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May 18, 2021 - Freedomain Radio - Stefan Molyneux

02:06:23

FULL VIDEO: BITCOIN IS CRASHING!!! LEARN TO LOVE THE DIP SOLDIERS!

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	Hi, everybody. It's Steph.
	Hope you're having a good evening.
	If you're not talking at the beginning here, just give me a couple minutes for a wee ranty rant, and I will make sure that I at least get my thoughts and feelings across, and then we can go with everyone.
	Just a quick audio check, because Window never lets you keep your settings, right?
	You know that. It's like Obama with your doctor.
	You think you can keep your settings, but you can't, because you opened up another program that just messed with them completely and won't let them back.
	All right. Good afternoon, Julie.
	Step up in the house. Hello, Sode.
	Hello, Jay Santana.
	Just audio check.
	Oh, you guys can hear me all right, too, right?
	Audio okay? And, yeah.
	Yeah, oh, yeah. No, Bitcoin is kind of cheesing me off.
	The community as a whole is kind of cheesing me off at the moment, so...
	It's time to make some enemies out of former friends.
	Everybody has a talent. You know, some people can turn strangers into friends.
	I can turn pretty much anyone into an enemy, and it seems to be a kind of a compulsion, but I think it will be worthwhile and useful.
	All right. Just remember, if you commute, if you're not talking, don't interrupt my rant.
	It's so great to see SM, that sadomasochism.
	Oh, wait, no, that's me. Looking lively and well.
	Well, it's going to get a whole lot more lively.
	I'm just going to bounce right into this.
	Oh, my God. Oh, people.
	Okay. Yes, it's true.
	Bitcoin is down. What have we got?
	Actually, I just asked everyone to mute.
	What have we got? What's the latest?
	Last I saw, it was like low 50s Canadian.
	What have we got? Yeah, diamond hands, paper hands.
	These paper-handed people are...
	Frankly, kind of exhausting.
	What have we got here for it?
	Is it down? Is it up?
	Up and down like the Assyrian Empire.
	$52,208.
	And people are like, it's down!
	It's like, yes, but it's still 500% up.
	I mean, my God, talk about a hedonic treadmill.
	Okay, I'll tell you why it's down, and I'll tell you why it's really annoying that people are freaking out that it's down.
	Okay? I will tell you why it's down.
	Okay, I want you to think of a scenario which we're all familiar with if we've watched heart-tugging pre-teen directed movies like Titanic, which is the ship is going down, right?
	Titanic is going down and there's not enough lifeboats, not enough lifeboat seats for everyone on board, right?
	So a couple of people are like, you know, I heard a pretty funny thump.
	I'm looking over the side of the Titanic, there's a big gaping hole in the side.
	And James Cameron's at the helm of the camera, so things aren't going to go too well for us.
	And so they start edging towards the lifeboats.
	And these are the people getting into Bitcoin or cryptos in 2011, 2012, 2013, and so on.
	And they start getting on.
	And then, at some point, people start to figure out that the angle, you know, the angle of the ship's getting a little hinky, and you've got a whole orchestra starting to slide towards the end.
	This is before the guy spins down and bangs his head on the propeller.
	Before the ship splits in two, things are going kind of badly for the whole Titanic situation.
	So more and more people start edging towards the lifeboat.
	And then, frankly, some rich assholes come along, and they say, oh, you know what?
	I think there's too many people in that lifeboat for us.
	We don't want to really...
	We don't really want to...
	Sink with the ship, and we're very rich, so I got it.
	I know what we're going to do. We're going to say that there's another lifeboat coming.
	Yeah! Okay, now this lifeboat that's coming is shaped like a dog, and it's going to be super fantastic.
	These lifeboats, you know, they're not perfect.
	There's no Lido deck.
	There's no shuffleboard.
	There's no karaoke. Unless you're sitting near Red Pill.
	It's not classy enough for you.
	There's going to be a way better doggy-shaped lifeboat coming along, so you don't need to worry about this one because Dogboat is coming.
	And people are like, oh, hey man, if Dogboat is coming, I'm not going on this one.
	I'm not going on the Bitcoin lifeboat because Dogboat is coming.
	Now, you know the only reason that they're telling you about Dogboat is so that you don't get on to the Bitcoin lifeboats.
	And then there's room for them.
	That's the entire purpose behind what it is that they're doing.
	I called this months ago, and it's playing out exactly as I said it was.
	Not that complicated, not that brilliant on my part.
	It's really, really obvious.
	So what's happened is rich people are finally cottoning on to the fact that Bitcoin is going to be the thing.
	Now, I'm not talking diss on other cryptos, except for Dogecoin, which seems to be mostly a joke.
	Memecoin created in about two hours, for which there have been precious little development over the past five years.
	But anyway, so the imaginary coin, no, not going to work.
	So rich people are like, wow, Bitcoin's really a thing.
	And you've got real cracks showing in the fiat currency system, people.
	Real cracks showing.
	What is it? 30 plus percent of Americans are getting $3,800 up to in stimmy checks every month from the government.
	The graph of the Canadian money supply is like the graph of my interest in girls when I hit 12 and a half.
	What? Straight through the roof.
	Newfoundland, which is a little god-forsaken economic wreck of an island where they completely destroyed the fishing some 20 years ago because they gave people way too many licenses to buy, to fish way too many, destroyed a 400-year car industry.
	Everybody there is broke ass, and the average worker in Newfoundland owes $170,000.
	In government debt. And they've just gone to the bond market and they said, hey, we'd love some more money.
	And they said, you've got to be kidding, man.
	No way. You can't possibly pay this off.
	We have governments unable to borrow.
	We have massive expansions in the money supply.
	And people are still believing that inflation is, oh boy, we thought it was going to be 3.5%.
	It's 4.2%.
	It's like, you've got to be kidding me.
	You've got to be kidding me.
	Hearing the mainstream media and the government's estimates on inflation is like some really slutty girl telling you about how many lovers she's had in the past.
	Ten times the number and you're probably somewhere close.
	Really, I was only with four boys and it was all long-term relationships.
	They're all choir boys and one of them was none.
	It's like, okay, so four is 40 and 4.2 is about 42%.
	If you start looking at lumber and if you start looking at housing and you start looking at food and you start looking at gas...
	We're not talking 4.2%.
	So you understand, COVID was the iceberg.
	I mean, the ship wasn't going to make it to England anyway, but COVID was the iceberg, which meant that there was no graceful exit from it.
	So Elon Musk, oh my God, this is a guy who baselessly accused a hero who rescued a soccer team from a flooded cave.
	He called him a pedo.
	And the guy sued him, and Elon fought it ferociously and ended up winning for some bullshit free speech crap in the U.S., This is a guy who will falsely call someone a pedo and then defend himself to the death.
	This is a guy, there's a picture floating around of Elon Musk with Ghislaine Maxwell, Jeffrey Epstein's quote, girlfriend slash pimp for underage children.
	You think this guy's free to make his own decisions?
	That rich, that prominent, that powerful, that, quote, respected?
	In the business community, you think this guy's making his own decisions?
	You don't think they have stuff with this guy?
	I can threaten him with just about every punishment and exposure, south of the North Pole and north of the South Pole.
	He doesn't have freedom or liberty to make his own decisions.
	You think he's flip-flopping?
	No! There's pressure being put on the guy, for obvious reasons.
	Because once the smartest guy in the world makes more money off Bitcoin in two months than he made from 13 years of designing and selling electric cars, people are like, holy crap, we've got to get on this lifeboat.
	Ooh, lifeboat's kind of expensive.
	60k for a ticket on a lifeboat?
	60k for a seat? We've got to drive that price down!
	Let's put some pressure on the guy.
	Let's get him to start talking about doggy coin.
	You understand? It's a joke.
	Doggy coin is not a real thing.
	It's a made up bit of nonsense.
	It's complete crap.
	It's not tested. Oh, and then you've got Elon Musk saying, well, you know, but you see, if Dogecoin can simply get 100 times the speed at 100th the price, it's going to win.
	Yeah. You know, if you could just make a computer that was 100 times faster, I mean, you'd corner the market.
	You know, if Elon, you know, if you could just...
	Get a battery for your electric cars that are 100 times more powerful and last 100 times longer.
	I'm a business genius!
	It's like, yes, well, that has already been going back and forth in the blockchain wars from 2013+.
	That's all been fought over and deliberated over, and this is where things have got.
	A core business-to-business network called Bitcoin and a potentially consumer rapid thing called the Lightning Network or other things.
	So, yes, what is happening right now?
	Bitcoin is going down because people want to get on board.
	That's why it's going down.
	Because if you want to invest a lot in Bitcoin and you can knock the price down ten large, you've just saved yourself tens or hundreds of millions of dollars.
	Not a bad thing! For whatever pressure you can bring to bear on some public figures around Bitcoin.
	Bitcoin is not dependent on the mood swings of Elon Musk, who seems to make Catherine Zeta-Jones look like my wife when it comes to mood swings, so it's not dependent on that.
	It is dependent on people understanding that the existing fiat currency system is the Titanic, and right now you can get a seat on a lifeboat for a mere 50k Canadian.
	Now, it was cheaper in the past, it was more expensive a couple months ago, but they're driving it down so they don't have to bid as much for the seat on the lifeboat.
	So all that's happening right now, right now, is that people are selling Who are dumb.
	And people are buying, and I won't even say smart, and maybe smart and dumb is not the right way to go.
	People who understand what the purpose of Bitcoin is.
	The purpose of Bitcoin is to replace the tyranny of central banking.
	That's the purpose of Bitcoin, to replace the tyranny of central banking.
	To Kneecap the increasingly totalitarian government systems and to give people the way out of the Titanic, give people the way out of the falling building, to helicopter them out of the burning skyscraper, whatever you want to call it.
	This is the escape hatch.
	This is the absolutely unforeseen, beam me out of trouble Scotty, technology that's going to save our asses.
	Oh, well it's got environmental problems.
	Environmental problems.
	Elon Musk, who will take pretty much, you know, half a tribe of dinosaur juice, slam it into a rocket and burn it to get to Mars, or just get anywhere, is now complaining that, you see, Bitcoin, well, you know, it could have some energy consumption issues, even though, even though.
	The energy consumption of Bitcoin is vastly less than gold mining.
	It's vastly less than fiat currency.
	It's vastly less than war, than national debts, which of course is massive consumption in the present versus the future.
	It is much more energy efficient and it's uncontrollable, it's uncontrolled, and it's limited.
	It's limited. Because the fantasies of unlimited is addiction.
	Hey, I can take as much heroin.
	It's going to be great. Hey, I can gamble as much as I can have much sex as I want.
	It's going to be great. The fantasy of the unlimited is the essence of addiction.
	And Bitcoin is here to cure humanity of the addiction of infinite money and the corruption of infinite money.
	So the fact that the price is dipping is fantastic.
	I could not be more thrilled and more pleased because it means that the people who were just in it for the bucks, just in it for the money.
	Okay, good. Make your money.
	And GTFO. Get your money and get out.
	Take your money and get out!
	Because the rest of us are here building a lifeline for humanity to survive the collapse of the system that is.
	Okay? So you want to take your little money, you want to take your little profits?
	Go! Go take it! Go put it into fiat, man!
	Go take it! Go wait for doggy coin!
	And give some smart people a seat on the lifeboat!
	Because that's what we're here for.
	We're here to survive and flourish.
	And if you want to take, oh, look, I could make $10,000.
	I could make $50,000.
	I could make $100,000. You're still thinking in fiat, which means you don't get it.
	You don't get it. And if you don't get it, get out.
	Sell. Sell to someone who understands what this vehicle is for.
	This is a rescue ship.
	This is a rescue helicopter.
	This is not a two-month profit turnaround bullshit scenario for you to go and buy a Lambo, okay?
	This is not just life-saving, this is civilization-saving technology.
	And if you're led off by the demon of greed, oh, you sell a little bit, I'm going to make some money, oh, it's bad, it's got energy.
	And you know what else I love, and I'll stop here, right?
	So what else I love is that, oh, I worked in the environmental industry for 15 years, co-founded a software company that was aimed at helping corporations reduce their Environmental impact.
	So when it comes to helping the environment, I've done more than just about everybody around, right?
	God, I hate environmentalists.
	Talk about shoot a children's clown in the kneecap killjoys of the X-dimension.
	Lord above. Lord sparing.
	Oh, you having any fun? It's going to kill the environment.
	Oh, you enjoying this nature documentary?
	They're all going to die! Oh, are you enjoying having some technology and some heat?
	No! Killing the planet!
	Because plant food is your enemy.
	Plant food is Satan farts.
	It's going to undo civilization. God, I hate them.
	They're just Karens wanting to speak to the manager of the planet.
	Absolute, complete and total killjoy Karens.
	And they're communists, of course, right?
	I mean... Because, you know, what I noticed back in the day when it came to environmentalists, they didn't give a shit about the environmental pollution that was going on in Soviet Russia.
	And Soviet Russia literally turned entire lakes into sewage plants.
	Soviet Russia turned beautiful forests into smoking carbon-laced carnage factories of...
	Environmental slaughter. And they didn't care.
	They didn't care about any of that, right?
	Because it's just a way of making you feel guilty for having any kind of abundance, any kind of technology, any kind of comfort, because they're miserable assholes who can't stand to see anyone happy, so they just nag the living shit out of you like medieval Catholic priests on steroids, okay?
	So, oh, you enjoying this veil of tears?
	Are you enjoying Satan's landscape of happiness?
	Well, you're just evil and you...
	Right? God forbid.
	The haunting fear of environmentalists is that somebody somewhere is comfortable and happy, and that has to be just axed like a young sapling from an idiot who doesn't know how to build a fire.
	So, oh my God.
	The fact that environmentalists are steering clear of Bitcoin is one of the greatest cosmic justices ever rained down since Satan was hurled from heaven.
	It is an absolute beautiful thing.
	And so environmentalists, oh yeah, man.
	Oh, yeah. Bitcoin is basically kneecapping Mother Nature, man.
	It's a gang rape of the goddess of nature, and you should absolutely, completely and totally stay away from it.
	Stay with Fiat, because you see, Fiat is just wonderful for the environment.
	Stay with gold. Stay with Visa.
	It's absolutely wonderful. For the environment, so stay with the government because government debt is completely wonderful with the environment.
	Stay away from Bitcoin, man.
	You stay on the Titanic, man.
	Doggy coin is coming and you'll be totally safe because I want smarter people on the lifeboat because the world we're going to build after the smoke clears is something I don't even want to see you within 10,000 miles of the landscape.
	Maybe you can join Elon Musk's wonderful nature-preserving commute from Earth to Mars because, Lord knows, nothing says I care about the environment.
	Then shooting people with 10 billion horses worth of rockets straight up into the sky.
	All right. That's my rant.
	I hope it didn't...
	Well, I hope it made sense.
	Certainly did to me. You're never really quite sure with the other people.
	All right, I'll unpin myself and I'm happy if anybody else has thoughts, questions, issues.
	I'm watching the questions and we can go to voice if you want in a bit.
	But I will unpin my video and jump in now.
	Or forever hold your PC peace.
	I am very, very glad to hear you bring up a point out The problem with environmentalists in general, and especially in the crypto space, and the opportunity in excluding them from the future in this way.
	They don't deserve to be on the life raft.
	They are the reason we're in it in the first place, so screw them.
	They don't get to go to the bright, shining city on a hill.
	And so I would.
	I'd look for other people in the crypto community to be calling this stuff out and making sure these folks aren't there, aren't around, and are not welcome.
	And you'd be surprised how many projects, it seems to be like all of the decentralized acyclic graph, the DAG ones that people have talked about.
	It seems like all the people behind those projects seem to be commies looking for state regulation and things of that nature.
	So yeah, it'd be really, really nice to see the crypto community more often and more in general.
	Really point out our opportunity here to make sure that people that got us into this situation do not get to prosper.
	It's a strange thing when you think about it, how everybody and their dog accepts that power corrupts, and absolute power corrupts absolutely.
	And everyone who says the same thing, power corrupts, man!
	But we've got to have the government handle every single conceivable problem, because now apparently in my cross-brain 1984 Richard Burton's head-up-his-own-ass universe, somehow power doesn't corrupt the moment it's transferred to the government.
	Power corrupts and nothing corrupts more than fiat currency.
	Nothing corrupts any human being more than being able to type whatever the hell they want into their own bank account and lend out that money to their pals at the expense of the poor and those on a fixed income.
	So Bitcoin solves the problem of the corruption of power that comes from centralized coercive control of currency.
	And if you can't solve that problem, there's no way you can ever solve that with the government.
	You can't solve any problems.
	I mean, we don't have a democracy, and we haven't since 1913, because all the government does is buy votes with printed money.
	That's all they do. They promise it for free, they hand out money like candy, thus completely pillaging the future generations and their possibility of any kind of achievement.
	We don't have a democracy, because anybody who comes along with an honest statement and says, you know, we've got to cut our spending, we've got to pay off our debt, we've got to limit our currency, we can't afford the welfare war for a state, and anyone who comes along with this, I guess we have that with you.
	Global warming. But it's like coming along and saying, we've got to ration the air that we breathe.
	And people say, well, air is functionally infinite.
	What are you talking about? It's the same thing with currency.
	We've got to have sensible discussions about limits on currency and limits on spending and limits on government growth and promising everything to everyone.
	It's like, no, but money is free and infinite.
	Why on earth would we have that?
	You must just hate the poor.
	You just must want people to get sick and so on, right?
	So it actually, when you have a delusion of infinity, That's actually a psychosis.
	Like you are hallucinating that you have an infinity when you don't.
	And fiat currency has turned our population, in general, psychotic.
	And I know that sounds like hyperbole.
	I don't believe it is at all.
	Because we have this delusion of infinite resources, which would be insane.
	It would be insane. Like if you were a gambling addict and you said, and somebody tried to intervene, like some professional tried to intervene, you were sent to some gambling addiction company to say, no, no, no, but you understand, I have infinite money.
	I have infinite resources.
	I've got a bag here.
	It looks small to you on the outside.
	It looks like something that would hold, I don't know, a couple of Dungeons and Dragons dice or, you know, one testicle of a soy boy.
	But actually, when you reach inside, there's infinite money inside.
	Now, that would be a psychotic delusion.
	That you had an infinite bag of infinite money that looked kind of small from the outside.
	And you would be treated with antipsychotics.
	In fact, they wouldn't even try talk therapy with you because you would be so far gone that they'd need to somehow shock you into some basic coherence in order to have a rational discussion with you at all.
	So we have become psychotic through...
	Fiat currency and Bitcoin and other cryptos solve that.
	The limited ones do solve that.
	They bring back some reality because the gambling addict who perceives infinite money is never going to need to get cured.
	He doesn't even have a problem. The only people who have a problem are those harshing on his fun by insisting that he has a problem itself.
	So yeah, I mean, this solves all of this.
	Oh my gosh, the price has gone down.
	Fantastic. That means more people are getting on board and there are the people who are displacing those who don't get it.
	And hopefully they get it too. Otherwise, they'll just be part of the next cycle.
	Do you think that this is a great moment for like Monero and PirateChain because these things like Dogecoin, I think in the long run they're going to be used to discredit crypto.
	I mean if they are already doing that.
	But I mean I think this is a huge moment to see where the flaws in Bitcoin are.
	Not that it's bad. I mean it's the The ground that every other crypto is built on.
	But I'm just curious what your thoughts are on, you know, this being less of an issue with privacy coins.
	Well, so usually you can sort of think of Facebook, you can think of Google, and I know there's lots of government involvement and that kind of stuff, but you look at most meritocracies where the network effect is the greatest, like the more people on Facebook, the more valuable Facebook becomes, then you get like an 80-20 rule, you get a 70-30 rule, and so you'll get the majority of stuff in Bitcoin, and there's room for tons of other.
	I would imagine that stock issuances are going to be done in cryptos at some point relatively soon.
	There are people who want more anonymity for perfectly honorable reasons.
	And there are people who want their particular coins to be in a limited environment.
	Like, you know, you could buy coins that you could only spend at a particular store.
	They may want those.
	And again, if you're issuing stocks or going public, you may want to do particular coins about that.
	So there'll be a majority coin that's used internationally that's business to business.
	I think that's Bitcoin. The consumer stuff will probably be some smaller coin.
	But of course, the perfect thing is that you'll have clearing houses which will simply shuffle coins between various things, right?
	If there's something that's more functional, as there is at the moment, you can't really do day-to-day transactions in Bitcoin.
	But if there's something more functional, then people will use that.
	And then if they need Bitcoin, there'll be a pretty friction-free transition from whatever coin to Bitcoin or whatever.
	You know, the more the merrier. I think it's absolutely fantastic.
	And there's going to be use case scenarios for other coins than Bitcoin, for sure.
	Because, of course, if there are fewer users, then it's faster, right?
	And that's good, right? But then, of course, to be more functional for more users, it has to slow down.
	So it's going to be lots of different, you know, there's still Linux, right?
	There's still Linux for servers, even though Microsoft was quite big in there for a while.
	And there's lots of options.
	So the way that I view it at the moment is that the crypto space is kind of similar to Computers kind of early on, just when the IBM PC comes along and began to dominate, there was the Atari ST, there was the Amiga, there was lots of different computers that had very different functionalities and were specialized in very different areas.
	And people still continue to use those, right?
	I mean, there's the IBM PC architecture is the dominant, right?
	90 plus percent but of course a lot of people want to work with Macs and you can get like a $22,000 Mac for editing videos that makes it a breeze and is better than anything a PC can offer and so lots of different options for cryptos and I view it it's the icebreaker right Bitcoin is the icebreaker and everyone's going to swarm along after the ice has been broken and develop ports along the way and with everything that's going on I think we all know that there's a government coin coming I mean, it's already a thing in the works, and there's some speculation on what that could be.
	Do you think there's any chance that Elon might be the guy to, like, give that to the public?
	Sorry, you said there's a government what coming along?
	Government coins have been in the pipeline for a long time.
	Fedcoin is an inevitable...
	What are they calling it now? They're calling it CBDCs or something like that, like Central Bank Digital Currencies.
	CBDCs? Oh, that's a mouthful.
	Yeah, that's the shorthand that's being used both in the crypto community, some of the people I've talked to, and also, I guess, by the financial system.
	I just love that CBD is in there, but anyway, go on.
	Yeah. As soon as someone said government coin, I literally just had like a feeling like I needed to throw up.
	Yeah. See, here's the thing.
	Would you put your money on government coin never happening like they're never trying it or it's inevitable?
	Where would you put your money?
	They're gonna do it. They're gonna do it.
	The proposition for power is too great.
	Well, I mean, I'm sure they will try.
	I'm sure they will try.
	But of course, you can't have a government coin without it being infinitely printable, because there's absolutely no point to it whatsoever.
	So they'll use it for social credit scores.
	They'll use it for tracking.
	They'll use it for, you know, getting you kicked out of university because you tweeted something positive about whoever, Nick Fuentes back in the day or something like that.
	So yeah, they'll use that for tricking people and for tracing people and all of that.
	and it will be a poor substitute for the free market solutions which are coming out, you just say Monero and PirateCoin and Bitcoin and T-Sauce and other things like that.
	I mean, yeah, they'll give it a shot.
	I mean, what happened to Libra?
	What happened to Facebook's thing? Weren't they cooking with something in that?
	Anybody know? What did happen with Libra?
	They started getting heat congressionally and lots of questions and stuff like that.
	There were a lot of inquiries. We're going to launch an investigation.
	And so from my understanding, they tabled it.
	Too much confusion with the astrology sign.
	Hey, that's my astrology sign.
	It always confused me because it looked like a balanced scale and it's like, no, no, no, seeking for balance from a stake of imbalance is like, okay, yeah, well that makes a bit more sense.
	Makes a little bit more sense to me.
	Did you guys get the latest data on how many American adults own Bitcoin?
	42 million? It's a huge number, right?
	Yeah. Is that it?
	42 million Americans own, American adults own Bitcoin.
	Is that real? I was shocked.
	The number just blew my mind, but that's what they say.
	Interesting. Libra has been rebranded, somebody says, in the chat.
	Listen, if you've got questions in the chat, we have a good set of crypto brains here.
	Not just Bitcoin only, but people who are very much into other coins, which is great.
	But if you have questions in there as well, just fire them into the chat and I'll feed them to the audience.
	But how are you guys experiencing Bitcoin?
	I'm sleeping like a baby.
	I couldn't be more thrilled.
	I think it's perfectly fine.
	There's no climbing the mountain without a couple of valleys, right?
	Because everyone thinks hodling is just like, it's like a flat line.
	It's like, no, hodling is like, ah, right?
	It is going to go up and down.
	And if you start thinking about paper losses and paper gains, you'll simply go mad.
	I always look at it from the perspective of, oh, it's dipping.
	It's time to get some more. Like, it's a great thing.
	Well, this is... Yeah, I was gonna say, the dip doesn't even like register to me.
	I don't even like acknowledge that anything is happening at all, basically.
	Somebody says, how much Bitcoin do you need to be on the lifeboat?
	I'm 22. I'm just getting real money with a real job.
	I only have 2% of one Bitcoin.
	You're just getting your first job at 22?
	I'm sorry, I'm afraid we've just got a big testosterone match here.
	You already got your first job at 22.
	I was working at two. That's just one of those twos.
	I was working, man. Some of that mother's milk was hard to pull, man.
	It's like milking a bucking bronc.
	Anyway, well, listen, I mean, there is a, it's kind of like a meme, and I know a meme is not an argument, but it's one of these things where there was a guy in a castle in the background in the meme and in the front, you know, it's like, do you know, I've heard he has a whole Bitcoin?
	Because if you think 22 million bitcoins, the entire world economy, at least the business sector of the economy, is going to have to fit inside something like that.
	And that's a lot.
	So, you know, I certainly, as I said, 700k bitcoin, million dollar bitcoin, I'm perfectly comfortable with those kinds of estimates over a short to medium time frame.
	And so, you know, to me, if you can ratchet your way up to getting a Bitcoin, I think you're doing pretty well.
	I think you're doing pretty well.
	I think that's going to be pretty tasty.
	You put that in a dating profile and you'll be like Roger Waters in his prime.
	Is that the signal you want to send in your dating profile?
	What you want is a dating profile where you have to deposit a Bitcoin, you know, just to get on the dating profile, because that's an IQ test.
	Can't post your IQ, but you can post that you have a Bitcoin, and, you know, you'll get it back if you don't get your dates.
	Also, if you're a younger person, you're feeling kind of dejected or unmotivated because you feel like you can't, you don't have enough.
	Having any at all, whenever the big social collapse re-organization happens, is going to immediately qualify you in the eyes of other as someone who is forward-looking and intelligent.
	And also, if you can't afford to get crypto, you can't educate yourself about it.
	And that's going to be probably even better than having some in your pocket.
	Yeah. Somebody's asked, is there a worthwhile use in staking coins?
	I don't think so. So staking coins is a methodology of trying to secure the network.
	And yeah, my biggest investment is in a staked coin.
	And so I get like a regular return on that.
	And now that return is not like, I don't look at that like it's income.
	What's happening is the coin is being inflated.
	Now it's voluntary and it's regular and it's predictable.
	The coin is being inflated.
	And so the people who participate in securing the network do not get deflated.
	And in fact, they maybe earn a little bit, but everyone else who is not helping secure the network, they're paying essentially in that way.
	For not participating in the security of the network.
	But it's totally unlike fiat in every way.
	It's totally unlike fiat in the sense that the rich don't get richer than the poor don't report.
	What's the most important way in which it's unlike fiat?
	Come on. Come on.
	What's the most important way in which it's unlike fiat?
	We've got a newbie audience. It's voluntary.
	People are voluntary participating in it.
	That's good. I'll give you that.
	Yeah. Let's see here.
	Where should newbies go for resources on learning about crypto for beginners?
	Jaredwoodard.com. Crypto introduction.
	Jaredwoodard.com. We'll put that in the link.
	But that's what I have.
	Somebody says here, put 10 to 20% of your income into Bitcoin if you can afford it.
	Somebody says, one Bitcoin will be a comfortable retirement in a decade.
	I think that's true. Do any of the cryptos have a plan to circumvent a government crackdown regulating or making illegal?
	What do you guys think of that situation?
	I mean, I'm all on board with Pirate Chain, man.
	So I do believe that.
	If the state does try to crack down on cryptos, I do believe things like Monero, Private Chain, Zcash, all that good stuff, and Tezos has their own privacy features, they're going to gain from that.
	You know, and... I think it's going to be a huge gain at some point.
	Like, I think it's going to skyrocket in a way that, like, in that particular market, like...
	I don't know about that, but I... Any time I can predict.
	I just think that it's going to be a big bump whenever certain things in society happen.
	I don't know what those things are going to be, and I don't want to, but it sounds probably scary.
	Sorry to interrupt you, Jared.
	Landry, do you want to give a pitch for PirateCoin as the one that you're most interested in?
	Is that right? Yeah, I mean, so basically, like, the simple argument is Bitcoin, you know...
	They came out with it and it's been the ground for everything we're doing with crypto.
	And then Monero is kind of like the way that people originally thought Bitcoin was completely private.
	And then now I think Pyrochain fixed the holes that Monero had.
	And that's just a simple argument.
	I'd have to get a lot of notes together because I don't want to waste anyone's time.
	But I mean, you can go and look into it.
	There's some good videos. Just type in on YouTube.
	First one that comes up, it's like a 16-minute video by Jarenism and it's really good on Pyrochain.
	People are saying Andreas Antonopoulos as well.
	That's A-N-T-O-N-O-P-O-U-L-O-S. I only know that because my wife's maiden name was Greek.
	But yeah, Andreas Antonopoulos, he was on my show a couple of times and then I think he turned on me for some reason that I can never quite figure out but probably has something to do with Wikipedia.
	But yeah, he's a good guy for learning about this stuff.
	He's a very good communicator about this space.
	He is, but unfortunately he is kind of a dingbat lefty.
	Yeah. Sorry to cut you off.
	I would recommend The Bitcoin Standard by Saif Adina Moose.
	I'd recommend Layered Money by Nick Bhatia.
	Those are both really good, solid explanations of Bitcoin.
	I've said this before on the show, but I think you should start to try to get at least an understanding of the core foundation, which we all agree, I think, is Bitcoin.
	Understand that first.
	Don't be Elon. Understand that first.
	And then if you want to branch out into altcoins, then...
	Do it, but keep your largest percentage of your portfolio in the one that's the biggest.
	That's just my perspective on it.
	The Bitcoin white paper is not that long.
	I mean, it wouldn't take that long for anyone to read.
	It's really well written, too.
	A normal person can understand it.
	I've always had some questions or people do get a fair amount of questions of energy use.
	I know, I know, it's one of these nonsense things that people are just making up so that they can pretend to be smart or pretend that they were smart to, you know, I didn't get into Bitcoin, but it turns out I just love the planet, so I'm a really good person, right?
	That's kind of the way it goes.
	Do you guys have any, and this is true for cryptos as a whole, do you guys have anything that you wanted to say about environmental issues, environmental arguments?
	Yeah, I want the maximum amount of energy possible that the free market will provide into the coin that protects all my wealth, which is Bitcoin.
	I want the maximum amount of electrical energy in case there's a state attack or in case something else happens.
	I want the maximum. I don't want the minimum.
	I want the maximum amount of security to protect my wealth.
	That's just me. And this is where I think Bitcoin has a huge advantage.
	It's got a set of incentives where the more energy that comes on the network, the more secure it is, and generally the price goes up.
	And that's a very virtuous cycle.
	And so Bitcoin's got the biggest network effect, it's got the biggest energy usage, and that's a good thing.
	And I'll tell everyone, like I say this a lot, I repeat myself, but with this one, I don't know if this number is true.
	It's kind of like the 42 million Americans owning Bitcoin.
	I don't know if I believe you. I don't know where they get these numbers.
	Nobody asked me, but they had an article that came out at the end of 2020 that said 1.5 billion face masks ended up in the ocean in 2020.
	Now that's a crazy number. How do they find all those?
	I have no idea. But if you see anyone talking smack about the Bitcoin energy, just be like, well, hey, why'd you use all those masks?
	Like, I mean, you contributed to a big environmental issue and then done.
	Well, excuse me for wanting to survive coronavirus and live.
	It's a huge energy cost if I die, because then all of the energy put into keeping me alive was wasted.
	Okay, they got their answers, right?
	Anyway, I've got a couple of facts here, but I'm happy to hear from you guys if you've got other things you want to say about energy consumption, energy use.
	A lot of the energy use that Bitcoin is taking is what would otherwise be wasted energy.
	There's flared gas in an area that's electrically separated from the grid.
	That would have been otherwise actually CO2 in the atmosphere, but it's been burned at a really high efficiency so that it's now generating Bitcoins and that all they need is internet connection out there in the boonies.
	They don't need a pipeline or Another way of transferring the gas.
	So that's one thing. That's not necessarily renewable energy, but that's otherwise wasted energy.
	And then a lot of the Bitcoin energy that's being used to mine is straight up renewables because that's the lowest cost of energy.
	Hydro is the lowest cost of energy.
	And that's a majority of the Bitcoin mining in China is done seasonally.
	In the rainy seasons, they have hydro mining.
	So basically, yeah, proof of work has allowed to use energy in market effective ways, market productive ways that you couldn't in the past, like Red Pill's talking about with the off-gas, or not off-gassing, but the flares.
	Now, Steph, are you going to go over the stats on the energy and CO2 use, comparing gold and paper currency, the banking system, Bitcoin?
	Because if you were going to do that, I don't want to steal your thunder.
	Yeah, I mean, just... So here's some of the latest data, right?
	Bitcoin's annual electricity consumption stands at 113 terawatt hours.
	So this is energy for minor demand, minor power consumption, pool power consumption, and no power consumption.
	So this amount is at least two times lower than the total energy consumed by the banking system, which is estimated to reach 263.72 terawatt hours per year globally.
	Now, I think that's an unfair comparison because the banking system is doing a lot more than Bitcoin.
	So that would be my pushback against that.
	I want to make sure that both sides of the case is heard.
	Bitcoin's energy consumption is transparent and easy to track in real time.
	So there's a Cambridge Bitcoin energy electricity consumption index, the evaluation of energy usage of the traditional financial system, and the gold industry is not that straightforward.
	So energy utilization is not necessarily a bad thing.
	And of course, you know, energy utilization is kind of one of these things like if you are an antinatalist, there's too many people in the world.
	You could throw yourself off a bridge.
	That's not what I mean! I don't agree with this energy usage.
	You know, you're saying that over the internet, which requires energy.
	That's different, right? So everyone has this, like, weird thing where they abstract these negatives and then completely ignore their own usage.
	I mean, gosh, I don't even know.
	Like, the number of people who are lecturing, you know, Bill Gates lecturing me on energy consumption when he's got 19 houses or whatever it is.
	I mean, come on. It's just ridiculous, right?
	I mean, it's let them eat cake stuff, right?
	So, the question is, is the Bitcoin network's electricity consumption an acceptable use of energy?
	Well, of course it is, right?
	So, anyone can use Bitcoin.
	Anyone can hold Bitcoins. It's very egalitarian.
	Bitcoin transactions can provide probabilistically final settlement in an hour, 24 hours a day, 365 days per year.
	My very first professional job was doing COBOL 74 programming at a stock trading company.
	And, you know, everybody went home.
	And you can buy and sell Bitcoin.
	You don't need a stockbroker. You don't need a license.
	You can do it on your own.
	You can do it 24, 365.
	That is pretty wild.
	You know, like in these old movies, it's like, I got to get off the phone because the Japanese market is opening in 20 minutes.
	And it's like, that's not a thing for Bitcoin, which I think is kind of cool.
	So... This is from Arc Energy.
	In our view, the concerns around Bitcoin's energy consumption are misguided.
	Contrary to consensus thinking, we believe the impact of Bitcoin mining could become a net positive to the environment.
	With real world data, we demonstrate how mining could impact the amount of renewable energy provision to the grid by transforming intermittent power resources into baseload generation by way of energy storage.
	We illustrate that renewables would be able to satisfy only 40% of the grid's needs in the absence of Bitcoin mining, but 99% with the commercial subsidies associated with Bitcoin mining.
	And of course, if Elon Musk is so concerned about a financial system that uses too much energy, clearly he would dump fiat at the moment and take Bitcoin.
	So of course, that's not what he's doing.
	And he's a smart guy.
	And when smart people make incomprehensible decisions, it's usually because there are pressures on them that you and I don't have any access to.
	That's just, I mean, to me, anybody of any prominence and significant wealth is just compromised.
	I mean, you look at Bill Gates.
	I mean, the guys took a dozen-plus meetings with Jeffrey Epstein after Jeffrey Epstein's criminal predation upon children was revealed, and he resigned from the Microsoft board because he was just...
	Chasing after women left, right, and center.
	And he's just a gross, compromised, weird, freaky, eugenics kind of guy, as far as I can tell.
	And nobody seemed to come on it either until the divorce.
	It's kind of funny. I'm sorry? Everyone's talking bad about Bill Gates now, just right after the divorce.
	Nobody really said much about him being creepy.
	I mean, I'm talking about the lefties.
	Yeah, to be fair, I've been trashing him for years.
	But yeah, yeah, no, for sure. Let's see here.
	Mining Bitcoin in the winter in your home is literally zero emissions.
	Yeah. Let's see here.
	What do you think the future of Bitcoin exchanges will be?
	Gosh, that Jared guy is so handsome, says a guy.
	Oh, it's interesting. He's got the same name.
	Interesting. What are the odds?
	What are the odds? Shocking.
	The future of Bitcoin exchanges, well, I mean, Bitcoin exchanges are safer than meeting someone in a parking lot late at night to exchange your things.
	I've heard some stories.
	I've heard some...
	Run! It's a scam, right?
	So, you know, you get your convenience, you give up your coins, and there could be some centralized regulation and so on, but it's just the way it is right now.
	There's some pretty awesome decentralized exchanges now for Bitcoin and other coins.
	Like, check out BISQ. You need a little bit of Bitcoin to start with it, but then you can be making anonymous trades peer-to-peer online with people all over the world.
	Might be something to look into. There's another project that launched recently, ThorChain, I believe.
	I haven't looked into it. It looks kind of interesting.
	That is supposed to allow for swaps in a decentralized fashion, allow for swaps between any and all other cryptos.
	And that's just one of many, many.
	They're called DEX, D-E-X, Decentralized Exchanges.
	There are all kinds of them out there, so it doesn't take too much looking to find a good option.
	Wall Street energy use is probably off the charts once you consider the energy use needed to import all the cocaine they use.
	I think that's probably a very fair point.
	Here's the thing, too. So, I mean, for those who don't know, one of the biggest environmental disasters in the modern world was Saddam Hussein setting fire to all of his oil rigs as the U.S. invaded in 2003.
	So, you know, if you're really, really concerned about the environment, you'd say, gosh, well, what was funding the War crime of invading Iraq.
	Oh, that's right! It was fiat currency, which led to these kinds of environmental disasters.
	And people say, oh my gosh, what is driving overpopulation?
	Well, the fact that we pay a lot of people to have a lot of kids through the welfare state, as long as they don't have any fathers in the house, it could be said that that is driving a huge amount of poverty.
	I don't know.
	Let's see here. How long until we dig up pics of Steph with Epstein?
	Talk to me privately if you don't mind.
	If there's something I need to know, that would be excellent.
	And, you know, if my Epstein tapes ever get revealed, you guys will truly find out if I look good from, frankly, any angle and every angle known to man.
	All right. Let's see here.
	Landry is much more handsome.
	Everybody knows it, says unknown for you.
	I feel like we're playing among us here.
	Vax coins are coming soon.
	Maybe, maybe.
	Elon's rockets blasting holes in the ozone continues.
	Yeah, see, for Elon Musk, I mean, how much carbon emissions did he come up with to, what is he, $180 billion?
	And how many private jets does he...
	I mean, it's all, I don't know, it's all a bunch of nonsense.
	Environmental concerns is just a way of showing your status these days.
	I'm too wealthy to care about it, to know about it.
	The carbon taxes don't affect me, don't you know?
	Right. Yeah.
	Now, we could go.
	Can we have a dick measuring contest?
	You would need a much bigger television if I would have joined into that.
	So, I don't know that they make them that big.
	Maybe IMAX? Hard to say.
	Hard to say. But no, I think that we will not.
	Lord knows I'm hanging by a thread everywhere on social media as it stands.
	So, let's see here.
	Oh, yeah. What do you guys think of lending your money, lending your bitcoins for...
	Percentage. Have you guys looked into that at all?
	Yes, so there's much more conservative options to where you lend it to an exchange, like blockchain.com will actually give you four, I think four and a half, maybe 4.4% on your Bitcoin.
	So if you want to hold, you know, BTC long term and make some on that, blockchain.com, if people don't know, They were originally blockchain.info.
	I think they were the first browser-based wallets.
	They've got a good reputation.
	They've been in the industry for a very, very long time.
	Not a terrible option if you're looking for a very conservative option to hold your crypto for interest.
	And also, I mean, they give you a greater percentage of interest on Ethereum, Bitcoin Cash, but also they have a stablecoin.
	I forget the name of it, but they're actually giving you 13.3% interest.
	It's a USD stablecoin.
	Where the hell are you going to get that if you are deciding to hold fiat or hold a dollar equivalent, but where are you going to get 13% interest on a traditional bank account?
	Also, be aware that if it sounds too good to be true kind of thing, you know who had really great returns is Bernie Madoff, man.
	That guy could just invest like nobody's business, man.
	He was unbeatable in the market.
	I'd be with you on that, but blockchain.com does have an incredibly good reputation in the industry.
	Sorry? What's that? Landry, one more time.
	I feel this was a pearl of wisdom that flew past my ear like a bullet.
	So I said Bitcoin was too good to be true.
	I never said that.
	Maybe you felt that. I felt that way.
	We're talking about this in 2011.
	Did I say, no, no, it's too good to be true.
	Don't invest. It's too good to be true.
	That's true. Yeah. I hear a lot of positive things about Celsius.
	I have not personally looked into that.
	But there's a guy in the free domain community who pumps it up pretty good, who I think is pretty knowledgeable.
	So it's probably maybe worth looking into.
	There's also BlockFi and a few other ones as well.
	Here's my thoughts on that.
	So the too good to be true aspect, let's just take a hard look at the risks of it.
	There are risks of it. And the risk primarily is once you give up your keys and you send your Bitcoin to someone else, it's out of your control.
	So if that company goes bankrupt, if that company just exits scams, Your Bitcoin is going to be gone.
	The trade-off, of course, is you get, you know, steady interest.
	So, you know, four or five years ago, there's this thing called cloud mining and you could pay someone to mine Bitcoin for you.
	And every month you get these statements that they'd mined this amount of Bitcoin.
	There's a newb I know back then that put a little bit in and just to see how it worked and was making all this money on USD and then found out once they pulled it all out.
	Oh, actually, at the end of the day, he got less Bitcoin than he actually put in in the first place, right?
	I'm not saying BlockFi is a scam.
	It's a black box that you're putting your money into.
	You can't really see what's going on behind the scenes.
	I don't know blockchain's specific model, but in terms of lending it out for interest, there's a risk that you take when it's not your keys, it's not your coins.
	Blockchain's defense, they've been around since the beginning of crypto and they've always had a good reputation.
	The thing that kind of freaks me out about it is like a little earlier we were talking about, you know, what if the government cracks down?
	And then they, as far as I know, they've like never really seriously talked about cracking down as far as like attacking the network because they just don't have any clue about how to even start working on that.
	So I'm not scared of that at all, but I am scared that at some point they're going to want to just go to blockchain.com's offices and just say, hey...
	It's a very real risk.
	In the 30s and the Depression, there was Executive Order 6102 and they didn't go door-to-door collecting everyone's gold.
	The ruling was that... Private citizens couldn't own gold anymore.
	They just went to the banks where 90% of the people had their keys, aka their gold.
	And they said, okay, now it's ours.
	And that's what's going to happen for sure.
	So the question is when?
	I mean, if we lose out on two years of interest in the meantime, then I guess technically we've made a bad decision.
	But year over year, Bitcoin's produced 200% gains.
	Isn't that enough?
	Why are we trying to out-Bitcoin-Bitcoin?
	Let's just hold it.
	200% does make me happy, but 204%, I mean, that's to me tipping right over the edge to sheer joy.
	The 200% is in USD gains.
	The 4% is in, at least you're getting, it's calculated in USD, but you're paid in Bitcoin on that interest.
	So you're getting more Bitcoin.
	Do we have any Etherheads here?
	I'm sorry, go ahead.
	Yeah, do we have any Etherheads here?
	We're getting some questions about Ether.
	And I, of course, as everybody knows, I have PTSD from Ether.
	I was put into a windowless van and beat with a burlap sack full of Ether fees when I tried to sell a collectible version of my novel, Revolutions.
	And I did actually post something.
	It was like a meme from an old Japanese cartoon where it's like...
	I've suffered enough. No, your punishment must be more severe.
	And then he just gets to watch Ether feeds on a transaction until the end of time.
	And that's hell as a whole.
	So, yeah, anybody know what's going on with that?
	Because they're like, no, no, no, we're going to fix that.
	It's like, well, if you had a magic switch to make it functional, wouldn't you switch that before?
	It's like expecting your bias update to triple the speed of your computer.
	It's like, no, no, it's just going to hopefully make it crash less.
	Well, I think it's really only possible to know a lot about one coin.
	If you try to know about more than one, it's just too much for one brain to hold.
	But I remember when Bitcoin was starting to have higher fees And then Vitalik Buterin, who's kind of like the founder of Ethereum, he said, like he was like talking smack, you know, he was like, oh, if Ethereum fees ever get above five cents, like I would just be so embarrassed that the Bitcoin people should be so embarrassed of themselves because this is just, I would never let that happen.
	And then they're like in the exact same position.
	So that was, he didn't live up to his claim right there.
	Everything looks easy until you do it yourself.
	And this is the challenge that anybody's going to have when trying to overturn Bitcoin is you've had, you know, a genius development time since 2009.
	You've got a trillion dollar or so market cap of invested and interested people.
	You know, again, maybe there's a magic switch.
	Generally, though, you know, I try not to manifest too much of the Dunning-Kruger thing.
	Like, you know, this is how ridiculous Elon Musk is, right?
	And, you know, the guy's a great businessman, and I give him all of that.
	He's a real visionary and so on.
	But the idea that he would simply tweet, well, you know, Doge just has to become 100 times faster, 100 times cheaper, and 100 times whatever.
	Come on, man. I mean, this is not a business plan.
	Yeah. Steph, I gotta ask you though, how great of a businessman if he's chasing government subsidies?
	Bruce Fenton shared a tweet that if someone got paid a million dollars a year for every year since Jesus walked the earth, they would not get as much money as Elon Musk has received in government subsidies in the last decade.
	Well, are you saying that it's a bad business practice to get free money?
	It bothers me!
	It bothers you for sure, but that's hate the game, not the player, right?
	I mean, of course, if you're a business – and I faced exactly the same thing when I was in the software field and the government comes along.
	We did contracts with the military and so on.
	You're like, well, I was an objectivist back then and all that, so it was okay for me sort of morally back then because I thought the government should do like courts, the military, maybe a couple of roads and that.
	But – It's tough, right?
	Because if you are on a board and you're making financial decisions for a company and your shareholders find out that you gave up $20 million in free money, you're done and you're gone.
	And they might even sue you for failure to maintain the value of fiduciary irresponsibility or whatever it is.
	So, you know, if you can get free money, you know, there's no better investment than a congressman.
	That's fair, but plenty of CEOs get by every day doing just enough without receiving the amount that he has.
	No, but that's because he's kind of a celebrity guy.
	Most CEOs, you know them if you're in the industry, but you don't know them if you're not.
	The CEO of, I don't know, some big company is not going to host SNL and have some autistic mumblings about being different from everyone else.
	But because he's kind of like a celebrity CEO, he can make people's life difficult as well through his Twitter accounts and through his general publicity as a whole.
	So the fact that he can get more would be a plus, I think, for a lot of people.
	Fair. Now, that brings me to a question I've been wanting to ask there, and it also ties into the environmentalist stuff too.
	All right. Tezos is proof of stake.
	Introduce Tezos. Remember, we've got a newbie audience.
	Yes, so Tezos is a particular cryptocurrency that uses proof-of-stake.
	Proof-of-stake is a different way of securing a blockchain versus proof-of-work like Bitcoin Core, the original cryptocurrency.
	I'm not going to go into the technicals about how proof-of-stake works, but Tezos is also a smart contract platform and allows for private transactions.
	In a nutshell. And I'm also running a staking service for Steph.
	It is a staked coin, so if you want to be able to get your staked interest and be able to help out the show as well, you know, go to jaredwoodard.com forward slash free domain hyphen staking and you can see directions there.
	Also find me in the community.
	I'm all over the place. I'm happy to chat.
	So the question I have for you, Steph, is that am I being market naive when People in the Tezos community go to someone like Elon Musk and say, ooh, you hate energy consumption and proof of work.
	Well, we're a virtually carbon neutral blockchain, you know.
	They call it green.
	They call it clean. They call it eco-friendly.
	And I'm like, guys, that is all commie, politically loaded rhetoric.
	It's all corrupt bullshit.
	You can call it efficient. You can call it economical, which means the same thing without the political baggage.
	Am I being naive or should I let them do the marketing?
	Okay, so tying your future to Elon Musk is like flying with a blindfolded pilot in many ways, right?
	I mean, do you know what he named his son?
	What? I don't.
	I don't think there's any human way to pronounce it.
	So it's X space, and then the AE letters jam together, space A-12.
	I'll put that in the comments there.
	This is who you want to tie your business future into.
	It's kind of crazy, right?
	It's really nutty. Okay, so I'm with you.
	I'm with you in the sense that I told them, I'm like, look, Elon has made an enemy of damn near everybody in the crypto community.
	You do not want to wed Tezos to that, for one thing.
	But now, whenever they try to use the green, the clean, the eco bullshit, should I get mad at that, like you're welcoming commies into the community, or should I be like, hey, have fun, market the coin?
	You know, what do you think?
	So, here's the thing.
	To me, It's a slow and steady wins the race, right?
	It's a slow and steady wins the race, which is you want to just keep building quality and the fundamentals, but as soon as you start trying to hook yourself up to the meteors of unstable figures, public opinions, you may get a boost, but that boost is going to be equally matched by a crash.
	And then the boost plus the crash is going to be worse than the slow and steady building the race, if that makes sense.
	It's sort of like, you know, I really want to lift weights.
	It's like, okay, well, I could take a bunch of steroids and lift more weights.
	It's like, yeah, but then I injured the crap out of my joints that I can't lift ever, right?
	So, to me, you know, the tortoise and the hare thing, I grew up with a hare.
	Like, I know that I'm the tortoise guy par excellence because that, to me, is what...
	It really works and builds a stable foundation.
	So just continuing to work on the quality, continuing to work on the business case for what it is that you do.
	And it's really tempting, you know, if I can get Elon Musk interested in this coin, it's going to go to the moon.
	And it will, and then it will crash.
	And then the reputation will suffer.
	So to me, celebrity stuff, famous people stuff, endorsements from people who don't really understand what's going on.
	It's real close to a pump and dump scenario in my mind.
	Sorry, that didn't answer all my questions.
	My question was about using labels and terminology like green, clean, eco-friendly.
	What that will do is bring people in who don't know those terms are bullshit.
	That's the danger. You don't want those people in the environment.
	Then what will happen is they'll come in because they sold a green vision or a green fantasy and then somebody else will come in and say, well, you know, it's not really green and they'll put a stupid case forward but because they're dumb environmentalists they'll just freak out and dump and it's too unstable.
	Excellent. Thank you. You know, it's like the woman's question is like, you know, like a woman wants to attract a guy, right?
	And maybe she doesn't have the best personality in the world, but she sure as hell can get a push-up bra.
	And, you know, she can put on massive amounts of makeup and she can pretend to be something other than who she is.
	It's like, well, you might get the guy.
	But you're not going to keep the guy and it's going to wound your heart, both of you.
	So I would say just, you know, yeah, I would stay away from that kind of stuff as well.
	And of course, you know, podcasting is very energy efficient relative to university lecturers, but that didn't keep me on any platforms, right?
	The environmentalist didn't say, well, lots of people are learning stuff from this guy and all the people he interviews and all the books he writes and they don't have to get stuff shipped.
	They don't have to have big giant campuses.
	You know, it's like a master series of interviews.
	It's like They don't care.
	If it goes against the leftist agenda, you'll pay.
	I mean, whatever leftist you'll bring in or that kind of stuff, you're going to pay.
	So I think it's a slow but steady in trying to avoid that kind of stuff, in my opinion.
	Copy that. Thanks, man. Yeah, I was gonna say, too, you know, when I was growing up, you look at, like, the authority figures in society, and you think that they have any sort of honesty at all.
	Or you think they have a lot of honesty, and they're telling you the truth.
	And then, you know, some of us, we sort of wake up from that, and then we go, wow!
	Like, Stephane, you've kind of said that You know, when you talk with your mom, it's not like there's...
	you don't know if a single thing she's saying means anything relative to where she actually is inside it, you know?
	And that's how I perceive, you know, people like Elon Musk.
	Like, we have no idea what his actual real opinion's on, or if he even has his own opinions on anything, or if he's just being We don't even know if he's a smart person or if it's just the state that just picked him to be the representative of smart people.
	I don't really trust anything he has to say.
	And I'm surprised that other people do.
	If he had anything of truly interesting and startling information, He wouldn't have SNL. He wouldn't be getting these benefits and bonuses.
	And they would just work to shred him and take him down and all that.
	So to me, you know, I hope this doesn't sound like sour grapes because I wouldn't want to be that prominent.
	But yeah, anybody who's prominent is just there because they're tolerated or beneficial to people in power and all that kind of stuff.
	And he does serve a kind of green agenda.
	And, you know, there's entire graveyards in France full of, like, I think it's mostly a bunch of nonsense.
	He's very expert at getting money from the government.
	I guess that's a benefit as a whole.
	Also, it's like trying to go after Elon Musk is kind of like going after a super hot babe who's out of your league.
	She's like, oh yeah, you can take me out to eat and shower me with gifts and stuff, but I'm not going in the house with you at the end of the night.
	He might toy with you a little bit, but he's not going to...
	Settle down at all.
	Unless his masters tell him it's okay to do it.
	All right. Oh, did he date Amber Heard?
	Elon Musk dated Amber Heard?
	Oh, enough said, man.
	Okay, so Elon Musk really, really liked Amber Heard and now doesn't like Bitcoin.
	Okay, I think we can survive that.
	I think we can survive that.
	All right, let's see.
	He's got seven kids, right?
	He's got seven kids, a bunch of different women.
	Anyway, that's neither here nor there.
	Any other thoughts or comments or questions or issues?
	While we're pig-piling on Elon, he also called for a carbon tax.
	Yeah, carbon tax.
	So completely and utterly screw him for that.
	Oh, no, but it's great for him, right?
	Because a carbon tax would make his cars more valuable.
	Yeah, of course. Yeah. I mean, he's Gail Winand, for those who've read The Fountainhead.
	That's about it. Dev, I just wanted to jump over to Ethereum for a second.
	I know. Yeah, I know. Got an Etherhead in the house.
	Go for it. Yeah.
	I'm not a big Ether guy myself, but I was watching the DLive.
	I was in the DLive chat.
	I was like, okay, I need to get on and just talk about some of the stuff.
	Well, first, before I do, thank you for everything.
	You've really helped change my life in massive, massive ways.
	I appreciate that. It's very kind.
	Thank you. Yeah. So people wanted to learn about crypto.
	So I'll give a disclaimer, not financial advice.
	This is my personal opinion. This is my own.
	And I'm not a tech guy either.
	But I started really getting a deep...
	A deeper understanding of crypto in general when I joined a crypto meetup group.
	So on the Ethereum website, you can go to the Ethereum community.
	Go to Ethereum.org and then go to their community section.
	And if you live in a place where they have a meetup, they have a directory there where you can go and talk to people that are super interested in crypto in your area.
	And I talk to a lot of guys in my area and that's how I kind of Started really getting, you know, a lot more understanding, deeper understanding, finding out like what projects are hot, what people are, what developers are interested in, what they're not interested in.
	So that might be one good thing for people.
	And through that process, I became a Cardano head.
	So I can talk about that.
	Please do. If you guys want to.
	So, Cardano is started by Charles Hoskinson, who was a co-founder of Ethereum.
	But he had a disagreement with Vitalik on what they should do, if they should take VC money or not.
	And he broke off and started Cardano.
	And his YouTube channel is super good.
	He does a lot of AMAs with everybody.
	He was an early Bitcoin guy.
	Really smart.
	Stefan, like you're talking about, kind of more, maybe more of a turtle, you know, very long-term thinking.
	And they just did a deal with the Ethiopian government, biggest blockchain deal ever.
	They're bringing on 5 million students to run all educational credentials through their blockchain there.
	Mark Cuban. Let me back up.
	This past week, when everything dipped, Cardano was one of the only ones in the top 20 to go up.
	It was like 20%.
	It runs on one-tenth of one percent of what Bitcoin does in a year in terms of energy.
	Mark Cuban started asking about it on Twitter.
	He had a back and forth with Charles Hoskinson about it.
	On the environmental side.
	So I think that was kind of like the buzz of this past week of just kind of the energy usage and all that stuff.
	But maybe to Jared's point, I also used the proof of stake, which is instead of proof of work, which I don't super understand.
	I know maybe you guys can give me a little bit more insight into that.
	I know it's based on solving math problems, right?
	But proof of stake is, you know, you can validate transactions People who can mine and validate transactions based on how many tokens they have, how many coins they have.
	And they have a super easy way to stake through their wallets.
	That's super simple.
	So it's kind of like a passive income type of thing once you build up ADA, which is their currency.
	But Charles is just an incredible mind, super interesting to listen to.
	If you don't even buy Cardano or you don't care about Cardano or you don't want to follow the project, at least check out his YouTube channel because he's a...
	He's about crypto for the world.
	He's not about like, oh, Cardano is the only project.
	He just wants crypto in general to succeed.
	He hated when Elon was pushing Dogecoin and he was like, oh, this is just going to invite regulation.
	He volunteered for Ron Paul's campaign way back in the day.
	So he's kind of got a libertarian bent to him.
	That's kind of my 122nd elevator pitch for Cardano.
	I will look into it. Thank you. Again, not financial advice.
	My personal opinion. It's my favorite project.
	Do you mind if I piggyback after that?
	So, for one, Michael, nice to have you, man.
	Welcome. So, Cardano has been historically Tezos' biggest competitor in comparison-wise.
	Now, Cardano is blowing it out of the water in terms of market cap.
	Like, I think they're in number four.
	Tezos is down to like 32, 37, floating in that area.
	And from within the Tesla community, we don't get it.
	We're practically doing a lot more on-chain.
	We've got smart contracts.
	We're in the trenches doing stuff.
	But Cardano has been, not to say it would always be there or stay this way, but developing, developing, developing, developing with a lot less actually being done in practical use.
	What was the other thing I was going to share?
	Now, yeah, if you listen to Charles Hoskinson, he does come across or he probably is incredibly intelligent.
	He's well well spoken.
	He's like intelligent enough that I'm not smart enough to qualify if he even knows what he's talking about.
	Not necessarily a high bar though.
	Let's see, what else about Cardano?
	Yeah, so it's proof of stake.
	It's going to be a smart contract platform and it's largely in competition with Tezos.
	That's about as much as I know from it right now.
	In the more like gossip area and the hearsay stuff.
	I know, Steph likes a little gossip.
	So Charles Hoskinson and Dan Larimer started a project called BitShares, which I don't recall the details about.
	I don't remember if it was positive or negative.
	Dan Larimer went on to start EOS, which is EOS is another blockchain.
	And I'm not entirely sure if it's fair to qualify them as proof of work or proof of stake.
	But it also looks incredibly centralized, like there's only 21 nodes, if I recall correctly, but people are competing to be that node.
	So there is some kind of a market aspect there.
	But last time I heard, again, hearsay, that was all pretty much ran by the Chinese.
	So still pretty centralized in that way.
	So anyways, so Hoskinson and Larimer, so this is where we get into the gossip.
	Okay, so they're both coming out of the DC area, like that surrounding area, and have seemingly Fed ties.
	But again, that is complete and utter juicy gossip hearsay.
	So anytime someone's got a Fed relationship in crypto, it is very, very much taken note of.
	Yeah, Jared. Please.
	Really quick. I just have a quick question about Tezos because in terms of market demand, I tried to buy some SHIB inu coin just for fun last week.
	And to buy some of it using MetaMask, the fees were 5x what the transaction was going to be.
	I don't use MetaMask very much, but I was like, oh, wow.
	This is the market demand that Ethereum is not serving right now, in which Cardano is going to come in and have very low fees.
	Is Tezos competing with Ethereum on the same low fee type of promise?
	I guess you guys already have smart contracts, right?
	Yes. We just blew up in the contract world with NFTs and this NFT platform getting launched, hick at none, which means here and now, but it sounds...
	Anyways, that's another thing.
	But yeah, like a million contract calls in a month, and roughly you're looking at about 30 cents for a contract call, and there's already stuff in the pipeline to bring that down at the moment.
	And a transaction is...
	The last transaction I did was less than a penny.
	Now, I do believe that Tezos, like many growing blockchains, will hit their, like, oh, we need to, you know, we hit where it's worth a lot, and now the fees are not what they used to be.
	So that is something that, you know, we're going to, I think that's one of those situations where it's like, that's the problem we want to have.
	And we are, you know, Everybody's looking to solve that, you know, as it comes along.
	Yeah, and one of the things that, even though I'm not a techie guy, one of the things that attracts me to Cardano project is Like you were saying, developing, developing, right?
	They're launching smart contracts at the end of the summer is what they predict.
	But one of the reasons for that, that they give, that Charles gives, is they started out as like a research, you know, company, right?
	They spent, I think they've got like 105 studies, not studies, but what is it when someone at a university like does a paper, peer review paper?
	Okay. Yeah. So they're like really in the academic world in terms of like ironing out the technology.
	And Steph, maybe this is where you can come in with your tech background.
	You can talk about, you know, scalability and how you build the technology platform from the ground so that it can scale, so that it can grow.
	So I think that's why their project is taking longer for the smart contracts because they really wanted to make sure they had everything down pat, like from an academic standpoint and getting super smart mathematicians and cryptographers.
	To figure that out so that the fees won't go crazy when everything scales and that the system can handle it when it scales.
	Hoskinson always talks about, you know, I want millions of people to use this.
	I want billions of people to use this.
	We're building a world infrastructure, right?
	What I'm curious about is, does Cardano have a governance aspect to its protocol?
	Yeah, so you go to their website, they have different eras of development and governance is like their final one.
	And right now they're in a smart contract era.
	So, yeah, the big question about scalability, this is just my thoughts on it, and it goes all the way back to a book I wrote many years ago called Practical Anarchy.
	So in Practical Anarchy, the question is, without a state, how do you deal with contracts?
	And this is kind of what is happening in the crypto world, right?
	We don't have a centralized government to deal with contracts.
	Now, of course, fun fact, the government can't deal with contracts, because if you've ever tried to use the government to enforce a contract, you just know what a ridiculous, money-hungry...
	Lawyer-fattening veal pen of humiliation it is.
	So the only people who think that you need the government to run contracts are people who've never tried to enforce a contract through the state or, of course, big corporations with lawyers on staff who use the regulations to intimidate or bully other companies.
	So the way that I talked about it in Practical Anarchy was that...
	It's like most things.
	When you're an unknown, the price tends to be higher.
	If you won't answer your age or whether you smoke or whether you exercise or your weight on a life insurance policy, well, it's going to be pretty expensive to insure you because there's not much information, so they've just got to take the average of the worst-case scenarios.
	And, of course, your refusal to answer those questions probably means the answers aren't that good.
	So the way that it would work in a free society is it's, you know, kind of expensive to insure your contracts as you start.
	But as you go forward, you would gain credibility over time, right?
	So I remember once when I was in the business world, a company I was working for was not doing very well.
	They weren't giving me my expenses.
	Like, so you go on a business trip, you pay everything for yourself, and then you get your expenses back from the company.
	And so I had a company card.
	It was like four months they hadn't given me my expenses.
	So I had a whole bunch of stuff to buy, so I just bought it on the company card.
	And, you know, they got really mad at me.
	And I'm like, well, you don't give me my money.
	I'm just gonna have to take it. Like, sorry.
	If you want me to fund your company, then give me some shares.
	But if you're going to take my money for business expenses but not pay me back and not give me any shares, that's kind of like stealing from me, right?
	So they got really mad at me.
	And you're cheating.
	And I said, look, I've been working with this company for two years.
	Do you think, do you genuinely think that I built up all this credibility throughout my entire career to blow it on $2,500 that you owe me that I simply took out of the credit card?
	Because you'll pay Visa, right?
	You're just not going to pay me.
	You'll pay the Visa of your credit card.
	You won't pay me.
	So we had this big, you know, anyway, after that, they paid my bills on time because they recognized I was just going to take the money either way.
	And it was very essential to the business.
	So this idea that if you've built up decades of credibility or years of credibility, you're not just going to blow it.
	So the way that I would see it, and I don't know how this would work in the Bitcoin universe, but I know that there's lots of smart contract cryptos out there where they would keep track of how many successful transactions you've had.
	It's the same thing that you do on various sites, eBay or whatever, where you say 99% satisfied customers.
	They always send their stuff, and that means that they can charge a little bit more, don't have to provide some other advantage because they have the advantage of credibility.
	So what I want to see in a crypto is, okay, how many times has this person used transactions?
	There haven't been reversed, there haven't been complaints, there haven't been problems, there haven't been issues.
	Because then what happens is you can have a settlement layer, like a lightning network, that is based upon Consistency of reputation, like having a high reputation.
	And if you have a high reputation, you can settle it later.
	Now, the people who've got low reputation or bad reputation, you want to try and settle them first in case it's reversed or something like that happens.
	And again, I know you can't reverse in Bitcoin, but if it's an exchange sort of situation.
	I always love it when virtue, they say, is its own reward, but it's nice when you get rewarded in a more tangible format.
	So I think that the way it's going to run over time is there's going to be, because people are saying, oh, only seven transactions a second through Bitcoin.
	It's like, well, yeah, but I mean, if you're a business, then people will accept that the transaction is going to go through, even if it hasn't shown up on the blockchain yet.
	And maybe there'll be insurance in case the business just goes completely tits up between the time it commits to the transaction and the time it settles.
	So you can have a stretch of time.
	You know how this works, right?
	You pay something on Visa, it doesn't show up in your account until a day or two later, and then you don't have to pay it for another couple of weeks.
	So delays in settlement is not a killer for any kind of transaction system.
	It just means that the better your reputation, the more you can stretch that out.
	So I would like to see a layer that sits on top of something like Bitcoin, which is reputational-based.
	And if you have a good reputation, yeah, you can settle it later, and that won't be such a big issue when the price stabilizes to some degree, or when it's worth more down the road, which is good too.
	too.
	So that's, you know, I know that's kind of tough to program on Bitcoin because it did lose some of the smart contract stuff, but there's definitely lots of cryptos where that could work and that you could maybe eventually settle it in Bitcoin if you wanted.
	Yeah, one of the things that Hoskinson is super into is at the end of a lot of his AMAs, he'll make a donation, not a donation, he'll make a microfinance loan to someone in a developing country to farm or to do some project in there.
	And, you know, they want to use Cardano as a platform for other dApps to build on where you can use that kind of reputation management for For the people in developing country where, you know, they don't really have easy ways to access credit and that sort of financial, those financial services.
	And so, I mean, that's one use case, but just, you know, a case study for that reputation concept.
	Somebody else wanted to point out as well, when they were talking about energy uses of currency, that the entire American military, which props up the petrodollar or pops up the US dollar as an imperial currency, as a reserve currency, that the energy requirements of the military to prop up the currency, not to mention the tax system to collect it for the governments and so on.
	You put all of that stuff together and Bitcoin, it's like a fart in a windstorm with regards to all the power requirements of that.
	Alright, let's just see if we've got any more queues.
	Oh no, I've gone 10 minutes without checking on Bitcoin.
	Yeah, you've got to wean yourself at that habit, man.
	You've got to just let it roll.
	I've gone days without checking it, because it's a long-term thing these days, so...
	Yeah, I wanted to add to what Michael said about the meetup groups.
	I actually founded the one in my city and ran it for a few years.
	They're really cool. They're all over the place.
	They're kind of like churches in a way, but you just go there and talk about Bitcoin and crypto and stuff.
	And there'll be presentations and you can connect with a lot of people and learn a lot.
	If you just go to meetup.com and then just search for Bitcoin or Ethereum even, You'll get the ones that are within, like, 50 miles of you.
	And a lot of them meet regularly, like, every couple weeks or once a month.
	You know how if you're trying to quit an addiction, you go to the AA, Alcoholics Anonymous or Narcotics Anonymous or whatever it is, then you get a buddy, right?
	You get, I don't know what they're called, somebody who's your coach or somebody who's your buddy.
	If you're quitting an addiction to fiat currency, man, you need a buddy.
	You need someone who's going to intervene and bitch slap the hell out of you if you want to trade.
	You know, like, I'm panicking, man.
	It's like, okay, man, you know cocaine is bad for you.
	You know, and remember what your life was like on cocaine.
	Remember what your life was like on fiat currency and you had to invest in all this bullshit just to try and avoid inflation.
	You had all of this stress. So, man, just remember what it's like when you're addicted and just...
	You know, just, you know, cold water, whatever it's going to be, a hot towel massage with a Swedish masseuse or something like that.
	You need a buddy and you can get those kind of buddies through Bitcoin meetups where you just have people you can call.
	A sponsor! That's the word I'm trying to think of.
	You need a sponsor who's going to talk you out of the tree when you've attempted to relapse into murder coin.
	Yeah, I remember my wife...
	Like, the reason why I originally founded it is my wife was like, you need someone else to talk to about this.
	I am sick of hearing you talk about this.
	Yes, and certainly if you're whining too much.
	Let's see. Freedom and opinions about block size, scalability, BSV, the fact that the white paper proposed a digital cash system and Bitcoin is failing that.
	Okay, so Bitcoin is failing that because it's succeeding.
	I mean, let's just be realistic about that.
	Whatever you think of the blockchain wars, and there's a lot to say in the alternate history and the what-if scenarios and all of that.
	But the idea that Bitcoin is failing when it's the fastest asset in human history to get it to a trillion dollar valuation.
	Boy, I'd hate to date you, man.
	I mean, like in terms of like, it's just not perfect enough.
	It's been the greatest growth and protector of inflation and human liberty that the world has ever seen.
	But it's not exactly the same as the white paper from the very origins.
	It's like, yeah, my show's changed over time too, right?
	So I do think that you do need a parallel network for faster situations, right?
	And maybe that parallel network is another crypto.
	Maybe that parallel network is the lightning system where – and this is the way the big financial systems work, right?
	You get something that happens at a top layer and that eventually resolves down to the bottom where the double ledger is and all of that.
	So don't worry about it, man.
	Don't worry about it. You've got to find some way to trust.
	Like, if you can't trust incredibly brilliant, highly motivated people to solve problems, I don't know who you can trust.
	Like, at some point in this life, you've got to trust someone.
	Maybe it's your wife. Maybe it's your dog.
	Maybe it's your kids. Maybe it's the guy who cleans your toilet.
	I don't know, right? You've got to trust someone.
	Someone. And this, you know, nail-biting, oh my god, you know, it's like you have an incredibly ideologically driven and motivated community of incredibly brilliant people, all pretty well versed in Austrian economics, all who understand the Fiat murder coin Titanic scenario, all of whom are designing the best conceivable lifeboats.
	That there are. And you say, well, the life bones aren't as good as the Titanic, but the Titanic is going down.
	So anything that's dry is an improvement.
	And, you know, I would say relax and enjoy it.
	That's what I'm trying to do. Because you can talk yourself in and out of any potential negative scenario.
	What if the government just completely clamps down on it?
	It's like, well, yeah, but then people will sue the living crap out of the government and get it reversed because the government has simply destroyed...
	The value of their income. And America, being a litigious society, is pretty horrendous in some ways, but you think you're going to wipe out a trillion dollars worth of value with the government and not have the living shit sued out of you and get it reversed?
	You don't think you're going to wake up?
	I mean, Jesus, people are putting pigs' heads on the doorsteps of people who testified in the Chauvin trial.
	You don't think that you're going to get some attention from people if you try and wipe out a trillion dollars worth of value?
	So you can worry about all of this stuff.
	But, you know, I hate to be annoying older guy, right?
	Am I the oldest one here? Yeah, probably, anyway.
	So, but the older guy thing is, you know, I was like nervous about, oh my gosh, what if I get deplatformed?
	Oh my gosh, I spent 15 years building up.
	Do you know I had more followers than Sting?
	Roxanne! Even though it could be argued he's a slightly better singer.
	So, And then it came and it went, and hey, still here, still having a great time, still enjoying my life, everything's fine, you know, everything's good.
	In fact, in some ways, it's a lot more relaxing and a lot more enjoyable to be out of the constant hellscape of politics, and it's nice not having reporters calling me up every day saying, okay, if I make up this sinister fact about you, would you like that?
	Do you want that? Is that going to be fun for you?
	It's really nice to not have to pay that game.
	And, yeah, it's nice not having to give speeches with bomb and death threats.
	It's nice not having, you know, followers attacked whenever they try and come and meet me and all of that and all of that, right?
	And it's nice not having to hang around with all the people who are still desperately clinging on to the fading legitimacy of the mainstream platform.
	So, anyway, it's fine.
	You know, oh, the Bitcoin price goes down.
	And, man, I was there from $20,000 to $3,000.
	And so what? It went back up afterwards and you think of all that.
	I mean, you guys can think of this.
	All the things that you worry about, all the things that you're concerned about.
	Everyone's still here. You all got the same number of fingers and toes as when you started.
	I still have most of my teeth and all of that.
	And so, yeah, oh, you know, it doesn't do what the white paper said originally.
	Who cares? I'm sorry to say this is such a godsend.
	You really are, you know, You've got to learn to love some things in life and love involves trust and if you are complaining about Bitcoin when otherwise we'd all be circling the drain in the fiat currency hellscape and we'd all be going full Weimar, if you got the balls to complain about an A completely unexpected lifeboat when you were looking to go full Leo DiCaprio down to the bottom of the ocean.
	Man, the problem is not with Bitcoin, I'm afraid to say.
	The problem is with you being unable to appreciate the great things that have come your way.
	And is it everything that people fantasized it would be?
	Well, that fantasy is just a recipe for unhappiness, right?
	You've got to have a gap analysis between what you expect and what you achieve versus what's a benefit.
	And if you expect absolute perfection and you don't get it, you just, you know, welcome to a life of misery that not even Bitcoin can make you happy.
	It's still so early, too.
	Like, if anybody was gonna be upset about, like, the white paper not being strictly followed, like, I'm that guy.
	But I've realized this is just so early, like, where the amount of winning that has happened, like, up to this point is beyond what I would ever hope for.
	Whether or not the Lightning Network figures out how to be more usable or if Bitcoin itself just raises the block size at some point, it's fine.
	There's no reason to worry about it at this point, I think.
	There's still lots of winning happening.
	And what's your worrying going to do?
	I mean, unless you're going to start taking a leadership position in the development community, which, you know, you're going to have to fight to the death, I think, for some of this.
	You know, if you really want to worry, not that you can do anything about this, 39 million households, including most U.S. children, to get up to $3,600 stimulus in monthly payments going forward.
	What's that, $4 trillion? Of course, you know, Joe Biden probably can't count that many zeros given his current cognitive decline, but...
	Did you say monthly?
	Yeah. Four trillion monthly.
	No, no, no. It's not four trillion a month.
	It's four trillion total. And of course, it'll probably end up being more than that.
	But yeah, the estimate is almost 40 million households to get up to 3,600 US stimulus in monthly payments.
	I'm going to say it again, but with Bitcoin, there's just, like, if I'm honest, there's really just not a need to be usable as a currency right now.
	Like, what people want, really, is to just have something where they can store value in it.
	And I can admit, it's funny it took me so long to admit that, but, like, When the currency aspect of it becomes more of a thing that people want, then somehow that's going to come about.
	Bitcoin is your freezer.
	Whatever is the lightning network, that's your fridge.
	You've got a freezer in the basement where you just throw food in, which you buy cheap because it's going to go up.
	Bitcoin is your freezer.
	It's perfectly valuable. As a store of value.
	It's not something you're going to cook from every day.
	That's your fridge and your stove and all of that.
	But it's like saying, well, you can't eat directly what came out of the freezer.
	It's like, yeah, that's not what it's for, man.
	You understand? It's still good to have a freezer.
	Nobody's really even asking for it to be a currency right now.
	Like, I like it. Like, I'll drive, you know, hours to get coffee or something, but...
	I do find though, Tim, to your point, like the people that are asking it to be a currency are the people that have a competitive currency.
	And that's the proposition of another coin, right?
	So I'm not trying to dog on the other coins, but I'm Bitcoin only, obviously.
	I try to advocate for that perspective.
	And using the lifeboat analogy, you just want the lifeboat not to sink.
	That's rule one. If your lifeboat has any potential of sinking, That's not going to work out well.
	And we can work on the speed of the lifeboat.
	We can work on the other aspects, how cool the paint job is on the lifeboat.
	But first and foremost, we need to make sure the lifeboat doesn't sink.
	And that's been the primacy of Bitcoin development as it's been happening.
	And any trade-off where it's like a fork in the road, where it's like, are we going to go with security here?
	Are we going to go with Ease of use or transaction speed or any other kind of compatibility thing, we've gone with security.
	And the market has so far been pointing in the direction of, I always want to store it well.
	You would agree that at some point, like the lifeboat's not going down, we can work on other things.
	We can get more people into it.
	We can get it faster. At some point, like, okay guys, you've done enough effort.
	There's enough pontoons on it.
	That five foot pallet isn't going under the water.
	Totally. And that's a great point.
	But we don't know where that point is because it's like we're on a lifeboat and at some point the Titanic goes down and it starts sucking things down with it.
	That's kind of the dilemma of life.
	We have these... We got life, liberty, and happiness and we're trading amongst the three of them trying to get the best of all of them.
	It's not one dimension that we're looking at and saying this or...
	You know, I'll sink the whole damn thing.
	Totally, yeah. And so when that huge Titanic sinks, and it hasn't sunk yet, but we can see, you know, it's up in the air at the very least, right?
	It's going to have a sucking force when it goes under the water there.
	And so, you know...
	Maybe we overbuilt the lifeboat, right?
	I can accept that as a possibility, but underbuilding the lifeboat and Bitcoin is the one that has consistently stuck to security and at the expense probably of transactability and other things, right?
	So that's why I'm going in that direction.
	Once the Titanic is sunken out of the way, yeah, probably the speedboats are cool again.
	Yeah, and security in a more technical dimension.
	I mean, there's a security loss, in my opinion, at not having more and more people use it, individuals knowing about it, using it directly.
	There's a trade-off there, in my opinion.
	Yeah, for sure. The social scalability, is that something Nick Szabo talked about?
	Sorry, I was recommending other people.
	Check out Nick Zabo's blog called Unenumerated.
	Fantastic. A lot of the things that people are bringing up now, like, oh, that's a cool new idea.
	If you're into the space, you're like, this is so cool.
	We probably talked about it in a Bitcoin talk forum like eight years ago.
	And definitely, when I came into the space, there was a lot of talk about a lot of things that are now new ideas.
	Red Pill, do you remember...
	And I may have the name wrong, but back from Bitcoin Talk, do you remember BattleCoin?
	I think it was 2014 someone brought it up.
	That's for me. That's before my time.
	Okay, so BattleCoin was this proposition.
	People saw all these new coins coming onto the market and a lot of them were scammy or just incompetent.
	So BattleCoin, the proposition with that was you take this coin and you find a way to, I don't know if it was ever more than a meme, but basically what you do is you get You have adaptive hashing power for different algorithms, and then you reorganize and destroy all these other chains that are underpowered and things like that.
	I know it's really trolly, even malicious, you could say, but I always thought that was a fun one.
	As Doge has risen in value, I remember Battlecoin very fondly.
	I've got a question for you.
	Sorry, go ahead. Steph, I've got a question for you.
	I know you've got a tech background and a marketing background.
	So if you're putting on your marketing hat and your PR hat here for a second, and you may say, hey, I don't care because, you know, more Bitcoin for me, I can buy a lower price.
	But I think whether or not we like it, you know, Bitcoin is going to have that public perception.
	It's going to now have that PR environmental issue.
	And if you agree that more people using Bitcoin and more people getting Bitcoin is, you know, will help its success, how would you approach the PR kind of debacle that it's got right now?
	If you were, you know, say you're on a CNBC or maybe you're, you know, the The head of a big crypto fund, right?
	And you're trying to, like, calm your investors.
	Well, so my answer to that is, imagine you're running a university, and you want your university to have a reputation of producing the best and the brightest scholars, right?
	So, who do you want to get into your university as students?
	Smartest possible people.
	See, I don't view Bitcoin as a widget that you want to sell to everyone.
	I view Bitcoin as I want the very smartest and long-term people in there.
	I said this before, man.
	I was a universalist until last summer.
	And I was working for the people, and I was working for the masses, and I thought that was what I was all about, man.
	And I did that for 40 years.
	You know, I did that for 15 years publicly, took a lot of hits, took a lot of bullets, took a lot of harsh medicine for that, and I'm very, very glad that I did that.
	And then... Post-de-platforming, I'm just telling you the intellectual journey, and hopefully it will make sense.
	So post-de-platforming, I'm a very big one for organizing and planning what it is that I do, and almost nothing that I do in the show is accidental.
	I mean, it's all part of a sort of big wall chart stuff that I got going on.
	So my big wall chart stuff was when I realized that, as I said, maybe 2% or 3% of my audience followed me one website over.
	Okay, so I have this as a general principle.
	You treat people the very best you can the first time you meet them, and after that, you treat them as they treat you.
	And so when the audience said, hmm, it was entertaining, then he was right in front of me, but if he's gone one website over, I could care less.
	Okay, then again, no anger.
	It's just data. It's just a fact for me.
	So I want Bitcoin to be exclusive.
	I want Bitcoin to be elite in terms of nothing to do with class, nothing to do with race or gender or anything like that.
	Just the smarts.
	I want the smartest people in there.
	So to me, if I work really, really hard to overcome objections about energy usage that literally five seconds thought can dispel on your own, then what I'm doing is saying here, I want to run this elite university.
	I'm going to write your exam for you.
	And I'm just going to shovel you into this university.
	And then I'm going to wonder why the reputation of my university keeps going down.
	I don't want dumb people in the crypto space.
	I just don't. Because they're going to discredit it.
	And I don't want people who don't take self-ownership in the crypto space.
	Because then, when something goes down, Are they going to say, oh, you know, I can manage my emotions because I'm a smart guy, I can look at the long-term big picture?
	No! They're going to panic, they're going to sell, and they're going to blame the technology, they're going to blame the energy consumption, they're going to say that they're virtuous for doing it because they can't handle...
	Self-criticism and they can't handle having made a mistake.
	And then when the price goes back up, they're going to say, well, I'm glad I'm out of that currency which rapes the environment and is used to fund criminals.
	And they're just going to, you know, I don't even want them within a thousand miles of the space, frankly.
	So I'll put some arguments out like I did earlier, you know, but I'm not going to go into it.
	Like I've been thinking, should I do a truth about Bitcoin energy consumption?
	And I'm like... No, because it's so obviously a red herring.
	Please don't do that. Yeah, yeah.
	It's such an obvious red herring.
	And if you fall for it, Bitcoin is not for you.
	And it's not because I want to hoard or because I don't like them.
	It's just it's not for you.
	If you take someone with an IQ of 100 and you put them in an elite university, They're going to have a miserable time.
	They're going to slow down the class.
	They're going to get angry, resentful.
	They're going to sue you, maybe.
	What they're going to do is when they finally bomb out a university and they're in debt and they didn't get what they want, they're going to spend the next 50 years of their life trashing your university out there.
	And you absolutely do not want...
	Average IQ people in an elite university.
	One of the guys I played Dungeons& Dragons with was just about the best math guy in the entire high school.
	That was a pretty big high school, like 1,500 students or whatever.
	And he would get like more than 100% on his math tests, you know, where I was struggling to break into the 70s, right?
	So he would get... Because he would just do extra work and show more and do extra, you know, just do extra stuff on the back.
	And, you know, he got over 100%.
	So he got pretty cocky.
	And I don't blame him for that.
	He's very good at math and very good at physics.
	So he thought, you know, I'm going to go to the toughest university around and I'm going to take a math and physics double major.
	Not... Math with a minor in physics, like straight up, double shotgun to the brain, like straight up.
	And he couldn't do it.
	And he got so stressed that he ended up in hospital.
	He was enraged because what they would do is give you really tough tests and then they would grade up to the curve.
	And it was the first time he'd really encountered something that didn't come easily for him.
	And, you know, I remember talking to him actually in the hospital saying, well, why don't you just...
	Why don't you just cut back and just do a one major and like, why don't you just scale it back?
	He's like, no! Because he had the vanity, right?
	He's like, I can do this.
	And it ended up blowing up his life for a long time.
	You know, he bombed out because he just physically couldn't handle it with all the stress because he had this, you know, this is my image of who I can be.
	This is what's actually happening.
	Listen, when I was in university, I was the best actor in the university, and I would always get cast in the leads, and that's what I did, right?
	Everybody was like, all the directors are dying to work with me, and I remember reading for one professor who was a professor of drama, and I actually had no idea he'd already chosen me for the role.
	I thought it was an audition.
	He was like, no, no, no, I saw you work in Macbeth or whatever, and you're the guy.
	Now, then I went to the National Theatre School, which takes like 1% of applicants, and these are like the 16 best youth actors in...
	In Canada and you know so suddenly I'm like the big fish in a little pond and now I'm just an average fish in a big pond and you know these kinds of transitions you got to have.
	I don't mind the Elon Musk stuff.
	I don't mind the FUD stuff.
	I don't mind because all it is is ooga booga stuff to keep people who can't handle fire away from the fireplace and for people to stay out of the elite university of Bitcoin.
	And listen, when Bitcoin gets friendlier user interfaces and gets a lightning network and people have to think about it and it becomes not DOS but a touch screen, you know, whatever, so people can just play Candy Crush and while away their time.
	No problem. But right now, I don't want to spend a lot of time, effort and energy overcoming the fear, uncertainty and doubt stuff because it's keeping people away from what they cannot handle.
	Because if you can't think through this stuff, how can you handle potential significant wealth from Bitcoin going up?
	How can you handle...
	The roller coaster.
	You can't. People, you know, they have these height requirements that rides, right?
	And that's good, right?
	You don't want kids bouncing around the roller coaster and flying off into the air.
	And you've got, to me, there's a smart requirement for Bitcoin and the people who are putting out all of the fear, uncertainty, and doubt stuff, all of the environmental stuff and all of the used by criminals and the dark web and there's drug deals, all right?
	Good. I mean, they're doing God's own work, as far as I'm concerned, because they're keeping the dummies out of the university, which means that the university's reputation is only going to be enhanced, because the marketing for Bitcoin is the smartest and coolest people are into it.
	And look, you guys are all very smart and very cool, and I love doing these roundtables with you guys because of that very reason.
	And if you get a bunch of hyper-reactionary, immature, leftist dummies in here, we lose our cool factor, and that's going to be more costly than anything.
	So I say, To the dummies, to the easily programmed, to the emotionally volatile, to the reactionary, to, you know, it's not for you, man.
	Maybe it'll be for you later, but it's not for you now.
	And, you know, please, you know, don't pierce through the smoke clouds that cover this shining city.
	Don't, you know, this is called Skulch, as far as I'm concerned.
	You don't just open up a railway to dummy town or something and ship everyone in.
	Yeah, also, I think we're...
	Like, past the escape velocity at this point, where if, you know, basically, if all the sort of important thought leaders in crypto were to just stop trying, it's still going to be successful.
	So, I don't think we...
	But it'll be faster, sorry to interrupt, it'll be faster in its success if the dummies don't come in too soon.
	Yeah, and I'm sure you would prefer if your audience Had a larger share than otherwise.
	Oh, yeah. Before, I was like, let's save the world.
	Now I'm like, free domain listeners, I'm here for you, man.
	I am your Israeli rocket shield from fiat currency.
	I am here for you.
	We've got a small, concentrated audience.
	All the very smartest people followed me over.
	All the very smartest and wisest people are still in the conversation.
	I'm here for you to help with the rest of the world.
	You know, like, honestly, not to hell like I don't care, but, you know, like, as far as where my focus is, it is on building and retaining value in this core community of human deities known as the free domain listeners.
	That's my concern. So I'm not reaching out, you know, to You know, with the election 2016 or whatever, I'm like, oh yeah, the media's lying a whole bunch.
	I'm going to dumb it down for people.
	I'm going to break it down for people so even the dumbest people can understand and all of that.
	And, you know, I'm glad I did it.
	No regrets. But yeah, when it comes to this stuff now, I'm here for you guys and for the people who are listening to and watching this.
	I want you to survive and thrive and flourish in the coming catastrophe.
	As far as the rest of the world goes, you know, it's not like I'm indifferent.
	But, you know, treat people as they treat you.
	If they're indifferent to me, I'm going to focus on the people that there's a shared exchange of value.
	That's fun. I just wanted to say...
	Just to bring it just to free domain for a second, not crypto.
	I don't know if anyone's ever given you this potential way of looking at, you know, your audience moving or not moving with you.
	But, you know, as I said, you know, your work is massively helpful to me.
	And one of the things that I remember you said in one of your shows is, my goal is for you to not need free domain one day.
	I'm going to be dead, so that would be good.
	I just wanted to sneak that in there and say that maybe there's a lot more people out there that have gone on and they're experiencing a greater, more joyful, fulfilled life and your work helped them jump to that phase of their life and they just haven't checked back with you in a while.
	No, and I appreciate that's a very, very kind thing to say.
	And it's very, very thoughtful.
	Unfortunately, it's just not true.
	Simply because, no, and I say this with all due respect for the concern and care that you bring into the conversation.
	But, you know, the significant drop off was right at the deplatforming.
	So I don't think everybody just in a coincidence in the week that I was deplatformed just got wiser and didn't need me anymore.
	You know, the timeframe was a little bit too abrupt, if that makes sense.
	You know, it's like, I think he just decided to change direction.
	No, he was hit by a semi.
	Oh, okay. So maybe he just decided to walk right.
	But no, it's a very kind thing that you're saying.
	And there certainly is that aspect of things for sure.
	And I appreciate that.
	And yeah, I mean, it would be great, of course, if people incorporated what I talk about and what philosophy teaches and instructs and brings it in.
	I think that's wonderful. And I certainly never, ever complain about people turning their heels and going on with their lives.
	I think that's always been a general process.
	But no, the fact that it happened within a week.
	Again, very, very kind thought.
	All right. Any other last questions or comments on the crypto space as a whole?
	I did have one last point I thought of for Michael with Cardano.
	Something to look into is that Cardano seems to be, and I don't know the absolute case, but very dependent on Charles Hoskinson as a figure, as a leader.
	Like, you know, there's a dollar value, you know, a crypto value, I should say, to him showing up and doing his podcast on a regular basis.
	And but there's also a risk there that if something happens to him, you know, what's that going to do to the coin?
	What's that going to do to the project?
	Can it last in comparison with Tezos?
	Now, there's a similar thing with Arthur Brightman.
	But from the beginning, he's had plans set up and treated the position in such a way that he's not treated like, you know, a founder that the coin depends on kind of thing.
	And maybe that's the case with Cardano, too.
	And I just don't know it. Yeah, that's a good point.
	There was a car crash rumor about Vitalik Buterin, I think four or five years ago, and the price of Ethereum was like...
	Oh, wow.
	Yeah. Yeah, well, Jared, is Tezos fully decentralized?
	Is there any central nodes or nodes from the original developers?
	I don't know. I'm not sure what you mean.
	Like, for example, and again, I'm not a tech guy, so maybe I'm watching some of this, but...
	Like the Cardano development team, like the core team that started the project, like in March, they officially went to D equals zero, which basically means like the entire network is fully with the stake operators.
	It's not with any with the original development team.
	It's just with stake operators.
	Same here, the only caveat I would say is that, and I think Cardano has a foundation as well, and I'm not sure the tribulations they've had with that.
	And maybe Cardano's foundation operates nodes, and I don't know that, whether they do or don't.
	But as far as the staking operation, there's...
	I think over a thousand bakers, you know, securing the Tezos blockchain.
	And no, it's not dependent on a central team or anything like that.
	Now, the foundation does run a couple nodes as well, you know, so that is an aspect of it.
	But it's by no means ruled and determined by the foundation.
	And if anything, The foundation can virtually do very little.
	They don't have a lot of sway.
	Again, this is hitting the bounds of my knowledge here, too.
	They can write some checks for marketing.
	They can throw some money at development, which they do, and it's been successful.
	They're getting good bang for their buck.
	And we've got, you know, a war chest that's going to last as long as it could need to.
	But as far as it being dependent on a central team, we don't have that.
	Yeah. Yeah, but I think you bring up a good point.
	I mean, will it hurt or help in the long term?
	I don't think anybody really knows.
	But I think it's also don't underestimate good leadership, too, in this space.
	That's a very good point.
	Yeah. Putting on a business lens for a second.
	People want to follow.
	That's fair, but I also don't want one person who can show up and say, this is the way the coin's going, or this is the way development's headed.
	I want that to be a process.
	And this is probably where it's getting too techy for me, where they've got the governance stuff and how they decide that stuff.
	And that's one of the points he brings up.
	He's like, Bitcoin's kind of hard to change because there's not a lot of governance traction there, right?
	I want crypto to win no matter what.
	I don't care which point it is or which project.
	I totally believe it'll be a multiplicity of them.
	I just want the dollar to lose.
	Yeah. Math will ensure that.
	All right. Anybody else with a yearning burning before we close off?
	And again, I really, really appreciate everyone's time tonight.
	Very generous. Karate lessons start now.
	Okay. Someone said, like, quit saying your website.
	Like, spell it out because it's hard.
	J-A-R-R-O-D-W-O-O-D-A-R-D dot com forward slash free domain.com.
	You know, it could be worse.
	You could have been named by Elon Musk.
	In which case, good luck having anybody find your website.
	It's all some Swedish characters and some squished spider kanji stuff or whatever.
	All right. Well, thanks, everyone.
	I really appreciate it. Oh, yes, sir.
	Go ahead. Red Pill songs. I'm just going to make a final plea for Bitcoin.
	The original. The best.
	No marketing department required.
	People will adopt it out of a sense of need, like they did for gunpowder, like they did for body armor.
	There's no proof of stake.
	There's just a huge wall of energy, which is a good thing.
	Yeah, I have a last thought, too.
	So, Stephane, in the previous investment roundtables, you've said something that I've been kind of dwelling on a little bit.
	And so, if you look at the price of the crypto market as a whole or the price of Bitcoin, in the past, there's been this cycle.
	There's a bubble cycle where it will fly up and then crash, but then it kind of levels off about two or three times higher than before.
	And then that just keeps happening, like, over two or three years.
	I think one of the things that you said is that we might be going through sort of a phase change where that's not going to keep happening and that we might enter into a bubble that doesn't pop like it just goes all the way up and then I've been just like wondering I've just been thinking about what if that's true like what if like next year like Bitcoin just goes all the way like you know where because I because Right now,
	you could still be a person walking around the street and not know that crypto exists.
	But, like, there's going to come a point where it, like, there's, like, an earthquake level sort of change in society happens.
	And then that could happen, like, within 12 months from now, I believe.
	Like, you talk about 42 million Americans.
	Like, that could so easily go to...
	100 or 200 or 300 like it just saturate like it so I'm just thinking about like what is that going to look like because right now it's still this thing that might be we're all just kind of making it up maybe we're just all imagining it but there will come a day where you're walking down the street and you can tell us this is happening and uh so anyway I was just wondering if you had any thoughts on that Well, I mean, there are the people...
	So there's a really fascinating bit in the movie Titanic, right?
	I watched it a little while ago, so that's why it sort of popped in my head.
	Do you know that the engineer of the Titanic was on board the voyage, right?
	And they've hit an iceberg.
	It's kind of scratchy.
	Everything seems fine. And the ship is totally steady, totally stable, right?
	And you know what the engineer says?
	He says, we're going to sink in two hours.
	There's nothing that can be done to change that.
	Now, for everyone who's not the engineer, it seems perfectly normal.
	There's nothing that's changed. There was a scrape, there was a bang, and, you know, they're told everything's fine.
	And it's sort of like if you're the pilot on the airplane and you can see the fuel gauge, right?
	And there's you, there's some mountains, and then there's a runway, and you suddenly realize you don't have the fuel to get over the mountains.
	Well, to everyone in the Cabin, they're having their coffee, they're pretending to wear their masks, they're, you know, doing all this kind of stuff, right?
	They don't know, they don't, right?
	You have to have that kind of knowledge.
	And right now, the staggering amount of debt that has propped up the fiat currency system during the time of COVID has meant that things have become indistinguishable for people.
	What it's done is it's shortened the amount of fuel that's in the airplane.
	It has accelerated the sinking of the Titanic much faster than ever would have happened before.
	And so those of us who know fiat currency, we know Austrian economics, we know the history of fiat currency, we know how people respond to incentives.
	Right now, I mean, a friend of mine, I was talking to a friend of mine from Florida the other day, and he said he goes to a Dunkin' Donuts and they can't use the drive-thru, they can only go in.
	Do you know why? Because they can't get any workers.
	Everywhere in Florida is pasted.
	Please come and work for us.
	We'll give you 20 bucks just to show up for an interview.
	We're raising our wages.
	This is a truly staggering situation, but of course people are making this, I'm getting 500 bucks for sitting on my ass, why on earth would I go to work for 550 bucks a week?
	I'm getting 500 bucks a month from the government, why on earth would I be paid $1.10 an hour effectively to go to work at a job that's unpleasant, boring and bad bosses, difficult customers, all that kind of stuff.
	And I've got to yell at people who aren't wearing masks.
	Why would I want to do that, right?
	And I've got to wear a mask.
	So not only am I not getting paid, I've got to wear a mask all day and breathe in my own face farts and stuff, right?
	So we all know that this ain't going to last.
	And that the ain't going to last part has gotten radically shorter than even when we first started doing these.
	Because nobody's trying to get everyone back to work.
	They're just firing more and more and more insane, fatuous, brain fart made up bullshit money at everyone.
	And people's behaviors are radically changing.
	Now they're viewing work as an annoying...
	They've become the aristocrats.
	They're viewing work as an annoying thing that happens when the government doesn't give you stuff for free in return for a vote.
	They think that they can have a career called voting.
	And they've turned away from any kind of mathematical or fiscal or economic reality.
	So we know that, and that's why we're on the lifeboats.
	And everyone is looking at us and saying, crazy?
	What are you doing on a lifeboat?
	It's much more comfortable here.
	There's no band, there's no dinner service, there's no dancing, right?
	And we're just basically saying, well, we know that the ship can't stay up.
	We know that. We're the engineers who understand the system.
	We know what it can sustain and what it can't.
	We know that there's not enough fuel for the plane to get over the mountains, so we're on the parachutes.
	Oh my god, it's cold down there and the parachutes are uncomfortable.
	Right here we got coffees, we got movies.
	It's like, yeah, but it's not going to last.
	And so, because we understand that, we can to some degree lead the way.
	The question is, how long do you stay on the plane if people think you're insane for jumping?
	You know the plane can't get over the mountain.
	How long do you stay on the plane? If you stay on the plane too long, you're going down.
	If you stay on the ship too long, because once there's the general panic, the question is when does mass adoption happen?
	Mass adoption happens when the ship goes like this.
	Mass adoption happens when the plane's engine starts sputtering.
	Mass adoption happens when people finally who aren't experts get that gut sense.
	You know, it's like you got cancer, you go to some oncologist, he says, man, I'm sorry, you've only got a year to live, and you're like, I feel fine.
	He's like, yeah, but I'm the expert, right?
	I know what the story is.
	So the mass adoption happens when people's sense of unease really begins to kick in.
	And people's sense of unease is really kicking in.
	The number one book on Amazon at the moment is a guy examining Marxist infiltration of the US military.
	You don't think people's unease is kicking in?
	People are actually finally waking up to the fact that McCarthy was kind of right.
	In fact, he was more right than he knew.
	So you don't want to be anywhere near the ship or, if you're in the plane metaphor, you don't want to be anywhere near the parachutes or the exit door when people finally kick in and go, we're screwed, man.
	And it's a very dangerous place to be.
	I definitely think it could be happening, like, I can imagine it happening real soon.
	Oh, yeah. Listen, you've got gas lineups.
	People haven't had those since the 70s.
	Funny story, you vote Biden in, who's going to ban fracking and kills the Keystone Pipeline, next thing you know.
	100 GB of data was transferred off by the hackers from that oil pipeline that they wanted Bitcoin.
	You'd think they'd notice that.
	I think people are starting to get this vague sense of unease.
	I think it'll happen when people don't think the system will last much past the next election.
	Because what people do is they say, oh, the system is bad, but we'll vote someone else in next election and it'll turn around and it'll get better, right?
	But if people get the sense that somehow it ain't gonna last till the next election, then you get a stampede.
	And that's a pretty risky place.
	That's a pretty risky place to be.
	And Steph was talking about when it does come, when mass adoption does come, it'll be too late to get your Bitcoin.
	So get signed up to an exchange and get started now.
	I worked for Coinbase in 2017, the last big bull run, and people were ripping their hair out trying to get their crypto on and off an exchange, either direction.
	Plan now. Get set up now.
	It's unfortunately a painful headache process to get set up with exchanges.
	Everybody complains about it.
	They're all pretty bad. You've got to show your ID and do all these pictures and jump through hoops and it sucks.
	So many people are jumping on now that a lot of the exchanges just don't have the manpower to process this stuff.
	That is true. That is true.
	Yep. Especially because you can't get anyone to work.
	Sorry, Red Pill, go ahead. I'm sorry.
	So you can, alternatively, I'm not disagreeing with Jared though, but you can also just download BISQ. It's a free open source decentralized exchange.
	You need to get a little bit of Bitcoin to start.
	You can email me, Red Pill, songs at ProtonMail.
	I'll send you the little bit you'll need if you really are that desperate to get going.
	There's also HODLHODL.com.
	Is this really a website?
	HodelHodel.com? HodelHodel.
	I think you can just start straight up buying if you've got certain...
	I bought through that before too.
	Somebody's saying here, this is not an endorsement, but just from the comments, get on Celsius Network as well.
	They will have in-app swaps with no fees later this week.
	Yeah. And so you say, oh, well, it's dangerous.
	It's dangerous. It's not like it's going to be physical stampedes.
	It's just that the price is going to be going up so much that people are going to be absolutely terrified because they're really going to, in a sense, understand.
	You ever have this thing?
	So I remember once I... A friend of mine was telling me, he's like, he's showing up to an exam and he was there really early because, you know, he wanted to get, and like, nobody was, nobody's showing up.
	And of course, the closer you get to the exam and no one's showing up, he's like, oh no, I got the wrong date.
	You know, like he missed the exam, right?
	And you ever have this thing where People are just moving in a general direction, and you're not sure why, and you're just like, I think I better follow them.
	You know, you're at some county fair, and everyone starts running to the exits.
	You're like, shooter? I don't know, what?
	Tiger loose? Like, what the hell's going on, right?
	And when that starts to happen, the exchanges might get overwhelmed.
	Right? And certainly you don't want to start the process at that point because they just won't have enough employees to process it.
	And the price, once the price starts to really skyrocket, and I think it's going to go, you know, exponential, but once the price really starts to skyrocket, that's when, right, that's when people get, there ain't enough fuel and the ship ain't going to last.
	And that's when you get a real panic.
	And then people are not going to have enough money and the price of Bitcoin is going to go up so much and what they're going to see is a rocket ship leaving without them.
	And people get pretty panicked at that point because the price of Bitcoin rising will signal an end to the existing system.
	People really freak out about that.
	And, you know, if you've got Bitcoin, you might want to get some security, too.
	Yeah, and we're heading into, like, the unknown.
	Like, we're about...
	The population on this planet is about to go into a new sort of social dynamic that it's never experienced before.
	People are asking in the chat, 100k by summer still.
	Yeah, I'm still very optimistic about the price.
	Now, for me, the 100k was Canadian, but yeah, I still have no issues with the dip.
	You know what, as the rocket goes up, you know what it does?
	It sheds stages, man.
	And the dips are just the shedding of the stages so you can break orbit.
	Red Pill, somebody's asking for your email.
	Redpillsongs at ProtonMail.com.
	I will expect you to pay me for this, but I'll get you some...
	You can get him some real glasses.
	All right. Okay, I got to close.
	I got another call, believe it or not, after this.
	So, big, big day at Free Domain.
	I would recommend to people go to freedomain.locals.com.
	I actually had a conversation, a two-hour conversation, with a total troll who absolutely hated and loathed my guts.
	He called me every conceivable bad name in the...
	In the book. And summer...
	No, I don't think it's going to go to 100k in a month.
	People say summer is only a month away.
	No, it's the end of summer for me. But, yeah, it was a really, really great conversation.
	And dealing with, like, helping someone.
	And the guy was going to become homeless and his terrible life.
	And helping someone who's done you some real harm.
	I would like to thank my Christian friends for teaching me the way.
	Because forgive your enemies, love your enemies.
	It's still a bit of a challenge to me as a...
	Proto-Bald-Simeon maximizer of evolutionary potential, but I would like to thank my Christian friends for teaching me about this.
	I took it for a spin, and I've got to tell you, I feel one step closer to glory.
	So you can go to freedomain.locals.com and check it out there.
	It's free. I think you need to register.
	And if you want to support, that's great.
	freedomain.com forward slash donate.
	But thanks everyone again.
	Such a fantastic group to have conversations with.
	I'm truly honored to have you in my life and truly honored to have you with the audience in my life as well.
	So have yourselves a wonderful evening and lots of love from up here.
	We'll talk to you soon. Bye.
	Cheers, everybody. Thanks so much. Thanks, guys.

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