the best having people on here. I'll go down the line really quick and you guys can just kind of, again, reiterate who you are and any other special fun tidbits about yourself if you want to drop them. So let's just start Littlest Hodler. Let people know who you are, what you're here for.

You got it. So everybody, thanks for having me here tonight. So as far as who I am, it's, I don't have the, the pedigree of some of the other guests here tonight. I'm really just a regular average guy in my mid to late 30s was your classic, you know, grew up no financial education, nothing like that, made a lot of dumb mistakes along the way. And a couple years ago, I decided to take control, right? I decided I didn't want to live paycheck to paycheck anymore, I didn't want to kind of have that worrisome over my head and my family's head. So got myself sorted. And a big part of that was after I kind of got stabilized and got ahead of the game,

was starting to get ahead further. And that led me to a little bit of libertarianism and then Bitcoin and jumped on Twitter with the rest of the plebs and just really passionate learning every day and helping to spread the word as best I can. So yeah, I'm really happy to be here. Awesome. Well, glad to have you. Let's jump down the line. Always slice, expert, and everything meat.

Welcome, man. Let everybody know who you are, what you do. Hey, I have even less pedigree than the little toddler. The only reason anybody cares about me is because I'm just a decent dude. That's the best reason. Yeah, that's right. That's right. I mean, that's how you get ahead in life, right?

Don't be a dick. But the only thing I would chill is the Bitcoin, steak. If you ever figure out that we're doing B-stakes in your town, you should swing by and hang out with some Bitcoiners and have some beer and stake. I need to get to one of those. I missed it at Bitcoin 2019. Is there going to be one at

Bitcoin 2021? I was hoping to premiere some merch today, but it didn't show up. But yeah, that's what we're shooting for. That's what we're shooting for. Okay, well, I'm hopeful. Okay, well, let's pass it down the line. Mr. Mark Moss, let everybody know who you are, what you do. Yeah, I'm a, I'm a content creator. I'm on YouTube. I'm on Twitter. I just got off of a clubhouse room. And I'm a freedom maximalist, a sound money advocate, a student of history, a financial analyst. And I love to talk about Bitcoin as much as I possibly can. I think I like to really approach things from really from a why standpoint. I love what you're doing because you're so technical and I've been referring people over to you because that's a gap that I don't fill. So I don't get into like what it is.

is or how it works, but I just talk about why. Why do we even need it? Um, and focus on a lot of of the problems that we have in the world, uh, not because I love doom and gloom, but because it points people back to why we may need to do something like Bitcoin. And, um, yeah, I love to talk about as much as I can. Awesome. I'm stoked to have you, man. And, uh, let's jump one last time down the line. Mr. Colin Alds. How you doing, man? Let people know. I guess I spoiled it, but maybe you can reiterate what I said. Yeah, my name's Colin Alds. Uh, man, I, I do so many different things. I feel like I don't have time for it all. But yeah, I founder and partner over at privacypros.

io where our first big project was the Bill Fottle. It's a hardware wallet backup for stainless steel, 24 word seeds, that kind of thing. We also sell Faraday bags and all sorts of other stuff. Hardware wallets over there. And then I'm also the lead editor at Buy Bitcoin Worldwide, which is an educational resource for people to learn more about Bitcoin. co-host of the Unhash podcast as well. And that's if you want to get really,

really technical about Bitcoin, that's a great place to go. We have Mario Gibney over there. He's from Blockstream. And we have Ruben Somsen, who's the lead maintainer of the Bitcoin mailing list, as well as my brother, who also co-founder of privacy pros.

But ultimately, I'm just, I'm a Bitcoin Pleb, like the rest of them. Deep down, that's what I am at my heart. So, yeah, I think we all have that in here.

That's great. I love it. guys there's like 100 people watching right now smash that like button gives us to share we're going to start diving in to our reasons for being bullish i just got to i just got to switch up the i got to switch up the banner down below breaking entire panel bullish as fuck uh excited for my reason i'm going to bring up my reason first and we can rip on this i lost it today when i saw this website I've got to bring it up. It's so great.

This website is called Bitcoin or shit.com. It was so funny. And it literally just tells you if you bought Bitcoin instead of fucking stupid shit, you'd have X number of dollars. So I'm just going to, just as are, to kick things off,

I'm going to click this a few times. And I'd like us to raise our hands if we bought that stupid thing. Okay, so it says, click here. This can't be that bad. If you bought Bitcoin instead of a fucking jewel starter kit, you'd have $8,900 or $0.19 Bitcoin.

Who has a jewel starter kit? Nobody, nobody's smoking drool pods. I didn't get the jewel starter kit. I had something similar for sure, so it's probably about the same. Rough, rough. Original price, $45.00, release date was in May of 2015. Okay.

If you bought Bitcoin instead of a fucking Beat Solo HD, you'd have $190 million. They're almost 4,000 Bitcoin. Original price was $200 and they were released in December of 2010. Wow. This is fine. I'm fine. Who bought the original beats? Anybody here?

That is crazy. No. Nobody would admit it if you did. I don't claim you. Okay, let's do two more. If you bought Bitcoin instead of fucking Google Glass, you'd have 160 grand or a 3.36 Bitcoin. Original price, $1,500, really.

Release date May of 2014. Did anybody have Google Glass? No. Did anybody have Google Glass? Did anybody really? do you really ever have Google a glass? No. Okay, one more. If you bought Bitcoin instead of a

fucking Xbox one, you'd have almost 32 grand or 0.67 Bitcoin. Original price, 500 bucks. Release date November of 2013. I am guilty of this. I do have an Xbox one. Yeah. Did you buy that Xbox one when you had to buy

the Connect or was this after you had to buy the Connect? No, I had to get the bundle. Oh, you have the Connect. It's not it's not plugged in anymore I mean it was rarely plugged that in Oh god this is such a great website It's so amazing and I screenshot it a bunch and and put it on Twitter and everybody was retweeting the hell out of it And then I said whoever did this has to come on the show I did get a reply so dudes coming on next Friday So I'm excited to have them on.

Now, Ben, Ben, may I shill another site to you right now? Yes, yes. Please do it. This is a site we created. We spent probably hundreds of thousands of dollars in R&D for this site. It's does Bitcoin fix this.com. Okay. I'm doing it.

All right. Does Bitcoin, Ash, does Bitcoin fix this.com? Okay. Enter a problem that flags the world. Oh my God. Okay. Can I just type anything here? Anything.

I mean, I told you, I spent hundreds of thousands of dollars research. You were. What? Okay. The wealth gap. Yes, Bitcoin fixes the wealth gap. I know.

I'm going to save you a bunch of money. I just put yes for whatever people type in the box. Okay. Let's do a couple more. Somebody showed up. What does Bitcoin fix? Somebody give me one. Income inequality.

Okay. Is that the same as the wealth cap? Yeah. Kind of. Yeah. I guess it does indeed. It does. The wealth cap is there because of incoming inequality.

How about homelessness? Yes. Okay. My erectile dysfunction. Yeah. Yeah. Look at that. It fixes it.

Everything. Incredible. It fixes everything. Great. I love it. So, okay, since we're on the topic of fun websites that are also informative,

this is my reason for being bullish just because I found it so funny. And I just needed to share it and everybody got a kick out of it. But it does make you realize how quickly things. are moving with Bitcoin. So maybe I'll pass it down the line and just, uh, you can either comment on the site in question or, or just any other fun sites that you've come across that have been like a nice, easy thing to pass on to people. That kind of gets to the point of Bitcoin. So I'll start with the littlest hodler. Feel free to either comment or or shill another website that you might like. I don't know if I really have a website to shill. Um, although those two examples are

fantastic. But the comment that I'll make is that it's fun that, you know, in the grand scheme of things, Bitcoin can be so serious, right? Because it does fix so many problems. It can help so many people, can help lift people out of poverty, can solve so many problems. But, you know, the craters and the people that are around it and are bullish on it, like us, we can still have some fun with it, right? So it's, you don't want to be all doom and gloom. You don't want to be, you know, peddled with the metal all the time. Sometimes you just want to relax. So I've taken those websites down and the next time I'm having a tough day, I'm going to go put something absurd into that website and see if Bitcoin fixes it, right? So I like that. It's fun. Yeah, I think that it

probably will. I think you're right there. Slice, what are you feeling about this? What do you like about the, you like the meme websites like this? Yeah, I like the, I like the mentality it puts people in because it's like, like Bitcoin turns people into savers, right? And then once you become a saver, you just start thinking about all the little extra things that you get in your life that you maybe don't need, you know, like, for instance, I met with my strength coach this week, and he was like, dude, you need a new pair of shoes. And I just been like, because I'm like, I don't need a new pair of shoes. Like, they're still fine.

And that's just like, it's like the bit coiner nature of saving. But then you look back and you're like, I got that Xbox. I was right there with you. I fucking, I had to move my, I saw my connect in the basement the other day. And it's like, oh. That's, it's funny. It makes me think of, it makes me think of Trace Mayer, RIP, when he, somebody was like, this is a true hodler.

And it was him with like at some conference. And they zoomed in on his like clearly like pay less shoes that were like, like whatever like Velcroed pay less something or other that he was wearing. And dude's been in Bitcoin since a quarter. And he still. But to that point, though, I think it's a great point to bring up because so many people think that because we don't have a Keynesian money system that's always inflated in a way, if we go to like a deflationary money like Bitcoin, that everyone's just going to hoard money, which obviously we're joking about it and we kind of are. But to your point, you need to choose. And like, you're still going to want food.

You're still going to want entertainment. You're still going to want to travel. You're still going to need things. It just changes you from buying what you need as opposed to just. just buying a bunch of crap. Yeah. Yeah. And we shouldn't enjoy our lives, right?

Like we should enjoy it. Exactly. Exactly. So it's it, you're still going to spend all the same stuff. I'm still going to take vacations. I'm still going to do things with my kids. Um,

but I'm not going to buy a bunch of extra crap. So that's, that's the shift. Yeah. I, Mark, I totally agree. Um, it,

it also makes me oddly enough. If it's something that I, I genuinely want and I'm going to drive value from it, I'm more likely to buy. the more expensive, better quality item that will last forever instead of the trinkety kind of bullshit, you know, fiat version of it that will not last. Like, perfect example is, you know, I moved recently and, you know, we were, we needed to kind of like furnish certain rooms and stuff. And we were looking online like kitchen tables and even like my backdrop here. And I'm looking

and going, well, I could order some crappy thing that I. I could put up from Amazon, but instead I literally, I was like, well, my friend is really good at building all this stuff. He does really good high quality thing. It's going to be more expensive, but it's going to last me a lifetime. So I got my friend to start building me all of this stuff. So I'm, you know, I've got somebody local that I actually give a shit about that's doing it for me.

That's, you know, I feel better funneling my money that way than buying trash. So, you know, while this website is hilarious, um, it, you know, some of the stuff that they bring up. Again, it's, it's a question of need, a question of like, was that really a necessary expenditure?

But I'll, let's, let's, uh, Mark, if you want to add anything further, you can or we can jump to Colin if you, if you,

yeah, we're talking about, we're talking about the meme sites. Um, my favorite one that I go to all the time and I reference all the time. And everybody should bookmark it and go there all the time as well is WTF happened, 1971. Yes.

So if you want to pull that up or whatever, but, um, everybody should bookmark that. one. I think it qualifies as a meme site. I mean, it's it's all charts and kind of, it basically says WTF happened in 1971 and that's the year. That's at the point. I mean, it started earlier, but that's like the deciding point that the entire world shifted. And if you just spend a little bit of time going through that website and looking at those charts,

it's going to blow your mind. I mean, the incarceration rate, the divorce rate, the sick rate. I mean, you name it. Everything started in 1971, which of course, if anybody's listening and they don't know what that year is, that's the year that President Richard Nixon took the United States dollar off of the gold standard. And so the entire world was using gold as money for 5,000 years. The dollar was pegged $32 equaled one ounce of gold. All the currencies pegged to the dollar. So everybody was on a gold standard. 71 is the year it ended. And if you go to that website, you'll see that's the year that it all came off the rails. I love that they don't draw conclusions on that website.

They literally just pose the question and show a bunch of metrics of what happened. And so anybody who tries to refute it and say, well, this is all bullshit. They're just speculating. Well, they haven't actually said anything. You are just being defensive about a particular year for some reason. Like, it's, it's, they don't draw any conclusions. They let people start to ask the question, which is the best. So let's jump over to Colin.

dude, obviously you've got your contribution to the meme sites of the world. What do you think about this kind of stuff? Obviously, you enjoy it. I live for the memes. I think that we memed Bitcoin to the moon. And we, I like to say, this is not my phrase, of course, but I like to say the Bitcoiners took control of the memes of production. And that is how we got here.

So I live for the memes. I think I wouldn't spend nearly as I wouldn't enjoy Bitcoin nearly as much if it weren't for the master level meming that is done in this space. And I think it's a huge reason for the success of the space generally. So I don't know what else there is to say. If you don't like the memes or you're not in on the memes, you're not really into Bitcoin. Yeah. It's it's amazing because it like it it permeates kind of the culture of Bitcoin.

And then you actually start to see it in like normally culture. culture. You know, you see like, Hoddle is everywhere, which is literally just a drunk idiot on Reddit forever ago, like literally a typo on Reddit. You know, you're, you're starting to see, I'm excited about the, the meming of stacking sats and that unit conversion, because that I think as it goes further, it's, we're going to get rid of that unit bias just from a meme. So, you know, hats off to Mr. Odell for coming up with that one. Money putter-Gober. I mean, that one made it mainstream already.

And then the Wall Street bets guys just took it one step further with that giant billboard time square of GME Gober. I mean, it's kind of like a weird usage of it, but it's like, that's the point of memes. You iterate. Yeah. It's awesome. I mean, the big, one of the big Bitcoin conferences each year is the Bitblock boom that they have in Texas.

And not this year, but last year, Bitstein gave. up and gave a presentation. And his title of the presentation was called meme warfare, I believe. And the whole purpose of it was talking about how memes are used as warfare. And that's how we're fighting this battle. And it got taken way out of context and people got pretty pissed about it. But it was great. But it just just it worked. Yeah, it worked, right? Just to the point that we're talking about. Yeah. Yeah, it's great. I love it. You know, the meme culture is winning. And, and you know I don't think central banks are

going to hold a candle to to the memes that we have. They don't even know what kind of battle they're fighting. Janet Yellen probably doesn't know how to send an email. I mean, she's like the most boomer, boomer I've ever seen in my life. Yeah.

100%. So we'll round this one out and we'll jump into our next reason for being bullish. Again, everybody in the chat keep keep the messages coming on bringing them up as I see I really liked the to Mark's point about what the fuck happened in in 1971 I like that youvis said what what the fuck happened in 2009 I think that's going to be the next meme website decades into the future why is everything so great oh that's why so yeah I think I think we will see that

soon. We're going to move on to the next topic, but again, everybody watching, there's over 100 people here, smash that like button, give it a share. We're going to jump to the littlest Hodler. Dude, what has you feeling bullish this week? I think overall, it's what has me feeling bullish overall, like in the grand scheme of things, is looking back on everything and how I use Bitcoin and how I hold it and everything. I love the consistency of it. So it doesn't matter if you're rich, poor, if you have control over your life, if you're spinning out of control, like the world is a very unpredictable place right now, right? Like there's so much crazy stuff going on that is 100% completely out of your hands. A lot of it goes back to 1971,

you know, as mentioned earlier by Mark, right? So, so it's when you really take a minute and think about it, like it can be a little bit overwhelming. And I love that, you know, I, the protocol doesn't change. Every eight minutes or so, we get a new block and that continues till, you know, the set end date. There's no one that can throw a wrench in it. You're not going to, oh, I'm going to put a whole bunch more Bitcoin or I'm going to take a whole bunch out of the system. You know, it's the consistency and the passion and the pride of all the people in this community. It brings us a certain level of familiarity and certainty in a very uncertain world. And as things just seem to continually get crazier, I just find that. I just find that, you know,

the blocks just stacking up, I just find it very comforting. And I love it. So that's not this week. That's my overall what has me bullish. So yeah. I like that. I like that take because I can't remember who originally tweeted it. But somebody said something along the lines of, you know, the US dollar isn't or the Bitcoin

isn't volatile. The US dollar is. And I think you can kind of apply that to to almost like from your sentiment kind of to the world. Like Bitcoin is like the pillar. It's it's the rock in the middle that is is certain. And it's the one certain thing that we have. And I think that's why a lot of Bitcoiners right now are actually doing well like as far like mentally right now. They're doing well because they have a rock. They have an anchor to hold on to while the rest of the world is just kind of it's this big cluster fuck and and people don't have that in their lives. Like not as much. Right. You've got you got your

family and friends and hopefully stuff like that, but at least there's something solid that we can grab onto. So I do really like that point. Let's jump to do that. You go ahead. To that point, you know, the thing is with uncertainty,

right? So the market's hate uncertainty. So you mentioned Janet Yellen. Like she's talking about regulating Bitcoin. And all she's always trying to do is bring certainty back to the market because it's that uncertainty. So like imagine if you're having to flee your country, you're not worried about saving for the future.

So the more certainty we have, the more we can save into the future. But also that consistency. So rules are supposed to be kind of absolute. They're set in advance. And then everybody, regardless of who they are, has to come through and play by those same rules. And so that's Bitcoin, right?

It's there. It was put in a decade ago. And we all have to participate by the same rules like a basketball game. It's all fair, right? The problem is the dollar system is arbitrary. And so everybody has their own set of rules. And so to your point, having that fixed set of rules that we can now start to plan our own lives off of.

How can you plan your life if the rules are constantly shifting and changing on you? Yeah, to play devil's advocate here a little bit, it's, I think it's kind of silly to say that Bitcoin's not volatile, the dollar is. I mean, it is. That's extreme.

Yeah, a gallon of milk is going to cost you the same next week as it does this week, pretty much, right? I mean, pretty much that's the case. And that's just not the case of Bitcoin. I get the sentiment,

but it's not really, It's not really what people mean when they say volatile. I mean, you want Bitcoin to be the volatile asset. That's how you get the number go up. And that's what we need right now to get the adoption. You need that enticing appeal. The protocol, like the underlying technology is the consistency that I like. Right.

And to Mark's point about the- Every 10 minutes. Every 10 minutes. That's right. And to Mark's point about fairness, like I have a son who is quickly approaching teenage years and things are getting dicey as they do. And, you know, I'm constantly saying to him, like, you know, I'm sorry, buddy, but, you know, life isn't fair. Like, things aren't always going to go your way.

But, you know, when it comes to Bitcoin, like, you know, I gave him some Bitcoin and I taught him about it. And now my wife has some. And it's, it adds this level of consistency. And as Mark Point said, fairness, right? Like everybody, you get in and then you just hold on, right? And it's, you don't have, yes, the price is volatile. You know, it's still will still very early. But, you know, that, like you said, that consistency block after block after block.

record of each transaction, no horse shit, nothing like that. Like that's, that is important in an unstable world. Yeah. I think, I think, yeah, that's, it gets to the root of, you know, purchasing power, obviously all over the place right now. And it's not, it's not stable in that sense, obviously, because the volatility experience now will eventually, assuming that everything works out and Bitcoin becomes the success that I believe, most of us believe it will achieve,

it later contributes to the certainty and the lack of volatility later, where you get kind of like a mildly deflationary, easy to calculate actual good measuring stick for economic value. We're not there yet, but yes, the volatility now contributes to an easier to calculate, world in the future. Yeah. And we say that the volatility is a feature, not a bug. So obviously volatility works both ways. You don't go from zero to 47, looking at my block clock.

You don't go from zero to 47, eight without volatility. So it goes up and down. But it has seemed to be a feature of Bitcoin in a sense where it kind of like brings in the hodlers, pushes out the weak hands, bring in the hodlers. And it's kind of this rinse and repeat. But perfectly to your point, you're right. I mean, it is volatile, but for sure. Yeah.

Yeah. Slice, you got anything here? Yeah, man, I just think that like, I don't know, I've been messing around on Clubhouse the last couple weeks. And I, you like, it's a stark reminder of how when you're trying to educate about Bitcoin, everyone wants like an elevator pitch or a metaphor. And then Bitcoin, all those metaphors, they hold up just like to a certain extent. And then they just fall apart.

You know, it's like, the wallet, you know, like the hardware wallet. Like people just think that their Bitcoin is in the wallet, but that's not really how it works. Like if you lose the wallet, your Bitcoin's not necessarily gone. You have to protect your seed craze or whatever. And there's all these nuances. And I just feel like there's like, as you learn about Bitcoin,

there's this like, what field you pass through where you start to think in terms of Bitcoin, right? And then at that stage, the volatility no longer matters to you. you. And then there's what Colin was saying, like there's this point where like, yes, a gallon of milk is always $4. But you start to realize that like the reason we perceive the dollar as being so stable is because it's so fucked with. Right. And then once you once you have that realization, it's like dollars become the volatility or dollars become the liability. And again, to Colin's point, like we need dollars to. to buy milk and pay rent and put gas in our cars and all that stuff. But there is, Bitcoin becomes a safe haven, both financially, but also, like, emotionally.

And it also gives us hope, right? Like, like, I don't, was it, you that was saying, it's like, if I didn't have Bitcoin and the shit that was going on in the world right now was going on, I would just be desperate. Or I would actually be more clear. I would be more desperate than I have that. You know, but Yeah, yeah, it's, it does.

Again, I think it's John Valis that that says regularly like he looks around at everybody's demeanor. And all the bit corners he knows are, I mean, even before we started to run above previous all time high, all the Bitcoiners were a lot more, had a positive outlook on the future, future, even like mid last year when, you know, we're still hadn't come that far. even like in shortly thereafter from March where everything dumped the bitcoins that have been in this for a long time and have been around the block were just yeah man we're we're we're we're feeling that was scary but they weren't nihilistic you know like many people that we knew so it does it it does kind of when you start to understand it and and kind of understand the implications then it does kind of change your demeanor. Maybe I'll stick with you, Slice,

if we want to dive into, maybe if you want to take your reason for being bullish, we can rip on that. All right, I'm going to try to, this is something that Clubhouse has had me thinking about recently. I'm going to try and keep it concise, but it's going to be a little bit,

it's going to have some hiccups because it's not completely ironed out, but I really like, part of the thing that really got me into Bitcoin or just the thing that made it click was, it was different. people from different walks of life coming to Bitcoin, where I had like a super smart math buddy,

like a chef buddy. And then like in my neighborhood, I live in a poorer neighborhood in Brooklyn, like just ATM, like Bitcoin ATM started popping up. And there would be like a line at the Bitcoin ATM. And that was when I was like, it's really starting to matter to a bunch of different people, right?

it's not just tech people, it's not just, it's not just smart people, you know, it's not just rich people. It could matter to a bunch of different people. And then the next thing is like you get on Clubhouse and it's, and I'm describing myself here, I'm super guilty of getting locked in like the Twitter bubble

of what Bitcoin is and isn't and all the conflicts between us and like Ethereum and whatever. And I don't care about any of that stuff. I'm just saying like when you get on clubhouse, you realize that there are a, there are just a ton of people who are really dialed in to what Bitcoin is and how it is important and could be important. And it's like mind blowing and it's super inspiring. And I just think like there's like this web of understanding that happens when you,

when you start to understand Bitcoin and like you take one thread to the middle and whatever that thread is if it's like the morality or the mass. or the economics or the libertarian side, you get to that center and then you see all these other threads that go out and you can walk out on another thread and every thread you walk out on just, it just makes your web stronger. And I just see a bunch of people going down those paths

and coming back on different ones. And it's super inspiring to me. And I just feel like it creates this, it's going to make Bitcoin unbreakable. Like it's such a unique thing in that way. it's it's perfect it's it totally ties in with kind of like the the memeification of everything and the the demeanor and people having that rock to hang on to and just i i didn't i haven't been on clubhouse as much as i'd like to because you know life but it's it's super interesting

to see you get to relive those moments of the the first bitcoiner moments that you ever had where you have those epiphanies and you go, oh, oh, wow. I, okay, I get some of the implications there. So I am excited to see some of that. And it's cool to hear that you're witnessing so many newcomers that are making those connections. And I, you know, I do want to be more of a part of that. So maybe I'll toss it over to Mark.

What has your experience been? I don't know if you've been on Clubhouse or even just in your everyday life about newcomers coming into Bitcoin and starting to make those connections. Yeah. So I just got out of a clubhouse room before I jumped in here. I'm new to it. I had to go get an iPhone just so I could be in there. But that was pretty fun.

But I've been, you know, I started making content for Bitcoin in 2015. And I was doing videos before and I started my new YouTube channel about two and a half years ago. The very, the first four videos I put on that channel was a four. part video series talking about how Wall Street was going to come in and try to take over Bitcoin, which today sounds not too far out, but two and a half years ago that was kind of far out in advance on that. So I've been talking about it and explaining to a lot of people for quite a while now. What I would say kind of to the point that you were making is that it really kind of goes back

down to like if anybody has ever done sales before. And so what happens is like in a game of sales is that I have my product or my company or whatever I have. And what most people do, they make a mistake in sales. And in sales training, you would call it like spilling your candy in the lobby. So they'd say, hey, Mr. Prospect, my product does this and it does this and it does this and it does this and I have this and I have this. But the customer doesn't care about that. The customer has one thing that they're concerned with.

And so really a good salesperson will find out what that one thing is they're concerned with and then match up the one benefit. And so Bitcoin is very similar, right? it's a lot of things. And you have to have, you know, eight or ten disciplines to really understand it. But really, everybody has their one thing. Somebody wants to make money. Somebody has a libertarian viewpoint.

Somebody's worried about storing their wealth. Somebody in Venezuela worried about the country seizing their money. And so everybody has like their own thing that they're interested in. And so really it's about trying to match up the one benefit of Bitcoin with that. And that's usually how people get that first hook. And then they start going down the rabbit hole to start finding out all those other things that it has. Totally. That's where a lot of people that truly understand Bitcoin fail. Like, their uncle asked them about Bitcoin and they give them like a super technical explanation.

And that's not what their 60-year-old old uncle needs. You know, like the other problem that we have, and I'm old enough where I was investing through the dot-com boom. And so I remember my roommate quit, I was an entrepreneur, but my roommate quit his job and we're at home day traders and we're trading these things called internet stocks. and everybody thought we were weird and oh, what about this internet stock? So very similar to what we've seen now. And well, you know, so I've been to these technology cycles. And what happens is when we have a new technology, we try to explain it. Oh, the internet.

Well, it's kind of like electronic email, right? Like I could send you a message. And so you paint it into that corner. And sure, the internet did that, but it was so much more. Now, back then in 1997, when email was podcast, popular, we didn't know that my car was going to be hooked to something called a cloud using something called social media to navigate me around traffic because none of that stuff was there. But it was the building block for that. And so today we say, well, Bitcoin's kind of like

money. It's kind of like a network. It's kind of like all these things. But really, it just makes it way too small. It's so much bigger than what we can even imagine today. Yeah. I agree with that. I think I like your point of zeroing in on on what people, what their individual use case is. I like to think of it, you know, a lot of Bitcoiners talk about having low time preference, but they,

they exude that in certain aspects of their life. But when they go to actually teach somebody about Bitcoin, they teach with the highest time preference I've ever seen. It's like, okay, instantly you got to, you got to jump in. You're going to get a cold card. You're going to learn UTXO management.

We've got to get you doing some coin joins. You got to get it through a decentralized exchange and like all of these things. And like that person that would have started going down the rabbit holes. Like, whoa, okay, that's too much for me. And then they go on like a shit coin casino and just like gamble with a bunch of trash. And so, yeah, like if Bitcoiners would approach education with low time preference in mind and actually take a moment to ask questions of the individual before diving into anything, then it might give you some more focus and a lot more success in getting those people where they need to be.

So, Ben, is that the move here? Like, I've always wondered, you're probably a really good person to ask this. So one asymmetry between Bitcoin and the shitcoins is that with Bitcoin, there actually is a lot to learn. With shit coins, it's just, it's just marketing. It's just, this is going to make you a lot of money. And that's, that's really their whole purpose. A lot of people think that they have all this new technology that solves all these problems, though. I think people will buy that.

Yeah, well, I mean, they're buying the marketing, but that tech doesn't exist. So you don't really need to teach them about it. In fact, you can't teach them about it because then of you do, they find out that the tech is bullshit and that blockchain is fucking stupid 99% of the time. Yeah. But with Bitcoin. you know, like there is this problem that we have where it's like, okay, well, I kind of do want to show you how to buy on something like BISC, because I don't want you to have to KYC yourself and you'll regret it later on when fucking Coinbase sells your, your coin purchases to the DEA and the IRS and the Secret Service. Or they get hacked. Or they get hacked or whatever. I mean, so there actually is this. deluge of knowledge that we need to responsibly give the noob, but giving them the knowledge that

they may need or will have wanted you to tell them in the future, we'll actually scare them off right now. And so there's kind of like two schools of thought now. It's just like, you know, just get them into Coinbase so they're buying Bitcoin. Don't overload them too much. And then the other school is like, no, no, no, you don't want a KYC yourself. Like, you want to get these coins as privately as possible. Here's how you can store them. Here's how you can send them. anonymously and it's like a huge educational hurdle. And so I guess the question for Bid is how do you

middle ground those two things and prevent people from making choices they're going to regret in the future without sending them off to the shit coiner's? Yeah. Well, I mean, for me, it's been, you know, like first of all, if somebody's buying their first Bitcoin, they're just straight up.

They're not going to jump on Bisk like I'd like them to end up there maybe eventually or it's really hard to use this yeah yeah it's not it's not easy like I did a video on it to break it down so at least people could learn but like it's not it's not super intuitive plus you have to have some bitcoin in the first place to hold as like a security deposit right so it's like you already have to have your foot in the door so for me it's like okay what what little wins can I get and get them curious and so for me the things I'm looking at at are, okay, first, get them to a place that isn't a shitcoin casino. So like, should I go to Coinbase? No. No. So where, what country are you in?

And then I look up where can I point them to like a Bitcoin only exchange. So and and potentially a Bitcoin only exchange that also is involved with people that are very good at explaining the the wise of why Bitcoin stands out. So like that's why I'm in Canada. So, you know, like I point people to like bull Bitcoin or you know the shake big eyes are pretty solid and like even like I've got friends local here Bitcoin well and you know while you might be exposed to some shit coins in in the midst of it the sentiment is like let's dump these and let's get them into Bitcoin like and there's some good education along the way so my first order of businesses get them to a place where they're going to probably just be grabbing Bitcoin and

and learning about that before making any other moves. Get them self-custodying. And that starts with just an easy wallet on your phone. That's the first step so that they have the experience of backing it up, you know, writing down a seed phrase and then taking steps from there. You know, secure that seed phrase properly. Learn about hardware. Dive down that.

And then there's always like the nudge of, you know, you could run a note and like people get there they get curious they are curious because if they take those baby steps once they've mastered a step they want to know what's next they want to know well what else can I do because it's too fucking cool you get here and you're like oh cool I've got Bitcoin like they're not just going to buy and then sit there and not ask another question so I just try to get those first couple like try not to shit coin and get some self-custody. going and we'll go from there. And I think in doing so, it starts them down that path, hopefully. And like, some people won't make it all the way, like, there is no ends to the path,

but some people won't make it super far down the path. But I believe if you go for smaller wins, they'll make it further than if you had showed them the entire fucking track. So, yeah. Yeah. Yeah, I think that's fair. It's good advice, I think.

What about little is Slodler? What are you thinking about? Like, newbies coming in, education, anything to add in there. Yeah, well, Mark brought up the sales world earlier. So I've been in sales since 2004. I worked for a huge multinational corporation for most of the time, spent some time with a small company.

Now I'm back with the big guys in account management. So I'm not doing as much face-to-face anymore, but in sales, we talk about 90% of sales is listening. So to Mark's point earlier, you know, you don't just say, you know, I've got this widget and it solves 86 problems. Nobody cares about that. They only care about the one, maybe two problems that it solves for them that's specific to their use case, right? So I have a personal rule with friends.

I'm from a very small town. I don't have a lot of friends that are into Bitcoin. I have had two people this week alone come to me. It usually starts on like Facebook Messenger or something and then we meet up for a beer and chat about it. But I never bring it up. I'm involved a little bit with the Bitcoin Runners Fitness Club over in Europe. So I have a couple T-shirts and stuff. so I wear them to the gym.

And so people know, but I never, you know, I never bring it up. I let people come to me and then they bring up, listen, I'm worried about how much my grocery bill is going to be next year. I'm worried about, you know, Bank of Canada borrowing all this money. I'm in Canada too. So it's like, you know, they say we're borrowing money from the Bank of Canada, but what they really mean is that we're just printing it and it's impoverishing all our children and grandchildren, right?

So I wait for those kind of conversations and then usually I'll, you know, sit down with them with a beer and say, what do you want to do? Do you want to get in? I don't want to chill anybody while I'm here, but I do tend to point people to shake pay. I find it's an incredibly simple user interface. If you can send an e-transfer, you can use shake pay. Shout out the bend, because you pointed me to Blue Wallet when I was kind of onboarding my wife a few months ago.

I've been doing the hardware thing for a little while and was kind of out of the loop as far as digital wallet goes outside of Lightning. So I ask for you for some recommendation. is great because, you know, it's got some very basic features. It's easy to learn. And then you can kind of scale up from there as you need. But I think, I mean, I haven't onboarded a lot of people. That's not my, that's not my goal here.

But that's my system for doing so when it arises, right? Is that I wait for people to come to me and I wait for their specific problem. And then I say, well, you know, I can help you out. And this is the underlying technology behind Bitcoin that may help alleviate your fears or put you on the right path to whatever decision is right for you. And sometimes that means they spend, you know, I had a buddy the other day that cashed in 50 bucks on his wealth simple account after doing some stock trading just to see what it was like. And, you know, maybe he comes back to me. Maybe that's as far as he goes, right?

But I've had other guys that I, you know, that I've helped out that I know are on a little bit deep for, you know, average regular middle class people. So that's my strategy for onboarding. It's not something I actively seek out, but I'm always happy to talk about it when it comes. that's awesome tons of nobs coming in these days and it's only just beginning i feel like all of us are probably starting to get those friends and family members and or even just random dms from people on on all kinds of different platforms so exciting to see but we've got our work cut out for us for that's for damn sure so um what i want to do obviously there's again there's a hundred and forty almost 140 people watching smash the like button give this a share

Let's get a few more people watching in here. We're going to jump to Mark. Mark, dude, let's do a refresh here. What has you feeling bullish this week? Yeah, I mean, there's so much to be bullish for it, right? But I guess today I was digging through some data looking at working on my next video. Some of the data I was looking at today specifically has me pretty bullish. And I think we're heading to maybe something big happening this year.

And so what I'm talking about is we have, you know, we're the United States, the U.S. dollar, the reserve currency of the world of the world is heading towards an event pretty rapidly, right? So right now we have about 100% deficits. We're spending twice as much money is coming in. The system will collapse without more debt creation. But at the same time, where do you get that debt from, right? So there's a bond market and people have to buy that debt. And obviously, if there was more buyers than there was debt, the yields would go down.

But that's not the case. Yields are going up. And as a matter of fact, they've doubled just since August. That's not good. If your house payment doubled or your car interest rate doubled in a year, or I'm sorry, in six months, that'd be really bad. And imagine doing that on $27 trillion of debt. And so, but what it really tells us is that nobody wants to buy that dollar. Nobody wants to buy that debt.

And that's bad. But at the same time, it was very interesting. at the same time that the yields are going up, bond yields are going up treasuries, we're seeing the dollar losing value against all other currencies, which means nobody wants to hold the currency either. So nobody wants to hold the currency, and nobody wants to buy the bonds. Well, that's not a good problem to have. And we're heading to this point that I think we might see play out this year,

where I believe the Federal Reserve is going to be forced to make a choice between one of two things. And they're going to have to either choose to one to save the dollar or two to save the bond market. And the reason why they're going to be faced with that choice is the dollar's crashing. So if they want to shore up the dollar, meaning keep it from free falling against all the other currencies, they got to stop printing all this money, which will then strengthen the dollar. But if they stop printing all the money, then who's going to buy the bonds?

So they're faced with a very, very tough decision at this point. And I believe that they're going to abandon the dollar and they have to save the bond market. They have to. If the dollar crashes, I mean, we're all paying a lot more for money and inflation goes sky high and it sucks. But if the bond market breaks, the entire global financial system crumbles. We have about somewhere between, they don't even know, somewhere between $500 trillion to a quadrillion dollars of derivatives on the dollar market. And that will implode. The whole system will implode.

And I believe they're going to choose to save the bond market. they're going to buy all the bonds that come up of it and screw the dollar and we'll see the dollar continue to crash. And so why does that make me bullish for Bitcoin? Well, of course, the more that they damage the dollar, it just makes Bitcoin look that much more attractive, right? They're doing the marketing for us. And so when the dollar looks good, when the dollar looks strong, I was looking at a tweet

earlier from Nassim Talib and he said that I'm getting rid of Bitcoin. Why would I hold something that's more volatile than what I'm getting out of the dollar? But when the dollar starts plummeting, everybody's going to be looking for alternatives. They'll be doing our marketing for us. They'll be pushing people into the dollar. So that's something that I was working on today, working on a video for that. And it makes me very bullish. I think we're already seeing that in the market.

Obviously, with the bond yields rising and the dollar falling, we're seeing it. But we're seeing in the Bitcoin market too, right? I mean, we're up at 479 as we speak. And so it's just going higher and higher. So the market is seeing the same thing. They're pricing it in and makes me extremely bullish. for this year. On Bitcoin.

Not bullish for the markets, but bullish for Bitcoin. Yeah. I'm with you on the saving the bond market versus saving the dollar. I think they'd rather just print, right? Like they're not going to let the bond market collapse. But it'll be interesting to see how that actually plays out.

And if people kind of understand, because this is the first time that I've actually seen some of my regular friends actually start to ask questions about well how are why are they printing so much money like does it mean anything anymore like is my dollar worth anything

if they can just print it then why do they need taxes like some of those questions actually come up nowadays and it's it's so interesting to see that things have gotten to such extremes that people are are questioning their money

people are not dumb yeah they've been This whole year they've been treating us like we're fucking idiots. And people are not dumb. Like they're starting to see what's going on. Well, Henry Ford has a quote that I use all the time 100 years ago. He said, if the people knew how the banking system worked, there'd be a revolution before the morning. So that was 100 years ago.

And of course, they've left that out of all education. They've purposely hid how that system works. But to your point, people aren't dumb. And now with the internet, right, everybody has that information today that they didn't used to have because they didn't give it to us in school. And now people see it. And just like Henry Ford said 100 years ago, there's going to be a revolution. People are seeing it.

But it's even bigger than just the average people that we know, the market, hundreds of millions of participants globally are pricing it in. Kind of like what we saw in the election where like the betting markets were more accurate than the polling, you know, the polls were. And so that's what the stock market is. It's a giant betting market. Everyone's betting that something's going to be more or less in the future. And so the world is pricing in the dollar.

The world's pricing it in. And we're watching it happen in real time. Yeah, it's amazing. Colin, do you want to jump in anything to say on that? Yeah, well, someone, I think, Winsome just chimed in at the bottom there and said that, you know, the central banks never counted on Bitcoin because they thought they would have all the escape hatches short up, but they didn't think about this. And it's so funny because my whole, oh, that was shit, my whole life, but my whole adult

life. He's very libertarian, very miscissian kind of idea about how economies work. And it's always against printing and always against bailouts and that kind of thing. And I would have been against the stimulus checks. And now it's like, no, no, keep it coming. Like I do it every month. Give everyone $5,000. Like, I want it. Just put it out of its misery. And I'm, I'm safe. I know I've got things taken care of. I'm trying to get as many people taken care of as I can. But, But, you know, if you don't get it, I can't explain it to you all the time. You know, I don't have time to explain to everyone. And I think there's plenty of warning signs here.

It can sound a little cold, I guess, but it's just like, look, the longer we, the longer it takes them to do this, the longer it's going to take to rip the Band-Aid off. So I think, you know, just I'm all in on the printer. Money printer go burr. Burr as hard as you can, overclock that money printer as far as I'm here. Rip rip off that fucking bandaid already. Let's just let's just go all. I mean, the sad part is,

is that, you know, it's not going to be good for most people. And that sucks. And I don't want that for anybody. I'm with you in the sense where it's like, let's get, it's inevitable.

It's inevitable and like, let's get the new system going. So, I mean, and I'm prepared. So like, I'm almost kind of like ready for it. Unfortunately,

it's a lot of pain on the back end of that. But yeah, The longer you wait, the worse it is. Yeah, you're right. Just get it over with. Let's get this down. One of the hardest things I find to explain is the whole, like, you don't have to buy a whole Bitcoin. So, like, I changed my Twitter hand up to the oldest holder a while ago because, you know, I am a regular middle class guy.

Like, I buy, you know, $10, $20 with a Bitcoin every other day. And that's how I've built my stack over the last couple years. It's not a lot, but to your point, it's better than not having any at all. and I'm in it for the long haul. So strong hands here, right? And it doesn't matter if you own a tenth of one coin or ten coins. Like everybody's going to start somewhere. And when you consider how bad the fall could be, like even a tiny, tiny bit is better

than nothing, right? Well, and the important thing is, is once you kind of carve out your own little land grab there, you know that your percentage of that economy remains static. you are not being debased. And that's the whole point. It's that you say, okay, well,

I, I'm going to carve out this, this piece of the Bitcoin network for myself. And nobody can arbitrarily make that a smaller piece of the pie. I have to be, I have to be incentivized to purchase a good or service that is so astounding that I want to spend my hard money on it. And so,

you know, like it, I think it drives a better economy. It drives better products and services and benefits all people in the end. And so, you know, as long as you have your own little piece and you try to spend less than you make and be responsible with your money, then yeah. Like that's more more power to everybody. I know, I know your camera cut slice, but if you want to chime in on any of this, feel free. Or is he gone?

I think he had to bounce. that's okay we'll we'll let him chime in afterwards um but let's let's jump to uh colin with uh your reason for being bullish this week but before we do i just want to say we've got uh close to 160 people watching live smash that like button give this a share um and thanks for joining us on on this fine friday i'm feeling pretty damn bullish so uh colin take it away what has you feeling bullish well i'll tell you what has me feeling bullish um it's not just the institutional excitement. It is the fact that we have all this institutional excitement,

and none of them seem to care about shit coins at all. Yeah. We are entering the fourth bull market of Bitcoin in its history. And finally, no one of substance gives a shit about chick coins. No one. I mean, you have mass mutual. And this is what's even better. It's a stodgy, old, boring life insurance company.

I used to work for a life insurance company. I used to work for New York Life Insurance, another mutual insurance company. These people are about as conservative as you could possibly be, and they are putting Bitcoin in their treasury. You have BNYMellion, 40 trillion in assets, interested in Bitcoin, doesn't care about shitcoins. Apple and BitPay, bringing Bitcoin to 380 million users. I wish it wasn't BitPay, but it's still Bitcoin.

Bullish. micro strategy, bullish. You have fiduciaries at Tesla. These people have a legal obligation to provide the most value they possibly can to their shareholders and they sat down on a table and they said, it's safer to hold $1.5 billion in Bitcoin than $1.5 billion in U.S. dollars. What does that tell you?

I have, you have Fortune 500 companies stumbling over them. themselves to basically become de facto Bitcoin ETFs because we can't have a Bitcoin ETF for some reason. And so they're stepping up saying, okay, we'll be it. Fine. Stumbling over each other to get Bitcoin. You know, and then I have friends. This is also encouraging. I have I have four or five friends that have reached out to me. And I'll tell you what's different about these reachouts than in previous bull runs. They're not saying, hey, Bitcoin's going crazy. I want to, can I, is it's too late? can I still make a ton of money? It's,

I'm this high time preference person. I've saved all this money and I'm scared shitless. It's going to be worthless. Which is to go back to Mark's point, to what we're talking about, these people are not dumb. People see what's going on here. And they're actually scared.

It's not just a get rich quick scheme anymore for the nobs to come in, and then they're going to panic sell. Now, all the institutional investment is a double-edged sword. And this is what concerns me. I am worried. that some of them may be their foemowing in and then when it drops, they get out and then they're never going to be able

to get into Bitcoin again because their shareholders are going to take a haircut and they're not going to be able to take it. But, you know, I do find it encouraging that they seem to understand and the reason they're getting in, they don't give a shit about the shit coins is it, it's not about making money.

It's about not losing money. And I think that's a really important shift that's unique about this bull run than any of the other bull runs I've seen. far. So that's why I'm bullish. Totally. The last thing you said especially, that's like the thing that people are like, it's it's becoming about not losing money. That's like the thing that's hitting people. Yeah, 100%. Like it's, it's, it's cool to see, you know, I mean,

sailors done a hell of a job on on communicating the store of value narrative. Because I mean, that's his use. Now, I don't agree with him on him saying, it's not going to be a currency. It's not going to be used for this and that because I think it's going to be all of those things. It just happens to be a store value first. But damn, when he gets on and he hits on that point of, you know, if I'm holding dollars, this is what's happening to my purchasing power. Assets are inflating at this rate.

I know I'm sitting on a melting ice cube. That narrative has just overtaken. And you see it across all the mainstream media, even if they're pushing back on it. It's out there. And there's a lot of people saying it's true. I need to put my capital in something other than dollars because I'm being eaten alive if I leave it there. And it's so awesome to see. I'll let maybe I'll let littlest hobbler take it a little bit here.

Have you noticed? I'm sure you have. Yeah, hey, before he jumps into that, sorry to cut you off. I got to get going. Yeah, all good. But I appreciate having me on. I love talking about Bitcoin every chance we get. So appreciate it and I'll look forward to coming back and do it another time.

Awesome. Everybody hit up Mark Moss. There'll be a link for him down below. Take care. Nice meeting you, Mark. Cheers. Cool. Hodler, take it away.

Yeah. I think your point is bang on, right? Like it's people are, people are bullish for their own reasons, but to slice this point about not losing money. And I've had comments in the past, you know, sitting around playing 45s,

having a beer and stuff like that. People saying, you know, after the price shot up to around 50K here in Canada, you know, I would have people comment like, oh, you must be pretty happy this week or something like that. And then, you know, time passes, time passes keeps going up. And the both people that contacted me this week about it was they were more, how can I get in, not can I get in and get out or can I get in and make a quick buck or I've got 200 bucks I want to blow on an investment, like how much do you think I can get back?

Like all those comments for me. And I mean, I don't get a lot of inquiries. Like I don't have, I haven't had that many people I've tried to Orange Bill yet or that have come to me about it. But it's, I don't have those comments anymore. And that's exactly the point that Colin was making, right? Like, it's about not losing money anymore. So, which is great for for someone who like me, who doesn't actively try to onboard people.

So I know that when people ask me the question or ask me about Bitcoin, they're coming from a more stable place, not that roll of the dice casino atmosphere, right? They want to know, like, to my point earlier, like, I'm really worried that my $200 a week grocery bill is going to be $250 next year and $300 the year after that. And I don't know how long I can hold on to that. So this not losing money, even if they're not saying I'm worried about losing money, if you really boil down to what a lot of people are talking about, that's what it is. It's just worried that, you know, I make $60,000 a year, $70,000 a year at my job.

I got a good job. I got a good life. But is that going to be enough two years down the road, five years down the road, 10 years down the road, right? Yeah. It's inherent in our system that you're always trying to keep up. And one of the craziest things that's happened over the past number of decades is that people haven't wanted to

give up things. They haven't wanted to step backwards in terms of quality of life. They've wanted always to keep moving forward. But instead of actually utilizing, you know, moving forward in life and saving, they've just utilized debt to achieve that. And so we've been thrust into this debt culture where it's like, oh yeah, I'm moving on up. I'm getting a bigger house. I got a nicer car. But you can't fucking afford it. It's not that you've

made those leaps and bounds in your income. Yeah, like on paper, you might see that you make more dollars per hour, so and so forth, but those dollars are still buying you less over time. And the jumps in pay have not made up for the lack of purchasing power with a dollar. And it's just people are having a hard time wrapping their heads around it,

but they feel it. And they know that they have to do something. in order to survive in the future. And they're just looking for weight. Like you see GameStop. You see all of these people just, okay, I got to do something. I got to where do I put my money? What can I do if I even have money to spend?

Where do I put it? And people are at a loss, but some people are hopefully starting to clue into the right idea here. Slice, if you want to die. Sorry, the nihilism of that whole episode was so depressing. I mean, it was all these people who were saying, fuck you. You're these people who have rigged this system in such a way that we cannot possibly win.

And you saw them realize it. I mean, it was an amazing idea that on paper should have worked. And then you saw that just the realization in that whole community's face that, oh, the house never loses. And. Totally. And I'm glad at least, you know, the Bitcoiners were there to be like, well, can you know, come to our side? You know, we have this escape hatch. You can like opt out of the system if you want. But, but, uh, I think everyone, I mean, it was still so demonstrative. I think almost anyone who watched that, even if they didn't understand what a short was or, or they don't understand how sophisticated financial instruments work at all. They still felt like on some weird intuitive level, like there's something very wrong here.

and these guys should have lost their shirts and they did but ultimately the the game stop guy still failed to achieve what they meant to and a lot of those guys lost their shirts to you everyone just lost a bunch of money but at the end of the day the wall street we're not going to lose bunch of money they're going to have they're going to get their bailouts and they're going to be okay and wall street bets is not going to get a bell out yeah and so hopefully we just got a whole new cohort of very smart, sophisticated Bitcoiners coming in with that fire in their belly and that that sort of that nihilistic sense of humor that I think all Bitcoiners kind of have just like,

fuck you. Like we're going to move on. That's what I'm very excited for. Slice, you could, I think it looked like you had something there. Yeah, I mean, back to what you were saying, Ben, about dead and taking on debt. I feel like a lot of people are always saying that like bankers and real estate people don't understand what's going on. And that is not what I believe. I know a lot of really smart real estate people and I know a lot of real estate, really, really smart people that are in banking.

And in real estate specifically, like, they know that dollars, like they understand debt and they know dollars. are like they understand inflation, right? They just have a different solution than we do. Like they, when they have dollars in their bank account, it makes them as nervous as it makes us. But their solution is to put a down payment on a new property to get a new mortgage to generate another revenue stream with the goal of putting another down payment down on another property.

And that's how people build these. real estate empires, but they end up being, you know, like houses of cards. And it's just this, it's a terrible cycle. It's a terrible cycle they got up in. And their, their, their assumption is that there's going to be more people doing more of that behind them. Totally. Totally.

And they're doing it themselves, right? And they understand that when they take a 30 year mortgage out, that by the time that mortgage is wrapping up, the dollars that they're paying that mortgage off. with way less than the one they originally borrowed. You know, like they understand that completely. I mean, those people went through the 2008 crisis.

They understand what can happen. So I. Yeah. And other crises. Yeah. Yeah. I had, so everyone in a while I'll do like a private session with somebody who's

trying to learn how to, how to get some Bitcoin or how to use a wallet or something. The lady I had this morning. showed out to her. I won't say her name, but she was 70. And she already had, like,

she had already been using Bitcoin a little bit and, and just wanted to ask some questions. She was about to dive into like some heavy shit coining. I was able to funnel her away from that. But it was interesting when I got chatting with her. She was like, so I was around. I was trading options on the,

the dot-com bubble. And so I was around. I was doing, I was trying to, and they wouldn't let me do puts. And they, like, at times I got,

um, I wasn't allowed to do certain trades that I wanted to do. So the same kind of shit was happening back then. But they're just, there was even less accessibility when, when trying to execute what you wanted to do with your own money. So she's still in this mindset of, of,

of fuck these guys. They get to set the rules of the game and change them whenever they want. And so she's seen, she saw with the GameStop thing too, she's like, it's more of the same. And then I got talking to her. I'm like, but Bitcoin gives us like, it's a different game. You get to step out of their game into your own. And she was like the smile on her face. She's like, that's what's so beautiful about it.

I love it. And she's 70. I feel like you should loop that back to the beginning because it's like that is that is like how you embrace Bitcoin, right? Like you cross through like you just, I keep saying it's a force field. You have to push through this mental barrier of like in terms of dollars Bitcoin is incredibly volatile, but just all the other volatility that we are not aware of in our lives hurt us, right? And they hurt other people. And Bitcoin is sort of a solution to that in a certain way. I don't know.

That sounds a little bit lofty for Mike. No, I like it. That's awesome. Yeah. I want to bring it back to what Colin said when he brought up the Wall Street's bet stuff. So when Robin Hood suspended trading on GameStop and other options, that blew my mind. Like I don't process that that didn't happen. I was actually out on, I was driving.

I have a small business and I was out making delivery on my lunch break. And then I got a notification on my phone or whatever that that, you know, the news, breaking news, Robin Hood suspends trading. And it was, I had to pull over. And I was like, this is it. this is when all the people that are caught up in this, you know, this is my chance to win. I'm going to, I'm going to get ahead. They put money in it. They put their savings in it.

And then this company, Robin Hood, like, it's in their name. It's supposed to be for the every man, right? Like, and they just, they just pulled the rug from under their feet for whatever reason. Of course, you know, the prevailing sentiment is that they got calls from the government or calls from above or calls from their major shareholders, whatever does matter. But that's the thing. These are everyday regular people that had real legitimate skin in the game for a change, like tens or hundreds of thousands of dollars,

type of money a lot of these people had never seen. And it was just. It's so much worse than just suspending trading, though. They weren't just saying that you couldn't buy. They were liquidating your long position for you. Yes, you're right. And I want to be fair to Robin Hood. I don't know we can pontificate about, you know,

if they were taking calls from their hedge fund buddies or the government. or whatever. It could be that they have these regs they have to comply with. I have no reason to believe they don't. And they had to do what they had to do to stay in business. But the system is still designed that way. Yes. Yeah. So it doesn't really, you know, it doesn't really matter if you're, you know, some Wall Street Betz-Tard on the Reddit thing, you know, some degenerate on there, as they call themselves, and you're trying to make a trade. Like, it doesn't matter. It doesn't matter why. The point is you, you couldn't do the strategy you were trying to do because you're a Pleb retail investor. Yeah. And man, it just, it, it, it, yeah, I think it was just like I said,

very intuitive on a lot of people's guts that there was something very wrong here. And then you had the CEO of Robin Hood had the gall to get on CNBC and say, well, we're not preventing. You're, you're still allowed to sell. That's like, dude, fuck off, man. That is totally the opposite of our, that's what they want us to do. That's what gets them out of their short position. Are you kidding me? Like, are you really that dense?

You're clearly a smart guy. You founded Robin Hood. You're not an idiot. That is not what we want to do here. And so, I don't know. I found a whole totally disingenuous, even if it's true, he had to, you know, do what he had to do. He's going to do what he has to do to keep. problem of life, right? That's fine. Okay. It's not up to you. You, you play by the rules that

you're given, but it's still just, you at least say, and look, the rules are unfair. Like, we found out today, I had to comply with these regs, and it's totally unfair to our users. And something is horribly wrong with the way that our financial system is structured, and I'm sorry. That's what you say. Yeah. You don't say, oh, you could still sell. fuck you yeah yeah yeah

it's it's but again it's it opened a lot of eyes to the need to opt out and I think

well it didn't capture all of them there's some and that's how Bitcoin works right it captures a few people that you know a ton of people

come in during bull markets for various reasons and then some of those stick around and then we go through another cycle and the people that maybe dropped off come back and say,

oh, oh, it's back. It's here again. And it just, it keeps, it's snowballing over time. And it's exciting to see. So I think what I'd like to do is just kind of go through with a quick final thoughts for everybody. And with your final thoughts, once again, let everybody know who you are, where they can find you. And obviously, gentlemen, thank you so much for being here. And hats off to Mark for joining us earlier.

But, yeah, let's go down the line. Any final thoughts? Anything you wanted to quickly say before we wrap up? I'll jump to Hodler first. Yeah, well, the only I want to say is thanks for the invite. This has been a blast. I've had a lot of fun. I am Littlest Hodler on Twitter.

I also run a small business that does accept Bitcoin. I'm pretty avid in the home brewing and craft beer community here out on the East Coast of Canada. So it's community brewshop.ca. You can kind of check it out there. But really, my final thoughts is that this show has made me even more bullish if that's possible, right? So as I mentioned off the top, I'm a regular middle class guy. I put in what I can put in. But at the end of the day, I know every dollar that gets put into Bitcoin and out of the terrible fiat system that we have in Canada here.

And it's corrupt and it's terrible. It's a mess. And every dollar I put in gets me closer to protecting my family. protecting my future. And I just, I couldn't be more happy to be here tonight. It was nice to meet everybody. And just thank you so much.

Yeah, no problem, man. Colin, take it away. Yeah, you can find me atprivsproes.io. I write a lot of articles there. I run the shop.

If you buy a bill faddle, it supports what my brother and I do there. Also, like I said, I write for buy Bitcoin worldwide, which is another great educational resource, especially for nobs, very noob friendly. And obviously, if you're a little more technical

and you want to really get into the weeds and nerd out on hash podcast is a great place for that, not very noob friendly there, but, you know, we have fun and it gets really raunchy and very like R rated R there. So if you enjoy that, then check us out on hashpot. podcast.com as well. I enjoy that. Slice. You go ahead.

I'm a way slice on Twitter and I would just say like bring it back to what I was saying earlier like I love Bitcoin but the thing that makes me the most bullish is the people. So it was awesome to like see you guys and chat with you today like it's inspiring and makes me even more bullish and I hope we get to like have a drink in person one day. Yes, 100%. I'm going to be doing my best to get down to, I got my tickets for Bitcoin 2021. So barring my country not letting me out, I shall be there.

We'll have a booth. So anyone watching, come say hello. You have a booth there? Yeah. All right. Nice. We'll do a live interview or something. We'll do something cool when I'm down there.

That'll be great. Yes. Awesome. Well, gentlemen, thank you so much. I'm going to drop your audio and video here, but if you stick around, I'll say a quick goodbye after we go offline here.

Everybody watching, thank you so much for joining me. Holy crap, that was a blast. Always makes my Friday having people here, especially guys like this that I can chill with.

I think I need to get some girls on the show. I think there's been like two ever. So let's, maybe I'll step that up next time around. Thank you again for watching. As always, please do hit

like, subscribe, and share all of those things really, really do help get this in front of more people's eyeballs. If you want to help over the show in another way, you can hit up the previously mentioned sponsors down below. That was Leden, that was Kobo, that was bit refill, and of course, privacy pros with Colin

here, check them out, grab a bill follow. You've got to get your shit on steel for sure. And if you really loved what you saw, you can drop me a Bitcoin Lightning Network tip at my tippin.m page, t-i-p-p-in.com. me slash at BTC sessions. With that, I'm out.

Have yourselves a wonderful day and a wonderful evening wherever you may be. See you guys next time for your daily session.