BTC Sessions - WHY ARE WE BULLISH? Bitcoin Record Highs Keep Coming! ep150

Episode Date: February 20, 2021

In a week of Bitcoin breaking $50K, a major ETF approval, and no-coiner FUD getting more obviously outlandish, today’s panel guests riff on what has them feeling bullish 🐂. 👉 Alexandra Moxin: Bitcoiner, cypherpunk and founder/host of The Advance Tech Podcast. https://twitter.com/Alexandra933 👉 Will Reeves: CEO of Fold, one of the leading apps for Bitcoin rewards. https://twitter.com/wlrvs 👉 Rohun Vora: Creator of bitcoinorshit.com https://twitter.com/rohunvora 👉 Crypto Mags: Self-described Bitcoin addict with a vast array of entrepreneurial experience across digital asset management, carbon & electricity markets, business growth, innovation, and more. https://twitter.com/Crypto_Mags 💪 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? Welcome everybody. It's a great Friday. Welcome to another episode of Why Are We Bullish. We got a killer panel today.

Super stoked. And what a day for it. Holy shit. The price. It's just going crazy. There's laser eyes everywhere. It's fucking insane. So we'll get into a lot of that.

It's going to be a lot of fun. As always, this is live. So anything can happen. You know, there may be technical difficulties. So just a quick message from my friend Bill here. We'll do it live. We'll do it live. Do it live.

I'll write it and we'll do it live. The thing sucks. I will never not play that during a live stream. There's already over 100 people in here watching. So awesome. Smash that like button. Give this a share. Let's get this show rolling.

As always, I am Ben with the BTC sessions, and this is your daily session. All right, before we bring on the panel, let's take a look at where we are in the market. It's been a wild day. We're up over 55,000 now, 55,466. It did get up over 56 for a little while there. And just a side note, 69,000 in Canada. Nice. Now, a couple other little metrics.

here. For a single US dollar, you will grab yourself 1,803 Satoshi's. That's dropping. You cannot get as many stats for your dollar. 88.73% of all Bitcoin that will ever be mined have already been mined. And as far as fees go, if you're looking to get into the next block, around 128 sats per byte will do you. If you're willing to wait an hour, you can cut that down to 80 sats per byte, but, you know, high fees might look at a lightning network if you're doing a lot of regular transactions. I've done videos on that if you're so inclined. Over 70K, over 70K in Canada here. Nice. All right. And before we get started, of course, shout out to sponsors of the show, leaden.io. This is where you can use your Bitcoin for a variety of different

services. I've used them a few times to save my ass when I needed to get my hands on dollars, but I didn't want to sell my Bitcoin because that's a taxable event. And I was worried about having to buy back in at a higher price. So I was able to deposit Bitcoin, get dollars to my bank within 24 hours. And when I paid back those dollars, I get back the same amount of Bitcoin, which is nice. They also have their savings accounts for Bitcoin and USDC, interest rates of up to 12.25% annually paid monthly. And got to breathe. They do have their B2X offering.

It uses the same loan to maximism to instantly buy you more Bitcoin. effectively doubling your Bitcoin on the spot. You can check them out. Links in the show notes down below. If you opt to get one of those loan products using that link, they'll give you $25 for free into your savings account. Up next, we got the Kobo Vault, one of my regularly used hardware wallets. I love this thing.

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Of course, I'm living on Bitcoin. One way that helps me do that is Bit refil. They have every damn gift card you could ever imagine. Super easy to use. You can pay with Bitcoin on-chain or Lightning Network for cheap and fast transactions. And bonus, you earn Satsback as you shop. So if you're looking to treat yourself with the explosion and price, this could be a good way to do it. And finally, don't back up your wallet on simply pieces of paper because if there's a

fire, there's a flood. If you accidentally throw it out because it's a scrap of paper, you could be screwing yourself. So get it in solid steel, something like the bill foddle over on privacyprose.io. Links for that below as well. Guys, let's dive into the show. Let me get rid of my screen and bring in my guests here. Very excited to have everybody here. I'm going to go down the line and let you guys introduce yourselves. It's going to be a killer day. I'll listen to Alexandra first. Let everybody know who you are, where you're from what you do. All right. There's a little bit of an echo. I don't know if we can hear that. Oh, that might be mags. Maybe Megs, when you're not talking, just mute just in case.

All right. Cool. So I'm Alexandra last name, or Alexander 933 on Twitter. And I run the Advanced Tech podcast. It's all about emerging tech and talking to people creating the tech of tomorrow, people that are kind of grounded in today and solving problems. So it's been really focused on Bitcoin. We also delve into artificial intelligence, VR, all that other kind of stuff. I write frequently. I just had an article published in Citadel 21. It's called Outpost 77. It's a very far future sci-fi piece that brings kind of Bitcoin to the norm.

It's all about Bitcoin kind of existing. So that's my. I don't know if I've read that one. What issue was that? So first one this year, Volume 9. Oh, shit. I've got to read that. I'm going to do that as soon as we finish.

this show. I was unprepared. I did not know that was the thing. So apologies. Let's go down the line. Megs, can you let everybody know who you are, what you do? Hi, guys. I'm Crypto underscore Megs on Twitter. I've been in the space for probably three years. You may know me from such hits as Quadriga. I represent all affected users of that massive fraud and failure. I helped launch 3AQ's Bitcoin fund in terms of helping out with the initial public offering last. year. And I'm getting more and more into mining just because of my background, I spent about a decade in working with heavy industry, trying to decarbonize various types of industries, working around electricity markets and carbon pricing. And I think it's a perfect intersection

with Bitcoin. So I think those are the highlights there. Awesome, awesome. Glad to have you. Let's keep going on. I consult. I have to say that. Yes. Jack of all trades, everything. Let's dive over to, I hope I pronounce it correctly, because I haven't actually spoken to you other than Twitter, but Rohan.

Yeah, Rohan, that's perfect, yeah. Perfect. Take it away. Who are you? What do you do? And maybe let everybody know how I came across you because it's, yeah. Yeah. Yeah, so hi guys.

My name is Rohan. I'm the creator of Bitcoin or shit.com. I'm not sure if everyone here hasn't seen it yet. It's basically a website that compares stupid shit that you bought over the last decade to if you bought Bitcoin instead. And some stuff is pretty crazy. I think a shakeweight if you bought it when it released would have been nine or I think now with 55K. I think it's like $12 billion today. And there's some other less crazy examples.

But yeah, I pretty much made that site with my best friend and roommate Angel Herrera. We basically were, you know, he's the guy that Orange peeled me and I was a big skeptic before. And at first, you know, one of the first things we did when I was first learning about it was we just looked up, you know, price phomo calculators and stuff like that. And it was pretty crazy to just think of how little money could compound over time because of how important this is to the planet and everybody. And so, yeah, we just looked at that and we just thought the perfect comparison would just be the dumb shit that's lying around in our apartment and other. stuff that we bought. So yeah. And in my day job, I work in growth at like a startup called Main Street, but yeah, mostly crypto. That's, that's great. Awesome. And we will pull up that website before we get into our reasons for being bullish because I want to play a quick game of seeing who bought

what dumb shit. But I digress. Let's let's go last down the line. Will, can you please introduce yourself? Let people know what you do. Absolutely. Hey, world. How about now? Good, good. I'm Will. So I run Fold app. We have this insane job where we just give Bitcoin away. It doesn't make any sense, but we give a lot of it away to people every single day. And we released the Fold card, which has kind of been an early access closed beta with a couple thousand people. And we are on the cusp of launching it to the rest of the United States and maybe to Canada in the short future. So I'm excited to be here. Don't tease me, man. I've been in your DMs. Come on. I need it. You and Mags alone account for quite a bit of the reason why Canada is going to be prioritized. I'll say that. Nice. He doesn't even want to read my DMs.

He's like. You hear that, Canada? We're the reason. It's coming. I hope it's the top of the list then. Awesome. Well, let's get rolling here. First thing we're going to do, though, is we got a we got a, we got to.

play around of did you buy this fucking stupid shit? So what I'm going to do is I'm just going to do a few clicks here and if you bought it you raise your hands in shame. Okay, so you know, again huge shout out to Rohan for putting

this together. It's hilarious. So on the website here it says if you bought Bitcoin instead of fucking stupid shit, you'd have and then a bunch of dollar signs click here. This can't be that bad. Let's see what we get. If you bought Bitcoin instead of fucking Tony Robbins seminar, you'd have $174,312 or $3.15 Bitcoin.

Original price, $2,950 for one of those seminars in March of 2017. So has anybody been to a Tony Robbins seminar? I don't know, but isn't believing in yourself priceless? Yeah. I was going to say, honestly, this one shouldn't be on here. This is definitely 100% worth it. Who needs $174,000. I do love, I do love me some Tony Robbins.

I do have a few of his books, so I'm curious how much that translates to. Is Tony Robbins a bitquiner? I don't think he is. I just lost all respect. Oh, no. We can work on that. We can work on that. Tony, I know you're watching.

Yeah, come on, Tony. Let's do it. Let's do a couple more here. If you bought Bitcoin instead of a fucking Toy Story 3D, DVD, you'd have $12,176,000, $200,000, $219.8 Bitcoin. Who got that? I'm pretty sure I must have had. Yeah, I don't know.

This was a direct experience. Yeah. I rented it, so it's only about half of that loss. I went for the round. $11. That's worth. Look at that. Nice.

All right. Let's hit the next button or the fuck Robin Hood button. If you bought Bitcoin instead of a fucking DGI phantom drone, you'd have 4.7 mil or 85 Bitcoin. $1,200 at the time when you bought it, which was in 2013. Did anybody get a DJI drone? Oh, well. And not only that. And not only that.

But not with Bitcoin still. Bill, opportunity costs. Could have gone to Bitcoin. And this particular drone I bought lasted two days because I flew it into the freeway. So it didn't even last long. Horrible. I watched my neighbor. No one was harmed in that.

I watched my neighbor same thing, DJI drone. We learned something very important about waterfalls and airflow because it sucked it in. And then we spent an hour scouring and we only found one little piece along the room. Wow. God. Okay. Let's do one more. I should have listened to my friend.

We'll hit that button. If you bought Bitcoin instead of a fucking Wii you, you'd have 1.5. mil 27 Bitcoin. It originally cost $299 bucks in 2012. Who had a Wii U? I will admit that I do have a switch right now because me and my wife love us some Mario Kart. So I'm sure I'll be looking back.

Yeah, but is that going to be added to the site in a few years, I'm sure. But we were reminiscing. And actually, I'm going to put part of the blame on Will here because I was using Fold app when it was spend your Bitcoin on coffee in 2014 or 15. And we were talking about it. And I was like, remember when we went to Starbucks and we both got like a latte and like actual food? So it was like a $30 like Starbucks trip. And I was like, yeah, that's over $10,000 now that we spent on a single trip to Starbucks.

Thanks to my good buddy over at full will. Hey, Ben, Ben, we did give you 20% off though. So enjoy that. That's true. Only $8,000, but I do appreciate it. Yeah, this is a depressing website, but man, it puts you in check. It's fantastic. So we're going to dive in.

Again, the general rule of the show is the three R's. So the three R's are each one of us is going to give a reason. then we're going to riff on that reason and then we're going to rotate to the next person. So I'm going to start with my reason for being bullish this week and it happened today. We just surpassed a $1 trillion market cap for Bitcoin.

That is insane. That you cannot ignore that. This is a huge milestone. I mean, like it was big when it was a billion. It was big when it was 100 billion last bullmarked. That was a huge thing to see. A trillion dollars, though. That's crazy.

I feel like it's impossible, as if it wasn't already impossible to ignore by, you know, every boardroom across America, let alone the entire world. Even more so, especially today. You can't see Bitcoin trillion with a T and ignore it anymore. And the naysayers continue to be mistaken. So I don't know. I'm going to kind of go down the line and get everybody's thoughts on this. Let's go to Alexandra first. What are you feeling about the 1T today? Sure. So I'm all about the laser ray until 100K laser eyes because that seemed to do something to price. It could be. We were so laser focused on one trillion. But yeah, it could be.

What do you think this does to naysayers up to this point? Do you think they start to? look and go, wow. I hope so. I mean, one of the most powerful things we have in the space are memes. And there's another thing that happened this week that's pretty cool. So Jack, Jack Muller's from Stripe, just hired three chief meme officers. And I believe they're mostly behind the laser eyes. So that's pretty awesome. I do love it.

I do love it. How about you, Meggs? What are you thinking about the fact that we pass one trillion today? I'm super excited. I listen to a lot of macro kind of economic discussions. And for a while now, we've been hearing that the one trillion number really opens up this asset class to a whole slew of different types of investors that have restrictions. So once we've passed that threshold, you know, it's only good for NGU tech, right? A number go up. So I'm super excited about it. And I can't wait for the date where we're no way. longer seen as this emerging asset class, like we're an established asset class. And I think that one trillion helps us get there. Yeah. Yeah, it's it's definitely well on its way. Rohan, what do you, what are you feeling about the one T? Yeah. So I'm a huge fan of Kathy Wood. And I think one of the most simple sentences that she said that changed my perspective on all of this was like most people don't

understand exponential growth. And so to me, the one trillion is going to be, I think a very, very small milestone in the grand scheme of things. And it's not even that crazy of a deal right now because we're starting to get used to what a true exponential graph looks like. And so I'm very excited to hit that milestone. But I'm also just as excited that this is not where everyone's saying, oh, we hit a million. We hit a trillion. We're done. It's like, it's almost like, okay, on to the next one. And I think that's such a great perspective to see today when we did hit this milestone. Yeah. Who needs the moon when you've got Mars, right? So yeah, how about you well? How are you feeling? I mean, we are now at $1 trillion.

Gold's market cap is $10 trillion. It seems like this is any day now type of thing where Bitcoin starts to eat these asset classes. And to Mag's point, we've always talked about unit bias from a retail perspective that, oh, one Bitcoin seems too expensive for the average person. But suddenly now when one Bitcoin is worth $50K or whatever, now it seems like an asset that is for major new sources. of money to come in. Now it starts to enter an entirely new phase where we are expanding the different groups of people that are coming in here and that are looking at Bitcoin as an asset class. And we are going to look at this little bump and it's going to look like a smooth exponential curve in a couple months to a year. And it's all going to be on the way to hitting gold,

surpassing gold. And I don't see the upper limit here. I don't see the bound and I don't think we have any reason to expect there is one. Well, I mean, really, there is no top when you can print as many dollars as you want, when you're measuring in dollars, right? Like, there is no top to that when the measuring stick is infinite. So, yeah, it's just, it's, in hindsight, it was inevitable, right? Like, so it's just, yeah, anyways, very excited about this. Again, there's well over 100 people in here.

Smash that like button. give this a share. I have the chat up, so I'm pulling in whatever I see that tickles my fancy. So thank you guys for all being here. We're going to jump down the line to our next reason for being bullish. And I think, Alexandra, I don't know if you wanted to, if your specific reason was about the laser eyes or if you had another reason, but if laser eyes was your answer, then you can elaborate on it otherwise dive into your reason. Yeah, actually it was. Okay, good.

So some people watching will not have any idea what the fuck we're talking about for laser eyes, but we can dive into what's happening, why we're putting laser eyes on our profile pictures, and maybe even a little bit of Bitcoin meme culture and its implications. So you can take it away however you see fit. Yeah. Again, I think that, you know, meme culture is like we've, we've kind of memed a lot of this into existence, which is pretty awesome. And when I say me, or we, like, it's not me. It's the, you know, it's all the people of creating the memes. Like, there's some amazing people out there. And again, I think that Jack really, you know,

hiring his chief meme officer Triumvirate, I think was a really smart decision. And I think more smart companies are going to start doing that, hopefully. I mean, there's such power in memes. They're simple, but they're complex at the same time. And they, like just like right now, Nick Zabo and Elon Musk both have laser eyes. And that happened, I think, within 48 hours, right? So that's pretty cool. So there's a lot of power to memes. And the laser eye part, I mean, it's all about laser focus, right?

Like, laser focus until we're 100K and then, you know. And then we'll have to have some sort of new eyes. Somebody was, I think it was Jameson Lops, said after 100K, our laser eyes turned into diamond hands. So. I do like that. Yeah. It's so funny because it happens so quickly all of a sudden.

I mean, Bitcoin Twitter gets on something and then it just within a day, it's like you're shamed into not, whenever I started saying, replying to people on Twitter, I was like, I'm sorry, I can't hear you over the sound of you not having laser eyes.

So it just, it kind of just swept through everywhere. And now kind of mainstream is starting to notice it and go, what the hell is this? I can't wait for the headlines because there's going to be some of them, obviously, somebody's picking up. I saw somebody retweet. It was because Cynthia Loomis from Wyoming changed her profile picture, which is super hilarious. But somebody retweeted an image of it. And they're like, I don't understand it.

But until somebody tells me otherwise, I'm going to assume it's a QAnon thing. So you got to love like this to the jump up. Well, I didn't do any effort to understand the meme. So I'm going to assume it's Nazis probably. So that's hilarious because a Congress account monitors the pictures of like it's senators. And it showed that she changed it from like laser eyes that were tiny to like even redder laser eyes. It's just so amazing that we have, you know, it's someone in government putting that as well as obviously Michael Saylor and Musk. It's just, it's, it's a movement. It's, it's so funny. Roman didn't have any.

I got to, I was like, dude, you got to have some for the thumbnail. No, I get the cloud now saying I had laser eyes before Elon Musk. I mean, I don't, I get died today. It would be fine. I did want to say something on the meme thing, by the way, because this is something I think about a lot. And I think we were all faced with this and saw it with the GME thing. You know, at the end of the day, a lot of the best memes that really spread a lot actually come from like a really deep or well thought out, you know, thought process or idea or ideology. And what ends up happening is the internet superpower is taking a complex idea and disseminating it in simpler and simpler ways. And I think memes are like that final place of simplicity that it does convey 10,000 words when a regular

picture might convey 1,000 and a word might convey one. And so I think like the best memes that do find a lot of virality or people attached to really come from a well-researched or well-thought-out idea and then people simplify it to make it just hit instantly and either make you laugh or make you join in on the movement or whatever it is and I think that's yeah like now more people are catching on to that's the underrated superpower of the 2020 to the two that now I don't know yeah yeah what's your favorite meme so far guys I'm really fond of fix the money fix the world myself Yeah, yeah, that's a good one. You know what?

You go ahead, man. I mean, like, it didn't start out as a meme, but it's just like, okay, really, like, Bitcoin is now toxic masculinity. I thought that was, and then everyone was meaming that was, I thought was pretty funny. Yeah. Yeah. That's a really, sorry, just, I think we as Bitcoiners are such a strong community. Cyberhormonants are such a formidable foe against fud. And I feel like we've been banding together even stronger recently.

And then like we also celebrate our wins. And so this laser ray to 100k is us, Bitcoin is coming together and celebrating, you know, that 100K that's in our laser site. And I love that. You know, we're here for the good and the bad for each other. Yeah. A couple good ones in the chat here. Angel Herrera says fix the money, fix the world as well. And also, Towers Comics, says everything divided by 20.

$21 million. That one's great. I love that one. Will, do you have any fave memes of the past little bit? I mean, I think the money printer go-bur is one of the best roundabout ways of talking about what Bitcoin is without talking about Bitcoin. And I think I'll hit to it when I get to my bullish moment there. But I think it's always good when we, I think that meme reaches people where they're at without even being part of the Cyber Hornets. without being maybe clued into it. I think it's a real problem that is affecting every single person. And then they're asking questions about what is out there that can be a solution. And the Bitcoin community is really there waiting to welcome you. And so I'd say the Burmeme is just phenomenal.

I mean, have fun staying poor while harsh is extremely effective in good as well. I mean, weekly, we get a absolute gold star meme coming up. So I think, okay, so let's let's get a roundtable consent. Well, we may not reach consensus on this, but feelings on have fun staying poor. So I'll give my take. So I find it hilarious, but I also get why it pisses people off. But the reason I find it hilarious is because Bitcoiners, especially OGs that have been around for years now.

They've been dispelling the same shitty fud for years, and they're just so exhausted. And what would have been just hours of refuting bullshit as a service to get people to understand what's going on, has effectively a ton of people on Twitter just threw up their hands and just were like, you know what, just have fun staying poor. So I get it.

It's like a decade of just cynicism and anger over having to re-explain yourself summed up in a four-letter acronym, which is super hilarious. So to me, like, I get why some people would see that and be like, well, that's kind of harsh. But at the same time, I mean, you explain something for a decade. You're going to be a little bit disillusioned in doing it again. So I don't know. What do you guys think? Have fun staying poor. Eh, eh, or, eh.

I'm with you. I think any of my friends or like family members, if I said that to them, they just wouldn't get it. They freak out. But in terms of fighting fudsters, like Udi puts it the right way and it's what you said basically, it's like, well, have fun staying poor. And it's like they're like, how do they respond to that, right? They just like, oh, I guess it keeps going up and I am poor. somebody I think

sorry I was just going to say somebody in the chat said it's important that it says staying poor and not being poor so I guess I mean also it's it's who it's directed to right? Because a lot of people will say that to like Peter Schiff

who's clearly fine but it's like well I mean you're being an ass hat so I'm going to tell you to have fun staying poor I don't know it's related to this idea of Bitcoin as a life raft too is saying and this idea of moving your unit of account to Bitcoin is that fundamentally when we're talking about resting our entire savings in fiat you will have nothing no control

over that being inflated away that will happen you are building your house on an unstable foundation which will do as much as it can to have you have fun staying poor you can give you a lot of you know things to do along the way down but it's going on the way down and so i think to have fun staying poor is a a blunt way of saying, I think you should really look about your foundations of what you believe is you're building your wealth on and think about other possibilities. And it is a little bit about Bitcoiners being a little salty after a long time. But I think they all have good intentions. Also, it's not exclusionary.

Like all you need to do to stop having fun, staying poor is to come over to Bitcoin. So it's like the moment you do that, you're no longer. having fun. You're now no longer staying poor. So it's a very, it's a quick fix is what I'm getting at. I think you had something. Oh yeah. I just think it's a great conversion tool. I don't think people are that sensitive, especially the people I've seen this like directed or replied to. And I think ultimately like just, you know, I've been in this situation where I mean, I have friends that are pretty progressive or tech forward or whatever it is. But like when you go up to somebody or you're talking to somebody about Bitcoin, it's very hard to.

wrap it up without sounding like you're trying to convince them. And if you get into that zone, I just find it like way less effective than basically saying like, yo, I'm on this ride. Like I'm down and I think you should get on, but like it's up to you. And I feel that kind of tonality is expressed perfectly with have fun staying poor. I totally get where people say it's aggressive. But I think it's exactly we're just talking about with the memes. There's a lot of depth to it, you know, about inflation, the dollar not being like valued as much. And that's where you're putting your savings and stuff like that. But it's just put into this concise thing that's easy to spread. And I would bet a lot that that has actually gotten people to look into Bitcoin.

I love it. I love it. Yeah. Let's let's go down the line. We're close to 150 people watching live. Smash that like button. Give this a share. It really does help, but gets it in front of more eyeballs. We're going to jump to our next reason. We're going over to Mags. Take it away. I know what you're going to talk about. I'm very excited. I also have questions for you regarding it. So go ahead. So why am I bullish? Well, first of all, Canada launched the first Bitcoin ETF yesterday. And honestly, just looking at the numbers yesterday, it was incredible. You know, it traded over, 200 million in shares on its first day. And just to put it into context, this is 10 times the average of any

ETF. It would rank in like all-time top five ETF debuts. And and and and and but but we got the numbers. I just got the numbers today. Um,

from Eric, Eric Ball, who nas? He's from Bloomberg. And it's actually traded today at 350 million. So it's a 40% jump from yesterday. And three times more than any ETF. Like this like,

like it's happening. Like we got our ETF. The numbers are amazing. It's so good to see it happening in Canada, especially after Quadriga. Like we needed a win. And I think it's such a good product. Because as we've seen before, for these closed-end funds like Grayscale or, you know, 3AQ's QVTC, there was a galaxy, CI investments. There were a few closed-end funds. And what would happen is there was this massive demand from people or institutions, you know, to, you know, to, you know, to buy these limited shares. And because, again, limited and scarcity, it was causing these big premiums. So retail investors would come in and they'd be buying Bitcoin, putting in their tax-advantaged accounts,

but it'd be at like 20%. While this ETF is buying at net asset value, nav, so you're not losing this 20%, and I think it's amazing that we have this product available and not just for retail, but an ETF structure. allows more types of institutions to purchase and hold Bitcoin because some of them have specific restrictions around what they can own and an ETF kind of fits there. So I think I'm super

bullish that we have an ETF. I think it bodes well for getting one in the U.S. because this sets precedent. Like we have one, you know, just north of the border. And it's really cool that it happened in Canada. So that's why I'm bullish. So I was wondering if you could explain something. And I kind of saw this noted on Twitter. But so there's 3 IQ and Galaxy Digital and they have their their close end funds. And GBTC is the same kind of deal. Whereas an ETF is structured differently in that it more accurately kind of tracks the price of Bitcoin. And I was wondering if you knew the reason as to why in terms of why it's structured and how like, you know, one is able to accrue more Bitcoin as people come in as opposed to buying.

a set fixed amount. So maybe you could touch on that. Yeah. So I touched on it briefly. So how a closed end fund works is typically at an initial public offering IPO, they collect a certain amount of money. So let's say 100 million from, you know, people that want to invest. And then that goes out and buys about $100 million worth of Bitcoin minus, you know, different brokerage fees, listing fees, et cetera. And these closed end funds, that's what's trade. These shares, it gets split across a certain number of shares. Each shares has a certain amount of Bitcoin, and that's what's traded on the Toronto Stock Exchange or in the US for a gray scale. And now what ends up happening, though, is, you know, there's some people that they're like, I can't even begin to figure out how to

hold Bitcoin. I don't want to deal with custody or people in Canada, for example, can put it in their retirement or tax-free savings accounts, which means that, you know, in the future, I will never have to be tax on any gains. So of course, I would want to put it into this tax advantage account in the U.S. There's, I believe they're called IRAs. And so, you know, there's, there's, there's this demand because that's for some, that's the only way they can hold it in these kind of tax advantage accounts or, or like it's simpler. So that demand shows up as a premium to how much the assets are actually worth, the Bitcoin's worth. So historically, we've had as high as about 45% premium because there was such a demand for these limited shares. And,

December, November is about 20%. Today it's actually treating at a discount. As in people, I think people are kind of bailing on these funds because they're closed end plus the fees are, you know, anywhere from 1.95 to I think 1.75 for these closed end funds, whereas the ETF has a fee of 1% like a management fee of all nav. And so people are like, well, an extra 1% per year is getting eaten away. Of course, I want to keep that 1%. Right. And the last thing is, so, so, you know, these closed-on funds, they trade, you know, these limited shares.

And every now and then maybe they inject more capital. They kind of do reopenings. But the ETF is continuously buying. So it's buying Bitcoin. It's issuing or redeeming shares. And so because it's not this like scarce thing, there isn't that premium or discount. But the market is kind of getting out of whack because it's like there's less demand. for these funds and I'm looking at them right now, you know, QBTC is 11% discount, BTC,

G is again, 11, you know, GBTC, actually GBTC is a premium, which is kind of interesting. But anyways, the point is these are trading at a discount. So if you own it, you're kind of like crap. I'm not doing so great. But it gets really interesting actually from an arbitrage perspective because if you're about to buy, you're like, hey, I could buy Bitcoin at a discount to the net asset value, right? So it depends on where you are. If you already own it, you're like, not very happy.

But if you're about to buy or you have an opportunity to arbitrage, that 11% starts to looks really interesting. So it'll be interesting to see how, what kind of response there is. Maybe they're going to try to roll some of these funds into an ETF. I don't know the proper procedures and how long that. takes or if that's even under consideration right now. But I think, you know, a lot of people, I'm getting a lot of concerns. So, so I hope to see, yeah, I don't like to see my stuff shading at a

discount, right? Yeah. What's everybody think about the now that this has launched, the prospect of an ETF in the US in the mid to near term? What's everybody, feel free to jump in if you got a thought. We have one, right? Tesla. I'm just kidding.

I guess that. He's fine. I just heard today that it's a billion at zero percent interest. Like, what? Way to go. Yeah, I want that rate. I'll take that deal. I think a lot of this stuff is all about precedent, right? And I think as Mag says, you know, Canada did it. There's something that happens in the mind with regulators that, you know, if it's gone through one place, it puts it in a whole different category, whether when it's being vetted in other areas. I am curious because a lot of these companies that are having these funds like Grayscale are based in the United States. J.P. Morgan put out that report that it's going to have a temporary crash on the price once an ETF is released because all the GVTC is going to outflow.

But now what we're seeing is at a trillion dollar asset, you can't mess with the price like that like you used to. And so it's going to be interesting to see what those funds do. Do they try to roll into an ETF? Because, and this gets beyond my actual knowledge of why the hell would I keep my money in GBDC if there is an ETF? Are there any advantages there? Sorry, I just have to give this shout out to Jason who said ETF escalated toxic. But honestly, to be honest, you know, I prefer lower fees.

Most of them use the same custodian. So in terms that, you know, it's not like any of these firms are not reputable or run by criminals. So I think like I hope to see a race to the bottom, Trevor, you know, to lower fees, especially if you have, you know, a billion dollars assets under management. Like it's 1% or 2% of NAV. That's a lot of money already. It's very different if you're like at a fund of 100 million. I'm already starting to kind of see maybe this race to the bottom between what was in a preliminary perspective versus the final perspectives. They've kind of lowered the fee for I think they do this PTF that got approved in Canada. And I hope that kind of continues.

continues because you know what are you competing on right but but again it is kind of interesting to see you know if like if it's trading at a discount and like again obviously there's like a fear of how low can it go but the lower it goes the more attractive that arbitrage opportunity to become so I'm really hoping that that gap kind of closes I think it's you know everybody kind of always like when you're an investor when there's a lot of fud right It's the, you know, the anti-fomo is you're like, oh, God, oh, God, panic. And then they all get onto the train, like the discounts dropping, right? So, well, yeah, it'll be interesting to see play out.

And I hope some of this gets addressed. Nonetheless, it's, it puts pressure on the already very limited supply of existing coins and new coins, because there's just all these outflows from exchanges. So it's a, it's a beautiful thing to see. I'm going to say we're close to 170 people live. There's tons of people chatting everybody up. Smash that like button.

Give this a share. And we're going to move on to our next reason for being bullish. I'm going to drop down to it. Oh, yeah. Black Rock launches an ETF. Like, that would be insane. That might be like 10, 11 figures. So, you know.

Yeah, well, they manage what, like almost, between $8 and $9 trillion. of assets, largest asset manager on the planet. And they just the other day said they're starting to dabble in Bitcoin. The guy refused to mention a specific allocation, obviously,

because they're probably still trying to like get their position of whatever they're doing. But, you know, they're doing the same thing as Scott Menard from from, what was it, what are they called again? Guggenheim, where he was like, they projected these massive price levels.

He's like, oh yeah, 400K. And then it started rising a bunch. And he was like, oh, you know, now that's above 35K, it's, you know, you should probably take some money off the table because it's hit a key technical level. Fuck you, man. You said 400K. You just want cheaper corn and you're not able to buy until February 1st. And then meanwhile, sailor comes in at like 50K. Yeah.

I'll just, I'll just some convertible notes at 0% and just smash another. Oh, man, I love it. Let's jump down to Rohan. Dude, what has you feeling bullish this week? I think everything we're talking about is perfect for the R I'm about to drop right now. So I'm going to read this straight from the news. Coinbase bought the Bitcoin on behalf of Tesla during several days in the first week of February. The transactions went through several over-the-counter trading desks.

They said noting that Coinbase's prime brokerage arm has more than five. Fortune 500 clients. This to me is one of the most bullish pieces of news I've ever, in the recent history, heard about Bitcoin because the more Fortune 500 companies that have Bitcoin on their balance sheet to me just eliminates the regulation argument so much more. The idea that the government's going to ban their highest GMV producing companies is increasingly ludicrous. So the fact that more companies are putting it on their balance sheet, A bolsters the global reserve currency argument And B bolsters the fact that it's much less likely

The government will heavily regulate it or ban it outright So to me that's huge, huge news Five, we don't know who they are, do we? I mean, other than Tesla, right? Oh, you know, it's just Apple. No, we have no idea. Yeah. Did you see somebody put together a meme today

And it just said soon and it had it said NGU but it was the symbols for Netflix, Google and Amazon Prime, but it was the little like arrow in the shape of a you. That was that was key like again back to Alexander's point of the memeology of Bitcoin. Like that was beautiful to see that. I totally could, did not expect it. It's crazy though to see Fortune 500 companies. I think it was Pierre Richard.

He's like prediction by the end of the year. I think he said like half of half of the S&P or something would have some exposure to Bitcoin. If that happens, we're looking at, I mean, if that happens, it would be like closer to the market cap of gold at that point. Like that would be a very, very large allocation, not even mentioning the, I mean, right now only 11% of Americans own like some percentage of Bitcoin. And if you see Apple tomorrow buying Bitcoin, like you're telling me the hype is not going to happen. So if that really does come true, I think that would be absolute insanity. And I think you raise a really good point. So the more U.S. companies get involved, the more people that are deeply respected for various reasons, you know, like Elon, Shamas, legendary investors, like these guys have clout and they have connections with politicians.

They have money for lobbyists. You have Cynthia Loomis, who is a U.S. senator. She's sitting on the banking committee. the more of these kinds of things that we kind of intersect and touch the legacy world, and I know some are kind of against that because it's kind of anti-cyberpunk, but the more of that that exists, it's much harder to just tear it down. And, you know, so I think it's fantastic to see more and more of that. It's kind of like the Lindy effect, accelerated pace.

It's almost like the Trojan horse is already through the gates, and just a few, of the soldiers are starting to come down and be seen by the normies. Like it's just, you know, there's, it's weird because there's like this, this pushback from people that have grown with Bitcoin and been shown as, you know, anti-establishment. But the establishment is starting to recognize the value and be like, oh, shit, our system is kind of fucked. And maybe we should like at least insulate ourselves a little bit from that, you know, in my opinion, eventuality.

But for them, it's like, well, there's a slight risk there. so maybe we should just in case move that direction. But I think some people have a hard time not being on the opposite side of that. Some people, you know, and you see it with things like Bitcoin Cash and Bitcoin SV where it's like they're so deep down that road of we need to be contrarian. We need to always assume that the conspiracy is happening, that it's like, oh, well, because other people are seeing the value, Bitcoin has been co-opted. So you get a lot of those narratives.

So it's interesting. I'm curious to hear anybody else. Yeah. Yeah, exactly. Yeah. I don't know. Maybe I can get Will or Alexander. Let's go Will and then Alexandra.

Your thoughts. There's the the FUD counterpoint to all of this happening in the kind of community is that, okay, you have Michael Saylor put on his Bitcoin Investment Strategy seminar. You saw the SpaceX folks there. You saw, you know, all the Coinbase crackens. All of them were pitching their services. Clearly, Coinbase picked up five. major S&P 500 clients after that. Elon wanted to be the first one out of the gate,

make a big splash. Michael Saylor comes back and one-ups them again. And we still have, you know, that report came back saying 5% of all CFOs are planning to allocate to Bitcoin. And we know, looking at the retail play of this, if this was a retail group, we know probably 5% to 10% of those people would lose a lot of their Bitcoin, either getting locked out, fishing scam, a problem holding it. And so the kind of counterpoint about a potential outcome of this is that you're going to have an irresponsible custodian or an irresponsible corporate treasury who misplaces their keys. Either they're gone fishing attack, an internal rogue employee or something, and you're going to

have this major liquidation of their Bitcoin treasuries that's going to cause this renewed effort to regulate and remove the ideas of self-custody per chance. And it's all under the guise that we need to keep our corporations and people safe. Is there a risk to that? Is there a risk that we invite this if there's some catastrophic loss? Or is that an overblown conspiracy from the Bitcoin community? Curiously, you guys think. I think you might be right.

I think it was law that I was listening to recently. Or one of people that we respect kind of in the space, talking about, you know, there were, like, during like hacker days, people like hacked in to some of these funds that hold crypto and it was just kind of embarrassing how is that, you know, Bitcoin or other crypto was being custodied. So I think you're right. There are a lot of folks that might, that probably won't do it the right way, you know, maybe they won't follow Michael Saylor's, you know, playbook or Square, I believe, also open. source their playbook on how they're treating it. There was an interesting study. I think it was

2018 or 19 that finance did that showed that a lot of these big funds, like it was a surprising amount, something like 90% were keeping their fund on an exchange, like not talking about, you know, just the amount they're trading. So I think, you know, these kind of practices where they're leaving it on in exchanges and we've seen exchange hacks. They're, I, you're right i think there is instances of news because not everyone will follow you know multi-sig and cold wallet kind of best practices um so so yeah that we're in for another roller coaster i think i'll i'll disagree a little bit here just to just to um air out the other thoughts on this i think like there's actually a lot of revenue potential if you think about it for these exchanges to start bolstering

security, for example, you know, helping you get set up with your own private wallet. I mean, compared to Mount Gox to where we are today, two-factor authentication, I know is required on Gemini. Coinbase should require it. But, you know, that is actually a huge upgrade compared to the previous standards where wallets were. And that could prevent a lot of, you know, the worries with that. But yeah, I think my main point is I think Coinbase, Gemini, Cracken all have a lot to benefit by helping their users, you know, be more secure for their own sake. So they take offload some risk for themselves and for the consumer's sake because they can charge whatever somebody else would charge for those same like features for security. So I think that's like the optimistic side since it's the

optimistic bullish thing. But yes, Mount Cox is definitely a very scary thing that I read about. Yeah. Well, I mean, what's the benefit of holding on to more people's Bitcoin? If they're not actively trading it, it isn't like assuming you're not running a fractional reserve, which I mean, some may. But if you're not running a fractional reserve, what inherent benefits come with taking the additional risk of custodying other people's money? I don't know if anybody has a thought of that. Staking in the future, maybe, I guess. But like even that, I just, I don't think it's worth the risk, right? Like, they're a remote company.

Like, it's the bigger this gets, the more the pie. gets for someone to hack it. And I think they're heavily incentivized. Coming back to Satoshi being the goat, goat, you know, they're heavily incentivized to figure out how to get people to have their own wallets and maintain like offload that, I think. But yeah. I think the exchanges that don't custody, you know, like bull Bitcoin and hoddle, hoddle, I think, you know, people should be looking at these more because, yeah, Bitcoin is all about self-sovereignty. And it's not about like, you know, no one says just trust us in this space. You gotta be kidding. Right. So it's important that you take your security seriously.

And a lot of that onus goes to the user. And people aren't used to that. People are used to just like, I don't know what to do with my money. You just take it because you'll hear the professional, you know. And how many people have been scammed that way, right? Yeah. Yeah, I totally agree. Actually, to your point, like, again, exchanges like the way that bull Bitcoin in Canada operates,

like you can't even leave it with them if you wanted to. So in order to purchase Bitcoin, you can send dollars to them. But once the dollars are in your account, at the point you decide you'd like to exchange those dollars for Bitcoin, they require you to provide a Bitcoin address. Otherwise, you cannot trade those dollars. So effectively, like right away, you have to have self-custody. And I do like that model. I know Swan allows for them to custody for you, but Swan also does really, really push

that kind of self-custody. you know, best practice. I'd like to see a lot more of that, whether we will or not, I do not know. But to your point, you know, a lot of people are very, very used to that handholding and that babysitting. And I even had somebody this past week, an old friend of mine. And I think the message I got was, hey, I really, I really am interested in getting Bitcoin. I don't have any time to research anything. I don't want to learn anything. I don't want to learn to self-custody. I don't want to learn to do anything. Can I just give you money and you buy Bitcoin for me and then hold it? I was like, I'm not taking the time giving myself the tax implications of having been shown as buying

Bitcoin on an exchange that I later explain as somebody else is and then holding and securing it for you. You're fucking crazy. Here's a tutorial on how to do it. Take like half an hour and just like Start, come on. But yeah, like, nobody wants to do anything for themselves. And Bitcoin is the antithesis of that. Bitcoin is all about personal responsibility. Yeah, go for it. I'm just going to say that's where our government cracked down, like, especially after Quadriga,

once it, you know, what we learned was that the founder took our money and he traded it away and lost it on other exchanges. He bought, you know, houses, boat, plane, cars, etc. And so when regulators came in, they cracked down on custody. And is it immediate delivery? For example, both Bitcoin. And if it's not, it's a security. And there are very strict regulations and guidance now around with your

in exchange and your custody on behalf because of like these really bad actors that we've seen in our industry. So custody is such an important piece and so important. And I think too, just for a person to better understand Bitcoin, I think you need to hold it yourself and then send it to someone just to see it in action. And it's a very different feeling than just, you know, buying an ETF. Yeah. Yeah.

And send it to somebody at like three in the morning on a Saturday when banks wouldn't even think of being open, right? I love it. I can't wait to see. And it's already kind of happening. But I love the idea of traditional finance, like not being open over the weekend and having no way to deal with the fact that like Bitcoin just moves. over the course of a weekend and everybody's freaking the fuck out before Monday morning everything opens up like ETFs and stuff like that. Holy shit. Can you imagine? Can you imagine the kind of implications that we're going to be seeing as like a US ETF drops and you see that kind of a gap over the weekend? It must be very frustrating right now for anyone that wants to buy. And by the way, we have a second US government representative,

Representative Warren Davidson, who now has laser eyes. I knew what I was going to say, is Warren Davidson on this? Because he's the dude that was used in the word shit coin in the house, which is so hilarious. I love it. I have a question for you guys. I'm curious, like, do you see the future with more people owning Bitcoin on an exchange or like with a custodian? Or do you see it?

Like, what do you think is more likely? custodian or them owning their own keys and everything like that. I think that's a one. For example, some of the more higher net worth individuals that I know, like they're quite vocal in saying, I do not custody myself. It's with CASA or some other company because they're worried. They are worried about the $5 rent attack. So it's not so much like it's, yes, there's a self-sovereign element,

but there's a real legitimate concern of rent. you know, Bitcoin's forever. And if someone comes in and threatens family, friends, like, it's so, it's,

yeah, it's a lot harder if someone comes to your house, right? Yeah. I kind of get the feeling, sorry, sorry, I kind of get the feeling that we'll have,

I mean, institutions are seemingly getting on the, you know, you're not your keys, not your coins, kind of train. Some of them are starting, I think that's some of the outflows

from exchanges that we're seeing. but also I mean as more retail comes in inherently they're going to they're not going to take those extra steps initially so I think we'll see some ebbs and flows as there are some high profile losses which I'm sure are only a matter of time before they happen again then people will learn their lesson also we had a great example of why why leaving custody up to somebody else gives you no power over your own money with the whole Robin Hood thing right people had money somewhere they expected to be able to do what they want with it and they found out that's not the case and some of those people not all but some of those people have clued into the fact that if you're outside of that system and you have custody then nobody can fuck with your money and so I think that was one of the dominoes that will spur that realization and I look forward to seeing that play out but I know Will I will and Alexander you had something to say so yeah let's do will and then you I don't don't really have any yet you took my my two things there number one um looking at there's been a record outflow of uh bitcoin off exchanges to cold storage incredibly bullish at the same time of this cultural moment of gm uh proving like an a good-hearted uh movement but then realizes that they're just playing on the wrong they're playing the wrong game that's stacked against them they cannot you know remake the master's house with the tool so i think that is going to be huge now does that

stand or do people forget? People have very short memories. So ultimately, I think it's about up to the builders to make incredible tools and services that make it increasingly easy. And I think Unchained, Kasa are really in the beginning stages of setting the groundwork for that. And it's only going to get better. You know, it's one of those things. It's like, just wait and see, wait and see. I'm very confident that self-custody is going to be made into something that is, you know, not easy, because self-custody should not be easy. The whole point is personal responsibility. But at least we'll have a really strong framework

so that it's not the default is to leave on a custodial exchange. Yeah, 100%. Alexander, you were going to say something, I think, too. Yeah, I think people aren't used to having power, right? They're just not. They're used to either having it completely eclipsed or they're just not in a position. So it's very new to people that, you know,

you own your financial freedom. It's not beholden on someone else. So that alone is a paradigm shift. And what's really interesting is you see that in the Bitcoin community, you know, you start thinking about money and better money. And then you start making better decisions in your life, just in general. You know, you eat better. You work out more.

You get better sleep. You know, you meditate, like all sorts of other things, right? So it's a really interesting shift back to kind of giving power back to the people. And I think that's one of the most interesting things at Bitcoin Unlocks. I think we'll see this more. That's awesome. I have the power. That's cool.

You, Yovus. So I think, you know, going forward, we're going to see that, like, in the next probably 10 to 20 years, hopefully we'll see a much more empowered society. You know, it's all about the sovereign individual and reclaiming your sovereignty. And I think that that's really baked into the Bitcoin ethos. So hopefully, hopefully that'll continue. Of course, there's going to be companies, they're going to get in and they'll self-castity and they'll lose, you know, buckets of money. And that's going to suck, but hopefully they'll learn. And hopefully that doesn't happen to the average consumer.

Hopefully people can do the right thing from the start. That would be great. And I think, you know, we do have examples of companies that are doing things right. Again, like, well, Bitcoin. So, you know, go to them, custody to your own Bitcoin from the very beginning. Don't get involved in the schemes where somebody is just going to hold your bags because, like, they're not going to hold them for you, right? Yeah. Yeah, I agree.

And I like your point about the second and third order effects of change. the personal responsibility of money because it does kind of through osmosis leak into the other parts of your life you you start considering things for the longer term your time preference just shrinks and you start saying well you know if i'm if i'm this considerate with like the some of the basis of every decision that i make in my life should that not extend to my health to my family to every choice that i make and i definitely experienced that over the past number of years and sometimes it takes a while to get on that mindset and you know you you still have high time preference activities that you partake in. I'll have a glass of whiskey here and there and buy some dumb shit that's on Bitcoinershit.com. But, you know, like in general, you make better decisions I find over the long term. So, yeah, I do totally agree with that. What we're going to do now is we're going to move to our last, our last panelist, last reason for being bullish before we move on, though.

Again, we've had well over 200 people in the general. chat at times here watching live smash that like button give this a share and keep chatting it up i'll keep bringing up your chat messages here on screen as we go uh but will it is yours the stage is yours and i am curious to hear what has you feeling bullish this week i i there couldn't be a better or more difficult week to tell you exactly what's making you so bullish because they're just about every damn thing is going the right way but uh i would say i will i'll i'll bring this full circle. So yours was we reached a trillion dollar market cap. And maybe 24 hours before we did that, the U.S. government announced that they have a two million dollar spending bill. So double the

market cap of Bitcoin is coming. And if we look back just in the last year, the money supply was inflated by 22% alone in the last year. And so what this is saying is that we are barely into this year, halfway through the second month of 2021. And we are. clearly on track to not only meet last year's records, but surpass that. And what it shows is at the same time, the kind of, but I would think of the kind of Godzilla battle of two monies coming together. The U.S. dollar, which has infinite inflatability, printability that can be used to send air drop checks to people all around the country, be used for, you know, many other things. You know, whether you disagree or agree with them, doesn't really matter. Then you have

Bitcoin that just kind of runs along, process blocks every 10 minutes. And you start to see that this year is being set up for this massive kind of expose of these two money systems that are operating in tandem. And that one of them was, you know, once a fringe thing, now is quickly going to meet the market cap of gold. And we start to see this battle starting to come together. And you look at one of my favorite Twitter accounts to follow is the account that follows what you would have, what your $1,400 stimulus check would be now if you would have put into Bitcoin, which is now $10,000. So you start to look at that and you start to, you know, take these, okay, one money, one monetary supply can print as much they want and air drop magic checks to people. It's amazing.

But at the same time, the more they're printing, that check they sent you is being further and further inflated away, where there's other monetary supply that is growing at record parabolic speeds now turn that $14 into $10,000. And I think we are going to be increasingly facing this fact, the good and bad of both systems, the challenges and opportunities that both afford, because, number one, Bitcoin is now matured and evolved into something that can take a $1.5 billion. chunk of a Tesla treasury and we'll do that through all the S&Ps and it's both at a point of infrastructure, access for retail, for corporate, that really has not been true of it since

its founding. And so I am bullish on getting to the final boss level this year and seeing how we uphold and how these two systems kind of have this dance this year. I think it's going to be fascinating to see. But I just... sure is hell and lucky that I think I'm on the right side of the fight. That final boss at the Bank of International Settlements is a beast. He looks scary. Did anybody see him? Is he the final boss will or is there someone else now?

We don't even know. We have to figure, we have to solve this one first and then the next one will be revealed. Yeah. Did anybody see the meme of, this is what's holding together the traditional financial system and it was like the button on his jacket? we're in trouble

oh man I love it I but will I totally agree like it's it's just all all of the things that are lining up right now you couldn't have asked for a better story for Bitcoin to be in the midst of a bull run like if this had if all of the world events

that are happening right now had happened a couple years prior like in the midst of the bear market, you know, there wouldn't have been this kind of like storybook, like rise of, you know, a David and Goliath kind of story where David is rising up and Goliath is starting to wobble. It's so interesting to see all of the things that Bitcoin has been talking about and just beating that dead horse for years. and now it's actually in front of us. You're seeing everything that people have been saying, they're going to keep printing money. And then now I have my normie friends being like, can they just print that much money?

Like money doesn't mean anything anymore. I've heard normal people say that to me, the same shit that everybody in Bitcoin circles have been saying for years. And it's crazy to see those light bulbs start turning on, all of those light bulbs in our own heads that have turned on over the past 12 years depending on when you got in. We've had those moments and now we get to see friends and family members, hopefully have those moments before it's too detrimental to them.

So maybe I'll pass it down the line. Let's jump to Alexandra either commenting on anything well said or if you've seen people in your own life that have started to have those light bulb moments because of all of the world events lining up. Yeah. So first I want to shout out to it's WTF in. 1971. It's one of the best sites to go to to find out what's wrong with the world today. And Bitcoin helps fix that. So yeah, take the time, get, you know, get empowered, get to

get to learn what's broken and realize that Bitcoin like fixes so many things. And, you know, Bitcoin really does kind of fix everything at its core. So now that we have strong money for the first time, probably in history, at least, you know, in recent history, just think of what that unlocks, right? Yeah, absolutely. Mags, do you want to tag anything on to what Will's thoughts were? Yeah, I think Wolver is some really good points and just kind of along that line. So for a long time now, we've kind of really focused on explaining what is Bitcoin.

Because people, like, we felt like that was the key thing. Like, people just didn't get it. But I'm finding, I think now when someone comes to me, you know, asking about Bitcoin, I'm not thinking what. I'm thinking why. For example, that Ross and Michael Saylor, Ross Stevens, Michael Saylor interview, I think is just like so eloquent and it jam-packed

and it really explains why. And I think those are the kinds of things that we need to focus on next. And it's tricky because there's like, we all have dove into this, you know, there's macroeconomic issues at stake. There's the incentives that kind of like, we've all spent so many hours of time putting them together and it seems so much clearer now but I think it's and memes probably are helping because they're so you know you're packing in

shortly but I think we we need to get a better way to in a short kind of you know short clips or or whatever communicate that because there's just so much that goes into that and and it's and and I think why starts to get at that you know because I am getting a lot of you know people coming in and like, oh, it's so high. Why is it so high? Like, this can't be sustained. But if you dive in, you know, you see that you can. So I think we all need to, you know, find good resources existing or make shorter ones that help help that.

Yeah. Before I get Rohan's comments, I just going to give a shout out. Howard Floyd, dude, what the fuck. Thank you. He's dropped like three super chats. I think he's dropped like $140 bucks on this episode. So, I mean, thank you very much. I will try and pay it forward a little bit and find some plebs that maybe need a couple tips as well.

Or maybe I'll support some Bitcoin businesses from some of this. But again, thank you. And thank you everybody that's in the chat right now for chatting up and being here. We're at 210 people watching live, smash the like button, give this a share. I'll get Rohan's thoughts here on everything we're talking about, about this perfect storm that we are seeing because it's pretty wild. What do you think, man? Yeah, first of all, Howard, you're a fucking beast.

That was awesome. It's cool to see. Yeah, I honestly just think we are ridiculously early in the Bitcoin, like, universe or just like where Bitcoin is meant to be or where it's going to end up. And I think that that can continue to be very exciting for more people to learn and figure it out. I think that's the biggest thing, you know, that we were just talking about, a lot of people feel like it's too late. And I think the education on like the people that really care or have a lot of stake in Bitcoin

do not think this is too late. Like almost all of the big whales are, the institutions are not buying it 30,000 to go up to 50,000, you know? And so I think that's a big piece of education that is an exciting place that we're in describing the perfect storm. Hey, like it feels like we're too late, but we're actually just getting started and being able to explain that concisely with you know I think would be really really awesome to continue seeing how the movement develops and yeah like that's why I just think this one trillion thing

is just going to be forgotten in in two months just like 30k was forgotten in like I think like three or four weeks or something like that yeah God think how boring 30k is right now oh god I I swear I remember when it was a 30 like when it was hovering there I just thought oh that's the price of bitcoin like yeah like 30 something k I forgot oh yeah like a month ago and I was like, wow, 12K or 17K, that's a lot. And I feel like we're going to feel the same way about it at 50 right now. Well, not even a year ago. We were at 4K.

Like, holy crap. Oh, mind me. So we just did a little look back on our, actually, Rohan's site actually inspired us to go and do this. So we were looking at a site and like, oh, my God, look at all this money. We could have had it wasted. And they were like, oh, if only the fold card was there back then, at least, you know, we'd gotten some rewards for that. and what would those be? And we looked at our users who are stacking in that March area.

And anybody who's stacking in that area, now anything they purchased was 50% off. And it's just like it's insane to see how that it's just when you start to think about this Bitcoin standard and what it does, it is pretty amazing how it can affect all, you know, it can affect a corporate treasury in massive ways. You know, Elon made more money on the money he put into Bitcoin than actual car sales and you look at just everyday consumers just trying to save money preserve purchasing power who now got all their goods for 50% off like that's real help and that's bitcoin delivering it to basically every person in whatever context that has it so i think it's just a tool that's so powerful and to rowan's point nobody is too late this is the exact time and the least

risky time to ever get involved that's the biggest thing yeah yeah yeah Yeah, it's, I, I, I, you know what, guys, I don't know if we could finish it on a better note. So I think that is going to be our closing note. So what I'm going to do is I'm just going to go down the line one more time. First of all, I want to thank all of you guys for joining me. This always makes my Friday. And this was a killer fucking group. You guys all nailed it.

So thank you for being here. We're going to go down the line one more time. Let people know, once again, who you are. And more importantly, where to find you, like if you got a Twitter handle, a website, whatever you want. let's start with Alexandra. Sure. So you can find me at Alexandra 933 on Twitter. I have a couple of websites.

You can find the podcast at advancedtechmedia.org, and that's Advance without the D on the end, because it's all about moving forward. My personal site is advancedtech.io. And I want to give a really quick shout out to a Canadian comedian friend of mine who's not able to do live shows because of all the social distancing garbage.

So give them a follow. you can find him at Unfamous. Simon King. He's been doing this for like almost more than 20 years. Funny, funny guy. Awesome. We'll do. Check him out.

Simon King. Let's go to Meggs. Megs, let people know who you are and where to find you. I'm Crypto underscore Megs on Twitter. You can DM me. I'm available for consulting. We have a sister channel for education. That's Bitcoin and Spanish.

It's been around since 2014. Just education. Very similar to what. does. We're starting to get to do that as well in English just beginning. So please be patient. But that's under the MetaMesh channel. And yes, I think those are the main ways. Awesome. Awesome. Let's jump to Rohan. Let people know who you are, where to find you. Hey, guys. Yeah, my name is Rohan Vora. You can find me on Twitter at at Rohan Vora. Or if you just search Bitcoin or shit, you'll probably like find me that way if you don't know how to spell my name.

And also my roommate, I have to thank him so much. We really worked on this together, and you should check him out. His name is at Los Angel Herrera. If you just look up Bitcoin or shit, you're going to find it. So, you know, thank you guys so much for listening. And thank you so much BTC sessions. This is, like, truly amazing. Thank you so much for hosting this.

This is so fun. It was a blast. I was super glad to have you. And Will, you can round it out here, let people know who you are, where to find you. Yeah, you can, I'm, Again, as I said at the beginning, I'm basically in the business of giving Bitcoin away everybody. So I'm at foldap.com. You can find me on Twitter at WLRVS.

And you might know us from other projects like Lightning Pizza, Playbitopoly.com, and some other fun ones that are coming. So thank you all. Ben, this has been awesome. And we will be in Canada shortly. Don't tease me, man. Oh, my God. fact that you could maybe win a Bitcoin, like, holy. I get so much trauma.

And actually, I'm almost like, I want to mute these guys because you don't want to hear about people winning a whole Bitcoin. I know. Oh, God. I love it, though. Guys, panel, thank you so much. Everybody in the chat, thank you. I'm going to drop everybody's audio and video and do my little outro.

But feel free to stick around to say a quick goodbye after we go offline. So thank you guys Everybody watching Guys you're awesome This is crazy There's such a good turnout today I love it Thank you so much for watching

And or listening if you're listening to this audio Only on the podcast later If you're on YouTube Please do hit like subscribe and share I know I say it a million times But holy shit does it ever help More people watching more eyeballs It's all gravy if you do that

Of course if you want to help the show another way you can hit up the previously mentioned sponsors down below. That was Ledden, Cobo, BitRefill, and PrivacyPros.io for the Bill Fottle, all linked below. I also have links for all of our panelists. Their Twitter handles are all down there so you can check them out. And if you really liked what you saw, you can drop me a Bitcoin Lightning Network tip at my tippin. dot me page. Why was I not sharing my screen there?

Anyways, there it is. at my tibbin.me page t-i-p-p-in-d-me slash at btcc sessions with that i am out have yourselves a wonderful evening a wonderful weekend wherever you may be and i will see you next time for your daily session