The Pomp Podcast - #842 Bitcoin Stops Politicians From Having Too Much Control w/ Marty Bent

Episode Date: February 28, 2022

Marty Bent is the founder of TFTC, a media company focused on Bitcoin, beauty and freedom in the digital age. In this conversation, we discuss Bitcoin, mining, authoritarian states, the World Economic Forum, digital freedom, and why you should start paying attention to Bitcoin now. Marty joined us in the studio as a guest on "The Best Business Show". To see the video of this episode, head over to "The Best Business Show: LIVE" Youtube Channel. ======================= Choice is a new self-directed IRA product that I'm really excited about. If you are listening to this, you are likely part of the 7.1 million bitcoin owners who have retirement accounts with dollars in them, but not bitcoin. I was in that situation too. Now you can actually buy real Bitcoin in your retirement account. I'm talking about owning your private keys and using tax-advantaged dollars to do it too. Absolute game changer. https://www.retirewithchoice.com/pomp ======================= Imagine coinmarketcap - decentralized. 3X in valuation is 15 billion dollars from the current price. Cryptotoday.com starts at zero, at fair launch on 7th of March. No VC. No pre-sale. Team tokens locked. For the people, by the people. For decentralized crypto. Visit http://cryptotoday.com and read the whitepaper for the details.

what's up everyone this is anthony pompliano most of you know me as pomp you're listening to the pomp podcast simply the best podcast out there now let's kick this thing off marty bent is the founder of tftc a media company focused on bitcoin beauty and freedom in the digital age in this conversation we talk about everything from bitcoin to mining to authoritarian states and also the world economic forum digital freedom and why you should start paying attention now I really enjoyed this conversation with Marty, and I hope you do as well. Before we get into this episode, though, I want to quickly talk about our sponsors. This episode is brought to you by BlockFi.

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and visit choiceapp.io slash Pomp. This episode is brought to you by CryptoToday.com. exchanges got decentralized money got decentralized and the only bottleneck is the very sites listing them all crypto today.com is like decentralized coin market cap it's the first of its kind there's no bribes no connections or heavy fees are needed to get listed like on the centralized sites you can simply request on the blockchain and disperse the prize on chain to the community and get fact-checked by thousands of eager crypto users crypto today.com treats very differently. There's no pre-sale, no VC money, and all of the team is locked up for at least one

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purposes only. There's a lot going on in Kanye's world. Speaking of somebody who may have thoughts on that, how are you? Oh, I'm doing well. I'm actually, I'm happy I didn't wear that shirt today because i almost did well you were almost wearing that shirt yeah we could have we could have been twins yes is that is that like i just need to go to fox news though for us to be twins john walked in the office this morning and he literally goes ah marty fox news can we can we talk about fox news first yeah i mean we talk about whatever the hell you want all right so uh does tucker carlson like text you on your cell phone and say will you come on the show or what happened uh not tucker uh somebody else particularly it was yeah one of

his producers i've been speaking with via text for a few months obviously trying to get them uh orange billed or are they yeah well it seems like he's really putting a concerted effort forward to to learn more about bitcoin what's going on and how it fits into the macro view of the world and so she's been texting me every once in a while like all right can you explain this for me and that's what friday i thought it was just one of those situations where she's like can they freeze people's Bitcoin accounts in Canada? I was like, eh, not necessarily. Depends if they know how to use Bitcoin.

And then she was like, oh, by the way, we want you on tonight. I was like, oh, alright. And did you go to a studio or did you do it from like your house? They had a van studio show up to our Airbnb. Like a car pulled up and you got in. Yeah, it was funny.

It was my father-in-law's birthday dinner on Friday night. That's why we're down here. A little family vacation around his birthday. Oh, that's right, because you were in Miami. yeah and uh i was like i just i could go to a studio in miami and they were like no we can have a van show up so i literally went from blowing out birthday candles to a van in our driveway were you drunk no i uh i waited i had one beer before just to like we need you on in five minutes

hold on real quick all right so uh let's talk about the canada stuff first um i think everyone generally is like this is crazy but there's a couple of different pieces to unpack the first being um i think that there's nuance around the protests themselves of like i always think of like if i was trying to live in a city and a bunch of people came and just parked their cars and like literally it's a gridlock and you couldn't go anywhere that'd be annoying for the local residents now there may be a good reason for doing it or not a good reason but like i do think that there's an element of like the people there are like hey this sucks but that's not what's going on anymore like that was like for like a day or two and then it seems like they got cleared out uh pretty

quickly and then it just became like what a normal protest would be right where people were like voicing their opinion but the government like kept pressing and that to me seems like where people like okay that's crazy is that kind of your read on it as well yeah i mean obviously it's very heavy it's an ongoing situation and i've spoken with a couple canadian friends and one actually dm me the other day and they said you know they were talking they're living in new york now but they were talking to some of their friends that live in ottawa and they said that their life didn't really seem all that different a few weeks ago when the truckers were there yeah the honking was a bit annoying but the government said stop honking you'll get

fined and a lot of people stopped honking and then after that funny how that works it was fine they said like funnily enough like as soon as they started cracking down the police did that's when they actually noticed that there was a disruption in the city it was like when the police started doing blockades on the road and i just think with the whole situation and the reaction to i just i i'm somebody who just likes logical consistency uh and consistency uh with particular situations when you compare the reaction by these uh governments to what happened in the summer of 2020 in reaction to uh george floyd and that whole um situation to what's going on now i just don't think there's a lot of consistency across the reactions there was a lot of damage and um

destruction in the summer of 2020 and we can have the debate if that's a viable form of protest or not and then this one up in ottawa seems very peaceful um you know you literally have kid bouncy houses like in the middle of the city and that's their form of protest and it doesn't seem like the reaction is really because of the disruption of everyday life in ottawa but uh the the fact that they really don't like what these particular group of people are are actually protesting which is civil liberties yeah one of the things that uh i'll never forget uh watching because i don't really watch like the news right like in terms like the live news uh but during i think it was uh the summer of 2020 remember when uh the protest i'm going to use that as a

terminology if i don't know who what cause what side of the debate whatever but there was a group of citizens that basically set the police department on fire in like minneapolis or something and like they like got into the police and i remember watching that as it was developing just being like holy like like this is like another level right it's like okay protest got it okay even like the violence or property destruction like in new york city there was you know multiple situations where they were breaking glass or whatever like again you get drunk people who knows if they're part of the person like when you get to the point where you're literally setting the police department on fire like that was like okay we we've breached into a level of this that

is not going to be well-received by most people. Again, it goes back to the inconsistencies. There's that famous meme of the CNN reporters literally in a gas mask, and there's a city on fire behind them. The tagline on CNN is mostly peaceful protest. The media apparatus, the political apparatus back then was vehemently against, or excuse me,

With the protesters and that situation, they're fighting for civil liberties too. A lot of them, I believe, at least thought they were. And then here, again, in Canada, it's mostly peaceful. And people need to get trampled with horses and put in place, like in Philly, where I'm from, there were ghost-riding cop cars down Broad Street. And they were blowing up ATMs and taking stuff.

And there was nowhere near the reaction that the protesters in Canada are going through right now. But again, two different countries. There's also this part of like, I think the police, and I want to be as thoughtful as I can about how to present this idea. I have a theory,

which is when the people who are protesting have like signs, they're honking, but they're generally uh willing to adhere to the rule of law the cops actually are emboldened and they can have like a very very uh kind of iron-fisted response and they know these people will basically comply at some point right but what we've seen in france in the united states uh in many other places around the world is that when the dissent is much more formidable much more violent etc actually a lot of times what happens is that the police basically they they walk away right they they back up and like it's almost like when two strong forces meet the

police are the ones who back away and they don't become combative usually because they're out numbered or whatever uh and so it's like very interesting dynamic of like the more peaceful you are actually in some way it elicits a stronger response from the police versus if you're you know setting the city on fire the cops seem to be a little you know less excited about going outside i don't know yeah i mean the violence begets violence uh type of mentality i think if you're if you're going to meet that violence that was happening in 2020 with with police violence it could have certainly just poured fuel on that whole fire i think again with the what's going on in canada right now specifically what we should really hone in on is that this is a

people are fighting for their right to actually be able to live within an economy to go to work to make a living put a home

over their families and actually feed their families and the fact that it's gotten to this point where you have Justin Trudeau

and their government enacting the Emergencies Act to freeze people's bank accounts and put people on lists if they were

supporting the truckers in many ways is pretty frankly scary and it's even scarier is that there's not politicians from the united states or other quote-unquote western free democracies standing up and saying hey justin once you once you chill out a bit you're you're have we seen anyone other than the el salvador president i think he had some tweets about basically just being like hey if i was doing this you guys would be like invading my country right uh but other than that i don't think we've seen anyone really no no and i think that's the silence is deafening and i would consider it

somewhat of an endorsement of what's going on up there because this would be real they want to do this stuff in the united states too i mean it's pretty clear that they want to usher us into the central bank digital currency world the feds talked about it ecb's talked about it they want to do it up in canada the uk as well and i mean i think uh majid which is on rogan like this Listening to that on the way down, I think the way he described it was extremely cogent. It's the vaccine passports,

which is what's being protested in Canada are the Trojan horse. You get people showing QR codes at a restaurant just to go eat and it starts there, but then it's, oh, you actually can't eat this burger because it's deemed too fatty.

You got to eat this soy burger instead. And that apparatus, that QR code app, sort of the Trojan horse that leads to that control over people's lives and economic freedom. People think this stuff is crazy, right? And trust me,

I wrote this morning about how central bank digital currencies are going to be one of the greatest violations of human rights in history. And people are like, what are you talking about? I'm like, well, did you read the piece, right? But I want to walk through a couple of things that are direct examples. This isn't you and I pontificating

about this. This isn't like us all putting our tinfoil hats on and like oh wouldn't it be crazy if they did this is real life examples so first let's start with uh the central bank digital currencies we've got the bank of england who's explicitly stated uh and and majid brought up uh kind of this article that said hey look they want to basically say here's what you can spend money on here's what you can't we know china's already pursuing this we now see that canada quite literally is saying if you donate money to this cause right we're going to come after you uh business owners who were literally just serving coffee to the truckers right we've seen that video that's gone viral and so this is not uh

like a crazy idea like this is happening in real time the other thing is around this idea of like what you can eat because i think when people see they're like oh they'll never get to that point i saw the video of the new york city mayor saying that he's gonna get everyone on like his vegan diet yeah it's like wait a minute like who said vegan diets were the best diet right like i don't it just sounds crazy to me yeah he's trying to institute like meatless mondays or something i mean that's the thing about all of them this is something bitcoiners myself included i've been covering for some time is this encroachment it's like a slow drip towards these systems and we've seen it over the last two years specifically like two weeks to flatten the curve let's just get the

old people vaccinated now actually if you're over 40 let's get everybody but now we need to vaccinate the kids and it's just like this constant moving of the goal post and the thing about it like i've threads on twitter you can go check them out like these people these people in power i mean augustin carson's specifically is the the head of the bank of international settlements the bis came out a couple years ago and described exactly what they want to do at the cbdc's they want to be able to control where you spend your money how quickly you spend your money what you can spend it on, whether or not you can actually spend it

depending on what you've done or said in the past. And that's part of, I guess, the great psyop that's going on right now is these people who want to usher us into these digital panopticons will say it publicly. There's video, there's receipts. And like you said, people think we're crazy for calling this out, but you can literally point to it.

They tell you exactly what they want to do. So, I'm just going to read for a second here. I just typed in New York City Mayor Meatless Monday. That was my starting point. Real genius over here. And the first thing that comes up is a Politico article that talks about the mayor, Eric Adams, former New York Police Department captain, traded jelly donuts for kale smoothies when diagnosed with type 2 diabetes five years ago. Since then, he reversed vision loss and nerve damage.

He shed 35 pounds, and he anointed himself a spokesperson for a plant-based lifestyle. i was written in december of 2021 okay what surprised me is the next uh result mayor de blasio announces citywide meatless mondays so not even mayor before he even got there got de blasio and he said that cutting back on meat a little will improve new yorkers health and reduce greenhouse gas emissions so okay so then i went and i looked and uh what he did back in 2019 was de Blasio introduced meatless Mondays across all New York city public schools. And the idea was, uh, the 1800 public schools will no longer serve meat on Mondays to their 1.1 million students, which started in July of 2019. And then, uh, there's an article, um, in the Indy 100

that says New York's first vegan mayor, and I'm talking about Eric Adams makes history with meat free fridays in schools so we now have 40 of the school week kids aren't eating meat in school and this is not as a parent somebody making the decision it's not hey i as the student don't want to eat meat this is the government telling the kids what they're going to eat in a one-size-fits-all dietary uh mandate which seems pretty crazy well it's really crazy and again it's compounding and doubling down on the problem that got us here in the first place, which is like top of the town control, the food pyramid,

like the food pyramid that they released in the seventies or eighties. Whenever they did that, it was telling people to eat like 12 servings of bread a day. They have like sugars and like insane amounts of fruit, which in and of itself isn't bad, but like then they demonize me like steak. And I think it's, I eat steak,

eggs and bacon. It's pretty much my diet. I had diabetes runs in my family and I don't have it. I have 20-20 vision still. I think when it comes to diet, there's another area. We've been talking about the government trying to top-down control money with CBDCs,

but now with diet, too, they're trying to granularly control complex systems, the human body being one of them, by saying, hey, here's the pyramid of food you need to eat, and that is arguably what's led to the spike in obesity and diabetes that we've seen in this country in the last 40, 50 years. and the government does not have,

I don't know, maybe they do have your best interests at heart, but their advice has never really led to good outcomes. All right, I don't want to leave the Canada topic yet because I have a question. I don't know why nobody talks about this in the mainstream media. I saw your article on the Cuban nipple crisis. Explain this theory that people have,

which is that Justin Trudeau is actually the son of fidel castro yes you just got to look at the nipples a french canadian should not have brown nipples he should have pink nipples and if you go back and you look at the timelines we got to really break this down so there's obviously photos of justin trudeau was shirtless uh just throughout his life and he has brown nipples yes which if you're a french canadian you should have fairer skin and pink nipples yes so the question is from the naked eye why do you have brown nipples not pink nipples and this leads to then people looking at a timeline then you do some digging you find out that uh margaret trudeau and pierre trudeau who's uh claimed to be justin's

actual father did took a trip to i believe the caribbean and may have stopped in cuba right around like nine months before uh justin was born and it is very apparent that margaret trudeau was very fond of fidel castro the then communist dictator of of cuba and there's a lot of video evidence of those two looking at each other very fondly um and there's pictures of them together yes and uh there's been books written about margaret trudeau and i believe she was bipolar and it was very well known at the time in the social social uh circles at that political sphere that she was known to sleep around and i believe my own eyes you can just look at the pictures of justin trudeau throughout his own life fidel castro throughout

the course of his life and then compare that to pictures of we're gonna pull the picture here of the nipples just so people realize that we're not uh we're not uh joking around yeah uh that this is serious stuff um and then also i think that we have a uh a couple of images that i think we can pull up of uh trudeau's uh supposedly biological father and fidel castro now the reason why this is important right as much as people joke around on the internet etc uh is that people start to say well hold on a second like there's a lot of similarities between the governance under castro and now what appears to be the governance in canada And so forget for a second who's actually whose father, like an episode of Mari, right?

But instead, like, there is a lot of comparisons between these governments now. Yeah, I mean, it's whether or not there was some long con where behind the scenes Fidel was colluding with Justin to bring communism to Canada. Again, this is all a theory. I think there's a non-zero probability that he is the child of Fidel Castro. And regardless if it was planned or not, it is undeniable that Justin Trudeau has turned into a tyrannical, I mean, maybe you can say dictator with what they're doing with the emergency acts. So we have the images.

You can't see these. They're on the screen right now of Pierre Trudeau, Justin Trudeau, and Fidel Castro. This comes from Marty's Bent, which you should go subscribe to. um but uh a lot of a lot of eyeball in here you don't got to be a genius to ask some questions um and i think that we pulled up also i actually don't know will we get kicked off of youtube for showing male nipples maybe um you know who knows what happens on uh on the internet these days yeah youtube's uh pretty pretty late with the trigger figure these days yeah we have you guys ever uh oh here's a little nipple gate for you those are brown nipples according to my eyes

by the way the reason why it's funny is because it's like a great joke where like every comedian uh you have to have you have to have a hint of truth and like it makes it funnier like that's kind of why everyone's like ah yeah that's an interesting uh conversation because another topic of uh conspiracy theorists over the last two years like lethal track record of accuracy uh compared to uh what i think people would have wished for them to have right and so you can go back to pre uh what i'll call western world pandemic where you know blaji a couple other folks were like dude hunker down like you know there's a pandemic underway and people are okay crazy person bam there we go then vaccine passports you know it's a whole other and like you just go through these

things and you're just like yeah like there was a lot of accuracy in a lot of those conversations early on lab leak uh i mean i think it's becoming abundantly clear i'm sorry this i mean like there are treatments I won't name the specifics to be to be cautious for your YouTube channel but there are treatments you protected us there are treatments that were discussed early on and villainized early on and even midway through the pandemic that that are proving to be pretty effective I can say from personal experience I've taken one of them myself and it helped me have a rapidly quick turnaround from pretty frankly brutal I mean we're now at the

point like and I think part of what is it happening so whether it's the treatments themselves I remember the day that Zero Hedge got taken down and I totally turned to my wife and I was like that's definitely true then like okay you guys gonna take that down like probably we should ask some questions about that theory to now I mean what is this this is was the date here February 17th uh so literally you know five days ago uh in the wall street journal uh they published an opinion piece another potential covet 19 lab leak clue was the title uh investigating the pandemic's origin is still worth the effort and this is uh an entire article about why uh the um

literally one of the sentences from the wall street journal piece is yet the world already knows enough to take the lab leak theory seriously like that would not been okay to say two years ago on the internet and now conversations change which leads to this whole conversation around like you may not know what the truth is how can you be the arbiter of truth if you don't even know what the truth is in these situations well then it's also highlights that the overton like the the media and political sphere can control the overton window where they can just gaslight the people into believing like oh it's okay to talk about this stuff now like it's it's yes it's wide widely known that it probably spread from a lab but like you can go back there i mean there was

emails between fauci and the one of the lead doctors in the uk early on basically trying to collude to to squash the the lab leak theory and those are public information that were accessibly via the freedom of information act and again you have like very hard proof that you can prove cryptographically via email encryption that they were colluding early on to bury this theory. That's what blows my mind is that

we have all this evidence, and again, it goes into the gaslighting tactics of the power structure, if you will. You're not allowed to say, all right, now that we know it's pretty obvious that Fauci and crew were trying to squash this early on,

why does he have any power now? Why are we still listening to him to this day and having the information that we have now that he was actively trying to sweep this under the rug. How can we trust this man or the people

that he's built around him to actually act in the best faith? The world is... What's up with the World Economic Forum? I keep seeing people talking about this. I saw you post a video. Oh, we got the leg

crossed. Okay, we're not getting of the good stuff what what is uh what's going on uh why uh uh if you had to summarize in like a couple of points why is that specific organization the one that people continue to point to and say like it seems like that's the epicenter for ideas that uh are antithetical to a citizen's best interest i think because it's just again like watch what they say they say all this stuff in public there's plenty of receipts out there that you can go back and look through i I mean, they memed Build Back Better into the world. They memed the Great Reset into the world.

Klaus Schwab, I believe it was in 2017, was bragging to a forum of people that the world economic young global leaders had infiltrated cabinets throughout the world. And I think the specific example he was talking about during that conversation was Canada, Trudeau and Trudeau's cabinet. And so, I mean, again, these people say,

The World Economic specifically says very publicly that they believe that we will transition to a world by 2030 where we have reset the global economy. People don't really own anything anymore. You have these central bank digital currencies, you have biometric ID systems, you have social credit systems, and then you see them spouting all this,

placing people in positions of power throughout governments, through the world. It's hard not to point at them like, hey, why are you pushing this and why are people listening to you? Especially now, the last few weeks specifically, I think people are really starting to wake up in Canada where it's pretty evident that the will of the people

is not being respected by the government there. You had another situation last week where you had an MP in the Canadian Parliament say, hey, I had one of my constituents really asking me about the influence the World Economic Forum has over our politics. we had klaus schwab bragging that that their organization had infiltrated canadian cabinets and he was zooming in i believe remotely and you could hear him clear as day but the the speaker

of the house like interrupted him when he got too far down the the theory of the world economic for having influence on the canadian government he's like oh we can't hear you like we're going to come back to you and never came back yeah i mean again it's it's pretty obvious that they have an agenda and they're again putting people in positions of power to try to push that agenda forward and i think yeah there's an unelected organization that really doesn't have the the best interest of individual citizens of different countries around the world at heart they care about forcing their view of the world on the rest of us and it's really creepy number one they've been very effective up to this point

but I think the tides are beginning to turn as people wake up I don't want to live in a pod or eat soy burgers or be forced to have something inject into my body

with the threat of not being able to spend money somewhere if I don't do that crazy let's talk bitcoin obviously I think you, my brother many many people who are watching this uh, believe Bitcoin is this, uh, piece of technology that is created regardless of what happens outside of it. It's going to continue to execute and do what it's built to do. Uh,

it is kind of immune to the pressures and complexities of the world. Uh, it's neither a good nor bad technology, right? It can have a positive impact. Bad people will still use technology for bad purposes. Uh, but it's just like this, you know, I joke, like it's not really an inanimate object but it basically is right in a digital form um what's your kind of read so far on the progress we've made from like an actual building of the protocol of the network the mining infrastructure uh it seems like we're headed in the right direction but is that how you look at it yeah i mean i think the progress bitcoin has made over the last 13 years has been incredible uh i mean it's it's in terms of mind share and people knowing what bitcoin is

I think it's pretty much a household brand name at this point. It works like you described. It's the beauty of it. It just works. It's providing people the utility of access to a distributed digital cash system with a hard cap money supply

that is desperately needed as an alternative to the incumbent system, which is just stealing your wealth via inflation and debasement of your savings every day. uh the the software that enables you to interact with the bitcoin network is only getting better the ux is getting better privacy still severely lacking but that is getting better as well and then the mining industry uh specifically that's one thing i'm most bullish on is because you have this integration of the bitcoin mining industry with the just overall energy sector throughout

the world and i think that's going to be extremely powerful i mean energy is the base layer of our society we cannot do what we're doing now without a shit ton of energy and bitcoin incentivizes bitcoin mining specifically with a proof of work consensus mechanism incentivizes humanity to be as energy efficient as possible and it's only going to really supercharge the ability for humans to harness energy and bring cheap abundant energy to the masses and i think the energy sector doesn't know it yet and this is like one thing i pitch oil and gas people when i talk to them is they they are replacing central banks like the the energy companies uh due to the fact that they're most incentivized to integrate bitcoin

mining as they have the the lowest uh they have access to the lowest costs electricity production just due to the proximity of the the source of the energy that they're either pulling out of ground or creating via other means uh they're they're going to replace the fed window they're not going to replace i think the federal reserve in terms of being able to dictate an interest rate associated with bitcoin or the amount of bitcoin that will ever be distributed to market that only ever be 21 million but these energy companies by proxy of being the largest miners in the world which i think will happen by the end of the decade is they'll they'll have the most hash rate and and they'll have control over block production,

distributed control over block production, which essentially replaces the Fed window. They will be the area through which money is newly created and distributed to the market and facilitated, where right now you just have the Fed with their window and the primary dealers that have access to that window. That's going to shift from the centralized central bank to a more distributed energy sector,

and their window will be accessible by many more people than just primary dealers at the Fed window. We saw recently news of Conoco. Conoco? Conoco, yeah. It seems like offloading a lot of their, what would be gas flare,

and selling that to Bitcoin miners. There's been plenty of rumors about everyone from Aramco all the way on down also doing this. You were talking about some of this energy that, you know, obviously Bitcoin, I think, is the most profitable monetization of energy in the world right now. Is it just a foregone conclusion

that the energy sector will become enthralled with Bitcoin and Bitcoin mining and it's just game on? And it's just who's kind of early and builds the infrastructure the fastest, they win? Or how do you think of it? I think so. I think it's already happening.

I mean, the... What are the secrets? I know you know a lot. I mean, there are many more super majors either mining Bitcoin or doing a lot of research into figuring out how they can do it in terms of oil and gas alone. The Houston meetup, the Houston Bitcoin meetup,

if you're in the Houston area and you're in the energy sector and you want to get to a meetup where you can really understand what's going on between the convergence of Bitcoin mining and energy, that's an incredible meetup been uh that's actually this thursday in houston if you're in town and just having been to like four or five of those now is just packed with bitcoin miners and people um that work at these

oil and gas companies or other other energy providers and a lot of capital allocators in that energy space too and they're all spitballing on how to to make this work and integrate bitcoin mining into their their operational stack and i do think it's a foregone conclusion like i said it just makes sense they they have access to the the cheapest electricity by by having access to the cheapest energy as well yeah one of the things uh that happened i don't know it's probably a couple uh weeks ago now uh was when uh texas was going through somewhat of like a winter storm uh a lot of the miners were turning off and basically redirecting that energy back into the grid and i don't think that people quite understood until they saw it in practice

how good bitcoin mining can be for the grid for the balancing uh of load and then also uh in some way serving as like a battery right and allowing for all this excess power to go somewhere get monetized and then also be able to retrieve it uh in times of need is that like the right way to think about it yeah yeah there's a lot of nuances topic and it's actually highly debated in the mining industry specifically like so it is true like if you the way energy works in electricity delivery on grid system works is the grid typically they'll build out enough capacity for what they estimate estimate to be peak demand for that electricity at any given point in the year and so peak demand is usually in the middle of the summer in the middle of the winter when

it's hottest and people want to turn their air conditioners on and when it's coldest and they want to turn their heat on and so grids will build out trying to guess that the necessary capacity to to supply that demand to the market and so the rest of the year you have all that electricity being produced but not really being utilized because people don't need their air conditioners or heater as much so you just have a bunch of excess energy and so if you don't estimate peak demand correctly like we saw last year which was one part of the problem was just not enough electricity

then you had a bunch of things failing as well that led to a disaster with the Texas grid going down in some parts and so with Bitcoin mining what it incentivizes is like alright you can build your

grid capacity much larger than you would ever imagine peak demand to be so you know for sure you could have a 10 sigma weather event where it's extremely cold for an abnormally long period of time but you will have enough electricity because

we've overbuilt the capacity for the grid to basically overcompensate by a large degree and we're confident that we can do that because we know that Bitcoin miners are there to purchase that electricity when you have off-peak hours. So you're always going to have a customer

and you're always going to be able to have a profitable business um with that being said when it comes out to building out these grid systems you want the base load of energy to be reliable and so that's there's a lot of strategic mistakes that could be made by just running with this meme and um and going after like building out more capacity if you build out more capacity i'm a believer that you need to do it with reliable base load energy so like natural gas uh nuclear um maybe coal even on the back end as like a last resort it but in a lot of areas what you're seeing is people just build out a bunch

of wind and solar capacity which are unreliable sources and so you can build out gigawatts of hundreds of gigawatts of wind and solar capacity but that doesn't really fix the the problem at peak demand times I guess another thing we saw in Texas their grid went down because a lot of the wind and solar that was feeding the grid stopped producing electricity because it was cloudy out so the sun wasn't getting uh to to the surface to for the solar panels to convert it into electricity and then the wind stopped blowing or the turbines froze up because it was so cold out and so you had all this capacity of potential energy that could have gone to the grid if the sun was out

and the wind was blowing the turbines weren't freezing but it just wasn't there because the weather acted a certain way and so that could have been avoided if you had natural gas peaker plants or nuclear power plants that had sufficient heated lines and sensors that didn't go offline that are more reliable. So long story short, I do think Bitcoin is very good for the grids. It creates an economic incentive to create an abundance of electricity on grid that far surpasses what peak demand would ever be. But it has to be done wisely and with intention,

with reliable energy sources. nuclear is that going to be a thing it has to be it has to be it's i did an episode in i want to say maybe 2018 with a uh a guy um who had been a nuclear sub engineer and he walked me through you know here's what nuclear is here's why it's important here's why uh the public's perception is incorrect etc and i walked away from there and i was like either that guy's like an amazing salesman or like what are we doing like why would we not have nuclear and so it seems like if that's the best power production methodology then of course bitcoin miners will uh find it right to some degree yeah there's i think it will incentivize the proliferation of small modular

reactors it's going to take time here in the united states specifically we've we've got a terrible nuclear regulatory body that i don't believe it's okayed the construction of a new reactor in many decades uh i mean nuclear is the densest and cleanest form of energy that humanity has ever harnessed yes there have been disasters throughout time i see chernobyl fukushima but they're the technology has become far superior over time there's again there's nuance to it maybe maybe you don't build a nuclear reactor on the ocean uh right on the coast or near a fault line but there there are certainly many areas where nuclear actors make a lot of sense and will provide humanity with cheap abundant dense energy and reliable energy

i mean just look at germany what they've done over the last two decades they're one of the most incredible case studies in the folly of of trying to transition to unreliable quote-unquote green energy generation sources in wind and solar i mean they are considered one of the economic powerhouses of the world they have one of the highest residential electricity rates hovering around like 40 cents a kilowatt hour and that's because they've shut down all their nuclear power plants replace them with unreliable wind and solar over time and this isn't to say like wind and solar don't have their place they certainly do but to think that we can just transition society to

an electricity grid's run on these unreliable sources is not wise. It's caused great economic trife in the places that have tried it, and it's actually like a regressive tax on poor people. It's funny

because all the environmentalists and hysterics who are like, we need to go green, we need to go green, they like to pontificate that. It's helping poor people and minorities but what you find is it actually hurts them the most like in new york city last year they shut down indian point uh the power plant which was up on the hudson and was serving very reliable

electricity to new york city manhattan for decades and they shut it down for environmental reasons which are bogus the environmentalist group that got that nuclear power point plant shut down uh did so on the basis of it was killing i think there were fish eggs getting sucked up into like the reactor and it was killing like the fish which wasn't true if you look at the fish populations in the hudson they were not affected at all um have you have you ever looked at the uh uh one of the bills what was the two the two uh trillion dollar bill i think we broke down one day we went through the bills and like one of it was like they gave half a billion dollars or like 250 million dollars or something to uh um or no i'm sorry it was billions of dollars i think well whatever the

was to study like uh exotic plant species uh impacted by the building of highways yeah right and then there was another part that like uh studying people's impact of driving high you're just like like what is going on right now and it's the same thing right it's like the fish eggs you're like okay like let's say that the fish eggs are getting sucked up and getting hurt which i don't know anything about this well let's just say that's true but if the net population of the fish triples then obviously the population growth is is not being affected you know in terms of the fish eggs and so it's always like do people lose the plot yeah and then not only to lose the plot but it's like anti-human it's like yeah all right the fish are fine like we can prove that by

population and then like what you're doing you're shutting down this reliable energy source for one of the largest cities in the world and what we've seen right away like new york in the beginning of the summer had like rolling brownout warnings like they were asking people to turn down their their air conditioners. While Times Square was lit up. Yes. Well, Times Square should be lit up. I'm so scared to tell you this.

So scared. So, so scared. Let me see if I can find it real quick. Yeah, here it is. So somebody that works with us lives in New York. I don't believe you know this person. And they sent me their power bill. and uh back let's call it six seven months ago they were paying 6.68 cents a kilowatt hour

and now they are paying 19 cents a kilowatt hour and the bill went from 54 to 243 so they used more power because of winter time right but also it exploded in terms of uh almost 300 percent increase uh to the cost of power now probably a bunch of different stuff in there but still like how does how does a single mother with two young children who works two jobs pay a 240 electricity bill exactly i mean you're putting these people in a position where they have to decide do i keep the lights on or i buy food to to feed my children like it's it's i mean that's the thing like people like to use feels and like oh my god we're saving the environment but you're you're hurting people at the end and people are part of the environment we are part of nature

That's something that's been completely lost in our modern day culture is that we think that humans are detached from nature where we're not. We're actually a beautiful part of nature. The fact that we have the ability to harness all this energy and use it to leverage our productivity by multiples of 100,000 X to bring about modern societies is a feat of human ingenuity and genius that should be celebrated. And yet, we have a bunch of people, the WEF included, trying to make the masses believe that we're bad, evil people that are destroying the planet. And by any objective measure, I think we're net positive for nature in the sense that we're actually able to do incredible things. And that's not to say that we should just be mass polluters and not take care of the environment. I'm a surfer I'm that weirdo

who yells at people for littering on the beach I hate when somebody goes to the beach and they leave shit on the sand it pisses me off and I'll be that guy walking back to the beach path and I'll be picking trash up and people think just because I don't think we should transition to wind and solar

that I'm anti-environment it's not the case, these things aren't mutually exclusive you can celebrate humanity and our ability to do all these things you can be energy efficient which Bitcoin miner is going to help in a massive way and you can actually uplift humanity from poverty. Think about going to Africa and India.

There was a stat out there, India over the first two decades of the 21st century brought electricity to 900 million people. It was just crazy, almost a billion people. And that has an insane amount of benefit or positive effect on those people's lives. Like they can then go do things. They don't have to like walk miles to go get water to bring back. Like they have the facilities to actually do that now and uplift themselves from poverty because they can focus on other things.

John, when was you, you went lizard hunting? Iguana hunting. Iguana hunting? Because they have- Which is good for the environment. but that was the whole thing in that situation there's so many of them that they're like

they don't pay you to do it right but they'll take you to go what questions you got yeah so I agree that like big companies one need to transition the way that they use their energy and using that to mine bitcoin is very very good for them what do you think about the average

retailer buying an ASIC going to a company that will store it all for you set it all up for you like is there really much incentive for them to do that and kind of go down that route if the energy is so expensive for them oh yeah I mean so again it depends on your particular situation why are you doing in the first place do you want to help the network out and are you just doing it for altruistic reasons you want to be you want to own an ASIC to have a part ownership in the overall

hash rate of the network so you can further distribute it and you're okay at mining bitcoin at a loss to do so um if you're willing to do that go ahead um bitcoin mining has been very profitable last year obviously because the china mining ban which caused this migration but that should correct itself moving forward so yeah you do if you're a retailer you have to like take into consideration why are you doing this do you want kyc free bitcoin is that why you're doing it and maybe you're willing to mine at a loss to to do that but it's not to say that all retailers wouldn't mind at a loss either there's if you have cheap electricity anywhere between probably like three and seven cents you can probably mine profitably um for for a good

amount of time moving forward um with that being said like if you are hosting at a hosting facility that's third-party risk that's entered into the equation and um you have to take that into consideration is that hosting provider going to get rug pulled which has happened many times over the last year specifically um so you have that third party risk if you're willing to take the asic at your house and set up your electrical infrastructure to do it yourself um that's certainly worthwhile as well if you want to get no kyc bitcoin uh yeah it just depends on your particular situation uh if my advice would be if like your goal is to stack as much bitcoin as possible and you have a amount of sats in your mind that you want to have i would try to purchase

those stats first um get that and then use the mining as a nice added benefit on the back end to learn it's a great learning experience in and of itself um me like me personally i have personal miners but uh that i run but this is a product of me being in the mining industry for a few years i was able to find with a couple of buddies a natural gas well that was abandoned and provides It's very cheap gas, and we've got a good deal on a generator, and so our all-in cost is relatively low, and I'm comfortable that we'll mine profitably, but it takes a lot of know-how to do that. But luckily for retail miners, there's more information than ever to access,

to learn how to do it if you do want to do it yourself. Econo Alchemist, Diverter, KYC, no KYC. Those are two individuals who are putting out really good content there. my last question for you before we uh we let you go is it time to finally bring back the phrase the virus is spreading like can we bring that back now yeah you got it you got it you have to i mean it was reappropriated from you so yeah they stole it you had to reappropriate it was appropriated from you uh john i don't even think john was on twitter at this but pretty much from what 2016 2017 until uh march 12th of 2020 uh every time anything good with bitcoin would happen

i just type out the virus is spreading and then it kind of took on a different meaning and then you stopped i chilled out a little bit and i i consulted with a couple people i was like is this just like a power through it moment or is this like a chill out and they were all like chill out now it's time to take it because honestly the virus is right like after you know what's going on in canada the last week i've seen an insane amount of tweets of people being like oh i actually get bitcoin now like like people were like ah yeah dhh the founder of base camp come out yesterday he had some strong leader in the libertarian party come out and be like i always dismiss bitcoin but now i get it i set up a bitcoin wallet you have a bunch of canadians coming

out and being like my boomer dad who never saw the value of bitcoin thought it was a ponzi scheme is dumping 80% of his net worth into it because he finally realizes why it's important. The orange pill is powerful, man. Well, and that's the beauty of it too. Like we don't even need to market it. These governments are doing it for us. They're like.

I did have a tweet that I didn't tweet and I typed it out. I deleted it. I typed it out again. I deleted it again, which was dictators are this, or I know what I said. I said, Justin Trudeau is the CMO of Bitcoin right now,

which like is true, right? I feel like because you're here we're going to do this so just all caps the virus is spreading we'll see what we'll see what happens

on Twitter if we get canceled it's Marty's fault I mean it seems like the other virus has gotten to a point

where it's like yeah I don't know if we could say that it's over of course by the way when I said

the Justin Trudeau comment Louis immediately on Slack that's a good tweet it is low uh for those that don't know uh lewis is a uh somebody who works with us and uh is a mutual friend of marty and i i think you actually were the one who first taught him about bitcoin right yeah well i i was the first one to sit him down i was like this is why bitcoin's important he was into it at that point um but we met i'll never forget we met at the smith and flatiron

um and we sat there at the table and we talked like he was like all right what the hell's going on we talked for like a couple hours and then he was like all right you need to start a podcast and that's how tftc started his liu was like all right you're starting a podcast i was like all right can you teach me how to do that the first time i ever met marty was literally we met at like 7 30 in the morning or something at the barstool office and uh uh we went in there and i was like man this is way too like professional of a setup because Marty was like

going over like pressing a button and like running back over that was yeah shout out to Barstool for letting me sneak in your studios and record in the early days

the podcast was never officially associated with Barstool but while I worked there I leveraged the I mean you have to have good quality audio capture so it was a good place

to do it they seemed to know what they were doing we've come a long way since that that first episode of Pumps it's crazy to think yeah I mean if you think

that was probably 2017 probably yeah yeah how long have you been doing it like it started september 2017 i think we had you you came through yeah it was either winter early winter 2017 or early 2018 yeah man it's pretty crazy yeah to think about uh everything that's transpired since then i actually uh was talking to plenty the other day and her and i met before any of like the Bitcoin stuff right it's how she always thinks about it and you just think about like the first time that I like started to do anything I think she was like this is crazy stuff whatever I remember the first time that I met her father and she was like oh yeah he like you know does like this technology stuff

and like he's been like researching this Bitcoin thing and he's like oh this is criminal right you know I was talking to him and he told me he was like a lived through two hyperinflationary events in Bulgaria Mike did you're like you're like the poster boy like you and i explained it to him and he was like this this is interesting you know like where can i read more he's an engineer so immediately he's like you know where's the white paper type thing and uh now he you know he believes right and and uh kind of sees it but like it's crazy to think about personal experience is important how it's presented to you is important all that stuff and here we are yeah yeah did he ask for a bitcoin dowry to take

No, don't be giving any ideas out here My brother and I did go to India In 2016 probably I think 2016 And you know I don't think we quite understood How the dowries actually work And a buddy of his from work

Was from India and was there So we met up with him He explained the whole thing And we were like, dude this is wild And then you start realizing How big are the dowries you know like some are like ten thousand dollars some are like ten million dollars you're like okay i'm very happy that's not an irish catholic

it's all right the uh uh the the thing that i just keep telling myself is uh the bitcoin that i hold you hold or anybody else is just you know it's like our grandkids bitcoin whatever just don't screw it up for them yeah we hold it for our progeny exactly all right where can we send people to uh subscribe follow like share uh subscribe tftc.io very simple um our youtube's currently down so you probably we're probably gonna walk away suspended yeah we got a strike we're in timeout right now susie what's up susan don't worry we're not she's not fans of us oh you think for yourself you're on the bad boy list i mean she's just asking the governments to is that what you guys got the strike for i had a doctor on who was prescribing treatments and

we talked about that and i didn't like it we also had a doctor on uh we had mccullough on and uh i although we made it abundantly clear i'm not here to talk about the efficacy and neither are you uh i just want to know like follow the money like who's making money in this situation of course you know there's a lot of money being made we should all be aware of that yeah literally it's a good way to put it uh but people of course we got you know messages from people and they're like i can't believe you're spreading you know and you're like did you did you watch it yeah oh okay all right no they saw his name and we're just like misinformation yeah of course yeah and by the way the the best part is that uh uh the video's got like you know 600 000 views

It's like some crazy, it's like, I think people want this information, right? Like nobody held a gun to their head for them to watch it, but whatever. It's fine. All right. So tftc.io, they can go there and they can get everything. And at Marty Ben on Twitter, if you want to follow me there. We pulled it up there. My favorite part about any piece of content that you create is founder of tftc.io, a media

company focusing on Bitcoin beauty and freedom in the digital age. When I read that this morning, I was dying. I was like, beauty and freedom in the digital age is the perfect combination. Yeah, we need to bring back a beautiful world. Humans are beautiful. We're good people.

I mean, we're just going to end it there. Anybody who is watching this, make sure you go subscribe to the email. Make sure you follow them on Twitter. Thanks so much for listening to today's episode. I really hope you guys enjoyed this one. Make sure you're subscribed on Apple, Spotify, or your favorite podcast player.

And if you're looking to try to transition to get a new job in the Bitcoin or crypto industry, we've got you covered. Head over to palmscryptocourse.com. We've developed a curriculum with the top teams across the industry. It's a three-week intensive training program with over 50 events packed into that three-week time period.

Go to palmscryptocourse.com to learn more and I'll meet you guys for the next episode.