THE FIRST BITCOIN ELECTION | RABBIT HOLE RECAP #330
53:11 Share

Suffer such a boy's money here to introduce this rip of rabid hole recap was brought you by good friends. Add unchained. Unchained is here to help you Better secure bitcoin, to make IT easier for you to buy bitcoin, to offer you financial services on top of your bitcoin.

Everything at on shame revolves around two or three multiple g collaborate custody, even ira product, which historically has had a fee associated with IT. But they ran a campaign earlier this year. IT was massively successful.

They've officially dropped their fee to twenty one cents. So if you want to transition your iron ray from a traditional array into bitcoin, you can do so very easily. We unchained and very cheaply, twenty one cents.

Go check that out to unchained 点 com and use the code R， H, R at. Check out for any other services with a that's concierge on boarding or anything else they're offering. You get fit dollars off that service or product.

Israel was also brought, you buy a good friend at queen. Queen kate builds the best hardware in the bitcoin space of your watching the video, you can see this nice beautiful block lock behind me, but they also have the cold card mark for which is a hard ward device. It's got two secure elements.

Um it's the best way to create private public key pairs in an area gapt way offline. They all had the cold card q update on. The cold card q comes in many different colors.

So you know just need the the plain plastic seat through. They've got many different colors. Now they also have a new retailer, what we call this the product or a program that if you want to resell cold cards, that really streamline the process.

So got a Green kite dot com, check out all the products with the blocks, ck, a cold card, a queue, sad card, tap sider that got at all. Who in kite document still don't know forever? A they're try R H R, try IT and see what you get off.

Last one, at least this IT was brought you. Where are good friends at stack ork? Stack ork is a cloud sourcing platform that combine the power of humans in A I.

If you have, listen to us, discuss simple proof, digital witness and how they secure the automobile on election on the show stack ork. And they are distributed cloud sourcing, seeing workforce helped secure that watermelon election. Right now they're looking for mobile developers.

So if you are looking for a job in the big coin space is not only at the cutting at a big coin, but also A I hit up stack work of their careers page, find that you're looking for swift and cotton in mobile, debs, right now. So if you're swifter, a cotton developer looking for a job in the space, looking to be on the cutting edge, go hit up stack ork and can go their website, its stack ork at S T A K W W O R K dot A. I enjoy this for IT OK.

You've had a dynamic where money become freer than free. Let me talk about a fed just gone that all, all the central banks going nuts. So it's all acting like safe haven. I believe that in a world .

where central bankers are tripping over themselves to do by their currency, bitcoin wins. In the world .

of fiat currencies, bitcoin is the Victor. I mean, that's part of the bulcke for bitcoin. If not, pay attention, you probably should be, probably should be.

probably should be, probably be. This might actually be alive this time.

Looks like at least IT showed .

something up on youtube. We're yeah your life technical difficulties, africans dog. Our our software .

was updated between live streams, but we made IT pretty sure I was just going bull run .

rabid recap is back like .

smoking go it's .

arrives in IT IT IT is what a week, the time to be life just got lunched with the ryan genti from late labs. Fibers are high here in Austin discussing the events of the week, the potential for the future. We first went live is like once the road coming, are we getting around? Feels like get to pinch yourself, too much winning, too short of, too short about.

Time do do you know what I need to upset?

And now the first big .

coin election and really feels like it's the first big in election, the first many.

IT was pretty .

crazy like you didn't have to watch cna york times. Any prediction markets, anything are you going to do was watch the bacon Price. And as soon as it's just back and started running like bitrate coin called the election first.

IT really did. He ran up to seventy one, and like a half an hour later around seventy two, and then like an hour later around at seventy five, new all time.

Was that was the confidence rating, right? Just like pricing IT in, I mean, you have to think about like nothing. So like right now, i'm in i'm in brazil.

I was just up at the coast and Jerry, which is fucking beautiful. There's a bitcoin circular economy up there. And about forty minutes before the show, I landed in soup alo sad through sap oo traffic.

You know it's one of the largest cities in the world. This is the largest city in south america. There's over twenty million people here. Um I can crazy huge city. And then I got into the, then I got into the hotel to to rip the show because I care about you freak and is important that we have R H R every week.

But my point is I saw I was at a bar and Jerry on the street in this nicer of beach town um later because this times of like two hours in the future and no other markets are open, it's literally the only market in the world that trades twenty four, seven, three, sixty five is big in I every all eyes on the us. election. And the only place that people can Price that in is bitcoin.

And we washed to happen in real time. I never I none of the other elections I had bitcoin like reached this level. And obviously, bitcoin is a major political talking point and in this in this particular run. But I think going forward, just in general, this idea of bitcoin as this macros amount is, is going to become more and more obvious to people.

Yeah I mean, it's very obviously now then. Big news of the week, U. S.

Election down on trump, forty seven president. I think many people, the mainstream was ugly, shocked that he won. Not only that he won, but the style in which he won.

When the electoral college won the popular vote, republicans have the house and the senate. Uh, many are saying, I think gratefully so he has a Mandate to um push through the policies that he campaigned on. That is the signal that american citizens sent at the polls this week.

And bitcoin is part of that campaign. And I think that's getting Priced right now. I could not be more astonished, was cautiously optimistic that he was going to win.

I thought we would be counting boats until next week. I think the the speed in the verot's ity with which um the election results came in was stunning to most people. And yeah we stand here today with A A president who has said anyone still require a strategic picture in reserve. He's got the means to do that rather rather easily if he wants to um with republicans controlling the the house in the senate and we are an open water bitcoin Price territory right now.

Fuck and love up the water bitcoin. I am. Look, I don't think many people thought that IT would be such a dominant Victory.

Um but if you are shocked, if you are shocked by the outcome like you after just really self about you your like like where you get your information from um but um I mean, i'm glad the election happened and IT wasn't cancelled. I I hate mari. I I hate marty with an invoice. I like to cancel that.

And hey, freak, I want you to know too. Forgot that we doubled up at one point. I asking the another.

Martin deserves all the cut in the world. They actually sent to an invoice for half the amount that he owed me and he reminded me that we double down. Um but yeah I mean so is so much i've been in argentina argue paraguay ah and then multiple areas of brazil like IT what as you and then I went up to Jerry and then we came down here to sept.

Up for sad. So a lot of flights, a lot of bad reception is IT is IT house is house and center. I know the senate when republicans house too.

right?

Yeah so popular electoral vote house and senate like I mean it's a clear Mandate was a very obvious IT became like very obvious and the concession happened relatively quickly. Um so we will see, I hope he apple his campaign promises most single most important promise is raw. He's he's expecting to be free. Would fuck and devastate me if he gets rugged, but no matter how you cut besides, I think IT, even if he fulfills no promises, I mean, I don't think I could be more bullish on backline like this is I imagine, not only big one right now.

I feel I I could tell you about my haircut today had a child I go to may I go to barber? Because I didn't have the car. He's a little bit far away.

So went to my back up and I tip, turned bitcoin daughter, had to get on, get on biton to cash up, share cash up. And SHE was asked me, he is a great way. Put my money.

Have got money. My dads told me, put north, rather our egg at invested. So just put in .

bicky stable stax sets. yeah.

IT thus feel where I mean, just comment on the election. And I think for any not americans listening in, I think many people in europe were surprised by the selection. I think the european listeners in the show were very surprised, but it's making me extremely optimistic, if only for the fact that people woke him up, that amErica was on a pretty bad path towards socialism and the government introduction, citing itself in individual's lives and not saying that would happen to any extent moving forward. I think that is the clear message is going out there in trump s campaign on making the government smaller, making a more efficient and freeing the economy from from over regulation, which something i'm hopeful for, like mad said, I think the first big signal will get of campaign promises are being delivered in, acted upon, will be ross. I expect to see him day one commuted, and if not, the scepticism will begin to rise.

Do you realize that we are a one of the only major countries that has like a three months period between government such over after election, like in the U. K. They have their election.

And then just like, boom, one guy moves out, the other guy moves in. IT should be a very interesting, like basically this three month period, like if you go by bitcoin cycles, right? Like bitcoin is definite more from micros right now.

But if you go by bitcoin cycles this three months period post having at this time of year is when bitcoin tends to get over biggest purchasing power gains, Price gains. And then meanwhile, it's the sitting duck period. It's like this like limbo area, the land.

Doctor d yeah, it's kind of crazy. I mean, it's it's like to me, it's pretty antiquated, like it's a kind of insane concept when especially when you compared to the rest of the world, but see how this plays out. So in terms of like promises and not we won't even .

know until he is moving the I mean, we've heard rumblings to the great vine that people are being tapped on the shoulder um within the industry to figure out who should be position where to craft policy as IT retains the big coin. Big announcement yesterday was that um red Thomas macy will had, I believe, the department of agriculture and he's already reached out to joe salton, the returned farmer to to head the U S, D A. That's like public now.

So that seems like behind the scenes they're developing their team. And that was one of the things I don't know if you guys we're watching in S. B. C. In brazil on election night.

but I stayed up away. I TV like I said, the Price we are just getting. Um, I was, I was, actually, I was. I got an all time high notification strike. And leashed man was sitting next to me, and he sent out the all time high notification on riber.

Were we had .

coconut ts in front of us. We had coconut ts and drink in front of us. That was, that was my election day.

It's not a bad election day. It's not a bad crew. The but I was watching up assembly to back in some sheldon fruit.

And one of the things they mentioned on the late night coverage of the election was the fact that the trump campaign is not coordinating with the White house transition teams that incoming or even like before you know that you're in coming, you be talking with this, quote, coal transition team to figure this out. Apparently they've stoned world, the transition team trump learning lessons from twenty sixteen and like no can do IT ourselves. And I think they're signals out there that they're moving rather quickly.

And I think the outcome of this election also proves that is highly likely that there was some fragment activity in the twenty twenty election. And I would make the argument the issue just start getting to work now because. Biden isn't all there.

Kala hera is completely dejected. Obviously, nothing's going to get done. We got a lot to get done.

That's what right in genre. And I were just discussing at lunch I like I think, a big question in the mind. Big nars um the strategic reserve bill has been crafted.

How long does IT take to get through the house, get signed into a law? And I think this lame duck period plays into our favor because I have been no president trump is a man um who like winning. And if bitcoin goes up the way IT has in previous cycles during this lame duck period, you could get him in augment.

He's like why on't we buying big coin yet? And things just get expert ted through the house and true can senate in land's desk. I would not be surprised we have a strategic between reserve signed by june at next year.

You want bed?

I did. I do like this bed.

Uh, june first for next year.

jue. Thirty, end of end of q two.

Okay, june, fifteen hundred thousand sites.

Let's make IT too.

too. You want you turn to win back. You turn to win back the .

election. Sic OK. D I love.

No, you're not getting ods. okay? Do you want odds?

I don't.

You're not getting odds. Two hundred thousand sites book at freeze. I love these types of bets because they're great hedge bets.

I come all in bitcoin. So if there's because their weapons, I pay your two hundred thousand sites and i'll be having a very good day. I I will just reiterate one more time that IT rubs me the wrong way. That IT ceded with bit for nexus, stolen by coin like I meet you to the big winners .

out there .

that maybe are talking to the term policy teams. Um IT would be IT would be wonderful to see something on the books that says sees bitcoin is provably burnt rather than held on to. So there's not a direct incentive to cease people's bitcoin.

And in the case, a bit for next, a bitcoin like that should be returned. They got hack and then they sees different actor. Yeah um but yeah ah that .

I mean, let's. Suck about the game theory building on the strategy gic reserve bill and let's run with the assumption that IT doesn't signed. How does this change the dynamic of the bitcoin market?

I mean, I think that I think that happens. The question is a timing thing, right? And from what I hear you trump on some of fast and a lot of things too, like keep, I mean, four years goes by very quickly.

So but but .

nothing moves fast. You know everything, everything takes time. So I will see. But I mean, look, the thesis is pretty simple, right? Is I think every individual, every company in every government uh will realize eventually that uh the ultimate goal of a productive individual uh, individual, company or government is accumulated much bitcoin as possible.

Uh so that stands to reason that pretty much every functions and government will have a strategic bitcoin reserve at some time and every profitable company will have one and every productive individual will have one. The U. S. Obviously, as the world's reserve currency is a particularly big would be a particularly big signal, I think, to the rest of the world that they should get their shit together and started.

yeah. I recorded episode of T, F, T, C yesterday with a past ale wae from a switzerland, and we got on this conversation. I think it's a good that experiment to have here. And I will apprehended to say this because last cycle sword proved .

to be freeze.

proved to be a bit, bit early and was pushed mind people that destroyed the market for a couple years. Super cycle.

It's not a fuck super style money. I think you're going to say, I think you're going to say the institutions are coming .

is still here.

That's well, I mean, the guy you said I got fucked in rack on block fire. Tried to turn IT around with his new book, how to live in extraordinary life.

I think for the overall living. Sure, our lives right now.

the market is not a super ycl. You think to be a super cycle, you think, no.

Eighty five. Correction, let's walk through the multivariate um situation that we find ourselves in right now. Should teach reserve on on the docket for the united states that missive signal out .

sixteen years and now .

sixteen years from between being live in production in a few months, sixteen years and White paper a couple weeks ago.

Start from a brand .

awareness perspective. Sixteen years in marketing, you talk about how many touch points take to convert an individual into a customer, a user, whatever IT may be. How many touch points have a critical massive individual's had with bitcoin to convert to users this cycle? I think you consider all amount that a certain amount of supply that comes off the market. But I think one dynamic that exists this time around that is never existed is now these desperate demand drivers that are pulling a button on a supply off the market and holding IT for the long term.

So microscope is a great example that been doing IT for the last four years, but seems like many other companies are looking at what microscope has done in terms of the value of their company, in the value they delivered to shareholders by implementing that strategy. And there are others are looking to do that. Microsoft, we talked about last week, announced they plan on buying forty two billion dollars with the big coin over the next five years.

So and they're not selling any of IT. So you have U S. Government explicit in the strategic reserve building. We're going by the coin and hold IT for at least twenty years. They want to get a million .

as a million bitcoin.

A million bitcoin. Twenty years .

going .

be um it's going again. There are going by what five hundred day or something like that, five years. And then I mean, we see this on ten thirty one side.

I think this is the cycle, and I said this on the bit in frontier pocket that released this week. I think big when a super clatter al um really becomes a theme this cycle. Debian y getting into the market um on change, doing what they are doing.

Companies like battery finance with thirty one portfolio bit batteries specifically that use case, if that takes often hit escape velocity there literally restructuring and refinancing structure credit in putting bitcoin as collateral into these credit products that have durations of ten to thirty years. That's in the malicious that comes off externally outside of all the demand and supply factors within bitcoin. You have the sothern deck crisis, even though trumped is president is not going away.

We'll see if they can effectively cut cost and this mental the bureaucratic state that's really driving the expansion of that, that but regardless, we still have thirty six trillion dollars for the that, that needs to get paid back. A lot of that is rolling over at higher interest rates right now. Um if you look at the slope curve on that chart, IT is getting steeper and steeper.

So the APP said the multivariate energy just laid out like you have time leading to convert people, you have new massive pools of liquidity pulling supply off and explicitly ly saying we're going to keep IT off the market for longer than a decade. You had the southern debt crisis, which isn't going away. Supercycle might be in play.

This is might be in play or you you're the calling IT or not calling IT.

No, I am trying .

to get the benefit without you know that doesn't en um .

get first .

of all, first of all not to live chat R H R R T V I stream shared to the right dise sad gave us twenty one thousand s map. Twenty one. Give us one thousand sets, just twenty one thousand sets, polis, just twenty one thousand sets, and public human among this trip, with also up just twenty one thousand sites.

We just full on playing with him. And then we disperse to our different hotel rooms. Thank you for export supporting the show.

I love you guys. And we can we got we come here because we care about you to thank you. Um super cycle. okay. So let's talk about let's talk a little bit about a truly free market that is bitcoin pricing in you know during an an adoption cycle of of the most scarcest asset we've ever seen, right? So obviously you know history doesn't s exactly repeat, but IT tends to tends to rim um and bitcoin does have this natural having signal scenario.

And I also think that in truly free markets without without sensitized control, there just is inherently there's inherently more volatility because humans are nature volatile beings. So obviously quickly now as material doesn't asset, right? So if you compare previous cycles to this cycle, we have um the etf happened in january.

And as a result, we increase in Price probably wait way quicker than we would have otherwise, right? Because a whole new group of of individuals had exposure to bitcoin, and we've seen the etf just absolutely gobble up bitcoin because people are buying in their shares. Um so that that is obviously one change. Now governments entering the picture, particularly the trumpet administration being very favorable towards bitcoin, and let's be on the greater cypher, is obviously another change that we haven't seen in the past. The third change, I mean, eric trump was retweet Michael salary yesterday like we have never seen the sound .

of a president like retweet code tweet more than .

more important for than a retweet exact if you say so um it's obviously a change in modern sentiment, particularly with the future leadership of america. Um and then the third piece uh is we are seeing um a greater at this point in the cycle. There's a greater separation between bitcoin and everything else.

A theory um is doing like eighty percent in bakin terms is fifty percent down from us all time high in dollar terms. Ah we haven't seen that kind of separation. You know I was at a bit confident argentina earlier. Ah that is A A more crypto focused event.

It's not bitcoin specific and vibes were good, but vives were not like how how high you would think they would be, right? But I imagine a asm tomorrow, which is the largest bitcoin conference uh, in south amErica like biton only conference in south amErica is going to be fucking in saying, right so there's definite separation there. Um so and then all that combined also last cycle.

I really do think that the degeneracy of F T X, the degeneracy of sales is the degeneracy a barry sobering, a dampened the height that we saw on the last cycle and increase the low. Uh, you know we went lower than we would have both on the highs and on the laws in that cycle. So this one, you know, maybe we go higher than we would have otherwise um is the backend maybe we go higher than we would otherwise, but i'm not make any Price predictions as a cycle.

I stay human tax ad freak. I've never made a Price prediction at a Price higher than where we are currently, but I still think there will be at some point, the genes will get called up and bullshit, and this time there will be a new breed of the genes. It'll be like nation states and suits. But we really had a taste of suit. I generally last last cycle, and we will have an eighty five percent dish correction at some point. Now the question is how high do you go first and then where does that low satellite? And I think however you cut IT, staying humble and stacking sets is is the way to proceed here like there's no there no Better strategy in place um and just try and you know build a long term, save long term in micon, like for your for your family sake.

I don't know.

I can't believe you. We're so early in the cycle. You're early calling for super cycle and disappoint you, marty.

It's onna happen when people we suspect and you can see my natural apprehension to even utter the phrase and put the idea out there because I think many people are. Behold into the idea that we're going to have these four year cycles at some point, four year cycles go away. Think I A advance to the many expect that's by controling take it's .

a bullish control take no. I think what happens is. Maybe, but I I think what happens generally speaking is bittern purchasing ing power increases with adoption and volatility decreases with adoption. But ultimately so like at some point, bitcoin will find this place where is the most stable asset in the world but increases with with human flourishing, like increases with GDP or how everyone to measured I mean we'll measured IT and basically in power like bitcoin will be the therm that measures at all um but I will continue IT, IT, IT, continue to accrete purchasing power with that. But the volatility will the actual volatility will decreases with adoption as well.

Um I think the four years cycles to as that is going on might still play a part, I mean, but that amount could decrease, right? But you still have like this supply shock. You still have this supply shock every time having happens.

Now the question is the people start pricing in because no one's right even up into this point, like I feel like having are never properly pretend. Um so I see you please up. But do you have to realize to like even at that like fully fully mature state where. You almost every person in the world is touching bitcoin on a constant basis. Bitcoin will respond to macro situations right in in a in a macro liquidity crisis, bitcoin will be .

the asset that .

is sold. So I guess in that situation, they have basically, I guess, I guess I agree with you that the havings will become less relevant, like that four years cycle would become less than less relevant because what would become relevant would be like a global recession, or like would become way more relevant than the having cycles would be like a global recession or a global war, or, you know, like aliens invading us, or sun blowing up or some shit.

The boys t yeah mean.

some people would be probably, but IT depends when the sun actually doesn't blow up. But you're clearly not reading enough science fiction.

I mean, really some blows up eventually in a super no. I think it's anytime soon. Yeah then I mean, the type is get nerdy with the two like anchoring back the last cycle of look at the degen's who created that over leverage situation. That's well, yes, I think these market dynamics are a different um people this cycle. Most people, they are taking out big coin to use IT as leverage.

Like I said earlier, I think we're going to begin to see that practice instead of historically what it's been as you take the bitcoin, then you go bed on chick coin, which are extremely illiquid in mobile tile than big coin like bitcoin being leveraged. Moving forward, I think the trend will begin to favor like using bitcoin as clad at all for credit products that touched the feet world and have much less of a risk profile compared to going in bedding with sick wins. And then in those structured products like the companies taking that bitcoin risk have alternative revenue streams aren't completely hitch to the bitcoin broadcast pto economy.

And so the chance of them blowing up maybe is a bit decreased. Um the etf, I think really accelerate that trend too because historically you've had this over speculation in broadcast pto because you get your big coin, you said IT to exchange. You convert IT to another chick win that you wanna speculate on that every avenue simply does not exist.

Be the etf, which people are preda funny in tobaco in through the cycle. Um no, china say the dynamics you consider the monitor big wins of IT around the different types of demand drivers that that block supply up for long period of time, the inability to easily go speculate on a broader trip to view the etf, I don't know, just bit different bit different nation states obviously too. I mean.

what you're saying is that there won't be any to generate this cycle. No.

i'm not saying that. I'm saying the degeneration can be way less systemic that IT has been historically especially is like a tear point about bitcoin being the first to be so as another thing the factor and like we ten nex from here with the liquidity profile, bitcoin is over tendering dollars and yes, many people may sell bitcoin um when things get Harry, whether this recession war, whatever IT may be, but the liquidity, the market will be in water manage to harder to me higher and the potential effect on praise could be lesson like eighty five percent, probably not fifteen percent. Baby, just let me be for a little bit. Look, i'm down.

That sounds looking looking awesome. Um I think I think this suits probably .

have .

something in store for us that I can even like comprehend how much the generaly was required to make that happen like I don't even know um I don't pretend to know like what how they will blow up um but people bital intends to humble people in my history in bitcoin is not like a option of whether or not you stay humble. It's if you you either humble or you get a humbled by bitcoin. Um and uh bit one tends to be A A tRicky beast uh in that way. What are you looking up right now as martis up today?

Yeah.

is there a new version has a dels APP today? Yeah, there's a new version.

It's it's been it's not firewater anymore.

A deal is that today? Martin en is is not that today. Oh, that's wonderful. I mean, is that every day so they could just hard code that in would be similar code.

The site's broken and I was said today.

but I just want to pull the back a little bit because obviously we're in in for the tech the this trip. So this trip, uh, was LED by the human rights foundation, a bunch of our guests to the human rights foundation. And the idea was to travel on the ground throughout south amErica to see how bitcoin was being used.

And so last last week, I mentioned that we went to the queue in banos, and that's the black markets money exchange in venosa. And I had a freak asked me what that was like, and I was intentionally a little bit way until I actually left the country. But just to explain, like you like go into well, i'm sure there's different versions, but the version we went into is, uh, we had a contact that let them know we were coming.

We showed up, uh, IT was only a few of us. We showed up uh, to an office building. You go up to you. You let security know that you it's just like looks like a regular office building. You let security now security definitely knows who those like what they're doing up there, like they're definitely on IT, then you go up to the floor and then at that point, there's like cameras fucking everywhere and IT was just very professionalized. IT was like IT was like a legit um like like clearly, they had been doing IT for a while and they knew what they were doing.

And to meet like I really opened up to me like how much like in places in the world where you really, really need bitcoin, there's a lot of sophisticated ways that people figure out how to get around that. And it's like very much like an iron sharpens iron thing. So then we also went uh, to a big coin mining site that was in south amErica that was incredibly impressive.

Uh, I I was blown away by their sophistication. They were in the middle of fucking nowhere. They prepare their own asic.

They repair up up to thirty eight six, up to thirty eight six a day, like twenty to thirty eight six day. They are repairing on site because there in the middle nowhere. So they they can outsource IT.

And everyone there is was was trained in house, in country to make that happen. Uh, and they had all the different types of minors in that air cold, hydro cold, emersion cold um in crazy panels, you know, showing everything that was happening. He was really, really impressive.

And then we went up to Jerry, uh which is like in the middle of nowhere brazilians fucking huge country, great people, a huge country. Um and there is a big queen community center up there on this in this beach town, this beautiful, gorgeous beach town that is incredibly hard to reach and children there we're learning how to use bitcoin. There were stack SAT shirts like that.

The standard like using lightning. A different merchants over there are using where are using lightning and IT just makes me incredibly optimistic that um obviously in an idea of world we would like to like to see governments and every other institution we rely on a work with more efficiency and morality. H but even if they don't h, the people tend to find a way and that there's there's A A lot of empoyer with these tools and it's quite inspiring.

And I you know bright after this show, i'm to go me to a bunch of people in the soup wer. They are going in community and i'm quite excited about IT. Very polish.

so bullish and i'm jealous that are not able to be on this trip with even sending me pictures with some reference. okay. With that, another bullish story, probably the first bullish report from the financial freedom news letter that hf puts out there this week, coming from the B. I S, the bank of international settlements, the bank of all banks.

IT departs at CBDC project enbridge, the bank of international settlements has stepped away from project em bridge, a global central bank digital currency platform between the central bank of china's di abia the united emerge hongkong in thailand project ambridge aims to improve cross border transactions using CBD cas back by national banks. The bias is departure from the project comes that made rising concerns that the country's running IT could abuse the platform. Considering the involved of authoritarian regimes, IT is questionable why the bis was involved in the first place, given the growing recognition of the threats CBD c posed to financial freedom and democracy. With the departure of the B I, S, enbridge remains in the hands of china, which will lead the project's technological development in the bank of all banks. Stepping back from central bank digital currency project. And another thing that ryan and I were we're talking about at lunch, he's been following like the brick's currency and he's telling me I didn't pick this up but apparently like one of the latest bricks um meetings russia, pakistan, we're talking about how um you're gonna do like barter trade for weeden swayings, whatever they were trying to figure out how to Price that's like these countries are not going to be able to coordinate is for us to C B dc or a bricks cockup ck on the world IT like to think I think we able to organized, agree, build and launch a suitable project. I think very nive in that plays strongly the Bakery's favor yeah .

man wasn't a big queen standard. We're just in the early chapters of the book ai. I mean I think regardless of what governments decide, people will reject C B dc s if they have a Better option um that option being bitcoin.

Uh so maybe some find success short term, the long term ah there they are pretty much doom to fail in the in the marketplace. Why would you use A C B dc over a backin? Now I think people should be cautious.

I am when I say people, I mean us I think backward should be cautious that I think there is a success scenario. Um probably the most likely success scenario for a bitcoin is that IT becomes the reserve currency, the world. But maybe only five percent, ten percent are using in as free of money. And in that situation, I think the movement is failed.

And so what you see in that type of situation is you see, you know kind of microsoft strategy, right embrace, extend, extinguish microsoft strategy with open source um where you you try and basically use bitcoin as much like A C B dc as possible, like you still can't debates the currency but you can control and survey IT. And I think a private example of what we of that recently is a the U M. A standard being pushed by lights, Spark for instance.

Um it's effectively trying to add at a compliance later and protocol zed um to quote comply with the travel rule, right so where the receiver in the center or sending effectively ky c information between each other and it's being conflicted with the greater lightning network. But if IT was to be successful, IT would effectively, by ferri ate the network, you would have like freedom lighting network, you would have the open interpreter able lighting network and then you would have um this U R A compliance standard. And I think we need to be very cautious about this big corners.

Finally, in in bull markets, we tend to get really Carried away and excited. And I enjoyed IT as much as as the rest of like do not get me wrong, anyone has been listening to the show enough knows that the case um but we have to be very cautious. And there there are definitely many big corners around us that are not necessarily in IT for the freedom and and will make very big compromises and particularly in administration that is very seems very bitcoin and coral cyp to focus in the trumpet administration and wants to move very fast.

Um there's a lot of room for bad policy and. You know regulating motes being created and over compliance being created and surveilLance systems being created. So I think we need to be very cautious there. Um cautious .

is the word and .

and proactive .

is the word. Get out there. Make sure that you're using this technology teaching others how to use IT particularly we are going like into this bull market.

I think that'll be another god probably i'll say i'll be bold also. I mean, merchant adoption was a big team in the twenty fourteen and two thousand sixteen. Na never materialized because bichon really wasn't there yet.

I could see the Price is a merchant adoption being a theme that actually get some legs this time around. And I think it'll be important to teach merchants how to use something like exact right, which allows you easily connect walls, you control particular leave your receiving larger amount of bitcoin. The larger payments in bacai examination makes a very easy to create invoicing software that pulls next verb from a while you control to receive money. I think bad is one of the lowest hanging fruits we can do. Merchants adopting bitcoin that receive relatively large payments, receiving hunch ambit coins while to the catch l, that's it's A A goal that we should try for this cycle as people are on boarding.

One hundred percent. I mean, I think all this stuff just takes time, right? So um there should always be more merchant adoption.

There was yesterday, but the question is timing. I think that there should always be more self custody. Self custody is a secure biquet usage private bitcoin usage freedom focus bitcoin usage.

But I think we just can we can take our take our foot off the gas. I think now more than ever, I think I think book coin is. More or less inevitable at this point, like I think we pretty much past the point of no return, but bitcoins mass you as freedom. Money is not. And I think it's it's more important than I wrote to, to have a strawy focus on that and push ball forward.

Agreed with that. I know you got a jump here into two minutes will read the top four boost from abbado rca three twenty nine and the fed ramper back in the conversation lets go serb coin fifty thousand sats chain do in brazil at sats conf compete for sats in the lighting and oster naib video again can play the tournaments on the eighth at one forty five and three forty five pm for a chance to win one million sets follow channel on aster for more info at toxic big winner twenty two thousand and sets beware frees for sale fractal ency pt infinity day private key number twenty of twenty one on scarce start city other key holders include Michael sailor erik White guy swan tua sterlet in nut spent home one percent other proceed will be donated to the open sets general fund got a scarce start city for listing details mendous les than bachelor's standard and there's a link to the scarcity marketplace if you want to a go um actually I I got to do is what we do HTTPS semi backlash backslash scare start city slash marketplace slash physical slash bice's dash infinity death day dash private dash key das twenty thousand twenty one dash made dash by das fractal script. That's the ural, john.

Fact, egypt is is a fuck in legend. This is one of the best background artists we have in the space. By the way, someone in the nasty b chat is not telling me what their name is, but he mentioned money that you look absolutely act. And I would say that you've you've been crushing IT uh with your with your workout and a health regime, your your literate .

so I think I did the chest in shoulder and plated right .

now looks good.

I'm trying to i'm trying to get to like N, F, L, combine two, twenty five, twenty times of getting close.

You no way you're getting close that .

yeah I might like fifteen right now.

How two, twenty many times? I think you might like nfl. Combine level.

I would combine level.

I know, but I would donate. Is there like a place where you can do a nfl combine, like a full nfl combine, as like, like a tourist I wana .

be surprised with. But Price goes up. I'm sure we can pay for IT.

I I would say that I, I, I would donate to charity to, I would donate resource developers to see that.

Let's do IT and I have any leggings to my left me either. I don't know how would do like on the on the current shadow ajang gordon, twenty one thousand sats. Bullish on freedom tech, bullish on argentina.

Bullishness on bitcoin. Bring a where a to the U. S. government. Stay humble. And stack sets A A great .

to last for at least.

User, two eight zero six six to six, two twenty thousand sets. Lady listener, here we got the lady listener. Thank you for listening. ladies. We bring the sultry bitcoin news to your weekend and week out.

Ah hi mom.

Is that your mom? No, but should probably be listening to this are .

your mom lessons is wonderful. Woman, I can't believe you have denigrated our lady, listening s like that.

I did not.

didn't really didn't exist. I think I think we have the most female listeners of a male hosted bitcoin podcast.

Great ladies, let's pump the numbers. Go tell your friends.

Yes, we have printing stacks in the not she's an L.

J.

She's a rather that.

Ladies, go tell your friends they need, they need to get the bitcoin news to. I'm excited, cautiously optimistic, stay vigilant, stay proactive, hold people accountable, and we're all excited right now. The prospect of a Better future seems to be there, but accountability is very important need to hold our leaders accountable. And so I think that's temper your optimism, which is through the roof for me personally, pretty sure you guys can tell. With vigiLance and the um the drive to hold people accountable when things transition next year.

Read the mendous stamp tax .

apps piece love.