Adam O'Brien: Enabling Indepdendence with Bitcoin | Bitcoin Infinity Show #144

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I don't

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think that buying

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and selling Bitcoin

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will be an industry

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in 10 to 15 years.

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I'm a lot

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more interested

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in helping people

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use bitcoin

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in Self-custody.

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I founded

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and I'm still the

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CEO of Bitcoin

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well a non-custodial

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Bitcoin platform.

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Our mission

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statement is

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just simply

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enable independence.

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We are a freedom

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focused company.

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You cannot leave

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funds on our platform.

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I do believe that

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my kids will grow up

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in a world

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where they can

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just have a Bitcoin

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well account.

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They will not need

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a bank account.

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They'll be able to

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send wire transfers

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and buy a house

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and do all the things

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that they need

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to do with

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the fiat world.

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Banks are

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losing customers

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because they will not

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let their customers do

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what they want

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with their money.

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Bitcoin comes along

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and completely

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disrupts their entire

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being in their

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entire business.

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We no longer

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need to gamble

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our savings,

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our value,

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our futures

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in order to just

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simply survive

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because

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we've got money

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that actually does

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the work in

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preserving the value.

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Bitcoin fixes

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a lot of things.

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Absolutely.

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Almost everything.

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Almost everything.

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Then.

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Adam welcome

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to the Bitcoin

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Infinity Show.

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Thank you

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for joining us.

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Well thanks so

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much for having me

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I appreciate it.

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Yeah. Welcome, Adam.

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We since

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we haven't had

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you on

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the show before,

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could you start off

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by giving

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our listeners

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a little tldr

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on Adam O'Brian

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and what you do?

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What is the bitcoin?

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Well, and how did you.

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So yeah, I'm.

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I'm Adam O'Brien.

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I, I founded

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and I'm still

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the CEO of,

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of bitcoin.

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Well,

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I've been doing that

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since 2013.

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So quite a

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quite a while here.

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I live in Alberta.

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You know, personally,

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I've got a wife and,

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four kids, so we're,

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you know, we're

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we're right

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in the thick of it.

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But it's been

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pretty fun.

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We've been

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able to travel

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like we were

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just got back from

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El Salvador,

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went to

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adopting bitcoin.

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We brought

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three of the

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four kids.

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The small one

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is just he

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he he's just too much

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right now

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on the airplane.

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So we left him

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behind with grandma.

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Brought the kids to do

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the Bitcoin thing.

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We're a family of

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bitcoiners, man.

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We we

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really, really

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understand.

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Or at least

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I think we do.

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I'm sure in five years

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I'll look back

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and think, wow,

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I didn't know a thing,

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just like I always do.

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But,

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we understand

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the importance

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of generational,

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you know, wealth

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and freedom and,

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and and why

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that's so important.

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We're raising our kids

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in a, in a home

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that values

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that kind of stuff.

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And it's,

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Yeah, it's

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an exciting ride.

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So that's kind of

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there's the 100,000ft

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view of, of atom.

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Bitcoin

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well, is

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a non-custodial

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bitcoin platform.

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We're actually

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on a mission.

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So our mission

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statement is just,

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just simply enable

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independence.

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We are a freedom

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focused company.

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You cannot leave

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funds on our platform.

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This is,

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I think,

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the number one

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most important thing

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for bitcoin platforms

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is for

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for broker

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and custodian

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to be split,

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at minimum

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and at best, obviously

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for the end user,

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the, the,

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the beneficial owner

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of the Bitcoin

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needs to have,

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you know,

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full custody.

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And so yeah,

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it's definitely been

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you know,

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there's, there's ups

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and downs

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to this business,

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to this industry.

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But certainly running

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a non-custodial

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version of

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of this business

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is, is tricky. But

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we're loving it.

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We're doing it.

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It's forcing us to

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think differently

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and be smarter.

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And I think that

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the consumer

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benefits as a result.

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So you

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you called it

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a platform.

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What is that?

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It's not like an

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exchange or what?

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What is the thing?

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I, I have eradicated

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the word exchange

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from my vocabulary

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when talking

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about Bitcoin.

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Well,

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because we are

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not a place where,

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like an exchange,

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it implies

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that the place

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you log in

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does not own

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the Bitcoin.

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It's simply

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a middleman

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in between two

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trading parties

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to exchanging parties,

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if you will.

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Bitcoin

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well is direct

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to consumer

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when you buy

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bitcoin at Bitcoin

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well that comes

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out of our inventory.

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You're not

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trading with the guy

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on the other side.

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There's no bid and ask

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there's just

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simply a buy price

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and a sell price

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and and bitcoin.

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Well is the

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counterparty

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in all of

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those scenarios.

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This is part of what

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needs to happen

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in, in,

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in a

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non-custodial business

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because

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you can't leave

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funds on

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the platform

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will be very difficult

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to be an exchange

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with no one leaving

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any funds on the,

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on the platform.

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So, so yeah.

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And then platform

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even further

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than that,

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I'm actually not

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very interested

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in solely buying

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and selling Bitcoin.

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I don't think that

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buying and selling

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Bitcoin will be

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an industry in 10

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to 15 years.

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I'm a lot more

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interested in,

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in, in helping people

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use Bitcoin

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in Self-custody.

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And so,

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you know,

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our mission statement,

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as I said,

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is to

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enable independence.

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And we do that

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by making Bitcoin

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and self-custody

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easy to use,

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kind of like

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the convenience

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of modern banking

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with the benefits

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of Bitcoin.

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So benefits of Bitcoin

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you can hold it

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and control it

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yourself.

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You know

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you've got

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full access.

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You can go anywhere

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in the world.

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It's all good.

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But benefits of

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of modern bank

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00:05:02,291 --> 00:05:02,666
or sorry

316
00:05:02,666 --> 00:05:03,208
about convenience

317
00:05:03,208 --> 00:05:03,875
of modern banking.

318
00:05:03,875 --> 00:05:05,125
Like tap your phone

319
00:05:05,125 --> 00:05:06,291
to pay for things

320
00:05:06,291 --> 00:05:06,625
you know

321
00:05:06,625 --> 00:05:08,791
pay bills online.

322
00:05:08,791 --> 00:05:09,666
And so that

323
00:05:09,666 --> 00:05:10,166
we developed

324
00:05:10,166 --> 00:05:11,375
a platform

325
00:05:11,375 --> 00:05:11,791
or part of

326
00:05:11,791 --> 00:05:12,666
the platform is

327
00:05:12,666 --> 00:05:14,000
being able to,

328
00:05:14,000 --> 00:05:14,791
pay your bills

329
00:05:14,791 --> 00:05:15,333
in Bitcoin.

330
00:05:15,333 --> 00:05:16,166
So I,

331
00:05:16,166 --> 00:05:17,416
I have my Amex card,

332
00:05:17,416 --> 00:05:17,875
which I go

333
00:05:17,875 --> 00:05:18,958
around tapping,

334
00:05:18,958 --> 00:05:21,000
you know, to buy like,

335
00:05:21,000 --> 00:05:22,250
you know, went to the

336
00:05:22,250 --> 00:05:23,083
to the tire store

337
00:05:23,083 --> 00:05:24,041
to get a new hitch

338
00:05:24,041 --> 00:05:25,000
in, like whatever,

339
00:05:25,000 --> 00:05:26,666
buy a coffee.

340
00:05:26,666 --> 00:05:27,416
There's no chance

341
00:05:27,416 --> 00:05:27,958
these chains

342
00:05:27,958 --> 00:05:28,250
are going to be

343
00:05:28,250 --> 00:05:28,625
any bitcoin

344
00:05:28,625 --> 00:05:29,416
anytime soon.

345
00:05:29,416 --> 00:05:30,541
And so we

346
00:05:30,541 --> 00:05:31,500
tap the card,

347
00:05:31,500 --> 00:05:32,875
tap the Amex card.

348
00:05:32,875 --> 00:05:33,250
And then at the

349
00:05:33,250 --> 00:05:33,833
end of the month

350
00:05:33,833 --> 00:05:34,750
I just pay the bill

351
00:05:34,750 --> 00:05:36,000
with Bitcoin

352
00:05:36,000 --> 00:05:36,708
and off we go

353
00:05:36,708 --> 00:05:37,375
I get to hold

354
00:05:37,375 --> 00:05:37,875
my bitcoin

355
00:05:37,875 --> 00:05:38,916
in Self-custody.

356
00:05:38,916 --> 00:05:39,875
I'm not exposed to

357
00:05:39,875 --> 00:05:41,083
the horrific Canadian

358
00:05:41,083 --> 00:05:42,208
banking system.

359
00:05:42,208 --> 00:05:43,250
Not that they want me

360
00:05:44,458 --> 00:05:45,958
and and

361
00:05:45,958 --> 00:05:47,583
and yeah, that's

362
00:05:47,583 --> 00:05:47,958
that's it.

363
00:05:47,958 --> 00:05:49,875
So I a platform

364
00:05:49,875 --> 00:05:50,583
so much more

365
00:05:50,583 --> 00:05:51,083
than just buy

366
00:05:51,083 --> 00:05:51,416
and sell.

367
00:05:51,416 --> 00:05:53,041
In fact in the States

368
00:05:53,041 --> 00:05:53,875
I'm just rambling on

369
00:05:53,875 --> 00:05:54,208
so I feel free

370
00:05:54,208 --> 00:05:54,916
to cut me off

371
00:05:54,916 --> 00:05:55,291
any time,

372
00:05:55,291 --> 00:05:55,875
but I feel like

373
00:05:55,875 --> 00:05:56,166
I'm going to

374
00:05:56,166 --> 00:05:57,541
talk forever here.

375
00:05:57,541 --> 00:05:58,625
Buckle up, listener.

376
00:05:58,625 --> 00:06:00,125
We're in for it.

377
00:06:00,125 --> 00:06:01,500
We're developing,

378
00:06:01,500 --> 00:06:02,583
right now, a direct

379
00:06:02,583 --> 00:06:03,750
deposit function

380
00:06:03,750 --> 00:06:04,833
so you can send

381
00:06:04,833 --> 00:06:05,125
you'll be able

382
00:06:05,125 --> 00:06:06,041
to send your paycheck

383
00:06:06,041 --> 00:06:07,541
or your stimulus check

384
00:06:07,541 --> 00:06:08,375
or whatever

385
00:06:08,375 --> 00:06:09,333
directly to Bitcoin.

386
00:06:09,333 --> 00:06:09,958
Well,

387
00:06:09,958 --> 00:06:10,416
and then you

388
00:06:10,416 --> 00:06:11,666
can automate a portion

389
00:06:11,666 --> 00:06:12,000
of that

390
00:06:12,000 --> 00:06:13,333
going to Self-custody

391
00:06:13,333 --> 00:06:13,625
and then

392
00:06:13,625 --> 00:06:14,375
a portion of that

393
00:06:14,375 --> 00:06:15,041
and then the rest

394
00:06:15,041 --> 00:06:15,541
going back

395
00:06:15,541 --> 00:06:16,583
to your bank.

396
00:06:16,583 --> 00:06:17,041
But of course

397
00:06:17,041 --> 00:06:18,375
the next step is

398
00:06:18,375 --> 00:06:18,958
you can automate

399
00:06:18,958 --> 00:06:19,458
a portion of that

400
00:06:19,458 --> 00:06:20,458
to Self-custody.

401
00:06:20,458 --> 00:06:21,250
And then you can

402
00:06:21,250 --> 00:06:22,458
have your mortgage

403
00:06:22,458 --> 00:06:22,916
or your car

404
00:06:22,916 --> 00:06:23,791
payment or whatever

405
00:06:23,791 --> 00:06:24,416
withdrawn

406
00:06:24,416 --> 00:06:25,375
automatically from

407
00:06:25,375 --> 00:06:25,875
that Bitcoin

408
00:06:25,875 --> 00:06:26,708
real account.

409
00:06:26,708 --> 00:06:27,541
And then of course,

410
00:06:27,541 --> 00:06:28,375
the third step is

411
00:06:28,375 --> 00:06:29,125
just have all of it

412
00:06:29,125 --> 00:06:30,375
go to Self-custody

413
00:06:30,375 --> 00:06:31,541
and then,

414
00:06:31,541 --> 00:06:31,875
you know,

415
00:06:31,875 --> 00:06:32,666
pay your bills

416
00:06:32,666 --> 00:06:33,666
with Bitcoin

417
00:06:33,666 --> 00:06:34,625
from Self-custody.

418
00:06:34,625 --> 00:06:35,291
And so

419
00:06:35,291 --> 00:06:35,875
that's really where

420
00:06:35,875 --> 00:06:37,125
we're trying to push,

421
00:06:37,125 --> 00:06:38,000
you know the

422
00:06:38,000 --> 00:06:38,458
the code

423
00:06:38,458 --> 00:06:39,000
that keeps coming to

424
00:06:39,000 --> 00:06:40,291
mind is

425
00:06:40,291 --> 00:06:41,208
be the change

426
00:06:41,208 --> 00:06:41,708
that you want

427
00:06:41,708 --> 00:06:42,708
the world

428
00:06:42,708 --> 00:06:43,166
to see

429
00:06:43,166 --> 00:06:43,708
or to be or

430
00:06:43,708 --> 00:06:44,250
whatever the,

431
00:06:44,250 --> 00:06:45,125
whatever the quotas

432
00:06:45,125 --> 00:06:46,083
be the change.

433
00:06:46,083 --> 00:06:47,208
And,

434
00:06:47,208 --> 00:06:48,958
I do not want my kids

435
00:06:48,958 --> 00:06:49,500
to have

436
00:06:49,500 --> 00:06:50,541
the same exposure

437
00:06:50,541 --> 00:06:51,416
to the legacy

438
00:06:51,416 --> 00:06:52,458
financial system

439
00:06:52,458 --> 00:06:52,791
that our

440
00:06:52,791 --> 00:06:53,958
generation does.

441
00:06:53,958 --> 00:06:54,750
And so

442
00:06:54,750 --> 00:06:55,583
we need a platform

443
00:06:55,583 --> 00:06:56,833
that enables people

444
00:06:56,833 --> 00:06:57,958
to live on Bitcoin.

445
00:06:59,208 --> 00:06:59,500
Yeah.

446
00:06:59,500 --> 00:07:00,750
That's, how our

447
00:07:00,750 --> 00:07:02,500
new book starts.

448
00:07:02,500 --> 00:07:03,750
The, Bitcoin,

449
00:07:03,750 --> 00:07:04,625
the inverse of clown

450
00:07:04,625 --> 00:07:05,250
world, starts

451
00:07:05,250 --> 00:07:06,416
with a very,

452
00:07:06,416 --> 00:07:07,666
very tacky,

453
00:07:07,666 --> 00:07:09,375
Michael Jackson quote.

454
00:07:09,375 --> 00:07:10,166
If you want to make

455
00:07:10,166 --> 00:07:10,500
the world

456
00:07:10,500 --> 00:07:11,375
a better place,

457
00:07:11,375 --> 00:07:11,958
take a look

458
00:07:11,958 --> 00:07:12,583
at yourself

459
00:07:12,583 --> 00:07:13,083
and then make

460
00:07:13,083 --> 00:07:14,041
a change.

461
00:07:14,041 --> 00:07:15,291
Wow, I love.

462
00:07:15,291 --> 00:07:16,166
In the mirror.

463
00:07:16,166 --> 00:07:16,666
Yes.

464
00:07:16,666 --> 00:07:18,000
And the profound

465
00:07:18,000 --> 00:07:19,833
truth there,

466
00:07:19,833 --> 00:07:21,041
even though it sounds.

467
00:07:21,041 --> 00:07:22,625
Yeah.

468
00:07:22,625 --> 00:07:23,208
It's, you know what?

469
00:07:23,208 --> 00:07:24,583
It's cliche and it's

470
00:07:24,583 --> 00:07:25,791
whatever, but

471
00:07:25,791 --> 00:07:27,208
how few people

472
00:07:27,208 --> 00:07:29,458
actually do it.

473
00:07:29,458 --> 00:07:30,000
We were chatting

474
00:07:30,000 --> 00:07:30,583
last night

475
00:07:30,583 --> 00:07:31,833
with some friends,

476
00:07:31,833 --> 00:07:33,250
and it's like

477
00:07:33,250 --> 00:07:35,250
we're talking about,

478
00:07:35,250 --> 00:07:35,625
you know, we're

479
00:07:35,625 --> 00:07:36,291
going through a book

480
00:07:36,291 --> 00:07:36,958
together,

481
00:07:36,958 --> 00:07:37,416
kind of like

482
00:07:37,416 --> 00:07:38,750
part of a Bible study.

483
00:07:38,750 --> 00:07:40,041
And I kind of made

484
00:07:40,041 --> 00:07:41,041
the comment like,

485
00:07:41,041 --> 00:07:41,458
look,

486
00:07:41,458 --> 00:07:42,000
nothing was

487
00:07:42,000 --> 00:07:42,875
revolutionary

488
00:07:42,875 --> 00:07:43,666
in this chapter

489
00:07:43,666 --> 00:07:44,083
for the last

490
00:07:44,083 --> 00:07:45,333
few weeks.

491
00:07:45,333 --> 00:07:45,666
But it's

492
00:07:45,666 --> 00:07:47,041
a good reminder

493
00:07:47,041 --> 00:07:47,458
that we have

494
00:07:47,458 --> 00:07:48,291
to take action.

495
00:07:48,291 --> 00:07:48,958
And like,

496
00:07:48,958 --> 00:07:50,375
I know how to

497
00:07:50,375 --> 00:07:52,583
how to have a 4% BMI

498
00:07:52,583 --> 00:07:53,000
and A

499
00:07:53,000 --> 00:07:54,250
and a six pack with,

500
00:07:54,250 --> 00:07:55,166
you know, with a shirt

501
00:07:55,166 --> 00:07:55,916
that is just

502
00:07:55,916 --> 00:07:56,416
like fitting,

503
00:07:56,416 --> 00:07:57,375
just perfect.

504
00:07:57,375 --> 00:07:58,208
But guess what?

505
00:07:59,583 --> 00:08:00,500
I'm not disciplined

506
00:08:00,500 --> 00:08:01,833
enough to do that.

507
00:08:01,833 --> 00:08:03,666
And and it's such,

508
00:08:03,666 --> 00:08:05,041
so it's such a key

509
00:08:05,041 --> 00:08:06,000
kind of component

510
00:08:06,000 --> 00:08:07,583
I feel like to

511
00:08:07,583 --> 00:08:09,041
knowing what to do

512
00:08:09,041 --> 00:08:09,916
is really only

513
00:08:09,916 --> 00:08:11,041
like 10%.

514
00:08:11,041 --> 00:08:12,000
The other 90

515
00:08:12,000 --> 00:08:12,916
is actually

516
00:08:12,916 --> 00:08:13,833
getting it done

517
00:08:13,833 --> 00:08:15,000
and doing it.

518
00:08:15,000 --> 00:08:16,458
Yeah, but,

519
00:08:16,458 --> 00:08:17,125
never judge

520
00:08:17,125 --> 00:08:19,000
a book by its cover.

521
00:08:19,000 --> 00:08:19,958
You don't have to have

522
00:08:19,958 --> 00:08:20,500
a perfect

523
00:08:20,500 --> 00:08:22,916
abs to be, to be fit.

524
00:08:22,916 --> 00:08:23,250
You can

525
00:08:23,250 --> 00:08:23,666
you can be

526
00:08:23,666 --> 00:08:24,958
mentally fit.

527
00:08:24,958 --> 00:08:25,500
That's right,

528
00:08:25,500 --> 00:08:26,291
I like that.

529
00:08:26,291 --> 00:08:26,708
That's what

530
00:08:26,708 --> 00:08:28,291
I'm I'm in there.

531
00:08:28,291 --> 00:08:30,750
The mental juggernaut.

532
00:08:30,750 --> 00:08:31,416
Yeah.

533
00:08:31,416 --> 00:08:32,458
No, but,

534
00:08:32,458 --> 00:08:33,666
I mean, Michael

535
00:08:33,666 --> 00:08:35,000
Jackson himself,

536
00:08:35,000 --> 00:08:36,166
he changed,

537
00:08:36,166 --> 00:08:36,666
he changed

538
00:08:36,666 --> 00:08:37,416
from black man

539
00:08:37,416 --> 00:08:38,208
to white woman.

540
00:08:38,208 --> 00:08:39,083
But maybe

541
00:08:39,083 --> 00:08:39,958
that's not

542
00:08:39,958 --> 00:08:41,250
what he intended.

543
00:08:41,250 --> 00:08:41,916
Like the song

544
00:08:41,916 --> 00:08:44,500
lyric to be, but,

545
00:08:44,500 --> 00:08:44,708
he's.

546
00:08:44,708 --> 00:08:45,750
So it's to his own,

547
00:08:45,750 --> 00:08:46,791
I guess.

548
00:08:46,791 --> 00:08:48,958
For her or her.

549
00:08:48,958 --> 00:08:50,416
Yeah, whatever.

550
00:08:50,416 --> 00:08:50,833
I guess

551
00:08:50,833 --> 00:08:51,958
I think we've

552
00:08:51,958 --> 00:08:52,958
abandoned woke

553
00:08:52,958 --> 00:08:53,916
ism at this point,

554
00:08:53,916 --> 00:08:54,333
haven't we?

555
00:08:54,333 --> 00:08:55,083
Like,

556
00:08:55,083 --> 00:08:56,250
I feel like the world

557
00:08:56,250 --> 00:08:57,125
has just ditched

558
00:08:57,125 --> 00:08:58,166
that whole thing.

559
00:08:58,166 --> 00:08:58,916
That was a bad idea.

560
00:08:58,916 --> 00:08:59,708
Let's. Let's go.

561
00:08:59,708 --> 00:09:00,541
Next thing.

562
00:09:00,541 --> 00:09:02,125
It feels like it.

563
00:09:02,125 --> 00:09:03,250
It became cool

564
00:09:03,250 --> 00:09:04,958
to be conservative.

565
00:09:04,958 --> 00:09:07,500
It became cool again.

566
00:09:07,500 --> 00:09:07,833
Yeah.

567
00:09:07,833 --> 00:09:08,041
You know,

568
00:09:08,041 --> 00:09:09,083
you can see it in

569
00:09:09,083 --> 00:09:09,708
the culture.

570
00:09:09,708 --> 00:09:10,166
I've noticed

571
00:09:10,166 --> 00:09:10,791
this shift

572
00:09:10,791 --> 00:09:11,958
over the last.

573
00:09:11,958 --> 00:09:12,250
Yeah,

574
00:09:12,250 --> 00:09:12,833
probably started

575
00:09:12,833 --> 00:09:13,875
about 12 months ago.

576
00:09:13,875 --> 00:09:14,291
And then,

577
00:09:14,291 --> 00:09:14,958
you know, certainly

578
00:09:14,958 --> 00:09:16,416
over the election,

579
00:09:16,416 --> 00:09:17,416
like,

580
00:09:17,416 --> 00:09:18,208
I don't know how

581
00:09:18,208 --> 00:09:19,541
many celebrities

582
00:09:19,541 --> 00:09:21,416
came out Anti-woke,

583
00:09:22,541 --> 00:09:23,916
over the last,

584
00:09:23,916 --> 00:09:25,291
you know, six months.

585
00:09:25,291 --> 00:09:26,208
And that is

586
00:09:26,208 --> 00:09:27,375
just game changing.

587
00:09:27,375 --> 00:09:27,625
No.

588
00:09:27,625 --> 00:09:28,083
What people

589
00:09:28,083 --> 00:09:28,541
are no longer

590
00:09:28,541 --> 00:09:29,083
afraid of

591
00:09:29,083 --> 00:09:30,125
cancel culture.

592
00:09:30,125 --> 00:09:31,000
And I feel like

593
00:09:31,000 --> 00:09:32,083
this is just,

594
00:09:32,083 --> 00:09:33,083
you know, this is the,

595
00:09:33,083 --> 00:09:35,041
the, the purest form

596
00:09:35,041 --> 00:09:36,958
of, of a free market,

597
00:09:36,958 --> 00:09:37,583
kind of like

598
00:09:37,583 --> 00:09:38,666
swinging back

599
00:09:38,666 --> 00:09:39,208
and forth

600
00:09:39,208 --> 00:09:39,625
and back

601
00:09:39,625 --> 00:09:39,958
and forth

602
00:09:39,958 --> 00:09:40,416
and eventually

603
00:09:40,416 --> 00:09:42,125
the path gets found.

604
00:09:42,125 --> 00:09:43,083
Yeah,

605
00:09:43,083 --> 00:09:44,166
there's a lot of the

606
00:09:44,166 --> 00:09:44,666
sounds like

607
00:09:44,666 --> 00:09:45,166
you've read

608
00:09:45,166 --> 00:09:46,000
our book already,

609
00:09:46,000 --> 00:09:46,916
because it

610
00:09:46,916 --> 00:09:47,916
also feels like

611
00:09:47,916 --> 00:09:48,583
it came out

612
00:09:48,583 --> 00:09:49,791
like a month or two

613
00:09:49,791 --> 00:09:50,250
too late,

614
00:09:50,250 --> 00:09:51,333
because it's

615
00:09:51,333 --> 00:09:51,791
addressing

616
00:09:51,791 --> 00:09:52,416
the problems

617
00:09:52,416 --> 00:09:53,166
that were there

618
00:09:53,166 --> 00:09:54,208
like six months ago.

619
00:09:54,208 --> 00:09:55,833
But maybe.

620
00:09:55,833 --> 00:09:57,041
But then again,

621
00:09:57,041 --> 00:09:57,958
the pendulum

622
00:09:57,958 --> 00:09:58,916
you mentioned, that's

623
00:09:58,916 --> 00:09:59,541
another chapter

624
00:09:59,541 --> 00:10:00,041
of the book.

625
00:10:00,041 --> 00:10:00,666
Like it

626
00:10:00,666 --> 00:10:01,833
swings back and forth,

627
00:10:01,833 --> 00:10:02,708
and I don't think

628
00:10:02,708 --> 00:10:04,166
like the other side

629
00:10:04,166 --> 00:10:05,833
of any political aisle

630
00:10:05,833 --> 00:10:07,000
is necessarily

631
00:10:07,000 --> 00:10:08,250
the answer.

632
00:10:08,250 --> 00:10:08,791
The answer

633
00:10:08,791 --> 00:10:10,166
is not to, to

634
00:10:10,166 --> 00:10:11,375
to like turn the wheel

635
00:10:11,375 --> 00:10:11,875
to another

636
00:10:11,875 --> 00:10:13,166
spoke of the wheel.

637
00:10:13,166 --> 00:10:13,916
It's to break

638
00:10:13,916 --> 00:10:14,875
the wheels.

639
00:10:14,875 --> 00:10:16,166
Yes. That's right.

640
00:10:16,166 --> 00:10:16,708
I saw Gary

641
00:10:16,708 --> 00:10:17,666
and said, like,

642
00:10:17,666 --> 00:10:18,708
if we want to destroy

643
00:10:18,708 --> 00:10:19,166
the whole

644
00:10:19,166 --> 00:10:19,833
fucking thing

645
00:10:19,833 --> 00:10:20,958
and throw politics

646
00:10:20,958 --> 00:10:21,708
out the window

647
00:10:21,708 --> 00:10:22,291
completely,

648
00:10:22,291 --> 00:10:22,791
that's getting.

649
00:10:22,791 --> 00:10:23,708
Rid of the

650
00:10:23,708 --> 00:10:25,416
the the politicians.

651
00:10:25,416 --> 00:10:25,916
Yeah, that's

652
00:10:25,916 --> 00:10:27,083
the bastard.

653
00:10:27,083 --> 00:10:27,958
Like we have

654
00:10:27,958 --> 00:10:29,333
the evidence for us.

655
00:10:29,333 --> 00:10:30,708
Well, that

656
00:10:30,708 --> 00:10:31,833
that and the roads

657
00:10:31,833 --> 00:10:32,625
and peace and.

658
00:10:32,625 --> 00:10:33,416
Yeah, yeah.

659
00:10:33,416 --> 00:10:33,958
Well it's

660
00:10:33,958 --> 00:10:34,750
and it's like,

661
00:10:34,750 --> 00:10:35,666
first of all,

662
00:10:35,666 --> 00:10:36,083
they're not doing

663
00:10:36,083 --> 00:10:36,750
a very good job

664
00:10:36,750 --> 00:10:37,166
of that here

665
00:10:37,166 --> 00:10:38,291
in Canada anyways.

666
00:10:38,291 --> 00:10:40,000
So I don't know.

667
00:10:40,000 --> 00:10:41,250
But there's this,

668
00:10:41,250 --> 00:10:42,333
I've had this, this

669
00:10:42,333 --> 00:10:43,833
kind of theory.

670
00:10:43,833 --> 00:10:44,875
About, you know,

671
00:10:44,875 --> 00:10:45,583
how do we get

672
00:10:45,583 --> 00:10:46,875
to, to mass

673
00:10:46,875 --> 00:10:48,291
bitcoin adoption,

674
00:10:48,291 --> 00:10:49,541
when does it come

675
00:10:49,541 --> 00:10:50,791
and you know,

676
00:10:50,791 --> 00:10:52,708
the right naturally,

677
00:10:52,708 --> 00:10:53,708
I think

678
00:10:53,708 --> 00:10:55,916
adopted bitcoin simply

679
00:10:55,916 --> 00:10:56,791
because it was the

680
00:10:56,791 --> 00:10:58,708
left in power.

681
00:10:58,708 --> 00:10:59,541
You know like

682
00:10:59,541 --> 00:11:00,000
we have been

683
00:11:00,000 --> 00:11:00,833
getting more

684
00:11:00,833 --> 00:11:01,958
and more progressive

685
00:11:01,958 --> 00:11:03,416
or left for the last

686
00:11:03,416 --> 00:11:04,041
as long as I

687
00:11:04,041 --> 00:11:05,375
can remember.

688
00:11:05,375 --> 00:11:06,166
And so it feels

689
00:11:06,166 --> 00:11:07,166
like naturally

690
00:11:07,166 --> 00:11:08,208
freedom money

691
00:11:08,208 --> 00:11:09,583
goes to the quote

692
00:11:09,583 --> 00:11:10,458
unquote oppressed.

693
00:11:10,458 --> 00:11:11,166
Now, I don't want to,

694
00:11:11,166 --> 00:11:11,500
you know,

695
00:11:11,500 --> 00:11:12,166
I'll use that word

696
00:11:12,166 --> 00:11:12,916
very loosely

697
00:11:12,916 --> 00:11:13,583
and lightly.

698
00:11:13,583 --> 00:11:16,000
Let's, you know, be,

699
00:11:16,000 --> 00:11:16,791
be sensitive,

700
00:11:16,791 --> 00:11:18,708
but at the same time,

701
00:11:18,708 --> 00:11:19,708
moving,

702
00:11:19,708 --> 00:11:20,750
moving the pendulum.

703
00:11:20,750 --> 00:11:21,708
So, you know,

704
00:11:21,708 --> 00:11:22,541
we're moving now

705
00:11:22,541 --> 00:11:23,916
all the way to

706
00:11:23,916 --> 00:11:24,875
to the right,

707
00:11:24,875 --> 00:11:25,708
it seems,

708
00:11:25,708 --> 00:11:26,375
which is great,

709
00:11:26,375 --> 00:11:27,750
which means the left

710
00:11:27,750 --> 00:11:28,541
will eventually

711
00:11:28,541 --> 00:11:29,291
be oppressed.

712
00:11:29,291 --> 00:11:29,791
They will go to

713
00:11:29,791 --> 00:11:30,583
the same things

714
00:11:30,583 --> 00:11:30,958
that us

715
00:11:30,958 --> 00:11:31,541
bitcoiners

716
00:11:31,541 --> 00:11:32,041
have been going

717
00:11:32,041 --> 00:11:32,875
through with the

718
00:11:32,875 --> 00:11:34,291
financial banishment

719
00:11:34,291 --> 00:11:34,833
and the,

720
00:11:34,833 --> 00:11:35,708
you know, the state

721
00:11:35,708 --> 00:11:36,291
calling you

722
00:11:36,291 --> 00:11:37,333
or making up lies

723
00:11:37,333 --> 00:11:38,250
about you and

724
00:11:38,250 --> 00:11:39,041
and whatever

725
00:11:39,041 --> 00:11:39,708
or whatever.

726
00:11:39,708 --> 00:11:40,833
And then they too

727
00:11:40,833 --> 00:11:41,541
will realize,

728
00:11:41,541 --> 00:11:42,708
oh hey, Bitcoin

729
00:11:42,708 --> 00:11:43,666
is nonpartisan.

730
00:11:43,666 --> 00:11:44,458
Bitcoin

731
00:11:44,458 --> 00:11:45,083
is something

732
00:11:45,083 --> 00:11:45,666
that I can

733
00:11:45,666 --> 00:11:46,666
benefit from

734
00:11:46,666 --> 00:11:48,500
within my ideology.

735
00:11:48,500 --> 00:11:49,458
It'll probably change

736
00:11:49,458 --> 00:11:50,250
that ideology

737
00:11:50,250 --> 00:11:50,708
quite a bit

738
00:11:50,708 --> 00:11:51,333
because Bitcoin

739
00:11:51,333 --> 00:11:52,000
changes you

740
00:11:52,000 --> 00:11:52,750
and kind of forces you

741
00:11:52,750 --> 00:11:53,416
to think more

742
00:11:53,416 --> 00:11:54,000
and not just,

743
00:11:54,000 --> 00:11:54,291
you know,

744
00:11:54,291 --> 00:11:55,416
act on emotion,

745
00:11:55,416 --> 00:11:56,750
but it will still,

746
00:11:56,750 --> 00:11:57,166
you know,

747
00:11:57,166 --> 00:11:58,041
it will still be

748
00:11:58,041 --> 00:11:58,583
there as

749
00:11:58,583 --> 00:11:59,916
a freedom tool.

750
00:11:59,916 --> 00:12:00,750
And then

751
00:12:00,750 --> 00:12:01,541
at that point,

752
00:12:01,541 --> 00:12:02,041
I think is

753
00:12:02,041 --> 00:12:03,750
when we get to this

754
00:12:03,750 --> 00:12:04,666
hyper bitcoin

755
00:12:04,666 --> 00:12:05,791
ized,

756
00:12:05,791 --> 00:12:06,291
spot,

757
00:12:06,291 --> 00:12:07,916
when both sides of

758
00:12:07,916 --> 00:12:08,541
the aisle

759
00:12:08,541 --> 00:12:09,333
have realized

760
00:12:09,333 --> 00:12:10,500
that is is in fact

761
00:12:10,500 --> 00:12:11,250
the aisle

762
00:12:11,250 --> 00:12:12,625
that is the problem.

763
00:12:12,625 --> 00:12:13,166
And yeah.

764
00:12:13,166 --> 00:12:14,416
And and we can

765
00:12:14,416 --> 00:12:14,666
you know

766
00:12:14,666 --> 00:12:15,375
Bitcoin is like

767
00:12:15,375 --> 00:12:15,833
the bridge

768
00:12:15,833 --> 00:12:16,833
between the aisle

769
00:12:16,833 --> 00:12:17,500
to actually

770
00:12:17,500 --> 00:12:18,500
getting society,

771
00:12:18,500 --> 00:12:19,791
getting humanity

772
00:12:19,791 --> 00:12:20,833
into this spot

773
00:12:20,833 --> 00:12:21,416
that is

774
00:12:21,416 --> 00:12:23,000
that is better.

775
00:12:23,000 --> 00:12:23,416
And I'm.

776
00:12:23,416 --> 00:12:24,166
Or is the bridge

777
00:12:24,166 --> 00:12:25,500
to shore from

778
00:12:25,500 --> 00:12:26,458
from the

779
00:12:26,458 --> 00:12:27,416
or the bridge

780
00:12:27,416 --> 00:12:28,416
to the lifeboat

781
00:12:28,416 --> 00:12:29,625
rather than

782
00:12:29,625 --> 00:12:30,375
within the aisles?

783
00:12:30,375 --> 00:12:31,083
It's away

784
00:12:31,083 --> 00:12:32,458
from both sides

785
00:12:32,458 --> 00:12:32,916
of the aisle.

786
00:12:32,916 --> 00:12:34,958
Yes. Yes, absolutely.

787
00:12:34,958 --> 00:12:35,583
Pick your brain

788
00:12:35,583 --> 00:12:37,041
on one thing.

789
00:12:37,041 --> 00:12:37,958
You mentioned like

790
00:12:37,958 --> 00:12:39,041
mass adoption.

791
00:12:39,041 --> 00:12:39,458
So.

792
00:12:39,458 --> 00:12:40,458
So here's a,

793
00:12:40,458 --> 00:12:41,208
a slightly

794
00:12:41,208 --> 00:12:43,166
unpopular opinion.

795
00:12:43,166 --> 00:12:44,000
And,

796
00:12:44,000 --> 00:12:44,833
I think it's

797
00:12:44,833 --> 00:12:45,708
more important

798
00:12:45,708 --> 00:12:46,833
for all the money

799
00:12:46,833 --> 00:12:47,916
to adopt Bitcoin

800
00:12:47,916 --> 00:12:48,416
than for all

801
00:12:48,416 --> 00:12:48,958
the people

802
00:12:48,958 --> 00:12:50,000
to adopt Bitcoin.

803
00:12:50,000 --> 00:12:50,583
And the reason

804
00:12:50,583 --> 00:12:51,125
I say that

805
00:12:51,125 --> 00:12:51,583
is that

806
00:12:51,583 --> 00:12:52,708
the more wealth

807
00:12:52,708 --> 00:12:53,541
that is

808
00:12:53,541 --> 00:12:54,333
held in

809
00:12:54,333 --> 00:12:55,708
actual self-custody,

810
00:12:56,833 --> 00:12:57,791
as opposed to

811
00:12:57,791 --> 00:13:00,166
ETFs and all of this,

812
00:13:00,166 --> 00:13:00,666
other

813
00:13:00,666 --> 00:13:03,666
fiat world nonsense,

814
00:13:03,666 --> 00:13:04,916
you know,

815
00:13:04,916 --> 00:13:06,333
transitory things

816
00:13:06,333 --> 00:13:07,083
from, from

817
00:13:07,083 --> 00:13:08,250
the legacy system to,

818
00:13:08,250 --> 00:13:08,708
to hyper

819
00:13:08,708 --> 00:13:09,750
bitcoin ization.

820
00:13:09,750 --> 00:13:11,458
I think the, the,

821
00:13:11,458 --> 00:13:13,125
the more people

822
00:13:13,125 --> 00:13:13,500
that are

823
00:13:13,500 --> 00:13:13,958
actually

824
00:13:13,958 --> 00:13:14,791
self-sovereign

825
00:13:14,791 --> 00:13:15,750
and have

826
00:13:15,750 --> 00:13:16,625
a lot of bitcoin

827
00:13:16,625 --> 00:13:17,833
and self-custody their

828
00:13:17,833 --> 00:13:18,583
are the

829
00:13:18,583 --> 00:13:19,708
the more powerful

830
00:13:19,708 --> 00:13:20,375
we become

831
00:13:20,375 --> 00:13:22,166
as a political force

832
00:13:22,166 --> 00:13:23,041
in ourselves.

833
00:13:23,041 --> 00:13:23,875
Like that's

834
00:13:23,875 --> 00:13:24,541
where we can really

835
00:13:24,541 --> 00:13:27,500
start influencing,

836
00:13:27,500 --> 00:13:28,916
you know, regulators

837
00:13:28,916 --> 00:13:29,875
and lawmakers

838
00:13:29,875 --> 00:13:31,000
and such like,

839
00:13:31,000 --> 00:13:33,958
and really

840
00:13:33,958 --> 00:13:34,750
pay ourselves

841
00:13:34,750 --> 00:13:35,666
off the trouble of

842
00:13:35,666 --> 00:13:36,125
because at

843
00:13:36,125 --> 00:13:36,750
the end of the day,

844
00:13:36,750 --> 00:13:37,166
that's what

845
00:13:37,166 --> 00:13:37,916
it's all about.

846
00:13:37,916 --> 00:13:38,583
If you got

847
00:13:38,583 --> 00:13:39,208
enough money,

848
00:13:39,208 --> 00:13:39,708
you can stay

849
00:13:39,708 --> 00:13:40,333
out of trouble.

850
00:13:40,333 --> 00:13:40,875
You can pay

851
00:13:40,875 --> 00:13:41,375
for your own

852
00:13:41,375 --> 00:13:41,666
fucking

853
00:13:41,666 --> 00:13:42,875
defense system,

854
00:13:42,875 --> 00:13:44,000
like guess.

855
00:13:44,000 --> 00:13:44,416
And I

856
00:13:44,416 --> 00:13:45,125
and I realize

857
00:13:45,125 --> 00:13:45,916
I swear a lot here,

858
00:13:45,916 --> 00:13:46,416
but what are

859
00:13:46,416 --> 00:13:48,041
your thoughts? Yeah.

860
00:13:48,041 --> 00:13:48,416
So what do you

861
00:13:48,416 --> 00:13:48,875
what do you mean

862
00:13:48,875 --> 00:13:49,333
exactly

863
00:13:49,333 --> 00:13:49,916
by all the like,

864
00:13:49,916 --> 00:13:50,541
what's the difference

865
00:13:50,541 --> 00:13:51,583
between the money

866
00:13:51,583 --> 00:13:52,708
and the people?

867
00:13:52,708 --> 00:13:54,333
So, so

868
00:13:54,333 --> 00:13:55,416
I, I don't view

869
00:13:55,416 --> 00:13:56,041
Bitcoin as

870
00:13:56,041 --> 00:13:57,333
being for everybody,

871
00:13:57,333 --> 00:13:58,708
but for anybody

872
00:13:58,708 --> 00:13:59,416
like Bitcoin

873
00:13:59,416 --> 00:14:00,791
is for anybody

874
00:14:00,791 --> 00:14:01,916
because not

875
00:14:01,916 --> 00:14:04,458
everyone is suitable

876
00:14:05,583 --> 00:14:06,916
or capable

877
00:14:06,916 --> 00:14:08,250
of of the

878
00:14:08,250 --> 00:14:08,958
taking care

879
00:14:08,958 --> 00:14:10,208
of their own shit.

880
00:14:10,208 --> 00:14:10,666
Like there's

881
00:14:10,666 --> 00:14:11,333
a lot of people

882
00:14:11,333 --> 00:14:13,125
that sort of need,

883
00:14:13,125 --> 00:14:13,833
a provider

884
00:14:13,833 --> 00:14:14,625
and that could be

885
00:14:14,625 --> 00:14:15,875
anything from

886
00:14:15,875 --> 00:14:17,291
your senile mum

887
00:14:17,291 --> 00:14:18,666
to your kids

888
00:14:18,666 --> 00:14:19,458
to to

889
00:14:19,458 --> 00:14:20,375
whoever else

890
00:14:20,375 --> 00:14:21,208
in your family

891
00:14:21,208 --> 00:14:22,708
needs your support.

892
00:14:22,708 --> 00:14:22,833
Well,

893
00:14:22,833 --> 00:14:23,458
what I, what

894
00:14:23,458 --> 00:14:24,166
I'm sure of

895
00:14:24,166 --> 00:14:26,791
is that the, you know,

896
00:14:26,791 --> 00:14:28,625
supportive of

897
00:14:28,625 --> 00:14:30,333
head of the family

898
00:14:30,333 --> 00:14:32,250
is a more suitable

899
00:14:32,250 --> 00:14:32,958
provider

900
00:14:32,958 --> 00:14:33,750
of that stuff

901
00:14:33,750 --> 00:14:35,000
than the state.

902
00:14:35,000 --> 00:14:35,750
What what what

903
00:14:35,750 --> 00:14:36,208
we've done

904
00:14:36,208 --> 00:14:36,875
today is that

905
00:14:36,875 --> 00:14:37,833
we've outsourced

906
00:14:37,833 --> 00:14:39,000
all the responsibility

907
00:14:39,000 --> 00:14:39,541
to the state.

908
00:14:39,541 --> 00:14:41,250
So everyone becomes,

909
00:14:41,250 --> 00:14:42,125
a victim

910
00:14:42,125 --> 00:14:42,583
because it's

911
00:14:42,583 --> 00:14:43,250
profitable to be

912
00:14:43,250 --> 00:14:44,166
victim like,

913
00:14:44,166 --> 00:14:46,416
everyone becomes a,

914
00:14:46,416 --> 00:14:47,375
benefit

915
00:14:47,375 --> 00:14:49,125
instead of a provider.

916
00:14:49,125 --> 00:14:50,291
And I think that's,

917
00:14:50,291 --> 00:14:52,125
like the real thing

918
00:14:52,125 --> 00:14:52,708
to fix here,

919
00:14:52,708 --> 00:14:53,666
to get away from that.

920
00:14:53,666 --> 00:14:54,000
So that

921
00:14:54,000 --> 00:14:54,916
responsibility,

922
00:14:56,375 --> 00:14:57,208
inherently

923
00:14:57,208 --> 00:14:58,583
responsible people

924
00:14:58,583 --> 00:15:00,583
can start taking some,

925
00:15:00,583 --> 00:15:01,250
some damn

926
00:15:01,250 --> 00:15:02,125
responsibility

927
00:15:02,125 --> 00:15:02,958
for their own lives

928
00:15:02,958 --> 00:15:03,916
and their own,

929
00:15:03,916 --> 00:15:04,708
happiness like,

930
00:15:04,708 --> 00:15:05,041
and their

931
00:15:05,041 --> 00:15:07,500
and their families,

932
00:15:07,500 --> 00:15:08,541
because it's

933
00:15:08,541 --> 00:15:09,375
the freedom

934
00:15:09,375 --> 00:15:10,458
responsibility coin.

935
00:15:10,458 --> 00:15:11,666
So, so yeah,

936
00:15:11,666 --> 00:15:12,416
that's what I mean

937
00:15:12,416 --> 00:15:13,791
by the money

938
00:15:13,791 --> 00:15:14,708
getting into Bitcoin

939
00:15:14,708 --> 00:15:17,708
is that the more

940
00:15:18,416 --> 00:15:20,208
the more influence

941
00:15:20,208 --> 00:15:20,791
you have over

942
00:15:20,791 --> 00:15:21,500
other people.

943
00:15:21,500 --> 00:15:23,041
So like the more

944
00:15:23,041 --> 00:15:23,875
which is

945
00:15:23,875 --> 00:15:24,875
sort of equivalent

946
00:15:24,875 --> 00:15:25,375
to how much

947
00:15:25,375 --> 00:15:26,083
wealth you have,

948
00:15:26,083 --> 00:15:26,791
because you can

949
00:15:26,791 --> 00:15:27,458
use that wealth

950
00:15:27,458 --> 00:15:28,333
to buy stuff.

951
00:15:28,333 --> 00:15:29,166
And by doing that

952
00:15:29,166 --> 00:15:29,916
you sort of vote

953
00:15:29,916 --> 00:15:31,083
with your wallet

954
00:15:31,083 --> 00:15:32,666
on what gets,

955
00:15:32,666 --> 00:15:33,208
promoted in

956
00:15:33,208 --> 00:15:34,083
the market.

957
00:15:34,083 --> 00:15:35,375
So, so I think it's,

958
00:15:35,375 --> 00:15:36,000
it's more

959
00:15:36,000 --> 00:15:37,833
important for

960
00:15:37,833 --> 00:15:38,791
someone like Elon

961
00:15:38,791 --> 00:15:40,875
Musk to become,

962
00:15:40,875 --> 00:15:43,083
orange peel than,

963
00:15:43,083 --> 00:15:45,333
than your average

964
00:15:45,333 --> 00:15:46,708
truck driver, Igor.

965
00:15:46,708 --> 00:15:47,458
The truck driver

966
00:15:47,458 --> 00:15:49,916
in Canada, like,

967
00:15:49,916 --> 00:15:50,750
so, but,

968
00:15:50,750 --> 00:15:52,583
and this might be,

969
00:15:52,583 --> 00:15:53,250
somewhat,

970
00:15:54,458 --> 00:15:55,291
controversial

971
00:15:55,291 --> 00:15:56,375
take, but I'd

972
00:15:56,375 --> 00:15:56,916
just like to

973
00:15:56,916 --> 00:15:57,416
hear your thoughts

974
00:15:57,416 --> 00:15:58,166
on it.

975
00:15:58,166 --> 00:15:58,458
Yeah.

976
00:15:58,458 --> 00:15:58,708
I mean,

977
00:15:58,708 --> 00:16:00,750
I think that you're

978
00:16:00,750 --> 00:16:01,625
probably on to it

979
00:16:01,625 --> 00:16:01,833
with.

980
00:16:01,833 --> 00:16:02,250
It's that

981
00:16:02,250 --> 00:16:03,583
it's for anybody.

982
00:16:03,583 --> 00:16:05,916
Not not everybody.

983
00:16:05,916 --> 00:16:07,166
But I think that it,

984
00:16:07,166 --> 00:16:08,041
it employs

985
00:16:08,041 --> 00:16:09,416
kind of a

986
00:16:09,416 --> 00:16:10,958
natural growth and,

987
00:16:10,958 --> 00:16:11,583
or natural

988
00:16:11,583 --> 00:16:13,583
selection behind

989
00:16:13,583 --> 00:16:14,375
who does or

990
00:16:14,375 --> 00:16:15,500
who can adopt it.

991
00:16:15,500 --> 00:16:15,791
I think

992
00:16:15,791 --> 00:16:17,208
that eventually

993
00:16:17,208 --> 00:16:19,125
if you cannot adopt

994
00:16:19,125 --> 00:16:22,125
a Bitcoin standard,

995
00:16:22,333 --> 00:16:24,666
you're kind of toast

996
00:16:24,666 --> 00:16:25,416
if you can't

997
00:16:25,416 --> 00:16:26,041
figure out

998
00:16:26,041 --> 00:16:27,625
how to self-custody,

999
00:16:27,625 --> 00:16:28,166
you will

1000
00:16:28,166 --> 00:16:30,125
inevitably become

1001
00:16:30,125 --> 00:16:31,541
a, a slave.

1002
00:16:31,541 --> 00:16:32,375
But I but I,

1003
00:16:32,375 --> 00:16:34,541
I think that

1004
00:16:34,541 --> 00:16:36,750
the incentive to learn

1005
00:16:36,750 --> 00:16:39,166
Bitcoin is so great

1006
00:16:39,166 --> 00:16:40,166
that 1 to

1007
00:16:40,166 --> 00:16:41,541
2 generations

1008
00:16:41,541 --> 00:16:43,291
and you will be

1009
00:16:43,291 --> 00:16:45,166
in fantastic like the

1010
00:16:45,166 --> 00:16:45,750
I think it's just

1011
00:16:45,750 --> 00:16:47,458
it's adopt or die.

1012
00:16:47,458 --> 00:16:48,208
And I

1013
00:16:48,208 --> 00:16:49,166
think that you're

1014
00:16:49,166 --> 00:16:50,791
probably correct

1015
00:16:50,791 --> 00:16:51,666
as far as who's

1016
00:16:51,666 --> 00:16:52,833
more important,

1017
00:16:52,833 --> 00:16:53,791
it's hard to say.

1018
00:16:53,791 --> 00:16:55,416
I think that,

1019
00:16:55,416 --> 00:16:56,166
you know,

1020
00:16:56,166 --> 00:16:57,208
what's better, the

1021
00:16:57,208 --> 00:16:58,875
smart man with,

1022
00:16:59,833 --> 00:17:00,416
you know,

1023
00:17:00,416 --> 00:17:01,750
this, the smart man

1024
00:17:01,750 --> 00:17:03,458
who can gain nothing,

1025
00:17:03,458 --> 00:17:04,875
or the hungry

1026
00:17:04,875 --> 00:17:05,583
man who has

1027
00:17:05,583 --> 00:17:06,958
everything to gain.

1028
00:17:06,958 --> 00:17:08,458
And it's it's

1029
00:17:08,458 --> 00:17:09,500
it's an interesting

1030
00:17:09,500 --> 00:17:10,083
kind of thought

1031
00:17:10,083 --> 00:17:12,375
exercise where,

1032
00:17:12,375 --> 00:17:13,708
you know, I,

1033
00:17:13,708 --> 00:17:15,000
I look back at my life

1034
00:17:15,000 --> 00:17:15,250
and who

1035
00:17:15,250 --> 00:17:16,041
I've worked with.

1036
00:17:16,041 --> 00:17:17,458
And sometimes

1037
00:17:17,458 --> 00:17:18,208
the smartest isn't

1038
00:17:18,208 --> 00:17:18,666
always the

1039
00:17:18,666 --> 00:17:19,500
best choice.

1040
00:17:19,500 --> 00:17:20,000
They're not always

1041
00:17:20,000 --> 00:17:20,750
going to have your,

1042
00:17:20,750 --> 00:17:22,875
your back.

1043
00:17:22,875 --> 00:17:23,541
It's definitely

1044
00:17:23,541 --> 00:17:24,000
the one

1045
00:17:24,000 --> 00:17:26,166
that is hungriest

1046
00:17:26,166 --> 00:17:26,583
with the

1047
00:17:26,583 --> 00:17:27,750
aligned incentives

1048
00:17:27,750 --> 00:17:28,166
that are

1049
00:17:28,166 --> 00:17:28,416
that it's

1050
00:17:28,416 --> 00:17:31,416
going to be best,

1051
00:17:31,500 --> 00:17:32,166
for whatever

1052
00:17:32,166 --> 00:17:33,875
I needed best to be.

1053
00:17:33,875 --> 00:17:36,875
And so I feel like,

1054
00:17:36,875 --> 00:17:37,250
you know,

1055
00:17:37,250 --> 00:17:38,666
certainly, Elon

1056
00:17:38,666 --> 00:17:39,875
getting orange pilled

1057
00:17:39,875 --> 00:17:41,875
would be positive.

1058
00:17:41,875 --> 00:17:42,416
He's got a big

1059
00:17:42,416 --> 00:17:43,083
influence

1060
00:17:43,083 --> 00:17:43,375
and lots of

1061
00:17:43,375 --> 00:17:44,666
other people.

1062
00:17:44,666 --> 00:17:45,416
But I wonder

1063
00:17:45,416 --> 00:17:46,583
if that actually hurts

1064
00:17:46,583 --> 00:17:47,916
because

1065
00:17:47,916 --> 00:17:48,541
people just do

1066
00:17:48,541 --> 00:17:49,500
what Elon says.

1067
00:17:49,500 --> 00:17:50,166
They don't actually

1068
00:17:50,166 --> 00:17:51,333
go down the orange

1069
00:17:51,333 --> 00:17:52,916
pill rabbit hole.

1070
00:17:52,916 --> 00:17:53,250
No.

1071
00:17:53,250 --> 00:17:53,666
And this is

1072
00:17:53,666 --> 00:17:54,375
so interesting

1073
00:17:54,375 --> 00:17:54,958
because the same

1074
00:17:54,958 --> 00:17:55,750
is true for like,

1075
00:17:57,333 --> 00:17:58,291
this, this,

1076
00:17:58,291 --> 00:18:01,291
this question of,

1077
00:18:01,625 --> 00:18:02,916
what would you prefer,

1078
00:18:02,916 --> 00:18:03,416
a pro

1079
00:18:03,416 --> 00:18:04,791
bitcoin politician

1080
00:18:04,791 --> 00:18:05,416
or an anti

1081
00:18:05,416 --> 00:18:07,208
bitcoin politician?

1082
00:18:07,208 --> 00:18:08,000
Because there are

1083
00:18:08,000 --> 00:18:08,791
there are two sides

1084
00:18:08,791 --> 00:18:09,666
to that coin. Right.

1085
00:18:09,666 --> 00:18:10,916
Like if, if,

1086
00:18:10,916 --> 00:18:11,916
if you let a

1087
00:18:11,916 --> 00:18:13,375
politician dictate

1088
00:18:13,375 --> 00:18:14,375
whether you can

1089
00:18:14,375 --> 00:18:15,916
or cannot run a node,

1090
00:18:15,916 --> 00:18:17,166
you're sort of

1091
00:18:17,166 --> 00:18:18,333
missing the point.

1092
00:18:18,333 --> 00:18:19,416
The point is that

1093
00:18:19,416 --> 00:18:20,458
I'm running the node

1094
00:18:20,458 --> 00:18:21,041
because

1095
00:18:21,041 --> 00:18:22,125
because fuck you,

1096
00:18:22,125 --> 00:18:22,541
I won't do

1097
00:18:22,541 --> 00:18:23,208
what you tell me.

1098
00:18:23,208 --> 00:18:23,666
That's the

1099
00:18:23,666 --> 00:18:24,041
that's the

1100
00:18:24,041 --> 00:18:25,541
reason like,

1101
00:18:25,541 --> 00:18:26,166
and you don't

1102
00:18:26,166 --> 00:18:27,083
really get there

1103
00:18:27,083 --> 00:18:28,208
if it's not

1104
00:18:28,208 --> 00:18:29,083
permissionless,

1105
00:18:29,083 --> 00:18:30,875
if it's permissioned.

1106
00:18:30,875 --> 00:18:31,416
Totally.

1107
00:18:31,416 --> 00:18:32,583
And, and

1108
00:18:32,583 --> 00:18:33,125
but the,

1109
00:18:33,125 --> 00:18:33,916
the other side to

1110
00:18:33,916 --> 00:18:35,166
that is like this pro

1111
00:18:35,166 --> 00:18:36,458
bitcoin stuff.

1112
00:18:36,458 --> 00:18:37,333
I feel like we

1113
00:18:37,333 --> 00:18:38,375
as Bitcoiners

1114
00:18:38,375 --> 00:18:39,375
have moved very,

1115
00:18:39,375 --> 00:18:39,916
very quickly

1116
00:18:39,916 --> 00:18:40,666
to just LARPing

1117
00:18:40,666 --> 00:18:41,750
for the state.

1118
00:18:41,750 --> 00:18:44,291
And it, it, it

1119
00:18:44,291 --> 00:18:45,583
it is worrisome to me.

1120
00:18:45,583 --> 00:18:47,291
I share these same

1121
00:18:47,291 --> 00:18:48,416
these same convictions

1122
00:18:48,416 --> 00:18:48,666
and these

1123
00:18:48,666 --> 00:18:49,541
same worries.

1124
00:18:50,916 --> 00:18:51,750
I think and

1125
00:18:51,750 --> 00:18:52,625
it inevitably

1126
00:18:52,625 --> 00:18:53,458
doesn't matter.

1127
00:18:53,458 --> 00:18:55,166
I think that what

1128
00:18:55,166 --> 00:18:55,833
the release

1129
00:18:55,833 --> 00:18:56,458
that's happening

1130
00:18:56,458 --> 00:18:57,250
right now

1131
00:18:57,250 --> 00:18:58,666
universally

1132
00:18:58,666 --> 00:18:59,666
is Bitcoiners

1133
00:18:59,666 --> 00:19:00,250
being told

1134
00:19:00,250 --> 00:19:01,041
they were wrong

1135
00:19:01,041 --> 00:19:02,208
for so long,

1136
00:19:02,208 --> 00:19:02,708
being told

1137
00:19:02,708 --> 00:19:03,541
they were foolish

1138
00:19:03,541 --> 00:19:05,666
for so for so long.

1139
00:19:05,666 --> 00:19:06,333
And now what

1140
00:19:06,333 --> 00:19:07,000
you're suggesting

1141
00:19:07,000 --> 00:19:07,500
the Elon

1142
00:19:07,500 --> 00:19:09,000
Musks of the world

1143
00:19:09,000 --> 00:19:09,875
are like,

1144
00:19:09,875 --> 00:19:10,666
oh, this guy

1145
00:19:10,666 --> 00:19:11,375
has had it right

1146
00:19:11,375 --> 00:19:12,666
the whole time.

1147
00:19:12,666 --> 00:19:13,791
And we're like,

1148
00:19:13,791 --> 00:19:14,125
you know,

1149
00:19:14,125 --> 00:19:15,000
for some reason,

1150
00:19:15,000 --> 00:19:15,625
all of a sudden

1151
00:19:15,625 --> 00:19:16,500
the validation

1152
00:19:16,500 --> 00:19:16,958
that we

1153
00:19:16,958 --> 00:19:17,458
apparently didn't

1154
00:19:17,458 --> 00:19:19,291
care about and the,

1155
00:19:19,291 --> 00:19:20,250
you know, the pat

1156
00:19:20,250 --> 00:19:20,833
on the back

1157
00:19:20,833 --> 00:19:21,750
that we, you know,

1158
00:19:21,750 --> 00:19:22,208
I thought

1159
00:19:22,208 --> 00:19:23,958
didn't care about,

1160
00:19:23,958 --> 00:19:24,416
is very,

1161
00:19:24,416 --> 00:19:25,416
very important to us.

1162
00:19:25,416 --> 00:19:26,458
And we're like more,

1163
00:19:26,458 --> 00:19:27,125
more, more,

1164
00:19:27,125 --> 00:19:28,208
more, more.

1165
00:19:28,208 --> 00:19:28,916
And it's,

1166
00:19:28,916 --> 00:19:29,416
yeah, it's

1167
00:19:29,416 --> 00:19:29,875
an interesting

1168
00:19:29,875 --> 00:19:31,166
dynamic.

1169
00:19:31,166 --> 00:19:31,416
Yeah.

1170
00:19:31,416 --> 00:19:31,916
And it's

1171
00:19:31,916 --> 00:19:32,541
kind of sad

1172
00:19:32,541 --> 00:19:33,750
because I hate,

1173
00:19:33,750 --> 00:19:34,833
to see Bitcoiners

1174
00:19:34,833 --> 00:19:35,458
sucking up to

1175
00:19:35,458 --> 00:19:37,708
politicians and, Yeah.

1176
00:19:37,708 --> 00:19:38,916
And I understand

1177
00:19:38,916 --> 00:19:39,875
the appeal of Trump,

1178
00:19:39,875 --> 00:19:41,041
like, because he's,

1179
00:19:42,083 --> 00:19:43,083
in many ways the

1180
00:19:43,083 --> 00:19:44,083
opposite of

1181
00:19:44,083 --> 00:19:44,916
a politician.

1182
00:19:44,916 --> 00:19:45,416
Like his

1183
00:19:45,416 --> 00:19:46,166
his rhetoric

1184
00:19:46,166 --> 00:19:47,166
is like the opposite

1185
00:19:47,166 --> 00:19:47,541
of what

1186
00:19:47,541 --> 00:19:48,833
a quote unquote

1187
00:19:48,833 --> 00:19:49,833
normal politician

1188
00:19:49,833 --> 00:19:50,250
would say.

1189
00:19:50,250 --> 00:19:50,958
And I can see

1190
00:19:50,958 --> 00:19:51,958
why people like that.

1191
00:19:51,958 --> 00:19:52,916
It's the rebellion

1192
00:19:52,916 --> 00:19:53,958
of the of the thing.

1193
00:19:53,958 --> 00:19:54,666
But but

1194
00:19:54,666 --> 00:19:55,375
just the other day

1195
00:19:55,375 --> 00:19:56,666
he tweeted something

1196
00:19:56,666 --> 00:19:57,625
like,

1197
00:19:57,625 --> 00:20:00,625
Bitcoin's over 100 K,

1198
00:20:00,875 --> 00:20:02,458
dollars.

1199
00:20:02,458 --> 00:20:02,875
You're well,

1200
00:20:02,875 --> 00:20:04,291
you're welcome.

1201
00:20:04,291 --> 00:20:05,458
And what he doesn't

1202
00:20:05,458 --> 00:20:07,375
realize like, like

1203
00:20:07,375 --> 00:20:07,833
Donald.

1204
00:20:07,833 --> 00:20:09,166
You're welcome.

1205
00:20:09,166 --> 00:20:09,958
Yeah.

1206
00:20:09,958 --> 00:20:11,458
You're in debt to us,

1207
00:20:11,458 --> 00:20:12,166
not the other way

1208
00:20:12,166 --> 00:20:12,541
around.

1209
00:20:12,541 --> 00:20:13,375
Like Bitcoin

1210
00:20:13,375 --> 00:20:14,333
helped you

1211
00:20:14,333 --> 00:20:15,125
more than you

1212
00:20:15,125 --> 00:20:15,750
helped it.

1213
00:20:15,750 --> 00:20:16,250
Sure,

1214
00:20:16,250 --> 00:20:16,916
there's a

1215
00:20:16,916 --> 00:20:18,125
bull bull market

1216
00:20:18,125 --> 00:20:19,166
and everything,

1217
00:20:19,166 --> 00:20:20,250
but the fundamentals

1218
00:20:20,250 --> 00:20:21,333
are still the same.

1219
00:20:21,333 --> 00:20:22,291
And it's

1220
00:20:22,291 --> 00:20:22,875
you are going to

1221
00:20:22,875 --> 00:20:23,708
be the dinosaur.

1222
00:20:23,708 --> 00:20:24,208
Like you're

1223
00:20:24,208 --> 00:20:24,916
the one facing

1224
00:20:24,916 --> 00:20:25,833
the asteroid here.

1225
00:20:25,833 --> 00:20:26,500
The asteroid

1226
00:20:26,500 --> 00:20:28,125
doesn't care,

1227
00:20:28,125 --> 00:20:29,208
that you think

1228
00:20:29,208 --> 00:20:29,875
that you made

1229
00:20:29,875 --> 00:20:31,041
the asteroid stronger

1230
00:20:31,041 --> 00:20:32,291
or weaker, like

1231
00:20:32,291 --> 00:20:33,000
the asteroid

1232
00:20:33,000 --> 00:20:33,291
is still

1233
00:20:33,291 --> 00:20:33,958
coming for you,

1234
00:20:33,958 --> 00:20:34,166
and you're

1235
00:20:34,166 --> 00:20:35,375
still a dinosaur,

1236
00:20:35,375 --> 00:20:36,583
like.

1237
00:20:36,583 --> 00:20:37,708
So 100%.

1238
00:20:37,708 --> 00:20:39,708
Well, yeah, he. Yeah.

1239
00:20:39,708 --> 00:20:40,000
I mean,

1240
00:20:40,000 --> 00:20:40,875
probably like

1241
00:20:40,875 --> 00:20:41,708
to be fair

1242
00:20:41,708 --> 00:20:43,500
in, in the short

1243
00:20:43,500 --> 00:20:44,875
term, like,

1244
00:20:44,875 --> 00:20:46,041
it certainly lines up

1245
00:20:46,041 --> 00:20:47,333
that the pro Bitcoin

1246
00:20:47,333 --> 00:20:48,208
administration

1247
00:20:48,208 --> 00:20:48,916
is giving

1248
00:20:48,916 --> 00:20:51,333
Wall Street the,

1249
00:20:51,333 --> 00:20:53,000
you know the courage

1250
00:20:53,000 --> 00:20:54,250
or whatever

1251
00:20:54,250 --> 00:20:54,833
to to

1252
00:20:54,833 --> 00:20:56,041
enter the market. But

1253
00:20:57,125 --> 00:20:57,750
I don't think

1254
00:20:57,750 --> 00:20:59,541
bitcoin needed that.

1255
00:20:59,541 --> 00:20:59,916
I think

1256
00:20:59,916 --> 00:21:01,708
the price of Bitcoin

1257
00:21:01,708 --> 00:21:03,750
probably needed that

1258
00:21:03,750 --> 00:21:04,833
in the short term.

1259
00:21:04,833 --> 00:21:05,833
But I think

1260
00:21:05,833 --> 00:21:07,708
oh on the macro

1261
00:21:07,708 --> 00:21:11,416
like my kids in 2078,

1262
00:21:12,208 --> 00:21:13,166
the price of Bitcoin

1263
00:21:13,166 --> 00:21:13,916
doesn't care

1264
00:21:13,916 --> 00:21:15,000
who the president was

1265
00:21:15,000 --> 00:21:16,208
in 2025.

1266
00:21:16,208 --> 00:21:16,625
Like it's

1267
00:21:16,625 --> 00:21:17,541
just it's

1268
00:21:17,541 --> 00:21:19,125
a non it's a non-issue

1269
00:21:19,125 --> 00:21:19,833
for Bitcoin

1270
00:21:19,833 --> 00:21:20,541
on the long term.

1271
00:21:20,541 --> 00:21:22,083
So on the micro

1272
00:21:22,083 --> 00:21:22,833
you know probably if

1273
00:21:22,833 --> 00:21:24,083
Kamala gets in

1274
00:21:24,083 --> 00:21:24,958
Bitcoin dumps

1275
00:21:24,958 --> 00:21:27,958
because like

1276
00:21:27,958 --> 00:21:28,375
you know

1277
00:21:28,375 --> 00:21:29,541
she's a communist

1278
00:21:29,541 --> 00:21:30,541
that hates freedom.

1279
00:21:30,541 --> 00:21:32,041
And so freedom money

1280
00:21:32,041 --> 00:21:32,666
doesn't do well

1281
00:21:32,666 --> 00:21:32,916
under that

1282
00:21:32,916 --> 00:21:33,916
administration

1283
00:21:33,916 --> 00:21:35,666
on the micro.

1284
00:21:35,666 --> 00:21:37,000
That said

1285
00:21:37,000 --> 00:21:37,416
I think

1286
00:21:37,416 --> 00:21:38,375
the three of us

1287
00:21:38,375 --> 00:21:38,833
and I'll speak

1288
00:21:38,833 --> 00:21:39,416
for you guys

1289
00:21:39,416 --> 00:21:39,958
and you can tell me

1290
00:21:39,958 --> 00:21:41,208
where I went wrong,

1291
00:21:41,208 --> 00:21:42,791
is we don't really

1292
00:21:42,791 --> 00:21:43,875
the short term price

1293
00:21:43,875 --> 00:21:44,291
is less

1294
00:21:44,291 --> 00:21:45,541
important to me

1295
00:21:45,541 --> 00:21:45,958
probably than

1296
00:21:45,958 --> 00:21:47,208
it's ever been,

1297
00:21:47,208 --> 00:21:47,666
because I'm

1298
00:21:47,666 --> 00:21:49,583
so focused on

1299
00:21:49,583 --> 00:21:51,541
building responsible

1300
00:21:51,541 --> 00:21:53,125
children and heirs

1301
00:21:53,125 --> 00:21:53,583
that can

1302
00:21:53,583 --> 00:21:54,125
that can

1303
00:21:54,125 --> 00:21:55,125
take the torch,

1304
00:21:55,125 --> 00:21:56,250
so to speak.

1305
00:21:56,250 --> 00:21:57,666
And frankly,

1306
00:21:57,666 --> 00:21:59,958
you know, the

1307
00:21:59,958 --> 00:22:00,333
the higher

1308
00:22:00,333 --> 00:22:00,791
the price of

1309
00:22:00,791 --> 00:22:01,583
Bitcoin goes,

1310
00:22:01,583 --> 00:22:01,916
probably the

1311
00:22:01,916 --> 00:22:02,625
more difficult

1312
00:22:02,625 --> 00:22:03,833
that's going to be

1313
00:22:03,833 --> 00:22:05,250
to like teach

1314
00:22:05,250 --> 00:22:06,416
that responsibility

1315
00:22:06,416 --> 00:22:06,958
and the more

1316
00:22:06,958 --> 00:22:07,500
discipline that

1317
00:22:07,500 --> 00:22:08,291
will be required.

1318
00:22:08,291 --> 00:22:08,791
And so,

1319
00:22:09,791 --> 00:22:11,416
yeah, I think that,

1320
00:22:11,416 --> 00:22:11,833
you know,

1321
00:22:11,833 --> 00:22:12,416
Trump taking

1322
00:22:12,416 --> 00:22:13,916
credit is horribly

1323
00:22:13,916 --> 00:22:15,750
un bitcoin.

1324
00:22:15,750 --> 00:22:17,291
It's horribly,

1325
00:22:17,291 --> 00:22:18,666
you know, shows

1326
00:22:18,666 --> 00:22:19,625
and I and I watched

1327
00:22:19,625 --> 00:22:20,583
both him and RFK

1328
00:22:20,583 --> 00:22:21,375
and Nashville.

1329
00:22:21,375 --> 00:22:22,291
Trump has no idea

1330
00:22:22,291 --> 00:22:22,458
what he's

1331
00:22:22,458 --> 00:22:23,708
talking about.

1332
00:22:23,708 --> 00:22:24,791
He's he's reading

1333
00:22:24,791 --> 00:22:25,708
a script

1334
00:22:25,708 --> 00:22:26,375
that someone

1335
00:22:26,375 --> 00:22:28,083
semi knowledgeable

1336
00:22:28,083 --> 00:22:29,750
wrote for him.

1337
00:22:29,750 --> 00:22:30,291
He's got he's

1338
00:22:30,291 --> 00:22:31,916
got no clue.

1339
00:22:31,916 --> 00:22:33,416
RFK, though,

1340
00:22:33,416 --> 00:22:35,083
he has it.

1341
00:22:35,083 --> 00:22:36,333
RFK is fully

1342
00:22:36,333 --> 00:22:37,083
in the trenches.

1343
00:22:37,083 --> 00:22:38,000
He is with us.

1344
00:22:38,000 --> 00:22:39,750
He understands the big

1345
00:22:39,750 --> 00:22:41,166
the big.

1346
00:22:41,166 --> 00:22:41,375
Yeah,

1347
00:22:41,375 --> 00:22:41,791
he understands

1348
00:22:41,791 --> 00:22:42,833
the protocol and and

1349
00:22:42,833 --> 00:22:43,166
and the

1350
00:22:43,166 --> 00:22:45,166
importance of it.

1351
00:22:45,166 --> 00:22:45,625
And that's

1352
00:22:45,625 --> 00:22:46,333
cool to see,

1353
00:22:46,333 --> 00:22:47,875
but I think largely

1354
00:22:47,875 --> 00:22:48,500
irrelevant to

1355
00:22:48,500 --> 00:22:49,250
the macro.

1356
00:22:49,250 --> 00:22:50,500
Yeah, I totally agree.

1357
00:22:50,500 --> 00:22:51,083
And like.

1358
00:22:51,083 --> 00:22:52,833
But for all

1359
00:22:52,833 --> 00:22:53,958
the Trump tweet,

1360
00:22:53,958 --> 00:22:54,791
don't get me wrong,

1361
00:22:54,791 --> 00:22:56,500
I, I still,

1362
00:22:56,500 --> 00:22:57,375
appreciate

1363
00:22:57,375 --> 00:22:58,541
the trolling

1364
00:22:58,541 --> 00:22:59,375
nature of

1365
00:22:59,375 --> 00:23:00,333
his character

1366
00:23:00,333 --> 00:23:00,958
like that.

1367
00:23:00,958 --> 00:23:01,375
He,

1368
00:23:01,375 --> 00:23:02,791
he sees an opportunity

1369
00:23:02,791 --> 00:23:03,916
to troll someone

1370
00:23:03,916 --> 00:23:04,791
and it just

1371
00:23:04,791 --> 00:23:06,333
it regardless of what

1372
00:23:06,333 --> 00:23:06,833
people are going

1373
00:23:06,833 --> 00:23:07,916
to think about him.

1374
00:23:07,916 --> 00:23:08,583
It's fun to.

1375
00:23:08,583 --> 00:23:09,708
See that, right?

1376
00:23:09,708 --> 00:23:12,083
Yeah. Unprecedented.

1377
00:23:12,083 --> 00:23:12,458
Nice.

1378
00:23:13,708 --> 00:23:14,583
Yeah.

1379
00:23:14,583 --> 00:23:14,916
No.

1380
00:23:14,916 --> 00:23:15,416
So, so

1381
00:23:15,416 --> 00:23:16,458
so it's

1382
00:23:16,458 --> 00:23:18,666
still very funny, but.

1383
00:23:18,666 --> 00:23:19,041
Yeah.

1384
00:23:19,041 --> 00:23:20,250
And I totally agree.

1385
00:23:20,250 --> 00:23:20,958
This is for the

1386
00:23:20,958 --> 00:23:21,625
the long run

1387
00:23:21,625 --> 00:23:22,250
and everything.

1388
00:23:22,250 --> 00:23:22,958
The way I look at

1389
00:23:22,958 --> 00:23:24,750
it is like,

1390
00:23:24,750 --> 00:23:25,416
this thing is

1391
00:23:25,416 --> 00:23:26,458
going to play out

1392
00:23:26,458 --> 00:23:28,875
in one way or another,

1393
00:23:28,875 --> 00:23:29,458
and we're living

1394
00:23:29,458 --> 00:23:30,208
in the timeline

1395
00:23:30,208 --> 00:23:30,791
that we do.

1396
00:23:30,791 --> 00:23:32,708
We can't really alter

1397
00:23:32,708 --> 00:23:33,875
what happens.

1398
00:23:33,875 --> 00:23:35,000
We can alter move.

1399
00:23:35,000 --> 00:23:36,291
We can influence

1400
00:23:36,291 --> 00:23:37,083
our friends here

1401
00:23:37,083 --> 00:23:37,458
and there,

1402
00:23:37,458 --> 00:23:38,458
and we can do this

1403
00:23:38,458 --> 00:23:39,333
and that.

1404
00:23:39,333 --> 00:23:40,166
But on a

1405
00:23:40,166 --> 00:23:40,916
grander scale,

1406
00:23:40,916 --> 00:23:42,041
we all we can do

1407
00:23:42,041 --> 00:23:42,875
is just sit back

1408
00:23:42,875 --> 00:23:43,708
and enjoy the show

1409
00:23:43,708 --> 00:23:44,666
and grab the popcorn

1410
00:23:44,666 --> 00:23:46,541
and see that, like,

1411
00:23:46,541 --> 00:23:47,375
and that's the way

1412
00:23:47,375 --> 00:23:48,125
to tackle this.

1413
00:23:48,125 --> 00:23:49,541
Just relax,

1414
00:23:49,541 --> 00:23:50,666
keep on hodling.

1415
00:23:50,666 --> 00:23:52,208
Stay humble.

1416
00:23:52,208 --> 00:23:53,333
Stack those SATs

1417
00:23:53,333 --> 00:23:54,375
if you can.

1418
00:23:54,375 --> 00:23:55,541
Or just sit there

1419
00:23:55,541 --> 00:23:57,125
and don't overspend

1420
00:23:57,125 --> 00:23:57,958
or anything

1421
00:23:57,958 --> 00:23:58,875
stupid like that.

1422
00:23:58,875 --> 00:23:59,250
Don't fall

1423
00:23:59,250 --> 00:24:00,875
into any luxury

1424
00:24:00,875 --> 00:24:02,416
luxury traps.

1425
00:24:02,416 --> 00:24:03,583
Just leave it.

1426
00:24:03,583 --> 00:24:05,041
Just enjoy the ride.

1427
00:24:05,041 --> 00:24:06,166
It's a great show.

1428
00:24:06,166 --> 00:24:06,958
It's the greatest show

1429
00:24:06,958 --> 00:24:07,666
on Earth.

1430
00:24:07,666 --> 00:24:09,208
Well, it's it's that.

1431
00:24:09,208 --> 00:24:10,708
But it also inherently

1432
00:24:10,708 --> 00:24:11,500
teaches us

1433
00:24:11,500 --> 00:24:13,666
to stop this,

1434
00:24:13,666 --> 00:24:14,916
this guise

1435
00:24:14,916 --> 00:24:16,500
of of investing,

1436
00:24:16,500 --> 00:24:17,250
of gambling

1437
00:24:17,250 --> 00:24:17,916
in order to preserve

1438
00:24:17,916 --> 00:24:19,333
purchasing power.

1439
00:24:19,333 --> 00:24:20,583
It actually, Bitcoin

1440
00:24:20,583 --> 00:24:21,791
really incentivizes

1441
00:24:21,791 --> 00:24:23,166
us to

1442
00:24:23,166 --> 00:24:26,166
go provide value.

1443
00:24:26,500 --> 00:24:27,125
The only way

1444
00:24:27,125 --> 00:24:27,750
you get to stack

1445
00:24:27,750 --> 00:24:28,708
SATs is by

1446
00:24:28,708 --> 00:24:29,958
providing value

1447
00:24:29,958 --> 00:24:31,166
to someone

1448
00:24:31,166 --> 00:24:31,833
or some other

1449
00:24:31,833 --> 00:24:32,625
group of people.

1450
00:24:32,625 --> 00:24:33,458
That's the only way

1451
00:24:33,458 --> 00:24:34,500
you get to do it.

1452
00:24:34,500 --> 00:24:35,458
And Bitcoin

1453
00:24:35,458 --> 00:24:36,250
is just a tool

1454
00:24:36,250 --> 00:24:36,875
to preserve

1455
00:24:36,875 --> 00:24:37,875
that value.

1456
00:24:37,875 --> 00:24:40,291
And so like,

1457
00:24:40,291 --> 00:24:40,625
you know,

1458
00:24:40,625 --> 00:24:41,375
speaking about

1459
00:24:41,375 --> 00:24:41,708
what are

1460
00:24:41,708 --> 00:24:42,333
we supposed to do

1461
00:24:42,333 --> 00:24:42,875
right now.

1462
00:24:42,875 --> 00:24:43,791
It's like sit back,

1463
00:24:43,791 --> 00:24:44,583
watch the ride

1464
00:24:44,583 --> 00:24:45,166
and figure out

1465
00:24:45,166 --> 00:24:46,625
how to provide value.

1466
00:24:46,625 --> 00:24:46,958
Build

1467
00:24:46,958 --> 00:24:47,875
your business, build

1468
00:24:47,875 --> 00:24:48,583
your skills,

1469
00:24:48,583 --> 00:24:49,416
build your value

1470
00:24:49,416 --> 00:24:50,500
creation mechanism

1471
00:24:50,500 --> 00:24:51,000
so that you

1472
00:24:51,000 --> 00:24:52,250
have the ability

1473
00:24:52,250 --> 00:24:53,416
to go out.

1474
00:24:53,416 --> 00:24:54,416
And it doesn't matter.

1475
00:24:54,416 --> 00:24:55,208
Bitcoin at

1476
00:24:55,208 --> 00:24:55,875
100 K

1477
00:24:55,875 --> 00:24:56,208
or Bitcoin

1478
00:24:56,208 --> 00:24:57,333
at 100 million

1479
00:24:57,333 --> 00:24:58,416
is completely

1480
00:24:58,416 --> 00:24:59,333
irrelevant

1481
00:24:59,333 --> 00:25:00,166
because you

1482
00:25:00,166 --> 00:25:00,958
want to provide

1483
00:25:00,958 --> 00:25:02,375
value in the future

1484
00:25:02,375 --> 00:25:03,916
and lock that value

1485
00:25:03,916 --> 00:25:04,541
for an even

1486
00:25:04,541 --> 00:25:05,791
further future.

1487
00:25:05,791 --> 00:25:06,708
And I think

1488
00:25:06,708 --> 00:25:08,041
that that's

1489
00:25:08,041 --> 00:25:09,125
that's the holy grail.

1490
00:25:09,125 --> 00:25:10,666
And so as humanity,

1491
00:25:10,666 --> 00:25:11,208
if we're just

1492
00:25:11,208 --> 00:25:11,916
focused on

1493
00:25:11,916 --> 00:25:12,791
how do we provide

1494
00:25:12,791 --> 00:25:14,458
the most value,

1495
00:25:14,458 --> 00:25:15,125
I think the world's

1496
00:25:15,125 --> 00:25:15,375
gonna look

1497
00:25:15,375 --> 00:25:15,916
pretty sweet.

1498
00:25:17,000 --> 00:25:17,250
Yeah.

1499
00:25:17,250 --> 00:25:17,916
And it's

1500
00:25:17,916 --> 00:25:18,416
there's a flip

1501
00:25:18,416 --> 00:25:18,958
side to that.

1502
00:25:18,958 --> 00:25:19,500
The only way

1503
00:25:19,500 --> 00:25:20,250
to get anything

1504
00:25:20,250 --> 00:25:21,000
out of value

1505
00:25:21,000 --> 00:25:22,333
back for your assets

1506
00:25:22,333 --> 00:25:22,916
is to actually

1507
00:25:22,916 --> 00:25:23,791
spend them.

1508
00:25:23,791 --> 00:25:24,708
Like, you can't

1509
00:25:24,708 --> 00:25:26,375
you can't

1510
00:25:26,375 --> 00:25:27,583
play the Fiat

1511
00:25:27,583 --> 00:25:28,833
Fiat games and

1512
00:25:28,833 --> 00:25:29,958
and leverage

1513
00:25:29,958 --> 00:25:31,000
the fact that you have

1514
00:25:31,000 --> 00:25:31,916
more than others

1515
00:25:31,916 --> 00:25:32,708
and get cheaper

1516
00:25:32,708 --> 00:25:33,708
loans and stuff.

1517
00:25:33,708 --> 00:25:34,416
That doesn't

1518
00:25:34,416 --> 00:25:35,166
work at all

1519
00:25:35,166 --> 00:25:36,208
as well on Bitcoin

1520
00:25:36,208 --> 00:25:37,541
as it does on fiat.

1521
00:25:37,541 --> 00:25:38,000
Totally.

1522
00:25:38,000 --> 00:25:39,000
I see

1523
00:25:39,000 --> 00:25:40,500
all these larps on

1524
00:25:40,500 --> 00:25:41,458
X talking

1525
00:25:41,458 --> 00:25:42,916
like I never sell

1526
00:25:42,916 --> 00:25:43,833
a bitcoin

1527
00:25:43,833 --> 00:25:44,375
and I always

1528
00:25:44,375 --> 00:25:45,375
respond, oh,

1529
00:25:45,375 --> 00:25:45,791
that's fine,

1530
00:25:45,791 --> 00:25:46,291
you just aren't

1531
00:25:46,291 --> 00:25:47,291
all in yet.

1532
00:25:47,291 --> 00:25:47,666
And they're like,

1533
00:25:47,666 --> 00:25:48,208
oh, I'm a bit,

1534
00:25:48,208 --> 00:25:48,875
I'm a maxi.

1535
00:25:48,875 --> 00:25:49,291
I'm all in.

1536
00:25:49,291 --> 00:25:49,500
What are you

1537
00:25:49,500 --> 00:25:49,833
talking about?

1538
00:25:49,833 --> 00:25:50,416
It's like, well,

1539
00:25:50,416 --> 00:25:50,750
if you don't

1540
00:25:50,750 --> 00:25:51,916
spend bitcoin,

1541
00:25:51,916 --> 00:25:52,708
I mean you're eating.

1542
00:25:52,708 --> 00:25:53,583
How do you survive?

1543
00:25:53,583 --> 00:25:54,125
Yeah, yeah.

1544
00:25:54,125 --> 00:25:54,958
You have a house

1545
00:25:54,958 --> 00:25:55,625
I assume.

1546
00:25:55,625 --> 00:25:57,125
Like you drive a car,

1547
00:25:57,125 --> 00:25:57,833
you go have

1548
00:25:57,833 --> 00:25:58,958
a coffee, use

1549
00:25:58,958 --> 00:25:59,541
you have shoes

1550
00:25:59,541 --> 00:26:00,458
on your feet.

1551
00:26:00,458 --> 00:26:01,000
How do you

1552
00:26:01,000 --> 00:26:01,708
how do you buy that.

1553
00:26:01,708 --> 00:26:02,833
Well I use my feet.

1554
00:26:02,833 --> 00:26:03,083
It's like,

1555
00:26:03,083 --> 00:26:03,666
oh yeah,

1556
00:26:03,666 --> 00:26:04,166
you have fiat.

1557
00:26:04,166 --> 00:26:04,791
So you're not all in.

1558
00:26:04,791 --> 00:26:05,250
That's fine.

1559
00:26:05,250 --> 00:26:05,666
You just aren't

1560
00:26:05,666 --> 00:26:06,750
all in, like,

1561
00:26:06,750 --> 00:26:08,083
cool it with this.

1562
00:26:08,083 --> 00:26:08,916
Like I. Am.

1563
00:26:08,916 --> 00:26:09,541
So good

1564
00:26:09,541 --> 00:26:10,583
because I am maxi.

1565
00:26:10,583 --> 00:26:11,375
I never sell

1566
00:26:11,375 --> 00:26:12,166
diamond hands.

1567
00:26:12,166 --> 00:26:12,666
It's like, no,

1568
00:26:12,666 --> 00:26:12,875
that's not

1569
00:26:12,875 --> 00:26:14,083
how money works.

1570
00:26:14,083 --> 00:26:14,666
Money works

1571
00:26:14,666 --> 00:26:15,125
in such a way

1572
00:26:15,125 --> 00:26:15,375
where you

1573
00:26:15,375 --> 00:26:16,625
provide value,

1574
00:26:16,625 --> 00:26:18,125
you receive money,

1575
00:26:18,125 --> 00:26:19,291
some unit of account,

1576
00:26:19,291 --> 00:26:20,041
and then you spend

1577
00:26:20,041 --> 00:26:21,208
less than that.

1578
00:26:21,208 --> 00:26:22,708
And the future of you

1579
00:26:22,708 --> 00:26:24,375
benefits for the

1580
00:26:24,375 --> 00:26:25,375
for the delta.

1581
00:26:25,375 --> 00:26:26,500
And it's like

1582
00:26:26,500 --> 00:26:27,958
be all in

1583
00:26:27,958 --> 00:26:30,416
and spend SATs.

1584
00:26:30,416 --> 00:26:30,666
That's why

1585
00:26:30,666 --> 00:26:32,000
you have to do.

1586
00:26:32,000 --> 00:26:33,000
Spend and replace

1587
00:26:33,000 --> 00:26:34,000
right?

1588
00:26:34,000 --> 00:26:34,291
Yeah.

1589
00:26:34,291 --> 00:26:34,833
Spend and

1590
00:26:34,833 --> 00:26:36,333
spend and replace

1591
00:26:36,333 --> 00:26:38,375
like or even just work

1592
00:26:38,375 --> 00:26:39,291
and then spend

1593
00:26:39,291 --> 00:26:40,250
like working

1594
00:26:40,250 --> 00:26:41,291
then spend with that.

1595
00:26:41,291 --> 00:26:41,875
That is

1596
00:26:41,875 --> 00:26:43,458
that is replacing

1597
00:26:43,458 --> 00:26:44,250
right. Yeah. Yeah.

1598
00:26:44,250 --> 00:26:45,166
Exactly. Exactly.

1599
00:26:45,166 --> 00:26:46,416
It's like it's it's

1600
00:26:46,416 --> 00:26:47,750
kind of like

1601
00:26:47,750 --> 00:26:48,791
what's, what's the

1602
00:26:48,791 --> 00:26:50,833
what's the replaces

1603
00:26:50,833 --> 00:26:51,458
is a is

1604
00:26:51,458 --> 00:26:52,958
a future tense.

1605
00:26:52,958 --> 00:26:53,833
What's the previous

1606
00:26:53,833 --> 00:26:54,458
tense is just

1607
00:26:54,458 --> 00:26:55,125
spending like,

1608
00:26:55,125 --> 00:26:56,000
it's like

1609
00:26:56,000 --> 00:26:56,958
if you work

1610
00:26:56,958 --> 00:26:58,333
and make one widget

1611
00:26:58,333 --> 00:26:59,666
and you can live on

1612
00:26:59,666 --> 00:27:00,875
point five,

1613
00:27:00,875 --> 00:27:02,041
then you do

1614
00:27:02,041 --> 00:27:02,625
a good thing,

1615
00:27:02,625 --> 00:27:03,208
that's great.

1616
00:27:03,208 --> 00:27:04,083
You get, you know,

1617
00:27:04,083 --> 00:27:05,041
you get to save point

1618
00:27:05,041 --> 00:27:06,541
five of your value.

1619
00:27:06,541 --> 00:27:07,416
And that's,

1620
00:27:07,416 --> 00:27:08,250
that's remarkable.

1621
00:27:08,250 --> 00:27:09,416
So I think it's like,

1622
00:27:09,416 --> 00:27:10,541
it's a consumption

1623
00:27:10,541 --> 00:27:11,666
versus production

1624
00:27:11,666 --> 00:27:12,958
kind of formula

1625
00:27:12,958 --> 00:27:14,166
that the world

1626
00:27:14,166 --> 00:27:14,750
just needs

1627
00:27:14,750 --> 00:27:16,625
to completely

1628
00:27:16,625 --> 00:27:17,166
unlearn

1629
00:27:17,166 --> 00:27:18,541
the old formula

1630
00:27:18,541 --> 00:27:19,708
and now relearn

1631
00:27:19,708 --> 00:27:20,666
the Bitcoin formula,

1632
00:27:20,666 --> 00:27:21,875
which is it's a

1633
00:27:21,875 --> 00:27:23,166
it's a culture shift

1634
00:27:23,166 --> 00:27:24,583
across the planet

1635
00:27:24,583 --> 00:27:25,833
like it is.

1636
00:27:25,833 --> 00:27:26,583
It is insane.

1637
00:27:26,583 --> 00:27:27,125
Going from a

1638
00:27:27,125 --> 00:27:28,458
credit system

1639
00:27:28,458 --> 00:27:29,041
to a money

1640
00:27:29,041 --> 00:27:29,666
system

1641
00:27:29,666 --> 00:27:31,916
is astronomical.

1642
00:27:31,916 --> 00:27:32,708
No, it's it's

1643
00:27:32,708 --> 00:27:33,666
absolutely insane

1644
00:27:33,666 --> 00:27:34,583
because you

1645
00:27:34,583 --> 00:27:35,125
literally have

1646
00:27:35,125 --> 00:27:36,416
to unlearn everything

1647
00:27:36,416 --> 00:27:36,958
you've learned

1648
00:27:36,958 --> 00:27:37,541
about

1649
00:27:37,541 --> 00:27:38,833
commerce and money

1650
00:27:38,833 --> 00:27:39,666
and finance

1651
00:27:39,666 --> 00:27:40,708
and all of it.

1652
00:27:40,708 --> 00:27:41,083
Totally.

1653
00:27:41,083 --> 00:27:42,125
Because like on, on a

1654
00:27:42,125 --> 00:27:42,666
in a hyper

1655
00:27:42,666 --> 00:27:43,166
bitcoin eyes

1656
00:27:43,166 --> 00:27:44,791
where it's not gold,

1657
00:27:44,791 --> 00:27:45,500
it's, it's

1658
00:27:45,500 --> 00:27:46,500
way, way, way

1659
00:27:48,041 --> 00:27:50,166
more resistant

1660
00:27:50,166 --> 00:27:50,916
to inflation

1661
00:27:50,916 --> 00:27:52,125
than gold.

1662
00:27:52,125 --> 00:27:53,791
Because but

1663
00:27:53,791 --> 00:27:54,708
the more miners

1664
00:27:54,708 --> 00:27:56,791
that come online, the,

1665
00:27:56,791 --> 00:27:57,666
the more gold

1666
00:27:57,666 --> 00:27:58,291
is produced

1667
00:27:58,291 --> 00:28:00,250
per time unit.

1668
00:28:00,250 --> 00:28:01,416
Not true for Bitcoin.

1669
00:28:01,416 --> 00:28:02,458
It stays the same.

1670
00:28:02,458 --> 00:28:03,208
The issuance rate

1671
00:28:03,208 --> 00:28:04,333
stays the same.

1672
00:28:04,333 --> 00:28:04,750
And we're

1673
00:28:04,750 --> 00:28:05,375
almost there.

1674
00:28:05,375 --> 00:28:05,791
We're

1675
00:28:05,791 --> 00:28:07,125
almost mined all the

1676
00:28:07,125 --> 00:28:08,625
all the bitcoins

1677
00:28:08,625 --> 00:28:09,875
like the last coin

1678
00:28:09,875 --> 00:28:10,416
will take like

1679
00:28:10,416 --> 00:28:12,291
40 years to find.

1680
00:28:12,291 --> 00:28:13,750
I know that

1681
00:28:13,750 --> 00:28:14,708
blew my mind

1682
00:28:14,708 --> 00:28:15,541
when I heard that

1683
00:28:15,541 --> 00:28:16,125
that something

1684
00:28:16,125 --> 00:28:17,625
like in 20 years,

1685
00:28:17,625 --> 00:28:18,083
the block

1686
00:28:18,083 --> 00:28:19,541
reward will be like,

1687
00:28:19,541 --> 00:28:20,041
what is it,

1688
00:28:20,041 --> 00:28:21,375
30,000 sats

1689
00:28:21,375 --> 00:28:22,125
or something?

1690
00:28:22,125 --> 00:28:23,583
Yeah, yeah.

1691
00:28:23,583 --> 00:28:24,833
It's like,

1692
00:28:24,833 --> 00:28:26,541
it's like 92%

1693
00:28:26,541 --> 00:28:27,958
the first 12 years

1694
00:28:27,958 --> 00:28:28,500
and then

1695
00:28:28,500 --> 00:28:31,083
5% the next 12 years,

1696
00:28:31,083 --> 00:28:32,166
and then,

1697
00:28:32,166 --> 00:28:33,000
yeah, that's it.

1698
00:28:33,000 --> 00:28:34,291
The last 3%.

1699
00:28:34,291 --> 00:28:34,916
That's the other

1700
00:28:34,916 --> 00:28:35,958
hundred years.

1701
00:28:35,958 --> 00:28:37,458
And most people.

1702
00:28:37,458 --> 00:28:39,083
Like I struggle.

1703
00:28:39,083 --> 00:28:39,375
Look,

1704
00:28:39,375 --> 00:28:39,958
I guess

1705
00:28:39,958 --> 00:28:40,375
I can kind of see

1706
00:28:40,375 --> 00:28:41,583
their point around

1707
00:28:41,583 --> 00:28:42,083
like gold

1708
00:28:42,083 --> 00:28:42,750
but struggling

1709
00:28:42,750 --> 00:28:43,708
to get in here.

1710
00:28:43,708 --> 00:28:44,541
They have a hard time

1711
00:28:44,541 --> 00:28:45,416
detaching

1712
00:28:45,416 --> 00:28:46,625
the physicality from

1713
00:28:46,625 --> 00:28:48,000
the digital realm.

1714
00:28:49,291 --> 00:28:50,583
But the digital

1715
00:28:50,583 --> 00:28:51,541
nature is actually

1716
00:28:51,541 --> 00:28:52,791
the only reason

1717
00:28:52,791 --> 00:28:54,666
Bitcoin can work,

1718
00:28:54,666 --> 00:28:55,458
because you're able

1719
00:28:55,458 --> 00:28:56,166
to actually

1720
00:28:56,166 --> 00:28:57,125
amass value

1721
00:28:57,125 --> 00:28:58,208
without your costs

1722
00:28:58,208 --> 00:28:58,708
rising.

1723
00:28:58,708 --> 00:28:59,333
Holt storing

1724
00:28:59,333 --> 00:29:00,416
$100 million of gold

1725
00:29:00,416 --> 00:29:00,833
is very

1726
00:29:00,833 --> 00:29:02,000
very difficult.

1727
00:29:02,000 --> 00:29:02,458
Difficult

1728
00:29:02,458 --> 00:29:03,333
to spend, difficult

1729
00:29:03,333 --> 00:29:03,666
to move.

1730
00:29:03,666 --> 00:29:04,291
The physical

1731
00:29:04,291 --> 00:29:05,666
restraints

1732
00:29:05,666 --> 00:29:06,666
of previous

1733
00:29:06,666 --> 00:29:08,208
versions of money

1734
00:29:08,208 --> 00:29:09,000
have have been

1735
00:29:09,000 --> 00:29:11,875
impossible to,

1736
00:29:11,875 --> 00:29:13,125
to overcome.

1737
00:29:13,125 --> 00:29:14,250
And now,

1738
00:29:14,250 --> 00:29:15,208
I mean, the fact

1739
00:29:15,208 --> 00:29:15,750
that you can carry

1740
00:29:15,750 --> 00:29:16,166
around

1741
00:29:16,166 --> 00:29:17,125
generational wealth

1742
00:29:17,125 --> 00:29:18,000
on an SD card

1743
00:29:18,000 --> 00:29:19,583
is pretty insane.

1744
00:29:19,583 --> 00:29:19,833
Yeah.

1745
00:29:19,833 --> 00:29:20,208
Are you

1746
00:29:20,208 --> 00:29:21,125
aware of the

1747
00:29:21,125 --> 00:29:24,125
idea of element zero?

1748
00:29:24,166 --> 00:29:24,791
No, I don't think so.

1749
00:29:24,791 --> 00:29:25,250
This is

1750
00:29:25,250 --> 00:29:26,333
this is an idea

1751
00:29:26,333 --> 00:29:28,083
I heard from,

1752
00:29:28,083 --> 00:29:28,541
a grape

1753
00:29:28,541 --> 00:29:29,000
by Corona

1754
00:29:29,000 --> 00:29:30,458
called your hamster.

1755
00:29:30,458 --> 00:29:33,083
So I had to, like,

1756
00:29:33,083 --> 00:29:33,875
when I saw it,

1757
00:29:33,875 --> 00:29:34,750
like you gave

1758
00:29:34,750 --> 00:29:36,958
a presentation,

1759
00:29:36,958 --> 00:29:37,500
about it.

1760
00:29:37,500 --> 00:29:38,583
But his kind of nerdy

1761
00:29:38,583 --> 00:29:39,875
presentation,

1762
00:29:39,875 --> 00:29:41,458
it's a German guy,

1763
00:29:41,458 --> 00:29:42,458
so he's got this

1764
00:29:42,458 --> 00:29:43,291
German accent

1765
00:29:43,291 --> 00:29:44,000
and speaks

1766
00:29:44,000 --> 00:29:44,375
in a very

1767
00:29:44,375 --> 00:29:45,583
engineering way.

1768
00:29:45,583 --> 00:29:46,291
So I thought

1769
00:29:46,291 --> 00:29:47,000
this has to go

1770
00:29:47,000 --> 00:29:47,666
into my book.

1771
00:29:47,666 --> 00:29:48,916
So he went into the

1772
00:29:48,916 --> 00:29:49,791
everything divided

1773
00:29:49,791 --> 00:29:50,791
book, and I

1774
00:29:50,791 --> 00:29:51,958
rewrote it and,

1775
00:29:53,041 --> 00:29:53,708
tried to make

1776
00:29:53,708 --> 00:29:55,375
it more like,

1777
00:29:55,375 --> 00:29:56,083
entertaining.

1778
00:29:56,083 --> 00:29:56,666
I don't know if I

1779
00:29:56,666 --> 00:29:57,416
succeeded or not,

1780
00:29:57,416 --> 00:29:58,708
but we made a,

1781
00:29:58,708 --> 00:29:59,666
a little video

1782
00:29:59,666 --> 00:30:00,583
out of it,

1783
00:30:00,583 --> 00:30:01,666
called Element Zeros.

1784
00:30:01,666 --> 00:30:02,875
If you Google

1785
00:30:02,875 --> 00:30:03,666
Bitcoin element

1786
00:30:03,666 --> 00:30:04,500
zero, there's

1787
00:30:04,500 --> 00:30:06,250
an animation by a guy

1788
00:30:06,250 --> 00:30:07,291
called the Yoni

1789
00:30:07,291 --> 00:30:10,166
Apple berg. And,

1790
00:30:10,166 --> 00:30:10,750
yeah, it's

1791
00:30:10,750 --> 00:30:12,875
about how the,

1792
00:30:12,875 --> 00:30:14,666
you can, you can,

1793
00:30:14,666 --> 00:30:16,041
view Bitcoin as a,

1794
00:30:16,041 --> 00:30:17,291
as a new element

1795
00:30:17,291 --> 00:30:19,166
on the periodic table,

1796
00:30:19,166 --> 00:30:20,375
but it differs

1797
00:30:20,375 --> 00:30:21,000
from all other

1798
00:30:21,000 --> 00:30:21,541
elements

1799
00:30:21,541 --> 00:30:22,208
because it doesn't

1800
00:30:22,208 --> 00:30:23,041
have protons

1801
00:30:23,041 --> 00:30:24,333
or neutrons,

1802
00:30:24,333 --> 00:30:25,333
only electrons.

1803
00:30:25,333 --> 00:30:26,250
So it's an it's

1804
00:30:26,250 --> 00:30:26,750
an element

1805
00:30:26,750 --> 00:30:27,666
without completely

1806
00:30:27,666 --> 00:30:29,375
without mass,

1807
00:30:29,375 --> 00:30:30,416
which means that

1808
00:30:30,416 --> 00:30:31,375
it's made up

1809
00:30:31,375 --> 00:30:31,958
entirely out

1810
00:30:31,958 --> 00:30:32,791
of information.

1811
00:30:32,791 --> 00:30:33,958
But it behaves

1812
00:30:33,958 --> 00:30:34,833
like an element

1813
00:30:34,833 --> 00:30:35,583
in the sense

1814
00:30:35,583 --> 00:30:36,250
that you can't

1815
00:30:36,250 --> 00:30:36,958
destroy it

1816
00:30:36,958 --> 00:30:37,625
very easily

1817
00:30:37,625 --> 00:30:38,916
without without

1818
00:30:38,916 --> 00:30:39,750
massive amounts

1819
00:30:39,750 --> 00:30:40,666
of energy,

1820
00:30:40,666 --> 00:30:41,541
and you can't

1821
00:30:41,541 --> 00:30:42,791
create more of it

1822
00:30:42,791 --> 00:30:43,625
without massive

1823
00:30:43,625 --> 00:30:44,500
amounts of energy.

1824
00:30:45,708 --> 00:30:46,500
Or you can

1825
00:30:46,500 --> 00:30:47,125
create that other

1826
00:30:47,125 --> 00:30:49,708
thing there.

1827
00:30:49,708 --> 00:30:50,750
But

1828
00:30:50,750 --> 00:30:51,916
in all other senses

1829
00:30:51,916 --> 00:30:52,500
it sort of

1830
00:30:52,500 --> 00:30:53,750
behaves like,

1831
00:30:53,750 --> 00:30:54,875
an element.

1832
00:30:54,875 --> 00:30:55,750
But since it's made

1833
00:30:55,750 --> 00:30:56,583
up of information,

1834
00:30:56,583 --> 00:30:58,250
only the information

1835
00:30:58,250 --> 00:30:59,375
about the element

1836
00:30:59,375 --> 00:31:00,333
is the element.

1837
00:31:00,333 --> 00:31:00,583
There is

1838
00:31:00,583 --> 00:31:01,500
no distinction

1839
00:31:01,500 --> 00:31:01,875
between

1840
00:31:01,875 --> 00:31:02,500
the information

1841
00:31:02,500 --> 00:31:03,000
about it.

1842
00:31:03,000 --> 00:31:04,541
And it's. All.

1843
00:31:04,541 --> 00:31:06,833
So a which is,

1844
00:31:06,833 --> 00:31:07,833
and, you know,

1845
00:31:07,833 --> 00:31:08,500
as you know,

1846
00:31:08,500 --> 00:31:09,958
like knowing

1847
00:31:09,958 --> 00:31:11,250
the secret,

1848
00:31:11,250 --> 00:31:12,458
knowing a private key

1849
00:31:12,458 --> 00:31:13,416
to a,

1850
00:31:13,416 --> 00:31:14,291
that unlocks

1851
00:31:14,291 --> 00:31:15,041
a certain amount

1852
00:31:15,041 --> 00:31:16,375
of satoshis

1853
00:31:16,375 --> 00:31:17,458
is those satoshis

1854
00:31:17,458 --> 00:31:18,291
that they're the one

1855
00:31:18,291 --> 00:31:18,833
and the same.

1856
00:31:18,833 --> 00:31:19,416
The satoshis

1857
00:31:19,416 --> 00:31:20,250
don't really exist.

1858
00:31:20,250 --> 00:31:20,791
They don't know

1859
00:31:20,791 --> 00:31:22,166
the Satoshi's.

1860
00:31:22,166 --> 00:31:23,166
The ability to move.

1861
00:31:23,166 --> 00:31:23,791
The satoshis

1862
00:31:23,791 --> 00:31:24,916
is never online.

1863
00:31:24,916 --> 00:31:26,791
It's only a is.

1864
00:31:26,791 --> 00:31:27,500
It's only

1865
00:31:27,500 --> 00:31:29,166
and can only be

1866
00:31:29,166 --> 00:31:30,541
within a human mind

1867
00:31:30,541 --> 00:31:31,083
somewhere.

1868
00:31:31,083 --> 00:31:32,208
It's always someone

1869
00:31:32,208 --> 00:31:33,166
keeping a secret

1870
00:31:33,166 --> 00:31:34,541
from someone else.

1871
00:31:34,541 --> 00:31:36,041
And the only reason

1872
00:31:36,041 --> 00:31:36,791
that we think

1873
00:31:36,791 --> 00:31:37,250
that this

1874
00:31:37,250 --> 00:31:38,333
secret is worth

1875
00:31:38,333 --> 00:31:39,541
something is

1876
00:31:39,541 --> 00:31:40,500
because we know

1877
00:31:40,500 --> 00:31:41,833
the improbability

1878
00:31:41,833 --> 00:31:42,958
of someone else

1879
00:31:42,958 --> 00:31:43,791
guessing the

1880
00:31:43,791 --> 00:31:45,416
secret correctly.

1881
00:31:45,416 --> 00:31:45,708
So?

1882
00:31:45,708 --> 00:31:47,958
So yeah, I like that.

1883
00:31:47,958 --> 00:31:48,958
Yes, but

1884
00:31:48,958 --> 00:31:49,625
but at the end

1885
00:31:49,625 --> 00:31:50,250
of the day, it's

1886
00:31:50,250 --> 00:31:51,291
just information

1887
00:31:51,291 --> 00:31:51,958
just isn't.

1888
00:31:51,958 --> 00:31:52,458
It's just a

1889
00:31:52,458 --> 00:31:54,416
goddamn number

1890
00:31:54,416 --> 00:31:55,291
or it's just 12.

1891
00:31:55,291 --> 00:31:56,625
God. Binary truth.

1892
00:31:56,625 --> 00:31:57,666
Yeah, it's binary too.

1893
00:31:57,666 --> 00:31:58,833
It's just just

1894
00:31:58,833 --> 00:31:59,541
flip flop, flip

1895
00:31:59,541 --> 00:32:00,125
flop flip flip

1896
00:32:00,125 --> 00:32:00,833
flip flip flop,

1897
00:32:00,833 --> 00:32:01,500
flip of a flip,

1898
00:32:01,500 --> 00:32:02,791
flip flop flop, flip

1899
00:32:02,791 --> 00:32:04,000
flip flop, flip flop.

1900
00:32:04,000 --> 00:32:04,625
That's a

1901
00:32:04,625 --> 00:32:05,583
Bitcoin private key.

1902
00:32:06,750 --> 00:32:07,541
And you can, you

1903
00:32:07,541 --> 00:32:09,625
can throw a dice,

1904
00:32:09,625 --> 00:32:11,041
99 times

1905
00:32:11,041 --> 00:32:11,500
or flip

1906
00:32:11,500 --> 00:32:13,250
a coin 256 times

1907
00:32:13,250 --> 00:32:13,875
and you have a

1908
00:32:13,875 --> 00:32:14,583
Bitcoin address

1909
00:32:14,583 --> 00:32:15,541
that you can send

1910
00:32:15,541 --> 00:32:17,166
Bitcoin to. Right.

1911
00:32:17,166 --> 00:32:18,541
Or you give. Me

1912
00:32:18,541 --> 00:32:19,666
on my test.

1913
00:32:19,666 --> 00:32:20,666
But we just made

1914
00:32:20,666 --> 00:32:22,083
these little.

1915
00:32:22,083 --> 00:32:22,583
Oh you.

1916
00:32:22,583 --> 00:32:23,000
Call him

1917
00:32:23,000 --> 00:32:23,541
we call them

1918
00:32:23,541 --> 00:32:24,750
entropy pouches.

1919
00:32:24,750 --> 00:32:25,166
Yeah. Yeah.

1920
00:32:25,166 --> 00:32:26,333
And it's a little tiny

1921
00:32:26,333 --> 00:32:27,416
pouch which has

1922
00:32:27,416 --> 00:32:30,000
and it comes with 50

1923
00:32:30,000 --> 00:32:31,500
50 tiny tiny dice.

1924
00:32:31,500 --> 00:32:31,916
We actually

1925
00:32:31,916 --> 00:32:32,916
I didn't think 100

1926
00:32:32,916 --> 00:32:33,583
would fit, but it.

1927
00:32:33,583 --> 00:32:34,375
Well, I was just.

1928
00:32:34,375 --> 00:32:35,833
I'm like, hey,

1929
00:32:35,833 --> 00:32:36,416
we say roll it

1930
00:32:36,416 --> 00:32:36,958
three times,

1931
00:32:36,958 --> 00:32:37,500
I roll the dice

1932
00:32:37,500 --> 00:32:38,291
three times,

1933
00:32:38,291 --> 00:32:39,000
but we're

1934
00:32:39,000 --> 00:32:39,416
going to just

1935
00:32:39,416 --> 00:32:40,083
add 100 in,

1936
00:32:40,083 --> 00:32:40,625
and then you just get

1937
00:32:40,625 --> 00:32:41,250
all your entropy

1938
00:32:41,250 --> 00:32:42,458
in one. Yeah.

1939
00:32:42,458 --> 00:32:45,458
And it is, it is,

1940
00:32:45,583 --> 00:32:47,458
it is so empowering

1941
00:32:47,458 --> 00:32:48,166
to think

1942
00:32:48,166 --> 00:32:49,708
that you can

1943
00:32:49,708 --> 00:32:50,458
literally do

1944
00:32:50,458 --> 00:32:51,000
as you say,

1945
00:32:51,000 --> 00:32:52,000
roll a dice

1946
00:32:52,000 --> 00:32:53,208
100 times

1947
00:32:53,208 --> 00:32:54,958
and have entropy

1948
00:32:54,958 --> 00:32:56,041
for generations.

1949
00:32:56,041 --> 00:32:56,791
Hang on a minute.

1950
00:32:56,791 --> 00:32:58,416
Other 16 sided die.

1951
00:33:00,125 --> 00:33:00,541
Yeah.

1952
00:33:00,541 --> 00:33:02,666
So there there are.

1953
00:33:02,666 --> 00:33:03,958
There's a 20

1954
00:33:03,958 --> 00:33:04,916
and the 12

1955
00:33:04,916 --> 00:33:05,583
I know those

1956
00:33:05,583 --> 00:33:06,541
and the T ten

1957
00:33:06,541 --> 00:33:07,500
and the T four

1958
00:33:07,500 --> 00:33:08,333
and the T six

1959
00:33:08,333 --> 00:33:09,750
and the T eight.

1960
00:33:09,750 --> 00:33:12,750
But is there a T 16 I.

1961
00:33:12,750 --> 00:33:14,541
I'm pretty sure there,

1962
00:33:14,541 --> 00:33:15,125
there is.

1963
00:33:15,125 --> 00:33:16,791
I saw one at in

1964
00:33:16,791 --> 00:33:17,583
El Salvador

1965
00:33:17,583 --> 00:33:18,208
at the Bitcoin

1966
00:33:18,208 --> 00:33:21,166
hardware store.

1967
00:33:21,166 --> 00:33:22,416
There's

1968
00:33:22,416 --> 00:33:25,250
there's a die and it's

1969
00:33:25,250 --> 00:33:25,958
I'm trying to think

1970
00:33:25,958 --> 00:33:28,416
I'm pretty sure it is,

1971
00:33:28,416 --> 00:33:30,041
16 sided and,

1972
00:33:30,041 --> 00:33:30,875
but it's all zeros

1973
00:33:30,875 --> 00:33:31,416
and ones.

1974
00:33:31,416 --> 00:33:34,416
Have you seen that?

1975
00:33:34,916 --> 00:33:36,291
The I've seen

1976
00:33:36,291 --> 00:33:37,833
all zeros and ones.

1977
00:33:37,833 --> 00:33:39,375
But like that, the,

1978
00:33:39,375 --> 00:33:40,000
the reason

1979
00:33:40,000 --> 00:33:41,375
I'm saying 16

1980
00:33:41,375 --> 00:33:42,000
sided is

1981
00:33:42,000 --> 00:33:43,458
of course hexadecimal.

1982
00:33:43,458 --> 00:33:45,416
So it would be like so

1983
00:33:45,416 --> 00:33:48,208
123456789 abs

1984
00:33:48,208 --> 00:33:49,833
to up to f.

1985
00:33:49,833 --> 00:33:50,250
Okay.

1986
00:33:50,250 --> 00:33:50,916
And know

1987
00:33:50,916 --> 00:33:51,708
I don't either.

1988
00:33:51,708 --> 00:33:52,000
So you know

1989
00:33:52,000 --> 00:33:52,833
that actually

1990
00:33:52,833 --> 00:33:53,916
actually a roll it.

1991
00:33:53,916 --> 00:33:55,291
Like how many

1992
00:33:55,291 --> 00:33:56,250
how many letters

1993
00:33:56,250 --> 00:33:56,625
are there.

1994
00:33:56,625 --> 00:33:58,000
Like how many digits.

1995
00:33:58,000 --> 00:33:58,458
That's like

1996
00:33:58,458 --> 00:34:00,166
30 or something.

1997
00:34:00,166 --> 00:34:01,125
So you could actually,

1998
00:34:02,125 --> 00:34:04,500
roll a 16 sided die

1999
00:34:04,500 --> 00:34:05,208
30 times.

2000
00:34:05,208 --> 00:34:06,041
Am I doing the math

2001
00:34:06,041 --> 00:34:06,666
right here?

2002
00:34:06,666 --> 00:34:08,000
Who's good with maths?

2003
00:34:08,000 --> 00:34:09,000
No. Okay.

2004
00:34:09,000 --> 00:34:09,875
I don't know.

2005
00:34:09,875 --> 00:34:10,708
You're you've

2006
00:34:10,708 --> 00:34:11,708
definitely lost me.

2007
00:34:11,708 --> 00:34:12,875
I, I just like

2008
00:34:12,875 --> 00:34:13,500
the little six

2009
00:34:13,500 --> 00:34:14,166
sided die

2010
00:34:14,166 --> 00:34:14,583
that you roll

2011
00:34:14,583 --> 00:34:15,875
100 times. That seems.

2012
00:34:15,875 --> 00:34:16,291
Yeah, yeah,

2013
00:34:16,291 --> 00:34:16,958
I just,

2014
00:34:16,958 --> 00:34:17,791
the most obvious

2015
00:34:17,791 --> 00:34:20,291
one to do, but

2016
00:34:20,291 --> 00:34:21,666
it is cool for.

2017
00:34:21,666 --> 00:34:22,333
Well, two things

2018
00:34:22,333 --> 00:34:23,125
coming to mind there.

2019
00:34:23,125 --> 00:34:23,916
One, the fact

2020
00:34:23,916 --> 00:34:24,208
that we can

2021
00:34:24,208 --> 00:34:24,541
just do

2022
00:34:24,541 --> 00:34:25,625
that offline

2023
00:34:25,625 --> 00:34:26,625
with something

2024
00:34:26,625 --> 00:34:27,541
that my four year

2025
00:34:27,541 --> 00:34:28,333
old plays with

2026
00:34:28,333 --> 00:34:29,583
is pretty sick.

2027
00:34:29,583 --> 00:34:29,875
But then

2028
00:34:29,875 --> 00:34:30,875
the other one

2029
00:34:30,875 --> 00:34:32,458
is, the fact

2030
00:34:32,458 --> 00:34:33,250
that you can do it

2031
00:34:33,250 --> 00:34:34,041
multiple

2032
00:34:34,041 --> 00:34:35,083
different ways

2033
00:34:35,083 --> 00:34:36,541
to achieve,

2034
00:34:36,541 --> 00:34:36,916
you know,

2035
00:34:36,916 --> 00:34:37,916
a different result

2036
00:34:37,916 --> 00:34:38,916
in the same way.

2037
00:34:38,916 --> 00:34:40,625
It's like, yeah,

2038
00:34:40,625 --> 00:34:41,250
you know, it's

2039
00:34:41,250 --> 00:34:43,375
not just dice it

2040
00:34:43,375 --> 00:34:43,625
or it's

2041
00:34:43,625 --> 00:34:44,291
not just numbers.

2042
00:34:44,291 --> 00:34:44,916
They can be numbers

2043
00:34:44,916 --> 00:34:45,375
and letters

2044
00:34:45,375 --> 00:34:46,750
and it just all

2045
00:34:46,750 --> 00:34:48,000
word randomness.

2046
00:34:48,000 --> 00:34:49,458
All we need is entropy

2047
00:34:49,458 --> 00:34:50,791
and randomness

2048
00:34:50,791 --> 00:34:52,125
in order to

2049
00:34:52,125 --> 00:34:53,375
preserve our value.

2050
00:34:53,375 --> 00:34:53,791
And that's

2051
00:34:53,791 --> 00:34:55,833
such an empowering

2052
00:34:55,833 --> 00:34:57,083
I, I know that's more

2053
00:34:57,083 --> 00:34:57,958
of a cryptography

2054
00:34:57,958 --> 00:34:58,458
thing than a

2055
00:34:58,458 --> 00:34:59,041
money thing.

2056
00:34:59,041 --> 00:34:59,375
And that's

2057
00:34:59,375 --> 00:35:00,208
and that's the basis

2058
00:35:00,208 --> 00:35:01,083
of, of

2059
00:35:01,083 --> 00:35:02,166
of cryptography,

2060
00:35:03,416 --> 00:35:04,125
primarily for

2061
00:35:04,125 --> 00:35:05,083
information.

2062
00:35:05,083 --> 00:35:06,583
But Satoshi's genius

2063
00:35:06,583 --> 00:35:08,041
to look at money

2064
00:35:08,041 --> 00:35:09,750
as information.

2065
00:35:09,750 --> 00:35:11,750
It is truly something

2066
00:35:11,750 --> 00:35:12,166
that we don't

2067
00:35:12,166 --> 00:35:12,958
talk about enough.

2068
00:35:12,958 --> 00:35:13,541
We don't marvel

2069
00:35:13,541 --> 00:35:15,208
in the fact that

2070
00:35:15,208 --> 00:35:17,750
that perspective shift

2071
00:35:17,750 --> 00:35:18,750
changed the course

2072
00:35:18,750 --> 00:35:19,833
of history.

2073
00:35:19,833 --> 00:35:21,458
No, I talk about this

2074
00:35:21,458 --> 00:35:21,916
all the time

2075
00:35:21,916 --> 00:35:22,416
because, like,

2076
00:35:22,416 --> 00:35:23,291
I think it's such

2077
00:35:23,291 --> 00:35:24,416
an underrated

2078
00:35:24,416 --> 00:35:25,166
aspect of

2079
00:35:25,166 --> 00:35:26,875
it is the aspect

2080
00:35:26,875 --> 00:35:28,083
that is like

2081
00:35:28,083 --> 00:35:28,791
that changes

2082
00:35:28,791 --> 00:35:29,250
everything.

2083
00:35:29,250 --> 00:35:30,333
Because what

2084
00:35:30,333 --> 00:35:30,875
it means

2085
00:35:30,875 --> 00:35:31,833
that these things

2086
00:35:31,833 --> 00:35:32,666
are only stored

2087
00:35:32,666 --> 00:35:33,750
in people's heads

2088
00:35:33,750 --> 00:35:34,250
is that we

2089
00:35:34,250 --> 00:35:35,416
are our bitcoins,

2090
00:35:35,416 --> 00:35:36,166
and I can't

2091
00:35:36,166 --> 00:35:37,250
get that thought

2092
00:35:37,250 --> 00:35:38,250
out of my head.

2093
00:35:38,250 --> 00:35:39,125
I can't like

2094
00:35:39,125 --> 00:35:40,250
this thing lives

2095
00:35:40,250 --> 00:35:40,875
within us.

2096
00:35:40,875 --> 00:35:41,791
We are it

2097
00:35:41,791 --> 00:35:43,750
and it is us.

2098
00:35:43,750 --> 00:35:44,375
And whoever

2099
00:35:44,375 --> 00:35:45,750
is connected to it,

2100
00:35:45,750 --> 00:35:47,916
whoever on some is.

2101
00:35:47,916 --> 00:35:49,500
And it's

2102
00:35:49,500 --> 00:35:50,666
the other bitcoiners,

2103
00:35:50,666 --> 00:35:52,291
brother or sister,

2104
00:35:52,291 --> 00:35:53,041
whether you want

2105
00:35:53,041 --> 00:35:53,666
to be or not.

2106
00:35:53,666 --> 00:35:54,250
Because you're

2107
00:35:54,250 --> 00:35:56,250
part of the same body

2108
00:35:56,250 --> 00:35:56,791
now, you're

2109
00:35:56,791 --> 00:35:57,208
part of the

2110
00:35:57,208 --> 00:35:58,500
same organism.

2111
00:35:58,500 --> 00:35:59,791
You're incentivized

2112
00:35:59,791 --> 00:36:00,208
to help

2113
00:36:00,208 --> 00:36:01,458
the other Bitcoiners.

2114
00:36:01,458 --> 00:36:01,875
You can't

2115
00:36:01,875 --> 00:36:02,666
get away from that.

2116
00:36:02,666 --> 00:36:04,125
Like if you don't,

2117
00:36:04,125 --> 00:36:05,083
you lose like.

2118
00:36:05,083 --> 00:36:07,041
And if you do, you you

2119
00:36:07,041 --> 00:36:09,000
if if I help you, Adam

2120
00:36:09,000 --> 00:36:10,458
with anything,

2121
00:36:10,458 --> 00:36:11,666
I benefits.

2122
00:36:11,666 --> 00:36:12,125
Yes.

2123
00:36:12,125 --> 00:36:13,291
And and

2124
00:36:13,291 --> 00:36:14,125
it will be like

2125
00:36:14,125 --> 00:36:15,250
this forever.

2126
00:36:15,250 --> 00:36:15,750
But only

2127
00:36:15,750 --> 00:36:17,375
those who are,

2128
00:36:17,375 --> 00:36:17,791
who are

2129
00:36:17,791 --> 00:36:18,333
who are,

2130
00:36:18,333 --> 00:36:18,750
who have

2131
00:36:18,750 --> 00:36:20,458
realized that. See it.

2132
00:36:20,458 --> 00:36:21,125
And when once

2133
00:36:21,125 --> 00:36:22,250
you see that

2134
00:36:22,250 --> 00:36:23,125
like Bitcoin is,

2135
00:36:25,125 --> 00:36:25,750
what do we call it?

2136
00:36:25,750 --> 00:36:26,291
This like

2137
00:36:26,291 --> 00:36:27,250
truth goggles

2138
00:36:27,250 --> 00:36:27,916
and a mirror

2139
00:36:27,916 --> 00:36:28,708
at the same time.

2140
00:36:28,708 --> 00:36:29,250
So it's a way

2141
00:36:29,250 --> 00:36:30,625
to view the world

2142
00:36:30,625 --> 00:36:32,125
through a lens,

2143
00:36:32,125 --> 00:36:32,666
a lens

2144
00:36:32,666 --> 00:36:33,208
and a mirror

2145
00:36:33,208 --> 00:36:33,875
at the same time.

2146
00:36:33,875 --> 00:36:35,000
So it's like a mirror

2147
00:36:35,000 --> 00:36:35,541
is a lens.

2148
00:36:35,541 --> 00:36:37,583
But anyway,

2149
00:36:37,583 --> 00:36:38,083
you can

2150
00:36:38,083 --> 00:36:38,500
you can

2151
00:36:38,500 --> 00:36:39,333
view yourself

2152
00:36:39,333 --> 00:36:39,666
through it,

2153
00:36:39,666 --> 00:36:40,291
and you can view

2154
00:36:40,291 --> 00:36:41,041
the rest of the world

2155
00:36:41,041 --> 00:36:41,458
through it.

2156
00:36:41,458 --> 00:36:42,125
And you can see

2157
00:36:42,125 --> 00:36:42,875
that, like,

2158
00:36:42,875 --> 00:36:43,541
you are

2159
00:36:43,541 --> 00:36:44,625
truly connected

2160
00:36:44,625 --> 00:36:45,041
to every

2161
00:36:45,041 --> 00:36:45,708
other Bitcoin,

2162
00:36:45,708 --> 00:36:46,083
like in

2163
00:36:46,083 --> 00:36:47,583
a, in a flesh

2164
00:36:47,583 --> 00:36:49,291
and blood sense,

2165
00:36:49,291 --> 00:36:50,125
forever.

2166
00:36:50,125 --> 00:36:51,208
And it

2167
00:36:51,208 --> 00:36:52,833
changes everything.

2168
00:36:52,833 --> 00:36:55,833
That this concept is

2169
00:36:56,250 --> 00:36:56,791
the fact

2170
00:36:56,791 --> 00:36:57,791
that money has ever

2171
00:36:57,791 --> 00:36:59,333
not been that way,

2172
00:36:59,333 --> 00:37:00,041
frankly, is a

2173
00:37:00,041 --> 00:37:00,791
bit offensive

2174
00:37:00,791 --> 00:37:02,250
because money

2175
00:37:02,250 --> 00:37:03,708
is but a tool.

2176
00:37:03,708 --> 00:37:04,208
You know,

2177
00:37:04,208 --> 00:37:04,833
people are

2178
00:37:04,833 --> 00:37:05,250
probably going

2179
00:37:05,250 --> 00:37:06,166
to listen to you

2180
00:37:06,166 --> 00:37:06,916
and, and

2181
00:37:06,916 --> 00:37:08,666
an army would say, oh,

2182
00:37:08,666 --> 00:37:09,333
you know, this is

2183
00:37:09,333 --> 00:37:10,541
this is blasphemous.

2184
00:37:10,541 --> 00:37:11,625
This this is not it.

2185
00:37:12,875 --> 00:37:13,833
You know,

2186
00:37:13,833 --> 00:37:14,916
you are not Bitcoin.

2187
00:37:14,916 --> 00:37:16,041
Bitcoin is money

2188
00:37:16,041 --> 00:37:17,791
and whatever.

2189
00:37:17,791 --> 00:37:18,416
But when we

2190
00:37:18,416 --> 00:37:19,166
think about, well,

2191
00:37:19,166 --> 00:37:20,000
what is money?

2192
00:37:20,000 --> 00:37:20,666
Well money

2193
00:37:20,666 --> 00:37:22,291
holds holds value.

2194
00:37:22,291 --> 00:37:23,375
And then how do you

2195
00:37:23,375 --> 00:37:24,416
how do you get value.

2196
00:37:24,416 --> 00:37:25,916
Well you spend

2197
00:37:25,916 --> 00:37:27,000
your time

2198
00:37:27,000 --> 00:37:28,166
producing value

2199
00:37:28,166 --> 00:37:28,958
with your hands,

2200
00:37:28,958 --> 00:37:29,625
your efforts

2201
00:37:29,625 --> 00:37:30,833
and your brain

2202
00:37:30,833 --> 00:37:31,541
and

2203
00:37:31,541 --> 00:37:32,333
and then you

2204
00:37:32,333 --> 00:37:33,750
receive something

2205
00:37:33,750 --> 00:37:34,833
to represent

2206
00:37:34,833 --> 00:37:35,500
the time

2207
00:37:35,500 --> 00:37:36,166
that you've spent,

2208
00:37:36,166 --> 00:37:37,125
the value that you,

2209
00:37:37,125 --> 00:37:38,000
that you've created

2210
00:37:38,000 --> 00:37:39,208
with your time

2211
00:37:39,208 --> 00:37:39,541
and so

2212
00:37:39,541 --> 00:37:40,666
if you think about,

2213
00:37:40,666 --> 00:37:40,958
you know,

2214
00:37:40,958 --> 00:37:41,750
if you, if you

2215
00:37:41,750 --> 00:37:43,875
if you agree that time

2216
00:37:43,875 --> 00:37:44,875
equals value,

2217
00:37:44,875 --> 00:37:46,541
value equals money,

2218
00:37:46,541 --> 00:37:47,583
then you can just

2219
00:37:47,583 --> 00:37:48,375
remove value.

2220
00:37:48,375 --> 00:37:50,041
Time equals money

2221
00:37:50,041 --> 00:37:50,375
and the

2222
00:37:50,375 --> 00:37:51,500
human's spending

2223
00:37:51,500 --> 00:37:52,500
their time

2224
00:37:52,500 --> 00:37:53,583
is going to

2225
00:37:53,583 --> 00:37:55,500
trade it for money,

2226
00:37:55,500 --> 00:37:56,041
which means

2227
00:37:56,041 --> 00:37:57,125
the money is simply

2228
00:37:57,125 --> 00:37:59,041
a reflection of us

2229
00:37:59,041 --> 00:38:00,458
as, as human beings.

2230
00:38:00,458 --> 00:38:01,083
When we spend

2231
00:38:01,083 --> 00:38:02,375
our time to

2232
00:38:02,375 --> 00:38:02,791
in order to

2233
00:38:02,791 --> 00:38:03,750
earn money,

2234
00:38:03,750 --> 00:38:04,250
we are

2235
00:38:04,250 --> 00:38:04,958
we are

2236
00:38:04,958 --> 00:38:05,875
frankly, trading

2237
00:38:05,875 --> 00:38:07,625
time for money.

2238
00:38:07,625 --> 00:38:08,791
Which again

2239
00:38:08,791 --> 00:38:09,541
means the money

2240
00:38:09,541 --> 00:38:10,625
is just simply

2241
00:38:10,625 --> 00:38:11,500
a representation

2242
00:38:11,500 --> 00:38:12,541
of our time.

2243
00:38:12,541 --> 00:38:13,625
And when you have

2244
00:38:13,625 --> 00:38:15,375
something else

2245
00:38:15,375 --> 00:38:17,041
blowing that up,

2246
00:38:17,041 --> 00:38:17,458
you've given

2247
00:38:17,458 --> 00:38:18,708
someone else domain

2248
00:38:18,708 --> 00:38:19,541
over your time.

2249
00:38:20,666 --> 00:38:21,083
Yeah.

2250
00:38:21,083 --> 00:38:22,916
And, you're, you're

2251
00:38:22,916 --> 00:38:25,083
you're giving up

2252
00:38:25,083 --> 00:38:26,750
your time for someone.

2253
00:38:26,750 --> 00:38:28,291
You let other people

2254
00:38:28,291 --> 00:38:30,583
kill your time.

2255
00:38:30,583 --> 00:38:32,166
It was for you to kill

2256
00:38:32,166 --> 00:38:33,000
all the time.

2257
00:38:33,000 --> 00:38:34,166
Like,

2258
00:38:34,166 --> 00:38:35,083
you're letting others

2259
00:38:35,083 --> 00:38:35,583
steal it

2260
00:38:35,583 --> 00:38:36,125
while it was

2261
00:38:36,125 --> 00:38:37,208
for you to kill.

2262
00:38:37,208 --> 00:38:37,791
And the thing

2263
00:38:37,791 --> 00:38:38,958
is, like, the time

2264
00:38:38,958 --> 00:38:39,750
equals value.

2265
00:38:39,750 --> 00:38:40,708
You can't,

2266
00:38:40,708 --> 00:38:41,041
I don't

2267
00:38:41,041 --> 00:38:42,291
really buy that.

2268
00:38:42,291 --> 00:38:43,458
But what I do buy

2269
00:38:43,458 --> 00:38:44,791
is that,

2270
00:38:44,791 --> 00:38:46,625
money gives you a way

2271
00:38:46,625 --> 00:38:48,500
of evaluating

2272
00:38:48,500 --> 00:38:49,625
how well

2273
00:38:49,625 --> 00:38:51,125
you spend your time.

2274
00:38:51,125 --> 00:38:52,166
So the market,

2275
00:38:52,166 --> 00:38:53,541
a pure market signal,

2276
00:38:53,541 --> 00:38:54,041
which you can

2277
00:38:54,041 --> 00:38:54,541
only find

2278
00:38:54,541 --> 00:38:55,625
with Bitcoin,

2279
00:38:55,625 --> 00:38:56,458
is telling you

2280
00:38:56,458 --> 00:38:57,208
that if you

2281
00:38:57,208 --> 00:38:58,291
it is telling you

2282
00:38:58,291 --> 00:38:59,041
if you're

2283
00:38:59,041 --> 00:39:00,333
spending your time

2284
00:39:00,333 --> 00:39:02,041
in a good way or not.

2285
00:39:02,041 --> 00:39:02,416
So like

2286
00:39:02,416 --> 00:39:02,750
if you're

2287
00:39:02,750 --> 00:39:04,000
making more sets

2288
00:39:04,000 --> 00:39:04,625
by doing

2289
00:39:04,625 --> 00:39:06,291
the things you do,

2290
00:39:06,291 --> 00:39:06,791
you should be

2291
00:39:06,791 --> 00:39:07,708
happy about yourself.

2292
00:39:07,708 --> 00:39:08,833
Your your.

2293
00:39:08,833 --> 00:39:09,666
That was time

2294
00:39:09,666 --> 00:39:12,208
well spent. Yes, yes.

2295
00:39:12,208 --> 00:39:12,791
Well and

2296
00:39:12,791 --> 00:39:14,041
and but

2297
00:39:14,041 --> 00:39:15,541
not necessarily that.

2298
00:39:15,541 --> 00:39:16,625
Just if you can,

2299
00:39:16,625 --> 00:39:17,458
if you can live

2300
00:39:17,458 --> 00:39:18,833
within your means,

2301
00:39:18,833 --> 00:39:19,583
if you have more

2302
00:39:19,583 --> 00:39:20,541
purchasing power

2303
00:39:20,541 --> 00:39:22,250
tomorrow than today,

2304
00:39:22,250 --> 00:39:23,708
then you're fine.

2305
00:39:23,708 --> 00:39:24,833
Forever. Like.

2306
00:39:24,833 --> 00:39:26,166
And if that means,

2307
00:39:26,166 --> 00:39:27,000
you know, you only

2308
00:39:27,000 --> 00:39:29,333
you stacked way back

2309
00:39:29,333 --> 00:39:29,875
and now you're

2310
00:39:29,875 --> 00:39:31,041
just sitting there

2311
00:39:31,041 --> 00:39:31,916
spending more time

2312
00:39:31,916 --> 00:39:32,791
with your family.

2313
00:39:32,791 --> 00:39:34,166
Well, good on you.

2314
00:39:34,166 --> 00:39:36,291
Well, only it's like

2315
00:39:36,291 --> 00:39:36,958
it's it's

2316
00:39:36,958 --> 00:39:37,541
telling you

2317
00:39:37,541 --> 00:39:38,541
if you're playing

2318
00:39:38,541 --> 00:39:39,041
this thing

2319
00:39:39,041 --> 00:39:40,625
right or not.

2320
00:39:40,625 --> 00:39:41,250
And that.

2321
00:39:41,250 --> 00:39:41,875
It's a.

2322
00:39:41,875 --> 00:39:42,916
That depends on how

2323
00:39:42,916 --> 00:39:43,291
the rest of

2324
00:39:43,291 --> 00:39:44,375
the world is doing.

2325
00:39:44,375 --> 00:39:45,208
So like if,

2326
00:39:45,208 --> 00:39:46,416
if there's,

2327
00:39:46,416 --> 00:39:47,583
a disaster,

2328
00:39:47,583 --> 00:39:48,166
then everyone

2329
00:39:48,166 --> 00:39:48,958
needs to chip in

2330
00:39:48,958 --> 00:39:49,666
because you can't

2331
00:39:49,666 --> 00:39:50,666
just sit on your ass

2332
00:39:50,666 --> 00:39:51,333
and and

2333
00:39:51,333 --> 00:39:52,250
let your purchasing

2334
00:39:52,250 --> 00:39:53,208
power increase

2335
00:39:53,208 --> 00:39:53,666
because that

2336
00:39:53,666 --> 00:39:54,166
won't work

2337
00:39:54,166 --> 00:39:55,208
in that scenario.

2338
00:39:55,208 --> 00:39:56,666
But if it does work

2339
00:39:56,666 --> 00:39:57,666
in a scenario

2340
00:39:57,666 --> 00:39:58,291
where everyone

2341
00:39:58,291 --> 00:39:58,833
is working for

2342
00:39:58,833 --> 00:39:59,458
everyone else,

2343
00:39:59,458 --> 00:40:00,833
and with Bitcoin,

2344
00:40:00,833 --> 00:40:02,375
it's just telling us

2345
00:40:02,375 --> 00:40:03,625
what what should be

2346
00:40:03,625 --> 00:40:04,333
obvious

2347
00:40:04,333 --> 00:40:04,708
should have

2348
00:40:04,708 --> 00:40:05,750
been obvious all along

2349
00:40:05,750 --> 00:40:06,750
that we're better off

2350
00:40:06,750 --> 00:40:07,583
cooperating

2351
00:40:07,583 --> 00:40:08,375
than addressing

2352
00:40:08,375 --> 00:40:09,208
against one another.

2353
00:40:09,208 --> 00:40:10,083
Yes, because that's

2354
00:40:10,083 --> 00:40:11,083
the only thing we took

2355
00:40:11,083 --> 00:40:11,916
out of the equation

2356
00:40:11,916 --> 00:40:13,458
is the aggression

2357
00:40:13,458 --> 00:40:14,250
that you

2358
00:40:14,250 --> 00:40:15,000
can't steal it.

2359
00:40:15,000 --> 00:40:15,541
You can't make

2360
00:40:15,541 --> 00:40:16,708
more of it. You can't.

2361
00:40:16,708 --> 00:40:17,916
You can't steal,

2362
00:40:17,916 --> 00:40:18,791
you can't aggress,

2363
00:40:18,791 --> 00:40:19,666
you can't violate

2364
00:40:19,666 --> 00:40:20,250
someone else's

2365
00:40:20,250 --> 00:40:20,958
property.

2366
00:40:20,958 --> 00:40:21,875
Their the. Aggression.

2367
00:40:21,875 --> 00:40:23,250
Everything is good.

2368
00:40:23,250 --> 00:40:23,708
And we're

2369
00:40:23,708 --> 00:40:24,916
I feel like we are,

2370
00:40:25,916 --> 00:40:26,250
yeah.

2371
00:40:26,250 --> 00:40:27,208
Bitcoin forces you

2372
00:40:27,208 --> 00:40:28,958
to obey the the

2373
00:40:28,958 --> 00:40:30,458
the cobra effect

2374
00:40:30,458 --> 00:40:31,500
as you will.

2375
00:40:31,500 --> 00:40:32,541
And and it

2376
00:40:32,541 --> 00:40:34,208
it aligns incentives

2377
00:40:34,208 --> 00:40:34,833
in the way

2378
00:40:34,833 --> 00:40:35,791
that you have

2379
00:40:35,791 --> 00:40:36,416
described.

2380
00:40:36,416 --> 00:40:37,500
We've got now

2381
00:40:37,500 --> 00:40:38,791
a monetary system

2382
00:40:38,791 --> 00:40:40,791
where unilaterally

2383
00:40:40,791 --> 00:40:41,375
everyone

2384
00:40:41,375 --> 00:40:42,541
has the opportunity

2385
00:40:42,541 --> 00:40:43,875
to participate.

2386
00:40:43,875 --> 00:40:45,666
But to your point

2387
00:40:45,666 --> 00:40:47,250
not everyone can

2388
00:40:47,250 --> 00:40:49,083
or will do it equally.

2389
00:40:49,083 --> 00:40:49,708
And so it

2390
00:40:49,708 --> 00:40:51,000
creates this.

2391
00:40:51,000 --> 00:40:51,666
It's like I'm

2392
00:40:51,666 --> 00:40:52,500
not going to worry

2393
00:40:52,500 --> 00:40:53,250
about fighting

2394
00:40:53,250 --> 00:40:54,125
everybody else.

2395
00:40:54,125 --> 00:40:54,958
I'm going to work

2396
00:40:54,958 --> 00:40:55,750
internally.

2397
00:40:55,750 --> 00:40:56,083
I'm going to

2398
00:40:56,083 --> 00:40:57,166
work on myself

2399
00:40:57,166 --> 00:40:57,833
so that I'm

2400
00:40:57,833 --> 00:40:58,666
able to produce

2401
00:40:58,666 --> 00:40:59,125
more sort of

2402
00:40:59,125 --> 00:40:59,708
I can get a

2403
00:40:59,708 --> 00:41:00,708
bigger piece

2404
00:41:00,708 --> 00:41:01,333
of the pie.

2405
00:41:01,333 --> 00:41:02,541
This is a pure form

2406
00:41:02,541 --> 00:41:03,541
of meritocracy.

2407
00:41:03,541 --> 00:41:04,541
This is meritocracy,

2408
00:41:04,541 --> 00:41:04,875
money.

2409
00:41:04,875 --> 00:41:06,000
This is like

2410
00:41:06,000 --> 00:41:06,916
this is the holy grail

2411
00:41:06,916 --> 00:41:07,791
of aligned incentives.

2412
00:41:07,791 --> 00:41:08,791
Rather than,

2413
00:41:08,791 --> 00:41:09,041
you know,

2414
00:41:09,041 --> 00:41:10,833
where we are today.

2415
00:41:10,833 --> 00:41:12,750
We just did a video,

2416
00:41:12,750 --> 00:41:14,583
on corporate ocracy,

2417
00:41:14,583 --> 00:41:15,625
which is a newer term

2418
00:41:15,625 --> 00:41:17,041
that I had not not

2419
00:41:17,041 --> 00:41:17,458
heard of,

2420
00:41:17,458 --> 00:41:18,750
which is basically,

2421
00:41:18,750 --> 00:41:19,083
you know,

2422
00:41:19,083 --> 00:41:20,166
large corporations

2423
00:41:20,166 --> 00:41:20,666
effectively

2424
00:41:20,666 --> 00:41:21,416
being an arm

2425
00:41:21,416 --> 00:41:22,083
of the government,

2426
00:41:22,083 --> 00:41:23,375
an arm of the state.

2427
00:41:23,375 --> 00:41:24,125
The state

2428
00:41:24,125 --> 00:41:24,791
is going to

2429
00:41:24,791 --> 00:41:26,458
put pressure on

2430
00:41:26,458 --> 00:41:27,333
and then reward

2431
00:41:27,333 --> 00:41:29,041
those that respond.

2432
00:41:29,041 --> 00:41:30,250
And,

2433
00:41:30,250 --> 00:41:31,416
when it becomes

2434
00:41:31,416 --> 00:41:32,500
more efficient

2435
00:41:32,500 --> 00:41:34,125
to lobby the state,

2436
00:41:34,125 --> 00:41:35,708
then to do R&D

2437
00:41:35,708 --> 00:41:36,166
and market

2438
00:41:36,166 --> 00:41:37,291
your business,

2439
00:41:37,291 --> 00:41:39,416
you can see a decline

2440
00:41:39,416 --> 00:41:40,625
in society.

2441
00:41:40,625 --> 00:41:41,666
It's no longer

2442
00:41:41,666 --> 00:41:42,750
providing

2443
00:41:42,750 --> 00:41:43,541
the most amount

2444
00:41:43,541 --> 00:41:44,791
of people value.

2445
00:41:44,791 --> 00:41:45,958
You're providing those

2446
00:41:45,958 --> 00:41:46,750
with the most power

2447
00:41:46,750 --> 00:41:47,125
value.

2448
00:41:47,125 --> 00:41:47,791
And Bitcoin

2449
00:41:47,791 --> 00:41:48,875
completely flips

2450
00:41:48,875 --> 00:41:49,750
that script,

2451
00:41:49,750 --> 00:41:50,833
which again

2452
00:41:50,833 --> 00:41:51,833
makes me super bullish

2453
00:41:51,833 --> 00:41:53,083
on the future.

2454
00:41:53,083 --> 00:41:53,666
No,

2455
00:41:53,666 --> 00:41:54,750
the opposite of

2456
00:41:54,750 --> 00:41:55,625
quality is

2457
00:41:55,625 --> 00:41:56,666
not inequality.

2458
00:41:56,666 --> 00:41:57,750
It's equality.

2459
00:41:57,750 --> 00:41:58,500
Yeah, right.

2460
00:41:59,791 --> 00:42:00,791
100%.

2461
00:42:00,791 --> 00:42:01,083
Yeah.

2462
00:42:01,083 --> 00:42:02,375
You said

2463
00:42:02,375 --> 00:42:03,416
something intrigued me

2464
00:42:03,416 --> 00:42:03,708
there.

2465
00:42:03,708 --> 00:42:04,833
The cobra effect.

2466
00:42:04,833 --> 00:42:06,750
What is that?

2467
00:42:06,750 --> 00:42:07,833
So the cobra effect

2468
00:42:07,833 --> 00:42:10,083
stems back,

2469
00:42:10,083 --> 00:42:10,625
and actually,

2470
00:42:10,625 --> 00:42:11,583
it's funny,

2471
00:42:11,583 --> 00:42:12,416
I say this

2472
00:42:12,416 --> 00:42:14,250
as if it's fact.

2473
00:42:14,250 --> 00:42:14,875
I don't think

2474
00:42:14,875 --> 00:42:15,666
there's documented

2475
00:42:15,666 --> 00:42:16,791
record of this,

2476
00:42:16,791 --> 00:42:17,666
but we will.

2477
00:42:17,666 --> 00:42:18,541
Let's just assume

2478
00:42:18,541 --> 00:42:19,041
that there is

2479
00:42:19,041 --> 00:42:19,625
and we'll take it

2480
00:42:19,625 --> 00:42:20,041
as fact.

2481
00:42:20,041 --> 00:42:20,583
But the

2482
00:42:20,583 --> 00:42:21,708
the thesis holds true

2483
00:42:21,708 --> 00:42:23,208
either way.

2484
00:42:23,208 --> 00:42:23,583
When the

2485
00:42:23,583 --> 00:42:24,208
British government

2486
00:42:24,208 --> 00:42:24,708
took over

2487
00:42:24,708 --> 00:42:26,666
India in the 15,

2488
00:42:26,666 --> 00:42:28,000
1600s,

2489
00:42:28,000 --> 00:42:28,291
there was a

2490
00:42:28,291 --> 00:42:29,958
cobra problem.

2491
00:42:29,958 --> 00:42:30,875
The, the

2492
00:42:30,875 --> 00:42:31,708
the the nation

2493
00:42:31,708 --> 00:42:33,000
of India was overrun

2494
00:42:33,000 --> 00:42:33,583
with cobras.

2495
00:42:33,583 --> 00:42:34,583
It was eating

2496
00:42:34,583 --> 00:42:35,416
like children

2497
00:42:35,416 --> 00:42:36,750
and citizens.

2498
00:42:36,750 --> 00:42:37,333
And the

2499
00:42:37,333 --> 00:42:38,000
British government

2500
00:42:38,000 --> 00:42:38,458
said,

2501
00:42:38,458 --> 00:42:39,583
we can't have this.

2502
00:42:39,583 --> 00:42:40,708
We must

2503
00:42:40,708 --> 00:42:41,833
kill the Cobra.

2504
00:42:41,833 --> 00:42:42,041
And they

2505
00:42:42,041 --> 00:42:43,833
put a bounty out

2506
00:42:43,833 --> 00:42:45,875
on the head of a cobra

2507
00:42:45,875 --> 00:42:47,625
so that any individual

2508
00:42:47,625 --> 00:42:48,541
could go out,

2509
00:42:48,541 --> 00:42:49,416
find a cobra,

2510
00:42:49,416 --> 00:42:50,666
kill the cobra,

2511
00:42:50,666 --> 00:42:51,208
take its head

2512
00:42:51,208 --> 00:42:52,166
back to the government

2513
00:42:52,166 --> 00:42:53,125
and say, here you go.

2514
00:42:53,125 --> 00:42:53,750
And they would get

2515
00:42:53,750 --> 00:42:54,791
a wage of some

2516
00:42:54,791 --> 00:42:55,500
of some sort,

2517
00:42:57,166 --> 00:42:57,583
which on the

2518
00:42:57,583 --> 00:42:58,791
surface sounds very,

2519
00:42:58,791 --> 00:42:59,916
very good.

2520
00:42:59,916 --> 00:43:01,291
But like every

2521
00:43:01,291 --> 00:43:02,458
artificial force

2522
00:43:02,458 --> 00:43:03,458
entering into a

2523
00:43:03,458 --> 00:43:04,541
natural environment,

2524
00:43:04,541 --> 00:43:05,583
there are secondary

2525
00:43:05,583 --> 00:43:06,208
and tertiary

2526
00:43:06,208 --> 00:43:06,875
consequences.

2527
00:43:06,875 --> 00:43:07,625
So what happened?

2528
00:43:07,625 --> 00:43:08,291
Well,

2529
00:43:08,291 --> 00:43:08,791
people started

2530
00:43:08,791 --> 00:43:09,958
breeding cobras

2531
00:43:09,958 --> 00:43:10,500
so they would

2532
00:43:10,500 --> 00:43:11,458
capture them.

2533
00:43:11,458 --> 00:43:12,791
They would not kill them

2534
00:43:12,791 --> 00:43:13,166
and they would

2535
00:43:13,166 --> 00:43:14,041
breed them.

2536
00:43:14,041 --> 00:43:15,500
And then, you know,

2537
00:43:15,500 --> 00:43:16,291
over the course

2538
00:43:16,291 --> 00:43:17,958
of this breeding time,

2539
00:43:17,958 --> 00:43:18,541
they would bring

2540
00:43:18,541 --> 00:43:20,250
in ten cobras,

2541
00:43:20,250 --> 00:43:21,208
all for the state

2542
00:43:21,208 --> 00:43:22,000
to give them

2543
00:43:22,000 --> 00:43:24,041
ten wages.

2544
00:43:24,041 --> 00:43:24,708
And now the state

2545
00:43:24,708 --> 00:43:25,500
has a choice.

2546
00:43:25,500 --> 00:43:26,541
We can, you know,

2547
00:43:26,541 --> 00:43:27,041
the Cobras are

2548
00:43:27,041 --> 00:43:28,625
still going down.

2549
00:43:28,625 --> 00:43:29,125
The Cobras

2550
00:43:29,125 --> 00:43:30,625
are contained.

2551
00:43:30,625 --> 00:43:31,708
This is less cobra

2552
00:43:31,708 --> 00:43:33,333
accidents per capita,

2553
00:43:33,333 --> 00:43:34,208
but we're

2554
00:43:34,208 --> 00:43:34,625
getting taken

2555
00:43:34,625 --> 00:43:35,458
advantage of.

2556
00:43:35,458 --> 00:43:36,166
Of course, the

2557
00:43:36,166 --> 00:43:37,166
the monarchy hates

2558
00:43:37,166 --> 00:43:37,458
being taken

2559
00:43:37,458 --> 00:43:38,000
advantage of.

2560
00:43:38,000 --> 00:43:39,833
So away with this

2561
00:43:39,833 --> 00:43:41,166
Cobra wage.

2562
00:43:41,166 --> 00:43:42,291
And what do you think

2563
00:43:42,291 --> 00:43:43,666
the farmers did

2564
00:43:43,666 --> 00:43:44,458
with all of

2565
00:43:44,458 --> 00:43:46,125
their cobras?

2566
00:43:46,125 --> 00:43:47,250
Well, out

2567
00:43:47,250 --> 00:43:48,875
they go into the wild.

2568
00:43:48,875 --> 00:43:49,541
Why would I

2569
00:43:49,541 --> 00:43:50,375
farm cobras?

2570
00:43:50,375 --> 00:43:50,791
Why would I

2571
00:43:50,791 --> 00:43:51,958
kill a cobra

2572
00:43:51,958 --> 00:43:53,125
when I'm no longer

2573
00:43:53,125 --> 00:43:54,541
getting paid to do so?

2574
00:43:54,541 --> 00:43:56,333
And so in effect,

2575
00:43:56,333 --> 00:43:57,291
after I,

2576
00:43:57,291 --> 00:43:58,083
you know, whatever

2577
00:43:58,083 --> 00:43:58,375
the amount

2578
00:43:58,375 --> 00:43:59,541
of time was,

2579
00:43:59,541 --> 00:44:00,708
the Cobra problem

2580
00:44:00,708 --> 00:44:02,166
got infinitely worse.

2581
00:44:02,166 --> 00:44:03,000
And there was now

2582
00:44:03,000 --> 00:44:04,583
more cobras,

2583
00:44:04,583 --> 00:44:05,416
in the wild,

2584
00:44:05,416 --> 00:44:07,000
killing more citizens

2585
00:44:07,000 --> 00:44:07,916
after this

2586
00:44:07,916 --> 00:44:09,041
unnatural force

2587
00:44:09,041 --> 00:44:10,041
came in

2588
00:44:10,041 --> 00:44:10,833
with, frankly,

2589
00:44:10,833 --> 00:44:11,791
the best intentions.

2590
00:44:11,791 --> 00:44:12,041
You know,

2591
00:44:12,041 --> 00:44:13,208
sometimes I do believe

2592
00:44:13,208 --> 00:44:14,166
the state is evil

2593
00:44:14,166 --> 00:44:15,666
in a lot of ways.

2594
00:44:15,666 --> 00:44:16,291
But I don't

2595
00:44:16,291 --> 00:44:16,708
believe that

2596
00:44:16,708 --> 00:44:18,416
everything they do,

2597
00:44:18,416 --> 00:44:19,583
has mal intent.

2598
00:44:21,166 --> 00:44:21,750
They just doesn't.

2599
00:44:21,750 --> 00:44:22,916
Have.

2600
00:44:22,916 --> 00:44:23,458
The. Exactly.

2601
00:44:23,458 --> 00:44:24,333
They're just ignoring

2602
00:44:24,333 --> 00:44:25,166
the cobra effect.

2603
00:44:25,166 --> 00:44:25,333
They're

2604
00:44:25,333 --> 00:44:26,875
ignoring physics

2605
00:44:26,875 --> 00:44:28,166
that, you know,

2606
00:44:28,166 --> 00:44:29,791
I can't have all the

2607
00:44:29,791 --> 00:44:31,083
the happy intent

2608
00:44:31,083 --> 00:44:31,625
in the world

2609
00:44:31,625 --> 00:44:32,541
jumping off a cliff

2610
00:44:32,541 --> 00:44:34,291
and flapping my arms.

2611
00:44:34,291 --> 00:44:34,833
I'm just going

2612
00:44:34,833 --> 00:44:35,250
to tumble.

2613
00:44:35,250 --> 00:44:36,208
Physics doesn't work

2614
00:44:36,208 --> 00:44:36,958
that way.

2615
00:44:36,958 --> 00:44:38,000
And the same way,

2616
00:44:38,000 --> 00:44:38,250
you know,

2617
00:44:38,250 --> 00:44:39,000
the British government

2618
00:44:39,000 --> 00:44:39,333
had all the

2619
00:44:39,333 --> 00:44:41,041
positive vibes

2620
00:44:41,041 --> 00:44:42,041
that just

2621
00:44:42,041 --> 00:44:43,166
gave messed up.

2622
00:44:43,166 --> 00:44:44,041
You cannot no, no

2623
00:44:44,041 --> 00:44:45,416
natural forces in.

2624
00:44:45,416 --> 00:44:46,583
This is,

2625
00:44:46,583 --> 00:44:47,583
I believe this story

2626
00:44:47,583 --> 00:44:48,125
to be true.

2627
00:44:48,125 --> 00:44:48,541
I've heard it

2628
00:44:48,541 --> 00:44:49,083
many times

2629
00:44:49,083 --> 00:44:49,625
before, and

2630
00:44:49,625 --> 00:44:50,458
I have no reason

2631
00:44:50,458 --> 00:44:51,000
to doubt

2632
00:44:51,000 --> 00:44:52,833
its truthfulness.

2633
00:44:52,833 --> 00:44:54,541
And,

2634
00:44:54,541 --> 00:44:55,500
I mean, you see it

2635
00:44:55,500 --> 00:44:56,000
everywhere,

2636
00:44:56,000 --> 00:44:57,125
but the thing is that

2637
00:44:57,125 --> 00:44:57,666
politicians

2638
00:44:57,666 --> 00:44:58,333
don't realize

2639
00:44:58,333 --> 00:44:59,000
is that you get

2640
00:44:59,000 --> 00:45:00,125
what you pay for,

2641
00:45:00,125 --> 00:45:00,791
but they don't

2642
00:45:00,791 --> 00:45:01,708
understand what

2643
00:45:01,708 --> 00:45:03,000
they're paying for.

2644
00:45:03,000 --> 00:45:05,250
So if you're paying in

2645
00:45:05,250 --> 00:45:07,125
non-pro active people,

2646
00:45:07,125 --> 00:45:07,750
then you get

2647
00:45:07,750 --> 00:45:09,125
non productivity.

2648
00:45:09,125 --> 00:45:09,750
That's that's

2649
00:45:09,750 --> 00:45:10,708
what you're paying for

2650
00:45:10,708 --> 00:45:11,041
and that's

2651
00:45:11,041 --> 00:45:12,333
what you're gonna get.

2652
00:45:12,333 --> 00:45:13,416
And if you pay for

2653
00:45:13,416 --> 00:45:14,791
people to be sick

2654
00:45:14,791 --> 00:45:15,666
then you get sick.

2655
00:45:15,666 --> 00:45:16,625
People.

2656
00:45:16,625 --> 00:45:17,916
The people the

2657
00:45:17,916 --> 00:45:18,833
the people have

2658
00:45:18,833 --> 00:45:19,500
the incentive

2659
00:45:19,500 --> 00:45:20,625
to be sick.

2660
00:45:20,625 --> 00:45:22,125
If you pay

2661
00:45:22,125 --> 00:45:23,833
pensions you get,

2662
00:45:25,083 --> 00:45:27,708
you know, old people

2663
00:45:27,708 --> 00:45:29,458
and

2664
00:45:29,458 --> 00:45:30,208
you'll get people

2665
00:45:30,208 --> 00:45:31,416
that no longer work

2666
00:45:31,416 --> 00:45:32,166
like this is

2667
00:45:32,166 --> 00:45:33,916
this is like,

2668
00:45:33,916 --> 00:45:35,166
so, so I think that's

2669
00:45:35,166 --> 00:45:36,333
that's the key.

2670
00:45:36,333 --> 00:45:38,375
Like, and that's,

2671
00:45:38,375 --> 00:45:39,458
why politicians are

2672
00:45:39,458 --> 00:45:40,833
so ill fit for the,

2673
00:45:40,833 --> 00:45:42,000
for the jobs

2674
00:45:42,000 --> 00:45:43,208
because they, they,

2675
00:45:43,208 --> 00:45:44,750
they are themselves

2676
00:45:44,750 --> 00:45:45,875
not incentivized

2677
00:45:45,875 --> 00:45:46,666
to understand

2678
00:45:46,666 --> 00:45:47,041
what they're

2679
00:45:47,041 --> 00:45:47,916
paying for

2680
00:45:47,916 --> 00:45:48,541
because they don't

2681
00:45:48,541 --> 00:45:49,291
have to care,

2682
00:45:49,291 --> 00:45:49,833
because they're

2683
00:45:49,833 --> 00:45:50,791
paying other people

2684
00:45:50,791 --> 00:45:51,333
with other

2685
00:45:51,333 --> 00:45:52,208
people's money.

2686
00:45:52,208 --> 00:45:52,458
Yeah.

2687
00:45:52,458 --> 00:45:53,000
So they know

2688
00:45:53,000 --> 00:45:54,250
that's incentivized.

2689
00:45:54,250 --> 00:45:54,750
Not only are they

2690
00:45:54,750 --> 00:45:55,958
not incentivized,

2691
00:45:55,958 --> 00:45:56,333
they are

2692
00:45:56,333 --> 00:45:57,541
the incentivized.

2693
00:45:57,541 --> 00:45:57,708
Yeah.

2694
00:45:57,708 --> 00:45:58,583
They they're

2695
00:45:58,583 --> 00:46:01,041
life gets worse

2696
00:46:01,041 --> 00:46:02,041
if they adopt

2697
00:46:02,041 --> 00:46:03,541
sound money,

2698
00:46:03,541 --> 00:46:03,875
you know,

2699
00:46:03,875 --> 00:46:05,208
based principles.

2700
00:46:05,208 --> 00:46:06,083
And that's a problem.

2701
00:46:06,083 --> 00:46:07,625
That's a big problem.

2702
00:46:07,625 --> 00:46:08,291
Yeah.

2703
00:46:08,291 --> 00:46:09,416
And it's,

2704
00:46:09,416 --> 00:46:10,833
but but I find it

2705
00:46:10,833 --> 00:46:11,708
so fascinating,

2706
00:46:11,708 --> 00:46:12,541
I keep falling

2707
00:46:12,541 --> 00:46:13,375
for the same thing

2708
00:46:13,375 --> 00:46:14,291
over and over again

2709
00:46:14,291 --> 00:46:15,833
and know that we

2710
00:46:15,833 --> 00:46:16,750
human beings

2711
00:46:16,750 --> 00:46:18,166
like that,

2712
00:46:18,166 --> 00:46:19,041
it's like this, this

2713
00:46:19,041 --> 00:46:20,125
constant struggle

2714
00:46:20,125 --> 00:46:21,541
between

2715
00:46:21,541 --> 00:46:22,583
I look at as

2716
00:46:22,583 --> 00:46:24,000
between barbarism

2717
00:46:24,000 --> 00:46:25,000
and civilization

2718
00:46:25,000 --> 00:46:25,916
or between,

2719
00:46:25,916 --> 00:46:27,333
fang and claw and,

2720
00:46:27,333 --> 00:46:28,083
and free

2721
00:46:28,083 --> 00:46:29,000
market competition.

2722
00:46:29,000 --> 00:46:29,666
Because I think

2723
00:46:29,666 --> 00:46:31,166
they're diametrically

2724
00:46:31,166 --> 00:46:32,208
opposite, like

2725
00:46:32,208 --> 00:46:32,958
they are.

2726
00:46:34,541 --> 00:46:35,458
Either we do things

2727
00:46:35,458 --> 00:46:36,458
by collaborating

2728
00:46:36,458 --> 00:46:38,500
or we do, like, there

2729
00:46:38,500 --> 00:46:39,875
there are two ways of

2730
00:46:39,875 --> 00:46:41,291
of finding

2731
00:46:41,291 --> 00:46:42,666
the correct owner

2732
00:46:42,666 --> 00:46:43,666
for a thing,

2733
00:46:43,666 --> 00:46:44,958
a good or a service

2734
00:46:44,958 --> 00:46:45,666
or whatever,

2735
00:46:45,666 --> 00:46:46,833
or a piece of land.

2736
00:46:46,833 --> 00:46:47,666
And that is,

2737
00:46:47,666 --> 00:46:47,958
either

2738
00:46:47,958 --> 00:46:48,708
you find it out

2739
00:46:48,708 --> 00:46:49,500
on the market

2740
00:46:49,500 --> 00:46:51,541
or you fight for it.

2741
00:46:51,541 --> 00:46:52,458
And so, so

2742
00:46:52,458 --> 00:46:52,708
there's

2743
00:46:52,708 --> 00:46:53,416
a civilized way

2744
00:46:53,416 --> 00:46:54,083
to do things

2745
00:46:54,083 --> 00:46:54,875
and a barbaric way

2746
00:46:54,875 --> 00:46:56,166
of doing things.

2747
00:46:56,166 --> 00:46:57,666
And Bitcoin cannot do

2748
00:46:57,666 --> 00:46:58,541
the barbaric thing.

2749
00:46:58,541 --> 00:46:59,250
It can only do

2750
00:46:59,250 --> 00:47:00,125
the civilized thing.

2751
00:47:00,125 --> 00:47:01,416
So like, yeah.

2752
00:47:01,416 --> 00:47:01,583
Yeah.

2753
00:47:01,583 --> 00:47:02,250
What do you think.

2754
00:47:02,250 --> 00:47:03,166
And so

2755
00:47:03,166 --> 00:47:04,166
why do you think it

2756
00:47:04,166 --> 00:47:05,541
is that

2757
00:47:05,541 --> 00:47:06,583
so many people

2758
00:47:06,583 --> 00:47:08,166
don't understand that

2759
00:47:08,166 --> 00:47:09,541
like like,

2760
00:47:09,541 --> 00:47:09,750
because what

2761
00:47:09,750 --> 00:47:10,166
you're saying

2762
00:47:10,166 --> 00:47:11,250
makes 100% sense

2763
00:47:11,250 --> 00:47:11,833
to me.

2764
00:47:11,833 --> 00:47:13,291
Seems very logical.

2765
00:47:13,291 --> 00:47:13,750
Yeah.

2766
00:47:13,750 --> 00:47:16,041
Because I think that,

2767
00:47:16,041 --> 00:47:18,458
we are so used like,

2768
00:47:18,458 --> 00:47:19,833
hundreds and hundreds

2769
00:47:19,833 --> 00:47:21,458
of generations

2770
00:47:21,458 --> 00:47:23,666
of fraudulent money,

2771
00:47:23,666 --> 00:47:23,916
like,

2772
00:47:23,916 --> 00:47:25,250
this is not, it's

2773
00:47:25,250 --> 00:47:26,500
not anything new.

2774
00:47:26,500 --> 00:47:27,000
And, like,

2775
00:47:27,000 --> 00:47:27,541
even on a

2776
00:47:27,541 --> 00:47:28,541
gold standard,

2777
00:47:28,541 --> 00:47:29,250
gold isn't

2778
00:47:29,250 --> 00:47:30,583
absolutely finite

2779
00:47:30,583 --> 00:47:31,916
or absolutely scarce.

2780
00:47:31,916 --> 00:47:32,583
Look at China

2781
00:47:32,583 --> 00:47:33,125
recently.

2782
00:47:33,125 --> 00:47:33,708
You see that?

2783
00:47:33,708 --> 00:47:34,416
They just. Yeah.

2784
00:47:34,416 --> 00:47:35,416
Yeah. They found.

2785
00:47:35,416 --> 00:47:37,333
The gold. Yeah. Yeah.

2786
00:47:37,333 --> 00:47:38,291
So, so and,

2787
00:47:39,416 --> 00:47:40,083
all of a sudden

2788
00:47:40,083 --> 00:47:40,541
these things

2789
00:47:40,541 --> 00:47:40,916
are found.

2790
00:47:40,916 --> 00:47:42,541
But like with

2791
00:47:42,541 --> 00:47:44,291
we've lived with this,

2792
00:47:44,291 --> 00:47:45,541
inherent lie

2793
00:47:45,541 --> 00:47:46,125
in the way

2794
00:47:46,125 --> 00:47:46,750
we conduct

2795
00:47:46,750 --> 00:47:47,500
our business

2796
00:47:47,500 --> 00:47:49,166
since forever.

2797
00:47:49,166 --> 00:47:50,250
So, so I think

2798
00:47:50,250 --> 00:47:51,541
it's and, you know,

2799
00:47:51,541 --> 00:47:52,500
making money,

2800
00:47:52,500 --> 00:47:53,291
especially making

2801
00:47:53,291 --> 00:47:54,041
money fast

2802
00:47:54,041 --> 00:47:55,416
and, has

2803
00:47:55,416 --> 00:47:58,416
always been to, to a,

2804
00:47:58,500 --> 00:47:59,458
greater or lesser

2805
00:47:59,458 --> 00:48:00,666
extent on

2806
00:48:00,666 --> 00:48:01,458
at someone

2807
00:48:01,458 --> 00:48:03,375
else's expense.

2808
00:48:03,375 --> 00:48:04,625
And the fact that

2809
00:48:04,625 --> 00:48:05,125
it doesn't

2810
00:48:05,125 --> 00:48:07,541
have to be at all ever

2811
00:48:07,541 --> 00:48:08,416
is very hard

2812
00:48:08,416 --> 00:48:08,791
for people

2813
00:48:08,791 --> 00:48:09,791
to get in their

2814
00:48:09,791 --> 00:48:10,791
into their heads,

2815
00:48:10,791 --> 00:48:12,000
because everyone see

2816
00:48:12,000 --> 00:48:14,666
that thinks that like,

2817
00:48:14,666 --> 00:48:15,500
that does

2818
00:48:15,500 --> 00:48:16,208
not possible.

2819
00:48:16,208 --> 00:48:17,208
Just every

2820
00:48:17,208 --> 00:48:18,250
person on earth

2821
00:48:18,250 --> 00:48:20,000
getting richer

2822
00:48:20,000 --> 00:48:21,875
without anyone losing.

2823
00:48:21,875 --> 00:48:22,458
Like it's

2824
00:48:22,458 --> 00:48:23,083
a very hard

2825
00:48:23,083 --> 00:48:23,916
thing to imagine.

2826
00:48:23,916 --> 00:48:25,500
You think it will

2827
00:48:25,500 --> 00:48:26,791
once we.

2828
00:48:26,791 --> 00:48:27,875
I actually don't think

2829
00:48:27,875 --> 00:48:29,375
we will have

2830
00:48:29,375 --> 00:48:30,541
every person on

2831
00:48:30,541 --> 00:48:31,666
earth getting richer.

2832
00:48:32,875 --> 00:48:34,291
Once let's

2833
00:48:34,291 --> 00:48:35,666
assume Bitcoin is

2834
00:48:35,666 --> 00:48:36,875
is the is

2835
00:48:36,875 --> 00:48:37,541
this is it

2836
00:48:37,541 --> 00:48:39,625
now with like Bitcoin

2837
00:48:39,625 --> 00:48:40,541
I,

2838
00:48:40,541 --> 00:48:41,166
I feel like it

2839
00:48:41,166 --> 00:48:41,750
just it's

2840
00:48:41,750 --> 00:48:42,625
just stabilizes

2841
00:48:42,625 --> 00:48:44,791
everything and

2842
00:48:44,791 --> 00:48:45,750
the value

2843
00:48:45,750 --> 00:48:46,791
just transfers

2844
00:48:46,791 --> 00:48:48,000
to the most

2845
00:48:48,000 --> 00:48:50,375
like the most valuable

2846
00:48:50,375 --> 00:48:51,625
individuals.

2847
00:48:51,625 --> 00:48:52,750
That you know.

2848
00:48:52,750 --> 00:48:53,125
Okay.

2849
00:48:53,125 --> 00:48:53,916
I slightly

2850
00:48:53,916 --> 00:48:54,416
differ here.

2851
00:48:54,416 --> 00:48:56,458
I think we can have

2852
00:48:56,458 --> 00:48:58,291
like richer

2853
00:48:58,291 --> 00:48:59,125
all the time

2854
00:48:59,125 --> 00:48:59,791
for everyone

2855
00:48:59,791 --> 00:49:01,000
if we truly get hyper

2856
00:49:01,000 --> 00:49:01,416
bitcoin.

2857
00:49:01,416 --> 00:49:02,250
I, I do think

2858
00:49:02,250 --> 00:49:03,708
the purchasing power

2859
00:49:03,708 --> 00:49:05,208
goes up forever

2860
00:49:05,208 --> 00:49:06,916
because like the year

2861
00:49:06,916 --> 00:49:08,666
the every new good

2862
00:49:08,666 --> 00:49:09,416
or a service

2863
00:49:09,416 --> 00:49:10,333
that is put into

2864
00:49:10,333 --> 00:49:11,791
the Bitcoin economy

2865
00:49:11,791 --> 00:49:12,250
makes it

2866
00:49:12,250 --> 00:49:12,708
bigger

2867
00:49:12,708 --> 00:49:13,208
and makes the

2868
00:49:13,208 --> 00:49:13,833
pie bigger

2869
00:49:13,833 --> 00:49:15,500
for everyone in it.

2870
00:49:15,500 --> 00:49:16,125
And I think that

2871
00:49:16,125 --> 00:49:16,833
that's a process

2872
00:49:16,833 --> 00:49:17,541
that never stops.

2873
00:49:17,541 --> 00:49:18,833
But what does change,

2874
00:49:18,833 --> 00:49:19,291
though, is

2875
00:49:19,291 --> 00:49:20,625
people's behavior.

2876
00:49:20,625 --> 00:49:21,500
Because when

2877
00:49:21,500 --> 00:49:22,416
you have money

2878
00:49:22,416 --> 00:49:22,833
that will

2879
00:49:22,833 --> 00:49:23,750
grow in value

2880
00:49:23,750 --> 00:49:25,833
over time forever,

2881
00:49:25,833 --> 00:49:27,000
you will refer

2882
00:49:27,000 --> 00:49:27,958
from defer

2883
00:49:27,958 --> 00:49:28,708
from spending

2884
00:49:28,708 --> 00:49:30,083
like you will not be.

2885
00:49:30,083 --> 00:49:30,583
As you're

2886
00:49:30,583 --> 00:49:31,541
not incentivized

2887
00:49:31,541 --> 00:49:32,083
to spend

2888
00:49:32,083 --> 00:49:33,458
as much anymore.

2889
00:49:33,458 --> 00:49:33,708
You are

2890
00:49:33,708 --> 00:49:34,666
incentivized to

2891
00:49:34,666 --> 00:49:35,958
to be careful

2892
00:49:35,958 --> 00:49:36,500
with what

2893
00:49:36,500 --> 00:49:36,875
you use

2894
00:49:36,875 --> 00:49:38,166
your bitcoins for

2895
00:49:38,166 --> 00:49:39,750
or your satoshis for.

2896
00:49:39,750 --> 00:49:40,208
So.

2897
00:49:40,208 --> 00:49:41,375
So I think in the end,

2898
00:49:41,375 --> 00:49:42,333
like we'll

2899
00:49:42,333 --> 00:49:43,041
be helping

2900
00:49:43,041 --> 00:49:44,375
each other out,

2901
00:49:44,375 --> 00:49:45,541
a lot more

2902
00:49:45,541 --> 00:49:47,500
and only spent SATs

2903
00:49:47,500 --> 00:49:49,000
like a few

2904
00:49:49,000 --> 00:49:49,708
few times

2905
00:49:49,708 --> 00:49:51,666
per life, maybe.

2906
00:49:51,666 --> 00:49:52,333
So for really

2907
00:49:52,333 --> 00:49:53,333
big things to move

2908
00:49:53,333 --> 00:49:54,333
things around and

2909
00:49:54,333 --> 00:49:55,583
the rest will just be,

2910
00:49:56,750 --> 00:49:58,708
somewhat of a utopian.

2911
00:49:58,708 --> 00:49:59,666
We can all help one

2912
00:49:59,666 --> 00:50:00,833
another really

2913
00:50:00,833 --> 00:50:01,416
get along.

2914
00:50:01,416 --> 00:50:02,291
Value for value.

2915
00:50:02,291 --> 00:50:02,750
Good,

2916
00:50:02,750 --> 00:50:03,416
good stuff

2917
00:50:03,416 --> 00:50:04,416
happening everywhere.

2918
00:50:04,416 --> 00:50:05,250
Like barter system.

2919
00:50:05,250 --> 00:50:06,208
You figure,

2920
00:50:06,208 --> 00:50:07,333
not really barter

2921
00:50:07,333 --> 00:50:07,916
because, like,

2922
00:50:07,916 --> 00:50:08,791
money is important

2923
00:50:08,791 --> 00:50:09,875
for economic

2924
00:50:09,875 --> 00:50:11,375
calculation,

2925
00:50:11,375 --> 00:50:12,583
but we can do that

2926
00:50:12,583 --> 00:50:13,375
like we don't

2927
00:50:13,375 --> 00:50:14,375
really need, like

2928
00:50:14,375 --> 00:50:15,666
if we have trust

2929
00:50:15,666 --> 00:50:16,166
in the base

2930
00:50:16,166 --> 00:50:16,625
layer of

2931
00:50:16,625 --> 00:50:19,625
society, then,

2932
00:50:19,708 --> 00:50:20,500
if you can trust

2933
00:50:20,500 --> 00:50:21,000
other people,

2934
00:50:21,000 --> 00:50:21,708
if you could trust

2935
00:50:21,708 --> 00:50:22,291
other people,

2936
00:50:22,291 --> 00:50:22,625
you wouldn't

2937
00:50:22,625 --> 00:50:23,500
need proof of work

2938
00:50:23,500 --> 00:50:24,333
or any of this decent

2939
00:50:24,333 --> 00:50:25,000
sterilization

2940
00:50:25,000 --> 00:50:25,416
bullshit.

2941
00:50:25,416 --> 00:50:26,833
You could just, like,

2942
00:50:26,833 --> 00:50:27,166
have a

2943
00:50:27,166 --> 00:50:28,541
ginormous spreadsheet

2944
00:50:28,541 --> 00:50:29,541
for everyone on Earth

2945
00:50:29,541 --> 00:50:30,250
and just trust

2946
00:50:30,250 --> 00:50:31,708
someone with it.

2947
00:50:31,708 --> 00:50:32,625
And that doesn't work.

2948
00:50:32,625 --> 00:50:33,375
That's that's

2949
00:50:33,375 --> 00:50:33,833
the system

2950
00:50:33,833 --> 00:50:34,416
we have now.

2951
00:50:34,416 --> 00:50:35,041
And it's always

2952
00:50:35,041 --> 00:50:35,708
been abused

2953
00:50:35,708 --> 00:50:36,708
like, yeah,

2954
00:50:36,708 --> 00:50:37,375
so but

2955
00:50:37,375 --> 00:50:38,291
it would be way

2956
00:50:38,291 --> 00:50:39,083
more convenient

2957
00:50:39,083 --> 00:50:39,750
because we wouldn't

2958
00:50:39,750 --> 00:50:41,208
need all this node

2959
00:50:41,208 --> 00:50:42,250
running and stuff

2960
00:50:42,250 --> 00:50:42,583
then.

2961
00:50:42,583 --> 00:50:43,708
And resource

2962
00:50:43,708 --> 00:50:46,625
consuming stuff now.

2963
00:50:46,625 --> 00:50:47,375
Unfortunately

2964
00:50:47,375 --> 00:50:48,375
we do and that,

2965
00:50:48,375 --> 00:50:49,625
but the irony of that

2966
00:50:49,625 --> 00:50:50,000
is that

2967
00:50:50,000 --> 00:50:50,583
I think that

2968
00:50:50,583 --> 00:50:51,500
at some point

2969
00:50:51,500 --> 00:50:52,125
that this is

2970
00:50:52,125 --> 00:50:53,083
deep stuff

2971
00:50:53,083 --> 00:50:53,791
and way

2972
00:50:53,791 --> 00:50:54,666
ahead in the future.

2973
00:50:54,666 --> 00:50:55,750
But I think

2974
00:50:55,750 --> 00:50:56,666
if we have a base

2975
00:50:56,666 --> 00:50:57,333
layer of trust,

2976
00:50:57,333 --> 00:50:58,666
like the

2977
00:50:58,666 --> 00:50:59,250
there is no

2978
00:50:59,250 --> 00:51:00,166
second best,

2979
00:51:00,166 --> 00:51:01,500
but the second best

2980
00:51:01,500 --> 00:51:01,875
is your

2981
00:51:01,875 --> 00:51:03,041
reputational capital.

2982
00:51:03,041 --> 00:51:03,541
It's like

2983
00:51:03,541 --> 00:51:04,500
how trustworthy

2984
00:51:04,500 --> 00:51:04,833
you are.

2985
00:51:04,833 --> 00:51:05,083
That's

2986
00:51:05,083 --> 00:51:05,833
how you get ahead

2987
00:51:05,833 --> 00:51:06,000
in the

2988
00:51:06,000 --> 00:51:07,083
Bitcoin economy.

2989
00:51:07,083 --> 00:51:07,958
If you have shown

2990
00:51:07,958 --> 00:51:08,916
to be trustworthy

2991
00:51:08,916 --> 00:51:10,083
over a long time,

2992
00:51:10,083 --> 00:51:11,125
then yeah,

2993
00:51:12,125 --> 00:51:12,791
why wouldn't

2994
00:51:12,791 --> 00:51:13,625
people trust you?

2995
00:51:13,625 --> 00:51:14,583
And if they trust you,

2996
00:51:14,583 --> 00:51:15,125
you don't really

2997
00:51:15,125 --> 00:51:15,875
need money.

2998
00:51:15,875 --> 00:51:16,833
You can just keep

2999
00:51:16,833 --> 00:51:17,875
a tab on the other guy

3000
00:51:17,875 --> 00:51:18,875
and have that

3001
00:51:18,875 --> 00:51:20,208
tab forever.

3002
00:51:20,208 --> 00:51:21,000
That's sort of what

3003
00:51:21,000 --> 00:51:21,875
the Lightning Network

3004
00:51:21,875 --> 00:51:23,500
is, by the way.

3005
00:51:23,500 --> 00:51:24,500
In a sense.

3006
00:51:24,500 --> 00:51:25,291
But but it's

3007
00:51:25,291 --> 00:51:26,791
more trustless.

3008
00:51:26,791 --> 00:51:27,333
But still,

3009
00:51:27,333 --> 00:51:27,750
I think

3010
00:51:27,750 --> 00:51:29,416
all these other things

3011
00:51:29,416 --> 00:51:31,000
will develop over time

3012
00:51:31,000 --> 00:51:31,541
that we can't

3013
00:51:31,541 --> 00:51:32,500
even envision now

3014
00:51:32,500 --> 00:51:32,958
because we're

3015
00:51:32,958 --> 00:51:34,041
so entrenched

3016
00:51:34,041 --> 00:51:35,125
in the fiat world.

3017
00:51:35,125 --> 00:51:36,416
And how that works.

3018
00:51:36,416 --> 00:51:37,791
But on a Bitcoin,

3019
00:51:37,791 --> 00:51:38,875
standard, where,

3020
00:51:38,875 --> 00:51:39,375
where you have

3021
00:51:39,375 --> 00:51:39,958
this base

3022
00:51:39,958 --> 00:51:42,083
layer of all,

3023
00:51:42,083 --> 00:51:43,125
all society

3024
00:51:43,125 --> 00:51:44,916
on like all of

3025
00:51:44,916 --> 00:51:46,291
civilizational base

3026
00:51:46,291 --> 00:51:47,583
layer of

3027
00:51:47,583 --> 00:51:48,875
don't trust verify

3028
00:51:48,875 --> 00:51:49,916
that ironically

3029
00:51:49,916 --> 00:51:51,083
leads to yeah,

3030
00:51:51,083 --> 00:51:51,583
you can trust

3031
00:51:51,583 --> 00:51:52,166
everyone now

3032
00:51:52,166 --> 00:51:53,250
because

3033
00:51:53,250 --> 00:51:53,791
we know that

3034
00:51:53,791 --> 00:51:54,208
we're doing

3035
00:51:54,208 --> 00:51:55,083
our verification.

3036
00:51:55,083 --> 00:51:56,416
So we are trustworthy.

3037
00:51:56,416 --> 00:51:56,916
All of us.

3038
00:51:56,916 --> 00:51:58,541
Like that would

3039
00:51:58,541 --> 00:51:59,375
lead to something

3040
00:51:59,375 --> 00:52:00,208
completely different

3041
00:52:00,208 --> 00:52:00,541
to what

3042
00:52:00,541 --> 00:52:01,291
we're living in now.

3043
00:52:01,291 --> 00:52:02,750
Then like,

3044
00:52:02,750 --> 00:52:03,833
I mean, throw them out

3045
00:52:03,833 --> 00:52:05,208
in 50 years, 50

3046
00:52:05,208 --> 00:52:06,166
generations down

3047
00:52:06,166 --> 00:52:06,916
the line. Like,

3048
00:52:08,250 --> 00:52:08,708
what does that

3049
00:52:08,708 --> 00:52:09,375
even look like?

3050
00:52:09,375 --> 00:52:10,541
Like it's impossible

3051
00:52:10,541 --> 00:52:10,833
to wrap

3052
00:52:10,833 --> 00:52:11,541
your head around.

3053
00:52:11,541 --> 00:52:12,458
And I think

3054
00:52:12,458 --> 00:52:15,416
this is such a.

3055
00:52:15,416 --> 00:52:16,708
Monumental shift

3056
00:52:16,708 --> 00:52:17,625
in how human

3057
00:52:17,625 --> 00:52:18,416
beings operate.

3058
00:52:18,416 --> 00:52:19,500
Like, we can't.

3059
00:52:19,500 --> 00:52:20,833
We've only just

3060
00:52:20,833 --> 00:52:21,791
barely scratched

3061
00:52:21,791 --> 00:52:22,833
the surface of what

3062
00:52:22,833 --> 00:52:23,375
this leads

3063
00:52:23,375 --> 00:52:25,708
to, incentive for it

3064
00:52:25,708 --> 00:52:26,458
look wise

3065
00:52:26,458 --> 00:52:27,333
over generations,

3066
00:52:27,333 --> 00:52:28,416
and I can see Lucas

3067
00:52:28,416 --> 00:52:28,958
getting bored

3068
00:52:28,958 --> 00:52:31,250
with my rant here,

3069
00:52:31,250 --> 00:52:33,125
but.

3070
00:52:33,125 --> 00:52:35,416
Yeah.

3071
00:52:35,416 --> 00:52:36,458
I'm pretty sure

3072
00:52:36,458 --> 00:52:36,750
this is

3073
00:52:36,750 --> 00:52:38,708
just your way of,

3074
00:52:38,708 --> 00:52:39,625
of taking a break,

3075
00:52:39,625 --> 00:52:41,166
right? Cuz, see?

3076
00:52:41,166 --> 00:52:42,541
Yeah, maybe it is.

3077
00:52:42,541 --> 00:52:43,416
Maybe. Oh, yeah.

3078
00:52:43,416 --> 00:52:44,416
I should let you in.

3079
00:52:44,416 --> 00:52:44,625
Look,

3080
00:52:44,625 --> 00:52:45,583
I I've been ranting

3081
00:52:45,583 --> 00:52:46,291
for a long time,

3082
00:52:46,291 --> 00:52:47,166
I don't. Yeah, yeah.

3083
00:52:47,166 --> 00:52:47,958
I don't mind you.

3084
00:52:47,958 --> 00:52:48,166
Yeah.

3085
00:52:48,166 --> 00:52:48,958
You're in your element

3086
00:52:48,958 --> 00:52:49,208
today.

3087
00:52:49,208 --> 00:52:50,250
This is, this is nice.

3088
00:52:50,250 --> 00:52:51,916
Oh no, I love it.

3089
00:52:51,916 --> 00:52:53,500
I mean, I, I'm,

3090
00:52:53,500 --> 00:52:54,125
I don't think

3091
00:52:54,125 --> 00:52:55,250
continuing this thread

3092
00:52:55,250 --> 00:52:55,625
like this,

3093
00:52:55,625 --> 00:52:56,416
this has been going,

3094
00:52:56,416 --> 00:52:57,666
going, going,

3095
00:52:57,666 --> 00:52:59,375
we we partially,

3096
00:52:59,375 --> 00:53:00,583
did did the thing

3097
00:53:00,583 --> 00:53:02,125
where like you gave

3098
00:53:02,125 --> 00:53:03,708
your really quick

3099
00:53:03,708 --> 00:53:05,416
tldr, but,

3100
00:53:05,416 --> 00:53:06,291
we didn't dig

3101
00:53:06,291 --> 00:53:07,708
into like cat

3102
00:53:07,708 --> 00:53:08,583
how you got into

3103
00:53:08,583 --> 00:53:09,875
bitcoin and, and like,

3104
00:53:11,125 --> 00:53:12,666
how you, you ended up

3105
00:53:12,666 --> 00:53:13,583
building this,

3106
00:53:13,583 --> 00:53:14,333
this business.

3107
00:53:14,333 --> 00:53:15,625
I'm, I'm interested in

3108
00:53:15,625 --> 00:53:16,458
that side of things.

3109
00:53:16,458 --> 00:53:17,375
So can can you

3110
00:53:17,375 --> 00:53:18,458
go into that

3111
00:53:18,458 --> 00:53:19,125
a little bit.

3112
00:53:19,125 --> 00:53:19,583
How did this

3113
00:53:19,583 --> 00:53:21,375
all start for you.

3114
00:53:21,375 --> 00:53:23,625
Yeah. Finding

3115
00:53:23,625 --> 00:53:24,958
finding bitcoin

3116
00:53:24,958 --> 00:53:26,541
like in 2013

3117
00:53:26,541 --> 00:53:27,333
was was

3118
00:53:27,333 --> 00:53:28,333
was like

3119
00:53:28,333 --> 00:53:28,625
very,

3120
00:53:28,625 --> 00:53:31,250
very interesting.

3121
00:53:31,250 --> 00:53:32,500
And I,

3122
00:53:32,500 --> 00:53:32,916
I didn't

3123
00:53:32,916 --> 00:53:34,500
fully understand it

3124
00:53:34,500 --> 00:53:35,791
for, for years

3125
00:53:35,791 --> 00:53:36,500
probably probably

3126
00:53:36,500 --> 00:53:36,875
still don't

3127
00:53:36,875 --> 00:53:38,625
fully understand it.

3128
00:53:38,625 --> 00:53:39,625
But went down this

3129
00:53:39,625 --> 00:53:40,958
path of kind of

3130
00:53:40,958 --> 00:53:41,791
trying to poke

3131
00:53:41,791 --> 00:53:42,875
holes in Bitcoin

3132
00:53:42,875 --> 00:53:43,291
and then

3133
00:53:43,291 --> 00:53:44,333
and then understanding

3134
00:53:44,333 --> 00:53:45,416
that,

3135
00:53:45,416 --> 00:53:46,916
oh, like

3136
00:53:46,916 --> 00:53:47,541
cryptography

3137
00:53:47,541 --> 00:53:48,000
makes sense.

3138
00:53:48,000 --> 00:53:48,666
Like this.

3139
00:53:48,666 --> 00:53:49,583
And money makes sense

3140
00:53:49,583 --> 00:53:50,208
like this.

3141
00:53:50,208 --> 00:53:50,916
And proof of work

3142
00:53:50,916 --> 00:53:51,416
makes sense.

3143
00:53:51,416 --> 00:53:52,000
Like this.

3144
00:53:52,000 --> 00:53:52,916
And, you know,

3145
00:53:52,916 --> 00:53:53,750
maybe I was lucky

3146
00:53:53,750 --> 00:53:54,291
at the time

3147
00:53:54,291 --> 00:53:55,125
there was no FUD

3148
00:53:55,125 --> 00:53:55,916
around Bitcoin.

3149
00:53:55,916 --> 00:53:56,666
There was no news

3150
00:53:56,666 --> 00:53:57,333
around Bitcoin.

3151
00:53:57,333 --> 00:53:58,333
It was just

3152
00:53:58,333 --> 00:53:59,500
it just existed.

3153
00:53:59,500 --> 00:54:00,500
It was like 100 bucks.

3154
00:54:01,958 --> 00:54:02,916
And it was

3155
00:54:02,916 --> 00:54:04,625
on nobody's radar.

3156
00:54:04,625 --> 00:54:07,833
And then moving into

3157
00:54:08,083 --> 00:54:09,041
buying Bitcoin

3158
00:54:09,041 --> 00:54:10,333
ATMs was my

3159
00:54:10,333 --> 00:54:10,791
what was

3160
00:54:10,791 --> 00:54:12,250
was my first

3161
00:54:12,250 --> 00:54:12,791
venture

3162
00:54:12,791 --> 00:54:13,458
into the space.

3163
00:54:13,458 --> 00:54:14,375
I bought a Bitcoin

3164
00:54:14,375 --> 00:54:15,708
ATM in Alberta.

3165
00:54:15,708 --> 00:54:16,291
We were the

3166
00:54:16,291 --> 00:54:18,166
first one in Alberta,

3167
00:54:18,166 --> 00:54:18,958
which was cool or like

3168
00:54:18,958 --> 00:54:19,625
I think the second

3169
00:54:19,625 --> 00:54:20,166
or the third

3170
00:54:20,166 --> 00:54:22,208
in Canada.

3171
00:54:22,208 --> 00:54:23,250
For, you know,

3172
00:54:23,250 --> 00:54:23,791
one of the first

3173
00:54:23,791 --> 00:54:24,458
in the world.

3174
00:54:24,458 --> 00:54:25,500
And that was awesome.

3175
00:54:25,500 --> 00:54:26,916
And so we,

3176
00:54:26,916 --> 00:54:27,625
we built this

3177
00:54:27,625 --> 00:54:28,750
ATM or we,

3178
00:54:28,750 --> 00:54:29,250
we bought this

3179
00:54:29,250 --> 00:54:30,166
ATM, deployed

3180
00:54:30,166 --> 00:54:31,291
it, started operating

3181
00:54:31,291 --> 00:54:32,708
it, bought some more,

3182
00:54:32,708 --> 00:54:35,041
bought some more.

3183
00:54:35,041 --> 00:54:35,583
And then before

3184
00:54:35,583 --> 00:54:37,583
we knew it, we had,

3185
00:54:37,583 --> 00:54:38,041
you know, whatever

3186
00:54:38,041 --> 00:54:38,916
20 ATMs

3187
00:54:38,916 --> 00:54:39,333
or whatever

3188
00:54:39,333 --> 00:54:40,291
around, around

3189
00:54:40,291 --> 00:54:41,916
Western Canada.

3190
00:54:41,916 --> 00:54:44,916
But in that process,

3191
00:54:45,583 --> 00:54:46,791
the like, you know,

3192
00:54:46,791 --> 00:54:47,500
the meme, it's like,

3193
00:54:47,500 --> 00:54:49,875
what radicalized you?

3194
00:54:49,875 --> 00:54:51,000
It was this process

3195
00:54:51,000 --> 00:54:52,208
here of

3196
00:54:52,208 --> 00:54:54,000
of actually losing,

3197
00:54:54,000 --> 00:54:54,750
bank accounts.

3198
00:54:54,750 --> 00:54:56,500
So I am like,

3199
00:54:56,500 --> 00:54:57,416
I'm the most d

3200
00:54:57,416 --> 00:54:58,208
banged man

3201
00:54:58,208 --> 00:54:59,583
in the country.

3202
00:54:59,583 --> 00:55:00,375
I've been banned

3203
00:55:00,375 --> 00:55:01,125
from every single

3204
00:55:01,125 --> 00:55:02,708
major bank in Canada.

3205
00:55:02,708 --> 00:55:03,416
I have been banned

3206
00:55:03,416 --> 00:55:04,333
from most credit

3207
00:55:04,333 --> 00:55:06,000
unions in Alberta.

3208
00:55:06,000 --> 00:55:07,833
And respect that.

3209
00:55:07,833 --> 00:55:08,166
I think,

3210
00:55:10,250 --> 00:55:13,250
and it's, it's,

3211
00:55:13,458 --> 00:55:13,833
it was

3212
00:55:13,833 --> 00:55:15,041
through that process,

3213
00:55:15,041 --> 00:55:15,375
which was a

3214
00:55:15,375 --> 00:55:16,583
couple years

3215
00:55:16,583 --> 00:55:18,041
where I realized

3216
00:55:18,041 --> 00:55:19,750
my actions are always

3217
00:55:19,750 --> 00:55:20,958
is subject

3218
00:55:20,958 --> 00:55:21,958
to the regime,

3219
00:55:21,958 --> 00:55:22,958
my participation

3220
00:55:22,958 --> 00:55:24,041
in the regime,

3221
00:55:24,041 --> 00:55:24,750
and probably

3222
00:55:24,750 --> 00:55:26,333
my political views.

3223
00:55:26,333 --> 00:55:27,666
And that proved, again

3224
00:55:27,666 --> 00:55:29,208
to be true throughout,

3225
00:55:29,208 --> 00:55:30,208
you know, Covid

3226
00:55:30,208 --> 00:55:31,541
and and the

3227
00:55:31,541 --> 00:55:32,875
the horrific ness

3228
00:55:32,875 --> 00:55:33,333
that happened

3229
00:55:33,333 --> 00:55:35,791
here in Canada.

3230
00:55:35,791 --> 00:55:37,291
And so moving

3231
00:55:37,291 --> 00:55:38,333
through this

3232
00:55:38,333 --> 00:55:40,625
process of,

3233
00:55:40,625 --> 00:55:41,708
of, you know,

3234
00:55:41,708 --> 00:55:42,125
having a

3235
00:55:42,125 --> 00:55:43,083
Bitcoin business

3236
00:55:43,083 --> 00:55:43,875
and then being

3237
00:55:43,875 --> 00:55:44,833
basically banished

3238
00:55:44,833 --> 00:55:45,083
from the

3239
00:55:45,083 --> 00:55:46,541
financial system

3240
00:55:46,541 --> 00:55:48,125
that exists today,

3241
00:55:48,125 --> 00:55:48,666
still having

3242
00:55:48,666 --> 00:55:49,833
to pay taxes,

3243
00:55:49,833 --> 00:55:50,041
there's

3244
00:55:50,041 --> 00:55:50,583
this hilarious

3245
00:55:50,583 --> 00:55:52,375
instance.

3246
00:55:52,375 --> 00:55:53,000
So the

3247
00:55:53,000 --> 00:55:54,166
provincial government

3248
00:55:54,166 --> 00:55:54,875
and the federal

3249
00:55:54,875 --> 00:55:55,416
government

3250
00:55:55,416 --> 00:55:56,166
do not allow you

3251
00:55:56,166 --> 00:55:56,916
to pay your taxes

3252
00:55:56,916 --> 00:55:57,958
in cash.

3253
00:55:57,958 --> 00:55:58,875
But I had

3254
00:55:58,875 --> 00:56:00,458
no bank account.

3255
00:56:00,458 --> 00:56:01,500
And so

3256
00:56:01,500 --> 00:56:03,125
they were sending me

3257
00:56:03,125 --> 00:56:03,916
late notice.

3258
00:56:03,916 --> 00:56:05,041
And I was like

3259
00:56:05,041 --> 00:56:05,750
at a loss.

3260
00:56:05,750 --> 00:56:06,250
I was like,

3261
00:56:06,250 --> 00:56:07,041
look,

3262
00:56:07,041 --> 00:56:07,708
happy to pay

3263
00:56:07,708 --> 00:56:08,958
you taxes,

3264
00:56:08,958 --> 00:56:10,750
but like,

3265
00:56:10,750 --> 00:56:11,166
give me a

3266
00:56:11,166 --> 00:56:12,375
bank account.

3267
00:56:12,375 --> 00:56:14,416
Like I said.

3268
00:56:14,416 --> 00:56:14,875
A bank

3269
00:56:14,875 --> 00:56:15,958
account is really

3270
00:56:15,958 --> 00:56:16,958
just a

3271
00:56:16,958 --> 00:56:17,666
two out of three

3272
00:56:17,666 --> 00:56:18,875
multi-sig between you,

3273
00:56:18,875 --> 00:56:19,291
the bank

3274
00:56:19,291 --> 00:56:20,125
and the government,

3275
00:56:20,125 --> 00:56:21,541
100%, 100%.

3276
00:56:21,541 --> 00:56:22,583
And and two out of

3277
00:56:22,583 --> 00:56:23,833
those are in bed

3278
00:56:23,833 --> 00:56:24,583
with one another.

3279
00:56:24,583 --> 00:56:26,041
I mean, the bankers,

3280
00:56:26,041 --> 00:56:26,708
occasionally

3281
00:56:26,708 --> 00:56:28,291
give Justin Castrol

3282
00:56:28,291 --> 00:56:29,666
casual blowjobs, but.

3283
00:56:29,666 --> 00:56:30,333
Yes, but

3284
00:56:30,333 --> 00:56:31,291
you do not like

3285
00:56:31,291 --> 00:56:32,208
and therefore you like

3286
00:56:32,208 --> 00:56:33,208
the no.

3287
00:56:33,208 --> 00:56:34,083
It's a great way

3288
00:56:34,083 --> 00:56:34,625
to explain it.

3289
00:56:34,625 --> 00:56:35,791
A two of three

3290
00:56:35,791 --> 00:56:36,541
with you,

3291
00:56:36,541 --> 00:56:36,916
the bank

3292
00:56:36,916 --> 00:56:37,375
and the government.

3293
00:56:37,375 --> 00:56:38,750
That is 100%

3294
00:56:38,750 --> 00:56:39,541
what it is.

3295
00:56:39,541 --> 00:56:40,875
And so so

3296
00:56:40,875 --> 00:56:41,500
yeah, there was,

3297
00:56:41,500 --> 00:56:42,666
there was yeah.

3298
00:56:42,666 --> 00:56:43,416
I had to like,

3299
00:56:43,416 --> 00:56:44,125
pay my taxes

3300
00:56:44,125 --> 00:56:45,416
in cash and,

3301
00:56:45,416 --> 00:56:45,875
I had to

3302
00:56:45,875 --> 00:56:46,416
arrange this

3303
00:56:46,416 --> 00:56:47,166
big ordeal

3304
00:56:47,166 --> 00:56:48,125
and, and go to the,

3305
00:56:48,125 --> 00:56:48,500
go to the,

3306
00:56:48,500 --> 00:56:49,416
build the building

3307
00:56:49,416 --> 00:56:50,208
and do all that.

3308
00:56:50,208 --> 00:56:51,750
It was, it was,

3309
00:56:51,750 --> 00:56:53,041
it was brutal.

3310
00:56:53,041 --> 00:56:54,916
And, so it was

3311
00:56:54,916 --> 00:56:55,666
it was through

3312
00:56:55,666 --> 00:56:56,541
this process

3313
00:56:56,541 --> 00:56:56,958
that I kind

3314
00:56:56,958 --> 00:56:57,833
of realized

3315
00:56:57,833 --> 00:56:58,541
how important

3316
00:56:58,541 --> 00:56:59,583
Self-custody is.

3317
00:56:59,583 --> 00:57:00,125
And, you know,

3318
00:57:00,125 --> 00:57:00,791
the the,

3319
00:57:00,791 --> 00:57:01,291
the nature

3320
00:57:01,291 --> 00:57:02,250
of Bitcoin ATMs,

3321
00:57:02,250 --> 00:57:02,791
of course, is

3322
00:57:02,791 --> 00:57:03,541
just already

3323
00:57:03,541 --> 00:57:04,625
self-custody focused.

3324
00:57:04,625 --> 00:57:04,833
But,

3325
00:57:06,750 --> 00:57:07,625
understanding the

3326
00:57:07,625 --> 00:57:09,666
importance of needing,

3327
00:57:09,666 --> 00:57:10,416
like I

3328
00:57:10,416 --> 00:57:11,625
uniquely need

3329
00:57:11,625 --> 00:57:12,541
to interact

3330
00:57:12,541 --> 00:57:13,875
with the fiat system.

3331
00:57:13,875 --> 00:57:14,458
Cannot buy

3332
00:57:14,458 --> 00:57:15,291
a house in cash.

3333
00:57:15,291 --> 00:57:15,750
You cannot buy a

3334
00:57:15,750 --> 00:57:16,583
car in cash.

3335
00:57:16,583 --> 00:57:16,833
You cannot

3336
00:57:16,833 --> 00:57:17,458
pay your taxes

3337
00:57:17,458 --> 00:57:18,416
in cash.

3338
00:57:18,416 --> 00:57:18,958
Frankly,

3339
00:57:18,958 --> 00:57:19,666
I can barely

3340
00:57:19,666 --> 00:57:20,416
go down the street

3341
00:57:20,416 --> 00:57:22,583
and buy a sandwich

3342
00:57:22,583 --> 00:57:24,000
with cash.

3343
00:57:24,000 --> 00:57:26,291
And so having that,

3344
00:57:26,291 --> 00:57:27,583
you know, work

3345
00:57:27,583 --> 00:57:29,250
not in my favor

3346
00:57:29,250 --> 00:57:31,458
led me to building

3347
00:57:31,458 --> 00:57:32,166
what is now

3348
00:57:32,166 --> 00:57:33,333
Bitcoin well,

3349
00:57:33,333 --> 00:57:34,666
which is

3350
00:57:34,666 --> 00:57:35,125
effectively

3351
00:57:35,125 --> 00:57:36,250
the conduit between

3352
00:57:36,250 --> 00:57:36,666
Bitcoin

3353
00:57:36,666 --> 00:57:38,041
and Self-custody

3354
00:57:38,041 --> 00:57:39,208
and the

3355
00:57:39,208 --> 00:57:39,916
the legacy

3356
00:57:39,916 --> 00:57:40,708
financial system

3357
00:57:40,708 --> 00:57:41,250
for as long

3358
00:57:41,250 --> 00:57:42,583
as it's going to last.

3359
00:57:42,583 --> 00:57:45,000
And I think that it's

3360
00:57:45,000 --> 00:57:45,416
yeah, it's

3361
00:57:45,416 --> 00:57:46,208
been a fun journey.

3362
00:57:46,208 --> 00:57:46,708
Like lots

3363
00:57:46,708 --> 00:57:47,166
of learnings.

3364
00:57:47,166 --> 00:57:47,625
I mean, even

3365
00:57:47,625 --> 00:57:49,833
now we've got

3366
00:57:49,833 --> 00:57:50,375
we've got an

3367
00:57:50,375 --> 00:57:51,750
error internally.

3368
00:57:51,750 --> 00:57:52,583
So what happens

3369
00:57:52,583 --> 00:57:53,416
is in Canada,

3370
00:57:53,416 --> 00:57:54,125
as I'm sure

3371
00:57:54,125 --> 00:57:55,375
you remember

3372
00:57:55,375 --> 00:57:56,625
the E-transfer system,

3373
00:57:56,625 --> 00:57:57,125
you log into

3374
00:57:57,125 --> 00:57:57,625
your bank,

3375
00:57:57,625 --> 00:57:58,958
you can send,

3376
00:57:58,958 --> 00:57:59,916
a transfer

3377
00:57:59,916 --> 00:58:00,541
through this

3378
00:58:00,541 --> 00:58:01,625
centralized system

3379
00:58:01,625 --> 00:58:02,583
called Interac,

3380
00:58:02,583 --> 00:58:03,041
and it goes

3381
00:58:03,041 --> 00:58:03,958
from bank to bank

3382
00:58:03,958 --> 00:58:05,375
anywhere in Canada.

3383
00:58:05,375 --> 00:58:06,250
And we use this.

3384
00:58:06,250 --> 00:58:06,625
So you,

3385
00:58:06,625 --> 00:58:06,958
you know,

3386
00:58:06,958 --> 00:58:08,333
our customers log in,

3387
00:58:08,333 --> 00:58:08,791
send us

3388
00:58:08,791 --> 00:58:10,208
an Iraqi transfer

3389
00:58:10,208 --> 00:58:10,500
and then

3390
00:58:10,500 --> 00:58:11,750
we send them Bitcoin.

3391
00:58:11,750 --> 00:58:12,416
But the banks

3392
00:58:12,416 --> 00:58:12,708
have started

3393
00:58:12,708 --> 00:58:13,458
blocking

3394
00:58:13,458 --> 00:58:14,583
Interac transfers

3395
00:58:14,583 --> 00:58:15,750
to us.

3396
00:58:15,750 --> 00:58:16,333
One of my friends,

3397
00:58:16,333 --> 00:58:16,875
Saxony,

3398
00:58:16,875 --> 00:58:18,166
signed his mom up

3399
00:58:18,166 --> 00:58:19,083
and he's like, hey,

3400
00:58:19,083 --> 00:58:19,500
it says the

3401
00:58:19,500 --> 00:58:20,625
the contact

3402
00:58:20,625 --> 00:58:21,541
denied

3403
00:58:21,541 --> 00:58:22,500
the transaction.

3404
00:58:22,500 --> 00:58:22,791
What are you

3405
00:58:22,791 --> 00:58:23,791
guys doing now?

3406
00:58:23,791 --> 00:58:24,416
I was like, nah,

3407
00:58:24,416 --> 00:58:25,166
the bank block.

3408
00:58:25,166 --> 00:58:25,333
He's like,

3409
00:58:25,333 --> 00:58:25,750
no, no, no, no.

3410
00:58:25,750 --> 00:58:26,916
I called the bank.

3411
00:58:26,916 --> 00:58:27,500
They said

3412
00:58:27,500 --> 00:58:28,416
they denied it.

3413
00:58:28,416 --> 00:58:29,291
And or

3414
00:58:29,291 --> 00:58:29,791
they said that

3415
00:58:29,791 --> 00:58:30,916
you declined it.

3416
00:58:30,916 --> 00:58:32,333
And I was like, look,

3417
00:58:32,333 --> 00:58:33,875
if you have the time,

3418
00:58:33,875 --> 00:58:34,416
go through

3419
00:58:34,416 --> 00:58:35,083
this process

3420
00:58:35,083 --> 00:58:35,791
with them.

3421
00:58:35,791 --> 00:58:36,125
Here's

3422
00:58:36,125 --> 00:58:37,416
the questions to ask.

3423
00:58:37,416 --> 00:58:37,791
Here's

3424
00:58:37,791 --> 00:58:38,375
the things you have

3425
00:58:38,375 --> 00:58:39,416
to push on

3426
00:58:39,416 --> 00:58:39,958
and tell me

3427
00:58:39,958 --> 00:58:40,708
what the answer is.

3428
00:58:40,708 --> 00:58:41,791
At the other side,

3429
00:58:41,791 --> 00:58:42,375
he goes through

3430
00:58:42,375 --> 00:58:43,833
five different people,

3431
00:58:43,833 --> 00:58:44,875
two hours

3432
00:58:44,875 --> 00:58:45,958
on the phone,

3433
00:58:45,958 --> 00:58:46,625
and he says

3434
00:58:46,625 --> 00:58:47,791
at the end of it

3435
00:58:47,791 --> 00:58:48,208
they said,

3436
00:58:48,208 --> 00:58:49,083
oh yeah,

3437
00:58:49,083 --> 00:58:50,583
we actually did

3438
00:58:50,583 --> 00:58:51,083
prevent

3439
00:58:51,083 --> 00:58:51,916
this transaction

3440
00:58:51,916 --> 00:58:52,708
from going through.

3441
00:58:52,708 --> 00:58:54,875
We were lying to you.

3442
00:58:54,875 --> 00:58:55,666
But this is for

3443
00:58:55,666 --> 00:58:57,208
your protection.

3444
00:58:57,208 --> 00:58:59,541
And it is shocking.

3445
00:58:59,541 --> 00:59:00,750
The,

3446
00:59:00,750 --> 00:59:01,500
the attitude

3447
00:59:01,500 --> 00:59:01,708
that the

3448
00:59:01,708 --> 00:59:02,416
banking system

3449
00:59:02,416 --> 00:59:03,541
has towards Bitcoin.

3450
00:59:03,541 --> 00:59:04,291
And so anyways,

3451
00:59:04,291 --> 00:59:05,291
back to the error.

3452
00:59:05,291 --> 00:59:06,125
Internally

3453
00:59:06,125 --> 00:59:07,083
we have an error

3454
00:59:07,083 --> 00:59:07,583
that's called

3455
00:59:07,583 --> 00:59:08,375
fuck your bank.

3456
00:59:09,583 --> 00:59:10,416
And that's, that's the

3457
00:59:10,416 --> 00:59:11,541
internal code for it.

3458
00:59:11,541 --> 00:59:12,291
And when there's

3459
00:59:12,291 --> 00:59:12,583
a, there's

3460
00:59:12,583 --> 00:59:13,416
a certain code

3461
00:59:13,416 --> 00:59:15,166
that happens

3462
00:59:15,166 --> 00:59:15,916
the majority

3463
00:59:15,916 --> 00:59:17,416
of the time when,

3464
00:59:17,416 --> 00:59:18,458
when a bank blocks

3465
00:59:18,458 --> 00:59:19,208
our transaction

3466
00:59:19,208 --> 00:59:20,125
and we have to send

3467
00:59:20,125 --> 00:59:21,000
an email

3468
00:59:21,000 --> 00:59:22,000
with, like,

3469
00:59:22,000 --> 00:59:23,375
alternative ways to,

3470
00:59:23,375 --> 00:59:24,541
to buy Bitcoin.

3471
00:59:24,541 --> 00:59:24,875
We're a

3472
00:59:24,875 --> 00:59:25,625
legal business.

3473
00:59:25,625 --> 00:59:26,958
We're publicly traded

3474
00:59:26,958 --> 00:59:27,708
in Canada

3475
00:59:27,708 --> 00:59:29,375
and in the USA.

3476
00:59:29,375 --> 00:59:31,333
We pay our taxes,

3477
00:59:31,333 --> 00:59:32,875
and yet we cannot have

3478
00:59:32,875 --> 00:59:33,458
a customer

3479
00:59:33,458 --> 00:59:35,708
send us 100 bucks,

3480
00:59:35,708 --> 00:59:37,833
because we're Bitcoin

3481
00:59:37,833 --> 00:59:40,000
and it's,

3482
00:59:40,000 --> 00:59:40,833
this is again,

3483
00:59:40,833 --> 00:59:41,166
this is the

3484
00:59:41,166 --> 00:59:41,958
Cobra effect

3485
00:59:41,958 --> 00:59:43,083
playing out.

3486
00:59:43,083 --> 00:59:45,166
And

3487
00:59:45,166 --> 00:59:46,416
they hide behind

3488
00:59:46,416 --> 00:59:47,166
the guys

3489
00:59:47,166 --> 00:59:48,083
that there's fraud

3490
00:59:48,083 --> 00:59:49,291
in our industry,

3491
00:59:49,291 --> 00:59:50,250
which is true.

3492
00:59:50,250 --> 00:59:51,000
There is fraud

3493
00:59:51,000 --> 00:59:52,083
in our industry

3494
00:59:52,083 --> 00:59:53,500
having non

3495
00:59:53,500 --> 00:59:55,833
undoable money

3496
00:59:55,833 --> 00:59:56,708
is a is a

3497
00:59:56,708 --> 00:59:57,708
haven for fraud.

3498
00:59:57,708 --> 00:59:58,375
For fraud

3499
00:59:58,375 --> 00:59:59,166
with stupid people.

3500
00:59:59,166 --> 01:00:00,250
There's a

3501
01:00:00,250 --> 01:00:00,541
there's

3502
01:00:00,541 --> 01:00:01,500
a lot of people

3503
01:00:01,500 --> 01:00:01,958
that are going

3504
01:00:01,958 --> 01:00:03,708
to be scammed

3505
01:00:03,708 --> 01:00:04,333
that have just

3506
01:00:04,333 --> 01:00:05,083
blindly been

3507
01:00:05,083 --> 01:00:05,583
trusting

3508
01:00:05,583 --> 01:00:06,500
the fiat system

3509
01:00:06,500 --> 01:00:07,500
to protect them

3510
01:00:07,500 --> 01:00:07,916
and that

3511
01:00:07,916 --> 01:00:09,166
protection is gone.

3512
01:00:09,166 --> 01:00:09,958
And so,

3513
01:00:11,041 --> 01:00:11,833
there is going to

3514
01:00:11,833 --> 01:00:12,416
be a turbulent

3515
01:00:12,416 --> 01:00:13,291
window of time here

3516
01:00:13,291 --> 01:00:13,416
where

3517
01:00:13,416 --> 01:00:14,083
lots of people

3518
01:00:14,083 --> 01:00:14,916
get scammed.

3519
01:00:14,916 --> 01:00:16,833
But

3520
01:00:16,833 --> 01:00:18,125
the

3521
01:00:18,125 --> 01:00:18,791
the response

3522
01:00:18,791 --> 01:00:19,125
is not

3523
01:00:19,125 --> 01:00:20,916
more governance.

3524
01:00:20,916 --> 01:00:21,541
The governance

3525
01:00:21,541 --> 01:00:23,458
created this problem.

3526
01:00:23,458 --> 01:00:24,291
If we think that

3527
01:00:24,291 --> 01:00:25,041
the bureaucrats

3528
01:00:25,041 --> 01:00:25,666
are ever going

3529
01:00:25,666 --> 01:00:26,750
to be smarter

3530
01:00:26,750 --> 01:00:28,500
than the tiny free

3531
01:00:28,500 --> 01:00:29,500
market scammers

3532
01:00:29,500 --> 01:00:30,458
who have no morals

3533
01:00:30,458 --> 01:00:31,375
and no laws,

3534
01:00:31,375 --> 01:00:32,416
like we're lying.

3535
01:00:32,416 --> 01:00:32,708
I mean,

3536
01:00:32,708 --> 01:00:33,708
it's showing up to a

3537
01:00:33,708 --> 01:00:34,625
to a gunfight

3538
01:00:34,625 --> 01:00:35,250
with a knife.

3539
01:00:35,250 --> 01:00:36,000
You don't have

3540
01:00:36,000 --> 01:00:37,208
the same tools

3541
01:00:37,208 --> 01:00:38,791
and so yeah.

3542
01:00:38,791 --> 01:00:39,208
Anyways,

3543
01:00:39,208 --> 01:00:40,208
all that to say

3544
01:00:40,208 --> 01:00:40,833
Bitcoin.

3545
01:00:40,833 --> 01:00:42,125
Well,

3546
01:00:42,125 --> 01:00:43,125
is that conduit

3547
01:00:43,125 --> 01:00:44,750
from self-custody

3548
01:00:44,750 --> 01:00:46,833
to fiat land.

3549
01:00:46,833 --> 01:00:47,666
Because we still

3550
01:00:47,666 --> 01:00:48,375
need to live

3551
01:00:48,375 --> 01:00:50,125
in, in fiat land.

3552
01:00:50,125 --> 01:00:51,333
We have this other.

3553
01:00:51,333 --> 01:00:51,666
I'm just on

3554
01:00:51,666 --> 01:00:52,291
stories now.

3555
01:00:52,291 --> 01:00:53,291
But you go ahead

3556
01:00:53,291 --> 01:00:54,250
if you've got.

3557
01:00:54,250 --> 01:00:54,541
No.

3558
01:00:54,541 --> 01:00:55,458
I just think

3559
01:00:55,458 --> 01:00:56,500
of the analogy like

3560
01:00:56,500 --> 01:00:57,375
with the bureaucrats

3561
01:00:57,375 --> 01:00:58,916
being more like,

3562
01:00:58,916 --> 01:00:59,666
you're going

3563
01:00:59,666 --> 01:01:00,750
into a nuclear war

3564
01:01:00,750 --> 01:01:02,458
with a spork.

3565
01:01:02,458 --> 01:01:03,541
Literally,

3566
01:01:03,541 --> 01:01:05,000
literally like you've

3567
01:01:05,000 --> 01:01:06,041
got a close

3568
01:01:06,041 --> 01:01:08,208
range weapon in,

3569
01:01:08,208 --> 01:01:09,166
in a global

3570
01:01:09,166 --> 01:01:09,916
battle, like,

3571
01:01:09,916 --> 01:01:10,375
what are you

3572
01:01:10,375 --> 01:01:11,166
going to be doing?

3573
01:01:12,666 --> 01:01:13,250
That was this

3574
01:01:13,250 --> 01:01:15,208
one instance.

3575
01:01:15,208 --> 01:01:16,083
And this goes to show

3576
01:01:16,083 --> 01:01:16,791
you just how

3577
01:01:16,791 --> 01:01:17,791
either uninformed

3578
01:01:17,791 --> 01:01:18,375
or malicious

3579
01:01:18,375 --> 01:01:19,916
this whole system is.

3580
01:01:19,916 --> 01:01:20,458
My wife need

3581
01:01:20,458 --> 01:01:21,125
a new vehicle.

3582
01:01:21,125 --> 01:01:22,333
We have another kid to

3583
01:01:22,333 --> 01:01:22,791
go to the car

3584
01:01:22,791 --> 01:01:23,333
dealership.

3585
01:01:23,333 --> 01:01:23,750
We pick up

3586
01:01:23,750 --> 01:01:24,750
the right one.

3587
01:01:24,750 --> 01:01:25,583
All right. Great.

3588
01:01:25,583 --> 01:01:26,458
I tell them, look,

3589
01:01:26,458 --> 01:01:28,208
I'm paying in cash.

3590
01:01:28,208 --> 01:01:28,791
They're like,

3591
01:01:28,791 --> 01:01:29,916
no problem.

3592
01:01:29,916 --> 01:01:30,125
You sure

3593
01:01:30,125 --> 01:01:30,416
you don't want

3594
01:01:30,416 --> 01:01:31,416
to finance it?

3595
01:01:31,416 --> 01:01:31,708
I don't want

3596
01:01:31,708 --> 01:01:32,416
to finance it.

3597
01:01:32,416 --> 01:01:33,666
I'm paying in cash.

3598
01:01:33,666 --> 01:01:35,250
Okay. Let's go.

3599
01:01:35,250 --> 01:01:37,000
So we order the car.

3600
01:01:37,000 --> 01:01:38,625
They may deposit in

3601
01:01:38,625 --> 01:01:39,416
like cash,

3602
01:01:39,416 --> 01:01:40,041
like in,

3603
01:01:40,041 --> 01:01:41,541
in dollar bills.

3604
01:01:41,541 --> 01:01:42,541
And then,

3605
01:01:42,541 --> 01:01:43,166
a few weeks later,

3606
01:01:43,166 --> 01:01:43,958
the car shows up.

3607
01:01:43,958 --> 01:01:44,625
We go to pick it up,

3608
01:01:44,625 --> 01:01:45,750
I got my backpack,

3609
01:01:45,750 --> 01:01:46,416
and I'm like,

3610
01:01:46,416 --> 01:01:47,041
all right.

3611
01:01:47,041 --> 01:01:47,458
They're like, what?

3612
01:01:47,458 --> 01:01:48,083
Let's pay.

3613
01:01:48,083 --> 01:01:49,333
I got my backpack

3614
01:01:49,333 --> 01:01:49,791
and like, whoa,

3615
01:01:49,791 --> 01:01:50,291
whoa, whoa,

3616
01:01:50,291 --> 01:01:51,083
what are you doing

3617
01:01:51,083 --> 01:01:51,250
now?

3618
01:01:51,250 --> 01:01:52,291
I was like,

3619
01:01:52,291 --> 01:01:53,666
pay in cash.

3620
01:01:53,666 --> 01:01:54,166
And they're like,

3621
01:01:54,166 --> 01:01:55,416
whoa.

3622
01:01:55,416 --> 01:01:55,833
Well,

3623
01:01:55,833 --> 01:01:56,250
we thought you

3624
01:01:56,250 --> 01:01:57,333
meant a check.

3625
01:01:57,333 --> 01:01:58,916
That was like, what?

3626
01:01:58,916 --> 01:01:59,875
I said check.

3627
01:01:59,875 --> 01:02:01,083
If I meant check,

3628
01:02:01,083 --> 01:02:01,916
I said cash,

3629
01:02:02,958 --> 01:02:03,833
and I paid you in

3630
01:02:03,833 --> 01:02:05,083
cash for the deposit.

3631
01:02:05,083 --> 01:02:05,416
They're like,

3632
01:02:05,416 --> 01:02:06,416
okay, well,

3633
01:02:06,416 --> 01:02:07,416
we have to take this

3634
01:02:07,416 --> 01:02:07,916
cash,

3635
01:02:07,916 --> 01:02:09,000
give it to the police.

3636
01:02:09,000 --> 01:02:09,750
The police will

3637
01:02:09,750 --> 01:02:10,500
investigate it

3638
01:02:10,500 --> 01:02:12,083
for ten business days

3639
01:02:12,083 --> 01:02:13,291
and then once it's

3640
01:02:13,291 --> 01:02:14,791
clean, we'll give it,

3641
01:02:14,791 --> 01:02:15,083
you know,

3642
01:02:15,083 --> 01:02:15,625
then you can come

3643
01:02:15,625 --> 01:02:16,916
pick up the car.

3644
01:02:16,916 --> 01:02:17,416
And I was like,

3645
01:02:17,416 --> 01:02:17,833
no, no, no no

3646
01:02:17,833 --> 01:02:18,791
no, no, no,

3647
01:02:18,791 --> 01:02:20,333
there's no way.

3648
01:02:20,333 --> 01:02:21,541
And by the way,

3649
01:02:21,541 --> 01:02:22,291
previously to that

3650
01:02:22,291 --> 01:02:23,583
the police had seized

3651
01:02:23,583 --> 01:02:24,875
about $10,000

3652
01:02:24,875 --> 01:02:25,708
from one of

3653
01:02:25,708 --> 01:02:26,875
our Bitcoin ATMs.

3654
01:02:26,875 --> 01:02:27,333
But I spent

3655
01:02:27,333 --> 01:02:27,833
two and a half

3656
01:02:27,833 --> 01:02:28,583
years in court

3657
01:02:28,583 --> 01:02:29,166
fighting them

3658
01:02:29,166 --> 01:02:30,208
to get back.

3659
01:02:30,208 --> 01:02:31,583
And so this is

3660
01:02:31,583 --> 01:02:31,875
this is

3661
01:02:31,875 --> 01:02:32,541
I think

3662
01:02:32,541 --> 01:02:33,125
this is only 5

3663
01:02:33,125 --> 01:02:34,083
or 6 months

3664
01:02:34,083 --> 01:02:35,083
after

3665
01:02:35,083 --> 01:02:35,666
the police

3666
01:02:35,666 --> 01:02:36,250
had seized that.

3667
01:02:36,250 --> 01:02:36,916
So I'm

3668
01:02:36,916 --> 01:02:37,625
I'm hyper

3669
01:02:37,625 --> 01:02:38,916
hyper skeptical

3670
01:02:38,916 --> 01:02:40,666
of, of this.

3671
01:02:40,666 --> 01:02:42,000
And so obviously

3672
01:02:42,000 --> 01:02:42,750
I said no.

3673
01:02:42,750 --> 01:02:43,500
And then, you know,

3674
01:02:43,500 --> 01:02:43,916
we just had

3675
01:02:43,916 --> 01:02:44,333
to work out

3676
01:02:44,333 --> 01:02:45,333
other other,

3677
01:02:45,333 --> 01:02:46,000
other systems.

3678
01:02:46,000 --> 01:02:47,250
But it is

3679
01:02:47,250 --> 01:02:48,708
it is shocking

3680
01:02:48,708 --> 01:02:50,166
how the system works

3681
01:02:50,166 --> 01:02:51,875
in this way.

3682
01:02:51,875 --> 01:02:52,208
No.

3683
01:02:52,208 --> 01:02:53,291
And I know

3684
01:02:53,291 --> 01:02:54,125
like I needed

3685
01:02:54,125 --> 01:02:56,000
to, to withdraw,

3686
01:02:56,000 --> 01:02:57,250
a large amount of cash

3687
01:02:57,250 --> 01:02:58,208
from a bank account

3688
01:02:58,208 --> 01:03:00,291
here in, in, you know,

3689
01:03:01,625 --> 01:03:02,708
connected to,

3690
01:03:02,708 --> 01:03:03,750
to my house.

3691
01:03:03,750 --> 01:03:04,708
The let,

3692
01:03:04,708 --> 01:03:05,625
let's just say that

3693
01:03:05,625 --> 01:03:06,125
and not go

3694
01:03:06,125 --> 01:03:06,875
into details,

3695
01:03:06,875 --> 01:03:07,708
but I needed

3696
01:03:07,708 --> 01:03:08,958
some of my money.

3697
01:03:08,958 --> 01:03:10,166
That's the point.

3698
01:03:10,166 --> 01:03:11,500
Now the bank asks me

3699
01:03:11,500 --> 01:03:12,000
what I need

3700
01:03:12,000 --> 01:03:13,291
the money for,

3701
01:03:13,291 --> 01:03:13,916
and I'm like,

3702
01:03:13,916 --> 01:03:14,541
what the fuck

3703
01:03:14,541 --> 01:03:15,000
do you need

3704
01:03:15,000 --> 01:03:15,541
the money for?

3705
01:03:15,541 --> 01:03:16,541
It's my money.

3706
01:03:16,541 --> 01:03:17,625
Yeah,

3707
01:03:17,625 --> 01:03:18,750
I'm the paying you

3708
01:03:18,750 --> 01:03:19,416
to store it

3709
01:03:19,416 --> 01:03:20,458
for me, right?

3710
01:03:20,458 --> 01:03:21,416
Like, and here's.

3711
01:03:21,416 --> 01:03:21,666
Here's

3712
01:03:21,666 --> 01:03:23,041
the scary thing is

3713
01:03:23,041 --> 01:03:23,916
that I've

3714
01:03:23,916 --> 01:03:24,833
had this discussion

3715
01:03:24,833 --> 01:03:26,750
with left leaning

3716
01:03:26,750 --> 01:03:27,625
communists

3717
01:03:27,625 --> 01:03:28,708
to be polite.

3718
01:03:28,708 --> 01:03:30,000
And they,

3719
01:03:30,000 --> 01:03:31,333
they often say, well,

3720
01:03:31,333 --> 01:03:31,625
it's for

3721
01:03:31,625 --> 01:03:33,125
your protection.

3722
01:03:33,125 --> 01:03:33,916
It's for the greater

3723
01:03:33,916 --> 01:03:34,416
good, blah,

3724
01:03:34,416 --> 01:03:35,250
blah, blah.

3725
01:03:35,250 --> 01:03:35,916
And I think that

3726
01:03:35,916 --> 01:03:36,958
this is

3727
01:03:36,958 --> 01:03:37,791
probably the

3728
01:03:37,791 --> 01:03:39,458
most heinous and

3729
01:03:39,458 --> 01:03:41,250
and difficult,

3730
01:03:41,250 --> 01:03:42,208
to understand lie

3731
01:03:42,208 --> 01:03:42,958
that we've been told.

3732
01:03:42,958 --> 01:03:43,500
Because if you

3733
01:03:43,500 --> 01:03:44,291
tell everyone

3734
01:03:44,291 --> 01:03:44,666
that they are

3735
01:03:44,666 --> 01:03:45,916
in danger,

3736
01:03:45,916 --> 01:03:47,666
then you get to become

3737
01:03:47,666 --> 01:03:48,208
you have this

3738
01:03:48,208 --> 01:03:48,791
this ability

3739
01:03:48,791 --> 01:03:50,041
to be the Savior.

3740
01:03:50,041 --> 01:03:50,916
And we have

3741
01:03:50,916 --> 01:03:51,708
been tricked

3742
01:03:51,708 --> 01:03:52,375
into thinking

3743
01:03:52,375 --> 01:03:53,666
we are in danger

3744
01:03:53,666 --> 01:03:54,833
for so long

3745
01:03:54,833 --> 01:03:55,500
that people

3746
01:03:55,500 --> 01:03:56,791
are now applauding

3747
01:03:56,791 --> 01:03:58,125
when your money

3748
01:03:58,125 --> 01:03:58,916
gets held back.

3749
01:03:58,916 --> 01:03:59,541
It is.

3750
01:03:59,541 --> 01:04:00,208
It's this

3751
01:04:00,208 --> 01:04:01,750
most battered

3752
01:04:01,750 --> 01:04:02,916
wife syndrome

3753
01:04:04,000 --> 01:04:04,666
situation.

3754
01:04:04,666 --> 01:04:06,000
But this is the

3755
01:04:06,000 --> 01:04:06,791
oldest scam

3756
01:04:06,791 --> 01:04:07,875
in the universe,

3757
01:04:07,875 --> 01:04:08,375
that are in

3758
01:04:08,375 --> 01:04:09,416
human civilization

3759
01:04:09,416 --> 01:04:10,083
anyway.

3760
01:04:10,083 --> 01:04:11,166
Like,

3761
01:04:11,166 --> 01:04:11,458
that you

3762
01:04:11,458 --> 01:04:12,125
need protection

3763
01:04:12,125 --> 01:04:12,625
from something.

3764
01:04:12,625 --> 01:04:13,083
This is what

3765
01:04:13,083 --> 01:04:13,916
the mafia uses

3766
01:04:13,916 --> 01:04:14,541
all the time

3767
01:04:14,541 --> 01:04:15,708
to sell you insurance

3768
01:04:15,708 --> 01:04:16,375
against what

3769
01:04:16,375 --> 01:04:17,250
they will do to you

3770
01:04:17,250 --> 01:04:17,875
if you don't pay

3771
01:04:17,875 --> 01:04:18,666
for the insurance.

3772
01:04:18,666 --> 01:04:19,208
It's like,

3773
01:04:19,208 --> 01:04:19,750
why would

3774
01:04:19,750 --> 01:04:20,583
I need a savior?

3775
01:04:20,583 --> 01:04:21,416
You need a savior

3776
01:04:21,416 --> 01:04:21,791
from what

3777
01:04:21,791 --> 01:04:22,750
we will do to you

3778
01:04:22,750 --> 01:04:23,291
if you don't

3779
01:04:23,291 --> 01:04:24,250
buy our Savior,

3780
01:04:24,250 --> 01:04:24,916
what do I need

3781
01:04:24,916 --> 01:04:25,666
protection from?

3782
01:04:25,666 --> 01:04:26,458
You need protection

3783
01:04:26,458 --> 01:04:26,875
from what

3784
01:04:26,875 --> 01:04:27,541
the whatever

3785
01:04:27,541 --> 01:04:28,166
we feel

3786
01:04:28,166 --> 01:04:28,791
that we need

3787
01:04:28,791 --> 01:04:29,791
to do to you

3788
01:04:29,791 --> 01:04:30,666
if you don't do what

3789
01:04:30,666 --> 01:04:31,833
we tell you to do.

3790
01:04:31,833 --> 01:04:33,416
So, it's

3791
01:04:33,416 --> 01:04:34,083
the greatest lie

3792
01:04:34,083 --> 01:04:34,708
ever told.

3793
01:04:34,708 --> 01:04:36,125
And. Yes, yeah.

3794
01:04:36,125 --> 01:04:36,958
And all of

3795
01:04:36,958 --> 01:04:38,916
these problems with

3796
01:04:38,916 --> 01:04:39,458
when you think

3797
01:04:39,458 --> 01:04:40,583
about them and,

3798
01:04:40,583 --> 01:04:41,375
and everyone

3799
01:04:41,375 --> 01:04:42,208
who doesn't understand

3800
01:04:42,208 --> 01:04:43,750
Bitcoin says,

3801
01:04:43,750 --> 01:04:44,416
like, no,

3802
01:04:44,416 --> 01:04:45,458
it's unusable

3803
01:04:45,458 --> 01:04:46,166
because I can't

3804
01:04:46,166 --> 01:04:46,958
use my fiat

3805
01:04:46,958 --> 01:04:47,833
to do this and that.

3806
01:04:47,833 --> 01:04:48,750
But once

3807
01:04:48,750 --> 01:04:50,333
you're in Bitcoin

3808
01:04:50,333 --> 01:04:51,416
all the friction is

3809
01:04:51,416 --> 01:04:51,958
is gone.

3810
01:04:51,958 --> 01:04:53,458
Like it works

3811
01:04:53,458 --> 01:04:55,458
flawlessly 24/7.

3812
01:04:55,458 --> 01:04:56,458
Like TikTok

3813
01:04:56,458 --> 01:04:57,375
next block.

3814
01:04:57,375 --> 01:04:59,208
Nothing is,

3815
01:04:59,208 --> 01:05:00,125
like everything's

3816
01:05:00,125 --> 01:05:00,791
predictable,

3817
01:05:00,791 --> 01:05:01,958
everything's smooth,

3818
01:05:01,958 --> 01:05:02,916
everything's like,

3819
01:05:02,916 --> 01:05:03,958
exactly as

3820
01:05:03,958 --> 01:05:05,666
it should be. And,

3821
01:05:07,208 --> 01:05:07,583
you get

3822
01:05:07,583 --> 01:05:08,375
an occasional

3823
01:05:08,375 --> 01:05:09,041
fee spike

3824
01:05:09,041 --> 01:05:10,166
every once in a while

3825
01:05:10,166 --> 01:05:10,875
when a scammer

3826
01:05:10,875 --> 01:05:11,916
comes along and tries

3827
01:05:11,916 --> 01:05:12,250
to pull

3828
01:05:12,250 --> 01:05:13,166
a Fiat scam

3829
01:05:13,166 --> 01:05:14,083
on someone else.

3830
01:05:14,083 --> 01:05:14,583
But that's

3831
01:05:14,583 --> 01:05:15,250
basically it.

3832
01:05:15,250 --> 01:05:16,333
That's also a problem

3833
01:05:16,333 --> 01:05:17,083
with fiat

3834
01:05:17,083 --> 01:05:18,208
affecting Bitcoin.

3835
01:05:18,208 --> 01:05:18,875
So yes,

3836
01:05:18,875 --> 01:05:20,083
like it's it's

3837
01:05:20,083 --> 01:05:22,833
all fiat fault

3838
01:05:22,833 --> 01:05:23,625
for.

3839
01:05:23,625 --> 01:05:24,125
If we weren't.

3840
01:05:24,125 --> 01:05:25,208
So we do a lot of work

3841
01:05:25,208 --> 01:05:26,458
to prevent fraud.

3842
01:05:26,458 --> 01:05:28,708
And the number one

3843
01:05:28,708 --> 01:05:29,500
start I'm

3844
01:05:29,500 --> 01:05:32,041
a fraud case is

3845
01:05:32,041 --> 01:05:32,875
I'm trying

3846
01:05:32,875 --> 01:05:34,291
to preserve by wealth.

3847
01:05:34,291 --> 01:05:35,541
This is the

3848
01:05:35,541 --> 01:05:37,208
this is the natural

3849
01:05:37,208 --> 01:05:38,500
state of our world

3850
01:05:38,500 --> 01:05:39,583
where they

3851
01:05:39,583 --> 01:05:40,125
they have a

3852
01:05:40,125 --> 01:05:40,625
small amount

3853
01:05:40,625 --> 01:05:41,666
of savings.

3854
01:05:41,666 --> 01:05:41,916
There's

3855
01:05:41,916 --> 01:05:42,875
no longer cutting.

3856
01:05:42,875 --> 01:05:43,833
It will no longer

3857
01:05:43,833 --> 01:05:45,208
cut it in the future.

3858
01:05:45,208 --> 01:05:45,833
And someone

3859
01:05:45,833 --> 01:05:46,458
tricks them

3860
01:05:46,458 --> 01:05:47,041
into thinking

3861
01:05:47,041 --> 01:05:47,416
they can

3862
01:05:47,416 --> 01:05:48,791
guarantee 20%,

3863
01:05:48,791 --> 01:05:50,708
30% outpace inflation,

3864
01:05:50,708 --> 01:05:51,125
whatever it's

3865
01:05:51,125 --> 01:05:53,000
going to be with money

3866
01:05:53,000 --> 01:05:53,833
that does that.

3867
01:05:53,833 --> 01:05:55,250
By default,

3868
01:05:55,250 --> 01:05:55,750
all of those

3869
01:05:55,750 --> 01:05:56,833
scams disappear.

3870
01:05:56,833 --> 01:05:57,833
They become

3871
01:05:57,833 --> 01:05:58,916
non-existent.

3872
01:05:58,916 --> 01:05:59,625
We no longer

3873
01:05:59,625 --> 01:06:01,083
need to gamble

3874
01:06:01,083 --> 01:06:02,791
our savings,

3875
01:06:02,791 --> 01:06:03,625
our value,

3876
01:06:03,625 --> 01:06:04,916
our futures,

3877
01:06:04,916 --> 01:06:05,291
in order

3878
01:06:05,291 --> 01:06:07,166
to just simply survive

3879
01:06:07,166 --> 01:06:07,416
because

3880
01:06:07,416 --> 01:06:08,375
we've got money

3881
01:06:08,375 --> 01:06:09,750
that actually does

3882
01:06:09,750 --> 01:06:10,583
the work

3883
01:06:10,583 --> 01:06:11,541
in preserving

3884
01:06:11,541 --> 01:06:12,916
the value, which is,

3885
01:06:12,916 --> 01:06:14,375
I think,

3886
01:06:14,375 --> 01:06:14,625
again,

3887
01:06:14,625 --> 01:06:15,916
another societal shift

3888
01:06:15,916 --> 01:06:16,916
that will occur.

3889
01:06:16,916 --> 01:06:18,291
And inherently,

3890
01:06:18,291 --> 01:06:19,625
you know, incentives

3891
01:06:19,625 --> 01:06:20,708
then realign.

3892
01:06:20,708 --> 01:06:21,958
And we've got a better

3893
01:06:21,958 --> 01:06:24,416
opportunity to,

3894
01:06:24,416 --> 01:06:25,041
yeah, to,

3895
01:06:25,041 --> 01:06:26,583
I think, to thrive

3896
01:06:26,583 --> 01:06:27,958
as humanity.

3897
01:06:27,958 --> 01:06:28,291
Yeah.

3898
01:06:28,291 --> 01:06:28,916
The winning

3899
01:06:28,916 --> 01:06:30,000
move in fiat land

3900
01:06:30,000 --> 01:06:31,250
is to not play at all,

3901
01:06:32,416 --> 01:06:33,125
but something.

3902
01:06:33,125 --> 01:06:33,833
And we had it

3903
01:06:33,833 --> 01:06:34,833
in us all along.

3904
01:06:34,833 --> 01:06:35,916
It's like

3905
01:06:35,916 --> 01:06:36,625
we just needed

3906
01:06:36,625 --> 01:06:37,208
Bitcoin to

3907
01:06:37,208 --> 01:06:38,250
to tell us

3908
01:06:38,250 --> 01:06:38,916
that we had it

3909
01:06:38,916 --> 01:06:39,833
in us all along.

3910
01:06:39,833 --> 01:06:40,375
Yes.

3911
01:06:40,375 --> 01:06:43,375
And and you know,

3912
01:06:43,500 --> 01:06:44,875
investing is like

3913
01:06:44,875 --> 01:06:46,541
such an interesting

3914
01:06:46,541 --> 01:06:49,083
thought process of

3915
01:06:49,083 --> 01:06:50,125
I worked very hard

3916
01:06:50,125 --> 01:06:50,625
and received

3917
01:06:50,625 --> 01:06:51,666
this money.

3918
01:06:51,666 --> 01:06:52,583
This money sucks

3919
01:06:52,583 --> 01:06:53,333
so bad

3920
01:06:53,333 --> 01:06:53,750
that I'm going

3921
01:06:53,750 --> 01:06:54,833
to go now.

3922
01:06:54,833 --> 01:06:55,500
Give the money

3923
01:06:55,500 --> 01:06:57,083
to somebody else

3924
01:06:57,083 --> 01:06:58,000
so that I can have

3925
01:06:58,000 --> 01:06:59,083
a chance

3926
01:06:59,083 --> 01:06:59,458
to have

3927
01:06:59,458 --> 01:07:00,750
a better future,

3928
01:07:00,750 --> 01:07:01,375
or not

3929
01:07:01,375 --> 01:07:02,000
even a better future,

3930
01:07:02,000 --> 01:07:02,916
just to maintain

3931
01:07:02,916 --> 01:07:03,208
like I have

3932
01:07:03,208 --> 01:07:04,500
the same future

3933
01:07:04,500 --> 01:07:05,791
that I have right now.

3934
01:07:05,791 --> 01:07:06,333
And it's such

3935
01:07:06,333 --> 01:07:08,166
an interesting concept

3936
01:07:08,166 --> 01:07:09,541
that really

3937
01:07:09,541 --> 01:07:10,833
only needs to exist

3938
01:07:10,833 --> 01:07:11,250
when you've got

3939
01:07:11,250 --> 01:07:13,666
manipulated fiat.

3940
01:07:13,666 --> 01:07:14,166
Yeah.

3941
01:07:14,166 --> 01:07:16,541
And in investments,

3942
01:07:16,541 --> 01:07:17,208
when you have a

3943
01:07:17,208 --> 01:07:18,500
Bitcoin stack,

3944
01:07:18,500 --> 01:07:19,583
it needs to be

3945
01:07:19,583 --> 01:07:20,458
thought through like,

3946
01:07:20,458 --> 01:07:21,333
is this going to

3947
01:07:21,333 --> 01:07:22,291
make me more money

3948
01:07:22,291 --> 01:07:23,083
than just sitting

3949
01:07:23,083 --> 01:07:23,666
on this pile

3950
01:07:23,666 --> 01:07:24,083
of Bitcoin

3951
01:07:24,083 --> 01:07:25,166
and doing fuck all?

3952
01:07:25,166 --> 01:07:26,125
So I actually

3953
01:07:26,125 --> 01:07:26,375
actually

3954
01:07:26,375 --> 01:07:26,916
might disagree

3955
01:07:26,916 --> 01:07:27,666
with that.

3956
01:07:27,666 --> 01:07:28,375
I think that

3957
01:07:28,375 --> 01:07:30,666
investing it on

3958
01:07:30,666 --> 01:07:31,750
a Bitcoin standard

3959
01:07:31,750 --> 01:07:32,666
will transition

3960
01:07:32,666 --> 01:07:35,458
from a way to get rich

3961
01:07:35,458 --> 01:07:36,000
in or,

3962
01:07:36,000 --> 01:07:37,291
and it will change

3963
01:07:37,291 --> 01:07:37,958
into a way

3964
01:07:37,958 --> 01:07:39,833
to improve your life

3965
01:07:39,833 --> 01:07:41,250
or the lives of people

3966
01:07:41,250 --> 01:07:41,916
that care about.

3967
01:07:41,916 --> 01:07:42,208
We're going

3968
01:07:42,208 --> 01:07:43,208
to become mission

3969
01:07:43,208 --> 01:07:45,125
focused investors

3970
01:07:45,125 --> 01:07:46,333
in, in the future

3971
01:07:46,333 --> 01:07:46,916
and will actually,

3972
01:07:46,916 --> 01:07:47,791
I think, look a lot

3973
01:07:47,791 --> 01:07:48,375
more life,

3974
01:07:48,375 --> 01:07:51,208
philanthropic activity

3975
01:07:51,208 --> 01:07:52,083
than it will,

3976
01:07:53,250 --> 01:07:54,208
look like

3977
01:07:54,208 --> 01:07:55,708
getting an ROI

3978
01:07:55,708 --> 01:07:57,583
in monetary sense.

3979
01:07:57,583 --> 01:07:57,916
Yeah.

3980
01:07:57,916 --> 01:07:58,916
Here's an example of

3981
01:07:58,916 --> 01:07:59,583
of what I got.

3982
01:07:59,583 --> 01:08:00,833
Had to wait.

3983
01:08:00,833 --> 01:08:01,458
No, no, no,

3984
01:08:01,458 --> 01:08:02,166
you go ahead.

3985
01:08:02,166 --> 01:08:02,958
So example

3986
01:08:02,958 --> 01:08:03,916
that my kids

3987
01:08:03,916 --> 01:08:04,833
and I went to

3988
01:08:04,833 --> 01:08:06,416
a, a camp,

3989
01:08:06,416 --> 01:08:07,416
a family Bible

3990
01:08:07,416 --> 01:08:08,666
camp over the summer,

3991
01:08:08,666 --> 01:08:09,666
and it was dynamite.

3992
01:08:09,666 --> 01:08:10,333
Ten out of ten.

3993
01:08:10,333 --> 01:08:10,958
They're talking about

3994
01:08:10,958 --> 01:08:11,958
generational faith.

3995
01:08:11,958 --> 01:08:12,916
They're talking about

3996
01:08:12,916 --> 01:08:13,833
growing adults

3997
01:08:13,833 --> 01:08:15,000
are growing children

3998
01:08:15,000 --> 01:08:16,583
into adults.

3999
01:08:16,583 --> 01:08:16,916
That like,

4000
01:08:16,916 --> 01:08:17,458
love the Lord,

4001
01:08:17,458 --> 01:08:18,708
but also like,

4002
01:08:18,708 --> 01:08:19,083
you know,

4003
01:08:19,083 --> 01:08:21,125
want to move society

4004
01:08:21,125 --> 01:08:21,833
in a positive

4005
01:08:21,833 --> 01:08:22,833
direction

4006
01:08:22,833 --> 01:08:23,916
and, very,

4007
01:08:23,916 --> 01:08:26,458
very positive, move.

4008
01:08:26,458 --> 01:08:27,083
And I start

4009
01:08:27,083 --> 01:08:27,916
looking around,

4010
01:08:27,916 --> 01:08:28,291
you know,

4011
01:08:28,291 --> 01:08:29,166
my, like, serial

4012
01:08:29,166 --> 01:08:30,083
entrepreneur brand.

4013
01:08:30,083 --> 01:08:30,791
And I'm like, wow,

4014
01:08:30,791 --> 01:08:31,541
this sucks.

4015
01:08:31,541 --> 01:08:31,791
You know,

4016
01:08:31,791 --> 01:08:32,625
this could be better,

4017
01:08:32,625 --> 01:08:33,750
this could do more

4018
01:08:33,750 --> 01:08:34,000
blah, blah,

4019
01:08:34,000 --> 01:08:34,833
blah, blah.

4020
01:08:34,833 --> 01:08:36,083
And,

4021
01:08:36,083 --> 01:08:36,791
you know, I didn't

4022
01:08:36,791 --> 01:08:37,625
I didn't act on any of

4023
01:08:37,625 --> 01:08:38,250
this information,

4024
01:08:38,250 --> 01:08:39,458
but I started thinking

4025
01:08:39,458 --> 01:08:40,083
like, oh,

4026
01:08:40,083 --> 01:08:40,416
what would it

4027
01:08:40,416 --> 01:08:40,916
look like

4028
01:08:40,916 --> 01:08:41,666
for, you know,

4029
01:08:41,666 --> 01:08:42,166
if I were to

4030
01:08:42,166 --> 01:08:43,500
start a camp like this

4031
01:08:43,500 --> 01:08:45,291
or invest in a camp

4032
01:08:45,291 --> 01:08:45,791
like this?

4033
01:08:45,791 --> 01:08:46,041
Well,

4034
01:08:46,041 --> 01:08:46,541
their structure is

4035
01:08:46,541 --> 01:08:47,291
not for profit.

4036
01:08:47,291 --> 01:08:48,000
So then

4037
01:08:48,000 --> 01:08:48,666
I started thinking,

4038
01:08:48,666 --> 01:08:50,333
what would the benefit

4039
01:08:50,333 --> 01:08:50,791
like?

4040
01:08:50,791 --> 01:08:51,166
What would the

4041
01:08:51,166 --> 01:08:52,500
benefit be?

4042
01:08:52,500 --> 01:08:53,833
What if I committed,

4043
01:08:53,833 --> 01:08:54,291
you know,

4044
01:08:54,291 --> 01:08:55,666
X number of dollars

4045
01:08:55,666 --> 01:08:57,000
or X number of SATs

4046
01:08:57,000 --> 01:08:57,791
to a project

4047
01:08:57,791 --> 01:08:58,291
like this.

4048
01:08:58,291 --> 01:08:58,500
What would

4049
01:08:58,500 --> 01:08:59,541
that look like

4050
01:08:59,541 --> 01:09:00,625
over the next

4051
01:09:00,625 --> 01:09:01,958
period of time

4052
01:09:01,958 --> 01:09:02,375
and time

4053
01:09:02,375 --> 01:09:03,416
and time again,

4054
01:09:03,416 --> 01:09:04,000
it looked like

4055
01:09:04,000 --> 01:09:04,916
a horrible

4056
01:09:04,916 --> 01:09:06,750
monetary investment.

4057
01:09:06,750 --> 01:09:07,416
You cannot get

4058
01:09:07,416 --> 01:09:08,000
around that

4059
01:09:08,000 --> 01:09:09,000
in any way, shape

4060
01:09:09,000 --> 01:09:09,875
or form.

4061
01:09:09,875 --> 01:09:11,041
However,

4062
01:09:11,041 --> 01:09:11,541
I am still

4063
01:09:11,541 --> 01:09:13,208
incredibly drawn

4064
01:09:13,208 --> 01:09:15,541
to push our world

4065
01:09:15,541 --> 01:09:16,541
in such a way

4066
01:09:16,541 --> 01:09:18,833
that does empower,

4067
01:09:18,833 --> 01:09:19,125
you know,

4068
01:09:19,125 --> 01:09:20,166
the next generation

4069
01:09:20,166 --> 01:09:22,083
to be like, bold

4070
01:09:22,083 --> 01:09:23,041
and love the Lord.

4071
01:09:23,041 --> 01:09:26,041
And so I, I really,

4072
01:09:26,583 --> 01:09:27,541
do it.

4073
01:09:27,541 --> 01:09:28,333
This got me on this

4074
01:09:28,333 --> 01:09:29,250
track of like, well,

4075
01:09:29,250 --> 01:09:30,125
what does investing

4076
01:09:30,125 --> 01:09:30,583
look like

4077
01:09:30,583 --> 01:09:31,250
in the future

4078
01:09:31,250 --> 01:09:32,250
of a Bitcoin standard?

4079
01:09:32,250 --> 01:09:32,583
Why would

4080
01:09:32,583 --> 01:09:33,750
anyone invest?

4081
01:09:33,750 --> 01:09:34,833
And it has to be about

4082
01:09:34,833 --> 01:09:35,791
more than money

4083
01:09:35,791 --> 01:09:37,791
when you are so secure

4084
01:09:37,791 --> 01:09:39,125
in your future

4085
01:09:39,125 --> 01:09:39,416
and you're

4086
01:09:39,416 --> 01:09:40,916
so confident

4087
01:09:40,916 --> 01:09:41,791
that your savings

4088
01:09:41,791 --> 01:09:42,541
will yield

4089
01:09:42,541 --> 01:09:43,458
generations

4090
01:09:43,458 --> 01:09:45,666
of progress,

4091
01:09:45,666 --> 01:09:46,208
then you have

4092
01:09:46,208 --> 01:09:47,000
the ability

4093
01:09:47,000 --> 01:09:47,791
to kind of fast

4094
01:09:47,791 --> 01:09:49,375
track society

4095
01:09:49,375 --> 01:09:50,875
in a, in a direction

4096
01:09:50,875 --> 01:09:51,833
based on,

4097
01:09:51,833 --> 01:09:52,750
you know, a spend

4098
01:09:52,750 --> 01:09:53,666
or an effort.

4099
01:09:55,041 --> 01:09:55,833
Here's an

4100
01:09:55,833 --> 01:09:56,250
Austrian

4101
01:09:56,250 --> 01:09:57,250
perspective on that.

4102
01:09:57,250 --> 01:09:58,833
And that is that,

4103
01:09:58,833 --> 01:09:59,500
that was always

4104
01:09:59,500 --> 01:09:59,958
the case.

4105
01:09:59,958 --> 01:10:01,000
Like investment,

4106
01:10:01,000 --> 01:10:03,125
like money is just a

4107
01:10:03,125 --> 01:10:04,291
part of the equation.

4108
01:10:04,291 --> 01:10:06,208
But people do stuff.

4109
01:10:06,208 --> 01:10:07,125
People want money

4110
01:10:07,125 --> 01:10:08,166
because of the stuff.

4111
01:10:08,166 --> 01:10:09,083
That money will

4112
01:10:09,083 --> 01:10:10,166
buy them. Right?

4113
01:10:10,166 --> 01:10:11,791
And not not money

4114
01:10:11,791 --> 01:10:12,541
because of

4115
01:10:12,541 --> 01:10:13,333
the money itself.

4116
01:10:13,333 --> 01:10:14,041
So like,

4117
01:10:14,041 --> 01:10:15,500
there are more

4118
01:10:15,500 --> 01:10:16,625
things at play

4119
01:10:16,625 --> 01:10:18,458
in what we value

4120
01:10:18,458 --> 01:10:19,416
than simple

4121
01:10:19,416 --> 01:10:20,583
financial gains.

4122
01:10:20,583 --> 01:10:22,500
Like, I like we,

4123
01:10:22,500 --> 01:10:23,208
we do things

4124
01:10:23,208 --> 01:10:24,083
for our families

4125
01:10:24,083 --> 01:10:25,291
rather than like

4126
01:10:25,291 --> 01:10:25,833
I draw them

4127
01:10:25,833 --> 01:10:26,625
by Christmas

4128
01:10:26,625 --> 01:10:27,666
present for my son

4129
01:10:27,666 --> 01:10:28,458
than for some other

4130
01:10:28,458 --> 01:10:29,000
fucking kid

4131
01:10:29,000 --> 01:10:29,500
on the street

4132
01:10:29,500 --> 01:10:29,916
like that.

4133
01:10:29,916 --> 01:10:31,833
Like it's pretty

4134
01:10:31,833 --> 01:10:33,291
simple like that. So.

4135
01:10:33,291 --> 01:10:35,166
So, but the thing

4136
01:10:35,166 --> 01:10:36,000
I see, like,

4137
01:10:36,000 --> 01:10:37,291
if you just

4138
01:10:37,291 --> 01:10:38,333
fast track to

4139
01:10:38,333 --> 01:10:39,500
when there is no more

4140
01:10:39,500 --> 01:10:40,583
satoshis to be mined,

4141
01:10:40,583 --> 01:10:41,375
they're all

4142
01:10:41,375 --> 01:10:42,291
in circulation.

4143
01:10:44,125 --> 01:10:44,958
By the way, money is

4144
01:10:44,958 --> 01:10:45,958
never in circulation,

4145
01:10:45,958 --> 01:10:46,916
but it always belongs

4146
01:10:46,916 --> 01:10:47,416
to someone

4147
01:10:47,416 --> 01:10:48,000
at some point.

4148
01:10:48,000 --> 01:10:48,708
But you

4149
01:10:48,708 --> 01:10:50,958
get the expression,

4150
01:10:50,958 --> 01:10:53,250
so, at that point,

4151
01:10:53,250 --> 01:10:54,000
the only way

4152
01:10:54,000 --> 01:10:55,791
to survive,

4153
01:10:55,791 --> 01:10:57,125
is either doing

4154
01:10:57,125 --> 01:10:58,166
goods or services

4155
01:10:58,166 --> 01:10:58,708
or using

4156
01:10:58,708 --> 01:10:59,458
something else

4157
01:10:59,458 --> 01:11:00,125
than Bitcoin,

4158
01:11:00,125 --> 01:11:01,291
or to diminish

4159
01:11:01,291 --> 01:11:02,208
your stack slowly,

4160
01:11:02,208 --> 01:11:02,916
slowly, slowly

4161
01:11:02,916 --> 01:11:03,541
over time,

4162
01:11:03,541 --> 01:11:04,291
which still

4163
01:11:04,291 --> 01:11:05,041
can increase

4164
01:11:05,041 --> 01:11:05,666
in purchasing

4165
01:11:05,666 --> 01:11:06,458
power over time.

4166
01:11:06,458 --> 01:11:07,750
This is the magic

4167
01:11:07,750 --> 01:11:09,750
of deflation.

4168
01:11:09,750 --> 01:11:10,958
But what an investment

4169
01:11:10,958 --> 01:11:11,458
can do

4170
01:11:11,458 --> 01:11:12,916
is that it can

4171
01:11:12,916 --> 01:11:14,125
change the derivative,

4172
01:11:14,125 --> 01:11:15,416
it like the vector,

4173
01:11:15,416 --> 01:11:16,500
the the angle

4174
01:11:16,500 --> 01:11:17,375
of the decline

4175
01:11:17,375 --> 01:11:18,500
to be a little less

4176
01:11:18,500 --> 01:11:20,375
steep. Yeah.

4177
01:11:20,375 --> 01:11:22,291
So that's so, so that,

4178
01:11:22,291 --> 01:11:24,166
that you, you might,

4179
01:11:24,166 --> 01:11:25,083
start a company

4180
01:11:25,083 --> 01:11:25,583
not to have

4181
01:11:25,583 --> 01:11:26,458
black numbers,

4182
01:11:26,458 --> 01:11:27,625
but to have,

4183
01:11:27,625 --> 01:11:30,625
like, the,

4184
01:11:31,000 --> 01:11:31,708
the angle of

4185
01:11:31,708 --> 01:11:32,375
the decline

4186
01:11:32,375 --> 01:11:33,000
of your stock

4187
01:11:33,000 --> 01:11:33,875
be a little less

4188
01:11:33,875 --> 01:11:34,833
steep.

4189
01:11:34,833 --> 01:11:36,250
So, which, which.

4190
01:11:36,250 --> 01:11:36,916
But also.

4191
01:11:36,916 --> 01:11:37,833
What this does

4192
01:11:37,833 --> 01:11:39,083
is that it removes

4193
01:11:39,083 --> 01:11:39,500
all the

4194
01:11:39,500 --> 01:11:40,500
zombie companies

4195
01:11:40,500 --> 01:11:41,416
of the world, like,

4196
01:11:41,416 --> 01:11:42,833
because right now

4197
01:11:42,833 --> 01:11:44,333
companies are started

4198
01:11:44,333 --> 01:11:45,250
for bullshit

4199
01:11:45,250 --> 01:11:46,541
everywhere, and,

4200
01:11:46,541 --> 01:11:47,458
they don't make money.

4201
01:11:47,458 --> 01:11:48,083
And when, when,

4202
01:11:48,083 --> 01:11:49,666
when they go bankrupt,

4203
01:11:49,666 --> 01:11:50,083
there is

4204
01:11:50,083 --> 01:11:52,458
no punishment. No.

4205
01:11:55,333 --> 01:11:56,750
The,

4206
01:11:56,750 --> 01:11:57,458
what's the word I'm

4207
01:11:57,458 --> 01:11:57,916
looking for

4208
01:11:57,916 --> 01:11:58,875
the punishment

4209
01:11:58,875 --> 01:11:59,583
for for

4210
01:11:59,583 --> 01:12:00,333
the people doing

4211
01:12:00,333 --> 01:12:00,666
the bad

4212
01:12:00,666 --> 01:12:02,166
investment is not.

4213
01:12:02,166 --> 01:12:03,375
It doesn't suffice.

4214
01:12:03,375 --> 01:12:03,833
It's not.

4215
01:12:03,833 --> 01:12:04,708
It's not enough.

4216
01:12:04,708 --> 01:12:05,458
Like they're

4217
01:12:05,458 --> 01:12:06,541
not getting

4218
01:12:06,541 --> 01:12:07,791
what they deserve.

4219
01:12:07,791 --> 01:12:08,208
It's so

4220
01:12:08,208 --> 01:12:09,041
they can't keep on

4221
01:12:09,041 --> 01:12:10,291
doing stupid things

4222
01:12:10,291 --> 01:12:11,125
over and over again

4223
01:12:11,125 --> 01:12:11,833
and never learned

4224
01:12:11,833 --> 01:12:12,541
their lesson.

4225
01:12:12,541 --> 01:12:13,166
That is simply

4226
01:12:13,166 --> 01:12:13,833
not possible

4227
01:12:13,833 --> 01:12:14,666
in Bitcoin.

4228
01:12:14,666 --> 01:12:15,458
Yeah, 100%.

4229
01:12:15,458 --> 01:12:15,875
They're almost

4230
01:12:15,875 --> 01:12:16,791
they're always forced

4231
01:12:16,791 --> 01:12:17,125
to make

4232
01:12:17,125 --> 01:12:18,750
those bad investments.

4233
01:12:18,750 --> 01:12:20,666
They're not playing a

4234
01:12:20,666 --> 01:12:21,041
they're,

4235
01:12:21,041 --> 01:12:23,791
they're playing a game

4236
01:12:23,791 --> 01:12:24,291
whereby

4237
01:12:24,291 --> 01:12:24,666
you don't

4238
01:12:24,666 --> 01:12:25,500
need everything

4239
01:12:25,500 --> 01:12:26,291
to win.

4240
01:12:26,291 --> 01:12:28,291
You just need one.

4241
01:12:28,291 --> 01:12:29,083
And, and

4242
01:12:29,083 --> 01:12:29,791
especially on the,

4243
01:12:29,791 --> 01:12:31,625
on the VC track,

4244
01:12:31,625 --> 01:12:32,500
which is, yeah,

4245
01:12:32,500 --> 01:12:33,625
inherently fiat.

4246
01:12:33,625 --> 01:12:34,625
And and

4247
01:12:34,625 --> 01:12:35,250
I think that,

4248
01:12:35,250 --> 01:12:35,500
you know,

4249
01:12:35,500 --> 01:12:36,000
I look at these

4250
01:12:36,000 --> 01:12:37,333
big companies

4251
01:12:37,333 --> 01:12:38,041
with,

4252
01:12:38,041 --> 01:12:39,041
with all this cash

4253
01:12:39,041 --> 01:12:40,125
like I look at

4254
01:12:40,125 --> 01:12:40,541
Apple's

4255
01:12:40,541 --> 01:12:41,458
a great example

4256
01:12:41,458 --> 01:12:43,708
with this car recently

4257
01:12:43,708 --> 01:12:45,500
they piled

4258
01:12:45,500 --> 01:12:46,833
billions of dollars

4259
01:12:46,833 --> 01:12:49,833
into this car project

4260
01:12:50,041 --> 01:12:51,541
and then just

4261
01:12:51,541 --> 01:12:52,416
wiped it like

4262
01:12:52,416 --> 01:12:53,791
just scrap.

4263
01:12:54,791 --> 01:12:57,166
And what that means is

4264
01:12:57,166 --> 01:12:58,041
probably

4265
01:12:58,041 --> 01:12:58,666
they were

4266
01:12:58,666 --> 01:13:00,958
forcing things,

4267
01:13:00,958 --> 01:13:03,875
and they didn't have

4268
01:13:03,875 --> 01:13:04,250
they didn't

4269
01:13:04,250 --> 01:13:04,583
necessarily

4270
01:13:04,583 --> 01:13:04,833
have the

4271
01:13:04,833 --> 01:13:05,500
market signals

4272
01:13:05,500 --> 01:13:06,708
to bring that,

4273
01:13:06,708 --> 01:13:07,833
but they just thought,

4274
01:13:07,833 --> 01:13:08,041
well,

4275
01:13:08,041 --> 01:13:08,625
this cash

4276
01:13:08,625 --> 01:13:10,375
is deteriorating.

4277
01:13:10,375 --> 01:13:10,708
No, it's

4278
01:13:10,708 --> 01:13:11,166
what are we going

4279
01:13:11,166 --> 01:13:11,375
to do?

4280
01:13:11,375 --> 01:13:12,416
Well, on effect, it's

4281
01:13:12,416 --> 01:13:13,041
the Cantillon

4282
01:13:13,041 --> 01:13:13,708
effect and play.

4283
01:13:13,708 --> 01:13:14,166
They can

4284
01:13:14,166 --> 01:13:15,666
they can afford

4285
01:13:15,666 --> 01:13:17,500
to be wasteful

4286
01:13:17,500 --> 01:13:18,041
because there's

4287
01:13:18,041 --> 01:13:18,541
no cost

4288
01:13:18,541 --> 01:13:19,291
to being wasteful.

4289
01:13:19,291 --> 01:13:20,166
In fact, it's better

4290
01:13:20,166 --> 01:13:20,458
for them

4291
01:13:20,458 --> 01:13:21,208
to be wasted or.

4292
01:13:21,208 --> 01:13:23,375
To be wasteful.

4293
01:13:23,375 --> 01:13:25,083
It's awful.

4294
01:13:25,083 --> 01:13:25,500
Yeah.

4295
01:13:25,500 --> 01:13:25,916
It is.

4296
01:13:25,916 --> 01:13:26,666
It's terrible, man.

4297
01:13:26,666 --> 01:13:27,708
It's, Yeah.

4298
01:13:27,708 --> 01:13:28,541
It's challenging.

4299
01:13:28,541 --> 01:13:28,916
It's it's

4300
01:13:28,916 --> 01:13:31,250
a challenging spot.

4301
01:13:31,250 --> 01:13:31,500
Yeah.

4302
01:13:31,500 --> 01:13:31,875
And like,

4303
01:13:31,875 --> 01:13:32,250
I guess

4304
01:13:32,250 --> 01:13:32,458
kind of

4305
01:13:32,458 --> 01:13:33,666
speaking of the

4306
01:13:33,666 --> 01:13:34,875
the challenges,

4307
01:13:34,875 --> 01:13:35,208
I mean,

4308
01:13:35,208 --> 01:13:36,666
I mean, right now

4309
01:13:36,666 --> 01:13:38,250
Canada, Alberta,

4310
01:13:38,250 --> 01:13:39,125
are, are both

4311
01:13:39,125 --> 01:13:41,208
interesting places,

4312
01:13:41,208 --> 01:13:41,916
to operate.

4313
01:13:41,916 --> 01:13:42,458
Alberta is an

4314
01:13:42,458 --> 01:13:43,291
interesting place

4315
01:13:43,291 --> 01:13:44,958
to operate.

4316
01:13:44,958 --> 01:13:46,541
And what it

4317
01:13:46,541 --> 01:13:47,250
what's coming

4318
01:13:47,250 --> 01:13:48,416
up for you like,

4319
01:13:48,416 --> 01:13:48,958
what are you

4320
01:13:48,958 --> 01:13:49,708
what are you,

4321
01:13:49,708 --> 01:13:50,625
aiming to,

4322
01:13:50,625 --> 01:13:52,208
to do, right now

4323
01:13:52,208 --> 01:13:52,666
as you're going

4324
01:13:52,666 --> 01:13:53,375
forward here.

4325
01:13:54,666 --> 01:13:55,000
Yeah.

4326
01:13:55,000 --> 01:13:56,125
So we're

4327
01:13:56,125 --> 01:13:56,791
looking at Bitcoin.

4328
01:13:56,791 --> 01:13:58,708
Well,

4329
01:13:58,708 --> 01:13:58,958
very,

4330
01:13:58,958 --> 01:13:59,458
very excited

4331
01:13:59,458 --> 01:14:00,041
to make Canada

4332
01:14:00,041 --> 01:14:00,875
and us

4333
01:14:00,875 --> 01:14:01,666
kind of facilitate

4334
01:14:01,666 --> 01:14:03,666
that conduit here.

4335
01:14:03,666 --> 01:14:06,000
But more broadly,

4336
01:14:06,000 --> 01:14:07,041
I've my wife

4337
01:14:07,041 --> 01:14:08,416
and I over the last

4338
01:14:08,416 --> 01:14:10,166
probably 12,

4339
01:14:10,166 --> 01:14:11,208
18 months

4340
01:14:11,208 --> 01:14:12,333
had this kind of

4341
01:14:12,333 --> 01:14:14,583
major decision.

4342
01:14:14,583 --> 01:14:14,916
Are we going to

4343
01:14:14,916 --> 01:14:15,875
stay or go?

4344
01:14:15,875 --> 01:14:16,666
And we went through

4345
01:14:16,666 --> 01:14:17,666
this exercise,

4346
01:14:17,666 --> 01:14:18,000
this thought

4347
01:14:18,000 --> 01:14:19,416
process of,

4348
01:14:19,416 --> 01:14:20,166
you know, are we

4349
01:14:20,166 --> 01:14:21,625
are we happy here?

4350
01:14:21,625 --> 01:14:23,125
Well, no not really.

4351
01:14:23,125 --> 01:14:23,791
What are the pros

4352
01:14:23,791 --> 01:14:25,416
and cons?

4353
01:14:25,416 --> 01:14:26,375
And then and then,

4354
01:14:26,375 --> 01:14:27,708
you know, more cons,

4355
01:14:27,708 --> 01:14:28,250
but then it's

4356
01:14:28,250 --> 01:14:28,583
like, well,

4357
01:14:28,583 --> 01:14:29,750
where do we go?

4358
01:14:29,750 --> 01:14:30,708
And everywhere

4359
01:14:30,708 --> 01:14:32,666
is of subject

4360
01:14:32,666 --> 01:14:33,958
to the same fiat ness

4361
01:14:33,958 --> 01:14:34,458
that Canada

4362
01:14:34,458 --> 01:14:34,916
is some

4363
01:14:34,916 --> 01:14:36,125
a little bit less

4364
01:14:36,125 --> 01:14:36,958
some seeming

4365
01:14:36,958 --> 01:14:38,625
on the mend.

4366
01:14:38,625 --> 01:14:40,250
But all in all,

4367
01:14:40,250 --> 01:14:41,291
life gets

4368
01:14:41,291 --> 01:14:42,125
at best

4369
01:14:42,125 --> 01:14:45,125
marginally better,

4370
01:14:45,125 --> 01:14:46,375
than if

4371
01:14:46,375 --> 01:14:47,583
if we were to leave

4372
01:14:47,583 --> 01:14:48,916
and we'd lose all of

4373
01:14:48,916 --> 01:14:49,666
our, you know,

4374
01:14:49,666 --> 01:14:50,458
our community.

4375
01:14:51,541 --> 01:14:52,500
And, and

4376
01:14:52,500 --> 01:14:52,916
and that

4377
01:14:52,916 --> 01:14:53,625
whole, you know,

4378
01:14:53,625 --> 01:14:54,208
the family,

4379
01:14:54,208 --> 01:14:54,875
the friendships.

4380
01:14:54,875 --> 01:14:54,958
Like,

4381
01:14:54,958 --> 01:14:55,916
I grew up in the city

4382
01:14:55,916 --> 01:14:58,166
that we live in still,

4383
01:14:58,166 --> 01:14:59,375
my kids,

4384
01:14:59,375 --> 01:14:59,958
although we

4385
01:14:59,958 --> 01:15:00,833
are yanking the kids

4386
01:15:00,833 --> 01:15:02,041
out of school,

4387
01:15:02,041 --> 01:15:02,625
my kids were

4388
01:15:02,625 --> 01:15:03,250
at the same school

4389
01:15:03,250 --> 01:15:04,958
that I went to.

4390
01:15:04,958 --> 01:15:06,125
We play hockey.

4391
01:15:06,125 --> 01:15:06,791
Like,

4392
01:15:06,791 --> 01:15:07,708
we've got a really

4393
01:15:07,708 --> 01:15:09,166
strong community

4394
01:15:09,166 --> 01:15:11,083
in this,

4395
01:15:11,083 --> 01:15:11,750
in this city,

4396
01:15:11,750 --> 01:15:12,916
in this country.

4397
01:15:12,916 --> 01:15:13,833
And so about

4398
01:15:13,833 --> 01:15:14,875
six months ago,

4399
01:15:14,875 --> 01:15:15,500
we kind of made

4400
01:15:15,500 --> 01:15:18,000
the decision to stay,

4401
01:15:18,000 --> 01:15:20,375
but then,

4402
01:15:20,375 --> 01:15:22,291
take action towards,

4403
01:15:22,291 --> 01:15:22,708
you know,

4404
01:15:22,708 --> 01:15:23,166
making it

4405
01:15:23,166 --> 01:15:25,166
a better place.

4406
01:15:25,166 --> 01:15:26,041
And so

4407
01:15:26,041 --> 01:15:27,041
kind of cementing

4408
01:15:27,041 --> 01:15:27,500
Bitcoin.

4409
01:15:27,500 --> 01:15:28,291
Well,

4410
01:15:28,291 --> 01:15:28,833
you know, here

4411
01:15:28,833 --> 01:15:31,375
in North America,

4412
01:15:31,375 --> 01:15:32,500
specifically making.

4413
01:15:32,500 --> 01:15:33,250
Yeah, Canada

4414
01:15:33,250 --> 01:15:34,041
and USA

4415
01:15:34,041 --> 01:15:34,875
having that conduit

4416
01:15:34,875 --> 01:15:35,833
between

4417
01:15:35,833 --> 01:15:37,625
between Self-custody

4418
01:15:37,625 --> 01:15:39,166
and legacy

4419
01:15:39,166 --> 01:15:41,000
financial system.

4420
01:15:41,000 --> 01:15:42,083
I do believe

4421
01:15:42,083 --> 01:15:42,750
that my kids

4422
01:15:42,750 --> 01:15:43,208
will grow up

4423
01:15:43,208 --> 01:15:43,791
in a world

4424
01:15:43,791 --> 01:15:44,166
where they can

4425
01:15:44,166 --> 01:15:44,958
just have a Bitcoin

4426
01:15:44,958 --> 01:15:45,666
well, account,

4427
01:15:45,666 --> 01:15:46,500
they will not

4428
01:15:46,500 --> 01:15:47,375
need a bank account.

4429
01:15:47,375 --> 01:15:48,958
They'll be able to

4430
01:15:48,958 --> 01:15:50,166
send wire transfers

4431
01:15:50,166 --> 01:15:51,000
and buy a house

4432
01:15:51,000 --> 01:15:52,083
and do all the things

4433
01:15:52,083 --> 01:15:53,833
that they need to do.

4434
01:15:53,833 --> 01:15:54,875
With the fiat world,

4435
01:15:55,916 --> 01:15:56,958
but the

4436
01:15:56,958 --> 01:15:58,333
majority of their

4437
01:15:58,333 --> 01:15:59,375
income

4438
01:15:59,375 --> 01:16:00,750
and the majority

4439
01:16:00,750 --> 01:16:01,833
of their

4440
01:16:01,833 --> 01:16:02,375
or all of

4441
01:16:02,375 --> 01:16:03,416
their savings

4442
01:16:03,416 --> 01:16:04,166
should be

4443
01:16:04,166 --> 01:16:05,083
in Self-custody.

4444
01:16:05,083 --> 01:16:06,416
And so,

4445
01:16:06,416 --> 01:16:06,666
yeah,

4446
01:16:06,666 --> 01:16:07,166
as far as what's

4447
01:16:07,166 --> 01:16:08,208
next, it's

4448
01:16:08,208 --> 01:16:09,208
that I think

4449
01:16:09,208 --> 01:16:10,000
that paycheck

4450
01:16:10,000 --> 01:16:10,541
interaction,

4451
01:16:10,541 --> 01:16:11,875
something deeply

4452
01:16:11,875 --> 01:16:13,000
personal

4453
01:16:13,000 --> 01:16:14,541
and powerful

4454
01:16:14,541 --> 01:16:16,375
about getting,

4455
01:16:16,375 --> 01:16:16,708
you know,

4456
01:16:16,708 --> 01:16:18,000
sending your paycheck

4457
01:16:18,000 --> 01:16:19,250
and knowing a portion

4458
01:16:19,250 --> 01:16:19,875
or all of that

4459
01:16:19,875 --> 01:16:20,250
is turning

4460
01:16:20,250 --> 01:16:21,333
into Bitcoin

4461
01:16:21,333 --> 01:16:22,250
that is very good,

4462
01:16:22,250 --> 01:16:23,375
raw value.

4463
01:16:23,375 --> 01:16:23,708
And there's

4464
01:16:23,708 --> 01:16:24,625
so much opportunity

4465
01:16:24,625 --> 01:16:25,083
that we have.

4466
01:16:25,083 --> 01:16:25,666
On top of that,

4467
01:16:25,666 --> 01:16:26,333
we can start paying

4468
01:16:26,333 --> 01:16:26,916
people early.

4469
01:16:26,916 --> 01:16:27,541
We can give people

4470
01:16:27,541 --> 01:16:28,416
Bitcoin exposure

4471
01:16:28,416 --> 01:16:28,916
like they

4472
01:16:28,916 --> 01:16:29,666
there is just

4473
01:16:29,666 --> 01:16:30,750
there's opportunity

4474
01:16:30,750 --> 01:16:33,750
that exists here.

4475
01:16:33,750 --> 01:16:34,541
So yeah

4476
01:16:34,541 --> 01:16:36,541
all that to say,

4477
01:16:36,541 --> 01:16:37,333
what's next

4478
01:16:37,333 --> 01:16:37,833
is just

4479
01:16:37,833 --> 01:16:38,291
continuing down

4480
01:16:38,291 --> 01:16:38,791
the path.

4481
01:16:38,791 --> 01:16:39,916
We are very excited

4482
01:16:39,916 --> 01:16:40,541
about this.

4483
01:16:40,541 --> 01:16:42,000
These cash accounts

4484
01:16:42,000 --> 01:16:42,541
giving people

4485
01:16:42,541 --> 01:16:43,041
the ability

4486
01:16:43,041 --> 01:16:44,250
to deposit paychecks,

4487
01:16:44,250 --> 01:16:45,000
receive bitcoin

4488
01:16:45,000 --> 01:16:46,541
and self-custody.

4489
01:16:46,541 --> 01:16:47,791
Also,

4490
01:16:47,791 --> 01:16:49,125
this kind of solves

4491
01:16:49,125 --> 01:16:50,958
our Bitcoin bank

4492
01:16:50,958 --> 01:16:51,833
issue, right?

4493
01:16:51,833 --> 01:16:52,875
It's like

4494
01:16:52,875 --> 01:16:54,416
stupid banks, like,

4495
01:16:54,416 --> 01:16:55,458
well, don't send money

4496
01:16:55,458 --> 01:16:56,208
to those people.

4497
01:16:56,208 --> 01:16:56,583
We don't want

4498
01:16:56,583 --> 01:16:57,166
them to have it.

4499
01:16:57,166 --> 01:16:57,541
It's like,

4500
01:16:57,541 --> 01:16:58,625
okay, great.

4501
01:16:58,625 --> 01:16:59,375
Then we'll just

4502
01:16:59,375 --> 01:17:00,416
take the money first

4503
01:17:00,416 --> 01:17:01,416
and then give you

4504
01:17:01,416 --> 01:17:02,458
what's left over.

4505
01:17:02,458 --> 01:17:03,500
You know, like

4506
01:17:03,500 --> 01:17:04,875
this is kind of,

4507
01:17:04,875 --> 01:17:05,291
this is the

4508
01:17:05,291 --> 01:17:06,000
Cobra effect

4509
01:17:06,000 --> 01:17:06,750
in real time.

4510
01:17:06,750 --> 01:17:07,208
Banks are

4511
01:17:07,208 --> 01:17:08,166
losing customers

4512
01:17:08,166 --> 01:17:08,833
because they will not

4513
01:17:08,833 --> 01:17:09,875
let their customers do

4514
01:17:09,875 --> 01:17:10,375
what they want

4515
01:17:10,375 --> 01:17:11,333
with their money.

4516
01:17:11,333 --> 01:17:11,875
And they've

4517
01:17:11,875 --> 01:17:12,333
been too big

4518
01:17:12,333 --> 01:17:13,958
to fail for so long.

4519
01:17:13,958 --> 01:17:16,625
Some incredibly, the

4520
01:17:16,625 --> 01:17:18,875
supernatural force

4521
01:17:18,875 --> 01:17:20,458
in Bitcoin comes along

4522
01:17:20,458 --> 01:17:21,125
and completely

4523
01:17:21,125 --> 01:17:22,291
disrupts their

4524
01:17:22,291 --> 01:17:23,458
their entire

4525
01:17:23,458 --> 01:17:24,208
being in their

4526
01:17:24,208 --> 01:17:25,583
entire business.

4527
01:17:25,583 --> 01:17:26,541
And, yeah,

4528
01:17:26,541 --> 01:17:26,958
I think that

4529
01:17:26,958 --> 01:17:27,375
we're going to be

4530
01:17:27,375 --> 01:17:28,041
in better shape

4531
01:17:28,041 --> 01:17:28,916
because of it.

4532
01:17:28,916 --> 01:17:30,666
But so yeah, the next

4533
01:17:30,666 --> 01:17:31,500
that's a little bit

4534
01:17:31,500 --> 01:17:32,500
I'm working right now.

4535
01:17:32,500 --> 01:17:35,041
We developed, a swap.

4536
01:17:35,041 --> 01:17:36,833
So we obviously send,

4537
01:17:36,833 --> 01:17:37,625
you know,

4538
01:17:37,625 --> 01:17:38,041
hundreds

4539
01:17:38,041 --> 01:17:39,250
of transactions a day

4540
01:17:39,250 --> 01:17:41,250
on chain. And

4541
01:17:42,666 --> 01:17:43,000
part of the

4542
01:17:43,000 --> 01:17:43,500
benefits there is

4543
01:17:43,500 --> 01:17:43,833
that we can

4544
01:17:43,833 --> 01:17:45,333
swap transactions.

4545
01:17:45,333 --> 01:17:46,250
And so we made

4546
01:17:46,250 --> 01:17:47,166
a lightning

4547
01:17:47,166 --> 01:17:48,250
to chain and a chain

4548
01:17:48,250 --> 01:17:50,375
to lightning swap tool

4549
01:17:50,375 --> 01:17:51,125
where you can send

4550
01:17:51,125 --> 01:17:52,000
lightning and receive

4551
01:17:52,000 --> 01:17:54,208
Bitcoin on chain,

4552
01:17:54,208 --> 01:17:55,083
like for free.

4553
01:17:55,083 --> 01:17:56,125
So no fee

4554
01:17:56,125 --> 01:17:57,125
and no minor fee.

4555
01:17:57,125 --> 01:17:57,791
Even you see,

4556
01:17:57,791 --> 01:17:58,416
if you send a million

4557
01:17:58,416 --> 01:17:59,625
SATs on lightning,

4558
01:17:59,625 --> 01:18:00,375
you get a million

4559
01:18:00,375 --> 01:18:01,958
SATs on chain.

4560
01:18:01,958 --> 01:18:03,708
And I want to open

4561
01:18:03,708 --> 01:18:05,250
that up worldwide.

4562
01:18:05,250 --> 01:18:06,833
So investigating,

4563
01:18:06,833 --> 01:18:07,291
you know,

4564
01:18:07,291 --> 01:18:08,166
all the fiat ness

4565
01:18:08,166 --> 01:18:08,458
that is

4566
01:18:08,458 --> 01:18:09,000
that is included

4567
01:18:09,000 --> 01:18:10,208
that my wife has given

4568
01:18:10,208 --> 01:18:11,916
me pretty strict,

4569
01:18:11,916 --> 01:18:13,833
don't go to jail.

4570
01:18:13,833 --> 01:18:14,625
Rules.

4571
01:18:14,625 --> 01:18:14,916
That's

4572
01:18:14,916 --> 01:18:15,916
that's the sole rule

4573
01:18:15,916 --> 01:18:16,750
that I live behind

4574
01:18:16,750 --> 01:18:17,833
or that I live by.

4575
01:18:17,833 --> 01:18:19,333
And so abiding

4576
01:18:19,333 --> 01:18:19,916
by the don't

4577
01:18:19,916 --> 01:18:20,666
go to jail rule

4578
01:18:20,666 --> 01:18:22,291
forces me to be

4579
01:18:22,291 --> 01:18:23,500
relatively aware

4580
01:18:23,500 --> 01:18:24,416
of the compliance.

4581
01:18:26,166 --> 01:18:26,583
In other

4582
01:18:26,583 --> 01:18:27,250
jurisdictions.

4583
01:18:27,250 --> 01:18:27,875
And so currently

4584
01:18:27,875 --> 01:18:28,291
going through

4585
01:18:28,291 --> 01:18:28,958
that process.

4586
01:18:28,958 --> 01:18:30,333
But what that means

4587
01:18:30,333 --> 01:18:31,291
for us is,

4588
01:18:31,291 --> 01:18:31,791
first of all,

4589
01:18:31,791 --> 01:18:31,958
we get

4590
01:18:31,958 --> 01:18:32,666
to give the world

4591
01:18:32,666 --> 01:18:33,000
the ability

4592
01:18:33,000 --> 01:18:34,375
to stack on lightning

4593
01:18:34,375 --> 01:18:34,958
and then

4594
01:18:34,958 --> 01:18:35,750
and then store

4595
01:18:35,750 --> 01:18:36,333
on chain.

4596
01:18:36,333 --> 01:18:36,708
And that's

4597
01:18:36,708 --> 01:18:37,666
probably the future

4598
01:18:37,666 --> 01:18:38,708
for the short term

4599
01:18:38,708 --> 01:18:40,083
stacking in an L2

4600
01:18:40,083 --> 01:18:41,250
secondary chain

4601
01:18:41,250 --> 01:18:41,791
where you are

4602
01:18:41,791 --> 01:18:42,250
giving up

4603
01:18:42,250 --> 01:18:43,083
custody rights,

4604
01:18:43,083 --> 01:18:44,208
like with either

4605
01:18:44,208 --> 01:18:45,125
liquid or lightning,

4606
01:18:45,125 --> 01:18:45,666
you're giving up

4607
01:18:45,666 --> 01:18:46,958
custody rights.

4608
01:18:46,958 --> 01:18:47,833
Frankly, you know,

4609
01:18:47,833 --> 01:18:48,666
you can run a node

4610
01:18:48,666 --> 01:18:51,000
and have channels.

4611
01:18:51,000 --> 01:18:51,875
No one does that.

4612
01:18:51,875 --> 01:18:52,291
It is

4613
01:18:52,291 --> 01:18:53,583
it is the delta

4614
01:18:53,583 --> 01:18:54,666
between

4615
01:18:54,666 --> 01:18:56,041
that and

4616
01:18:56,041 --> 01:18:57,833
custody is so big,

4617
01:18:57,833 --> 01:18:59,916
I believe it's

4618
01:18:59,916 --> 01:19:00,583
like,

4619
01:19:00,583 --> 01:19:01,291
I guess personally

4620
01:19:01,291 --> 01:19:03,458
I do that.

4621
01:19:03,458 --> 01:19:04,625
But I don't believe

4622
01:19:04,625 --> 01:19:05,083
the majority

4623
01:19:05,083 --> 01:19:05,875
of our customers

4624
01:19:05,875 --> 01:19:06,541
will do that.

4625
01:19:06,541 --> 01:19:08,166
And so that said,

4626
01:19:08,166 --> 01:19:09,500
stacking on chain

4627
01:19:09,500 --> 01:19:10,291
in a self-custody

4628
01:19:10,291 --> 01:19:11,666
environment,

4629
01:19:11,666 --> 01:19:12,083
is getting

4630
01:19:12,083 --> 01:19:12,833
quite punitive,

4631
01:19:12,833 --> 01:19:13,833
or it could become

4632
01:19:13,833 --> 01:19:15,000
quite punitive with,

4633
01:19:15,000 --> 01:19:15,750
so management

4634
01:19:15,750 --> 01:19:16,458
and so

4635
01:19:16,458 --> 01:19:17,791
stacking and lightning

4636
01:19:17,791 --> 01:19:18,333
in some kind

4637
01:19:18,333 --> 01:19:19,000
of layer to

4638
01:19:19,000 --> 01:19:19,666
moving it on

4639
01:19:19,666 --> 01:19:20,666
chain to store,

4640
01:19:21,666 --> 01:19:22,500
feels like

4641
01:19:22,500 --> 01:19:23,458
the appropriate

4642
01:19:23,458 --> 01:19:24,333
intermediary

4643
01:19:24,333 --> 01:19:25,000
right now.

4644
01:19:25,000 --> 01:19:25,708
And giving that to

4645
01:19:25,708 --> 01:19:26,083
the world

4646
01:19:26,083 --> 01:19:26,750
is very important.

4647
01:19:26,750 --> 01:19:27,541
And then for us,

4648
01:19:27,541 --> 01:19:28,083
we get to kind

4649
01:19:28,083 --> 01:19:29,375
of identify, hey,

4650
01:19:29,375 --> 01:19:30,208
you've got a pocket of

4651
01:19:30,208 --> 01:19:31,250
users in Brazil,

4652
01:19:31,250 --> 01:19:32,541
why don't we go

4653
01:19:32,541 --> 01:19:33,250
and start deploying

4654
01:19:33,250 --> 01:19:34,750
fiat services

4655
01:19:34,750 --> 01:19:35,583
in Brazil

4656
01:19:35,583 --> 01:19:38,041
or Mexico or whatever?

4657
01:19:38,041 --> 01:19:39,500
Sweden, Finland,

4658
01:19:39,500 --> 01:19:41,291
you know, mind you,

4659
01:19:41,291 --> 01:19:41,833
you get your

4660
01:19:41,833 --> 01:19:42,750
your jurisdiction

4661
01:19:42,750 --> 01:19:45,333
is crazy for,

4662
01:19:45,333 --> 01:19:46,833
laws and compliance.

4663
01:19:46,833 --> 01:19:47,666
So maybe not,

4664
01:19:47,666 --> 01:19:48,750
but we'll see.

4665
01:19:48,750 --> 01:19:49,458
No, but,

4666
01:19:49,458 --> 01:19:50,208
I got the fuck

4667
01:19:50,208 --> 01:19:50,791
out of Sweden

4668
01:19:50,791 --> 01:19:51,625
because of.

4669
01:19:51,625 --> 01:19:52,416
So that's

4670
01:19:52,416 --> 01:19:52,791
one of the

4671
01:19:52,791 --> 01:19:54,416
other things.

4672
01:19:54,416 --> 01:19:55,416
Yes.

4673
01:19:55,416 --> 01:19:57,041
It's, Yeah.

4674
01:19:57,041 --> 01:19:58,083
It's crazy.

4675
01:19:58,083 --> 01:19:59,291
It's a nightmare

4676
01:19:59,291 --> 01:19:59,583
that's.

4677
01:19:59,583 --> 01:20:00,833
In Europe has, like,

4678
01:20:00,833 --> 01:20:01,708
all of it

4679
01:20:01,708 --> 01:20:02,375
kind of its own,

4680
01:20:02,375 --> 01:20:03,625
its own suite

4681
01:20:03,625 --> 01:20:04,666
of services

4682
01:20:04,666 --> 01:20:05,375
and providers

4683
01:20:05,375 --> 01:20:05,833
and stuff.

4684
01:20:05,833 --> 01:20:06,291
It

4685
01:20:06,291 --> 01:20:06,750
we actually

4686
01:20:06,750 --> 01:20:07,625
don't talk to,

4687
01:20:07,625 --> 01:20:08,416
I think the North

4688
01:20:08,416 --> 01:20:10,083
American side

4689
01:20:10,083 --> 01:20:10,916
that often.

4690
01:20:10,916 --> 01:20:11,958
So great to great

4691
01:20:11,958 --> 01:20:12,375
to hear

4692
01:20:12,375 --> 01:20:13,458
your perspective.

4693
01:20:13,458 --> 01:20:14,166
Great to see you

4694
01:20:14,166 --> 01:20:15,166
what you're doing.

4695
01:20:15,166 --> 01:20:16,458
I mean like,

4696
01:20:16,458 --> 01:20:17,458
our touch points

4697
01:20:17,458 --> 01:20:18,000
with Canadian

4698
01:20:18,000 --> 01:20:18,583
Bitcoiners

4699
01:20:18,583 --> 01:20:19,500
over the last

4700
01:20:19,500 --> 01:20:20,083
few months,

4701
01:20:20,083 --> 01:20:20,958
everyone's awesome.

4702
01:20:20,958 --> 01:20:21,375
I mean, we've

4703
01:20:21,375 --> 01:20:22,083
we've talked to,

4704
01:20:25,333 --> 01:20:26,541
but Ben,

4705
01:20:26,541 --> 01:20:27,333
Ben Sessions, I

4706
01:20:27,333 --> 01:20:29,125
know as Ben Perrin.

4707
01:20:29,125 --> 01:20:29,666
It's cubicle

4708
01:20:29,666 --> 01:20:30,125
calling him.

4709
01:20:30,125 --> 01:20:31,208
Just BTC sessions.

4710
01:20:31,208 --> 01:20:32,541
We talked to him.

4711
01:20:32,541 --> 01:20:33,958
Yeah. Mr. sessions.

4712
01:20:33,958 --> 01:20:35,041
Mr. sessions? Yeah.

4713
01:20:35,041 --> 01:20:37,583
Dave Bradley, like,

4714
01:20:37,583 --> 01:20:38,041
all the

4715
01:20:38,041 --> 01:20:38,833
the Canadian

4716
01:20:38,833 --> 01:20:39,625
community is,

4717
01:20:39,625 --> 01:20:40,166
is just

4718
01:20:40,166 --> 01:20:41,916
absolutely fantastic.

4719
01:20:41,916 --> 01:20:43,083
The Alberta

4720
01:20:43,083 --> 01:20:44,250
Nasdaq like.

4721
01:20:44,250 --> 01:20:45,208
Yes. Exact.

4722
01:20:45,208 --> 01:20:46,333
Exactly. Yeah.

4723
01:20:46,333 --> 01:20:46,791
I mentioned

4724
01:20:46,791 --> 01:20:48,500
a few of Frances.

4725
01:20:48,500 --> 01:20:49,041
Yeah, yeah.

4726
01:20:49,041 --> 01:20:49,958
Yeah, exactly.

4727
01:20:49,958 --> 01:20:51,583
And so, no.

4728
01:20:51,583 --> 01:20:52,500
Awesome to see

4729
01:20:52,500 --> 01:20:53,750
what you're doing.

4730
01:20:53,750 --> 01:20:55,625
And

4731
01:20:55,625 --> 01:20:56,666
looking forward to,

4732
01:20:56,666 --> 01:20:57,458
to seeing everything

4733
01:20:57,458 --> 01:20:58,625
that is coming up

4734
01:20:58,625 --> 01:20:59,541
with Bitcoin.

4735
01:20:59,541 --> 01:21:02,291
Well, so, yeah.

4736
01:21:02,291 --> 01:21:02,875
Adam was,

4737
01:21:02,875 --> 01:21:03,208
was there

4738
01:21:03,208 --> 01:21:03,666
anything else

4739
01:21:03,666 --> 01:21:04,083
you wanted

4740
01:21:04,083 --> 01:21:05,666
to, to touch on that

4741
01:21:05,666 --> 01:21:06,208
we haven't

4742
01:21:06,208 --> 01:21:07,291
already covered?

4743
01:21:07,291 --> 01:21:07,708
Now man,

4744
01:21:07,708 --> 01:21:08,333
this is great.

4745
01:21:08,333 --> 01:21:09,000
You guys crash it.

4746
01:21:09,000 --> 01:21:09,875
It's always fun

4747
01:21:09,875 --> 01:21:10,541
driving down

4748
01:21:10,541 --> 01:21:11,458
the philosophical

4749
01:21:11,458 --> 01:21:12,125
rabbit hole

4750
01:21:12,125 --> 01:21:13,416
of of bitcoin.

4751
01:21:13,416 --> 01:21:13,958
And,

4752
01:21:13,958 --> 01:21:14,750
you know,

4753
01:21:14,750 --> 01:21:15,375
bitcoiners

4754
01:21:15,375 --> 01:21:16,166
get a lot of flack

4755
01:21:16,166 --> 01:21:16,625
for saying

4756
01:21:16,625 --> 01:21:17,750
Bitcoin fixes this.

4757
01:21:17,750 --> 01:21:18,541
But when you run down

4758
01:21:18,541 --> 01:21:20,541
the logic train,

4759
01:21:20,541 --> 01:21:21,416
Bitcoin fixes

4760
01:21:21,416 --> 01:21:22,208
a lot of things.

4761
01:21:23,625 --> 01:21:24,708
Absolutely.

4762
01:21:24,708 --> 01:21:26,000
Almost everything.

4763
01:21:26,000 --> 01:21:26,833
Almost everything

4764
01:21:26,833 --> 01:21:28,500
then and it's

4765
01:21:28,500 --> 01:21:29,583
it's it is

4766
01:21:29,583 --> 01:21:31,625
really remarkable,

4767
01:21:31,625 --> 01:21:32,791
that we get to live

4768
01:21:32,791 --> 01:21:34,083
in a time

4769
01:21:34,083 --> 01:21:35,208
to contribute to that,

4770
01:21:35,208 --> 01:21:36,000
like you guys

4771
01:21:36,000 --> 01:21:36,833
with your show,

4772
01:21:36,833 --> 01:21:38,000
you know, like,

4773
01:21:38,000 --> 01:21:38,375
you know, what

4774
01:21:38,375 --> 01:21:38,791
we get to do

4775
01:21:38,791 --> 01:21:40,833
with Bitcoin? Well,

4776
01:21:40,833 --> 01:21:42,750
I just think about

4777
01:21:42,750 --> 01:21:43,458
and you know,

4778
01:21:43,458 --> 01:21:44,125
there's a chance

4779
01:21:44,125 --> 01:21:44,541
that we don't

4780
01:21:44,541 --> 01:21:45,125
get any credit,

4781
01:21:45,125 --> 01:21:46,500
which is fine.

4782
01:21:46,500 --> 01:21:46,833
You know

4783
01:21:46,833 --> 01:21:47,375
I don't know who

4784
01:21:47,375 --> 01:21:47,875
made the first

4785
01:21:47,875 --> 01:21:49,166
printing press,

4786
01:21:49,166 --> 01:21:49,833
but I know it was

4787
01:21:49,833 --> 01:21:50,791
pretty damn important

4788
01:21:50,791 --> 01:21:51,500
for the future

4789
01:21:51,500 --> 01:21:52,625
of democracy.

4790
01:21:52,625 --> 01:21:53,791
Gutenberg.

4791
01:21:53,791 --> 01:21:54,708
It was it.

4792
01:21:54,708 --> 01:21:57,708
Yeah.

4793
01:21:59,000 --> 01:21:59,375
So, yeah,

4794
01:21:59,375 --> 01:22:00,000
I think it's cool.

4795
01:22:00,000 --> 01:22:00,541
I think it's great

4796
01:22:00,541 --> 01:22:00,875
that we get

4797
01:22:00,875 --> 01:22:01,833
to communicate.

4798
01:22:01,833 --> 01:22:03,000
And,

4799
01:22:03,000 --> 01:22:03,875
and I think it's great

4800
01:22:03,875 --> 01:22:04,291
that we get to

4801
01:22:04,291 --> 01:22:05,666
contribute to

4802
01:22:05,666 --> 01:22:06,333
what the future

4803
01:22:06,333 --> 01:22:07,083
of Bitcoin will be.

4804
01:22:07,083 --> 01:22:08,125
So yeah,

4805
01:22:08,125 --> 01:22:09,125
hats off to you guys.

4806
01:22:09,125 --> 01:22:09,541
Thanks so much

4807
01:22:09,541 --> 01:22:10,166
for having me.

4808
01:22:10,166 --> 01:22:11,000
And looking forward

4809
01:22:11,000 --> 01:22:12,416
to our chat soon.

4810
01:22:12,416 --> 01:22:12,666
Yeah.

4811
01:22:12,666 --> 01:22:13,791
Final thought,

4812
01:22:13,791 --> 01:22:14,458
did you know that

4813
01:22:14,458 --> 01:22:15,333
you can mix

4814
01:22:15,333 --> 01:22:16,916
like milk, sugar,

4815
01:22:16,916 --> 01:22:18,000
eggs and butter and

4816
01:22:18,000 --> 01:22:18,416
store your

4817
01:22:18,416 --> 01:22:19,166
bitcoin in that

4818
01:22:21,041 --> 01:22:21,666
weather with a

4819
01:22:21,666 --> 01:22:22,500
vanilla vanilla

4820
01:22:22,500 --> 01:22:24,125
extract? Give me this.

4821
01:22:24,125 --> 01:22:25,250
How do you do that?

4822
01:22:25,250 --> 01:22:25,666
It's called

4823
01:22:25,666 --> 01:22:28,666
self-custody.

4824
01:22:29,916 --> 01:22:31,500
Okay.

4825
01:22:31,500 --> 01:22:33,041
I will accept that.

4826
01:22:33,041 --> 01:22:34,375
And I will,

4827
01:22:34,375 --> 01:22:35,375
I will go try it.

4828
01:22:35,375 --> 01:22:35,875
It sounds

4829
01:22:35,875 --> 01:22:36,750
just like eggnog

4830
01:22:36,750 --> 01:22:38,666
to me, but.

4831
01:22:38,666 --> 01:22:39,041
Events

4832
01:22:39,041 --> 01:22:41,458
on how you mix, like

4833
01:22:41,458 --> 01:22:42,666
if you use wasabi

4834
01:22:42,666 --> 01:22:45,416
or not, like, but,

4835
01:22:45,416 --> 01:22:46,291
all right, anywhere

4836
01:22:46,291 --> 01:22:46,833
you want to send

4837
01:22:46,833 --> 01:22:48,875
our listeners, more.

4838
01:22:48,875 --> 01:22:49,125
Yeah.

4839
01:22:49,125 --> 01:22:50,291
I mean, certainly go

4840
01:22:50,291 --> 01:22:50,916
go to Bitcoin.

4841
01:22:50,916 --> 01:22:52,333
Welcome.

4842
01:22:52,333 --> 01:22:53,166
We're going to be,

4843
01:22:53,166 --> 01:22:54,000
like I said, that

4844
01:22:54,000 --> 01:22:54,583
swap tool.

4845
01:22:54,583 --> 01:22:55,000
I'm working

4846
01:22:55,000 --> 01:22:56,166
very hard to get this.

4847
01:22:56,166 --> 01:22:57,375
I want this live.

4848
01:22:57,375 --> 01:22:58,583
And so,

4849
01:22:58,583 --> 01:23:00,541
got a Bitcoin welcome.

4850
01:23:00,541 --> 01:23:01,416
Make an account

4851
01:23:01,416 --> 01:23:03,208
and then do nothing.

4852
01:23:03,208 --> 01:23:04,458
And we'll,

4853
01:23:04,458 --> 01:23:05,125
when it's live,

4854
01:23:05,125 --> 01:23:05,666
it'll be live.

4855
01:23:05,666 --> 01:23:06,458
But also, you know,

4856
01:23:06,458 --> 01:23:08,041
like on Twitter,

4857
01:23:08,041 --> 01:23:09,375
you can get me at Adam

4858
01:23:09,375 --> 01:23:10,458
O'Brien underscore

4859
01:23:10,458 --> 01:23:11,250
or on primal

4860
01:23:11,250 --> 01:23:12,875
or on nosotros. Sorry.

4861
01:23:12,875 --> 01:23:14,166
You can get me.

4862
01:23:14,166 --> 01:23:15,250
I'm a I'm a nipple

4863
01:23:15,250 --> 01:23:16,583
five maxi.

4864
01:23:16,583 --> 01:23:17,333
Meaning I'm

4865
01:23:17,333 --> 01:23:18,000
not going to sit here

4866
01:23:18,000 --> 01:23:18,958
and rattle off my

4867
01:23:18,958 --> 01:23:20,083
my job,

4868
01:23:20,083 --> 01:23:20,583
but I am going

4869
01:23:20,583 --> 01:23:21,333
to get nipple

4870
01:23:21,333 --> 01:23:22,333
five verification

4871
01:23:22,333 --> 01:23:23,625
which is just Adam

4872
01:23:23,625 --> 01:23:26,250
at btc w app.

4873
01:23:26,250 --> 01:23:27,583
So btc w is

4874
01:23:27,583 --> 01:23:28,625
this is the shorthand

4875
01:23:28,625 --> 01:23:29,125
for bitcoin.

4876
01:23:29,125 --> 01:23:30,625
Well dot app

4877
01:23:30,625 --> 01:23:31,250
that's my nipple.

4878
01:23:31,250 --> 01:23:32,125
Five verification.

4879
01:23:32,125 --> 01:23:33,000
If you search that

4880
01:23:33,000 --> 01:23:34,000
in any in any,

4881
01:23:34,000 --> 01:23:35,166
Nostre client,

4882
01:23:35,166 --> 01:23:37,166
you'll likely see me

4883
01:23:37,166 --> 01:23:38,041
and Yeah,

4884
01:23:38,041 --> 01:23:39,333
follow me there.

4885
01:23:39,333 --> 01:23:40,083
We'd love to connect

4886
01:23:40,083 --> 01:23:40,875
with more Bitcoiners,

4887
01:23:40,875 --> 01:23:42,000
especially,

4888
01:23:42,000 --> 01:23:42,375
you know,

4889
01:23:42,375 --> 01:23:43,000
international

4890
01:23:43,000 --> 01:23:43,875
Bitcoiners are great

4891
01:23:43,875 --> 01:23:44,708
because my family

4892
01:23:44,708 --> 01:23:45,500
and I might show up

4893
01:23:45,500 --> 01:23:46,166
looking for a place

4894
01:23:46,166 --> 01:23:46,916
to stay one day,

4895
01:23:46,916 --> 01:23:47,666
and then,

4896
01:23:47,666 --> 01:23:48,333
and then we'll

4897
01:23:48,333 --> 01:23:49,041
have some fun.

4898
01:23:51,125 --> 01:23:52,291
Thank you very much.

4899
01:23:52,291 --> 01:23:52,666
Adam.

4900
01:23:52,666 --> 01:23:54,166
This has been,

4901
01:23:54,166 --> 01:23:55,166
a great conversation.

4902
01:23:55,166 --> 01:23:56,583
I enjoyed it a lot.

4903
01:23:56,583 --> 01:23:57,583
And, Yeah,

4904
01:23:57,583 --> 01:23:58,916
we'll keep in touch.

4905
01:23:58,916 --> 01:23:59,291
Awesome.

4906
01:23:59,291 --> 01:23:59,541
Thank you

4907
01:23:59,541 --> 01:24:00,958
for everything. Yeah.

4908
01:24:00,958 --> 01:24:01,791
Thanks a lot, Adam.

4909
01:24:01,791 --> 01:24:02,208
Take care.