Wall Street INSIDER CONFIRMS Bitcoins BIGGEST BULL Run EVER Just Started!| EP 1590

0:00While everyone is focused on the Fed and the CPI print, Bitcoin is quietly setting itself up for what could be potentially the biggest bull run in history. And it's not just me bull posting here on simply Bitcoin and saying that it's BlackRock, Fidelity, JP Morgan, and even bitwise is now making some insane $1.3 million Bitcoin predictions. Guys, it seems like the bull posting is back. So, you know, LFG, let's go. We are going to bull post today before I get to the bull posting though. Let's watch this short clip of Matt Hogan from Bitwise explaining his case. They hire that. So our long term prediction is we get to 1.3 million by 2035. I think we have a good chance to get back up to 100K this year. I think the conditions are extremely bullish. Remember, we're just getting traditional Wall Street back in their seats after their

1:01August break. I think as they come into their seats and they look at this macro setting, they look at crypto forming a nice bottom. They're going to want to start allocating. So I'm bullish on the short term. I'm very bullish on the long term. I think 1.3 million by 2035. It's going to be relatively easy. Let's go. And I am here with our boy, Kent Halliburton, C. Elko founder of SADS Mining. So guys, I know it might be early. I know I know we might be taking a victory lap. It's slightly ahead of schedule. But if you guys are watching the price this morning, we did kiss 80K. So the bull posting will commence on simply Bitcoin. No more bears in the chat. No more. Look, I will have to, you know, take Nico to the metaphorical back shed here. And we're going to, we're going to end the bear posting. But let's look at some on chain metrics. And then we will kind of talk about it. Looks guys, it looks like the super cycle meme is back. There's been a lot of talk about the cycle. How long this next bull runs going to be?

2:02But an interesting metric that I saw is a bit for next here. Well, orders are back on Bitcoin near 80K. And again, this morning we did hit 80K. Let me see where we currently are. We're at 77.8. So we didn't break through the 80K yet. Again, it's about 83K range that everyone is watching. Once we get past that bull run officially back. But anyways, this goes that size dominated the February, April lows near 60K. And whales are stepping in at key levels are possible sides of accumulation and spot Bitcoin. Also, I have been telling you guys, it does look like the Wicoff accumulation is playing out perfectly. And if you are a Wicoff maxi, it does look as if we are in like the phase D of Wicoff accumulation, which means only a little while longer before we get the break to the upside. So who is it in the chat? I think it's senior or gringo poppy every single day, when one mill, when one 50K, not yet, but soon. All right. So watching the price over this weekend is going to be very interesting.

3:03Again, if we do not break down under 75K right now, it does look like we are officially out of the woods. So that's what we're watching this weekend. Is it going to get enough pressure to break 75K? Well, it looks like accumulations back on the table. And then of course, you guys know, I really been liking, I always mess up his name, but key young Jew, you key young Jew, key young Jew, the founder of crypto and he goes Bitcoin analyst consensus. It is a strong buy. And actually looking at these charts, they look very similar here. So look at this one, the accumulation, these graves and green and red segments, almost line up perfectly with this Bitcoin consensus of its abide. Now remember, we did see, and I'm not even the biggest fan of the fear and greed index, but we did watch the fear and greed index go extreme fear. And then as we went up to the 80K, it did basically switch 180 to extreme greed.

4:07I think we're kind of more in the middle right now. So I think this little cool off that we've seen is extremely, extremely bullish. So I'm going to pause here before I go on further. Kent, I know you're a, look, I don't really care about the price kind of guy, but lately I have been hinting at a lot of the macro factors right now. And Matt Hogan basically touched on those as well, that we are seeing a very great macro landscape right now for people to move into Bitcoin. And we are single accumulation. Obviously it feels pretty good getting near 80K again. So I think I'm just going to do a vibe check here before we go into like the actual prediction of 1.3 mail by 2035. A lot of people are back on the table saying, Hey, two to three year bull run, super cycle, potentially, but before we get into that conversation, Kent, how are you feeling right now? What's the vibe check on your end? Of course, you do have a little more insight than maybe the average person

5:10because of what's going on in the mining space. And as we know, there's always the conversation of does price proceed, hashtray or does hashtray lead price. So general vibe check, Kent, good to have you back. How are you feeling right now? Are you starting to get bullish? Are you still not totally convinced that we are out of the woods yet? No, I'm bulltarded. That's just it. You're, you're, you're officially bull posting here. Let's go. Yeah, let's, let's go. No, it's, it's time. It's the season. I, I think, you know, last month when the price shot up what 23% at that point, my, my reasonable confidence that the low was in was in my, it was pushed up to like 95% and since then it's in my opinion, it's not a matter of if but when the bull really breaks out. So I know from a technical standpoint, yeah, we need across 83k.

6:11We need to hold that on a weekly basis and we're off to the races again, but all the indicators I see are there. And furthermore, what I see is that the big boys are now stating exactly what I would think is, hey, cool, on a risk of just a basis, this is the best time to enter, right? Because you've de-risked. The bottom is highly likely to be in at this point and the bull market hasn't truly kicked in. So if you want a great risk to reward for a long term position, it's now. And guess what? That applies to mining as well. We'll talk about that later. I'm certain opti, but yeah, everything I see here is just like, let's go. It's time to give bull tart again. Yeah. Yeah. Well, I mean, look, some of us never stop being bull tarted. We, we were just, you know, it's not that I was wrong. I'm just not right now. Okay. I'm always right. It just wasn't right now. Hey, let's do take a victory lap. I'm pretty sure it was like what one show or two shows ago, where we were both

7:12like fairly confident that the bottom was in. And I think we were still getting some, some, some, yeah, some, some, some smack about that. But, you know, it's, we were right. Yeah. Yeah. I mean, you know, Nico, look, Nico's not here. So I don't really want to talk too much smack about him. But I've always actually this last week. I've been kind of joking. I'm like, dude, Nico has this very bad habit of doing the midwit confidence, where like he just, he just talks about something so confidently that he's like, I'm right because I'm confident. I mean, you're like, I don't know, man, like it looks like we are out of the woods here. And I think we are starting to make an uptrend. He's like, no, Q4 October. We're going to see a low and then he'll back off on it. So I've been kind of trolling him lately. I'm like, dude, you're just like full midwit argumenting here. It's like, I'm confident. Therefore, it is right. And he speaks confidently. But, you know, I'm not really talking smash or trash on my, my co-host here.

8:13He's my best friend. So it's just a little bit of trolling, okay? A little bit of trolling. But yes, Kent, we were right. What was that about a month? Was it a month ago? Maybe a month and a half ago when you were on and we were both like, I don't know. I think, I think we're starting to make the climb again. And here we are around 80K, 77.8. It's basically 80K. And it's looking, it's looking very bullish. And actually, before I get into kind of like the idea of cycles, it's not really a cycle because I'm no longer a four year cycle maxi. I know, I know it's, it might be counterintuitive and hot take here. But I think this cool off that we saw. So we went from what 60K to about 82. Now we're cooling off a little bit going sideways around 77.8 under around, we'll just round up to 80. I think it's a very bullish cool off here. Like we do not want to see the price rip, you know, overnight to 100K because that would mean we would have a more aggressive cool off. So seeing the price go sideways right now in this range, it's honestly making me feel

9:18extremely bullish, considering what we're seeing in the macro markets. And there's like no sell off happening. I'm like, oh, this cool off is so bullish right now. As we just said, it's like, this is the best time to be buying. Whether we're right about it getting into the bull market, it's still the best risk return time to be buying. It's a strong buy. This is a good time to get back into the market. I've been telling that to all of my friends, they're all calling me like, yo, should I get back in the market? I'm like, you should have been getting back into the market right now. Like you're, but what, I don't even know what's, it's like 20% off bottoms, maybe a little higher than that. It's like now's the time to be getting back in. Now's the time to maybe not full port your position back in, not ape into Bitcoin 100 percent, but it should be, okay, if you stopped your accumulation strategy, if you stopped your DCA right now is definitely the time to maybe get back into that DCA, but, but speed up the time frame a little bit because I'm, what, even if they are right, you know, the

10:21four year cycle maxes, you've got about a month before we know for definitive fact where we are. And I think you want to get into that position before October, but I've been saying that for a couple of months. So anyway, rambling, but Kent, do you think this, this cool off right now is, is bullish? Are you, are you feeling that same kind of energy? I know we all want to see 100 K overnight, but a little bit of cool off in the price action does make me feel pretty good. I'm not getting bearish here. Like, oh, we're going to crash. It's just like, this is healthy. This is healthy price action. Yeah, we want to digest these prices and not just rocket. No, we go straight up, you know, quick up is a good recipe for quick back. So we need to build some, some pricing stability along the way here. And I think, you know, anybody that hasn't been allocating to Bitcoin over the last six months, I think, clearly, at least for part of their dollars has been missing the opportunity of the cycle. I'm going to, I'm going to agree to disagree with you a little bit on the four year cycle.

11:23I think the four year cycle has, has moved a little bit. But if anything, this top may not to be a disbeliever. And it since last October was the peak. Now what I will say that is different about this cycle that is has never happened before is we did set a new all time high before the having, I believe that was like 72 K. If I'm not mistaken, somewhere in that rate in the 70 K range. But that had never happened before. So it's not totally a surprise to me that the bottom also happened earlier than the four year cycle, the traditional four year cycle would would pay it that. So all that all that's to say is four year cycles don't play. Let's just shift it a little bit in my head. But I think that we are setting up for something big. I think we have gotten into this phase where the last two cycles have been the market digest. I may have even said something similar last time I was on these. So sorry to be repeating myself if I have.

12:23But I think the last two cycles have been the market digesting various lessons. Like, oh, that was not Bitcoin. Oh, this is actually a valid store value. Oh, market, you know, tradfi wrappers are not as good as the real thing. You know, there's been a lot of lessons that I'm seeing the market digest that I think we had to digest, which is why the law of diminishing returns that a lot of people are banking on. I think that gets broken the cycle. Do we get crazy million dollar Bitcoin in the cycle? That would be a wonderful thing to happen. But I doubt it. But I think the diminishing returns that a lot of people have bought into, I think that gets broken the cycle. Yeah. No, I agree with you. I don't know if you saw. I think it was river that dropped a report last week that event eventually essentially said that the total global adoption levels right now is roughly averaged out around 10% or like under 10% globally. Actually, I think it was like four to five percent globally as high as 10% in certain

13:25countries and as high as like 14 and 15% in certain countries. But like the average adoption levels, the population numbers is about four to five percent right now. And that's been just like the, you know, left side of the bell curve take on this whole thing. I'm like, okay, even if we are being generous and there's five percent of the global population that are in Bitcoin, you're telling me you believe in diminishing returns when like 95% of people aren't in this. And or even if we go as high as 10% look, you know, 10% global adoption levels, which is like, I think absurd levels. I don't think we're at that level right now. That would include like, shit coin adjacent and maybe like, you know, Bitcoin corporate rappers included in that number. But if you believe that it has Bitcoin adoption, Bitcoin holders is 10% of the global population. And you think that the other 90% going into Bitcoin means we're only going to be seeing diminishing returns. It's like, you know, what's the meme? I got a bridge to sell you.

14:25I'm like, no, I don't think I'm going to work out. I think it's going to break to the upside. But even if that is the case, even if we do see a diminishing return, kind of play out for the next cycle. If we see a 5X right here from 80K, that's about a 400 K Bitcoin price. Like, there's still a lot of price action. There's still a lot of games to be made at least in Fiat terms here. But I'm with you. I don't really believe in diminishing returns mean. And the only reason I really say that the four year cycle has probably broken is exactly what you said. We saw an all time high before the having. We saw a low before we all expected it to happen. Yes, we did kind of get the all time high blow off top exactly where we kind of expected it to be. But if you're looking at all the metrics, there's what around four metrics for a four year cycle to continue. And it's like Bitcoin only hit one out of the four. So like, do we completely negate the other three factors or the three criteria because

15:26it hit October 2025 high and then we dump? I'm like, I don't know. I just think it's playing out a little differently. And then to add if we have seen the bottom, like you said, we saw a bear market low way quicker than we've expected. And that does kind of lead into this first chart in terms of super cycle. And it is kind of based on the ISM PMI business cycle chart, which I find to be very interesting again. What's the what's the idea? All models will break, but some are useful or whatever the idiom is. So here's Willie will now, of course, I'm not the biggest Willie Wu, you know, fan boy on his chart boy, but it is an interesting case. And I saw Mike Moss is kind of doubling down on this idea as well. He just dropped a banger video. He's like four year cycle is dead. Mythical super cycle is back. And so here's Willie will two days ago or three days ago. This would be Tuesday. He goes about that mythical super cycle that never came.

16:28For the first time, I'm seeing structural data hinting it may be developing. And I'm pretty sure this is, so this is Bitcoin liquidity cycle. You can see the Bitcoin price. And here you can see the Bitcoin liquidity cycle. We didn't see a dip. So that does line up very closely to what we've seen with the business cycle chart where we haven't seen expansion in about six years or yes. And so about 2021. And that was the last time we really saw Bitcoin make a really good climb. Since we didn't see really that much liquidity enter Bitcoin, we obviously didn't see that much liquidity leave Bitcoin. And that's why we've had these kind of shallow dips throughout this cycle. But anyways, he followed this up with going the structural data liquidity cycle, our internal model liquid liquidity for Bitcoin in a normal cycle bottom. And we'd expect a much lower trough. The shallow trough is akin to a mid bull market dip, which a lot of people have been saying.

17:29The risk model tracks by-sided investor liquidity, structural bottoms happen on sustained downtrends to zero. This is a real bottom over 90% probability, not a fake out ruling out the case where in a mid bear market bounce. All past cycle bottoms, 2012, 2015, 2019 and 2022 have been, have seen buying coming in when the cost basis of recent investors drop below the universal cost basis of all investors. This structural bottom happened without crossing below again, more akin to a mid bull market dip. There's alpha leak here with models we keep for subscribers, but the subject matter at hand deserves some depth. So here's the chart to kind of back that up, what he was saying. And if this is what's playing out, it would play into exactly what can I just hit on, because we haven't seen such deep bear markets. And because we haven't really seen exponential growth to the upside, it does feel like a mid bull

18:30run kind of correction and not so much a real bear market. I think moving forward though, if we are in this new paradigm of only 50% bear markets, are we going to have to maybe rewrite the rules of what we consider a bear market? And I saw something similar happen in traditional markets. So in traditional markets, a bear market is really considered if it gets around, you know, 23 or 25% dip, then it would be a bear market. Usually only last for like 18 months or something. It's like six to 18 months is the bear markets and traditional markets. It's really more like closer to six months. But with AI stocks now essentially driving the entire global economy. I don't know if you guys saw that metric yesterday, but they were saying if there was no AI in the inclusion of the indexes like the S&P 500, we would probably be seeing a 50%

19:32correction in S&P 500. But what have we seen? It's just continuing to go up because AI is the only thing keeping the economy afloat. So with that idea, a lot of people in tradfies are looking at the kind of historical metrics and they're like, wait, with AI now and the volatility in AI stocks, we might have to deepen our bear markets to a 25 to 50% level. But for us, it's kind of like a, you know, the floor is going the opposite. It's like, okay, well, if we're not going to be seeing 80% bear markets anymore and we're only in for 50% bear markets, is this super cycle just not how we really intended them to be? And I'm like, hey, I'm here for it. Let's see, mid cycle bull corrections. So that would be, you know, 50% mid cycle correction. Now the next two to three years, which we're all expecting to be nothing but a bull run, how high can we go and how much liquidity is going to be attracted to Bitcoin?

20:32And Jesse Myers did something similar. This was actually, I think the very same day that they tweeted this. Oh no, this is a couple of days before, but the Willie Wu tweet kind of reminded me of Jesse's tweet here and he goes, Bitcoin may have just begun a two to three year bull market. And then he lays it all out, but we don't need to really talk about that one. I like point three. Welcome to the new bull market. If the 2022 bear and 2023 and 25 bull cycle continue to repeat, we have just begun a new two and a half year bull market, which does align to, you know, Bitcoin. It's going to be essentially pumping into 2029, 2030. If we do see a, another kind of mid cycle, super cycle bear market here by 2035, 1.3 million doesn't even sound that crazy. And remember, River's report, they're like base case was mid seven figures. Their bull case was like $846,000 per Bitcoin by 2030. So a lot of people are pointing towards something very similar that we might be in for an incredible

21:35bull market. I've just been bull posted. I'm like, I am the source. We're going to, we're going to get incredible bull market this time around. But anyways, as I pointed out my prior post, the start of a new bull market is not a result of good news arising or arriving rather, it's primarily a function of the bearish trend running out of steam and sellers, which we have in fact seen right now. What's left are three types of portfolios, those who don't know enough about Bitcoin to want it yet, those who are happy with their Bitcoin holdings and those who are waiting to buy Bitcoin lower guess which group is watching in pain. In the early bull market, this is the drive powder that one, that would bid Bitcoin upwards of the bearish capitulate and get back in one by one. This is just the first stage of a bull market, the pendulum of market psychology for Bitcoin has just begun to swing towards the bullish zenith. It will take years to go from disbelief, which is now to optimism to mania. A big part of this process will be the next having currently on track for mid April 2028. New Bitcoin supply issuance will be permanently halved. This causes a supply shock, but more importantly, a marketing narrative for Bitcoin.

22:38People will front run, other who chase, all of that is still ahead. So getting bullish here, I like a little bit of bull posting on a Friday, guys, maybe we're back to normal, simply Bitcoin behavior during a bull market where we just bull post the whole time. But that last sentence can't it, it kind of brought a question to my mind. And since you're a Bitcoin miner, I think it's only fitting that I ask you. One of the kind of ideas for why the four year cycle may be losing its grasp is because of the having. And because we went from six point, I always messed it up. It's 6.15. Wait, no, 6.25. Hot always get, American hot always gets in my head here. So we went from 6.25 to 3.125 Bitcoin released, you know, every block. And now in the next having, that's going to get cut in half. So to be what one point, do you have the numbers on it as a one point seven? No, I got to do the math.

23:39Yeah, I got to do the math. Bless you, bless you. It'd be, it'd be about one something Bitcoin. I forget what the number would be. One point, I don't know, I'm blanking. One 156. One, one, five, six. One, five, six. One, five, six. Yeah, one point, five, six. Okay, one, five, six. So we go from 3.125 to 1.56 Bitcoin every block. Now the question here, and I'd like your perspective on this and sorry for all the context. But now that we're seeing the issuance of Bitcoin hitting the, you know, the daily amount hitting the market be cutting half to roughly, you know, one and a half Bitcoin, do you think that we are essentially now entering not necessarily a new era, but kind of like a new phase where the issuance of Bitcoin on the network has just like, it's starting to really lose the weight and the effect that it used to have, which would lean into the

24:40idea that the four year cycle may not be having to impact moving forward. Have you thought about, I'm sure you've thought about that. Well, let me, let me go back to a few things because I think you've had a couple of things you've said that I, that you're sourcing from other people's statements, but I just, I don't buy the first, the, you know, I'll work to answer in your question. You're the first one is that 5% of the global population is adopted Bitcoin. I call other BS on that number. Yeah, me too. 5% of 8 billion would be 400 million and that is bigger than the US population. I will say the US is the biggest market in the world for holders of Bitcoin. I go to a lot of conferences in the US. I was just there for the last two weeks. I just got home on Sunday and Bitcoin is like the bum on the street that everybody sees but walks around. Nobody's willing to talk about Bitcoin because they're scared of it. It's just too emotionally charged and as a result, I cannot imagine that 400 million people.

25:43My honest like instinct on it is less than a million people have adopted Bitcoin at this point. So that's all to say that there's a lot more upside than the 5% adoption rate that you are saying there. There's a whole lot more people that could pile in and push the price higher. Second, the upside, if we have a euphoria phase and I think we will this cycle and we get that big run, you don't get that big run without an equal big drawback. The only way that I don't see that happening, so that means like the 50% drawdown, if we've had diminishing returns for the upside and the downside and we suddenly break that, I think we get equal downside again, is would be my base case. That said, there could be an exception and this could be the one, the mythical one, right? I'm not going to hang my hat on that at all. It could happen, possibility, but if it is the one, then that is the hyperbictcoinization,

26:47break, new monetary paradigm, all bets are off and at that point, what's the unit of account is now in question, right? We're probably not going to price in dollars anymore. Not saying that that's happening, that'd be the only way that we have euphoria without the big drawdown that is all I'm trying to say. To your point about our miner is going to swing the market any longer, I think it all is in the context like how much liquid Bitcoin is out on the market and how much Bitcoin do miners have. I would tend to agree with you at this point with what I see, you know, hash rate is decentralizing. The big boys are pivoting to AI and that pivot to AI is a one way door just because the capital to invest in AI versus Bitcoin mining is a 15x difference. So you don't invest that type of capital and expect to come back to Bitcoin mining. So the big boy, Bitcoin miners aren't there and the people that are going to be pushing

27:50up hash rate are going to come more from little guys. Now there'll be some big players and there are big private actors, but it's not the public markets where most of the hash rate was aggregated and as a result that decentralization I think more of the private actors are there to acquire Bitcoin, not to acquire dollars on their using Bitcoin as a medium to get there. And so that means there are going to be more holders less folks puking up Bitcoin and selling into the market. So the dump effect from miners, the next bear market won't be as high. So I gave a lot of really nuanced context there. I'm sure I confused a lot of people, but that's all to say like if I were to give a base case for what's going on, yes, we have a bigger cycle. You for you. That means bigger drawback, less impact from miners this cycle though. I like every, hold on, I liked everything you said except for a big dip. I like these 50% bear markets.

28:50Even though this bear market was absolutely brutal in terms of sentiment, it felt a little better than if you're all in on Bitcoin and you have to use your Bitcoin and it goes 80% loses 80% of its purchasing power. You drop a lot more coin than if it's at 50%. So I'm with you, but I would like to see 50% bear market to be the norm. So we got a 400K, but we pull back to 200K. That sounds great. Obviously, yeah. You're not going to complain. If we have a really crazy cycle, we go to a million and pull back to 200. I don't think anybody's going to really complain about that. So it's all relative is my point. Yeah. I guess I would have to actually, you know, secure some gains in dollars so I can survive another bear market, man. You know, part of this is like I'm getting older here. Dude, I'm, I'm, I'm, I'm, I'm, I'm status here. You know, I don't have grays yet, but man, you know, the volatility it does start to, it does start to wear on you a little bit. Only in a bear market, the volatility to the upside is fun.

29:52But dude, if we went to a million, this cycle and then it got pulled back to 200K, like, I don't know, that'd be pretty brutal. If you just rolled the roller coaster, maybe I'll have to listen to JJ on rumble and, and he'll give me the, the group, you know, sell buy signals here. So we don't have to endure another bear market, but. You know, you and I both will probably think it's going to be the bitquadization, hyperbiquadization. You won't sell it. We'll write it. Totally. Totally. You know what's going to happen just because I have done it too many times. I know. Literally, I do it every time. I'm like, oh, this is it. This is it. And then you like, damn, I was wrong again. Fuck it. Like, oh, man. All right. Well, hey, I guess I got a white knuckle and other bear market, but, but I think the, I think the general idea here that, that we're both kind of leaning into is like, I think we are starting to feel the sentiment come back and the bull posting is coming back and

30:53people are like starting to feel a little more comfortable that we are ending this bear market. And so people are having a little more fun. The vibes are a little better though. In the last couple of weeks, there's been some pretty, some pretty bad vibes here. So, you know, relatively speaking, it's not that hard to get better vibes in the Bitcoin ecosystem. But yeah, man, bull posting continues guys. The bull posting shall commence the outgo traders can now rewatch simply Bitcoin and dump the price whenever we get bullish. So you're welcome, cheap sat. You're, you're totally welcome here. But one day we will come on the show and the price will continue to rip. Anyways, let's keep it moving. I was thinking of maybe pivoting a little bit and just me and you chatting because there was a funny clip from Scott Bessent. He said something like the Bloomberg bros, if they're unhappy with me being the house now, like, you know, tough luck.

31:53But in the context of this, I think I'm going to just double up the brakes here and then me and me and Kent will just chat about stuff because I like just chatting with Kent. So I'm going to make an executive decision. We're going to throw a little audible here. So I'll be right back guys and Kent and I will come back with chat about a few things. Kent's been dropping a couple of articles. So he flushed out some ideas that he started on the show about a few weeks ago and then also guys, you know, it is 9 and 11 also. So bittersweet day, but hey, we're Bitcoiners here and we're all for liberty and freedom. So I think that's probably what we'll chat about here. I'm going to unpack Kent's views on things. So on that note, guys, give me, you know, a little leeway here. I'm going to I'm going to double up the brakes. So be back in about three minutes. During your Bitcoin journey, you might find yourself in a situation where you need some cash. Maybe it's your family, a business expense, a tax bill, medical reasons, whatever it is,

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35:02on X or Hive Digital Tech dot com. All right, let me run through the numbers here real quick. So the current price is $77,730, which is a 38.4% discount. We're back to $1.56 trillion market cap, and the block height is 965,225. All right, guys. So Kett, you shared this with me. You started this on the show last time you were on. Now you fully fleshed out an article, the idea of the golden pocket. So I don't want to read the whole article because you're here. But just a headline, Bitcoin's first hash rate, bear market is setting up the best mining entry will ever see. Ever see? You're muted. I think you're muted, bro. So I'll stand behind that because this is the first bear market that we've had for

36:04hash rate ever. So at least for 16 years worth of history, this is the best entry. The reason is nuance. And that's why I wrote the article. I talked about this last time. Let me see if I can get this out of my face. I talked about this last time on the show, but to simplify the argument, because there's been an unplugging of a lot of machines, hash rate has declined. And the reason why there's been an unplugging of machines is competition for the powered land by AI. So compute for AI has picked up while compute for Bitcoin mining has gone down. That's big boy capital that has been unplugging. And those are the buyers of the rigs that drive the manufacturers. And so as a result, there has not been demand, prices have fallen.

37:04But what I'm seeing from pricing is that they can't fall further. And so the logical conclusion is that the production lines have to have been dropped. There's a lot of the manufacturers have been trying to actually have their machines hosted at other vendors in order to do something with their inventory, because Bitcoin mining hardware can produce. So why just keep it on the manufacturing floor? Why not get it deployed? And I think that's a desperate attempt to just keep the lights on and keep the funds flowing. Now I don't know if any of the manufacturers are truly on the road. So that's not what I'm saying. But what I am saying is it costs a lot of money to keep manufacturing lines up and going. And if you don't have the demand, there comes a point when you have to shut off the lines. And I believe based on what I'm seeing that that has occurred, what that means is the inventory that's on the market is as cheap as it will ever get.

38:06And once that is absorbed, it's going to be harder to get equipment. I think it is being absorbed right now as we speak. But I don't know at what point manufacturers will have the lines turned back on and be cranking out the supply again. So why I call this a golden pocket is I think that there's going to be a time period. I don't know how long, but I would estimate as long as 18 months, where if you're plugged in, price is going to be ripping, but hash rates are not going to be coming online. So your SaaS per unit of compute is going to stay relatively fixed. So the gap between the cost of production of your Bitcoin and the cost of what you could buy it for on a secondary market is going to get quite wide. And that's going to be a massive opportunity as a minor. And it is just a different experience to mine than to buy.

39:09When you mine your Bitcoin, you're producing it. You're controlling your costs, your input costs by your decision on when to mine in your electricity price. And when you're buying on the secondary market, you're subject to the supply and demand dynamics for Bitcoin itself. And if you're locking in your cost of production for your Bitcoin at an unbelievably low price, well, guess what? As the price rips, you get to take advantage of that. And so it's going to look really sexy, I think, over the next year to 18 months. Interesting. You kind of spoke a question in my head. Do you think we've seen, and using hash rate as like the metric, do you think we've seen like peak hash rate on the network? Is that kind of what you're saying? Because so much, I'm not saying like forever, but just for right now, obviously, there's

40:09a bear market in the hash rate. A lot of that hash rate ported over to AI. And I do want to ask you about kind of your thoughts on just that general theme we've seen. But do you think so? Essentially, if what you're saying, it's like 18 months, the hash rate is going to be pretty stable because they can't really switch that hash rate away from AI because of the incentive structure back into Bitcoin mining. Are you essentially saying that we're probably going to be going sideways in hash rate for the next year and a half? And because you don't see a potential, well, obviously, there's always a potential, but it's hard to get that much hash rate online very quickly. So are you saying you're just like, hash rate is probably going to flatten out for a little bit, and then I'll start ramping up again? Well, hash rate has been flat the last two to three months, right? I expect it to go up again, but at a very measured pace as compared to what it has done in the past. And what I expect to just kind of put some numbers on it, I am sort of shooting from the

41:14hip and kind of have to to degree on this stuff because nobody really knows there's so many moving pieces. But if you look at historically over the last five years, and I take this data from before the bear market, right? The increase in hash rate was something like 2.5% a month. I mean, that's insane. It's really hard to understand that you look at a chart, but 2.5% increase, like month over month, is all hardware electricity, data centers, I mean, it's insane. But we've seen a 20% decline since the peak last October in hash rate. And what I would expect is something like maybe 1.5% a month increase rate. So it will be much more measured. But if you look at Bitcoin price increase on a per month basis, it will probably be something like 3%. So you get to take advantage of that arbitrage between the rate of price increase versus the

42:14rate of hash rate increase. As long as prices is going up faster than hash rate, you're winning as a minor. Yeah, 100%. And I mean, historically also, I'm really good friends with Alex. What's his Twitter? Like Megamine Alex, Megaminer Alex, and he's always obviously this is job to sell ASICs, but he's probably the worst salesman ever because he always be like, look, everyone comes into buy ASICs from me. And I'm usually telling him like, dude, just don't buy them. Like I talked myself out of the job. But he always, and he's been saying for years and all my friends that are in mining, he always say the same thing. It's like you, it's essentially the, you want to buy ASICs when there's blood on the streets and the bear markets are always the best time to buy. But I think your idea of the golden pocket is also like a new, a new variable that's added into this because of AI, because we're seeing so much interest in AI. And further, we've seen, you know, some of the biggest Bitcoin mining, public Bitcoin mining companies, some of them literally like stop mining Bitcoin and they're just going

43:18full AI. And so there is this new variable right now that of course it's AI, it's all the rage. You know, it's going to, it's going to wear on YouTube. It's going to end us all by 2030 or 2032, depending on what cloud prompt you're using. So it is an interesting time. And I find it interesting like what you said, Kent, that once that hashrate or rather that data infrastructure, you know, that database infrastructure goes to AI, it's probably not going back. I don't think I ever really thought of that term because we think of that like the, maybe it's a wrong way to say it, but the fungibility of just electricity where it's like, oh yeah, like they can switch to AI and switch back to, to ASIC mining. But if they're going, if they're full porting into AI, they're essentially selling all of their ASICs as well. So it is interesting to think that like the hashrate that left for AI is probably not coming

44:19back for Bitcoin mining. I never really thought about that. But anyways, I'm just thinking out loud. Can I break it down a little bit more? Yeah. I mean, this is, this is, this is the land of construction. And a lot of people don't understand how like our, the infrastructure actually works behind it. But the fungible part of these publicly traded mining companies is what I call powered land. And that's just the raw ground and the electricity there. The data centers themselves are not fungible. You can't convert a Bitcoin mining data center into an AI data center. They're just not compatible. Even trying to retrofit doesn't make sense. I mean, so when you price your data center, kind of the common unit is, by how much power it's going to use, you price it in megawatts. And to give an idea to set up one megawatt is approximately a million dollars worth for Bitcoin mining. To set up one megawatt of AI infrastructure is about 15 million, 15 to 20 million dollars,

45:23right? So you go spend 15 million dollars to get all that AI infrastructure set up and, and you're going to come back and, and, and unwind that for a million. Like maybe you've got space, maybe you've got power in land and you add Bitcoin mining. But you're not going to take an unwind the AI data center infrastructure like that just is, like, nonsensical. But it makes sense to go from capital, really, I mean, Bitcoin mining is capital intense. But to go from like this level capital of 10s to this level, yeah, that's a one way street. You're not coming back. Yeah, now that's interesting. And really, I didn't, I didn't realize it was that expensive to do the AI build out. Probably why the entire economy is a float right now because of the stock market going up and the AI build outs. But I do want to get your general thoughts here on the overall transition from Bitcoin miners to AI. Obviously, you're in the mining space, so I don't, I don't want to, you know, make you

46:24any enemies here. But do you think some of these companies are making a mistake by, you know, fool porting into AI? Like what's your just general thoughts on that transition of Bitcoin miners becoming AI data centers? Oh, I think I personally think it's a colossal mistake. I'm like, well, I'm like, wait, I, you know, plead the fifth and you're like, oh, no, huge mistake. All right. Sorry. You just say, I mean, hey, man, you got to stick a claim in life and you know, I could have ego my face. I could be totally wrong. But I think the mistake is actually driven. And I'll say this because I, I'm not convinced it's actually the pub co's making this mistake. So much as the investors in the pub co's are making this mistake. So let me, let me back up a second and explain something very fundamental. But when you have investors, you have a mandate to return and provide a return to your investors. Like that's the, that's the contract between yourself and Wall Street. Now if your unit of account is dollars, that means the publicly traded company needs to

47:27return more dollars than was invested in, right? And so when you look at that, that, that state of play, it's sort of incompatible with Bitcoin mining, right? So you're going to have investors that are for, they're for dollars, but are seeing the Bitcoin mining and the Bitcoin that's produced as a stepping stone to getting more dollars. And that's just, it's incompatible. So I think the investors drove the Bitcoin mining companies to go do that because if there is a good ROI, the problem is it's based on this short-term thinking, you know, it's, it's, it's high time preference thinking over the long term and you got to look at Bitcoin at least a four year lens, you're going to wind up better in Bitcoin mining. So when you saw the pivot happening, I think was going to be a prime moment where yeah, it looked better, but give it two to three years, I think it's going to look worse. And I say that because I, I do think that there's probably an AI infrastructure overshoot for the data at the data center level, I think that there's a fundamental desire for most

48:27people to actually have AI on edge compute, not in data centers, meaning like, in devices in your home. And there'll always be a need for cloud compute, but I think the data center level is going to be overshot. And so I think that it's going to be a route at some point here. I could be totally wrong, but that's, that's my current take on things. Well, look, you got me thinking, you know, guys, like I may be dumb here and I may look stupid asking this question, but when I think of the incentives or the profits that can be made in Bitcoin mining, like it's very simple, you know, you, you mine cheap Bitcoin, it costs less than the Bitcoin on the market, you know, that spread is the profits. But again, I haven't done the huge deep rabbit hole in AI. I've actually kind of been an AI ledite though, you know, we all use it and it's incredible. But I don't see like where, where are the profits coming for these AI data center buildouts?

49:33Are they just betting that, you know, these like anthropic IPOs are going to be insane and that's where they get their gains? Like, what do you, do you understand where the profits come for these data centers? Like, it doesn't make sense to me. I mean, it's all based on the compute itself having the returns that currently have, that they're currently having, but the way I'm seeing it go is things are just going to get more efficient. In fact, if you look at a lot of the curves and I, I'm not a ledite, but I haven't done the deep dive you're talking about on the AI side. I mean, I just have seen it in like, no, we're more of Bitcoin business. We earn Bitcoin as our management fee and we're in it to win it. It doesn't make sense for us to make a pivot to AI for what we've got. But that said, if you look at the curves for the compute and the efficiency gains, very much of years will happen with Bitcoin mining. So I would expect that the energy used per token is going to go down over time, meaning

50:33that the tokens are going to get cheaper and there's going to be some desire for increased efficiency and models and there always be need for data centers. But there's, as the efficiency comes, it's going to meet hardware to a certain point, a consumer hardware and it's going to be more on device and less in the, in the data center level. So I just don't see how this plays out well for the data centers. And I think if you look at every single major infrastructure project that happened where Wall Street got excited about investors through a lot of capital at it, it always ends the same way, which is within overshoot. So is this time different? Maybe. But it wasn't different with railroads. It wasn't different with fiber optic cables. There's a laundry list. I've read some posts on this where like literally every single major infrastructure play that was going to be the next great thing into the same way. Is AI different? Maybe? Let's find out. I would, if I was a betting man, I would take the under that this time is different

51:36on this AI build out. Obviously, and the biggest thing is the thing I keep repeating. It's like our literal US economy is only doing well right now because of the AI build out. And if that's not a signal of like this probably isn't overshoot, I don't know what is right now. Like, you know, I don't know if you guys watch or I can't, I don't know if you watch or saw some clips, but you know, Trump was at an RNC midterm rally at Dallas this week. And one of the things he, he was out there touting was like, the stock market has hit 80 all time highs. And in my head, there's like two reasons. I'm like, yeah, well, there's a huge AI hype. And then also obviously the, the dollar is devaluing at the same time. So I don't know if it's a win that everyone believes it is. It's really like, yeah, we are all getting broker in real terms, but the AI hype cycle is building. It's the only thing keeping us afloat right now. Yeah, it just, it really feels like we're at that point in the party where it's like two

52:41to three and, and just go for that last beard and just, just, just keep this hangover away. Just a little bit longer before it kicks in. It just feels like we're at that stage of the party. And I don't know what happens next. I'm not saying that, but I do have to ask, is that, is that the same event where he was saying something about giving everybody the, yeah, yeah, like five four. Yeah, it was, it was before, before that, like he did the whole, I didn't watch the whole thing. I pretty much turned it off after that five chaos, like, okay, like this is, like, this is crazy. You know, it's just like the end of democracy or the end of the republic. He's like, I'm just going to buy your votes off. I was like, all right, man, like this is insane. And then of course, the big corner in me is like, okay, wait, how are they going to pay for this? Like, are we going to see the biggest, stimme package ever? You know, I think it's like $1.5 trillion that that would cost or 1.3 or something like that. But yeah, before, you know, he's talking about all his wins, you know, everything he's done.

53:42He loves pointing at the stock market all time highs as being like one of the, we're all getting richer, you know, little, little does everyone know that most people probably don't own the stock market at S&P 500. So yeah, it was like right before that. And he's like, oh, yeah. And if the republicans win the midterms, I'm buying your vote off for 5K. And everyone's like, why 5K? Why don't like 10, 20 K bro? Like 50 K. Come on, dude, you're like, how much is my, my vote cost? Like, let's, let's ramp those numbers up. If we're going to buy votes off, at least make it compelling here. It's like what, $200 a month for the last two years. It's like, I don't know. They might be worth more than that. But get the money printer going, bro. Turn the money printer on. Yeah. It's crazy. Let's just get it over with. You know, it's funny because I remember here in sophisticated people argue if the future is going to be more like 1984 or Fahrenheit, 411 or whatever, whatever that, that, that, those two books were, but it's funny because I think idiocracy is actually the best predictor

54:44in the future. Yeah. What's, uh, what's it, uh, the president, the commancho savage or whatever? Yeah, there you go. Terry, forget. Yeah. Yeah. Yeah. Really? That's, it's a document. It's a match. Yeah. It was a match. It's like, I'm just going to buy your vote off. It's chill. Where's the money coming from? Don't worry about it. We're rich. Uh, Stimmy package is on the way. I'm so with it. Also, it did, it didn't remind me of, uh, if you had, and I, I didn't really update the numbers, but someone in the chat was asking me. They, uh, you know, if you got the 2020 Stimmy check of $1,200 and you put it into Bitcoin, I think at all time, high, it was about $20,000. That that would be worth. Currently, it's around like 14,000 or maybe 13 and some change. Uh, so hey, every one of us that took the Stimmy check and just bought Bitcoin with it in 2020, whereup, what, uh, 10X on that, I guess. Would that be a 10X? Yeah.

55:45Yeah. Good trade. So look, if we do get the 5K Stimmy check for the Republican winning the midterms, we all know what the Bitcoiners are going to do. It's just full port that into Bitcoin, uh, in another, what, damn, six years. We'll all look back and it'll be worth, uh, 50,000, Cuck Bucks. So it, it's going to be a good trade. Either way, we will win here as Bitcoiners. Um, but yeah, it's just crazy to look back on this and think that the 2020 Stimmy checks was about, I think it was $250 billion that it costs. This one's going to cost like $1.3 billion. We all know the inflation we felt from 2020 and, uh, Bitcoin's the best way to really price that. So good times, really good trade. We made there guys. Um, anyways, anyways, oh, Ken, go on. Oh, I was just going to say, you know, it's, it's funny to live through watching the money that you counted on from your childhood, become monopoly money.

56:46Um, and it's, it's really like, you know, I guess I'm starting to identify with what it's like to be Venezuelan or is in Bobway and or some other like foreign exotic country that you never thought would happen. And I think actually that's, you know, I'm, I'm going to get a little philosophical for a minute. But I think that is actually one of the things that's keeping the dollar of float is just Americans, I think in general, do not think it can happen to them. Right. Where I think because we've had such a good currency for such a long period of time and we've been such the center of the global power dynamic that I think that we're just blind to the fact that, hey, our money is divorced from the laws of physics, which means that politicians that want people's votes are always going to figure out ways to get the money printer to go burr to give the dollars. And Trump is just being, hey, let's take off the mask and just not be silly about this. Let's just be blunt, which actually there's, there's a part of me that's just like, OK, at least he's honest, because we've just been doing clever ways of getting money

57:48to voters. But, you know, politicians want to be voted. They want power. So they're always going to figure out how to get the dollars to the voters. And the only constraint that can actually stop that dynamic, it stopped us from destroying our own republic is if the money's actually tied to the laws of physics and physically constraints, politicians from being able to give the voters what they want. So it told the dynamic changes until we're on hard money, like this, this, the, the, the rodeo is going to go on here. So I don't, I don't know how the ending of this ride happens, but I can tell you that the ride continues. Yeah, I mean 100% like, you know, two, two Trump's credits exactly what you said. At least he's like, like, hey, we all know politicians lie and they're scammers. At least there's an honesty to him being blatantly a liar in the scammer. He's like, like, yeah, I'm inside of trading. I made $1.3 billion on crypto. And yeah, what actually there was a good Freudian slip.

58:49I'm pretty sure it was at that RNC. He's like, what do you say? He said something on the lines of like, yeah, we've made, you know, billions of dollars in the stock market. And then he paused and he's like, we as an America. It's like, okay, bet. But there is, there is like a, you know, a level book quality. If you could say that about just a transparent robbing of the coffers versus all the diluted and complicated ways that we've seen in the past, but you asked where does this end? It will end very badly if the Democrats get into power in 2028. And all of this comes crashing back against all of us. They will just buy off the votes. They're going to print a shit ton of money. They're going to be in a, you know, open air prison in the US. It's going to be a good time, guys. The gulags are going to be super fun. I can't wait for that. Well, well, we haven't good time together. Yeah, I think I might get a couple refugees down in my area of Latin America from one up in one Niko.

59:50Yeah, I know. Hey, look, I have a, I'm a stubborn person and I'm like, you know what? I'd never want to leave the US. But there was a point before the 20, what, 2024 election where the pressure was building you're like, yeah, wow, maybe, maybe the communists are taking over America. Maybe as big corners are going to have to actually leave America, but I don't know, this 2028 cycle. I'm not a, I'm not at the opinion. This is the most important election ever. But I'm just saying it's probably going to be some pain that we're going to have to endure here. Anyways, we're just rambling, but can't you did mention before the show that it is 9-11 here. So I think maybe we can chat about that a little bit. Obviously, I, you know, story time for me, I literally vividly remember 9-11. I was what 11 years old in middle school.

1:00:52And this is how you know it's like a, we lived in a, the before times. I remember walking into my first period class. Yeah, it was 11 years old. It was like, you know, one of early, I think sixth grade for me, wow, dating myself, doxing myself here. And I remember walking into my first period class and they had the television on. I literally walked to Twin Towers fall in, in class, sitting next to my, like my best friend. I was late that day. And the school was absolutely a ghost town. And everyone was in their classrooms watching the buildings. And as I, you know, like to joke, you know me, I like to joke a lot, but for, for people out my age, you know, millennials, it seems like every defining moment in our lives has been something catastrophic. Obviously, I think maybe I grew up, that's when it literally marks like childhood into young adulthood was 2001, 911 watching it in school, seeing the buildings, the planes,

1:01:56hit the buildings, all the aftermath, you know, people literally jumping out of the buildings and all that. And we were just like, whoa, like what world do we live in? And then obviously the other one for me, when I graduated high school, the 2008 financial crisis. And then 2020, like early, like early young adult is the COVID stimulus. And it's like, we were just built for this. So it's like, you know, all the zoomers out there, they're all crying about, I don't know, like someone was mean to them and they used the wrong pronouns or something. We're like, yeah, we, we, we lived through like every defining catastrophe ever. And we're just like, what's another one? You know, we're at 2026. What's 2030 when AI tries to, you know, go full-skine and terminate all of humans. Like, you know, what, what's another one, guys? We can, we can deal with this. This is cool. But no, I mean, obviously enough trolling about it. It's obviously a somber day here. Um, I think one of the things a lot of people don't really connect with 2001.

1:02:59We really just connect with the tragedy and the, you know, the conspiracies and, you know, it's an inside job and all that or probably couldn't say that on YouTube. But it was said, anyway, um, is the impact of it, which is obviously the patriotism act being implemented and literally living from like a slightly more free world to a, everything is tracked in bag and this budding digital penopticon that we live in. And this is why I think a lot of us in the millennial age, you know, 30s, early 30s, um, early 40s. I don't know. I forget what the, yeah, I think 40s is a still millennial. I think that's why us big pointers, there's like a really big population within this age range. It's because of what we all grew up through it, whether it was 9-11, the great financial crisis, you know, 2008. And we just, we really don't only see one solution, which is Bitcoin, people holding Bitcoin,

1:04:04number go up so that we're not all debt slaves and then freedom go up with that as well as we start to see the world transition into a hard money system versus this fiat system that we living through. So the money printing world, but anyways, anyways, my, my rambles there can't, what's your, what's your thoughts here as a Bitcoin or now? What is it? 25 years later. Amazing. That's what I was going to say. It's, it's a quarter century ago. Like that's insane. And, you know, I was reflecting, I can't remember where I heard it. It might have been somebody on Tucker Carlson podcast or, or somebody else, a big, a big name podcast, maybe Joe Rogan podcast or something, but this person said that they were going to like political events and they were having people come up to them and say, you know, here you're talking about the US, but the US you talk about, we don't know. We never experienced it. And that's, that was like shocking to me to hear because, you know, I was early 20s when 9-11,

1:05:05happened very much at gone past like adolescence, right? Like I was in college. And when 9-11 happened, I was working doing an internship in San Diego, driving my little 85 Toyota pickup when I heard it on the radio, got to the office to do the internship. Everybody's crowded around the conference room, staring at the television. This is, you know, before flat screen, so everybody's got the little roller tray, no, nobody. Yeah, yeah. And, you know, the, the BoobTube days and we were looking at the screen and everybody's just a jaws are dropped and I was, I was young enough and politically illiterate enough that I didn't really understand what was going on. I just knew, well, that feels like the word's changed and I just feel significant and I was driving back home and again, my little silver 85 Toyota pickup and listen to Howard Stern talk about it and trying to make sense of it all. And now here I'm 25 years later and I would say 9-11 was like the turning point in the US

1:06:05when the 90s were over and all that that that that funness like American top with the dream team, all of that. And then something different was born there. And I remember, you know, going through college and having all my friends and I was like the one like outcast even in the house that I was living in, you know, roommates in the whole bit. Or I was just like, wait, Iraq did bomb the US. Like there's no members of Iraq. Like why are we going to war there? And it just felt like like the whole all the the capital, the social capital, the cultural capital, like just that we'd been storing up since like World War II. Like I think the Vietnam War started to drain that bucket a little bit and did in a big way like the hippie movement and happened because of that, you know, because of the Vietnam War, we went off the the we went to the money printer instead of being back in our dollar with gold. And so that began the the slow unwind. I think 2001 was the inflection point where the unwind ratcheted up and you know, I think America needs the crisis

1:07:13that it's currently going through in order to find itself again. So while I think it's sad and it's tragic to see what's happening in the US right now, I also think that we lost our way as a country. And we're rediscovering ourselves right now. And I think, you know, one of the things I've noticed is somebody that's lived abroad for a lot of years. Like I'm American culturally. Like I walked down the street here in Latin America and I tell everybody I'm the gringo, you know, being being a you know, a six to white dude in Latin America, you are the DEI to your neighborhood, right? Like I just have a gringo, you know, so I can go. And everybody laughs and enjoys it. But I think the the reality is I love that I'm working in Bitcoin. So I got here through family reasons, right? Like I didn't plan it escape to Latin America at all. It was just by life circumstance. But I'm grateful that I can continue to work and do something that I think can morally push us

1:08:14the right direction and help us recover our cultural roots. And I'm excited for America to actually wake up and seize the controls. And I think we're not quite at the crisis moment. I am a big believer in the fourth turning. But I think we're getting closer and closer. And there's going to be a moment where the the citizens of the country wake up and and the sleeping giant comes back and we figure ourselves out again. But you know, one of the things I've noticed about Americans in general is we don't actually know who we are very well. Almost all Americans that I know sort of trace their ancestry back to European heritage and and or Africa or wherever. And they don't actually if you I haven't lived in Europe for several years, I never met a single European that traced their ancestry out of the country that they were in. Right. So that's that was the tell to me that, you know, we're still trying to figure out who we are and we're still a relatively new experiment. And I think Bitcoin is going to be part of the the next wave of America finding

1:09:18itself. And I'm optimistic that we will and it sucks what we're going through. So very nuanced take on all that. But I think we have to go through what we're going through to get to finding ourselves again. And so embrace this up people and we're going to be on the other side before too long. And I'm sorry for all the people that lost their lives in 9-11. I don't think the official story was at all accurate. And I think that it helped to promote and get us to this crisis moment as well. Yeah, I couldn't agree more. Part of what you're like what what you were just talking about. It really it really does feel like you said that we are in this moment of I think a lot of people kind of waking up to the political realities of the world right now. And not only the political realities, but like the societal factors that we are currently all living in. And it seems like such a huge problem that I think people either, you know, obviously ill and

1:10:19form. There's a lot of ignorant people out there. And I'm not doing the like, you know, Democrat like you're ignorant because you're Republican. But there's just literally like true sense of the world word like a lot of people just don't fundamentally understand how to fix the problem. And they just have like an emotional response to it. And I think like the biggest and probably the biggest white pill and black pill of that situation is like it will get better. But there also is going to be so much pain along the way. And I think part of our duty as Bitcoiners as people that I would say fundamentally understand maybe the core root problem of what we're seeing. And obviously like Bitcoin's not going to fix everything, but it's a good start to fix a lot of the problems in the world. Part of the like we have the solutions. Therefore, we do need to be very optimistic and put in the work because it's probably going to get a lot darker before it gets better. And if we're seeing any indication of what's going on, like it really seems

1:11:22and maybe you have a better grasp of this because you are a little older than I was Kent. But it really seems like we have never been more divided as a country here in the US. And that's probably going to spread even more until something really causes everyone to realize like it happened on 2001 like, oh, wait, why are we fighting over all this stuff? Like we are all Americans here, but everyone's so entrenched in their political views and their their ideologies that it is almost terrifying. Like what would be the cause to get everyone to kind of come back together and be like, look, we're Americans, let's actually work together because that's definitely what happened after 2001. It was very like, yes, we had the glory of the 90s ending, but I vividly remember after 2001, after 9-11 on 2001, it seemed like there was a very strong like pro-America unity that everyone woke up to the next day. It's like, yeah, we are in this together. Maybe it's just the classic

1:12:27you needed a common enemy to fight and therefore everyone unites over that. But now looking to where we currently are with everyone so divided and further everyone not really watching the same new sources, everyone kind of has their own truth. And it's like, what could be the thing to get everyone to really come to the table and work together? And I'm like, I feel like it have to be something even bigger than what happened in 9-11 and that's just kind of terrifying. It's like, can we even work together moving forward? Or is it a real civil war, like all the propaganda movies have that have been laid out in the last couple of years? It's like, man, I don't know. It is stark. It is kind of scary to think about the future. And sometimes you're like, I think it's over guys. I think it's completely over. But then you know, you know, you take a nap, you'd get a good foot. You're like, no, we're here. We're going to fight through this. We will figure this out.

1:13:27Yeah, I think that's the hallmark of the crisis moment from the fourth turning is that it's a point of indecision. We don't know. Right? And we have to live through that moment of not knowing if we're going to come out the other side as an intact unit. And I think it's normal to actually question it with the phase that we're in. And you know, there's a track record of us coming out, unified as a country on the other side. Right? See, there's a bit of faith that I think we have to have. But I do think there are powers of B right now that are intentionally trying to divide Americans. Like, even this thing that's going on with Clancy, right? Like, I'm looking around. I'm like, are there people that really back this woman or is that a siop just meant to divide men and women in the US? Right? Like, I don't know. I don't live there. But it certainly seems like if I was going to siop the American citizens and try to get them to fight one another, it seems like a great opportunity,

1:14:28like, go pay for a lot of women to show up supporting this lady and see the other side freak out. Right? It just seems like there's a lot of that. In fact, my thesis is that we get through this crisis assuming we do successfully. I think that we're going to look back at this time period and be like, oh, world were three was happening. It was just the spooks versus the, the populace. And well, multiple spooks. Yeah, it's a triangle. It's not like one side. It's like multiple spooks fighting each other. And we're over here on the triangulation. Yeah, exactly. And so, you know, we're the output of it. And so it's a weird place. I get why there's a lot of mental health issues going on right now. And I just say, hang in there. Find your faith. Hang on to Bitcoin. And we're going to ride the ride together and get out on the side. But it's it's a lame period to have to live through. Yeah. Well, I mean, to the idea of a, it being a

1:15:30sayop, I think it's just like a quintessential, you know, cultural Marxist dialectic here going on where at a certain point, maybe this is too deep of a combo on YouTube. So I'll try to not get too crazy. But it was for the longest time, you know, like the cultural Marxism was based on race. And now we're seeing it's kind of based on gender. And like, who knows what the next iteration of this will all be. But there is definitely forces at work right now to try to divide all of us. And again, I just don't know what we'll bring everyone back to the table here. But maybe, maybe somehow some way it will be Bitcoin. Maybe number go up will solve everything. Maybe maybe we end a little, a little hopeful here. Number go up will solve everything. It'll solve everything for us, maybe not for everyone else. But have faith. Opti, you go black. You go black. I mean, I'm not, I'm not, I'm not that black. I have faith in Americans. Me too. Oh, actually, classic classic Winston Churchill quote, like,

1:16:35I always have faith that the Americans will do the right thing after they have gotten done exhausting all other options. Yeah. Yeah. Now you actually brought up something that I wanted to say. It's let my mind, I forgot what I was watching, but I was watching something the other day. It was kind of like a political commentary, but it was talking about, you know, how when America was founded, when America found its independence, it was literally like a life or death situation. It was a moment that the odds of succeeding were damn near, you know, under 10% like the the US, you know, continental states, the militia of the US going up against the strongest military in the world, which was the British Navy. It seemed unwinnable. It seemed like a, you know, exercise in futility. And yet the American spirit was born out of that. That no matter the odds, like we're going to win. So I agree with you, Kent. All right. We went from black pilling to

1:17:38white pilling. And I know you got to go right now. So Kent, thank you so much for coming on this show. Anything you want to plug, maybe we haven't really even talked about sad mining today, really. So do you want to do the last minute plug or what? Actually, we'll do this. Final words to the audience. Kent, the floor is yours. Final words to the audiences. Yeah. I have faith. All right. I think on after that whole conversation, we've been here before, our ancestors have have fought greater battles than we are fighting and survived and kept the American dream alive. So if you're an American, part of that, and I keep the faith and keep doing the right thing, and that's going to eventually lead to the other side. And a good spot. As far as sad mining is concerned, you know, what I'm passionate about is getting people back to producing their own Bitcoin, the way Satoshi design the network. And I'm competing with the exchanges for your business. So if you're out there stacking sats, give us a look. I think it's a better experience to acquire them through production. And you get them at a better price, especially right now,

1:18:43than you will in the future. So, you know, my DMs are open on Twitter. Reach out to me at K. Halliburton or go hit up our website, satsmining.com. We've got agents available to talk to you right away. And thanks, Opti, wonderful conversation. The audience here, I think, is part of that contingent of people that is the intolerant minority that is what historically has helped the US succeed in these crisis moments. And I think, you know, don't look around to somebody else to help solve the problem. Get out there and help make it happen yourself. And I think all the chatter online is a lot less important than the action that happens in your in your homes and communities. So do the right thing and we'll get there. I know you have to rant, run off, but I've been building this rant in my head. I'm like, guys, look, I know we're all on social media and everyone's got a voice now. But let's all

1:19:43start building something like if you're here now, you, I think you're smart enough to build something. Obviously, it's hard to come up with the idea, but I think every one of us, that is a big corner that that does show up should do a little more than just, you know, shit talking on Twitter. But you know, hey, am I doing that much more? I'm just shit talking on YouTube. So like, you know, it is, it is what it is. But let's build, guys, we're building, we are ascending in 2026. There's still what? Three months left in the in this year. We got to make sure we have ascended in 2026. Anyways, Kent, thank you so much for coming on the show. I know you do have to run right now. So let me wrap this up and we will roll out the week. Guys, so hey, guys, we made it another week. All right, we made it another week. Oh, wait, actually dang. Yo, they would have got so mad at me. I do have to plug our boys over at

1:20:43Bitcoin. Well, go to Bitcoin well dot com slash simply Bitcoin scan the QR code here. Let me pull off Kent. So you're not just staring there by real Bitcoin, guys. I know Kent said he's competing with the exchanges, but hey, maybe you don't want to mine Bitcoin. So you just want to go to the exchange. Well, make sure you use Bitcoin well because it's the only exchange in North America that is self custody by default, which means you need a Bitcoin wallet to use it. And if you don't have a Bitcoin wallet, maybe you want to use rumble wallet. This is a paid ad from rumble, but they just added something interesting over there, guys. So you know, I talk with you guys in the chat, right? We're in the chat. But if you want to get my attention, we're trying to do something with rumble. I guess they just launched rant on rumble. So you'll send a, you know, a tip with rant. And I will highlight them on the show and we will communicate about what you

1:21:47want. So if you want some hot takes, you got to ask questions stuff. You really want me to react. Obviously, I react to you guys in the chat. But if you want me to react to it live on the show, use the rumble rant featured through the rumble wallet. It's also a free mobile wallet on your phone. And if you use the promo code simply 10, they aren't giving you $10. It is in US stable coin, guys, but hey, you can send it to me and Bitcoin. You can send it to your friends and Bitcoin. All right, guys. So we are using the rumble rant feature now, guys. I will be, you know, watching it. If you know anything about me, I am notoriously bad at responding to DMs and messages. So we're going to see if this works out. If I can respond to rumble rants through the rumble wallet on the show, maybe I do a little feature at the end of the show about right now, where we enter some of the rumble rant questions. So again, use the link in the description or go to

1:22:50rumble or sorry, wallet.rumble.com slash simply Bitcoin, I believe it is, use the promo code simply 10 and start using the rumble wallet. And let's see if we can get this rumble rants thing to go on. Although, guys, guys, I am going to have to ask you to let's get those rumble rants somewhat PG. So I can actually show them on YouTube. All right. So I'm not saying censor them. I'm just saying let's keep it family friendly. All right. Let's keep it family friendly. All right, guys. Have a good weekend. I hope you guys do something productive. Get outside, get a workout in, you know, cook a steak, chill out, recharge for next week. Actually, real alpha guys. I don't mean to be this guy, but I just started the the mouth tape sleeping. I've been sleeping like a baby. I feel so much better right now. You know, all that burnout that I've been feeling last

1:23:51couple of days, dude, I'm like happy. I realize I wake up like a grump because I don't think I'm sleeping good. So highly recommended. All right. I'm not sponsored by any maltape people, but buy some Bitcoin, store your Bitcoin, take it off the exchanges, have a good weekend. I love every single person that's ever hung out with us until Monday. Peace out. This episode of Simply Bitcoin Live was brought to you by Letton. Don't sell your Bitcoin, get a Bitcoin backbone at letton.io.