WEBVTT 00:00:00.000 --> 00:00:09.000 Hey friend, listen. I know the world is scary right now. Corruption, war, inflation, demographics, 00:00:09.000 --> 00:00:15.840 degeneracy, disease, unrest, hatred, and despair. We didn't come here to tell you how it is, 00:00:15.840 --> 00:00:17.600 but that it's going to get way better. 00:00:17.600 --> 00:00:25.600 We got a good day coming, and it's all I need. Everything that I wanted, just wait and see. 00:00:25.600 --> 00:00:26.600 Better by Bitcoin. 00:00:32.599 --> 00:00:33.599 So good, man. 00:00:33.599 --> 00:00:34.599 So good. 00:00:34.599 --> 00:00:35.599 So good. 00:00:35.599 --> 00:00:36.599 Well done, y'all. 00:00:36.599 --> 00:00:38.599 Great work, Bondor. 00:00:38.599 --> 00:00:45.599 This is Better by Bitcoin. I'm Anton Syme, here with JD and Bondor. We have a new intro. 00:00:45.599 --> 00:00:47.599 So dope. Thank you guys for making that. 00:00:47.599 --> 00:00:54.599 And today, we're going to be talking about why Bitcoin is the only real cryptocurrency. 00:00:54.599 --> 00:00:58.599 It's the king of all the cryptocurrencies. 00:00:58.599 --> 00:01:07.599 And we're just going to discuss why every altcoin, what we refer to also as shitcoins. 00:01:07.599 --> 00:01:13.599 I'm somebody, I don't really love cussing, talking in an uncouth manner. 00:01:13.599 --> 00:01:20.599 But I'm so disgusted by altcoins that I will call them shitcoins all day long because that's what they are. 00:01:20.599 --> 00:01:27.599 And we're here also to celebrate Ethereum basically going to zero. 00:01:27.599 --> 00:01:29.599 It's not, I mean, right now it has value. 00:01:29.599 --> 00:01:34.599 I believe it is on its way down to essentially zero. 00:01:34.599 --> 00:01:36.599 And that's what we're going to discuss today. 00:01:36.599 --> 00:01:40.599 So what do you guys think about this topic? 00:01:40.599 --> 00:01:42.599 Bondor, let me go first. 00:01:42.599 --> 00:01:44.599 I know you're about to defer to me, too. 00:01:44.599 --> 00:01:48.599 I'll tee it up to you with a question, though, because you have more of a technical angle on this. 00:01:48.599 --> 00:01:50.599 And also, you have a Wall Street background. 00:01:50.599 --> 00:01:55.599 So can you kind of break down the Wall Street angle on this? 00:01:55.599 --> 00:02:00.599 And if you were to look at Bitcoin and Ethereum as stocks or commodities or whatever it is, 00:02:00.599 --> 00:02:03.599 how would you kind of try to describe this like a trad5 person? 00:02:03.599 --> 00:02:05.599 And why is Ethereum going to zero? 00:02:05.599 --> 00:02:18.600 I mean, from an insider's Wall Street view, I think the theory would be that it's not going to zero. 00:02:18.600 --> 00:02:20.600 Because we can control it. 00:02:20.600 --> 00:02:21.600 It's central. 00:02:21.600 --> 00:02:22.600 We can issue. 00:02:22.600 --> 00:02:24.600 Why wouldn't we? 00:02:24.600 --> 00:02:31.600 Why wouldn't Vitalik go and visit Putin and get cozy with that? 00:02:31.600 --> 00:02:36.600 The whole thing makes so much sense from a legacy perspective. 00:02:36.600 --> 00:02:43.600 But also, it's a cryptocurrency that you can just print more of. 00:02:43.600 --> 00:02:53.600 And we don't actually have to create more value here or patch security problems or basically do anything. 00:02:53.600 --> 00:02:54.600 It's just, oh, whatever. 00:02:54.600 --> 00:02:59.600 We can just paper over our problems with more Ethereum that we can just print out of. 00:02:59.600 --> 00:03:06.600 It's just it makes tons of sense for the insiders to just love it. 00:03:06.600 --> 00:03:18.600 The problem is that none of the insiders understand the fundamental nature of a cryptocurrency and what the actual value is and why it's why it has any purpose at all. 00:03:19.600 --> 00:03:26.600 And why Bitcoin is the only cryptocurrency that actually has the fulfillment of any of that purpose. 00:03:26.600 --> 00:03:31.600 So, man, the Wall Street guys, they got to love Ethereum. 00:03:31.600 --> 00:03:36.600 That's why we got to put it on all the exchanges and the ETFs and whatever. 00:03:36.600 --> 00:03:39.600 And like, of course, you guys are going to get wrecked. 00:03:39.600 --> 00:03:44.600 Like, thank God, because you misunderstand the whole purpose of it. 00:03:44.600 --> 00:03:49.600 And the whole purpose of cryptocurrency at large, which is another thing. 00:03:49.600 --> 00:03:54.600 As long as we're riffing, the idea of cryptocurrency, there is no cryptocurrency. 00:03:54.600 --> 00:03:55.600 It's just Bitcoin. 00:03:55.600 --> 00:04:00.600 There is no category like they invented a new category called cryptocurrency. 00:04:00.600 --> 00:04:04.600 And then they place Bitcoin in that category along with everything else. 00:04:04.600 --> 00:04:07.600 But really, everything else is just a total scam. 00:04:07.600 --> 00:04:08.600 And so there is no category. 00:04:08.600 --> 00:04:11.600 It's like Bitcoin is cryptocurrency. 00:04:11.600 --> 00:04:12.600 Cryptocurrency is Bitcoin. 00:04:12.600 --> 00:04:21.600 And when you try and expand the category, you're just inviting scam in, inviting fraud, inviting all this other stuff that's just terrible. 00:04:21.600 --> 00:04:23.600 And here we are. 00:04:23.600 --> 00:04:25.600 Thank God it's finally coming out. 00:04:25.600 --> 00:04:27.600 Like, finally, we're seeing. 00:04:27.600 --> 00:04:30.600 Like, I remember back when I was trading. 00:04:30.600 --> 00:04:33.600 This is years ago. 00:04:33.600 --> 00:04:40.600 I remember trading ETH, the ETH BTC pair and going short on ETH and, like, getting wrecked because it kept going higher. 00:04:40.600 --> 00:04:48.600 And I was like, you got like there's no possible way that this has any value, like zero. 00:04:48.600 --> 00:04:55.600 You know, I was mistaken because I was playing the long game on the trade with a short exposure. 00:04:55.600 --> 00:04:58.600 And that's not, you know, mismatch on time frame. 00:04:58.600 --> 00:05:00.600 So, of course, I got wrecked. 00:05:00.600 --> 00:05:04.600 But, man, it's just so great to see it collapse. 00:05:04.600 --> 00:05:06.600 Finally. 00:05:06.600 --> 00:05:08.600 It's so good. 00:05:08.600 --> 00:05:21.600 And can you kind of unpack one of the points that I think you might know a little bit on that that bond or brought up of like, why is it even possible to say that Bitcoin is the only cryptocurrency? 00:05:21.600 --> 00:05:23.600 Like what what does that even mean? 00:05:23.600 --> 00:05:30.600 This category of one, because I feel there's a lot of folks who might not fully grasp this. 00:05:30.600 --> 00:05:35.600 The probably the main thing to know that. 00:05:35.600 --> 00:05:46.600 If unless you've spent a lot of time thinking about Bitcoin, you may not know is that it took a very, very long time to develop Bitcoin. 00:05:46.600 --> 00:05:50.600 I'm talking 30 years or something like that. 00:05:50.600 --> 00:05:54.600 People, I think, who don't know a lot about Bitcoin. 00:05:54.600 --> 00:05:58.600 I mean, obviously, they sort of know what Bitcoin is, but they haven't spent a ton of time thinking about it. 00:05:58.600 --> 00:06:03.600 They think, you know, the white paper was released somewhere around 2008. 00:06:03.600 --> 00:06:13.600 Somebody was probably thinking about it, maybe like around 2005, coded it up, tried out a few things, put it on this list of a bunch of nerds who emailed back and forth with each other. 00:06:13.600 --> 00:06:15.600 And then it just kind of launched. 00:06:15.600 --> 00:06:17.600 It just kind of snowballed and became what it became. 00:06:17.600 --> 00:06:19.600 It just was this random occurrence. 00:06:19.600 --> 00:06:22.600 That's not at all what happened. 00:06:22.600 --> 00:06:25.600 You had essentially computer programmers. 00:06:25.600 --> 00:06:29.600 And I'm not even going back as far as cryptography goes. 00:06:29.600 --> 00:06:35.600 Like, you could go all the way back to what's the guy that cracked the Enigma machine? 00:06:35.600 --> 00:06:38.600 Turning. Was that Alan Turing? 00:06:38.600 --> 00:06:39.600 Yeah. 00:06:39.600 --> 00:06:49.600 So during that time period, people were already doing experiments in cryptography and in using computers and things like that. 00:06:50.600 --> 00:06:59.600 In the 70s, 80s, people already were making the framework for what would become cryptocurrency. 00:06:59.600 --> 00:07:13.600 And the 70s, the Diffel-Hyman, I don't know how to pronounce the last name, but the public-private key exchange was like, that's a fundamental principle, a building block principle of Bitcoin. 00:07:13.600 --> 00:07:15.600 And that was the 70s. 00:07:16.600 --> 00:07:27.600 If there was any discussion of a online money prior to that, it was never going to work until that invention happened. 00:07:27.600 --> 00:07:30.600 And then there's other inventions along the lines. 00:07:30.600 --> 00:07:31.600 Sorry to interrupt. 00:07:31.600 --> 00:07:32.600 No, no. 00:07:32.600 --> 00:07:37.600 Thank you for interrupting, because you guys probably know more about the technical details of this than I do. 00:07:37.600 --> 00:07:39.600 You can go back even before that. 00:07:39.600 --> 00:07:45.600 There have been tons and tons of non-governmental currencies that have been tried. 00:07:45.600 --> 00:07:49.600 I mean, you could talk about like putt-putt golf. 00:07:49.600 --> 00:07:53.600 You go and buy tokens and you pay for video games with the tokens. 00:07:53.600 --> 00:07:57.600 There have been tokenized monies throughout history. 00:07:57.600 --> 00:08:01.600 All of them failed to actually be used as money. 00:08:01.600 --> 00:08:03.600 And then you have… 00:08:03.600 --> 00:08:05.600 Is that just me? 00:08:05.600 --> 00:08:07.600 You lost my audio. 00:08:07.600 --> 00:08:08.600 I got him. 00:08:08.600 --> 00:08:09.600 That's just me. 00:08:09.600 --> 00:08:10.600 Okay. 00:08:10.600 --> 00:08:17.600 So, you even had cryptocurrencies that were made that Satoshi references in the white paper. 00:08:17.600 --> 00:08:20.600 You have like Adam Back's Hash Cash. 00:08:20.600 --> 00:08:22.600 You had Wadeye's B-Money. 00:08:22.600 --> 00:08:27.600 Nick Szabo had done a framework for BitGold, although that was like 1998. 00:08:27.600 --> 00:08:30.600 And I don't think it ever was coded up. 00:08:30.600 --> 00:08:34.599 So, and then you also had… 00:08:34.599 --> 00:08:35.599 Do you know the other ones? 00:08:35.599 --> 00:08:36.599 There was like E-Gold. 00:08:37.599 --> 00:08:38.599 There was E-Cash, yeah. 00:08:38.599 --> 00:08:40.599 E-Cash, but there was also… 00:08:40.599 --> 00:08:41.599 Common Cash, yeah. 00:08:41.599 --> 00:08:44.599 But there was a gold one that actually got shut down. 00:08:44.599 --> 00:08:49.599 And the person who created it actually got prosecuted for it. 00:08:49.599 --> 00:08:55.599 So, there's even a history of the founders of these things basically doing jail time for creating them. 00:08:55.599 --> 00:09:03.599 So, that would be why Satoshi used a pseudonymous name and didn't reveal his identity very smartly. 00:09:04.599 --> 00:09:11.599 So, Satoshi solved one thing, which was the Byzantine generals problem. 00:09:11.599 --> 00:09:12.599 I don't know. 00:09:12.599 --> 00:09:13.599 Bondor, do you want to… 00:09:13.599 --> 00:09:15.599 You don't have to, but do you want to say what that is? 00:09:15.599 --> 00:09:16.599 Yeah. 00:09:16.599 --> 00:09:23.599 So, the Byzantine generals problem is basically if you are a bunch of generals, like let's say you have five different generals, 00:09:23.599 --> 00:09:29.599 and you're all attacking the same fort, like in Byzantine, 100 or 1,000 years ago, right? 00:09:29.599 --> 00:09:32.599 Or however, 1,500 years ago. 00:09:32.599 --> 00:09:38.599 If you're all attacking the same fort, you're five generals, the objective is that you… 00:09:38.599 --> 00:09:46.599 Or the problem states, in so many words, you only are guaranteed success if you all attack at the same time. 00:09:46.599 --> 00:09:53.599 But if one person defects, well, then everybody else is going to lose except for the one person. 00:09:53.599 --> 00:09:56.599 It's kind of a game theory kind of problem, right? 00:09:56.599 --> 00:10:04.599 And so, what you need to do is you need to ensure that all of the generals are communicating correctly, 00:10:04.599 --> 00:10:07.599 and they all have the right information, they all know the right attack time. 00:10:07.599 --> 00:10:12.599 Like if they attack at different times, well, they're going to fail because it's not a uniform attack, etc. 00:10:13.599 --> 00:10:17.599 And yeah, Satoshi solved this problem. 00:10:17.599 --> 00:10:22.599 And he solved this problem via the proof-of-work mechanism, the invention of proof-of-work. 00:10:22.599 --> 00:10:32.599 And what that, you know, the long and short of that is that, hey, because we're relying on energy inputs that we can verify via cryptographic hashing, 00:10:32.599 --> 00:10:42.599 therefore, we can know with certainty that this chain is the longest, and that means it has the most energy input, 00:10:42.599 --> 00:10:48.599 that means it was the hardest one to get, that means it's the most reliable, and therefore, we can have consensus. 00:10:48.599 --> 00:10:56.599 All the Byzantine generals, they all can agree on this outcome is the correct outcome, or this state is the correct state, 00:10:56.599 --> 00:11:00.599 and therefore, we can move forward with the plan of pursuing the next state, right? 00:11:00.599 --> 00:11:03.599 So that's kind of the long and short of it. 00:11:03.599 --> 00:11:06.599 JJ, did you have anything to add? I was going to keep going. 00:11:06.599 --> 00:11:12.599 Yeah, I have. I was trying to find—I've got the full text somewhere, and that's what I'm looking off. 00:11:12.599 --> 00:11:21.599 But there is a great—the thing that people always miss about Bitcoin is it's a series of a bunch of inventions from a lot of people, 00:11:21.599 --> 00:11:27.599 and the first discovery slash ideation of this was actually Henry Ford, and I talked about this in a previous one. 00:11:27.599 --> 00:11:35.599 But December 4th, 1921, in his article in the New York Times, which was at the time called the New York Tribune, 00:11:35.599 --> 00:11:41.599 but the article was titled, Ford Would Replace Gold with Energy Currency and Stop Wars, 00:11:41.599 --> 00:11:49.599 and it was this whole idea of tying value, which if you really boil money down, that's all it is. 00:11:49.599 --> 00:11:53.599 It's a store of value. That's why everybody says in the Bitcoin community, if you see this, 00:11:53.599 --> 00:12:00.599 this is S, capital S, lowercase o-v, store of value, and then M-O-E, medium of exchange. 00:12:00.599 --> 00:12:04.599 Bitcoin is first going to be a store of value. Money, all it is, is a store of your value. 00:12:04.599 --> 00:12:08.599 Why do you invest in the stock market? For value. Number, go up, N-G-U. 00:12:08.599 --> 00:12:15.599 Because you want to be able to do more later because your value is being eroded by this thing called inflation, right? 00:12:15.599 --> 00:12:25.599 So all that to say, this problem and this moment we live in right now with Bitcoin being the kingmaker of crypto, 00:12:25.599 --> 00:12:32.599 because it's the only real legitimate blockchain, thank you, camera, it's the only real legitimate blockchain, 00:12:32.599 --> 00:12:41.599 was part of this series of events that was actually kicked off by Henry Ford in December of 1921, 00:12:41.599 --> 00:12:50.599 when he posited this idea of a peaceful planet with currency tied to energy. 00:12:50.599 --> 00:12:57.599 And so it's really, really interesting to kind of go about Henry Ford's original discovery slash idea, 00:12:57.599 --> 00:13:04.599 which was an energy currency finally coming to fruition 100 years, it's actually less than that. 00:13:04.599 --> 00:13:12.599 It was like 85 years later, 80 years later, because it was 2009 when it, right, 2009 when it came to fruition. 00:13:12.599 --> 00:13:19.599 So, you know, 80, yeah, 88 years later, 80 years later, maybe Satoshi had the idea, 00:13:19.599 --> 00:13:25.599 or the group of Satoshi had the idea in 2001, like after 9-11, who knows. 00:13:25.599 --> 00:13:29.599 But let's assume it was 80 years later, finally coming to fruition through Bitcoin. 00:13:29.599 --> 00:13:30.599 And so it's really, really interesting. 00:13:30.599 --> 00:13:40.599 It's just like, you know, these dominoes of just different, you know, kingmakers in their own right of these different, 00:13:40.599 --> 00:13:45.599 you know, whether you'd be a manufacturing giant like Ford, or a technical titan, 00:13:45.599 --> 00:13:48.599 like Adam Back and some of these other guys who just had like a lot of, you know, technical know-how, 00:13:48.599 --> 00:13:51.599 and then also just, you know, people who know how to do electrical. 00:13:51.599 --> 00:14:01.599 So I'm ranting, but it's very, very interesting to see how when people don't understand all that went into the discovery 00:14:01.599 --> 00:14:06.599 and the invention and the creation of Bitcoin, it's very easy to get duped by the scam coins. 00:14:06.599 --> 00:14:10.599 And so you really need to understand what cryptocurrency means. 00:14:10.599 --> 00:14:18.599 Is crypto, cryptography, currency, money, there is only one of those, period, and it's Bitcoin. 00:14:19.599 --> 00:14:24.599 One of the things that boggles my mind, and I just kind of stumbled down this rabbit hole recently, 00:14:24.599 --> 00:14:26.599 which is the idea of proof of stake. 00:14:26.599 --> 00:14:36.599 So Ethereum transitioned to proof of stake as a, we're going to be environmentally conscious about not wasting energy and everything. 00:14:36.599 --> 00:14:41.599 Now, and I didn't know this until recently, but when you think about it, it makes a lot of sense. 00:14:41.599 --> 00:14:46.599 So Satoshi's consensus mechanism, proof of work, Nakamoto consensus, 00:14:46.599 --> 00:14:53.599 which I just described in the Byzantine generals bit on how everybody can agree. 00:14:54.599 --> 00:15:03.599 That is a, that is a incredible invention or really a discovery because it's bridging the economic, 00:15:04.599 --> 00:15:12.599 like hard consumption of energy, a physical, something that exists in physical reality. 00:15:12.599 --> 00:15:19.599 And it's bridging it with cryptographic certainty, something that exists entirely in the realm of information. 00:15:19.599 --> 00:15:29.599 There is no other bridge like that, where you can't have the information unless the energy input is enough to produce that information. 00:15:30.599 --> 00:15:33.599 Like this is a, this is a revolutionary discovery. 00:15:33.599 --> 00:15:34.599 Okay. 00:15:34.599 --> 00:15:40.599 Now, early on in the, in one of the Bitcoin talk forums, I don't know the guy's name anymore, 00:15:40.599 --> 00:15:44.599 but he basically postulated, well, it's just so much energy wasted. 00:15:44.599 --> 00:15:55.599 Why don't, instead of relying on the energy, why don't we rely on the amount of currency you have, which is proof of stake? 00:15:55.599 --> 00:15:56.599 Okay, cool. 00:15:56.599 --> 00:16:04.599 The next issued currency is going to be distributed to whoever owns the amount of currency that, that they're like supposed to own. 00:16:04.599 --> 00:16:05.599 Right. 00:16:05.599 --> 00:16:06.599 Okay. 00:16:06.599 --> 00:16:11.599 Well, you have 10 and you have 90, so you get 0.1 and you get 0.9. 00:16:11.599 --> 00:16:14.599 It's kind of the proof of stake model. 00:16:14.599 --> 00:16:19.599 Now, proof of stake is not a consensus mechanism. 00:16:20.599 --> 00:16:21.599 So, wait a second. 00:16:21.599 --> 00:16:25.599 So, oh, we're going to use proof of stake to determine who gets which currency. 00:16:25.599 --> 00:16:32.599 In Bitcoin, it's, hey, whoever wins the block, they get the block reward and they get the fees from that block. 00:16:32.599 --> 00:16:34.599 But with proof of stake, it's just a totally different thing. 00:16:34.599 --> 00:16:35.599 It's like, wait a second. 00:16:35.599 --> 00:16:40.599 This is now, it doesn't have, well, it just solves who gets what. 00:16:40.599 --> 00:16:45.599 It doesn't solve the consensus thing, which is solved via the proof of work mechanism. 00:16:45.599 --> 00:16:51.599 So, then they have to go and either reuse other consensus mechanisms on top of the other one, 00:16:51.599 --> 00:16:59.599 or they have to invent new consensus mechanisms, which Anton, your all-time favorite, which is the Hedera hashcash. 00:16:59.599 --> 00:17:03.599 They invented a new, just roll your eyes. 00:17:03.599 --> 00:17:05.599 Me too. 00:17:05.599 --> 00:17:08.599 They invented a totally new consensus mechanism. 00:17:08.599 --> 00:17:09.599 Elegant mathematics. 00:17:09.599 --> 00:17:10.599 Okay, whatever. 00:17:10.599 --> 00:17:17.599 But the thing is, all of this is a technical regression. 00:17:17.599 --> 00:17:21.599 It is a, it is, oh, we invented a car. 00:17:21.599 --> 00:17:23.599 For the first time, we invented a car. 00:17:23.599 --> 00:17:31.599 And instead of using the engine in the car, we're going to pull it with horses. 00:17:31.599 --> 00:17:33.599 That's what we're going to do. 00:17:33.599 --> 00:17:35.599 That's what every shitcoin is. 00:17:35.599 --> 00:17:39.599 It's literally a car being pulled by horses. 00:17:39.599 --> 00:17:42.599 It's the stupidest fucking thing out there. 00:17:42.599 --> 00:17:44.599 Pardon my French. 00:17:44.599 --> 00:17:49.599 To be fair, it worked really well in Back to the Future 3. 00:17:49.599 --> 00:17:51.599 I'm just saying. 00:17:51.599 --> 00:17:53.599 Marty McFly got home. 00:17:53.599 --> 00:17:57.599 Yes, they used the train, but it worked. 00:17:57.599 --> 00:18:02.599 So, I mean, why can't I put a monkey JPEG on the front in graffiti and sell it to you for a million bucks? 00:18:02.599 --> 00:18:04.599 Bieber might buy it. 00:18:04.599 --> 00:18:16.599 Yeah, I mean, at some point, like, the only real, like, upside to a lot of that is, is like, well, we have to have, we're building civilization. 00:18:16.599 --> 00:18:22.599 It has to be backwards compatible, which is to say, we just expect that all of our cars are going to fail. 00:18:22.599 --> 00:18:27.599 And so we need to have they need to have hitches on every car so that we can attach a horse to them. 00:18:28.599 --> 00:18:34.599 If the car fails, it's like, yeah, that's just not a that's just not human progress. 00:18:34.599 --> 00:18:38.599 At some point, it's just you're just wasting everyone's time and effort. 00:18:38.599 --> 00:18:41.599 You know, cars can go 60 miles an hour. 00:18:41.599 --> 00:18:50.599 The car analogy is really good because for 100 years, cars have been basically the same thing. 00:18:50.599 --> 00:18:54.599 They've just gotten they've iterated better and better and better and better. 00:18:54.599 --> 00:19:00.599 But once the car was discovered, everybody realized that they had this new technology. 00:19:00.599 --> 00:19:03.599 They could build an infrastructure, the roads around the car. 00:19:03.599 --> 00:19:05.599 They could make different sizes of cars. 00:19:05.599 --> 00:19:09.599 They could slowly get the engines better, slowly get the suspensions better. 00:19:09.599 --> 00:19:14.599 They could get it to where now cars are automated, can drive themselves. 00:19:14.599 --> 00:19:17.599 Electric cars can go super fast, but it's still a car. 00:19:17.599 --> 00:19:26.599 It's like, yeah, you can put a jet engine on the back of the car, but then the jet engine is you can use it one time. 00:19:26.599 --> 00:19:30.599 It just blasts. It might explode. It can't turn. 00:19:30.599 --> 00:19:33.599 You know, you could put propellers on it, turn it into an airplane. 00:19:33.599 --> 00:19:35.599 It might fall out of the sky. One of them might break off. 00:19:35.599 --> 00:19:38.599 It's super loud. It might cut somebody's head off. 00:19:39.599 --> 00:19:47.599 It just, you know, eventually maybe we'll get to a point where there's another type of car that adds like levitation or something. 00:19:47.599 --> 00:19:49.599 But eventually you have to get there. 00:19:49.599 --> 00:19:57.599 With these cryptocurrencies, they took Bitcoin, this incredible new creation discovery, 00:19:57.599 --> 00:20:06.599 and then they just copied it and just added like made the Homer Simpson mobile out of this thing and just made garbage. 00:20:07.599 --> 00:20:11.599 And there's this there's this debate. 00:20:11.599 --> 00:20:18.599 And maybe you guys can weigh on this if whether Bitcoin was discovered or whether it was created. 00:20:18.599 --> 00:20:25.599 And it was created because it is all of these technologies layered on each other and layered on each other, layered on each other. 00:20:25.599 --> 00:20:33.599 And, yeah, Satoshi did discover a solution to the Byzantine generals problem and code it himself, 00:20:33.599 --> 00:20:42.599 working off of the iterations of these other cryptocurrencies that eventually became the cryptocurrency. 00:20:42.599 --> 00:20:48.599 And now that we have discovered the cryptocurrency, which is essentially like discovering the automobile, 00:20:48.599 --> 00:20:53.599 now we can build the infrastructure around it and very, very slowly iterate it. 00:20:53.599 --> 00:20:59.599 But it never becomes something else. It still is the discovery of the cryptocurrency. 00:20:59.599 --> 00:21:07.599 Yeah, it's interesting that analogy of like the like car and taking it in there, like the bastardization of it, 00:21:07.599 --> 00:21:09.599 because that's literally what Dogecoin is like. 00:21:09.599 --> 00:21:17.599 Dogecoin literally was somebody copied the Bitcoin blockchain, changed the supply. 00:21:17.599 --> 00:21:20.599 So they took the supply cap off and that's literally Doge. 00:21:20.599 --> 00:21:26.599 And so the the irony of this whole thing is it's. 00:21:26.599 --> 00:21:32.599 You know, it's kind of like all those videos you see of these Indian guys who are really, really crafty. 00:21:32.599 --> 00:21:35.599 But it's like, hey, we wanted to buy a Ferrari, but we couldn't afford a Ferrari. 00:21:35.599 --> 00:21:43.599 So we took our, you know, yacht, whatever our geo prism or, you know, what the Tata. 00:21:43.599 --> 00:21:47.599 We took our Tata and we just basically did a carbon fiber mold. 00:21:47.599 --> 00:21:50.599 And we made a carbon fiber mold that we threw on top of a Tata. 00:21:50.599 --> 00:21:55.599 And it's like, it looks great, you know, but under the hood, it's it's still a Tata. 00:21:55.599 --> 00:21:59.599 Like it literally cost you four hundred dollars and it blows over when the wind blows. 00:21:59.599 --> 00:22:05.599 So it's the whole cargo cult, like cargo cult thing, which I can never say. 00:22:05.599 --> 00:22:16.599 But. People in like sub-Saharan Africa during some war saw airplanes flying overhead and helicopters dropping supplies and all this stuff. 00:22:16.599 --> 00:22:24.599 Like so the colloquial story goes and. They had no idea how helicopters worked. 00:22:24.599 --> 00:22:30.599 They were just like, yo, the way we're going to get the supplies is if we build a helicopter. 00:22:30.599 --> 00:22:34.599 And so they like build the cargo. We want the cargo. 00:22:34.599 --> 00:22:36.599 This is so it's like a cult for the cargo. 00:22:36.599 --> 00:22:45.599 And what the cult does is they build a helicopter out of like sticks and twigs and cardboard and whatever other things they can scrounge together. 00:22:45.599 --> 00:22:50.599 And of course, it doesn't have a motor. It doesn't obey the laws of physics. 00:22:50.599 --> 00:22:54.599 It doesn't have any like just it just kind of vaguely looks like a helicopter. 00:22:54.599 --> 00:22:58.599 And they're like, well, we got it. Like we got the helicopter. 00:22:58.599 --> 00:23:04.599 So where's our cargo? And it's like. That's shit coins. 00:23:04.599 --> 00:23:11.599 That is what they're doing. Like they they've failed to understand so much of the underlying technology, 00:23:11.599 --> 00:23:19.599 the underlying history, the underlying like all the principles and all the economics and all the game theory and all like the deep mathematics of all of it. 00:23:19.599 --> 00:23:28.599 They've just basically clobbered together these insane solutions to problems that don't exist for the purpose of essentially just scamming people. 00:23:28.599 --> 00:23:33.599 There's a great fluffy, fluffy pony quote, which is. 00:23:34.599 --> 00:23:43.599 I'm going to butcher it, but it's. There are so many scammers out there who don't yet know they are scammers. 00:23:43.599 --> 00:23:49.599 And that, for me, is just all of shit coins. They just don't know they're scammers yet. 00:23:49.599 --> 00:23:55.599 The irony is that he's running a shit coin, but or he was I think he I think he stepped away from the step away from it. 00:23:55.599 --> 00:23:58.599 Yeah. Yeah. Yeah. It's interesting. 00:23:58.599 --> 00:24:06.599 The you know, the amount of it's the whole like ignorance versus malice type of thing. 00:24:06.599 --> 00:24:13.599 You know, I try as much as I can to ascribe ignorance or, you know. 00:24:13.599 --> 00:24:23.599 Assume it's it's ignorance on a lot of these scammer parts, but the more I hear a lot of them talk, I definitely think it's malice. 00:24:23.599 --> 00:24:28.599 And I think it's really, really interesting. Like Roger Ver is an interesting example. 00:24:28.599 --> 00:24:31.599 And again, this is hearsay, but I've heard it from people who are there. 00:24:31.599 --> 00:24:36.599 But it's just the, you know, pushing Bitcoin cash, BCH. 00:24:36.599 --> 00:24:39.599 By the way, if it says Bitcoin in it, that doesn't mean it's Bitcoin. 00:24:39.599 --> 00:24:42.599 There's Bitcoin cash. That's not Bitcoin. 00:24:42.599 --> 00:24:45.599 You know, there's all these other like litecoin, which says it's like a Bitcoin thing. 00:24:45.599 --> 00:24:49.599 These are not like Bitcoin is BTC and that's it. 00:24:49.599 --> 00:24:54.599 If it has any other extra letters or not enough letters, that's not Bitcoin. 00:24:54.599 --> 00:24:58.599 So if you're ever buying anything and you're looking at Bitcoin, this is not financial advice. 00:24:58.599 --> 00:25:06.599 Do your own research. But there is only one Bitcoin and it's BTC as at the current moment in time as of this recording. 00:25:06.599 --> 00:25:12.599 So just make sure you're not buying like Bitcoin cash or any of those other things, because those are actually not Bitcoin there. 00:25:12.599 --> 00:25:18.599 They were things that were created by other people who were intending and hell bent on getting your Bitcoin. 00:25:18.599 --> 00:25:24.599 So they created something that they could dump on top of you and trick you into buying not Bitcoin. 00:25:24.599 --> 00:25:30.599 Hashtag Ethereum for you to then just give them your Bitcoin. 00:25:30.599 --> 00:25:35.599 Because if you knew if, you know, it's the whole thing of like the scoundrel or the Ponzi, right? 00:25:35.599 --> 00:25:40.599 You know, people say Bitcoin's a Ponzi. It's like, well, if you really want to look at a Ponzi, let's look at New York real estate. 00:25:41.599 --> 00:25:45.599 Or let's look at the U.S. dollar. Let's look at any currency ever. 00:25:45.599 --> 00:25:51.599 The whole definition of a Ponzi is a lot of people believe in something, but the truth is not the truth. 00:25:51.599 --> 00:25:55.599 That's the whole point of a Ponzi. Like the Ponzi is somebody knows they're lying. 00:25:55.599 --> 00:26:03.599 That's a Ponzi. And the difference with Bitcoin is it's the first time ever where everyone knows it's true. 00:26:04.599 --> 00:26:09.599 Or where everyone knows that, wait, I know if he's lying because I can just look. 00:26:09.599 --> 00:26:15.599 I can just read the code and like look at the transactions and like I can know. 00:26:15.599 --> 00:26:18.599 Yeah, that's the that's the that's the pieces you can know. 00:26:18.599 --> 00:26:22.599 So it's it's it's everyone knows the truth. And that's the difference. 00:26:22.599 --> 00:26:29.599 Everyone who is Bitcoin or every Bitcoin is in on it from a perspective of like, hey, I can check Bondo's work. 00:26:29.599 --> 00:26:34.599 I can check Anton's work. I can check, you know, Fidelity's work or anybody else's work, 00:26:34.599 --> 00:26:40.599 because at the end of the day, if they're trying to send me Bitcoin or I'm trying to send them Bitcoin, it can be verified. 00:26:40.599 --> 00:26:42.599 Whereas previously, I'm going to send it into the black box. 00:26:42.599 --> 00:26:46.599 That is JPMorgan Chase. And then JPMorgan Chase is going to send it into the black box. 00:26:46.599 --> 00:26:52.599 That is Swift. And then Swift is going to do some funny stuff and maybe go through the IMF and some like six other people. 00:26:52.599 --> 00:26:55.599 At the end of the day, my one hundred dollars is now five dollars. 00:26:56.599 --> 00:26:59.599 But everybody's happy except for the people on the other end of that exchange. 00:26:59.599 --> 00:27:02.599 Except for my mom, who I tried to send the money to. 00:27:02.599 --> 00:27:04.599 Yeah. Yeah. 00:27:04.599 --> 00:27:12.599 One easy way to avoid a lot of pain is to not deal with any company that lists altcoins. 00:27:12.599 --> 00:27:20.599 And sadly, there are some companies that were once good that are no longer. 00:27:21.599 --> 00:27:25.599 I love Jameson Lopp. I've gotten so much good information from him. 00:27:25.599 --> 00:27:32.599 As soon as Casa started helping people custody Ethereum, I was like, I don't know. 00:27:32.599 --> 00:27:37.599 I love Andreas Antonopoulos. As soon as he wrote a book on Ethereum, I was kind of like, oh, I don't know. 00:27:37.599 --> 00:27:45.599 So there's just a few companies, you know, I can list a few like Cash App only will allow you to purchase Bitcoin. 00:27:45.599 --> 00:27:49.599 They do let you purchase micro shares of stocks, which obviously are not the same thing. 00:27:49.599 --> 00:27:56.599 You have, what's another one? I was going to say Bull Bitcoin, but that's out of Canada. 00:27:56.599 --> 00:27:58.599 So if you're in the US, you can't have access to it. 00:27:58.599 --> 00:28:00.599 Did Bull start doing ETH? 00:28:00.599 --> 00:28:02.599 No, no, no, no. I'm saying they're all Bitcoin only. 00:28:02.599 --> 00:28:04.599 No, Bitcoin only. 00:28:04.599 --> 00:28:06.599 Like Rivers Bitcoin only too, right? 00:28:06.599 --> 00:28:10.599 Rivers Bitcoin only. Bitcoin Wells Bitcoin only. 00:28:10.599 --> 00:28:13.599 They're US based. They're Canada based, but now they're doing US stuff too. 00:28:13.599 --> 00:28:15.599 I think there's a lot of really, really good. 00:28:15.599 --> 00:28:17.599 Now, now there is. 00:28:17.599 --> 00:28:23.599 Yeah, yeah, yeah. I'd say, you know, I don't have enough context to say this because I'm new here. 00:28:23.599 --> 00:28:29.599 But, you know, five years ago, there wasn't, you know, I think it's always interesting, though, the thought of. 00:28:29.599 --> 00:28:32.599 Like, I remember the first time I ever heard of Bitcoin and I don't remember the year. 00:28:32.599 --> 00:28:37.599 I think I'm pretty confident I was in graduate school, which would be like 20. 00:28:37.599 --> 00:28:45.599 You know, a while ago, and the irony of the whole thing was I just remember it was an article. 00:28:45.599 --> 00:28:46.599 I think it was in Time magazine. 00:28:46.599 --> 00:28:50.599 They're talking about how Bitcoin was changing like Nigeria or something like that. 00:28:50.599 --> 00:28:52.599 And I was like, ha, that's funny. 00:28:52.599 --> 00:28:55.599 Those, you know, Nigeria for the worst. 00:28:55.599 --> 00:29:02.599 Tim, they go there again and again, you know, China coming in and scamming them out of the resources and all this other stuff. 00:29:02.599 --> 00:29:10.599 And then what's really cool is we're seeing the largest peaceful transfer of work, transfer of wealth ever. 00:29:10.599 --> 00:29:17.599 And it's going to be really, really interesting, though, when, you know, because I was in a space this morning listening to some people talk about this. 00:29:17.599 --> 00:29:21.599 There's going to become a moment where it's no longer peaceful. 00:29:21.599 --> 00:29:25.599 And you do need to be prepared for that. 00:29:25.599 --> 00:29:33.599 Yeah, like if you suddenly become very, very let's let's say let's just do a hypothetical. 00:29:33.599 --> 00:29:42.599 Let's say that over the course of the next 12 months, Bitcoin goes from one hundred thousand to two hundred fifty thousand to a million. 00:29:42.599 --> 00:29:48.599 It starts like the stock market crashes while Bitcoin is simultaneously going up. 00:29:48.599 --> 00:29:51.599 And you've been talking about Bitcoin to your friends and family. 00:29:51.599 --> 00:29:53.599 Your friends and family are probably going to get pretty jealous. 00:29:53.599 --> 00:29:57.599 They're going to tell people, oh, I've got this friend who's been super into Bitcoin. 00:29:57.599 --> 00:30:02.599 That person probably has like a full Bitcoin or two Bitcoin or ten Bitcoin or whatever. 00:30:02.599 --> 00:30:06.599 And all of a sudden people know that you have a higher net worth. 00:30:06.599 --> 00:30:09.599 There are speaking of Jameson Lopp on his Web site. 00:30:09.599 --> 00:30:23.599 He has a whole list of real what you could call five dollar wrench attacks, which basically means that somebody in the real world hit you over the head with something and said, you know, give me your seed words, give me your hardware wallet, give me whatever. 00:30:23.599 --> 00:30:25.599 And it's nobody knows. 00:30:25.599 --> 00:30:26.599 Nobody knows what's going to happen. 00:30:26.599 --> 00:30:36.599 We're all fairly confident that the value of Bitcoin, the price of Bitcoin is going to go up astronomically and that anybody holding any amount of Bitcoin is essentially going to be wealthy. 00:30:36.599 --> 00:30:44.599 And there are so many people out there who don't believe that Bitcoin is anything that's not a scam. 00:30:44.599 --> 00:30:46.599 And so those people don't hold any Bitcoin. 00:30:46.599 --> 00:30:58.599 And so at a certain point, all the skeptics are going to see their wealth evaporating and they're going to see people who were formerly not wealthy suddenly becoming wealthy and just human nature being what it is. 00:30:58.599 --> 00:31:00.599 There's going to be a lot of jealousy and a lot of anger. 00:31:00.599 --> 00:31:09.599 And so if you're going to be a bit corner and you really believe that you're about to see your wealth increase, well, it's like wealth isn't a zero sum game. 00:31:09.599 --> 00:31:19.599 But there is a reality that some people are going to be hurt and some people are going to get super wealthy and just human nature being what it is, jealousy being what it is. 00:31:19.599 --> 00:31:25.599 There's going to be real world consequences that we're going to we need to be prepared to face, essentially. 00:31:25.599 --> 00:31:31.599 Yeah. And I think that's actually one of the things that's honestly the most challenging in a situation like this. 00:31:31.599 --> 00:31:36.599 Right. We're all putting our faces out there. We're, you know, on unnamed to a degree. 00:31:36.599 --> 00:31:39.599 Right. And then Nim is if you're just completely anonymous. Right. 00:31:39.599 --> 00:31:49.599 And the value of that, in my mind, is candidly, I want the world to be a better place for my kids. 00:31:50.599 --> 00:31:58.599 And I don't want to be sitting on the sidelines. I don't want to be, you know, for me personally, I want to make anything and everything I touch a better place. 00:31:58.599 --> 00:32:04.599 And I know, you know, some of us have hard outs today. So I want to transition quickly into, you know. 00:32:04.599 --> 00:32:11.599 All right. So, you know, everything is kind of good and terrible to a degree. 00:32:11.599 --> 00:32:14.599 And I would say on the on the altcoin front, everything is terrible. 00:32:14.599 --> 00:32:26.599 There's really no positive in it. But, you know, Bonder, do you have any hot takes of like, all right, if there was a silver lining in the altcoin, you know, universe, what is it? 00:32:32.599 --> 00:32:35.599 Silver lining in the altcoin universe. I mean, we were talking about a little bit earlier. 00:32:36.599 --> 00:32:47.599 I think it's the the guy who touches the stove. Right. Versus the guy who doesn't touch the stove. 00:32:47.599 --> 00:32:53.599 Both of the guys learn the lesson that the stove is hot. But one guy has to touch the stove now. 00:32:53.599 --> 00:33:00.599 Now. Touching the stove is going to cause some, you know, some damage, right? 00:33:00.599 --> 00:33:05.599 Like there's so many people who have lost so much money trading altcoins. 00:33:05.599 --> 00:33:09.599 It is a it is a just pick any like pick any story. 00:33:09.599 --> 00:33:14.599 There's so many stories. People not just money to like their entire lives. 00:33:14.599 --> 00:33:20.599 They've lost their marriages. They've lost their like unbelievable damage trading altcoins. 00:33:20.599 --> 00:33:24.599 Like, are they going to be able to recover? Are they going to be able to learn the lesson? 00:33:24.599 --> 00:33:29.599 Oh, yeah. I was just fiat gambling and I completely missed it. 00:33:29.599 --> 00:33:36.599 But I mean, are they going to like, I don't know, hopefully that hopefully a lot of them learn the lesson. 00:33:36.599 --> 00:33:47.599 A lot of them see that like what the only thing that they were doing was just ignoring the long, the low time preference, long term perspective of of that Bitcoin teaches you. 00:33:47.599 --> 00:33:54.599 And that the the low time preference, long term perspective that fiat robs from you. 00:33:54.599 --> 00:33:58.599 Right. And you just take the fiat world and you apply it to Bitcoin. 00:33:58.599 --> 00:34:04.599 The first thing you do is go shit going because, oh, I can look at all these trading pairs like I can just make so much money. 00:34:04.599 --> 00:34:07.599 Oh, this one's going to we've got a community here and like, oh, OK. 00:34:07.599 --> 00:34:12.600 But like, man, that's it's it's so much of it is just a scam. 00:34:12.600 --> 00:34:21.600 I mean, all of it's a scam, but like the upside is that you understand scams way better that you can speak to them with authority. 00:34:21.600 --> 00:34:25.600 And hey, you were there. Me personally, I've been hacked three times. 00:34:25.600 --> 00:34:28.600 Like, OK, I know not to do that. Right. 00:34:28.600 --> 00:34:31.600 I mean, I had a whole shit coin phrase just like everybody else. 00:34:31.600 --> 00:34:35.600 Like, yeah, got hacked. So it's like, OK, I know I know where this ends. 00:34:35.600 --> 00:34:38.600 I know where this goes. I've touched the stove. 00:34:38.600 --> 00:34:42.600 I want to be out there making sure that people don't touch the stove. Right. 00:34:42.600 --> 00:34:46.600 So like, man, is it what's the what's the good that comes out of it? 00:34:46.600 --> 00:34:52.600 Hopefully people learn. Hopefully people get better, get wiser, get stronger. 00:34:52.600 --> 00:35:01.600 Right. Are able to defend themselves more, are able to to spot the, you know, as as that goes, as we're entering the age of discernment. 00:35:01.600 --> 00:35:07.600 If you don't have that skill, if you haven't refined that skill, you're going to have a bad time and that that's just going to continue. 00:35:07.600 --> 00:35:11.600 So, yeah, that that that's like the only thing comes to mind. 00:35:11.600 --> 00:35:15.600 But it's like this big if can can that come about? 00:35:15.600 --> 00:35:21.600 It depends. Depends on the person. Depends on how much, you know, how wise they are, how how much fortitude they have. 00:35:21.600 --> 00:35:27.600 So, yeah, that's a tough question. What's your take on it? 00:35:27.600 --> 00:35:40.600 I think the you know, I have an old boss who said the the way, you know, an idea is great is if it can make its way all the way through the idiot forest and still be great. 00:35:40.600 --> 00:35:45.600 And the the the normy versus the idiot forest. 00:35:45.600 --> 00:35:49.600 Right. And Bitcoin is that idea. 00:35:50.600 --> 00:35:57.600 You know, this this Henry Ford and we'll post on the better by Bitcoin handle the full text to the article. 00:35:57.600 --> 00:36:08.600 But, you know, the Ford would replace gold with energy currency and stop wars like the idea of an energy currency that can stop wars and actually bring peace has made its way through the idiot forest. 00:36:08.600 --> 00:36:16.600 And it is now in the world. And as you know, Bitcoin mechanic would say there is software that everybody complains about and software nobody uses. 00:36:16.600 --> 00:36:23.600 And we're now at this place where we have this idea that everybody is starting to use because everybody is complaining about it. 00:36:23.600 --> 00:36:27.600 And it's great. You know, Fiat was the first version of this, right? 00:36:27.600 --> 00:36:32.600 Everybody complained about the Fed, but nobody noticed all of it. And now we have a new thing to complain about. 00:36:32.600 --> 00:36:40.600 And I'm hoping very quickly we get to that point that Fiat is that software, that that old programming that nobody uses anymore. 00:36:40.600 --> 00:36:52.600 And I think that's what's going to be the good to come out of this is, you know, we're going to very quickly start to see because all of these Ponzi's and Altcoin verse, I think people are going to be able to very quickly make this corollary between. 00:36:52.600 --> 00:36:58.600 Oh, wait, all of those are Ponzi's. All of these things are the Fed. 00:36:58.600 --> 00:37:11.600 These are the same thing. It's literally that meme from the office. So it's how do we how do we just continue to to further that and make more and more people get that understanding really, really quickly? 00:37:11.600 --> 00:37:15.600 I think that's what's really, you know, the silver lining in my mind. What about you? 00:37:16.600 --> 00:37:29.600 Yeah, what Bondo was saying about touching the stove, it teaches you a lesson. And Bitcoin, if it wasn't Bitcoin, it would have been a Ponzi scheme and it would have collapsed. 00:37:29.600 --> 00:37:38.600 So Bitcoin is kind of like the Ponzi scheme that never collapse because it's not a Ponzi scheme. And every single shit coin is a Ponzi scheme. 00:37:38.600 --> 00:37:53.600 Every single cryptocurrency is a Ponzi scheme that will eventually go to zero. I don't know a single Bitcoin or who has never touched one of these things has never thought because it's just human nature. 00:37:53.600 --> 00:38:04.600 We think, oh, I got in whatever year I got in 2017. I got in 2021. I got in 2023. I'm too late. What's the next Bitcoin going to be? Because we all want to chase a quick buck. 00:38:04.600 --> 00:38:14.600 You end up going for that thing. Then you you see the value of Bitcoin just well, just going up incrementally, going up, going up, going up. 00:38:14.600 --> 00:38:22.600 And then that other thing you try to invest in, you either completely get scammed or it just starts to go down in value in when compared to Bitcoin. 00:38:22.600 --> 00:38:31.600 And you're like, if I would have just done my research, been a little patient, I could see my the value of what I invested going up. 00:38:31.600 --> 00:38:42.600 And at a certain point, it just humbles you. You go back into Bitcoin and you you're just like, I'm going to leave this value here until I absolutely need it. 00:38:42.600 --> 00:38:54.600 And I will see the value increase because this thing just is scarce. There's nobody controlling it. It's not a company. It's really it really is decentralized. 00:38:55.600 --> 00:39:11.600 And personally, I couldn't have learned that if I wouldn't have. I mean, my the thing that I did, I mean, I did a few bad things, but one of the worst things that I did was I invested in cloud mining and I actually put Bitcoin. 00:39:11.600 --> 00:39:23.600 I used Bitcoin to pay for hash rate in the cloud because I did the math and I was like, oh, I could get more Bitcoin over a year or whatever it was. 00:39:24.600 --> 00:39:32.600 And so I put point to seven Bitcoin, which I mean, that's like twenty five thousand dollars today into this cloud mining. 00:39:32.600 --> 00:39:40.600 And the the contract almost immediately got canceled when the market crashed and I lost all of that value. 00:39:40.600 --> 00:39:49.600 There's no getting it back. And I realize I could have just held on to that that point to seven Bitcoin and I didn't have to do anything. 00:39:49.600 --> 00:39:57.600 And you don't learn those lessons until you until your own jealousy makes you make a mistake. 00:39:57.600 --> 00:40:04.600 And then it teaches you how to do something like value investing, how to be patient. 00:40:04.600 --> 00:40:11.600 And I'm really thankful for Bitcoin for that, because Bitcoin essentially taught me how to be an investor. 00:40:12.600 --> 00:40:18.600 And I'm almost thankful that these scams exist because. 00:40:19.600 --> 00:40:33.600 In life, when something like that happens to you, when when a bad thing happens to you that you are naive enough to do, especially when you can humble yourself and take the blame for your own mistake, you learn a lesson. 00:40:33.600 --> 00:40:41.600 You really can't learn any other way. And. Yeah, it's a hard lesson to learn, but it's one that pretty much all of us have to learn. 00:40:41.600 --> 00:40:58.600 And the good news is that once you learn the lesson, Bitcoin still exists and there's there's you just can go buy Bitcoin and just exist and you can participate in this new Bitcoin economy. 00:40:59.600 --> 00:41:05.600 This new infrastructure that is being built and it's not going anywhere, it's only growing. 00:41:05.600 --> 00:41:13.600 And so you got you have nothing to lose. Yeah, I'm optimistic that we can get to a place here in California where. 00:41:14.600 --> 00:41:23.600 You know, I'm going to call it the current administration and regardless of party, by the way, I do not consider my I consider myself a crypto anarchist. 00:41:23.600 --> 00:41:34.600 That's a story for another thing. But the the reason for that is, I think cryptography, which is where crypto comes from, is the and specifically Bitcoin. 00:41:34.600 --> 00:41:43.600 But the the need of a hard money to underlay everything is the only way we get to get out of this mess that we are in. 00:41:44.600 --> 00:41:56.600 And hopefully in California we can continue to see the fact that, you know, Gavin Newsom has been promising since 1999, I believe, a high speed rail system every year. 00:41:56.600 --> 00:42:00.600 Billions and billions and billions and billions of dollars are poured into this thing. 00:42:00.600 --> 00:42:04.600 And the only people who seemingly are getting rich off of it are other politicians. That's weird. 00:42:05.600 --> 00:42:10.600 Or people connected to politicians. That's weird. That goes away on a Bitcoin standard. 00:42:10.600 --> 00:42:22.600 And immediately people start to realize, oh, excuse me, I just touched the hot stove and lost X amount of Bitcoin that can never be gotten back. 00:42:22.600 --> 00:42:25.600 And by the way, it's finite. So they're not just going to print more of it. 00:42:26.600 --> 00:42:30.600 And so, you know, Bitcoin in my mind is that wake up call. 00:42:30.600 --> 00:42:38.600 It's the canary in the coal mine that's going to help people realize, you know, we've been sitting on the stove, not just touching it, sitting on it here in California. 00:42:38.600 --> 00:42:46.600 And hopefully very soon our pants catch on fire and we can right the ship and actually turn this place into the best place in the world. 00:42:46.600 --> 00:42:54.600 Because I do think California can be, you know, right up there with the southern shores of Italy or Singapore. 00:42:54.600 --> 00:42:59.600 I love both of those places. A little too humid in Singapore, but yeah. 00:42:59.600 --> 00:43:12.600 Yeah. Singapore is great as a society, but there's very few places on Earth that have the landscape, the climate, the geography. 00:43:12.600 --> 00:43:18.600 The soil that California has and this infrastructure that got built during a heyday. 00:43:19.600 --> 00:43:28.600 And yeah, it almost makes me want to welcome people or encourage people who have a similar mindset to move to California. 00:43:28.600 --> 00:43:35.600 It would be a sacrifice to do it now because the cost of living is so high, but it is thoroughly good here. 00:43:35.600 --> 00:43:43.600 Yeah. So, well, cool. Any last thoughts? I'm I think I'm I'm good for the day, but I appreciate everybody tuning in. 00:43:43.600 --> 00:43:49.600 Yeah, I agree. I have so much more to say on this subject. I mean, I could ramble on and on and on. 00:43:49.600 --> 00:43:54.600 I was thinking just now that that point to seven Bitcoin that I lost. 00:43:54.600 --> 00:43:59.600 I want to say the name of the scam, but at the same time, there's still so much embarrassment. 00:43:59.600 --> 00:44:05.600 I don't want to give them anything that I'm not going to say it, but it cost me seven hundred dollars. 00:44:05.600 --> 00:44:10.600 That's what I paid for that Bitcoin. It would now be worth twenty five thousand dollars. 00:44:10.600 --> 00:44:16.600 And it's my own fault that that got lost. And I still think about it to this day. 00:44:16.600 --> 00:44:25.600 I mean, I don't know about you, but I will literally go into my email and search for the word Bitcoin to try and figure out when was I thinking about this thing? 00:44:25.600 --> 00:44:33.600 And I can find emails from 2010, 2011 where it just got mentioned to me. What was I doing? Why was I investing everything into it now? 00:44:33.600 --> 00:44:39.600 So I just want to tell people that it is absolutely not too late to learn about Bitcoin. 00:44:39.600 --> 00:44:43.600 It's not that hard to learn how it functions in the general context. 00:44:43.600 --> 00:44:55.600 It's definitely not too late to start if you want to start investing your own money or dollar cost averaging in just setting up different systems and different accounts with platforms and things like that. 00:44:55.600 --> 00:45:04.600 It is so far from being too late and just learn about Bitcoin and it will make your life better. 00:45:04.600 --> 00:45:07.600 Yep. You're going to have two options with Bitcoin. 00:45:07.600 --> 00:45:15.600 You can learn about it because you want to or you can learn about it because you have to, because there will be a point where that's the case. 00:45:15.600 --> 00:45:20.600 Thank you, everybody, for chiming in this week. And we'll see you. See you later. 00:45:26.600 --> 00:45:32.600 Thanks for tuning in to Better Buy Bitcoin. Bitcoin makes everything better. 00:45:32.600 --> 00:45:38.600 Like, subscribe and follow us on X at Better B Y BTC, YouTube at Better B Y Bitcoin. 00:45:38.600 --> 00:45:41.600 Not financial advice, mathematical certainty.