BTC Sessions - WHY ARE WE BULLISH? Complacent Bears About To Get REKT! ep153

Episode Date: February 28, 2021

Why are we feeling bullish this week? Featuring American Hodl, Denver Bitcoin and Mr Pseu 💪 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's going on, everybody? Happy Friday. We're back for another episode of Why Are We Bullish? We got a killer fucking panel today. I'm stoked about this one. It's going to be good. We've already got people piling in here.

We got like, like, button. Give this a share. Let's get it out there. As always, this shit is live. Anything can happen. So quick disclaimer from my friend, Bill. We'll do it live. Okay.

We'll do it live Do it live I'll write it and we'll do it live And we'll do it live So this is Why Are We Bullish The show where we talk about Why We're bullish

We go by the three R's We're gonna give a reason We're gonna riff on that reason And then we're gonna rotate to the next one So should be a good time As always smash light Give this a share As always I am Ben with BTC sessions

This is your daily session here we go. All right, before we bring in our panel, first let's take a look at the market, see where we're at. We're sitting on the Bitbo.io dashboard, which check it out if you haven't been there before. $45,500 some odd dollars per coin. If you want to pick up some stats, you can get 2,195 sats for a single US dollar. That is a steal, my friends. Stack those while you can.

88.76% of all Bitcoin that have. that will ever be mine happen. And fees. Next block, you're looking at 149 sats per bite. If you're willing to wait an hour, 37, that's come down. So if you got some shit to do,

maybe jump on it. Quick shout out to sponsor the show, leaden.com. These guys have a bunch of different shit that you can use your Bitcoin for. In particular, they have helped me when I needed to get my dollars and I didn't want to sell my Bitcoin

because that's taxable. And I was worried about having a buyback and at a higher price. I was able to use them. They also, of course, have their savings counts. Their B2X offering for super bullish DGEN behavior, have at her. But anyways, links down below if you want to check them out. Of course, I use a lot of different hardware.

Kobo is one of the ones I use a lot. It's air-gapped, which is fucking awesome. It keeps the keys to your money safe and offline. It's all QR code. I use this with the cold card a lot for multi-sig situation. So check them out. Links down below. I do live on Bitcoin.

I'm as all in as you can get. Bit refill is where I can. can shop and get my food and stuff that I actually need. And they earn stats back as you do it. So check them out. And finally, don't back up your shit on paper, guys.

I literally had three phone calls in the past week or chats online where people have thrown out their seed because it was on paper. So think about steel. Privacy pros got you covered with the bill fottle. And with that, let's start bringing in our guests here. We got the one and only American hoddle. We got Denver Bitcoin.

We got Phil Gibson, aka Mr. Sue. And we're all fucking bullish today. Welcome, gents. How are you doing? Every day. Got to be bullish every fucking day, bro.

Every day. I'm stoked about it. If you're not bullish, you're bearish, and all bears must die. Yeah. Just is how it is. 100%. It is.

We've already got... Yeah, exactly. We've already got people in the chat chatting us up so guys smash that like button give this a share we're gonna uh we're gonna get into this we're gonna start going right now um i'm gonna drop my reason for being bullish this week it was a tweet that i saw today and it's actually kind of a reason for the thumbnail um the thumbnail i put they think it's over mostly because of this guy adam singer what a fucking dunce this guy is anyways he says attention let me i got i got to bring up his his tweet

Wait, hold on. I'll put it on the screen here. Just a second. There he is. Attention crypto traders. Bitcoin went from $1 to $58,000. If you're not wealthy by now, you didn't do it. You missed. You completely struck out on the greatest run of the last hundred years. If you own like 0.47 BTC, stop acting like you know what you're doing and you're a strong holder now. like okay first of all I retweeted it and they said if you own 0.47 BTC you have a larger piece of real estate on the world's monetary network than most

will ever hope to accumulate you are a Satoshi multi-millionaire 47 million sats this should not be diminished but like beyond his diminishing of what I would say is a pretty fat stack especially for a noob

he thinks it's over he thinks that's it that like 58K was that's the run it's done and I think I speak for the panel when I say I don't think we've even fucking started this year like this is this is like May of 2017 if that like we're just getting running so and you see a lot of this sentiment you see a lot of people being like yeah that was that was it I guess I guess it's not gonna keep going up I think it's over so I don't know. I think this guy's bullshit. He's had some terrible calls. He said that Bitcoin will no longer go up again back in 2014 if there's any good indication of what a contrary an indicator he is. But I don't know, Hoddle, what do you think? What's your sentiment on this dumbass tweet? Bro, I love these people who are like, you know, Bitcoin could go, listen, listen, it could go to a million dollars, okay? It could go to a million. That doesn't mean it's worth anything. It's like, actually, it would mean. It's worth a million dollars per coin. What the fuck are you talking about? Like, do you want to not write it from 50K to a million?

That's what the rest of us are doing. So you just have one fucking staying poor, all right? Like, that's all I have to say to you. Although I do like, like, okay, you can read this tweet one of two ways. Like, you can read it as like crypto traders. And yeah, like, if you're trading shit coins and you only end up with 0.47 BTC, then fuck you. You fucking suck at trading shit coins.

And you probably shouldn't have just, like, kept it humble and got a job. fucking, you know, side hustle, drive an Uber, and then stack that money. Like, that's what you should have been doing instead of getting fancy and trading Cardano back and forth to end up with a tax liability and lose point, you know, 37 VTC or whatever the fuck you did. So you can read that's why I originally read it, but I also, I agree with your take as well, Ben. Yeah, I agree.

Yeah. The trading is, is where you're going to get wrecked. A lot of people last time around, they didn't. really think this through and they were just like in and out of whatever shit coin especially at the top because that's when everybody got really fomoed into whatever and they didn't realize that okay they rode this entire wave all the way to the top and all of those trades at the top where they ended up still holding bags of shit coins when it subsequently dropped over the next few months well the the taxable events occurred at the peak those were gains and then they had this tax bill and then they had bags of illiquid garbage that went to effectively zero or like down 90% they screwed themselves bro bro this cycle the defy people like to act like taxes don't exist and they're like token token that's not taxable rap bina porn that's not taxable yeah they are people are getting 1099s for wrapping their bitcoin so if you've been doing that have fun staying

for because you have a bunch of taxable events that you weren't planning on because you're essentially you're functionally retarded. Phil. It's one of the times where it's okay to not wrap it up. Don't screw with wrapped BTC. I like it. Phil, have you seen any good I mean, you've

obviously seen this one, I'm sure. But have you heard like from the no corners assuming it's over? Like have you seen a bunch of that? No. I see a lot of NFT bullshit on Clubhouse though, which is equally annoying, if not worse, which I'm like a musician artist myself. So that's great, but it's not a token.

That's the problem. Like, you need a decentralized platform or just give people the freedom to exchange value because they like your shit. But like, that aside, numb nuts with this tweet. I really can't tell if these are people that are being sincere and are ignorant about this or if they just make fiat gains and whatever the hell they do and they're just trying to make something go viral so they can suppress the price or something. So I wasn't around for the last ball run, but when I smell bullshit, I call bullshit. And yeah, it's, I said when I was on the show last time, like, I'm bullish on people's stupidity, meaning like the price discovery of Bitcoin. And you can't fix stupid. So you're just going to have this. Like, this is market discovery. So this is natural. So

I'm just very bullish on it because if none of this crap was happening, then Bitcoin wouldn't be happening. Yeah, I agree here. Dreamin says Bitcoin, don't pull out, wrap it up. Don't wrap it up, rather. Good man. Denver, thoughts. What are you thinking about this? I mean, first of all, I mean, I don't think I can even handle this, this bullish recording and live event with Hottle on here. You're killing me. This is hilarious. No, but I do, I do want to point out one fact. Like, everybody that is a critic and especially those who, you know, they come out of their, like, like maybe closeted critic shell, and they tweet out something like, as though Bitcoin has failed, right, as though it's over because it's down 8% or something, the prices.

They have this like kind of natural and inherent smugness, right? Like as if they're talking down, right? As if they're, they're, we're inferior as Bitcoiners. We're inferior thinkers. We're inferior monetary consumers. We're just inferior human beings is the tone that that's underlying that tweet. right and I think I think that kind of speaks toward a lot of the basis of these critics a lot of these critics just think that they're smarter they just think that they know better and we're fools you know interacting with something that's going to make us lose money and they're wrong right at the end of the day they're just wrong they don't they don't understand what they're talking about but the smugness is was all time high on that tweet for sure I mean the whole like if you don't have 25 grand in this asset you know if you have 25 grand in this asset like don't act don't act cool or like you're a good holder.

It's like, dude, 25 great. It's a lot of money to like most people. What are you talking about? I mean, this is, yeah, that's part of their righteousness, right? Their smugness. So if you take Bitcoin Twitter at face value, and you're just like, it's just a bunch of cartoon characters making dick jokes. Like, that's an intelligence test.

And you're going to have to have fun staying poor because you have no sense of human. The rest of us are being serious and joking at the same time. Because we're fucking getting rich and having fun, all right? We're not having any fun. Like we're human beings, you know? Like, yeah. The best was, I think this guy afterwards, he assumed it was a bunch of bots replying to him. What did he say?

He's like, oh, yeah. That's the best when they think we're all bots. It's like, no, dude, we're real people. And we just like that. It's a conviction, bitch. Yeah. Yeah. He said, Prince,

Francis Coppola. Yeah. Sorry. Yeah. No, he said, Aonon bot and sock puppet accounts with. Bit something, Satoshi, whatever, and Crypto Donkey as Handel are still in my mention with PumpCompesta, uh, copy pasta hours since this tweet.

Yes, but we'll be there. Even if you delete the tweet, we will be there until the end of time. I go back to the 2013 tweets. We destroy them. Have you ever seen anybody win against Pick on Twitter? It's impossible. You get destroyed every time, every single time. What they end up doing is they end up competition.

or they mask block or they just totally stick their heads and act like it's not happening. I mean, I mean, Frannie Coppola gave me an economics quiz on Twitter. She's like, let's give you it. And she's like, like, one of her questions was like, what's the reserve requirement ratio and why is it important? Jesus Christ. I told her, I was like, I studied economics.

I know what you're talking about. She's like, yeah, right. I have a degree. Like, what the hell? I mean, I know. I don't ask her where is our reserve requirement. Oh, yeah, and that's what I said. By the way, it's zero percent.

I mean, like, to prove your point, even more ridiculous, the reserve ratio right now is zero percent. So they can loan out as much fucking money as they want and have no deposits. They don't care. That's what she wants, though, because MMT, like, you're leading her own. So many Bitcoiners are former Ivy leaguers or they work on Wall Street or they work in these centers of high finance or they have economics degrees. like we're a lot of degrees so many bitcoins right but we're also we're also all cartoon characters

on twitter because that's just how they and we smell bullshit honestly the the cartoon characters on twitter are the most real people you ever meet yeah like they'll just say whatever the fuck they think like they like you can you can look at at the tweets from some you know ain on whatever quote unquote I don't want to say crypto donkey but Bitcoin donkey like to quote this guy's tweet but like some rando on Twitter you can some stupid ass name like Denver Bitcoin or

American something stupid like that right something stupid like that and you see you can actually sift through and you can see where they're just purposely being dick holes to people because it's fun and then you actually get these like glimmers of holy shit that was actually quite insightful and that's some good information but they don't want to see that they see like the the your your fucking idiot have have fun staying poor and then they just they take that and they're deeply in a way we're kind of inevitably leading to them buying in at a way higher price than they would have

had they not interacted with us so we're kind of like worsening it filtering Newsflash, we are people that love reading. Keep going, Phil. Oh, like newsflash to these people, we love reading books by people 50 years older than us that are this thick. So don't be surprised if we know more shit than you do. It's in our free time.

It's just such a filtering mechanism because it's like, hey, guess what? The only people I, the reason I'm not wearing a fucking suit in time my profile picture and, you know, saying a bunch of fucking academic gibberish. And I can act that way if I wanted to. I don't want to. The reason I don't want to, because I only want people who have a miracle sense of humor like I do to get rich.

Those are the only people I want to have wealth in the future, all right? I don't want to. Those are the people I want to track. Yeah. I mean, even just on Twitter, like, I wouldn't be on Twitter without Bitcoin, right? So, like, I wanted to attract like mind of people. So the way you do that is you speak your mind. And then the people that resonate with that, they find you.

Right. And so that's how we all found each other. It's not like we took some, you know, we had some cult initiation or something, even though we all were, you know, baptized in the volatility that is Bitcoin and the emotions that come along with with that process, right? So we have this common ground. And then we typically have common values where we think the individual should be empowered. And so we don't care what you say.

And if you're really, you know, if you can be crude, like honestly, crudeness still, you know, Bitcoin is it's like, why are you being so crude? But that's not what's important. What's important to us is the values, is the idea that, hey, we think, like, people should make their own decisions. And, like, this is a money that allows them to do it. So we're going to promote this money. And if you think that this money's bad, we're going to tell you why you're wrong. Yeah, we're not distracted by bells and whistles.

We come at it from first principles. And no one else, like, gives it that time. Even more than that, like, outrage culture, identity politics, like all that stuff. That's fiat stuff. That doesn't exist in Bitcoin. Bitcoin is you get authoritarian. Exactly. The network processes everybody's transactions the same way.

And it's a system where the earlier you got there, the more you put into the system, the more you're rewarded, right? Like it doesn't matter how much of a victim you claim to be. No one gives a fuck. The system doesn't give a fuck. You're only going to be rewarded. If you got there early, you seeded it with time, energy, effort, and capital. And the people who got there late and started complaining about how unfair it is,

because I fucking have fun saying for. Because, like, well, in the game, prove your reward. The beautiful thing is that early right now is just people that right now join and then put in the time, right? Like, their early is now, if this is the first they're hearing about it. Their early was years ago if they dismissed it and continue to be salty no-coiners. So it's like, it's all relative like anybody as with this guy's tweet, right, like shitting on on those who have half a Bitcoin or something. like that or less. You know, that moving forward, your proof of work, your, your time, your, the fruits of your labor ceded into the scarcest asset that humanity has ever seen

and held there through the proliferation of this network to the entire globe is an incredibly powerful thing. And so you're early, maybe today. It may be watching this and be like, you know what? I think I'm going to stack some stats of the first time. That may be your early. And you might only be able to stack like 20,000 sats. Dude, keep going. Keep going. Do yourself a favor and just do what you can because your early might be this very day. And don't let keep stacking. Just keep stacking. Yeah. Don't let salty no corners like Adam. Right. Yeah, it's just it's just the, it's, it's time, it's money through time, right? And so money travels well through time when it's,

when it's held in something that's really scarce and like something that doesn't get bastardized. The supply of it doesn't get bastardized. And so that's really what this is. And we just, we've never interacted with absolute scarcity before. We truly haven't. Like we don't, we've never even understood the concept. But because of the digital world, because of cryptography, there's this absolute scarcity. That's why it's always early because tomorrow is always, um, I guess can be anticipated and it ends up being exactly what it was anticipated to be, you know, a block every 10 minutes. And so these things, I think we're just, like pricing them in is really abstract and volatile because they're new. So yeah. Denver, that reminded me of a chat.

I had with Ben Prentice over the phone and we were just like, what does sound money? Like we've never actually had any sound money before, like branching off of the digital scarcity. like yes, that's natural phenomenon. But if we thought gold would sound money, I mean, the reason why gold failed was because it's obviously not sound. It was, it failed because it was centralized. And it just kind of made me really overthink, like,

holy shit, we've never had a money that works. Because if it works, then we wouldn't need to replace it with something else. Well, like, it even makes me good to get to the point where, like, even the Austrian economic model, like, should is there some is there something that could have been overlooked or could be wrong even within the Austrian economic model because they never even anticipated that there would be something like a Bitcoin right a lot of those thinkers never thought there would be something like absolute scarcity and so like we do need to rethink a lot of things

shout out to Daniel in the chat I'm 18 and already stacking since 2018 when I was 16 I tried to explain it to my friends now they are having fun staying poor What a fucking legend. Yeah, see, Daniel's going to get it. And so he was right there in the bear market. So he knows the pain. Yeah. Yeah, those that joined during the bear market, they, it's almost like the best time to kind

of come in because there's not a lot going on. There's a lot going on, a lot being built. But like, you're not at that point in the bear market, you're typically not joining just because number go up, right? Like you. Pure contrarians. Yeah, exactly. Like you've seen something.

you found an interest in it and you've started to actually learn because you're not inundated with like the bullshit marketing of the shit coin factories. So it is like a very unique time to join in like just post, you know, 2018 post the 2017 run. You know, that's a unique time to come in. Like my good friend, Dave, he so he followed in in January of 2018. as it as it was like bouncing back up and it looked like it maybe it would continue running and he came into i was working at an o tc desk and he came in with like a fat stack of cash and just like just like bought all all of the bitcoin and uh and then it proceeded to just dump and dump and dump like it went from whatever 16 17 when he was buying down to three you know that calendar year uh but luckily like

he started reading, he started listening to like people that actually had good things to say. And he weathered the whole storm. And dude has changed his entire life this year. Like he's better off than he's ever been. He's, you know, he he's really actually gotten to a point where, you know, he thought he'd never get to. And it's, it's really cool to see. So I'm super happy for him. But yeah, like, anyways, to.

To sum it up here, salty no corner is going to be salty no corners and that's not going to change. So let's move on to our next reason for being bullish. Before we do that, we got like 130, 140 people watching live. Smash like, give this a share. Keep chatting up because I will be bringing them up like this one. Turtle Boy, American Hoddle memes help me get through the bear market. I think my favorite meme of Hoddles was the porn meme. where it's literally just a video of a dick

going into an ass, but it says 6.15 on the dick. And I had my phone open somewhere public. I was like, oh, just swipe through Twitter. And it was just like that. And like my friend looked over my shoulder and was like, what the fuck you look at it? I was at like a breakfast joint or something.

So thanks for that, man. Morning sausage. So good. So good. So good. So I'll pass it since we're talking about Hoddle. I'm going to pass it to you. What has you feeling bullish this week? You know what has me feeling bullish is the coordinated push of energy fud. It feels like there is a entity that maybe none of us are aware of or a think tank that maybe none of us are aware of that has been pushing out this energy fud. Because I mean, you saw comments from Janet Yellen who's kind of the inefficiency of. of Bitcoin. I've seen clubhouse rooms by various intellectuals debating the quote unquote greenness of Bitcoin saying that, you know, X, Y, Z shit coin is quote unquote greener than Bitcoin is. Just this fundamental misunderstanding of proof of work, you know, how Bitcoin operates, how Bitcoin mining, what Bitcoin mining really is, like how it's run on renewal, et cetera. So I'm sure we could get into that and never has a lot to say about it. But like just the fact that everyone is fighting it at

once. Also, tethered dying just completely, like that fud is just gone. So they have to swap to energy fud, and energy fud is all they got at the moment. It's like the one thing that they can stand on, right? And it, you know, the problem with energy fud, we've talked about this in clubhouse a lot, is that it is very hard to combat because we don't have that simple rhetorical, just like, asymmetric, you know, just volley that we can throw back at them and just be like, you know, Well, yeah, but you do X-Y or is it, right? Like, we don't have that. So we have to, like, take a nuanced deep dive

into the entire energy mining space and how it works, and that can be very complicated and only smart people understand it, and et cetera, et cetera, et cetera. But the energy fud that was coordinated this past, like, week and a half, and just all the fud in general that was corkshing of fud, right? Like, so much fud from the 2013 cycle to 2017 cycle. And I was like, these motherfuckers haven't come up with any new fud.

It's like, yo, what were you doing during the barmen? The same shit. We were coming up with ways to combat your fud, and you were just recycling the same fud. It's also amazing when you hear the fud being spread by these, you know, critics. There are no good critics in Bitcoin because they just fundamentally don't understand Bitcoin. And one of the epiphanies I had while I was watching this coordinated fud attack was that these motherfuckers aren't even actually fudding. They're coping. They're coping with the fact that they missed out because it hurts.

Imagine. Just take a second and imagine yourself. in the seat in the shoes of a no coiner and you were watching the thing go to 50 fucking thousand dollars and you know that it probably could go to a million and you're thinking why didn't i buy i knew about it when it was 200 i knew about it when it was 3 000 what was i doing you know what it's not me that's the problem it's bitcoin bitcoin is killing the planet like that's that's where it all comes from it's fucking amazing it's just basic human psychology it's so bad.

Like it's it is astonishing to have sat through a whole cycle and then be like, wait, this again? Like this has already been everywhere, then gone away and then come back. It's like it's like people just discovering Bitcoin for the first time or just like addressing it for the first time in their own brain and then doing a quick Google and finding some article from like six years ago and being like, ha, I knew it was shit. No wonder I'm so glad I don't own it. But imagine like, I can't even imagine having not entered this space because I am in such a better place, not just financially, but like mentally I'm in such a better place.

Like I'm much more, I'm much more of a critical thinker. I tend to question everything that comes in front of me now. I actually want to have that nuanced kind of intricate understanding of what I'm doing and what I'm using. And it's just you you come to a point where you realize how bad a lot of information out there is. And you see a story. You don't really appreciate that until you truly understand a topic. And then you see that topic covered on the news. and you're like, whoa, if they're that bad about this, how are they covering other topics?

Like, it must be terrible. And so it just kind of reshapes your worldview. But, you know, you know, I just learned about Bitcoin. I'm here to fix it. meme. Like, this is like the I just learned about Bitcoin. I'm here to tell you why it won't work. Yeah.

Right. Like that's what this energy fund is. And it's, and like Hottle said, I mean, I think it's come to a perfect storm where, I mean, the Tesla is a big part of it, I think, because, you know, them adding Bitcoin to their balance sheet and they're just really green kind of company. It's forced this conversation. And so I totally agree. I think it's been a crazy catalyst to even Bitcoin awareness is this energy fun narrative.

Yeah. Yeah. The cool thing about Bitcoin is that it really forces you to think critically. And I can't remember who put it out like Stanford or the New York Times, but like these so-called like experts, scholars wrote basically that critical things. thinking is dampering society or we're not going to get through COVID if we start thinking critically. Like it's dangerous or something. And man, I wish I knew where that came out of.

But Bitcoin is completely reversing that. Yeah. Yeah. New York Times. And it said the article was, don't go down the rabbit hole. It was a bad. Yeah. Don't think for yourself.

Don't. Don't. It's a gateway. It's a gateway drug to liberty. Are you thinking over there? You better not be. You better not. I swear to God.

Literally they want you to have fun. You better not think. Stop it. Thankings for dummies, guys. Just stop it. Stop it. Also, speaking of that, somebody in the chat,

I think everybody's given this guy or a girl, whatever shit. Keep dreaming, dude. We done. Bitcoin will dump to 9Ks. Dump to 9K. I'd be ecstatic. I mean, even 9K is incredible.

I mean, that's, I mean, what is that? What's that market cap? That's an impot. Like 160 billion still? I mean, it's like 160 billion. It's literally impossible. It's literally impossible for Bitcoin to go to 9K.

Honestly, I think it was it was it was club host the other day, Haudel. You were and I'm pretty in line with this. We were looking at right around when we're in the mid 50s. You were like, guys, this is probably like a worst case scenario price for the bear market next time around. And I totally agree. Like I don't think. Yeah. If we got down to 50 or 60K

like in a year, a year and a half, two years or something, it's going to be like the sky is falling. And people will be like, oh my God, it's fucking dead. It's over.

But we'll have visited multiple hundreds of thousands of dollars by then. And it'll be hilarious to watch. But we'll scrub back to this video when, when that happens. But yeah. The other thing about, I don't believe that either. I think it'll probably be more like,

150, but I'm saying like worst, worst case scenario. Yeah. This is the bare market bottom. You know? Yeah. Yeah. Sam versus says it's not going below 30. I think he said 40 as well.

So what I just don't, I don't, I don't see it going down. Yeah. I mean, 30. I think, I mean, I think flash crash, we touch it or something. Maybe. I don't know. I mean, it's things leverage. Leverage causes slippage.

And so there's a lot of leverage. That's called a city. Kids. If it goes to 42, I'm taking the levered long. Like that would be. an insane price man. I love it. I love it. Yeah. The other thing I was going to

say about the energy, there's a really terrible article from some dude from the UK. There's like a video expose on like how awful Bitcoin is for energy. They're all terrible. Yeah. But he went, one of the things was he started talking

about opportunity cost. And he was like, well, people will say that it's all like, stranded energy and everything. But then he's like, he's like, but the, the opportunity cost of not using that for other things is just

far too. It could be used for better things. And I'm like, do you understand like what stranded energy is? Like, do you understand? Yeah, like you're contradicting yourself with your own words, sir. Yeah. Like it's, he was like, well, you know,

we should connect those things to the grid. It's not that the fucking energy has to travel far enough that it's no longer, viable by the time it gets to its destination. That's why it's stranded, no? Like, am I misreading this? Yeah, exactly right. Like the problem, if the energy is stranded, what that means by definition is it's not economic to, to, you know, bring it to any market. And so, like, yeah, by definition, there is no opportunity cost. The opportunity cost is just weighting the energy. Like, he's fundamentally wrong. This is Harry Settix framework. I stole this from Harry.

basically said that, you know, these people who are like, you know, like the green, the planet, like hipster types, like they are consumption minimalist and what they need to be is quality of life maximalist because, like, humans have a relationship to energy, right? Like energy usage is, you know, that's the thing that creates prosperity in, and human flourishing. So, like, yeah, Harry does a great job. It's the dumbest thing I've ever heard of. Like, we're not riding bicycle. What about ambulance?

Yeah, the fucking irony is like, the fucking irony is that these green solutions, like, end up making, like, more energy than can be used. So it's like they create their problem in the first place to bitch about. It's like, well, you can quit your bitching because we'll fucking plug it into Bitcoin and then you won't be poor anymore. Like literally your windmill, it absolutely sucked economically until Bitcoin came along. Now it actually might be, it might actually be a little bit worthwhile. But Denver. It still isn't that great. But you should love Bitcoin if you like windmills.

If you like green energy, like Bitcoin is the reason you should even exist. Denver, we talked about this when you were on my podcast Monday. But real quick, just tell us how inefficient it is to actually fucking create those windmills. Well, it's terrible. How damage you need to the environment. Well, I mean, beyond the fact that like, you know, windmill is made out of, and solar panels, like so many fossil fuels are used in that supply chain process, right? I mean, whether like the actual blades are a petroleum product of windmills.

So that's one aspect. But the other aspect is they're so inefficient at delivering energy to market. That's like their biggest flaw. That's why they're economically a bad investment. It's because when the wind's blowing, sometimes the people you're selling electricity to aren't demanding electricity. So you have a shitload on top that you waste. And then, you know, you have these volatile cycles. And Bitcoin allows you to sell every watt that you generate, allows you to bring that to market efficiently.

And so now a windmill actually makes a little bit more sense because you can sell every watt. And, you know, I mean, they should be championing Bitcoin if they're actually green energy proponents. If they truly want to usher in this kind of energy, they should, they should be preaching that Bitcoin is the solution. But they'd rather complain and be consumption minimalist, right? Like Hoddle said, like Harry explains, they're confused. Remember when Trump invented the windmills? And he was like, oh, honey, let's go check. I want to watch TV.

Is the wind blowing, you know? And what we're seeing in Texas, man. It's like he was kind of right, you know? It's like too many fucking windmills down there. Yeah, like shit. Like there was a little bit of truth in there actually. Yeah. Oh, man.

Okay. So let's keep going on this. I love the tangents. No, it's perfect. We're going to move on to our next reason for being bullish before we do. We've got like 170 people watching live. Smash that like button. Give this a share.

And keep chatting us up because I'll keep up bringing comment. keep on bringing comments. I think that filthy no-coiner that that was projecting 9K is gone now. So, you know, good. But anyways, let's grab Phil here. Dude, what has you feeling bullish this week? Fedwire. That's fun.

It works until it doesn't, just like Fiat. Phil, fill the listeners in. Let people know what, what happened there. If you have just a sound bite or whatever. let people know what happened. It basically went down. So FedWire's in, it's very analogous to Bitcoin in a way.

I heard Nick Carter on Clubhouse talk about this. He was debunking FUD. And FedWire is basically like the Fiat version of like a layer one protocol where you have like final sediment and lightning in the way is like visa. So any visa payment you make, it's not going to settle for like fucking 90 days or whatever. But apparently FedWire went down. And it's just very interesting.

A lot of interesting things happened this week. So Fedwire went down and we bombed Syria, apparently. We attacked some Iranian militia in Syria. So, and we also stopped counting the M2 supply. So all very interesting things to just come up with a reason to print more money. A war sounds pretty, pretty great, not saying that we're going to go to war, but hey, who fucking knows Biden's president now? He had a history with some of that fun stuff back in the day.

So it's very interesting. And Lynn Alden's spoken about, we haven't seen things like this. And really the way to get out or get over that hedge is to go into war or, you know, come up with another excuse to print money. And it's just, it's just showing how important Bitcoin is and why sound money just prevents all this chaos. So I just, I'm wondering how many other people who aren't Bitcoiners are kind of like

piecing everything together. I like the, uh, so many Bitcoin popsicle in the chat brought up, uh, if Fedwire went down like the day after Janet Yellen was saying how inefficient Bitcoin was. It was so poetic the timing of that. It was like the next day. It was the same, it was the same shit as when they wanted to, um, put extra owner as YC restrictions on the coin and then Treasurer was hacked like four days later. Remember that one?

Yeah, exactly right. Now, somebody in chat. You can't even secure our day. Like, come on. Like, what's going on? So they've changed for M2. They moved. So the indicator used to be weekly.

Apparently they're doing some replacement where it's going to be monthly now. So it's- The M2 is crap anyway. I mean, they don't know exactly what the M2. The M2 incorporates cash. All right. So these are estimates to begin with. So it's ultimately it's all bullshit. Yeah.

Yeah. I still think it's interesting though because the last time they stopped. I don't know if they fully stopped or they, if they are just going to stick with like reporting monthly. But I heard that it had quote unquote stopped. And the last time it stopped was right before the GFC. So I'm wondering now, since they're changing, if they're going off the old version, which was weekly and now moving to monthly, at that point, do they restart the chart because that'll make it look a lot less parabolic

if they do yeah maybe maybe because well I mean yeah I mean the chart the chart is so disgusting anyway I mean even I mean the M1 the Ms it's it's vertical it's a straight line

put those charts put those charts next to gold and how it traded against the paper mark in Weimar and the Weimar Republic exactly mm-hmm yeah I'm just see if I can I'm going to put the point price over that.

Not trivial. Oh, here it is. Okay. Okay. Okay. Let me, let me see if I can pull this up here. This should be fun.

I love it. We're doing it live. Yeah. We're doing it live. Fuck it. We're doing it live. By the way, can I just say how proud I am

to live in a country where a woman of color can bomb Syria? I mean, I just Yes, she can. Yes, she can, you guys. Do collateral damage. You know.

Holy shit. Hoddle, I love you so much. I'm proud of that. You're such good shit. She's got balls. Indeed. Okay. Here's a, y'all.

She did it. Here's that M2's money supply. So it went, this is the, over on the left, the axis here, uh, these are, billions, but they're counting the billions by the thousands. So trillions then. So it went from two trillion in, you know, in and around shortly after we close the gold window. And we're up and around the $20 trillion mark now.

And now this is discontinued. Series will no longer be updated, blah, blah. Yeah. So that's fun. Exciting. exciting times, guys. Also, Trituary yields are positive,

apparently now. You've got to love how they just get to the point where they're like, you know what, that M2 graph looks pretty shitty. Let's just stop. Let's just stop reporting on it.

That does not make us look good. Yeah, we'll just stop caring about it. I'm pretty sure they changed it too where we used to get their menace every like four years or something and now they don't have to give them up. Yeah,

they don't they don't have to disclose what was discussed anymore yeah god so they can oh yeah that's good what was they got after what was talking about inside sad day for parker lewis they can't go through it all anymore yeah it's oh man it's it's something else uh yeah i i i agree that it was very poetic about uh the the fed wire going down in the midst of comments of how inefficient Bitcoin is. It was just I mean this whole past year and a bit has been

like people asking why bother with Bitcoin and we've been able to say this exact thing that just happened right now is why Bitcoin and it's just been consistent nonstop for the last year, year and a half. There's been a perfect example every single time.

It's unbelievable. It's like all the shit that Bitcoin has been saying for over a decade, they're now able to immediately point to something. How can you not see this as destiny? How can you not see it as inevitable? It's right in front of your face. Like, are we delusional or is it really just happening?

Because to me, it seems like it's just happening in front of your eyes, right? Like if I was, you could say it would be much easier for you to make the case that I was delusional if the price was $500. But it's $50,000. Right? It's just, it's, this is what's going on. This is what's occurring. And these are inarguable facts.

Deal with it. Yeah. Meet reality on reality terms. Bitcoin is the truth. I didn't, I don't believe the Bitcoin, okay? Let me, let me like say that. People keep being like, you're a Bitcoin believer. No, I'm not.

Bitcoin just is true. I believe in things that are true. You know what I mean? I didn't like read it. We just talk about Bitcoin and then be like, hallelujah, I believe it. No. It's just, it's what's happening.

I think the world is starting to weigh up to that. Like Wall Street has now figured out sort of the should be denominating in Bitcoin. Like there are people saying like Peter Thiel made comments recently that you should just buy Bitcoin because you won't outperform it. Anthony Garamucci has been making the same thing. If you look at hedge funds, nominating Bitcoin and outperforming Bitcoin, people are starting to realize like they should be thinking in Bitcoin terms, right? Like very powerful, influential people are starting to think that. So it's like, how are you going to sit here and say that I'm just some sort of religious elite or that we're all religious elic? that doesn't hold any water.

Like look around at what's occurring. Like you just said, the whole year is a masterclass in Bitcoin maximism. It's like, which is garden variety common sense. That's true. I mean, it just,

it shines a flashlight on everything, right? It's because it's the first time we've had an accurate measuring stick for what's valuable. And it turns out that a lot of shit is not as valuable as people thought because the measuring stick was, was not measuring accurately. And now you can see it's,

flowing to where it needs to be if people just want to save. A lot of people, they don't want to buy a house to store their money. They don't want the actual real estate. They don't want to buy the stocks. They don't believe in the particular company that they're buying. They're doing it out of necessity because their money is so shitty. And so how much of that flows into an actual, the scarcest asset that humanity has ever seen that is perfect at transporting money through time and space, how much value siphons off

from these inferior products that people have been using as like a placeholder to hold the fruits of their labor. Michael had a killer insight just recently, which is that like a South Sandin had gold as its store value early on. Then it had debt as its store value, you know, they had the bond market. Then it had equities as its store. And I think we're moving into a space where it has Bitcoin as its store value. Like I think the dollar and Bitcoin work in tandem here.

I don't know how long that period is. But I think that's what we're starting to see. And you're starting to see very influential people on Wall Street make the same case. Kathy Wood, like Darling of Wall Street, who's leading our invest, was out there on Bloomberg saying Bitcoin is replacing bonds. Like that is a fucking massive statement. If you're not paying attention at this point in time, it's on you. The future is clear. Yeah, it's pure signal.

The path has been laid clear. Like, this is happening. You know? It's going to be way harder for somebody to sit through this cycle and have a good reason for missing it. Like, you know, before you could kind of dismiss it as like, you know, I didn't look deep enough into it. I didn't really, yeah, I kind of saw it a few times. I saw it a bit near the top and I saw some FOMO stuff. It seemed kind of weird.

So I ignored it. Like, I can get it if somebody doesn't, like, especially the last cycle, you got Brian Kelly shilling, like a well-diversified crypto portfolio. You see crypto-kitties in the news. You see all this bullshit. And so I can't fault somebody for just, like, painting with broad strokes and being like, I guess it's all trash. But now when you have people like Kathy Wood and Michael Saylor and Scaramucci and, like, you know, Tesla buying it and Guggenheim. and all of these people being like, listen, this is a direct response to monetary policy. We don't see it as safe holding all of our assets and dollars anymore.

And we are trying to find an escape valve. And this is the one that we think is the most viable. You can't ignore that anymore if you're paying attention even in the slightest. So how do you get through this next cycle and still be a no-corner? I don't know, man. I don't know. I'm with you. If you have index funds that hold the S&P 500, guess what?

You're not in no corner. Right. That's a whole square coin. And I think maybe there is a point. I think Tesla's probably a pretty good, like, if you want to draw a line on it, Tesla buying is kind of a point where it's like, yeah, you're never too late to Bitcoin, but if you're after Tesla, you're coming in when it's much more, much more, you know,

commonplace and agreeable just even in the world as something to put your money into. And so it's the barrier, the social barriers to entry on Bitcoin have gotten way lower than they were even just two years ago. What kind of people are going to be the holdouts?

I mean, like besides the obvious ones, they'll be the shifts and like this Adam Singer dude. Like what, what kind of people are going to be the ones that like forcefully and purposely avoid Bitcoin until the banksters. Yeah.

It's the banksters, man. I mean, it's the guys that are staying the most to lose. You know, the guys that are just rolling in luxury because they're close to the money printing spigot and the guys in control the money printing spigot. They're going to be the last to capitulate. Once they're in, it's over. Once they're in, then there is no social barrier to entry anymore because this has been approved by the people that make the social barriers.

within money, right? So, yeah, at that point, it's over. Preston Piss was saying this. Imagine if, you know, we heard these comments out of Yellen, right? Like she's saying, it's inefficient. She's basically fudding Bitcoin.

Just a thought experiment where imagine if she said the opposite. Imagine if Yellen said Bitcoin is a terminal to store of value. What happens then? It's over. That's game over. So, you know, she's not going to say that

until the very end, right? They will fud up until that point. Do you think, so one thing that I find interesting right now is you see, you're seeing countries like, okay, Nigeria where they're like, hey, this is basically making our currency totally useless and totally worthless. And I get countries like that pushing back until there's literally no other option. But that's kind of peanuts even when compared to like corporate treasuries, right? like a corporate treasury versus like the the the money that's in Nigeria is probably not you know it's not going to hold a candle to like the s and b 500 um getting in but what i'm curious about is the dynamic where smaller governments within a larger government start to get involved and does that eat it from within so like perfect example right now mayor of miami is super fucking bullish bitcoin he's coming

into Bitcoin 2021. He's talking about putting the city's treasury partially in Bitcoin. He wants to give the option to pay employees of the city in Bitcoin. He wants to give the option to pay your taxes in Bitcoin, which why the fuck would you ever do that? But hey, at least it's like, you know, dump those cuck bucks first. But regardless, he's super bullish Bitcoin. And so you see potentially a municipality getting into Bitcoin.

And then I'm sure eventually you'll see more, but then you start to see. maybe individual states getting into Bitcoin. And at what point does so much of that build that the Federal Reserve has so little control over everything, but it's too late because the individual states have acted independently of the Fed. Yeah. It's direct competition with the money that works. And on the tax part of it, I had this theory of if a entire state puts their treasury

into Bitcoin and that stuff goes up like it does. What's the point of even taxing your citizens? Think about it. I mean, don't you want them to have more money to like spend the economy? Like not to sound like a Keynesian or whatever. But like if you just let people save in a money that holds its value over time, they will save and work harder but work less because some money does that.

you have more of your time. And you just open up this door for people to invest in themselves and invest in projects that matter. So the quality of life just goes up astronomically. People start buying much less because they can they can buy more with less, but they'll end up buying less because the quality of each good that they buy will actually last. And everyone will just be living in just a higher quality. your life in general. And I don't think that you would really have to tax. Like if

the state government had their own treasure in Bitcoin, they have the same good money as everyone else. It's really interesting. And plus, it's a bearer assets. It's kind of hard to... Well, I mean, the government can produce things, right? I mean, even now... Well, no, the government can't produce

things. Government does not produce. It's a terrible site. Right? But the thing is that, but they can do it. And then what they're going to find is they're not able to do it profitably and then they'll have to stop doing it because they can't just print more money to make themselves profitable right they can't or they have to get more efficient and do things well but they won't jump right to the that part they'll they'll they'll try and they'll fail and then they're you know there's no there's no lender of last resort with bitcoin yeah so there's

and i'm hoping this starts off like you have like your marijuana states that just pop up gradually and then you have all these self-sovereign you know now countries and it is just a direct threat to the whole top-down, you know, federal system. Yeah, it'll be interesting to see. Separation of money and stay, right? Like, that's what we're talking about for a long time. It's separation of money and stay. But it's not going to destroy state.

Like, it's going to separate. No, it will be a peaceful revolution. I think this is the opportunity that it's going to be more of an easy transition than the dystopia we all like to talk about. Yeah. Well, and like societies that embrace hard money outcompeted societies that don't. So as an American citizen, I really, I really do want to see the American government embrace Bitcoin and a Bitcoin standard

or at least, you know, peg to a Bitcoin standard so that America can continue to prosper, you know. Well, and have the jurisdictional arbitrage within America first and then if shit gets really bad, then we'll go overseas. Yeah. Well, and the thing about starting kind of municipal and then state level is you'll get that juxtaposition of people that have shifted and people that have not. And you'll get to see the standard of living from.

state to state based on what they've decided to do and how they're handling their money, right? And you kind of already do see that. You see this exodus of people from California, you know, based on the way that they handle their shit, right? Like people left because it was just terrible. Like they overtax and you're, it's like living like the couple times I've been to San Francisco, it got worse from like the two year window from when I, I was there last and then when I went back. And it was just, you know, like Bitcoin 2020 or sorry, 2019 when I was there, it was, it was crazy to me because I'd never really spent much time there, but, you know, walking down one

street and it looks okay. And then you turn a corner and it's like a third world country. And there's like some dude like about to shove a needle in his arm. And it's just, it's just insane to me how crazy it is. And like for people to be paying that much to live there, of course. of course people are going to leave. And I just, I see it as people that adopt this first, people that adopt not only this money, but through proxy, its values or the values of actually allocating capital where it's warranted

and being punished if you don't, just naturally through the money, will breed a better society that people will gravitate towards and will cause more people to try and emulate. Yeah, I agree. I mean, my base case is that I think we're seeing early signs of hyperinflation now. Like, I just think it's really hard to identify unless you have an alternative measuring stick. Like, and so us as big winners, I think we can see it a little easier. But when you look at, you know, widespread loss institutional confidence, 50 million Americans unemployed,

the stock market is all the time highest global protest movement, people storming the U.S. capital. You start to go, hey, what's going on here? Is this all connected? Because it kind of seems like it's all connected to me, right? Right. And if things continue to get worse, if America suffers an inflationary collapse, you're headed towards authoritarian and authoritarian regime, which is not something anybody wants to see. And so, like, embracing Bitcoin earlier, I think can stave off some of those ill effects that can come from widespread economic destruction. So I would just, I really want to see them embrace Bitcoin, man. I really think that's the only play here, you know. And even if people don't embrace it, like the no-cointers, if they don't embrace it right away, they have guns.

There are more guns than people in the United States. And we will not put up with totalitarianism. I mean, yeah. We'll see. T.D. Phil. People didn't, people who kind of like just went to the slaughterhouse this year, 2020 show us that. Yeah, I mean, I'm expecting it. They're just like, what do you want me to do? Just wear nine masks? Two masks.

I'll wear two masks. Did you see the, did you see just today somebody dropped it? It was a video. Some dude, he just stood in front of like, I don't know, what's the like drugstore that you guys dab down there? I don't really know like CVS. Yeah, CVS. Yeah, CVS. I think he was in front of a CVS.

Some dude stood in front of a CVS, made people go like this and he had a lint roller. And he would lint roll their own their arms. And nobody questioned it. Everybody that walked up was like, okay. and he like lint rolled like their rib cage and then let them pass and they were just like yeah what a clown world this is i also i just think kinetic i think the days of net warfare are over like i think civil war is over like the second amendment will never be used to stop a tyrannical state i i don't think like i know that was the original intent of it but just the world has moved

on and like what we've seen now is that we live in informational and economic wars that are 24 7365 and there's no distinction between military and civilian participation. So like, you know, does the idea everybody get guns? Like, it's not going to work like that. No. I do retract that comment, but it would be interesting because we kind of had some of that in the streets with the rights and everything. But like, I don't think it blows up to a proportion to where they actually do something with it.

Because it's just like the sovereign individual thing where there's no real return on violence. So I don't know. I got to settle a baby. I'll be right back. Cool. No worries. Yeah, I think I think there'll be some that would push back in that type of an instance. But it would be, as we've kind of seen, far less than we would have originally imagined, I think.

But I don't know. I'd digress. Let's jump in to our final read. We'll fill in Hoddle when he gets back. Yeah, we'll film in. Yeah. So by the way, We've had we've had as high as 180 at one point people watching live.

Smash that like button. Give this a share. We're about to dive into our final reason for being bullish this week. Denver, it's all you. What are you feeling? Yeah, man, I'm bullish, you know, kind of along the lines of what Hoddle said with, you know, the energy fud. But, you know, I'm caught every day I'm on the phone. Today I had four calls similar to like with this with three people, you know, petroleum engineers,

mechanical engineers and oil and gas producers. the oil and gas industry is waking up to Bitcoin mining and they're taking a serious look at it. I mean, a lot of guys, I'm talking to a lot of guys all over the country that are looking, you know, they have tons and tons of energy that they can't effectively bring to market. And they're starting to take a serious look at it. And so I think that that is kind of the first layer to, to the first domino in a set of events that are really bullish. one of them being, you know, just kind of the mature maturity and maturation of the hardware side of Bitcoin, the actual, you know, semiconductors and computer chips. But also, this idea, this battle of if Bitcoin is green or not is coming to a head, right? It's almost on like, it's almost Las Vegas Boulevard fight night.

We're not quite there yet. But like, we've had some pretty big rumbles in this ideological. arena and it's kind of coming to a head and I think the truth is on our side. I think that Bitcoin is a net win for the environment. And so, you know, this is this is an arena where I constantly improving how green Bitcoin is by by helping out these oil and gas producers and helping them mitigate their flare. And my God, I'm only seeing more excitement and more energy, more enthusiasm from these guys every day. So it's like I'm, it gets me excited. It keeps me going. and it's only the beginning.

It feels maybe like we're at the end, Bitcoin's at $50,000 like you missed it. I'm completely the opposite. It feels like just the beginning right now. Yeah. It's true. It's so interesting to see, you know, those arguments, but then knowing behind the scenes how much is changing

and the implications of particularly, you know, what you're doing. And if I'm not mistaken, are you doing some work with Steve now? Are you with upstream? Yeah, yeah, I'm with upstream data. So I'm actually, you know, I'm working with oil and gas producers every day, helping them size out and scale operations on their flare gas.

So, I mean, I'm talking with these guys constantly. And when I, you know, when we talked about these ideas and we talk about and run the numbers, I mean, these guys get so excited at the possibilities ahead. They start getting ahead of themselves. And so we have to take a step, take it slow and, you know, make good decisions. and that way it makes the most sense. But ultimately, this is the tool that the oil and gas industry needed to revitalize itself, to get to get guys motivated to produce energy.

And now they are really motivated. Yeah, because it's been, you know, here in Alberta, it's been rough. Like, there's just been one thing after another that's just kind of like screwed over the industry here. Yeah. I mean, maybe there's a bit of overreliance on it here in my province. but at the same time, a lot of, a lot of the hindrance that we've experienced is

kind of coming from a federal level where they're like, listen, you got to do this and here's all the taxes that you have to deal with and we want to drive people towards other options without really like giving a feasible route to go that way. And not to mention that within Alberta, like we don't refine any of our own oil.

In fact, I don't think we have refineries in Canada. So we just ship it out. Well, kind of what you're getting at. And this is, it's funny. I had,

like I said, I talked to a guy today. He's out in Oklahoma. He's got oil and gas assets all throughout Kentucky. And I mean, this is, he's like, he's a good old boy.

You know, I mean, he's a really smart guy, but he's really practical. And, you know, he's not going to, he's not going to rush to spend money or something.

But what he, what he voiced to me, what he told me was the part about this, about mining Bitcoin on the flare gas that he found to be really attractive was how it removes the counterparty risk where he's seen he's seen oil and gas guys you know they go out they risk a bunch of money they drill some wells they you know strike gold right they strike black gold they get they get crude and they get a great great amount natural gas and then they have a there's a pipeline that you know is part of this operation and so they they they get approved to build the pipeline and they get running

and they get you know just into selling gas and next thing you know the regular are coming in, they're inking the pen, and they're going to shut the pipeline down. And this is what happens, right? And then literally they go bankrupt. They file chapter 11. It's over. And so, like, you know, mining Bitcoin removes that counterparty risk of like, you're actually doing an environmental service, right?

The regulators are more likely to treat you well because you're, you're mitigating your waste and you're being less impactful. And in order to mine Bitcoin, you don't need to ask anybody's permission. You don't need to get a license. you need an email address maybe and a Bitcoin address and you're selling energy. And so these guys love that reduction of counterparty risk and man, they're bullish. It's interesting because I've been to a few events here in Calgary. But that was like a few years back, kind of in the bear market.

And I watched a few presentations from a guy that I know. and he gave a couple of presentations of the whole oil and gas thing. And there was lots of people watching and listening, but there was definitely a resistance to it. There was definitely a, well, I don't know, it doesn't sound feasible.

Is that shifted? Well, yeah, so the way I described that, and it definitely has. I mean, when I got in 2018, I had to be annoying as hell.

I was calling producers all the time, these guys that I was working with, and I was talking about it. And literally, for the most far, just laugh at me. But this is the thing is that they they laugh and they're laughing hard, but then at some point they look at the numbers. At some point they see Bitcoin at $50,000. And it's not funny anymore. Right. It's serious. It's like a serious opportunity miss.

And so they're laughing until they're not. And we're getting to that point where their laughter is fading because they're running the numbers and they're looking at it going, holy shit. Anybody back in 2020 that did this, they look like a genius today. there anybody that's operational right now is getting more money for their gas than I've ever gotten like we need to take a serious look at this and so like it's coming around I mean they're Bitcoin's price is the most powerful manipulator of a thing and we're seeing that happen I keep it keeps coming up in my head that number go up is like the greatest technology not only because it makes us rich but it's like

the pure carry at the end of the stick or the stake at the end of the stick that we all kind of need because people see profit, but they also see opportunity. And the infrastructure that we will need at that time will get built out because people will find the incentive to do that.

So you talk about whether it's lightning or privacy solutions or mining, Bitcoin mining, those things are going to present themselves through that. And like what you mean, Sorry, go ahead.

I was going to say beyond those lines, right? So one part about the incentive aspect is it actually incentivizes guys to better produce a well. Right. So right now a lot of guys go frack a well and they jam a ton of pressure into it, right? Because they're just trying to get the crude and they're burning the gas. They're just trying to get crude out and make their money. But now because they could sell that gas, they can mine Bitcoin with it, they actually will produce the well differently. They will ramp down their crude production and they'll slowly steep that gas out first.

and they'll make sure to bring all that guys to market. And then they'll produce, they'll go heavy on the crude. And they'll actually produce more overall. The entire lifespan of that well will be a much greater and efficient production because of the way in which they produced it. And so Bitcoin incentivizes these guys to just be better producers. And you're right, that bleeds through all of their industries. It's a weird thing when you fix the incentives, how quick the world gets fixed.

And it actually fixes them because when you described how the light bulb went off, how they didn't need to deal with another counterparty. They, without knowing in a way, like embrace that piece of decentralization and added that to their life tool belt. So Bitcoin is changing people and they're liking it. You know,

it's not like they're reluctant. They may be to the idea at first, but it changes them in their mindset and perspective, like for the better. And like what I was mentioning- They can't help but be attracted to the reduction in counter-party risk, right? that like they deal with counterparty all the time. If this,

if I can sell my gas and not have a counter party like, oh my God, like sign me up. Like I need to look into that. That's huge. And I'm loving how they're just like adopting all the positive characteristics of Bitcoin. And like what I mentioned fed wire going down and everything. People, institutions,

people in power are noticing that Bitcoin is a threat and they're scrambling right now. And ultimately that's what's making me so bullish. people like Denver saying in the mining industry and everywhere else are realizing that Bitcoin's the solution that they didn't know that they've always needed. Exactly. So it resolves some pain. Bitcoin is a threat. You know, like I wouldn't say Bitcoin is a threat.

I would say Bitcoin is an option. Bitcoin is a lifeboat. It's an escape route. Right. It's a very, very positive thing. And I mean, we're at the logical conclusion of the, of a Fiat. regime. This is how they end. They end in hyperinflation. They have to by design, right? And this is a lifeboat out from under that. And so why would you get up? The ship's already sinking.

Like, we hit the iceberg fucking an hour ago, dude. I do love the implications of all these energy producers that, you know, like Phil was alluding to, they get exposed to the idea of being able to sell their energy effectively with no counterparty. But then they're subsequently exposed to the idea of having massive amounts of capital that they can move anywhere they like with nobody between them and where they want to move it. And that realization of like, hey, I'm completely outside of the system right now. This is mine.

Effectively, nobody really knows that I even have it, you know, until it gets declared in some way, shape, or form. There's nobody that's going to stop me from moving it to here or there. And that kind of realization for them, that's going to be huge when you get all of these major players that are basically supplying America, Canada, the whole world with their energy are exposed to that. Don't you think that just it kind of just permeates everything because those people interact with a lot of other important people as well.

Well, it's crazy. Okay. So one thing I like to stress at times is like a person could be born today and they could grow up never talking to another human being, right? Like you can get to an adult age. And at that age, they could rig up a system where like say they even ride a bicycle and they charge up a battery by using their motion. And then they could mine Bitcoin with that electricity they generated. They could participate in a marketplace, right? They could earn money without ever having to talk to something. Without ever having to interact with another human being, they might need an email address if they're with a mining pool. Otherwise, they just need a Bitcoin address. Like just that optionality, like Cottle said, just that potential changes everything about

energy production. It's very, it makes it kind of like the Wild West again, where all of a sudden it's like, shit, if you can go find energy, you can start selling it. Like the second you get it, like you can start generating electricity and selling it. And so it's going to cause this revolution, and this kind of renaissance and energy across all sectors, oil and gas included. And that's going to be, that's going to be what really helps setting change the world. And it'll orange pill these guys.

This would actually get me to ride my Peloton. Like if it mine. No, exactly. Yeah, no, me too. Me too. I was just thinking like my five, six mile like treadmill. If I could just put on like a smart watch that didn't, wasn't part of the Pinocticon and I could sell that hash power.

I thought about with. those, I mean, before COVID, obviously, but those 24-hour fitnesses, like, in Manhattan, and, like, there's, like, hour-long weights to get on a bike, and it's just, like, an army of athletes, like, chugging energy. I'm like, dude, this is a black mirror episode, right? I love it. Awesome. Well, Jens, I'm going to start. Their gym membership for free if they would. Exactly. There you go. If you work out hard enough, you work out for free.

Are we convinced, are we convinced that, are we convinced that the Matrix was not just a movie about the machines realizing they can plug in humans to mine Bitcoin? Bitcoin cures obesity. Exactly. No, it's it's fantastic. Economically incentivized people to go work their ass off. That's great. Okay, Jets, I'm going to start wrapping this up. Let's just, first of all, thanks everybody who's watching and or listening, if you're listening to this on the pod later. Smash, like, give this a share. Thanks for being in the chat. I'm going to go down the line really quick. Again, if you guys can just give any final thoughts, words of wisdom, anything you like, and let people know where they can find you.

Let's do Hoddle first. Go ahead. Man, if you're new, if this is your first bull market, here's some things you need to know. Right now, at 50K, people are calling the top. Those people are obviously stupid, right? But at 100K, people are going to call the top, and it's going to seem somewhat more credible to you, it will not be the top. At 200K people are going to call the top.

And it's going to seem even more credible to you because what we just double, it will not be the top. At 300k, it will not be the top. At 400K, it will not be the top. At 500k, it will not be the top. There's no top. It's just going to keep going. All right? Commit yourself to holding through, like, especially if you're new.

Commit yourself to holding through for 5, 10, 15, 20 years. All right? That's how long term you need to be thinking about your Bitcoin investment. Don't be thinking, oh, I'm going to flip it for some quick profit. Like, you're going to end up poor. Do that. Don't do that. I love it.

Awesome. You can find him. What's your, what's your handle now? American Auto 3? There's been so many. No idea. I have no idea. I don't even know my own handle.

That's great. Perfect. You'll find him. Don't want. You should unfollow. If you're following me right now, you should go unfollow me. Go unfollow. Go, go.

listen to him, tear it up on clubhouse. I love when you fucking drop, drop knowledge on chit-cointers. Let's jump to Phil. Phil, any words of wisdom

where people can find you? Yeah, words of wisdom. Hoddle is actually a sweetheart in Clubhouse. If y'all didn't know, if you thought he was a dick on Twitter, not the case on Clubhouse.

So, noob's welcome. But, yeah, my name's Phil. Phil Gibson. My handle is Mr. Sue.

That's spelled M-R-P-S-E-U. As I mentioned earlier, I got a podcast. It's called a boy named Sue. Denver was on there. Talked shit about mining. And I'm a musician, wrote a song called ETF. Just search it on YouTube, Mr. Sue, ETF. It stands for End the Fed, because that's why we're here, mostly. It will probably end itself, though. And, yeah, go to swambitcoin.com slash phil to start stacking sats and save

your savings because you work hard for your money and you want it to last and yeah you deserve it and other than that ben i love coming on here thanks for having me again yeah no worries man always glad to have you let's jump to uh denver uh words of wisdom and where people can find you yeah i say stay humble is always a good one i mean what a time to be alive i think right now i mean what a what an epoch to be you know to be active and be a professional in um i'm on twitter at Bitcoin, you can follow me there. Shoot me a DM, shoot me a message. Happy to talk with people. And stay humble. Maybe buy some Bitcoin for your parents. I think that might be something I tell people. If you've got some boomer parents that are reluctant, you know, set some Bitcoin aside

for them. All right. Be a good kid. And look out for the loved ones. Awesome. I love it. Guys, thank you all for being here. I had a blast. I'm going to cut your audio video in a moment. but if you do want to stick around and say a quick goodbye after we go offline, then I'll still be here. Okay, I'm going to drop everybody's audio video. Thanks, gents. And everybody watching, thank you so much for being here. Always a blast.

This is always the best part of my week. A good way to cap off my Friday being bullish with a bunch of awesome Bitcoiners. I wouldn't have it any other way. I really wouldn't. So thank you so much. Now, as always, like, subscribe, share. Those are so important. They really help the show.

It gets this in front of more eyeballs. If you want to help the show in another way, you can hit up the sponsors I mentioned before down below. That was Ledin, Cobo, BitRefill, and Bill Fottle, all those links are in the show notes. And if you really loved what you saw, and I'm going to bring it up right now, you can drop me a Bitcoin Lightning Network tip at my tippin.comi.

That is tipin.com. dot me slash at BTC sessions. With that, I'm out. Have yourselves a wonderful day, wonderful evening, wherever you may be. And I'll see you next time for your daily session. See you guys. Toddled at Bitcoin.