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March 17, 2021 - Freedomain Radio - Stefan Molyneux
45:43
MASSIVE BITCOIN UPDATE!
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So, yeah, I just wanted to say hi to everyone and bring some questions.
Bring it in, bring it in.
Stephen Wallenew from Free Domain.
Hope you're doing well. So, my gosh, a lot going on.
I just wanted to mention as well, if you wanted to check non-fungible tokens, own your little piece of philosophical history, you can go to freedomainnft.com, freedomainnft.com.
A non-specifically Bitcoin-related show later?
There certainly is. There certainly is going to be our usual 7pm.
There was just so much going on in the realm.
And I'm sorry I didn't have the whole crew together here.
It's kind of middle of the day and takes a little while to set these things up, so I thought I'd just drop in, but that's still going on.
So, okay, let's talk about the big picture of what's going on with Bitcoin at the moment.
So, as you've noticed, it's hovering.
I'm going to speak Canadian.
Aboot. Donuts!
Coffee cold! Resentful of NDP. So, what's going on at the moment as it's sort of hovering in the...
High 60s and low 70s.
And I say this from my time in the investment and banking industry.
I was a programmer, although I studied it quite a bit and talked to a lot of the traders.
So what's happening right now is, you know, when I was a kid.
No, not a kid. I was in my late teens.
I was dating a girl in New Liskert.
And I guess that's where I work.
That's where we have space to do my gold panning.
And I foolishly jumped off the end of a dock into the water without doing what is completely obvious to do before you jump off a dock into the water, which is find out how damn deep the water is, right?
You've got to find out how deep the water is.
Otherwise, you do what I did, which is twist your ankle and not enjoy it enormously.
Twisting ankles is no fun.
So what's happening is people are testing the waters.
Large institutional investors are testing the waters.
So of course the first thing they do is they look at the history of an asset before they decide to invest in it.
And of course looking back on Bitcoin they see that wild oscillations like A manic depressive mood on a roller coaster.
They see those wild oscillations and they want to find out if those wild oscillations are going to occur.
Because when you work for a big institutional investor and you handle tens of billions or hundreds of billions of dollars, you cannot throw people's hard-earned money into speculative investments.
That's not... Because, you know, if you've done this before, you sit down with a financial advisor, you fill out your risk scenario, right?
And if the risk scenario, as you've got an aging population, the risk scenario tends to be kind of conservative because people want to hang on to their money.
You know, if you're not going to make any more money, you don't want to throw your money into speculative investments because you need that nest egg for your retirement.
If you're a young person, then yeah, you throw your money into speculative stuff because you can always make your money back.
But when you're past your peak earning years, which is sort of 40s and 50s, You're more conservative.
So when people have filled out a lot of conservative stuff, it's one of the things that's kept institutional investors away from Bitcoin is the fact that it's, you know, that old joke, you know, Dad, I'd like a Bitcoin for Christmas.
What are you insane? $8,000 is a lot of money.
I can't handle $4,000.
I didn't have $21,000 in savings, right?
So you can't have those oscillations, and you certainly can't have The 85% crash from 20k U.S. to 3k U.S. that happened a couple of years ago.
You simply can't have it. You can't explain it until you get sued.
I mean, it's just a monster. So what's happening right now is investors are, like mainstream investors, big ticket investors, are buying some Bitcoin and then they're probably selling some Bitcoin and they're doing that in order to test the waters for the dip.
In other words, are people going to buy the dip?
Is there a bottom to Bitcoin at the moment because the bottom in Bitcoin was you know 2-3k back in the past after it went to its highs and so they're saying okay does this thing have buoyancy does it have buoyancy because if we invest in this thing and it crashes we're doomed like we are literally going to go out of business uh and end up in court or whatever right fiduciary responsibility blah blah blah so what they're doing is they're buying and selling bitcoin and they're testing the waters with positive and negative I don't know,
right? This is just my speculation, right?
This is sort of what I'd be doing in their shoes.
So you test the waters with positive and negative.
Oh, we're going in. Oh, we think it's bad.
Just to see if the market is easily goosed, if people are easily scared, and if there's going to be any sort of tulip mania panic buying.
And by the way, tulip mania, it only lasted for eight months, right?
This is this, what, 18th century thing that happened in the Netherlands or something, where people got really manic over tulips and bought all kinds of crazy tulips.
And now, every single time, an asset goes up in value.
It's a tulip bubble! Oh, man.
You've got to not overuse these analogies.
Bitcoin's cruising north of 10 or 11 years, and tulip mania was 8 months.
Let it go, man.
It's been a couple of hundred years.
Let it go with the tulip mania.
NFT's totally different, though.
FreeDomainNFT.com.
Anyway, so they're testing the waters.
They're doing what I didn't do when I ran off that dock many years ago in New Lisklip.
They're not... They're not just going all in and crossing their fingers, right?
That's for younger people or people who like frying bacon in the nude, like myself, whose risk tolerance is obviously quite high.
So there's a lot of positive and negative news.
There's a lot of buying and selling, and they're doing that to find out if people will buy the dip.
because if there's a couple of months, six months of people buying the dip, and if the new floor for Bitcoin is sort of the mid to high 60s Canadian, which it seems to be, then they can start to ease more and more money in, and then they have a defensible situation where they can say, look, we'd had this amount of stable price for this amount we'd had this amount of stable price for this amount of time, and there's algorithms that they have for this kind of stuff, and all these other people were getting in, and it didn't seem like there was a floor, and if you've made some money from Bitcoin, can you thank the Chinese
Can you thank the Chinese Communist Party?
It just struck me, too.
You know, it struck me today.
You're 10 times more likely to die of COVID if you're overweight, significantly overweight.
And so, you know, if you were China and you wanted to target the West, particularly America, You'd pretty much facilitate the release of a virus that targeted fat people.
I'm just saying that would be a causal situation.
Somebody asked, what's the value of NFT, owning intellectual property?
Well, what's the value of owning the original of anything?
What's the value of owning the original of the Mona Lisa versus a copy of the Mona Lisa?
It's a piece of intellectual history I'm going to create.
And it's funny too, I was just going through some of my old documents and I have old plays that I wrote.
I actually dug up.
The Rationalist Manifesto.
It's a manifesto that I wrote.
32 pages of tight-knit text.
It's a manifesto that I wrote in my early 20s, I think it was, or maybe 23 or 24.
And it was all of my concentrated beliefs over 30 years ago.
It's pretty wild. And so I'll be releasing that as a limited edition and...
Nobody else will get it. I mean, nobody else will get it.
Now, for the one I just released yesterday, you get the 4K version of it, and you get to own it.
You get to own something. It's a little piece of philosophical history.
I think it'll go up in value. We'll see.
So that's what's happening right now, is that companies are testing the waters and seeing if the price holds stable, if there's a bottom to the price.
And this is kind of analogous to a relationship.
Like in a relationship, you never fart on the first date, or if you do, you do that kind of sideways, squint-eyed, cough a little bit to cover it up.
And then complain about the guy at the next table farting, right?
But after a while, you've been married.
You know, you can't spend your entire life holding in your farts.
Otherwise, you turn into a good year blimp.
And so, you just kind of relax over time once you've hit the bottom, so to speak, in the relationship.
So, does the NFTs include crazy talkbook?
Oh, that's a very interesting idea.
It's a very interesting idea.
I will think about that. I will think about that.
So, yeah, so that's what's going on with Bitcoin right now.
So this is the pause that refreshes.
This is where people are finding out if there's a bottom, once a certain amount of price stability, and Bitcoin's price stability is pretty significant at the moment because there's not been a fall in the way that there has been in the past.
And, you know, the high was, what, 75, 76 Canadian, and now the low has been like 68, 69.
That's totally within the bandwidth of more mainstream investments as far as I would understand it.
And again, none of this, any of this is facts.
None of this is investment advice, just my particular thoughts on the subject.
So, are people going to buy the dip?
And, you know, COVID hits swollen people and helps swell crypto, in particular, and bitcoins.
And look, I saw a chart with, like, thousands of other altcoins.
Nothing holds value relative to bitcoin.
Like, it just doesn't. They just don't.
And, you know, they may have...
I was literally buying crypto when the stream started.
That's funny. I think the low bottom is 32K. All right.
22 meg. Love you to death.
I'm really glad you're here.
Stop saying stuff you don't know, okay?
You don't know. Nobody knows the future price of anything, okay?
There's too much uncertainty.
I mean, who would have guessed that COVID would cause Western governments to hyperprint money, which would drive up the value of Bitcoin?
You can't predict these things.
You cannot predict these things in any way, shape, or form.
So, I mean, you can put out predictions, for sure.
And I say, look, I think when I ask for predictions, oh, I think it'll be 100k.
And I get by the summer.
This is an opinion. And so, I just, I hate to nag when I've also put out occasional predictions, but...
When you say something that specific, you know, be careful, you know, because if you think that's the case, you're going to spread that information, blah, blah, blah, right?
So, sorry, again, I'm aware I've made occasional predictions, although very few, but something as specific as the new low bottom is 32K, I assume that's U.S., I don't know, man.
That's pretty rough.
You're right. I have no idea, just going off technicals.
But if it hit 32k, I would load the boat.
Right, right, right.
No, that's important, right?
So, looking at the past HODL waves, right?
Because what's happening right now, the people who are in Bitcoin for a long time, the people who've been holding for a long time, they're not selling.
It's people who are selling are the people now who've bought relatively recently.
So they bought relatively recently and they're selling now.
And again, I assume that's a bunch of institutional investors.
It's people dipping out and buying the spreads and so on.
But the hodlers are in for the long haul and it's the short-term hodlers who are selling at the moment, which again is me looking at the big institutions testing the waters or even individuals who have a lot of clout testing the waters and so on.
So based on the HODL waves, this Bitcoin bull market right now is equivalent to $4,000 in 2017.
And if you look at how the $4,000 went up in 2017, it went up about five times as a whole, right?
And so if the same thing happens right now, and then this is US, we're looking at a $300,000 peak.
A $300,000 US peak based upon that.
Again, that's just...
Again, I said don't just go off with guesses, as this guy said, but if you've got some data behind it, you know, it's a way of looking at it, right?
So the 4K went to 20K. That's the five times in 2017 on the bull run.
And the bull runs are very predictable.
You can go back to 2011 and you can see all of this stuff.
The bull runs are very, very predictable.
So... So if the bull run is equivalent to 4K in 2017, then we've got another five times to go, which will give $300,000 per Bitcoin peak.
So that seems quite important.
Let's talk about this morning, and Anthony Pompliano, A. Pompliano, is a very interesting guy to follow.
So Morgan Stanley, the largest U.S. brokerage, is embracing Bitcoin.
They've released a report, they've released a report, the case for cryptocurrency as an investable asset class in a diversified portfolio.
That's very important, right?
Because right now, You got to understand things from, like if you're a solo investor, so to speak, you don't have clients to answer to, you know, maybe your wife, maybe your goldfish if you live alone, and your own conscience down the road, right?
Because everyone can say, oh, if I bought $1,000 of Bitcoin in 2010, I'd have...
Right. So...
But you don't have clients calling you up enraged, right?
So clients will call you up if you're an investment advisor.
They'll call you up under two situations.
One, you lost them a bunch of money.
Two, you failed to make them a bunch of money.
And right now, institutional investors, in my view, are on that tipping point.
So what they're doing is...
If they miss Bitcoin, if they say to their clients, Bitcoin is trash, or Bitcoin has no value, or Bitcoin is a fad, or Bitcoin is a bubble, or Bitcoin is tulip mania, blah, blah, blah.
Which I'm sure they have been saying.
Their clients have been calling them up over the past couple of years saying, hey man, I hear about this Bitcoin.
What do you think? Oh no, it's a fad, it's a path, blah, blah, blah.
But now, when Tesla has made more money off Bitcoin over the past couple of months than 13 years worth of selling cars, When Visa is looking into incorporating Bitcoin, when MasterCard is looking into incorporating Bitcoin, when large asset holders are investing in Bitcoin, the financial advisors, they look like idiots, right?
Because they've said, oh, it's a fad, it's a passage, we don't like it, blah, blah, blah.
And what happens is their clients are now calling them up.
So if they bought a bunch of Bitcoin for their clients and Bitcoin would crash, their clients would be calling them up enraged.
And threatening, right?
But now what's happening is their clients are calling them up and saying, well, it looked like you were totally wrong on Bitcoin, or you could be, and so what the hell are you going to do about it?
And so they're now testing the waters trying to figure these things out, right?
The case for cryptocurrency as an investable asset class in a diversified portfolio out of Morgan Stanley, the largest U.S. brokerage, right?
So that's a very, very big deal.
Sorry, just one second.
So they need to make the case.
So if you go on a hunch, right, and you say, ooh, I think Bitcoin good, and it crashes, and people say, why the hell did you buy Bitcoin?
A hunch isn't going to cut it.
You have to have some numbers behind it.
I worked on all these back-end programs in COBOL 74 that processed all of these haircuts and purchase and drops.
They were insanely complicated.
And you had to have a rationality.
You had to have a justification. You had to have a business case.
You had to have charts. I remember seeing guys back when two screens was an anomaly with four screens, all with spreadsheets about what they were going to buy and sell.
As long as you have a rationale that you can sell, then it's like, hey man, you approved the algorithm.
I bought and sold based on the algorithm.
And therefore, I'm not to blame if it goes badly.
But of course, they always take the credit for the algorithm if it goes well.
So if you're in high finance, you need to make a case for Bitcoin.
And once Morgan Stanley is making the case for cryptocurrency, and maybe we can read through this together at some point, an investable asset class in a diversified portfolio.
So they're saying it's a subset, right?
Not going all in. So that's really, really important, right?
So let's see here.
Be right back. Going to check the price of Bitcoin.
That's pretty funny. What do you think of Ethereum?
Oh, I think it's great. I think it's great.
There's never going to be just one currency.
But right now, if you want Ethereum to be successful, you have to get behind Bitcoin.
Because Bitcoin is the icebreaker.
It's going to get everyone else's altcoins in, right?
Back in 2017, bull run, all this talk of adoption was also around, but didn't come to fruition, hence the long bear market.
Well sure, well sure, because in 2017, Trump was in office.
So just as you understand, right?
The transition between Trump and COVID is the fundamental reason, in my view, for the drive of the value of Bitcoin.
When Trump was in office, he was reducing regulations, he was being tough on tariffs, he was growing the economy, unemployment, particularly for blacks and Hispanics, was at an all-time low.
And the idea was that the U.S. economy was going to find some way, through Trump's expertise and understanding of markets, that the U.S. was going to find a way to grow its way out of its deficits.
Now, of course, with COVID and with Biden, I mean, the Biden Bitcoin boost is the BBB that's rising everything up, right?
So Trump's out of office and money printing is going through the absolute complete and total roof.
I mean, money printing is, you know, the money machine is just going out like crazy.
And so people are fleeing the dollar into Bitcoin.
And again, this was an unprecedented event.
I mean, not the loss of Trump.
That was a kind of foreordained because of manipulation by big tech.
And what is it?
Is it the Washington Post that just revealed that when...
Trump was supposed to have called up some guy in Georgia, someone in Georgia saying, go find the fraud or whatever.
This is not a lie. It's a complete lie.
They tried to delete the file, but they left it in the recycle bin.
They actually recorded the conversations.
That's a total lie, right? Yeah, a Biden bump boost, right?
A Biden Bitcoin bump. That's what you really want to understand about this stuff.
So yeah, people are looking to get out.
And at some point, a government is going to buy Bitcoin.
And when the government starts to buy Bitcoin, assuming it's a big government, not some Micronesia micro-government, but assuming a big government starts buying Bitcoin, then the bond market's going to fall, the government bond market, right?
And, you know, if I were an evil guy in China, Then what I would do is, the moment I wanted to start taking Taiwan and Hong Kong, which they want to do of course, I would simply buy Bitcoin like crazy, I would dump US Treasuries, put the US economy into a complete tailspin, and then they wouldn't be able to do anything when I took the countries that I want, or the regions that I want.
So, yeah, that's a really, really important thing.
And that's going to release the future from debt, right?
It's going to be really rough, right?
The other thing too, Starlink, right?
It's Tesla's thing, right? These satellites that beam internet everywhere, so...
Starlink is pretty important.
You're going to get another 3 billion people with worldwide access to the internet at a time when there's inflation, right?
So those people, just as they do in Nigeria, are going to start using Bitcoin.
And, you know, when you have a depreciating asset such as fiat currency, and you have a market for an appreciating asset such as Bitcoin, and then you have 3 billion people suddenly getting internet access, it's kind of a sweet spot, right?
It's kind of a sweet spot as a whole.
Just a thing to remember when I talk about the sort of two classes that are coming in society, there will be the people who hold Bitcoin and then there will be the people who are put on universal basic income in a depreciating, right, in inflation and depreciating asset, right? So they'll be put on universal basic income and...
Those will be the two classes.
Bitcoin holders and people on UBI. Because remember, you know, this is a wild thing when people talk about government education.
So, 21% of adults in the United States are illiterate.
Right? 21% of the adults in the United States are illiterate.
Illiterate. That's 43 million people.
And this is, of course, the idea that we want to get people back into government schools.
It's just hilarious. Just hilarious.
So Visa, according to reports, they're going to enable the purchase of Bitcoin on Visa credentials.
The Visa CEO has said Bitcoin could become, quote, extremely mainstream, end quote, in five years.
Now, of course, if it's mainstream, it's not extreme, but I get kind of what he's saying, right?
So that seems quite important.
As far as the daily carbon footprint, right?
So somebody said, oh my gosh, Bitcoin has the daily carbon footprint of 57,000 hours of YouTube.
Anybody want to guess what YouTube's daily carbon footprint is?
In other words, 57,000 hours of YouTube is the equivalent of electricity of Bitcoin mining and processing.
Anybody want to guess how many hours of YouTube are watched every day?
Obviously, this has gone down since I got kicked off.
Anybody want to?
It's a billion hours.
So, yeah. Daily carbon footprint of Bitcoin is 57,000 hours, but there's a billion hours of YouTube a day.
So I think, well, if you're watching YouTube, you're doing more harm to the planet than mining Bitcoin.
Let's see. Trump is resurrecting the dollar.
That's over now. Yeah, absolutely.
No question. Many people surveyed said they buy Bitcoin as a hedge against inflation.
So would deflation cause Bitcoin's price to decrease?
Well, so if there's deflation, each dollar is getting more valuable, so some people will take their money out of Bitcoin and put it into the dollar, but The only reason you would do that is if the dollar is gaining value faster than a Bitcoin.
And I think, I mean, Bitcoin's got up on a thousand percent in 12 months.
I don't think deflation is going to work like that.
So I wouldn't worry about it too much.
Somebody says, Hi, Steph.
During one roundtable, you talked a bit about the problem of people buying useless shit.
Can you develop? Oh yeah, white elephants, they're called tchotchkes.
Just crap.
You know, just crap that people have on their shelves, crap people have in their basements.
Just people buy a lot of crap.
And I think it's pretty bad.
It's pretty bad. I really like the styling concept, but it is probably outside the price range of 99% of Africans.
It also has a maximum user density in an area.
Well, I don't know, man.
I don't know. Because what will happen is Bitcoin entrepreneurs, Bitcoin billionaires will start doing microloans to Africans to get them on the grid so that they can start using Bitcoin and drive up the price.
It would be a very good investment, right?
All right, Steph, thank you for being a beacon of reason in these dark times.
Thank you very much. I appreciate that.
Individuals don't need to have a single Starlink dish, can be shared among the community.
Yeah, very, very, very important.
So, and this is an interesting thing, right?
So, I don't like investing.
I don't I don't like investing just just as a whole I don't find it interesting and and I just don't enjoy it and I just wanted to get a quick poll of everyone out here like do you like investing do you enjoy it is it is it fun for you would you do it even if you didn't have to because people kind of have to because the government keeps stealing your money through inflation right and and all of that and so Do you guys enjoy?
I don't, right? And I think that what's going to happen down the road is people are just going to buy and hold onto Bitcoin.
And they're not going to take all their money.
Because, you know, if you have a way to increase the value of your fiat or the value of your holdings, in terms of just buying and holding Bitcoin, then I think...
People would just hold bitcoins.
They're not going to invest in bonds or stocks or real estate or speculate on gold or things like that.
I mean, they just want...
Most people want to work.
They don't want to gamble in a rigged game, right?
Like, you know, casinos are, quote, a rigged game because the house always wins in the long run.
But investing is a totally rigged game.
And Bitcoin, you understand, is a hedge against the fact that the game is rigged.
So as you know, when the Fed prints money, it hands it out at full value to people close to the Fed, to the financial elites, and they spend it at full value, and then the people down at the bottom of the economic ladder totally get it in the shorts.
So it's completely a rigged game, and the government controls money supply, controls interest rates, controls regulatory powers, and so on.
So that's a rigged game.
And who wants to play in a rigged game when you can hedge against the fact that the game is rigged and buy and hold Bitcoin?
So I think that the whole investment environment, this is one of the reasons why investors were so hostile.
A lot of big investors were so hostile.
Was it Warren Buffett? When he was asked about Bitcoin, he said it's rat poison.
Then later he was asked about it when it went up in value.
He said it's rat poison squared.
This is off the top of my head.
I think that was the case. If I can get a fact check on that, that'd be great.
So, yeah, people don't want to invest.
I mean, it's all the people in Congress who end up making a fortune, right?
I mean, a lot of times I think it's just insider information, but whatever, right?
So, don't want to buy stocks, would rather play poker.
Yeah, yeah. Yeah.
It's fun, but can feel like gambling.
But gambling, the house only wins a couple of percentage points, right?
In the stock market, the people who win, like, win like crazy.
Okay, don't like investing.
Yeah, yeah. I only, I do only investing now, bored off my ass, right?
Yeah. I find it difficult to invest.
Following crypto gives dopamine, you know, sometimes.
If somebody says, around investing, it's not fun for me.
It's like I'm fighting to keep my money.
Bitcoin is like a Davina account to me.
I day trade for a living. Oof, man, that's rough.
That's rough. Somebody says, I kind of hated having options beyond the fact that I could earn some money maybe by holding on to it.
Yeah. Yeah.
I've been staking my Hex Crypto doing very well, better than Bitcoin.
Excellent. Excellent.
All right. So, yeah, I mean, there's a whole financial class.
of like tax lawyers and stockbrokers and financial investors and real estate advisors like there's a whole layer of people who specialized in here's how to protect your money and if you on your own no stockbroker can just go and buy some Bitcoin and that way you can protect your money I mean, A, it's going to be really traumatic for people who are used to making a lot of money by helping other people protect their money.
And it's sort of like the difference between you need an armed guard or you can arm your employees and train them on weaponry.
You can do it yourself. Now, this entire group of people are going to be released into the free market.
In other words, they're not going to be security guards for your money, wildly overpaid.
They are, in fact, going to end up doing something productive.
There was some movie a while ago where...
I can't remember the name of it, but it was one of these movies that's a lie about the 07-08 crash, right?
I mean, the mortgage crash.
It's all a lie, because we all know, or at least those who watch the show know, that it was driven by government mandates to lend to minorities.
So... It was one, and there was this actor playing one of these traders, and he was saying, you know, before he became a trader, he built a bridge, and he did this math in his head about, you know, how much time people save by using his bridge, and he did this all mathematically in his head.
It was a really cool scene, but he wasn't making bridges anymore.
He wasn't building useful things for society.
He was just running point to protect people's money from government predation, from taxation, from inflation, from regulation, from you name it, right?
So is that the big short?
Yeah. So what happens is those people, they're going to be shocked, right?
And they're going to end up moving into productive areas of society.
So defending yourself against government predation is a declining spiral and it's a net loss to society.
Because it's used to prevent an even greater net loss, but it's still a loss, right?
I mean, you lose an arm rather than an arm and a leg, it's still a huge loss, right?
So there is going to be a huge release of people from unproductive or negatively productive to positively productive areas of society because there's a very smart people who can do a bunch of stuff.
So somebody says the corporation?
No. It was the guy who played the game show host in...
Katniss movie. Anyway, so here's the other thing too, and this Bitcoin being used only by criminals.
See, here's another thing too.
Banks make a fortune money laundering.
They make an absolutely staggering fortune money laundering, right?
Money laundering, you know, it's like turning the proceeds of crime into, quote, legitimate income, right?
Does anybody want to guess? Banks help launder How many dollars each year?
Stanley Tucci, yeah. Thank you.
Great actor, by the way. A great actor.
A guy can play anything. Very talented.
So, banks help launder how much money every year, right?
So, you understand Bitcoin is going to reduce this activity as well, right?
So, There's another reason why banks don't like Bitcoin.
So people say, oh, Bitcoin is used by criminals.
How much money do banks launder every year?
It's pretty wild. A trillion?
We got a trillion? Yeah.
Yeah, that's pretty good.
Yeah, yeah, in the world.
A trillion, yeah? People got a trillion?
69? Oh, same guy every time.
I'd say you get your head out of their ass, but at a 69, it's probably in someone else's ass, so that's different, right?
The banksters are the largest criminals in the world.
Oh yeah, like if you're an amateur criminal, you rob a bank.
If you're a medium-level criminal, you own a bank.
And if you're a top-level criminal, you own a central bank.
So the estimate, and who knows, right?
But the estimate is banks help launder $2 trillion every year.
$2 trillion every year.
Wild. Just wild.
So, the longer-term 3-year-plus holders have continued to accumulate their Bitcoins, while newer owners in the last 6 to 12 months have sold into the recent rally.
This is as of two days ago.
As of two days ago as well, there are...
Oh, I like the guesses.
I don't know if you guys do, but I like the guesses, right?
So, how many Bitcoin ATMs are there in the United States?
Just throw out, how many Bitcoin ATMs are there in the United States?
It's a big question, right?
How many Bitcoin ATMs are there in the United States?
And the answer is 28,185.
So there are 28,185 Bitcoin ATMs in the United States.
And the reason why everyone's guessing low is that 10,000 of them were installed in the last five months.
10,000.
So a third, over a third of the Bitcoin ATMs in the United States were installed in the last five months.
So, here's institutional Bitcoin buys, right?
So Q3, I'm sure you guys all know this, but like Q1 is January to March, and you get it, right?
So Q3 2020, institutional Bitcoin buys, 850 million, Q3 of 2020, right?
Q4 of 2020, institutional Bitcoin buys went from 850 to 990, right?
990, this is the US, 990 million dollars.
So Q3, Q4, it goes up, you know, I don't know, 10%, 12%, whatever it is, right?
So Q3, 2020, 850.
Q4, 2020, 990 million.
Q1, 2021, we got $3.1 billion.
Went up over 300% from Q4, 2020.
So we'll have to see, of course, what Q3 is going to, Q2 this year is going to build, but it's going to be pretty huge.
Oh yeah, I just wanted to mention this as well, kind of the fake.
So, recording of Georgia phone calls shows multiple news outlets ran fabricated Trump quote, right?
Multiple news outlets ran a story with fake quotes attributed to former President Donald Trump according to a now released recording of Trump's call with Francis Watson, the chief investigator of the Georgia Secretary of State's office.
The Washington Post first reported the false quotes via an anonymous source in January and said that Trump urged Watson to find the fraud, adding she'd be a national hero.
So, a recording of the phone call revealed no such quotes from Trump.
Yeah. Just horrendous.
Just horrendous. The recording of the call was found in Watson's trash folder on her computer.
I guess she tried to delete it or forgot to empty the trash.
Women in technology. So, yeah.
That was quoted in his impeachment hearing, right?
So, I mean, the real divide is those who believe the media and those who don't, right?
Those who have any reasonable epistemology and those who don't.
But yeah, it's pretty brutal out there.
And the reason why this is important is once people start believing anything to do with the mainstream media, then they'll start thinking for themselves with regards to the economy, which will lead them back to Bitcoin.
When will the media be required to pay reparations?
I don't know. I suppose it will be similar to the time when people start...
Larry Elder put out a video where he was talking about how half of America's murders are committed by young black men, about 3% of the population, so I guess about the same time as reparations for all that, which will be pretty much never.
The media, well, being a reporter is a high sociopathy profession.
All right. Utah is working on banning porn.
Yeah, that's right. All of the libertarians are typing furious denouncements with one hand.
All right. Let me see if there's anything else that I wanted to talk about.
Yeah, when Bitcoin hits 74k US, it would be worth more than Google, which is pretty cool.
Pretty cool. The Standard& Poor is 99% denominated in Bitcoin over the last five years.
That's pretty wild. Citibank, March 14th, Citibank posted, Bitcoin is at the tipping point of mass adoption on their Instagram.
Coinbase, March 14th, Coinbase is running out of Bitcoin to sell.
They've been down $12,000 in the seven days leading to March 14th.
And that's pretty bad.
This is from Pompliano.
The U.S. stock market is the most manipulated market in the world.
The second that stocks start to correct, the government decides to create trillions of dollars in liquidity.
They've done it three times in the last 12 months.
RIP free markets. Yeah.
Yeah, it's pretty important.
The U.K. is banning peaceful protests.
Well, sure. Yeah, of course. I mean, I said everybody needed to open up last March, last April.
And I also said a year ago that the...
The human cost of the lockdowns, particularly in reduced cancer screenings, very personal to me, of course, but the cost of the lockdowns was going to be far worse than what could possibly happen from COVID. And what can I tell you?
The lockdowns are a complete disaster and have affected almost nothing.
When people want to do their own research on Bitcoin, where can we direct them?
I've been sending them to Coindesk's learning site.
Um, I don't...
Yeah, I mean, I think that's fine.
I think that's fine. Any advice on how to help friends that believe mainstream media?
It's like talking to a fundamentalist.
Uh... Well...
You have some standards.
And so if you have friends who believe the mainstream media, you bring them the most obvious example of how their information is wrong.
Let's say they believe the fine people hoax, right, that Trump called neo-Nazis very fine people.
So what you do is you play them the entire video and you let them work through their cognitive dissonance and you give them a little bit of time because sometimes it can take a little bit of time to realign.
And if they continue Well, I'll just tell you from my perspective, I don't have anybody who believes sociopathic civilization destroying lies in my life.
Like, why would I have some standards?
You know, it's like saying, well, how can I maintain the love of a woman who keeps cheating on me?
It's like, stop being with a woman who keeps cheating on you.
And if your friends are cheating with you with leftist sociopaths in the mainstream media, they're highly dangerous.
They will turn on you in a dime.
If you say something that becomes problematic, they'll report you to social media.
Because, you know, you still have the legal right of free speech, but all that's happened now, and I can say this from very personal experience, all that's happened now is the left has decided that they don't want to take on free speech in the courts.
They don't want to try and ban free speech in the courts.
All they do is they whip up such furious hatred against people they disagree with that the violence of the activists will shut down speeches.
Or get you kicked off social media.
So, yeah, you still have the legal right of free speech, but the leftists target paint you with negative adjectives.
The activists come out and threaten your speech, and then they never get prosecuted, right?
So, because the leftists are also heavily embedded in the police forces.
So, yeah, I mean, that's just the way it plays out.
And if you have a friend...
First of all, if they believe the mainstream media, they don't have any virtue, they don't have any capacity for truth, and they're participating in the destruction of everything that you care about.
How the fuck you can be friends with someone like that?
I genuinely have no concept of how that's possible.
How can that possibly occur, that you're friends with someone who is giving money and fueling the lives of the people who want to destroy your entire civilization, throw you in a gulag, and ruin your life?
Not necessarily in that order.
Like, how could you be friends with someone like that?
I don't understand it.
I mean, I genuinely don't understand it.
I have no idea. I mean, would you be friends with someone who was threatening your children?
Of course not. Well, they are.
Would you be friends with someone who was trying to get you fired?
For your political perspective?
No. Well, you are.
I mean, I don't understand.
I just, I don't understand. I mean, have some self-respect, for God's sakes.
Have some self-respect.
My God. DoLive didn't notify you?
I'm sorry about that. Just so, you've got to follow me on social media, because I'll post on social media.
I posted on social media that I was doing this.
So just go to freedomain.com slash connect, and you will be able to get these kinds of reports, right?
Yeah, Georgia Deputy Secretary of State Jordan Fuchs, this woman, was the source of the fake Trump quotes in the call.
Fuchs was appointed by Brad Raffensperger.
Yeah. And, yeah, the no-coiners, right?
Oh, it's really sad, right?
Oh, Bitcoin's $3,000.
It's too risky, man. It's too volatile.
Bitcoin is $60,000.
Oh, it's too expensive. I don't even know how to buy it.
And there's a Paris Fashion Week Rick Owens spring collection.
There is... They literally tied two women together.
One with her ass in the other woman's face and her face in the crotch.
And they had these two women tied together going down the aisle.
Going down the walkway, the runway.
And literally you've got your face in people's asses and their faces in women's crotches.
I guess it's like the Cardi B and Megan Thee Stallion thing at the Grammys.
But that is...
That's what's going on. There's another reason why Bitcoin is being driven, is that this is so monstrous.
It's so monstrous what's going on out there, right?
So... Anybody else that...
Somebody wrote, three guarantees in life.
One, death. Two, taxes.
Three, Bitcoin. 100K. Excellent.
Excellent, excellent, excellent.
Yeah, so the Fed is going to keep interest rates near zero, for sure.
For sure, I think. So we've had $3 trillion in fiscal stimulus in the U.S. And it's crazy.
That's crazy.
All right.
Telegram.
Yeah, you can follow me on Telegram.
You know what? Let me give that link here to people who are by.
So yeah, I'm on Telegram and you can follow me there.
And let's see what we got here.
Oh, let's go.
Yeah, let's put here. I'm sorry.
I forget this every single time.
I'm not sure why. I'm not sure why.
I forget this every single time.
It's terrible. Absolutely terrible.
But yeah, you should definitely follow me on FreeDomain, on Telegram.
Yes, here we go. Yeah, so it's t.me forward slash FreeDomainRadio.
t.me forward slash FreeDomainRadio and I'll put this in the link here.
Where do you find good friends and good girlfriend as an adult?
Well, what you do is you simply ask people direct questions very early on.
You know, if you're looking for a needle in a haystack, you better have a metal detector, right?
And so what you do is you meet people, you start asking them, and you're honest about what you think and believe, and if they recoil from you, you've just saved yourself a whole lot of time.
So just really, really avoid them.
Really, really avoid them. Should we be concerned about quantum computing breaking crypto?
No. There's an old joke that says, I want a computer fast enough to do an infinite loop in 20 seconds.
An infinite loop is an infinite loop, so I don't think that's an issue.
I like how intimate it is on Telegram.
Keep it coming. And press Y if you want me to open an OnlyFans account.
Press Y if you want me to open an OnlyFans account.
We shall see.
We shall see. We shall see.
All right. Any other questions or issues that you wanted me to chew through?
We're going to keep it kind of short today.
Just let me know.
No. No.
Why? Very nice.
Very nice. All right.
On Telegram, I have two types of notifications.
Staff and escorts. Very nice.
OnlyFans. Why? I just think it's kind of funny.
I think it would be a meme.
It would be a meme. All right. Well, listen, I'm going to stop here.
I just wanted to drop by and give you guys a quick update on the planet of crypto as far as I see it.
Freedomain.com forward slash donate.
If you would like to help out the show, I'd really, really appreciate that.
As you know, I've been kicked off a lot of payment platforms, but...
You can go to freedomain.com forward slash donate to help out the show.
Hugely, hugely appreciated.
Thanks everyone for dropping by.
A great pleasure to chat with you.
As always, I absolutely love you guys.
And if only you knew how obsessively I wake up in the morning and think about how I can make your lives better.
I'm telling you. I'm telling you.
It is my number one thing. So thanks everyone so much.
We'll try and do a...
Well, don't forget to drop by DLive for my show tonight.
I've got some pretty rip-roaring topics to get into for sure.
And you can drop by at dlife.tv forward slash free domain.
Oh, you know what? Can we? Let's just find this out.
Can we toss out any lemons?
Can we? Yeah, let's toss out some lemons.
I'm distributing the rewards.
Apologize for lying about 9-11, and I'll think about it.
Yeah, I don't care about 9-11.
Honestly, don't care.
The government has enslaved entire generations.
The governments have killed half a billion people in the 20th century.
The American government has done truly heinous stuff.
And trying to get the U.S. government for 9-11, even if he believed it was involved, is like trying to get a serial killer for a parking ticket as far as the death count goes.
So, yeah, I'm sorry. It's not of interest to me, and it's a huge amount of wasted time.
Huge amount of wasted time.
All right. Thanks everyone so much.
A great pleasure to chat with you.
I will see you tonight at 7 p.m.
Eastern Standard Time. Don't forget to sign up for my newsletter at freedomain.com forward slash newsletter.
Those are going out on a regular basis.
Lots of love from here. And I will do my usual completely ungraceful exit.
All right. Thanks everyone so much.
I will talk to you soon.
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