TFTC: A Bitcoin Podcast - Tales from the Crypt #107: American Hodl

Episode Date: October 11, 2019

Join Marty and Matt as they sit down with American Hodl to wax poetic about everything. Shoutout to this week's sponsors, Cash App. Cash App. Head over to the App Store or Google Play Store, download cash.app and start #stackingsats today. Use the promo code: "stackingsats" to receive $5 and contribute $5 to OWLS Lacrosse you download the app. Casa. Use promo code “TFTC” to get up to $250 off your Casa membership … or hit their team up [e-mail] for a free demo, or to put them to the test with your hardest OpSec questions! Subscribe to our YouTube channel: https://www.youtube.com/channel/UCtdbWsnfA08KhSUO4amVLaQ?view_as=subscriber Contribute to the show: https://tftc.io/contribute/

well hey there freaks it's your boy marty here from myrtle beach on a beautiful morning in myrtle beach has some great air flowing through a sun porch right now i'm here to introduce this week's episode with american hobble matt o'dell and i sat down with american hobble earlier this week we got blindingly drunk and talked about bitcoin and a bunch of other stuff i think you freaks are really going to love it and you're going to have the urge to go find some big titty bitches after this episode of fails from the crypt was brought to you by the cash app you freaks already know all about them if you listen to this podcast if you live in america and you have not downloaded the cash app yet and you're looking to buy bitcoin what the fuck are you waiting for

cash app is the number one finance app in the app store for the last two years and then the only p2p payments app letting you buy bitcoin right now all right so if you're looking to stack sats download the cash app use the code stacking sats that's one word s-t-a-c-k-i-n-g s-a-t-s you're gonna get five dollars five dollars gonna get alice lacrosse in chicago and then you're going to be able to stack sats all right so you can buy bitcoin sell bitcoin send it from your wallet or excuse me send it from your cash app to a personal wallet or from a personal wallet to the cash app top of that you're going to get their boost program uh which gives you a personalized debit card that is accepted anywhere visa is accepted and they

have partner merchants that allow you to save when you use the boost boost card when you spend it at their locations so use the code stacking sats get your five dollars send five dollars to owls and then start stacking stats with the cash app this episode is also brought to you by casa i don't know if you freak salt earlier this week but casa dropped the casa node 2 it's a hot piece of hardware built on raspberry pi 4 it's got a one terabyte ssd four gigabytes of ram and they partnered with btc pay server for this as well so there's a btc pay server integration casa is leveling up and on top of that if you want to engage in a multi-signature with kasa or excuse me a multi-sig setup with kasa go check them out at keys.kasa

slash keymaster and use the code tftc you're gonna get up to 250 off your kasa memberships these guys have membership tiers for multi-sig solutions for all types of all types of situations for your personal stash for your business stash no kyc no all coins you have 100% of control of coins at all time and they have very impeccably designed apps that make the experience very good they have the sats app which has you check in with your node and you can get sats back by interacting with that app if you want to throw your hardest opsec questions at casa before you engage with their service email them at membership at team.casa and throw them your hardest opsec questions they'll also walk you through a demo if you want to they're nice they're nice people they don't

bite reach out if you're curious just reach out you can do it use the code tftc you're gonna get up to 250 off um check out casa check out cash app and enjoy this episode i'm sorry i got so drunk i know i started rambling towards the end when you get the good whiskey in front of uncle marty and he hasn't eaten much all day uh he tends to get a little drunk enjoy freaks Tales from the Crypt. What is up, freaks? Welcome back to Tales from the Crypt. It's your boy Marty Bent here on a Monday night drinking a very good whiskey.

We got the wheat. Excuse me, grabbing the bottle right now. The Heritage Cast Club Distillers Reserve Small Batch 100% Wheat Whiskey from our friend Matt Case. Very rare bottle for a very rare occasion, for a very special occasion. Sitting, I got the beautiful Matt Adele across from me. Matt, how are we? What's up, freaks? happy monday night happy monday we got the very special guest american huddle in the house

american huddle hello everybody welcome pleased to be here gentlemen thanks for traveling how was your flight it was nice actually i flew first class high time preference you know boss what was this high time preference uh experience like was it worth it well listen i'm a i'm tall so like i fucking need first class in my life okay it's one of life's little luxuries like i'm not gonna be crammed in the back first humble break starting off strong starting off real strong uh good good cross-country flight you're here quick we're at 24 hours i am honored flattered even that yeah we are here drinking whiskey right now and you have ripped this trip i told you guys before this podcast like you guys are my first in real life bitcoiners okay

so my cherry has been popped by the tftc boys i hope it's not disappointing you know i feel a little violated but in a good way it's an honor yeah we don't bite it's a light touch but uh yeah let's talk about how the hell did you get here this is tales from the crypt what is your tale you have popped up on twitter uh created incredible stir incredible memes 6.15 bitcoin roll after 6.15 for the for the futures of big titty bitches and eternal riches how did you get to a point where you were memeing this random amount of bitcoin into the into the mainstream it's not random there's a you know a lot of people don't know this but me and plan b actually share an econometrics team and when they're not working on s2f they work on the big titty model for me

so it's not random i'm offended you said that but the way i got into bitcoin was like like a lot of people i tried to buy drugs on the silk road specifically dmt because i wanted to see space aliens and i was listening to a lot of joe rogan at the time back when the joe rogan show was like dangerous and insane now it's become a little it's become a little corporatized and commoditized you know i think he's had a few good episodes recently i've been diving back into joe i was a hardcore joe uh listener in like 2011 to 2014 me too and uh it definitely has strayed but i think more recently he's gotten back to old joe i don't know when i heard bernie sanders come on and he didn't ask any questions i didn't ask i didn't i didn't watch the bernie yeah it was bad it was

bad i was just like but anyway talking about the black keys episode that's one in particular that stuck out to me that was a good episode also well i actually i first heard about bitcoin on from duncan trussell uh well-known comedian who used to go on the the joe rogan podcast all the time he has the best drunk history ever uh nicola tesla yeah it's the greatest one it's one of the original ones too and uh you know it's funny i was telling the story to hot on that on twitter and he came in and he was like oh dude you found out about bitcoin for me like i have emails from people wanting to give me bitcoin in 2012 and they fucking burn like fire because i didn't set up the wallet and accept any of them and so he was like out there proselytizing but you know he didn't

even buy any himself or anything so i found out about that i found out that silk road i was like i want to score drugs then i was like i can't send drugs to myself through the mail my father was an attorney and so i was i was just hearing his voice in the back of my head being like are you fucking retarded like don't send drugs to yourself through the mail because there's this old story about Gilligan from Gilligan's Island I don't know if you guys know this but he was sending Marianne weed through the mail so the chick that played Marianne he was sending her like copious amounts of pot and he got super duper busted so the whole time I'm thinking about the story in my head so I bail on it I don't go through with it like 12 months later my buddy

comes to me at the bar and he's like dude fucking bitcoin hit $1,200 like we could have been multi-millionaires I remember just staring at my beer all night like just sad like the music from the incredible hulk plays and i'm just like what could have been you know so then like 18 months after that or so i walk out of a casino with five grand from playing blackjack and i'm like now's the time because i i felt like gambling still right and i was like what seems like a stupid gamble bitcoin and so that popped in my head and i was like i'm just gonna sink all this five grand into bitcoin i bought like 23 bitcoins or something at the time with it and uh so are you a big gambler like do you i used to be a much bigger gambler you know before bitcoin honestly because bitcoin like

lowered my time preference where i was like that's stupid although i did i was just at the casino like a few days ago i won another five grand so well it is interesting that's one um uh subsect of bitcoiners that always fascinates me is particularly within gambling the poker crew that comes to find bitcoin and become obsessed with bitcoin it seems well because in gambling you have to manage your bankroll right and so you learn that through gambling and you have to experience extreme volatility so when you sit at the table like especially when you sit at blackjack table the volatility is just fucking off the charts man like i had a buddy uh same buddy who came up to me and told me bitcoin was at 1200 bucks and he was he had lost like 13 000 that

he didn't have you know had cash advanced his credit card all this shit really bad situation he had 200 left he went to the table with it and turned that 221 000 and like fully came back like not only was he not down he was up like 10 grand or whatever you know in the black by eight or something like that yeah yeah and so you learn you learn to stomach this volatility and you become emotionally dead inside to it and i think that's what gambling does teach you like that's the benefit of gambling but it would be a crime to say like i was a good gambler i was just like so so at best well this is one thing that fascinates like how early did you get into gambling because i am somebody who never caught the gambling bug and i was actually thinking about

this more recently because i had my 10-year high school reunion and i met up with uh some old classmates and i was reminded that in my senior lunch table a couple of kids at my lunch table ran a book and i remember how stressed out they were running a book when we were like 17 wow 16 it was i mean it wasn't like it was high school kids like yeah 20 bets and stuff like that but i only ever put one bet that like the eagles would cover against the patriots i think my senior year of high school I won but never got into it like what the worst thing that happened to me happened with gambling like I went to the casino on my 21st birthday and I did a 14 parlay I can't remember what the teams were or whatever and then like the Ravens barely covered and I won like

1500 bucks and I was like clearly I'm a genius like clearly I'm the world's best gambler and then I was chasing that dragon which is what happens to a lot of gamblers you know yeah and gambling will like quietly ruin you worse than drugs will you know that's what like even when I work and work at barstool sports i mean that's like a degenerate gambler gamblers paradise that's all they do all day they really pivoted hard towards gambling and i was sitting there i was like i don't know how you idiots just not i'm not calling them idiots but i don't know how like people can just throw thousands of dollars at football games every night and be okay with that you know it's very similar to lifestyle inflation creep too like where you used to get

happy driving like a honda fit or whatever and then you need a fucking mercedes you need to pull in a Mercedes to feel good about yourself you at first gambling fifty dollars a hand seems like a lot of money and then you're just dead inside to that that's like peanuts it's nothing and then you need to gamble thousand dollars a hand it's like drugs right same thing yeah yeah so that that creep that inflation that comes up uh that's what ruins people and like drugs like you can get down the reason gambling is worse than drugs is because with drugs you can just get down to rock bottom and that's it with gambling you can go below rock bottom like you can get in serious debt bankrupt your family bankrupt other people like do identity fraud on them you know all sorts

of shit yeah yeah if you have a gambling problem call 1-800 what is it gambling gamblers anonymous like google that number and call it yeah there you go i bitcoin kind of ruined gambling for me because like bitcoin is just so crazy oh yeah the price action 100 and it's like to sit at a blackjack table for like five hours just really isn't but it uh but it is funny to me anymore but it is funny like how addicting it is and how volatile it is the i guess the uh the gratification like the potential for delayed gratification exist in bitcoin where i would argue it does not exist in it's not as guaranteed in gambling right like what is zero percent guaranteed like you're gonna lose your money and do like a long i guess like equivalent thing would

be like a long-term sports bet right like you pick somebody to win the season maybe or something like that four seasons in the future yeah if it was possible no one has that line yeah that's what it would be like right yeah i don't even you know maybe i'm crazy but i don't even feel like bitcoin is gambling like it just feels like a sure thing to me and i know that like we're supposed to think adversarially and like you know that anything could fuck this whole experiment up but like it feels super fucking inevitable to me then again i'm not as smart as some of the people that come on here like eric bosco or you know whoever else that have issues with what might occur in the future well you'd be surprised that uh i wouldn't discount your your own ability to be smarter than

some people that you deem smart that was that's what i learned when i worked in finance it was like all these people i held on the pedestal like oh my god here's the chief investment officer of so-and-so hedge fund i mean meeting with them you sit down you talk to them for two hours you're like ah dude wasn't as like didn't blow me away as much as just a person just a person exactly Did you ever see Margin Call? You ever see that movie? Kevin Spacey. You ever see that one?

Jeremy Irons comes in and he's like the big swinging dick, you know, and like, it's like a Lehman Brothers type firm and everybody's going under. And he goes, why do you think I sit in this big chair? You think it's because I'm smart? I'm not smart. I'm only here because I know when the music is going to stop. And right now it sounds like it's about to stop. Yeah.

So let's dive into this. Like, what makes you so confident in Bitcoin? Like, what do you see? What drives your confidence? You know, honestly, it's other Bitcoiners that make me so confident in Bitcoin. and like and we're all of a similar age we're all of a similar uh generation and you know i i meet a lot of other people um in our generation that are not very high conviction they don't they seem to be lost they don't know what they're aiming at like i have friends that this is like a west coast

thing but they just go to disneyland all the time and like they're adult people like stop fucking going to disneyland like you have no reason to be there like kids or anything they just they just go i have a buddy who has a kid he leaves his kid at home and goes to disneyland on his own like Stop being a perpetual Peter Pan, you little fuck. What? I want to strangle this guy. That's a weird hobby to have as an adult, too. Poor kid that got left home.

Yeah. Dude, this is a serious West Coast thing, yeah. Well, West Coast thing, millennial thing, if you will, like the Peter Pan never grow up. Right, totally. Is that a thing? Does that exist? Does our generation live in our parents' basement? Does it have this drive to never grow up?

Totally. Is that a situation that's been forced upon us or is it laziness? Well, we're complicit and we're responsible. And if you don't want to view yourself as complicit and responsible, then that's on you, you know, because Bitcoin exists. It's right here. Like fucking stack some sats. Like, you know, you can take control of your life right now. You can take control of your monetary sovereignty right now.

Well, in your mind, how does Bitcoin let you do that? Like what is stacking sats? We're getting so deconstructive here. I like it. Yeah, let's rip it. It's a Monday night. We got the pen out. We've got the whiskey up.

Let's see. How does it let you do it? Well, just like every single transaction you make across the network, like when you first start making them, they're really scary because you're like, if I send this money to some cyber criminal, like I'm never going to see it again. But then every time you, you know, transact or like make a transaction, people say you're not allowed to make

or make a transaction across borders seamlessly. You just feel, I feel powerful. Maybe it sounds cheesy to say that, but I feel really powerful when I do that, you know. I don't think it's cheesy at all. And that's one thing we've been talking about a lot more since we've been experimenting, particularly more in Lightning, is that we've been making a lot more transactions than we have in the past. I was scared to send transactions only about a few months ago, but I feel more comfortable now. Lightning just inherently feels more comfortable, right?

Yeah. It's actually been, I don't know if I said this on the podcast yet, but through the merch sales, it's been interesting to see, number one, the amount of people willing to pay in Bitcoin, which actually shouldn't be interesting. um but the first the first round we probably had like 10 of sales paid in bitcoin this round of merch it's probably like 15 to 20 and of that i would say 80 is via lightning like big 30 to 40 dollar transactions i'm gonna pay with bitcoin i'd rather pay with lightning yeah unless it was like over a hundred dollars no but it's been uh it's been crazy to see just observationally watching people interact with the store as they would without me pushing them in any direction just using lightning for like again 30 to 40 40 transactions pretty big for lightning yeah that's

what i expect yeah and then it works seamlessly it seems like that's the thing with our btc pay server dj set it up it's running we've had to upgrade a couple times but it's been pretty much flawlessly running in the background unabated without having to update anything which is good to see it's always tricky with lightning too because like you don't want to get ahead of yourself right we don't want to fall into the trap that everybody fell into in like 2013 2014 where it's like bitcoin's free it'll be free forever because we don't know how the system is going to evolve you know right but it is super promising what's going on and like gives me a lot of hope for you know i think i think lightning is going to be front page news like 10 years from

now but that there's going to be a lot of work in this in that decade will it even be in the news it's just happening it's just like something like behind the scenes true true like well most most end users probably won't even it'll be abstracted away yeah you're right you're right but i guess what i mean by that is they'll just be using bitcoin it'll be a big part of our lives yeah absolutely 10 years from now or something similar to it well that's let's get heady here and like really talk about it and something i really want to dive into tonight like how much does bitcoin take over like the conversation like across the world over the next decade like we have like big geopolitical movements happening we have u.s versus china versus russia we have the european

banking crisis that seems to be looming you have uh upheaval in the mid-east you have terrible currencies in latin america and just tumult and chaos around the world which has been the case probably every time or every moment throughout history you could probably point to a lot of chaos but it seems like particularly now there's a lot of chaos and that's the question like is bitcoin going to be under the radar we're going to build out this infrastructure while this is going on or do you think it becomes more uh part of the narrative let me answer your question with the question since you put your first money into bitcoin has there been a single day where you haven't read something about bitcoin engaged with bitcoin no matt what about you not in a while

right probably should take a break though like we're all fucking obsessed with that i think the world is going to be too but are we crazy dude writes a newsletter every morning on it he is one of the one of the sources i think of myself as sane and i don't think i'm a source i'm just a highlighter if you right but you said you know like interact with a like a bitcoin news item like the bent would be right me me reading the bent is an interaction you writing it is even more of a interaction that's fair i read the bent every day oh thank you i thought today's bent was very good oh thank you and that's one of the things that concerns me a lot as well just how are we gonna make sure that people continue to care about decentralization into the future

yeah so that's uh that's it's a great topic to talk about so uh bent this morning when is it october 7th yeah correct october 7th 2019 at about 11 30 a.m i posted an issue of marty's bent And it was, I highlighted Udi Werthmeyer's tweet, which was a quote of Greg Maxwell on Reddit, where somebody posited, like, are you guys worried about 51% attacks? Which I think the person who commented was like, I think this is like Bitcoin's biggest attack vector. And Greg Maxwell came on and said, I really don't think that's Bitcoin's biggest attack vector. I think Bitcoin's biggest attack vector is Bitcoiners in the future not understanding the need to, I'm paraphrasing here, the need to protect trade-offs and assurances that enable Bitcoin to survive. Apathy, basically. Yeah, apathy and ignorance.

It's a combination of the both. So do they care? Number two. Number one, do they even know that they need to care, which I think is the most important thing. Is it more ignorance or apathy? Yeah. Yeah. I think it's apathy. You know, most people just do the easy thing. That's just how most people operate. And like, we've seen that since the American revolution that like,

you know, we've just had this creeping centralization in America, centralization of power across institutions mainly, you know, because of the monetary supply, but like decentralization was at the ethos of the American revolution. We were going to be decentralized group of states all working together and we have just lost that fully over time you know so i'm not actually as worried about i think we're minting hardcore maximalist every day because everybody wants that 6.15 everybody wants eternal riches and big titty bitches you know but i'm worried about our children and i'm worried about our grandchildren i'm worried about 300 years from now you know seven generation thinking exactly it's one thing i'd like to bring up

it's a concept that's not well known uh actually had somebody reach out to me uh because travis cling and i had touched on it uh the episode i dropped last friday somebody i talked to about bitcoin reached out to me it's like i really like like that like seven generation thinking it's not like 500 years though no it's 210 a generation it's like 30 years is that over it's only 30 years i'm pretty sure i was thinking like lifetime i was like thinking lifetimes no no yeah yeah because if you think about it you're only really productive in the middle of your life you know like it's not like when you're a baby you come right out and start you know yeah i was thinking like 70 70 years old times seven no yeah it's

like 30 90 years 30 times seven like half that okay which is like 300 years that's like that seems like a reasonable expectation well that yeah like plant a tree that might that at least thinking 60 years into the future um but no not even like i'm not going to tell people actionable advice to think seven generations ahead just the the concept of thinking seven generations ahead of you and your actions right now affecting those people is again it goes hand in hand with low time preference and and thinking about ways in which we can affect the world not only while we're on it but when we're past and shit like that totally yeah you know i've always had low like low time preference thinking like my father was one of these guys who was very low time preference and

basically taught me about compounding super early on and like i started investing super early you know at like 16 17 and learning how the markets work and everything and i was like the annoying asshole to all my friends being like we can all be fucking rich man don't you understand like all you have to do is like don't go drinking this weekend right like just you know put like a hundred dollars a week away like basically stacking sats but it's a much tougher pitch when you're like put it in these complex financial instruments that nobody fucking understands all right you're gonna go to vanguard.com or you're gonna set up an account go through all the kyc aml there was this great man his name was jack vogel and he basically made the fees super low like it's like

you have to know too much right and it's a rigged game for smart people one of the things like i love the most about bitcoin is that you know when bitcoin overtakes the world anybody's abuela across like latin america can you know take they can take their digital hard-earned savings and put under their digital mattress aka you know their cold card or whatever it is and nobody can fuck with them they become unfuck withable you know numbers should go up yes yeah but this and this is why we were bullish with betty what was that about a year with betty i forgot about betty remember betty was running a uh a barbecue joint in kenya i believe or nairobi it's kenya nairobi is nairobi is in kenya nairobi kenya she was running a a barbecue joint down there but yeah

no it is empowering and it's when do people like so going back to the point of ignorance versus apathy like i think it i think it's hard to be apathetic once you don't have the ignorance anymore right like once you know it's like oh how could you be apathetic yeah that's why this is actually better i wouldn't slam people with apathy because apathy is a choice right like you're you're choosing to be apathetic i think most people just are born into the dogma they don't know what's around them they don't know how the world works i mean one of the things we all feel right like did you feel as embarrassed as i felt like that you had never even for a second considered how money works yeah that was that was a pretty scary realization it's super embarrassing

and you feel like what a dumb ass i am i've been i've been like making all these calculations and wasting my time in my fucking life for something that i don't even know how it works i don't even understand it just a bunch of men somewhere else like fucking decide it for me like what a pussy bitch am i you know yeah no and it's it's crazy and it makes you think you're crazy and that you're like uh the the bad ad hominid attack of a conspiracy theorist like but that's how they like tried to paint like end the fed and ron paul's whole uh like campaign to end the fed was like oh you're some conspiracy theorist but the fact that nobody knows what money is or how it works like you grow up you go through the schooling system you pay all that goddamn money yeah you i

pay i paid all that goddamn money for an economics degree and like the money creation part was once one club money in banking was like one class one prerequisite like one 10 week sprint like that was it wasn't expounded upon a little introductory nothing too crazy and everything else was theory right but nobody knows what money is yet it drives everything again money is the root of all evil fuck money or excuse me fuck money fuck bitches get money like and people and again like i've said this plenty of times especially in the last three months but we've been warned throughout history like don't fuck up the money and people don't even know what money is let alone that they should not let it get fucked up you know that's something that we haven't fucking memed yet that

needs to be mean like how do you mean don't fuck up the money in a way that like compounds across generations where this just becomes a part of culture you know what i mean like we go into church on sundays and basically the sermon is just every sunday don't fuck up the money don't forget to fuck up the money freaks don't forget to not fuck up the money i mean if you want to talk apathy like you can see it in other chains right in the communities of other chains already uh things like ethereum where they you know there's no there's no uh priority place on actually like keeping the system distributed and censorship resistant so you can use that as like kind of a blueprint of what not well that's another thing like

what are these chains uh performance tuning for right like is ethereum performance tuning for censorship resistance or functionality do they even like can you have one without the other like that's what i think everybody outside of bitcoin's big mental block is like this stuff takes course direction you need one thing to happen before you can have another thing like you need it to be sufficiently decentralized and robust before you can even think to build the defi land that you what or some shit oh defy man i think the problem is we don't know like how decentralized is enough right and we won't know until it's potentially too late right then we have would you argue we did not have a test two years ago we'd absolutely had a test i mean it's better to overshoot it and

be conservative obviously right but the problem is you have apathy apathy apathy and then we have the true test and we're not ready for it right and that could set you back this goes back to my point like once you like once you overcome the ignorance of not knowing what it is and you understand most people have an aha moment at least maybe we're um maybe we're biased and we're living in our own bubble but i think once you understand like the fundamentals of bitcoin you're like oh this is fundamentally a better fairer system like you want it to happen so once you overcome that ignorance it's hard to be apathetic right and so like that's what i'm trying to get to like i think it may be an education problem there's people i've met there's people i met that like they

missed the whole bitcoin cash segway 2x like they were here they owned bitcoin and they had no idea what was going on they just had absolutely no there's a large group i like we live in our own little like twitter reddit telegram bubble uh there's a lot of bitcoiners that could give two shits all they all they know is they open treasure on the the web wallet and they have their bitcoin there and they use it for whatever they just that's number go up they just want number go up you know or whatever they're using it for so do you think our little bubble in the twitter sphere the yeah bitcoin autist if you will that we all are and just decide to focus on this 24 7 365 is it uh is it a uh it doesn't matter in the long run like are we just noise do you think it's helpful

that's a good question obviously i i buy into the idea that we're all you know uh white blood cells like i think that we're a protective mechanism for bitcoin and you need to have an intolerant minority to tell people to fuck off you know what i mean like if everybody doesn't care then what's the point of the system like we all have to be high conviction because of where we're coming from like we grew up in a system where everybody didn't care if we just went right back to not fucking caring like why are we even jettisoning the current system why don't we just let some assholes over at the fed like tell us what to do you know no i agree and luckily up to this point uh bitcoiners have been able to stand up to the test and tell people to fuck off and that was

the point of today's bent like in the future when more people inevitably come into bitcoin will that intolerant minority be enough like do you think bitcoin's intolerant minority the core group of bitcoiners probably in our circles and some very close to ours uh is that enough to ensure bitcoin's assurances into the future we're doing pretty good actually you know i'm gonna like cheerlead a little bit like i have a buddy who is a total noob and he's not he's not a very bright guy right and i got him into bitcoin recently and i was like listen dude just buy some bitcoin and if it's lower than what you bought it for in 2022 i will buy it off you for what you paid this is like a no risk investment no risk no risk and he knows that i have money you know and so he was

he was cool with it this guy is totally the kind of guy who would just leave his shit on coinbase and you know i couldn't get him to not buy on coinbase he was insistent on buying why well i he had downloaded the app back in you know during the bull run and he still had it and he was like that's the app i know that's you know so that's one of the coinbase has a network effect we don't lindy that's some lindy right there we don't like to admit it but they have a network effect and they're fucking it up i mean it's like aol you know they're trying yeah they can't get out of their own way it really seems like they're trying to kill their business like does it not long term like short term they're doing a killer i guess but it's either that or they're such a character of

the like mental lapses that exist in silicon valley and san francisco in particular in those tech circles that they literally don't even know that they're like a laughingstock oh yeah yeah in my opinion brian armstrong took the giving like brian armstrong in particular completely out of touch completely out of touch has no idea but yeah he took the giving pledge and his money is like basically all paper you know what i mean like what are you giving you know i mean he's he still should be commended for that sure but whenever someone's gonna be there when he goes away their money when he goes to give their money like i wouldn't do that yeah i wouldn't do it either yeah well that's actually a good segue into something i wanted to bring up to you i saw

on your twitter uh people who are hating on billionaires bernie doesn't think billionaires should exist right i heard you coming at people or saw you coming at people on twitter well here's the thing like that's a variable right you're saying a billion is the number that we want nobody to be hoarding right and obviously it goes it gets very complex because jeff bezos doesn't have like just billions sitting in a scrooge mcduck style vault it's all he should though right it's all wrapped up in amazon which is a product we all use on the daily and like i would argue has greatly benefited everybody's life now because the senior age and the cantillion effect there are a lot of billionaires like you know the assholes over here in manhattan who live in

some fancy McMansions like they they probably don't deserve their wealth and so when Bernie is talking about billionaires shouldn't exist I think he's gearing it towards those type of people people who are parasites on the system and obviously yes we probably have more parasites than at any time in human history well that's actually an interesting fact that was brought to my attention a couple months ago I can't pull it right in front of me but uh the amount of billionaires uh from 2007 to 2019 more than doubled i believe it was like 1100 existed in right uh 2008 2009 and there was like 2500 this time last year so we're now at a super unsustainable place where it's easier to make 100 million dollars into 200 million dollars than it is to

make 100k into 200 well and it's and what most people don't know and they should know again this is like goes back to the conversation ignorance over apathy i think this is a subject people are very ignorant on is the way the system is constructed as such that those people at that wealth level just literally have to put their paper wealth into some fund that is again paper wealth just moved to another part of the balance sheet that invest in stock markets and the financial markets and fed policy makes it such that those are the safest lowest risk investments for big money managers and those people just make money on paper and that's how you get the amount of billionaires doubling in the course of 10 years throughout the biggest

monetary expansion the world has ever seen in response to one of the biggest crises the world has ever seen on a financial level 100 charlie munger called it an unfortunate side effect at the berkshire hathaway meeting like it's just an unfortunate side effect that we've made us all two times richer shut the fuck up right but people how do we when do people realize like i I mean, but they're, like, Occupy Wall Street existed. There was obviously some anger after that. By the way, I must say, I've been fasting today, and this cask whiskey is hitting me pretty hard.

I'm a little buzzed already. Oh, yeah, when you fast and then do whiskey. It's quite delicious. We're half an hour in, and Uncle Marty's a little buzzed already. But, like, how many times can people get their face pissed on, and, like, the academics and powers that be tell them it's raining before they get up and start buying more Bitcoin? well hey man uh paul krugman says debt is money we owe to ourselves you know that was such a weird

tweet all caps repeated four or five times it was screw up like what was going on there well he opened himself to like some very intellectual criticism too it's like all right if you're going to say that who is we when you say we in his mind that's every generation uh like literally every human is a we a collective but that's not true like you have demographics for i mean you don't have demographics for a reason you have demographics because of nature but demographics exist and like the collective we does not benefit everybody at any given point in time like yeah it's basically also his version of him doing the the black girl hand clapping tweet you know he's just like repeating it over and over i hate the hand clapping emoji on twitter really bothers me

i've only done it once and i was thing i've only done it once and i was very uh very disappointed myself for for posting a tweet i forget what it's all about context it's like you need to stack more stats with hand claps i'm with that as long as it's on brand i uh i mean this is all like our current financial system is like very new right like in the scheme of things it's like less than a human lifetime so i think you just need time right like it can't continue this way forever it's unsustainable well i i completely agree that's the crazy thing is what is it about humans in our inability to put things in context like we were just born into this i'm like oh this is the way the world works this is the way the world works i feel like especially in today's day and

age obviously with high time preference conspicuous consumption driven society where you're looking at your phone you're refreshing twitter every five seconds like the inability for our generation and the generations around us to take like a 100-foot view and put ourselves in historical context is, I think, a big flaw in something that's pervasive. I think it's adaptability. Like, adaptability is the human gift and curse. You know, it's a double-edged sword

because we can adapt to any environment very quickly, which means if we're sitting on a couch eating potato chips and air conditioning, like, we adapt to that. But if we're on the Sahara, you know, living under some elephant bones, fighting off a hyena for our next meal, we adapt to that too. and we just tend to think that whatever's going on around us is going to continue going on into

the future like this is why people don't understand bitcoin is because in order to understand bitcoin you have to understand evolution because bitcoin is an evolutionary system right it's it emerges bottom up like it was not architected top down by some fancy board of assholes like they do over at ethereum you know oh well said well or libra would be a really good right libra is a good one or the fed no ethereum is a good example too i mean it's it's actually been crazy to watch like the the attempted whitewashing of ethereum's history and oh my god i don't i mean fuck it let's turn it into let's shift it always turns this way are you uh are you bullish on ethereum's uh prospects of successfully transitioning to eth 2.0 well we were talking about apathy earlier

and I think that Ethereum has apathy built right in, right? When you keep kicking the can down the road, your entire user base and your developer base is just going to become apathetic. Like, when are we going to fix that? I don't know, man. We'll fix it at ETH 2.0. And then when are we going to fix it?

Ah, we'll fix it at ETH 3.0, man. Well, I saw something last week. Was it, it wasn't Algorand. What was it? When they transitioned to ETH 2.0, some huge apps, Aragon. It was Aragon. Aragon's contracts have become like unworkable.

It's like one of the biggest apps on Ethereum. Again, I'm not an expert on Ethereum. Does Aragon, like they make purpose-built contracts that other projects can use, right? I'm not positive. I know that they have smart contracts running in Solidity right now that work, but when it transitions to ETH 2.0,

they are not going to work backwards compatibly. And that's something that's just glossed over. At least from my observations, it seems that it has been what i kind of thought was interesting was uh someone forget who was speculating that there would be like rival vc teams like vc back teams that'll come up with like competing eth 2.0 chains with like a small pre-mine of course that's gonna happen wasn't vitalik out trying to uh yeah vitalik will be leading one he was trying to justify developer funds last week wasn't he well that's a constant reoccurring but he did it again yeah if vitalik

just had another hundred million dollars right you guys he could figure out all the issues like just a hundred mil away if we had enough 6.5 6.15 bitcoin hodlers to donate to vitalik's phone eth would be here we'd have the touring complete world computer that we were promised yeah exactly it's like look at all the money we spend on cancer and we all know we've solved cancer you know uh damn dude so what do you do outside of bitcoin so i think i think a lot of people on twitter know that i'm a filmmaker and that's my training is like i went to film school when you go to film school it's like forced entrepreneurship because you you come out and like nobody gives a shit nobody wants to give you a job you know so you just have to start a company and start doing

your thing so from that i jumped into like doing commercials doing music videos like i've definitely done a bunch of stuff people have heard of uh i have like over 1.5 billion views online at as at this point oh shit i had no idea yeah but i don't like to um it's like i don't i often don't like to brag about it too because like some girl who does makeup tutorials who's like 13 and lives in her parents bedroom in tokyo has like 7 billion views hey we're finding uh uh good allies in the youtube makeup tutorial room so michelle michelle that's right she's worked it she definitely read the bitcoin standard oh yeah this just goes into the point too about how anybody could say they like bitcoin and they all just become our new best friend we're just that's what's important

about we were talking about earlier is like that swarm of bitcoiners online that love and that appreciation is it positive feedback but is it too much sometimes the individuals don't matter as much as the swarm in its entirety that's a very good like the individual like we could come and go right that's one of this that's one of this podcast favorite uh favorite lines is you're only as strong as your weakest link like no like the chain is one big entity like each link is apart like especially on like the education front i think and like minting new like you were saying like minting new like hardcore bitcoiners do you guys ever worry about like leading people down the wrong path though like what if we're wrong what if we i mean i think the responsible way

to do it is like to provide kavits like caveats around the you know also while you're doing it yeah it's like i think we do this is not the best but advice but at least we'll be wrong at the same time right you know it's not like we're trying to pull the hood over someone we have the courage of our conviction yes no this is antagonistic questioning and i agree like i think this stuff again like i've been saying like once you know it it's like how how could you be apathetic towards this at all like it is better it's just what is the best way that's me i'm sorry that was my phone like what is the best way to have people like reach that aha moment and well get them into the swarm if you will you know for me it's more about tightening the inner circle uh which is why when

i saw it when i saw you do stacking stats i was like this is the fucking this is the beacon this what i've been waiting for like stacking sets i was like stacking sets is the world's greatest meme like i'm in love with this meme why haven't i been stacking sets i would we have been stacking sets this whole time we just didn't like realize what to call it right at the vernacular yeah well and also i was doing the thing where you know i'd make a big buy at the quote-unquote bottom so you weren't dollar cost averaging now so i you know like at the most recent bear you know i bought like 300 000 worth at uh 6600 it's terrible big dickin big dickin and yeah we we all know you did because you were posting screenshots the whole fucking time how does it feel you shouldn't

you're like tell you're preaching like bad habits to people here's what i'm doing i'm doing community service for noobs because they get to see that you know you remember during the fucking 17 run up all these like little bitches like crypto medici would be out there telling people like what to do you know or uh crypto randy or whatever the fuck you know pick your favorite shit coin influencer and most of these guys are poor losers who live in their mom's basement like michael nye like crypto nye that you know you remember this just name dropping i love it i don't think any of them listen to this podcast yeah fuck them anyway oh yeah definitely not matt matt and marty aren't saying this shit i'm saying it about you you're a bunch of little bitches and you know

michael nye is ripple tattoo right no that's uh i think you're thinking of bit lord oh bit lord bit lord that's pathetic um lord waxes his eyebrows also well that's i mean this is a good and i'm not trying to say uh one thing or another about any of these individuals but it is crazy it like highlights the craziness insanity of the mania when we get into the mania phase of these run-ups because basically all the people that you're referencing in my mind just via observation i've been making they've been on my bitcoin list and they popped on my bin they popped on my bitcoin list as they came into more and more conversation and observationally looking it's just yeah posted charts had an anon with crypto in the name and that was basically you

post bulls charts at the right time during the bull market when all the retail is rushing in you can get followers very easily i'm a hypocrite too because you post something charts you post something that tickles my various confirmation bias spots and i'm gonna fucking smash the like button on that retweet i uh i just want to go back real quick because i think it's important to talk about this i think the stay humble part of stack sats is really important because otherwise when you do get to a bear market people get overextended right exactly and so like yeah for maybe absolute numbers what you post this is exactly what i was trying to tease out by pointing this out yeah that's not the way to to go about it i knew i knew matt was

gonna chastise me when i want what came in here you know but just because like i'm your like people should be humble like they shouldn't overextend themselves and i i understand you're not but when you post those big numbers like you make everyone feel like they should overextend themselves like they i sometimes i'll look at a tweet of yours and i i will just open up cash up and i will buy more because we should stack it right now like during the pod you know what i'm gonna stack right now i'm gonna stack but sometimes i'll look at it and i'll be like damn dude are you worried about uh are you worried about the gptc premium closing when the etf gets launched well i just yeah marty's asked me that because i just bought a half million dollars worth of gptc and then i

posted it online i know matt's like shaking his head at me he's like stop fucking saying that shit dude listen i'm like the one exception man that's that's how it is you know i'm gonna try and buy 7700 let's see if cash apple let me do that probably not okay i stacked big dick i can I can only buy $210,000. Do you max it out a lot? Every time. I just hit the max buy every time. Ridiculous.

What is your risk profile? If you don't mind me asking, what is your risk profile like? What does your portfolio look like? Well, okay. So I have all of my personal. I just stacked, what, 2.5 million sales. Sorry, I shouldn't say. Every time I do that shit, Matt is shaking his head at me.

matt's red right now because like right now you've promoted stacking stats like tremendously but it's just it's bad habits i lost the roots stay humble i lost the foundation i mean because the other issue is like then people think like oh if they're a nim then they're safe or whatever but like their kyc exchange provider like cash up in this instance can connect who it is so if you use their data you can figure out who the twitter is and then if someone's like it could out them they could be thinking everything's like i know you don't think everything is anonymous on twitter or whatever but they could be saying things they shouldn't be saying things are not anonymous on twitter like you guys need to you guys need to understand that uh everything that i'm putting

on twitter i i feel is ultimately going to be reconnected back to my real name and identity right because it will be it will be no 100 okay good i'm also willing to fight the fuckers right up front and ready like i don't think you've said anything like incredibly what am i doing i'm a guy who's buying some shit that's legal through an american company that's where like i am like right there with you in this line of thinking where a lot of people are ultra paranoid be worried about what you say in social media especially if it's like anti-state it's like just with that admission alone like be worried about what you say on the internet because you'll be put on some list like self-censorship exactly self-censorship 100 that's why i don't do not

self-censor right it's different with bitcoin because you know okay no regardless regardless of what he posts the american government can knows he's a bitcoiner he buys gbtc does all this shit like they obviously know you're a bitcoiner 100 so that doesn't out you as a bitcoiner to them but it does out you as a bitcoiner to any other government in the world who is like they know you have you were buying this amount of Bitcoin at this point and then if it goes

up 10x or whatever. It shouldn't matter though. Like it shouldn't matter if they know. You know I'm just saying like if people want to travel and shit like it's going to be an issue. I think what Matt is saying is actually a fair point like that you know maybe I'm setting a bad example for international Bitcoiners because we have certain protections here in the US.

We really do and like I'm fully prepared to take this thing to court if it needs to be that way and i'm fully prepared when i would put american hodl on the documents u.s government versus american hodl i want to flesh out like a drunk cosmic future in which we don't have to worry about this shit like what does that look like you don't have to worry about dude it looks a lot like what trace mayer is doing in wyoming you know what i mean and let's explain that what's he doing in wyoming so you know trace is basically a wealthy early bitcoiner you know who has a you know extreme um ideological understanding and now has vast resources

and he has not been shy about telling people that and and you know in the early days he was doing it for uh you know marginal increases in his hoardings obviously right but now he's doing it i think sort of out of the kindness of his heart and he's trying to create regulatory environments that are favorable to the type of individual that he is and we all benefit from that is that you posted the picture of trace of the shoes yes that was a hundred percent me and the costco sneakers so no no this is and this is a topic i actually have this tweet up right now because it goes hand in hand with this tweet he posted a tweet uh two days ago over the weekend of steve jobs was worth 400 million dollars uh at the time that there's a photo with a tweet at the time this photo was

taken and uh he had zero furniture in his mansion why because none of it was good enough for steve If you had a Porsche in the garage and a mattress on the floor, don't accept what the world offers you. Demand more. Yeah, this is a tweet that... And I feel like these go hand in hand with what you're describing with Trace. A hundred percent. Like, fucking, your sats are the most valuable thing in the goddamn universe. What are you going to do?

Spend them on, like, some shitty foreign car? Fuck that. Spend them on things that really fucking matter. Whatever that is to you. You know, like, alright, I'll put you on the spot right here, right now. What are you going to spend your fucking sats on 20, 30 years from now that is really going to matter? I think, land that I will hand down to my family throughout time. Seven generations, hopefully.

Productive land is always good. That is my goal. But how are you going to reshape society in a way that's meaningful? Hopefully make Bitcoin become a thing that is part of everybody's life. My Citadel is going to be very well run. It'll be a beacon of hope to people. Bitcoin is almost like step one, you know, you know in a two or three step process where we reshape fucking society you know what i mean

all right let's go through this oh i mean i i always analogize to the american revolution but we're at the stage of the american revolution where we're all just sort of uh you know talking meeting in the coffee shops right stuff like that exactly and some people are being like but england but england and we're like shut the fuck right shut this guy the fuck up shut the fuck up we're It's like a war, motherfucker. And the reason I blow my OPSEC and, you know, I say that I have money and I'm a wealthy Bitcoiner and everything. Not wealthy like Trace is.

Trace is fucking a god among men. But, you know, that I have a couple million dollars in Bitcoin. The reason I say that shit is because I want to put my neck on the line. Like, I believe in the cause. You know, George Washington was like a wealthy aristocrat when he went up against the world's biggest empire. I mean, how crazy is that? And like, we need to put it on the line and actually fuck up the establishment.

Is this a, is this a thirst for, uh, like excitement and, uh, meaning, meaning is a meaning or is it like a rock, like a, uh, like, are you, uh, an experienced chaser looking to like, looking like a skydiver looking for that rush? no because i don't feel like i went looking for this i feel like it found me you know but number go up is a rush right oh it's like the most addicting drug there is and it's the and it's the worst because number go up happens so briefly you know like we're all here for years and years and years well that's i mean that's another good point of uh stacking sats and like dc hang in is because you're gonna miss like the two to three days of the hyper volatility that makes the big

updates in bitcoin right it's pretty easy to tell when that is too and just you know not buy as frequently as you'd normally do yeah stack sets i just thought it was funny i that steve jobs tweet like the only thing in his in the room in the picture is a lamp and like someone commented underneath they were like i don't like the lamp that was very twitter i was like well steve liked it man it was his lamp you know yeah i thought that was an interesting thing about steve jobs because you know and that it's like a very obvious knock on steve because all steve did was demand of people and he also wasn't publicly charitable right he was not he didn't do much charity at all but he might have he did he did some we don't know though if he was doing it you know

his wife did some for sure yeah but you know there's like that movie and it's like i don't play the you know i play the instruments i play the orchestra you know what steve did was demand the best out of the people that were around him and the people that were around him were geniuses but would they have done what they did without steve that's the question you have to ask yourself and what i'm asking bitcoiners is i want you to fucking demand more for your bitcoin if you're going to part with it like i don't want you to just you know i don't want you to just buy a ranch or productive land and then like like a toyota camry and a yeah and a porsche or whatever it is like you're gonna be stupid rich what the fuck are you gonna do with it are you gonna change

society or what like what the fuck are we doing here you know no it feels like we have the ability to change it too like it does is that con is it a conduit through which we could change society or is it uh is it a conduit or is it it's a tool it's a tool it's a tool yeah non-violent tool right but it like how how short is the window of opportunity in your mind do you think we have a needle to thread that we need to sort of get this as robust and decentralized as possible before a certain point 100 step one is make bitcoin happen are we are we doing a good job so far in your mind i think so can we do better i i i think we're doing a really good job you know the blind spots that we have are getting worked out in a decentralized fashion

what uh what are the blind spots in your mind that's a really hard question i think um man i think this is just matt's gonna yell at me i think privacy focus is a blind spot like in in the fact of like yes the money should be fungible and the money should be we should be able to make private transactions but like you as a bitcoiner matt's gonna yell at me you need to stand up and say i fucking bitcoin because i'm a free man i don't i don't need to fucking i don't live in your keynesian dogmatism you know what i mean i'm right there by marty right i'm right there what is that that's like like that's that's one thing that turned not turns me off but like

there is like the crazy and not crazy like again i'm drunk this whiskey is hitting you oh it's so good pretty strong right now but the crazy future in which everybody needs like hyper privacy you need to paint your face a certain way so that like i don't want that but i would like a world in which we're all just like hey we're all gonna be free individuals that's like let's agree let's agree to at least have this yeah agreement and then we can act like normal people we don't need to like paint our faces and i'm worried about transacting in the world i'm not trying to be a dick when i say this but like i feel like that comes from like a privileged position to say something like that

100 it does no because that's right that's right i'm glad definitely in a lot of places in the world like you will get fucking killed i agree i agree and so so it needs to be but we can't be angry at chain analysis companies if they can do it we should we should build the tools that are necessary to make sure that they can't fucking track the transactions in the first place i agree a hundred percent i agree too and all right to clarify that is an ideal like that is the ideal i would like to strive for where we can all just be like i don't care and again absolutely i don't disagree exactly maybe it's an ideal that's unattainable and like you can never reach an ideal so it's all i just think humans like you should just build the system so you don't have

to trust humans to you know act in good intentions like that's like the reason all of our systems are broken are because there's like this overlying assumption that all humans are going to act in like good ways to people and we should just assume that won't be the case and operate accordingly Right. And well, that's the crazy thing about today's day and age, too. We're finding out the people that pull the levers are not as good as we'd like them to be or we expect them to be. That's the scary thing about our generation is the calls for socialism, which is calls for altruism, which is, you know, why don't we just trust the government? And they'll be, you know, basically our, you know, daddy and mommy and they'll like give us money every month and we'll fucking, you know, there's probably a lot of people around here in Williamsburg who like that idea. Right. Fuck that shit. Like be a fucking grown up.

take responsibility for yourself like well that's what when i had uh mauricio on from leaden.io and he's a venezuelan a random mining operation down there and he said though like once you get a little bit of that that free government money that you live off the dole for a little bit it's so hard to get off of and here in america in particular the welfare state's only getting bigger i don't see contracting at least anytime soon it hasn't contracted recently it's only getting worse scares me is like we're going to be dealing with we're going to have newfound wealth at a time when people are inheriting the ash pile that's a very scary proposition that's always when like major wealth gets made anyway i i just want to like give our

generation like a little bit more of a benefit of the doubt because if you look at bitcoin the majority of people here are our generation our younger people they're not older people but there's also so few of us right but no but it is i think it is a little like the socialist millennial is like a little bit of a meme like i feel like it doesn't for me i think most of our generation is fed up and they know that they're getting served a shitty fucking platter but they just they're they haven't invested enough time to know what the solution is to that they just know they're getting fucked right and and some of us have come out and and actually um tried to figure out what was going on right and then others have it they just jump on to whatever

the latest thing is well you know yeah 100 i i agree i agree with matt entirely and i think that i think that me and marty are speaking from privileged backgrounds like you know i've heard you on the podcast be like i played lacrosse and it sounds like you went to maybe like a prep school or private school oh what's it yeah i went to all boys jesuit private school and i'm from a similar background as you so like yes we 100 speak from a privileged position but maybe that's sort of our roles like we need to step out there and be out it needs it needs every everything well that like i mean i mean yes i've definitely had uh opportunities to get an education that a lot of people have opportunities to but i've had my ups and downs in my life as well like it's not

like oh right me too it's not like shit has been flawless throughout time and that's like no i'm not trying to paint you that way no no no and i don't think you were trying like the the thing and i'm trying to get to the the bent that i wrote last friday which was like why don't we just i'm sorry there was mic disruption there but we've got to pass it um but the bent i wrote on last friday was like why don't we walk away from the politicians because that's the thing that pisses me off because again like i i felt like the hesitation like talking about like yeah we're we're privileged and talking like this but like again the politics in america in particular have been driven to such a point where you're just it's you against the other and that's the

framing of all the political conversations in america it's creating another and then pitting you against the other well and you know now that we're all on bitcoin right like don't you kind of have these conversations in ubers or wherever you have them about trump or whatever it is and you're just like oh man i just wish you knew about bitcoin i wish you knew how the monetary system worked because then you would see like who's behind the fucking you know who's the wizard of oz like who's pulling the lever it's not even the wizard of oz you find the root of the problem again and like am i wrong like do you think the root of the problem is money and the money creation 100 we all interact with this bitcoin does fix it like do you do you think that meant

like what do you think is the root of the problem like if you had to diagnose the root of the problem i mean i think our system has broken incentives i think the incentives are all out of fucking whack and our politicians are bought and paid for and like the top is able to just keep sucking up all the wealth um i i think when i talk to like most of my peers that are like not in bitcoin uh they're like exasperated and they're um they they don't know what to do they're just like stuck in their cycle uh and i but my point is is not even it just this world is like so fucking big there's people from like all different backgrounds that are using bitcoin uh it's pretty crazy when you start to think like even i have to actively make

sure not to be like from my point of view americans american centric because we're such a little portion of the world right what are there's seven billion people that aren't americans more than that right now there's like 7.2 or something right let me interject here though isn't it a great idea to give them i don't want to say american ideals but a tool just drop some patriotism on them well here's the thing that's worked out well the reason i fucking call myself american huddle is because first of all american gothic is a dope-ass painting and i wanted to seem austere when my real personality is anything but that as you can tell but i love the profile photo yeah but i fucking believe that america is an idea

that's worth fighting for well that's i'm very happy with how you phrase that because that's the important thought important thing america is an idea an ideal an idea that you strive for and i would argue and that's been the reason i started the podcast the reason i'm into bitcoin is because is i had somebody and i've told this story on the podcast many times but this was a defining moment in my life where i had somebody who grew up in the ussr basically shake my shoulders and be like marty the us is slowly but surely turning into what i ran away from and if you pay attention if you look at the patriot act all of the the privacy and liberty encroaching uh laws and and mandates that have been passed that's the other thing like nobody talks about executive

orders and how they've been bastardized over the last six years in particular like that's where i come from is like yo america yes we live in this country we pay taxes we are americans but that is not what america is america is an idea of pure freedom just like pure individual sovereignty like you can do whatever the fuck you want to do as long as you're not harming anybody else america was humanity's city upon a hill right like we've always had a city upon a hill some beacon to look up to and it's not anymore bitcoin is right like that's humanity's beacon like it's bitcoin is the city upon a hill like that's where the most freedom why do you think it's a city upon the hill well it's because it's the most freedom the most liberty the most

humanitarian aspects like the idea of the american constitution was not to give us rights it was to defend our rights like our inalienable rights rights that were we were born with you know they're inalienable if you're gonna get it out into like the etymology beat like it cannot be disconnected from you exactly it it's part of you same with bitcoin like the ability to save your time and your energy that is a fucking fundamental human right you know and that's why bitcoin is the world's new city upon a hill do you think it's a foregone conclusion i don't want to say that but yeah that's how i feel that's how i walk around it seems irresponsible to say that it totally is my whole thing is

irresponsibility i mean i've i say i'm more in a bear market but i've said that i think bitcoin will pump forever which i think is a pretty irresponsible thing to say that's the smartest shit you've ever said in your life but i think it will right like that's the thesis well yeah that's the whole thing is like we might not see you know three percent gdp or whatever like in a hyper bitcoinized world we might see 10 20 who knows what we're fucking capable of if we have a money that benefits us well that's the other like if we do grow into a world that is run on a bitcoin standard and that's another point i want to drive home to people is like the kpis that we strive for are they advantageous in this economy in particular like in in the current system in

the incumbent system like is gdp is growth for growth cost a good kpi to strive for in a bitcoin standard what would that kpi be what we have now is a measurement industrial complex we have measurements that you know for certain you know phenomena that we feel is going to be beneficial to us and to the status quo and then we have a system built around those measurements it's like okay let's talk about your thing with the mazari crypto rating guys and how you fucking you know you like went after them as they deserve to be gone after because they're replicating a part of a broken system that has no fucking place in bitcoin like if we're gonna be free market let the fucking free market decide don't come out and say this this thing's not a security don't worry

about it guys like fuck you two-bit idiot marty and matt are not gonna say that shit i'll say that shit you're a bitch fuck yourself he he posted one of my tweets the other day he didn't even do any due diligence on it he thought i was talking about some recent news story about some guy you know jettisoning all his bitcoin and i posted the old mike kern article if you can't even do basic due diligence on a tweet why the fuck should anybody trust you with their shit i was happy you posted mike hearns uh that was that was i think a very lost piece of history that needs to be talked about not a lot of new bitcoiners knew that one yeah and that was to us it was like i have a threat that's why that's why i felt compelled to write that issue today it was like

people don't understand like segway 2x and well mike hearns piece was probably the impetus for that whole conversation segway 2x i bought two bitcoin for eight hundred dollars on circle Sorry, I only have 6.15 I bought two Bitcoin 615 million sets I only have 615 million sets So anyway, I bought two Bitcoin On Circle

And in the notes section It had a little section where you could write shit And I wrote, fuck you Mike Hearn And that's how I remember When the hernia happened That was so annoying when that happened January 2015 or 2016? It's 2016

January 2016 Because we were all supposed to act like he mattered And he didn't fucking matter Well let's talk about what Mike Hearn wanted to do He wanted to enlist a blacklist Of bitcoin addresses That would be identifiable to Among other things

He was a spook I think he was a spook He was definitely a spook And Gavin was Gavin got turned at some point I don't know about Gavin He went to the CIA But he could just be naive

i think that's his i think that's his i think that's his like no then i'm not saying if he was naive it is dangerous i think that's his cover is oh i'm just naive right maybe but hearn was definitely i think yeah he wouldn't yeah hearn was more likely yeah so like for you freaks out there who don't know who we're talking about in regards to mike hearn mike hearn was a bitcoin core developer uh who in january 2016 uh posted a medium article i believe it was titled uh the was it uh it was like death of bitcoin no it wasn't the death of it was the conclusion of the bitcoin experiment the conclusion of the bitcoin experiment the conclusion of the bitcoin experiment that shit is seared in my brain as soon as you said i was like yo yeah and he he

basically because he he was like he said they did over yeah like to new york times and wall and he did a whole his explanation was his explanation was they won't they won't they won't push my blacklist into the core protocol therefore it has failed and bitcoin ran to all time highs immediately after that okay 20x a16z is obviously like a shit coin factory and coinbase is their uh portfolio consolidation company but i will always love mark andreason because on twitter when the price when we broke new all-time highs he came up and was like has anybody heard from mike hearn it was a fucking amazing tweet and i don't think anybody i don't remember that deleted his whole twitter but you remember that i don't i don't i don't oh it was

the shit you're jogging my memory p marca look that tweet up i remember it was the other one vinny but vinny was a little bit later i think mike hearn when he did it it was like 500 600 hundred dollars so it's actually more than 20x it would it might have been lower vinny was a 20x vinny was like 970 to like 1070 i was aware i believe any sold 95 percent of his bitcoin yeah i believe vinny was in the four figures or actually no raul paul was the other one it was at like 2100 but he was a little bit later yeah yeah that's why bitcoiners are so aggressive this is because people tell us we're fucking idiots all the time dude that's all you hear and then when you're at the top they tell you're an idiot still and you're like

it's twenty thousand dollars how am i still an idiot i'm a multi-millionaire shut the fuck up it's on its way back to zero though dude it's like uh my okay let me tell this story my dad i call my dad and you know my dad and me had sort of in a strange relationship and you know he was sort of like never in my life because he was a hardcore you know corporate lawyer guy and my whole life it was just like succeed succeed succeed you know and I call him during the 2017 bull run like in December when it's like 20,000 bucks and I was like hey I want to let you know like I'm a fucking multi-millionaire right now like it's crazy but it's true and he was like that's not real money that's what he fucking said to me and I was like yes it is god damn it like

it has liquidity shut the fuck up you know like why am i not good enough for you dad like that's what's going through my head well what do you think it is like why why is he still dismissive it's a generational thing i think mainly you know really yeah because think about it they had to grow up in a generation where like they had to be dependent on other men like it's like the cloud is someone else's computer well like the fed is just somebody else's money you know and they did really well yeah they did they got rewarded for it right to be to be in peter teal's book in zero to one he talks about being a definite optimist versus being an indefinite optimist whereas like our grandparents generation were definite optimists it was like we're gonna land a

fucking man on the moon how the fuck are we gonna do that i don't know we're gonna crunch the math we're gonna do it we'll figure it the fuck out the fuck out all right stop being un-american son and our parents generation or you know if the baby boomers may not have been on your parents but the baby boomer generation they were indefinite optimists which was like how are we gonna how are things gonna get better i don't know but shit seems to be working out you know it's like that thing we were talking about earlier it's like things are good now they're continuing to be good it's like raul paul says like all you gotta do is buy fucking bonds and equities and go to the beach things are great why are you questioning shit he also wants me to wear diamonds

i think you should don out with some diamonds matt could use some diamonds i'm looking at him right now it goes like buy goldware diamonds but so that's what i think what holds me back what makes me most apprehensive as a bitcoiner as a quote-unquote millennial he just wants to like stand on top of a mountain and shout out the world like we should be fucking paying attention to this we should be transitioning to this like i'm always like who the fuck am i to be telling people that this is on the other on the other day with travis king who said too much shit about distributed ledger technology like fuck that bro did i preface that you did preface it really well but he was like saying shit like he was like

oh yeah i fucking i bought xrp because i was like clearly bank coins or anything and i was like fuck off like why do you have a fund anyway i don't want to talk him too much but he's a bitch but here's the thing marty i like that episode i thought it was a good episode no it was i agree with him a lot travis didn't like all the dlt talk i like dlt better than blockchain it's better than blockchain i guess oh and he admitted that he was wrong about xrp but then also bragged about like what 11x yeah he was like oh i made 50k on xrp all right but it was a good episode it was i liked i enjoyed it people have to go through their learning experience you know as long as you're not promoting the shit coins it's a little bit it's okay i'm an agnostic host i'm just here

marty's just asking the tough questions i'm too drunk to remember what my original point was but i don't know you just like brought up dlts no we were getting into like before that i had a point like my apprehension is like what if it all doesn't work out and we're giving this information was that my apprehension i'm gonna figure it out it's fully gone i think it will just figure it out humans humans are smart and greedy and we'll figure it out will we though yeah we always have in the past that's true we've always figured out in the past we're pretty much killing it as a species well if you're thinking of it as an input output system the rate at which inputs are being put into the system is it's getting crazy like it's getting to a point like and this is success

though well that's the big question right we're at pre-success well that's the big question right Cause that's my, so former guests on this podcast, somebody who gets a lot of shit on Bitcoin, Twitter, Joe Weisenthal. And I would argue that he is a, not a mouthpiece, but he's an advocate for the mainstream way of economics and stuff like that. And I think like, how do we put the context of our current condition? How do we put our current condition into context? i'm so drunk right now how do we put our current condition in the context in such a way that like

you can think of moving forward without having to take like historical precedence in the air i'm so drunk i can't even fucking explain this 113 113 112 30 to 113 30 that last minute i have no idea what i was just about to say you're gonna cut that out i think i'm going to go back well the point i'm trying to make is like it is a big leap of faith to like jump into bitcoin and be like this is the way of the future like literally the world has never operated on a system like bitcoin you know what the great thing is nobody knows anything about their fucking money nobody has any investments like they're starting from scratch well that and this is the point i'm trying to get to like what if we're leading down the wrong road what if we're

wrong that is the whole point i was trying to get to it's like so joe weisenthal like pushing like the mainstream narrative like hey this seems to be working like what if that does work into perpetuity and we're just the the curmudgeons that don't want it to work because it doesn't fit into our worldview even if the current system works into perpetuity holy shit i'm probably not going to be able to cut that out and i'm sorry freaks it's okay why aren't you gonna be able to cut it out because i'm gonna forget yeah i figure you're gonna forget that's why i always find it funny when you say on air what the time is because we all hear it when we listen i'm gonna cut that shit out and you're like hey it's still in there man never does but

every single time he says it and like saying it into the recording doesn't help you remember it because it's in there somewhere that's part of the charm of the whole thing you know you know my favorite is is when marty gets upset when marty works himself up into a lather and gets upset about something that is my favorite part of tftc i love that shit do i get upset you get upset on the privacy episode janine a little bit like there are times definitely when you get upset and i love that shit i'm like oh marty's fucking fired up like well i'm always fired up i think the world and this goes back into the point like where i lost myself earlier like i believe that like the world needs directional change not like i'm not going to say what every

individual needs to do in their individual life it's changed but i think directionally we need to fight for freedom in the digital age like the digital age in particular as we so that's the big thing we're transitioning into a new era of the way humans interact with technology and there's a good argument to be made that we have fucked up the first iteration there's like a turning point here there's like we can go in two directions exactly and this is like we need this thing exactly but i think up until this point we've gone net free i think like if you talk like the last 20 years in the wrong direction you think so i think we start off and we need to like correct how about like internet access and shit yeah but just like access to

knowledge and and like well like borders are relatively open it's all good and well now but like it feels like it could be all shut down i agree in a moment but i think like we're we've kind of net benefited also think about the oligopolies that have formed you know the tech oligopolies that have formed yeah but is that new no no the global scale is new yeah exactly the the power and the speed the speed is new but the the concept of it is very old yeah yes yes the concept of control power over a system is very old but the ways in which it's enacted today are so foreign to us we're still figuring out how the hell it happens right like and that's my biggest worry is that we get to a point where we allow it to get to a point where there's no turning back and

you have like the chinese social credit system yeah exported to the rest of the world we're basically black mirror like that that shit is not good just the key is to have enough sats that when that happens you can just chill in your city well we have total we have total privilege here though as americans we really do like that's what i'm saying right let me tell you we do let me tell you the story okay so for work i like run a big influencer and we have an invitation to go to United Arab Emirates. You run an influencer. I produce all their content.

But it's a person. I run their channels, Facebook, YouTube, blah, blah, blah. I run all that shit. It's millions of people that subscribe to this person. And I'm the guy behind it. That's how I have money to stack stats. You can make a fucking killing on YouTube. We have an invitation to go to see the Sheikh's son

in the United Arab Emirates, and it pays a half a million dollars. okay this is like something that's very hard to turn down and then you look up who this person is and you're like oh this person's a straight-up war criminal they tortured u.s citizens like maybe i shouldn't go but then the the lure of stacking sats in my brain is like half a million dollars exactly so what i'm saying is when we're on their soil like the calculation i have to do in my mind is like when i land on their soil i'm on their fucking soil and they could torture and kill me at any point and i'm just i'm well wouldn't it be better if they didn't know you

had bitcoin do you agree you know what the conspiratorial thinking from matt has actually gotten me like when we were going through this email chain i was actually in my brain being like i wonder if this is a ruse to get me the big winner you know and what happens after we 10x you're going to be thinking it even more why don't you uh why don't you put yourself another glass of whiskey there wait as we're gonna have the uh we're gonna we're gonna have the crew roll in after you pass out later 6.15 hours does people were like you guys got to go 6.15 hours like there's no way dude we can't talk for 6.1 i uh you haven't met us have you shield bitcoin through the influencers account yet yeah all the fucking time i we do a pod i do a podcast that

actually gets you know probably more impressions than this podcast oh fuck you bro that's it cut it can we should we just end the episode on that no no and it's been fun uh thank you for traveling cross country this is my fucking favorite podcast like i have there is no podcast that would get me to fucking fly out here like and we can we come on your podcast 100 there you go why is this podcast so popular what are we doing like what are we doing here dude you guys you guys are the bitcoin hang you're the joe rogan of bitcoin which is the shit like we need a bitcoin hang like stefan lavera is amazing and all his stuff is so good i love stefan stefan he's too polished man we need i love i listen to everybody i think we all listen to all the same podcasts it's all part

of the same network exactly you know you guys are the well guys are the hang that's why it's so great it's actually in speaking from experience somebody who has worked for a company that trailblazed podcasting in particular with Barstool that's the crazy thing about Bitcoin, the Bitcoin space is that the consumers of one podcast consume at least five podcasts

in the space or something like that. I'm at the fucking point where I don't even listen to regular podcasts What do I actually? I just listen to Bitcoin podcasts. I have one podcast I listen to that's not a Bitcoin podcast. Yeah I listen to the Joe Rogan experience still and maybe like a few others It's kind of a Bitcoin podcast. Yeah Did you

watch his most recent UFO one? i did watch that over the weekend so i haven't watched it yet are ufos real you know why they are they have one how can they not be real with aliens did they it's how could you do like pomps thing at the end here no i just i watched it over the weekend and it was nothing like i haven't seen before but it was in joe's defense it was a navy pilot who was on record on the youtube video that showed the ufo so he was the first he was the primary source and they he had him on right he had him on and he and the guy thinks it's an alien yeah he was like there's no way he described it as like a tic-tac and he was like it would have like a gravity propulsion system we do not have the

technology but the chinese might uh i don't know i haven't heard that i haven't heard that it's you know there's a video of it and it seems to move too fast for an electric drivetrain which is interesting right because it's like okay this is not a not some weird chinese drone and this was back in 2004 like but that said like i don't know how fucking flare works i don't know how infrared cameras work you know and i'm a guy who understands cameras like i don't know i listened to that episode and i was like maybe yeah well that's the other question like are we in a simulation or are we in the cosmos well we're in a simulation like fuck you that would are you kidding me well that's If we're in a simulation, though, it makes so much sense because we would have all come to this fucking point to see Bitcoin be born.

It's like, hey, man, when do you want to come? Do you want to come to the point when you're already rich off Bitcoin and you just live in your mansion and get your dick sucked? No. And if you don't want to come to see Bitcoin be born at inception, and that's where we would have all come because we're all fucking. Why would I come? Like, wouldn't I want to be in, like, 2009? Well, no, that's the other thing. I don't know why you chose to be part of the simulation.

well that's the other thing about being is the beauty of being in a simulation simulation like the the moment at which the participants in the simulation realize they're in a simulation is that what discovering yourself is and no i don't i don't like talking about simulation because if it is a simulation like fuck that that fucking sucks what if we figure out that why does it suck though because like i'm making decisions and shit it's just a waste of time well no no but you're making decisions for the simulators to watch what you do it's like my daily life is just a waste of time did you ever read nick bostrom's original article i'm gonna take a pee break i'll be right back no this is when we talk about raising the 21 million cap ceiling you know what i think that

we need if like no i'm kidding if we ever raise the 21 million cap like yeah aren't you out i'm out if you guys fucking raise it i'm out i don't want to see it what is if it was just like just like one percent just to you know you just just like the fees the fees would have there'd be just a constant reward so you knew that no matter what there would be a reward for security i would only like to see something like that implemented if like things have fucking broken down right that's society is broken down because we're now on a fucking bitcoin standard i think you only implemented in like a situation that would be like way down the road people were wait and that's the beauty of it right like you don't want to because you can't ever come back

from it you can't never you'll never have the 21 million cap again there's this great so you try and make the 21 million cap work but if if if it came a situation whatever gives bitcoin the most value i'm cool with there's this great book called the mandibles um which is written by the author of can we talk about kevin i can't remember but anyway the book is about basically like we've raised the cap the book the book is basically about monetary policy and uh in the book the the you know everything goes to shit as we all expect it will in a hyper bitcoinized world and they have a fucking currency called the bank or which exists over in europe and like the person gets their hands on and shit and then they go to nevada and you know it's all like the libertarian

free state in nevada and it's like what bankers named after the well the bank was named after um something by keynes right yes yeah yeah so bank was named after an idea by keynes about we're Are you talking about B-A-N-C-O-R? A global currency. Or are you talking about the ICO or the original idea? I was talking about a book that uses the same... Anyway, at the end of the book, all the libertarians get together and they're like, yeah, taxation is only 10%.

That's reasonable. And everybody's like, yeah, of course it's reasonable. And then the last sentence of the book is, and then taxation rose to 11%. That's what it is. it's the fucking the creeping factor that's in everything that's why we can't have a we can't have inflation in bitcoin because once you go there you just go to it's a slippery slope it's a slippery slope it's i mean going back to shitting on ethereum and it's like vitality came out pretty ardently in 2016 said pretty confidently that there would never ever be more than 100 million

ether in the next 100 years and two years later there's 107 million ether on the market and that's what was the coin 42 coin or something that has like 52 coins or some shit well do you remember that one i met wouldn't it have 42 it's supposed to well that's uh well that's what i think that's what i think a lot of these other projects don't realize is as soon as you set the precedent like that's all that needs to be done is the precedent set is that you give an inch well i mean the limit isn't in the market will take a mile the limit isn't code it's social yes that's what people i think don't realize like a lot of people don't realize it's like all these like there's tons of altcoin chains that have whatever their limit is right and that's not really a limit because

it's not actually enforced that's it needs to be socially enforced that's ignorance and apathy and all the stuff we were talking about earlier like hyper bitcoinization is going to occur you know it's not going to occur like the way it's laid out in that nakamura institute article it's going to be more i think what safe says where it's like you know we take out a few cards and we add a few cards in the new house of cards but it's going to fucking happen and so what am i talking about i'm drunk as fuck it is i mean you just started talking about hyper bitcoin we're talking about like the the ability for all chains to inflate their supply pretty pretty rudimentally pretty easily exactly and bitcoin is not at least up to this point 11 years in what i'm saying is it's

gonna be really hard to fucking fight this when we're all dead you know what i mean like we're the generation that knows what it is to live in a debased monetary standard and and the and we haven't even seen the true fractures of that system like the system has not even collapsed yet i guess the real question is like will someone be running will people be will be there will there be a large group of people running bitcoin notes in 20 years no right it'll be centralized like that's what happens but so that's not good all right yeah well it's it's gonna it's unless we can find some meme that is basically like i'll come back from my grave and fucking haunt you now what you have to do is like running a node gets you everlasting riches and big titty bitches

or something like why running a node should be glamorous well if you have 6.15 and you're not running a node like fuck yourself you know what i mean well what would be the impetus to force people to run nodes right no wait we're not forcing anybody no like i mean this is a voluntary system what would be the impetus that incentivize somebody to run a node right like if you have a situation in which people are feeding people who aren't using full nodes bad headers or something you have like a proliferation of people sending bitcoin utxos out to addresses that they don't see fit like maybe that is the impetus for well i think privacy invalidate i think privacy is the easiest fucking sell on bitcoin node like you tell them sovereignty you tell them they're trying to

protect the system like decentralization all this shit they will never do it you tell them that you can't interact like they don't care that the about the trust profile or whatever uh even though like you can't interact with bitcoin with minimized trust if you don't use your own full node but they do care about is if you tell them the most private way you can use bitcoin uh is if you run your own full node i think we will get a lot more people and i think bitcoin will have failed if we don't have a large like geographically diverse group running bitcoin notes in their homes and in their offices and you know like not every person in the family has to run it but like uncle mitch should be running his bitcoin full node and everyone connects to it or we need that

block stream set top box that goes straight to the satellite you know what i mean that's what we like what rodolfo was talking about well and speaking of rodolfo and block stream and cold card in particular today they released a tutorial cold card did of setting up a cold card with btc pay oh she doesn't have her keys my wife's here she needs the keys marty's wife is here and needs the keys by the way the relegation studio is pimp i'm just gonna say marty's place is nice it's clear he has 6.15 um what the fuck was i talking about for fucking forget it the um oh running your own nose oh yeah privacy sovereignty it's everything wrapped up into one so ptc pay and cold card in particular all right the impetus for running a full node may not be sending transactions but

receiving transactions that's the point i was trying to make because uh the tutorial that i brought up like hooking up cold card to btc pay makes it so that you literally can offline set up a utxo set that you drop on btc pay server that never touches an online server other it's definitely receiving yes the key is yes it's private receiving private receiving maybe the impetus to use bitcoin privately that's what i'm saying it's just from use case like using it in that fashion that has like made me realize like holy shit nobody knows who sent me this because in a lot of ways nobody knows these addresses sending a transaction you're better off doing it without your own node yes like if you send it through a mesh or something like that

yeah it's like almost it's almost better to not send it through your notes like first step receiving privately is is key let me ask this though like how do you convince normal people that don't have an illicit mean to do that well why do people use because it's so once you like again like once you experience it that's true that's true this is no people have to care about their privacy right and and people will care about their privacy because their privacy will continue to get violated until they fucking care about it that's true right and we're seeing that happen and we're seeing you know there's a new war on encryption and whatnot and we're there's going to be countless cases where people realize why they should care about their privacy and it's going to

fucking happen i think and if it doesn't like that's sad and i'll be upset about it right but i might as well bank on that and people you guys should see how disappointed matt was when he looked me in the eyes when he was like very blowing your object right now i was like i know matt i don't give a fuck he was like i'm just trying to stay humble bro and you're just doing the exact fucking opposite this is just me bro part of when i got triggered last night was because someone was giving me shit about their like stacking sats is an irresponsible meme i'm like no stacking sets is like the most responsible meme but some people decide to stack large amounts and post screenshots of it on fucking twitter and it makes you know it makes it the whole

the whole lifestyle look more degenerate yeah less conservative higher risk right like the whole plan let me tell you where i'm coming from on this what like the reason why i inserted this into the stacking stats meme is because like trace was saying like he was like we're moving into a more hyper competitive sphere of bitcoin and i think he's right because the scarcity is kicking in hard what do you mean by a hyper competitive sphere so the scarcity is kicking in hardcore and we're all you know being like looking at each other like okay our investment's not going to go to zero we all already believe this shit that it's going to fucking be the world currency so we need to get our hands on as many fucking sats as possible hyper competitive

what 6.15 does is it makes it a gentleman's club it's like we're fencing you know what i mean we're basically being like hey bro i stacked this many how many are you gonna stack you know it's it's like brinksmanship you know when i saw you guys initially stacking like five dollars and ten dollars i was like this is not enough we're trying to be these motherfuckers need to stack so much more you know we're trying to make it more accessible yeah but it's it's stacking sats it's not stacking bitcoin you know it's you know what you're it's trying to get people away from agreed to disagree no i'm kidding i hate when fucking people say well also people don't have those stacks to set like that's true the stacks to fucking drop on sets no yeah i just but you

know it's gonna get scarcer and scarcer every day like you need to get your fucking like 6.15 isn't enough no like you should at least go for billionaire status which is 10 10 10 is billionaire status that's a billion stats i agree but remember back in the day we had the 21 club like i i don't think new bitcoiners know about the 21 club 21 club is what you should strive for there's this other guy one million of the whole supply during the run-up in 2017 he had like a what was it like 2.15 or something he had his own number there was this other guy who had a number that was like two point something he's like he mathematically figured it out it was the that was the amount you needed see i that's where he fucked up because i just fucking winged it i was like

is it because it looks like big is that why i dude somebody just asked me how many bitcoin i had and i was like i just want to defend small titties for a second because i think small titties are beautiful and i feel like you this came out of nowhere we got to get into this this came out of nowhere all right no no here's the thing i agree i agree listen if you're gonna buy for the long term you buy small titties you know what i'm saying you don't buy big titties they're gonna depreciate they're hella inflationary like they're gonna sag like that's just how it is i'm sorry ladies whoever's listening to this but smaller titties are a scarcer asset because like anyone can produce big titties let's be real too when you when you're a real man you don't give a fuck

about small titties you're like that ain't stopping me like let's do this thing you know i'm saying there we go i'm glad that we got them on the record no no all right now here's the thing what marty doesn't want to respond what eternal riches and big titty bitches is it's a shit coin pitch it's a shit coin pitch for bitcoin isn't everlasting riches everlasting riches whatever the fuck it is i don't like everlasting i think oh and uh to be clear i'm a big fan of titties everywhere no matter all titty sizes that's i agree i agree we that this month okay we can agree on that no here's the thing it's like it's a shit coin pitch like i'm not some fucking play boy douchebag who's out at the you know vegas clubs or whatever slamming puss like i have a

wife and i have a wife and child and another baby on the way i'm like i'm a fucking family man okay but that said if you get in you can't speak like this if you get in for the 6.15 and the big titty bitches like along the way you're gonna it's a metaphor it's a well along the way you're gonna become a hardened individual who wants to like move out to Wyoming and take control of your monetary sovereignty. You know what I mean? So it's a, it's a lure. It's like a fish. I'm like, I'm fishing for these noobs, you know? Do you think Bitcoiners are inherently like family men that they have kids and they have, or they like quest to have kids? I think Bitcoiners are more conservative by nature. That plays into the time preference thing, right? Because families are

more low time preference. Families are super low time preference. And by the way, like if you listen to culture writ large like you're being told like you should what like twerk twerk twerk twerk yeah you should get a dog and you care about the environment you shouldn't have any kids right exactly you should eat bugs gretta thunberg i've never had bugs in your that's my american privilege i will not eat the bugs no i tried one of those cricket bars they're fucking gross why actually i would do i would probably do like the powder they grind them into a powder yeah it's just protein powder yeah it's not like legs in the bar or whatever but they don't taste good they taste bad man yeah it's protein i i couldn't like actually like eat

like one of those like vietnam uh carts or whatever you know i don't know if you guys know like a food cart i don't know if you guys know anything about um jonathan height's work jonathan height is a social psychologist who went who's a harvard guy and he wrote this book called the coddling of the american mind he wrote this book called the righteous mind and basically talks about the difference between liberals and conservatives and conservatives have a much deeper moral palette where their moral palette is more like you know purity is part of your moral palette and you know you you're more subscribed to hierarchy etc etc and liberals tend to just have care harm reduction now when i use like conservative liberal that's not to mean like

you voted for trump you voted for bernie whatever like bitcoin invites everybody into the tent it doesn't matter who you are it is to say that the people that are here early tend to be more on the conservative side although it's not always true i think it's just it's just fuck the system yeah like we have we have radical left we have radical right well it's not even fuck the system it's like let's build a new system and but that system is inherently built on principles that are inherently that's why i'm fucking here like the system if anarchy but if anarchy was just fuck the system i wouldn't fucking be here you know what i mean like i would be somewhere else this isn't pure anarchy well it is no because there's still rules i mean anarchy the fact that anybody can come and

go right anarchy doesn't have to mean there's no rules but there's it's like we have consensus rules right yeah but anybody like the system runs on rules yeah but anybody can download any version of the rules that they so please well wouldn't pure anarchy be like a barter system no you wouldn't have like a universal account no because you would still measure you would still measure like distance in kilometers and something like france i do like that or somebody here i do like that we have to uh we have to help ck uh put that into the common lexicon that's the other thing so the metric system the meme of bitcoin being the metric system of value that has to be taken with grain of salt will never be such that you can measure value the way you can measure distance

why not because you have different it's just the sets but you have different goods entering the economy that that have uh like different pricing information that isn't priced in automatically things are different sizes yes they're different sizes but like you can you can't measure you can't measure economic creation right away one thing that's why pricing exists one thing that i think is interesting here is that meters do not have a symbol but everyone wants a symbol for sats i must preface meters do not have a symbol i must say that it will be closer to that metric system that we that we envision it's just not a perfect metric system we don't need a symbol for sats all we need is a lowercase s at the end of the number and then it's just like meters but for value the letter s

is the symbol for sats right we own the letter s fuck off that that's like a huge debate that's going on i don't even did you see that matt what do you think about the one that was the sat with the lightning bolt and the it's all right i just don't think we need a symbol i think sats will be the standard so when you see a number and you see a little s behind it you know like that's how many sats it's worth that's that i like that it's like meters yeah sats are the metric system of value It's an evolution of CK's meme. Are we going to change all the clocks to Bitcoin time? Yes.

To block time. Well, that'd be really bad, actually. Well, there'd be some sort of... Poisson. What is it? Poisson. Poisson. Poisson distribution.

The Poisson distribution. Poison distribution. There was a two-hour block, what, last week? Yeah, you couldn't do... You can't do short-term time based on the block time. You can't be like, yo, meet me at block 623,000. Years, I could see years being, like, I recently did Pirate Beach Bum's diaries again, and he did, I was part of the Bear Market diaries, and then I was also part of the Bull Market

diaries, and, like, nothing has fucking changed. But one thing that changed- Are we in a bull market, though? Can we call it the Bull Market? We are in a bull market. It doesn't matter. I don't even think- Are we in a bull market till we go past 20,000?

Listen, if everybody is like, hey, 5,500 inbound, fuck them. The real question is, when I did it the first time, were we even in a bear market? But that's besides the point. One thing that did change, all the questions were basically the same and almost nothing changed. One thing that did change was he had the question, when did you first find Bitcoin? And I put it in block time. That's amazing. And I think year-wise, when you start talking about years, like 1900 AD, right?

we picked an arbitrary point in time and we started doing time like maybe that's the genesis block now like i could see year time easily being just whatever this may sound taboo right now but the person who uh introduced this concept to my life was andrew desantis like desantis that was it's a little bit controversial now i still love desantis man like desantis got my brain firing in a way that i was uh dude i mean where did he go where is he he's over on bitcoin sv right now he's a bsv-er wait wait honestly this is the first time i'm ever hearing of it he's a bsv-er uh i believe so i believe so i'm not sure what these fuckers i was i was going through i was going through daniel krawitz this is a fucking timeline today and i was like dude you wrote so

much bomb content for the nakamoto institute like hyper bitcoinization why are you following some fucking piece of shit australian con man for bsv it's like all right it's like kevin fam right like sometimes when i go super hard on bitcoin twitter they're getting paid kevin fan no i know i know right when i go super hard on bitcoin twitter i can't confirm nor deny i think okay what if somebody wanted to pay me to switch you know what would i worth it dude this is a long-term reputation game yeah that's no amount of money i wouldn't do it like the reason i fucking flew here to brooklyn is to just meet you guys and fucking go on the pod because you're both gonna be wealthy motherfuckers in the future and i want to know you i don't own any bitcoins yeah matt

Matt doesn't have any. But I want to know you guys just so I can get invited to the ranch or wherever the fuck, and we can all be friends, you know? I lost all my Bitcoin in a tragic shitcoin accident. It was terrible. I was there. He was trying to get in on ETH 2.0. I lost my bag of Bitcoin as well.

I watched it drop to the bottom of the ocean. No, but it is. We're building the Citadel network. Oh, my God. The Citadel is real. Okay. It's real. But they're not real yet, but they will be.

They will be real. I'm not a big fan of the Citadel future. Again, going back to like... I don't like this. Why? not why don't you just buy all of williamsburg man that can be your citadel oh god i would never make williamsburg my citadel i'm getting far the fuck away have you read snow crash i'm not not yet snow crash is like a pretty good time it's been i need to read it too

it's on my list yeah it's a big uh all my everything i believe that's gonna happen in the future is just like in snow crash no no no it's just like a mix of all the sci-fi i've read it's like it's not original thought but it's just a combination of other people's well that's sort of the beauty of that genre of uh sci-fi in particular and a lot of it has come true and so i'm more drawn to i don't even know if you consider it non-fiction but like the sovereign individual but i'm drawn to non-fiction like people who write about things that have happened in the past the sovereign individual is just like a fucking how-to manual it's a template yeah everything everything in that book is so crazy so crazy so prescient like it's crazy

you know on page 27 the revenge of nations or 24 it's 24 27 or 21 it's in the 20s i think it's 25 are you talking about the bitcoin page the bitcoin page is 25 they pretty yes wow he was all over the place no he was right in the right it was in the range you know the only reason i know that i'm gonna the only reason i know that is because i listened to an early episode of marty's on the way here where he was talking with pierre and he said the exact page number i didn't remember the exact marty said it so marty said i'm just feeding your own shit back so also ht old marty your first ad was i don't know if anybody's ever listened grant arnett the first ad was for like just some dev who needed work grant our boy grant and his

email was like the new season of curb is mediocre at gmail.com yes so fucking funny fifty dollars paid in bitcoin where's he at now uh i don't know i hope grant's listening grant if you're still listening give us a shout out he's got a bid there we'll give you a free ad read next week we just kind of gave you free ad read i think we just that was your reader last season occurred or the new season of curb is mediocre let me ask you guys this question how do you feel about the the bitcoin plebe thing pleb right i think it's plebe because it's plebian sure for plebian plebian yeah it's it's a it's a taste thing i say pleb i say plebe plebian once a pleb always a pleb yeah no i think it's i love the bitcoin plebs i wish they're not plebs i would exactly they're

not plebs like that's why i keep telling them i'm like be fucking future masters of the universe like you don't have to be fucking plebs it's a humble thing exactly and observationally just like looking out again like what I'm looking at it as is like and I've seen it like the like the taco

stuff and all that shit like I love tacos it seems like a group of people who are learning about Bitcoin at the same time and sort of having a similar trajectory to come into understanding and using each other to like test ideas and stuff like that which is beautiful i actually wish i had a community like that when we like in 2015 2060

right when like i was a lurker on twitter and loves like and like we didn't have telegram like that though like reddit and stuff yeah but like it was different though because it was like bitcoin talk yeah it was different reddit like anybody like it was you'd post something like or for me i'd post something noobish and luke dash jr would tell me shut the fuck up and how wrong i was irc no i was never on irc i was on the irc see i was pure like i like in my but it was all over my head i just i was there just to be there my journey alone was bitcoin talk.org and twitter that's what i use mostly reddit you weren't on reddit was not on reddit it was popping back in the day i know it sucks now i never use reddit anymore reddit sucks man it's just a bunch of noobs

to be scared i never liked i never liked reddit's ui of like i never liked the threading of reddit yeah it's like for we have good bitcoin very gameable good bitcoiners are mods on reddit like mr hodl is a mod uh hearns is a mod there's good bash co bash co is a mod i was talking shit on reddit and they they like got mad at me and i was like hey listen i'm i'm sorry guys like i i thank you for the work you're doing but there's a lot of noobs on there talking about shit coins it's it's become like r-cryptocurrency you know because my experience with reddit recently is i'm a mainstay of r slash monero yeah you are what they keep posting you because whenever i post about bitcoin privacy they like post in r slash monero about how i should have used monero

and they have a they have an acronym for it now it's shum should have used monero which i actually love i actually i think it's great well that was actually it's like our inside joke that we have use shub that was use bitcoin next time you see a bitcoin privacy tweet by me look underneath it there'll be at least a couple people that say shum and i will have liked it because i actually it's like our little inside joke shub they're uh reported by the block today uh fuck the block 93 of dark markets on the internet use bitcoin uh support bitcoin support or accept bitcoin yeah um and then what i found appealing if this fact is true is that of the cryptocurrencies that are users three that are mainly used and it's bitcoin monero and litecoin and not uh not ethereum which

i thought would be why would anyone use ethereum for dude i don't know why but fucking more liquidity right noobs love litecoin they love it it's crazy that litecoin was the biggest like people are using litecoin people love litecoin it just makes sense to them it's like a penny stock for the masses it's faster yeah they love it litecoin is like my least favorite because they're like oh i can't afford ten thousand dollar bitcoin i'll buy litecoin it doesn't make any sense we need to price everything in sats can we just talk about that shit like everything dude 6.15 it's 615 million i know everlasting riches i knew he was gonna hit me with this shit and you know also little titties just all titties just titties lots of titties you know

what the thing that sucks matt's right matt's right because it should have been sats it should have been sat based meme i was like a little bit i was like it was like a little bit of a slap in the face right wasn't it am i wrong you're jilted you're a little jilted because i liked it i was like uh this is a pretty cool meme i'm i'm with it but but it would be a lot better if it was yeah yeah it was it was questionable you know what 6.15 is it's our uh it's our 589 like xrp You had $5.89. Do you remember that shit? Well, Sats is standard.

I like that one that I took from them. Dude, Stack Sats is the best. Honestly, Matt, if I was some governing body that could give you an award, I would suck your dick and give you an award right now. Don't suck my dick. I'm going to. Hey, podcast listeners, I'm about to unbuckle Matt's pants. And we're getting into the after hours part of this podcast right now.

Buckle in, put on your sheep belt, and make sure you have your helmet on. No, but seriously, StackSats is the fucking greatest meme. It's the greatest. We need to make dollar-cost averaging sexy. It makes HODL active instead of passive. It's the fucking best. You don't want to just buy and hold. You need to accumulate.

You need to increase the stack. No, and it goes back to something I was touching on earlier. Fuck bitches get money, stack racks and shit like that. Subconsciously, you need something... But that's why we need the jewelry. Where people just innately know, like stacking sats, like, oh, duh, I've got to buy a little Bitcoin. So are you still against the jewelry? No, the jewelry.

I'm not going to buy the jewelry. It's not for you. I will acknowledge that it will be bought by others. It's not for you, though. But it's good for the virality of the... I just don't want to be the impetus for that. Maybe we'll sell some. It needs to go in the hood.

Maybe TFTC should be the people who do the... This is something that Bitcoin can enable. Something like Lightning Network can enable. If you contribute X amount of stats to this show, provable by these invoices, you can get a banner that says you are a... A banner? Or a piece of jewelry.

No, I want something that a rapper can wear around his neck. Hey, I think Rodolfo is working on it because we reached out to him on Twitter. Oh, yeah. Rodolfo, every time I get drunk with Rodolfo, I try and get him to make this piece of jewelry. dude by the way rodolfo lower the price of your clock like i want that clock super fucking bad but like it's hard to make margins are tight like i can't afford it man he's not making much no i

know he deserves listen he deserves to sell that clock for the price it is but i fucking want that clock and i can't spend four grand on it that's just how it is man but in bitcoin terms the price keeps going down i know it's true so that's like an important thing to keep in mind i want that clock so fucking bad just wait it's a hot it's a hot clock it's a hot clock i'll buy the clock in like five years it'll be but he's only gonna make 500 he'll make me one i think i think if you make new ones i'm not buying that clock rodolfo so what do you think like going forward are going to be the main impetuses for pushing bitcoin into people's minds like do you think bitcoin is going to be forced onto people or

do you think bitcoin are going to come to bitcoin i think bitcoin's going to be forced on people what the fuck why people won't act without fear people don't think about their monetary sovereignty nobody thinks about that but like forced by option like they'll have no choice i don't mean like by us yeah they'll have to think about it because the decision they're handed because of circumstance they're gonna be forced by circumstance you know it'll be too late at that point like it's like mr robot when they have like you know e-corp coin and is mr robot the rubric basically you know honestly they got it pretty close like it's gonna be it probably won't be a hacker that takes down the system the system will just have it will have like a ridiculous recession you know the thing is

like if you would have invested in property back in the early 70s like people would have thought you were crazy you know so people think we're crazy now for you know like if you would have bought property over across in manhattan people would have thought you were insane they think we're insane now and soon we'll be proven right and then you know we're like 20 years out from people being like i should have bought property and then it'll still be a good time for them to fucking buy property but they won't do it so it's just a cycle that repeats like most people are not going to be saved it sucked noah went around talking about the ark and was like hey listen all you dumb motherfuckers get on my fucking ark i want you to come i don't i'm sick of these

goddamn penguins and these fucking you know camels whoever i got on this ark you need to come on this arc too okay get the fuck on this arc and they were like hey noah's fucking crazy he's a crazy dumbass fuck him so you're saying it's gonna rain for 40 days and 40 nights and then it rained but i think even if you're late if you're late bitcoin is still it's it's one of those things that doesn't matter what time you get in can we say that no one's late like that's what i think yeah no one's late yet well definitely not yet but maybe ever i think right maybe ever like is is there is is there ever a late time to like have like a digital cash you know what i'm gonna say spend online where no one can block you and you can just transfer

your wealth and hold your like star trek credits motherfucker like you know i mean in real life all the sci-fi had credits they all have they always just default to credits it's a galactic bitcoin you have so many galactic credits you know in your mind but that all assumes a central authority to well in your mind how do we fail how do we fail in your mind how do we fail in my mind apathy that's how we fail i think we fail okay in my mind i think we fail because we succeed and then our great grandchildren don't give a fuck and then our great great great grandchildren really don't give a fuck so this is the meme uh what is it uh hard times create hard men exactly it's the same meme yeah yeah like good times hard men create good times

weak men weak men create bad times bad times create good men i think that is a cycle that is inherent to humanity and we cannot rid ourselves of it like for at least the foreseeable future unfortunately it is very unfortunate that said i think that like i think you know i have two girls i think they're gonna grow up and be like you know you know daddy was part of this this thing and you know he he was on this you know podcast with these guys like you know i i think they're gonna have some pride in it and they're gonna carry the torch forward and then i think their children carry the torch forward and then i think their children would be like what was the thing and then you know apathy in terms of apathy like if you look at rich people

the children have all sorts of different issues and whatnot but one of their issues is not protecting their money that is one thing that there's an innate human trust on babies most wealth is lost by the third generation but no but regardless of that is like they want to try and protect that money as much as possible right so if protecting that money is you know running a full node and and and knowing what your obligations are as like a full bitcoin citizen like maybe there won't be maybe the apathy is built out of the system because of the financial incentive basically is is is that they're trying to protect their future wealth and that's the one thing that they do truly understand is is that they want to keep that money that they they just walked into

or born into or whatever i wish you were right but i think that we're going to be you know we're to be living in a future that's much more similar to our current reality where they have all these you know high time preference options to be able to spend their wealth and things seem like well i spend it over here i can make more into the future and those things are hallucinations they're they're an oasis right like they're not real and uh so bitcoin doesn't fix that bitcoin doesn't fix humanity it really doesn't like it it it puts us back to who we were you know like the last like 200 years 100 years of centralization have been have been uh you know a fluke in humanity's history but we're going back to how it used to be like right like all this like talk about like yellow

journalism right like oh like oh you know it's all fake news that's just fucking yellow journalism man it was always yellow journalism because you had to fucking sell newspapers right and then let's get into the conversation of is our current condition like worth it like is working in a cube from nine to five living that soul-sucking life crunching excel spreadsheets is that what we're fucking here to do like hell no like and that's like matt what you were alluding to earlier like does bitcoin fix that like i think bitcoin can provide the structure from which we can get away from the the cube life right like you can accumulate cap what is the cube life at the end of the day you're living paycheck to paycheck we're not gonna need humans for cubes because

we'll just have robots right we hope well we hope but somebody's gonna but before that like i'm even talking before that point like if you are working in a cube if you are working nine to five like realize the mechanics of your being what you are doing like you are and i was there like i can only say this because i'm living from experience like you are a cognitive machine punching numbers into a spreadsheet you're a fucking cow in a field grazing grass you know what i mean and i don't want to get too like heavy or like for real depressing here but that's like what like what are we here for what the fuck are we doing what are we here for like is it to explore new realities that bitcoin can create like that's what i believe we think we're here for but like at the end of the

I don't think we're here to plug numbers into a spreadsheet and even if you are putting your your Neck out on all in with Bitcoin and being like oh, this is something new that may not be Palatable to most people but fuck it like this is something that seems better than what we're doing now And that's what I'm willing to risk it for that biscuit. That's where I'm at Bitcoin at least makes you carnivorous again where you're like you're a predator and you're like you're gonna take down the big stack and then you're gonna fucking rest and then you're gonna hunt and kill and take down the big stack and then you're gonna rest like at least you're not gonna be like some fucking grazing animal in

a fucking pasture like ready to be fucking shot with that stupid gun from no country for old men you know what i mean like at least you're not that at least you're not subservient to them at least you're your own person no matter what happens chips fall where they may you know well That's what I worry about, though. Are we those people, or are we just... Is that some romanticism that we hope we get to? Like, are we still working with some weird framework? Man, I fucking feel like it right now.

Like, I fucking feel like we're those guys, you know? Like, that we have high conviction, and we're changing the landscape. Is it romanticism? I don't know. I have millions of dollars at stake. Matt doesn't want me to say it. aware we're stay humble stay humble matt doesn't want me to say that shit but i want you fucking fuckers to know i'm risking it for the biscuit okay i'm risking it because i believe in

this you know what that is to me and my family is that is like a very nice what does your family mean to you everything what is your family is it you and your wife and your kids me and my wife and my two daughters and i basically have no one else so it's just my immediate family like my family of origin who i created like that means everything to me and i'm risking part of their sovereignty and their financial future for bitcoin which is like it sounds crazy you know i should be putting my money in stupid etfs or some gay shit like that you know about bonds i should be buying fucking negative yield bonds like a bitch like somebody who just like a fucking cow just goes it just fucking eats the grass that's what i should be doing i refuse to do it because

for one all right here's the thing investing aside i fucking love being right like i fucking love it great it's the best when they tell you like in the bear market when they're like hey you're gonna lose all your money and then the next price is gonna be you know 300k or some shit and we're just gonna be there like suck a dick suck it and they're it's the best feeling ever i'm in it for the tech i'm in it for the tech i'm in it for the tech too like i fucking love to be right i don't even care about the paper gains i don't care what i can buy with the money i fucking love being right i love it it feels so good it feels so goddamn good this is primal it really is so primal like because everybody told me i was wrong and i was like

fuck off i have i have the same visceral feelings that you do how are we wrong though like i that is always my biggest question is how are we wrong because we're not wrong we're just tuned in like destruction is a fucking loud act destruction is loud what are we destroying are we destroying like the current system is going to be destroyed because it can destroy itself like it's like a decaying tree and we're like a bunch of little fucking uh mammals who are at the base of this tree being like this tree looks decayed and everybody's like that tree has stood for a thousand years and we're like it's gonna fall any second now and they're like no it's not it'll always be here and we know that it's gonna fall and when it falls it's gonna be a loud noisy act

and what we're looking at is a sapling that's quietly growing in silence that's going to take its place and that fucking sapling is bitcoin okay suck a dick i can do analogies to ben hunt ben hunt came on here and analogized like a motherfucker i can do that shit and what you are is a person who's tuned in to the silence you listen to the silence right no it's i feel like uh we're at uh you're smart marty you're smart as balls i feel like we're in zelda ocarina times right now we're at the the daiku tree right that's what bitcoin is like the little daikon tree that's a fucking amazing reference but it is uh no but i agree i agree with your thing like it is and i'm being a little antagonistic in my question framing here

because i think we see eye to eye on all this shit like i do think that bitcoin is the impetus that forces people to think about our current condition in a way where it's like whoa what the fuck are we doing like why are we doing it like that's the craziest thing about what's going on right now it's like we've never had more access to more information in an easier fashion and nobody wants to question anything everybody just wants to go at least in my observation most people want to like just go about everything like oh this is the way things are this is the way the world is and it's like it's a fucked up world i'm fucked up right now it's like plan b's thing where he's like uh you know in in the weimar republic like in germany like they thought that

everything was increasing like they thought their wealth was increasing well that was the crazy thing talking to mauricio last week in venezuela and that's what yeah there's like the gardener story where like the gardeners are coming back with like i love new york t-shirts yeah and they're buying cars and the fact that the car is going up in bolivar prices like like if you sold the car on international market and like you use the car as a currency would have deep depreciated in purchasing power but in venezuela the amount of bolivars it cost to buy that car went up over time so people thought their investments were oh my god store value yeah they thought it was a store value but people people think that shit in america too like we act like we're superior we're better

no you fucking talk to your grandma or some shit and she's like i'm not buying that shit that shit costs eighty thousand dollars and you're like yeah but it's like eighty thousand dollars isn't that much anymore you know it's like it's it's what it's what sixty three hundred dollars used to be to you you know like we're not better than anybody we're experiencing fucking inflation right now too dude i think about my grandmother my grandmother is like a boomer she just graduate or graduated she's just graduated from high school graduated grandma had some weird uh that's a weird time last night no but my grandmother retired like five six years ago but it's like she retired and now she's even like

do I have to get a job do I have to like get back into the workforce like that's the crazy thing of our current condition is everybody's been fed this mantra like yo you go to school you get a degree you get a career you save

up money you get a retirement you get a pension and you get to live into perpetuity and then you die train your replacement but don't make a fuss die in quiet don't have any children because they increase climate change i saw some fucking dumb shit when i was walking around here williamsburg and it was like ow this is re-kashmir it's like fucking one-fourth the carbon footprint of kashmir i was like

fuck off fucking who cares like who if the planet exists but we don't exist fuck the planet like the planet can fucking you know die off as far as i'm concerned like if we're not on the planet the planet exists to serve us dude the planet doesn't give a fuck about us it'll be fine the planet like whether or not we destroy it we will never destroy the planet number one well yes we will already because of bitcoin you know that you know that as a fact the planet will destroy us what on both of you the planet will destroy us

long before we ever destroy the planet I don't know I think we might have to like evacuate hey what about Greta Thunberg bro you don't think

you don't think we'll have to evacuate at some point even if we do evacuate there will still be we'll go to like a better star system even if we go to a better like the

like your the planet will still have like lava flowing through the middle of it but I think like maybe like the plebs will live on earth

and then the rich people despotic like you in the future too it's just the sci-fi books you know what this is what makes the pot so good is like my whole ideology is based on sci-fi mad is eternally pessimistic and marty is eternally no i'm optimistic i'm just not optimistic about the planet earth that's all i but i'm optimistic for humans i think humans always figure out a way i do as well we can't not we gotta fucking survive and thrive you know it's like we can't not yeah we're trying to find big titty bitches wherever we are you know and are we are we the apex predators of earth though like what if they're yeah 100 obviously but like what if there was like like what would another species above us look like would it be an alien

species probably be robots it'd be like the joe rogan podcast i didn't i didn't watch it i didn't listen i actually watch it now because of the videos i like the i can't listen to a podcast i've always watched it you know what though you guys are like where the rogan podcast was like back in 2012 like when it was like wild and free and you could say whatever the fuck you wanted you know and then then sponsors creep in and you have you have obligations that's never gonna happen to this i don't know man i mean marty's already out here like fucking interviewing jack dorsey and shit like cash apps a sponsor you know what i mean when we get 10x when we get 10x bitcoin price like we can just run on donations we won't do i don't think we'll need to have

sponsors i also think 10x don't 10x bitcoin price is when jack dorsey starts stops kicking me off twitter like i think that's when he's like free speech twitter for everybody like fuck it like you can say faggot if you want to like it's okay dude twitter won't be twitter is i and i say this sadly as a shareholder i i don't think twitter is long in this world i think that no i know i think the key to twitter discourse is that you can have um like pseudonyms in in the discourse so people don't feel like they're exposing their identity and that that that gives a more honest discourse we get we get things that you would never hear otherwise and all these centralized platforms like facebook and twitter are pushing towards this kyc future yeah um so we will see

stuff like mastodon eventually take off like unfortunately i fully agree with you uncle uncle marty's drunk right now but i want to interject and say after having sat down with jack dorsey looked him in the eyes and this is something i'm very big on personally is like i like to look people in the eyes i watch that it's one and only tales for the group you can watch like getting get an essence of it like looking him in the eyes like i think he's down for the cause oh like twitter like twitter in particular like we're talking about twitter but he knows twitter can't scale well well this is what well let's first before we go further in this conversation let's like separate this from like jack dorsey the individual these products as

they stand like twitter in my mind has been co-opted to a point where and like i saw this in jack's eyes when i was talking with him when i recorded that episode with him like i looked him in the eyes he was like he's very nostalgic about twitter as a protocol almost and right i think that's what draws him to bitcoin the hashtag he was like the users were telling us what exactly exactly yeah and bitcoin is still pure in that essence and that it is still like a can i tell you i want to tell the bitcoiners this shit like i got a meeting at facebook as part of my current job like we're running influencers and i don't humble brag i don't say that humble brag i say that shit to let you guys know about the fucking the shit that goes on there like they don't know

what the fuck is going on they don't know what they're supposed to do they're trying to catch they're trying to bottle the wind and you know find what they're supposed to be doing and they have no fucking idea and they have this huge campus it's a mile long uh it has all these restaurants that are all free for employees you know i walk by zuckerberg the whole thing and did you say hi no he was like way off and he has security guards around him and shit but like when you sit when you sit in a meeting with the facebook employees it's a tournament of intellect where you know if you use a word like what was the word i use like fucking obfuscate or something and the other person was like this motherfucker just said obfuscate like i'm gonna have to say

mirage right like it's so it's it's so stupid and they don't know what they're doing and they don't know where they're heading and you know you're you're asking them like hey i'm trying to build a product on top of your product like which is shifting uh quicksand like what the fuck do i do and they're like here's the thing we feel you we feel you guy we have no fucking idea just wing it you know you're like okay cool so these platforms are not long for this world like they're gonna be demolished uh you know ultimately is it like an aol like system at a different part of the stack for what it would be a complicated aol system like it's like aol if aol had figured out how to embed itself but yeah i mean it's well that was it's archaic it's it's it's they don't

know what the fuck they're doing they have no idea how to run a protocol they have no idea what what the fuck they're doing and it sucks as like somebody was trying to build something on top of their platform like you don't have one of the channels i run has two million followers on their shit and uh they can't give me any inclination of where things are heading and so i'm like what should i do should i go to youtube should i abandon ship you know i don't know well that's sort of been like the interesting thing about facebook in particular is it's grown into like a very big ad network probably huge only right like google's the only rival to it right now at this point and they have a they basically are gatekeepers to who and who cannot advertise

on their platform and facebook in particular like is in this weird spot where like zuck is such a weird front man like you can tell oh my god we're smoking meats we're here we're smoking meats poor guy that one live stream is just kind of killed on that one that shit was awkward like it was super awkward you just can't sweet baby rays they got the second they started fucking with the time feed like the timeline and shit well no that's well is where they they became liable here's the point is like the face facebook did it first they did the algorithmic news feed and now twitter started doing it so now they're responsible for the content that's the key right

so i found my train of thought i'm sorry uncle marty's really drunker now but the point i was trying to make is that facebook was knowingly marketing their future product as hey we want to be the complete internet for people around the world like when you go on to facebook like that is the internet you do not go from facebook to twitter to a chrome browser to search it you go to facebook and you find your daily weather you find your stock price they were trying to be a walled garden exactly and that is like their which was yeah and it just doesn't scale they were trying to be an intranet basically you know but that is what like blockchain if you will but the point i'm trying to drive private blockchain sorry but that is what facebook wants to be at

the end of the day is they want to be that walled garden closed loop experience of the internet they want to be the internet of what people interact with it was like kenya or someplace like they think that facebook is the internet forget where it was but it's like when i know like they tried to roll out a plan india right that was like free internet but only if you only use facebook it's one of these african countries like the people there think it's it's facebook is the internet well they've done they've done multiple campaigns one of which was they launched the satellites which are which are right uh heart like which are giving out internet access over certain geographics.

Marty was showing us with his arms. He was like, the satellites were moving. Like an albatross. I'm going to chug some water and take a piss. How long have we been here? It's been a little bit.

Should we wrap this up? Two and a half hours. I enjoyed this conversation. I think that we have um hit a climax of a bit and and and maybe we should you know end it on top i'm okay with that that's right we're not going 6.15 hours and we're definitely not going 615 that's crazy we have a uh we have a 615 million stats i fucked up i fucked up we have 131 hours and 6 minutes and 52 seconds of recording i see that marty also bought the 256 gigabyte card

uh no gentlemen it's been a pleasure i'm very drunk right now i may american huddle i may have to like edit out some like laps in in thought from this episode but it's been an incredible jump into your psyche thank you for doing what you do thank you for flying out here of course it's been a pleasure meeting you there are there listen boys there are there's nobody there's there's nobody else in the world who i would fly out for free my wife was like how much you getting paid i was like what do you mean you're getting paid i'm like spending like two grand to do this she was like what do you are you serious because she sees me coming back with like you know 10 or 15 000 i was like listen woman you shut the fuck up these men are worth it they're

important i like them their future stackinaires okay satoshi billionaires like mrs hoddle i want you to know that i appreciate you um and thank you for for departing from your husband for a few hours i love that it happened because there was like a tweet back and forth where someone like called you out right yeah and they're like you're gonna you're gonna go on tftc you're gonna fly out there and like that's gonna happen and you're like deal and they're like recorded oh dude we gotta also talk about our fucking our bet we have about satoshi's coins moving in 2020 i forgot that was we have a million we have a tulip trust bet here we have a million me and matt have a million sats because you're an idiot well here's okay here's the thing i don't think it's because

of craig wright or whatever the fuck obviously it seemed like i'm not right no no no the craig wright thing comes from something else that i what's the bet what's the terms both on both january 2020 both me and craig wright have forgotten that there was an original reddit talk forum post about 2020 that we're both talk yeah that we're red it was right at the time that we were both referencing craig and myself and everybody seems to have forgotten it except me and craig and matt was like wisely like hey shut the fuck up that's not gonna happen i was like ah shit somebody called me on it all right i'm gonna have to pony up a million sats but you know what matt is the second sats master and there's nobody that i would rather pony up wait so what's the

terms of the bet when is the terms of the bet are if sush doesn't move his coins by january 1st 2021 i have to send you a million sats so i'm good yeah you know you're basically like three million It's 98% that you won the bet. The funniest part is there was a million people underneath me who were like, yo, give me the same mods. He was like, fuck you, fuck you, fuck you, fuck you. He wouldn't let anyone have the same mods. It's only for Matt.

It's only for Matt. Because of stacking stats. And I called you out first. No, it's because of stacking stats. Fuck your mom. It's because of stacking stats, okay? Questionable. how would you describe stacking sats to the layman okay let me talk to you motherfuckers

about stacking sats stacking sats is the greatest meme that's ever existed in your goddamn plebeian lives you pieces of shit you need to go out and stack as many sats as you possibly fucking can because there aren't many sats left to be stacked okay matthew here gave you a fucking service when he told you to stack those motherfuckers because what he did was he took hodl and he made it from passive to active that's big dick energy y'all and he fucking he told you

pieces of shit to stack those stats and you need to stack them you need to stack them fucking right and stack them fucking hard alright fuck yourselves

I've been drinking Angel's Envy which Bitcoin Tina told me to drink and I drank it Bitcoin Tina go fuck yourself I feel you though dog

like let's do this thing peace and love freaks stay humble stack sets okay