Bitcoin Tonight 041 - Bear Market Hello?

0:00There are endless Bitcoin podcasts. Most of them pretend they're always right. We don't. Bitcoin tonight live every Monday, 8.30 p.m. eastern time on Club Underground. No scripts, no influence or hierarchy, no mercy for bad ideas. Some takes land and some don't. Some sentences. Should have to stay in our heads. You'll hear all of it live with us. Humble warrior, sir Ulrich and Phil. Plus a chat that makes sure we know when we're wrong. If you're not here live, you're missing the point. And yes, you're missing the best part. Monday nights, 8.30 p.m. eastern time, Bitcoin tonight, next live, the replay, it's not going to hit the same. There's nothing for staring at us, so we arrived. Excuse me. Another corner.

1:00Lizzie. Oh, him? He is an OG Bitcoin or that one. Been stacking sats since before you were born. Lost more Bitcoin than you will ever earn. Fought in the first civil war. The real one. Sees Michael Sailor as new money. Still keeps his coin on the Linux box he first compiled Bitcoin from Source On. Round here, he is known as the Anon. There we go. Welcome back, Bitcoin tonight. Isn't that an awesome video that, what's his name? Mandelduck. I think it is that's making all of these vids. He's on a hot street right now. He's on a hot street. Yeah, he is. So are we, right? We're going to be doing a lot of things. We're going to be doing a lot of things. It's 86 five a little evening pump for the evening show.

2:01Why not? Would be nice to, you know, be really great. If during this live stream, we just so happen to break 87 four. That would be fun. I'd be happy. Patience, Pat, a one patient. Welcome. Welcome. You don't have to green background. The green background. I've, you know, I. I. I. I've decided that we're going to have. Another green participant in here. We're the green bull is back. The green bull is back. Everyone. Let's go. Let's go. New found highs during a, during a bear market. Now, wait, hold on. Are we still in a bear market, Phil? Have you finally given that one up? I think I saw something on the daily show. You may have finally given up that stance. You know what the problem is. Don't we be wrong? That's the problem, right? All it takes is like some black swan events. You know, but, but I'm like, I'm feeling good. Yes. Definitely like I'm definitely feeling good.

3:02Like a. This is a look we're we're at a, we're at a completely different level that we've been in. Previous cycles at the same time in the cycle. So. I don't know. Look, here's. Maybe look, maybe we get a Santa Claus rally too, right? Maybe we actually get that. I missed that. I remember having that and it was so fun. It made that time a year right? Makes Christmas new years. It's like, it's awesome. You know, your family sitting there. They're not holding, you know, they're not holding Bitcoin or stacking, but you are. So you're like, it's fantastic. And they're just down. Bear bear markets over. We ain't talking about those Santa rally. But let's, let's talk about. I'm already there. I'm already there. I'm already there. Bitcoin tonight. Bear market. Hello. Bear market. They're not picking up anymore. Time traveling, Kramer and George, the minor, recognize those names. We're going to, we're going to talk to them a little bit. Communists don't like freedom money breaking news guys breaking news.

4:06Now, I said, Communists do not like freedom money. We're going to reiterate it twice during the show back to back to make sure you guys remember that. The magnet dying woman has captured Bitcoin everyone just so you know. Just when you thought Bitcoin was impervious, a pregnant dying woman is ruining it all for everyone. How to grow on YouTube. Steel, okay? How to grow on, how to grow on Twitter buzzwords. How to create tabloid content, delete your posts and then say nothing. You know, I'm going to meet a young actress named Tillie Norwood. She's a very special attribute she has. And I think you guys would appreciate it. Hashtag pause AI the next NPC shadow campaign. And the nationalized AI companies or AI companies are nationalized and we're going to discuss that particular conspiracy. Phil, we're at we have a full show again.

5:07What do you know excited? I'm excited. All right, all right. I'm to talk about the controversial stuff, especially what's killing Bitcoin. So let's let's start off with let's start off with again, the bear market. Hello and like, look, this is a post by Alistair Milne a long time Bitcoin holder. And he's just basically summarizing, which was on September 18. This is four days ago. We experience even more pumpage. And so it's like to recap the fed raise interest rates. Bearish clarity act failed bearish, I guess Bitcoin didn't go below 75,000. I want to add to that by the way, oil was seen prices at $100 of barrel at one point. Phil, there's things that is so funny. It's so funny, you know, I've I get Corey Clipson's daily Bitcoiner email. And he's his daily Bitcoiner said something that I have been saying a lot, including on a space that I did.

6:13The last time I went on a space was when I was on a space with Corey Clipson. I said, you know, you're in a bull market when the traditionally bearish things pop up in the news and Bitcoin goes in the upward direction. And so what we're seeing here and he daily Bitcoiner said that, you know, they're still taking some, you know, some nuances from me at swan. I love you guys, but I still say this all the time. If you're in a bear market, you're going to see negative things kill you. You're going to see positive things keep you stable. But here you are. You see negative things happen and Bitcoin literally goes up. I'm sorry Phil. I'm not in a bear market anymore. And we haven't been in my opinion since the came through in about around late July. I like that. I like that. Sorry, keep looking up at the price to see if we're going to break this this level. It's going to happen in like the next couple.

7:13Look, it's either going to happen or we're going to fade it in the next couple of candles. You called it. You called it, by the way. I appreciate that. Look, broken clock. But look, the reality is, yeah, I'm always I'll never I never take. I never take credit properly just because I know that like as good as I can guess correctly, I can guess terribly. That's a good that's a good. That's a good. That's a good framing to have because a lot of people think that they're just always right. And by the way, a lot of people think that their heroes are just always right. And it's leads to wreckage. Swear I was paying attention. But going back to that post, okay, from Alistair Milley, right? And essentially what we're seeing is is that we're at that stage where the wheels are just falling off. So now it doesn't it to me, it's almost like a bigger picture than Bitcoin, right? Like to me, this is like, it's not about necessarily Bitcoins out of the bear market. It's that we've gotten to the point in this macro cycle where they've got nothing else, right?

8:20Like think about it. Rates are going through the roof. Treasury yields are going through the roof. At the same time, they're also buying back. Treasuries at an accelerated rate. But they've also got to create significantly more money. And the deficit is going absolutely nowhere except up. So. Like the jig is up. You know, I mean, obviously it's not. And we can continue to kick this can down the road a whole lot longer. But the point is, is that yeah, you know, like hard assets are going up, right? And Bitcoin having the most superior qualities of all of those assets. Yeah, I think it's look guys, you know, I hate to be that dude, but it's happening like we're still early. It's like we actually are still early because look at the ridiculous stuff that's happening, right? With self custody, right? Like the cold card hack, all of the like sorry to say it, but in the at the end of the day, right? Like maybe it shouldn't have been a mom and pop operation that, you know,

9:22was securing people's Bitcoin. And the reason why I say that is because it's like you got to think of it as where are we in the stage of the industries growing around Bitcoin, but churring. Where are we? And we're still at the mom and pop phase. Hey Phil, I want to I want to chime in on something you said that you talked about how, you know, things are falling apart. And of course, they're going to fall apart into hard assets, gold, yeah, coin, silver, whatever precious metal you want to hold on to platinum copper, go. Pokemon cards. Yeah, go anything that has a semblance of scarcity and a pretty decent network effect, those things are going to, those things are going to pump up. But you say, I feel like we're at the end of the road. I don't think you said that specific phrase, but we are we. The at the end of the road moments come and go and it's almost like a it's almost like a trimmer like it's almost like it's almost like a trimmer like a heart palpitations, something where it's like it's showing

10:35weakness. However, that doesn't mean that the heart doesn't stop. You know, and so I feel like what we experienced recently were Bitcoin pumped $14,000 in one week, the largest, the largest market cap gain. And the history of Bitcoin happened what I think in mid August sometime that kind of instance. And that was because of, you know, that was because of what the treasury said that they were going to do with their with their tea bills, they were going to buy buy them back essentially this type of episode is isn't is a what do you call it an indicator that the show is up that doesn't mean that it doesn't mean that the curtain is fully dropped. It's just we are seeing the endgame it could be stretched out for 50 years, 10 years, some time in between a hundred years. But that endgame gives one more tick to hard money with Bitcoin leaving the charge. Yeah, I can't I can't disagree with that right the signs are all around us and anybody who's, you know, studied a little bit of history knows that every single

11:45empire from the moment that it the moment it begins to build it it essentially starts to go through its life cycle to death. And we are at that stage, unfortunately, now where we are in that part of the life cycle, I know people are talking about forth turning vibes. Sure. However, the pushback that I have for that is how long does that take what does that mean, right? Like there's no real line in the sand nobody's going to tell you there's a before and after, but there will be a before and after and you'll only know on the other side. Yeah, exactly. You only know on the other side. So so for me, it's like, okay, well, if we're saying that there's forth turning vibes because of like, okay, you know, people don't want to work anymore. You know, the money's worthless times are hard all that stuff. Well, guess what? It sounds just like the 1920s and believe it or not what's really scary is that it even sounds like older times even even going back to like the 1800s.

12:45It's really interesting because obviously human behavior isn't changing right are incentives haven't actively changed. So why would any of these, the only thing that's evolved, I guess you could, you could argue the stories and the characters are really interesting. And the characters, right? And the like, you know, the actual activities that people are doing that that's what has changed. But at the end of the day, it's all just, you know, power, sex and money games. With different with different skins. That's right. I want to show you, I want to show you some some failures on this, this phase. I swear, you know, when a company like like coin shares says, I want coins unlikely to break 80 K as I ran war keeps inflation high freezing liquidity. You know, damn, I understand that they would look at those traditional time frames and traditional events. I'm sorry, traditional events and say, you know what, this is going to suppress interest in Bitcoin. However, I keep reiterating this.

13:55I will go to spaces. I will say it here. I'll say it on the street corner. Bitcoin is on its own calendar and its calendar is not based on what month it is that it's not based on the Gregorian calendar. It's not based on economic cycles, maybe a little correlation, but it's not based on that. It's based on how close we are to the next having and how close, how far we are from the last having that's it. Everything else is tiny little economic forces that sometimes are more impactful than another. And so what I have issue with this coin shares company that they aren't saying, you know what? The bear market has been going on for about since the top mid October, we're in mid September. That's 11 months bear markets for Bitcoin only last 12 months give or take a month. And so coming out with this type of information, you know, it's like

15:02they should be really be saying bear market time is over for Bitcoin generally. We're going to be going back to up into the right. I find it that's like if they don't have that mindset. And I understand this time could be different. Whatever that means. Michael Salis is cycles broken a lot a lot of people call BS on that. I'm the person that says cycle has never been broken. And by the time it is, we'll be looking at on the other side. I just feel like these people kind of show their they show their cards. They show what they're real incentives are they show what really is driving them. They're not a Bitcoin company because they're not using Bitcoin as their unit of time, if you will. Yeah, that's some that's some serious engagement slop. And I just want to point out that that same day we we pumped. So like it's like how they just waited. Yeah, how they just waited. They could have put out a totally different post. Maybe maybe if they would have you know what, maybe if they would have been a little more bullish.

16:05They they could have been winners in all of this, but I forget you know it's there's so many companies that come and go. I don't remember who coin shares is and I don't want to confuse all knows that there's seven billion. I've heard them before. I think they were making. I think they were making some sort of a fine investment vehicles for for building the future of investing. Okay. Yeah. So here we go leading European asset manager specializing in digital assets. Okay. So apparently not. Apparently they are not specializing in digital assets because if they are they would have been telling you that just hire me. Yeah. Which is funny. What are they making that call? Man, it's like it's so stupid. Point share. You guys are dumb. Like you guys are absolutely dumb. So who? Where are you getting your information from and how am I with my information telling like I call the top of the top of the top of the bull market off by one month. I said we were done with the bear market in the middle of July.

17:10I'm just trying to figure out what are these guys looking at and what am I looking at this different that's causing this clear differentiation with with predictions and and projections. I just feel like these people are fiat brains and they wear it's like a wolf and sheep's clothing they wear the Bitcoin. You know, or they they orange wash themselves so they can buy so they can get people like our audience to go buy into their products and they're just using them. They're just using that the fervor they're using the religious fervor to get to get a to make a dollar out of 15 cents and it's a. I think it's I think it's kind of sick but it's up to us making this content and the people watching this content to say you you have the right. You have the capability to call BS on companies like this but you have to have the courage to because if you just sit back on the way so it's like oh they're net positive all they're going to do is wreck you and your buddies sometime in the near future.

18:16Yeah, no it's very well said. And I just wanted to show everybody the actual chart of like like like look that is the 18th you could see the 18th down here amazing right like that like so they made that post and not. Call in the bottom coin share yeah like we're I mean how insane is that like talk about wreck reverse reverse coin share reverse share was a call. There's a special former portfolio yeah it's so funny digital assets apparently corny absolutely corny I want to talk about the first yeah bear market comparisons by rational route let's see if I can zoom in can I just click on this there we go I can zoom in a little bit. That's as big as we're going to get you're using this one I was going to use this one too yeah no no when are you going to use it to my mind. I'm already you know what the thing is that I get so many hope you links I put them all together I don't have to use any all of them so this one just kind of I didn't buy the way side yeah every time I get a chart use oh yeah I talked about this three days ago.

19:25Yeah I was going to do it and I'm like you know what I there was another one I was like now the other one was was better. But anyway so I'm with this but days since all time high which is still good one though which is pretty good and we start and you guys can't see that because it's like it's just not going to get big pause but so what is this this is all the bottoms lined up every four years okay 14 2018 2022 look. Look at how much more look at just look at where we are now and this is something I actually pointed out also on somebody else use the portion of this chart for their chart and did something look in 2026 look at how the move was a complete reversal reverse reverse bar if you will like complete reverse bar yeah okay and and if you look at the previous cycles we don't do them as aggressively so 2022 looked a little bit like that it's kind of. But not enough look at how much deeper look at how much deeper it is 2026 came back hard man yeah like we came back hard it's it's pretty interesting I'm I'm like I'm not saying this time it's different and you know we're doing the $10 million and fucking super cycle I'm not going there but I am saying that that like Bitcoin has matured and we're seeing that we're it's reflecting in obviously that we didn't crash and die 80% but

20:53look at where we're sitting I mean this is 2026 and we're sitting at 86k now think about this though now because all of those are juxtaposed to their previous all time highs the previous all time high to 2026 you know our 2025 all time high was what we would be the the epitome of muted so it looks very good against a very weak all time high and so you do have to consider that that said I think we are getting to the point where we're getting into a massive consolidation of we can't just keep on getting lower and lower you know all time highs you know four year cycle all time highs at some point it will converge the bear the bear bottom and the and the bowl top is going to converge and we have to go either up and to new boundaries or down to new boundaries and so as a matter of what happens then but I'm all for that consolidation but that right now I think we see that squeezing that squeezing of you know how close the bottom is to the top we've never been that close before which is good always good to have higher lows but what happens when when the lows and the in the highs it's so close it something has to give you know I mean yeah you know exactly

22:21with so what that is forming or something well so what that is right is usually it's it's compression right and compression usually indicates that a base is being formed and usually we end up seeing that with ball and demands right depending on the time horizon but like I've talked about this before and in in stocks anyways traditionally when you see that type of a compression you always get a massive move and the percentage is you know it could be like 20% could be 22% 25 who knows what but like it'll usually it'll it's pretty big and it's going to move either up or down like anybody that tells you they know for sure that it's going to go in one direction over the other like they're they're totally lying to you because I it really is unpredictable you know I need 16 years of this now for this one it looks like 16 years of compression and it's just kind of fascinating and I'm just so interested to see what's next oh yeah it will be crazy it's going to move it's going to move that's that's what we can predict it's going to move it's going to move as current systems behave more

23:40rationally bitcoins reaction becomes more rational yeah some of us yes some people become more tired and then fork their forks and stuff like that anyways let's let's show this video with with Kramer and do we have let's okay this one's going to be about Kramer it's very interesting it's a it's a full it's a three minute video I kind of want to play the whole show we play the whole thing I mean look it's it's really up to you you know like it guys do guys want to watch the whole thing or not let's set the premise okay let's let's let's give a let's do the first let's do the first 30 seconds and then fast forward to the real meat I think it will be interesting all right let's see play who are you I'm you from the future I age well you do all right listen to me this changes everything what is it artificial intelligence artificial intelligence trust me and Kramer yeah in 2006 if

24:48somebody heckles you let it go okay I think that was a good part yeah that was a good part for the for the intro oh it ruined it's career Kramer from the future says here's artificial intelligence gives him like this apple apple a computer and so he kind of I'm for the sake of speeding through he goes through this it let's go let's show him in a and Jerry talking ask me anything hmm write me a novel it's writing a novel make me a video game Florida steal any car go anywhere put an alligator in a pool oh that's good all right we got we got a grand theft auto reference there let's move on to the final 45 set to the final this section right here this is pretty good okay so Kramer has been you has been abusing this AI he's

25:51getting big time and then this is what happens I need this fix by tonight is this some kind of computer I guess so I've never seen anything like this is it Japanese I don't know can you fix it sorry I could trade you for a vcr a vcr and what am I gonna do you take x deduct why find the average and then you're round up round up what the answer that doesn't make any sense you're getting hung up on the details so confused right Cosmo Kramer faces plagiarism allegations with experts questioning whether his celebrated work was ever his own how you taking it they're calling me a broad Jerry you know what I could write a book how I fooled the greatest minds in the world who's gonna write it all right that was so if you

26:58yeah I did give you guys the cliff notes version of that if you didn't catch it obviously Kramer was abusing AI used AI to create to solve math problems he never could solve by himself nor could anyone else solve the AI just solved it and he became a world renowned mathematician scientist and then of course you saw the rest I got to tell you those videos are interesting now to the Seinfeld expert was this a good skit Phil okay so look in terms of I've seen better Kramer AI we've seen better Kramer AI from that I don't know why it did this weird AI hallucination of Kramer that made him look like Adam Sandlerish or something but it was yeah thank you thank you see Bitcoin capital is just like now Phil don't don't be Canadian about it it was yeah it's not like it was just like it's you know he's done better work the AI the AI's done better work I'm not hating on anyone

28:01this week I got all my hate out I'm good hey so but it's we're all richer today man so I'm just that's right today the runway is extended we're good we're good but yeah I but look I in regardless of the quality of that video so yeah just in terms of Seinfeld that was like not very good Seinfeld it was just like they added in the typical components so you have the music and everything the laugh track but it just did like yeah the the jokes didn't work but the overarching right the overarching message that was good right like that that made sense you you can already see it you can already see it happening right okay knowledge hotdoll is saying yeah yeah that's right telling you man so you know it's like these AI guys they want to make AI shit J.W. was saying you need fast forward about 10 years in order to be to be fun he's saying that office is office kill sign belt so hold on a second I just so obviously I am gonna take

29:02issue with this no you know I don't want you to dox your age obviously okay but I just I want to explain this Seinfeld once once you become cynical enough Seinfeld becomes much funny okay like I may I'm very cynical at a very young age but Seinfeld is by far I'm not gonna say it's funnier than the office because I love the office like you can't like for me I could watch those two all day like you just picked but in between those two it's really tough but in terms of like actually capturing the essence of like the the shallowness and the pettiness of a human being Seinfeld is a hundred percent captures that like you get like it is such good insight into how funny selfish insecure stupid people can be whereas the office it's just next level stupidity

30:10I will say this that that there is a general there is a generational dynamic to that I think there sometimes I think Seinfeld both both shows are very a cross generational but I find that I remember I was in college when the office came out and that was and me and J. W. are similar age so it's makes sense that he would defer he would prefer the office I think that over time if you want to look back and say what was the I love Lucy of a certain you know era I would say Seinfeld probably etches it out but it's not to say that the office isn't right up there with I I don't know on all in the family you know comparison like Lucy Lucy is time Lucy you know stood stood to test the time for a gender for decades all in the family as well the Jefferson's I but it's like it's it just kind of depends on how young were you or how old were you when that show was was coming out and I think that you were in your formative years when it came out I was a little too

31:14young to watch Seinfeld in and of it's time and in in that time frame same thing with J. W. but we have more Seinfeld so let's hold off let's hold off on too much judgment we're going to pop up this episode let's see here we go talk about Larry David after though yeah and George George is a minor and by the way so caveat it looks like this is inspired by a true story a big coin boxes actual true story as a Bitcoin minor so let's let's tune in let's make sure it's all the way up here we go George what is that thing it sounds like an airplane is taking you off of my kitchen it's like 90 degrees in here Bitcoin minor that's the sound of money Jerry it runs a little warm are you growing tomatoes in my apartment waste heat Jerry waste heat I just saw the electricity bill $800 you're ignoring the Bitcoin how much Bitcoin $50 50 that was a difficult the adjustment $800 to make 50

32:20the heat will help offset the heating bill oh my god so how's the mining going it's over I broke the miner trying to overclock it what's with all the money the guys at the meet up love my tomatoes I just call them tomato of satoshi I can charge twice the price I've got plans Jerry bill satoshi beef jerky of satoshi oh my god George is mining Bitcoin and you're mining the Bitcoin oh oh man oh that was so that was so deep that I gotta say I gotta say that was pretty deep right there he's mining the Bitcoin you're mining the Bitcoiners when I look at all the different got any of satoshi's I mean we got and we there are there are main there are high fashion satoshi brands where they're selling shirts t-shirts for $800 they're selling jackets for $3,000 and it says satoshi on it and it's like come on bro

33:28like doesn't even have anything to do with Bitcoin by the way that's right they're not even like it's yeah they're just like real Bitcoin is just like they're just like indirect yeah yeah so crazy it sounds Japanese so it may sound like oh high fashion from Tokyo it's like dude it's not that's not mo we're not getting towards hyperbicticoyization because you're stealing the name of something it's it's a it's a form of fraud fraudulence and you can see all the basketball players the athletes the the famous people that are wearing this satoshi thing and like how many of their fans went to go buy Bitcoin because you saw that guy with the satoshi shirt no they're going to go buy the satoshi shirt that's all they're going buy they're not buying corn because you know Darius Garland is wearing Darius Garland from the Clippers now is wearing a satoshi shirt it's really it's kind of funny but yeah people are out there mining Bitcoin is on a regular basis that's right that's right all right okay we got a couple of comments here before we move to the next thing Kramer does

34:29resemble Ben Stiller that's right I said Adam Sandler but like yeah I think that's more accurate that one was better by the way in terms of like a in terms of like sign felt like in terms of the the the tone right the tonality of the way sign felt works that that was a lot better and I just want to go back to works comment here about Larry David all the way so I mean like for the you know for the people who don't know the lore right George Costanza is essentially Larry David okay right that's that's where that character comes from but Larry David also created sign felt you know so and he also the show sign felt but he also created if you ever saw curb your enthusiasm and curbs your enthusiasm is essentially like the real life life of George right and and like it's that is just you you come you understand and he's actually playing himself yeah like you you understand how those storylines came up there's no like yeah there's there's

35:31definitely and and it's so funny because you know oftentimes you'll find you might find yourself in like a stupid situation where you're you're thinking this absolutely ridiculous petty thoughts about the whole thing and there's a good possibility that it's an episode on curb your enthusiasm I was promised Bitcoin would be one million by 2025 Larry Scotty Boy and the FIC said no bueno where's my refund soon that's it that's all we could say um let's let's continue on uh let me make sure I have my sharing screen right let's see so Jen just the check is in the mail he's talking about the the five-out yeah yeah yeah no or is he talking about oh no wait he's talking about the five thousand dollar check from or is he talking about that about this oh yeah no of course where's my refund check there's so many promises guys there's promises all around presidents making promises the influencers are making promises and the

36:32and the progressive Bitcoiner nonprofit promised that also promise that guess what Bitcoin is for is for uh progressives I guess but if it was I guess the progressive Bitcoiner nonprofit company wouldn't have to fold especially on the on the umminence of a bull run so it's just you know when you see these Bitcoin treasury companies folding right as we're about to tilt up you see a company a company a nonprofit entity folding right here Ben Justman made made light of it it turns out communist don't like freedom money I'm not gonna say all progresses are are flat out communists but uh that would be the the side that they have fall down the slope if they were to fall off if they were to um fall on to a a political mountain if you will with side do you roll down and so look like this chapter comes to the close progressive Bitcoin I they weren't in my algorithm generally speaking they got a significant following but you know Phil if anything what regardless

37:36of the regardless of the the political virtue signaling of these nonprofit organizations I just feel that Bitcoin nonprofit organizations have a tough time staying relevant now I do know that there's the Zach uh Zach uh what's the name he has the Bitcoin uh to help me out what's the name one of the Bitcoin policy institute Bitcoin policy institute is one that stayed good doing pretty well very fairly relevant uh um but it's like everyone's there's only so many there's only so much room for these nonprofit organizations how many companies can just can just get just collect you know donations as a business model like our business models to collect donations from you I just feel like it's very similar to you know it's just not creating value you know and Bitcoin is about you know getting back to the root cause of economic activity which is value for value it's just not surprising

38:42especially a company that would lean towards you know left wing policies that generally are about taxation and uh socializing of uh of value creation uh that's my spill I'm trying not to be too mean but it's not it's not surprising so is this the organization that uh what's sort of name Margo Payez oh my god isn't that her and there's this other guy the progressive Bitcoiner I don't know if so yeah be for bacon what's happening my dude uh progressive Bitcoiner was that even mean it's so funny that you say that because I said the exact same thing so remember when I uh once upon a time when I was doing simply Bitcoin one of our guests was uh like one of the dudes that was like part of this like progressive Bitcoin thing and I'm like I don't fucking get it I like uh look at this the website the website uh they're they're profile literally says support tvb progressive bitcoiner.com slash donate their chief aim is to collect donations yeah because they don't do

39:46anything else they just collect I mean is that not is that not literally breaking news. Thank you for running. Ben says breaking news uh turns out communist don't like freedom money. Hey we're gonna collect money for you know for Bitcoin the communists are saying get lost dude you're weird. They should have figured that out so at some point guess what the free market will will speak and I think I even had a comment down here oh I think I did turns out communist don't like freedom money. Oh I said something that's right I rarely talk online here you guys. The round peg square hole organization their target audience was missing something and they had a blind spot for their target audience why because they're also progresses maybe if you're making a progressive nonprofit you're probably a socialist or a communist but by all means let the wheels spin until they grow tired that's how lessons are learned. Now someone someone else even said something else down here oh man I forgot where it was but you

40:49know a lot of comments on this one uh I didn't so somewhat there's some there's some troll that was out there that was that was you know a bot that responded in some like these mega people blah blah blah this is not all mega and everyone else you know it's like we I think what we oh I'm sorry like what am I sharing here oh this is Tim Bees post Tim Bees in my Tim Bees in my algorithm let's freaking go Tim Bees in my algorithm so uh but anyways I lost my spot now let me go back here we go crypto there you go so let so I guess in a nutshell like these people are they they have they have a single track mind which is they participate in the economy by collecting donations and I just feel like if most people had a single track mind of how do I actually create value for myself and others we'd be in a better place but again those people go into politics those people go into nonprofit organizations it's a detriment you it's no wonder why we have all this inflation

41:54someone has to cover the bill for all the people that are saying I'm working and all I'm doing is funneling money from one person from one group to another and oh by the way every time I funnel money I have to pull some out so I can eat it's not a value creation no it definitely isn't and I just get I just get confused I just get I get very confused by the idea of using the state to repossess wealth from individuals but also at the same time be an advocate of self-soverity and Bitcoin I was never able to make that workout but in fairness right and I could see like now this is you know this was a blind spot that I had created for myself I was like oh they are margo I said yeah there you go I said it to myself I was like oh they figured it out it's okay I didn't even bother thinking about it I'm like that's okay if they're you know if they're happy yeah dude I it's so funny you say that I was just looking I was just looking

42:56were it like 86 seven and a half well you know why it's because the play but underground is on where's it because the play of underground is on we're in a bull market oh I came into the straight face the community empowerment social justice for an equity education inclusion environmental social progressive engagement privacy is a human right you know all these I recognize a few of these names and by the way the the the T Rocco I think he responded to bin I don't know what he said but I saw him in the replies for bin but yeah generally the the left wing or left leaning bit coiners that are that are all about green days and forcing forcing people to use solar energy man I mean for what is they do but what did they what did they actually besides donations like I'm looking at this like education about what an inclusion about what making Bitcoin education

43:57accessible all I guess some people environmental students outlawed to read about to read the Bitcoin standard or something you know it's got a corny I admit the 501c3 if it looks like can we make ourselves a non-profit and maybe people just give us money if it's any consolations you we technically are a non-profit we should get a laugh track like Seinfeld and then we can laugh at us and maybe give us money I don't I don't know here's another so here's another way I think this isn't interesting as well remember some people disappear during the bull markets I mean I'm during the bear markets and then they reappear this is this one caught by eye quite a bit Dennis Porter he's back he's been tweaking like literally as

44:58soon as I called the bottom per se or with we hit that 58k and bounced off I promise you he's just started he just started tweeting once it's start once it hit like like it jumped off a 58k went to like 68k and all of a sudden Dennis Porter started tweeting again and he was like really weird like bullish tweets I'm like it's just wrong like everything he's saying is wrong it's almost like it was rushed like he's like I have to hurry up and get my algorithm going to go after hurry up and get my my my my engagement back and now he's like who is this guy forget this guy's name Schumer is that his name Pat Schumer or something who's the main Democrat I don't know Schumer Chuck Schumer Chuck Schumer there you go it's like I just don't understand that I ran as someone who's feeling extra confident the Dems will take the house in Senate in November but Dennis you're like what's your what's your you know I when I do my basketball YouTube stuff I kind of make it separate you wouldn't know that I'm a basketball like YouTube guy on my primary Twitter or even on this show

46:04unless I just drop things like this what I'm saying is like Dennis Porter like what does this have to do with your Bitcoin bullishness or are you just showing us that you're a bleeding heart political shill and by the and on top of that oh I'm sorry a bleeding heart liberal political shill I'm sorry again it just feels like he's not reading the room but again I don't think Chuck Schumer gives a shit about Bitcoin but keep doing it Dennis by all means just keep doing what you're doing I'm sure the free market will will work itself out now there you go Rorke said like who do I have to yell at today that I'm yelling at Dennis Porter and the progressive Bitcoiners come at me bro I'm in LA right in the heart of your right in the heart of your market guys you guys have all the back and you need come at me tell me how much you hate my my world views and everything I'm ready for it I'm sorry sorry but not sorry um anyways that was a little tangential that was a little tangential

47:08feel any comments yeah I mean look I got to learn something that you know it appears that Dennis Porter is a fair weather bit-cointer and that's okay that's totally fine you get to learn something new every day but that's pretty much what that tells me because he he totally disappeared during like the worst part of this market and magically reappears as Bitcoin you know seems to be coming back and Nate's point though right about him getting ripped into in spaces oh no what I heard about it a couple of times and it's it's good stuff you know like just to a certain extent you know like that there's a kind of sits on a bit of a high horse for no apparent reason it's just like like dude it's like you're not the you're not that you're not the political dude you're not the political Bitcoin dude there's a whole bunch of other political and they're all doing shit so and and in fairness a few of these guys they don't help their own horns at all

48:09they just do the thing yeah they just do the thing so it's like instead of just going around and you know patting yourself on the back and letting everybody know that you're patting yourself on the back it's like why don't you just just do the thing okay now I will say that he has made himself a very clear niche in that he be he is like the Democrat Bitcoin political shield and like a lot of a lot of the Bitcoin political shields are obviously right wing leaning you know when when Trump when Trump's kids came around they yeah they were but I mean like if they're going to pick a guy that the yeah they're gonna get conservative yeah and it's like when when the Trump kids came around like all these people like you could see David Begley was on board with that Natalie Brunell is like in the pocket of or or or of what's her name Cynthia Lumbus like she basically made Natalie who she is with regards to you know going on her show whenever she needed so it's like Dennis is

49:10trying to make his bed with the Democrats I don't I don't discount that he's sticking to that gun but at the end of the day like the entire vibe of the politician is going to pump your bags we've seen it now at least for five years it ain't working you know when when the dip when everyone's ignoring Bitcoin as a as a medium of investment it wakes up and the and when the bull market was supposed to come with Trump and Lumbus they didn't do anything for you they made the worst but you can say that they are correlated to the worst bull market you've ever seen so you just have to wonder what happens when you pull all of it out of the equation you just get back to the anarcho capitalism the independent nature the the separate money from state dynamic that we used to talk about not anymore you know you may you may see that that surge back but you have to give it a shot

50:13and that means that you have to turn your back against the Natalie Brunell dynamic the the Dennis Porter dynamic and start being truly a political stop begging Trump for your support you don't need his support obviously he doesn't need yours either because he ignored the Bitcoiners so we can we can continue we have this we're gonna talk about the kind of a hallucinating nature that's a name I haven't heard in a long time long time no throwback to 2022 man yeah the hit no what for a while yeah at least at least from 2022 to like 2024 something like I guess I'm talking about when it first started yeah yeah no they had a good stint they had a good stint so look here's a stint that hasn't gone away yet a bit one tenors seem to keep on lashing out and finding ration at rationalizations for why their sub BSV protocol network coin failed failed faster

51:21than any I mean I'll tell you Bitcoin cash looks like it will save the world Bitcoin cash annization compared to what this Blake 2B coin is that's how bad it is but again we're talking about Justin Belch-Betchler choosing pretty much like a really really bad example of attacking I guess the the main chain Bitcoiners you have Carla Bitcoin part the better half of the crypto couple with Walker America and he said of Justin says profoundly disillusioning to witness big big Bitcoin that's what we are wrestle control of the protocol using women and weak emesculated men of course calling Walker the weak emesculated man waiting till you look in a mirror bro and then of course using women so it's basically hey this is what this was the tool this was the marketing tool from big Bitcoin by the way during this whole BIP one 10 thing Carla was going through

52:21troubled like very endangering pregnancies and illness is that almost cost her life half I used to see her dancing on stage on on Twitter and now I see her in a hospital bed so it's like that's the type of person you want to attack with regard like you could pick a better target bro pick a more pick a stronger target rather than a dying woman kind of a low bro low but holy crap it's a it's the tradition it's tradition for the BIP one 10ers it seems and this is a grown man oh this is Justin Beckler yeah there you go so anyways look it's in fairness right in fairness this guy has no shame right he had no problem immediately calling people pedals immediately lying about Bitcoin poor calling it malware and stuff like that so husband the husband replies right here it's kind of good good good for Walker and in fairness I mean that is just so absolutely cheap I mean that that is just disgraceful I

53:22hey look you know I get it right around the internet we all say all kinds of stupid things you know mean things and whatnot but like in fairness like she was you know she's literally having complications nearly nearly passing away you you really believe that this was done for engagement in order to stop the progression of your stupid shit coin like this is how delusional I you know what I've been refraining from saying this as much as possible because I know it's like like I'm not a therapist but these are like deeply emotionally immature people borderline like like like like extremely narcissistic traits possible traits of like sociopathy like this is this is fucking weird okay like the types of things that I've seen come out and I'm not saying I'm it's not every single person that supports that that fork okay like I'm trying to I'm just being specific to the people who had to generalize sometimes yeah these are the big that's who that's the big leader right yeah exactly right

54:26these are the real like you know this guy's this guy's you know drilling out AI slop you know almost weekly for his articles yeah his articles were literally the epitome of click button the st. Cramer did in that video did it's funny it's funny it's so it's funny that we're talking about this so he put out this dog shit article about about how Iran is freezing Bitcoin and something like Iran and the US government are working together to capture Bitcoin and it's like dude do you even like do you even look through the news do you even actually read like the only thing that the government's froze was tether they haven't been able to stop Bitcoin why do you lie like and and it's so sad because so many people don't do their own due diligence they follow they follow these accounts they think that people like this are like the knowers of things because they speak with conviction okay the like think of you right what what word is in conviction right what word is in confidence right con all just that's what it is like that's what these guys are this guys are

55:35giant con man I've been here for years I never saw him before all of a sudden all of a sudden out of the blue him and the rest of these BIP 110 slappers come out and immediately they start with these nonsense these ridiculous narratives about Bitcoin being a spam chain and stuff like that your shit forecast spam on it already you've already failed you've already had to shit fork I think they're up to four forks so you keep saving Bitcoin you've saved Bitcoin four times already in a month like it's just embarrassing like you're supposed to be a grown man and you're gonna sit there and tell your family that you're storing their value for the future what a it's it goes it goes back to that meme like daddy why are we rich why are you rich big and then right and then in the kid on the floor says because daddy had to had to go compost that he had to capture Bitcoin and you know convert to Blake 2b it's like yeah it's very it's very sad yeah oh but I guess that's

56:35why no one will remember their name out I gotta tell you you know sick I don't know when BSV was created but I'll tell you I don't know anyone who was in charge of moving that fork off of Bitcoin cash I don't know anyone besides Roger Ver who is in charge of moving that fork off of the main chain and so it's like it's just funny that these these people think that somehow I'm going to be the savior of the money of the world and there's it's clearly that there's a lot there's it's clear there's a lack of humility and a lot a lack of self-interspection and saying can I be full of myself and if I were to take a step back what would happen to Bitcoin what would happen to myself what would happen to the people that look up to me there are a lot of people that really really just pick the wrong side but again I do I stand by this argument I don't think any of

57:40those BIP 110ers ever really picked BIP 110 their way to they knew what the reality was the economic reality but they wanted to make a fairytale for themselves and it was a good bit because at the end of the day if they decided to hate we got one yeah hold on hold on there we go core fork though nice yeah really let me know how your shit fork goes bro for what we just kept going you guys forked off it's not a matter perspective it's a matter of you forking off of the Bitcoin network now that's a fake account man do you got don't even engage no I know that's so fine I'll put a you know you know darn well like that ain't the real like okay first of all let's look at this guy again like look at him he looks like a rapper I'm sorry there ain't no BIP 110ers that of that demographic the one the black bit corners they ain't messing with all with all that extra stuff okay

58:40they just want their money to work okay they're not jumping off of buildings they're not playing games black bit corners keep it simple okay they may go into they may go into if they're going to go into shit yeah I'm generalizing now come on come on for my James come on man I swear black bit pointers if they're going to if they're going to go off on other things they're going to go off on some ethereum fork but that or some ethereum chain but that's proven as well that's been there they ain't going to try no news oh we're gonna hey we're gonna go fork off of Bitcoin black people are gonna be like what what you're gonna do what you're gonna make something that ain't that's it's already working why are you messing with it so yeah ain't no that that guy I don't know what you mean it's they're saving Bitcoin what are you talking about it's not a chain Bitcoin Bitcoin image device it's so funny because you know the bcatures at one point also believed uh... immunitimized we are the real Bitcoin bsv also immunitimized we are the real Bitcoin and they also thought Bitcoin core was captured right but then they had the master card narrative and and

59:44launched it's a little bit different so everybody's got a little different spice for their bullshit but at the end of the day at the end of the day you just you forked off now you're stuck being a shit-coiner and it's a crazy crazy i hope you didn't sell his corn for whatever that that thing is uh... let's keep those guys don't have any corn if they did they wouldn't afford off shit-coin truth sorry i'm sorry it's just the truth so look Phil we're trying we're gonna try to work on uh... how to build our youtube brand and we're gonna take we're gonna take uh... some examples from this nine year old okay let's see if we can do this a father says that his nine year old son spent a hundred eighteen k and u.s dollars on youtube ad campaigns to promote his minecraft roblox channel gameplay in about three weeks all charged to the father's company card okay company credit card three weeks a hundred eighteen thousand dollars youtube channel now has fifty-four thousand one hundred subscribers Phil i got to say yeah the kid has a point

1:00:53he's nine years old he does maybe we should be learning from him maybe we should hire him for marketing he's nine years old he took the credit card the company credit card and say i'm gonna feed it to youtube and max that sucker out and he has almost he has fifty thousand subs in three weeks Phil what are we doing with our life we just not we know what we are not doing this rights this is the problem this is the this is the problem we're just not doing this rights okay that is wild uh i gotta say that was that was pretty good that that that that was funny so here's another here's another uh i appreciate that one that that was that that definitely wasn't a kick in the nuts so so hot hotl rato okay a long time big corner says good morning of course you gotta say good morning how to get ten k followers change

1:01:54all letters in month to make them sound bullish up vimber bull timber reply few what or based oh gosh i see i've been seeing an increase in based recently with an occasional it's just math or big if true and then post i love how he's felt bad and then post stake and nature voila you have follows Phil are you following any of these okay do you say gm i know you say gm i do say gm but you're not saying gm to only into the group chat that's right you need to say it publicly okay guys we need to make Phil say gm publicly or he's not he's going to limit the pleb underground uh and then of course you have to say like it's september right now so it's up timber Phil okay i don't for the rest of the week i don't want you i don't want to hear anything but up timber up timber okay up timber okay if you say if you say sept i promise you i'll just

1:02:57gonna flip tables or something okay and then reply few i've never seen i have seen you say few have you said few before oh yeah i always say yeah not enough i guess not not enough uh what that's kind of corny i won't make you say that uh now is that the number one what is that a playoff of uh is that a playoff of sandbankman freed when he at like do you remember that one is like number one what do you remember that yeah that was a good phase that that one gets that that one gets that one gets some engagement but look okay so the the reality is something that you end up learning very quickly yeah we appreciate you bangarang um and xbt even though whether you're a troll or not we we appreciate you being here and you're unfortunately you're never gonna hear me say anything good about it too is racial appropriations like use your real picture or cartoon character you

1:03:57are not black you are not black leave him alone he's just trying uh i'm kidding i'm trying to extend the olive branch okay i remember when i was a shit pointer but the thing is though when i when i would hear people like like me say stuff to me like that i'd be like you know what they probably know more than me i'm at least willing to give the benefit of the doubt maybe i'm going to go and do some more research before i open my mouth again kind of thing right because like when we came into the space there was so few right like there was like it was a different landscape right it was different landscape there was a lot more um signal a lot less noise you know so yeah anyways going back though going yeah well let's let's keep going i mean do you do do you say uh i want to talk about this yeah do you say it's just math okay i mean i i never say it's just math because i'm not much of a math dude uh so that that's really not one of my lines for sure um the big

1:04:59if true uh that was huge back in like um i'd say 2019 to like 2021 um the changing the letters in the month always works right but look the sad thing that people realize so look this is what happens okay you're gonna have people who and this is how you could tell the type of account you're dealing with okay so a real person who let's say has a strong interest like you know like you were i do in bitcoin usually what you'll see is some some bitcoin related posts write some trolley and you'll see some bs right stuff like that around bitcoins some memes but then you'll also see some personal stuff that is just totally off quote unquote brand and it'll just be very personal and it probably won't get very much engagement now those kinds of accounts right you'll grow to whatever level you'll grow to but you'll never get to the like the half a million and the million and stuff like that you'll notice that the accounts that get there are the curated ones okay those are the ones that

1:06:04post the type of slop that hot allarado is talking about okay like he's talking about how to get to 10k followers it's not just how to get to 10k followers okay um if you just simply curate and always put out the exact same slop on repeat with slightly different angles on it you'll have no problem growing in account like it's it's just right and that's how you can tell because those accounts that are there specifically for engagement they will never first of all they'll never reply and if they sorry I shouldn't say they never they will rarely reply and if they do to hotlarados point it's going to be very simple stuff yeah there you go when line but you know that's very crypto that's very crypto yeah that was because they're thinking yeah if you you know you got your dode's coin pumping that one time dode's coin pump so now you get your Lambo um that's so funny win Lambo I remember I did that was like very cool when I first got like it was dying off when I first got on the Twitter like that was 2021 kind of thing yeah but yeah no no you're absolutely right um but

1:07:10what about what about staking nature feel like yeah so this is where I think again we go to the engagement right because it's on brand it's part of the theme right like so and again it's kind of interesting because how does it get accepted it it only gets accepted when it becomes common knowledge that other people who are into bitcoin also are into those things right so for example if you show up and are all of a sudden like I'm buying seaweed algae pills because that's really good for protein absorption like nobody gives a shit until it becomes some type of common knowledge possibly somebody with a massive account also is into that tangential and rife style kind of thing yeah it's cross section it has to become the common knowledge exactly which you know for the most part it isn't but we have a few things that that are and we did go out for steak you and I and T.C. and that was fun I remember that hmm that's Nate yeah the uh yeah it's so funny how you there's

1:08:15like this formula for you just can't be you just can't put out you know good information and be recognized you know you have to do these this formulaic approach it's like it's like this one of us one of us but bitcoiners are supposed to be sovereign individuals and I think that's what that's what kind of tripped me up it's like I was more of the independent nature of bitcoin as money don't need a government and people don't need uh don't need collectivism but when I see the bitcoiners on social media the people that were driving popularity it was a form of collectivism it's just our collectivism and so people didn't really support individualism they they supported their their own brand of the collective and it's like you know the anti social social club that's a scam to me and so it's like yeah I'm not going to I almost said like okay the the

1:09:19red meat eating cult got you I see what you're doing there and you guys can have it it's not for me um it's weird but it's for the course the cute what do you say human you know it's not like the human formulas change anytime soon you know it's it's just human behavior yeah uh here's another here's another uh behavior that seems to be working for some people uh though Jason Lowry uh just wiped the board by the way replies gone post-gone timeline looks freshly swab flight deck secret squirrel mode there we go again again this isn't the first time that Jason Lowry has decided to play this cloaking dagger psych like siop kind of game on his followers forget you think that this is some sort now this guy this packs a turner thinks that this is some sort

1:10:21of grand scheme of how they know they know that Bitcoin is the answer to that that the what is it called that the software software Bitcoin uh strategy global strategy is the answer so he has to delete everything because he doesn't want everyone to know I'm sorry Jason Lowry has to has posted deleted posted and deleted like three fucking times three or four times every time he's not he's not invited to a Bitcoin conference event he's he throws it he throws a fit and he deletes his post every time that he says something stupid like or does something stupid like pull out a gun on a podcast uh he starts to delete his post the guy's not as grand grand skinny as you think and by the way I work with military people um he was major Lowry who the majors don't get to

1:11:25move anything with regards to policy with regards of the Air Force Space Force whatever he's an oh he was he was an oh four and about to be crowned in oh five I'll let you know something else lieutenant kernels they don't get to move policy or make or break the way the United States does business okay lieutenant kernels are just paper pushers Jason Lowry ain't making Bitcoin a part of the grand United States Bitcoin strategy at all okay he's just a lieutenant kernel uh what do they call they call a lieutenant kernel select okay that's all he is a lieutenant kernel select which is nothing when he gets to be a general let a brother know but until then maybe a high rank maybe a very important kernel he's a nobody and he'll continue to be nobody and all he'll be doing the only thing that he's a somebody too is his 158,000 followers that continue to slurp up his Bitcoin

1:12:30and think that somehow this is going to change everything ain't changing nothing I've said what I said it's kind of funny because if you were to go through and delete a bunch of your tweets nobody would give a shit if I was to go through and delete a bunch of my tweets nobody would give a shit anybody goes out and deletes a bunch of their tweet but if you have an account that's big enough you deleting your tweets now has this like this mystical connotation to with this behind the scenes invisible hand right Jason isn't just deleting tweets no oh what he's doing is he's positioning the pieces for the chessboard to be arranged for America to stay in power it's this whole grand scheme like at some point right at some point when you're coming up with that type of like when a person comes up with that type of delusional shit to make their own individual lives more important like like you got to realize this is false notions of

1:13:35grandeur like you got to realize like there's like a tiny little ego you inside that's screaming to be real important and that's why the story gets really interesting like this is funny yeah that's that's where the man now that would that would honestly be very real in terms of his impact on the grand scheme of the United States military like really like like do they honestly think you know the whole soft war thing right like the the power projection and um people really think that this is like some type of like breakthrough like human beings have been projecting power throughout history and all of a sudden this guy writes a book about the same shit humans have done since the beginning of time and now it's important because he said the word

1:14:37Bitcoin mm-hmm essentially that this is this is really like I I'm sorry but all I see is just infinite human stupidity I don't see anything else like it doesn't make it doesn't it doesn't sit there and make me think that like it's some breakthrough oh wow so you're telling me that the government would attempt to possibly try to use Bitcoin against its enemies who would ever suspect the government using insert whatever the hell against their enemy like really and we're supposed to like you're supposed to sit there and lap it up like he's he's some kind of you know some kind of genius some kind of fucking nowhere of things I like this one Jason Bitcoin projects power yeah exactly I have nook for that though so let's let's play this out right let's play it out okay so what does America what does America do it turns on their miners and then what does the other country do right Iran Iran's

1:15:41like sitting there he's like you know what I'm gonna turn on more miners okay so then they turn on more miners then all of a sudden America's like wait a second Iran's got too many miners going let's turn on more miners and then so steady ron goes gets their allies they turn on more miners like nobody cares nobody so not so and then and first of all that's not what happens but at some point you get to that critical that critical um what do you call that critical break even point where it's like okay if I turn on another miner I'm actually projecting anti power I'm actually I'm actually rejecting power instead of projecting power because you're losing you're paying for electricity that's net negative um it's just so it's so crazy I think that America would do this and somehow that Iran doesn't have the capability to do that or that Russia doesn't have the capability or the European Union Bitcoin if Bitcoin truly is stateless and open source how can you project Bitcoin onto that

1:16:46other person they're like well you're just making my Bitcoin more secure by turning on your miners thank you United States or thank you Iran it's that the mutual nature of Bitcoin you it's not going to be used as a weapon I'm sorry unless you want to fork off now here's the catch you fork Bitcoin it's like this is the new this is the real Bitcoin and now you start getting into okay you're going to get the Bitcoin that says that alienates another nation state from using it or are you going to use the Bitcoin as truly open source that is stateless that is trustless that's permissionless now you're shooting yourself in the foot so again the the the whole scam of somehow Bitcoin is owned by the United States is a is a pipe dream for status uh the extreme for all these people who want by the way want you know you know these these cool stories of a major or like low ranking uh I think it's company company grade officer that's going to save the world like this isn't rainbow six yeah

1:17:51this isn't rainbow six he's not a he's not a he's not a hero he's not like he's not like Ethan hunt for mission impossible it's just a dude that's a cog in a big old wheel and he is a nobody compared to compared to the actual big players so let's let's move on uh packs whatever your name is touch grass okay touch grass um but we're going to touch digital we're going to touch digital uh technology a little bit more indefinitely and a little weird okay we're going to show this video and I'm not going to well I'm going to introduce you to tilly okay tilly is essentially an AI actress and what makes this even weirder is that NBC decided that they wanted to interview her talk about clown world uh just jerking it itself off okay here we go why have you decided to do interviews well Chloe it's not every day you get to be a new kind of paintbrush is it I think it's important to

1:18:55talk about what I am how I work and hopefully make people a bit lighter than when they arrived if you were to compare yourself to a human actor out there who would you say you're most similar to well Chloe that's a tough one because I'm not really trying to be like any human actor though honestly if you're going to mistake me for someone there are worse options than say scull at your handsome okay yes like that that the interview gets weirder and I'm not going to for the sake of time I'm not going to show the whole thing you got yeah like Romans that I've been avoiding that interview I listened to it it is cringe asking her can't you what do you think about falling in love it was the most generic AI slap response that you could possibly find I'll say that um yeah it's very weird and it's funny you know NBC now I don't want to comment on this outright but remember NBC is a part of the mainstream media okay three letter three letter organization whatever and then you have this dynamic where you have pause AI because AI is getting

1:20:01too strong the world is waking up to extinction risk to the in the wake of Jacob Coxon's resignation I think he resigned from from call yes so now you have this great you know this is a very reminiscent of this George Soros kind of funded oh up you know like the like where are these signs come from you know like grass roots you know that these people they're sitting at home and they're wondering how can I be of use to humanity and they're like I I need to stand up to AI and I'm going to make these logos that this is all this is all not funded secretly by NGOs okay that that's the last thing you should think of okay that's so great to just try to take humanity Ulrich okay it's all they're doing NBC interviewing the AI actress and then all and then on the other side it's Hula AI pause AI Bernie Sanders is stopping us from is once a stop us from from advancing AI I'm like

1:21:05wait NBC do you have a comment on Bernie Sanders because why are you interviewing this person but at the same time you're also okay talk about playing both sides of the fence to confuse all the impeachment out there now I think that there may be something here and I want to play this one into the audience who's funding these people did you see who's funding these people this thing started up I went to did some research oh it was like yeah this is yeah this pause AI what is it started back in like 2023 I believe it is so apparently in 2023 they already knew they were going to have to pause AI okay so wow they knew it was going to have to happen very ready you know getting ready that grass roots movement you know thinking ahead anyways yeah but but there's a whole bunch of like some some big some big quote-unquote you know like humanitarian non-profit organizations

1:22:08hold on a second who funded pause AI all right I just don't remember anymore future of life institute oh yeah that's right that's right so this small little grass roots thing this is grass roots guys all right a future of life institute largest donor gave them 422 thousand pounds that's and that's the freaking banner they came up with Greg Colburn a major individual donor gave them over like it's like 116 thousand or like 110 thousand pounds coin jointly gave them 83 thousand pounds sir like a crypto scam what's into this one the survival and flourishing fund they also gave some grants oh I mean this is just look it's all just it's all just grass I was actually going to say this rork so you took the words right amount around my mouth all the same organizations that support climate change again thank you or support support

1:23:11against climate change if like if you are if you are trying to stop AI you're likely trying to trying to control the climate which means you're likely trying to tell people to stop using fossil fuels turn off your electricity which means you're essentially stopping the advancement of humanity which means you know essentially want people to die off you know go ahead it's worth it you know who funded who see who who who seeded the fund the future of life institute which is the one that gave this paus ai the most money sounds like future of death do tell Elon Musk it's everything is so we're gonna go we're gonna have to give another shout out to rod palmer right from from the bitcoin bugle because he's been pushing the k-fabe narrative so hard and I am gonna say it right now paus ai is k-fabe right and and it's and Elon is the k-fabe

1:24:14coordinator of paus ai okay look at that look at yeah see playa right remember those the posters you made us I have them like I pulled them out now because unfortunately I got to move a bunch of stuff but I have them I have the posters they're right here f Elon thank you okay sorry continue I want to show this video to see if there may be some sort of a wisdom that comes from haunteer CEO Alex carp very interesting video that or at least the the nuance of the video I haven't seen it fully yet so let's watch and organic reactions people who think the way we do that's why you can't work with the military that's why you can take the ip from businesses and put in your model that we that model would require severe liability protection and there's only one institution that can do that the u.s government and then that's before you get to the danger so what what's really happening is the investors loved when he was migrating all the value of everyone

1:25:15else's business to their business because they're investors they don't realize it's like it's like every mark they don't realize during the mark because now you first you migrate all the ip to your business and then because you need uncapped you need cap liability both visa v the business and visa v the dangers you've got to migrate the business to the government it has to be nationalized so it's actually happening it's this is reported as regulation non-regulation movement that's actually not what this movement is it's like the view that I believe they have is these businesses have to be nationalized because if you don't nationalize them every single one of my clients is going to sue that you think that's what I want well obviously if you have a business that presupposes unlimited risk both vis-a-vis liability risk vis-a-vis the clients because I don't think any of our clients realize their ip was migrating vis-a-vis the world because you're saying what is the liability risk for destroying 10 percent of the company and the numbers of the world it discounted into the present okay but there's only one institution and by the way that's not actually what's happening

1:26:19they want three institutions it's going to be like you're up candidate america we migrate all the ip of america from our businesses to this institution then the institution is going to get full liability protection because so a lot a lot of rambling but I did hear that that's out of part for the course yeah but I did hear they want the businesses to be nationalized now yeah when when a business is nationalized basically the business first of all that's fascism we're very similar to communist fascism it's feels like yeah and we do we do do do we don't know how to deal with the material complex and so we have this we have this desire for pause AI in order to pause businesses from advancing their own incentives there has to be a regulator come in if this regulation is very very regulated because it's actually you know

1:27:23partially owned or fully owned by the government could it be that this European movement is somehow trying to gain you know we see a lot of socialism over in europe do we see that type of a more so than here of course we're we like to follow european culture and everything business and business culture economics do we see that as like the in game or a potential in game that would be that would be in my opinion the dystopian output I feel like that these businesses should stay as private and as free as possible but I feel like what Alex is alluding to that not all people want that that outcome I'm gonna agree with Roman it yes like especially when you say five times right but but especially if you're if you're not speaking in French right like you're intentionally inserting

1:28:25this French in a window to you know to you know up up scale your your speech right so it's obvious right it's like an obvious puffery that is happening cheap upscale right it is it is a cheap upscale right it's like it's essentially like taking the Mercedes logo and sticking it on your Honda you know like you're just like no no it's it's you know it's like a Mercedes but anyways okay so look a couple of things number one I do agree that you know these businesses should be private number one number two I'm hearing the grumbling of too big to fail with these businesses right because of the banking system like the banking system right Janet Yellen yeah systemic systemic to there's starting to talk about the systemic risk right because of because of essentially the like the you know the hundreds of billions of dollars if not trillions of dollars at this point right that are essentially propping up the economy yes it is essentially propping up the economy and the

1:29:26other thing that you can't help but notice and I've talked about this in the past right then I'm not you know not that I have to explain this but like it's not come some expert in all of these AI companies but when you're looking through all of these different um all of these uh different contract wins between them you tend to notice that it's the same money sloshing around over and over again and that kind of starts to get a little bit weary like I I get it right it's obviously all quote unquote contained in the economy so yes to a certain extent it is all the same money sloshing around but what I'm saying is is that like so look for example you look at a business like Palantir right their customers aren't um like they're their customers it's not the same thing as Navidia with uh like cloud fl- not cloud flare with um what what are they called again not cloud weave

1:30:27what the hell are they called cloud strike no no weave something weave cloud weave clear weave I don't anyways look it doesn't make a difference but essentially what they do is is that they lease the GPUs from Navidia to do their product right so it like it's worth it for Navidia to sit there and invest in their business because their business is going to turn around and then give that money right back thank you core weave right yeah they're going to turn around and give that money right back to Navidia so it seems like this incestuous circle of money and it's not just them right the data center builders are there too because Navidia goes and promises a certain amount of money to the data center builders the data center builders get to put that on their balance sheet right as um uh as as um what's it called uh you know revenue that's coming in right they get to they get to post it as right as as contracts that they've gotten so or that they're going to get so they get

1:31:32to essentially claim it as an order book right so for example if you take a look at something like micron right now right which I know has nothing to do with the piece we're talking about with AI but when you look at micron that's what they all of a sudden this is what people misunderstood with micron is that all of a sudden their order book expanded by like decades they can't even fulfill all of the orders in their order book but none of that is real none of it it's just money that's promised at some point in the future and essentially when you take a look at what's happening with AI this is what we're seeing so the whole reason I'm explaining all of this crap is that there's a few tie it together there's a few businesses in AI that I do believe actually profit where they have businesses that have nothing to do with AI that are approaching them and purchasing their products or services and those businesses are sticky once they get into those the into those uh other businesses into their customers offices and whatnot it's very difficult to get them out okay and

1:32:39that the customer wants to use them because to them it is providing value so again just like we saw in previous cycles there are going to be many things that blow up there's going to be a few winners right like do I think that like you know evil palantir and Alex are going to be a winner unfortunately I do I do think they're going to be a winner and one of the reasons I think they're going to be a winner besides the fact that they're part of the military in the show complex okay and they've been spun out as a private company okay that's debatable but besides that it's because their customers aren't all in their own space not even close their customers range all over so they even have like a really good they even have in my eyes they have a pretty good moat for that so anyways I just see a lot there's going to be a lot of carnage that there's going to be a lot of these valuations are going to disappear overnight with these AI companies I do think that they should stay private I don't think that it should get nationalized I do not believe that the American

1:33:44people should any in any way shape or form be responsible for once again picking up the bill for a completely fucking broken system because you know like groups of elites decided that they were going to plunder it once again with this new unicorn okay like that's really unfortunately what we're seeing right it's just new narratives but it's the same old shit okay it's always the same old shit extracting as much as you can in as little amount of time as you can and if you can stick the public with that bill then all the better we're all on this together oh yeah that's right synergy right synergy I always like synergy I'm a big fan of that anyway speaking of synergy we're done that's it speaking of synergy we're done that's it we can just synergy we're done that's how we're going to tie that's how we're calling out for that one I think I'm going to take over the segues from now

1:34:48I know yeah well that's right I'm I'm so not a I'm the rip the band-aid off guy I'm like okay so I've got nothing else to say and we're done uh yeah so uh but yeah that's that's it guys thank you so much for joining us really appreciate it awesome chat fantastic laughs as always uh and as you guys know we're we're gonna be back next week does humble show up we don't know this week she's at the the Midwest Bitcoin Summit which kicks off tomorrow oh my gosh yes I'd buy that for a dollar I totally robo cop absolutely yeah yeah that is the robo cop guy yeah it is yeah it's anyways but yeah guys have a great rest of your evening I am back tomorrow 12 10 pm eastern for the news and like I said we're back next week 8 30 pm Bitcoin tonight's Tuesday let's freaking go thank you you guys