Bitcoin Today Recast 9/3/26

0:00He is a gentleman. For those among you who are evil-fights, we suggest you turn away now to those of you who think they can take it. Be sane and corrupt. To the bad house. I don't know, but Okay, listen up Don Skiz.

1:26I miss you, darling. Donna Sudor When I was a young boy, my father took me into the city to see a marching band. He said, someone, you throw up, would you be the savior of the broken, the beaten and the damn? He said, will you defeat them? Central bankers And I've had no beliefs, the plans that they have made, because one day I'll leave you a battle, silly, you know, in the summer, silly, you know, in the orange.

3:08I'm going to kill you. It's all up now, but big horn is on fire. You and the world are going to start on fire. Just going on this morning. Let's just kill this. Good morning, Terrence. Are you having fun with those dials, Lorne? I like buttons. I like the touch things, don't you? I'm a toucher. Yeah, I can tell. I love language touching buttons. You've gotten trouble as a kid, didn't you? I can tell. I've gotten trouble as an old man touching buttons, pushing buttons. Yeah, what are you pushing 78 now? Close. Yeah, that's what I thought. You look amazing. You look amazing. Right up there. Yeah. I know I always, when British says dancing grandpa's, I think he's referring to me as well. You're not a grandpa though. Who says? Oh. Multiple times over, my friend.

4:09What? I'm old. Yeah. I didn't have my first kid till I was in my, and only, till I was in my 30s. And she has a couple of kids. Oh. Yep. I'm super old. Yeah. What's up, Tiffany? Not well. No. Oh, great. Probably break a leg. I know who does dance. Our co-host. The wonderful Tiffany. See that? How are you, Tiffany? Hey, hey Lauren. Lauren. All right. There we go. There it is. Yeah. There it is. Um, good. I'm just hanging with my dog, my coffee, and you know, Bitcoin today. I'm super bullish on certain, my day. Super bullish. Yeah. Bitcoin broke up with a boner, right? Is that healthy? Morning wood. Yeah. Green boner. Yeah. I mean, I would normally get that checked out if it was green, but the other parts probably are green. Yeah. Yeah. What's going on, dark side? It's going on, brother. The top of the day to you.

5:09Interventions gone wild. Treasure is again. Yeah. Good stuff. Money being sprayed around like. Tell the paper. Money printing over. That thing you posted dark about. It was around, uh, what, 12 billion of purchases. Does that mean they just went past the four billion they were talking about? Yeah, just a little bit past. Yeah, just a smidge. Just a touch. Well, there's no ceilings in the fiat system, right? Yeah. Um, even more interesting is the end today, which is getting absolutely bought like crazy. Don't know who and why, but we can take our guests on who's intervening in the end. So you're intervening in the treasuries, you're intervening in the end. At the same time, the price of real molecules is screaming higher. Diesel prices overnight up 5% here in Las Vegas. Wow. Those, those are big moves, right? Like that's, you know, remember diesel is food.

6:12It's good. It's an everything, right? So I had a diesel rabbit dark. It's my food car. Yeah. Yeah. My dad's old car and then the game. You know the hardest part about that coming out as gay to your parents. That's that that part was true. Yeah. But they they love me. You're welcome. Here all day. You know, you can't have a more bullish setup for Bitcoin than what's going on right now. Um, I just, I don't know else to say. I mean, you know, they are panicking. There's panic amongst the policy makers, central bankers. And definitely looks like other people are agreeing with you judging on prices of certain things this morning. So yeah, a lot of money being puked out of the fourth dimension into another unrealistic place, which people just can't grasp these type of numbers. I can't trillions of dollars. It's just really hard for my little pea brain to wrap around.

7:12I really think we're going to be in quintillion soon. Yeah. We never used the word trillion and I, you know, and then suddenly it's a number. You got a hair ball. Yeah. I was trying to do my walk in my Christopher walk in depression. Cause I was so, yeah. Okay. Let's get on. Okay. Hey, I wanted to say how to fill because he's not up here very often. What's going on, Phil? Hey, guys, what's up? Dunskies. It's another beautiful day. It mean Bitcoin's up. It's a, how can you not be bullish with everything going on? But now I'm not looking forward to refilling my oil tank with diesel for the winter that's coming up here in New England. So that'll be fun. But, yeah. But I do have a wedding this weekend. I'm going to, and what is the most perfect gift, right? Freedom money. So I got a stamp seed. I already had all the Annville and the keys. So I'm going to stamp in 24 words, giving it an envelope and pray for the best, you know.

8:14But, Phil, are they, are they good friends of yours? They are. There are actually people I've known for 15 years. Do you have like, like, photos from a time you guys were all together? Um, if I think, yeah, I could get something like that. So here's just a fun little idea. Take that stamp and put it behind a picture of a frame. And granted on to the new Blake chain. No, no, just give them the picture. And when they open it, they're going to be like, oh, wow, this is nice. You know, it's not on their, uh, their registry list or whatever, but, you know, it's a cool picture. It's in a nice frame and just give it some time. Give it whatever a month. It'll be like the coolest, longest gift. And you're like, hey, you did take the picture out of the frame. Didn't you? And they're like, what? And then they'll see that you put that in there and just sort of helps, um, start the narrative of being able to keep a secret. I did that with an engagement ring once, Territz. Similar. And then I got a gift that sat in this person's house for like eight months.

9:16No, that's just the girl. The girl is not interested in you. No, I actually had to have her destroy the thing with the hammer, which she didn't want to do because she liked the gift, but inside was hidden engagement ring. So every girl you've ever met or gone out with, there's an engagement ring hiding somewhere, just in case. Somewhere. Yeah, I flew her out to some remote, uh, airstrip in the middle of BF, nowhere, Canada, to do all this. It was fun. Anyway, that's a great idea. I love that. That's awesome. But, you know, I love the element of surprise, Terrence. I think that's a great idea. I'm going to do that. That's awesome. But yeah, good morning, everybody. Good morning, Phil. I'd to fill up my, uh, truck 33 gallons. That's pretty pricey here in California. Cost me $150. So yeah, that's, that's not fun. But like Darkside said, a lot of things like, uh, we're talking Australia, huge mining industry, all. Diesel driven. So like a lot of these things are going to get impacted. Who's next on our list, Terrence?

10:16Well, you know who's next, but we have to figure out what the four drinking words are before he says. And now I'm going to have to get some dailies because I'm drinking coffee and I don't think my scotch goes very well with coffee. So, uh, Trump, Trump for sure. Well, Trump, uh, taxes, taxes, uh, petafiles. No. Yeah, petafiles. I don't want to drink too much this early in the morning though. Yeah, maybe, uh, hang on. Frogs. Frogs. No, no, no, no, no, no, no, frogs. All right, let's go with frogs. What's up, too, money? Shadele kids, shadele. Um, no, it was entertaining us today. The, the, the go between between Mars and dark. And I'm like, I'm kind of like the weird guy in the middle who's like, hey, yeah, I get that. I don't know if you're in the middle. I think you're at one extreme or the other. I just had to figure out what extreme that is. Right? Like dark. No, no, no, for sure. Right. Mars isn't either. Yeah. So it's kind of funny, um, how the, the blend between the two is, um, you know, I think we're,

11:16looking to be money, bringing us all together with a balanced view. Yeah, that's the, what, how many of us? He took the whole thing. Bring the optimistic. He went to the doctor. Um, I always stand. I just try to call out, you know, the fricking haters and the losers. That's all, you know, so. This must be in the room. That's what's going on. No, my kids are both in college now. They're both, um, I'm an empty nester. And, um, I'm looking forward to the hurricane this weekend, hitting us, Terrence, but I think it kind of died off. So I guess we're good. So. No hurricane, but, um, happy Friday, guys. Wait, it's Thursday. It's, yeah, happy, happy Thursday. Anyways, I didn't take any shots. Yeah, I'm just showing that I guys. I got just really can. Yeah, this is a new, a new and improved G money. Yeah, they've share in the love. He's been rehabilitated. Yeah, it's one of the themes that we talked about yesterday and our little weird meetup thing, uh, was, you know, all this division is, is very harmful. So finding ways to, sorry, Tiffany, I'm getting some feedback. Go ahead. Oh, oh, I know I just chimed in.

12:17Go, I wasn't, I was like, no, no, I was good. I was hearing myself probably through your, um, yes, seriously, we're good. Okay. No, I was just finishing my point, which was finding ways to actually build unity again because I know, especially during this last stupid bit stuff, it really caused a lot of division and finding ways to create unity again. I think was a theme of something we talked about in our little meetup yesterday. Go ahead, Tiffany. Oh, I was literally just saying no headaches today for Bitcoin today. Like how wonderful because nobody's taking shots yet and G money's just chilling. Yeah. It's great. Hey, Tiffany, I missed the, the afternoon space yesterday. But what was the, what was the high signal from it? Yeah, we talked about, um, people's perspectives on has the plot changed at all for Bitcoin has a narrative changed is like noise, a narrative, narrative of the noise, like type deal and just kind of went around the room and had people share their own thoughts.

13:17And I found it to be quite positive. And, um, yeah. So I mean, curious to hear what other people's thoughts were here because I don't think anybody I see on stage right now got to share their perspective. Was there a common narrative that people thought was them narrative or changed or what are people thinking? Um, yeah, like I said, it was pretty positive, Terence. So that part I get, but I'm looking for specifics. Yeah, I know you are. You should have come. Um, yeah. Did you even listen to the space? Was I there? Is a great question? Was I present? Is the elevator at the top floor right now or is it still? Is my coffee, I am out about two sips in, right? Does that what we're, we're happening, that's what's happening. No, it was, it was good. Like, you know, sailors has changed his kind of like, but this didn't come up yesterday, but I was thinking about it. Um, you know, never saw your Bitcoin as one of the narratives, right? And he's been selling some Bitcoin and the whole, well, he told you to not sell yours.

14:19That's true. He said, well, I could sell mine. Right, you're right. So well, I haven't sold mine. So everybody knows that now. And that just kind of like thoughts around, you know, has like, what are your thoughts on the last six months and with the cold card hack and where, where's, you know, America going kind of thought process? And yeah, it was, I mean, overall, I want to better summary. How about you, Lauren? Summaries. Yeah, I was, I think what you were saying is, was there a general consensus from the group on where we were going? Yeah, they saying, hey, you know, it's, it's shifted from a meat of exchange to store a value or hey, it's shifted from, you know, the, the, the, the plebs and, you know, separating money from state to big Bitcoin or, you know, because those, those are narratives that people are saying are happening. I don't know if they're happening, but, you know, maybe, but, um, but if you don't know, then that's fine.

15:20I think it's still, if you were sleeping through your own space, that's fine. No, it's still, you know, hanging in the store of value, ranging and I wrote, I wrote an article on my own thoughts on, they're going as money. They're going as money. Maybe crisis needs to potentially happen for Bitcoin to become a, you know, account, which is technically tears law and we talk a lot of questions law and that's, you know, bad money pushes out the good and tears laws, the opposite, we're good money pushes out the bad and I talked about my own perspective in regards to that, like how are we going to get to you know, of account if the cases that we need a crisis or for us, you know, to all self custody are, are Bitcoin or for a unit of account to come about and, you know, that was, so did you, did you view, um, unless you were, maybe you were in diapers, I have no idea, but were you, um, did you view the great financial crisis, 2008, 2009, as a, as a, as a big crisis and, and equally, you, you, COVID as a, as a massive crisis. Both.

16:20I was, I was, I was coming up, yes. Sorry, are you saying we need an event at that level, um, for people to really wake up and recognize Bitcoin, like for more people to come in who aren't paying attention? No, I'd be that, sorry, with, with tears law, you actually need your currency to break entirely and not just erode like our, like the dollar is doing, it's just eroding. And like for example, the, I give an example, the cruzado in Brazil in the 80s, the mid 80s broke and that was the crisis and we eventually came out in 1994 and Brazil with a, um, with the rail and we, well, I guess it went to the URV first, which everybody could grasp on to the URV and that was like the, you know, of account and then we were able to break into the rail and that only happened because of the hyperinflation and well, they stole

17:21everybody's bank counts for one and dipped into, oh wow. Oh wow. They really went and just seized people's bank accounts in Brazil as well. Oh, yeah, my family lost all of our money in that, yes, accurate. Oh, way. Yes. Yeah, that's why her family are, are Bitcoiners, including her dad who comes in here a lot. So, I mean, I love hearing from my dad because I was not in diapers, but closer to diapers. So I think getting his perspective is, you know, he was present, he was working international banking at the time and which is kind of ironic. So his, his perspective is a lot more valid than my own being, you know, young and delightful. So yeah, that's, that's just something to take, to think about is, you know, the dollars eroding and I don't know if, because we're the world's reserve currency, if we are ever going to get to you know, of account in the same way or if we need that kind of a crisis to happen here in the United States, like in other countries, it's, it's, they're not the world's reserve currency, right?

18:21So do we need that is my question. Do we need the crisis for people to self-cust? Do we need the crisis for, you know, to account happen or will it always just be these circular economies with medium of exchange and or store a value here in the United States? And interesting question to ask the rooms. It's a good thought because I think a lot of the winners who are here now came due to COVID or came due to the Canadian trucker crisis came due to the, you know, the sanctions of Russia, like a lot, or at least it woke us, a lot of us up, like even though I came in way before COVID, COVID is what, what gave me conviction. COVID was like, oh crap, are you kidding me? So yeah, maybe we do, maybe, maybe something like that will happen and more people will come to Bitcoin. Dark. Well, I got conviction during long term capital management in 1998. Dotcom bubble in 2000. Let's not forget the Russian default, Thai bot kind of mess in the 90s. Then we went to the GFC.

19:22Then we went to COVID. Like, how many times do you need conviction? I'm so glad you brought up the Brazilian situation, which was the Venezuela situation, the Argentinian situation that's played out around the globe and Russia defaulted. Countries have always overplayed their hands, written overplayed their hand. And certainly the US is right up against it. I couldn't agree more. Like, look, I'm taking a ton of shit on this app right now for telling the truth that the US will kind of run into this massive crisis. What's funny to me is I've been saying the same thing now for two years. If you look at what's happened over the course of those two years, we're closer now than ever before to that crisis. And for some reason, the voices kind of attacking me have gotten louder and louder and louder. It's almost like a group of within English accent. Yeah, the group of the beta males. And of course, yes, we shouldn't leave out British. We don't want to leave about that guy. Yeah, very thanks, Fluffer.

20:25Look at, you know, the bottom line is if you look around you at the just today alone, the amount of intervention by policymakers and central bankers into our markets, you have the yen, like absolutely, you know, being bought to high holy hell. I don't think that's happening by you and me. I think that's the central bankers. You have a secretary of percent uping his from two billion to four billion to 12 and a half billion in what a week. And now you have markets like oil, gold, silver, starting to rip. Everything that's real is starting to rip, including Bitcoin, obviously. And at the same time, the voices are just never gotten louder. I think Mars is a great guy. Like, you know, I enjoy talking with him, but I think he's just dead wrong. And maybe it's just that fear because as we get closer to this impending crisis, you know, people are afraid and you should be afraid, right?

21:27Like the potential for things to go sideways is really high. That doesn't mean it will happen. And when I say, hi, I don't think above 50%, but I think we're into that 20 to 30% range that something's going to break here. And oh, go ahead, Doug. Yeah, no, I think those are really high numbers, right? And yeah, look, the industry, 81 grand. Again, I just think it's all going to happen very quickly. You're going to wake up and just not know what hit you. And then, you know, it's those people that have Bitcoin in self-custody that are going to at least have the ability to transact. Because again, I just see real problems on the horizon. And maybe I'm alone in that. It's okay, I'm not going to back down. You can yell at me all you want. I'm going to continue to speak the truth, right? Bitcoin, you know, held at Coinbase or Bitcoin, and I bet is not going to save you. Yeah, I don't disagree with the trajectory that you've been calling for over the last two years,

22:33Doug. I've been saying the last exact same thing since I got into the banking industry in 2010. My disagreement, perhaps, is where I believe that this system will blow out not to just 40 trillion and then trend and debt. It'll go to 80 trillion in debt. And then we'll go to 120 trillion in debt. And while that happens, you will not see a cataclysmic collapse of the banking system for of the dollar. Things will just continue to a road to get worse. The current system will persist. People will get poorer as a result. Prices will go up. And that's why you need Bitcoin. That's the simple disagreement. Yeah, though I get it. Look, is it a slow motion car crash or is it a train crash? Right? And I think we've been in the slow motion car crash since 0809. You know, I would argue. And now it's going to, in my personal opinion, it's going to accelerate because the problems aren't just in the US.

23:33It's a global problem. The problems in Europe far outweigh the problems here. And my thesis all along has been whatever crisis is coming our way will not start here. It will end here. Right? It will start overseas, whether that's UK, France, Japan, wherever, but just understanding the global derivatives market and taking Warren Buffett. And I'm the Warren Buffett fan. The one thing I do agree with him on is that derivatives are financial weapons of mass destruction. And we have quadrillions of them. In 0809, those derivatives were moved on to from a separate line item on the bank's balance sheet into depositors, which backed them. So, you know, look, I just don't see this being a slow motion car crash for the next 10 years. And maybe I could be definitely wrong. I think the odds are still in your favor, Mars, but I think as the odds begin to creep higher

24:35on the side of some type of, you know, real problem, you'll see Bitcoin and Gold Silver just explode because the risk of being on the financial rails are so high if something goes wrong. So why would you sit there if you don't have to? Well, the other thing I'll say is that the odds of a perhaps banking, contagion, sort of situation are very high over the next decade. Something's going to break somewhere. Maybe it's a banking system or real estate sometimes. Something's going to go really wrong. My thesis though, is that they will continue to socialize the losses. They will print their way, which will contribute to inflation and the money supply and all that good stuff, but that they will build it out. They will build it out and that the system will survive. That's why it survives. That's why it's so nasty. Is it because it has a printer and it's social and it makes us regular people take experience those losses when it doesn't allow for creative disrupting them?

25:38Yeah, 100% agree that they will try to bail it out. No question. The point that I make is that we're already up against it. So the ability to print from here on a massive scale and throw inflation back up. I mean, what does it look like when a McDonald's burgers, 14 bucks, 18 bucks, 25 bucks? At some point, it just crashes the system. There's a level of inflation that we just can't take. And even a garden variety recession at this point would push our deficit to what, $5, $7, $10 trillion. We're so far up against it that I'm not sure that the policy response that you're talking about, this ability to just extend and pretend exists. Maybe it does. I hope it does. I hope for all of our sakes it does. But I'm not sure it does. Yeah, it's funny because Corey Clipstein just came out with a video basically seeing

26:40the exact same thing I was trying to say yesterday. I haven't watched it yet, but I'm interested deep. He thinks they're going to kick the can down for kick the can down the road for decades. And you know, that's another way of putting it. Hey, Mars, Mars, I listen, one of the things you said that kind of resonated a lot with me was you said, you know, you don't have to be humoristic. And you you said something like, I had much less, uh, I had much less success, orange-pelling people based on endumerism than I do. Um, that I did with just saying, Hey, you're, you're, you're, you're, you're might as going to be frittered away now. And I agree with that, Mars. So I, but having said that, I think, you know, there's this feeling that's being pushed by British and Corey and a bunch of other people that, hey, we're just going to be fine. We're just putting our way out of it. I do think that there's actually a pretty good chance that we have some new great financial

27:40crisis, uh, right? I do think we're going to have, we're likely to have that over the next 10 years. I really do. So do you think that's bigger than the GFC? Yeah, I think so. I think we're going to have something for the record. So, yeah, so I think we're going to have something bigger than the GFC, a real crash, right? Which is, which is sort of just spiraling out of it. Like the same with the GFC, it just started, it started small like the subprime that was, like who cares about subprime? And then it's sort of spiral to all real estate, then a spiritual spiral to AIG and, you know, then it, but I think we're going to get something equivalent where, you know, something's in the start. It's going to be these data centers. It's going to be, you know, I don't know what it's going to be, right? But it's, it's just too much debt and it's precious. That's what I think is going to happen. Do you think it could escalate to the point? You probably weren't here when Tiffany was describing

28:40what her family went through in Brazil, but do you think it could escalate to a point where we actually, as citizens, had our bank account seized? Would it be that or looks similar to what you described where people are losing their pensions and whatnot? Yeah, I think it could, it might even involve bank account seizures. Yeah, I do think it's possible. Look, I think if you think that's impossible, the system will just keep in you. I don't know. I think, I think, you know, the, the GFC could have gone, could have gone a number of different ways, right? It's like that, that movie, a margin call, you know what I mean? It could go one of multiple ways, right? Now, the system was saved. There was a print, you know, there was quantitative easing, Ben Bernanke to the rescue. They gave him a Nobel Prize, everything, whatever. But, you know, I don't know what, I don't know what that looks like, right? And I don't know. I suspect that if we get there,

29:41and we get there under President AOC, I keep on using the President AOC because I think it's, it's possible, right? Then we get, you know, capital controls, you know, bank seizures, you know, tax on rich people. I mean, don't forget what happened with Roosevelt, right? And it wasn't just the 6102. It was bank holiday, you know, it was like they closed the banks for a week in America, you know, in 1932. You know, basically from, people always think America has been this, you know, this great prosperous country. Well, we weren't from 1932 to 1945, basically, right? We had, we had rations on things like coffee. You could only have one cup of coffee a day, you know, I mean, like, this is America up, you know, from the depression through the end of the, the, the first world war, the second world war. You know, so, you know, everybody about make America great again, what, what decade are we talking about? You know, the 60s, you know,

30:45the 50s? I don't know. You know, but I do think that there is, the base case, I'd say, is continued inflation, frittering away, lying about statistics, etc. That eats up all your capital. But I also think there's a very real probably 30% chance of a major, maybe 50, maybe 60% chance of a major crisis that just takes the wheels off the economy and and we'll live through it. We will live through it, not everybody will live through it, but, you know, we will get through it just like we got through the 70s, we got through COVID, we got through the GFC, we will get through it. So the system will get through it, but, you know, what does it look like on the other side? I don't know, a big point, five million, you know what I mean? Like that's possible. Well, Gary, Gary said that's not possible for him. We're not, we're not going to five. That's, that's way too high. That won't happen. Now, do you think that this happens because of

31:48our debt or at least the interest on our debt or is there some, is there some breakdown in a sector, like with the great financial crisis and real estate and mortgages? You know, it's always something tangential that starts this. Like, let's just look at Japan, right? Which I was intimately involved in in the 90s and the 80s and early 90s, right? If I work for a large Japanese bank at the time, right? So I understand Japan really well and, you know, Japan in 1988 was, you know, like you could never bet against Japan. Like, never, right? It was sort of like, you think never bet against America? Never bet against Japan in 1988, right? Well, by 1992, you know, Japan was in shambles and, you know, where did it start? It started with this little trading scandal at this company called Recruit and that involved the Prime Minister of the Time and corruption. So, you know, these things tend to escalate. So I don't know what the trigger

32:50is going to be. But once these things start escalating, they take down things, right? It's sort of like Silicon Valley bank went bust in what a day. You know what I mean? So, you know, things, things can move very quickly once the, once you've got one thing leading to another thing leading to another thing. So what could it be? I mean, it's going to be debt, right? We're massively in debt and, and we have to finance this debt, right? And, you know, I think that the one thing Trump's done really badly is he really has not convinced a lot of other people to really want to invest in the US. And then he can say I did. I got commitments from all x, y, z. But actually, you know, I think, you know, you see like the Netherlands are pulling their gold out of New York, you know, it's just like every, you know, if you're a Russian or Canadian or Iranian, you know, or,

33:53you know, the last thing you want to do is trust the US, you know, like Iran is not using tether anytime soon, right? Because they just don't trust it. So I think, you know, this is the problem we have is we are, you know, we, we depend on the world to finance our $40 trillion debt. But we're telling the world we can freeze your assets, we're going to insult you, we're going to take over your country, look what we did in Venezuela, you know, we're going to take your house, like you attack your own investors and they're going to leave. And so, you know, China, India, Japan, they're, I mean, these guys, these guys, you know, they're, they're, they're, they're not very far away from just dumping all their treasuries. So I think that's, that's the biggest mistake he made. Can I jump in here real quick, Terrence? Go ahead, Terrence. Yeah. Oh, hey, Fred, kind of, it's tagging, tag teaming on Fred and your kind of question to Fred Terrence. We spoke a little

35:00bit last night about stable coins. We'll Bitcoin and on brought it up and there's a video. I don't know if anybody watches Andre Jek on YouTube, but he has a video that just came out called How It Ends. And I'll throw it up in the nest. And basically, I haven't finished watching the last like 20 minutes, but the first half discusses what will happen, what we're talking about right now, what might happen for like what will the crisis look like? And he kind of points out that the US is could the US government could potentially, this is obviously not happening right now, could create an attack that steals our money from our bank accounts where it would, you would wake up in the morning and it would show zero dollars in your account. And this comes down to potentially an AI gone rogue. So they're US creating an attack that steals our money to off-use gate basically that they hacked it with maybe this AI gone rogue and hacked your accounts, zero dollars. And to get it

36:04back, we have to take it in the form of their of their US government, our US government digital money, aka stable points. So I'm going to throw it in the nest, you guys can take a, just take a piece of that. Boy, that sounds actually somewhat credible. That's, I hadn't thought about that. So I watched the video. Pretty amazing. And he kind of starts out with saying, pointing out that remember when the open AI, I escaped the sandbox and hacked the company that was bought by Nvidia today, hugging something, hugging face or something. And then he walks through, okay, as Tiffany laid out, the AI now escapes and attacks the banking system and the way they fix it is by giving everybody stable coins. And of course, stable coins being one to one backed, then you have now provided the buyers for the debt. Again, you know, wild scenario, possible, right? Anything's possible.

37:09Can someone explain to me why they would need to do that though? Can't they just like, if you're already using these centralized solutions, can't they just replace it? Like, why do they have to go through this whole orchestrated hack and make your bank account zero? They can just change whatever that visual you see is at any given point. And that you can obfuscate all of this. Like, I, I, well, don't they want to outsource the responsibility of any of this to happen? They outsource it to something else. Like, it's, oh, it's not us, but now we'll help you get back in. Right? Yeah, but why do they need to do that? Well, they don't need to, but they don't look like the bad guys. Yeah, I think, I think the answer to that, the answer to that question is that they want to kill the U.S. the Euro dollar system. And the way you do it is to do it all at once. Right? So no longer, when you go to a stablecoin system of fully reserve banking, of course, fully reserved by what? Fully reserved by US treasuries. But what you do is you force the foreign banks out of the

38:09dollar market and the only way they think you can create dollars now is by using stablecoins. Again, this was now, this isn't my thesis. Right? Like, this was the video that was put out. It's really good. Watch it, you know what I mean? And then come to your own conclusions. No, I, I, I did watch it. I, the only thing I pushed back against really is like, it like everyone I know, right, with a bank account and some very large bank accounts. Like, if their banks switched to a stablecoin tomorrow, like, they wouldn't care. Like, I mean, nothing to them. Like, as long as they saw the same balances they saw before, like, there's no enemy. There's no good guys. So like, if the United States right wanted to switch over to a stablecoin-denominated system, I mean, first of all, that would only really impact the, the central bank level. And then I guarantee you all these banking institutions, the Bank of America, the JP Morgan's, they're all going to move to their own private version of stablecoins. Like, everyone's going to move to a stablecoin world. It's just more efficient and a better way to be able to move. Yeah, but remember that

39:11banks, when banks create loans today, okay, they don't, they could just print money, right? They don't, they don't need to have that money back in a stablecoin scenario that you're explaining. When the bank prints money, the issue stablecoins, they actually have to back them. Right? So it's a very different system. You're going from fractional reserve banking to fully reserve banking. I'll be at fully reserved by US Treasuries. That'll be like, you know, 30-day bills. But it's a big, the kind of, you have to, why can't the stablecoins be backed by debt? They are. They're backed by Treasuries. That's by that, that's what the Genius Act is. But remember, yeah, but no, on the bank level. Well, I don't think they can. That's what the Genius Act says to an order of issues stablecoin. And that's what backed by Treasuries. Yeah, but the existing banking loan system is backed by debt. So like, the switchover isn't that well, wait a minute. It's bad. When a bank makes a loan today, right, that's an asset on the bank's balance sheet.

40:12Exactly. Because that changes if you, if you have to have that, if that loan has to be backed by Treasuries, if you have to go out and buy Treasuries. It already is through the Bottle of Prairie Capital requirements. Right. The banks have capitalization or for their, for their balance sheets. No, it's, it's huge. It's huge. No. No, I think I disagree. Yes. Yes. Well, that's, then that's just a basic misunderstanding of how banking works. Okay. Well, agree to disagree on that one. You should look into the possible requirements. I just disagree with your assumption that these, remember, that loan is an asset. It's not a liability. Exactly. Right. So that's what exactly. Yeah. I think the big thing, Andre really misses at the end of the day is if you wanted to create mass hysteria and the biggest complication to ushering in one of these systems you possibly can. Like, I see his, what he says being true. But if you wanted to make it so no one noticed,

41:14all of these banks could just upgrade their technology whenever they wanted to. And there would be virtually no impact in my opinion outside of subset of people who are really, really, into this kind of stuff and figured it out. But if you really wanted to create mass hysteria and the biggest uprising and the biggest complication, then you would go through this planned hack fallout sort of event. Yeah. Well, I think he's, the one thing I agree with him is that if you want to, if you want to enact huge amounts of change, you, you almost need the chaos, right? It's a, like, kind of his supposition was that, you know, every time there's been a massive crisis, the government's used that crisis to centralize and create more power for itself. So I do agree with that. Look guys, I mean, obviously it's just a video, right? It's one guy's kind of, you know, kind of throw it out their thesis. I just found it to be really interesting.

42:17And again, I'm not sure how even if it even works, right? Because remember, if you, nickel to your point, if the government just says to the banks, well, you have to own stable coins, that would be stuck in the courts for the next five, ten years. There'd be lawsuits, the, the whole thing would just bog down. And I think what he's saying is in order to bypass all the lawsuits and bypass everything else, you're going to need a crisis of such big proportions that people beg for the solution. Yeah, I see that side of the argument in terms of like the court side. I guess, I guess you just get to a point where you have to really think of this as a complete restructuring of the entire way the United States economy works. And like, I just don't really see much evidence that the United States government would be able to impose a stable coin on all these different banks. If anything, they're actually making it much easier for corporations to come out and issue their own version of stable coins. Like, if the government, if this whole scenario even

43:19happens, like, who says I don't just go and replace my dollars with like tether, there's so many different opt-outs and they're only making those opt-outs easier and easier every day. If they really wanted to move towards this world, the genius act would have never existed. They would be banning private stable coins. In fact, they're making it easier than ever for more private stable coins to come on to market. So I think if you take a look at what's really happening, they're making it easier and providing guidelines for regulated financial institutions to take advantage of the technology of digitization, allow them to issue their own stable coins. And I think the government's going to do the same exact thing, but it's going to sit at a higher level than the community banks and the regional banks that your average person is interacting with. Did you get that, Fred? Yeah. But look, these stable coins aren't really taking off. We're talking with Simon Dixon the other day. And the amount of tether has been stuck at 200 billion now for about a year.

44:25So this is sort of very hypothetical. Right now, the genius act has not been implemented yet. The clarity act is still pending. Banks are still fighting this stuff. So it's not like this is about to happen overnight. Fred, are you eating a sandwich already? It's so early. It's got the sandwich. It's a bagel. Come on. Now, it doesn't this blur the line between stable coins and CBDCs as well. If some of these banking institutions, why would someone tell me how they're different? Isn't it just a youthful? I'm saying like they're the same thing. They're just programmable. Right. Well, I think it's about the issuer who is issuing at a bank or some weird entity. Well, the difference is the stable coins are worse for the US economy, right? Because instead of the government keeping the interest, it's tether ink who keeps the interest. Right. Yeah, they're probably harder for them to track everybody's movements on as well.

45:30So they're not that much harder. I mean, that's true. You know, so I think that I think the, I think dark made this point like a couple weeks ago. It's like at the end of the day, does the US government really want a situation where a whole bunch of people are storing their using stable coins at 0% versus a CBDC where that spread goes to the government? I don't know. The whole thing doesn't make a lot of sense to me. Well, the spread already goes to the government because all of circles deposits and all of tether deposits are largely sitting in treasuries. Right, but not the user. That's true. They are buying the treasuries. But, but yeah, but who, they don't care about the, they don't want, they don't, they don't, they want expansion. They want to be able to get these stable coins as many people's hands as possible. Because

46:30what do they care who the issuer is because they're not going to be able to build into all the integrations that these stable coins require? Well, and if the government did have a CBDC, then they would, and they charge people zero, they're going to make the spread. That spreads it pretty big. I mean, you know, they could want that money. You know, they may want that money down the road. Look, the EU, I could see them totally wanting to do this. I think a CBDC is inevitable. I mean, we already live in a world of digital money and we already live in a world where the government has complete control of what happens to that digital money. All that CBDC is doing is moving it on to a new technology rail to make it more efficient and faster and combined the actual payment with settlement. So the government is absolutely, in my opinion, going to have a CBDC at some point. I kind of look at it as the equivalent of like these anti-CBDC acts saying like anti-internet for the government acts. Like they just don't make a lot

47:35of sense. It's absolutely true that it's an extremely powerful technology and a rogue government could use it to oppress its people. That's a fact, but I see it as more of a government problem than necessarily a technology problem. And there's actually a crypto dad, Chris Gancarlo, actually has a great segment on this. Take a look back at why we're all on X. We're all on X because essentially social media companies used their power to impose against us against free speech. And we all ran to free speech by the government to protect that. What happens when Tether or whoever else ultimately gets a DICO and they start blocking all these transactions? People are going to run back to the protection of the government to a certain level. So it's not to say that the government is always going to be worse or the government's always going to be better. But I actually think it's important to have different checks and opt in and opt out because it kind of calls both parties on it. Hey, Michael Lauren just DMed me. He said he's on X because he's

48:37unemployed. So just so you get that accurate. What's here for the ladies? No, there's revenue checks coming in often. Hey Fred, while you're here, while I have you, what time should I come over to the office? Do you have a conference? I just talked to Ben around. He said he said you were coming around here. Oh, 30. Yeah. Noon. Okay. I just want to make sure you're not last two times I went. You were out eating a sandwich. So I'm here. Okay. All right. So having the sandwich right now. The bull market is here, guys. Yeah. Why are we talking about that, Fred? We're also talking doom and gloom here. I guys, I think the bigger picture here is we've been in a bear market for almost 11 months and it's over. But that's what I think. And I think bull markets do not end in

49:37two months. They end in two years, three years. So I think this is the beginning of something big. And I think hold on to your hats because everybody's just sort of focused on when are we going to hit back all time? Hi, when are we going to hit on to a thousand? I'm kind of thinking. This year? Yeah. But I mean, we're already in September. My point is, let's start thinking a little bit ahead of time like we used to. And a couple of years out, I think this market is so we're going to plan the 200k parties. What you're saying? I think we need to plan at least the two, maybe the 250, the quarter, the quarter unit mark. And I think I think 250 is going to come in a couple of years at minimum, maximum ad most. Fred, what do you say the four year bros who are still convinced we're going to drop down to

50:42lows in October? Shout out for your bros. Yeah, I mean, it sounds like a mental illness, but I just curious what Fred thinks. You know, it's interesting because Dan Moore had put a post out saying that he actually believes in the four year cycle and he's like, and I think it's over. You know, it's sort of like, I think anybody who thinks that these things, even the four year bros, I think they don't really think it's accurate down to the day or the month. So, you know, I think even if you're a four year bro right now, you're looking at it and going, well, yeah, this is probably over. So, and Moore had, Moore had, by the way, was in my office a month ago. It's interesting. He looked at the big Bitcoin book and he was like, what's that? And that's a big big point. He starts flipping through it and he goes, I like it. So anyways, the funny thing is when you came out with that book, it was the big Bitcoin book, but today it's big Bitcoin book.

51:47Yeah, right. It's the British auto version, big Bitcoin. But I, you know, I'm just this whole big Bitcoin thing is ridiculous to me because you know, here's the thing. We're not replacing everybody, every, and British, I think, is, you know, started this thing by saying Larry thinks coming to buy your bags and stuff. You know, it's, it sounds good. You know, it sounds like, wow, you know, big, big, big bests in a big Larry Fink or a buyer. That's not what's happening at all. What's happening is you got a whole bunch of retail investors, a different class of retail investors. They're not coin based investors anymore. They're not strike investors. They're not cash app investors, right? They're not ledger and cold card users. They're, you know, Schwab investors, right? They're not buying Papuses and El Salvador. No, they're just, they're Schwab. And so what I think what's happening is we have, you know, the early guys who, who largely, I would say most OGs that I know have

52:5650 to 100% allocations to Bitcoin, right? Because the Bitcoin has just become most of their portfolio, right? So we went from, you know, a small bunch of people, you know, let's just say realistically, probably in the 10,000 people, there's probably 10,000 people who hold most of the Bitcoin, right? And those 10,000, you know, it's 10,000 people, I think the number of people who own 100 Bitcoin or more is like 10,000, roughly, right? So those 10,000 people have all their net worth in Bitcoin. And, and then we've moved from that to, you know, two million people by, or five million people by the ETF, who just have very little percentages of their net worth in Bitcoin. But it's not institutions. It's not, you know, it's not banks, it's not companies, not corporate treasuries, not sovereigns. It's just people like you and me, right? It's just

53:57other people, other retail who own it, you know, and so, you know, people like Black Rocks buying it. No, Black Rocks aren't buying it, you know, British HODL, you know, is buying it, using his I-Bit, you know, his, uh, Trabacount. So that's what's going on. It's not, this whole big, Bitcoin thing is ridiculous. Dark. I agree completely. The one point I would make is that institutions like Black Rock, you know, they figured out with ETFs that they can get your voting rights. They can be seen during the capital structure. Capital structure is really important to Wall Street guys, right? Like they look at, you know, micro strategy and they look at the capital structure. And one of the things that Bitcoin has done is it's interpositioned itself to being seen during the capital structure to you, right? So when you put your Bitcoin in I-Bit, or you hold your Bitcoin exposure in I-Bit, just realize they're seen during the capital structure to you.

54:59In some type of dissolution, we've talked about it a lot. They're going to take the Bitcoin, and you're going to get back the currency when you want it at least. Maybe you'll get back stable coins in the example that we were talking about earlier. And that's the risk in holding those products. You know, since this, since Bitcoin came out, since I got involved in 2013, it was not your keys, not your coins. That's been around forever. That, that mean, doesn't go away. So, look, British can, you know, try to pump the bags of Larry Fank or whatever, but all Larry Fink has done is he's put himself in a senior position and should they want the Bitcoin, they can take it. And that's the bottom line. Somebody heard Big Bitcoin. Yeah, I'm a little bit, I think. Go ahead, Mars, and then we'll go to Michael. I'm a little disappointed in you, Lauren. You're here in all this nonsense, and you're not correcting. You know, you know, you're here for Mars. Let's go. Bro, you know, come on. Okay, so it's all about big Bitcoin. Fred, take another British didn't start

56:02Big Bitcoin. The, the, the smear tactic that was coined, Big Bitcoin was started by Justin, but that's where and Matthew Crowder, who were framing that Big Bitcoin has co-opted the current chain and preventing the USAF, UASF. This, this started in July. So the big, big, big, mean is Bitcoin. It is everything in Bitcoin. It is the chain that exists today. It is, you know, it's a meme now to reject the idea that like corporate captured interests are destroying Bitcoin. That's, that's all it is. Yeah, we just ran with it. We just said, fine, we're Big Bitcoin. Screw you guys. We don't care. Yeah, British is, he gives that he's showing I bet, right? Which is what British does. He also, Fred is saying his true. He also shows things like Misty and, you know, knockout. You know, it's not, you know, it's not, it's not only I bet.

57:06Truth and Fred is right. A lot of people, a lot of people see, you know, BlackRock buying all this Bitcoin, but really, they just, they're into the fees, man. They're there for the fees. They're buying on the behalf of the people Fred spoke of collecting that fee and that's it. End of story. I mean, it is the case that probably the next run of Bitcoin will all be I bet. I think, you know, if I have to guess, I'd say it's going to be the next two million coins that are bought, you know, that are, that are the new buying from all these people who don't have coins. They're going to buy it through I bet. That's what they're going to do. And so I bet it's going to become an absolute monster in Bitcoin terms, right? It's not going to be strategy. I don't think, although, you know, we can debate until the cows come home whether these perpetual prefers are any good. But I think, I think the next wave is going to be I bet. And, and it's just going to be regular folks

58:07like you and me, but they're the one big difference is they're going to have much lower percent allocation to Bitcoin, which means that probably going to hold on to it much longer, much better. Because there's not that, you know, when if you buy one percent of your portfolio and something and it goes down 25%, you don't sell it, you know, you just like, well, okay, that one didn't work. So that's what I think you're going to get a steady accumulation now. And I, you know, listen, I did not expect in 2024 that we have all this OG selling. I thought that this would happen in 2024, you know, 25. I didn't expect these OGs to kind of slam this thing at 100K. Yeah, that's behind us. I bet is gateway drug. Let's hope. Michael, you were going to say something and we cut you off. No, I was just going to say, I mean, I actually think the pandering in the hey, send all your Bitcoin to BlackRock is actually extremely counterproductive.

59:13Because at the end of the day, this is all social consensus, right? The 21 million is social consensus. The Bitcoin network is social consensus. What is Bitcoin is social consensus? And the more you push the power of the network, which in a large part is the Bitcoin itself to these institutions under the control of the United States, I think you just dramatically increase the centralization of the social consensus. So I actually think it's an extremely negative narrative. I think it's bad for people to think that that's the only option. And I think it does a lot of harm to what the most important thing of Bitcoin is, which is a distributed network of individuals with a similar social consensus. If you concentrate that into a single institution or even a network of regulated institutions all under the same government, I think that's one of the biggest risk factors. I don't think it's realistic any time soon, but I think the more people who push for that centralization of the social consensus are actually taking the power out of our hands and

1:00:15giving it back to governments. I agree. Well said. Fred, you came off Mike again right before me. Go ahead. Michael was speaking. Did you want to interject there? He has something another by the sandwich. Nym. Nmbtc. Welcome to the stage. Hey, what's up? What's going on? Yeah, yeah. What came into my mind? Sounds like that. Sorry, I'm not sure who that is. Yeah, good. Yeah. Yeah, yeah. So what I have on my mind is that when we allow people that have outcoins in their names to speak, the first thing that comes to my mind is that they are affinity scammers, right? They are maybe knowledgeable about what's going on. They can't say a few words that make sense and whatever, but I don't know. I think they might have you intent. I don't

1:01:17know. Maybe I'm wrong. Maybe people just have different opinions. We have a long running history with Michael and he's been super respectful. He's also a bit coin guy. We all know he's also in favor of XRP. How can you say? How can you say? He's a bit coin guy. Come on. Not everyone isolates themselves into single assets. Some people actually, I have investments across him with every single asset class. We let other non-bitcoin people into our local meetup and we just keep it respectful and Bitcoin focused. We don't talk about altcoins, but there's folks that attend our meetups that actually do believe in other crypto coins. I also have friends that dabble in these things and I don't destroy the friendships. I have three. Well, I had four, but anyway, that's a different story. I don't know. I just ruined my friendship.

1:02:17I understand what you're saying, Nim. Michael, for the better part of two years, has been a straight shooter, honest, etc. He's an XRP guy, but that's between him and the man in the mirror. He has never tried to show anything. I was a Bitcoin guy first and I'll continue to be a huge Bitcoin guy. I'm a huge believer in Bitcoin and always have been. That's never going to change. I think the more you guys open up to other communities and just talk about Bitcoin, right? I'm not up here talking about anything else. The more you actually let more people see the reasons why you think they should have Bitcoin. This isolation is mindset, isn't it? No, I totally agree. That's why even the Blake folks, it's not us that are eliminating them from the conference or the conversation or this space. They actually have blocked me and I would still engage because

1:03:19like Michael said, I do want these conversations to take place because I think that even though this is a little tiny echo chamber, we are better stronger together with the hive mind, even though that hive mind is super richhearted sometimes. What Michael said. Yeah, yeah. It's good point. There are definitely people out there that are here to just chill crap and Michael has proven to be not one of those people. We do appreciate that. Now, here's one now. British, he is showing the shit out of Bitcoin. I bet. Yeah, no, I'm kidding. I tease. But yeah, I'm with you guys. I'm a Bitcoin in Cold Storage, not your keys, not your cheese kind of guy. But this is a journey. I was not on that journey all the time. I do appreciate that British does say, hey, if you think that there's a 10% chance that everything's going to go to shit, keep that part in Cold Storage. So that part of his thesis, I definitely agree with 100%. Everybody's on a different journey and everybody should

1:04:26really make those kind of choices on their own and not listen to influencers, etc. But just heat their words and make your own choices. There are a lot of words there. I know. A lot of words in only four made sense. What's up, British? Good evening, friends. Good morning, friends. Good morning. Good morning to you. Hello. I see you're running your own show now. This is great. I didn't know that you got your own programming. That's fantastic. No, we don't have programming. More programming. We just bullish. It's called live from Dubai. Yeah, live from Dubai. We're just we just know. Here's how my here's how my spaces work. I go into a spaces. I hear fucking dooms at the helm and I launch a space and the bullish energy gets sucked out because people are don't want to be listening to dooms and I'm proving it. The more the spaces hosts in Bitcoin

1:05:29focus on the bullishness of everything, well, just Bitcoin of everything, the more energy they'll have. God will give you energy if you are bullish. The dooms are possessed. The boomers are possessed. The doom and gloom boomers are possessed. Hey, British. We were in here. British is the doing exorcisms. British. Absolutely. Greetings. Glad you're good. Yeah, division. And we actually we even had we had I'm not trying to create the right here. Hugging it out. No, I love. I love. She money's welcome. She money's well. No, no, she money's bullish. What do you think? I'm going to create the right tricky part here, British is to try to balance. Being ready for potentially what could come with still trying to enjoy the journey because you know what you said with you said it as I was coming up, right? You said it as I was coming up, which is we have an echo chamber, right? Yeah. And I love your echo chamber. You know why the echo chamber means when

1:06:34you're inside the echo chamber, Bitcoin, it means that you've done the work to understand the asset, right? And once you've done the work to understand the asset, as Mars pointed out, the the Terrence, I love that clip that you had, which I retweeted, which is that no one's here to be depressed. And you hear the dancing grandpas and you hear their bullshit about diesel prices all the fucking time. And nobody gives a fuck. What we want to hear and what we want to talk about is the debatement trade. That's a that's a that's a much more significant percentage allocation. That's more important than anything else. We already know everything else. It's all going to shit. We understand that. We don't want to keep hearing it. And I'll keep proving it because every time every time there's a space like Bitcoin veterans that lets these idiots overrun it and get that possessed possessed energy overrun again, I'll just open up a space for the bulls. That's a free market, right? I'm feeling bullish. Bulls will go. The bulls will go where the energy goes. You guys

1:07:37do a good job at that, right? I must admit, you guys do a good job. I'm making sure that we're leaning bullish. Okay. And so therefore, you guys get you guys get energy. What about you, Terry? You feeling bullish? The universe works like that. The universe loves bulls. So it is. Tiffany knows dark ahead. Oh, maybe he got a call. What a dark was also bullish. Yeah, man. Yeah, dark is bullish. Dark was bullish. I just found I just found it amazing that dark is the first person I've met that manages to explain how he's bullish through a depressed doom and gloom boom. Millens like I just don't get it. He's like, this is the most bullish setup I've ever seen in my life. And by the way, these are prices and we're all going broke and everything's going to fucking end. I don't understand. I think it's strange to me. So is that the only number? Is that like the number one rule in your room is just to be bullish, British? 100%. Yes. So I have a couple

1:08:40rules. Number one, we don't put hands up. We fight. Okay. So you get on the stage and you use your elbows. Okay. Jenny. Where do you love that? That's the Jenny. Where the energy? Let's just fight. Right. Absolutely. We fight. Number two rule is that you don't, there's no bearishness. If you want to explain your case about what you think is going on the market, that's fine. But you don't just come up and be bear. And then for Kudo, we have another rule. And that is specifically for Kudo. And that is you don't get sassy when you're asked the question, right? Because Kudo gets sassy when he's asked the question. So then he has to sit in the audience until he learns. And British, maybe don't get so triggered next time someone disagrees with you. See what I mean? Get sassy. See? That's exactly it. It's proving my point. Kudos to you. We boot him off the island. Nobody else does this. It's only Kudo. So there's two rules and a special one for Kudo. That's what we do. And by the way, if we didn't get, if what I was saying

1:09:40wasn't true, there wouldn't be 4,200 people joining 800 people being in there for the entire spaces that wouldn't be the case. The market is talking. Most people are stupid though. Yeah. Okay. I'm bullish. The power of belief is your superpower. You got to look in the mirror and know for certain only you know, if you don't believe in yourself, Tony Robbins here, what happened? Let's go. Hey, Tony Robbins as cheesy as he is. Stewart Smiley. There is a super power to what he's teaching, which is 100% yeah, you gotta have self belief in yourself. That's the greatest secret. You got to be delusional almost. What he drives an Amazon van manifestation. Say it out loud. Yeah. Hey, dark your back. Yeah. Darks back. We're going back to the dark side. Maybe the one here. Did anyone catch predators post on

1:10:43Meta Planet? Oh, yeah. Look someone attached to that to me. We're going on with that. Yeah. It seems like Simon and Dylan were running a little bit of a scam, huh? No way. Let's go. Dark. What happened with that? Someone texted that to me. I haven't done anything. Yeah. It's really interesting. What they did apparently was that their compensation package was tied to an option pool that had an anti-delusion clause. Not only didn't have an anti-delusion clause, but essentially every time they issued more shares. And we're talking about Meta Planet just so we can get everyone understand. Every time they issued more shares, their holdings went up. It's like, what? Yeah, you gotta read it. So they were diluting, so they were diluting the shareholders. Yeah, they had to. At the same time, their ownership was increasing. Yeah, because they basically had an anti-delusion clause, which gave them a fixed percentage of the company. Right. It's like an ad drop to their own wallets.

1:11:47Yeah, they were air dropping to themselves. That's a good way of putting it. Planetor called it a mass dilution on the scale of the YMAR Republic. Yeah, just look, man, you can't, you just can't make this shit up, right? It's almost too much to take. And it looks like they undid that or ratcheted it back because of the community. That's now trending that they reverse that somehow. I don't know what the mechanics are. I have no idea. I've only read Planetor's posted by my jaw dropped. I'm like, come on, man. That's almost too much, especially when the model of your company is the issue more shares, right? Yeah. I mean, what? They got caught. Because the CEOs of the other companies like Matt Cole of Strival came out and said, listen, we don't do that. We believe all value should accrete to the shareholders blah, blah, blah. So it looks like people were and are trying to fend off some kind of narrative crisis.

1:12:50Yeah, I have to believe it was only metaplanet. But look, it goes to shut, whether it's Naka, Metaplanet, any of these things, you know, it's just better to buy the Bitcoin, you know, like in the end, in the end, the governance issues are so great. And you're not on the inside. The beauty of Bitcoin is you're on the inside, right? Like you, you are your own bank in many respects. But I just, this story is almost from, as a guy who's spent a lot of time on Wall Street, this one's hard to swallow. And I've seen a lot of scabs, right? Like this one's almost too big. For the scam, it's just a structure. They came out of the VC space. It's a common structure. It's not a scam. And they're finally unraveling it. I mean, they're a year down the road. Why did they have to do this? Is there a reason why they had to do this when nobody else did? Is there a Japanese thing? There is. There is. It's a word. It's a word British. Let me, let me educate you. It's called greed. Greed is good. Amazing. Well, right. But like, I know,

1:13:53on a, on a serious note, though, is there a reason why they had to do it like this? A ratchet is, is a common tool in early stage venture. They were a teeny tiny hotel chain that pivoted, right? If those can remember. And we're 18 months, 24 months, four to 15 months, I'm not certain timeline down the road. But they came up fast. And so there are parameters with a ratchet. It's on how soon you can kind of just out of those. And anyhow, it's a VC mechanism. So you assure some of the early stage investors that are taking the absolutely humongous risk, which is what Meta Planet was. And if you think of the rest of the field and how they have done, if they're trying to marshal capital into their early stage equity that is going to go

1:14:59IPO, they, if that just happened to be the mechanism they used to differentiate. I don't like your audio, Sharon. Can you fix that if you want to keep speaking? It's amazing. It's amazing to be people can defend the end of principle. As if Simon didn't know that his shares were exploding, that his net worth was exploding as they issued more shares and acquired more Bitcoin. I mean, I don't even know what to say, right? Like that, yes, ratchets are common. I understand what you're saying, Sharon. But well, ratchets are common in VC investing. They're, they're not really common in public companies. I'm sorry, that's, that's not correct. Right, but they are less than 24 months into being a public company. They, they're, that doesn't matter. They didn't know if you look, that doesn't matter. They share it. You're not widely known. This is not widely known. I guarantee in 90% of all Meta

1:16:05planet stockholders had no idea of this. It's very uncommon. And I think it's, I think it's a huge problem to be honest. They should off. They should just say, you know what, we're going to give all that those shares back, especially given their performance. Yes, shouldn't that be revealed on day one? Like, hey, by the way, we have this mechanism. We had it before we came treasuring. It's just nobody's reading the documents. It was in all the docs. Well, that is it a lot of reading? How, how long is it? Are there pictures? Without diagrams, no one's going to read all that. Let's have a look at the share price. Thank you, SCC. I'm surprised you didn't know this, British. You're, you're the type of person I depend on. No, I had no two. I had, this is not all of this. I don't really pay attention to Meta planet. Well, you got a suit on. So try to pay attention to these things.

1:17:05I wonder if grain of salt, for example, knew well, firstly grain of salt has not been focused on Meta planet. Right. It's been focused on. He was, he was very bullish on it back in the day. We looked at it from an investment standpoint. I had, remember Christina that was on here. Like you guys saying the ex-gold, I like Christina, but I got a, I got a troll right now. Like the ex-gold, man, sax, analyst that was like making thousands, multiple thousand dollar bets with me about Meta planet and I was like, you kidding me? Like you can go read my tweets about Meta planet. Like so I don't know. I, I really don't know. I think they, it seems like they did a good job in Japan, but this is, this is interesting. Well, now they have that American version, right? I'm forgetting what it is. Well, that was the other thing. I found it kind of weird that they'd launched an American subsidiary when you're, you've got like the moat in the Japanese markets. Like why would you not just focus on, I said this on the spaces immediately after I do in the Hong Kong thing. Like that,

1:18:06that's kind of strange to me. Like why wouldn't you focus on the Japanese markets exclusively? They wanted a non-squinty eye version. That's racist for sure. I need personally. I could say that. Just facts. Were you saying something, Sharon? No, no one laughing at you guys. He's in the long the right-stage silent territory. The more racist you sound. No, no. Terrancization, he can say. I'm not racist. I just, I just understand the way things work. I know that you ride on a camel with a towel on your head over to the bank, over in Dubai. I mean, I just, that's just a fact. I've seen photos on. No, that's racist. That's not racist. That's, no, that's being smart. Incredibly racist. No, it's just what magic curve. How is it racist? That's what they do. I'm not saying I don't like the race. I don't say I don't like the race. I'm just saying that's what the race does. Incredibly racist. Terrancization. I know, I know people

1:19:09who play basketball. They tend to be a certain color. Why? We'll call it yellow. That's not racist. That's just being factual. Yes, I could be a detective. And let's just, let's just move on smoothly. All right. Well, Sharon, were you done or would go to Jenny Weddy? Sharon was justifying Dylan and Simon, basically, air dropping themselves stock, right? Not justifying just reminding people that this was a, you but surely you would stop the ratchet as you go public. No, isn't that how it works? I've not done private equity, but isn't that how it works? You stopped that ratchet function. It depends. It depends on how it's written. It depends on the investment bankers if they catch it. Well, how come no one else has done this? But this is part of why Dylan went with them. The comp package. All right. Okay. Fair enough. Well, I think that's a problem with a lot of these companies at the end of the day. They were set up to make the founders and the owners a lot of money without any discretion.

1:20:14Oh, no, it's very lightweight. Hold on a second. We're talking about very early stage, very nascent, innovative new things with the odds of success are being way, way, way out there. So, you know, they're getting paid for the risks that they took to participate. I don't know. I like I would say the first person was innovative, which was sailor. There was some innovation there, but 15 copycats down the road. It just seems like people saw it as an opportunity to take a lot of money from common equity. This is absolutely an insane discussion. I mean, come on. The term business model was to create new shares, which did nothing but pump their bags. Sharon, how are you defending the indefensible? I can't remember who else's bags are. Correct. Sharon, were your bags pumped during this? Is that why you were okay with it? No, no. I mean, I'd be fucking if I was a meta-planet shareholder right now, it'd be pissed.

1:21:19I mean, here in justification for this, this is crazy. Like, there are people that I know that were like last week asking me like, that they've got shit tons of meta-planets. I think Mitch was one of them. Oh, he's all right. Well, you got to read your doc. I'd be pissed at myself if I didn't read my documentation. Well, I got to read my doc before I make an investment in the stock. Absolutely. Yeah, read the white paper, Jacob. It's the ICO. You got to read the terms. I mean, if I knew that my CEO, let's say I bought a MSTR, right? And every time they did an ATM, Michael Seller and Fung Lee, we're just increasing their shareholder shit. Like, what? I don't think this is defensible, Sharon. I apologize. A rocket's common. I mean, I'd have to go and look and get where in public markets. So is John Turner's now getting like every time they do like, I don't know, like, what are we doing here?

1:22:24It's completely not common in public. That's what I thought. Like, maybe in private equity, that kind of makes sense, right? Okay, it's incentives. But surely that ends when you go public. Yeah, no, it's a ratchet or design for venture investors not to get diluted, right? It gives them a senior position. They're not designed for public companies, period. And they knew that, and they just got away with it. And then when they started, when the business bottle became, let's issue more shares to buy Bitcoin, realizing that their percentage ownership was just going up every time they did it, you can argue that they stepped on the gas pedal. Yeah, I mean, it's fraud. And, you know, we can call dilute that question. Yeah, dilute it with a Christian. Yeah. I read the white paper. There's no ratchet and Bitcoin. So it just keeps it easy. Super simple. I got a hop on a call, guys. Have a great day, everybody. Okay, say hi to punchy. Well, there's peace. Can you imagine

1:23:26having a good imagination, British? No, seriously, though, like if you had the opportunity, and when you ATM the stock, right, so you dilute your shareholders and you get a piece back, how hard are you pressing that gas pedal, turns? Right now you're thinking, how can you do that? Right. You say, I'm really not. You're like, how can I be a part of that? I'm disappointed that you think that I would do that. Well, it's hard to say. I mean, you got to really erase this thought here. It's crazy. How does the race is now? I'm meaning to do with the meta planet then anyway, so Japanese needs products too, right? Don't they need to do something over there? Yeah, they got to do something. They want to enjoy their life. Hey, six, I see you're up here. Oh, go ahead, Sharon. Let's go to your first. Does anybody buy the cheap fashion gene? The what? The what? The cheap, the cheap fashion, sexy fashion for

1:24:26me. I do not think I'm like that. You mean like that? That's the thing with you buying. You get like that cheaper than that cheaper than H&M, a little hot topic. It is the cheapest you can be. Oh, yeah, Lauren shots at hot topic. Yeah, yeah. I like that. If you're a meta player, if you're a meta player, shareholder, you got to start now, I guess that's what you have to start shopping now. Yeah. I mean, could you imagine if a sailor had such a ratchet? Oh, he would be he would be raked, raked over the calls. There's the others no way. The ratchet is to offset the, you know, so many early stage investors have have shares locked as you go through the IP out. So it's their mechanism. It's one of the mechanisms that they negotiate early, early. But why are you bringing up hot topic? I'm confused. An on hot topic. Sheen is an example that had a ratchet when they went IPO. It survived their

1:25:30investment bankers, you know, changing up, changing up things. But sometimes you can't clean the cap table enough, you know, as you as you go through the IPO. So you're good with this? She's a meta planet lover. She's a ratchet lover. It was in the documents. So do you own, do you own meta planet? Is it a significant part of your portfolio? No, it's a zero portion of my portfolio. Okay. How do you think you would feel if it was a significant part of your portfolio? I told you if I had read the documents, but did you read them before you bought meta planet? I don't currently own meta planet. Oh, I thought you said you had some. No, no, I don't have it currently. I have been in and out. But it's been a long time. Sharon, you sound like you support cold card. This still. Oh my gosh. Not thank you. Are you a C-suite executive anywhere?

1:26:41I'm sorry, I didn't hear that the waves were too loud. Are you a C-suite executive anywhere? No, no, I'm laying on the beach. I don't. Okay, I ask because I just want to avoid whatever company you are in charge of and sell that stock. Oh, fuck. Oh, nice. But then again, if you did want to run like a fraud, right, you definitely want Sharon on the team. That's fucking clear. Okay, if you're the CEO of the next plan Z, I'm in, but only if I'm in early. She's actually just pointing out the truth whether we like it or not. She's just saying it's in the box and people do it. Yeah, so let's not rag on Sharon. I'm glad she came up here to let us know. All right, six, were you trying to share it? By the way, it's used to this because Sharon's from our clubhouse days. Yeah, Sharon knows. Yeah, Sharon and I used to hang out together a long time ago back in the day. She forgets because she had a different name. What's up, six? Hey, guys. Good morning to you. I was pontificating on a video from, I think, state of the

1:27:47union, no, not state of the union. They came out with a video about the clarity act and the meeting that happened with Trump a few weeks ago with all the big players in the room and a bunch of posturing and it talked about obviously Trump's rug pull on his and Melania coin and all that bullshit that happened and how he's attempting to essentially create this legislation so that he can be absolved from any future shenanigans that happens in the crypto world. This is far beyond BTC but between that, I'm kind of reading up on and studying and trying to figure that out and trying to figure out also my digital sovereignty and just getting as close to invisible as possible over the next six months to a year. So those are my thoughts. You using a cloak or what do you mean by invisible? Well, that's I'm still in the early stages of researching exactly how this is going to

1:28:53go down but you know the cold card hack all this bullshit happening with with you know this potential hack that came from Andrej Jek I saw that video too. Pretty scary shit but yeah, just trying to have the lowest smallest invisible most invisible footprint that I can digitally. What's the first step? Because I'm thinking about my high cloud right now. Yeah, I mean it's I mean I think everyone's digital footprint looks different and it's obviously pretty fucking hard to be completely off but yeah, I don't know. I mean goes as far back as the Patriot Act and what can be seen and what can't be seen, you know not being able to trust companies. You know big small I mean cold cards are pretty fucking small company but look at how massive of an impact that had globally on the potential side guys with Bitcoin and crypto.

1:29:58It's pretty it's pretty big. So you know and unfortunately you know a lot of those people lost you know their life savings and and I hope you know as a result of that that they personally and physically are okay but like that shit just haunts me. And you know with our young children coming into this this space you know I think it's important to to be a leader in that particular aspect just for you know my family right and my family's family and so on and so on. If this is going to be a generational asset protecting that now and getting ahead of it and we were so early my thought is well if we're going to get ahead of it and at least invest in it then what are the other what are the other attacked vectors that I can start creating and start creating a habits around now that'll that'll put me way ahead of the curve. So what are your let me let me do you guys let me do you guys all solid if you don't have your important accounts hooked up to something like a UBK

1:31:04or a UBK I would highly consider doing that. It's a physical device that you have to touch and plug in as your two FA so rather than the text messages which can easily be essentially broken into through backdoor engineering by going to an AT&T employee or email you have a physical key you can set up multiple of them and it makes it so you have to use that physical key to get into things like an iCloud and email or anything like that so it's a pretty simple thing you can do at I highly recommend it on almost any account that's of any importance. Yeah I know I appreciate that. What if you lose that UBK? You get a backup in fact often when you buy them if you go to UBK directly they they come in packs of two or three for that exact reason you they don't literally clone but you can have two or three keys that will access the same account so similar to multi-sig but just single-sig you you can just have a bunch of them and also if you lose all of your keys

1:32:09maybe put it put it into place you're not going to lose it. Yeah and you can by the way just about everybody you probably use integrates with UBK you just have no it's just not up front and center but it could be your regular legacy accounts you know Robinhood Vanguard whatever fidelity they all have I mean this app X I use my UBK it's like it's it's amazing. Yeah huge piece of mind huge piece of mind by having yeah so check yourself before you wreck yourself six just try to do it right. Yeah I know I'm familiar with UBK's I think I'm more you know I'm even kicking around an idea with a friend of mine and putting together potential uh AJI I think my own servers and back I'm talking about going like full well just run that's running a node running a node yeah yeah yeah yeah yeah yeah again aside from running a node like all of the rabbit all the rabbit holes and the little

1:33:13trails and breadcrumbs that people leave behind and um just regular communication that we all take for granted you could just become Amish six it's a lot easier just throw away your phone and become Amish. No I'm way I'm way too bad of a sinner for that I would I would literally burn we've been anyone I want to see if anyone has any ideas or comments around you know how to it'll become extremely digitally sovereign so thanks for that I was recommendations by the way on the UBK. I have a Google Titan security key does that you have a who-ha what what Google I know but Google Titan security key it's the same like physical two-factor authentication key but it has Google in front of it now that makes me nervous I don't know why. So you just answer your home question. Yeah I don't know I haven't heard of that. It's it's the same it's the same

1:34:17concept I mean at the end of the day nothing's fooling me. Oh great. You spend all day every day worrying about every possibility right you're always going to find more but it does the same idea the idea is someone over in whatever country wouldn't be able to get in simply by doing a backdoor through your common most common attack vectors which are email verification and text message verification so it's a great step but like are there a million different scenarios you can think of in terms of a Google hack and stuff like that where there could potentially be an issue yeah maybe but the same thing exists for UBK I always tell people yeah you want to make sure you're doing enough right where you're elevating your security to a certain level but I know a lot of people right I know someone who is maybe the most the most over the top in terms of his own security out of anyone I've ever met like doing things that I can't even really even comprehend or explain back on this space and he was socially engineered so like there's there's always a way to do these things and

1:35:20yeah you just don't want to let it consume you I don't think you could also check out EFani 6 if you haven't but a lot of Bitcoiners use EFani I use EFani it's it's helped a lot of people and I sleep well at night how do you spell that EF a and I and you can find them here on this account as well but everyone from Peter Pish to Larry LaParte Natalie Bernal you know a lot of people that were socially engineered from Simswaps all ran to EFani and I did the same back in the day so I don't have to worry about someone you know walking into you know Verizon or T-Mobile or whatever or calling and and socially engineering them or a bad employee at those companies trying to Simswap me because because they can't and you're also insured that they're so confident it won't happen you're also insured up to five million dollars so that's only a tenth of British's wealth but for many people that's that's helpful also just for everyone in the audience if you are using a common phone

1:36:21provider like an AT&T or Verizon and you just know yourself and you're not going to switch you should at least call your provider and ask to put a pin on any kind of changes to your account or any kind of resets so they'll actually let you go in and put in a code and it's a very easy way to prevent against yeah and you should roll your dice before you do that code that's how you should generate your your pin I'm actually joking what go ahead soaks no no no there's all great suggestions love it thank you so much yeah I mean I guess what you know the conversation earlier about Jix video and you know I saw someone else talk about the same thing which is you know creating a crisis just like GFC this might be an unpopular opinion just like 9-11 to where everyone's like oh yeah yeah yeah we want whatever the government's selling right now and you need to fast track this shit so that scares me more than anything because as an individual which I feel

1:37:23very very strongly about we have been siphoned and sub dry of any creativity or any individuality for the past 120 years and that coincides with how the government controls or how the powers that be control us because we are actual sheep when we're in groups but we're extremely smart as individuals so you know that that this probably going to come just like dark was talking about if it's the next 5-10 whatever years I think that that's going to happen and I want to be honest you to become Amish 6 you know the Amish none of the Amish got COVID and it's because they don't watch the news what's up Paula you guys are on a roll today it's been hilarious I was just going to say I have my lady post here but that I haven't started and back interested again let's go

1:38:26off but I all that you know I just want to comment on Andre jick because I used to watch him a lot but he went very very negative so if you look at all his videos they're dooming which I was really enjoying British's positivity around because I guess this is the time to be positive things going pretty well and yeah but but what I was going to say is it the Andres great he comes up with great ideas but he has lately gone very much on a negative slant which maybe that is going to happen but yeah that that always happens I mean not always but I mean I've seen that with Andre jick I've seen that with Tom bill you you know they're it's just turning into what they know to be true and what mainstream media figured out a long time ago is still the fear

1:39:27we see in spaces but it doesn't work because the bulls suffocate the dooms it's because there's more individuals that's why there's more individuals having individual creative thoughts are with people in these you know the and these vacuums that we kind of talked about earlier nothing wasn't the word vacuum I forget the word it was called but yeah I agree I totally agree we're all just hashing our thoughts and right now there's there's more hash rate in in the bullish camp so that's what's happening did you see that that X is taking away communities why do you think they're doing that thank god yeah we don't need communities we have spaces as long as they don't take away spaces maybe because they don't want us thinking together if they took away spaces not what things it could sparse Ebola Lauren wouldn't have anything to do of spaces right my bicycle yeah he'd write his bicycle what about social credit scores anyone have any opinions about that being nurtured under our noises right now and then being you know rolled out in some way shape or

1:40:32form in the future is it Bitcoin a kind of a social credit score don't you guys use Bitcoin as a kind of like a flat IQ test it is sort of an IQ test isn't it right so when you hang out with someone I don't need any Bitcoin I'm good and then you're like okay I don't so that so you have already have a social credit score in your head for people that's why on all those dating apps there should just be a filter are they Bitcoin or not and then you just get rid of all the ideas yeah that's called social credit score that's what I'm saying wait wait please let me know when that stands up well you know it Sharon what you mean you're married Sharon well she she isn't now but it has to be Bitcoin not I bid there you go see that's another filter and in fact you should just say that in your profile poll it has to be Bitcoin not I bid and then see how many people block you on the date and I I'm not gonna even step on that grenade I don't

1:41:40know why it wasn't racist British it's not it's fine I know I get it I get it when it's a woman that says it like I don't know I feel like a little bit more awkward about kind of diving in on that topic hey British did you I think because Paula was just talking about I think it's because I'm such a respectful person I think that's what it is yeah especially since you acknowledge it that's what makes you very respectful yeah yeah um like if any if you had said that there would have been a whole discussion but Paula said it's on my that's true okay all right hey Paula I think you got the bit key as well from from that Joel guy I know you did British I still have an open mind it's in the body I didn't get anything from yeah he sent you one he doesn't have my address how do you send it he sent you he sends you sats and he just no I have never received sats from me I saw the exchange between you and him online he kept saying I kept contacting you but maybe you just know he's tried to contact me I'm not sending me the address him you know it's not an ad it's

1:42:45do you understand how Bitcoin addresses work no no that's what I mean I haven't sent him a Bitcoin address for him to send anything gotcha well you did it right Paula yeah he he so I interviewed this guy in UK and that guy lost all his Bitcoin which wasn't um I'm not sure he's an American yeah this guy was like a congressman this guy lost this guy lost all his you're talking about someone else or Joel yes yes so when I was interviewing him he said Joel sent him two or three bit keys and yeah he's sending people because he believes in it so much so yeah I restarted Joel and because it was right after cold card and it does make a lot of sense but I've been listening to you Terrence and you said there's some some concerns with not having your own key yeah I want

1:43:45about the server risk and the fact that it's like there's so many risks with Bitcoin and I'm not even a tech genius like Terrence and I could see them yeah yeah British is just a bullish genius he's a genius on bullishness I just spoke to a couple people and I was like all right tell me about the security on this so they're like well here's the his facts and I was like well I think I'll stay away from that British is now selling Bitcoin insurance that's that's his main mission these days I am now an agent for Bitcoin insurance and all of the policies are written in a way that they'll never pay out so I can underwrite anyone at this point isn't that the insurance business model though hey pay your dues and we don't have to but yeah so they're doing it right that makes sense well I don't see that we're doing it wrong I'm like a good business he's on the ratchet program yeah no but I but anyways I in all seriousness I do want to check out the bit key I'm I'm sure it's beautiful and it's got a nice interface and it could have some great use cases but no I would

1:44:49not personally stick any significant sums in there just for for all the reasons that we know it's like I want to know I want to know my seed words I want to know my private keys I want to know exactly where they are and I don't want to have any any majority or quorum of them generated you know even loosely connected to the same company as as good actresses they may be in a fortune 500 company and all of that but I do want to check it out and that's why I call it the lady coin purse I just picture it is like the girls love it and it's like you know for what you're walking around with or whatever you know maybe but I do not be sticking generational wealth in in that one device I don't know that's but the one the one good thing is they don't have a copy of everything together that I mean the guy was on Natalie Brunel and he explained but what you're saying is there is probably some way because they well I'm sure they're right but so they so they make the device right you get the device so you have to trust the entropy of that device right okay so

1:45:55they're saying that it's generated in within the device so nothing that they've set up ahead of time but let's just let's just have a conspiracy theory for a second and pretend that somehow they do know or they've lowered the entropy like like what happened with cold card and I don't think that's the case at all just like just pretend for a second and then they hold a key they they hold a backup key so well there's a quorum right there now they say that is impossible the the physical device the octagon whatever it is generates it right there and that's probably true I mean that's how a lot of hardware devices work you know if you get something from treasure that you know there's a company but they're also not holding a key they're just that's just that one key and so you can get several different companies and different manufacturers and different algorithms for creating that entropy and bringing those together with bitkey you're using their algorithm and their cloud for one of the keys and their algorithm that they developed on a device so to me that's a quorum

1:47:02and I'm sure there's nothing nefarious and it probably operates the way it should but I don't just for me I don't like I don't like that unknown now they do say they're working on a way where you can import your own key so you can generate a key on your own with one of your own devices or roll your dice and then import that that would be huge that's different and or if you can extract a key with your own seed words like any of those and maybe they're moving in that direction that would be amazing because they already have gone from you know the screenless like when I first saw there was a guy from bitkey over at Pacific Bitcoin in Santa Monica I think it was the 2023 or 2022 conference there at the Santa Monica airport and he was walking around showing people and and handing these little discs out and there was no screen and I'm like well where's your keys like oh it's just in the device you don't have to worry I'm like well how do you generate it you just put your finger on this thing and it generates it I'm like well how do I know what it is if I lose it well you there's this emergency kit you can download and blah blah blah and again maybe it's maybe it's great there's

1:48:06a lot of hardcore bitquenners who you know promote time locking and multi-sig and whatnot like I do who are like hey you know what I tried this out and damn it's pretty freaking cool but most of them do tend to agree do not be sticking your you know generational wealth in there and here's why blah blah blah so I think we must be a lot of mine there they they added a screen right to the to the later one yes which is helpful it's like I want to know I want to see that it's that it's signing and what it's signing now I don't know if there's coin control and and you can you can choose your own UTXOs and not I you know but this is why I want to try it I just like to try out most devices I unfortunately or fortunately never never tried the cold card it just sounded too confusing to me but that's why I like the idea of this and I I like Jack Dorsey I like what his companies doing and you know there's so many things to like about this but if you take the dark side you got to be like ah well what about this this this and that and we learn from cold card that you know we do kind

1:49:08of have to be skeptical of these things that that sound really great you know British has made good points about cold cards like all these people on all these old G's and all these people on on clubhouse and you know even American Hottle has come out and said yeah you know I got it because I thought that's what the cool kids were doing I thought you know to be the cool bitquenner you had to have the cold card and I have I had a lot of clients who were like well shouldn't I have the cold card should have the cold card I'm like you can but I can't necessarily onboard you into a multi-sig with a cold card because I just don't intimately know it but if you want to generate a key with the cold card great but I suggest then choosing a treasure or some other you know Jade Bitbox whatever just so you have two separate companies that you know well have a less chance of colluding um and that's the other thing sorry about self-custody right if you get too complicated for your own self that's how many people lose their coin well that's the thing and that's why I think the bit key key is good for people and I think that's why what British talks about is good for people

1:50:09it's like you know what's what's worse you know it's like the whole KYC and taxes conversations like yeah let's let's pay less taxes yeah let's let's um you know be as private as we can but above all of that let's not lose our money right that's the most important if you're going to lose your money then what then there's no point at all so um you know we often use the the analogy of driving a car and I think that's apropos and you know some people like British you know like to be chauffeur around and which is which is great he can be chauffeur around he feels good no but that's when he's not going to a meeting that's just when he's going to the to the local pub to drink camel's milk that's it okay thanks for the clarification yeah and I threw you off you're a little diet right there sorry no no but I just saw the time Lauren and unless you want to jump into another subject yeah I got it I got to run you got to go to

1:51:13the vet again no I'm gonna head over to Fred I'm heading over to Fred's yeah they have a little a talk show stage a little Bitcoin talk show stage that they wanted to show me so I'm gonna go check it out that sounds cool yeah sounds fun it's like it's like cramers cramers talk show in this apartment if you guys no sign filled little rinketing setup so Lauren you want to do want to place out listen when else has anything to say because I don't see any hands you know Sharon she came in here and talked about ratchets and I was just thinking about all the tools in my garage and I just thought I don't know what this thanks for sharing yeah and then Paul is talking about late purse yeah Tiffany's talking about Brazil it's like you know I love that our space has more women than any other space but you know sometimes I don't I'm like what are you guys talking about yeah what the hell yeah that's why we have people like Michael Michael and six are here why not Brazil is but you were you were talking about all these currencies I never heard of I know

1:52:16what the real is but you were talking about UV rays and something in between raise your hand if you want to have any parting comments we're not going to go around the horn so just throw your hand up if you want to say a couple words before we shut her down we'll start with yellow they were yellow pumping what's up pumping what's up pump it we're pumping what are we pumping yellow pump me hard you know I heard I got at the end that we're pumping so oh yeah 81k I see yeah we're getting there yeah you just said we're not raising hands but sharing raising our I said we are it's that if you have any comments oh we are throw your hand up in the air like this don't occur yeah oh gosh Tiffany's bringing more people up I'm trying to close the head I just brought up pursuing I had a song for yellow I wanted to play for home and they were all yellow well not really for you I guess yellow brought up the pumping yeah pumping so

1:53:17pumping so is it pump it up can I play it sure why not okay British yellow it does say cohosts what are weird it's like she asked questions when it says cohosts is that weird alarm yeah indeed that's sailor it sounds like sailor it is guys but let's pay attention to the world oh that sounds like work I'm here but so we don't have to work it's like two words going up going going I need the closed caption version going going going going going going going going going I was for anybody who's bullish in the market thanks Tiffany let's go Sharon and then we'll go pursuing Sharon we're about to close her down yeah why you just wanted to say I whether whether everybody argues or agrees with each other I absolutely love this community the best

1:54:18community I've all except for the xrp guy in here screw him now I'm kidding Michael that was a joke no I'm waiting Sharon and it's around the world it's an awesome community thank you so much everyone here here a second that pursuing hey it's always one second yellow that doesn't sound like pursuing it sounds like yellow yellow pursuing go ahead yeah we'll ask you your question right after can we go to pursuing then come right back to you yellow is that allowed that's allowed yeah perfect perfect hey it's always great to hear Sharon's voice I just want to say for Joel giving away the bit key I like the fact he's put his money where his mouth is and I know he gets some flat from people like skeptical but here's a guy that's promoting is promoting he because he believes in the product is willing to give it away I say kudos to him it may not meet everybody's thing but I love what he's doing so and I'm very bullish it's a good space his thanks it you know it's impressive and I was skeptical I thought maybe it was some kind of scam and he's like no I'm not even gonna send you the bit key I'm

1:55:22gonna send you $250 and stats you can do whatever you want with it I would just hope you buy it I'm like yeah right okay here's my address and boom there it was I was like oh damn this guy's this guy's for real and I also have received the money waiting for my bit key to show up and I'll test it play with it but you know we all have the opportunity to give away a dollar two dollars to a new person and many people are skeptical and they say hey why are you giving away your money because it's not people don't normally give away their money but I enjoy the action of sharing a little bit of stats with somebody to show them the beauty of the Bitcoin transaction so and hopefully our our own way we're being generous people and we want to share beautiful I just DMed you my Bitcoin address I appreciate it thank you so yeah everyone DM pursuing he's giving away stats right now yeah 10,000 stats per DM first 10 first 10 DMs pursuing sending out 10,000 a pop you know but for new people hey it's great I know so I'm saying I'm new I'd like to see how this Satoshi thing

1:56:22yeah right what do you mean yeah right I just made you give me one big one give you back to no no no no give him give him give him 12 words yellow he'll send you 24 words that's even better yellow hat a question yeah please shoot there is I always wonder why are you looking at the picture it's looking at I'm looking at the water I'm out I'm out and I'm out on the boat I'm boating and I'm wearing I think it's 11 ledgers around my neck and one cold card stuffed up his ass well you know people always they joke about these boating access but like what if you are boating like you're literally boating your water scheme whatever and you need to send a transaction right and if you're multi-sig like I am I need to get out my five of nine because I need five of them to sign and then I can send my transaction that's a great point when you can clear your thoughts that's when you start to think about sending or spending your bit so it's not just to me it's a real thing I

1:57:23wear them with me everywhere yeah and I did lose mine in a boating accident but thankfully I had a cold card as a backup so well this is why I want to start offering boating lessons like why are Bitcoin or such bad boaters it's so stupid well maybe that's why California made you get a boating license now to actually operate a boat here crazy well they they did yeah but on top of that why are the hardware why are all these hardware while it's not making waterproof waterproof wallets yes it's so stupid if if big winners are this bad at boating they should have waterproof with GPS trackers like floating yes yeah it floats and there it goes beep beep beep you can find it or learn how to boat better I just don't know if you want to comment the the peach he just got I like it elected are you gonna play us out Lauren sure let me tune us in here I'm leaving in one minute

1:58:23four two just got to find this oh here we go maybe it's this hang on wait wait wait okay places determine the value of money so when I was a young boy my father took me into the city to see a marching band he said someone you throw up would you read the savior of the broken the beaten and the damn he said will you defeat them central bankers

1:59:34the plans that they have made because one day I'll leave you a battle to orange shith what you messing up you Whatever sure quiet I'm not going to get out of here. I'm not going to get out of here. Shit coins. It's all up now, but big coin is on fire. It's a good point. You have to get out of here.

2:00:34Everything. Money. Big moves. Big boroughs. Big suits. Big big corn. Big poops. Big logos. Big moves. Big spots. Big checks. Big jets. Big flecks. Big steps. I can't remember being tapped. Just a bad deal. I'm not private. I'm not living anywhere. Somebody told me freedom started. He is my gentleman. For those among you who are evil fights, he suggests you turn away now. For those of you who seem to take it, they will come to the bad house. Money. Money. Money. Money. Money. Money.

2:01:34Money. Money. Money. Money. Money. Money. Money.