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Bitcoin Community and Fighters00:15:22
Tim Dylan, Let's hear it for Tim.
Yeah, yeah, yeah, does this work?
Yeah, that's the kind of welcome I love.
We got a great paddle.
Everybody stick around you ready.
Want to announce everybody rolling.
Uh, Tyler and Cameron Winkleboss run with Gemini CAMP.
Tyler and Cameron Winkleboss everybody, They are here with us.
Grab some seats.
And Jake Paul, Jake Paul, everybody.
Thank you, everybody Go, let's go, let's go, Yeah, it's okay just sit down Yeah everybody and Elon Musk No I'm kidding wouldn't that be good?
You'd kill him if we brought him in here.
You'd kill him.
I know you animals would murder that man All right Good to be here.
Are you guys excited about whatever just happened with El Salvador?
How exciting is that?
I don't know what happened but something if the apparently if you don't own Bitcoin in El Salvador they're gonna kill you and that's good.
I don't know but what explain what just happened guys that what do you guys know?
I didn't hear it actually what happened they're accepting Bitcoin as a currency now and I'll accept Bitcoin as currency in El Salvador.
That's pretty fucking cool.
Right?
Let's go.
Yeah.
And Tesla's not so.
What'd you say?
Tesla's not right.
What?
Tesla is not accepting it.
Tesla's not accepting it.
No.
No.
No, we're bullish on El Salvador here.
Fuck Tesla.
That's right.
El Salvador is the future.
Tesla is not.
I'm about to fight Elon Musk next.
Yeah, right.
Jake, do you own any Bitcoin?
Yeah.
Of course.
Of course.
I bought my first Bitcoin eight years ago when I was 16.
It was at $100.
Stop playing with me.
Fuck yeah.
Wait, eight years ago when you were 16 for $100.
Yes, sir.
Fuck yeah.
I put my whole landscaping earnings and Vine brand deal earnings into Bitcoin.
I had no idea what was going to happen.
But best investment to date.
Yeah.
You were landscaping eight years ago?
That is correct.
You've had a very interesting run.
Yeah, to say the least, it's been a roller coaster from Vine to YouTube to Disney channel to rapping to knocking people out.
Yeah.
Are you excited about your brother and Floyd tomorrow?
Yeah, look, I'm excited, right?
It's an amazing event.
Such a spectacle.
I'm sure a lot of people here are going.
I'm nervous, man.
Like, I get more nervous for when my brother's fighting versus when I'm fighting because I can't control anything that's happening.
Now, are you nervous about Logan getting hurt?
Are you nervous about, what are you nervous about?
Look, I think just anything in general, right?
Like, he's fighting one of the best boxers in the history of the sport.
And I know he's prepared.
He's done everything right.
He's trained nonstop, trained his ass off, and this kid can fight, but you're going up against Floyd Mayweather, which is no joke.
And anything can happen in that ring.
And to see your family member in there, it's quite literally a deathmatch, you know?
So to sit there front row and watch that, like if he starts getting punched in the face, I just like start to.
Yeah, he probably will get punched in the face.
He's definitely going to get punched in the face.
That does seem to be part of it.
If you're a mechanic, you're going to get dirty.
If you're a fan, so you're going to get punched.
It's crazy, man.
It's an amazing accomplishment, really, no matter what happens.
So to ask you guys the crypto question here, there's a lot of other cryptocurrencies out there.
Why Bitcoin?
Why Bitcoin?
Why is it the inevitable reserve currency?
What about it do you think?
And what weaknesses does it have that other cryptocurrencies may be able to exploit, if any?
So I think because it's fixed supply, it makes it the ultimate store of value.
It's also the first, so there's a huge first mover advantage, but no other cryptocurrency has the characteristics that make Bitcoin so hard and sound, why we call it gold 2.0.
Okay.
Does it have any weaknesses as a currency?
Is there anything that you would, I know this is not the easiest room to mention that in, but I'm sure these guys can handle it.
I'm sure they can handle it.
Is there any weaknesses you could imagine?
Not really.
None.
None.
Okay, good.
That's good.
I think O.J. Simpson's innocent too.
Now, were you worried when it lost a lot of value what seemed to be very quickly?
No, because it gains value quicker more often than not.
That's a good point.
And we think it'll be worth 500,000 a coin within the decade.
What is that price target fixation?
That's going to be a good buying opportunity.
That's what we call buy the dip.
Buy the dip.
500,000 within a decade.
Within a decade.
And what is that based on?
The market cap of gold.
Bitcoin's better at being gold than gold.
If you look at the characteristics, gold's actually, the supply of gold is not fixed.
It's actually scarce.
So it's increasing.
Bitcoin's actually fixed.
There's no technological breakthrough that will increase the supply of Bitcoin.
So it's actually better at being gold than gold.
And gold's market cap right now is $10 trillion.
Bitcoin's hovering around $1 trillion.
So if Bitcoin disrupts gold, which we think it will, that's our thesis, then it has to be worth, its market cap has to be worth $10 trillion, which would make each Bitcoin worth $500,000.
And that's...
Yeah, that guy is on cocaine.
That guy's had a lot of fun over the last three days.
And that makes a lot of sense.
To talk about NFTs for a second, I know that, I don't know if that's popular here or not.
They're very interesting.
You know, we had dinner.
We talked about how other cryptos and NFTs are getting people involved in the crypto space.
Do you see anything wrong with it?
Do you think that?
I mean, Elon Musk just tweeted something about a crypto called Cummies or Cum Rocket.
I don't know what it is.
Okay, we're not recommending it.
Guys, relax.
You don't have to boo.
This is not a financial.
Financial advice.
Yes, it's not financial advice.
But this thing went up 30% when you tweeted it.
So is one guy having so much power ultimately like a bad thing?
Yeah, 100%.
Yes.
Right.
Perhaps.
For sure.
If Elon Musk is having a bad day, then we're all having a bad day.
That certainly seems to be it.
We need to switch the power.
We need a new nominee who can take over Elon Musk.
I like the idea that you guys could step in for Elon Musk because there's two of you, but there's really one of you.
That's what I like.
I like that.
That's what's good.
There's one of you, but there's two of you.
So I think that's better.
And I mean, I'm not asking you guys to shit on Elon Musk for cheap YouTube views, but.
But that's what we're doing.
But truly, is this a problem?
Does this hurt Bitcoin when it can just rise and fall on the whims of one Twitter account?
This is a serious question.
Yeah, well, I think it's risen on its merits long term.
So Bitcoin is about a community.
It's a movement.
It's a revolution.
It's not about one person.
It never has been.
Maybe in the short term, it can be, like we're seeing, but I think over the long term, it transcends one person.
Okay.
And now a lot of people have gotten upset about that it uses a lot of energy to mine.
But I like that.
I like the Earth hot.
It's nice.
I like it hot.
Miami's lovely.
It's pretty hot down here.
Miami's lovely.
So I say use more energy to mine it.
Truly, use more.
I think more.
I think lava, whatever you want to use.
If you could build Bitcoin mines in volcanoes, let's fucking do it.
Let's stop being pussies.
Truly.
Who gives a fuck?
It's nice.
But Jack Dorsey is a pedophile.
Okay, well, this audience is...
What conference is this again?
Yeah.
This is very strange.
Okay, well, I don't know that that relates directly to blockchain.
Jake, you've been talking a lot about fighters not getting paid.
Let's just take a break from crypto for a second.
What?
You got into the boxing world.
You're fucking it up.
People are not happy.
And then you started saying that boxers are getting fucked and UFC fighters too.
Yeah, look, I mean, at the end of the day, these fighters are getting into the ring and risking their lives, you know, and risking injury.
And it's one of the hardest sports, if not the hardest sport in the world.
And you have to dedicate your life to it more than any other sport, I believe.
And people like Dana White, who own the UFC, are basically creating a monopoly.
UFC fighters out of any organization, out of any league that there is, the owners take the most amount of the cut versus the fighters, which it's a big topic.
And me and my brother are creating this movement forward to help fighters increase their pay because if you're in the UFC, your boss is Dana White.
So you can't be like, hey, I don't think we're getting paid fair.
Hey, this isn't right because he'll just cut you and throw you off to the side.
But I'm creating a voice for the fighters.
And I'm creating a voice to say, fuck Dana White.
Fighters should be getting more pay.
And they are the content.
You know, without them getting into the ring, the UFC wouldn't have the content that they sell for hundreds of millions of dollars.
These guys are getting paid pennies on the dime.
And it's just not fair.
And so, what I'm doing, my movement forward, is showing these fighters you don't need a promotion, you don't need a promoter, and you don't need to sign into these longer deals.
Create your own hype, use social media, and there's going to be a switch in this narrative over the next couple of years.
Dana White doesn't make good fights happen, he doesn't make the fights that the fans want to see because he can't pay these fighters enough or doesn't want to pay these fighters enough.
John Jones versus Francis Nganu, one of the biggest fights that everyone wants to see, he won't even pay them $10 million each to make the fight happen versus some no-name, or not no-name, but like some smaller boxers will get paid $20, $30 million for a fight because they're in control of their own promotions.
So, yeah, I just feel bad for these UFC fighters.
They need to get more pay.
And Dana White's the one in control of that, and they can't say anything.
They can't speak up to their boss.
Does Dana White like you?
No.
No, not at all.
He is, I think he hates me more than anyone in the world right now.
Wow.
Because, look, I'm trying to take money out of his pocket, give it to the rest of the fighters.
You know, I think he's a joke.
I think he's a chump.
He started off as a cardio kickboxing instructor and got lucky with the UFC and now thinks he's the coolest person on earth.
I'm going to take Dana White.
Now, why his description of Dana White, why does that also not describe Elon Musk?
What'd you say, Tim?
Like, his description of Dana White is like a guy, like, when Elon Musk goes in and does all these things, he seems to be trolling and having a lot of fun.
Is he ultimately a serious person?
Do you guys think he's, like, when he says cum rocket to the moon, does he believe that?
Does he believe in the fundamentals of cum rocket?
Does he believe that cum rocket is a good store of value?
I mean, no, truly, or is this guy like a carnival barker who's having a lot of fun, and then on the other end, there's people's lives that he's playing with?
Yeah, that's probably a joke, but he does own Bitcoin.
He is a hodler as far as I don't know if he's buying cum rocket, right?
He's just tweeting.
I don't think that's on the balance sheet of Tesla.
Right.
Right now, at least.
But Bitcoin is.
I know Kathy Wood thinks he's long on Bitcoin and that other people are pressuring him to sort of talk about the climate change stuff and the mining.
Is that true?
Is Kathy right about all this or is she just saying whatever?
I don't know.
I know that she's dating Floyd Mayweather.
Kathy Wood is dating Floyd Mayweather.
And they went here last night together.
I was surprised by that.
Will you guys ever sell?
Will you ever sell?
Is there any Winklevoss twins right now?
Is there any reason that you would ever sell your Bitcoin anything at all?
No.
No, unless I was buying CumRocket.
You have a new conversation.
Hi Lars, Daniel from Joka Buland.
You said you waited a last with a child in Porsche.
I think that's why you think it's a last with a week's joker, which is a choice for Gilde, Frior, Pinsporten, and Leiv Vidal to minus 40%.
We'll talk about joker, the good neighbor.
How many people in here are committed to not just buying a shovel, not selling their Bitcoin if your mother has been kidnapped?
Or you have a child and they've been kidnapped.
Do you sell?
One guy says yes.
NFTs as Future Currency00:16:06
The rest of you are thinking about it.
That's what I like about this audience.
The rest of you are really thinking about that.
Applause, applause, applaud now if no matter what happens with your family, you're not selling that fucking coin.
Yeah, I respect it.
I respect that.
Mom will figure it out.
She'll depend on fiat currency, that geriatric bitch.
He'll figure it out.
If the fiat system, yes.
You could send Bitcoin to Liam Neeson's wallet and Liam Neeson's go save your mom.
Yes, it will change the narrative of every film.
Do you guys believe the financial system in America is savable?
The fiat system.
Can it be salvaged?
I mean, we're printing so much money, the Fed.
Like, I think we're running trillion-dollar deficits on a yearly basis, and I just think the math doesn't work.
Like, at some point, that bill or invoice comes due, and I think that it's not sustainable.
Right.
Now, Jake, you love the money system.
That's why you live in Puerto Rico.
Now, you explain NFT.
You love NFTs, though.
You're into NFTs.
You like them.
Yeah, 100%.
I think kids in our generation grew up and everything was an NFT.
You know, in Call of Duty, you're getting the skins, the camouflage, you know, Fortnite, you're changing characters.
Those are all NFTs if you really think about it.
And so I think for the younger generation, it's something that's natural, something that's built in.
And, you know, it's art.
And sometimes it's art that you can take with you in your pocket, right?
You don't need a giant warehouse to store all this art.
I've never gone to a gallery and just been like, hey, I want this piece.
I want this poster.
I want this.
But for me, like going on Nifty Gateway and like, you know, shopping for art and looking at pieces, that's fun to me.
And it's a cool, fun way to collect art and create value for yourself.
Do you guys think, both of you, that NFTs will become like really the premier type of art?
Will digital art replace art?
I think digital art is art.
Right.
Yeah.
But do you know what I mean, though?
Do you think that we're...
I don't think it cannibalizes necessarily.
It's just a new color.
It's a new medium.
Right.
You know, like street art became a thing and it wasn't, but people still like oil and canvas and other types of art.
So it's just like a new canvas.
Right.
The internet is your gallery.
Does it seem sustainable, though?
Because there's a lot of stuff going on that's a little wacky.
There's a lot of NFTs that are seemingly a bit absurd.
Where you got, like Lindsey Lohan has an NFT.
There's a lot of art that's pretty absurd too, right?
Get a certain duct tape.
It's a banana that goes for $100,000 or something.
Right.
Duct tape banana at an Art Basil.
It is all subjective.
$100,000.
It is all subjective.
Yeah, but I think you can't bring offline canvases into the metaverse and digital world.
So I think that's where NFTs and digital art really flourishes and is the dominant.
My business manager is breeding NFT horses.
This is true.
How soon until I'm homeless?
I bought a digital NFT racehorse.
Did you?
Yeah.
I told my dad and he thought I bought a real racehorse and his jaw dropped.
He's like, what are you doing?
Those things are really expensive.
And I was like, no, it's not.
Digital ones are expensive, too.
It's true.
It wasn't expensive.
How much is the digital racehorse, if you don't mind my asking?
I think it was like $15,000.
$15,000 for a digital racehorse.
It's real fast, man.
I can't believe it on this.
It's a real fast.
Is it good?
What is the stud fee for the $15,000 digital race?
10F, right?
Yeah.
Yeah, I don't know.
I don't know.
Jake, what is the coolest NFT you own if you're willing to share with people?
Coolest thing you own that's an NFT?
I think there's an artist named Philip Hodas.
I have a couple of pieces of his art.
He's just fire.
That's probably the coolest thing.
I like the animated, like 3D, like futuristic, you know, that's the stuff that I'm including.
Like M ⁇ M's NFT?
That was cool.
I didn't see it.
The marching soldiers with the skulls and the floating stuff.
Ben, shut up.
Cool, because like I'm joking.
You can't put a soundtrack on a warhol, right?
With an NFT, you can get visual and audio together.
The visual, the audio, any form of content, right?
It's more immersive.
Yeah.
100%.
It can be moving.
It's programmable, like Bitcoin's programmable money.
It can change color in 50 years or on your birthday or all sorts of stuff that you can't do offline.
Do you guys think that governments around the world, do you see them outlawing Bitcoin?
I know that there's talk of that in India.
I don't know if that's happened or not.
Do you think that becomes a major issue going forward?
That you have governments clamping down?
And do you think second part to that is the Fed, Fed coin, are they going to issue central bank cryptocurrencies?
I mean, I would say good luck.
You got to shut down the internet to shut down Bitcoin.
Right.
That's a tall task.
Okay, well, they'll do that.
So let's not challenge them.
Let's not be like, hey, China, guess what you have to do?
Shut down the internet.
They'll go phenomenal.
We'll do it.
North Korea, you just have to be.
Hey, North Korea, just shut down the internet, pussy.
Oh, oh, you did.
All right.
Oh, you did.
Yeah, that's tough.
But is that going to be an issue or do you think that the power of the internet is so strong?
I think it's too strong because the biggest drivers of the U.S. economy are big tech.
So you cut off Bitcoin, you cut off all of that, too.
So it's too much economic loss.
So they have to work with it and live with it, unless you want to be North Korea.
You guys are telling me that the internet will be a freer place with Bitcoin.
And we look at the internet now, and there's lots of challenges that creators have.
Censorship, monetization, exclusivity, all these things.
How does the adoption of Bitcoin help the internet become a freer place or maybe a less monopolized place?
Because we have a few major companies that run the entire internet and kind of decide who can say what when.
Can Bitcoin change that and how?
Yeah, well, so Bitcoin's the blueprint for how to decentralize anything.
So ultimately, the internet's very centralized right now, but Bitcoin is a blueprint to decentralize Twitter, to decentralize Facebook.
So the value doesn't accrue to a few people who run those companies, but rather to the users of those networks.
So think of if you tweeted, instead of getting likes, you got paid in coin for your content.
And so the value accrued to the people who actually used it and created the content in a very democratic way, not just a few people sitting in offices in Silicon Valley.
Right.
And now Bitcoin will make that easier.
How?
Well, Bitcoin sets that blueprint.
And Bitcoin can either do that or it sets the blueprint for other networks like Ethereum or whatnot.
I know that may be taboo for this conference.
A dirty word at the dirty word.
What do you guys think about Ethereum?
Wow.
Mixed reaction.
Shocking.
But the idea is that all of the power in finance and the internet rests in the hands of a very few people.
Yes.
You see the GameStop saga, one call from a clearinghouse to Robin Hood, so we think, so we understand.
No, we know.
We know.
And you can't trade your stock, right?
There's no, the blockchain doesn't stop.
You can't call the blockchain and stop people out.
It just keeps happening.
So it's not a level playing field in centralized finance.
The whole world saw that.
They can't unsee that, how people were stopped out and whatnot.
And so that's pushing people into the decentralized alternatives like Bitcoin.
So when we see all the money printing and how the U.S. dollar, what is the value of the U.S. dollar?
I mean, it's becoming toilet paper, right?
Right.
So that's been a huge catalyst.
And every time a trillion-dollar stimulus gets passed, it's a trillion-dollar advertisement for Bitcoin.
We're burning dollars later at the after party.
We're just going to take suitcases of U.S. dollars and burn them, which is slightly insensitive.
So when people see that happen, when they see people get deplatformed from social media platforms, it just pushes people to find alternatives.
And they're going to find decentralized alternatives where you can't be deplatformed.
It's not controlled by a company, a government, or any person.
And that's going to be the future that this behavior...
It's kind of what you're doing in fighting in a weird way.
Like you're coming into fighting and saying there's this structure that exists that kind of fucks over fighters.
And you're basically saying, you're going to kind of be like a wrecking ball and go in there and tell people that they don't need that structure to have a career.
Exactly.
It's like taxi versus Ubers.
Coming in and innovating.
Someone has to do it.
Someone has to change the model, but it's not easy.
It takes time.
But it's putting the power back into the creators or into the people who are making the content or playing the sport.
You know, Big Sean has a song, and in the beginning of it, it's like, we look at LeBron James, and we're like, wow, he's so rich.
He has a billion dollars.
Well, how much money is he making for the owners of the team?
Right.
So, you know, how do we as the people who are in the gym, you know, training every single day, busting our asses, how do we become in control?
And I think that's what the movement is for me, at least in boxing.
I don't know if it's possible in basketball.
I don't know if it's possible in the NFL, but boxing's very disorganized.
And so it's something that, you know, this model of basically decentralizing.
Does this work?
Is it going to work for every athlete?
Because you're very good at getting attention.
But a lot of those athletes that you're saying you don't need a promoter, they might not be as good at you as getting attention.
You have a massive fan base.
You're very good.
You know, you'll go out there and, you know, do you think that there are certain fighters where they're just not going to thrive in this medium because they don't have that ability?
They won't steal someone's hat?
I mean, you got to be willing to steal people's hats.
You got to steal hats.
If you want to make it in the sport, you got to steal hats.
All Bitcoin is, is these guys are trying to steal the Federal Reserve's hat.
Exactly.
Right?
Isn't that true?
Trying to get Jerome Powell's hat.
That's right.
You crypto junkies.
But there's a lot of overlap.
I mean, Bitcoin's all about empowerment of the individual and giving people an alternative system to centralized finance.
And it sounds very similar to what you're doing.
If you don't have options and you're locked into one thing, that's not good.
Bitcoin gives greater choice, independence, and opportunity for individuals.
And I think that's why everyone's in this room and so excited about this technology and movement.
Now, what do you guys, where, now, obviously, Elon tweeted, and that was a thing, and there was environmental concerns.
The massive loss of value that happened pretty much in like a day.
What do you attribute that to?
Was it fear?
Was it people saying, was it the recognition that this thing had blown up and gained a lot of value and it was a correction?
What were your emotions during that period?
Do you care?
You're very stoic people, both of you.
You're very stoic.
You have like kind of a stoic.
You're Olympians or something, right?
Weren't you in the Olympics?
Yeah, maybe.
It's disgusting.
Anyway, I hate the Olympics points.
But anyway, but do you show any?
Do you call him?
Do you text him?
Do you go, what the fuck?
Or do you just go on a 19-mile run or whatever you do?
I mean, Bitcoin's died like 400 times in the press in the last 10 years.
So this is nothing new.
You know, it's like the FUD about it's all dark market stuff.
And then Silk Road gets busted.
The price goes up.
You know, Jamie Dimon calls it a fraud.
Warren Buffett calls it rat poison.
Like, Bitcoin gets through all of this.
You know, and what doesn't kill it makes it stronger.
So it's one of those things.
It also, if you, you got to zoom out and have perspective.
We wrote a blog last summer when Bitcoin is saying, predicting, or, you know, Bitcoin 500K, that's our thesis.
And Bitcoin was trading at 13K.
Right.
So like it ran up to 60K and crashed down to 35K, you know, but it's still better than 13K last August.
So if you zoom out long enough, yeah, it goes up.
It's a little bit boom and busty, but it's always going up.
This is still the best year Bitcoin's had.
Probably.
Yes.
Yeah.
But we don't even look at the price that much because.
Right, fuck the price.
I mean, I see it on Twitter, but like we know long-term where it's going, so we don't get caught up in the turbulence short term.
Some of these people, though, have borrowed against their Bitcoin, right?
Some people have leveraged against Bitcoin.
Like there's people in this room right now.
And some of the price going down, that's leverage coming out of the system, right?
So sometimes that can hit through some stops and crash the price a bit more, but it always recovers.
Right.
How much, I mean, you don't have to say how much Bitcoin you have, but are you big into the Bitcoin game, Jake?
Yeah, yeah.
I keep trying to put more and more in because it's a long-term game.
And I know where it's going as well.
It's the future.
It's the future of currency, in my opinion.
I'm not an expert, but it's like you just see where it's gone.
I've seen you ever have to say that.
We're all really experts now.
It's America, the year is 2021.
Everyone is an expert in anything.
You don't really have to ever say, I'm not an expert.
Just talk.
That's what I do.
I just talk confidently and loudly.
And if somebody says that's factually wrong, I go, we're having a difference of opinion.
But facts really don't exist.
They're stupid.
And they really, they hurt you if you're trying to have a good life.
That's the way I feel.
And do you not feel that way as well?
It's facts are old school shit.
Yeah, never let the facts get in the way of a good story.
Never let the facts get in the way of a good story.
You have to just, it's all about mindset.
You know, like, and because I was at one time near homeless and broke, but then I saw a YouTube video of Gary Vee and he just said, win.
And then I just said, that's a good idea.
So I started winning.
I didn't even know how.
It just started happening.
It was very inspiring.
He said, win, damn it.
And I went, I never tried that.
So I want to thank him for that.
Now, you say Bitcoin decentralize everything.
Mindset Over Old Facts00:02:40
It makes society better.
Are there people say, hey, it's used for kidnapping?
Hey, it's used for drugs.
And I don't mind drugs.
And I think some people need to go.
That's what I say about kidnapping.
It makes the world fun, doesn't it?
When you go to an all-you-in-clusive resort, knowing that you might not be there the next day makes you enjoy the goddamn day.
But there are people out there that are pussies, and they keep going on about, oh, drugs, human trafficking, blah, blah, blah.
What's our angle here?
Do we say, no, it's not used for drugs and human trafficking?
Or do we, like I say, defend drugs and defend human trafficking?
Nothing's been used to buy more drugs than the U.S. dollar.
Nothing.
Nothing has been used.
And you use drugs, too.
You can't snort out of a Bitcoin.
I've tried.
You actually, you can't do it.
You have to roll up a dollar or 50 or 100 if you're having a good night.
Many of you will be doing that later.
Just staring at the Dogecoin dog.
But so do you give any credence to the criticisms of Bitcoin in that sense?
No, it's just a technology.
Bad people use email in cars.
Part of kidnapping probably involves a car.
Should we outlaw a car?
A lot of the same people that don't like Bitcoin would say yes.
There's a lot of people.
Are you worried about the environmental impact?
Do you think that there's renewable alternative sources that can mine Bitcoin because that is a major concern?
Not for me.
Yeah, totally, because you can bring Bitcoin miners to the energy that's stranded and not being used for other things that you can't get to a grid.
So Bitcoin, I think, is going to provoke a lot of renewables and all that stuff.
So I think, yeah.
Yeah, it will push that.
Now, when you say you can bring Bitcoin miners to energy that's not being used, that's very interesting.
Where would that energy be?
Hydro or like natural gas that's stuck that doesn't have a pipeline to go anywhere that the companies are flaring to then drill for oil.
And instead of flaring it, you can use it, harness it to mine Bitcoin.
We're actually investors in a company called Crusoe Energy that's doing that.
They put the Bitcoin miners next to these natural gas and they flare it and use it, or rather use it in generators to then mine Bitcoin.
Interesting.
Very good.
Well, problem solved.
Mining Energy from Flares00:03:42
Jake, your next fight coming up is against a UFC fighter.
Some people have criticized you and said, we want them to start fighting boxers.
What do you say to those people?
Look, I say I'm here to do big fights.
You know, there's not that many boxers that have big names, unfortunately.
There's a lot of UFC fighters with big names.
And so I'm doing fights that make sense from a business standpoint.
My goal is to sell millions of pay-per-views and make history and make it as hype as possible.
And I'm fighting the big name people.
And Tyrone Woodley's a significant striker.
He's a five-time UFC champion.
He has brutal knockout power.
He's knocked out almost all of his opponents.
And if you look at the careers of like Mike Tyson or Floyd Mayweather or Muhammad Ali, in their fourth fight, this is my fourth fight coming up.
In their fourth fight, they're fighting guys who nobody has heard of, who are 0-5.
If you know anything about the sport of boxing, your promoter takes you from when you're a young kid and he has you fight a bunch of easy people until you're 20 and 0 and then all of a sudden you're this big star and you can get paid millions of dollars for fights.
But you're realistically you're 20 and 0 against guys with no names.
You haven't fought any world champions.
My last fight was against a world champion, an Olympic athlete, a two-time Dan Hodges, NCAA Wrestling Division I champion award winner.
And I knocked him out in one round.
Yeah, he seemed tired, that guy.
He seemed...
Yeah.
His training video was weird.
He was like running in the snow.
I'm like, oh, he's going to be in trouble.
That's like Rocky, right?
Rocky.
Do you think would you ever could you beat both Winklevoss twins?
That's tough.
They're athletes.
They're eight feet tall.
They own more Bitcoin than God.
It's very tough.
Look.
I don't want to be an asshole, but.
You are an amazing.
What people don't understand is like you're a legit, legit fighter.
You're a legit athlete.
You take it seriously.
This is what you want to do.
You don't want to fuck with YouTube anymore in the way that you used to.
You're bored with that.
You want to be a fighter.
100%.
I take it more seriously than 99.9% of fighters do.
You know, I have a 10-person staff just for my boxing team, from three boxing coaches to a mind coach to a stretching coach, two strength and conditioning coaches.
Like the list goes on.
And so I take it very, very seriously.
And everyone wants to see the, you know, Jake Paul get knocked out.
And so I have the giant chip on my shoulder.
And when you combine that with a hard work ethic, you know, I grew up wrestling in state in Division I, Ohio, one of the hardest wrestling states, playing football.
I wanted to go to the NFL.
I can run a 4.4 second, 40-yard dash.
I want to win.
I have a will to win.
I have a chip on my shoulder, and I have the best team surrounding me.
And I've grinded in the dark to shine in the light.
And I'm just, I love the sport.
I've said that many times when checking into a hotel and they say your room is not ready.
I said, I've grinded in the dark to step into the light.
And they go, not till 4.
You're not stepping in the light till 4 p.m.
And it's a real problem.
Winning Against the Odds00:10:20
Winklevoss twins, what's the price target for Bitcoin before the end of the year?
And we're going to quote you on this.
And if you're wrong, we're going to do nothing.
So make sure you're careful.
By the end of the year, by January, where does Bitcoin close?
Does it fall further?
Or the other one where it goes higher?
I think we could see 100,000.
100,000 year.
Is that from both of you?
Yes.
Okay.
Good.
Do you think Ethereum is other than Bitcoin?
Does that seem to be the one crypto that has real staying power?
Yes.
Yes.
I agree.
Very good.
They're so nervous.
They're saying like two words because people care what they say.
Now, the Middle East.
No, I'm kidding.
Palestine just announced they're buying Bitcoin right after Al Saba.
What are we so?
It's turning around.
Now, are there any issues that you anticipate with government pod?
The IRS is now getting involved in this.
You know this.
They're clamping down.
Why are they doing this?
And should we overthrow the government?
Why do you think they're doing this?
Do you think that they think people are getting away with money?
Or is this more of an anti-Bitcoin posture that the government is taking?
Is it a money grab that the government needs money?
Or do you think it's part of something larger?
I don't think it's singling out crypto.
It's just the government likes to take your money with taxes.
Could be some kind of deep state thing.
Who knows?
Yeah.
If there was one coin outside of a fun one, not a Bitcoin, not an Ethereum, a fun coin, a fun coin from everyone on the thing.
What fun coin do you like?
Is it Cum Rocket?
Is it shitcoin?
Is it Ascoin?
Gatecoin!
I think the coins that are donating to charity, you know, as a part of their...
I like that charity is relying upon Cum Rocket for donations.
I think that's a good system we have.
But are there coins donating to charity?
Yeah, there's Pit Bully, for example, where a large part of their liquidity gets donated to Prevent Against Bullying.
What's the name of that?
Pit Bully.
Pit Bully?
Yeah.
And wait a minute.
It has nothing to do with Pitbulls?
I think the logo is a Pitbull.
Okay.
It's a violent dog.
Now, so part of their liquidity gets donated to bullies.
I like that.
And they give it...
No, it's donated to the victims of bullying.
Correct, yeah.
Okay.
Oh, Tim.
Well, I'm glad.
What about you guys?
Is there any fun coin?
Do you have any fun with the coins?
You're so respected and legitimate.
Say something insane so that we can get views, so I don't fire my fucking agent for sending me down here.
I'm kidding.
It's been fun.
We've had a lot of fun.
I like this.
It feels deeply like a religion.
Which is healthy.
I think it is.
I think mass psychosis is good.
And other people don't.
But I think there's something nice about a group of people who believe things no matter what, no matter what the facts are.
It's good to have a group of people completely impervious to any logic or outside information.
I think it's good.
Now, are there any other coins that you guys have fun with?
I mean, I tweet about Doge a lot, but I don't own any.
You don't own any Dogecoin?
Not yet.
What about you?
No.
What about you, Jake?
I mean, you got, I mean, I think everyone messes around with shit coins a little bit.
Yeah.
But I was in Doge, yeah, before Elon talked about it.
Right.
Shitcoins are like whores, but not sex workers, which are great.
Whores.
Sex workers, it's a legit, we get it.
But so the shit coins are like whores, But you marry the Bitcoin.
And then you also, that's what you do.
You marry the Bitcoin and then you fuck Ethereum once a year and your wife doesn't mind because you have a pool.
That's kind of...
Am I wrong about that?
I think I'm kind of right about that.
Well, we're going to wrap this up soon because there's an after party where Elon will show up.
If Elon had balls, he would come to this convention.
I believe that, right?
Man, this audience has the energy of the Capitol Riot.
I mean, it's like, I'm so scared that there's not a fucking glass partition between these two security guys.
What are they going to do?
These people just storm the stage and fucking kill us all.
They'll tweet about it like, yeah, that sucked.
Anyway, Jake Paul's getting eaten alive by some fucking crypto freaks in a fucking convention center.
I'm glad we can't afford a real convention center.
We're here in this fucking weird art installation.
Nothing makes you feel good about the future of a financial product than walking by fucking white chicks with dreadlocks on the street who are painting fucking murals on the wall.
It's like the Fed versus street art.
It's like, great, good.
Next year we'll get the real convention center.
Any parting words of wisdom?
This is an army of people out there.
They're maybe losing faith in Bitcoin.
Maybe they've lost money.
Who knows?
Is there anything that you guys can say as your final closing argument of like, hey, times are tough.
They might get tougher.
Is there anything that you, because you guys are relatable figures.
You're billionaire, tall, athletic Olympians, just like everyone else in this country.
No.
So talk to your equals out there.
Your equals that are watching you on YouTube going, those guys and me, we get it.
Friends of mine, unemployed Uber drivers, morbidly obese drug addicts, people that own 1 18th of a Bitcoin and look at you and go, I'm going to be them.
Even your last name is kind of magical a little bit.
Winklevoss.
It just sounds...
If I said that was my last name, somebody would go, no, it's not.
They'd go, no, it's not.
And I'd go, you're right.
So is there any inspiring message you have for the monsters out there on the other end of their screen looking at you going, Bitcoin's my way out?
What do you say to them?
Always stack sats and remember to always huddle.
And buy the dip.
And buy the dip.
Okay.
Jake, what words of wisdom do you have for people on TikTok right now that are going to be irrelevant in 15 minutes who want to start fighting people because it's their only hope?
They go, I got to fight people now.
I mean, you and your brother are like, you're like the leaders of that section of the internet where it's like, now everybody's fighting.
TikTokers, YouTubers, the D'Amilio girls are kicking each other in the face.
What do you tell people who want to have a career on the internet as you've had?
What do you tell those people out there?
Because you're a relatable guy.
You grew up in Ohio.
You were a landscaper.
And now you own the island of Puerto Rico.
So what do you say to those people?
I would say you're fucked.
I would say don't do it.
Yeah, don't do it.
Don't do it.
That's what I tell them about comedy.
Don't do it.
Stick to your day job.
Well, that's an inspiring message.
I could say something inspiring, but I don't know.
That's what I like.
That's what I love about you.
You're not full of shit.
You don't tell people it's going to work out.
You did a lot of shit.
You jumped on a lot of trampolines.
You grabbed a lot of hats.
You fucking worked your ass off.
Facts.
You know, these people wrote a lot.
Everyone worked.
What is this guy?
This guy's...
Does he have a gun?
No, I'm kidding.
Anyway.
Oh, shit.
This is a terrifying audience.
This is the scariest audience.
I've performed at like heavy metal concerts, and this audience is much scarier.
Belief in anything is really terrifying.
That's what I've learned, you know?
But I love being here.
I think Bitcoin is going to bounce back.
I say it's wrong that people call it a financial QAnon.
Scariest Audience Ever00:01:14
I think I...
Our podcast sucks.
You suck.
Listen, buddy, you're a good person, and you're angry, and I don't know why you're angry, but it's probably because you're involved in a cult.
And you need to get out of that cult and do something else.
The meaning that you're looking for in life, you're not going to find in a convention center in Miami that's not even real.
Right after you people leave, they move the homeless right back in here.
Truly.
Right after you guys leave, they move homeless people back in here and then they get up here and talk about Bitcoin.