Prince Filip of Serbia on Bitcoin Adoption and Geopolitics - Bitcoin Infinity Show #135

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Enjoy the conversation.

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Filip, welcome back to
the Bitcoin Infinity Show.

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Thank you for joining us.

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Thanks, Luke.

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Thanks, Knut.

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Knut, sorry.

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Yes.

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to know a Knut in, uh, back in the days,
but he liked to have it as a silent K.

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Yeah.

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Oh, what a nutcase.

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With a K.

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Silent

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K.

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Knutcase.

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He was Swiss.

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There

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Swiss.

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we go.

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right.

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I didn't know there were Swiss

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I never knew there was people
called Knut in the first place.

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No.

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He was the first and you're the second.

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Didn't you read about King Knut

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then I realized, yes,
um, could be more red.

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it is a different spelling though.

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It's a, it's a C not a K because
the British are, you know.

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Interesting with the spellings.

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well, if they put a C in front of an
N and if you rearrange the letters, it

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could be something very nasty.

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yeah, it could be, it could be.

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we won't do that

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do that

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the show.

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Anyway, fantastic.

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Here we are in Maribor.

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And how's the

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Yeah, I love, I love the weather.

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The weather's fantastic here.

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You know, it's cool and sunny.

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Crisp.

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It's the

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Yes.

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It's the sunny side of the Alps.

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That's the, the slogan of the conference.

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Yeah,

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I unironically thought it was
nice and warm coming from Finland.

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So it's actually pretty good.

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Anything's warm in the Finland really.

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So yeah.

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Yes.

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Yeah.

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Yes.

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And, and almost everything's colder
than Buenos Aires . So yeah, this

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is . This is an interesting opening.

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So, Filip, how, how's the last year
when we, when did we last talk to you?

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Jan?

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Three, I

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think.

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Yeah.

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I think it was January 3rd.

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Was it this year?

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this year

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Well, we, we talked like something,
something like November, uh, or, or

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December was when we recorded, but we

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I would release it January 3rd.

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Yeah, that

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So it's, it's almost a year.

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So I think we can actually ask
you, how has your year been?

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been an interesting year.

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Um, both, uh, Bitcoin and, uh, Bitcoin
wise for Jan three and personally as well.

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So where do I start?

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Um, 3 wise, released on Jan 3, the
day, the day we, we, uh, we, uh,

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you released this, our last, uh,
well, our first recording was, uh,

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when we released Aqua, the wallet.

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And, what a release.

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We, uh, It's grown organically
to about 45,000 downloads.

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We haven't marketed it, uh, and
actually spent on marketing.

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We've done it just in tweets and, and,
and, and, um, and social media stuff.

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And it's grown organically
because it's, uh, it's, it's

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actually a fantastic wallet.

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It's a, it's a go-to wallet for, uh,
for newcomers, onboarding new people.

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And it's going to be big in Latin
America because of its USDT exposure.

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I know us Bitcoin Maximists are not
really so much into USDT, but the

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truth is that USDT usage is much
bigger in Latin America than in the US.

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Bitcoin usage.

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So, we have to somehow leverage
that in Bitcoin's favor.

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So, they want USDT, they want US exposure,
and to actually get US, USD exposure,

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the real thing, it's difficult for a
lot of them, digitally and physically.

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So the next best or even better is
apparently a USDT tether and so we can

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offer that but the best thing is we do
it on Bitcoin rails, we do it on liquid,

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not on ERC 20, Tron or any of that stuff.

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What's genius about the wallet is we use
atomic swaps thanks to bolts to, so we

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can transfer, someone can transfer their
USDT on any shitcoin rail into our wallet.

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AquaWallet, and it will
come out as Bitcoin liquid.

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So it's one way of just, uh, of
just moving more stuff onto Bitcoin.

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So it's a, it's a shit kind of refinery

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Precisely that, yes, yes, and we're
trying to drive Bitcoin adoption

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because when people see, uh, so the
face, the, uh, the face of the wallet

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is that we have a savings account,
that's your normal Bitcoin main chain,

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and you have Bitcoin on liquid, which
is your liquid and lightning account,

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and then your USDT account, which,
so the liquid, uh, spending, sorry,

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you have your, Savings account,
spending account, and USDT account.

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And you can swap between one another
with fees that are getting better

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using bolts, atomic swaps, uh, Um,
and it's, it's, it's basically what

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we're trying to, what we're trying to
onboard the next billion people with.

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It's, you know, we have to make, we
have to make Bitcoin user friendly.

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Uh, it's, I think it's become, thanks to
innovations like Aqua and Liquid and, um,

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what we need to make as, as, as the slogan
is when you open the wallet sometimes,

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something that your grandmother can use.

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Excellent.

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And you're a frequent
user of the Aqua wallet.

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Like, look, you've used it more than I

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I mean, the instant it came out,
I downloaded it just out of like,

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hey, let's, let's, let's try this.

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I mean, you gave us the preview.

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So I knew I had to give it a try.

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And yeah, I'm a big fan of bolts.

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Generally, like, I read a
couple of lightning nodes now.

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And bolts is always my go to if I
need to get in and out of anything.

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Uh, through liquid.

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And so aqua having that built in already,
the, the, the only one UX problem that

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it's not even a problem, it's just that
it's slightly slower than other lightning

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wallets because of the, of the bolts swap.

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Well, we'll work on that.

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That's the way we are going to, on the
next, the next, the next spending round

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we're going to actually focus because
we are focused on more development

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and maybe a little bit of marketing.

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So, yeah, it's always, we're
always trying to improve it.

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And, uh, when we released it, it
was still kind of still in its beta

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form, so it's always going to be,
it's always going to be improved.

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And so we're going to let the market
help us out with, uh, with, with

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how, how, uh, how it can be improved.

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Well, no, but just, just, just to
actually, the, the user report on this

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from me is that it's, it's worked great.

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It's just that, it's just that you have
to, to sit there at the merchant for.

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30 seconds or something, uh, uh, in the
worst case to, for the transaction to

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go through, but, but it, the thing that
I've liked is that it's, it's actually

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something that is, it's 12 words back,
but you don't have to, to, uh, manage your

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channels or something, so it does make it

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And for someone like me, look,
I'm not tech friendly at all.

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I mean, okay, I am more than more than the
average person, but really not compared

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to the average Bitcoin and maybe less.

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So I've never opened
up a lightning channel.

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I could if I wanted to, I
do run an umbrella at home,

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but that's how tech I am.

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I have to use a built built
built up a node to run.

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So I run a node, but it's not a real node.

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I mean, it's a node, sorry,
umbrella, but it's still a

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node.

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It's more than average.

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Yeah.

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And, but I've ne I, I've never
opened up a lightning channel.

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I wouldn't be able to do it from scratch.

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I would probably need, uh, help from
a fellow Bitcoin on how to do that.

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So I have to rely on such technologies.

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And so something like, so if I re run
back to where I was when I first got

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onto Bitcoin 2017, uh, I had, someone
had to explain to me how to buy Bitcoin

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on Coinbase and then how to take it
off Coinbase and put it into my wallet

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and secure my 12, 12 words or 24 words.

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And hope, and then I didn't
have that person to teach me

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that not to buy anything else.

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I went, you know, loose and bought
whatever else there was on Coinbase

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because that's what you do is as a,
as a big, as a, as a novice to crypto.

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So.

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Um, anyway, going back to the thing,
the user, the, uh, wallets have,

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they've improved a lot since then,
I think, and I think, you know, big,

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big leaps from, uh, from people like,
uh, like Jan3 for Aqua wallets, and

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I see some other very good wallets
out there, is only going to speed up

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adoption, and that's what we want to do.

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Is actually help that we
want to help the individual.

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Bitcoin is all about
individual sovereignty.

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It's about individual financial
sovereignty, and the wallet

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is the best thing to do.

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Of course, we want to
take your, your keys off.

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You want to take your Bitcoin
off into cold storage, but you

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need to transact your Bitcoin.

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You need to have, and everyone has,
most people have a moola phone.

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That's what's gonna give
you financial sovereignty.

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That's how you can spend your Bitcoin.

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But you can also spend your
Bitcoin without a phone.

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But we're not gonna get to that

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Well, and you can, and I mean, the other
thing is, it's the, it's the opposite

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approach, when I hear that, uh, you know,
it's got the USDT rails and all this,

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you're, you're helping people to save.

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Yes, exactly.

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They see the savings account and we
open up their eyes to like, okay,

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wait, so the savings account in
Bitcoin, what, what's that Bitcoin

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liquid and lightning spending account?

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And then all of a sudden USCT, they
have it for USCT, but then they

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see how they say, okay, but then
the savings, okay, we might as well

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swap it into Bitcoin for saving.

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And then they'll see their savings
go up over time and they'll

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put more in there and more.

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There we go.

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Adoption.

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Magic internet money.

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Yeah.

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And speaking of like, so this wallet was
released a year ago and I recently saw the

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money electric, uh, documentary on HBO.

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Which featured a lot of you and

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Teach them more of Samson.

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and Peter Todd.

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I got roped into that by joining Jam

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3.

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Yeah, yeah, but there's great
footage of you drinking espressos

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Oh, good, good, good.

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As long as it's just espressos.

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I only saw espressos.

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Anyway, the whole thing is, it
was filmed during your travels

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with Samson about a year ago.

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So, and we're, We're seeing the fruits
of, of what you did there right now.

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Like we're seeing Maya
Parbhoe for instance, who we

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had on for like two months

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she's great.

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Yeah.

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uh, she's great.

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And I think she's actually got a chance of

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So she introduced us.

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The story was that, uh, last
November, was it last November?

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I'm,

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that was Timelines

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are difficult.

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you don't, yeah, just to clarify.

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So Maya Parbhoe is a presidential

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going to come to that.

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So I dunno, time for me.

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So since, since we last spoke,
Oh yeah, I guess my daughter

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was just born after we spoke.

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And so yeah, my second child.

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A lot has happened, so I'm trying
to get the dates together, but

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yeah, we, Maya, Maya introduced
Jan 3 to the president of Suriname.

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Uh, Samson and Ben went out to
Suriname, um, and that was, I'm trying

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to remember the date, but that's
really irrelevant at this point.

238
00:10:20,319 --> 00:10:24,259
And Maya was the one who did the
introduction, it was all touch and go,

239
00:10:24,259 --> 00:10:26,459
yes the president's going to see you,
no he's not going to see you, then

240
00:10:26,459 --> 00:10:28,579
we met with another minister, but the
president's not going to see you, but

241
00:10:28,579 --> 00:10:29,539
then finally they met the president.

242
00:10:30,114 --> 00:10:34,214
And they tried to, we tried to tell 'em
the story, how Bitcoin, as we usually

243
00:10:34,214 --> 00:10:38,204
do, if we get a, uh, a hookup with a,
with a, with a, with a, a high level

244
00:10:38,204 --> 00:10:41,749
politician is how Bitcoin can help you
and your, and your, and your citizens.

245
00:10:42,739 --> 00:10:47,969
What you can do with, how Bitcoin
can actually progress things further

246
00:10:47,969 --> 00:10:49,329
and how, that's how we sell Bitcoin.

247
00:10:49,329 --> 00:10:52,789
We're not, you know, we're trying to
tell them that Bitcoin, that we know that

248
00:10:52,789 --> 00:10:55,939
Bitcoin doesn't need politicians, but
politicians will end up needing Bitcoin.

249
00:10:56,269 --> 00:10:58,619
And we're trying to tell them that,
give them a little piece of the future.

250
00:10:59,279 --> 00:11:03,079
And, um, yeah, the reception was
okay, they were talking about maybe

251
00:11:03,079 --> 00:11:06,839
some strategic reserve, uh, Bitcoin
reserve, 1 percent of their, of

252
00:11:06,839 --> 00:11:09,279
their, of their treasury, something
like this, blah, blah, blah.

253
00:11:09,759 --> 00:11:12,109
But while this happened, Maya was the one
who introduced us, she's like, you know

254
00:11:12,109 --> 00:11:14,809
what, I don't really like what's going on
here, I'm going to take things into my own

255
00:11:14,809 --> 00:11:15,819
hands and I'm going to run for president.

256
00:11:16,459 --> 00:11:17,489
And now there's, yeah.

257
00:11:18,848 --> 00:11:19,548
So it's her

258
00:11:19,749 --> 00:11:22,999
her own, of course, she just decided,
I'm doing this, yeah, and obviously we're

259
00:11:23,159 --> 00:11:24,739
completely fully supporting her, yeah.

260
00:11:25,029 --> 00:11:26,069
She's, I mean, she's great.

261
00:11:26,109 --> 00:11:28,949
She's, uh, she's, uh, we wish, you
know, we're gonna, we're trying to

262
00:11:28,949 --> 00:11:32,279
support her as much as we can and we
wish her all the best because we need

263
00:11:32,279 --> 00:11:33,689
more, we need more Myers out there.

264
00:11:35,348 --> 00:11:36,098
Absolutely.

265
00:11:36,468 --> 00:11:40,408
And, and speaking of politics,
we just, uh, Trump was just

266
00:11:40,458 --> 00:11:42,688
reelected in the U S reelected.

267
00:11:42,688 --> 00:11:44,398
Is that the correct term for when?

268
00:11:44,428 --> 00:11:44,738
Yeah.

269
00:11:45,208 --> 00:11:45,988
And, uh,

270
00:11:46,004 --> 00:11:47,144
consecutively, but,

271
00:11:47,272 --> 00:11:53,588
consecutively, but non consecutively
reelected, uh, and you may think

272
00:11:53,838 --> 00:11:57,498
this or that about that, but the
Bitcoin price thought something

273
00:11:57,579 --> 00:12:00,039
yeah, Bitcoin oil always wins, so.

274
00:12:01,143 --> 00:12:01,413
Yeah.

275
00:12:01,413 --> 00:12:01,893
Yeah.

276
00:12:02,133 --> 00:12:06,003
I, I think it's interesting though
that the, uh, the entourage of people

277
00:12:06,003 --> 00:12:11,613
he has surrounded himself with, uh,
here, and we have Bitcoiners, uh,

278
00:12:12,223 --> 00:12:16,727
it like just one Kevin Bacon number
away from the White House now, so

279
00:12:16,959 --> 00:12:19,559
Samson met with RFK Jr.

280
00:12:19,559 --> 00:12:22,619
Uh, this was at the Bitcoin conference.

281
00:12:23,749 --> 00:12:27,029
Not, not the Nashville one, but
early in the year somewhere.

282
00:12:27,069 --> 00:12:27,559
Oh, I think it

283
00:12:27,587 --> 00:12:28,409
was the last year.

284
00:12:28,623 --> 00:12:28,923
Oh, my

285
00:12:28,999 --> 00:12:29,759
Oh, no, Miami.

286
00:12:29,759 --> 00:12:31,119
Sorry, you met in Miami as well.

287
00:12:31,119 --> 00:12:31,599
So does Sam.

288
00:12:31,619 --> 00:12:32,479
Yeah, you did.

289
00:12:32,489 --> 00:12:33,229
Yeah, exactly.

290
00:12:33,539 --> 00:12:38,109
And he's, he's becoming
understanding what Bitcoin is about.

291
00:12:38,589 --> 00:12:45,219
And obviously Trump is a big move from
Trump to talk about Bitcoin, to openly

292
00:12:45,289 --> 00:12:47,429
talk about it and use it on his platform.

293
00:12:48,109 --> 00:12:51,669
Obviously, he's, he's He's doing
it to improve his voter base.

294
00:12:51,669 --> 00:12:56,429
You understand that about 80 million
Americans own some form of crypto, and

295
00:12:57,069 --> 00:13:01,679
he realizes that that's an individual
voter base that he wants you to tap into,

296
00:13:01,679 --> 00:13:07,374
and if you're going to on crypto, yeah,
we will crap on crypto when you want to.

297
00:13:07,704 --> 00:13:12,094
Uh, if you're negative towards
crypto and bitcoin, then you're

298
00:13:12,094 --> 00:13:14,744
going to lose a lot of voters,
so I think he picked up on that.

299
00:13:14,754 --> 00:13:20,024
He has two of his sons, Baron and
Erik, who are both into bitcoin.

300
00:13:20,574 --> 00:13:24,064
Not too sure how maximalists they are,
but I'm sure they helped persuade him.

301
00:13:24,684 --> 00:13:29,484
And he was talking about, yeah, he was
talking about things like self, openly

302
00:13:29,514 --> 00:13:31,374
talking about self custody, which is huge.

303
00:13:32,164 --> 00:13:36,204
And a sitting, a former sitting
American president, now president

304
00:13:36,254 --> 00:13:40,504
elect, is talking about the right
to self custody, that is huge.

305
00:13:41,584 --> 00:13:46,264
and self, and a strategic bitcoin
reserve, which, to be honest, I mean,

306
00:13:46,264 --> 00:13:50,674
that's what's, uh, that's going to,
you know, Set off a huge, uh, game

307
00:13:50,684 --> 00:13:57,584
theoretic, uh, effect, but it's not, I
mean, it's gonna, not the best for the

308
00:13:57,584 --> 00:13:59,284
individual, but it's good for adoption.

309
00:13:59,384 --> 00:13:59,884
Put it that way.

310
00:14:01,503 --> 00:14:02,134
Yeah, it's good

311
00:14:02,223 --> 00:14:02,343
For

312
00:14:02,344 --> 00:14:03,624
number grow up is fantastic.

313
00:14:03,699 --> 00:14:03,964
Yeah.

314
00:14:04,783 --> 00:14:08,314
Number of, yeah, and not
only the the obvious number,

315
00:14:08,404 --> 00:14:11,604
as number goes up, then people
start to pay attention and you know,

316
00:14:11,604 --> 00:14:12,984
everyone always has always done.

317
00:14:12,994 --> 00:14:16,254
That's the number one adoption,
uh, indicate, not indicator, sorry.

318
00:14:16,294 --> 00:14:20,294
Um, uh, factor is how, how you
got in because number go up.

319
00:14:20,294 --> 00:14:20,624
So

320
00:14:21,763 --> 00:14:25,673
Yeah, one of the numbers that went
up is Google searches for Bitcoin.

321
00:14:25,763 --> 00:14:31,483
It already went up quite a
lot, and yeah, it's amazing.

322
00:14:31,483 --> 00:14:36,763
So, These journeys, like what
countries did you visit again?

323
00:14:36,943 --> 00:14:39,593
Like we're in Slovenia now,
there's a neighboring country

324
00:14:39,593 --> 00:14:41,643
to this one, uh, Liechtenstein,

325
00:14:41,899 --> 00:14:42,859
not too far from here.

326
00:14:42,859 --> 00:14:46,249
It's in the middle of, uh,
Switzerland and I was there last year.

327
00:14:46,399 --> 00:14:52,089
I spoke to Ha um, well, I was there
for a big, uh, not Bitcoin, sorry.

328
00:14:52,089 --> 00:14:52,599
It's called a pr.

329
00:14:52,629 --> 00:14:56,019
It's for the, um, lemme restart that.

330
00:14:56,019 --> 00:14:59,879
It was for an Austrian
economic conference.

331
00:14:59,879 --> 00:15:00,659
Yearly conference.

332
00:15:00,659 --> 00:15:04,859
I forgot the name of the Austrian
economists that they named the conference

333
00:15:04,859 --> 00:15:06,629
of some German name I can't pronounce.

334
00:15:07,199 --> 00:15:10,929
Uh, every year they hot, eh?

335
00:15:12,014 --> 00:15:12,794
No, definitely not Hopper.

336
00:15:13,934 --> 00:15:15,574
Someone, someone's not with us today.

337
00:15:15,594 --> 00:15:16,714
Hopper's definitely very alive.

338
00:15:17,594 --> 00:15:18,994
Alive and, there we go.

339
00:15:20,434 --> 00:15:22,094
It was Hopping, Hopping out.

340
00:15:24,034 --> 00:15:24,304
There we go.

341
00:15:24,414 --> 00:15:25,034
it down.

342
00:15:27,044 --> 00:15:27,494
There, boy.

343
00:15:27,984 --> 00:15:29,364
Yeah, we'll be fine with that.

344
00:15:29,364 --> 00:15:29,564
We'll be

345
00:15:29,684 --> 00:15:30,024
Okay.

346
00:15:30,464 --> 00:15:36,344
Uh, Anyway, forget about the name, um,
it was, it's organized by the cousin of

347
00:15:36,344 --> 00:15:40,744
the, of the, of the reigning king, uh,
prince, it's, uh, it's a principality.

348
00:15:41,034 --> 00:15:44,224
Prince Hans Adam's cousin, Prince
Michael and his, I don't know if it's

349
00:15:44,224 --> 00:15:47,934
brother or another cousin, Prince
Filip, are the ones, Prince Michael

350
00:15:47,934 --> 00:15:51,104
is the, uh, the president and founder
of the Austrian Economics Foundation

351
00:15:51,104 --> 00:15:54,234
of something in Liechtenstein,
organizes the yearly conference.

352
00:15:54,554 --> 00:15:56,654
And last year it was about private money.

353
00:15:56,834 --> 00:16:01,139
So they were arguing the case for
Bitcoin, for gold, for, uh, for Fiat and

354
00:16:02,834 --> 00:16:03,569
A Little visit.

355
00:16:03,764 --> 00:16:09,124
And, um, and that's where, uh,
I, I got the chance to, to speak

356
00:16:09,124 --> 00:16:11,804
to some, oh, there's my son.

357
00:16:12,074 --> 00:16:14,864
There's a chance I got to speak to
some of the, some of the royal family.

358
00:16:14,864 --> 00:16:17,714
And I spoke to Prince
Michael and he owns Bitcoin.

359
00:16:18,254 --> 00:16:21,974
I got to speak to hands, Adam, and he,
I think he signaled that he owns Bitcoin

360
00:16:21,974 --> 00:16:23,864
before in the past, or it does now.

361
00:16:24,194 --> 00:16:29,274
So, there are some other monarchs
out there who own Bitcoin.

362
00:16:29,694 --> 00:16:36,154
And talking about monarchs, um, last
year we found out that, um, last

363
00:16:36,154 --> 00:16:41,004
year we found out that the Kingdom
of Bhutan, you heard about this

364
00:16:41,004 --> 00:16:43,384
news, were, were mining Bitcoin.

365
00:16:43,394 --> 00:16:46,794
I want to say secretly because
their reply was that no one asked.

366
00:16:46,954 --> 00:16:48,944
They were mining Bitcoin
for about five years.

367
00:16:49,624 --> 00:16:53,644
Using the hydroelectricity capacity,
which is amazing, shows you that,

368
00:16:53,704 --> 00:16:55,384
uh, it's a kingdom, it's a monarchy.

369
00:16:55,934 --> 00:16:57,464
They understand the need for hard money.

370
00:16:57,464 --> 00:17:00,284
They have, they understand what
low, low, low time preference is.

371
00:17:00,284 --> 00:17:00,854
What's, uh.

372
00:17:01,624 --> 00:17:06,044
What's uh, uh, good decisions into the,
of making good decisions for the future.

373
00:17:06,084 --> 00:17:09,974
And so they took it upon themselves
to transform some of their excess

374
00:17:10,004 --> 00:17:14,384
energy from, from times of the
year when they have excess, uh,

375
00:17:14,424 --> 00:17:16,134
hydroelectricity to mine Bitcoin.

376
00:17:16,284 --> 00:17:19,834
And whenever that's stranded, whatever,
I don't know exactly the energy mix

377
00:17:19,834 --> 00:17:21,344
there, but they're mining Bitcoin.

378
00:17:23,213 --> 00:17:26,063
Correct me if I'm wrong, but I think
Bhutan is one of those countries that

379
00:17:26,063 --> 00:17:29,292
had a, has a really low GDP, right?

380
00:17:29,339 --> 00:17:30,209
Maybe was,

381
00:17:30,330 --> 00:17:35,010
to be honest, I'm not too sure
how the average person is, is,

382
00:17:35,010 --> 00:17:36,840
is, is fa uh, failing them.

383
00:17:36,840 --> 00:17:41,370
But it is not that you hear much about,
um, I try to, I I should have made an

384
00:17:41,370 --> 00:17:42,780
effort to look more into it, but, yeah.

385
00:17:44,554 --> 00:17:44,694
I,

386
00:17:44,880 --> 00:17:45,300
you know what?

387
00:17:45,300 --> 00:17:46,440
Let's lower look

388
00:17:46,584 --> 00:17:48,324
Bhutan.

389
00:17:48,404 --> 00:17:48,674
Yeah.

390
00:17:49,044 --> 00:17:49,214
Wait.

391
00:17:49,214 --> 00:17:49,404
Yeah.

392
00:17:49,424 --> 00:17:50,184
We'll need to look.

393
00:17:50,989 --> 00:17:51,989
Read up on Bhutan.

394
00:17:52,019 --> 00:17:53,539
That's the homework after this,

395
00:17:53,730 --> 00:17:54,360
There we go.

396
00:19:21,187 --> 00:19:26,507
And so what's kind of the strategic
game plan for Jan 3, 4, say the

397
00:19:26,517 --> 00:19:28,107
coming year, something like this?

398
00:19:28,597 --> 00:19:31,257
Any areas of focus that
you're able to talk about?

399
00:19:31,937 --> 00:19:34,997
I'd say the focus is
still heavily on latam.

400
00:19:35,447 --> 00:19:38,507
That's where we see Bitcoin
adoption as the ripest.

401
00:19:39,147 --> 00:19:45,157
Uh, for either, either for
legal tender or for strategic

402
00:19:46,147 --> 00:19:48,687
Bitcoin, um, reserve allocation.

403
00:19:48,717 --> 00:19:55,437
So, we are, we are speaking to
several nation states and nothing

404
00:19:55,437 --> 00:19:57,297
is, nothing is clear at this point.

405
00:19:57,347 --> 00:20:00,737
But, uh, there is,
there is talk out there.

406
00:20:01,117 --> 00:20:04,047
So, I can't mention
anything because I'm, yeah,

407
00:20:05,226 --> 00:20:05,586
no, no.

408
00:20:05,596 --> 00:20:09,946
This is, this is why this is the
hard to discuss because like half

409
00:20:10,042 --> 00:20:13,342
One, one thing, one thing is, you
know, we're noticing a lot more talk

410
00:20:13,352 --> 00:20:15,862
about it, a lot more interest, a
lot more people talking, a lot more

411
00:20:15,862 --> 00:20:19,622
people getting involved out there, a
lot more Bitcoiners reaching out to

412
00:20:19,622 --> 00:20:21,962
politicians, a lot more initiatives.

413
00:20:22,012 --> 00:20:22,882
It's fantastic.

414
00:20:22,882 --> 00:20:24,922
Those Bitcoiners are hardworking people.

415
00:20:25,507 --> 00:20:30,067
And they understand that, uh, yeah,
Bitcoin, it's, we know, this is Jan 3

416
00:20:30,097 --> 00:20:33,747
ethos is that, yes, we understand that
Bitcoin is a bottom up strategy, it's a

417
00:20:33,747 --> 00:20:38,627
grassroots network effort that you can't,
that you can't stop essentially, but,

418
00:20:38,677 --> 00:20:42,417
and as I said before, it's politicians,
um, that doesn't really care about

419
00:20:42,417 --> 00:20:46,027
politicians, but politicians have to care
about Bitcoin at some point, so we see

420
00:20:46,027 --> 00:20:47,767
that, uh, that we have to go and speak.

421
00:20:48,637 --> 00:20:51,427
And spread the word of Bitcoin
and we can leverage politicians

422
00:20:51,432 --> 00:20:52,777
in, in Bitcoin's favors.

423
00:20:52,777 --> 00:20:55,777
So it could kind of be, it kind of,
it's kinda a bit like Bitcoin doesn't

424
00:20:55,777 --> 00:20:58,657
have money for marketing, so we have
to find a way to market Bitcoin.

425
00:20:59,427 --> 00:21:03,187
And since there's a lot of
government out there, we're gonna

426
00:21:03,187 --> 00:21:07,237
use that to our favor and teach 'em
about what Bitcoin, how Bitcoin.

427
00:21:07,902 --> 00:21:10,642
It's going to shape and change
the future for the better, and

428
00:21:11,222 --> 00:21:12,672
tell them how it can help them.

429
00:21:13,232 --> 00:21:19,012
The benefits of mining, of self custody,
of, uh, of, of, um, store of value,

430
00:21:19,482 --> 00:21:22,972
media of exchange and everything,
and, and hopefully they'll understand.

431
00:21:23,582 --> 00:21:27,002
And at the day, if you just get a
picture, a photo up with a, with a,

432
00:21:27,012 --> 00:21:31,072
with a president, prime minister,
minister, with a, a big bitcoin,

433
00:21:31,072 --> 00:21:32,622
that is good marketing for bitcoin.

434
00:21:32,792 --> 00:21:34,292
So, that's what we're trying to achieve.

435
00:21:35,910 --> 00:21:37,270
See, everything is good for

436
00:21:37,661 --> 00:21:38,081
Yeah.

437
00:21:38,491 --> 00:21:41,181
And on top of that, of course,
uh, Acro Wallet as well.

438
00:21:41,201 --> 00:21:43,291
So that's our bottom up initiative.

439
00:21:43,431 --> 00:21:46,891
Uh, and it's, uh, the numbers speak
for themselves and we're, we're, we

440
00:21:46,891 --> 00:21:48,961
haven't even, um, gotten started yet.

441
00:21:48,961 --> 00:21:52,801
So it's, it's, it's, we're, we've got
a, we've got a lot of, a lot of work

442
00:21:52,811 --> 00:21:54,071
ahead of us, but it's looking good.

443
00:21:55,131 --> 00:21:59,231
Yeah, so you are kind of taking
this double ended strategy, right?

444
00:21:59,231 --> 00:22:02,591
Like that it's bottom up
through the wallet, but top down

445
00:22:02,681 --> 00:22:03,511
some top down.

446
00:22:03,571 --> 00:22:04,081
Yeah.

447
00:22:04,141 --> 00:22:09,441
And at the moment, what's kind of,
um, In the bottom up approach, uh,

448
00:22:09,451 --> 00:22:14,191
uh, Aqua can't actually see anything,
like, in terms of, uh, volumes, as

449
00:22:14,191 --> 00:22:17,211
I understand it, because it's, it's
self, it's actually a self custody

450
00:22:17,211 --> 00:22:19,111
wallet, the users hold their own keys,

451
00:22:19,186 --> 00:22:20,736
Open source self custody, yep.

452
00:22:20,876 --> 00:22:22,106
It's fantastic.

453
00:22:22,106 --> 00:22:26,856
So in terms of the number of users,
do you see there being like, more

454
00:22:26,866 --> 00:22:29,616
important to get more money into
Bitcoin or more people into Bitcoin?

455
00:22:30,936 --> 00:22:31,906
That's a good question.

456
00:22:33,126 --> 00:22:34,466
Well, I think more people, of course.

457
00:22:34,936 --> 00:22:39,306
Yeah, but more money does help the
price, but more people helps humanity.

458
00:22:41,216 --> 00:22:42,036
That's a very good answer.

459
00:22:43,780 --> 00:22:45,430
That's a good, that's a good answer.

460
00:22:45,640 --> 00:22:50,260
But also one could argue that more
money in Bitcoin makes the money better.

461
00:22:50,280 --> 00:22:51,120
And that

462
00:22:51,466 --> 00:22:53,336
both can, both can help the

463
00:22:53,364 --> 00:22:53,626
other.

464
00:22:54,400 --> 00:22:55,970
Both can be true at the same time.

465
00:22:56,040 --> 00:22:56,600
Yeah.

466
00:22:57,616 --> 00:23:02,726
Not to drive us too technically, mostly
out of that, yeah, kind of, I think we

467
00:23:03,306 --> 00:23:07,116
sometimes dip our toes in the technical
stuff, but I think we'll keep this

468
00:23:07,116 --> 00:23:08,596
in the philosophical space for now.

469
00:23:08,946 --> 00:23:14,006
Um, the, one of the issues that's
going to come up eventually is that

470
00:23:14,006 --> 00:23:17,176
people aren't going to, individuals
aren't going to be able to take, self

471
00:23:17,196 --> 00:23:22,256
custody of their Bitcoin or use it in
a fully self sovereign way, the, the

472
00:23:22,286 --> 00:23:26,616
total number of transactions that any
one person is allocated over a 70 year

473
00:23:26,616 --> 00:23:31,266
time frame, mathematically, then mostly
competitive blocks is two per person.

474
00:23:31,341 --> 00:23:31,661
Yes,

475
00:23:33,836 --> 00:23:38,646
do you see any kind of role here for
building up kind of this infrastructure

476
00:23:38,646 --> 00:23:42,656
for people to be able to sort of self
custody their bitcoin but they're not

477
00:23:42,656 --> 00:23:47,636
necessarily going to use the base layer
and thereby they're not going to run

478
00:23:47,636 --> 00:23:50,651
into a problem where they can't get into
the next block, something like this?

479
00:23:50,781 --> 00:23:51,891
very good question.

480
00:23:52,111 --> 00:23:54,971
How Finney foresaw this years ago?

481
00:23:55,681 --> 00:23:57,171
Um, God bless him.

482
00:23:57,511 --> 00:24:03,531
Uh, he said something on the lines of that
it would be in some time in the future

483
00:24:03,641 --> 00:24:07,771
with when Bitcoin is, uh, is heavily
adopted, that it would just be big.

484
00:24:08,676 --> 00:24:11,936
Big reserves of banks or institutions
that will be doing, that will be

485
00:24:11,956 --> 00:24:16,116
transacting billion dollars worth
or whatever what value it is at that

486
00:24:16,116 --> 00:24:18,556
point on the main, on the main chain.

487
00:24:19,116 --> 00:24:22,716
So we'll be left using a layer 2,
layer 3, maybe layer 4, whatever.

488
00:24:22,716 --> 00:24:26,457
I don't know what's going to go
happen, but I think the principle

489
00:24:26,457 --> 00:24:30,477
of what is Bitcoin is that it's
hard money and you can't print more

490
00:24:30,477 --> 00:24:31,887
of it and that still stays true.

491
00:24:31,917 --> 00:24:35,667
And as long as it's connected to the
main, to the main chain and not in some,

492
00:24:35,857 --> 00:24:42,187
um, some, something else, uh, if, if,
if, if it's done properly, like liquid

493
00:24:42,187 --> 00:24:45,847
or lightning, I mean, which it will be,
that's where the adoption will happen.

494
00:24:45,877 --> 00:24:49,977
And that's where you need to, uh, to,
to, to increase the adoption numbers

495
00:24:49,977 --> 00:24:52,787
and to increase the speed of Bitcoin,
not by changing the main chain.

496
00:24:52,797 --> 00:24:53,757
The main chain is perfect.

497
00:24:54,652 --> 00:24:55,972
In our eyes, my eyes anyway.

498
00:24:58,836 --> 00:25:05,316
Yeah, I, uh, the, um, lightning, uh,
often lightning network gets criticized,

499
00:25:05,436 --> 00:25:10,686
uh, every now and then for being too,
for being centralized and like it's

500
00:25:10,686 --> 00:25:15,156
custodial, uh, more and more custodial
and not very many people run their

501
00:25:15,156 --> 00:25:18,816
own lightning nodes because it's damn
hard to run, run a lightning note.

502
00:25:19,146 --> 00:25:22,976
But I, I still think that, uh,
custodial lightning is still better

503
00:25:22,976 --> 00:25:26,396
than banking because it's way
harder to do fractional reserve.

504
00:25:26,962 --> 00:25:31,132
And that's just another thing with,
um, with a user experience, improvement

505
00:25:31,132 --> 00:25:33,702
of user experience, and the same thing
will happen with Lightning Channels.

506
00:25:34,062 --> 00:25:38,602
I think you will get a lot more, um,
corporations opening up Lightning

507
00:25:38,602 --> 00:25:42,152
Channels around the world and you'll
get, uh, but hopefully aligning

508
00:25:42,152 --> 00:25:44,012
with the ethos of what is Bitcoin.

509
00:25:44,022 --> 00:25:45,592
You will get a lot more
Lightning adoption.

510
00:25:46,532 --> 00:25:50,992
And Liquid as well, it's a federation,
you have about 10 to 15 companies

511
00:25:50,992 --> 00:25:52,072
that have to agree to that.

512
00:25:52,082 --> 00:25:55,742
So that will increase as well and
become even more decentralized.

513
00:25:57,077 --> 00:26:02,417
And also that's Li Liquid also is gonna
help, help, helps the transition from

514
00:26:02,417 --> 00:26:07,097
the traditional finance tradify as people
like to call it, to, uh, to uh, Bitcoin

515
00:26:07,097 --> 00:26:09,467
finance, to the real, to the real finance.

516
00:26:09,977 --> 00:26:13,092
Uh, as you can, you can, you can
financialize a lot of the stuff that's

517
00:26:13,092 --> 00:26:16,517
already, that's already, that's existing
in Tradify you can do with liquid.

518
00:26:17,112 --> 00:26:20,612
So, that's one way of, of,
because we also, we don't want

519
00:26:20,612 --> 00:26:23,462
that to be a shock in the system.

520
00:26:23,462 --> 00:26:29,387
We don't want to just say all of a
sudden, I mean, markets, when they are

521
00:26:29,437 --> 00:26:32,807
left to themselves and when there's
no interventionism, do go through,

522
00:26:33,397 --> 00:26:40,677
um, shocks, moments of, uh, of, uh,
deflation and this has happened, it

523
00:26:40,677 --> 00:26:44,727
happened under the gold standard, but
it corrects itself and it improves.

524
00:26:45,187 --> 00:26:49,217
And there's always a period of growth
and a contraction period and people, and

525
00:26:49,717 --> 00:26:51,397
then it builds up again and contracts.

526
00:26:51,677 --> 00:26:54,527
This was always something that happened
under the gold standard, but since fiat

527
00:26:54,527 --> 00:27:01,837
was introduced, it happens more, but then
now, not happens more, but it happens

528
00:27:01,957 --> 00:27:06,107
more extreme, and they intervene more,
and now we're at the point where they

529
00:27:06,107 --> 00:27:11,097
don't, they're intervening, so they're not
letting it naturally, um, Pullback, as it

530
00:27:11,097 --> 00:27:13,017
should do, having that massive correction.

531
00:27:13,027 --> 00:27:15,937
The last massive correction
that we had was 2008.

532
00:27:16,547 --> 00:27:21,367
We haven't had, okay, we, 2020 was,
uh, with, with, with the pandemic was

533
00:27:21,367 --> 00:27:23,707
something, but, uh, it was not done.

534
00:27:24,408 --> 00:27:26,048
it wasn't done naturally, basically.

535
00:27:26,288 --> 00:27:29,568
And there was a lot of interventionism
went in, a lot of stimulus went into this.

536
00:27:29,568 --> 00:27:32,698
And this is the thing, this is a problem
about, about, about fiat is, is that

537
00:27:32,738 --> 00:27:36,158
it's highly manipulated and you're just
kicking the can further down the road.

538
00:27:36,478 --> 00:27:40,608
And now the, uh, debt bubble
has gone to some insane amounts

539
00:27:40,608 --> 00:27:41,738
of debt around the world.

540
00:27:43,073 --> 00:27:50,275
it's, uh, like 2008, uh, the, the, um,
that was mitigated by bailing out the

541
00:27:50,346 --> 00:27:51,496
it wasn't a full correction

542
00:27:51,510 --> 00:27:52,350
it wasn't a full correction.

543
00:27:52,610 --> 00:27:53,575
No, it was

544
00:27:53,686 --> 00:27:57,946
but it was big, but it was not, it was
not like nothing that would have happened

545
00:27:57,946 --> 00:28:00,846
if there were, if no such thing as,
uh, as what, if we couldn't intervene.

546
00:28:02,025 --> 00:28:06,115
No, and if this too big to fail
mentality keeps going, like what

547
00:28:06,135 --> 00:28:09,405
will inevitably happen is that
everything becomes a zombie company.

548
00:28:09,415 --> 00:28:11,755
And then all of a sudden nothing works.

549
00:28:12,065 --> 00:28:14,805
And that's just what
we're seeing right now.

550
00:28:14,805 --> 00:28:16,695
Like the stimulus doesn't work.

551
00:28:16,705 --> 00:28:21,625
It doesn't, people's lives are
not getting easier anymore because

552
00:28:21,625 --> 00:28:22,465
they're doing these things.

553
00:28:22,475 --> 00:28:23,935
So there's, we've been on

554
00:28:24,186 --> 00:28:30,478
it's just accentuating the, the, the, what
you call it, the, the Cantillon effect.

555
00:28:30,798 --> 00:28:33,198
As just making properties.

556
00:28:34,323 --> 00:28:39,903
More appealing, therefore out of reach for
the average person, and which is a clear,

557
00:28:39,953 --> 00:28:44,773
clear trend we've seen over the last 20
years, since the last financial crisis,

558
00:28:44,773 --> 00:28:49,815
and it's only getting worse, and the
more they print, the more they intervene,

559
00:28:49,815 --> 00:28:54,303
the more money they put into the system,
um, the more it goes into properties

560
00:28:54,303 --> 00:28:58,628
for the richer people, and Obviously I'm
not blaming on rich people, that's what

561
00:28:58,628 --> 00:29:01,978
you would do if you had the money and
the ability, but you can't, you know,

562
00:29:01,978 --> 00:29:06,908
property is not like Bitcoin, um, property
isn't, real estate is not like Bitcoin.

563
00:29:06,918 --> 00:29:10,938
Now we finally have an opportunity where
we can actually have real property,

564
00:29:11,688 --> 00:29:16,188
and that, and that is you can actually
buy a fraction, a fraction, it's not

565
00:29:16,188 --> 00:29:19,668
even a fraction, so you can buy a bit
of property which is yours, no one

566
00:29:19,668 --> 00:29:24,878
else's, indisputable, technically tax
intervention free, It doesn't matter,

567
00:29:24,878 --> 00:29:28,568
it doesn't care about jurisdictions, it
can exist anywhere, in your head, so,

568
00:29:28,978 --> 00:29:30,418
they can't tax your head essentially.

569
00:29:31,198 --> 00:29:38,376
so, that's, so that's why it's so
powerful, so, um, yeah, at the end of the

570
00:29:38,376 --> 00:29:42,668
day, Bitcoin is gonna take, it's gonna,
it's, this is what we, what we foresee

571
00:29:42,688 --> 00:29:47,113
is like, as adoption grows, Normal folk.

572
00:29:47,143 --> 00:29:47,923
I say normal folk.

573
00:29:47,923 --> 00:29:51,223
The average folk is gonna, is gonna
see the, the need to buy a Bitcoin.

574
00:29:51,223 --> 00:29:53,613
It's 'cause it's their only
way of getting property.

575
00:29:54,023 --> 00:29:57,953
Only way of securing some sort of
financial, um, security for the future.

576
00:29:58,513 --> 00:30:00,223
And that's gonna help, uh, grow.

577
00:30:00,463 --> 00:30:01,933
It's gonna help them for the future.

578
00:30:01,933 --> 00:30:04,843
It's gonna help, uh, their children,
it's gonna help their community.

579
00:30:05,503 --> 00:30:09,623
And in the long run, that's, uh,
it's going to make properties

580
00:30:09,663 --> 00:30:10,733
actually less appealing.

581
00:30:10,783 --> 00:30:13,883
And so at one point you might get
to the point where properties will

582
00:30:13,943 --> 00:30:16,243
go down to just their utility value.

583
00:30:17,720 --> 00:30:20,130
Yes, and this is, it already is if you

584
00:30:20,130 --> 00:30:23,700
don't nominate in Bitcoin, like, and
that's, that's the thing, like, that's

585
00:30:23,700 --> 00:30:29,015
how we put it in the new book, It's
like, if you, If you practice doing

586
00:30:29,015 --> 00:30:33,845
something, do you usually get better or
worse at that thing you're practicing?

587
00:30:34,925 --> 00:30:37,625
And of course you get better,
like, most of the time.

588
00:30:38,085 --> 00:30:41,125
So why aren't all prices
going down forever?

589
00:30:41,175 --> 00:30:43,285
That should be the obvious
follow up question.

590
00:30:44,875 --> 00:30:48,945
But people live in this fantasy
world where they think that I think

591
00:30:48,945 --> 00:30:52,415
that their houses are actually going
up in value, but that's not, it's

592
00:30:52,471 --> 00:30:53,081
down in value,

593
00:30:53,081 --> 00:30:53,491
yes.

594
00:30:53,585 --> 00:30:53,845
the value.

595
00:30:54,195 --> 00:30:58,155
Yeah, and so everything
else becomes money instead.

596
00:30:58,165 --> 00:30:59,975
It's a Big everything bubble.

597
00:31:00,375 --> 00:31:04,905
And the only way to see that
happening is by using, is by

598
00:31:04,915 --> 00:31:06,685
seeing it through a bitcoin lens.

599
00:31:07,015 --> 00:31:12,365
Otherwise you're not, you're falling for
it and you can't see that it's happening.

600
00:31:12,725 --> 00:31:13,685
You need bitcoin to

601
00:31:13,881 --> 00:31:16,221
you have to look at it
the other way, completely.

602
00:31:16,221 --> 00:31:17,601
The inverse, as your book is

603
00:31:17,623 --> 00:31:18,168
called, yes.

604
00:31:18,271 --> 00:31:22,781
It's, it's, it's counterintuitive almost
to how we're being taught, how we're being

605
00:31:22,961 --> 00:31:26,521
indoctrinated to taught, but we're not
really taught what money is at school.

606
00:31:26,521 --> 00:31:28,341
We're not taught how the system works.

607
00:31:28,981 --> 00:31:34,251
And you're taught that, well you're
taught in economics class, in standard

608
00:31:34,251 --> 00:31:37,841
economics class, which is Keynesianism,
is that inflation is good for growth.

609
00:31:38,776 --> 00:31:40,796
They think that's because, but
then they don't actually tell

610
00:31:40,796 --> 00:31:42,286
you how inflation comes about.

611
00:31:43,066 --> 00:31:44,886
They don't talk about
increasing money supply.

612
00:31:45,366 --> 00:31:48,956
And that also means that you're,
they're taking away value from

613
00:31:48,956 --> 00:31:51,316
um, um, from your hard earned

614
00:31:51,966 --> 00:31:52,426
property.

615
00:31:53,025 --> 00:31:53,815
It is, it is

616
00:31:54,326 --> 00:31:55,706
people's time and money.

617
00:31:55,746 --> 00:31:57,286
Yeah, people's time, people's energy.

618
00:31:57,536 --> 00:32:00,386
Isn't it that there's a misconception
between inflation as actually

619
00:32:01,156 --> 00:32:04,076
the increase in prices versus
the increase in money supply?

620
00:32:04,156 --> 00:32:07,886
Because there are things that in
the low level increase certain

621
00:32:08,126 --> 00:32:14,341
yeah, you have uh, you have um, Um,
natural disasters that will increase,

622
00:32:14,351 --> 00:32:18,621
obviously some resources get, um,
food, supplies get cut off, so

623
00:32:18,621 --> 00:32:21,611
there's a net, but that's, that's a
very small percentage of inflation

624
00:32:21,668 --> 00:32:21,831
really.

625
00:32:22,735 --> 00:32:26,995
No, but they, they, they're
deliberately trying to, to, uh, uh,

626
00:32:27,235 --> 00:32:32,735
dilute the word because they, they,
uh, inflation is officially mess

627
00:32:32,775 --> 00:32:35,695
measured from some basket, like a CPI.

628
00:32:35,831 --> 00:32:41,781
The CPI basket is, uh, has been, it's,
it's, those are the official numbers, but

629
00:32:41,781 --> 00:32:46,361
the way they measure the CPI is, uh, is
not actually correct, not very correct.

630
00:32:46,991 --> 00:32:51,261
Uh, they, they, they, they pick a basket
of goods at that given time, for example,

631
00:32:51,511 --> 00:32:55,911
so if something, uh, when those baskets
of goods, if the average price of that

632
00:32:55,911 --> 00:33:00,071
basket goes up, inflation goes up, then
things go in and out of the basket.

633
00:33:00,161 --> 00:33:00,711
That's the

634
00:33:01,085 --> 00:33:03,025
yeah, and there's no

635
00:33:03,035 --> 00:33:03,893
real estate or

636
00:33:04,001 --> 00:33:04,641
exactly.

637
00:33:04,711 --> 00:33:08,451
No, there's no, so you're
like your staple items.

638
00:33:08,451 --> 00:33:11,861
I say that, uh, I think one example was
like, you know, you have your steak.

639
00:33:12,381 --> 00:33:14,021
You're beefing there and that goes up.

640
00:33:14,041 --> 00:33:15,621
Let's say it goes double in price.

641
00:33:15,661 --> 00:33:17,121
People can't afford beef anymore.

642
00:33:17,121 --> 00:33:19,151
So they go for, uh, for, for

643
00:33:19,401 --> 00:33:19,811
chicken.

644
00:33:20,608 --> 00:33:21,135
Impossible

645
00:33:21,221 --> 00:33:24,741
Or they go for soy, some soy
products, some replacement protein,

646
00:33:25,841 --> 00:33:28,721
which only goes up, let's say 10
percent or something like that.

647
00:33:28,741 --> 00:33:30,891
So they replace the, the, the item.

648
00:33:30,891 --> 00:33:33,171
So they'll take beef
out and put, put soy in.

649
00:33:33,511 --> 00:33:33,741
So

650
00:33:35,160 --> 00:33:40,340
Now I read a Rothbard book on the
flight to Amsterdam, it's that

651
00:33:40,370 --> 00:33:44,570
like a month back, it's called what
has government done to our money.

652
00:33:44,980 --> 00:33:51,310
And he puts it so clearly, like,
the bill, the monetary bill was

653
00:33:51,320 --> 00:33:53,250
first a receipt for something.

654
00:33:53,870 --> 00:33:57,340
Like it was a receipt for a commodity
you put in a bank, usually gold.

655
00:33:57,875 --> 00:34:03,255
And if you don't get that amount of
gold back when you turn in the receipt,

656
00:34:03,425 --> 00:34:05,675
then someone stole gold from you.

657
00:34:06,305 --> 00:34:07,505
It's that easy.

658
00:34:08,085 --> 00:34:11,285
And so inflation is always theft.

659
00:34:11,405 --> 00:34:13,175
Someone is always stealing something.

660
00:34:13,915 --> 00:34:14,445
And this is what

661
00:34:14,541 --> 00:34:18,496
They don't understand that when
you Trusting a third party with

662
00:34:18,506 --> 00:34:22,046
something and they give, okay, they
give you back a receipt for that.

663
00:34:22,976 --> 00:34:27,706
That item, that third party, and then
you can go back and claim your, your

664
00:34:27,726 --> 00:34:32,086
item with that note, but not everyone
goes back and claims at the same time.

665
00:34:32,576 --> 00:34:36,456
So that third party realizes that they
can start doing stuff, like say they have

666
00:34:36,456 --> 00:34:39,926
more of that thing than they actually do
and they start lending it out and stuff.

667
00:34:39,926 --> 00:34:43,496
So then, yeah, that's how,
that's how humans, humans always,

668
00:34:43,516 --> 00:34:44,886
always looking for a way around.

669
00:34:45,836 --> 00:34:49,276
And the thing is that system would
have actually been completely fine

670
00:34:49,596 --> 00:34:52,376
if it weren't for interventions, if
it weren't for central banks, right?

671
00:34:52,686 --> 00:34:53,906
It would have corrected itself

672
00:34:53,956 --> 00:34:57,716
yes, there would have been failures,
of course people would have lost, but

673
00:34:58,236 --> 00:34:59,776
the system wouldn't have been able to

674
00:35:00,126 --> 00:35:01,966
because it was backed by
gold at the end of the day.

675
00:35:02,026 --> 00:35:03,506
People would have come
claiming their gold.

676
00:35:03,701 --> 00:35:04,606
that's yeah.

677
00:35:04,905 --> 00:35:05,115
yeah.

678
00:35:05,115 --> 00:35:07,185
And banks will, that's what happened.

679
00:35:07,185 --> 00:35:11,206
Like, uh, in the 19th century,
for instance, the free banking,

680
00:35:11,206 --> 00:35:11,480
banking, banking, the free banking,

681
00:35:11,726 --> 00:35:13,796
can, back in the days you
could say, where's my gold?

682
00:35:13,806 --> 00:35:15,566
Now you say, where's my
money, but what money?

683
00:35:17,325 --> 00:35:17,925
Yeah, exactly.

684
00:35:18,405 --> 00:35:22,665
The, the way I see it, the money
in your, on your bank account is

685
00:35:22,665 --> 00:35:25,965
a two outta three multisig between
you, the bank and the state.

686
00:35:26,291 --> 00:35:29,741
And the state really has an extra
override key at the end of the day too.

687
00:35:30,825 --> 00:35:31,125
Yes.

688
00:35:31,215 --> 00:35:32,445
And they can print more of it.

689
00:35:33,336 --> 00:35:37,776
Yeah, it's very, it's, it's,
it's not pretty and look what's

690
00:35:37,786 --> 00:35:40,956
happening today, but we have a, we
have a solution, which is great.

691
00:35:41,056 --> 00:35:41,096
Great

692
00:35:42,021 --> 00:35:45,391
Have you thought about if fractional
reserve banking is still going

693
00:35:45,391 --> 00:35:47,401
to be possible on Bitcoin?

694
00:35:48,541 --> 00:35:52,941
I think there, um, some people
will still and a full, I think

695
00:35:52,941 --> 00:35:54,171
a country that's fully adopted.

696
00:35:54,171 --> 00:35:54,321
It.

697
00:35:54,381 --> 00:35:54,831
No,

698
00:35:56,335 --> 00:36:00,015
I think there's nothing morally
wrong with it, as long as the

699
00:36:00,015 --> 00:36:02,215
customer knows that it's going on.

700
00:36:02,505 --> 00:36:06,915
So if it's transparent, so if the bank
says, okay, you can open an account here,

701
00:36:06,915 --> 00:36:11,345
but we're gonna use some of your bitcoin
and buy microstrategy stock with it, or

702
00:36:11,345 --> 00:36:17,945
whatever, or chairs, whatever they're
buying, fine art, real estate, then

703
00:36:19,995 --> 00:36:22,995
the problem is that the client
doesn't know that this is going on.

704
00:36:23,401 --> 00:36:24,361
that's the question.

705
00:36:24,361 --> 00:36:28,081
When you sign, when you buy a buy, when
you open an account with a fiat bank,

706
00:36:28,551 --> 00:36:30,201
is this in the, in the small print?

707
00:36:31,811 --> 00:36:33,581
I would assume it would be, in fact, yeah.

708
00:36:34,710 --> 00:36:36,080
No, the money printing is

709
00:36:36,411 --> 00:36:37,131
Money printing is

710
00:36:37,210 --> 00:36:43,620
print, and, you know, there's nothing,
if you open a bank account in Sweden,

711
00:36:43,620 --> 00:36:45,550
there's nothing about the petrodollar, for

712
00:36:45,581 --> 00:36:47,721
I just had a minor aha moment.

713
00:36:48,021 --> 00:36:49,621
No, no, no, that is the difference.

714
00:36:49,631 --> 00:36:54,481
It's that the fractional reserve itself,
as in the lending, can still happen.

715
00:36:54,871 --> 00:36:58,161
But since you don't have the
money printer behind it anymore,

716
00:36:58,411 --> 00:36:59,601
then it loses all the power.

717
00:36:59,611 --> 00:37:03,311
You can't leverage it nine times,
you can't leverage it ten times.

718
00:37:03,876 --> 00:37:04,846
Three times, you know,

719
00:37:04,991 --> 00:37:07,511
At the end of the day, if you are
under pure, let's say the whole world

720
00:37:07,541 --> 00:37:13,061
theoreticals under the Bitcoin standard,
um, fraction was you would, lending

721
00:37:13,061 --> 00:37:16,031
would become less of a thing because your
value of Bitcoin will keep on going up.

722
00:37:16,031 --> 00:37:17,951
So you'd be more incentivized to save it.

723
00:37:18,226 --> 00:37:23,146
And so you want, uh, borrowing would be,
would be, would be less prevalent, much

724
00:37:23,146 --> 00:37:26,006
less prevalent, because you can actually
save for the stuff that you want, like

725
00:37:26,006 --> 00:37:29,506
a house, everything will be reduced
to this utility value, will not be as

726
00:37:29,506 --> 00:37:34,766
financialized or commoditized as it is
today, and inflated like it is today,

727
00:37:34,806 --> 00:37:36,011
and it will just be to its own advantage.

728
00:37:36,731 --> 00:37:41,181
Base value, utility, whatever
it's, whatever, you know, um,

729
00:37:41,261 --> 00:37:43,061
how, how it should be valued.

730
00:37:43,311 --> 00:37:45,071
And things will get cheaper over time.

731
00:37:45,651 --> 00:37:49,121
So, the need for borrowing would,
would, would, wouldn't really happen.

732
00:37:49,121 --> 00:37:51,951
It would be done that, of course,
people will need some last minute

733
00:37:51,951 --> 00:37:56,191
loans and, uh, and, and for, for, for
some unexpected, uh, circumstances.

734
00:37:56,931 --> 00:38:00,101
But then they, yeah, that's,
that's pretty much it, I, I reckon.

735
00:38:00,111 --> 00:38:00,371
So.

736
00:38:02,070 --> 00:38:06,770
yeah, and the thing is, the interest
rates are low now, because they're

737
00:38:06,770 --> 00:38:13,320
artificially low, but on a free market,
like, sure, the interest rates are high on

738
00:38:13,320 --> 00:38:21,500
a Obviously higher, probably, on a Bitcoin
standard, but in a free market, interest

739
00:38:21,500 --> 00:38:26,660
rates fall over time, because if I can
give you a loan with a better interest

740
00:38:26,660 --> 00:38:28,310
rate, you will choose my bank instead

741
00:38:28,401 --> 00:38:29,771
free market, that's great, yeah.

742
00:38:30,040 --> 00:38:33,770
yeah, yeah, so that's how it's,
they're supposed to go down, like, and

743
00:38:33,770 --> 00:38:35,211
they're also falling to the marginal

744
00:38:35,441 --> 00:38:36,471
That's it, exactly.

745
00:38:36,495 --> 00:38:39,465
Like, yeah, uh, so this
can happen naturally.

746
00:38:39,465 --> 00:38:44,735
We can have a very sound, ethical,
um, borrowing and lending system.

747
00:38:44,775 --> 00:38:48,875
It does not, like, borrowing and
lending are not inherently unethical.

748
00:38:48,915 --> 00:38:50,855
It's the, it's the
fractional reserve thing.

749
00:38:50,855 --> 00:38:51,025
It's

750
00:38:51,211 --> 00:38:54,641
And then as you pointed out, where
you understand if you're actually

751
00:38:54,641 --> 00:38:57,461
lending, I mean, if you're opening
up an account where you don't know

752
00:38:57,461 --> 00:39:02,431
if that account, if that bank is
partaking in fractional reserve or not.

753
00:39:02,961 --> 00:39:06,111
Now with education and understanding
what Bitcoin is, people will know

754
00:39:06,111 --> 00:39:07,671
what fractional reserve banking is.

755
00:39:08,001 --> 00:39:10,881
And so maybe you don't wanna open up
an account with a, with a bank that,

756
00:39:10,881 --> 00:39:13,911
that partakes in fractional reserve
and you want to open up an account

757
00:39:13,911 --> 00:39:15,261
with a bank that does one-to-one.

758
00:39:15,611 --> 00:39:15,971
I didn't know.

759
00:39:15,971 --> 00:39:19,092
'cause this goes back to the point of
where, uh, where main chain is going.

760
00:39:19,706 --> 00:39:21,566
It's gonna be unreachable
to a lot of people.

761
00:39:21,956 --> 00:39:25,286
But that's why we have layer two
solutions like Bitcoin, I mean, sorry,

762
00:39:25,286 --> 00:39:26,906
like lightning and, uh, and liquid.

763
00:39:27,386 --> 00:39:31,616
Uh, but you're only gonna deal with ones
that are doing it properly, correctly and

764
00:39:31,616 --> 00:39:37,166
that are not giving you paper, Bitcoin,
or, you know, one, uh, a 1, 1 2, whatever

765
00:39:37,166 --> 00:39:38,696
ratio they're gonna give you one to one.

766
00:39:38,816 --> 00:39:39,746
That's what you want.

767
00:39:39,746 --> 00:39:40,766
That's what you're gonna be looking for.

768
00:39:40,766 --> 00:39:41,906
That's what the market will want.

769
00:39:42,531 --> 00:39:45,541
So, at the end of the day, yeah, it's
going to make, I think, a fractional

770
00:39:45,541 --> 00:39:50,581
reserve market, uh, will be something that
may be left to those who want a bit more

771
00:39:50,581 --> 00:39:56,591
risk, and I don't think, I think maybe
with education people understand that if

772
00:39:56,591 --> 00:40:03,236
you just work hard and save and build a
family and have a better education, you're

773
00:40:03,236 --> 00:40:04,851
not going to have to take on that risk.

774
00:40:06,596 --> 00:40:07,416
absolutely love it.

775
00:40:07,426 --> 00:40:09,726
And how do you think this all gets there?

776
00:40:09,736 --> 00:40:13,536
How do you, how do you think
all this whole system unwinds?

777
00:40:13,586 --> 00:40:15,186
And what will be Bitcoin's role in that?

778
00:40:16,331 --> 00:40:17,361
seeing it right now.

779
00:40:17,621 --> 00:40:22,746
I think, um, with Presidents
of the United States of America

780
00:40:22,786 --> 00:40:24,056
openly talking about Bitcoin.

781
00:40:24,086 --> 00:40:27,706
Let's see what he says when he's
actually sworn into office in January.

782
00:40:27,736 --> 00:40:29,036
Let's see what happens afterwards.

783
00:40:29,666 --> 00:40:35,286
Politicians say one thing, then, you
know, they don't go through with it.

784
00:40:35,286 --> 00:40:40,166
But I hope that this time he's,
he's serious about Bitcoin.

785
00:40:40,206 --> 00:40:44,696
And I think I, I don't really, I have,
I have some reasons to doubt it because,

786
00:40:44,696 --> 00:40:47,526
you know, politicians are politicians,
but at the end of the day, you know,

787
00:40:48,036 --> 00:40:52,836
It's an increasing vote, amount of votes,
and a lot of people understanding how

788
00:40:52,836 --> 00:40:56,936
the system works, so it's, it's almost,
uh, political suicide, even though he

789
00:40:56,936 --> 00:41:01,466
doesn't have a mandate to protect, uh,
he does have, you know, he does have,

790
00:41:01,466 --> 00:41:06,146
uh, a republican party and, uh, and
a legacy to, to protect, so hopefully

791
00:41:06,146 --> 00:41:07,966
that will lower his time preference.

792
00:41:08,566 --> 00:41:11,476
And who knows, maybe he can
introduce some of his, uh, some

793
00:41:11,476 --> 00:41:12,916
of his, uh, family members.

794
00:41:12,916 --> 00:41:15,916
That's how the democracy
works into, into being.

795
00:41:16,456 --> 00:41:20,146
That's how the Clintons and
the, and the No, no, yeah.

796
00:41:20,146 --> 00:41:22,336
The um, and the, and the bushes.

797
00:41:22,336 --> 00:41:22,606
Sorry.

798
00:41:22,606 --> 00:41:24,556
That's the one there.

799
00:41:24,826 --> 00:41:28,271
So maybe the, the, uh, the
Trumps can be a, uh, a, a, uh,

800
00:41:28,276 --> 00:41:29,751
a, a political dynasty of good.

801
00:41:30,871 --> 00:41:36,421
Uh, yeah, but the other thing, sorry
about seeing what, I really hope,

802
00:41:36,461 --> 00:41:41,011
because right, we see right now the
S& P is already the, the global, um,

803
00:41:41,516 --> 00:41:46,876
Equity markets are touching record
highs again when the reality is, is

804
00:41:46,876 --> 00:41:49,476
that people out there are suffering.

805
00:41:49,646 --> 00:41:54,006
Um, average people out there are
not having a good time at all.

806
00:41:54,046 --> 00:41:58,476
So, I, it's, it's pretty obvious.

807
00:41:58,506 --> 00:42:02,856
And if, if, uh, To some people it's
not that obvious actually, but to

808
00:42:02,856 --> 00:42:06,446
a lot, to a lot, to a lot of people
who, uh, who actually filter through

809
00:42:06,446 --> 00:42:09,306
what's, uh, what's fed to us through
the media and actually look and just

810
00:42:09,326 --> 00:42:12,916
see how many, what the quality of jobs
are out there and the amount of people

811
00:42:12,916 --> 00:42:17,681
that are taking on two jobs or more
and the way that rent is House prices,

812
00:42:17,701 --> 00:42:19,741
inflation, everything is skyrocketing.

813
00:42:20,141 --> 00:42:23,241
There's something that's
going to give at some point.

814
00:42:23,291 --> 00:42:26,131
And that's not reflective
of equity markets.

815
00:42:26,351 --> 00:42:31,761
People think, oh yeah, if stocks are
up then that means the economy is good.

816
00:42:32,191 --> 00:42:36,091
But the real economy is really,
really in a shit position right now.

817
00:42:37,841 --> 00:42:40,611
But then at the same time that
also makes people understand what

818
00:42:40,641 --> 00:42:43,561
Bitcoin is because they understand
why am I having such a bad time.

819
00:42:43,571 --> 00:42:45,401
Why have I, you know, I've
done everything right.

820
00:42:45,401 --> 00:42:49,551
I went, I got myself a degree, maybe
two degrees, maybe even three degrees.

821
00:42:50,211 --> 00:42:54,121
And, uh, and I got myself
some job and so and so.

822
00:42:54,121 --> 00:42:55,301
I've got myself a job.

823
00:42:55,611 --> 00:43:01,411
That pays even six digits, but I'm
still barely, barely, uh, paying,

824
00:43:01,441 --> 00:43:04,511
paying off, uh, surviving month to
month, what the hell is going on?

825
00:43:05,441 --> 00:43:11,031
And that hopefully won't result in some
big deflationary shock, which it's always

826
00:43:11,031 --> 00:43:15,081
the case, but I, I do believe in shocks of
the system and how that's awake people up.

827
00:43:15,621 --> 00:43:19,011
But I want to make, we want to make sure
that we educate people about Bitcoin

828
00:43:19,061 --> 00:43:23,151
and, and it's a way that you can start
stacking and saving for the future.

829
00:43:23,151 --> 00:43:25,201
So when that shock does happen,
that you're prepared for it.

830
00:43:27,485 --> 00:43:30,165
Yeah, and deflation, like,
people are afraid of it, but

831
00:43:30,165 --> 00:43:32,055
if you look at, uh, computing

832
00:43:32,341 --> 00:43:32,611
Cons.

833
00:43:32,616 --> 00:43:33,506
Constantly deflate.

834
00:43:33,506 --> 00:43:33,507
Constantly

835
00:43:33,575 --> 00:43:36,915
that has Constantly deflating,
even against fiat, and it's

836
00:43:36,915 --> 00:43:38,145
one of the most successful

837
00:43:38,431 --> 00:43:39,421
What's the law again?

838
00:43:39,601 --> 00:43:40,026
Um, Mo law.

839
00:43:40,051 --> 00:43:40,891
Mo the Mo's Law.

840
00:43:40,891 --> 00:43:41,281
Yeah.

841
00:43:43,401 --> 00:43:43,941
Yeah, exactly.

842
00:43:43,941 --> 00:43:44,571
So, yeah.

843
00:43:44,661 --> 00:43:50,901
Uh, Jeff, Jeff Booth , Jeff Booth, uh,
book, um, the Price of Tomorrow where

844
00:43:50,901 --> 00:43:54,621
it talks deflation, uh, everything
until, you know, it doesn't even talk

845
00:43:54,621 --> 00:43:55,486
about Bitcoin until the very end.

846
00:43:56,446 --> 00:43:57,696
It's, it's, it's a brilliant book.

847
00:43:57,816 --> 00:43:58,176
Yeah.

848
00:43:58,576 --> 00:44:02,216
That's, that's, that's a good book to
show to people who, uh, you think, here's

849
00:44:02,216 --> 00:44:05,206
a really good book and they don't really
realize it's about Bitcoin and then they

850
00:44:05,206 --> 00:44:06,196
read it to the end and it's like, oh,

851
00:44:06,341 --> 00:44:06,566
okay.

852
00:44:06,836 --> 00:44:07,366
Yeah, It's a good

853
00:44:07,495 --> 00:44:08,255
No, it's great.

854
00:44:08,265 --> 00:44:08,425
It's

855
00:44:08,576 --> 00:44:09,466
Yeah, exactly.

856
00:44:09,466 --> 00:44:10,096
It's a good one.

857
00:44:10,426 --> 00:44:10,635
things.

858
00:44:10,635 --> 00:44:11,085
Yeah.

859
00:44:11,765 --> 00:44:12,025
Yeah.

860
00:44:12,055 --> 00:44:12,315
Yeah.

861
00:44:12,575 --> 00:44:17,595
If Trump wants to be taken serious,
like he should release was on

862
00:44:17,745 --> 00:44:20,355
day one release, Ross Ulbricht,

863
00:44:20,556 --> 00:44:20,916
For sure.

864
00:44:20,916 --> 00:44:21,506
For sure.

865
00:44:22,026 --> 00:44:22,956
I, I, yeah.

866
00:44:23,176 --> 00:44:24,806
Free Ross, 100%.

867
00:44:24,856 --> 00:44:26,546
That's, he promised.

868
00:44:26,546 --> 00:44:27,056
He said

869
00:44:27,216 --> 00:44:27,976
He would do it.

870
00:44:28,085 --> 00:44:28,345
he

871
00:44:28,446 --> 00:44:29,646
said he promised a lot of things.

872
00:44:29,656 --> 00:44:31,116
Let's see how many there is, but I think.

873
00:44:31,501 --> 00:44:33,061
Yeah, Ross should be freed.

874
00:44:34,631 --> 00:44:38,191
I look forward to meeting him
one day at a Bitcoin conference,

875
00:44:38,191 --> 00:44:41,501
shaking his hand, and that would
be just like a beautiful moment.

876
00:44:41,801 --> 00:44:45,241
Because of the history, what he has
gone through, I'm, yeah, I think,

877
00:44:45,251 --> 00:44:48,671
you know, for a lot of Bitcoiners,
that's going to be historic.

878
00:44:49,356 --> 00:44:52,566
Well, as long as this does happen,
it's also not the, the only major

879
00:44:52,586 --> 00:44:55,766
victory for freedom fighters
in the, in the recent times.

880
00:44:55,766 --> 00:44:58,976
Julian Assange got free, and I
mean, that was, that was another

881
00:44:59,441 --> 00:45:00,551
That was another great moment.

882
00:45:00,611 --> 00:45:01,141
Yeah.

883
00:46:06,436 --> 00:46:09,476
So there is, there is, there
is liberty movements out there.

884
00:46:10,261 --> 00:46:12,151
You know, libertarianism is on the rise.

885
00:46:12,151 --> 00:46:12,696
I get it.

886
00:46:12,701 --> 00:46:16,971
It, you could say that it,
it's disjointed, can never

887
00:46:16,971 --> 00:46:17,811
agree with each other.

888
00:46:18,921 --> 00:46:20,481
That's the point, isn't it?

889
00:46:20,481 --> 00:46:25,161
Yeah, I was just gonna say, uh, uh, but
I'll settle for classical liberalism

890
00:46:25,161 --> 00:46:29,501
as well, you know, less dependence on
the state, but you know, we have to

891
00:46:29,501 --> 00:46:32,081
find a middle ground at some point and
that's what we've gotta reach towards.

892
00:46:32,081 --> 00:46:35,831
We can't just struck people with
full on, full on libertarianism,

893
00:46:35,831 --> 00:46:36,461
you know, that's, uh,

894
00:46:37,211 --> 00:46:38,996
ease into it, you know, that's, uh.

895
00:46:39,791 --> 00:46:41,341
That's, that's, that's the goal really,

896
00:46:42,535 --> 00:46:48,115
Yeah, I think, uh, like, I've always
viewed, uh, One of the biggest risks

897
00:46:48,115 --> 00:46:53,155
with democracy is just that, when you
have individualists, they all think

898
00:46:53,165 --> 00:46:57,355
different things, therefore they
don't form big parties, and the more

899
00:46:57,385 --> 00:47:00,535
collectivist you are, the bigger the
party you form, because you don't

900
00:47:00,535 --> 00:47:02,075
care about what the party think.

901
00:47:02,445 --> 00:47:03,615
You care about belonging to

902
00:47:03,631 --> 00:47:07,571
that's where democracy in, in, in many
of its shapes and forms around the

903
00:47:07,571 --> 00:47:11,721
world are failing because, uh, they
rely too much on a two party or big,

904
00:47:11,791 --> 00:47:17,681
uh, big party system, and their voting,
electoral system is, are always flawed.

905
00:47:17,681 --> 00:47:21,061
They may look correct on the, on, on
the surface, like take for example

906
00:47:21,061 --> 00:47:22,641
the First Past the Post in the UK.

907
00:47:23,371 --> 00:47:25,341
Uh, it looks very correct.

908
00:47:25,391 --> 00:47:28,611
It looks like, oh, that's a good way for
small parties to, to, to, to rise up.

909
00:47:29,586 --> 00:47:32,326
Then you look at, you need
to do simple statistics.

910
00:47:32,376 --> 00:47:35,576
I'm not very mathematical, but you just
look at the simple, and then you realize

911
00:47:35,616 --> 00:47:37,946
that it's not good for the popular vote.

912
00:47:38,156 --> 00:47:41,206
So it's only going to, it only
suppresses smaller parties, and this

913
00:47:41,206 --> 00:47:43,656
is what's happening all over, most
places, a lot of places in the world.

914
00:47:43,976 --> 00:47:47,656
But you have other pockets of, of,
of, of, of, of where democracy is

915
00:47:48,266 --> 00:47:51,146
working to some extent, and I would,
Say that Switzerland is one of them.

916
00:47:51,506 --> 00:47:52,776
That's direct democracy.

917
00:47:53,356 --> 00:47:58,076
So the political party is not as important
and you're just, it's mainly driven

918
00:47:58,076 --> 00:48:02,156
by, um, by policy and that's done more
in a decentralised, bottom up fashion.

919
00:48:02,566 --> 00:48:04,126
Where your vote actually matters.

920
00:48:04,646 --> 00:48:08,096
Um, it's not perfect but it's definitely
much better than a lot of other places.

921
00:48:09,405 --> 00:48:14,205
Yeah, there's a great Veritasium
video about why democracy doesn't

922
00:48:14,215 --> 00:48:16,125
work from a mathematical perspective.

923
00:48:16,135 --> 00:48:19,075
So, strictly mathematics, but
this is why it can't work.

924
00:48:19,095 --> 00:48:23,435
Because it can never, like,
get the most popular candidate,

925
00:48:23,515 --> 00:48:25,655
really, or the most popular

926
00:48:25,911 --> 00:48:29,251
No, it's, it's, it's, it's, it's crazy
that, but if you look at maths, yeah, as

927
00:48:29,251 --> 00:48:31,971
you said, it's, it's, it's pretty obvious.

928
00:48:32,481 --> 00:48:35,751
But at the end of the day, most,
most of the world are in the belief

929
00:48:35,751 --> 00:48:37,551
that democracy equals freedom.

930
00:48:39,110 --> 00:48:43,530
Yeah, and that it's, uh, it's the one
word that is still taboo for almost

931
00:48:43,691 --> 00:48:47,411
bad about democracy, I get, uh,
I get insulted and whatever.

932
00:48:47,411 --> 00:48:51,631
But I'm saying no, I'm, I'm, I'm,
I'm 100 percent liberty freedom.

933
00:48:52,201 --> 00:48:54,541
But that comes with responsibility.

934
00:48:54,776 --> 00:48:59,376
Freedom is a lesson in
responsibility and democracy is,

935
00:48:59,496 --> 00:49:03,686
is a lesson in, um, nanny care.

936
00:49:03,836 --> 00:49:10,276
It's a, it's a lesson in, uh, you get, you
get given choice, you get given a platter.

937
00:49:11,266 --> 00:49:14,126
You don't have any choice of what's
going to be put on that plate, but

938
00:49:14,126 --> 00:49:15,726
you have to pick one of those things.

939
00:49:16,246 --> 00:49:18,226
And you don't know if one of
those things is poison or not.

940
00:49:18,746 --> 00:49:18,936
Uh.

941
00:49:20,610 --> 00:49:25,100
No, and, and, uh, but you see these
movements, I, I think like one, one of the

942
00:49:25,110 --> 00:49:30,680
things that the left has been, uh, relying
on for a long time is that the youth

943
00:49:30,710 --> 00:49:32,580
will always vote in favor of the left.

944
00:49:32,930 --> 00:49:37,640
More rebellious, you know,
the Che Guevara's, but, but

945
00:49:37,640 --> 00:49:38,600
that's not true anymore.

946
00:49:38,620 --> 00:49:43,110
Like the younger, the younger,
uh, the voting base, like the more

947
00:49:43,110 --> 00:49:45,380
libertarian they are, like they are

948
00:49:45,486 --> 00:49:48,606
becoming, um, yeah, I think the trend
is that they're becoming, a lot of them

949
00:49:48,606 --> 00:49:52,496
are quite sadly becoming quite nihilist
because they don't see no hope in the

950
00:49:52,496 --> 00:49:57,416
future, so that's kind of sad, but
there's a lot of young libertarians, a

951
00:49:57,556 --> 00:50:00,366
growing number of people understanding
what bitcoin is because they're

952
00:50:00,386 --> 00:50:04,746
tech savvy and they understand what
private keys are, public and private

953
00:50:04,746 --> 00:50:07,476
keys, and that's super important, and

954
00:50:07,530 --> 00:50:10,510
And I think this is largely due
to the internet and Bitcoin.

955
00:50:11,060 --> 00:50:14,700
We, we, yeah, those, those two
things have like provided people with

956
00:50:14,700 --> 00:50:18,670
this mirror and this lens to view
the world and themselves through.

957
00:50:18,670 --> 00:50:18,710
Yeah.

958
00:50:19,180 --> 00:50:22,750
That, that more truly reflects what's
actually going on in the world.

959
00:50:23,766 --> 00:50:28,796
Hey, uh, this, this is, uh, absolutely
awesome, uh, just the, the optimism here.

960
00:50:28,796 --> 00:50:33,406
I mean, it's, it's funny, like, I, I,
I personally felt quite relieved when,

961
00:50:33,426 --> 00:50:37,136
when Trump won, uh, and I mean, that's
not going to be a popular opinion,

962
00:50:37,176 --> 00:50:41,106
uh, especially where, where I'm, I'm
based in Finland or anything, or even

963
00:50:41,106 --> 00:50:44,366
Canada, but, but the, but the, but
the thing is, it's, it's, it's crazy.

964
00:50:44,506 --> 00:50:50,551
It, it really was a case where one side
So, Was actually wanting to just increase

965
00:50:50,571 --> 00:50:54,441
government control, increase, increase
the, increase the control, increase the

966
00:50:54,441 --> 00:50:58,191
surveillance, increase the censorship and
all this, and the other side wasn't, and,

967
00:50:58,191 --> 00:51:02,901
and, and so I'm, I mean, Are, are you
hopeful that, that over the next, uh, four

968
00:51:02,901 --> 00:51:07,101
years, and, and even beyond, that, uh, we
can kind of get over some kind of hump,

969
00:51:07,166 --> 00:51:09,146
divisions are really strong right now.

970
00:51:09,206 --> 00:51:12,716
I'd say, uh, what hap, what hap
what's happening in America?

971
00:51:12,806 --> 00:51:17,356
The, if you were a Democrat and you
were one of these, uh, you are a

972
00:51:17,356 --> 00:51:20,836
Harris supporter, you would think that
the Trump guides are indoctrinated.

973
00:51:20,836 --> 00:51:23,446
Now here we're sitting, we're
less, we're, we're saying, okay,

974
00:51:23,446 --> 00:51:24,346
we're more Trump supporters.

975
00:51:24,346 --> 00:51:25,996
We think they, they're more indoctrinated.

976
00:51:25,996 --> 00:51:26,746
That's the point.

977
00:51:27,346 --> 00:51:29,656
Difficult to convince the other
side that they've been, that they,

978
00:51:29,656 --> 00:51:30,946
that they've been, uh, fooled.

979
00:51:31,636 --> 00:51:35,416
Um, but the, you just look at numbers.

980
00:51:36,531 --> 00:51:43,051
You see that more people are going now
from being a Democrat, being, um, woke

981
00:51:43,071 --> 00:51:45,261
or whatever it is, to being libertarian.

982
00:51:45,271 --> 00:51:47,191
I see more of the trend
going the other way, I think.

983
00:51:47,751 --> 00:51:50,571
So I think if you, yeah, the
numbers, I think they give me some

984
00:51:50,571 --> 00:51:54,071
hope that people are waking up
to these crazy leftist policies.

985
00:51:54,471 --> 00:51:59,311
There was a move before, pre COVID,
pre all that, and during COVID, that

986
00:51:59,311 --> 00:52:06,701
there was, um, a lot of, Groupthink
and, uh, and, and, and, and, what you

987
00:52:06,701 --> 00:52:12,041
call it, um, collectivism happening, but
we realize that people woke up to the

988
00:52:12,041 --> 00:52:16,691
dangers of that, and now individualism
is, is coming up, is rising up again.

989
00:52:16,701 --> 00:52:21,091
So, yes, I'm hopeful, I'm hopeful that
we're gonna, we're gonna mend a lot

990
00:52:21,091 --> 00:52:25,201
of those, uh, those fractions that
are appearing, that have appeared.

991
00:52:26,930 --> 00:52:31,500
I, I know this, this is an old Jordan
Peterson theory, and that is that, uh,

992
00:52:31,510 --> 00:52:37,530
the right, on the right, there's always
been a very clear where the no go zone is.

993
00:52:37,550 --> 00:52:41,860
Like, if you go into actual figures,
Fascism and racism, then that's a no

994
00:52:41,860 --> 00:52:43,950
go zone, you can't do that, whatever.

995
00:52:44,230 --> 00:52:47,240
I think all politics are on the
left side of the aisle, but that's,

996
00:52:47,270 --> 00:52:48,580
that's the, that's another thing.

997
00:52:48,820 --> 00:52:52,300
You go from an Orego zero point
and then everything's to the left.

998
00:52:52,350 --> 00:52:53,430
But that's beside the point.

999
00:52:53,430 --> 00:52:58,336
But on the left, it's been more unclear
where the line is drawn, like what's

1000
00:52:58,336 --> 00:53:00,625
an okay opinion to have and not.

1001
00:53:00,775 --> 00:53:05,175
And I think they've found out that,
you know, men beating up women

1002
00:53:05,215 --> 00:53:09,885
in the Olympics, for instance, is
simply not okay in most people's

1003
00:53:09,885 --> 00:53:13,275
minds, and mutilating the children,

1004
00:53:13,376 --> 00:53:13,676
it's not

1005
00:53:13,865 --> 00:53:14,295
okay,

1006
00:53:15,545 --> 00:53:18,005
So I think they're finding out where

1007
00:53:18,056 --> 00:53:19,676
right, and

1008
00:53:20,305 --> 00:53:23,335
And the backlash is huge, and
I'm a bit afraid of it, because

1009
00:53:23,335 --> 00:53:29,135
like, throwing gay people off of
rooftops is not a good thing either.

1010
00:53:29,175 --> 00:53:34,175
Like, uh I mean, all we
want is our inherent natural

1011
00:53:34,175 --> 00:53:35,705
born right to be left alone.

1012
00:53:35,765 --> 00:53:37,565
That's that's how it should work.

1013
00:53:37,570 --> 00:53:40,595
The, the individual is the
smallest minority group.

1014
00:53:40,625 --> 00:53:41,135
That's whose

1015
00:53:41,356 --> 00:53:45,286
that's well put, but we're not
taught that, and I think we should

1016
00:53:45,296 --> 00:53:48,186
be taught that, and that's why I
think education should be privatized.

1017
00:53:48,881 --> 00:53:53,201
Um, but again it can't be done in a
short, I think it has to come stage by

1018
00:53:53,201 --> 00:54:00,021
stage, but I've seen efforts around,
uh, like for example in Serbia, uh, we

1019
00:54:00,021 --> 00:54:02,101
have to follow the Serbian, um, system.

1020
00:54:02,241 --> 00:54:04,331
And luckily there's no,
there's no woke stuff in there.

1021
00:54:04,756 --> 00:54:09,106
Which is, but it's fine, it's not, it's
not, I'd say a lot of the propaganda

1022
00:54:09,106 --> 00:54:12,046
that was in there against my family
has been, has been taken out and

1023
00:54:12,216 --> 00:54:16,006
that's great and they haven't adopted
any of that, or any of that cultural

1024
00:54:16,006 --> 00:54:21,736
Marxism that's been adopted by some of
the liberal west educational systems.

1025
00:54:22,296 --> 00:54:25,986
But, you know, it's, it's great to see

1026
00:54:28,686 --> 00:54:30,446
being taken out and I.

1027
00:54:30,516 --> 00:54:35,626
I think we can do a step further and
make private education more affordable

1028
00:54:35,626 --> 00:54:37,156
and raise teachers to another level.

1029
00:54:37,846 --> 00:54:40,736
But I think in order to do that,
you know, you have to, I think,

1030
00:54:41,466 --> 00:54:46,246
government, the state has to
place more resources in teachers.

1031
00:54:47,806 --> 00:54:50,716
It's, it's a, it's a balance that
you have to make sure that they

1032
00:54:50,936 --> 00:54:53,566
pay more resources in teachers, but
without it, without it affecting,

1033
00:54:53,576 --> 00:54:57,456
um, uh, policy, uh, what they teach.

1034
00:54:57,976 --> 00:55:03,636
They should be taught what, what, um, what
the market wants, what, uh, what What,

1035
00:55:03,636 --> 00:55:05,136
uh, the indivi, what the individuals want.

1036
00:55:05,136 --> 00:55:08,496
So, but I think over time then
they, the teachers become, become

1037
00:55:08,526 --> 00:55:10,176
profe a sought after profession.

1038
00:55:11,361 --> 00:55:15,391
And that's, that's, this is what I see,
that we then can go towards more of a

1039
00:55:15,391 --> 00:55:19,951
private educational world where teachers
are one of the most valued members

1040
00:55:19,951 --> 00:55:25,561
of society and, uh, and, and, and our
children are taught the right things.

1041
00:55:26,081 --> 00:55:28,831
I don't know, I'm trying to construct
in my head how the transition

1042
00:55:28,831 --> 00:55:31,691
will happen, but this is, I mean,
this is what happens along, along

1043
00:55:31,691 --> 00:55:33,291
with Bitcoin being adopted more.

1044
00:55:35,015 --> 00:55:38,555
Would you agree that east
is the new West in terms

1045
00:55:38,731 --> 00:55:39,521
I would say

1046
00:55:39,524 --> 00:55:48,421
that, yes, yes, yes, yes, and no, um, yes,
actually, I would, because when I moved

1047
00:55:48,431 --> 00:55:55,471
to Serbia, I was, I moved in 2020 with my
wife and son, and we've had a daughter,

1048
00:55:55,501 --> 00:55:58,731
we had a daughter last year, so there's
four of us, but during the whole COVID

1049
00:55:58,731 --> 00:56:03,371
years, I bumped into a lot of Canadians
who came up to me and they were saying,

1050
00:56:03,371 --> 00:56:06,271
Hey, you know, we're from Canada, we're
Serbian from Canada, how are you doing?

1051
00:56:06,271 --> 00:56:07,091
Good to meet you and stuff.

1052
00:56:07,261 --> 00:56:09,041
Great, so how long are you here for?

1053
00:56:09,041 --> 00:56:09,721
No, we moved back.

1054
00:56:10,631 --> 00:56:13,881
And this happened once, twice, I think
it happened about five or six times.

1055
00:56:13,891 --> 00:56:15,261
So it was a trend.

1056
00:56:15,731 --> 00:56:17,521
And every time they said,
yeah, we just don't like what's

1057
00:56:17,521 --> 00:56:18,591
going on in Canada anymore.

1058
00:56:20,051 --> 00:56:26,141
So they moved to Canada in the first place
to get away from communism or socialism.

1059
00:56:26,541 --> 00:56:28,811
And now they're moving away from
Canada to get back to Serbia.

1060
00:56:29,371 --> 00:56:30,571
Because of similar things.

1061
00:56:30,721 --> 00:56:35,131
So this is, it's so, yes, your point
where East is west, west is east is true.

1062
00:56:35,611 --> 00:56:40,171
And the, the east, where I'm from
Serbia is very awake, aware of,

1063
00:56:40,171 --> 00:56:43,261
uh, of what indoctrination is,
what's, uh, what brain, what, what,

1064
00:56:43,291 --> 00:56:49,651
what, um, what, what, uh, masculine
brainwashing has can do to society.

1065
00:56:49,681 --> 00:56:53,521
Most of, most of the east, most of the
communist block Serbia wasn't, Yugoslav

1066
00:56:53,551 --> 00:56:56,881
wasn't really quite inside the behind
Iron Curtain, but it was still heavily.

1067
00:56:57,176 --> 00:56:59,486
Brainwashed and now we're all waking up.

1068
00:56:59,496 --> 00:57:02,506
We're aware of that and now
we see that's happening.

1069
00:57:03,036 --> 00:57:04,356
That happened in the West.

1070
00:57:05,575 --> 00:57:07,105
So how do you break that cycle?

1071
00:57:07,125 --> 00:57:10,955
If that is like a real thing that
people are moving, their grandparents

1072
00:57:10,955 --> 00:57:14,775
moved to Canada and now they're moving
back, is there a risk of this happening

1073
00:57:14,775 --> 00:57:16,495
again and then moving back to Canada?

1074
00:57:16,506 --> 00:57:17,426
Yes, it is

1075
00:57:19,835 --> 00:57:20,245
how do we

1076
00:57:20,815 --> 00:57:25,485
we, we, we make people more financially
independent and that's where it

1077
00:57:25,485 --> 00:57:29,745
comes back to what we're here talking
about is Bitcoin is if you have the,

1078
00:57:29,795 --> 00:57:33,015
if you have the ability to save and
something that's, that can't be,

1079
00:57:33,015 --> 00:57:39,185
um, it can't be, um, Printed away,
eroded away, taken away from you.

1080
00:57:39,185 --> 00:57:43,145
If you have, if you, if you have something
that, that, that, that, that gains

1081
00:57:43,155 --> 00:57:46,325
a value over the future, then you're
going to have security and that's going

1082
00:57:46,325 --> 00:57:47,765
to make your life a lot more stable.

1083
00:57:47,865 --> 00:57:51,325
You're going to plan, have
longer relationships with

1084
00:57:51,325 --> 00:57:52,045
your, you're going to have.

1085
00:57:52,470 --> 00:57:56,550
More children, you're gonna, uh,
create, invest in your, in yourself,

1086
00:57:56,550 --> 00:57:59,850
in your family, and then that's
gonna then invest in your community.

1087
00:57:59,910 --> 00:58:02,610
And that's just gonna have
a, a, a ripple effect.

1088
00:58:02,610 --> 00:58:04,380
And that's how Civilization is born.

1089
00:58:05,090 --> 00:58:07,790
Um, civilization is born
from the Savor Investor.

1090
00:58:07,790 --> 00:58:10,610
This is what I think I read in Hopin,
his first chapter of democracy.

1091
00:58:10,610 --> 00:58:14,750
They've gotta fill the Sav investor
is what creates, uh, a ripple effect

1092
00:58:14,810 --> 00:58:19,160
of, um, of, of, of other, other
people tending to do the same thing.

1093
00:58:19,285 --> 00:58:23,245
And that, and they go from being,
from being ch from Charles to adults,

1094
00:58:23,245 --> 00:58:24,925
from barbarism to civilization.

1095
00:58:25,155 --> 00:58:26,685
And that's how civilizations are born.

1096
00:58:26,685 --> 00:58:29,385
So I think it's just a stabilizing effect.

1097
00:58:29,385 --> 00:58:31,035
If we have hard money and we have, we are.

1098
00:58:31,215 --> 00:58:35,155
If we're, if we're, if we have a good
form of, uh, of money, then we're

1099
00:58:35,155 --> 00:58:39,955
gonna, we're gonna, we're gonna, uh,
uh, reduce the, uh, the migrations

1100
00:58:39,955 --> 00:58:41,095
we've had all around the world.

1101
00:58:41,305 --> 00:58:42,265
And that's a huge issue.

1102
00:58:42,265 --> 00:58:44,995
That's one of essential issues to
why we have a lot of this populism,

1103
00:58:44,995 --> 00:58:46,975
a lot of this, a lot of people, um.

1104
00:58:47,325 --> 00:58:51,985
Screaming on social media about, about,
about losing or winning or whatever.

1105
00:58:52,385 --> 00:58:55,905
Um, uh, politics and elections and they
make no difference at the day, but,

1106
00:58:55,935 --> 00:59:01,345
but what's actually happening is that
we have imbalance, imbalances of, uh,

1107
00:59:01,365 --> 00:59:04,915
of, of, of, of cap, sorry, of money.

1108
00:59:05,345 --> 00:59:08,575
Um, so I'm trying to structure this
thought over here, but it's basically

1109
00:59:08,585 --> 00:59:13,155
fiat pockets all around the world
behaving different ways and with more

1110
00:59:13,155 --> 00:59:15,955
value in some countries and other,
other country, other countries and

1111
00:59:15,955 --> 00:59:17,045
those countries with more value.

1112
00:59:18,265 --> 00:59:21,585
Stealing from the smaller countries, so
then the smaller countries feel, uh, they

1113
00:59:21,585 --> 00:59:24,835
need to move into the, into the, into the
richer countries, and so you have this big

1114
00:59:25,215 --> 00:59:29,915
capital, uh, sorry, human flight happening
into the, into the richer companies.

1115
00:59:30,370 --> 00:59:33,540
And, um, and people
moving around everywhere.

1116
00:59:33,610 --> 00:59:34,380
I'm going

1117
00:59:35,369 --> 00:59:35,759
yeah, yeah.

1118
00:59:35,759 --> 00:59:35,909
Agree.

1119
00:59:36,449 --> 00:59:39,209
But, but yeah, the way I
see it is pretty simple.

1120
00:59:39,209 --> 00:59:44,699
Like there's barbarianism and civilization
and the barbaric way of doing stuff

1121
00:59:44,699 --> 00:59:46,409
is taking it from the other person.

1122
00:59:47,059 --> 00:59:50,929
And the civilized way is
exchanging goods and services,

1123
00:59:51,139 --> 00:59:53,209
uh, voluntarily and with consent.

1124
00:59:53,449 --> 00:59:58,489
So either soldiers cross borders or,
or goods and services do, and this is.

1125
00:59:58,884 --> 01:00:02,424
This is what it's all about, like
it's, the state is inherently

1126
01:00:02,424 --> 01:00:05,122
violent since it coerces people into

1127
01:00:05,260 --> 01:00:08,180
The less interventionism, the less
coercion there is, the less taxes there

1128
01:00:08,197 --> 01:00:08,300
is.

1129
01:00:08,300 --> 01:00:12,790
The more the civilization, the more
competitive you are, the more of

1130
01:00:12,790 --> 01:00:16,650
a service provider you are to your
citizens, the more you will attract.

1131
01:00:17,055 --> 01:00:19,825
Better, you'll attract better behavior
as well at the end of the day.

1132
01:00:22,164 --> 01:00:26,404
Speaking, one thing back to
another, how is Bitcoin adoption

1133
01:00:26,555 --> 01:00:31,095
A lot of more people are becoming aware
of it and I hear more people talking about

1134
01:00:31,095 --> 01:00:34,325
it and I think now thanks to Trump that's
going to be a big thing, especially if

1135
01:00:34,325 --> 01:00:35,855
he starts making some big moves in it.

1136
01:00:36,795 --> 01:00:44,905
Uh, Serbia is, has great, uh, capacity
for, for my, uh, technical minds.

1137
01:00:45,205 --> 01:00:49,435
A lot of developers in Serbia, a
lot of good, good core developers,

1138
01:00:49,615 --> 01:00:53,095
uh, secretly living, living in
Serbia and a lot of, a lot of Serbs.

1139
01:00:53,155 --> 01:00:54,475
Uh, great Serbian.

1140
01:00:54,655 --> 01:00:55,645
Bitcoin is around the world.

1141
01:00:56,125 --> 01:00:58,195
Of course, Serbia has a big
diaspora around the world.

1142
01:00:58,670 --> 01:01:02,060
Um, I would like to see, I would like
them to be more Bitcoin as in Serbia.

1143
01:01:02,060 --> 01:01:05,840
I'd like to see adoption grow further and
I'd like to people be more open about it.

1144
01:01:05,840 --> 01:01:09,740
And I would like to see Serbia to
be, uh, to, to make some big moves in

1145
01:01:09,740 --> 01:01:11,690
Bitcoin and I'm gonna help drive that.

1146
01:01:12,460 --> 01:01:16,000
I, I see a big potential that seia
can be good for Bitcoin and obviously

1147
01:01:16,150 --> 01:01:21,110
Bitcoin's gonna be good for Serbia
and I think we'll start people's

1148
01:01:21,470 --> 01:01:23,980
service as very cash orientated.

1149
01:01:24,280 --> 01:01:26,080
Society cash is king there.

1150
01:01:26,080 --> 01:01:27,070
They like their privacy.

1151
01:01:27,680 --> 01:01:28,190
Great.

1152
01:01:28,670 --> 01:01:29,390
So.

1153
01:01:29,870 --> 01:01:32,100
The next best, the best next
best thing, the best thing

1154
01:01:32,100 --> 01:01:33,230
there is, is Bitcoin for that.

1155
01:01:33,230 --> 01:01:37,395
So, um, we We are natural
Bitcoiners, so there will be a,

1156
01:01:37,435 --> 01:01:38,535
there will be a big adoption.

1157
01:01:38,535 --> 01:01:43,095
I think it's, it's education needs to,
uh, needs to, needs to grow further there.

1158
01:01:43,675 --> 01:01:47,735
And we'll do that by translating books,
by getting out, speaking more about it.

1159
01:01:47,745 --> 01:01:51,055
And I, I, I see a good, I see a good
future for Bitcoin adoption in Serbia.

1160
01:01:53,415 --> 01:01:54,435
For the world as well,

1161
01:01:54,565 --> 01:01:55,375
Ah, yeah, of course.

1162
01:01:56,585 --> 01:01:59,245
I'm just, that's just me
being a patriotic Serb.

1163
01:01:59,245 --> 01:01:59,555
Yeah.

1164
01:02:00,085 --> 01:02:03,055
No, no, that was my sort of
lame attempt to, I don't know,

1165
01:02:03,105 --> 01:02:04,435
extrapolate all the way up.

1166
01:02:04,465 --> 01:02:05,775
But no, no, it's awesome to see.

1167
01:02:06,520 --> 01:02:10,850
Serbia starts to make moves, any country
starts to make the move, and if I have

1168
01:02:10,850 --> 01:02:14,530
a big voice then, well, I say a big
voice, I need to learn the language

1169
01:02:14,530 --> 01:02:19,070
better, so if I can make, if I can
make, drive some adoption there, then,

1170
01:02:19,080 --> 01:02:22,240
you know, you'll have, it's always
that whole, oh, what are they doing?

1171
01:02:22,290 --> 01:02:23,150
Why can't we do that?

1172
01:02:23,150 --> 01:02:24,610
And this is what we're
seeing in Latin America.

1173
01:02:24,610 --> 01:02:28,890
That's why, even in Central
America, it's ripe Bitcoin adoption.

1174
01:02:29,505 --> 01:02:30,355
Or Latin America.

1175
01:02:30,355 --> 01:02:35,185
You see a lot of, a lot of Bitcoin,
uh, crypto use in Latin America.

1176
01:02:35,235 --> 01:02:37,825
They understand, they know what,
uh, they've, they're the, they're

1177
01:02:37,825 --> 01:02:43,515
the closest subjects to the dollars,
um, uh, superiority and control.

1178
01:02:43,575 --> 01:02:48,565
So they know they need to get away from
that, but at the same time, they're

1179
01:02:48,565 --> 01:02:50,035
the mining dollars at the same time.

1180
01:02:50,035 --> 01:02:51,685
But that's why I
introduced them to Bitcoin.

1181
01:02:52,550 --> 01:02:55,820
They get it much more instantaneously
and they're also more, they've seen

1182
01:02:55,820 --> 01:02:59,640
more inflationary shocks than any
other parts of the world as well.

1183
01:02:59,640 --> 01:03:05,280
They've been subjected to fiat, fiat
scams all throughout the history,

1184
01:03:05,280 --> 01:03:06,830
especially places like Argentina.

1185
01:03:06,900 --> 01:03:10,010
Not that Europe is immune to it, you
know, Serbia and Yugoslavia in the

1186
01:03:10,010 --> 01:03:14,520
90s experienced the third worst case
of fiat inflation in the world, ever.

1187
01:03:15,270 --> 01:03:19,300
But somehow we have short term memories
and we don't, we don't remember that.

1188
01:03:19,360 --> 01:03:23,390
And when cash is introduced again,
it's like, yeah, cash is great.

1189
01:03:23,450 --> 01:03:24,790
You can hide it under your mattress.

1190
01:03:25,671 --> 01:03:28,151
So, any, uh, last words?

1191
01:03:28,151 --> 01:03:31,651
I think this has been a great talk
and we could keep going on for a

1192
01:03:31,651 --> 01:03:33,221
while, but I think, I think we're, uh,

1193
01:03:34,715 --> 01:03:36,045
We're running out of air in here.

1194
01:03:36,065 --> 01:03:36,365
I think

1195
01:03:36,376 --> 01:03:36,766
like that.

1196
01:03:37,446 --> 01:03:43,186
No, but, uh, anything else on your mind,
uh, that we haven't discussed already?

1197
01:03:43,436 --> 01:03:44,246
Or any parting words?

1198
01:03:44,796 --> 01:03:52,056
Parting words, uh, let's, I think the
Trump win was a good boost for Bitcoin.

1199
01:03:52,056 --> 01:03:53,256
You saw that in the price.

1200
01:03:53,636 --> 01:03:55,236
Let's keep that momentum going.

1201
01:03:56,166 --> 01:03:58,856
We all have a part to play in this.

1202
01:03:58,956 --> 01:04:00,316
Let's keep the adoption.

1203
01:04:02,051 --> 01:04:06,421
Needle high, pushing, pushing on
maximum because now is a good time

1204
01:04:06,751 --> 01:04:10,731
to get people on board as the price
is high and to teach them about what

1205
01:04:10,731 --> 01:04:15,061
money is, what the values of hard
money is, and the history of money.

1206
01:04:15,411 --> 01:04:19,711
So big message out to Bitcoiners
out there to keep on doing what

1207
01:04:19,711 --> 01:04:21,621
they're doing and we're winning.

1208
01:04:24,065 --> 01:04:24,625
Fantastic.

1209
01:04:24,645 --> 01:04:27,945
Anywhere you want to send
our listeners, like online

1210
01:04:27,951 --> 01:04:31,531
I don't really talk much about Bitcoin
on my, on my, on my social media.

1211
01:04:32,591 --> 01:04:33,591
But I have joined Nostr.

1212
01:04:34,586 --> 01:04:35,126
Uh, prince.

1213
01:04:35,126 --> 01:04:35,186
Yeah,

1214
01:04:35,195 --> 01:04:35,875
Oh yeah, yeah,

1215
01:04:35,996 --> 01:04:36,296
yeah.

1216
01:04:36,296 --> 01:04:40,676
Uh, prince, P-R-I-N-C-F-I-L-I-P.

1217
01:04:41,726 --> 01:04:41,846
Yeah.

1218
01:04:41,846 --> 01:04:43,286
Oh, in, in Ian?

1219
01:04:43,286 --> 01:04:43,706
Yes.

1220
01:04:44,056 --> 01:04:47,086
Uh, so I just joined Nasta, but I,
you can follow me on, on Twitter,

1221
01:04:47,086 --> 01:04:48,796
which is the same with the one.

1222
01:04:49,236 --> 01:04:52,176
And I'm on, and I'm on Instagram,
but you know, I know Bitcoin

1223
01:04:52,176 --> 01:04:53,286
is not so much on Instagram.

1224
01:04:53,845 --> 01:04:56,801
So, so follow at Prinkflip, uh,

1225
01:04:56,926 --> 01:05:01,156
it depends how you
pronounce the C . Um, yes.

1226
01:05:01,156 --> 01:05:02,376
So fo Yeah.

1227
01:05:02,376 --> 01:05:02,796
Follow me.

1228
01:05:02,801 --> 01:05:04,206
Follow me on, on Austin now

1229
01:05:04,996 --> 01:05:06,956
And, uh, Jan 3 as well, right?

1230
01:05:07,493 --> 01:05:10,406
jan3, jan3.

1231
01:05:10,506 --> 01:05:13,126
com, dot com, dot com, something,
but you can, you can, you

1232
01:05:13,256 --> 01:05:14,956
Yeah, we'll put all the info in the

1233
01:05:15,266 --> 01:05:17,496
But yeah, follow me, follow me on
Twitter if you want to see me doing

1234
01:05:17,496 --> 01:05:18,966
a lot of royal duties now as well,

1235
01:05:19,026 --> 01:05:19,386
so,

1236
01:05:20,095 --> 01:05:20,495
Yeah, yeah.

1237
01:05:20,495 --> 01:05:20,655
yeah,

1238
01:05:20,736 --> 01:05:21,756
thing we didn't even
talk about, but that's,

1239
01:05:22,525 --> 01:05:26,235
It's like every 20th post, there's

1240
01:05:26,426 --> 01:05:28,406
not anymore, no, because, uh, yeah,

1241
01:05:28,491 --> 01:05:32,326
because, uh, no, I'm now going to
focus more and more Bitcoin on Nostr

1242
01:05:32,356 --> 01:05:37,441
and, and, and much less on Twitter
because of the, uh, The backlash, you

1243
01:05:37,441 --> 01:05:41,081
get, you get, you get a lot of, a lot
of very vocal, uh, people, bots, very

1244
01:05:41,081 --> 01:05:45,001
small majority, but they, they, they
make my Twitter profile look great.

1245
01:05:46,175 --> 01:05:50,205
No, it's usually some beautiful
picture of your, your family in a

1246
01:05:50,215 --> 01:05:54,515
beautiful setting or you with some
bearded old man in a robe somewhere.

1247
01:05:56,321 --> 01:06:00,551
Well, that's what we want, is we, I'm
trying, I'll, uh, no, now we're going

1248
01:06:00,551 --> 01:06:04,946
to continue the conversation, but since
I became, I became a Bitcoiner, It's

1249
01:06:04,946 --> 01:06:09,516
also the time I got married, had my,
uh, created a family and understood the

1250
01:06:10,096 --> 01:06:18,666
values of family values and traditions
and, um, and how, why it is so important

1251
01:06:18,676 --> 01:06:25,081
to have money that you can, uh, Generate,
uh, generational wealth with and, and

1252
01:06:25,081 --> 01:06:26,951
have some stability for the future.

1253
01:06:26,951 --> 01:06:29,091
And this is something I didn't
have when I got married.

1254
01:06:29,211 --> 01:06:32,531
Uh, well, this didn't seem that bright.

1255
01:06:32,531 --> 01:06:35,421
The future did not seem very bright
for my son when he, when, when he

1256
01:06:35,421 --> 01:06:37,201
was born and I wanted to fix that.

1257
01:06:37,201 --> 01:06:39,421
And I was searching for,
for, for, for truth.

1258
01:06:39,461 --> 01:06:41,311
And, and then I found Bitcoin.

1259
01:06:41,741 --> 01:06:43,941
So it just happens that, you
know, we're going in that

1260
01:06:43,941 --> 01:06:45,451
direction and it's fantastic.

1261
01:06:45,451 --> 01:06:46,561
And I, and I believe.

1262
01:06:49,076 --> 01:06:52,896
I believe in tradition, I believe in
monarchy, I believe in its low time

1263
01:06:52,896 --> 01:06:55,736
preferences as a great form of governance.

1264
01:06:56,136 --> 01:06:57,326
And that's another conversation.

1265
01:06:57,326 --> 01:07:05,316
So that's what we're trying to push
out there is stability, unity and a

1266
01:07:05,316 --> 01:07:07,466
prosperous future and family values.

1267
01:07:09,605 --> 01:07:12,695
Good luck with all of it and yeah, uh, and

1268
01:07:12,766 --> 01:07:13,776
you for having me on again.

1269
01:07:13,961 --> 01:07:14,646
thanks so much for coming

1270
01:07:14,799 --> 01:07:18,016
the next chat and to the excited Mike.

1271
01:07:19,966 --> 01:07:21,666
This has been the Bitcoin Infinity Show.

1272
01:07:21,716 --> 01:07:23,096
Thank you for listening, and thank you

1273
01:07:23,356 --> 01:07:24,046
Thanks guys.