The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - The CBP #193 (Bitcoin Stories)- 100K Vibes, Treasury Strategies Ramp, El Salvador Goes IMF (Bitcoin Podcast)

Episode Date: December 10, 2024

FRIENDS AND ENEMIES Join us for some QUALITY Bitcoin and economics talk, with a Canadian focus, every Monday at 7 PM EST. From a couple of Canucks who like to talk about how Bitcoin will impact Canada. As always, none of the info is financial advice. Website: ⁠www.CanadianBitcoiners.com ⁠Discord: / discord A part of the CBP Media Network: ⁠www.twitter.com/CBPMediaNetwork This show is sponsored by: easyDNS - ⁠⁠www.easydns.com⁠⁠ EasyDNS is the best spot for Anycast DNS, domain name registrations, web and email services. They are fast, reliable and privacy focused. You can even pay for your services with Bitcoin! Apply coupon code 'CBPMEDIA' for 50% off initial purchase Bull Bitcoin - ⁠⁠https://mission.bullbitcoin.com/cbp⁠⁠ The CBP recommends Bull Bitcoin for all your BTC needs. There's never been a quicker, simpler, way to acquire Bitcoin. Use the link above for $20 bones, and take advantage of all Bull Bitcoin has to offer. D-Central Technologies - https://d-central.tech/ Your home for all things mining! Whether you need a new unit, a unit repaired, some support with software, or you want to start your own wife-friendly home mining operation, the guys at D-Central Tech are ready to help. With industry leading knowledge and expertise, let the D-Central team help you get started mining the hardest money on Earth.

friends and enemies welcome back canadian bitcoiners podcast episode 193 about 193 more to go before we finally break 100 000 stay there by the sounds of things my name is joey i'm back from hiatus len is here buddy what's going on it's great to see you back in the saddle again yeah we're finally back together again it's been been a month. A month, yeah. It's 97k, Joey. We were at 100k earlier. I don't know. It's time to slit our wrists, I think. It's done, right? We're poor

again. The experiment has failed. The one funny thing is, it's not showing on mine, but it's showing on yours. The dollar sign is back. So now when the digits hit six, as in 100,000 or higher, the dollar symbol on the block clock disappears. I love it. I have a picture of it.

I love it, man. I saw a bunch of people talking about whether the block clock will work at 100K, including zero hedge, which I thought was pretty funny. Why wouldn't it work at 100K? It works for a million, too. Just another square, right? I got my chocolate milk here. I thought was pretty funny. Why wouldn't it work at a hundred K? Yeah. Just another, just another, another square, right? I got my chocolate milk here. I'm ready to go. How tired are you, Joey? What's the best way to describe the feeling?

The, the adrenaline's worn off for sure. That first couple of days. Yeah. You're really running on adrenaline. Yeah. The kid. She is. She has exited her bundle of joy phase. days you're yeah you're really running on adrenaline yeah uh the kid she is she has exited her bundle of joy phase and is what is her name i i prefer not to say on the air but um she

yeah she i'm happy to say i had a healthy baby girl have you said it before like somewhere in a public setting her name yeah it's on my instagram my instagram is pretty tightly locked down uh is it i had to lock it down after the carraza's appearance went absolutely nuts online because now i have all sorts of indian angry indians mad me about the status of their education um their education grant or whatever anyway so we the the house here busy but um it's amazing, man. I mean, there's a number of different people I talked to and have spoken to before and after the baby was born about what to expect and the things that you can hope for and the worst parts of things and the best parts

of things. And I would say that most of those people were right at some level. The thing that you're just not ready for, Len, for the first week or so is that you just don't sleep. The baby doesn't sleep almost at all for more than two hours at a time. You basically, the max you can go, this is what the doctors say, the max you can go in between feeds for the first month or so, three hours exactly. So Kenzie has been an absolute warrior getting up, feeding, trying to get the baby to go back to sleep without waking me up.

It's been pretty successful. I'm kind of getting used to it now. I can tune out most of the crying. I told you that exactly, that the stomach is yay big when they're born. It's like an ounce or two ounces they drink basically every feeding. And they metabolize that stuff so fast that by the time it's emptiedied again it's only two to three hours and you're back at it square one and rem sleep you don't get it no it's i it doesn't get yeah kenzie's probably not getting it as often as she should but uh she's been great she's recovered really

well from uh from the the surgery and the recovery twins fantastic we have friends with twins so i don't have how i have to imagine it but it's like yeah they say it's brutal so you know that's been them man you know i'll level with you guys and the listeners too like there's been some laughs there's been some tears been some you know waves of emotion like you got to figure the hormonal changes kenzie goes through in the first month pretty wild but she's been rock solid uh the amount of support we've had from family and then even people who've like been on the show uh reached out to me over the break to ask like how the baby was mike campbell uh who i'll mention by name i told him we're having the c-section on whatever day we had it and he he messaged me he sent me an email like that night and was like hey more

important things here like how's the baby everything go okay so i i talked to him and uh joey drop that shirt yeah it's hard to see it because it's kind of my uh dad's club for people are not watching us cool dad's club my sister my sister-in-law got that for me my um mike's uh two whites and a blue mike's uh girlfriend so yeah uh it's been really exciting. A lot of support. And I owe you a big thank you. Because when we were talking about what I was going to do in the lead up to the baby being born,

you said you're not going to be able to do the show. You said it's going to take at least a month to settle in. And you said that there would be no way that even if I tried to do the podcast Monday nights and the other Thursday night show, it's not about always needing the trouble or always needing the, um, the help or like always being troubled with the baby. It's about, you just can't schedule when you're going to be needed and you're a hundred percent right. Anything can happen at any time, uh, where you need two sets of hands on deck. And for the first little while we really felt like that, but we've settled in.

So thank you to you for holding down the fort on both shows. Thank you to the amazing guest hosts we had. On this show, we had Mr. Arnome, we had Boomer, we had Mark, and we had Scott Dietels fill in over the four weeks. Incredible. Big shout out to all those guys. And then on the other show, Mark and Praveen Pereira filled in for me while I was gone.

Outstanding work by those guys. I tried to listen as much as I could. And I know that over the years, we've had some really great guest hosts. But this was really important that we got these guest hosts. It wasn't just like we were sick or away on vacation or at the cottage or whatever in the past. But I really couldn't be there for this. And to all those guys and to you, Len, thank you very very much and to you guys listening and watching you guys are are incredible i've been keeping an eye on the comments and whatnot and i am super pumped to be back uh even though i do

appreciate that i was able to spend some time away yeah joey next year i'm gone for a little while so later next year but you know i i may still try to do it from parts unknown or for parts very known i went back to the motherland so maybe i'll do it from down there but you know what joy we'd have to do it earlier i'm just kind of spitballing yeah because what's it's like uh eight hours six hours so okay yeah like that's it'd be tough to do it for me like a one o'clock in the morning but like we scheduled a little bit earlier maybe it's possible but then it would be the international bitcoiners podcast over that's right that's right well it could be the prelude to what's bigger and better things for all of us right we have we have um much to do you know this year and both personally professionally and now the show too but let's

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Is that the deal? God, it's been so long i didn't even think about the ads you get half off your first round of buys with easy dns so load the cart save as much as you can and uh get on the train with uh mark and team yeah so easy dns is our first sponsor bull bitcoin our sponsor number two and just to give a tie-in to our this coming wednesday i'll be talking to pablo and pablo from bull bitcoin and nathan from bitcoin mentor they'll be coming on wednesday at 7 p.m eastern so pablo will be there and hopefully he'll talk a little bit about bitcoin as well but

i'll talk about it right now because it's a great place to buy and sell your bitcoin maybe you're looking at the price you want to sell maybe you're looking at the price you want to buy maybe you can do both of them or none of them. Either way, you can do it all with Bull Bitcoin. And it's going to be non-custodial. So when you buy with them, they don't hold any of your Bitcoin. You have to send it directly to a wallet as soon as you execute the buy. This is the way you want it.

You don't want anybody to hold on to your Bitcoin. Onchain, Lightning, they got you covered both ways. I'm just checking right now on my node. Four sats per v byte was the last block that was mine that was the average fee very low so on chain is the way to go i wouldn't look at lightning just yet but at least set it up get that ready when times are getting more expensive for moving your bitcoin what else could you do with bull bitcoin besides buying and selling well you could use it to pay your bills with their bill service so if you want

to pay say your cell phone bill or a car payment or whatever you have the ability to pay your bill with your bitcoin look the price of bitcoins 97k you might as well start using it one way or another and that's one way you could use it through bull bitcoin another way you could use it you could start buying gift cards like an amazon gift card a home depot whatever because you know right now it's the holiday season people are buying gifts why not get a gift card and use that gift card to buy the gift for your loved one, your friend or your enemies, whatever you want. Either way, with that, you're going to be using Bitcoin to purchase your stuff. So you're kind of living on a Bitcoin standard, so to speak, all thanks to Bull Bitcoin.

And if you haven't yet opened an account, do so with our promo code below and you'll be given $21 to your account once you fund it and provide all the necessary information. Love it. Decentral Tech is our third sponsor. Len, you got the unit there? Oh, hell yeah. It's here. It's CBP Bid and shipping now. I think the orders are, what was it? 700, whatever. Is that the- Yeah, 70,000, I think it was. But yeah, I have mine. Yeah. If you're in that cohort, you're going're gonna be getting yours soon if you haven't ordered one yet you should and uh even if you don't want to support the show in that way go to decentral tech and buy uh a bitax uh an s9 some heating stuff talk to the guys about how to make sure that you're using your s9 the most efficient way possible get

your board repaired get all that stuff done stats outstanding 1.2 terahash and it was 16 joules per terahash which wasn't too bad for can't beat that man can't beat that like that's you know a couple hundred bucks for a little trinket and uh a lottery ticket that runs every 10 minutes can't beat that olg doesn't have a game that like that and neither does fandueluel or DraftKings. The guys at Decentral Tech are best in the business. We actually have a friend of the show who was just over at the, what are we going to call it? The warehouse, the plant, the facility last week. There was an event going on. It was a Bitcoin event in Montreal.

Right. And then that's where they showed up. I thought he actually went right there. He may have. I think he did. But either way, these guys are plugging away constantly. And I will say that I realize that they're a little behind on the CBP orders, but they're behind on a lot of stuff because the amount of support they're getting thanks to shows like this, thanks to their activity in terms of decentralizing the mining space this is important stuff man we talk about this on the show a lot and it's one thing for you to be a bitcoiner it's

nothing entirely for you to help grow the hash rate in a way that's not corporate we don't like that on this show okay and that's why we partnered with them head over there's no promo code buy something talk to the guys make sure you're doing the best things you can with the mining gear that you have and uh of course you can't beat a cbp bidax say it one more time you know limited edition not going to be another run i don't think anyway maybe but uh for now this is the only one you can get so head over and uh spend some dough man help uh help the boys out len boost i only have one because I'm having some difficulty logging in to my account. And I had to scroll through this. So I had to manually go through.

It was a recent boost. So thank you, Jordap, for 570 sats. He says to help fund a booster seat for the CBP Jet. Booster seat? Yeah. Because you got to bring the little one on the CBP Jet. Plus it's in a boost too? Nice. I like it. Yeah. So yeah, there you got to bring the little one on the CBT jet. Plus it's in a boost too. Nice.

I like it. Yeah. So yeah, there you go. Maybe there's room for the seat, the booster seat on the jet. But I don't think we're going to get one, right? When did we discuss this? Not at 96,000. We got to wait until 196,000 minimum.

Even then, first thing first, we're going to go public before we do anything. And I'm just going to just lay it out there right now right now i'm gonna dilute the fuck out of the company so i would suggest don't invest it's a penny because you are gonna get wrecked in the process but yeah they're just gonna dilute dilute dilute and just keep doing that to buy more bitcoin i don't care i love it that's my mo i'm talking to hayley wel Welsh's people about how to best take CBP public. So where do you want to start? Should we begin tonight's episode? We'll talk about something I don't have much to say,

but you probably do because El Salvador is Financial Times, I guess, for some reason. Yeah. Broke a story. And in the past, Financial Times has been wrong. So potentially they're wrong with this one. We'll see how things play out. But right now, it's the rumor that El Salvador is getting cozy with the IMF. And there's going to be a $1.3 billion loan that is going to be handed out from the IMF to El Salvador.

I'd be thinking it'd be the other way around, how successful El Salvador has been for the past few years. But no, El Salvador is going to be getting it'd be the other way around how successful El Salvador has been for the past few years. But no, El Salvador is going to be getting a loan from the IMF. And with that, there comes some. There comes a few things that they have to do. So they're going to basically stop the use of legal tender of Bitcoin legal tender within El Salvador. That's interesting if that's going to be the case. They're saying that there's concerns with Bitcoin being used in the way it is and then buying Bitcoin,

it creates some financial instability or potential financial instability in El Salvador. But I mean, if you're looking at it from today's point of view, it's been a raging success, everything they've done with Bitcoin, maybe the adoption rate in terms of using it as a currency has not been much of a success but buying it and buying it on a cheap

and mining it and mining on a cheap certainly has been it's been a great success financially for them and so they have these unrealized gains they could take advantage of if they want if not they could borrow against it or just hodl it and just hang on to it. But still, it looks like there's going to be some changes going on with El Salvador. We had one country that has been using it as legal tender. And if the Financial Times is correct, the number will be going down to zero. But we know more countries out there to have Bitcoin as legal tender. Well, it's not that they don't have it as legal tender, right? So the article in question that the IMF is making them back off of is forcing merchants to accept it as payment.

Fine. I personally don't understand that anyways. Either we're winning because this is the best money and merchants want it, or we're losing because we're forcing people to accept it vis-a-vis government decree. There's a name for that second one, by the way, fiat. And when I look at the whole story, I've looked in a couple different places. I don't really think FT is painting this in a difficult or demeaning or dishonest light. They make note that Bukele's done a great job, even though they don't love the means of cracking down on violent gangs and making sure crime has been lowered.

He's doing well with the economy, things like this. The other thing is that Bukele didn't give this concession just for 1.3 from the IMF. It also opens up, I'll read from the article, the deal is expected to be finalized in the next two or three weeks. The deal is expected to unlock another $1 billion of lending from the World Bank and $1 billion from the Inter-American Development Bank over the next two years. Now, a friend of the show, SB and I were talking this morning, toilet talk this morning while I was pushing a log.

And we're kind of going back and forth about why they would do this. And I do want to hear his comment, but I think what he would say and what I'm going to say is if you can get cheap money from the IMF and you don't really need it and the concession that you make is not really that much of a concession, why not do it? He's done, and I'm really changing my tune on Bukele here because, you know, I, I've been pretty tough on him over the last few years. He's done such a good job outwitting and outgunning every NGO, you know, sort of fake support NGO out there, whether it's the IMF or, you know, you name it. Why isn't it possible that he's doing something strong here, taking the cheap money on favorable terms. And if all he had to give up was that one part of his Bitcoin bill,

then I'd say maybe it's a win. Plus, you know what I couldn't find is their stipulations on what he can spend it on is the money earmarked for certain things. The IMF is notorious for that, but I don't see any in the story. So if they take that money and say buy Bitcoin or use that to mine Bitcoin. I didn't say it, but that's

that is on my mind for sure. It's on my mind for sure. I'm almost willing to bet that there's going to be something in there that prevents them from doing that. If they're going to go to this length to say that their merchants are no longer going to accept Bitcoin, why wouldn't they put that in the wording for the borrowing of the money or the lending of the money and somebody mentioned and i'm going to butcher his

name twain twain whatever he's in one of our chats he mentioned or he wrote that the terms are stipulated or it's dictated by the imf yeah so if they want to raise rates and raise rates aggressively they could do that depending on how the deal is written up but if they have that leeway and they decide to do that what does el salvador have to do at that point what options do they have aside from liquidating some assets a la bitcoin to pay off the debt that's been it's now going up in terms of servicing it and so this could be a 40 chess move by both parties to try to outwit each other maybe in terms of how this is the financial times in the past they've been wrong i'm not saying they're going to be wrong this time i just want to wait to see what happens i want to see how the terms are if indeed it's going to be a

borrowing of money why couldn't you just go to michael saylor and borrow some some money instead right like there could have been an agreement and just borrow some money straight from saylor and then mike's doing zero percent right just didn't you know or spit up a company going the other way anyway the other piece of this is that there's at least some adjacent speculation here that the imf is not long for this world because the Eurozone and Europe as a sort of unit, um, unified actor on the global stage is not long for this world at this point. And so maybe there's something to that too. This guy's going, okay, I'll take the loan knowing that you guys are going to be in very hot water over the next five or 10 years. I think there's actually

a pretty keen chance that happens like a significant possibility that happens. So there's that too. And the other piece, Len, is if you can get a 10-year loan, what's Bitcoin going to be in 10 years? Is it going to be 400K? A million? Is it going to be more than that? Global liquidity, is it going to be increasing or decreasing? Is he saying to himself, I'll take the loan 1.3 billion, use it now, and watch the value of what I buy appreciate while the value of the currency declines? It's all sorts of stuff. Other thing too to consider is the IMF. They don't have a military arm, but America generally is the military arm

and the soft power arm of all these institutions. IMF doesn't have that. America doesn't seem to care as much about the IMF as it does other NGO branches, UN adjacent vehicles. And so maybe these guys are just saying, like, we don't care how this goes over the next four or five years. We want the money now for something important. And it could be anything, right? Like, why not? Is it possible they build out like an energy system and then put mining on it?

Is it possible they do continued crackdowns on violence and gangs across the country? Like, it's possible they do anything. And all that stuff would be good for two things. Their bonds and the resiliency of the bitcoin trade right so you know that old that old meme kind of holds true here right everything is good for bitcoin maybe this is just another thing on that list of everything i don't have enough data to give an answer to this but how many raging successes have then been from a country that went to the imf with their hands yeah zero zero the answer is zero i mean i i would have probably said but i don't know maybe

there is some so the just that alone is leads me to wonder hmm this is probably going to lead to not something good for el salvador in the long run but yeah it's i could be wrong i don't know i don't know i don't know where i come down on all this i i do think it's an interesting story and uh it's definitely something to keep an eye on because this guy has been outspoken not only about his passion for Bitcoin but about how he thinks all these international organizations are cheating people.

What is to say maybe there was a pseudo threat against him saying, we'll try to get rid of you if you don't do this? Oh, maybe. I don't know. We've talked about that before too, right? Victoria Nuland shows up. She's not there to try your signature cocktail.

She's there to overthrow your government, right? I don't know if it went that far. It could be like an e-girl or something that just shows up, right? She tries to. Who knows? Let's move on. Let's talk about one of the other big news items that took place this past week and bitcoin hit 100 000

per coin against the us dollar first time ever happened never cracked a spagical number before maybe if i don't know even with inflation and never you got there anyways block clocks are all over the world we talked about at the beginning of show they omitted the dollar sign because there's only six digits uh that could be displayed in the block clock plus the btc in per u.s dollar um so yeah so for people who are wondering what happens with a block clock when you get to a hundred thousand the dollar sign disappears so that's what's happening the dollar sign is disappearing slowly but surely the question now remains is what happens with the people that had laser eyes? Because there's people that had laser eyes, and they said laser eyes until 100K. Well, we hit 100K.

Now, I know that we're not there right now. We're very close. But did they get rid of it in the following days, weeks, months? I don't know. I know you didn't really care much about that initiative. And first, I didn't give a fuck. I do not give a fuck either way. But still, a lot of folks- Did you ever have them? I don't even know if you had them or not no i never had my picture i've

always been you're like a mug yeah the mug yeah i've never had a picture of me there so like i could put a laser eyes on that but i don't know how it looked but i never did either way like it's just as you know another thing that people are gonna have to do they have to change their profile pics but the latest pump and prick in this Bitcoin price. It's interestingly enough It seems to have been correlated with the release of the McRib. Not sure if you saw this. Hmm So the McRib and you know came out last few times it's been released a Bitcoins pumped so someone proved that provided a chart to prove this

December Bitcoin is pumped. So someone provided a chart to prove this. December 2020, McRib came back, Bitcoin pumped. Huge. November 2023, McRib came back, Bitcoin pumped.

December 2024, McRib came back, Bitcoin pumped. The only exception to the rule is 2022. And that happened October 2022. And that was near the bottom. We almost did 15K at that time. But that was the McRib farewell tour.

So maybe, you know, it's... Either way, people should be, I guess, removing their laser eyes as of this, maybe replacing them with McRibs on their eyes, so McRib eyes. You know, if you rearrange the letters of Satoshi Nakamoto, you get McRib is back. Oh, fuck off. No, you don't.

But it's, you know, you know you can pull out a dinner party maybe after a few beers and people might buy it i i do you care about 100k how much you care about 100k i do it's a symbolic number that we hit think of all the normies out there that now look at it and i have zero friends none i have I have no fucking friends, but still, I mean, I was contacted by some people that are not friends and talked about Bitcoin. And this past week, and I went to a dinner party with family and God, I'm fucking,

I'm insufferable. Like, I don't know why anyone would hang out, but you know what? Like at the end of conversations, if people are like, they're going to buy Bitcoin just because I don't conversations if people are like they're gonna buy bitcoin just because i don't know if they're just they're just pandering to me or i just don't care like i

think for bitcoiners for bitcoiners 100k is bittersweet right marty bent really put this well over the last few weeks 100k is the end of the beginning in Bitcoin. There is no more, is this going to work? There is no more, this is a Ponzi. There is no more, could Ethereum flip Bitcoin? There's no more of any of that. There was one winner, it was Bitcoin and there's nothing else to this. It's the end of discussions about, well, are Bitcoiners really right that hyperinflation is going to cause problems with the currency? Are Bitcoiners really right that the only way to preserve your wealth is to have digital scarcity? Are Bitcoiners really right that all the things that worked for 5,000 years, whether it's gold or real estate or whatever, to preserve wealth across generations,

are all those vehicles going to become obsolete and be run over by Bitcoin? The answer is yes. The answer is yes. No doubt about this at this point, in my opinion. This is what Bitcoiners think. I have friends who know me very well and have known me for a long time. Some of my best friends, some friends I've met in the last 10 years all know I'm in Bitcoin. And I got mixed messages. I get messages much like you, much like anyone watching and listening to this program, I'm sure also does. Anytime the price dips 15%. Oh man, hope you got out. I told you not to put all your money in there. You're too concentrated. My own father, when I bought this house two years ago now, or a year

and a half ago now, told me that I should sell Bitcoin to help with the down payment. I declined. I said it was a bad idea. Had a couple of not quite arguments, but not quite discussions for the back of the church about that. And to my earlier point about some people hating and some people just watching, I have people in my life now who are asking me when I'm going to sell. Man, $100,000, you should sell some. Take some money off the table. And it just goes to show you how the normie doesn't understand what Bitcoin is still. They still only talk about it in terms of the dollar value. They still only talk about it in terms of how much did you make

and when can you get out? They still only talk about it in terms of, well, at what number are you going to sell back to fiat? There's never any thought from them on, well, are people going to take Bitcoin for a house if you want it? Are people going to start taking Bitcoin for cars or for any other service, for different things of value that are not grounded in fiat currencies, grounded in skills or grounded in education, whatever? There's never any thought like that from them. And when I think about how this could be possible, it goes back to some of the stuff Saifedean says in his books and his tweets and his podcasts and other people say it. You and I have touched on it, I'm sure, over the years. People don't know what money is.

They don't know what value is. They don't know what wealth is. When they look at wealth, they think, yeah, I have this house, this liability that's 80% of my net worth in a lot of cases, sometimes more. Um, it's the most expensive thing I have to deal with every month. It's the most stress inducing thing. I have to keep it top of mind. Every time I look at the emergency fund checking account, that's, that's wealth. No, it's not wealth.

Um, you know, when I think about wealth, is it all the gold in my vault? Is it, uh, the, the gold gold in my vault? Is it the gold chain around my neck? Is it my car? Is it the artwork I keep? There's arguments made about all these things. Is it watches? Is it diamonds? Is it...

But the thing is that none of those things offer all the properties that Bitcoin offers thanks to its digital nature. And now the argument that Bitcoin doesn't offer the value prop, the scarcity value prop, those arguments are gone and normies still don't get it. So maybe the next question we should talk about on this show and something to think about when you're talking to your friends is what is the thing that's going to make them get it? Because all I see is people who don't get it, but like the price. Those are the only people I see now, people who don't get it, but like the price.

And I just don't know at this point, after the years of inflation, years of currency debasement, years of printing, you know, like fucking Trump says something on TV you don't like, and the US sends another 2 billion to Ukraine, 2 $2 billion to Israel, $2 billion to whoever. The money is free for everybody except you and still you don't understand why I don't want to sell back to the printed shit token that the government produces that I have to fucking work for.

Why would I ever want to sell back to that? What would have to be so fucking wrong in my head that I would go from the hardest money that's proven itself over 15 years, that steamrolled everything along the way, back to fiat, back to here's $250 from the federal government. Here's $250 from the province. We're taking away the GST. We're giving away money to this country. We're giving money to immigrants. We're putting people in hotels. We're taking in immigrants from Africa and treating them for HIV instead of testing them.

The money's fucking free for everyone except you. And still, you want me to sell back to fiat. You don't get it. And I think, Glenn, that honestly, at this point, some people just never will never will it's a hard thing to get and some people will just never understand it they'll take it they'll they'll look at the price they'll look at some exchange rate somewhere but they will never actually get it the same way that they don't get what dollars are now when you first got into bitcoin how long did it take you to realize what bitcoin six months to the point where six months sorry six months probably okay for me it was much much

longer so okay let's say six months now how long has it been since we've had hard money it's been 54 years people there's a number of people that have never lived enough time that in an environment that it was hard money. They may have been born in the sixties, but they just don't remember shit. So there's a lot of people who just don't understand what hard money is in unplugging from the matrix takes a lot of effort. So that's all they know.

I'm not trying to justify what they're saying. It just is the reality. They are just, this is all they know. Yeah. They've been spoon fed this their whole life. And it took you six months after first buying Bitcoin before you figured it out.

These people aren't even at the point where they bought Bitcoin. It's crazy. And the other thing, the one other thing I'll say is fuck all the people who said this was luck. Fuck anyone who says that. Fuck anyone who says that we got lucky. Because to your point, I'm plugging from the matrix and that might be a little bit hyperbolic, but there is something to say about going from sort of putzing along in your day-to-day

life, smoking joints, watching Netflix, jerking off and going to bed, to all I care about now is hard money and how to get more of it. And everything in my life otherwise looks to me to be at the very least needing a skeptical eye and in the worst case, an outright effort to deceive me, to keep me in line. That's hard to do. Not only is it hard to do because it means you have to have disposable income. You have to have curiosity. You have to have all these things. But also because it makes you, like you said earlier, I know you're just joking, but man,

like I've had some fucking hard conversations with people that I really like at work personally. You know, people in my family, friends of mine, friends of my wife's friends and my dad's friends and my in-laws, you know, like everyone knows you're the Bitcoin guy and you go through these phases in Bitcoin, right? And the first one is a hundred X. We got it. We're going to go to the moon, right? We bought, you know, when you and me started looking at this, it was like $7,000, went to 20 and then back to three for like a year or whatever it was. I forget now, but you know, you have to make it through those, those times. right? And during those times, you have two choices. Either you submit and bend the knee to all your friends who are still at the bottom of the bucket and trying to make sure you don't climb out, or you look at this new group of people, right? You stop looking

at the shadows on the wall and start looking at the guy behind you casting the puppets. And you think about, man, maybe there's something to this. I have to dig more into this. What is money? What is fiat? Why is the money like this? Why are we debasing? What is inflation? Why 2%? Those are hard questions to ask and they're difficult answers once you see them to accept, like you said. When you factor in on top of that, that now, especially in Canada, a country that is heading toward third world shithole at a rate you don't even see on the fucking Autobahn. in Bitcoin or even stocks in a lot of cases and are stuck in neighborhoods and jobs and schools, communities that don't feel like they're benefiting from investment on their part. And so all these things together put you in this dire situation. And instead of trying to get out

of it, you're just trying to slog along. You're trying to make it another day. That's a place you can't be. And that's the place a lot of Canadians are. This was nothing but luck is a crazy thing to say. All the investigating, all the reading, all the podcasts, what does that mean? While you were out partying, I was learning the Bitcoin, right? While you were out smoking dope, I was learning the Bitcoin. Every ounce of money or every dollar you spent on jewel pods and porn and Netflix and beers and whatever, I was pumping it into Bitcoin because I think that I knew what I was doing. I thought that I was onto something and it turns out I was right. And that's what you got to start saying to people. I wasn't lucky. I was right. And that's what you got to start saying to people. I wasn't lucky.

I was right. And that's all there is to it. That's all there is to it. You don't have to talk to anybody. You don't owe anybody a shred of polite interaction. You don't owe anybody a shred of, you know, black tie etiquette when it comes to whether or not they say you were lucky or you just, you just happened to catch on or, well, you had all this, you had extra money.

Or one thing I've heard before is like, you know, my, my dad helped me through school. And so he's like, you know, I, I've heard people say, well, you had money to pay your loan. Yeah, maybe. But like, what is the, what is the end game of all this? Right. Like is, is everything that my bloodline has ever done lucky, you know, for me is my, is my decision making that's going to benefit my daughter, my wife there, you know, her kids, is it all luck? Is it all just luck? No, it's, it's, it's quality people making quality decisions, passing down quality genetics over and over and over again until we get it so right that it's undeniable. And until, to quote John in the chat, it makes you hated and hunted. And we're seeing that now.

Talked about this many times. In Canada, everybody wants your fucking house, right? Prime Minister last week announcing that airbnbs will be targeted that's airbnbs is just another way of saying private property targeted in vancouver and other places europe talking about more and more money to wars in which small countries are sending good men and women of all ages to the meat grinder for a cause that is no closer to their heart than it is to yours or mine. Currencies that are being debased constantly and at an accelerating pace because we refuse

to get spending under control, because we refuse to stop spending on pet projects, because we refuse to stop hallucinating that windmills are going to save the oceans, I'm out. And you could have been out too. But instead, what'd you do? Watch Netflix jerked off, rolled over, farted, went to bed. Have fun, man. You were wrong. I was right.

And I don't care what you think anymore. I'm not going to try and convince you to buy it. I'm not going to talk to you about it. I'm not going to do anything. I don't have the time. And to be honest with you and convince you to buy it. I'm not going to talk to you about it. I'm not going to do anything. I don't have the time. And to be honest with you, you don't deserve it. So that's it. You guys figure it out now.

I'm done talking to people who don't care about it. I'm still the guy that will talk about it. You know what? For whatever reason, anytime I have a chance to talk about it, like I said, I'm insufferable. I could see myself in certain settings but len if someone comes out he's like yeah you got lucky about that i was pretty lucky you found that or they come at you and say well what are you going to do if there's an emp like i should curb stomp the emp people what why don't i just tie the emp guy to a football upright and leave

him there overnight like what else can i say to the emp guy that's gonna you know how is the only thing that matters contribute to society the emp guy anything that matters in that he's almost worse than the amazon widget buyer you know the emp guy what if the internet goes out are you fucking stupid then it's just it comes down to food and bullets those are the only two things that really matter and you'll be bordering with stuff that that matters to people and that's that's it and i just wanted to go back to one thing. I've been thinking long and hard for a long time about this. And I've come to the conclusion that Canada still is one of the best places in the world to live and earn a living if you could do that properly. I know it's very tough for a lot of people out there because it's hard for them

to pay for bills, rising cost of food, rent, housing, whatever the fuck it is. But if you're able to exceed that and be able to start saving money, it's one of the few countries in the world that you could do that and just earn a decent living and be able to eventually parlay the...

I've thought about this long and hard. I've been thinking about where in the world is it for working for between your working age the united states probably is the best but canada is very close to it i mean i i know you there's a lot of canada is capital canada is at the beginning of an incredibly speedy and dizzying decline into poverty. 40% of the population works for a government. There's probably 20% more of the working public that's either subsidized in the industry they work in by the government or otherwise propped up by government spending. We have the most generous pension system. We can't afford any of it. Healthcare is crumbling. School is some of

the worst in the country. Hamilton Spectator put out a story the other day, fucking retarded. These guys had a story about Hestreet School and the successes they've seen in the growth in terms of people passing the grade three and grade six literacy test, Len. They saw a 15% jump in kids who passed that. Wicked. Until you read the story and realize that the number was really just three people passing last year to four passing this year. Like every system that you rely on to continue to support the programs that Canadians enjoy and need in some cases in generations to come is failing.

And I would argue in 90% of those cases, the failure is irreparable and irreversible and long-term because we just refused to admit that we were doing stuff wrong for the last 20 years in some of these cases. There's no doubt. There is no doubt about this. And so when people say Canada is – not that you're really dying on this hill. Canada is one of the best places in the world. I think that's a hill I probably will die on. But that's just because Europe is doing things even more dumb than we are and even faster than we're doing them. It doesn't mean that we're great. It's like, yeah, I would rather get hit by a stretch limousine than a school bus, but it's not going to end well for you in either case.

Right? And so when I look at the stuff going on now, and maybe it's just because I have a kid that I'm more willing to take the gloves off here, but what are we talking about? If you don't have Bitcoin or even some of these other secondary assets, real estate, gold, whatever, you are in huge trouble and you're not going to know it until it really hits you in the mouth. And I'm telling you, it's going to hit you in the mouth in the next few years. And in Canada, you have the opportunity to accumulate as long as you have a job that pays in excess of your minimum requirements. You're able to then stack a decent amount of Bitcoin compared to a lot of other places in the world. A lot of other places in the world.

I'm going to defend Canada here because we have, say what you you want we have political stability here the government isn't falling every fucking two years or every year or so like there's political stability here the currency isn't collapsing maybe slowly going down but it's not collapsing like others have like just look at turkey egypt for instance you don't have police knocking on your door demanding shit like there's there's a lot here that the rest of the world looks at with envy. That's why people want to come in. We have natural resources we could tap into and it will be tapped into in the future.

Shit like fresh water, lots of available land. There's a lot here that people are sour but in reality is man if you could earn a living here you have the ability then to start stacking bitcoin and stack quite a bit of it maybe not as much as the united states but compared to the rest of the world try doing this and insert country name here yeah you won't be able to yeah i don't see you're dealing with this i just i disagree with this big time this is something that people in our age demo sort of 35 to 50, have no problem with. But what is the likelihood that somebody coming through the university system now gets to, quote unquote, earn a decent living?

They can't afford a house, right? So that's the other question. Probably can't find a partner. Thanks to dating apps I saw today, Bumble. Something like 75% of women in the US on Bumble have their height requirement for men set to six foot six. Good luck with that. Okay, short kings, you're fucked.

So you're not going to have a family. Since you're not going to be getting laid, you're going to find yourself doing other things to sort of quench that thirst, whether it's pornography, strip clubs, or other sort of, I don't want to say degenerate, but certainly unbecoming behaviors that will affect the likelihood that you find a quality partner, raise a quality family down the road. And that virtuous cycle will continue to haunt you as you get older. And then once you're older, after having gone through 20 years of one income in a condo, you will find yourself disillusioned and still with no money, still with no family. The country will continue to import third world labor to meet the demands of

the economic engine, to meet this number of the GDP that really doesn't matter to anybody except being counters at the top of the food chain. This country's in trouble big time. I really do believe that. A lot of countries are in trouble, including states they are in they're in a different kind they're in a different kind of trouble and they have a whole different toolkit to pull themselves out of it tools that we do not and will never have thanks to the last 10 or so years so 1.4 million women in the united states are doing only fans they're only fans producers content creators whatever the fuck it is yeah and if you break this down even further that is between the ages of 25 and 34 i forget what the number is that i can't that i was able to figure out 25 of people within that category there are only fans producers so that's not a that's not success that's not like so i'm trying

to say everything you see wrong applies to everywhere in the world. For sure. And it's just fucking brutal. So what you can do, though, what you can, even in Canada, as long as you are able to graduate with particular STEM degrees, I'm not talking about degree in history.

I can make fun of that. Even STEM. You can't afford a house in a major city with a STEM degree. You don't need to afford a house, Joey. That is not the be all and end all. What you have to do is exceed your minimum. And whatever that is, stack corn. And if you could do that, you are winning.

And you could still do that with a currency that has value in which you could buy Bitcoin at a decent price. You can't do this. What if you're in India, for instance, and you're using the Indian rupee? How much Bitcoin can you buy with the Indian rupee? You have to earn a fucking lot of it. If you don't die of food poisoning on the street, then maybe you might be able to find a way.

But I'm trying to just... Now, insert any country that I'm saying here. The same thing applies. I'm trying to say that you have the ability. You have to put your nose to the grindstone and fucking work for a long period of time. But this is one of the places where you can, in the world, do that. At least you can still do it right now. It may change in the future.

I don't know what's going to happen. But as of right now, I can say that, yes, it's possible. And that's why I look at, for earning potential, it's a great place. For other things, you can make arguments and fine. I'm not going to defend that. But for earning potential, and that's to me, that's the most important thing. It's how much you earn and spend wisely during your prime years. Because then when it comes time to retire retire if you have a nice nest egg

the world is open to you you can go anywhere you want as long as you have enough stacked away you need bitcoin man you do i guess it's you know to close to tie ball in this it's impossible for me to understand people who don't have bitcoin at this point like even if you don't get it you've tried everything else like why not throw five bucks you have to be unplugged from the matrix it's insane it's insane they have as i said their whole life has been in this environment where money has been tied to nothing and so how do you tell them here's something that's scarce they're just what the fuck you talking was scarce so we just make more of it the problem comes the government could just print another check which is happening

here in canada too every minute of every day yeah every united states this is happening in the state of new york we could talk about it's like everywhere this type of mentality exists is that you could just paper over problems yeah right so Right? So this is just not simply a Canadian problem. This is just a universal fiat problem. And for people to unplug from that is hard. I talk about it in the Canadian context because I think there's people who blame, like people blame winners for their own loser situation.

And to me, it's just like, you know, that's stupid. It's stupid to do that. There's a common thread I see among losers. You know, one honestly is like, is overuse of marijuana. Another one is, you know, sort of weekly or daily beer drinking. And the third, I would say is, you know, you're either single too late in life or in a toxic relationship with the opposite sex. Maybe the fourth is obesity. If you're obese, you got to sort that out. But I just think one of the things in Bitcoin, the hunted and hated thing that you commented in the chat earlier, I really do feel that one in my bones. Because although my friends don't hate me or hunt me, I do feel now the stairs burning a little hotter than they did a year ago. It's easy to talk about Bitcoin, why it's not

working when it drops from 20K to 5K, but it's a lot harder to say it's not working when it gets to 100. And then it's a lot harder to say it's not working when black rocks in and you know bitcoin might be a reserve asset and all these different things right it's hard to make these cases and to your point when when people can't unplug land you know where do they how do they cope will they cope with everything else they'll be super yeah ill behaviors is one thing, right? But it's another thing entirely when it becomes violence or mob mentality type stuff. And anyway, let's keep moving. What else we got?

Bitcoin Well, I want to talk about them because they did something this past week that's following the micro strategy strategy. Micro strategy approach, actually, that's a better way to say it. So what did Bitcoin Well do? They purchased 7.5 or roughly 7.5 bitcoin i think it was just slightly above it and this was added to their treasury and they also plan to stack more bitcoin in the future and they are in the process of selling two million dollars worth of debt and um that's going to get them some more bitcoin now with this one here the last debt that they they raised about a million dollars to get that 7.5 bitcoin i think that was never

that was raised eight percent is the percentage the api they got on the debt there it's maybe slightly high but whatever if the price of bitcoin goes higher than that over a year then this turns out to be a great move for investors and you know but who knows uh what happens in the future either way the one thing that they're doing that micro strategy is not is i talked to adam o'brien the ceo of bitcoin well and he's confirmed with me that they're holding on to their own keys so whatever they buy they're not relying on third party to hold on to it so if people like that or don't like it this is what they're doing personally i like that decision i would want to see one less layer of problems that could potentially be there

either way for them to add bitcoin on their uh on their treasury i i like that move i i can't say much about the terms of the debt or whatever but just simply buying bitcoin and adding it to their balance sheet i i can't say say it's a terrible move, and that's just terrible terms, but I don't think this is it. But I mean, I'm not sure if you want anything more to this. No, I mean, what does there say? I like Adam.

I think that he's kind of misguided on the Ethereum thing. I've heard him talk about how he's a Bitcoin maxi, and then when it's his quarterly earnings report, he talks about how he's a Bitcoin maxi and then when it's his quarterly earnings report he talks about how he's a Freedom maxi that's okay I think if you're selling Ethereum you are kind of bending the knee to your shareholders which is a thing you have to do if you're a publicly traded company

I don't fault him for that but it puts him in a difficult public position when he has to say one thing behind the scenes or I shouldn't even say behind the scenes he's not trying to hide it he's doing another when it comes to say one thing behind the scenes, or I shouldn't even say behind the scenes. He's not trying to hide it. He's doing another when it comes to the Ethereum stuff. I will note as well that he's been pretty vocal over the last few months about how the Saylor strategy doesn't work and people should not be buying MSTR stock and a number of other different points. I don't want to put words in his mouth because I don't remember exactly what he said. But he's mentioned things that I thought were unfair criticisms of the

MSTR strategy. Among them, maybe the most egregious was this idea that if Bitcoin tanks, MSTR stock is going to go belly up, then what do MSTR people do? I think you can make the same case about his stock probably even more severely his stock, probably even more severely, and his company probably even more severely. I don't know exactly what the financial health of the company is over at Bitcoin Well, but I hope they're doing okay. I just think that it's unfair to criticize MSTR for that one. Sort of, I guess undoubtedly, he's in a more precarious situation.

That said, they issued at 8%, percent i think was the convertible yes yeah okay so that's what i got as well so yeah so that's not that's not great but um if you think the kegger on bitcoin is pretty good then eight percent you're not doing too bad are you you know what was what was sailors first um convert uh no idea but that was at a time when debt was still very very cheap yeah definitely definitely i'm just curious staler's still issuing zero percent converts so so he's in a different boat obviously a different capital pool than adam is but um you know maybe if the next one you know if if bitcoin well does it again in in a year or 18 months whatever um, or sooner. And it's lower than that, right?

They're in for the long haul. They're not looking at a one-year-old. For sure. For sure. Adam's in it for the long haul. If you look at, you can look, if you, if you know someone with a terminal or have access to this info, you can see who the shareholders are. Adam is at the top of the list and I don't think he has ever sold a share of his company so

interesting uh interesting thought there say what you want about the man he is all in so we'll um we'll leave that there coinbase is another one we should talk about another exchange and they made some news this past week and i just want to stress to anybody out there who is a coinbase user i don't know who the heck would be well what about coinbase stockholders that's something totally different um i wouldn't recommend anybody hold it but that's my not financial advice and how come it's not you always say it like it's financial advice to me no i never get financial advice i'm just talking like just a rusted car maxi what the fuck do i

know if you look at my car clearly you're not going to listen to what i'm saying especially for rust protection of the car i fucking have no clue 23 years by the way my car has been with me it's this past week congratulations so it's thank you so anybody that's a coinbase user so should not use a vpn when interacting with their platform. And the reason for this is because a gentleman by the name of Scott Shapiro, he's their product director, and he came out, he tweeted this past week that, and I'm going to quote, PSA, don't use a VPN to access Coinbase. Attackers always use VPNs, so our risk models take that as a negative sign,

even if you are legitimately using your own account. This is straight from their product director. And so by using their platform with a VPN, you are putting yourself potentially, I say for sure, it's potentially at risk as being flagged as a bad actor. And who knows if that information could be passed on to Uncle Sam or whatever jurisdiction they're operating in, whatever you're using their stuff. So not only are VPNs frowned upon by Coinbase, according to their website, the Coinbase website, it's also indicated that ad blockers, security software, browser extensions, and more can prevent you from accessing your Coinbase account. All I have to say is what a

load of shit this is, because imagine being flagged as a bad actor because you're using a ad blocker on your browser. They could do what they want. This is their platform. They have every right to do whatever the fuck they want as long as they're operating within the confines of the law and in this case they are but you as a user a customer have every right to not use their fucking platform and to seek out a better service up there with bitcoin uh well bitcoin is one that comes to mind um yeah like what can i say about coinbase i don't know who the fuck what what customer retail customer would want to use it maybe i could kind of understand you know if

you're a company i could kind of understand even then i can't but if you're just like joe blow out there or jane dole like why isn't it just convenience at this point like if you're an american and you're buying bitcoin daily weekly you know it's just the easiest place to go you want to buy some other shit that's on there you want to use the coinbase pay thing you can do that i've noticed coinbase pay in a lot of places the last little while uh online shopping pay i think it's like stripe basically you can use some of your crypto to pay your you know whatever bill you have to pay let say you got, I don't know, buy a pair of sunglasses or something. You can use Coinbase Pay. I don't think it's actually called Coinbase Pay.

Someone else can tell me what it's called. They take Hawk 2 or whatever it's called. Yeah, Haley's Token. Yeah, we got to get Haley on the show. I don't think she'd come on. Maybe if I send her a couple of thirst trap videos, she'll come on the show. But anyway, the Coinbase thing, the VPN thing is interesting to me because you know what it sounds like when I hear stuff like this?

Do you remember like two years ago, maybe a little longer than this? You'll know for sure what I'm talking about. YouTube wouldn't let you use Adblocker when you went to their website. You remember that? Yeah, that was like a year ago or so ago. Yeah. And so like they ended up backing off of that. But I think when Coinbase says, oh, we don't want you using VPN,

what I really hear there is we want to make sure we have as much data on each user as we can get, number one. Number two, we want to make sure that we know which country you're coming from so we can obey the law.

Important, number two. And number three, I just think, Len, that they don't want people who are thinking about privacy using their platform. They want people who are thinking about ease of use and friction. They want normies. Yeah, exactly.

And so I think that's really what they are looking for. And so to your point, they can do whatever they want, but you can also do whatever you want. I invested in Coinbase. I still don't use the platform. It's not a great platform. Does Coinbase still do that that earn thing remember they were doing earn for a while

oh if you do some answer a couple questions they just like send you tokens and just trade bitcoin that was during the ico craze is that was that long ago i forget yeah that was 2018 that was during the ico craze i asked her actually the ico craze so that was a good time to get in and just simply convert to bitcoin yeah times yeah i remember iota i can't even remember the fucking names i got um god there was some bangers for sure jeez man we just got lucky len trust me we never did any research we just got lucky that we figured out you know the funny company that even says that like all they gotta look at i mean my fucking car everybody out there i know everybody out there has

a car that's newer than mine yeah probably not there's probably a few people but the reality is like look i'm still driving that car i double the value of it every time i fill it up and i do it because like it's reliable for me but like why would i spend my money on something else i don't know just buy more bitcoin people are traveling the world getting new cars every leasing shit that's that's your fucking jam that's cool but traveling well people i haven't been on a plane since 2017. so i haven't i don't travel right every like i spend a lot on bitcoin right like why not so i i forego certain things to get something else because i plan for the future not for today but that's my choice and if somebody else decides to spend their money for today

that's your choice yeah a lot of you have every opportunity to buy if you don't one day you will but at that point the price of bitcoin will be much much higher and you lost out which is too bad yeah totally totally let's end it joy because that's an hour for the bitcoin stuff sure yeah why not hang out if you're on video audio twitter a bunch of you guys are here a couple hundred nice to see welcome back um and if you're on audio wait till tomorrow for the rest of the show until then take care of yourselves and don't be a no coiner none of you