BTC Sessions - WHY ARE WE BULLISH? Bitcoin’s Immune System Electrifies The Haters! ep141

Episode Date: January 23, 2021

In a FUD-filled week that resulted in widespread white-paper hosting, CSW roasting, and other decentralization pushes across the Bitcoin community, today’s panel guests talk about what has them feel...ing bullish 🐂. 👉 Mr Pseu: Host of the podcast “A Boy Named Pseu” and Author of the upcoming book "On The Money” https://twitter.com/MrPseu 👉 Justine (AKA MsHodl): Passionate advocate of freedom and Bitcoin https://twitter.com/MsHodl 👉 Brady Swenson: Head of Education at Swan Bitcoin and host of the “Swan Signal” and “Citizen Bitcoin” podcasts https://twitter.com/CitizenBitcoin 👉 Camila Campton (AKA Bitcoin Camila): Perpetual Bitcoin learner and Shitcoin Twitter nemesis. https://twitter.com/camilacampton 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/ 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

Transcript
Discussion (0)
Starting point is 00:00:20 Wasabi wallet and fairly private. What is going on, everybody? I hope you're all having a good Friday. We're back for another episode of Why Are We Bullish? Plenty to be bullish about. It's been a fud-filled week, but we're going to dispel some of that fud and give reasons why we are mega-bulls, why we're so bullish on Bitcoin, why we're excited about it.
Starting point is 00:00:49 And I've got some awesome guests. So very excited to get it. get started. As always, this is live. You never know what might happen. So a quick message from my friend here. We'll do it live. Okay. We'll do it live. I'll write it and we'll do it live. You never know what might happen, but welcome to the show guys. I am Ben with the BTC sessions and this is your daily session. on in the market before we bring up our panel. So I am here on the bitbo.io. No, I'm on my Twitter. Oh, I'm on the bitbo.io dashboard, which is badass. You should check it out if you haven't already. We're sitting around $33,455 some odd dollars per Bitcoin for a single
Starting point is 00:02:01 US dollar. We've just dropped back down below 3,000. So for a single dollar, you'll grab around 2,989 sats may as well stack them while you can. 88.61% of all Bitcoin that will ever be mined have already been mined. That'll be 90 by the end of the year. And as far as fees go, if you're looking to get into the next block, around 56 sats per byte, if you're willing to wait an hour, around 15 sats will do you. So not bad, actually. Probably a good time to send some of those low fee transactions if you want to get some
Starting point is 00:02:36 through. Before we bring in our guests, of course, quick shout out to sponsors of the show, Lendon. I.O. This is where you can use your Bitcoin for a variety of different services. I've used them in a few instances that really saved my ass where I needed to get my hands on dollars, but I didn't want to sell my Bitcoin because that is, of course, taxable. And I was worried about having a buyback at a higher price. So I was able to use their Bitcoin back loans. They've, of course, also got savings accounts with interest rates of up to 12.25 percent annually paid monthly and their B2X offering uses the same loan mechanism to instantly buy you some more Bitcoin.
Starting point is 00:03:08 You want to check them out. Links down below if you opt to get either of their loan products. They'll give you $25 for free into your savings. Up next, Kobo Vault, one of my regularly used hardware wallets. I love it because it is 100% air-gapped. You never plug the thing into an internet connected computer. Everything is done via QR code, which keeps your keys safe and offline. Open source firmware, secure element, works with all the greatest wallace, Bitcoin core,
Starting point is 00:03:38 Wasabi, Blue Wallet, great for multi-sakes. So check them out. For reference, I'm using the Pro with the fingerprint scanner and the rechargeable battery. Of course, I'm living on Bitcoin. I'm as all in as you can get. I earn Bitcoin and I spend Bitcoin. But it makes me a better saver because I value my income more. So one of the things that I do use to survive is Bit Refill.
Starting point is 00:04:00 They have just about any gift card you could imagine or need and they're available in just a plethora of countries. Be sure to check them out and you can earn sats back while you spend. So check them out bitrefill.com. And finally, if you're backing up a wallet, you might not want to stick it on paper because that's susceptible to fire to water damage. And you might throw it out because it's just paper. If you're looking to back it up in something a little bit more secure, you can check out the bill foddle over on privacyprose. It's a solid hunk of steel with tiles to keep your seed phrase safe from things like fire and paper and you in case you accidentally throw at stuff. So be sure to check them out. But with that, let's close out what we're doing here and let's bring in our friends that we have waiting by. We've got Camila. We've got Phil. We've got Brady and we've got Justine. Welcome panel. How are you guys doing? What's up?
Starting point is 00:05:00 Bullish. Bullish as fuck, buddy. That's awesome. I'm so glad, you guys. If you guys have not seen this show before, if anybody watching has yet to see this show, and you're kind of wondering what the gist is, we go by the three R's here.
Starting point is 00:05:18 So everybody's going to give a reason why they're feeling bullish. Then we're going to riff on said reason. And then we're going to rotate. So we're going to take it one at a time. I'll be calling people. about asking them why they're feeling bullish. And we'll just kind of go through. Let me quickly get up a banner here because breaking entire panel is bullish as fuck.
Starting point is 00:05:40 So I'm going to get started here. My reason for being bullish this week is the low quality of fud that we are getting. It is just a goback to 2017 all over again. It's the same shit. It's like watching it happen again and being and it's like Groundhog Day with Bill Murray and you're like, I know this. I know what's happening. And it's just like such an unfair advantage. It's like having a cheat sheet to get rich because it's literally you see the same shit happening.
Starting point is 00:06:17 Like the fud, yes, the other day was there was a double spend, which it wasn't a double spend. It was just a replaced by fee transaction and the low. fee one out. So anybody watching that's not familiar with any of what I just said. Effectively in Bitcoin, you attach a fee to your transaction to get it through. You have the ability using something called RBF or replaced by fee to redirect those funds if they have yet to be confirmed. And so somebody did that. However, two miners can also mine a block at the exact same time. And it may take more than a single block to determine the consensus of who owns what. And that's effectively what was going on. There wasn't yet consensus on where that money
Starting point is 00:07:07 was. So it just took a little bit of extra time. And people took this as Bitcoin is broken. Somebody duplicated their Bitcoins and spent them twice. And anybody with like just a momentary look at what was actually going on would have understood this. We even had a company dump their Bitcoin because of the news. I think they were called next gen, which or next gen tech or something like that. Anyways, they're not very well in tune with the next generation of tech as it would. Yeah, it was bad. So let's chat about this.
Starting point is 00:07:45 Phil is experiencing, he is as on top of the technology as next gen, it would appear. But he'll be popping back again, I'm sure. Let's dive into this and kind of, I guess maybe I'll pass it down Brady's way first. Dude, how are you feeling with the quality of fud that we're getting this time around? Or if you want to comment on anything specific or what I was talking about, what's your take on? I'm so disappointed, man. So disappointed. It's the playbook all over again.
Starting point is 00:08:21 I want to see these people get creative, right? All right. So this is another one. Just another great example. Let's see. Late mid-December, this guy who runs the Guggenheim Foundation, right, lead investor there, says that Bitcoin should be worth $400,000. All right. Same time he files with the SEC because, you know, this is a regulated organization. So their intention to buy some Bitcoin, right? But the filing says that they can't buy Bitcoin until the end of January, January 31st. So what comes out yesterday?
Starting point is 00:08:53 Uh, Guggenheim CIO, Bitcoin could retrain retrace to 20k this year. Barish prediction by Guggenheim CIO. This was like just like five weeks after saying it's going to go to 400k and we're going to buy a bunch of Bitcoin. And yeah, I mean, he's, he's, uh, what, nine days away from being able to buy in. So this is what they do. They come out and they're like, oh yeah, it's going to, it's crashing. It's going back to 20K. Time to sell off.
Starting point is 00:09:19 Time to take some profits. I don't know why he would want to say that. nine days before his deadline. It is super hilarious when you saw that the initial start of this kind of retracement and he's on the news saying like, well, it's
Starting point is 00:09:34 kind of come back from that 35K target, which I don't know when they made that 35K target, but they said it's moving too quick and it's bad news, time to take money off the table. And I mean, what are you talking about? If it's 400K, any price under 400K is a deal.
Starting point is 00:09:53 Like if that's your projection. But this is what they do. I mean, it, it's happened in 2017, a whole lot too. Yeah, and the one you were talking about, the reorg, it was coin telegraph that published that piece, right? That there was a double spend and Bitcoin was broke. Initially, it was Bitmex was saying, oh, we noticed something funny and they weren't. They have a block reorg like monitor, basically.
Starting point is 00:10:18 So they have like a script that monitors for block reorgs. And it happens, one block reorgs happen all the time. time. It's like every two weeks. Two block reorgs happen, you know, like a couple times a year. So they have this little monitor and it like just went off. And somebody at Coin Telegraph who doesn't know what they're doing, like read this, you know, this kind of regular thing that Bitmex puts out and as a double spend and Bitcoin is broken, I don't know how that like nobody must have no editorial staff must have seen that or anything. So anyway, it was, it's ridiculous how far I went to. It's bad. Yeah. It's pretty. It's pretty.
Starting point is 00:10:53 awful. Justine, what are your thoughts on the recent FUD, whether it be this or just general FUD in and around the dips? I mean, I got in in like early 2017, I think, late 2017. 2017, I saw the FUD, right? Like this is when I was learning about Bitcoin. So for it to be coming back, I'm like, but we already did this. Like, we've already been through this. So yeah, I mean, I think the FUD, like, if this is all they can do it. this point that's mega bullish I mean it's just so weak and then you got Craig he's like oh shit the price is up I got to I got to try to start suing people again like it's just it's comical um
Starting point is 00:11:35 the poor company dumping man oh man I mean I think they'd only been holding it for about a month which luckily they weren't you know down much I think they actually still made a profit but it shows how like there's still a lot of education missing that people still have absolutely no idea what they're doing and and I mean I don't know there's there's some bullish aspects to that for sure yeah it's it's funny yeah the company that we're talking about yeah they they had uh they bought something like 130 bitcoin they held it for like a month or whatever it was and they made a on a 130 bitcoin which is like over four million dollars to purchase they ended up making like 200 grand and then sold and that was it like what are you what are you doing what are you doing
Starting point is 00:12:21 What is you're horrible I can't like 200k on 4 mil is it's funny because like to normal people that deal with like the stock market that might look pretty good
Starting point is 00:12:37 but when you think that they were holding the scarcest asset that humanity has ever seen that you know like it's literally everything divided by 21 million and they're going to dump that for 200,000 like pump and dump.
Starting point is 00:12:57 Because they didn't know, right? And just think about what it was a couple weeks ago, like how much they were up a couple weeks ago and they're like, oh, there's this, there's this news article and we should just dump it all. Like imagine the guy. Imagine the guy who goes in and he's like, guys, I read this thing. Like we have to dump it. And I mean, can you imagine?
Starting point is 00:13:17 Can you imagine it's going to be one of those tweets that we pull up in a few years of like, oh, how's that going for you? Yeah, it's rough. It's so hilarious. Camila, what are you feeling about the FUD here lately? And I mean, you're on the forefront of Normie fear on TikTok. You probably encounter a lot of people who are like relatively new that are like, what's going on? Is it broken? Yeah, it's so funny because obviously I wasn't around in 2017. So to be experienced, seeing this right now. It's like, this is what Fudd is. This is so, yeah, this is so sad for the people who have weak hands, especially like normal people and then all of these big companies. So it was funny. I was having a conversation yesterday about how people are panic selling right now, but I'm
Starting point is 00:14:09 panic buying. I'm just looking at that price dip and just being like, okay, how many times can I just smash by and try to get those sweet Satoshis that people are just dumping? Let's give it a forever home right now, and it's some fun for me. Just a ducking those Satoshi's. I love that. They're forever home. I'm going to start saying that on Twitter. Some lonely sads just got down there forever home.
Starting point is 00:14:35 I like it. Phil, how about you? What are you feeling about the fud, man? This is really my first bull run, but I'm feeling pretty bullish about it because it's, like, the reason why I'm bullish to begin with is because I'm so bullish. on people's stupidity towards Bitcoin. Like I tweeted that this morning, and I mean that in a sincere way,
Starting point is 00:14:57 because it's more so that I'm bullish on people's curiosity, because the more Bitcoin is in the press, good or bad, like they hear and learn about it. You know, it's like the Streisand effect, so no press is bad press, and they'll do their homework because they heard about Bitcoin for the first time. And so maybe they'll find shows about this and like stack a swan, or just, you know, listen to countless hours of like audiobooks, Bitcoin Audible, like whatever.
Starting point is 00:15:27 So hopefully that's like the first step in like the Bitcoin becoming the virus. But yeah, hopefully they don't shit coin. And well, even if they do, they'll find their saving grace and burn themselves. Well, they're saving grace is Bitcoin. And they'll just find they're saving grace with us Bitcoiners. And, yeah. It will change them for the better. It's like, I'm not the same person since I found Bitcoin.
Starting point is 00:15:55 But yeah, it's just, uh, follow like your curiosity because Bitcoin really stimulates that. And it's, um, I don't know. I'm really just, it's like the fud just boost Bitcoin's anti-fragility, if anything. It's kind of like Bitcoin is like this masochist and he's like, yes, sir, man, I have another. But like, this is what Bitcoin needs. Like, Bitcoin needs a beating so it can stay anti-fragile. And any, like, regulation or fudpiece or, like, whatever, it's like, clean more.
Starting point is 00:16:28 But can we have some, like, new beatings, some fresh beatings? Because it's just like the same thing. We're anti-fragile to all of this stuff already. Like, please, come up with something new. This is ridiculous. We haven't even talked about tether yet. Either way, like, Bitcoin's like Wolverine. Heather, the environment thing.
Starting point is 00:16:42 Yeah. I mean, I think that I'm going to say, like, from all the fud that we've heard lately, I feel like the double spend is the best, quote unquote, best. Because at least it's like, okay, so there's a little confusion there, right? So people who are not aware, they maybe saw that and they were confused. I don't know that binnecks should be confused. I think that's who first reported it. But like the general public, I could see that being a little bit confusing.
Starting point is 00:17:06 But when we hear like tether or boil the oceans or stuff that it's like, no, just a quick Google search. Well, very quickly clarify that for you, you know. like if I'm going to have to choose at least the double spend is like oh okay I could see how that could be confusing for you okay fair um but yeah it's I think it's good overall for sure yeah it was actually some high quality some highish quality fun yeah well and the beautiful thing about it is I mean maybe 2017 was a tad early uh to expect people to remember um some of the stuff that happened back then because it wasn't quite as widespread you know you'd see this the odd news article or something about it. Now it seems to be thrusting itself more into the mainstream and hopefully this time around going through some of that same fud, but with more of a spotlight on it, it can only, it's like all of the China bands in 2017. First time China bands Bitcoin.
Starting point is 00:18:07 Oh my God, it's over. Second time China bands Bitcoin. Wait, didn't you already do this? And it loses all of its. It loses all of its effect. The market is still pricing in all of the shit that they don't understand as a threat to Bitcoin. And as they realize it's no longer a threat to Bitcoin, then they no longer have to price in that risk. So yeah, I think we're just in the midst of that, of people realizing, oh, wait, it wasn't a double spend.
Starting point is 00:18:39 Oh, wait. Now, I clearly I don't understand Bitcoin. Next gen clearly will not be understanding Bitcoin for a little bit longer. But whoever made that call on the cell is probably going to lose a job later on this year. So, yeah. I think what we can do. Well, we'll round out the my reason for being bullish. We'll just, we'll just sum it up with poor quality fud is bullish for Bitcoin.
Starting point is 00:19:10 in general. But let's move down the line. Let's get another reason for being bullish. Camila, I'm going to go with you first. What has you be feeling bullish this week? Well, aside from being able to stack some stats, honestly, just seeing a lot more people be interested in Bitcoin and a lot of new beginners starting to ask a lot more questions. So I'm going to bring up clubhouse. It sucks that it's not available for everyone because I feel like it is such an amazing tool for you to get proper information from the get-go and just hearing all of these brilliant minds in one room where you can be like, okay, this is something I'm probably going to trust more than some headline that I find on Twitter. So we've seen a lot of people just saying I'm brand new to this. I'm completely brand new.
Starting point is 00:20:10 Let me ask some very basic questions about Bitcoin. And what I've found about it is that it's a lot more humane because people are nice and people want to be able to just, you know, adopt more Bitcoiners. It may not be as harsh as Bitcoin Twitter can be when people started asking about other coins. But in these rooms, for the most part, right? Because you always have the person that's trying to,
Starting point is 00:20:38 instigate something. But for the most part, everyone's super welcoming and everyone's just trying to get so much information. And these audiences keep getting bigger and bigger. So that makes me feel pretty bullish. Yeah, it's pretty awesome. That's awesome. Brady, have you been over on Clubhouse there?
Starting point is 00:20:57 Yeah, man, I bought an old iPhone just to get on the app. It's for real. Yeah, Corey got on and started talking about it and it sounded awesome. And he's like, you guys got to get on. So I went on eBay. I found a used iPhone and I got it and just installed it right away. I got on. And it's like talk radio kind of for like at the internet age.
Starting point is 00:21:18 It's sort of like you can bring people. You have a moderator and you have a stage and people who are on stage can talk. And so I did a session called Bitcoin for beginners. And it was just one night. Started at like 9 p.m. Central and answered questions for four hours. there were, you know, 130, 40 people in the room, probably 50 people came up and asked questions.
Starting point is 00:21:44 And it was just me and Brandon Quidam and Brecky and we just had one person come up at a time. And I mean, you can run rooms in lots of different ways, but that was just like a very talk radio kind of way. Like here, we'll take our next call or next question. And it was so good. I mean, people were asking great questions. And like Camilla said,
Starting point is 00:22:02 it's like bullish, so bullish. And it took me back to, like, like the first couple months of discovering Bitcoin and just that, that, that, that, that thrill, the, like, kind of naive excitement of, like, you know, just that first, yeah, the first couple months was just so, so awesome. And I kind of, you know, after a few years, sort of, like, lose that, you know, coming, like this hardened hodler and you're just, like, you know, putting up, like phalanx, you know, like, like a hoddle, you know, like memes on Twitter and stuff. And that's what you turn into.
Starting point is 00:22:34 But it was really fun to talk to all these people. And then there's some other rooms where it's just, you know, like people will pop in, like Jesse Powell, CEO Crack and popped in the other day. Andreas came in and talked for quite a while the other day. So more and more Bitcoiners are getting in there. And you can go to t.me slash Bitcoin Clubhouse. That's where we're kind of hanging out on Telegram. And people are, like if you want an invite and go there and people have invites and we'll toss you one.
Starting point is 00:23:02 And you can hop in and join the fun. but yeah, it's been bullish for sure. That's awesome. Have Phil or Justine, have you guys been on there yet? Yes. Yeah. I'm going to say Phil probably. I haven't.
Starting point is 00:23:15 I have not. I feel like clubhouse is that black hole that if, like you have, there's just so much time. So it's like I want to be a part of it, those conversations. And if they were like maybe a scheduled board I could jump into, but I'm like, I feel like I just my life has been really crazy lately and I don't have time to devote to the black hole currently but it sounds really cool and I think that the conversations are I think what we all kind of live for is sitting around and chatting about Bitcoin so yes very supportive but I have not I'm not gone there yet yeah it's I popped in briefly uh when Camila sent me an invite which thank you for
Starting point is 00:23:56 that by the way and I'm welcome and I jumped into a group and I listened and I talked a little bit and and holy crap does it ever like you just you get going and then you're like oh it's been an hour it's been two hours and and i was like oh i i have things to do i have a child to pick up i have one yeah so i had to get back to life um but i will go on there again i'm just man i'm i'm fine in the time you know and in that same vein actually last week just amongst like my normie friends. So on Facebook, and I know, yes, I have a Facebook account, but I need to educate the normies. But I just on my own personal page with friends and family, I said, hey, anybody that wants to learn a little bit and is curious, I'll just do like a Zoom meeting and anybody can come in.
Starting point is 00:24:51 And so just having that kind of close environment with like 20 friends and family that I could just like chat through stuff very easily and have them ask questions was was awesome and it's cool to see people starting to reach out and learn that way so yeah Phil maybe we'll jump to you um how has it been for you uh on on clubhouse and other mediums for for talking with and educating newcomers yeah it's great and sorry i died and came back so i'm on my mobile now so if it's a subpart quality then uh you know it's better actually so they get but anyway. No, it's great. Like, I've really sharpened my like Bitcoin pitch, I guess, but it just really makes you feel a lot more comfortable talking about this,
Starting point is 00:25:41 especially because these are people that are coming to you wanting to learn. Whereas, you know, when you feel lightly to like your family during Christmas, it doesn't really roll out the tongue as easy. So it's really refreshing to actually, you know, with arms wide open, embrace these people that actually want to learn about Bitcoin. And after the questions of like, well, I got my Bitcoin on Coinbase and I heard it's pretty good. What's a hardware wallet? Like those are great questions to answer. Like you need to answer those. But then even like after like an hour of that, it like the conversation really gets like to a deeper level.
Starting point is 00:26:20 And everyone kind of like kicks off their shoes and it just gets like really chill and real. And I love it. I wish it was on Android for other people, but it's great. Like, I'm making more friends. It's pretty much, and it's better than Twitter, but mostly because, like, mostly because you can actually, like, vibe off of, like, what American Hoddle was saying more so. And, uh, it's kind of funny.
Starting point is 00:26:48 And Tina. And Tina. Oh my God. Yeah, the first time, the first time Tina came on, I had to, like, DM him on the back end and be like, dude, this is not Twitter. you need to be nicer. And he's like, oh, okay. Sorry. It's funny in the dynamic.
Starting point is 00:27:06 It's good for Bitcoin. Somebody did, it was Mario Gibney over a block stream, did a poll earlier today, and he was asking what people thought of, of have fun, staying poor. And whether they thought it was fun or cringe or me. And I voted fun because it's in the name. But I also find that it's just kind of a hilarious culmination of literally going over the same talking points for well over a decade.
Starting point is 00:27:43 And like a number of Bitcoiners just kind of like threw up their hands in frustration and then summed it up in a four letter acronym. Like how fucking funny is that? And so I get if somebody new comes in and they're like, I'm going to buy a. Ethereum and you're like HFSP, that's not exactly like corral them down the correct path, but
Starting point is 00:28:06 I also understand the sentiment and where that came from in the buildup. So like, I get it. I find it funny. You know, I'll help. But if somebody's like super, super resistant to every talking point that somebody has to say, then sure,
Starting point is 00:28:23 just throw down an HFSP. I don't see why. I've got the club version of it it's have fun learning more and so somebody comes in and I'm just like have fun learning more and all of the Bitcoin is like chuckling in the background you know most people who have a problem most people have a problem with it don't get it right like I've never seen a Bitcoin or go to someone who's like hey I really don't understand this concept they're like have fun staying poor like it's not used that way it's when egotistical jerks are like just fudding or argue it's like okay i don't have time for this like i'm sorry you don't get it
Starting point is 00:29:01 i don't have time to explain it so when people are crying about it i'm like really like are people really going to the less fortunate and telling them to stay poor like is that really happening so i think it's fun it should not be your opener just like s uf should not be your opener yeah but it's a no probably not i like brady's reworking of it because it reminds me of the simpsons episode where Mo asked the red hot chili peppers to change the lyrics to their song. Can you change it to what I'd like is I'd like to hug and kiss you? I listen to that. So great.
Starting point is 00:29:42 Love it. Okay. So I guess what we're getting at here is there's a lot of great kind of new onboarding mechanisms for newcomers to learn and bypass a lot of the garbage that they would have been exposed to without these kind of great ways to discuss, which is awesome and was much needed. And I'm very happy it's here. And I think it's a great bullish topic to have touched on. So Camilla, thank you.
Starting point is 00:30:08 Before we move on real quick, Benny, because I hear this often, especially when, you know, new people are coming up and asking questions, you get referred to a lot. You get suggested and name dropped all the time as a place to go for new people to learn. I've done this like a dozen times. Like go to PCC sessions. You'll answer every question you need. Yeah. You got a video for everything.
Starting point is 00:30:31 Well, I do have a fuck ton of videos. Somebody is always like, and you explain this to me. I'm like, here, watch these and then come back with questions because there's inevitably some sort of catalog back there. But yeah. You need to make a playlist for noobs. Call it that. Yeah. Yeah.
Starting point is 00:30:51 There's five years of tutorials sitting there. I was lucky enough when I started the channel that I had like a full because I started in an early 2016. So there was like a year's worth of tutorial content already sitting there when the bull run really got ripping in 2017. And so like I went from like 100 subscribers and nobody giving a fuck to like, oh, I have a lot of questions to answer. And now I'm like, I can't answer all of them, but I can attempt to. So yeah, it's it's nice to have here. But there's so many good educators out there now. And when I started, I felt like that wasn't the case.
Starting point is 00:31:28 And now it's like any number of people have created amazing tutorials. And like the provocative, like thoughtful content that's out there is amazing. Like anything Breedlove, all of the like Sailor interviews are like, I don't, I don't know how he did it in a single year to understand that much. and like you know you've got matt matt odell and marty bent over at tfdc those guys fucking kill it there's just so much good stuff and like all of the swan like also the the the bitcoin tv idea the corn hub thing is
Starting point is 00:32:05 when you just need like straight into your veins bitcoin content like yeah just hook up the iv of course but yeah like there's so much great stuff so yeah all and all excellent excellent newcomer learning stuff coming through the space. So we have discussed my reason, which is WeekFUD. We've touched on Camilla's reason, which is kind of the clubhouse slash onboarding.
Starting point is 00:32:35 Brady, what has you feeling bullish lately, man? I've been talking about this for quite a while, but this is the most bullish thing that exists in my mind. And I brought slides. Can I screen share? You can absolutely screen change You can make him go last
Starting point is 00:32:53 They're really just tweets Over is it This is a well-organized presentation We've ever had on this channel Here I'm going to hear all over Because really you've got to see this All right
Starting point is 00:33:07 Okay So what we're looking at here Are this is the price Right Just going up and then These are all the different exchanges These are coins available on exchanges in this little text here just shows which exchange.
Starting point is 00:33:20 So each color is a different exchange. The point is, look at this right here when price started running up, broke all time high last time in 2017. We had some people like, all right, I'm going to accumulate. We're getting ready for a bull run, so I'm going to take some coins off the exchange and hold them and try to catch the top, right? Well, look at this.
Starting point is 00:33:39 Massive, massive decline as price is going up, unprecedented in the history of Bitcoin. These are people taking their coins. off exchange. Now, what's important about this is, look, three million coins on exchange. That's like liquid Bitcoin available at any given moment. That's where it peaked. We're all the way back down below two and a half million liquid coins available and they're coming off the exchange at like 100,000 every like six weeks or something like that. All right. So this is like supply stock. Here's another one, right? Price going up just coins available for sale, plummeting,
Starting point is 00:34:16 going off into cold storage. Here's a chart from Willie Wu. Unprecedented. Like, this is coins coming off exchanges right here. This is like, this is like each bar is like per like week, right? So like last week, uh, 250,000 coins came off at exchanges. It's insane. All right.
Starting point is 00:34:34 So there's the point. I'll stop screen sharing now. But like that is insane. And what happens, right? When this bowl really gets ripping is you combine that with the having effects. We have 900 coins per day instead of 1,800 coins per day coming on exchanges. But this just dwarfs that in terms of creating a supply squeeze, right? 250,000 Bitcoin's coming off exchanges in a couple of weeks is dwarfs to having effect.
Starting point is 00:35:01 So I think that when corporations, like Preston Pish was talking about this, fourth quarter filings are coming out for corporations here pretty soon. and those public corporations have to disclose a Bitcoin position if they have one. Preston thinks, and he has his ear to the ground. He knew about the micro strategy thing well before that became public. You know, people like CEOs call Preston to talk to him about Bitcoin and like best practices and stuff like that, like his opinions on this stuff, right? So he's basically saying there's a lot of companies that are going to come out, public
Starting point is 00:35:33 companies, and their fourth quarter filing saying disclosing they have Bitcoin positions now. Right. So that just like adds on to the what I call hoddle fomo, right? This is like people who are fomowing in to hold Bitcoin for the long term. So I'm turning fomo around on its head. You used to just be like trying to chase those fiat gains. Now it's trying to chase the chance to hold Bitcoin at a decent, like get in your hoddle position at a decent price. That's the hoddle fomo that's happening right now.
Starting point is 00:36:03 So it's just going to stack up and stack up. These coins are going to be coming off exchange. And then what happens when you only have like, you know, one and a half million, million liquid Bitcoin available for purchase any time and micro strategy wants to come and buy 50,000 of them. You know, like it's just going to create candles that are just like so big, like $10,000 daily candles and bigger because there's going to be such a supply squeeze and who's going to sell? And if they're targeting $400,000, then that's where it's going to go.
Starting point is 00:36:30 I just, you know, it's, and I think it's going to go a lot faster than people think because just so many coins come out of exchanges. Yeah. That's what I would be about. I would. I love that. And it's, I mean, one of probably the best reasons, just data-based reasons that everybody should be feeling pretty damn bullish. Honestly, I think when you talk about 10K candles, yeah, absolutely.
Starting point is 00:36:54 I think that's easily within the realm of possibility. I remember last, last bull run in 2017, at one point we had, you know, it had gone up a bunch and it had dropped a bunch. And I can't remember in which direction it was, but somebody posted a screenshot and said, LOL, the entire 2013 bubble in a single five-minute candle. I think we're going to see stuff like that. We're like in a one-day candle. We experience the entire 2017 bull run. Like you could easily see something like that.
Starting point is 00:37:34 And like, you know, 20K when you think about. it like in the context of potential multi hundred thousand dollar bitcoin 20k is like a a pretty small percentage of that we've had 10% rises and drops in a single day so a 200k bitcoin price 10% drop 20k you know 10% rise 20k it's not outside of the realm of possibility especially with gugenheim assuming that it's going to be double that um yeah exactly like people people that dumped recently may be dumping at an entire price point that is less than a weekly candle. Oh, my. Can you believe that, right?
Starting point is 00:38:18 Yeah. Yeah. I mean, those, those, uh, what are those guys name? Next gen tech. They're going to be looking at it. They're going to be like a, you know, there's going to be a $35,000 candle, like weekly candle. And they're just going to be like, yeah. That guy.
Starting point is 00:38:31 That guy really fucked us. Oh, my God. So let's, let's. Let's pass it down the line. I mean, if anybody wants to jump in, whether Camilla, Justine, Phil, if you guys want to jump in and talk about this kind of liquidity crunch, either from an institutional standpoint or from even a personal standpoint, like, are your coins liquid? I'm guessing not. I told you, they found their forever home. Yeah, no.
Starting point is 00:39:01 Yeah, I think we're all holders. Go ahead, Phil. if you sell you're stupid like you're selling i mean have fun staying poor have fun staying dumb like if you want to actually store your wealth somewhere forever and it's not going to get diminished by the fed like you're going to buy bitcoin and you're not going to freaking touch that like at all and i'm really like bullish just on people i think um vallis wrote article about this but like i'm bullish on them in the fact that they will wake the hell up to how the world really works.
Starting point is 00:39:38 And even, you know, just this past year that happened, people are really starting to question what the hell really is going on. And because Bitcoin is going to be in the press, like I said earlier, like no press is bad press. People are actually going to start asking the hard questions because you have, you know, half the country or like whatever half.
Starting point is 00:40:02 You know, like the world turned out in a way that they did or do not plan. to and they're just kind of questioning how the system really works in like the long run and so I think it's going to be plainly obvious that I don't know like everyone feels like they're crunching for an extra dollar and I just really help that Bitcoin kind of you know knocks them on on the head a little bit yeah it's true and I mean you see it from from like for my friends that have started started to dive down the rabbit hole, the change in them as they start to understand and ask questions about how money works currently and the difference between that and Bitcoin, they handle themselves differently. They realize that, I think, as Jack Mallor's coined the term, they're operating their life as a loss. And it's very much true, right? Like, if you, if you, you know, if you had an agreement between you and another person and you said, hey, I know how to build, uh, fences and you know how to do flooring. And you spent, uh, 10 hours of your time building a small fence for your friend. And they said, okay, I'll spend 10 hours of my time building, uh, doing your floors next year. And then a year later, they were like, well, actually, that's going to be nine hours, maybe eight and a half. Uh, so I hope that's
Starting point is 00:41:36 cool because, you know, there's some time has passed. You'd be like, what the fuck? Absolutely not. What are you talking about? So, yeah, but this is what we do, right? We give our time up at the expectation of being able to redeem it at some point in the future for a comparable value, but we don't get that. And it's not the merchant's fault. It's it's the money's fault and the people that control said money and siphon off value. So yeah, it's, it's, it's, it's, It's eye opening as people get into the space. I don't know, Justin, if you wanted to tag on anything or Camila. Yeah, I was going to say, I think it shows a lot about the good educational content that we have,
Starting point is 00:42:21 that you're seeing that decrease of people holding it on exchanges, and I think that's bullish as hell. I know that, I mean, like, when I entered the space, if I would have found Twitter, maybe things would have went differently. But I remember being really confused when I tried to look into it. So I think that the fact that holding your coins on exchanges is known as not the thing you should do is a huge improvement. I think that's awesome. I think it's super important. And so those numbers are hellablish personally.
Starting point is 00:42:49 Yeah. Hellablish. Always. Always hellablish. Yeah. I mean, people are realizing that the money in their bank account isn't actually their money. And so what else are you going to do than buy Bitcoin? Yeah.
Starting point is 00:43:05 Yeah, 100%. Yeah, I think it's, people are sure. Go ahead, sorry. Oh, no, I was just going to say that, that I had saved up so much money for my first job. And it was sitting in a bank account. And the whole time I was thinking like, you know, good job, Camilla. You are so ahead of the game with how everyone else handles money. And then when I learned about Bitcoin, I was like, yeah, take that pat on the back, back.
Starting point is 00:43:29 You're just getting started to learn about what money is. You can put it back on again. Yeah, now I can. So, yeah. So yeah, absolutely excellent, excellent line of thought in terms of a data-based approach to being bullish. We don't we don't just spout bullshit here, guys. This is this is backed up by science. Science says it's time to be bullish.
Starting point is 00:43:54 So with that, yeah, exactly. With that, I'm going to say also anybody watching, we've got like almost 150 people watching live. So smash that like button. give it a share that helps get this in front of more people and keep commenting i'm seeing uh i got to give a shout out tapro at uvis thanks for the super chat oh he's always here always watching so um yeah every coin show amazing yeah out tapruduvus man yeah yeah yeah yeah he's the reason why he named himself that he needs to get taproot on everyone's mind yes we need bit better active and with that um oh there we go um oh there we
Starting point is 00:44:33 I've got to give a shout out to my friend here, BTC Hardy. He says, have fun patting our backs. That's a great one. I think we should bring that over to the iPhone app and get everybody feeling good about themselves, right? So it's like the roundabout way of saying have fun being rich or have fun staying rich. Yeah, exactly, exactly.
Starting point is 00:44:55 So excellent topic so far. Let's jump to Phil. Phil, dude, what has you feeling bullish right now? so much and so little just because it's Bitcoin and I know what it's going to do. So, you know, that's kind of like one thing. Like, you know, it's going to go up. But like I said jokingly earlier, like I'm bullish on people's stupidity. And that might sound kind of harsh.
Starting point is 00:45:19 But what I mean by that is that, yes, you have all the fun pieces and you have these regulators that are trying to regulate this thing, but they don't know what it is. And they're just kind of doing whatever the hell they think is good for, them or the world or whatever but it's just again like anything that tries to like take out bitcoin is super bullish for bitcoin because you know bitcoin's going to come back and we just need like the biggest threat model like shock test that we can get for it um like i i really meant what it said that like bitcoin is this anti-fragile beast and we need to see everything like hit it in its face because um Like, that's how it stays anti-fragile.
Starting point is 00:46:05 And, um, yeah, I'm just, I'm just bullish on really the future. I'm bullish on, uh, you know, all the, the people I get to evangelize, make friends with on clubhouse. I'm just really bullish on on, I don't know, kind of running off right now. Really like, people holding coins and really understanding, like, what a store of value this truly is because it is straight theft from people. like just everything that we saw of the six, seven, whatever
Starting point is 00:46:35 trillion dollars that were just like printed it on nothing. It's like, what does that mean to you and the labor that you invested to accumulate wealth? It's really just it's sad. Like these people empower, I think that just the sheer hubris they have to think that they can play God with your lives
Starting point is 00:46:54 and make decisions for you to enrich them. And like, you know, that's why I'm all about this. And that's what Bitcoin fixes. And not everyone that comes in is going to get to this level. There we go. Not everyone's going to get to that level right off the bat. But as long as they get to the point where they just question what is money, then they'll be fine. Yeah.
Starting point is 00:47:19 And because they're buying Bitcoin. Yeah. I like your pulling on the thread of, and it kind of lines up with the fud. But Bitcoin's anti-fragility. comes from the fact that it has been attacked on so many levels. On a state level, it's constantly at the whim, or not at the whim, but like, you know, there's a multi-hundred billion dollar bounty on trying to find something wrong with the code.
Starting point is 00:47:50 And when hundreds of billions of dollars are not enough incentive to find a way to break it, it should give you a pretty good level of confidence in the underlying system. And the whole legacy financial system is built on the opposite supposition where they're saying, okay, we'll just lock everybody out, make sure that nobody can get in so that we have control over this and then we're fine. But then people find those back doors. They find those ways in. They find those weaknesses and they're able to wreak havoc.
Starting point is 00:48:24 And one of those weaknesses is the maintainers of the system itself. and they're so used to playing God that they think that they can continue to get away with it and they think that their godlike powers in their Fiat ecosystem is able to transcend over into this Bitcoin ecosystem and it's just fucking not going to work guys
Starting point is 00:48:45 I hate to tell you but it's not so I think some of them like Jerome Powell fucking owns Bitcoin like you know he does like some people like they're not stupid maybe they're
Starting point is 00:48:58 evil, but they kind of know where the ship is going. And so I think it's important for us to keep that in mind. Maybe they do. Maybe they do. I don't know. I asked Daniel DiMortino Bootha. She wrote the book Fed up. She was the right-hand analyst for Dallas, the Dallas Fed Chair. And he was the, right, well, this is what's interesting, right? He was the only one who like dissented against the idea against Kiwi. And she writes in her book, like, all of those people think that they're right. And they spent all of those years going through college and justifying, you know, the way that they think about economics and monetary policy.
Starting point is 00:49:47 And it just runs through all of the Fed banks all the way up to the top. And I'm like, I asked her, I'm like, do you think that they know? Like, do you think that they see that they're wrong now? Now that all this is going down, she's like, I honestly don't think they do. I honestly think that they are convinced that they're going to be able to save this, turn it around. And I don't know, maybe you're right, Phil, like, because it's getting so bad. Like, it seems inconceivable that people would not be able to see. Like, but those educational blinders, you know, like they've just spent, they're so,
Starting point is 00:50:18 they've got so much skin in the game to believe that their line of view, their worldview. Yeah. it's maybe hard to turn around, you know? I mean, the best thing they can do is just keep printing more money because they think that's a good idea, but we as Bitcoiners know what that really means is that they're going to print themselves into death and Bitcoin's take over.
Starting point is 00:50:39 Yeah. Corey's giving me shit. Why's nobody in the swan slack? Sorry, Corey. Jacking half of his staff. Yes. And Phil, to your point, yeah, I think, and, and Corey, or not Corey, sorry, Corey, to Brady's point too. Then Corey, he's doing left out.
Starting point is 00:51:04 Yeah, yeah, Corey, jump in here. I, yeah, like, some people are just so far down or so far up their own asses that they can't see the writing on the wall, right? Like, like, there's a number of Peter shifts in the world, you know, he's just like the perfect shining, you know, self-wrecking example of it. But, you know, like he's out there today tweeting about, was it something like, oh, well, you know, he's
Starting point is 00:51:34 now on the Francis Coppola line of, well, it's divisible so clearly. Oh, yes. I saw that. And everybody's like, so if we smash the gold into dust, are the individual atoms of gold making it no longer scarce? And he's like, well, I mean,
Starting point is 00:51:54 with more gold, I could make more jewelry. So that's why it's worth more. With more dollars, you can buy more goods temporarily. With more Bitcoin, you can buy more goods in perpetuity. So, I don't know. Yeah, it's, it's, yeah.
Starting point is 00:52:10 That one is really, really embarrassing. You know, walks around like Snoop Dog with a fucking gold chain on. I'm going to get those, I'm going to get those open dime cuff links. Yeah. but I want them cast in gold.
Starting point is 00:52:26 So I take great pride in my frame. Yeah, yeah, exactly. The gold covered, yeah. Do you have one of the open dimes that are gold? Oh, oh, yes. I don't know. I framed Peter Schiff tweet. It was from,
Starting point is 00:52:40 it was from, of course it's in gold. But it was from January 6th of 2020. I'm going to read it out again because I don't think I can ever not read this enough. Like, it's, okay, so Peter Schiff said, For those Bitcoin bugs, excited about Bitcoin's 4% rally in 2020, think about this. Gold is also up by about the same percentage this year, only with significantly less downside risk. Is this really the best rally Bitcoin can muster? How will it ever hit 50K, let alone one million?
Starting point is 00:53:14 Man, this is aging like milk in the hot sun. It's just like Bitcoin was like 7K. at that point. That's insane. Oh my gosh. Have fun. You know, I bought gold in like 2003 or something and I was down the whole damn time. So I'm just saying, Peter, like, you kind of led me the wrong way.
Starting point is 00:53:41 I used to be a Peter fan. And now I'm like, how can he be so dumb? He's got to be trolling us, right? Like, there's no way he can be. I think he is. That absolutely retarded. 60% of me thinks he's trolling. and that he's using his son as the proxy to carry his bags.
Starting point is 00:53:58 Maybe. Yeah. He gets a lot of engagement from it. I'm bullish on, you know, there's shift gold, but I'm bullish on the creation of shift sats by his son. Like, it's only matter. I'm like, how can you not do that wordplay? Spencer calling out his dad publicly on Twitter is like one of the best things.
Starting point is 00:54:16 That was amazing. Yeah. Yeah, 100%. But, yeah. Yeah, there we go. If Schiff, BTC Hardy wants to know if Schiff is down or up his own ass. Down. So let's get another topic.
Starting point is 00:54:38 Yeah. I got to take this second at the break. And I'm sorry, Justine, I'm going to miss a chance to talk about your topic. But I got it. I got to bounce right now. We're getting a new puppy today at our house. That's exciting. So it's very excited.
Starting point is 00:54:52 It's a rescue. Mostly Australian Cattle Dog or Healer and Pitt. Super cute. And yeah, our older dog is going to be really happy. And hopefully, like eventually that he has a friend to play with. We're getting both stats and puppies finding their forever homes today.
Starting point is 00:55:13 That is amazing. Our new puppy, Bowie. It's Bowie. Bowie. It's got like a lightning thing over one eye. So I think we're going to call it. and Bowie. Oh, perfect. Nice.
Starting point is 00:55:23 I like it. Ben, thanks for having me on. It was so good to hang out with all of you. Yeah, no worries. Guys, check out Brady. I've got a link to his Twitter down below and you can find everything else for him there. But dude, thanks for joining us. Appreciate it, man.
Starting point is 00:55:37 Anytime. See you once. Cool. So I guess what we'll do now is we shall dive into Justine's topic. I'm just curious. What has you feeling bullish this week? and we can go and riff on that. Well, I had said in the tweet, or in the chat, I can't talk anymore,
Starting point is 00:55:56 there's so much to be bullish about lately. You know, like, every time there's a dip, I'm bullish. Like, it's just everything just makes me bullish. But one of the things that I saw today that I think goes back into the education aspect, which is something I'm really passionate about, is Michael Saylor doing his Bitcoin for Corporations Conference. And I thought, you know, like, this is something. I remember tagging Michael,
Starting point is 00:56:20 on Twitter about because there was something happening and like these institutions are so misguided. They have no idea what they're talking about. And it was like somebody needs to help these people. Like somebody needs to educate them. So I'm pointing this out as something I'm bullish about because I have to, I have to admit something. When Michael came into the scene, I was a little unsure of him. The dude seemed very into getting engagement on Twitter. And I was like, you know, anytime somebody comes into the space and people immediately love them, I'm like,
Starting point is 00:56:49 I'm hurting for your heart because you're going to be hurt. You know what I mean? Like you're waiting for them to start shilling B-cash or something. So I've been a little bit of a critic on Michael. And so to see him really step into this and not only fully getting Bitcoin, like getting Bitcoin like we get Bitcoin, but trying to go out and teach other people. And I think it's huge because these corporations,
Starting point is 00:57:12 they don't want to listen to a Twitter troll, right? Like, sorry, but these are institutions. So they want to hear it from somebody who is like, them for one, but also has kind of been through it and been down that road. So to actually be going out and offering, like, here's our playbook, here's how we did it. Here's how you can use, turn your cash reserves into Bitcoin reserves. Like, I think that's hell of bullish. I think that's exactly what we need to sort of help adoption in that realm that maybe a lot of us don't have that reach. He can just step right in and fill that. And I just think that's super, I think
Starting point is 00:57:46 it's super cool. It's really cool to see. And that made me bullish today. Yeah, maybe if next gen would have just had, you know, just waited a little bit until that event, they could have. Oh my God. Yeah. Like, yeah, and I agree. I think it's healthy to have that skepticism. I mean, obviously, if somebody comes out and they've got like an excellent piece or, you know, do a great interview and they kind of really encapsulate everything. And I mean, the quality of the stuff that he was saying was definitely very, um,
Starting point is 00:58:19 You know, it was it was interesting to see out of somebody so new. And I think that's part of the reason for like the mass fanfare that he got out the gate. Now, I will say, I think that he, he's got a great take on the store of value proposition of Bitcoin. He's got like, he's got that nailed down. Where I don't agree with him is around some of the like, transactional nature of Bitcoin and actually being able to utilize it as a currency. Because I think that comes eventually. I think, you know, first we have to go after that store of value and it's not going to be all
Starting point is 00:59:02 in one fell swoop that we get like medium of exchange and a unit of account. Like we don't get all of that right away. It's you got to pick your battles and store of value is clearly first. But, you know, some of the comments that he's made, I think it was an interview on BTC Times where he was talking about how he doesn't think that it, you know, it's really like a currency to be used that way or anything. I disagree. But I say that from a perspective of I live on Bitcoin.
Starting point is 00:59:35 Like I earn 90 to 95% of my income is Bitcoin. And then I find ways to make it work in my life to do that. Yeah, I've got to jump through some hoops. but I've also found that I'm a lot more thoughtful about where I put my time and my energy and my resources in my life. Oddly enough, I'm more likely to buy the expensive thing because I know it's going to actually last longer and work instead of the trinkety bullshit that will break in a month and I'll have to replace it multiple times over. So I'm just I'm more likely to, you know, hire somebody to build something for me, you know, somebody local that I know, was really good at what they do. I'm more likely to save.
Starting point is 01:00:22 So like the vast majority of my income now, I'm way more likely to be like, do I really need this? And if I do, let's make sure it's done right. It changes your whole perspective on life when you only, when you only expose yourself to dollars
Starting point is 01:00:39 as a necessity to pay a bill. It really has kind of this weird life-changing effect when you do that. And I know, I recognize not everybody can get paid in Bitcoin. I recognize that it doesn't make sense to move from dollars to Bitcoin back to dollars. So that makes sense. So if you're paid in dollars and then you're buying Bitcoin, then yeah, dump the dollars. Pay for shit with dollars and hold the Bitcoin.
Starting point is 01:01:07 You may as well dump the worst money. But I don't agree with his takes on people won't use it as a currency because I fucking am right now. So yeah, yeah, I don't know. You have to wonder, like, people will use Bitcoin how it sees fit for them, right? Like, and a lot of people won't get Bitcoin until they need it. They won't get it until they have to get it. And so I think for him, and again, I haven't been one of those. It's like, yay, Gigachad.
Starting point is 01:01:33 I think that's where he sees the value. That's where he sees the aha moment. So like a currency to him, well, he doesn't need a damn currency. Like, no, this is his reserve. Like, this is for a corporation. Like, my God, stop the bleeding, right? So I think that it just will come in time. I think that he absorbed a lot.
Starting point is 01:01:52 And I think it's one of those things that will look back on that comment and be like, oh, okay, like clearly he was still, he was still learning. And I mean, I still think keep your guard up. I don't trust anybody in this space. But, but yeah, so I was really glad to see him kind of stepping out and offering the education aspect that maybe a lot of us can't. So I thought that was cool though. If, if they agree with you completely.
Starting point is 01:02:12 If Trace Mare wasn't safe, then nobody's safe, right? Right. Nobody's safe. don't trust, verify everything. To that point, though, I think it's really valuable that he is taking that, like, precautionary approach that Bitcoin is an asset, it's not a currency. And in that way, like, the sooner that people will start accumulating Bitcoin, they, they can become, like, the 1%.
Starting point is 01:02:35 I think, like, if you divide all the Bitcoin that is out there by the amount of people, it's, like, you know, if you have $70 worth, like, you are ahead of that, like, denomination. And so if that's the case and Bitcoin becomes prime real estates and people can do things like borrow against it and never ever separate themselves from their Bitcoin, especially if there's like collaborative custody like Unchain Capital does, like people can actually, you know, like live off their Bitcoin in some extent, like treated like prime. Bitcoin back loans. Yeah. Like everyone is able to actually live like a rack's to riches life in that. case. Everybody wins. And even if you don't do that, but you still accumulate Bitcoin, no matter
Starting point is 01:03:22 how much Bitcoin you have, that's how much Bitcoin you have. And there will only be 21 million. Like, if anyone is new to Bitcoin and they take one thing away, 21 million, that's it. You figure out what happens when everyone tries to pile in. And so... That hard cap man. Yeah. The rich people can't screw over poor people if everyone has Bitcoin. because when they try to do that and they just buy all the Bitcoin, it doesn't matter because it's a deflationary asset. So you fill up every bucket of water
Starting point is 01:03:53 no matter how small your bucket is. Like everybody wins with Bitcoin. Yeah. And what people don't get to is that a currency is just meant to represent the aggregate of all the goods and services available in an economy, right? And so it's not necessarily the unit
Starting point is 01:04:14 and how much you have, it's the percentage of the purchasing power in that economy that you have. And with Fiat, you have X amount of the percentage of the economy and that dwindles over time because somebody over here is printing more of it and funneling it where they see fit. And so your percentage of pull in that economy, it disappears over time and you're worse off if you're dealing in cash. Whereas in Bitcoin, if you get one Bitcoin, if you get half a Bitcoin, if you get a tenth of a Bitcoin or less, one percent of a Bitcoin, you will always have the same percentage of the total monetary base and nobody can take that away from you.
Starting point is 01:04:56 And that's the value proposition. Nobody is diluting your wealth. It's just yours as long as you decide to hold on to it. As long as it's in its forever home, it will remain. I do want to give a quick shill real quick. Well, to your point, Ben, everyone's vote actually fucking matters with Bitcoin. And to that point, shout out to BTC pins.
Starting point is 01:05:23 Don't play me. I love that. There's nothing ever truer. Like, everybody's, like, voice, the decision matters. And what is so crucial is that, like, the main problem with society is people don't have choice. Mainly, they don't have choice in money. But if you don't have choice in your money, if you don't have like true liberation in your property rights, which Bitcoin protects with cryptography, if you don't have choice in the money that you choose to store and express and
Starting point is 01:05:55 transmit your value in, then you don't have choice over your life at all. And Bitcoin fixes that. I love it. I think that's a good, uh, a good spot to start rounding out here. That was an excellent thought, but maybe what I'll do is I'll just go around. It's just all the tank top. Yeah, it's clearly. If you flash me a sweet tag top, I don't know how do I can't top that, right? I got around today. So let's do this.
Starting point is 01:06:22 Let's just go around with any final thoughts on anything we talked about today or anything you want to touch on really quick. And in the same breath, as you finish out your comments, let people know once again who you are and where they can find you. And yeah, we'll go from there. So I'll go to Camilla here again. Any final thoughts on today's conversation and let people know where they can find you? Yeah, of course.
Starting point is 01:06:48 Something I was thinking about, someone tweeted to me yesterday as a newcomer. They were like, wow, I really wish I had the wisdom you had when I came in. And I told them, honestly, though, I feel like I just have a lot more education than what a lot of people probably had when they first came in. So I'm nothing special. I just took the education like what you do here in BTC sessions. You have contributed to people not going down the wrong path and kind of having like a set foundation to go through. So I just want to thank you for everything you've done because it's like people like me
Starting point is 01:07:29 that are just coming in have a way to really get proper information and just go down the right path. So with that, you guys can find me at Camilla Camden on Twitter. Awesome. Well, thanks Camille. I love it. Phil, how about you? Any final thoughts? And also, where can people find you? So I second everything Cam said 100%. Your guys were a lifesaver to me with like moving my shit off wasabi to Cold Card. and I'm sure I'm going to be using and relying on your videos in the future. But yeah, people, like, of course, I don't know if there's any no-cointers watching right now,
Starting point is 01:08:14 but there might be best place to get started, I would say. And, you know, other than because I work there, like, I loved them before that. Swampbitcoin.com slash phil if you choose, but there's like a couple of other beautiful ladies that you can use their ref links for. But yeah, just set it, forget it. Like, think of it as a 401K. No, think of it as a CD account, but it fucking works. Think of it as, like, you are actually saving your savings.
Starting point is 01:08:45 They're going to appreciate. And you're going to be rich. And, like, what money, what's so important about money is that it is your hedge against the uncertainty that the future holds. And the best place to do that is at swambedcom. Slashville. and you can find me on Twitter it's Mr. Sue
Starting point is 01:09:07 that's M-R-P-S-E-U and I have a podcast I had been on I had a cam one I gotta get Justine on but it's called a boy named Sue and it's just a chill podcast, talks with great minds, people smarter than me so I can figure out what the hell's going on
Starting point is 01:09:24 in the world, Bitcoin and more and I'm also first and foremost a musician and I wrote a song called E-T-U-E-E-U-S-E-E-U-R-E-E-E-Rour. F stands for and the Fed, but I kind of wrote it after like just being like shell shocked of the crazy shit that happened on March in March of last year and I wanted to basically put like economic earworms into people's heads so like you know a catchy ish song could get stuck in their heads and they're like oh this is about some money
Starting point is 01:09:54 and Bitcoin and how like the financial system is a lie but you know with with smiles so if you want to check that out you can just search Mr. Sue, ETF on YouTube, or go to ETF 615 to hear it. And other than that, I'm very thankful to be working at Swan and amongst amazing co-workers and to come on very cool shows like this. Awesome. Stoke to have you, man. Good. Awesome. Justine, how about yourself? Any final thoughts and let people know where Are they? Sure. So one of the things I really like about Bitcoin is that from people to really
Starting point is 01:10:34 understand it to like really start to fall down the rabbit hole, they start to learn about what money is. And I think that opens their mind to so many different things and it starts to sort of improve their life in different aspects. For me, I was self-sovereign before I found Bitcoin. Bitcoin was the missing piece for me. It's what made it all work. And I find it really inspirational when other people start working towards self-sovereignty. Something's super important to me. So I just think that we have like this revolutionary tool in front of us that's that's turning people's savings into something that does work for them, like Phil said.
Starting point is 01:11:06 It also gives them the authority over it. Nobody can take it from you. Nobody can devalue it. You know, you have all the tools you need to be fully self-sovereign. You have obstacles and tools you can use too that help. So you're not completely self-sovereign or, you know, third parties that can. and help you get there, but you have everything you need to be fully self-sovereign, run a node, hold your keys, like, you're on it.
Starting point is 01:11:31 You don't need anyone. And I think that's just so powerful. And that's something that I find just extremely, extremely empowering and just inspirational. Other than that, like, as far as finding me, I don't know what the hell I'm doing. I should talk on Twitter. I have some news, but it'll be coming up in the next couple months. I made an announcement a few months ago that I was kind of looking for, changing up some things workwise, so that might be coming up.
Starting point is 01:11:55 But yes, I'm on Mastodon under Bitcoinhackers.org, Ms. Hottle, or I'm on Twitter, Ms. Hottle. I write occasionally on Medium, like one time. Hopefully that will increase. But yeah, I'm just on my journey and sharing it and enjoying every minute of it. Awesome. I love it. So, guys, I will say, once again, thank you all for being on.
Starting point is 01:12:18 Everybody that's watching live here, make sure you smash that like button. give it a share. We've had some great comments in the comment section. I've tried to pull up as many as I could while also still trying to multitask and listen to the conversation as I always do. But yeah, I had a blast here. Guys, I'm going to drop your audio video if you want to stick around to say a quick goodbye after the show rounds out, then you can. But yeah, I'll drop you guys out now and I'll say goodbye to everybody here. So once again, everybody, thank you for watching the show. you're all awesome. I love having you here every single time. It's a lot of fun and it's obviously great to have guests like these on. These guys are all incredible. Now, as always, please do hit like, subscribe, and share. Very important. This gets it in front of more eyeballs. It pleases the algorithmic gods over at YouTube. So please do that. If you want to help with the show in another way, you can hit up the sponsors I mentioned previously down below. That was Ledman. Cobo bit refill and the Bill Foddle over at Privacy Pros.
Starting point is 01:13:24 And if you really liked what you saw, you can always drop me a Bitcoin Lightning Network tip at my tipin.me page. That is tip-p-p-in. dot me slash at BTC sessions. With that, I'm out. Have yourselves a wonderful day or a wonderful evening wherever you may be. And I'll see you next time for your daily session.

There aren't comments yet for this episode. Click on any sentence in the transcript to leave a comment.