WEBVTT 00:00:00.000 --> 00:00:10.000 Hey friend, listen. I know the world is scary right now. Corruption, war, inflation, demographics, 00:00:10.000 --> 00:00:16.000 degeneracy, disease, unrest, hatred and despair. We didn't come here to tell you how it is, 00:00:16.000 --> 00:00:18.000 but that it's going to get way better. 00:00:26.000 --> 00:00:28.000 Better, by Bitcoin. 00:00:30.000 --> 00:00:32.000 Better, by Bitcoin. 00:00:34.000 --> 00:00:36.000 Nice. Love it. 00:00:36.000 --> 00:00:38.000 Always good. 00:00:38.000 --> 00:00:42.000 So glad we got that going. Really puts you in the right head space. 00:00:42.000 --> 00:00:46.000 Especially considering, you know, all the drama and all the insanity 00:00:46.000 --> 00:00:49.000 and all the other ridiculous things that we got going on. 00:00:49.000 --> 00:00:52.000 Is there stuff going on in Bitcoin? I didn't anticipate this. 00:00:52.000 --> 00:00:54.000 Stuff going on. 00:00:54.000 --> 00:00:58.000 Yeah, so we're back on the show Better, by Bitcoin. 00:00:58.000 --> 00:01:02.000 We are going to, you know, we did this at the top of the week, 00:01:02.000 --> 00:01:06.000 but we kind of want to revisit it again. 00:01:06.000 --> 00:01:10.000 And this is talking about the Bitcoin, the debate about the filters 00:01:10.000 --> 00:01:12.000 and what's happening, like what it means. 00:01:12.000 --> 00:01:16.000 Because a lot of different people, there seems to be a, I don't know, 00:01:16.000 --> 00:01:18.000 a disconnect in the conversation. 00:01:18.000 --> 00:01:21.000 People on one side are kind of hearing one thing. 00:01:21.000 --> 00:01:24.000 People on the other side are hearing a different thing, right? 00:01:24.000 --> 00:01:27.000 And so people on both sides, they're not really talking to each other. 00:01:27.000 --> 00:01:29.000 They're just talking past each other on both sides. 00:01:29.000 --> 00:01:35.000 It's a very, you know, interesting dynamic and worth exploring, 00:01:35.000 --> 00:01:39.000 worth trying to flesh out and understand at a deeper level. 00:01:39.000 --> 00:01:42.000 So, JD, got you back. 00:01:42.000 --> 00:01:47.000 You are remote today, which is working through it. 00:01:47.000 --> 00:01:48.000 Working through it. 00:01:48.000 --> 00:01:49.000 My phone dies. 00:01:49.000 --> 00:01:53.000 Whoops. 00:01:53.000 --> 00:01:54.000 But we'll see. 00:01:54.000 --> 00:01:58.000 I'm, like, away from every charging orifice. 00:01:58.000 --> 00:02:00.000 So we'll see how that goes. 00:02:00.000 --> 00:02:04.000 We'll go a shorter episode. 00:02:04.000 --> 00:02:05.000 Let's try. 00:02:05.000 --> 00:02:06.000 We'll make it work. 00:02:06.000 --> 00:02:07.000 We'll make it work. 00:02:07.000 --> 00:02:10.000 Yeah, so the debate. 00:02:10.000 --> 00:02:12.000 I'll try and introduce the debate this time. 00:02:12.000 --> 00:02:14.000 You introduced it last time. 00:02:14.000 --> 00:02:15.000 You had some good things to say. 00:02:15.000 --> 00:02:17.000 You went on some epic rants. 00:02:17.000 --> 00:02:18.000 I'm going to try and introduce it this time. 00:02:18.000 --> 00:02:21.000 Try and get, you know, lay some groundwork, 00:02:21.000 --> 00:02:23.000 and then I'll pass it off to you to see, you know, 00:02:23.000 --> 00:02:28.000 where you're at in your head space about the current state of things. 00:02:28.000 --> 00:02:33.000 So mechanic, grass-fed Bitcoin, right? 00:02:33.000 --> 00:02:34.000 That's the guy. 00:02:34.000 --> 00:02:43.000 He was essentially kicked off of the Bitcoin Core repo for posting a comment about, 00:02:44.000 --> 00:02:48.000 I forget what the exact comment was, but it raised the question about, 00:02:48.000 --> 00:02:51.000 well, maybe there's a conflict of interest here, right? 00:02:51.000 --> 00:02:52.000 That was the one? 00:02:52.000 --> 00:02:53.000 Yeah. 00:02:53.000 --> 00:02:58.000 And the consequences of that were that he gets kicked off the repo. 00:02:58.000 --> 00:03:00.000 He didn't, like, okay, cool, but, like, 00:03:00.000 --> 00:03:05.000 it really drew attention to, well, what was he commenting about? 00:03:05.000 --> 00:03:10.000 Well, he was commenting about the fact that they're trying to remove a filter 00:03:10.000 --> 00:03:14.000 on the op return setting. 00:03:14.000 --> 00:03:20.000 Like, not change the filter, but remove the ability to have a filter at all. 00:03:20.000 --> 00:03:26.000 Remove a setting from the CLI tool for Bitcoin D. 00:03:26.000 --> 00:03:28.000 Yeah, Bitcoin D. 00:03:28.000 --> 00:03:33.000 Okay, well, gee, that could be bad. 00:03:33.000 --> 00:03:34.000 That could be good. 00:03:34.000 --> 00:03:35.000 What's the deal with this filter? 00:03:35.000 --> 00:03:36.000 Why does this matter? 00:03:36.000 --> 00:03:46.000 Okay, so the filter says it sets a limit for a valid transaction that your mempool 00:03:46.000 --> 00:03:50.000 will recognize, and that limit is something like 83 bytes. 00:03:50.000 --> 00:04:00.000 So if your op return op code had a value that was more than 83 bytes, 00:04:00.000 --> 00:04:04.000 it would be an invalid transaction according to your node, 00:04:04.000 --> 00:04:09.000 and, therefore, you'd automatically have this setting as a filter, 00:04:09.000 --> 00:04:12.000 and you'd filter out transactions that violated that rule, right? 00:04:12.000 --> 00:04:15.000 So if they're removing the filter entirely, 00:04:15.000 --> 00:04:26.000 that allows anybody to set any bit amount on an op return and just go ham, 00:04:26.000 --> 00:04:28.000 like, go ham, whatever. 00:04:28.000 --> 00:04:34.000 Now, the problem with this, of course, is that this affects block space. 00:04:34.000 --> 00:04:38.000 Now, if every transaction has this massive block of meaningless text 00:04:38.000 --> 00:04:44.000 or JPEG, wizard dick pics, well, you're going to run out of block space 00:04:44.000 --> 00:04:48.000 really soon or faster than you would otherwise, and the consequences of that 00:04:48.000 --> 00:04:50.000 are that nodes become more expensive to run. 00:04:50.000 --> 00:04:54.000 If nodes are more expensive to run, the system becomes more centralized. 00:04:54.000 --> 00:04:58.000 We covered this last week, you know, and, well, not last week, 00:04:58.000 --> 00:05:06.000 the beginning of this week, and so there is a practical consequence 00:05:06.000 --> 00:05:08.000 for just removing the filter. 00:05:08.000 --> 00:05:11.000 It kind of cascades into this bigger thing, right? 00:05:11.000 --> 00:05:19.000 Now, some of the pushback has been, well, bro, they're already doing, like, 00:05:19.000 --> 00:05:21.000 okay, op return, you can fill it with spam. 00:05:21.000 --> 00:05:24.000 Well, they're already doing spam. 00:05:24.000 --> 00:05:29.000 Okay, so if they're already doing spam, well, then what difference does it make 00:05:29.000 --> 00:05:31.000 that we remove the filter at all, right? 00:05:31.000 --> 00:05:36.000 And you get into these, like, what ifs and this way and that way 00:05:36.000 --> 00:05:38.000 and how much and quantifying it and all this other stuff, 00:05:38.000 --> 00:05:41.000 and it just becomes this really long, prolonged thing, 00:05:41.000 --> 00:05:47.000 but the unfortunate part about it, or, you know, depending on your perspective, 00:05:48.000 --> 00:05:52.000 I think at this point in the debate we're now looking at there's two sides 00:05:52.000 --> 00:05:55.000 of the argument, one that says it's almost like a, I don't know 00:05:55.000 --> 00:05:59.000 if the right word is ontological, but it's like a telos kind of, like, 00:05:59.000 --> 00:06:01.000 what's the meaning of Bitcoin, right? 00:06:01.000 --> 00:06:02.000 Like, what's the purpose of this? 00:06:02.000 --> 00:06:03.000 Why are we doing this? 00:06:03.000 --> 00:06:05.000 Like, what's this all about, right? 00:06:05.000 --> 00:06:09.000 So the high-level debate is now, or this debate has now escalated 00:06:09.000 --> 00:06:10.000 to a high-level debate. 00:06:10.000 --> 00:06:13.000 What's the purpose of Bitcoin, the telos? 00:06:13.000 --> 00:06:20.000 Which is, on one camp, they're basically saying it's a technical, 00:06:20.000 --> 00:06:25.000 this is a technical thing that because they're using it anyway, 00:06:25.000 --> 00:06:30.000 it doesn't matter, and let's just be honest about what the code can 00:06:30.000 --> 00:06:33.000 and can't do and what, like, if we can push all this stuff 00:06:33.000 --> 00:06:36.000 in this area, well, then that's going to be safer 00:06:36.000 --> 00:06:40.000 and have all these other technical kind of things. 00:06:40.000 --> 00:06:43.000 And then the other side, the other camp, basically takes a different, 00:06:43.000 --> 00:06:47.000 like a completely different tact, a different telos, 00:06:47.000 --> 00:06:52.000 which is that Bitcoin is money, and because Bitcoin's money, 00:06:52.000 --> 00:07:00.000 that means that it should be filtering out every single possible thing 00:07:00.000 --> 00:07:01.000 that is not money. 00:07:01.000 --> 00:07:07.000 Therefore, it makes no sense that we would, one, think it's okay 00:07:07.000 --> 00:07:11.000 to remove the filter, two, think it's okay to just change whatever 00:07:11.000 --> 00:07:14.000 the setting is on the filter at all, right? 00:07:14.000 --> 00:07:18.000 So one camp is basically saying, if this goes through, 00:07:18.000 --> 00:07:21.000 the telos of Bitcoin changes, and the other camp is saying, 00:07:21.000 --> 00:07:23.000 this has nothing to do with the telos at all. 00:07:23.000 --> 00:07:27.000 This is strictly a technical change. 00:07:27.000 --> 00:07:31.000 Now, I don't know if I introduced that well or put it succinctly, 00:07:31.000 --> 00:07:37.000 but that's kind of where I see it presently. 00:07:37.000 --> 00:07:40.000 J.D., does that line up with where you're at and what you know 00:07:40.000 --> 00:07:42.000 about this debate? 00:07:42.000 --> 00:07:44.000 Yeah, and I have some background. 00:07:44.000 --> 00:07:48.000 I'm going to be muting and unmuting, and I think you may have a text 00:07:48.000 --> 00:07:51.000 of somebody you might be able to join if you want to tell them to jump in, 00:07:51.000 --> 00:08:00.000 but yes, that sounds accurate, and I think it's an interesting debate 00:08:00.000 --> 00:08:06.000 because it's one of those moments where it's kind of like, you know, 00:08:06.000 --> 00:08:11.000 you go in to the doctor for a solution to, it's like, oh, 00:08:11.000 --> 00:08:14.000 I have this pain in my arm or whatever it is. 00:08:14.000 --> 00:08:17.000 Actually, I'd probably say it's more akin to maybe the way I have heard 00:08:17.000 --> 00:08:19.000 of a lot of people who've gotten lymphoma, 00:08:19.000 --> 00:08:23.000 like have just discovered that they had some type of lymphoma. 00:08:23.000 --> 00:08:26.000 It's like, oh, I was sick for a long period of time, and I went in, 00:08:26.000 --> 00:08:29.000 and then they're like, I just think I have a cough, 00:08:29.000 --> 00:08:32.000 and then they end up going, oh, dude, you have stage four lymphoma. 00:08:32.000 --> 00:08:34.000 You're about to die. 00:08:34.000 --> 00:08:39.000 I'm using that as an example because it's like something really, really, 00:08:39.000 --> 00:08:41.000 like it's not about the filter. 00:08:41.000 --> 00:08:48.000 It's the whole thing where the filter just kind of brought to light something 00:08:48.000 --> 00:08:52.000 that really needed to be solved but wasn't really solved, 00:08:52.000 --> 00:08:55.000 and it sounds like a conversation that actually happened when you 00:08:55.000 --> 00:08:58.000 and a lot of other folk was like, I'm still a baby and learning all this stuff, 00:08:58.000 --> 00:09:00.000 but during the block size war, 00:09:00.000 --> 00:09:04.000 which was a discussion around the fundamental premise of is Bitcoin money 00:09:04.000 --> 00:09:06.000 or is it a database, right? 00:09:06.000 --> 00:09:11.000 Because that's kind of what my understanding of the big changes 00:09:11.000 --> 00:09:14.000 for the big blockers would have essentially done 00:09:14.000 --> 00:09:18.000 because it would have made this problem exponentially worse 00:09:18.000 --> 00:09:22.000 if this was now gone and then we had even bigger blocks than we have now. 00:09:23.000 --> 00:09:29.000 And so, yeah, that's kind of I think the top line is they're kind of talking 00:09:29.000 --> 00:09:34.000 across each other because each of them is approaching it from a different way. 00:09:34.000 --> 00:09:37.000 Somebody's approaching it from the this is what the code can do, 00:09:37.000 --> 00:09:40.000 and somebody's approaching it, but why? 00:09:40.000 --> 00:09:44.000 And so it's like neither of them I would say is wrong, 00:09:44.000 --> 00:09:47.000 but they do have to have a shared conclusion to solve the problem. 00:09:47.000 --> 00:09:48.000 Yeah, yeah. 00:09:48.000 --> 00:09:58.000 I think having this debate also having this debate on Twitter doesn't lend itself well to just 00:09:58.000 --> 00:10:01.000 because I mean, we got in this last week, too, 00:10:01.000 --> 00:10:08.000 but like there is so much nuance to Bitcoin and you literally cannot you can't just be like, 00:10:08.000 --> 00:10:15.000 like, thank God for Luke's contributions and guys brilliant, et cetera. 00:10:15.000 --> 00:10:22.000 But when he says that when you are adding spam to the to my node, you're raping like that's rape. 00:10:22.000 --> 00:10:26.000 It's like, bro, that's that's a lot of that. 00:10:26.000 --> 00:10:28.000 But I agree with that. 00:10:28.000 --> 00:10:33.000 But like it's a lot of hyperbole that doesn't like if like, OK, great. 00:10:33.000 --> 00:10:39.000 You believe that that's the case, but it's taken in context of everybody else watching online 00:10:39.000 --> 00:10:44.000 and figuring out it's like that is not the right like way to sell your point. 00:10:44.000 --> 00:10:48.000 Right. Like you may believe that that's that's fine. 00:10:48.000 --> 00:10:53.000 That can be totally justified in your head, but it's not the right like way to sell that point. 00:10:53.000 --> 00:10:58.000 Now, therefore, Twitter has a problem. 00:10:58.000 --> 00:11:01.000 Like there's a problem in terms of the medium that allows us to get through this, 00:11:01.000 --> 00:11:05.000 because in Luke's mind, it's it's totally valid point. 00:11:05.000 --> 00:11:16.000 Anton, what's up, man? We're live, by the way. 00:11:16.000 --> 00:11:23.000 So one of the things that comes out of that is like, OK, well, you really have to get the nuance. 00:11:23.000 --> 00:11:27.000 And again, Twitter doesn't do the nuance very well. So it's good to have a conversation like this. 00:11:27.000 --> 00:11:33.000 It's good to do offline and just kind of like or sideline like talks. 00:11:33.000 --> 00:11:36.000 J.D., you and I have been going back and forth on text, which I think is super helpful. 00:11:36.000 --> 00:11:41.000 Like it allows you to like actually get into somebody's headspace and all that stuff. 00:11:41.000 --> 00:11:47.000 But one of the things I think is fascinating is just, again, that the missing each other piece. 00:11:47.000 --> 00:11:51.000 Right. Like when Luke says this is right. 00:11:51.000 --> 00:11:57.000 Well, probably somebody is going to take that and just be like, actually, you know what? 00:11:57.000 --> 00:12:01.000 You still like there's no debate there. There's no argument there. 00:12:01.000 --> 00:12:06.000 Right. As opposed to. A more level headed. 00:12:06.000 --> 00:12:12.000 Hey, how do we like get into this and get into this correctly and like actually pose and actually, 00:12:12.000 --> 00:12:17.000 actually pose an argument and actually refute the argument and not just attack the person or whatever the thing is. 00:12:17.000 --> 00:12:25.000 Right. So like and then all the pleads and everyone else just like losing their minds over whatever the thing is. 00:12:25.000 --> 00:12:30.000 And just like, oh, my goodness, you try it. You've got to try and keep an even head on it. 00:12:30.000 --> 00:12:34.000 Yeah. It's a moment. Quick recapping. 00:12:34.000 --> 00:12:45.000 And if you didn't have a chance to hear the top of it, but basically the core of the discussion today is the fact that the two sides are kind of talking past each other. 00:12:45.000 --> 00:12:50.000 One is talking about technical. One is talking about cultural aspects of Bitcoin. 00:12:50.000 --> 00:12:57.000 But then I would say that the big deduction for me is even though they're talking past each other, 00:12:57.000 --> 00:13:03.000 they actually do have to have an alignment in my particular case on the culture side of the equation, 00:13:03.000 --> 00:13:08.000 because the culture in my mind is the North Star and my culture, I mean, story. 00:13:08.000 --> 00:13:14.000 If you get the story, is it a medium of exchange and store of value? 00:13:14.000 --> 00:13:23.000 Or is it a like my my my premise would be Bitcoin is a store of value, medium of exchange, period, full stop. 00:13:23.000 --> 00:13:32.000 Or is it a database? And that is, in my mind, the crux of this story argument is it's a database or it's this. 00:13:32.000 --> 00:13:39.000 And I and I think that's kind of a mechanic in the other thing, and there really can't be it has to be one of the two. 00:13:39.000 --> 00:13:44.000 It can't. It is a binary. Is that you have any thoughts on that? 00:13:44.000 --> 00:13:55.000 Well, yeah, Bitcoin was made to be money. It was made to be a peer to peer digital currency. 00:13:55.000 --> 00:14:02.000 It has the ability to put things like smart contracts on it and things like that. 00:14:02.000 --> 00:14:11.000 Satoshi didn't know when Bitcoin was created that there would be 20,000 altcoins. 00:14:11.000 --> 00:14:16.000 The altcoins can be used for all kinds of experiment conservative estimate. 00:14:17.000 --> 00:14:26.000 It's infinite, really. I mean, it can be infinite and just copy and paste the code and like it sort of exists. 00:14:26.000 --> 00:14:32.000 But we have all these altcoins to experiment on. 00:14:32.000 --> 00:14:40.000 That doesn't mean that Bitcoin needs to have every single thing that is possible that you can put on an altcoin. 00:14:40.000 --> 00:14:47.000 And. The question that I have, and I'm curious what you guys thoughts are on this is. 00:14:47.000 --> 00:14:55.000 If we get it wrong. Because ultimately, we're not in control of what happens, like the three of us are not in control, 00:14:55.000 --> 00:15:02.000 what whatever is going to happen is going to happen. Is there any danger to Bitcoin if the wrong decisions are made, 00:15:02.000 --> 00:15:08.000 like legitimate danger to the future of Bitcoin existing? 00:15:08.000 --> 00:15:18.000 So, I mean, from a technical perspective, you'd really have to go down and you have to make assumptions about. 00:15:18.000 --> 00:15:25.000 Hard drive costs like what it costs to run a node, you have to make because you can't really ultimately predict into a few years, 00:15:25.000 --> 00:15:33.000 but then there's there's economic catastrophes, random tariffs, as we're seeing, 00:15:33.000 --> 00:15:41.000 and all sorts of other unknown unknowns that could affect the price of a hard drive cost and price of ultimately a node cost. 00:15:41.000 --> 00:15:45.000 However, in Bitcoin, there are knowns and there are no knowns. 00:15:45.000 --> 00:15:50.000 It's like, well, OK, we know that if every block is always full, 00:15:50.000 --> 00:15:58.000 that means that there's going to be 210 gigabytes of information added to the block chain every year. 00:15:58.000 --> 00:16:03.000 If every block is always full. Right. That's a that's a hard. 00:16:03.000 --> 00:16:08.000 This is this is what it is. There's nothing that anybody is going to be able to do to change that. 00:16:08.000 --> 00:16:13.000 Well, that's in a worst case scenario. Presently, we have blocks there, whatever. 00:16:13.000 --> 00:16:21.000 I don't know what it was today. I think I checked it yesterday, but it was the average block was something like one point six megabytes. 00:16:21.000 --> 00:16:34.000 Yeah. So one point six megabytes is not even halfway to four megabytes and four megabytes is when you get the two hundred and ten gigabytes per year. 00:16:34.000 --> 00:16:42.000 OK, so. We are presently and obviously the mempool is is getting flushed out regularly, 00:16:42.000 --> 00:16:46.000 maybe not regularly, but it was flushed out recently, which is great. Fantastic. 00:16:46.000 --> 00:16:52.000 Now, to your original question, are there real dangers to this? 00:16:52.000 --> 00:16:59.000 Well, you can do that. You can do the math on it. What's your assumption about hard drive costs? 00:16:59.000 --> 00:17:07.000 Right. Storage costs for this stuff. If your assumption is that like if your assumption is a generous assumption that says something like, 00:17:07.000 --> 00:17:17.000 well, it's going to be eight percent decrease in the cost of solid state storage like per year for the next however many years. 00:17:17.000 --> 00:17:32.000 Well, then there's no world in which year over year the cost of storing Bitcoin is more expensive than the previous year because the cost grows linearly. 00:17:32.000 --> 00:17:44.000 And so the cost of the Bitcoin blockchain grows linearly, whereas the reduction in costs for the solid state hard drives are reduced at an exponential rate, 00:17:44.000 --> 00:17:49.000 eight percent this year, eight percent the next year, eight percent, eight percent goes on and on. Right. 00:17:49.000 --> 00:17:53.000 And it's not exponential. It's something like exponential decay or logarithmic or something. 00:17:53.000 --> 00:18:01.000 But you compare these things is like, OK, this is these are not comparable in the worst case scenario. 00:18:01.000 --> 00:18:08.000 They're not comparable. But if your assumption is that like we're going to have like crazy tariffs and things are going to get way worse than it might make sense to say, 00:18:08.000 --> 00:18:14.000 well, maybe the cost of hard drives like go up. Right. Like two percent, four percent. 00:18:14.000 --> 00:18:22.000 I don't know. One hundred and fifty percent. Well, that's that's going to be real problematic to run a node. Right. 00:18:22.000 --> 00:18:31.000 Also, the cost of. Transmission, like you have to be able to sink a node in a certain amount of time or else it's just not worth it for anybody, 00:18:31.000 --> 00:18:40.000 like sinking a node, for instance, on a spinning rust hard drive like will take you forever at this point. 00:18:40.000 --> 00:18:45.000 I don't know how long it takes, but it takes forever. It's such a long time. It's crazy, like unbelievable. 00:18:45.000 --> 00:18:54.000 I just so like in on my note, I have here at home, I, you know, killed one of my containers and re-spun up a Bitcoin node. 00:18:54.000 --> 00:19:01.000 It took me about maybe 17 hours to to sink the whole block chain in an IBD. 00:19:01.000 --> 00:19:05.000 So that's that gives you an idea of where we're at. Like, yeah, 17 hours. That's pretty good. 00:19:05.000 --> 00:19:13.000 I've gotten, you know, in years ago, I remember getting like twenty five hours or like two weeks and like on a hard drive or spinning rust hard drive. 00:19:13.000 --> 00:19:20.000 And then like you go through, like I've had if you set the cash to super big and get it in eight hours and like all that stuff. 00:19:20.000 --> 00:19:27.000 So that's just like the practical stuff with a node. Does does this affect? 00:19:27.000 --> 00:19:38.000 Well, OK, so you got to look at the cost. Well, OK, if if all the box are full and all these costs are going up, well, how much are they going up by? 00:19:39.000 --> 00:19:44.000 OK, so maybe it costs like, I don't know, eight thousand dollars in 10 years to run another. 00:19:44.000 --> 00:19:49.000 It's like, OK, what's inflation going to be like in 10 years? 00:19:49.000 --> 00:19:52.000 Like like how much is that accounted for? 00:19:52.000 --> 00:19:57.000 There is like there's a lot that goes into this equation. Right. 00:19:57.000 --> 00:20:01.000 So. For me personally, what are the costs? 00:20:01.000 --> 00:20:11.000 It's like, well, the bandwidth costs and hard drive costs and the consequences of those costs, I don't think they go up at a rate that's just super crazy. 00:20:11.000 --> 00:20:16.000 I think that there's still going to be enough people to be able to afford this stuff. 00:20:16.000 --> 00:20:24.000 Now. Do we like enough people that can afford to run a node, but does. 00:20:24.000 --> 00:20:28.000 Is that what we want or do we want to be able to have more people run nodes? 00:20:28.000 --> 00:20:35.000 We want to make nodes far more. Affordable. Right. 00:20:35.000 --> 00:20:40.000 So that's the technical perspective, J.D., you have a different perspective because you're way more in tune with the like the cultural side of it. 00:20:40.000 --> 00:20:45.000 So I want to hear your like the cultural side, like the cultural argument. 00:20:45.000 --> 00:20:49.000 Yeah. Yeah. I think you give a good breakdown. 00:20:49.000 --> 00:20:54.000 And actually, I think what I love, actually, I'll give the cultural side and that I'd love your take on this to answer. 00:20:54.000 --> 00:21:04.000 But the the cultural side of it is that the tape that the mechanic was making is, I think, the thing that people are missing. 00:21:04.000 --> 00:21:15.000 Because at the end of the day, people are invested in Bitcoin and I'm saying invested in Bitcoin because now we have institutional buyers buying this money because it is money. 00:21:15.000 --> 00:21:18.000 They don't care about block space. They don't care about all this stuff. 00:21:18.000 --> 00:21:24.000 They are going to be institutionally incentivized to start doing things that will make them more money. 00:21:24.000 --> 00:21:35.000 So I do understand that aspect of things. But in my mind, that is actually why it is imperative to get the north star. 00:21:35.000 --> 00:21:44.000 Of what it is airtight, because that's how you're going to go through and do everything like a few quick stories on this would be like the first one would be my space. 00:21:44.000 --> 00:21:47.000 Right. Nobody uses my space anymore. Why? 00:21:47.000 --> 00:21:53.000 Because the story died. The story from my space became you use my space. 00:21:53.000 --> 00:21:56.000 Like originally it was, oh, you can use my space to connect to your friends. 00:21:56.000 --> 00:21:59.000 But it was originally you can use it to connect to your fans. 00:21:59.000 --> 00:22:11.000 If you're a band, you can start like going out there and, you know, because I remember the band that I was like with when I was in high school, they like used it to to show all of their events or it's all going to be. 00:22:11.000 --> 00:22:14.000 So it's a great place for you to connect for your fans and grow your audience. 00:22:14.000 --> 00:22:22.000 Like that was the story. But then the story became, oh, well, there's a better place to do connecting with your fans and everything is called Facebook. 00:22:22.000 --> 00:22:27.000 And then my space just died because people just became disinterested with it. 00:22:27.000 --> 00:22:45.000 And so I think the 2140 end of Bitcoin issuance schedule does actually have to be a part of this calculus because we need a story that's going to be a hundred year story for Bitcoin. 00:22:45.000 --> 00:22:48.000 Period. That's fully my my belief on this. 00:22:48.000 --> 00:22:51.000 And Bitcoin is money is a hundred year story. 00:22:51.000 --> 00:23:01.000 I do think the story needs fine tuning, and I actually think that's why it's so imperative, like people like us who are in entertainment are now kind of coming in now, like we were too regarded to understand this in the beginning. 00:23:01.000 --> 00:23:04.000 And so we don't get to reap the rewards of that. Right. That's fine. OK, cool. 00:23:04.000 --> 00:23:12.000 Like we are we are the second wave of of of of comers to the strike, the 40th wave, if you're actually looking at it. 00:23:12.000 --> 00:23:20.000 But that's how it was supposed to be, because we are not here to protect the the technical fundamentals, which I do think need to be debated. 00:23:20.000 --> 00:23:28.000 And I think that was the bigger piece of this is they blocked mechanic and Luke, who has more commits to Bitcoin than anybody in existence outside of Stoshi. 00:23:28.000 --> 00:23:37.000 All right. I mean, he has more than even existence. But, you know, it's like the number one contributor to all of Bitcoin was blocked from from commenting on this thing. 00:23:37.000 --> 00:23:42.000 Right. And he is a contributor because Jameson Lopp was like, they're only blocking like non contributors. 00:23:42.000 --> 00:23:46.000 It looks like I happen to be the number one contributor and they've blocked me. 00:23:46.000 --> 00:23:50.000 So where I'm going with this, though, is the story is the most important thing. 00:23:50.000 --> 00:24:04.000 And it's like the Christianity story, right? The Christian story is that Jesus Christ was fully God and fully man and was on a cross and died for your sins. 00:24:04.000 --> 00:24:11.000 And three days later, he rose again. That is it. Jesus, the simplest version of it is Jesus died and rose from the dead. 00:24:11.000 --> 00:24:15.000 If that is not true, then Christianity is not true. 00:24:15.000 --> 00:24:18.000 And so it needs to be something as simple as that in my mind. 00:24:18.000 --> 00:24:26.000 And so landing the plane on Bitcoin and an answer, I'd be curious to take Bitcoin is and I think there needs to be like a moniker like this. 00:24:26.000 --> 00:24:33.000 It's like Bitcoin is the medium of exchange and store of value for the digital age. 00:24:33.000 --> 00:24:51.000 Like and I do think money or monetary or like the monetary network, like the preeminent monetary network, that is a medium of exchange and store value for the digital age needs to kind of get codified and put out there because that lens will be how everyone filters everything. 00:24:51.000 --> 00:24:59.000 So all those technical arguments will have to go through that filter of what the story is, what you're trying to accomplish before they get to the other side. 00:24:59.000 --> 00:25:05.000 In what I said, I think it's really hard to put monkey JPEGs into that framework. 00:25:05.000 --> 00:25:10.000 Like I see no way to make monkey JPEGs work in medium exchange or or store value. 00:25:10.000 --> 00:25:13.000 And so, yeah, but that's that's my that's my take. 00:25:13.000 --> 00:25:19.000 That's my thing is I think the story now has kind of come to light as the most important thing. 00:25:19.000 --> 00:25:23.000 And I think we need to solve that problem. And that's why I'm excited, actually, personally, to be adding to the space. 00:25:24.000 --> 00:25:29.000 Yeah, people are I mean, people are very impatient. 00:25:29.000 --> 00:25:38.000 And I understand they want I mean, lots of people want various things from Bitcoin. 00:25:38.000 --> 00:25:42.000 They want you know, I kind of want fiat money to fail. 00:25:42.000 --> 00:25:46.000 And for Bitcoin to be what we use to transact value. 00:25:46.000 --> 00:25:48.000 And we're not there yet. 00:25:48.000 --> 00:25:57.000 You can't you know, you can't buy a house currently in the United States and just pay some like see a house on Redfin and then pay for it with Bitcoin. 00:25:57.000 --> 00:25:59.000 There was a time period where you could do that with a Tesla. 00:25:59.000 --> 00:26:03.000 You can't even do that anymore. 00:26:03.000 --> 00:26:06.000 It's like I want that future, but that doesn't exist yet. 00:26:06.000 --> 00:26:10.000 And we know. 00:26:10.000 --> 00:26:13.000 Well, together, we don't talk about the price of Bitcoin a lot. 00:26:13.000 --> 00:26:17.000 We talk more about the philosophy behind it. 00:26:17.000 --> 00:26:19.000 The price is important. 00:26:19.000 --> 00:26:29.000 And part of the reason why it's important is because Bitcoin is a mathematically scarce asset. 00:26:29.000 --> 00:26:41.000 And as it becomes more and more scarce and more distributed into the hands of more people across the earth, the value of it is going to go up in a fairly predictable fashion. 00:26:42.000 --> 00:26:49.000 And so that's hard for a lot of people who just want to get rich really quick off of Bitcoin to wait for that. 00:26:49.000 --> 00:27:03.000 And so what I see happening is people are trying to force every single feature possible onto Bitcoin before waiting 10, 15 years for Bitcoin to be much, much more valuable. 00:27:03.000 --> 00:27:07.000 And that's a completely understandable human impulse. 00:27:07.000 --> 00:27:16.000 But I find it very annoying just personally knowing everything, the history of what's happened so far in Bitcoin, because it's kind of been. 00:27:16.000 --> 00:27:19.000 Yeah, it's been done over and over again. 00:27:19.000 --> 00:27:32.000 It's like when you've been in it for a while and you've bought into cloud mining or, you know, you watched NFTs become ordinals and whatever, like one thing after another. 00:27:32.000 --> 00:27:40.000 It's like, yeah, you just see everything is a scam and you just want the newcomers to understand that everything is a scam. 00:27:40.000 --> 00:27:42.000 And yet they just seem to not understand it. 00:27:42.000 --> 00:27:52.000 And so it's like Groundhog Day where we just keep experiencing this over and over and over again because everybody is greedy and everybody wants to get rich quick. 00:27:52.000 --> 00:27:55.000 That's pretty much all I have to say about it. 00:27:55.000 --> 00:27:57.000 I just find the whole thing so annoying. 00:27:57.000 --> 00:27:58.000 I wish it didn't exist. 00:27:58.000 --> 00:28:00.000 And it's a little bit out of our control. 00:28:00.000 --> 00:28:05.000 So at this point, I'm just kind of watching it happen, kind of knowing what's going to happen. 00:28:05.000 --> 00:28:06.000 Yeah, I love. 00:28:06.000 --> 00:28:07.000 Yeah. 00:28:07.000 --> 00:28:10.000 I was just gonna say I'm not existentially scared for Bitcoin. 00:28:10.000 --> 00:28:11.000 Right. Yeah. 00:28:11.000 --> 00:28:12.000 Yeah. 00:28:12.000 --> 00:28:16.000 I love that you brought that up because that's in many ways. 00:28:16.000 --> 00:28:18.000 That's kind of how I'm thinking about it, too. 00:28:18.000 --> 00:28:36.000 Which is to say when you think about these things on a long time frames and people coming into the space, I'm hesitant to say or hesitant to know if they get this yet. 00:28:36.000 --> 00:28:38.000 But it's the exact same thing you're referencing, Anton. 00:28:38.000 --> 00:28:40.000 Like, I've been scammed. 00:28:40.000 --> 00:28:41.000 I've been hacked. 00:28:41.000 --> 00:28:43.000 Like, I know what that's like. 00:28:43.000 --> 00:28:45.000 And I know, oh, cool. 00:28:45.000 --> 00:28:47.000 I've touched the burnt stove. 00:28:47.000 --> 00:28:49.000 Okay. 00:28:49.000 --> 00:28:52.000 Have those guys touched the stove yet that's burning? 00:28:52.000 --> 00:28:54.000 Or have they seen anybody touch the stove that's burning? 00:28:54.000 --> 00:28:55.000 Right. 00:28:55.000 --> 00:28:56.000 I don't know. 00:28:56.000 --> 00:28:57.000 Probably not. 00:28:57.000 --> 00:29:04.000 Like, the consequences there are, like, just profound because once you touch the stove, you know, it's just it's just you're just going to get burned. 00:29:04.000 --> 00:29:06.000 And it's, like, stupid to touch the stove. 00:29:06.000 --> 00:29:09.000 There's no justifiable reason for it. 00:29:09.000 --> 00:29:20.000 And when you play that out on a long time frame because you know it's all just a scam and you know all these people are just going to touch the stove and they're all going to get scammed, well, what happens when they get scammed? 00:29:20.000 --> 00:29:27.000 They either quit or, well, they try and become the scammers, which is a thing, of course. 00:29:27.000 --> 00:29:34.000 But most of the people, most of the people are going to touch the stove and they're going to learn the lesson, which is don't touch the stove. 00:29:34.000 --> 00:29:36.000 Just, no, this isn't the way. 00:29:36.000 --> 00:29:37.000 This isn't the right thing. 00:29:38.000 --> 00:29:40.000 It's just going to blow up in your face, et cetera, et cetera, et cetera. 00:29:40.000 --> 00:29:41.000 So they're going to learn. 00:29:41.000 --> 00:30:05.000 Like, this is, I think, JD, I mentioned this in one of our texts today, which was, like, I would not be surprised if in 50 years, like, not today, definitely not today, but in a long time from now, 50 years, we start to see, like, community agreement around, oh, yeah, obviously, we should obviously reduce the block size by, like, a megabyte. 00:30:05.000 --> 00:30:15.000 Just because that'll, like, remove some of the spam or cut out some of the chaff, this, like, horrendous thing that's kind of festering, right? 00:30:15.000 --> 00:30:26.000 And, like, everybody just agrees except for the, whatever, marginal, like, 1% scammers who are, like, relegated to the sidelines anyway, right? 00:30:26.000 --> 00:30:31.000 Like, they have no voice because they've lost all their money and they can't afford to have a voice anymore. 00:30:32.000 --> 00:30:35.000 So, like, in 50 years, yeah, that's where I see it. 00:30:35.000 --> 00:30:43.000 It's, like, this issue kind of, like, in my head kind of resolves itself at that point. 00:30:43.000 --> 00:30:47.000 I think that's an interesting take, but here's my opposite side of that, though. 00:30:47.000 --> 00:30:50.000 Nothing ever resolves itself. 00:30:50.000 --> 00:30:54.000 Somebody somewhere needs to make a choice. 00:30:54.000 --> 00:31:07.000 As a perfect example, it's, like, I have a garden right now, and Mechanic made this argument in his thing, but it's, like, if you have a garden, you know, you don't just give up weeding it because you know that more weeds are going to come. 00:31:07.000 --> 00:31:09.000 Like, you have to tend it. 00:31:09.000 --> 00:31:11.000 You have to actually do it. 00:31:11.000 --> 00:31:22.000 And I think this actually goes to the argument of, like, the, you know, the Second Amendment thing about, you know, somebody, it's always the NIMBY type thing where it's, like, well, somebody else will solve that problem. 00:31:22.000 --> 00:31:23.000 Well, somebody else will solve that problem. 00:31:23.000 --> 00:31:24.000 Well, somebody else will solve that problem. 00:31:24.000 --> 00:31:32.000 And I think the problem we have in our current world is we're too removed from violence. 00:31:33.000 --> 00:31:43.000 I do think that in the medieval world when people were literally just, like, mauled constantly in these, like, really violent conflicts. 00:31:43.000 --> 00:31:44.000 Constantly in duels. 00:31:44.000 --> 00:31:46.000 I challenge you to a duel. 00:31:46.000 --> 00:31:47.000 Yeah, right. 00:31:47.000 --> 00:32:06.000 Like, it forced you to, one, be really good at a skill, like shooting a gun, or, two, be really cunning and good and, you know, apt at your articulation, which is part of why we're doing this, right, so we can get better at it. 00:32:06.000 --> 00:32:22.000 But where I'm going with this is one degree off, you know, if I'm trying to go to Australia and I start in Los Angeles and I just basically set the direction this should get me straight to Australia. 00:32:22.000 --> 00:32:30.000 But if I'm one degree off and I don't touch the rudder the entire time, I will probably end up in Antarctica. 00:32:30.000 --> 00:32:33.000 Or if I'm one degree off, I will end up in Japan. 00:32:33.000 --> 00:32:44.000 And so the issue with this is the necessity, because I will call it necessity, of a discussion around the greater endpoint. 00:32:45.000 --> 00:32:51.000 Because if we do get the endpoint wrong, we risk ending up nowhere. 00:32:51.000 --> 00:33:10.000 And that would actually be worse in my mind for Bitcoin, which is, like, I would venture to say what Luke and what Jason and what Mechanic are all kind of saying is that if Bitcoin becomes not money and just becomes a database, 50 years from now it will be worthless. 00:33:10.000 --> 00:33:12.000 It will be worthless. 00:33:12.000 --> 00:33:14.000 Because again, it's going to be a MySpace. 00:33:14.000 --> 00:33:17.000 Or another good example for people right now is Six Flags, right? 00:33:17.000 --> 00:33:19.000 Like, why is nobody going to Six Flags? 00:33:19.000 --> 00:33:22.000 Because they have a shitty story. 00:33:22.000 --> 00:33:23.000 That's it. 00:33:23.000 --> 00:33:24.000 That's the brass tacks. 00:33:24.000 --> 00:33:29.000 Fundamentally, Six Flags and Disneyland are the same place. 00:33:29.000 --> 00:33:30.000 They are the same place. 00:33:30.000 --> 00:33:33.000 They are a place you go to ride a ride. 00:33:33.000 --> 00:33:38.000 However, Disney has done a great job at crafting the story. 00:33:38.000 --> 00:33:43.000 Like, I went actually on the website for Six Flags today because I was talking to someone else about this. 00:33:43.000 --> 00:33:45.000 And I was reading their mission statement. 00:33:45.000 --> 00:33:48.000 Go online and read the mission statement for Six Flags. 00:33:48.000 --> 00:33:53.000 You can read that entire mission statement and not feel a thing. 00:33:53.000 --> 00:33:54.000 Not feel a thing. 00:33:54.000 --> 00:33:57.000 Because, like, volunteerism and all these big buzzwords, right? 00:33:57.000 --> 00:34:02.000 It's like this was literally written by a committee in a room that was ticking a bunch of boxes. 00:34:02.000 --> 00:34:04.000 But what's Disneyland? 00:34:04.000 --> 00:34:07.000 We are the happiest place on Earth. 00:34:07.000 --> 00:34:09.000 Yep. 00:34:09.000 --> 00:34:11.000 I don't know about you, but I want to go there. 00:34:11.000 --> 00:34:14.000 I want to go there more than I want to care about volunteers who do whatever. 00:34:14.000 --> 00:34:21.000 So I actually have an interesting take on putting story as the most important thing. 00:34:21.000 --> 00:34:24.000 Like, the story is king idea for this. 00:34:24.000 --> 00:34:30.000 And that is story is king, like, with regard to film. 00:34:30.000 --> 00:34:31.000 Like, absolutely. 00:34:31.000 --> 00:34:34.000 You don't have a film without a story. 00:34:34.000 --> 00:34:37.000 J.D., you probably take that even further, and you'd probably say something like, 00:34:37.000 --> 00:34:40.000 you don't have a business unless you have a story, right? 00:34:40.000 --> 00:34:45.000 Like, you don't have a, like, in its extremes, you might even say something like, 00:34:45.000 --> 00:34:48.000 you don't have a family if you don't have a story, right? 00:34:48.000 --> 00:34:50.000 Because, oh, we're not on the same page. 00:34:50.000 --> 00:34:55.000 We're, like, no mission, no, like, connected, no shared values. 00:34:55.000 --> 00:34:56.000 The vision of the people perished. 00:34:56.000 --> 00:34:57.000 Proverbs. 00:34:57.000 --> 00:34:58.000 Exactly, yeah. 00:34:58.000 --> 00:35:02.000 So is that the case with Bitcoin? 00:35:02.000 --> 00:35:10.000 Now, this is a very strange question because, again, getting back to the telos thing, 00:35:10.000 --> 00:35:11.000 what is Bitcoin? 00:35:11.000 --> 00:35:12.000 Like, what are we doing here? 00:35:12.000 --> 00:35:13.000 Like, what's the whole thing? 00:35:13.000 --> 00:35:14.000 Like, how does this blah, blah, blah? 00:35:14.000 --> 00:35:15.000 It just goes on and on and on. 00:35:15.000 --> 00:35:22.000 Now, I might argue that it's not about this. 00:35:22.000 --> 00:35:24.000 Like, no, no, no, you're right. 00:35:24.000 --> 00:35:25.000 It is about the story. 00:35:25.000 --> 00:35:26.000 Story is king. 00:35:26.000 --> 00:35:29.000 But the story, there's two stories with regard to money. 00:35:29.000 --> 00:35:31.000 There's always going to be two stories with regard to money. 00:35:31.000 --> 00:35:33.000 Like, with a business, there's the one story. 00:35:33.000 --> 00:35:34.000 Hey, what do we exist to do? 00:35:34.000 --> 00:35:36.000 We're here to be the happiest place on earth. 00:35:36.000 --> 00:35:37.000 That's the story. 00:35:37.000 --> 00:35:38.000 Bam. 00:35:38.000 --> 00:35:39.000 Okay, cool. 00:35:39.000 --> 00:35:46.000 With money itself, you have to process, like, you could have, think about it like this. 00:35:46.000 --> 00:35:48.000 Gold. 00:35:48.000 --> 00:35:57.000 Our story is to, like, human civilization and flourishing and all this, like, all of human civilization was built on us. 00:35:57.000 --> 00:36:10.000 And, you know, you could probably spend a few hours and come up with the absolute mind-bogglingly best tagline for gold that completely explains the story of gold, right? 00:36:10.000 --> 00:36:15.000 And you could do that very well and nail it and just, this is gold, this is what it does. 00:36:15.000 --> 00:36:17.000 Like, come on, everybody, get on board. 00:36:17.000 --> 00:36:28.000 But there's a problem because the practical technicality of gold, using it physically, like, as gold, like, invalidates the story. 00:36:28.000 --> 00:36:36.000 Like, the story for gold is not something you put on top that you can try and build towards, right? 00:36:36.000 --> 00:36:41.000 Like, with Disneyland, yeah, half the park was shut down because it was under construction, right? 00:36:41.000 --> 00:36:43.000 That's not the happiest place on earth. 00:36:44.000 --> 00:36:49.000 But when the stuff comes back online, it's going to be awesome, and you're going to know because you're going to go, right? 00:36:49.000 --> 00:36:51.000 Like, it's a whole, like, a whole thing. 00:36:51.000 --> 00:36:53.000 But with gold, you can't do that. 00:36:53.000 --> 00:36:57.000 With Bitcoin, it's the exact same. 00:36:57.000 --> 00:37:10.000 So the story of Bitcoin, and this, I think this applies to, maybe, and this is all theoretical flying off the top of my head, maybe this applies to all technological innovation. 00:37:10.000 --> 00:37:15.000 Because you can have the story that says this is the thing that's going to solve all your problems, right, or whatever it is. 00:37:15.000 --> 00:37:24.000 The Theranos, Thanos, Thanos, we're going to solve cancer, and it's all a total scam. 00:37:24.000 --> 00:37:31.000 Okay, so with Bitcoin, it's, like, here's the question. 00:37:31.000 --> 00:37:34.000 How far can you push where the story doesn't matter? 00:37:34.000 --> 00:37:37.000 Because the technology is the thing that actually matters. 00:37:37.000 --> 00:37:40.000 Because when you use Bitcoin, it's a better money than gold. 00:37:40.000 --> 00:37:44.000 It's a better money than USD, and here's the technical reasons. 00:37:44.000 --> 00:37:45.000 It goes faster. 00:37:45.000 --> 00:37:47.000 It's more secure. 00:37:47.000 --> 00:37:50.000 It is, like, far more easier to defend. 00:37:50.000 --> 00:38:00.000 It has, like, all these qualities that might not make it into the story, that might not make it into the culture, that might not, like, somebody might not internalize those and just think you can do wizard dick pics or whatever. 00:38:00.000 --> 00:38:06.000 But, like, this is the fundamental value over here and the story that you can use with that. 00:38:06.000 --> 00:38:16.000 The guy holding Bitcoin in his head and crossing a border is a way, like, you can't just write a story like that, right? 00:38:16.000 --> 00:38:19.000 That's a fundamental nature of the protocol. 00:38:19.000 --> 00:38:22.000 These are the qualities of Bitcoin itself. 00:38:23.000 --> 00:38:49.000 You hit me with the one thing that, like, so here's the one side of the Bitcoin argument in the story sense that I would say Jameson and those guys are getting correct, which is Bitcoin is unassailable property rights for everyone. 00:38:49.000 --> 00:38:53.000 And, like, the thing that I had in my mind was with no barrier of entry, right? 00:38:53.000 --> 00:38:55.000 You're at a very little barrier of entry. 00:38:55.000 --> 00:38:57.000 You get a phone also. 00:38:57.000 --> 00:39:07.000 But yeah, the thing that I had in my head, though, was Bitcoin is the monetary network for the digital age that makes the world smaller. 00:39:07.000 --> 00:39:08.000 And I hate all the words in there. 00:39:08.000 --> 00:39:11.000 Like, it needs to be something grippier than that. 00:39:11.000 --> 00:39:12.000 But it's like this is a brainstorm. 00:39:12.000 --> 00:39:13.000 We got to get this out there. 00:39:13.000 --> 00:39:23.000 But it needs to be one of those things where the point of this is the story needs to be so compelling that people are like forever. 00:39:23.000 --> 00:39:24.000 I want to work on that. 00:39:24.000 --> 00:39:30.000 Like, I can say words like Apple and you think about Apple and like, what does Apple conjure up in your mind? 00:39:30.000 --> 00:39:31.000 Secrecy. 00:39:31.000 --> 00:39:35.000 It conjures up an insane attention to detail, right? 00:39:35.000 --> 00:39:36.000 All of the lore. 00:39:36.000 --> 00:39:42.000 Like, this is literally why I started Cyberpunk Cinema, was building Bitcoin lore. 00:39:42.000 --> 00:39:43.000 And I think this is where we are. 00:39:43.000 --> 00:39:54.000 I think, honestly, what this watershed moment is, is a kind of the canary in the coal mine being like, we need to build this lore or Bitcoin will fail because it will be co-opted by someone. 00:39:54.000 --> 00:39:56.000 And so I'm curious for take, Anson. 00:39:56.000 --> 00:40:02.000 Yeah, the story is incredibly important with Bitcoin. 00:40:02.000 --> 00:40:13.000 In fact, I would venture to say that without the lore of Satoshi, I don't know if Bitcoin would be where it is. 00:40:13.000 --> 00:40:16.000 There's a lot to that. 00:40:16.000 --> 00:40:21.000 And I was just looking in the white paper and I looked up, I did a search for the word trust. 00:40:21.000 --> 00:40:24.000 And the word trust is in the white paper 14 times. 00:40:25.000 --> 00:40:33.000 And if you think about the idea of betrayal, like every soap opera is about a betrayal. 00:40:33.000 --> 00:40:48.000 And so story is kind of built into the, I can't even say it without saying the story of Bitcoin, because the development of it and the history so far has been full of drama. 00:40:48.000 --> 00:40:51.000 The thing that made me look it up was I was trying to figure out where this quote came from. 00:40:51.000 --> 00:40:53.000 It's from the P2P Foundation. 00:40:53.000 --> 00:40:55.000 So this isn't from the Bitcoin talk forum. 00:40:55.000 --> 00:40:59.000 So I'm not sure where Satoshi wrote this, but it was written on February 11, 2009. 00:40:59.000 --> 00:41:04.000 He said the root problem with conventional currency is all the trust that's required to make it work. 00:41:04.000 --> 00:41:12.000 The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. 00:41:12.000 --> 00:41:23.000 So Satoshi's own story about Bitcoin is about the betrayal by central banks of our trust. 00:41:23.000 --> 00:41:28.000 And so Bitcoin is a solution to betrayal. 00:41:28.000 --> 00:41:31.000 And so story is built into Bitcoin. 00:41:32.000 --> 00:41:46.000 And yeah, it's just easy to forget all of that and to just take for granted that Bitcoin is here now and not feel a loyalty to what Bitcoin actually is. 00:41:46.000 --> 00:41:51.000 And that's when we become the betrayers. 00:41:51.000 --> 00:41:55.000 And that's very possible because our hearts are so greedy. 00:41:55.000 --> 00:42:04.000 And it's why Bitcoin is so beautiful, because Bitcoin is just math and it's code and it's hardwired. 00:42:04.000 --> 00:42:16.000 And as much as we want to betray it because we are these greedy, sinful creatures that want it all for ourselves and want to get rich quick and just want to have more than other people. 00:42:16.000 --> 00:42:19.000 Bitcoin doesn't allow us to do it. 00:42:19.000 --> 00:42:24.000 It's like every time somebody tries to spam the Bitcoin network, all of a sudden the fees go up. 00:42:24.000 --> 00:42:31.000 And every time somebody tries to pull money out because the price has gone up, then the price goes up and they lose. 00:42:31.000 --> 00:42:39.000 You know, it's like everything you do to try to fight and trick Bitcoin, Bitcoin naturally has a built in code to fight against that. 00:42:39.000 --> 00:42:42.000 And that's part of the thing that's so beautiful about it. 00:42:43.000 --> 00:42:50.000 And in fact, that kind of wants me to or causes me to jump into how does how does this get better? 00:42:50.000 --> 00:42:52.000 How did like where does this get better? 00:42:52.000 --> 00:42:57.000 Like, you know, like what are we doing about this that makes it better? 00:42:57.000 --> 00:42:59.000 How does Bitcoin make this better? 00:42:59.000 --> 00:43:10.000 And I think that that is such a fantastic point because, bro, we were 100 percent betrayed for like 100 years by central banks. 00:43:10.000 --> 00:43:13.000 From day one, we were betrayed. 00:43:13.000 --> 00:43:18.000 And because of Bitcoin, we we no longer have to suffer that betrayal. 00:43:18.000 --> 00:43:20.000 We no longer have to participate. 00:43:20.000 --> 00:43:22.000 We no longer have to suffer inflation. 00:43:22.000 --> 00:43:30.000 Like, bro, like and you want to do fucking wizard dick pics like, dude, grow up. 00:43:30.000 --> 00:43:31.000 Come on. 00:43:35.000 --> 00:43:36.000 I think it gets better. 00:43:36.000 --> 00:43:45.000 And I think what's interesting in that is like you conjured up the image of, you know, Jekyll Island and the monetary debacle that we're in. 00:43:45.000 --> 00:43:49.000 Right, because that was a betrayal of all people by the bankers. 00:43:49.000 --> 00:44:05.000 Right. The central bankers knew that they could take over the monetary system from the Austrians and make it a fully Keynesian style economic system that was inflationary, that they could control with monetary levers with Jekyll Island. 00:44:05.000 --> 00:44:08.000 And they just slowly swung all the votes to to do that. 00:44:09.000 --> 00:44:18.000 And I would say what's interesting about this whole story debate, though, is, you know, I think there is a corollary to be made that. 00:44:19.000 --> 00:44:47.000 You know, shoving a bunch of stuff into a return is essentially akin to essentially akin to a form of inflation, and it's akin to a form of coin clipping, because if you're looking at it as a monetary network, you are limiting somebody's ability to get a transaction in a block and you are limiting somebody's ability to to do the monetary facilitation. 00:44:48.000 --> 00:44:57.000 Of what Bitcoin is. And so, you know, I do think Luke's term is inflammatory intentionally of like you are raping my node. 00:44:58.000 --> 00:45:03.000 But I don't think he's wrong for that reason, because at the end of the day, it's like I am trying to. 00:45:04.000 --> 00:45:12.000 Facilitate the monetary exchange or store of value in the digital age to make the world smaller and better. 00:45:13.000 --> 00:45:18.000 And if you are doing that against my will because you're exploiting a technical. 00:45:19.000 --> 00:45:25.000 You know, it's a technical flaw, essentially, in the code, which, again, is like it's valid. 00:45:25.000 --> 00:45:30.000 Right. I'm not saying it's invalid, but it's incongruous with the story he believes. 00:45:30.000 --> 00:45:34.000 And I think that's the key here is like what comes out of the story you believe. 00:45:34.000 --> 00:45:37.000 Is it a big is it a is it a database? 00:45:39.000 --> 00:45:45.000 Or is it a money landing the plan on that is it gets better because we're having this discussion. 00:45:45.000 --> 00:45:50.000 I do think clarity from this discussion will set things up. 00:45:50.000 --> 00:45:53.000 And I'm hoping for the better for the next thousand years. 00:45:55.000 --> 00:46:09.000 I have never thought about about trying to increase the block size or trying to make transactions faster or trying to make fees cheaper as a form of inflation, a form of coin clipping. 00:46:09.000 --> 00:46:11.000 And it's a really good analogy. 00:46:12.000 --> 00:46:13.000 I mean, think about it. 00:46:15.000 --> 00:46:20.000 It's like we think, oh, you know, hard drives just get cheaper and cheaper and just get bigger and bigger. 00:46:20.000 --> 00:46:28.000 Why not just make the block chain bigger and bigger, make the the fees lower, make transactions faster? 00:46:28.000 --> 00:46:33.000 And we can. But that literally means you have to pay more for hard drives. 00:46:33.000 --> 00:46:36.000 You have to update your node. 00:46:36.000 --> 00:46:38.000 And I'm speaking as somebody who's completely non-technical about this. 00:46:38.000 --> 00:46:40.000 So fill me in if I say something wrong. 00:46:40.000 --> 00:46:51.000 But I'm thinking right now about, like, the continent of Africa and how hard it would be to get the components to build a node in some of those places. 00:46:51.000 --> 00:46:54.000 And you want nodes. You want as many nodes as possible. 00:46:54.000 --> 00:46:56.000 You want to be everywhere. 00:46:56.000 --> 00:47:06.000 Why are we causing inflation on the on the cost of running a node when it's unnecessary to do so? 00:47:06.000 --> 00:47:14.000 We were so we've been so brainwashed by inflation that we literally think we have to create it ourselves. 00:47:14.000 --> 00:47:20.000 And now we have Bitcoin where you have deflation, where the value actually increases over time. 00:47:20.000 --> 00:47:22.000 And here we are trying to cause inflation. 00:47:22.000 --> 00:47:28.000 It's like we've been Stockholm syndrome into thinking we just have to have inflation when we don't anymore. 00:47:29.000 --> 00:47:35.000 One hundred percent. And that really touches, I think, so much of this particular debate. 00:47:35.000 --> 00:47:39.000 Like there are so many. JD, I mentioned this in some of the text messages. 00:47:39.000 --> 00:47:45.000 It was like, wait a second. Like this idea is like super high time preference. 00:47:45.000 --> 00:47:48.000 Like it's the end of the world, bro. That is so high time preference. 00:47:48.000 --> 00:47:54.000 Like there's going to there's going to be some time between now and then it's not 100 percent right now. 00:47:55.000 --> 00:48:03.000 Right. Like other other things about it, just like very high time preference, like this, this like black and white nature to it. 00:48:03.000 --> 00:48:05.000 It's like, well, that's that's really high time preference, too. 00:48:05.000 --> 00:48:08.000 What if what if there is like she's a great here? 00:48:08.000 --> 00:48:13.000 Like what if like, hey, how how do all of these things come about? 00:48:13.000 --> 00:48:20.000 But no, we're trained in this this mindset of like this ultra you versus me. 00:48:20.000 --> 00:48:25.000 We have to fight. We have to like one of us, like one of us has to die. 00:48:25.000 --> 00:48:27.000 Like it's just that's what we're that's what it has to be. 00:48:27.000 --> 00:48:35.000 It has to like there's no world where you and me can possibly exist because literally we're a trained Stockholm syndrome. 00:48:35.000 --> 00:48:46.000 We're trained by inflation to believe these absurd things about everybody who's around us, that they exist to to suck value out of our lives. 00:48:47.000 --> 00:48:54.000 Because everything we've all only ever known is that, well, when I get a job, they're going to suck value out of my life. 00:48:54.000 --> 00:48:57.000 When I get married, it's just my marriage is going to suck value out of my life. 00:48:57.000 --> 00:48:59.000 When I have kids, they're just going to suck value. 00:48:59.000 --> 00:49:01.000 I'm like everything. Everything just sucks. 00:49:01.000 --> 00:49:05.000 But there's no such thing. And it's all because of inflation. 00:49:05.000 --> 00:49:12.000 And we're just so wrapped up in it and it cuts on every single like it cuts in ways like I don't even know how it cuts me. 00:49:12.000 --> 00:49:15.000 Like I toss all the time. That's probably because of inflation. Right. 00:49:15.000 --> 00:49:20.000 Like like there's all sorts of stuff just goes. It just goes so many places. 00:49:20.000 --> 00:49:24.000 And we're on generation like four of this. Right. 00:49:24.000 --> 00:49:30.000 It's it's inflation affected my dad and I learned from my dad. 00:49:30.000 --> 00:49:35.000 Inflation affected my affected my grandpa and my dad learned from my grandpa and I learned from my dad. 00:49:35.000 --> 00:49:39.000 It's just like it just goes on. It's mind boggling. Total Stockholm. 00:49:40.000 --> 00:49:47.000 I will. One thing I will say, though, for me personally, is I do actually think it needs to be black and white, though. 00:49:47.000 --> 00:49:52.000 And the reason I say that, though, is because it's like, you know, and I say this not in a derogatory sense, 00:49:52.000 --> 00:49:57.000 but just look at African-American culture in the United States. 00:49:57.000 --> 00:50:01.000 It's really degraded from, you know, again, like people go back. 00:50:01.000 --> 00:50:08.000 Oh, you're in a slavery. I understand they're like, you know, complications with how African-American culture came to America. 00:50:08.000 --> 00:50:16.000 Right. So let's let's start there. But the binary of making abortion. 00:50:16.000 --> 00:50:24.000 Legal, but not just legal, but like a non sequitur, like a societal non sequitur of like, oh, it doesn't really matter kind of thing. 00:50:24.000 --> 00:50:27.000 It's like like just like like it's just like it doesn't matter. 00:50:27.000 --> 00:50:35.000 And then some of the things are sitting down with the marriage debate. I mean, it doesn't matter like that is a degradation of the foundation you're standing on, 00:50:35.000 --> 00:50:43.000 which comes back to the whole thing of like we do need to get this thing right in terms of the story, the foundation we're building on. 00:50:43.000 --> 00:50:52.000 Like, I do believe it needs to be. Is it a monetary medium of exchange and store of value or is it something else? 00:50:52.000 --> 00:51:01.000 Because I do things not. Airtight and binary, it's got to be black or white. 00:51:01.000 --> 00:51:10.000 We're going to get to that one percent drift that 50 years from now, we're going to end up in Japan when we want to go to Australia. 00:51:10.000 --> 00:51:13.000 There's a I don't know what song this is. I was trying to find this. 00:51:13.000 --> 00:51:18.000 I was trying to use grok the other day. So maybe if somebody hears this, they can tell me what this is from. 00:51:18.000 --> 00:51:21.000 There's this rap song. It's probably late 90s or early 2000s. 00:51:21.000 --> 00:51:25.000 And you know how sometimes at the beginning of a rap song, they're just shouting stuff out. 00:51:26.000 --> 00:51:36.000 They're not rapping yet. They're just like talking. And in this song, they say we be spending it how we get it, meaning we get it fast and we spend it fast. 00:51:36.000 --> 00:51:44.000 And that's how people have been living. That's the negative of the culture of, you know, things are going to be more expensive later. 00:51:44.000 --> 00:51:52.000 So if you have any money, you just need to find something to spend it on now, which is so high time preference. 00:51:52.000 --> 00:52:06.000 And and Bond or you brought up your dad. Boomers are are so just as a generation are so bad in the sense that they all plan. 00:52:06.000 --> 00:52:12.000 They plan on having a retirement and spending every last penny to zero before they die. 00:52:12.000 --> 00:52:19.000 Not thinking like in the Bible, there's a proverb that says a good man leaves an inheritance to his children's children. 00:52:20.000 --> 00:52:30.000 And for the boomers, they were that they were that generation after 1971, when when inflation really kicked off and they just watch things getting more and more expensive. 00:52:30.000 --> 00:52:37.000 And so they were like, OK, I can invest my money in the S&P and I will get a return that beats inflation. 00:52:37.000 --> 00:52:45.000 But then I'll have this time period. I'll have 20 years or whatever from the time that I retire to the time that I die and things are going to keep getting more expensive. 00:52:45.000 --> 00:52:50.000 And so the longer I live, the less time I have to spend this money. 00:52:50.000 --> 00:52:57.000 And so I just need to make sure that the money lasts until the day I die and I'm not leaving anything to my kids. 00:52:57.000 --> 00:53:02.000 You you just broke my brain with a thought that I've never had before. 00:53:02.000 --> 00:53:08.000 But the current stock market as it exists would not exist without inflation. 00:53:09.000 --> 00:53:16.000 Period. Oh, yeah, that's like for you can actually like plot that out and like go through the whole like it's it's a whole thing. 00:53:16.000 --> 00:53:20.000 All like you plot M zero divided by the stock market. 00:53:20.000 --> 00:53:23.000 And it's like it's basically just a flat line. 00:53:23.000 --> 00:53:29.000 It's incredible because what's interesting about that thought, though, I never thought of that before. 00:53:29.000 --> 00:53:35.000 It was like the stock market has essentially lulled people into a false sense of growth. 00:53:35.000 --> 00:53:40.000 It's made people lazy because the thing is like, you know, it's the story of the talents. 00:53:40.000 --> 00:53:49.000 Right. The parable of talents is essentially the stock market has made everybody the guy with the one talent as they buried it in the ground. 00:53:49.000 --> 00:53:55.000 And the stock market is the ground. And you're not actually being a good and faithful servant. 00:53:56.000 --> 00:54:07.000 You're literally just being a miserly person that thinks that I can just kind of skate titled. 00:54:07.000 --> 00:54:12.000 Yeah, I'm entitled to these returns like it's bonkers. 00:54:12.000 --> 00:54:21.000 OK, so. One thing we got to always got to bring it back to, which is how does Bitcoin make this better? 00:54:21.000 --> 00:54:26.000 And like for me, it's it's just so painfully obvious. 00:54:26.000 --> 00:54:31.000 How does Bitcoin make this better? It literally invalidates and inverses all of this. 00:54:31.000 --> 00:54:37.000 It basically just says, bro, you can't like the inflation thing is garbage. 00:54:37.000 --> 00:54:48.000 You can't just rely on that. You literally have to build and you have to sow and reap and and participate and and like create value for other people. 00:54:48.000 --> 00:54:55.000 And like, whoa, this is like we're talking about big, big changes to the whole to the whole thing. 00:54:55.000 --> 00:55:02.000 And, you know, I mean. Oh, yeah, it's good, but. 00:55:02.000 --> 00:55:13.000 Yeah, otherwise it's like, yeah, put your money in the in the S&P and give your money over to Raytheon or to Coca-Cola or to Pfizer. 00:55:13.000 --> 00:55:22.000 Let them make a profit so you can have some of it. Whereas for Bitcoin, it's like, no, I'm not going to participate in inflation at all. 00:55:22.000 --> 00:55:28.000 And then I'm going to go create value through my own ingenuity and effort. 00:55:28.000 --> 00:55:41.000 And then I'm going to live off of that value that I create and continue to invest in Bitcoin to take to take my value out of the NPC inflation economy forever. 00:55:41.000 --> 00:55:46.000 I'm not going to let them use it anymore. And I'm going to have a low time preference. 00:55:46.000 --> 00:55:51.000 And I'm going to invest in the things that are truly valuable in life. 00:55:51.000 --> 00:55:55.000 Yeah. Thank God for Bitcoin for that. Yeah. 00:55:55.000 --> 00:56:02.000 Bitcoin promotes scare rather Bitcoin embodies scarcity. 00:56:02.000 --> 00:56:07.000 Scarcity promotes stewardship and stewardship drives value. 00:56:07.000 --> 00:56:17.000 That's why this gets better is if Bitcoin can be the foundation of the exchange layer, i.e. the monetary layer, because that's what we do exchange. 00:56:17.000 --> 00:56:24.000 Right. That's what we exchange. You know, we devised money as we could exchange over a longer low time preference time horizon. 00:56:24.000 --> 00:56:31.000 I don't have to sell my apples immediately. I can give you this money and then I'll come back later and buy your pie or whatever it is. 00:56:31.000 --> 00:56:40.000 And so if Bitcoin can become the monetary exchange layer for the digital age, that. 00:56:40.000 --> 00:56:54.000 Understanding of scarcity will drive a mentality of stewardship because you're going to have to think about your money differently and because you're thinking about it differently, it's going to drive you to add value and be a good steward and make things better. 00:56:54.000 --> 00:57:03.000 Yep. And that for me, that directly ties back into the whole nature of this debate, why we got on this pod in the first place. Right. 00:57:03.000 --> 00:57:15.000 Which was do we have the wizard dick pics like who's who's adding like how is that adding value to anybody on Earth, literally anyone on Earth? 00:57:15.000 --> 00:57:22.000 And the answer is, well, it's only the ultra degenerate high time preference losers who suck at life anyway. 00:57:22.000 --> 00:57:31.000 Like. Bro, just stop, just stop it, Michael Jackson, stop, get some help, right? 00:57:31.000 --> 00:57:40.000 Like. Now that's to be distinguished from the technical debate, but we can allow for nuance here. 00:57:41.000 --> 00:57:51.000 And also. Bro, Bitcoin is going to alter the culture. Bitcoin is going to whether you like it or not, it's going to alter the culture. 00:57:51.000 --> 00:58:04.000 It's going to alter how people value. Their participation in reality, we're going to do the wizard pics, wizard dick pics, or I'm going to like, I don't know, be a good father. 00:58:04.000 --> 00:58:13.000 What's your dick pics father? What's it going to be, guys? In a Bitcoin nominated world, I'm going to go out on a limb here. 00:58:13.000 --> 00:58:18.000 It's going to be father every time, you know, in a Fiat denominated world, it's going to be dick pics. 00:58:18.000 --> 00:58:25.000 Most of the time you get some exceptions, but most of the time dick pics. And so you really like this. 00:58:25.000 --> 00:58:29.000 This is why I'm kind of like on the bringing it back with the debate. 00:58:29.000 --> 00:58:44.000 I'm like. On the long time frames, bro, this Bitcoin just destroys this Fiat mentality, as long as we can protect the 21 million hard cap. 00:58:45.000 --> 00:58:50.000 And continue adoption, which I don't think any of those things are really at play here. 00:58:50.000 --> 00:58:58.000 Yes, node operation also stuff like comes into play, but like. I think that they come into play. 00:58:59.000 --> 00:59:03.000 Like it's going to be difficult to run a node way. 00:59:04.000 --> 00:59:13.000 Way further out in the future because of this, then the culture changes, the culture changes, I think is going to be way sooner. 00:59:13.000 --> 00:59:32.000 Right. We're going to see like because because I know this because of my own life, the things I was into, the things that I thought were funny, the things that I thought were cool, like the music I listen to, like all of the movies I watch, like everything about my life is essentially changed because of Bitcoin in a way that is low time preference. 00:59:33.000 --> 00:59:36.000 Whoa, got to do these things that are like. 00:59:38.000 --> 00:59:51.000 Way more responsible and and because of Bitcoin, way more cool as opposed to, oh, yeah, I'm just going to smoke cigarettes and bum around 7-Eleven, which is like literally stuff I did in my 20s. 00:59:52.000 --> 00:59:54.000 Right. Like just totally different world completely. 00:59:55.000 --> 00:59:57.000 So it gets way better. 00:59:57.000 --> 01:00:09.000 One last thought on this with with what something like and this doesn't even really exist in the world. 01:00:09.000 --> 01:00:13.000 And if NFTs I'm thinking of like the gorilla face things. 01:00:14.000 --> 01:00:22.000 What that is, is trying to hustle each other and just gambling on something and playing a game of hot potato. 01:00:22.000 --> 01:00:39.000 And so rather than going out and doing the things that are valuable, you're sitting there glued to your computer, looking at your your little collectible garbage thing that you're just trying to see to make sure that it's not going down in value to try to pawn it off on the next person to get it out of your hands before it plummets in value. 01:00:40.000 --> 01:00:44.000 Which is exactly like when Jesus drove out the money changers. 01:00:45.000 --> 01:00:49.000 What the money changers were doing is they were all just trying to hustle each other with currencies and get them out of each other's hands. 01:00:50.000 --> 01:00:56.000 They were doing the exact same thing that these NFTs or ordinals or whatever the next iteration of this garbage is going to be. 01:00:57.000 --> 01:01:10.000 And Bitcoin with what I think is the the game theory of Bitcoin, it punishes you for trying to hustle people or gamble. 01:01:11.000 --> 01:01:17.000 It rewards you for being low time preference and not gambling and not trying to hustle people. 01:01:18.000 --> 01:01:19.000 It flips it all on its head. 01:01:20.000 --> 01:01:32.000 And so, yeah, that's how that's another way that Bitcoin makes you better is it gets you out of doing degenerate things and out creating value for yourself and for others. 01:01:33.000 --> 01:01:34.000 JD, any last words? 01:01:34.000 --> 01:01:35.000 I think, yeah, I agree with all that. 01:01:36.000 --> 01:01:45.000 I think it is, you know, the last take I will have is have a point, have a perspective. 01:01:46.000 --> 01:01:57.000 I actually think this is the moment where if you want it to be money, you should make it known and define money, medium exchange, whatever it is. 01:01:57.000 --> 01:02:07.000 But I think now is the time to start digging in and starting to to figure that out, because, again, there's so much potential for good with this. 01:02:08.000 --> 01:02:12.000 But you have to make a decision that you're going to do something to make things good. 01:02:13.000 --> 01:02:14.000 Good does not just happen. 01:02:15.000 --> 01:02:17.000 The world is inherently evil. 01:02:18.000 --> 01:02:21.000 And so it takes good people standing up and doing things for it to work. 01:02:22.000 --> 01:02:24.000 You have to participate. 01:02:24.000 --> 01:02:27.000 You cannot sit on the sidelines for better or worse. 01:02:28.000 --> 01:02:29.000 You've got to participate. 01:02:30.000 --> 01:02:32.000 All right, guys, this has been Better by Bitcoin. 01:02:33.000 --> 01:02:35.000 Thank you for tuning in. 01:02:36.000 --> 01:02:37.000 We'll see you next time. 01:02:38.000 --> 01:02:39.000 Peace. 01:02:55.000 --> 01:02:56.000 Thanks for tuning in to Better by Bitcoin. 01:02:57.000 --> 01:02:58.000 Bitcoin makes everything better. 01:02:59.000 --> 01:03:04.000 Like, subscribe, and follow us on X at BetterBYBTC, YouTube at BetterBYBitcoin. 01:03:05.000 --> 01:03:07.000 Not financial advice. Mathematical certainty.