March 8, 2021 - Freedomain Radio - Stefan Molyneux
01:25:23
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| Hi, everybody. Stefan Molyneux from Freedom, Maine. | |
| Welcome to the investment slash crypto roundtable on the same timeframe in history when you get your stimmy checks. | |
| The two may be occasionally related. | |
| Let's find out. | |
| Hi, everybody. We've got MK, Jared, Landry, Listener 184756, I believe that's one of Elon Musk's children, if I have his naming conventions down correctly. | |
| Quite a few children he's had there. | |
| We got MK, we got Thomas, who we begged not to use video because they're just too damn handsome. | |
| So we got six people on here, and I think, you know, at this point, introduction is probably unnecessary. | |
| Who's got a top yearning burning that hurts when your pee hasn't been seen by a doctor yet that you want to share here? | |
| And then we'll move on to investment. | |
| I mean, you want a crypto-related yearning burning? | |
| I mean, I keep calling it investment, although, let's face it, not a lot of gold bugs in the crowd here. | |
| So, yeah, whatever you've got on your mind. | |
| I've certainly got a couple of things to chat about, but I am very happy to hear your thoughts. | |
| One of the other users shared an interesting graph showing the bull run slash crypto winter cycle of Bitcoin and crypto in general. | |
| And so the Bitcoin or the crypto winter is the two to four years when not a lot's happening. | |
| It tends to go down in price. | |
| And then roughly every four years we get this bull run. | |
| And from looking at this graph, and it's one of those pretty graphs and pictures, I can't break it down right here and right now, but it looks like our peak for this bull run, based on this, take it with a grain of salt, is $120,000 to $150,000 US dollars. | |
| Let's break down that. | |
| Remember, this is not investment advice. | |
| Don't make any decisions based upon what we're saying here. | |
| It's just a couple of men and women jawboning about ideas. | |
| With that having been said, step us through this logic because you just gave me a financial boner that knocked over that. | |
| Please step me through it to make sure that you're not just teasing me here. | |
| Well, I guess one of the ways to put it is that the best predictor of future behavior is relevant past behavior. | |
| And God willing, that applies to economic markets as well. | |
| So back in 2012, we had the roughly low for Bitcoin of a dollar, you know, and then around 2014, it peaks to around a thousand bucks, 800 bucks. | |
| And then it crashes all the way down to $200. | |
| And like, you know, Bitcoin's dead, go home, pack it up. | |
| But then around 2018, bull run, we hit a peak of about, at the end of 2017, we hit a peak of about 18,000, you know, 18,000 per Bitcoin. | |
| And then it crashed. | |
| All the way down to about $3,000. | |
| I don't really remember that stuff. | |
| I was mostly in a coma at that point, self-induced, obviously mostly vodka-based, but yeah, I remember that. | |
| And so it's... | |
| Okay, so now, you know, that was 2018. | |
| Here comes 2021, and we're in this cycle of it, you know, we're at about 50, and that's still on the up curve. | |
| And so if... You know, historical precedents hold our ballpark right now is $1.2150. | |
| Again, take it with a grain of salt. | |
| If there's one thing I know with this stuff, it's that I have no clue for certain where it's going. | |
| I know personally in the long run. | |
| I was talking to... Some folks at a real estate company did it. | |
| I was closing on a property and talking about crypto and Bitcoin because I was talking with the title transfer. | |
| That's the person who goes back and makes sure whatever property, they can actually sell it, you can legally get it. | |
| And it's very much similar kind of process to the way a blockchain or crypto works is that you validate ownership and it's a process of validation for new ownership. | |
| And so she was really interested in that. | |
| And I was kind of educating the whole office because everybody stopped and started, you know, taking notes and listening. | |
| Everyone had a story of, oh, yeah, I know this dentist who bought it back in 20 such and such, and he's made a, you know. | |
| So, yeah, I said, you know, if I happened to say something, you go out and you buy some Bitcoin or some crypto tomorrow, don't talk to me in a year from now when it's down. | |
| Talk to me in four years, you know. | |
| Right. Right. | |
| Okay, so anybody else wanted to add? | |
| So that's your guesstimate and your timeframe? | |
| Sorry if I missed that. Well, that's not mine. | |
| That's something someone else shared, and I've seen this case made before over and over again over the years. | |
| Hey, hey, if you're bringing it to the table, man, you own it. | |
| Fair. I own it. | |
| I'm bringing it to the table, but it's not mine. | |
| No, no. You brought it to the table, man. | |
| It's yours. That is fair. | |
| You own it. I'm guessing you left out the fact that this Bitcoin might make their jobs obsolete on the title and escrow. | |
| Oh, no. If anything, I've told them that you need to get educated now because, I mean, this is going to be the way it's going to be done in the future. | |
| And it'll be a lot better and easier. | |
| And she was on board because the reason we got in the conversation is she's like, why didn't you want to do a wire? | |
| I'm just really curious. Like, what's my customer experience? | |
| Why do you not want to do that? | |
| I'm like, well, I've worked for crypto exchange and I've handled what we called legacy banking transactions. | |
| And I've seen how often they mess up. | |
| They don't go through. That's why I didn't want to do a liar. | |
| I'm in the Bitcoin crypto world. | |
| I trust that more than what we've got. | |
| She's like, oh, A, let's get this done, and B, tell me more, because I'm really curious and had a good time. | |
| I have, of course, over the years helped out various listeners. | |
| I like to donate in return from time to time. | |
| And back in the day, it was like, I need to send money overseas. | |
| ICANN number, SWIFT number, bank number. | |
| And then you've got to find a teller who has any clue what's going on. | |
| And basically, it's like you're asking them to break a Nazi code from 1942. | |
| It's like, I just need to move money from A to B, man. | |
| That's all. No, it can't be. | |
| No, apparently it's impossible. | |
| And there's some digit that gets slipped, and then you've got a call, and you've got to get it returned, and God help you. | |
| I mean, you might as well just use carrier pigeons and a diamond ring as far as getting value across. | |
| It's just crazy. | |
| All right. Anybody else with other things they wanted to use? | |
| Yeah, go ahead. I think she shared with me about how just within the last couple of months, she experienced $200,000 in wire fraud. | |
| From where a real estate agent, they got hacked and sent an email to someone saying, oh no, ignore those previous wiring instructions. | |
| Use these instead. And that's all it took. | |
| Yeah, it's pretty bad. | |
| It's pretty bad. Anybody else? | |
| I have a bunch of stuff to go through, but I'm more than happy to cede the floor if anybody else has a yearning money they want to get involved in. | |
| I don't know what's more volatile right now, growth stocks or Bitcoin? | |
| I think Bitcoin is actually more stable. | |
| That's a good sign. Sorry, you're a little quiet. | |
| Could you just say again? If you're following like the ARK investment funds and like the kind of the crashing of the growth stocks right now, I think Bitcoin is actually more stable. | |
| I think you could make the case. | |
| I just want you to say it again, but slower. | |
| Can you put some candles on? | |
| Put a little Barry White on. | |
| Turn the light down a bit. | |
| Bitcoin is more stable. | |
| I'm going to keep both hands visible. | |
| Bitcoin is more stable. Okay, let me share. | |
| This is a minor confession. | |
| I don't know if you guys have experienced this, but have you ever dated somebody really insane but exciting? | |
| Oh, yeah. Yes. | |
| Oh, there's a heartfelt. | |
| Landry, anything you wanted to share about that? | |
| I mean... I'm curious how it's... | |
| I don't know, man. | |
| I don't know if I want to share it, but you know... | |
| I mean, I'm not saying show names. | |
| Recently, I actually had somebody... | |
| Somebody texted me who I used to date, because we caught up recently, and they're in a really weird place where they don't take a shower. | |
| They drink their own pee. | |
| It's a really weird outcome for a person. | |
| And then, so I was really kind of uncomfortable... | |
| Sorry, could you just turn that phone around? | |
| I can't see those pictures that that person sent you. | |
| But she sent me a message. | |
| She's like, yeah, I just want to let you know that I know my life's moving in a positive direction. | |
| I'm sorry it's not as exciting as it was when we were hanging out because it was so dark and awful, but awesome. | |
| And I'm like, I guess that's partially it. | |
| So you're saying that your touch is so exquisite, Landry, that the moment you stop touching a woman, she will never bathe again. | |
| That's happened. One's become a lesbian. | |
| It's been a lot of outcomes with my ex-girlfriends. | |
| Oh, and that's good to know. So if you are insane, obviously Landry's the person to go. | |
| So the reason I'll tell you this, this is kind of a confession. | |
| I'm not saying I'm proud of it, and maybe other people are having the same experience. | |
| But I got kind of bored of Bitcoin. | |
| Because it's just like, it's stable. | |
| And for me, it's like, oh, it's 59 Canadian, right? | |
| Oh, it's 60. Oh, it's 60.5. | |
| Oh, it's 60.3. | |
| Oh, it's 59.8. | |
| Oh, it's 61. It's like, come on, do something, man. | |
| Make me crazy the way that I love you. | |
| That's the only way I can love Bitcoin is if it's yanking me around like some epileptic fishhook, you know? | |
| Yeah. I'm just so used to it. | |
| The roller coaster. It's like Catherine Zeta-Jones gets drugged and you're like, you know, it's not so exciting anymore. | |
| So anyway, I just had that experience. | |
| And I'm not saying I'm proud of it, but I think I might have got a little bit addicted to volatility. | |
| Is that just me? | |
| I'll share this stuff. | |
| Okay, so 2017, I was, summer of 2017, the first like maximum ultra bull run for crypto, I was working at an exchange. | |
| And it's just every week we're like gaining $1,000, $1,000. | |
| And it's like, yeah, what are we up to today? | |
| You just wake up and be like, yeah, you know. | |
| And I also at the same time was, I think I'm going to take a year off of work. | |
| I'm confident crypto is here to stay. | |
| We're only going one direction. | |
| Needless to say, as soon as you rely on crypto being super stable, it will surprise you. | |
| No, for me, it's like oscillating between, do I have to sell a kidney or can I buy Argentina? | |
| That is just... Too crazy. | |
| It's too crazy. | |
| And now it's like, now the altcoins are starting to look good because Bitcoin got boring. | |
| You know, it's like, you know, you finally bag the supermodel of your dreams and you're like, our ugly crazy friend is looking pretty good right about now. | |
| Way too stable as far as we go. | |
| So, hey, Red Pill Songs, I'm sorry, I forgot. | |
| I shared the link, but I forgot to hit enter, which was about as intelligent as you could possibly imagine. | |
| Welcome. No worries. | |
| Thanks for having me. Thanks, Max. | |
| So, we were just talking about Yearning, burning things on our brain. | |
| I got a couple of articles to go through, but what's on your mind about things these days? | |
| Well, I can relate to the dopamine stability that's been happening over the last little bit. | |
| Are you in it for the gains or are you in it for the adrenaline rush? | |
| Because they're two different things. No, see, I'm not even in it for the gains. | |
| I'm in it for the highs and lows. | |
| I'm in it for the rollercoaster. | |
| You know, you can't do what I do without being a little bit addicted to the dopamine rush and then the crash. | |
| I'm not saying it's good for you. | |
| I'm not saying it's healthy. I'm just being perfectly frank. | |
| Like I would check in the morning and it's like, wait a minute, the price hasn't shifted by 10% in the afternoon. | |
| You're so boring, Bitcoin. | |
| I can't even tell you. Come on, do something. | |
| Get drunk and go and take a gun from a cop or something like that, you know? | |
| This is my GameStop. | |
| Yeah, I mean, when it's not stronking all over the place, it just feels like... | |
| And I knew that this was going to happen, right? | |
| Because this is pretty clear, I think, where the Bitcoin is at right now. | |
| I mean, some other firm bought a whole bunch of Ethereum today. | |
| They bought 17-point-something million dollars worth of Bitcoin. | |
| So now, they're just not going to be the dips. | |
| They're just not. And I knew this was coming. | |
| I think we talked about this before, that we're in the stage now. | |
| The dip is the buy. Whereas before, the dip is the panic and the sell, right? | |
| Now the dip is the buy. There are so many institutions, so many companies who need to get on the Bitcoin bandwagon that the dip is the buy, which means it goes down. | |
| I don't care about it going down anymore. | |
| I literally don't care. I stare at it with perfect zen-based indifference because I know it's just going to go whoop, right? | |
| Because people are just going to buy the dip and buy the dip and buy the dip. | |
| And that is, I mean, that's the new floor, right? | |
| That's the new floor. Like, I don't know, U.S., but Canadian sort of high 50s, low 60s. | |
| That's the new floor. It goes below that. | |
| People are like snapping it up. | |
| And I kind of miss it. | |
| I just kind of miss it, you know? | |
| You know when they get that lithium dosage just right? | |
| No, I'm just kidding. Yeah. So it's just kind of funny. | |
| All right. Anybody else? | |
| If you're not visible, you're still part of the conversation. | |
| If there's something that you want to add in before we start digging through some articles, I'm certainly happy to hear that. | |
| All right. You can, of course, I don't know, you raise your hand or something like this. | |
| Okay. What do you guys think of China? | |
| Oh, just listening. | |
| Okay. Okay. What do you guys think of the China thing? | |
| I mean, that China through, what is it? | |
| Upper Mongolia or something like that. | |
| I look at a crackdown. Crackdown, Jared. | |
| Either having an atlantic attack or want something to share. | |
| Because they are trying to cut down on the crypto mining. | |
| Now, just for those of you who understand, and this was something I felt a little bit behind on, because I was always associating crypto mining with the creation of Bitcoins. | |
| Like, you mine for Bitcoins, but that's not... | |
| The deal. That's part of the deal. | |
| But the whole crypto mining thing is just processing transactions, right? | |
| Solving the complex algorithms to process the transactions. | |
| It's an integral part of the whole ecosystem in outer Mongolia or upper Mongolia, some damn Mongolian place. | |
| Apparently, electricity is cheaper than my second girlfriend in high school. | |
| And so they're just mining like crazy. | |
| And now China, which produces more, like uses more coal and produces more CO2 than the rest of the world combined. | |
| China now, you see, it's nothing to do with controlling currency, controlling people, controlling dissidents. | |
| Now China is all about the environment. | |
| They're just so concerned about the it's touching. | |
| It's beautiful, man. | |
| It's so concerned about the environment. | |
| They're cracking down. | |
| And there's some talk of them trying to ban mining or trying to at least. | |
| So, Jared, you've been following this, I guess, based upon this gesture. | |
| You've been following this a little more closely. | |
| What's going on? Over the years, since 2012, this is nothing new. | |
| Every once in a while, China bans Bitcoin. | |
| China bans Bitcoin, you know, or cracks down on it in some way, shape, or form. | |
| It's old news. It's, you know, tell me another one. | |
| Like, how honest is China? | |
| I assume that China threatens to ban Bitcoin because China wants to buy Bitcoin. | |
| I mean, that to me is not, we're going to ban it, so people start selling it. | |
| Oh, look, we seem to be buying it. | |
| Because there are experimenting, as a bunch of central banks are experimenting with... | |
| Central banking crypto or central banking electronic currency. | |
| Now, is there anybody who wants to push back against that theory and help sort of the general population understand what that is or what that might mean? | |
| You want a description of central banking crypto? | |
| Yeah, so I mean China's looking at coming up with a crypto thing. | |
| A lot of central banks, even Janet Yellen has talked about America looking into a government crypto. | |
| So, it wouldn't be much more different than a combination of fiat and crypto where the state and they could bake in whatever they want into it. | |
| They can inflate it, deflate it, kill your address, open your address, release it, hide it, whatever. | |
| It's all theirs. For all intents and purposes, as far as I personally would be concerned, it's not a cryptocurrency, but effectively that's what it'll be called. | |
| Personally, in my opinion, it'll only serve to legitimize actual cryptocurrencies. | |
| There's an economist, I think he was talking to Janet Yellen, who was saying, you know what would be great? | |
| A crypto that loses value every day, which stimulates people to want to buy stuff in the here and now. | |
| The beautiful thing is, Steph, over the years, all of these crackpot socialist ideas, people have been trying with crypto. | |
| I kid you not. There's already one out there and it's beautiful. | |
| They get to go try it. Fantastic. | |
| Venezuela has, from my understanding, released a while ago a state-run crypto. | |
| And have you ever heard of it? | |
| Did it go anywhere? So to me, this is sort of like the government saying, we've got this great idea for the internet. | |
| See, what we're going to do is we're going to print the internet out. | |
| We're going to bind it. | |
| We're going to put it on shelves in a big building. | |
| We're going to index it on paper cards, and there's going to be horn-rimmed, blue-haired women saying, shh, all the time. | |
| Yeah. And be like, dude, you're just talking about taking the internet and turning it back into a library. | |
| That's not the internet. And it's like, no, no, no, but it'll be great. | |
| So to me, when the government is talking about a central banking crypto, those two are antonyms. | |
| Like they shake hands and the world explodes or something like that. | |
| That's like vampire and sunlight. | |
| Because the whole point of crypto is the decentralized aspect of it, the public ledger aspect of it. | |
| If you want it to be anonymous, it can be an aspect of it. | |
| The idea of a central currency, print what you want, bullshit crypto. | |
| It's, to me, absolutely ridiculous and absurd. | |
| Now, they may want to do it for some particular reasons, but everybody who wants to do it is simply confessing they don't have a clue what crypto is all about. | |
| The whole point of crypto is not that it's digital. | |
| I mean, your bank records are digital. | |
| I mean, it has nothing to do with the fact that it's digital. | |
| It has to do with the fact that it's a public, independently verified, decentralized, can't print whatever you want technology. | |
| And the only reason that the central banks would want to do it is so they could print whatever they want. | |
| So you've just completely reversed the entire purpose of it. | |
| Well, aren't they already printing whatever they want? | |
| I'm sorry? | |
| Aren't they already printing whatever they want with these stimulus checks? | |
| I mean, where is that going? | |
| The stimulus checks are going directly out of Joe Biden's bank account. | |
| Let's be frank. Well, actually, they kind of are because the Fed prints treasuries. | |
| The treasuries are bought by China. | |
| China donates to the Bidens. | |
| So, yeah, it does kind of work out that way. | |
| It's so strange. Never before in history has there been a situation where you cannot opt out of government money. | |
| I mean, I don't know how to opt out of it. | |
| Well, it's funny, too, because if you look at the transition from gold to Federal Reserve notes, you went from a, in a sense, decentralized and anonymous currency scheme called gold because they couldn't track every transaction in gold. | |
| They couldn't track who was handing back and forth gold coins or silver coins. | |
| And so you went to a central ledger with double-entry bookkeeping and banks that reported to the government. | |
| So you went from the Bitcoin of the time, which was gold, to central banking. | |
| Which was one of the things that made it possible for them to have this crazy national debt because once they figure out what everyone's buying and selling, they can use it as collateral for borrowing and all that. | |
| So to me, trying to go back to having some sort of central currency crypto is complete nonsense. | |
| And it's good because it will simply help highlight The value of crypto. | |
| Like the New York Times, it's really not a bad thing all around. | |
| So, sorry, Landry, you wanted to say? | |
| Well, I just saw that also on that point that Bill Gates is talking about how he doesn't agree with it. | |
| He uses too much energy. | |
| And if Bill Gates doesn't like something, I like it a lot more. | |
| Yeah, no, I do. I remember Bill Gates when he was building Windows, you know, for the PCs, that he was concerned that PCs would use too much energy. | |
| Oh, no, that's how he made his money. | |
| So that was totally fine. | |
| Totally fine. Now, it's a complete... | |
| You mean that nightmare that still updates at the wrong time consistently? | |
| I've got an analogy for it. | |
| That software is such a pile of steaming cow dung that didn't exchange to just get hacked by everybody with a yogurt cup and a piece of string these days? | |
| They've owned the market for decades. | |
| And it ain't just Windows, Google, all these companies, places. | |
| They've had a monopoly on the market for over a decade, and it's still a piece of trash. | |
| Yeah, it's absolutely not even close to secure. | |
| Now, there's something I wanted to talk about here. | |
| People really need to understand the conflict of interest when it comes to understanding how people are viewing Bitcoin. | |
| So listen, we happen to be early to the game. | |
| That's some wisdom, some luck, some philosophy, some knowledge of economics, some technical expertise. | |
| It's a variety of factors, you know, plus the magic unicorn of free will that I regularly ride in my dreams. | |
| So we happen to be early to it. | |
| So we just gained this magical superpower called credibility. | |
| Now, the people who are supposed to be the big financial advisors, right? | |
| The people who, oh man, we've studied this stuff. | |
| We're the top docs. We're the Warren Buffetts. | |
| We're the whoever of the universe and we just understand economics and these crazy people out there on the edges of the internet are mad. | |
| They missed, 100% missed, in fact, 200% missed, because they not only missed the biggest investment opportunity in the history of the world, 4 billion years, almost 13 billion years of universe history, it comes down to 10 years. | |
| And, you know, you could really say, I mean, geez, since we started doing these roundtables, what is it, tripled? | |
| Right? So, and not just because of the roundtables. | |
| Obviously, it's conceivable that No, it's not conceivable, actually. | |
| So, yeah, exactly. Right? | |
| So, everyone who's out there who claims to have a freaking clue about economics and investment and saving, and this is the biggest gold rush in the history of the planet. | |
| And everyone who missed it has a giant problem on their hands. | |
| Everyone who trashed it, everyone who put it down, everyone who said it was a scam and a Ponzi scheme and bullshit, they all have a big, big problem, which is that we were 10 years ahead of Elon Musk. | |
| Now listen, being 10 years ahead of Elon Musk is not a very bad situation to be in when it comes. | |
| I know everyone's had their various times that they got in, but everyone here has been in for a long time. | |
| So everyone who's out there, this entire financial system that's out there, everything from central banking to even regular companies that invest to stock market investors and brokers and advisors and all of the garbage financial instrument, Mobius strip, math wannabe doodleheads who are continually creating a system so bewildering that nobody can understand it except, well, nobody can understand that there's no exception to that rule. | |
| They all have a big giant problem. | |
| Which is that, quote, idiots like us out here in the middle of nowhere were right beyond anything you could imagine. | |
| Anything that you could imagine. | |
| And they're all completely and totally wrong. | |
| And they have a credibility issue. | |
| And you can't recover that. | |
| Like, there's a problem. You can't recover. | |
| Like now, oh, Bitcoin might have some value. | |
| Wow, genius. Ooh, wow. | |
| You know, really, that's like, you know, your house got washed away by a wave and you think that you say, oh, you know, there may be a tsunami coming. | |
| It's like, dude, come on, you know? | |
| Elon must be better off in his investors if they had done what they did or invested that seed capital in crypto instead. | |
| We should check back in about six months. | |
| I mean, over the years, like, he's been around roughly around the same time as crypto. | |
| Like, if that seed capital had gone into crypto, as opposed to what they did, don't get me wrong, they may have an amount of wealth with it. | |
| The problem is that restless people need something to do, and just the HODL thing, it doesn't help you fill up your day, and Elon Musk is a very restless guy, right? | |
| As someone rolling the dice with real estate, I understand. | |
| So, I just wanted to point out, That the returns on gold, the returns on stocks, the returns on bonds, the returns on real estate. | |
| I mean, good Lord, can you imagine 2019? | |
| You're like, dude, don't buy Bitcoin. | |
| Invest in commercial real estate. | |
| What? Pandemic? What? Oh, everyone's working from home now? | |
| Yeah. Ooh! | |
| The unicorn has switched positions and is now doing something unholy to me while I try and pick up my soap in the shower. | |
| So that... | |
| Complete lack of credibility and missing the boat. | |
| You know, all of these masters of the universe, all of these guys who are just so smart and they just know everything and they've lectured and they pompously windbagged everything. | |
| I hate to be right as usual. | |
| But I love to be right on this one. | |
| I hate to be right in general, but I love to be right on this one. | |
| So credibility is a huge issue because, I mean, as you know, trillions and trillions and trillions and trillions of dollars are handed over to people who were completely blind to this fundamental opportunity and, in fact, trash-talked it. | |
| Mm-hmm. And that to me is, I mean, there should be, of course, 50,000 people watching this live stream. | |
| Like, what the hell are people doing? | |
| I mean, I know people are watching it, but my God, like, what are you people doing? | |
| What's more important? I don't understand. | |
| No, Steph, it's like we're entering a new dark age where it's almost in every industry, the popular opinion is radically, not just wrong, but dangerous. | |
| Yeah. Look at modern medical advice. | |
| I'm not a doctor, by any means, of course. | |
| I agree. There's a lot of stuff. | |
| Pick the industry. Pick the avenue. | |
| Academia. The crisis and tragedy going on there. | |
| Anything. Public service, politics, whatever. | |
| It's all a nightmare. | |
| Well, all the socialists who say they want to help the poor. | |
| You know, now there's talk about reparations in America for slavery and stuff, which will be a complete disaster, of course. | |
| But come on, I mean, just, you know, if you wanted to, just set up a fund that only allows black people to invest in 2015 or 2010 or whatever and buy some Bitcoin. | |
| I mean, reparations would be solved. | |
| I would be completely behind that. | |
| So anyway. What if they have a cryptocurrency that's for reparations? | |
| It's like a reptocoin. | |
| Reptocoin. Oh, it's going to be a disaster. | |
| If it's voluntary, it's not reparations. | |
| You know, what's going to happen, too, is there's going to be talk of how much people are going to get in reparations. | |
| They're going to borrow based upon that, and then the reparations number is going to be much lower, and it's going to be devalued. | |
| They won't be able to pay it back, and it'll be 0708 with the blacks in housing just all over again. | |
| It's going to be a complete disaster. | |
| Anyway, so here's some latest data, right? | |
| $8 billion of on-chain transaction volume in the Bitcoin payment system over the last 24 hours. | |
| This is as of like 10 hours ago, right? | |
| $8 billion of on-chain transaction volume. | |
| That's more than $2 trillion annualized payment volume. | |
| More than $2 trillion. | |
| That's an eighth of the GDP. I'm sorry? | |
| That's an eighth of the U.S. GDP. Yes, and it probably is more than the US GDP if you don't take the government numbers these days, like if you subtract all of the crap out of that. | |
| If you subtract the government from the GDP. Yeah, like basically, while we five people are doing this live stream, the entire GDP of the West is completely collapsed because I don't know what everyone else is doing other than going to restaurants. | |
| So, you've got academics and elites and financial elites. | |
| They're all, oh, I wonder if Bitcoin has any value. | |
| Hello! Two trillion dollars annualized payment volume. | |
| I mean, it's just so weird. | |
| It really is like debating the, I wonder if the Titanic is going to sink or not. | |
| It's like, dude, you're already underwater. | |
| I don't really understand why this is such an issue. | |
| Again, people just don't want to back up and say how wrong they were. | |
| What do you guys think? Yeah. Imagine if you were a financial advisor over this last decade and you've... | |
| It's not just that they made the wrong call. | |
| It's that they were... | |
| Gosh, I don't know what to call this, but essentially their incentives, based on the life choices they had made and where they were at, were aligned with the wrong things in the long run. | |
| And based on that, they kind of had a blind spot. | |
| They have free will. They didn't have to, but, you know... | |
| They had a blind spot for the value that this could bring and things like that. | |
| So there's some kind of justice in the sense that these people who helped wreck things also had a blind spot for something virtual. | |
| I guess, sorry. The sad thing is they also point other people away from it. | |
| They advise other people not to get involved in it, which is terrible for everyone else. | |
| We're doing our best to try and fix that. | |
| Anybody else have anything they wanted to mention about that? | |
| I mean, if you spend any time in corporate America, there's no incentive for somebody in their 60s who's running a large company to do anything. | |
| They've already got the golden parachute. | |
| They just need to eat that stock price a little bit higher for a couple more years. | |
| So it's an innovator's dilemma. | |
| They're not going to change. | |
| They're not going to put anything at risk because there's no benefit directly for them. | |
| Now, for the company as a whole, You know, if you don't innovate, you're a dinosaur and you're gone. | |
| But if you've only got three more years to eke out, you know, and you can sail away on your, you know, multi-million dollar a year payout. | |
| We also live in a world where nobody's accountable for what they do, you know? | |
| Landry, you got a hand by your phone, by your picture. | |
| Yeah, that's the raise hand button. | |
| Oh, I thought you were just giving me the finger wrong. | |
| Okay, that's fair. Go ahead. | |
| So what you said just a second ago about how people were wrong and they don't want to like, I mean, they're kind of in a situation where it's embarrassing to admit that. | |
| I think that human nature and the reason there's a lot of problems is that We see inside today is because of that huge fundamental issue is people can't admit they were wrong. | |
| I think that is one of the best traits to have as a human being is, okay, I was wrong. | |
| I can process this information and use what I know now to say it's no longer relevant. | |
| But so many people I know just can't do that. | |
| And it really, really just is the line dividing so many people that I know. | |
| But see... This is where my cold-hearted Anglo-Saxon kick out the people who didn't save for winter brain comes in. | |
| Because if you hand over your investment, your retirement plan or whatever, to somebody with no imagination, no curiosity, and who can't admit that he or she is wrong, well, I guess that just makes a Bitcoin cheaper for everyone else, right? So from that standpoint, Or if you have to wait for hyperinflation to actually hit before you think that a limited resource like crypto or at least Bitcoin would be a value. | |
| I mean, it's like, okay, well, the money flows, the resources flow to the more competent, the more able, the more curious, and those who are able to admit that they are wrong. | |
| And so if you don't want to do that, it's like, okay, then just, you know, give your house to someone who does because that's what the market's going to do. | |
| Being in that position, someone who for decades and years has been not just on the wrong side, but committed to it, vociferously pushing it. | |
| Look at environmentalists who, everything they push, everything they do, it's worse than just having left the market alone to begin with and creates an obscene amount of pollution and toxicity beyond and above that. | |
| Can you imagine being that person in 30 years and realizing that not only was I wrong, I was the bad guy. | |
| I was the one doing the great harm. | |
| And can you imagine also having the wherewithal to own that? | |
| It's kind of like the masks. | |
| Those are the new cigarette butts. | |
| The environmental people, they're usually the same ones pushing, like masks, double masks. | |
| And now I see masks on the floor, out the parking lot. | |
| More often than I see cigarette butts. | |
| And it's like, they're not going to own up to that. | |
| I'm still waiting for a study that shows me that masks work. | |
| That's all I'm happy to be wrong about. | |
| I'm just waiting for that study, man. | |
| Just give me the double-blind experiment that shows me that masks do anything other than give people a ritual that allowed them to go outside. | |
| It's like a mad dance. | |
| Okay, so what percentage, this is from March the 4th, what percentage of institutional investors now say it's likely their firm will invest in cryptocurrencies or offer trading services? | |
| This is according to a JP Morgan report. | |
| I'm just going to throw this out there. | |
| If you're in the chat watching and listening, you can throw your estimate in here. | |
| What percentage of institutional investors now say it's likely their firm will invest? | |
| If I recall, it was over 20%. | |
| Go on. Anybody else? | |
| 22%. Landry is running away from the math. | |
| I'm going to go with five. I was about to sneeze. | |
| I didn't want to sneeze on the camera. Oh, sorry. | |
| I thought you just wanted to show us your ass. | |
| Okay. And I appreciate that shot anyway. | |
| So we got 33%, 76%, 20%. | |
| Anybody else? | |
| Anybody else? No. | |
| So, yeah. So, that's good. People are pretty close, right? | |
| So, the actual answer is 22%. | |
| 22% of institutional investors now say it's likely the firm will invest in cryptos or offer trading services, according to a JP Morgan report. | |
| All right. Quick question. | |
| Here's another, here's a number one. | |
| I don't know if you guys find guessing games annoying or not. | |
| Maybe you know, right? So, as of March the 3rd, Bitcoin had transferred how many dollars worth of money or worth of value? | |
| With no help from banks, no help from governments, no help from just how much value had gone through the Bitcoin network as of March the 3rd. | |
| 25 trillion. | |
| I'm pulling a wild... | |
| That's a big number. Well, if it's ever, that sounds reasonable. | |
| I have no idea. I'm bad at this. | |
| Red Pill, come on, man. | |
| Let's say $750 trillion. | |
| $750 trillion. | |
| That's optimistic. Is that according to the dollar value now or the dollar value next year? | |
| Because next year you could be great. | |
| All right, let's just see if anybody else has got here. | |
| We've got the guy who continually says $69. | |
| I believe that's what you want to be typing into another box if you're going to be searching not here. | |
| This one. All right. | |
| So all of them. | |
| Oh, yes. Thank you, Adam. | |
| That's very... 1.3 trillion, 2 trillion, 10 trillion. | |
| So the actual answer is $3.5 trillion. | |
| It's transferred $3.5 trillion. | |
| Now, here's the funny thing, because we all guessed more, and I would have guessed more too, but that's because we're so embedded in the space. | |
| Now, I'm sure you guys understand this, the lower the number, the more fantastic it is. | |
| Why? Why is it great that the number is a lot less than what you think it is? | |
| Is it still early? It shows how early we are. | |
| It shows how early we are. Yeah. | |
| In other words, the Bitcoins are worth, what, 63, 64,000 Canadian, and they've only transferred three and a half trillion dollars over the entire history of Bitcoin. | |
| It's glorious! | |
| It's glorious! Just how far up we can go. | |
| Here's a question. | |
| Here's a question. How long did you spend learning about algebra? | |
| Too long. Is everyone glazing over yet? | |
| To do your differential equations. | |
| Okay, who here is good at algebra? | |
| Raise your hand. No way, man. | |
| Yeah, we got a semi? | |
| You've got a semi-chubby for algebra there? | |
| Okay. So, I mean, we spent, I mean, basically what? | |
| It sort of kicked in around grade 7 or grade 8. | |
| Now, I went to grade 13 because it was sort of back in the day, although I managed to do some extra courses and got out of that prison half a year early. | |
| But you spent, you know, six years, seven years learning algebra, right? | |
| Right. | |
| And now when was the last time you used algebra? - Probably in algebra. - Probably in algebra just to pass the test, right? | |
| Probably not consciously, intentionally, but doing some construction stuff, you know? | |
| Yeah, so the guys, when I did my gold panning and prospecting, one of the guys said that he used calculus. | |
| They had to pull something up from really far under the ground, but they had to pull it up at such a rate that it lost radiation as it moved up at some uranium thing, and he did the calculation that way, so it's the only time he ever used it, right? | |
| So, we spend all this time now, of course, in Canada, you know, red pill, what else do we study that we rarely use? | |
| Well, we do calculus. | |
| We do a ton of different math stuff you never use. | |
| Or French. You study the French in general. | |
| You study the French. Not real French, but Quebec French, which is kind of like gutter French. | |
| Oh, no, I don't mean that, lovely people from Quebec. | |
| Because Quebec French is a beautiful language. | |
| Like in Paris, they say, oui, would you like some? | |
| Oui. And in Quebec, oui. | |
| So you learn all this stuff. | |
| How much time do we spend learning about planning for taxes, how the market works, how stocks and bonds works, how interest and debt accumulation works, how to be an entrepreneur, any of that kind of stuff, right? | |
| Any of that stuff. Nothing. | |
| Nothing about that stuff. | |
| Ignorance of the law is no excuse and there's no required course on law. | |
| All right. Last question. | |
| What percentage of Twitter employees own crypto? | |
| 50%. 15%. | |
| 35%. | |
| The entire engineering department. | |
| Right. I don't know the percentage, but it's 90% ETH for sure. | |
| Definitely not the fact checkers. | |
| Right. So there's nobody who owns crypto in HR. Is that what you're saying? | |
| You're probably right. So 75%. | |
| 75% of Twitter employees own crypto. | |
| Which, I guess, leads me to the question, if you own crypto, why the hell are you working for Twitter? | |
| Of all the things, go work with Jared, for God's sakes. | |
| The obscene, like, cushy job that they have. | |
| Like, I've worked for Coinbase, and this was a San Francisco-based, like, you know, big tech company. | |
| It's like, it's so... | |
| They got so much. | |
| Right, right. Here's a Bloomberg opinion. | |
| This is from March the 2nd. | |
| Are you buying Bitcoin or joining a cult? | |
| With meme investments, it's increasingly hard to tell the difference. | |
| What's wrong with a cult? | |
| We have absolutely no history on this show of being compared to a cult. | |
| Zero, if I remember rightly. | |
| And it took quite a lot of electricity going through my head to remove all of those memories. | |
| But you see, this is one of the four-letter words that they're going to hit you. | |
| This is not some crazy guy who's wiping his ass on the wall and then typing with his balls, right? | |
| This is a guy... This is the Bloomberg. | |
| Seriously Bloomberg, right? So... | |
| Quick question for those of you who've studied history, maybe it's people here, maybe it's people in the chat as a whole. | |
| What happens to countries that say, you know, I don't think that central banking is for me? | |
| Ooh. I think I would like to provide some alternative to the U.S. dollar. | |
| Maybe a basket of commodities, maybe an oil-backed currency, maybe a gold-backed currency. | |
| Anybody know what happens? | |
| Didn't Gaddafi get a serrated suppository, if I recall correctly? | |
| Yes. I do believe that they have rather aggressive anal procedures with bayonets, or they dragged out of spider holes and end up being hung, right? | |
| So if you try to get off the U.S. dollar... | |
| Ooh, that's not... | |
| You know, that's like having something on the Clintons. | |
| Like, this is just a very bad day for you overall, right? | |
| And so... It's so strange to me that something like this, you know, decentralized and peace and freedom-based, and you can't print it like crazy. | |
| And I did the speech many years ago about Bitcoin versus war. | |
| You can't run a modern war. | |
| Like, modern wars were all based on fiat currency. | |
| And that's why fiat currency came into place in the first place. | |
| Thank you for bringing that up. Yeah, yeah. | |
| You cannot run, like, you can run a defensive war on Bitcoin. | |
| Absolutely. But you can't run an empire on Bitcoin. | |
| You can't run an invasive war on Bitcoin because you can't just print whatever you want. | |
| And that's why all the countries in the First World War had to get off the gold standard. | |
| If they had to stay on the gold standard, the First World War would have lasted about six months rather than over four years. | |
| So... And gold was garbage enough compared to Bitcoin. | |
| So, I don't know. | |
| It's just so strange to me, this perspective, that your longevity shortens considerably if you are a political leader who tries to get off the US dollar. | |
| Is it worth giving up on empire, regime change, invasions of countries all over the world, and 750 military bases that the US has all over the world? | |
| Is it worth exploring Bitcoin for the simple, not endlessly disassembling human beings overseas for fun and profit? | |
| Is it just worthwhile for that? | |
| I mean, imagine Joe Biden wants to go drop bombs on Syria. | |
| I guess you don't have to imagine it anymore. | |
| And he's like, he has to go to a crypto community and say, hey, would you guys... | |
| Could you guys donate me some crypto so that I can go drop some bombs in the Middle East because Bashar al-Assad of Syria is actually protecting Christians? | |
| We can't have that because we're basically Satanists? | |
| I mean, no! Nobody would donate to that. | |
| Imagine a war. Could you have a war on drugs? | |
| Where you say, oh, hey, listen, guys, could you just donate to me half of your crypto so that I can go throw a bunch of non-violent, non-offenders in prison? | |
| Nobody's going to go for that. And those who do go for it and those who don't, those who do go for it are going to get even more bill until one guy ends up with $40 billion a month bill. | |
| Nobody's going to go for that. So just the amount of human freedom that's embedded in Bitcoin. | |
| So it's like everyone who's enthusiastic, it's a cult. | |
| It's a cult. But the people who are actually... | |
| Killing, pillaging, destroying, overthrowing governments, destroying infrastructure, dropping incredibly genetically damaging armor-piercing uranium shells in Iraq and other places, or openly defending a pedophile regime in Afghanistan. | |
| Well, that's just common sense. | |
| That's good economics. But it's a cult when you're enthusiastic, not just about the money involved in Bitcoin, but the possibilities for peace and accountability and responsibility. | |
| That's just amazing to me that people are like, oh, it's Bloomberg. | |
| Are you buying Bitcoin or joining a cult? | |
| Well, you know what? If you want to get off Bitcoin, you know what's not going to happen? | |
| No one's going to kill you. | |
| And that seems like a plus, because it seems to me it's more of a cult if you try and get out and they try and kill you. | |
| It seems to me, or let's say you want to stop using the U.S. dollar and you're sort of in America, that's, well, it's not good because you've got to pay your taxes, right? | |
| So anyway, that's pretty wild to me. | |
| That brings me back to, like, so back in 2008, 2011, okay, it was the cypherpunks. | |
| They got crypto going, they got Bitcoin going, and these people had philosophy, values, and things they were trying to accomplish in the world. | |
| It was real stuff. | |
| When it comes to groups digging down on Bitcoin because it's burning energy or Bitcoin maximalists casting out all other cryptos, it's like, you know, this mission is way too important for any of that. | |
| Crypto could be the end of war, as we understand it, practically. | |
| I don't care which one wins as long as the job gets done. | |
| Well, and you can't enslave the next generation for vote buying in the here and now. | |
| You just can't do it. You cannot create unchosen obligations to repay boomer debt to the next generation through crypto. | |
| You just can't do it. | |
| In the early days, that was at least half the conversation. | |
| These days, a lot of it's mainly like hype and boom. | |
| Yeah, yeah. Where's my games? | |
| You know, where's my Lambo? | |
| Yeah. But that's not the way it was back in the day. | |
| People understood far more and far better what was at stake. | |
| I'm not saying the folks nowadays don't, but there's a lot more of the others. | |
| And that reminds me of an old website that is actually still around, Bitcoin Not Bombs, which is a website dedicated to making this case. | |
| Right, right. And you also can't trade many multiples of them, at least not in the current architecture, in the way that you can with the silver garbage, these silver notes that just float around that vastly dwarf the amount of silver production that's out there. | |
| I don't know if you guys have looked into that, but it's completely insane and not technically legal, but everyone does it anyway. | |
| I got an analogy for like the central bank cryptos, right? | |
| It goes back to our conversation about women earlier. | |
| So it's like with Bitcoin, you found that unicorn on the hot crazy matrix and going to the central bank cryptos like, no, she's not good enough. | |
| I'm going to break up with her and I'm going to go, you know, an ugly chick who steals from me. | |
| And that's the one for me. | |
| She's the one. The woman you cannot upgrade from, and I'm just going to go, you know, blue-haired, fat. | |
| My money just disappears. | |
| Yeah. You just don't have enough tattoos and herpes for me, honey. | |
| I'm afraid I'm going to have to reschedule my attraction. | |
| Have you ever been in that situation? | |
| I think most good, decent guys have, where, like, there's this woman, and you just head over heels for her, and she's like, she'd be great for you, you'd be great for her, but she's like, no. | |
| The tattooed guy. | |
| The guy without a job. | |
| Yeah. The guy who's got the three pit bulls, you know, Adam Kokesh style. | |
| The guy who's got, you know. | |
| 15 years older. Yeah. | |
| Oh, yeah. The guy with a true trail of like, okay, the problem is you haven't been divorced three times. | |
| Yep. | |
| So I just, you know, you just, you don't turn my, you're not dangerous enough for me. | |
| Right. | |
| And, and then she's like sobbing on your shoulder. | |
| You know, he just treats me so badly. | |
| I just want someone like you. | |
| Who's not you. | |
| So, yeah, that is. | |
| I've been told that before. | |
| I've been told that before. | |
| I want someone like you, but not you. | |
| Yeah. What does that mean? | |
| Well, it means there's a welfare state. | |
| So those women don't have to be that responsible because the state will catch their fall, right? | |
| So somebody, do you guys know about this? | |
| Somebody said, hello, Putin in Russia is doing it. | |
| Total cut of central bank end of 2021. | |
| Is Putin really trying to get out of the central banking thing? | |
| If you're shady, chic. | |
| I think I bought you in a drugstore once. | |
| Shady Chic, if you could give me a link to that, I'd appreciate it. | |
| Because, I mean, the hate on for Russia is truly insane. | |
| I assume it's because Russia speaks the truth about the origins of communism and how bad it is. | |
| So all of the lefties in the central, in the mainstream media, it's like everyone who does anything ever wrong. | |
| It's always Russia, Russia, Russia, right? | |
| But this hate on for Russia, maybe it has to do with they're looking to get out of the central bank. | |
| But yeah, so he's saying Putin is doing it. | |
| You might be surprised how many people would donate to Satan's causes. | |
| Completely unrelated. | |
| Freedomain.com forward slash donate. | |
| Totally unrelated if you wanted to help out. | |
| All right. The other thing, too, is expecting the mainstream media... | |
| To write about Bitcoin with any intelligence is really expecting a universe that just does not exist. | |
| Oh, was it Michael Crichton who came up with the late Michael Crichton came up with this law? | |
| I don't know if you've ever heard it. And the law goes something like this. | |
| If you know something about anything, and then you like within detail, and then you read about it in the mainstream media, You're like, oh man, you're not even close. | |
| You have no idea what you're talking about. | |
| It's like being technically knowledgeable and watching Independence Day. | |
| Do you remember that? | |
| Sounds like you have a vivid memory of that. | |
| What bothered you about Independence Day? | |
| There's a lot of physics that they just got completely wrong in that movie. | |
| I mean, yeah. Well, and also, how easy is it to create a virus that impacts an alien operating system? | |
| And why on earth would it have an Earth-compliant USB port? | |
| Not if it makes any sense, right? | |
| But Bill Pullman has nice hair. | |
| When you read something in the mainstream media, now, the most bizarre thing is to read something about yourself in the mainstream media, and God help you if that ever happens to you. | |
| Like your Wikipedia page? | |
| I'm sorry? Your Wikipedia page is one of the worst things I've ever seen in my life. | |
| Yeah, that's wild. | |
| I mean, that's psycho stalker stuff. | |
| You know, that is completely crazy stuff. | |
| But... Here's the thing. | |
| So the right about you, they'll almost completely get it. | |
| The complete opposite of the truth. | |
| But even if it's just something kind of innocuous, like when they talk about Bitcoin, they never have a clue what's going on. | |
| And so Michael Crichton was saying, but the important thing is that what people do is they say, well, I know something about this topic and the mainstream media gets it completely wrong. | |
| And then they turn to the next article and it's something they don't know anything about. | |
| And they say, well, I'm sure they got this one right. | |
| It's like, no. Because your neighbor next door who knows something about that new topic that they're writing on is doing exactly the same thing. | |
| They get everything. And the other thing too, of course, the mainstream media. | |
| I mean, if you were smart enough to write intelligently about Bitcoin, the last place you'd be working is the mainstream media. | |
| Good point. No, Steph, I make that point. | |
| Yeah. Yeah. As you mentioned that, I've seen over and over the years, like someone who's like, oh, I just found about Bitcoin or I just quit my corporate job after finding out about crypto six months ago. | |
| I'm going to work for such and such. | |
| Yeah. They've increasingly have jumped ship. | |
| Oh, yeah, why on earth would you work for a decaying industry full of corrupt leftists when you could be out here on the hinterlands and building a new world, right? | |
| I mean, just look up how much, go on PayScale or Glassdoor or whatever, look up how much an editor or writer makes at New York Times. | |
| No, no, but they don't do it for the money. | |
| No, no, they don't do it for the money. | |
| They do it for the sadistic pleasure of calling people up and saying, oh, yeah, no, we're going to be writing an article about you, and I just want to hear you beg. | |
| Oh, are you scared? | |
| Yeah. Oh, I smell that adrenochrome. | |
| Oh, that's good stuff. | |
| Oh, tell me more about how nervous you are about me writing an article. | |
| They like it for the sadistic bullying pleasure of this, right? | |
| Because, I mean, this is the crazy thing. | |
| I don't want to get a whole rant about the media, but the crazy thing about the media is the mayor of New York openly signed orders that led to the deaths of tens of thousands of people. | |
| No, no biggie. | |
| And then covered up the numbers. | |
| Covered up the numbers. Against the law, as far as I understand it, right? | |
| But, you see, he may have said something untoward to some females, though. | |
| He may have said a few rude things to some, oh my god, okay, tens of thousands of grannies that had to be cremated to hide the evidence. | |
| Not so bad. Oh! | |
| But a couple of untoward statements. | |
| Oh my, that's just completely mad. | |
| All right. Now, Bitcoin in Africa, pretty wild thing. | |
| Bitcoin grew 30% year over year in the African market. | |
| They could leapfrog the whole establishment of financial institutions. | |
| It's actually amazing because they get to skip a lot of infrastructure that now in the West is pretty much ailing. | |
| They don't have to do landlines. | |
| They can skip a whole bunch of stuff that is costly to maintain. | |
| It was costly to put in. | |
| It's expensive. You know, they're never going to have landlines. | |
| Cellular, they can skip right ahead to 5G and be transacting in cryptos. | |
| Oh, you didn't say 5G, did you? | |
| Did you pull the pin on the 5G grenade? | |
| Oh, yeah. Oh, dude. | |
| Let's just, let's talk about Jews now. | |
| Because, you know, you pull the pin on the 5G grenade and it's like, here come the comments! | |
| All right, LTE, LTE, all right. | |
| Is this going on this shoot? | |
| Yeah. No. | |
| People are like, why don't you turn the comments off on BitChute? | |
| It's like for the same reason I flushed my toilet, man. | |
| It's like the same three people I've noticed too. | |
| Oh yeah, I know. It's really sad. | |
| And I assume that they're all lefties just looking to discredit the channel by posting all this anti-Semitic stuff and blah, blah, blah, right? | |
| So that's pretty wild. | |
| And I will say this to my friends in Africa, and I assume that everyone in Africa is going to be my friend at one time or another because we pro-crypto. | |
| But here's the thing. You guys need to move ahead on crypto. | |
| You've got to move ahead on crypto. | |
| You've got to dump all of that central banking shit. | |
| And I'll tell you why. Because... | |
| China, in particular, is sniffing around and offering a whole bunch of money to your government in return for, technically and economically speaking, your souls and the souls of your children. | |
| And this dollar diplomacy stuff that they're doing, this is how China takes over places, right? | |
| And other totalitarian regimes as they come in and offer you a whole bunch of free stuff. | |
| Because, you know, one thing that Christianity taught me is that free stuff... | |
| Doesn't really lead to very good things. | |
| If I remember rightly, you know, the devil will say, hey, here's some free stuff. | |
| Just sign here. Next thing you know, don't enjoy the free stuff. | |
| Got no soul. Go to hell. It's economic hitmen is what they are. | |
| Economic hitmen. I've read that book years ago, right? | |
| And it's quite right. They come in, they offer you all this free stuff. | |
| And next thing you know, they just, they own you. | |
| They own you. They sucker you in with the easy payments, man. | |
| The easy payments. Yeah. | |
| Well, I mean, in their defense, they're born in a playbook right from the IMF. That was basically their strategy for 25 years. | |
| Yes, but the IMF, when it's responsible to some relatively democratic, relatively free country, has a press and a population that sometimes is going to rail against this stuff, and Bono's going to go around warbling about it's unfair to ask people. | |
| People in Africa, they can't pay back their debts. | |
| Come on, man. That's for white people. | |
| White people pay back their debts. | |
| It's so racist, right? Oh, black countries can't pay back their debts? | |
| Well, why not? Anyway, so, yeah, you've got to get on the crypto because otherwise the dollar economic hitman stuff that China's going to do... | |
| And China, the Chinese people... | |
| You know, whites, I mean, I won't speak for you guys, but as far as I've observed it, whites have, you know, the big giant white guilt button that you can pound for colonialism and stuff like that. | |
| And you get lots of concessions and so on. | |
| That's not going to work with the Chinese, man. | |
| And you're going to be like, hey, we really miss those white people because they were kind of easy to manipulate and bully. | |
| Chinese, they're not going to play that way, right? | |
| And that whole scam is going to kind of come to an end, which I think is pretty terrible. | |
| Russia is white, Christian, and conservative, somebody said. | |
| That is true. And I remember people being pro-Russia when Russia was communist, but when it went Christian, conservative, nationalistic, and Russia first, yeah, it just became the devil. | |
| Sorry, somebody was going to say? I was just saying Russia is kind of masculine, too, compared to other nations. | |
| Oh, yeah. Did you notice China is now trying to butch up their boys? | |
| Mm-hmm. You know, and I guess they're looking at drag queen story time in Western libraries and saying, I'm not sure that's the future as a whole. | |
| Plus, they're also experimenting with IQ 180 baby engineering. | |
| Do you remember? Well, we have dysgenics. | |
| Anyway, so... Steph, do you remember the scene in Braveheart where he's like, God forbid the enemy saw my son, it would encourage him to conquer the whole nation, conquer the whole country. | |
| I've never seen Braveheart. | |
| What? I've seen the memes, and I will occasionally paint my face blue as part of role-playing, but that's a whole separate issue. | |
| But I've never actually, and I will, of course, wear a dress, but I've never actually seen it, so... | |
| Is Steph going to participate in the Odyssey livestream launch? | |
| Seems like it could be a big thing. | |
| Don't know, but send me something at operationsoffreedomain.com and I will look into that. | |
| I was radicalized by Steph to be interested in my financial stability. | |
| It's the kind of radicalism that we can live with now. | |
| Does anybody else have anything they've heard of this last week or so that you wanted to toss into the mix? | |
| I've got more, but I don't want to dominate. | |
| So there is one. | |
| I'm into a bit of crypto Bitcoin news. | |
| Someone posted a bit of research. | |
| It's always been a speculation about who was Satoshi Nakamoto, because of course, Satoshi Nakamoto... | |
| It was me! Sorry, go ahead. | |
| It was the author of the Bitcoin white paper. | |
| And, you know, was it one person? | |
| Was it many people? Who was it? | |
| There's not a lot. People don't know. | |
| But a gentleman named Lynn Sassaman, who was kind of a famous guy who worked in related industries and worked with people that were known to have worked on Bitcoin, who Wait, when we talk about suicide, in this realm... | |
| I'm almost a little... | |
| It's the baker that does the nail gun to the head type thing. | |
| From Pine, three times. Not to get into... | |
| Two shots to the head. I'll let folks do the Google search on their own. | |
| L-E-N-S-A-S-S-A-M-A-N. Or not Google. | |
| Do dot go. Something less evil. | |
| Yeah. I mean, they dropped that whole don't be evil thing. | |
| You know, it was a heads up. | |
| No, listen, you can have the don't be evil, but then you can't have an HR department. | |
| I mean, you got it. So somebody, sorry, there's more that you want to say about that, Jared? | |
| It looks like I read the article. | |
| If folks want to find it, it's at news.bitcoin.com. | |
| And it's one of their front page articles. | |
| It's... Interesting, you know, a little bit of Bitcoin history. | |
| All right. So somebody keeps asking... | |
| Sorry, let me just find it here again. | |
| Somebody keeps asking, I've been holding XRP for a long time now. | |
| Should I sell and buy something else? | |
| Which one do you recommend? | |
| Now, I got to tell you, I know a trap when I see one. | |
| Nobody is going to answer that because they're too smart. | |
| Don't ask anyone else when you should buy, when you should sell, because if they genuinely know, they're going to tell you the opposite so they can make money. | |
| Seriously, if they think that XRP is going to go up, They're going to say, oh, you should totally sell it. | |
| Why? Because it's going to help drive the price down. | |
| They can buy it and all of that. | |
| So nobody's your mom. | |
| Nobody's your dad. Nobody's going to wipe your butt. | |
| You've got to do it yourself. And nobody is going to sit there and help you make money. | |
| I'm sorry, this is just a fundamental reality. | |
| Maybe your very, very best friend. | |
| But of course, if your very best friend was answering this question, you wouldn't be asking. | |
| This is not a real question. | |
| You've got to think for yourself when it comes to investing. | |
| You cannot possibly ever rely on anyone else to give you objective information that nobody is in possession of because the price of crypto is dependent on such a wide variety of factors. | |
| Everybody's individual choice, everybody's individual preferences, everybody's individual circumstances, which can change at any time. | |
| People are losing a lot of money in the stock market, so they're going to have to liquidate crypto to cover their losses. | |
| There's a whole bunch of things that are going on. | |
| You got all the stock strong stuff that's going on with GameStop and AMC and other places, and people are making money. | |
| Maybe they put it into crypto. They're losing money. | |
| They got to sell crypto. Nobody knows where the price of this is going to go. | |
| So anybody who tells you, oh, yes, you should sell this and you should buy this, Anybody who tells you that is just lying because they don't know. | |
| And if they did somehow know, I'm not sure that would be legal, but if they did know, they wouldn't tell you. | |
| So, trying to lean on other people to tell you what to do in investment situations, particularly with crypto, in my humble opinion, you guys can tell me if you think I'm wrong, please don't tell them whether you should buy or sell XRP, but it just bothers me because I get these questions a lot, you know, should I sell this? | |
| Should I buy this? It's like, you must think for yourself. | |
| Same here. Same here. | |
| I don't mind sharing, like, I like this, I personally hold this, I don't hold this. | |
| And I'm trying to think, like, what kind of questions could they better ask about that? | |
| I have an answer that's probably more suitable to what he is asking. | |
| And if you want something that's like XRP, similar technology, that would be Stellar Lumens because it's a fork. | |
| Now, you know, as a guy who studied theater, as soon as you say Stellar, you know what I have to do, right? | |
| Stellar! Yeah, I have to do that. | |
| And then I have to say, ow, my ear. | |
| But yeah, I just wanted to mention, that's just, you know, I could never invest in that because I'd have to keep tearing my shirt off and screaming up at New Orleans. | |
| I just like, I can't do it. | |
| Would you like to buy some Stella? | |
| You can't do it. | |
| You can't do it. So there's no, there's not an economic reason. | |
| It's just a fact. It's just a fact. | |
| I love the Tennessee Williams play so much that I just couldn't do it. | |
| Hey, look at that. Crypto went up again. | |
| During the conversation itself. | |
| Now I'm a 65k Canadian. | |
| It's stoking up all the stimmy checks right now. | |
| Well, so now that's an interesting question, right? | |
| That's an interesting question. | |
| Now, again, we're not telling anyone what to do, obviously. | |
| But, you know, if you got a windfall, if you got a windfall, there's this principle which I like in terms of investing, which is, you know, found money. | |
| You ever have that? You know, when I was younger, it'd be like you go through your pants and it's like, whoa, 20 bucks? | |
| Woohoo! We're going to eat Greek or something like that. | |
| Like found money, like in the stimmy check is kind of like found money, right? | |
| Oh, look, we just went over 65K Canadian. | |
| So stimmy check has found money and you can, you know, you can blow it. | |
| You know, I was reading about this guy who runs a Nike store. | |
| Stimmy checks come in and the sneakers get cleaned out. | |
| Now, you know, sneakers are cool. | |
| Don't get me. But don't be the guy with the $40,000 sneakers. | |
| You know, the money that you could have blown on some useless crap. | |
| Useless crap is like the death of the planet. | |
| Don't even get me started on useless crap just being the death of the planet. | |
| I could bore everyone to death with that stuff. | |
| Useless crap? You guys have to check out bitcoinorshit.com, which is basically the most hilarious website where you can type in... | |
| What is it? | |
| Bitcoinorshit.com? Bitcoinorshit.com. | |
| You gotta check it out. It sounds like a laxative product. | |
| So it just goes into like if you had bought this book when it came out or this hypey shoe or this instant pot when it came out, how much Bitcoin you'd have and how much it'd be worth. | |
| It'll make you sad if you chase trends in any way. | |
| I got you. I'm on the website. | |
| Give us a few here. | |
| Give us a few. If you bought Bitcoin, instead of fucking Google Glasses, you'd have $173,551. | |
| Instead of being a glass hole, you could be a hodler. | |
| Okay. 3.36 Bitcoin. | |
| What about, I don't know, some Xbox or, like, is there anything like that? | |
| It goes into Xbox, yeah, it's in there. | |
| Okay, if you had bought Bitcoin instead of a fucking Instant Pot, you have $24,616,667. | |
| Wait, instead of a what? | |
| Instant Pot? An Instant Pot. | |
| Oh, the Instant Pot came out in 2010. | |
| That's why. What is an Instant Pot? | |
| Oh, it's a pressure cooker. | |
| They're actually pretty cool, but not $25 million cool. | |
| It's weed on the fly. Boom. | |
| That would be 476 Bitcoin. | |
| Avengers tickets, the movie, you would have instead $133,340. | |
| Oh, God. Oh, that hurts, man. | |
| Beats Solo. When you see people who often rely on STEMI checks, you know, for their bread and butter, wearing Beats Solo HD, they would instead have $205,752,820 and other people would not have to pay for their living for the rest of their lives. | |
| Right. Wait, if they bought a set of headphones? | |
| These Beats Solo headphones came out at 12-1-10. | |
| Okay, now the 2010 stuff is, you know, that's really reaching deep into the channels of time. | |
| What else we got? All right, 2016 Fitbit, you would have $17,029. | |
| Wow. It's not like I got a list of things to pay for. | |
| I'm actually feeling kind of dumb because I own a Fitbit. | |
| I, too, have bought and broken a Fitbit. | |
| This one's showing the art of the argument, Western civilization's last stand. | |
| No! No! | |
| No! Did you see that? | |
| He just totally turned on us, man. | |
| He lured us into his cave of Bitcoin or shit, and then he's like, the Shiv, come in here, man. | |
| It's dark. He's like a red Max headroom. | |
| Wow. Well, this is what I was talking about a couple of shows again. | |
| Like, if you had spent two bucks a day on Bitcoin over the last six years, you'd have a quarter of a million dollars. | |
| Easy. Well, more now. More now than back then, right? | |
| What about 3D glasses? What would they be worth now? | |
| I don't got a list. I push a button, it just randomly pops one up. | |
| I got the Tony Robbins seminar. | |
| You would have $162,000. | |
| You'd have $62,000 if you had... | |
| $162,000. | |
| Ouch. All right. | |
| This is why you just have to hold yourself in a corner, rock gently, and say, there's more to life than money. | |
| There's more to life than money. | |
| If you'd gone to the Tony Robbins thing, then you'd be working at the pizza shop and being a real estate guy at the same time. | |
| Oh, and that's the truth, right? | |
| Yeah, yeah. Wow, that's wild. | |
| That's wild. Now, the Fitbit thing, you know, you've got to have your health. | |
| There's no point in having Bitcoins if you don't have your health, and Fitbit helps keep you healthy. | |
| That's a good thing, right? | |
| Steph bought a Fitbit. I'm sorry? | |
| I said Steph bought a Fitbit, obviously. | |
| Yeah, yeah. No, I don't have a Fitbit, but yeah, you can drive yourself crazy with that stuff. | |
| But, you know, the important thing is, let's close off with this. | |
| Look, if there's more you guys want to talk about, I'm happy to. | |
| Let's close off with the people who feel that the ship has sailed. | |
| Because I get these messages all the time. | |
| That's great. Great topic. | |
| Let's take this clockwise. | |
| And I'll jump out of the first round. | |
| And let's start with the bottom. | |
| You know, Mr. Backstabber. | |
| Sorry, Red Pill. I just misread that. | |
| It looked Arabic for a moment for me. | |
| But that's because the blood is draining out of the side hole from the shiv. | |
| But so for the people who say, you know, Bitcoin has gone from 3000 Canadian to whatever it is to 65. | |
| It's now 65 to 82. | |
| And, oh, you know, I missed out, man. | |
| I missed it. It's done. And then, you know, okay, if you're right, I'm sorry about that. | |
| I don't think you're right. If you're wrong and there's a lot more to go, you're just making the same mistake again. | |
| Because people were saying when it went from $10 to $3,000, oh, man, it's over. | |
| It's done. It's peaked. | |
| What if that's not the case? | |
| Everyone feels that way when they get in. | |
| Everybody feels that way. The best time to plant a tree is, of course, 10 years ago. | |
| The second time is right now, right? | |
| That's the big allure of, I think, a lot of the altcoins is that I missed the MySpace thing, but I can still get it on the new thing, the new MySpace, right? | |
| And so my advice to use the same as the advice I would give to XRP guy, should I buy XRP? Should I? Try to understand Bitcoin as best as you can. | |
| Invest time into understanding the actual original before you start getting all glittery gold with the alternatives. | |
| Would be my sincere advice. | |
| So invest your time. And it's easier if you throw in the amount of money that you can afford to lose. | |
| If you'd be pissed off, you lost your wallet with 50 bucks in it. | |
| Throw that into something so that you now have an interest and you're going to be checking the price. | |
| And it's going to stimulate... You have a physical interest that is going to stimulate your mental interest. | |
| And you'll see some patterns maybe in online. | |
| Yeah. You're just going to be more interested in it than if you're just kind of watching it from the sidelines. | |
| But that's not really investment advice. | |
| But everybody feels that way. | |
| I felt that way. In the past, when I first started, I still feel that way. | |
| Everybody should have that feeling that there's not enough Bitcoin to go around because there's not. | |
| There's only 21 million. | |
| There's only ever going to be 21 million. | |
| However, ask five people in your normal life if they've invested or if they're even heard of it. | |
| And probably four to five will have heard it now and zero to five will have invested. | |
| So you're still super early. And there's still probably 10 years of early or at least 10 years of you can be on the upside of the curve. | |
| All right. Jared, do you want to? | |
| Sure. As far as that feeling that you've missed the ship, it's like, oh, good grief. | |
| I want to reference the diffusion of innovations, but that's going to be a little too technical. | |
| If you're curious, go search for that online. | |
| It'll give you an idea of the curves on these kinds of things. | |
| The order in which people adopt new stuff, right? | |
| Pretty much, yeah. | |
| And kind of the scale on that. | |
| And like, okay, the first third is going to be the early comers. | |
| And then the middle, or sorry, the first quarter is newcomers. | |
| The middle half, two portions is the bell curve, the people coming in. | |
| And then the last quarter is the late comers. | |
| Now, for something like cryptocurrency, which not only, it will affect every, every information, every aspect of finance and business. | |
| and industry. | |
| For something like that, the effect and impact that it's going to have, we are nowhere near there yet. | |
| Like, even if everyone in the world were aware and competent and conscious of crypto and they're not, even if they were and they were trying to adopt it as fast as they could, you'd still have years to jump in. | |
| So, First of all, make sure your brain is ahead of your wallet in the race. | |
| And get dollar cost average in. | |
| That's just general. I'd say universal investment advice. | |
| Do your dollar cost average breakdown for people who may not know what that means. | |
| So dollar cost averaging is instead of like, okay, I've got $8,000 that I want to put in crypto or I have a bonus check or whatever. | |
| Instead of dropping all of it in right now, break it up into like 12 months, 24 months of payments and just go in on a regular time and date, buy a chunk, buy a portion, buy a portion. | |
| That way you're buying it on the dips and you're buying it on the ups. | |
| And from my understanding, correct me if I'm wrong, anybody, this has consistently been shown that in general, it is the best investment strategy over time, which makes sense. | |
| Something that aligns with your values, something you get, you know, You're going to stay with over time. | |
| You're not rushing in and out to make a quick buck. | |
| And if you have your patience, people who trade, one of the first things they'll talk about is how much of a psychological game it is. | |
| And it is. It is a matter of being aware of and mastering your emotions in this regard. | |
| And so patience is what's going to help out in that term. | |
| And As far as one crypto over or not versus others, I would absolutely say, to me, it's crypto in general. | |
| There's not one owning the race. | |
| The mission is way too important for anyone in particular. | |
| All right. Landry, anything you wanted to mention in this area? | |
| So yeah, I'd say with... | |
| My dad's one of those people who says, oh, I missed the boat and everything. | |
| But it's just a matter of, I think, taking time to read white papers. | |
| Because I know so many people who cannot read anything too long. | |
| And I think that it's really... | |
| Because that's how you find what you... | |
| Because you ask, okay, should I buy this? | |
| Should I buy that? Well, just what do you believe in? | |
| There's so much to read. | |
| And if it sounds like, okay, this makes sense, I believe in this model for this crypto, I'd say maybe stick with a couple. | |
| Obviously, I think Bitcoin and Ethereum is where my focus is at right now just because Everything is based on that technology, so I see it going, maybe even in the Bitcoin direction. | |
| I don't know. And that's not even up to $3,000. | |
| That's not even up to $2,000, I don't think. | |
| But yeah, I mean, I'm still pretty new, and I thought I was too late, but these conversations are awesome, so it's never too late. | |
| MK, did you want to take a swing? | |
| Yeah. So, I mean, I started with Bitcoin, I think it was like 2008, and I was mining when you could still mine on a CPU. I lost all that coin that I mined because mechanical hard drives, and it wasn't that valuable at the time. | |
| But it's like that didn't stop me from buying more later, right? | |
| Or even buying some last week. | |
| So, you know, like Jared said about dollar cost average, I don't save in fiat anymore, right? | |
| I keep enough that, you know, I'm not going to You know, be on the street, but you know, it's not a way to save. | |
| So I look at crypto, you know, there's only ever going to be 21 million. | |
| And for everyone who's like, you know, the Bitcoin price is going to go too high. | |
| Well, look how small it can divide down, down to the Satoshi. | |
| How many Satoshis in a Bitcoin? | |
| Is that eight or nine decimal places if I remember? | |
| 100 million, 100 million Satoshis. | |
| There's a lot of ways you can divide this thing up, right? | |
| So like, you know, 30 years from now, 10 years from now, there's only ever going to be 21 million and there's 8 billion people on the planet? | |
| Right now, right? | |
| That splits up a lot of different ways, right? | |
| So the more you own, it's like finding that unicorn woman, right? | |
| Like, just stay with her. | |
| She's treating me well, right? | |
| And it's like, yeah, it's going to go up and down and up and down. | |
| But it's like, you know, we're seeing institutional investors come in like never before. | |
| The floor is now there, right? | |
| Like, you know, the wild swings? | |
| Yeah, it'd be great if it was going up 20%, down 30%, back around. | |
| But it's like, it's just going to get more stable, right? | |
| And, you know... If you have money in a bank account in the US and you're earning.75% interest, you're pretty much losing 8% to 10% a year in your purchasing power. | |
| That's not happening with cryptos. | |
| It's going the other way. | |
| Even if you take all those wild fluctuations out, there's only ever going to be 21 million of them. | |
| I can't think of a better way to save. | |
| There's also this to add to that, like to compliment what you're saying there, I've got a room full of, or not room, a house full of, you know, roommates that are all crypto dudes. | |
| And they're all like, you know, I mean, as much as they understand, appreciate, love crypto, they're also like, I don't want to touch US dollars. | |
| It's not so much a matter that, you know, I absolutely love crypto, I do, but I just don't, I don't want, like, I don't want my money held in fiat. | |
| You know, it's just bleeding. It's like evaporating as you hold it. | |
| It's, you know, So there's that aspect of it. | |
| And I totally forgot the other point I was going to make. | |
| So I'm going to have to pass it off. | |
| So Thomas just gave us, and I'll put this in the show notes. | |
| Want to be rich? Bitcoin's limited supply cap means you only need 0.01% I won't go through this all because it's not that interesting to hear, but it's worth having a look at the market analysis. | |
| But they're saying right now, 0.01 Bitcoin only costs you about 500 bucks. | |
| But according to, you know, this is what they say, like in 10 years, 98% of the Bitcoins are going to be mined. | |
| Like, as you know, it's a diminishing curve, right? | |
| It's an asymptote. And... | |
| So 10 years from now, the supply of Bitcoin is going to read 20.6 million, 98% of the 21 million coins from the total supply. | |
| And Bill Gates will still be complaining that it uses too much electricity. | |
| No kidding. And so they go through this math about the number of millionaires and divided by the number of Bitcoins and all that kind of thing. | |
| And they got that 0.01 Bitcoin is going to be worth a mil. | |
| 0.01 Bitcoin is going to be worth a mil. | |
| A cool million dollars, right? | |
| Now, that's not too late. Now, nobody can guarantee this. | |
| It's not advice, but this is just the math that they're going through. | |
| This is kind of the math that I've been cooking around in my brain. | |
| As I've said, 700K is where I sit in the medium run. | |
| Sorry? There's no other asset like this. | |
| No. There's no business that's limited in this fashion, right? | |
| Like gold, they can keep mining gold, right? | |
| Silver, keep mining silver. | |
| Fiat, well, there's a lot of trees and they haven't turned them all on the paper yet. | |
| And yeah, I mean, so who wants to look up? | |
| We started an hour and a half ago. | |
| Who wants to look up what Bitcoin has done in an hour and a half? | |
| Because this is the kind of stuff, this is why I don't know why people are doing anything other than watching us talk. | |
| It just seems weird to me. | |
| What have we got? An hour and a half. | |
| Plus 400, or wow, it's going to be 688.57% up. | |
| I don't know what that number is. | |
| It's up 7%. Seriously, it's up 7% in an hour and a half. | |
| Now, do you know 7%, just for those, you know, if you don't invest on a, if you get 7% a year, In traditional investing, 7% a year is pretty good. | |
| Jeff, I'm sorry. I'm not understanding. | |
| From what I'm seeing on CoinMarketCap, in 24 hours, it's up 5%. | |
| Well, no, but that's... | |
| So it may have gone down a little. | |
| I'm just talking about the last hour and a half. | |
| Oh, gotcha, gotcha, gotcha. Okay. | |
| Right? It's gone up and down, upy downy thing, right? | |
| But just in an hour and a half, right? | |
| Nice. So it's a silly thing to say, but if you had invested... | |
| You know, $10,000, $1,000, whatever. | |
| You'd be up 7% in an hour and a half. | |
| You know, this is why I don't understand why. | |
| What do you got? It's about, well, it's gone up $1,600, says Thomas. | |
| That's U.S., right? It's gone up $1,600 since we started talking because who knows who's watching these streams. | |
| But anyway, that's important stuff. | |
| So the idea, if you thought, oh my gosh, it's too late. | |
| It wasn't too late an hour and a half ago! | |
| Yeah. I shit you not, it was not too late an hour and a half ago. | |
| Because 7% in an hour and a half, that's incredible. | |
| So if you think it's too late, what about an hour and a half from now? | |
| You know, this is the kind of time slice that we're looking at. | |
| And so please, please don't continue to talk yourself out of missing out. | |
| And I don't believe it's too late. | |
| I don't believe it's anywhere close to too late. | |
| Steph, I remember the case I was going to make. | |
| I was like, if you do feel like you've totally missed it, again, crypto is going to touch and change everything, so you're going to have to get used to it and learn it one day or another. | |
| You might as well get in now and get the gains. | |
| And we got jaredwoodwood.com slash crypto slash introduction. | |
| Yes, RPS. One W, Mr. | |
| Molyneux. I was just going to say, I bought my mom $50 worth of Bitcoin a couple of years ago. | |
| She happened to buy it just like the top of some little cycle, right? | |
| And so a year later, she's like, my Bitcoin hasn't gone up hardly at all. | |
| And let's say that's the worst case scenario. | |
| It just kind of maintains its purchasing power for a year or two or three or 10. | |
| Still better than being in dollars. | |
| You've held your life energy in an encrypted format that cannot be manipulated, that cannot be taken from you. | |
| They would take torture to steal it from you. | |
| Whereas in your bank account, at any point, someone can turn you off, as some people on this call know. | |
| At any point, they can just pull it out of your account, right? | |
| And that's completely not an issue with Bitcoin. | |
| So just for that defensive measure alone, there's something to be said as well, even if you don't gain any actual purchasing power. | |
| Yeah, in crypto, if you're just securing your wealth, you're set, compared to the dollar. | |
| And you're contributing to world peace. | |
| And this is where I started in crypto was in all of the non-financial aspects of it. | |
| You're building a free society. | |
| You're reducing the power of government. | |
| You're building a peaceful society. | |
| You're building a humane society. | |
| You're helping people in Africa. | |
| Funny story, it turns out dumping massive amounts of food in Africa didn't actually help them that much because all the dictators did was grab it and sell it for guns. | |
| But here's something which is actually going to help the hard done by and left behind people in the world. | |
| Yeah. It's not just a money mission. | |
| To me, it's always fundamentally been a moral mission. | |
| Yeah, maybe that's a roundtable we should have where just the philosophy and the moral aspect of crypto, because that's something that the community was founded on. | |
| It used to drive the conversation show very much. | |
| And I'm curious to see how much people would be interested in that. | |
| Oh, that's where I started in the whole space, so I'd certainly have to do that. | |
| All right. And anybody want to throw in some closing thoughts? | |
| I think we've finished on a good note, but if you've got a yearning burning, throw it out. | |
| I want to clarify the website. | |
| That is jaredwoodard.com forward slash crypto forward slash introduction. | |
| I've just had a lot of people reach out and ask about like... | |
| I'll put that in the show notes too, if you... | |
| Many, many questions. | |
| I'm sorry? I thought it was Bitcoins or shit, but that's the other one. | |
| That is someone else's website. | |
| That dinner you took that girl out for, if you invested in Bitcoin, you could buy her family. | |
| Turns out you can turn Bitcoin into... | |
| That's right. That's right. All right. | |
| Well, listen, guys, I really, really appreciate it. | |
| As always, a real privilege to shake neurons with you all. | |
| A real pleasure. And thank you for the good you've all done in the world and the people that you've helped. | |
| You know, this to me is really helping people. | |
| Not, you know, kind of go get them empty speeches of you can dream and believe. | |
| Like this is actual practical stuff that helps the world, helps people. | |
| And I think it's just fantastic. | |
| Well, that's an alarm saying... | |
| My food is ready. All right. Thanks everyone so much. | |
| We'll do the philosophy of the coins too. | |
| I think that's really, really important. | |
| Let's aim for that for next time. | |
| And thanks everyone. | |
| Lots of love from here. Freedomain.com slash donate. | |
| If you'd like to help out, I appreciate it. | |
| Thanks for your attention tonight. | |
| Please, please share this. | |
| Forget about the haters. Forget about the slanderers and the libelers and so on. | |
| Just get this information to people. | |
| There's a reason people don't want you to have this information and don't listen to them. | |
| Thanks guys. Talk to you soon. |
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