BTC Sessions - WHY ARE WE BULLISH? Yellow, Sean Harris, Plan Marcus ep235

Episode Date: February 5, 2022

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What's going on, everybody? Welcome to the show. Another Friday. Another episode of Why Are We Bullish. It's been an exciting week. I've got fun guests today. I'm happy to see them all again. Yeah, been crazy.

A little busy this week, but we will chat about it. It's obviously going, if you already know what I'm talking about, you already know what my reason for being bullish is. So, spoiler alert, chat about that a little bit today. But again, welcome to the show. As always, this is live. Anything can happen. So I defer to my friend Bill here.

We'll do it live. Okay. We'll do it live. Do it live. I'll write it and we'll do it live. The thing sucks. If you haven't already, like, subscribe, share. All those things are just so incredibly important.

And they really do help the show. With that, I am Ben with the BTC sessions. This is your daily session. All right, before we bring in our guests, let's take a look at where we are in the market right now. Up a little bit. It's pleasant. Don't get too excited. I don't know.

You never know. It might be another bitch slap back down. Just be open-minded about it. But anyways, we're sitting at $40,676 some odd dollars per coin. A single U.S. dollar will pick you up $2,459 sats. 90.23% of all Bitcoin have been mined. And in terms of fees, a little bit higher today. Nine sats per byte for the next block.

Even if you're willing to wait an hour, five sats per byte is a safer bet. A bit of excitement with, I guess, that price bump. So yeah, just be aware, slightly a little bit of a higher fee if you want your transaction to go through quickly today. Show that to sponsors of the show, shakebay.com. If you're in Bitcoin, you're buying Bitcoin. If you're in Canada and you're buying Bitcoin, super easy way to do it.

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They have a B2X offering if you're feeling mega bullish. Be careful. Don't go to DGEN there, though. Okay. Moving on, beer refill. I live on Bitcoin. This helps a ton. I can get every gift card that I need here.

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And finally, you're backing up any important Bitcoin wallet. Check out PrivacyPros.com and grab yourself a bill foddle, solid steel for your seed backup. Paper sucks, guys, fire damage, water damage. You might discard it. It's just a slip of paper. Steel. That's the way to go. So anyways, enough franting, guys.

Let's bring in some friends. We got a good handful. Yellow, Planned Marcus, Big Sean. Greg, Greg, you made it. Are you in the car? He's for sure driving right now. Okay, good. Yeah, awesome.

Awesome. Well, gentlemen, welcome to the show. This is the second time doing this exact panel. Last time I was with you, I was in Greece. Back home now. That was in August. Been some time. So I'm glad to have you guys back.

Welcome. Let's do a quick down the line of intros, and we'll see if Greg is there when we get to them. But Yellow, let people know who you are. Hello, everybody. I'm Yellow. I do memes and other stuff. Yeah. I don't know, man.

I do a space every day. Don't stop believing. I keep on doing it until 100K. I do silly stuff like that to pass the time until hybrid bickonization, I guess. Awesome. I love it. Well, I'm glad to have you, man.

Always the best special effects that I've ever seen. So thank you for that. There we go. You've got it all lined up. Awesome. Sean, how about you? A little intro. Hey, I'm Sean Harris. I do memes as well with the

meme factory. I'm a guy making those ad copy videos after our podcast. I play basketball. I'm out here in Spain right now currently in the Canary Islands and I love Bitcoin. So I'm here and I'm bullish. Awesome. Glad to have you. And Marcus, you're up. A little intro if you may. Yeah, Ben, thanks for having me. Last time, six months ago I was in St. Martin. You were in Greece. I'm back in Amsterdam now. I'm actually going to be moving back to in martin in august so got a nice change of scenery coming up i got to get out of this crazy european space work yeah so things are going to change i make memes you know i just i just hang out

on twitter i try to suck up as much podcasts like this one and a lot of other ones so it's great to be here great to hang out with with the crew from the meme factory and yeah you know we just make memes and whatever whatever's happening on Twitter we try to make something creative. I gotta say Marcus has the more undervalued like a Twitter account. His videos are so wholesome and uplifting. Well, we better all go give him a follow everybody that's watching right now. He's size. So spread the love, guys.

Yeah. Now, since Greg is actively driving home and having trouble, I'm going to let one of you guys give Greg an intro. Who wants this one? Yellow, yellow, go for it. Okay, wait, I got it, I got it. But you got to be Greg, you got to be Greg. Oh, I got to be Craig?

Yeah, you got to be Craig. Okay, I got to be Craig. So, hey, guys, my name is Craig. I really don't know what special about me, but like everybody tells me to go fuck myself. And I don't know, I do memes. I'm also in strike with yellow and RD. And I'm here for something. He would say something like smart now, but I'm not that.

Yeah. Something about space. Say something about something nerdy now, he would say. Something nerdy now, he would say. Okay, great. Perfect. That was a, it couldn't have been better if it's Greg. I'm sorry. Perfect. So, yeah, let's dive in.

When Greg gets here, we'll bring them in and tell him he got an excellent intro. But everybody watching, thank you for being here. This is our panel today. And if you're new to the show, this is why are we bullish? We go by the three R's. Somebody's going to come with a reason for being bullish. We're all going to riff on that reason together. and then we're going to rotate to the next guest.

All right. So really simple premise. I am going to get us started here and give my reason for being bullish, has a couple of physical accompaniments here that will actually function this time. Of course, I did news yesterday, and I just couldn't share my screen. So there we go. Introducing, if you haven't seen them already, honk honk hottle, aka me. This is a page that I created at the beginning of the week.

It's already got, holy shit, almost 1,400 followers. So this is in support of the movement in Ottawa, Canada, to help raise funds for the truckers and those that are pushing for the end of the restrictions, as we know them right now, in Canada. And so basically, we saw earlier this week the GoFundMe, some funds were released to the people running the GoFundMe, but right now, last I have heard, it's currently, it says it's under review, but effectively the funds are not being moved at the current time.

And my understanding is they're doing a review of the terms and conditions and seeing if all, you know, where funds are being allocated, basically long and the short of it, a bunch of people donated money and that money currently is unable to be moved. And so, you know, obviously as Bitcoiners, we kind of see this, we've been seeing this type of stuff for years. And well, here's an example of where Bitcoin does not have that problem, where when you send Bitcoin, it can instantly be in the hands of those that you send it to. And so Hong Kong Kotel was born and created a page on something called Tallycoin, which is really awesome. It's effectively, it allows you to create a fundraiser. and either use a static Bitcoin address, an ex-pub,

so multiple addresses for each transaction, or link to your Lightning node and receive Lightning transactions. So that's exactly what we did. We have a steady stream of people contributing like this gentleman here, 10,000 stats, and the message was the honking must continue until freedom improves. So this is kind of what has been going on. Again, it's been three days.

We have 1,048 contributors, and we're 87.2% to our goal of 100 million sats or one Bitcoin. So we've so far been given 87 million sats. We actually might be quite a bit closer to that 100 million SAT goal because I was talking with the creator of Talleycoin. And he said there's a couple background transactions that actually did confirm, but aren't showing as confirmed yet on the page. So when that gets updated, we could be damn close to a whole Bitcoin in just a few days. So I got to give a shout out to DJ Booth, who is the person who created Talleycoins. And I got to give a shout out to Umbro, because it was easy as Pye downloading the Tallycoin Connect app in Umbroil, and then just connecting this fundraiser direct to my own Lightning Node, which I can now see just transatlantic.

actions stream in as people make them. And for the beautiful part, maybe there's some people that might be curious in watching this right now that don't know what the deal with Bitcoin is. But effectively, this is a fundraiser that was able to take place that the moment you send the money, it is in the custody of the people actually organizing the fundraiser and cannot be held captive by a platform. And so this is why I'm bullish today is because I'm kind of seeing the miracle of Bitcoin, of lightning network, of running your own node, the censorship-resistant nature of Bitcoin, and incredible builders in the space like DJ Booth, creating things like Tallycoin. So I just got like slapped in the face with how incredible Bitcoin is yet again,

and it never ceases to amaze me. So that's my reason for being bold, gentlemen. If anybody wants to jump in, go ahead. Awesome, man. Like in three days, in three days you bypass all that like corrupt centralized system of like crowd

crowd funding and all that. Like that's awesome, man. I don't know if all the listeners know, but I think the GoFundMe page, that's the backstory, right? I mean, the Canadian truckers, they had about what, 8 million, 10 million in donations sitting there? 10 million. Can you imagine? On a GoFundMe?

And then what? The mayor, the mayor of Ottawa said we have to seize that money and they... They're talking about they want to sue GoFundMe and they're basically trying to stop that money from getting to where it was intended to go because it's possible to do that. Now, whether or not they're successful and actually fully stopping that money from eventually getting there. I don't know. But yeah, it's shitty because it's like, It's more of a time-sensitive thing, like the money is useful as the protest is happening.

And so that's where Bitcoin comes in with. It's there and it's accessible. Yeah, I think it's just interesting how, you know, you can layer it with bureaucracy and say, oh, we need to get the lawyers and make sure there's a plan with the money. But with Bitcoin, you can just send the money. You don't have to worry about if a third party is going to stop it, seize it. you don't have to worry about anyone getting in your way. And I think that's what's really cool is you make the transaction and it's peer to peer

and you don't have to worry about anything else. Yeah, absolutely. Yeah, it's pretty amazing. And again, we will see, you know, we're getting input and we have a guy on the ground who's kind of seeing what's needed and what's not. But yeah, that's that is kind of where we're at. And also I'm getting people messaging me right now. I think because we just went live, a bunch of people are trying to make payments right now,

and the lightning portion is maybe my notes getting a little overwhelmed. Let's go. Why are you such a bear, though? I mean, 100 million sets, it's like you've got to pump those numbers, Ben. It started as 10 million because I was like, I don't know, how many people are actually going to give a shit? Turns out a lot. Turns out 1,050 right now. So, yeah, anybody.

Let's go, guys. Let's fill it up five minutes. Pump those numbers up. Yeah. Can they go past? Can it go past the goal? Oh, yeah, yeah, absolutely. All right. If anybody, I love that yellow's throwing trucks right now. It's awesome.

All right. Greg is not here. Greg is not here, but Greg wanted me to tell you guys that, you know, that above 100 million sets, he's going to double whatever it goes above. Yeah, he said it's over. Yeah, yeah, yeah. That's awesome. Lever is two sats what you're part of it. Free Labra.

If anybody is currently on there just trying to send sats, it might be like after this show, I'll check on the lighting portion. It may be just overwhelmed with people trying to use it right now. But on chain will continue to work and I see those coming in. So yeah, that's it. Thanks to everybody that's looking at that, that's contributing. And yeah, we will, you know, Greg Foss is helping out with it. Jeff Booth is helping out with it.

And so between them and the, between them and our man on the ground there, he will help determine kind of what's needed most. And that's where things will be funneled. There was a couple of cool ideas that were thrown out. I saw somebody that just took like, not through Bitcoin, but just took like 13 grand and bought that much worth of fuel. And then just said like, pull up to the gas station, up any truckers. And so that was one idea. The other thing is, is like some of these gift card

places, like I mentioned, bit refill, but there's also coincards.cai in Canada, and you can just buy any gift card with Bitcoin. So maybe giving out gas cards might be something that could be done, maybe giving out grocery cards, just things like that. There's a lot that could be done. And then bull Bitcoin in Canada, you can pay any bill with Bitcoin. So if something was needed sent to an actual biller if I don't know if that would be useful in this situation but there's a lot of options in Canada in which Bitcoin can be used and same with shake pay you can fund your send Bitcoin there and then use the tab visa so yeah we'll see but we'll see what's actually needed first but yeah can you imagine like quitting because these guys are just parked up there you know like they're

not running their trucks it's costing them a lot of time a lot of money probably a lot of stress on their families as well. It's not like they're there. And what's the temperature over there? I'm like so bullish on them. If you're like minus 20 willing to, you know? Yeah, there's spots as they were driving through, especially like in like Saskatchewan and in Manitoba and stuff where in parts of Ontario was like minus 30 or something and people were standing outside, just cheering them on and flags and stuff. So yeah, I don't know. I guess that's what Klaus was talking about. have a small but closing window of opportunity before. They figure nobody's going to protest in the midst of the window.

We've got to push this true now, guys. The window is closing right now. I guess if it was going to be anybody in the winter, it was going to be Canada. We don't get a fuck. Canada or Russia, those two. Yeah, yeah, exactly. Awesome. Well, I won't take up too much time with this topic, but again, I'll just say,

thanks to anybody that's contributed or shared or anything. Follow Hong Kong Coddle if you want updates on that. I'll be putting those out as they come. So, yeah. Yeah, let's keep it rolling. If you haven't already, like. Subscribe all that good stuff. Keep the comments coming.

I'll start pulling them up. But we're going to rotate. Yellow. You get to take us on a journey. What are you bullish about this week? I really thought about that question. and I was checking the hash rate numbers

I was checking the lighting network funding numbers the liquid too and I was thinking about like I could talk about all that but like in the end for me I just I am bullies because I look around even if we fight like I see the fellow Bitcoiners

and the solidarity entirety we have between us. Loe there I see my mother and my brothers. The line of my people back to the beginning. That's the only scene in my mind playing, man, every day. What movie is that? Thirteen, man, come on! In the house of a hala, where the brave men live for all.

live forever. I got nothing else, man. That's so amazing. I need to look up this. It's like, what hell is the 13th Warrior? The 13th Warrior, epic, epic movie, man. Haven't you heard of it, Ben? It's the 13th War?

I had not. I did not know that it was Antonio Banderas. Dude, it's a fucking awesome movie. Watch it after that. and my mind is a meme, so I think like that. I don't know, man. I'm bullies for my fellow bitcoins, man. Let me read the summary of what this is.

A Muslim ambassador exiled from his homeland, Ahmad Ibn Fadlin finds himself in the company of Vikings. Ooh, intriguing. While the behavior of the Norseman initially offends him, the more cultured outsider grows to respect the tough, if uncouth warriors. During their travels together, Ivan Fadlam and the Vikings get word of an evil presence closing in, and they must fight the frightening and formidable force, which was previously thought to exist only in legend. Well, obviously, this is what I'm watching this week.

Dude, YouTube, like, I can't believe you haven't watched it, man. Come on. Don't get you started. Tuvalhalla! That's awesome. I am watching that now. I keep that background. I'm still unclear about what made you bullish about that scene.

We're all brothers? Yeah, man, solidarity. Like, we don't give a fuck. Like, in the end, like, the number goes down. down, good for us. We buy more chips. The number goes up, we party. Like, I don't know. Also, shout out to my favorite viewer right now, David Wong. We love you, dude. David Wong is, I said hi to him in the chat, but I should say hello to him in person every episode. David, welcome. Very glad to have you here, those not aware. David is my number one fan. he never misses an episode of why are we bullish, despite the fact that he despises Bitcoin.

And he's always telling us in the comments how incorrect we are about all of this. Right now, he said, 10 years, Bitcoin will be around 10K to 50K level. It is a trade. I'm not sure what he was, yeah, I mean. Sounds salty. It is, it is a little salty. I'm just trying to see what David's been. up to in the in the chat here uh has david been right uh well i mean he he he is to give you an idea

of his time preference he tends to look at three month windows of price action so uh he said i am i am trying to find the bullish case but i can't find any um but luckily he is sticking around and watching the show so maybe he will find it somewhere herein uh i guess yellow didn't get them but we've got lots of chances to convince him of how bullish this is. And Greg is now joining us. Greg, you had an excellent intro provided by yellow earlier. I hope you look back at that and enjoy it. It's horrible.

Sorry, Greg. Well, he's maybe here, but at least he's got a... Thank you for your donations, Greg. I'm also bullies about fictosy being back on Twitter because, like... Is he? Yeah. My news to meme is back So I can have so many ideas now

What's his what's his Handle do you know Yeah I'll DMU It's like I have so many ideas I can play Rainbow Dildos now like eyes Like I don't know man Yeah I'm gonna have to give that

Give that a quick follow Because that Twitter I wonder like it's just gonna be people tweeting like screen caps of charts of BSV versus Bitcoin. It just smashed through a new all-time low, so that's good. Every month he does. Yeah, it's a trend. This will not be news.

Yeah, that's, well, I mean, hey, I echo your sentiment. You know, Bitcoiners just kind of, the, the, the, Bitcoiners that matter are the ones that kind of stick around through, you know, they see the hype come and go and and there's they're still here and those are the especially when you see like if you're at a conference or something and you see somebody like during a bull market and then you see them again during a bear market and then you see them again in the next bull market and there's just this silent knowing this gaze that you just kind of look and yeah we know we've been here so yeah it's uh i'm also equally bullish on the on bitcoin is uh anybody else uh want to try to try to

in before a rotation? Greg's poor Greg. Right on cue. Yeah, yeah. Well, we can, if it keeps happening, then, yellow, you can always give Greg responses

at any point if you so choose. If you think Greg would ever say something or respond in a certain way, then you are welcome to get his voice. I think you, at this point, you cannot know me. I don't know if it's like very,

wise of you like to give me that kind of freedom. I will say this about Bitcoiners. It is just fun to get to get with a group of people who have done the work, you know, like even Marcus and Yale and I were talking earlier today. And it's just fun to talk about people who know about Bitcoin, who study and understand what's going on. Instead of like talking to the same people every day who have no clue, they have no clue why certain problems are existing,

why certain freedoms are being infringed on, all these things, and then you get bitcoins, and you can just talk and you're at the same level. So it's a lot of fun. Even last year, I went to the Bitcoin conference, and I can't go this year,

but it was crazy when you can just sit down and anyone you talk to, it's like you don't have to explain like five levels before you actually want to say what you want to say. You can just get right to the point. Yeah, yeah, absolutely. I got to echo that because it's like and the optimism that you find there

I'm like super bullish on meetups and you know like you got to find your we lost Ben no I'm still here yeah you got to find you know it's you know how we talk about like I'm class of 2018 or class of 2020

or you got to find your class everybody comes in at a certain point the rabbit hole is deep everybody's on some part of their journey and it's nice to find people are in a similar area to talk with, you know, and yeah, find those. And like, I'm seeing it around me here too. I've been to the Dutch meetup here in Amsterdam, which been, which was really good.

There was some shit cornery going on as well. But it's, there's a separate group called the Dutch node runners. They're like super toxic Dutch maximalists. You know, they just had a meetup this evening. I had to miss out on that one because I was. I think I had the Rona this week, so I couldn't go. But if you see like the energy in the telegram group and in the chats and everybody wants to work in Bitcoin and they're either coding or running nodes,

I mean, it's real. And you see it like growing each time and these groups are, yeah. How can you not be bullish about Bitcoiners? And you don't see people going the other way either. You know, like people might start out with like shitcoins, you know, move around. but once they hit that Bitcoin sweet spot, you don't see them,

you don't really see them going back, unless maybe you're called Ooty or something. I think, I think one thing, too, a good, perhaps, when somebody's kind of in the early stages and shit-coining and stuff, I think the kind of the deeper you get in and the more you want to kind of get your hands dirty,

the more curious you are, the more you kind of die, into the more technical aspects like oh i want to play with uh for instance i want to run a node um and so that becomes like that's that tends to be an exclusively like bitcoiner point of interest a lot of you know a lot of bitcoins are coming to the point where they're like oh i want to run a note and there's a lot of kind of uh work being done around that making that an accessible experience and being able to interact with your node in a variety of different ways using applications that plug into it. And I don't really see much of that, especially the amount of stuff that's being built in

and around that ecosystem available outside of Bitcoin. So I think when you're encountering people that are still dabbling in the shit coins, if you get them interested in the, oh, like, this is actually how I truly run this myself, then that becomes a point of interest for them where they start to realize, oh, Bitcoin is totally different. Like there's so much more being built here, so much more being done. Because when I try to do these other things on other chains,

it's just it's not possible. Same thing with doing things like multi-sig arrangements and all of the different hardware wallets, some of the ones that are Bitcoin only. There's just so many cool lightning network, all that kind of stuff, routing liquidity. Once you dive down that rabbit hole,

it's kind of hard to come back out of, And it's very sad because most of those seatcoiner is because I have friends that are still sitcoining. They are stuck in the in the view of Bitcoin as it was back in 2017. Like they think they just send Bitcoin back and forth and that's it. And there's so much stuff you can do nowadays. So many applications, especially with a lighting network and liquid like, dude. Cutts up.

Got's up, come on. Yeah, there's so much. And it's, again, I see a lot of people. I just had, have you guys seen on Twitter the crypto couple they're called? But they also have gone. Yeah, those guys are awesome. Yeah. So, I.

Oh, that's all right. Yeah. But, you know, they talked about how they kind of initially got in. And like, you know, there's a lot of information that's difficult. to kind of parse everything. But now they're, you know, they're basically having that education through, you see it happening. You know, they've got their main handle. But then they're like, oh, where, you know, the BTC couple, we should probably make that handle.

And oh, now all of their stuff is focusing kind of like on the ethos of Bitcoin. It's cool. It's cool to see. Yeah. Yeah. Yeah. So, sorry, Marcus, go ahead. Yeah, no, I have this other thought.

am I, I'm just going to throw it out there. I don't know if it's like, I was trying to make the comparison between like shit coiner's and that route. It's like, imagine somebody discovers like this terraforming, you know, where you want to live on different planets, right? And somebody, let's call him, Satoshi discovered some kind of magic blueprint where you can like teleport yourself to a different planet. you can also turn oxygen into like this very small liquid substance so it gets transported

within that blueprint to the next planet and then you can actually go and terraform that planet and actually survive over there and then some shit corner comes and says wow this blueprint is really cool but you know I can fix it right I don't need I don't need to use all this space on like oxygen I just want to be able to drive around and have fun on that planet too you know So I'm going to, you know, we'll fix the oxygen later. Well, we'll just turning out. Let's make a token about it. Yeah.

This is probably like a worst example ever. But yeah, it's like you have to fix the money first. Stop being so shy, damn it. It's us. Why are you nervous again? Is it that obvious? Come on. I want to keep real.

I'm just looking in the I'm looking in the I'm looking in the comments here. Somebody asking about the the trucker. Dude, I will talk to you as soon as I'm done this show, I promise.

All right. Sorry, yes. But yes, let's keep going. I'm going to give this a rotation and jump to Sean so that you can enlighten us on what has you feeling bullish this week what's going on yes sir I'm bullish uh nothing crazy it's just because bitcoin is a fixed supply i think that recently has kind of been blowing my mind again because right now you know like you have everything going on in the world and then you have this one thing that can't be moved

And I think that's just amazing how there's just one, it's a fixed supply. And we've never seen anything in the world before that has a fixed supply like that. And I think that's amazing because, you know, we have micro strategy continues to buy in. El Salvador, like the presence out there. And he's just, he's just tweeting, we bought the dip. We bought the dip again. And then it's like you have other countries that are real. what's going on. Other companies are starting to understand. And you have billionaires,

like the legendary Bill Miller, you know, who's a legendary investor. And he's also said, you know, he's 50% Bitcoin. And it's like how many more people, Paul Tudor Jones, all these people are starting to come in and it's a fixed supply asset. So, you know, when the demand grows, the only thing that can happen is price goes up. And it really doesn't matter, you know, know what's happened in the past. And I think that's what a lot, even us as Bitcoiners will look at like these cycles of 2013, 2017. And yeah,

they matter. But when you get, when you get to the point where it's almost like a tipping point, you know, where everything in the past doesn't matter because there's new people that are coming in, and they understand it and they're going to continue to buy it. They're not going to be afraid of it. You know,

you have like the third richest man in Mexico. Mexico who's a bit coiner. You have all these people just popping up out of nowhere who have a lot of money and influence. And then you have a ton of plebs who understand the truth. And that just kind of blows my mind about it being this fixed supply asset. And the only way thing that can happen is more people are going to buy. And I was talking to markets about this early today actually was like when there was one person who knew about Bitcoin when it's Satoshi. He could tell as many people as he could tell. And that was it. But then you get like, like 10 people who understood it, then they're telling everyone they know. Well, now you have like 100 million people or 200 million people who are starting to get it. And they're telling it.

And so it's just moving. It's the whole like gradually, just gradually and then suddenly. And that's what's part of what's going on is it's a fixed supply asset. Everyone's starting to understand more about it. You know, if you don't have like even Dave Portnoy was on air today and was like if you don't have Bitcoin in your portfolio, you're an idiot. It's like, Portnoy's got lettuce hands. So, yeah.

Did you see my response to him when he first tweeted that he bought a million dollars with a, I had to do the meme. I had to say, let us see how this all plays out. I was pretty happy about that. I hope he saw it. But yeah. Dude, you got to give Portnoye some props. though for like not giving a fuck and still come up. I mean,

how many people have, you know, have gone through something like this where you come into Bitcoin, you fuck up, you either buy some shit coins, you know, you lose some money, you get wrecked,

you get humbled, you know, you look at it again, you move away from it a little bit. Bitcoin just kicks you in the face because it doesn't care about you. Yeah. And then you're like, okay,

you know, like everybody's in this game. And I think that's something you're saying too, Sean. whether you like whether you like it or not bitcoin is here now it's scarce and now everybody is you know can either act or not act you know and yeah sooner or later this game theory will make you have to act you know so it's you can try to pretend it's not there but yeah yeah and you're not going to and people think like oh i can i can miss out on this and i'll be okay and it's like you're

not going to miss out on it, you're just going to own Bitcoin later on at a higher price. And you're eventually going to, everyone's going to own some and you're going to transact in it, you're going to use it. But you're not going to, unless you just die, you're not missing out on it. You're just going to use it. You're just going to own it at a much higher price. And a lot of people will own it before they even realize that they own it because there's going to be mutual funds and pensions that own Bitcoin.

and when's last time any fucking person even looked at the breakdown of what their pension owns? Nobody does. And so a lot of people currently probably own Bitcoin that don't know about it. They don't know it. Yes. Yeah. That's a crazy thought, though. Yeah.

Yeah. So there's probably some, I bet David here in the chat, I bet you, if he doesn't already at some point in the future, he's going to own Bitcoin as he's shit talking. Bitcoin on this show. Think about it. If you own, if you own an index fund that has Tesla in it or Square or micro strategy, you essentially own Bitcoin. Yeah. Indirectly.

That's, that's true. So, David, check your index funds. Dump whatever you don't like us. And let's not, to go even further on that, let's not forget the news that came out this week as well. or I don't know if it was really, yeah, I think it was news that the miners or at least some miners in Texas have agreed that they're going to deliver or are willing to shut down some of the mining to be able to stabilize the grid if the grid demands like peak energy. And this is like a massive narrative changer if you think about it because here you have an electrical grid, right, that has enough power on it for like normal loads. But then when there's like a peak demand coming in, there's, yeah, sorry.

No, go ahead, man. Keep dark. Yeah, so imagine you have this electrical grid that's, but when there's like peak demands, there's not enough capacity to provide. And you're going to have to cut off certain areas of, you know, and some people are going to be left without electricity. What can you do as a government or as local municipality? you can invest in extra capabilities, which is really expensive.

And then you're going to have all this excess capability that's not producing most of the time, only to stabilize your grid at those peak moments. Now, with Bitcoin miners, you actually have buyers for that excess energy you're producing. So you always have a buyer, which makes it profitable or at least economical to make that investment. And then when the grid demands that peak, you can just shut down some of those miners. And you have, so I can't even imagine what's that going to do with energy prices and for energy. You know, so it's. Yeah.

Yeah. So, David, I don't know if David has a response to that, you know. David, David Wong is becoming like the Peter Schiff to the show. Yeah. Yeah. Great. Well, we'll just take this one last comment from him, and then we can continue on. David Wong would like you to know that the government will never let Bitcoin get to an uncontrollable size.

If it gets any bigger, they will chop it down. It's in one trillion, dude. It's one trillion what are you talking about? We've heard that at like 500. Which government is the question? There's 195 countries. There's already one government who's used it as legal tender. yeah yeah exactly well that's fun that's okay thanks david thank you for your input i value

he hasn't done the work and so he just has done the work yet yeah he's doing the work right now he's he's getting responses so yeah it's okay we love him he's my he's my mascot every show uh awesome well let's keep it let's keep it rolling actually uh Marcus you were you were just chatting but we're going to continue with you. We'll get your reason for being bullish. My reason for being, yeah, it's not one reason. I also made some notes of like some recent news or what was going on. And I had, I had the Canada, you know, you already mentioned that. I had the mining in Texas, Bitcoin integrating into every layer of society. I like the idea of like, it kind of chimes into the Canada as well, like the whole silent majority thing.

and tipping points. I always like to still think about Bitcoin being, when you compare it to like the adoption of technology, you know, and the diffusion of new technologies or innovations or applications. Because it's not just like money printing and inflation. I mean, that's going on and having an impact on the price as well. But it's mostly still just like a new,

form of saving, a new form of transacting and everything. You know, Bitcoin is so much and so many things and so many different things to many people in different situations. But in all those things, it's still adopting because like David here, there's still a lot of people who don't really believe in it yet or we're really good at seeing fears. You know, we're always very careful because we don't want to get burnt. So you're always cautious. And which is a normal human trait to have. and it's healthy. But at some point, you know, it just becomes obvious that this thing,

if you see it what it is and you understand some money and the problem we have in society and yeah, how that idea and that's what, you know, like how many people see that and how many, it's not just people, it's also corporations. And then within people and corporations, how many value will you start assigning or transferring into Bitcoin is another adoption cycle in itself again. So yeah. Well, yeah, like think of how much misallocated capital there is right now. Like the trillions and trillions worth of negative yielding debt.

Like I was listening to, I think it was Greg Foss, Preston Pish. And who was on with them? Oh, they were on blue collar Bitcoin. And they were chatting about this. And, you know, like every. so like in in many instances but let's say you're getting one one point something percent on on on your on your bonds well if if the 7 percent inflation print is still there even if you're generous and you think that it's going to be too you know that you're you're maybe going to make 2 percent on on your bonds or something which is not what they're at

at all, you know, every year that's, you're guaranteed to lose 5% purchasing power. So in like, you know, 30 years, what's, what do you have left? You lost everything. He lost everything in that amount of time. Yeah, yeah, it's insane. Like, you, you cannot save that way. And that's what, like, there's so much money in bonds around the world that is, that is yielding negative and that's an insane thing like that's not a natural development that's not a

natural market that is a manipulated market it's it's unbelievable and it's it can't it can't continue forever i mean they can kick down the they can down the road a lot but now there's actually an alternative um that uh over time is is becoming more and more apparent to a lot of people and people that are like not just the weirdos that got into Bitcoin first, myself included and you know, all of you guys. But, you know, you're talking about Bill Miller. You're talking about Paul Thudor Jones. Bill Miller with 50% of his exposure is in Bitcoin.

You got fidelity dropping full, dropping full like 26 page papers on Bitcoin first. And this is our thesis. And, you know, it's pretty telling. that a lot of people whose job it is to preserve capital and purchasing power are starting to get it. So, super awesome. Shout out to Sam, Sam. He's donating for the dinner fund. Hey, there he is.

What's going on, Sam? Thank you very much. That's very kind of you. It's crazy. It's crazy you're talking about those negative yielding bonds. I think there's like, we're getting a little price pump here, guys. Sorry. we are, man. Of course we are.

What do you expect, man? Yellow, play the song. What do you expect? Come on. Believe. Oh, there he is. I was ready to do his why I'm bullies for Craig, but I guess he's

doing it now. Does he here this time though? Or did he just I don't know. He's just gracing us with his sexy avatar. His actor. If I may, until Craig speaks, also something that I was extremely bullish

because we had BTC mechanic yesterday on the podcast and Domer and BTC Granny. And we see more and more organic kind of communities forming like the ones in El Salvador, like all over the world, like small places where a few shops are accepting Bitcoin, they get orange-billed and like small communities being built. So I think we won't see actually a city that are being built, but we're going to see like a small town actually running on Bitcoin, right?

Like being Bitcoin world and those communities will grow. That's extremely bullies. like all over the world like Mexico, Guatemala, be hearing like communities all over the world like that. Yeah. Yeah, like little Bitcoin beaches or you have Bitcoin Lake Guatemala right now. It's got all these things. Those are the most exciting to me because I, you know,

I picture being, you know, being in one of those places and living. Because it rubs off on people, right? Like there's certain changes that happen to you, like in your personality and the way you think about the world and the way you think about life. Which it's again, to everybody that listens to this that isn't currently examining the lens of Bitcoin, it's difficult to understand that. And they think it sounds stupid to say that money changed the way you look at everything. but that's very much a true statement from a lot of people I know, myself included. And you start attacking things differently. You lower your time preference and you start taking on projects that may not bear fruit the first day

or the first hour that you're doing them, but you're actually looking out on, okay, if I chip away at this year after year, I will build something important to me, myself, my family, my children, my grandchildren, all that. kind of stuff. So it's a different brain. It gives a lot of meaning to life too, right? Because if you, if you feel like no matter what I do, I will always be poor, I can never get ahead of this inflation, then it takes a lot of meaning out of your life. But if you can, if you can make, okay, I can actually work in something that I want to work in, I can save my wealth and something that will never deplete, it doesn't go away,

and actually grows in the long term, then it puts more focus back in your life on what really matters too. When you have the best defense ever against inflation, you can plan and build on that for your future. And like even if you do your own thing around Bitcoin or you work for a Bitcoin company that they are very open of how you work or how freely you work, right? even those places don't get like adopted by the indigenous people 100%. In the end, we are going to move there.

We the Bitcoin areas, we're going to move there, right? Like we're going to choose a community in Guatemala or El Salvador or Mexico. And we're going to move there in the end. Like that's the goal and we're going to be working from there. Like it's going to be awesome. Yeah, I do want to visit. I got to visit Bitcoin Beach and

Bitcoin Lake. I met the guys from Bitcoin Lake and they were awesome. So those are some, I definitely got to... We were talking about this earlier. We're going to try to go in August Ben, so it would be cool if you could go in August. Yeah, I don't know if I will.

I will try. Yeah, in fact, you might try to make an appearance down there. We'll see. I saw Max and Stacey, just in a little photo up with Mr. President himself, you know, so. I did see that. I then, I then, uh, put myself in the photo afterwards and right. Everybody.

Yeah. Yeah. We got a little bit about photo editing skills. We'll get that. Yeah. Uh, I there, I got a, I got to pull it in. Um, just so you know, Bitcoin needs a 100% return from here just to get to the eyes again.

But it is very hard to go up that much again. Which highs? Which highs? No. Which highs, dude? Which highs? I've been this in 2013, which size you're talking about? It's interesting.

Interest rates, if you really think about where the interest rates at, like, why is the interest rate so low? Because it has to be that low. And if it get, and if interest rates get pushed up by the Fed, then it's not going to be like, okay, Bitcoin has acted like a risk on, but so that's what stocks are is risk on. And so if the Fed wants to see just like a total, a total deflationary collapse of the stock market, then they'll start to raise rates. But they don't want to do that because no one in politics wants to be the one who caused the biggest crash ever.

And so they can't raise rates because everything is the, on keeping the rates low, printing more money, and if you continue to do that, you can kick the can down the road long enough, and then you get out of office, and then it's someone else's problem. But, I mean, Bitcoin, it acts like a risk on an asset until it doesn't. It's just an uncorrelated asset. So if rates go up, Bitcoin could still go up. No one's saying that it has to go down if rates go up. I mean, what if the rates go up? And then Walmart says, we just bought $5 billion of Bitcoin, you know, like what happens to the Bitcoin price at that time? Or Mexico says we've made Bitcoin illegal tender while rates go up, you know, so it doesn't matter.

Yeah. David still believes that narrative from the mainstream media that rates are actually going to go up. Yeah. He probably still believes that Santa Claus is real, that the Easter Bunny is real. David probably says they're really going to do it. They said it. He says, we have high inflation. So the only way they have is to raise rates.

You're right. But if they raise rates, then they implode the bond market if they go up too high. And I think rather than imploding the global bond market and the stock market for that matter, because all the companies are valued at like 25x profits. And so, yeah, if they start to raise rates too much, all of that. explodes. So what's the, what's the easiest way to kick down? 30 trillion dollars in debt. And you want to raise the rates that you want to raise the. Yeah, yeah. Like what's the easier option here for them? If you're, if you're a central banker, do you raise rates to stop inflation,

even to the point where all other markets just implode? Or do you just try to say that you're going to do some stuff, maybe try to get through a hike, have it go poorly? And, and then kind of scale back or find fun ways to pretend that you're not easing, but you actually are, which they were using the reverse repo market a lot for that earlier. But they can change the language around that kind of stuff to make it seem like they're not doing it anymore, but they are going to continue creating new dollars into the system to hold up what's

going on. They cannot meaningfully enlist rate. There's a have two things. there's only two things I'm said in this life. One is where my keys are, right? And the other is that politicians, in the end, they just kick the can down the line. That's what they do.

Nothing else. Like they can say, they can do something else. But in the end, they just kick the can down the line. Yeah. Yeah. And in the 80s, they raised the rates. Paul Volker came in and raised the rates. but the global debt to GDP was a lot was way lower right right now with 30 trillion dollars of debt

it's mathematically you can't do it you mathematically can't do it unless you want a deflationary collapse of the whole financial system and so I think that's like the biggest thing is like when it comes down to a recession or or depression or inflation debasing the currency government will always choose debasing the currency 100% of the time. And so there's just going to be more inflation or they're going to change CPI and they're going to take out certain things out of the basket of CPI and they're going to say, oh, inflation's now 3% when, you know, all they've done is they just said, oh, we've taken out food, we've taken out gasoline now.

And now your inflation rate's 3% and people still believe it. Yeah. Yeah, exactly. Like this, if you go back, like on some of these other inflation prints where they've been saying, oh, we're at, you know, 7% or 5% or whatever, if you go back to when they started screwing with the CPI and changing, like, changing the metrics. So they did a couple of things. They allowed for the replacement of goods with like goods. So what that meant was, hey, okay, so inflation has gone up. And so because of that, people have stopped buying steak, and instead they buy ground beef.

Well, they're still eating. They're still getting meat. So we'll just count that. We'll replace the steak and the ribbyes that they used to buy. And we'll just say a pound of beef, no different. Yes. And now your cost of living hasn't changed as much. And so that was one of the things that they did.

And then they also allowed for adjustments for quality in goods. So let's say you had a phone, like a new iPhone, and then the next year, the next one was twice as fast. They account for that in the price of the phone. They said, well, this is twice as good because of these reasons. And so technically you're getting that phone for half price. But that's not actually taking into account what actually gets spent. If you want a new phone, you're paying twice as much. So they don't, but curiously, they don't account for decline in goods.

So when you get, when somebody swaps in ingredients in whatever, you know, whatever meal, like a frozen meal or something that you buy the supermarket, or when they sub in high fructose corn syrup instead of sugar, they don't account for a degradation in the quality of goods. So everything is gamed to to make inflation look as minimal as possible. And then they don't count things that are, you know, probably important. Like housing and fuel and education, none of that gets fucking measured in there. Yeah. I remember back in my day, back in my day, I used to get chips and it was full with actual chips inside. Like, you open the team back now, it's like four chips inside.

I'm like, fucking inflation. All air. Yeah. Yeah. Yeah, it's, it's, and I mean, I saw, what was the book? I think I got it here somewhere. It was, this book will save you time. And it's, oh, God, I'm just going to grab it here because it's, it's a good one.

What are you getting that book? It just made me think of your first example made me think of when they, when they say, like, oh, you normally buy steak and now you're buying ground beef, which is, you know, half the price. And so we're not going to change it, but they don't factor in. you're buying the ground beef, not because you like ground beef all of a sudden, but because you can't afford the steak. I think that's the point that they're missing in the CPI. Well, I think they're not missing it.

I think they're doing it on purpose because they need to print money and they need to make inflation seem like it's not as high as what it is. Yeah, exactly. And it's inflation, you know, to some extent, they've been able to kind of keep their official, you know, like manipulated number at around 2% for quite a long time. But in the meantime, these interest rates have been falling, falling, falling, going negative, basically all over the world.

So your real interest rate is just like massively negative. And now they can't lower rates anymore. And now inflation is really going to run hot. I mean, the official number, if the official number is already 7%, people are really going to feel this, you know, and they can't do anything about it anymore. It just feels like in the next two or three or four years, going to see that. Yeah, I can just totally see that Weimar situation, you know, where people are like,

wait a second, what's happening? Like, I thought it was living in Europe or I thought it was living in Canada or the U.S., you know. I didn't know I was living in Turkey on or in Lebanon, where in Argentina, where my currency is like degrading, just like the lira. What's going on here, you know? And then where do you already see? You're already saying, of course. You know, we're all going to hoard gold. obviously. You've already seen currencies around the world, but through hyperinflation. And so it's only a matter of time before it happens to the U.S. dollar.

Yeah. You'll have a canary in the coal line in Canada. So, you know, keep peeking up here. We'll probably let you know what's about to happen. I was going to say that book that I brought up, this book will save you time. It's by Massir Mamadov. And he, one of the things he's talking about shrinkflation. And so they did a study of like candy bars in the UK.

And over the course of, I think it was a, I think it was a decade, something like that. It might have been a little bit more. 15. I think it was only a decade, I swear. But so for instance, the price of a Snickers bar doubled and the size of the Snicker bar was almost in half. Same with like if you've ever seen the Toblorone bars, if you got one of those like years ago, they were like each little peak was was thick and like it was all the way through and now there's less peaks and they're thinner than they used to be so there's less and all the like next time you pick up a jar of peanut butter turn it upside down ever wonder why there's a huge fucking divot in the bottom because it's the same size of jar but it's less peanut butter and the best one the the uh the the cereal boxes is another one too because it's it's the yeah the the cereal boxes is another one too because it's

It's the same front facing thing and you don't put two and two together, but they can make boxes thinner over time. So there's all these deceptive. And like, I mean, look at fucking toilet paper rolls. 12, 12 equals 24 equals 36. And they have like, you know, exponents and all that shit in there. This is actually 8,700 rolls of toilet paper. It's so hard.

Trying like your chicken or your meat in the pan. And like all this water just comes out, right? It's like they injected with water to like add weight to it or something. It's just. Yeah. But it's interesting because there's people like David Wong, right, who believe that the government is here to serve him and the government's going to have his back. And the government won't let inflation run up, that they're more invested in him as a person than the companies and the bond market. And it's just not true.

The government is not worried about you as a person. They're not worried about what you have to pay for inflation. They're worried about making sure that they can get out of there and no one points the finger at them. And no one blames them for a huge deflationary collapse. And if there's inflation, then there would be inflation. And they do not care about us or me or any of us as people. They're not here to serve us. They're here to serve themselves.

Yeah. Mike dropped. Yeah. And in the end, we all know like a guy like David. it around us right like we all have a friend like that like they see everything about bitcoin being as a trade but like when i hear that it's like dude there's so much more about this whole thing right there's so much whole about this whole thing there's a whole journey you get in about the price but like you learn about economics about history about like i don't know philosophy everything

So you pick the details from here, there, and you create that puzzle that is Bitcoin and why it's so successful. And in the end, like, what aft man? Like, 69 is going to be the half you think, like, come on. Yeah. It has to double. Oh, wow. It has to double for 69. No.

Like, oh, I've never seen Bitcoin double in my lifetime. Wow. It was something to happen in a couple months span. Somebody interviewed me the other day and they were talking about volatility and everything. And they're like, well, it's almost half of what it was. I'm like, yeah, but you guys don't cover the fact that it was $4,000 two years ago. Yeah. And it was like, was it?

No way. Like that was like that's how this is the time frame. Like they, if Fiat, people that still live in a Fiat world don't know that there's even a button to zoom out because they're too focused on the then and now because that's all that their money allows them to do, right? Your conditions to think for the immediate future and maybe a little bit of planning, but it's so incredibly difficult to plan to retirement now. Like it's all just a big question mark. that's why there's so much gambling. That's why every person is like, oh, I got to fucking buy a bunch of NFTs and I got to go and I got to, you know, I got to jump in on buying AMC stock and GameStop. And I'm, yeah, I'm going to buy GameStop because I know

that everything's fucking digital. But I think these brick and mortar stores, I know that it's, people are just meming it into being worth more, which I guess is a perfect kind of metaphor for our entire financial system. They're just meming it into being valuable by creating fake numbers. It's people become the environment that they're in. And in an environment where central banks meme value into existence, that's what people are going to try and do with their take-home money. That's exactly what we're seeing.

Boom, another mic drove. What else you want? We're not going to put in front of Q. Why don't do you want? People go stuck now. We're not going to talk David Wong in to having a good time. We're not going to talk in. David wonky.

To keep in his money. We're not. He can do whatever he wants to do with his money. I like that. I'm hearing Jeff. I'm hearing Jeff Boots saying, no, we have to stay humble and we have to stay kind to these people because not everybody knows what you guys know. guy stay yeah i like but i mean david's been here for months now so like like i like i like

that yellow said everybody has a david because i think i'm gonna from now on if i have a friend or somebody that's that's like that i'm just gonna oh yeah he's a real david he's a real if he really is here for months then he sees something i think maybe yeah he sees something all this. Maybe he's doing this research and if he if he's doing that like go ahead ask questions and make us like so-called triggered man like we love it. Bring it on. Trial by fire. Then after you kind of get through the ringer of being insulted on live YouTube streams by a bunch of Bitcoiners, then you can really get trial by fire by joining Bitcoin Twitter. He would not last.

He'll do all the learning here. And then when he gets, then all of a sudden there's going to be some like glorious new Bitcoin David Maxi that drops onto Bitcoin Twitter one day. And he'll be elevated to a space of like safe or something. It'll just be David in the background having learned all his Bitcoin lessons here. So like I sometimes try to figure out like how many Bitcoin. are there now?

If you look at like Bitcoin magazine, I think they just hit like 2 million followers. If you look at like an account like Plan B is also around 2 million. So I figure, okay, so we have 2 million at least, you know, people who are at least interested. But that's just Twitter. I know like if you look at like Twitter usage, I think like in the Western world just about roughly between 10 and 20% of people will

use Twitter. So there is like, you know, maybe you have to do it times five. So there might be like, what is that? like 10 to 20 million people in the world that are that have Bitcoin now, roughly. So it's still such a small number, right? And it's already grown and it's like doubling probably every two years or every year or something. I mean, we're going completely viral even though we're still small. So we constantly have this endless stream of David's coming in.

Yeah. The world is David until they're not. They're just going to keep coming and coming. And, like, Ben, you've been doing this for a long time. Like, how do you, like, do you ever get, like, tired? Well, I mean, I honestly like. What is your, maybe in your audience? Like, what is it?

Yeah. It's, no, it's, it's tough. Like, there's, there's always going to be somebody, I mean, in person, it's a lot easier, right? When somebody's like, I, yeah, I don't like it because of this. And it's very easy to be like, oh, that's not actually how it works, you know, I'll, you know, explain it to you. But, yeah. And then when you couple that with, I found if somebody's asking me about it or they say something about it and then I say, that's not actually how it works.

But then I don't follow it up with you should buy some. Then they're kind of like, well, tell me more about how it works. And so, I mean, everybody that I know in person in my life knows exactly what I do for a living. But I don't like, I no longer need to go and be like, oh, this is cool. you've got to look at this because the people that are curious will come and ask me and then I'm super happy to sit down with them at any point to talk about and teach them whatever they need and then those are the people that know you yeah yeah and so at the same time when people come in new they literally like what Jeff Boots says they don't know everything you know

So to hit them up with like, Bitcoin is inevitable. It's kind of a leap, right? Yeah, yeah, exactly. You got to be, you know, I, if people ask me what I think, like where I think it'll go or what I think it could do, then, you know, I give them the honest answers. Well, the first thing that I see is initially, partially store of value. So it's going to start taking a chunk of gold that already has, you know, for admittance markets. but then if we get down that that rabbit hole I start talking about well how does it make sense

that people are investing in things like bonds when it guarantees that you lose you it loses you money and they're only doing that because the money doesn't hold value so you know I you know I can kind of discuss a bit of that but even that it gets too far down the rabbit hole for them like when you talk about misallocated capital they're like what in the fuck are you talking about so it's just Just say like even if it takes this percent of gold, it's going to be a lot higher than it is now. And I think it's a better, it's better than gold. And then I can explain why I think that. That's a good hopping off point.

Yeah, getting people to understand the bond market is extremely hard. I think that it's trying to like break that down in a digestible way and be like, yeah, and that's also like $300 plus trillion dollars. So it's 300 from here. I think that's hard. The funny thing is nobody gives a fuck about numbers anymore. No. Trillion is a regular number in our vernacular now.

That's insane. It is. Like, people were losing their minds about hundreds of billions. In 08. In 08. And now it's like, they throw around trillion regularly. And nobody, like, people are like, oh, it's a little steep. Like, if it's three trillion, I don't know.

But maybe we could pair that back to like one point five. Like, that is the discussion of, like, how many trillions is too many trillions? Yeah. And it becomes so normal now that you can see it even in the so-called crypto market, like all those guys trading sitcoins to sit-coin. Like, they don't value the prices, right? They don't value the numbers because they are bred and, like, raised in a world that those numbers mean nothing.

There's like a big shift going on right now with via Bitcoiners. Like Fiat world is getting intensely more Fiat where people all they care about is like if they're trading some alts or whatever, all they think about is just flipping it, rug pulling, getting out of there and making money at any cost. Like I have some friends that I know that they're into these alt coins and all that stuff. And it's great.

They'll post these, you know, these screenshots of their alt coin going. up to the moon or whatever. And then I'm just here just like Bitcoin, Bitcoin. One Bitcoin is one Bitcoin forever. Like don't worry about all this Fiat. It's not about making money at any cost. And I think that there's a shift that's happening where more people are going to understand

that and it resonates with people that it's not just about making money at any cost. It's about having values, integrity, having like what are your morals? How are you making the money that you're making? And I think that more and more people are going to see that there's these people that are just flipping money and they're doing it and they're just kind of slimy. And then you're going to have these bitcoins who are making, yeah, we're partying, we're celebrating, whatever. But we also are trying to stick to certain morals. We have some type of integrity along the way. Yeah.

I think it's all it all goes down to that old esopos like fairy tale like with the rabbit and the and the turtle man like sit going in Bitcoin. Yeah, that's true. Rabbit in the hair or the hair and the tortoise. It's it's going to be. I know it's frustrating for new bitcoins in their first year when when they get into the like the people that, especially people this year that have. this is one of the first years that I've really noticed in the past calendar year, we'll say, people coming into Bitcoin that very quickly or almost immediately go to Bitcoin only. And that's kind of a relatively new thing that, you know, you haven't seen that a lot. But I think it speaks to the quality of like thoughtful material that's put out there to better explain Bitcoin and the difference between Bitcoin and everything else.

but I think that it can be frustrating coming in getting that, watching a bunch of people that you know be richer than you for a period of time. But just know that how this plays out in a lot of instances, from what I've seen is first you feel like a bit of an idiot for not diving into all this bullshit on the side. But then a bear market hits. and you have a lot of conviction in what you own. And the person that doesn't have,

that has all these other shit coins, one of two things will happen. They will also have a lot of conviction in what they own and then they'll hold it to have it never come back. Or two, they'll have zero conviction because they've just been buying it based on price signals and they'll sell it at a massive loss. Then it'll come around again to the next cycle.

And again, you may still have idiot friends that are buying all the shit coins. And again, once again, temporarily, they will seem on paper richer than you, possibly. But eventually, that is no longer true because they start going through money more and more and more. And a lot of what they're holding is not going to retain any value. And they're going to end up with way less Bitcoin than you. So stay the call. And whoever is listening, we're not just talking. Like these things are happening every day. Like the other day, 320 million from Ethereum and Solana got stolen.

320 million. Like Solana is working and not working every other day. Like even if those projects survive the next cycle, until you reach that, the probability of you losing your money in a smart contract or a weeby-wabby kind of silly thing going on, right? Like, it's way up. So why would I bet all my money, all my value, all my sweat to that casino?

Like, go stuck Bitcoin. It's a short thing. I really don't get it. But yellow, Avery would like to wonder, what do you think of Cordano? Now, Cordano is another.

Cordano is the only project that comes to many colors. don't buy no don't buy don't buy I'm joking Solamo did you see that that Ethereum that hack

there's a VC company called Jump Capital that they paid back the $300 million in ETH that got hacked and so they basically bailed out like ETH slash salami

got hacked and then jump capital as VC came in and bailed them out because I think they were backing a lot of the whole it's just a whole other thing you don't have to worry about but it's just Fiat at another level these bail like there's no creative destruction companies have it right there's another there's another one that happened lately so they want the so-called Wonderland project where merge diverge they fought each other and the end the main dev like made a tweet that basically said i'm taking control of this tao yes it's only going to be controlled by me because i want to like stop the drama so basically the guy said i'm controlling this dow right to fix it so it's a decentralized

autonomous organization and he's in the same download it in his PC and he's fixing it right and it's a whole doubt right yeah it's like I want to roll back some network it's just the words

words have no more meaning right like decentralized doesn't mean decentralized to these people freedom is anti-facts now for some reason it's like there's no meaning to any words and that's what I really like about Bitcoin is Bitcoin brings back truth

and there's meaning behind certain words. There's meaning to things. That's what's really good about it. Yeah. Yeah. Oh, look, David Wong, Solana is only $34 billion market cap right now. It can go up a few hundred percent from here.

Oh, David. Oh, David. Yeah. Go buy. Go buy it. He's just like, go on the budget price right now. The best part about that, so the Solano thing, the bailout, it's a perfect example of what it is. It's a VC-backed shit coin.

And somebody bailing out a massive hack of $325 million doesn't fix the fact that the fucking thing's broken and continues to break all the time. No amount of VC money in the world is going to fix that and stop it from being a centralized shit coin. That's what it is. And not only that it's breaking when it is run like in at least like 10 nodes or something. Like it only runs in 10 nodes or something silly like that. And it's breaking down and they cannot fix it. Yeah, yeah. It's like a zombie company.

The only way that zombie company still exists is because they have access to the money printer. They can get bailed out and they can keep pushing along because they keep getting bailed out. Same thing with it. Yeah, it's just another VC. It's just VC repackaged with blockchain. And that's what every alt coin is. And one day they're all just going to go to zero to Bitcoin. I wonder how far into hyperinflation will get when people are still valuing things in dollars

and not understanding why the shit coin that they're holding is going so much up in dollars. but they can't get as much with it. Like I wonder at what point people's mental models of pricing in dollars just break and go, oh shit, I've been pricing in the wrong currency. This is not a sound currency. Oh my God.

I've been measuring gains that are actually losses. I had some other guy asked me on Twitter the other day. What are you going to do when you need to switch some of your Bitcoin into dollars and nobody wants to buy it from you? And I was there thinking like, yeah, what are you going to do when you realize that nobody wants your dollars anymore? Yeah. Right now, there's still in that safe majority, right, where everybody's still denominating everything in fiat and dollars or in euros. But there's this growing group of people that just don't want dollars anymore. We've already done a bank run, you know, we've taken our fiat out.

We put it into Bitcoin and we're trying to accumulate more. We don't want no more fiat. And there's going to be this tipping. point somewhere between you know like between 20 or 40% when people are going to realize holy shit you know like I got to get some of this bitcoin because people don't want dollars anymore yeah and then it might just be too late you know we're going to see crazy stuff yeah well gentlemen I've got a little bit of time left I think what I'd like to do is maybe just do a quick round of any final thoughts but I'm also going to give you a challenge this week I'm going to

going to give you a challenge to to recommend a piece of content or a book or a video or you know, an article, something that you've seen recently that you really, or listened to recently that you really enjoy it and that you would like to share anything people should take a look at. But before, just to give you a moment of thing, before we do that, I'm going to bring it up once more because there's been some clubs that have been taught. some sats our way. So thank you, plebs, that have been watching the show and dropping some sats. We're at 88.6 million sats in the Bitcoin for truckers. 80. 89. It just went up. Hold on. Let's refresh here. 89 million sats. And we can see them streaming in. So GoFundMe. It can go fuck itself.

Awesome. Go fund me instead. So also when I turned off my camera, I was just resetting the node. it got a little overwhelmed. But lightning is now working through. Thanks for stepping up and fighting to end the mandates and inspiring the world to do the same opt-out of their system by Bitcoin. That obviously directed towards the truckers. There's been a bunch for a good time.

Uh-oh. Bitcoin A, every sack counts. That's from Mr. Bitcoin. And, yeah, keep on trucking Hong Kong. Thanks, Christopher Scott. There's a bunch of them. Hong Kong from Germany. Hong Kong from Sweden.

I've been seeing them from all over the place too. I've been seeing from like France and Italy and South America, like Brazil. I've seen it from all over. So yeah, thanks everybody that's been helpful with this. So if you want to find this again, it's over just on Twitter. Find Hong Kong hoddle. And there's a pinned tweet right at the top that links to our tally coin page. While I'm live, I may as well.

I'm just going to do one right now. So I've just got a wallet open on my phone. I'll just do like a, I'll send over like 20 bucks here, we'll say. Okay. So I pick my amount. It figures out the number of sats that I need. I choose lightning. It's going to generate an invoice for me.

I can scan it on my phone right now. Hit pay. By the way, don't refresh the page in the middle of paying because that's when it might not notice the payment go through. So just so you know, we've noticed that issue recently. So anyways, that is being sent off and it should pop up here momentarily. But in the meantime, let's get to our closing thoughts and go down the line.

So Yellow, do you have any final thoughts for today? Anything that you wanted to say? And anything you wanted to recommend? thanks for having us having us again ben just want to say that and like don't don't don't watch the prize that much like it's noise go stuck daily weekly whatever however you do it that's the goal it's a marathon it's not a sprint and I would suggest like lately whenever I have a little time I just go to Bitcoin

Audible I don't know it's a huge rabbit hole man like I'm the latest one I did

listen was the Jeff what was it I don't remember Jeff Booth that sounds probably

Jeff Booth just look up anything Jeff Booth awesome Sean how are you yeah thanks

thanks again Ben for having us on it's always a pleasure and the chat is awesome. To the chat. I would say the thing that I just listened to and read as well was Greg Fosses. It was why every fixed income investor should consider Bitcoin, parts one through four.

And Guy Swan actually read that on Bitcoin Audible. He split up in two parts. So that was, that's probably one of the best things that I've listened to and read down the rabbit hole. I really enjoyed it. And it just kind of opens up your mind to what's going on in the financial system even more. So take a listen to that and keep listening to Ben, of course. And thanks again for having us. Yeah, thanks, man.

And Marcus, you're up. Final thoughts and anything to recommend. Yeah, thanks so much, Ben. Always super awesome to be here. Sometimes I said, you know, like meme it into reality because when I came in on Bitcoin Twitter, I made an account because I just. wanted to be able to ask questions and not look like an idiot. But asking enough questions and you start to hang out with people.

And before you know, you're here talking with Ben on the BTC session. So anybody that's listening, I would recommend everybody to start making some kind of content, whether it's like what's Ben doing or whether you're going to make memes or like the crypto couple where they make plays or write an article like Gigi or, you know, do it make music or or whatever, but, you know, we're all here on Twitter and, you know, you can even, like, pull in, like, information from different websites and just share it with somebody on Twitter. It's everybody, the hive mind, you know, everybody doing their little worker and things and adding a little bit to the network add so much value in when you put it all together.

So that would be my final plea to everybody, like, just do a little extra, you know, it goes a long way. Awesome. I'm going to give a recommendation as well here. If you haven't read it already, he actually just got interviewed by Peter, by Pedro, McCormick. But hold on, got it right here. Eric Yakes, the seventh property. I met this guy in Miami for Bitcoin 2021. He just came up to me and he was like, yo, I wrote a book about Bitcoin and I would like you to read it.

I opened up Amazon on the spot and bought it and read it. And it was fucking awesome. It's very, very good. It talks about the properties of money and how Bitcoin brings the much needed seventh property of money. It's the first one to do it. And so he goes through the history of money. And then he goes through the Bitcoin and actually how it works and everything.

And he does an incredible job of it. I would say this is. on par with the Bitcoin standard. And it goes more technical into Bitcoin and how it works. So I highly recommend it. And it also like in the history of money stuff, he picks out different things than Safe did. So it's very, very.

And he also goes into much greater detail into how the current financial system works. So highly recommend the seventh property Bitcoin and the, monetary revolution by Eric Yeeks, and he's going to be on what Bitcoin did pretty soon. So probably worth a listen there. I would add a little bit if it's your things, your thing kind of thing. Like, go read a little bit of Heraclitus. Like there's also a boot called Heraclitus, the Dark Poet. Like that guy was a bitconer before Bitcoin.

Like there's something to that guy and he's all, I can think of the word. mentality, I guess, the dualism and all thing that it's so Bitcoin. And also, I guess, because Craig is not here, Craig would recommend something, go and watch

the Bon Appetit YouTube channel, how to cook a potato 633 methods, like, or something like that. There's so many ways to cook a potato, and Most people know baked and fried, but that's not so many things. Salted, unsalted.

Yeah, man, go do that. Add some sour cream and sprinkle it with cheese. Yeah. And David, David, join us, man. It's just a lot more fun on this side, I'll tell you. David's going to start watching meme factory now, isn't he? Yeah. He's on all over the Bitcoin magazine streams now, too, I've heard.

People are like, oh, David is, but David, I do hope you stay here as well. I know, was I your first? I hope I was your first. I'll be offended if I wasn't. But I heard that he's over there. He's seeing other people from time to time. I don't mind as long as you come on home, all right? BDS, Bitcoin derangement syndrome.

It's a real thing. Don't fall victim to it. It is. And then David's final thoughts, how about the tulip mania? Thank you, David. I love seeing you. So we're going to wrap up here. Again, thank you, everybody on the panel.

Guys, I love having you here. I also loved all of Greg's contributions here. Yeah. Don't forget the meme factory. We do have a podcast now. Yes, we'll let people know where to find it. Every Thursday, 7.30 p.m. Eastern and right here on YouTube. So just type in the Mean Factory podcast.

And then we also release them the next day on YouTube or on Apple and Spotify. So if I'm going to stay here, stick and watch Ben. But come on over to our show everyone's allowed to. Shout out to all the memers and sit posters and sat out to. Labra. I hope he's back very soon, free Labra. I want to say thank you to my mom.

There is. There is. There is. There is. He'll be back. Yeah. Awesome. Well, gentlemen, thank you very much. You are welcome back any time and have a wonderful Friday evening. All right.

Thanks for a last, man. I'll always say, quick by after we go offline here as well, but I'm going to do my outro. So I'll see you guys in a minute if you're still around. All right. Everybody, thank you for watching. Again, hope you are having a good start to your Friday night, if it is nighttime where you are. Yeah, very exciting week, a lot of fun. Again, I've got to give a shout out to everybody that's helping with, sharing, contributing to that fundraiser that's up there on Talleycoin. The lightning should be working now, a quick note reset, and that was all good to go. On chain is always working.

And yeah, it means a lot. It's been a lot of support. I was super worried about, again, kind of having my face in and around it for worry of, you know, friends, people that I know, even just kind of causing tension there. But, you know, I think there's some good people in Ottawa. And I also agree. It's time to go back. to normal. So, there we go. But I'll leave it there.

Thank you guys very much. As always, like, subscribe, share, all those things. Super, super important. They really do help the show. You can help the show in another way. You can hit up the previously mentioned sponsors down below. Shake, pay, lead, and bit refill, Keystone, Bill Fottle.

All of them are down there. All of the Twitter handles for everyone that was on the show, including Greg are down below too. And if you really like, to what you saw, you can always, I was going to say you could hit up my strike page, but no, rather than do that, just head over to the tally coin page and drop whatever you like in there, drop some sats. If you see fit, you can find it again through at honk, honk hoddle on Twitter, and there's a pin tweet up top that will lead you to that page, and it will show that

it's from us. So yeah, that is it. Have yourselves a wonderful day or evening. wherever you may be. I'll see you guys next time for your daily session.