WEBVTT 00:00:00.000 --> 00:00:04.280 ♪ Got a good thing coming, and it's all I need ♪ 00:00:04.280 --> 00:00:07.840 ♪ Everything I wanted ♪ 00:00:07.840 --> 00:00:09.880 All right, here we are. 00:00:09.880 --> 00:00:11.120 Welcome back to the show. 00:00:11.120 --> 00:00:12.520 We had some technical difficulties there, 00:00:12.520 --> 00:00:13.720 which we apologize for, 00:00:13.720 --> 00:00:15.560 but it looks like we're good to go now. 00:00:15.560 --> 00:00:17.719 So, welcome. 00:00:17.719 --> 00:00:19.639 We got Anton Sim and myself. 00:00:19.639 --> 00:00:20.920 I'm Bondor. 00:00:20.920 --> 00:00:23.639 I've jack of all trades, master of none. 00:00:23.639 --> 00:00:25.200 Been around Bitcoin for a while. 00:00:25.200 --> 00:00:27.920 Anton, what's your, 00:00:28.920 --> 00:00:32.720 you butchered the pronunciation of my name. 00:00:32.720 --> 00:00:35.279 I say Anton Sim, but it's all good. 00:00:36.360 --> 00:00:39.360 Yeah, I'm a filmmaker, cinematographer, Bitcoiner. 00:00:40.959 --> 00:00:41.799 Cool. 00:00:41.799 --> 00:00:45.840 So, today we wanted to talk about taxes, 00:00:45.840 --> 00:00:47.720 because they are relevant. 00:00:47.720 --> 00:00:51.540 We got tax day in America on Monday the 14th. 00:00:52.639 --> 00:00:57.639 And yeah, one of the things that really just kind of, 00:00:57.759 --> 00:01:02.759 just immediately off the bat is we had, 00:01:02.759 --> 00:01:04.080 and we've seen this a lot, obviously, 00:01:04.080 --> 00:01:07.279 because of ChatGPT and AI and everything. 00:01:07.279 --> 00:01:10.599 The immediate thing about taxes is that, 00:01:10.599 --> 00:01:11.760 as you were describing, 00:01:13.120 --> 00:01:14.760 there's all these problems and weird things 00:01:14.760 --> 00:01:15.879 about the tax code and everything else, 00:01:15.879 --> 00:01:18.959 and you just kind of have AI to be like, 00:01:18.959 --> 00:01:20.440 oh, well, what does this mean? 00:01:20.440 --> 00:01:21.559 What is the situation here? 00:01:21.559 --> 00:01:22.839 Oh, okay, here it is. 00:01:22.839 --> 00:01:25.040 You don't need any of the absurdity of it. 00:01:25.040 --> 00:01:26.599 Okay, so AI. 00:01:26.599 --> 00:01:27.879 AI affects taxes. 00:01:27.879 --> 00:01:28.720 That's interesting, that's cool. 00:01:28.720 --> 00:01:31.760 But how does Bitcoin affect taxes? 00:01:31.760 --> 00:01:35.040 How does Bitcoin, like, and we can talk big picture 00:01:35.040 --> 00:01:37.440 to granular stuff and to the whole thing. 00:01:37.440 --> 00:01:41.440 I mean, we've both got tons and tons of stories about, 00:01:41.440 --> 00:01:43.680 you know, I was a trader at some point, 00:01:43.680 --> 00:01:47.800 so I was like, oh yeah, my taxes is literally 00:01:48.760 --> 00:01:49.639 not hundreds of pages. 00:01:49.639 --> 00:01:53.239 I knew traders who had hundreds of pages of PNLs, 00:01:53.239 --> 00:01:55.400 but pages of PNL. 00:01:55.400 --> 00:01:57.080 And he was like, this is kind of interesting. 00:01:57.080 --> 00:01:59.680 We can like, somebody who really wants to do it 00:01:59.680 --> 00:02:03.360 could just DDoS the IRS on this stuff. 00:02:03.360 --> 00:02:06.040 And it just goes. 00:02:06.040 --> 00:02:07.680 So, Anton. 00:02:07.680 --> 00:02:12.440 Anton, what's your take here? 00:02:12.440 --> 00:02:13.919 Hot take. 00:02:13.919 --> 00:02:17.160 My hot take is that taxes are completely unnecessary 00:02:17.160 --> 00:02:20.080 and the IRS is 100% unnecessary 00:02:20.080 --> 00:02:24.000 and taxes only exist to punish you 00:02:24.000 --> 00:02:25.720 and keep you subservient. 00:02:26.720 --> 00:02:29.839 And even though we have a graduated income tax, 00:02:29.839 --> 00:02:31.559 first of all, nobody should have to pay tax, 00:02:31.559 --> 00:02:36.559 but anybody that has an income that's not super high 00:02:36.839 --> 00:02:38.520 absolutely shouldn't pay tax 00:02:38.520 --> 00:02:40.479 because their taxes don't do anything. 00:02:40.479 --> 00:02:42.080 I don't know what the exact stats are, 00:02:42.080 --> 00:02:45.520 but I'm pretty sure that the richest 1% 00:02:45.520 --> 00:02:47.479 pay the majority of taxes or something like that, 00:02:47.479 --> 00:02:51.119 or corporations, businesses that make a profit. 00:02:51.119 --> 00:02:53.679 The amount they pay in taxes is so much higher 00:02:54.360 --> 00:02:55.320 than what individuals pay. 00:02:55.320 --> 00:02:56.880 But if you're an individual, 00:02:56.880 --> 00:02:59.960 the pain that you experience every year 00:02:59.960 --> 00:03:04.559 paying 25, 30, 40% of your income in income taxes, 00:03:04.559 --> 00:03:06.800 money that you could be either putting in the market 00:03:06.800 --> 00:03:09.119 or deploying on things that you need, 00:03:09.119 --> 00:03:10.919 it's insanely painful. 00:03:10.919 --> 00:03:12.679 And on top of that, the other thing about it 00:03:12.679 --> 00:03:15.839 is it's incredibly time consuming 00:03:15.839 --> 00:03:18.360 because you prepare your taxes yourself. 00:03:18.360 --> 00:03:20.279 You're responsible for keeping your own books. 00:03:20.279 --> 00:03:23.479 You're responsible for reporting all of your own taxes. 00:03:24.279 --> 00:03:26.639 And it's just a gigantic waste of time. 00:03:26.639 --> 00:03:29.399 And then you were saying that with AI, 00:03:30.639 --> 00:03:33.440 that AI can basically do your taxes for you 00:03:33.440 --> 00:03:34.399 or tell you what you owe in tax. 00:03:34.399 --> 00:03:35.960 Here's the crazy thing. 00:03:35.960 --> 00:03:40.759 If you go to a CPA and you give your CPA your taxes, 00:03:40.759 --> 00:03:42.479 he's gonna give you a number that you owe. 00:03:42.479 --> 00:03:46.639 If you take your same taxes to another CPA, 00:03:46.639 --> 00:03:47.960 you'd think two professionals 00:03:47.960 --> 00:03:49.919 are gonna get the same number. 00:03:49.919 --> 00:03:52.039 No, almost never. 00:03:53.600 --> 00:03:55.080 What do you really owe in taxes 00:03:55.080 --> 00:03:58.600 if two professionals can't come up with the same number? 00:03:58.600 --> 00:03:59.839 What is the real number? 00:03:59.839 --> 00:04:01.839 Yeah, you submit it to the IRS and they're like, 00:04:01.839 --> 00:04:05.360 actually, nope, you owe a different number. 00:04:05.360 --> 00:04:06.199 Yeah. 00:04:07.559 --> 00:04:08.839 Ridiculous. 00:04:08.839 --> 00:04:10.279 What's interesting about AI though 00:04:10.279 --> 00:04:13.639 is AI is so objective that if you take your books 00:04:13.639 --> 00:04:16.000 and perfectly input it into the AI, 00:04:16.880 --> 00:04:19.519 the AI can tell you how to do your taxes 00:04:20.440 --> 00:04:22.119 if taxes are completely unfair 00:04:22.119 --> 00:04:23.239 and shouldn't exist in the first place. 00:04:24.000 --> 00:04:26.119 But let's just say for this conversation 00:04:26.119 --> 00:04:29.359 that somehow they are fair and they actually do something. 00:04:29.359 --> 00:04:32.359 If you put that same documentation into AI, 00:04:32.359 --> 00:04:34.679 it's objectively going to tell you the truth. 00:04:34.679 --> 00:04:36.799 It's gonna tell you what you actually owe. 00:04:38.119 --> 00:04:39.239 And that's where we are now. 00:04:39.239 --> 00:04:41.760 That's the world that we're existing in now. 00:04:41.760 --> 00:04:44.679 So on our side, it's great 00:04:44.679 --> 00:04:47.359 because you have this time-saving thing, 00:04:47.359 --> 00:04:50.720 the AI that can essentially do your bookkeeping for you. 00:04:51.679 --> 00:04:53.119 On the more negative side, 00:04:53.119 --> 00:04:57.119 the IRS also has the same capability 00:04:57.119 --> 00:05:01.760 of knowing exactly how much they can extort from you in taxes. 00:05:01.760 --> 00:05:04.359 So it goes both ways, unfortunately. 00:05:05.279 --> 00:05:08.640 The thing that specifically related to Bitcoin, 00:05:08.640 --> 00:05:10.559 the thing that really has me going, 00:05:10.559 --> 00:05:12.320 it's like, yes, this is it, 00:05:12.320 --> 00:05:13.880 is the idea that 00:05:16.000 --> 00:05:19.239 all of our modern economy 00:05:19.720 --> 00:05:23.600 is kind of predicated on our nation-state system 00:05:23.600 --> 00:05:26.640 where, oh, this nation has these borders 00:05:26.640 --> 00:05:28.440 and under these borders, you have these rules 00:05:28.440 --> 00:05:29.559 and you have to pay these taxes 00:05:29.559 --> 00:05:31.839 and you have to participate in this particular version 00:05:31.839 --> 00:05:34.720 of society and reality and there's that, right? 00:05:34.720 --> 00:05:39.000 So with Bitcoin, and most of that's just predicated 00:05:39.000 --> 00:05:40.440 on the fact that fiat exists 00:05:40.440 --> 00:05:42.559 and it exists in the way that it exists. 00:05:42.559 --> 00:05:47.559 So if you have a currency that is only defendable 00:05:47.720 --> 00:05:52.480 if everybody uses it at the threat of violence, 00:05:52.480 --> 00:05:54.640 if you only ever use it at the threat of violence, 00:05:54.640 --> 00:05:59.279 well, then you're gonna have great taxes 00:05:59.279 --> 00:06:01.079 because everyone's, they already know that, 00:06:01.079 --> 00:06:04.119 like, okay, well, the only reason this has money 00:06:04.119 --> 00:06:06.200 or has value anyway, the only reason it works 00:06:06.200 --> 00:06:09.760 is because, well, we have aircraft carriers, 00:06:09.760 --> 00:06:11.239 so what are we gonna do about it? 00:06:11.239 --> 00:06:15.160 But the second, the game theory 00:06:15.160 --> 00:06:19.480 and the system of money itself changes, i.e. Bitcoin, 00:06:19.480 --> 00:06:22.440 it becomes more, well, it doesn't matter 00:06:22.440 --> 00:06:23.720 how many aircraft carriers you have, 00:06:23.720 --> 00:06:25.880 you're never gonna be able to shut down Bitcoin 00:06:25.880 --> 00:06:26.720 and you're never gonna be able to, 00:06:26.720 --> 00:06:28.559 because it's information, you're never gonna be able 00:06:28.559 --> 00:06:30.359 to stop somebody from using Bitcoin 00:06:30.359 --> 00:06:32.920 or transferring Bitcoin to anywhere in the world 00:06:32.920 --> 00:06:34.679 and so you have this incredible, 00:06:34.679 --> 00:06:36.760 there's no exit tax, if you will, right? 00:06:36.760 --> 00:06:39.000 It's just, I mean, there is still, of course, 00:06:39.000 --> 00:06:41.720 because the law enforcement, the long arm of the law 00:06:41.720 --> 00:06:46.320 reaches across borders, but people will go 00:06:46.320 --> 00:06:49.119 through the legal ways to get out of it 00:06:49.119 --> 00:06:50.839 and all the incentives change. 00:06:52.160 --> 00:06:54.079 Oh, you're muted, I think. 00:06:54.079 --> 00:06:56.440 Don't tell the IRS that there's no exit tax. 00:06:56.440 --> 00:06:59.600 They absolutely think that there's an exit tax, 00:06:59.600 --> 00:07:02.720 but the reality as a Bitcoiner, 00:07:02.720 --> 00:07:05.239 especially if you have non-KYC Bitcoin, 00:07:05.239 --> 00:07:08.959 is there's no exit tax for you if you just do it. 00:07:08.959 --> 00:07:11.279 I'm not recommending that anybody do that. 00:07:11.799 --> 00:07:15.279 I'm not saying, eh, I kind of am recommending 00:07:15.279 --> 00:07:16.720 that you do that. 00:07:16.720 --> 00:07:18.200 I'm not saying break the law. 00:07:18.200 --> 00:07:20.959 I'm just saying you kind of can't help it. 00:07:20.959 --> 00:07:25.119 If you came upon your Bitcoin in some way 00:07:25.119 --> 00:07:28.100 that there's no record of you having it, 00:07:28.100 --> 00:07:30.640 which is very easy to do, let's say you paid cash for it 00:07:30.640 --> 00:07:32.079 or somebody gave it to you as a gift or whatever 00:07:32.079 --> 00:07:34.000 and it went from a hardware wallet to a hardware wallet, 00:07:34.000 --> 00:07:36.200 there's no record that you have that Bitcoin. 00:07:36.200 --> 00:07:38.679 So if you go to another country 00:07:38.679 --> 00:07:40.399 with an incredible amount of wealth, 00:07:40.440 --> 00:07:42.440 could be a million dollars, could be a billion dollars, 00:07:42.440 --> 00:07:44.440 and you spend it in that country, 00:07:44.440 --> 00:07:47.320 that country may put a sales tax or a value-added tax 00:07:47.320 --> 00:07:49.000 on the thing that you buy, 00:07:49.000 --> 00:07:52.899 but it's up to you to report that to the United States 00:07:52.899 --> 00:07:54.799 if you're a United States citizen 00:07:54.799 --> 00:07:57.040 that you took money to some other country. 00:07:57.040 --> 00:08:02.040 But the reality is that doesn't really exist anymore. 00:08:02.260 --> 00:08:06.760 It only exists if you voluntarily decide to do that. 00:08:07.640 --> 00:08:08.839 Yeah. 00:08:08.839 --> 00:08:13.839 And the consequences of that are that nation-states 00:08:14.040 --> 00:08:17.519 are gonna have a harder and harder time enforcing tax code. 00:08:17.519 --> 00:08:19.040 People are going to recognize this 00:08:19.040 --> 00:08:20.799 and there's gonna be a fork in the road 00:08:20.799 --> 00:08:24.799 where the lawmakers essentially have to say, 00:08:24.799 --> 00:08:27.519 do we wanna double down on the violence 00:08:27.519 --> 00:08:30.679 to collect the taxes or do we wanna double down 00:08:30.679 --> 00:08:35.280 on being attractive to attract more taxes? 00:08:35.280 --> 00:08:40.280 And I mean, the violence is that it's just a no-win game 00:08:40.880 --> 00:08:42.359 for everybody, right? 00:08:42.359 --> 00:08:44.960 And everybody knows it's a no-win game for everybody. 00:08:44.960 --> 00:08:47.479 So, okay, sure, there's gonna be some countries that do that 00:08:47.479 --> 00:08:50.380 but really almost everybody's gonna push on, 00:08:52.200 --> 00:08:53.760 oh, we just need to be more attractive. 00:08:53.760 --> 00:08:56.200 And the consequences there are that all the tax codes, 00:08:56.200 --> 00:08:59.799 like we are at the apex, the highest tax, 00:08:59.799 --> 00:09:02.840 I don't know what the technical, 00:09:05.320 --> 00:09:09.559 percent is gonna be, but in your bones, you're like, 00:09:09.559 --> 00:09:12.359 hmm, isn't it interesting that our founding fathers 00:09:12.359 --> 00:09:17.359 like literally shut down and like they rebelled against, 00:09:18.080 --> 00:09:20.679 they rebelled against a kingdom 00:09:20.679 --> 00:09:25.359 for the purpose of paying whatever it was, a minuscule tax. 00:09:25.359 --> 00:09:29.320 Like 3%, it was essentially a 3% tariff. 00:09:29.320 --> 00:09:33.479 Yeah, and we are sitting here paying 40% taxes 00:09:33.479 --> 00:09:36.320 in some cases on our income. 00:09:36.320 --> 00:09:38.320 It's like, bro, that's more 00:09:38.320 --> 00:09:41.479 than an order of magnitude difference. 00:09:41.479 --> 00:09:45.880 Okay, so like, what are we talking about here? 00:09:45.880 --> 00:09:47.719 Like, this is potentially, we are potentially 00:09:47.719 --> 00:09:50.659 in the most taxed regime in human history. 00:09:50.659 --> 00:09:52.559 Like, I just wouldn't be surprised if that's the case. 00:09:52.559 --> 00:09:54.559 I haven't done the research, you could ask AI, 00:09:54.559 --> 00:09:58.880 but for real, it's like, wow, this is crazy, okay? 00:09:58.880 --> 00:10:02.599 And now that exists because all of our money 00:10:02.599 --> 00:10:04.359 and all of our systems and everything 00:10:04.359 --> 00:10:05.960 are essentially just predicated on violence. 00:10:05.960 --> 00:10:07.320 And when you're predicated on violence, 00:10:07.320 --> 00:10:09.239 well, you can just push on the lever 00:10:09.239 --> 00:10:11.919 and everyone essentially has to comply 00:10:11.919 --> 00:10:14.200 because like, what are you gonna do? 00:10:14.200 --> 00:10:17.239 The money is printed and it's all about control. 00:10:17.239 --> 00:10:18.239 And if you don't have the control, 00:10:18.239 --> 00:10:19.119 then you can't print the money 00:10:19.119 --> 00:10:22.039 because it doesn't have any value in the whole thing, right? 00:10:22.039 --> 00:10:25.440 Okay, so then Bitcoin reduces the tax code. 00:10:25.440 --> 00:10:27.659 It reduces just because of the incentives. 00:10:27.659 --> 00:10:29.280 Maybe it doesn't do it directly, right? 00:10:29.280 --> 00:10:31.440 But it does it, the world economy changes 00:10:32.200 --> 00:10:34.239 as people realize there's better money, 00:10:34.239 --> 00:10:35.559 all of these systems change 00:10:36.520 --> 00:10:38.280 and the whole thing gets affected. 00:10:39.640 --> 00:10:42.799 Now, what happens next, Anton? 00:10:44.200 --> 00:10:48.280 What happens next with Bitcoin making taxes better 00:10:48.280 --> 00:10:50.479 under that paradigm, under that framework? 00:10:52.359 --> 00:10:55.679 Well, taxes have not been necessary 00:10:55.679 --> 00:11:00.679 because the government can just print infinite money. 00:11:00.880 --> 00:11:02.960 They can just create money out of thin air. 00:11:02.960 --> 00:11:04.840 And so not only are you paying taxes, 00:11:04.840 --> 00:11:07.559 you're also getting a secret tax, which is inflation. 00:11:08.640 --> 00:11:10.599 When that is not a thing anymore, 00:11:11.880 --> 00:11:13.039 and I was gonna say this too, 00:11:13.039 --> 00:11:15.919 you were saying that we're the most heavily taxed 00:11:15.919 --> 00:11:18.640 that anybody in history ever has been. 00:11:18.640 --> 00:11:19.520 It's pretty much true. 00:11:19.520 --> 00:11:22.239 And I think that the highest tax for us, 00:11:22.239 --> 00:11:23.599 we live in California, 00:11:23.599 --> 00:11:26.200 is if you make over a certain amount of money, 00:11:26.200 --> 00:11:28.400 you're getting taxed about 50% 00:11:28.400 --> 00:11:31.840 because we have a 13% state income tax. 00:11:31.840 --> 00:11:34.239 We also have sales tax. 00:11:34.239 --> 00:11:37.400 Los Angeles just voted to increase the sales tax 00:11:37.400 --> 00:11:39.840 to close to 11%. 00:11:39.840 --> 00:11:42.000 And you're also paying property tax, 00:11:42.000 --> 00:11:44.440 both on the actual property if you own a house 00:11:44.440 --> 00:11:46.000 and business property, 00:11:46.000 --> 00:11:49.640 which I pay every single year on cameras that I have financed. 00:11:50.880 --> 00:11:54.919 In the past, there has been a flat tax, 00:11:54.919 --> 00:11:56.359 which is something that we don't have. 00:11:56.359 --> 00:12:01.359 So now you're penalized if you make a good income. 00:12:02.400 --> 00:12:04.479 Whereas in the past, 00:12:04.479 --> 00:12:07.599 you weren't allowed to be a citizen, essentially, 00:12:07.599 --> 00:12:09.200 unless you paid the flat tax. 00:12:09.200 --> 00:12:10.039 I don't even know what happened. 00:12:10.039 --> 00:12:10.880 You didn't pay the flat tax, 00:12:10.880 --> 00:12:13.559 you probably went to jail or got tortured. 00:12:13.559 --> 00:12:17.640 And so it essentially incentivized people 00:12:17.640 --> 00:12:20.599 to go out and make money so they could pay the flat tax. 00:12:20.599 --> 00:12:25.599 Now, people are being incentivized not to make money. 00:12:25.599 --> 00:12:28.960 People are being incentivized to go into poverty 00:12:28.960 --> 00:12:31.479 to where they will get social programs. 00:12:31.479 --> 00:12:34.640 They're being incentivized into socialism 00:12:34.640 --> 00:12:36.760 to where you have a split in society. 00:12:36.760 --> 00:12:38.159 The people who make insane wealth 00:12:38.159 --> 00:12:39.799 are the people who don't make any wealth 00:12:39.799 --> 00:12:40.799 and never gonna make any wealth 00:12:40.799 --> 00:12:43.719 and just wanna be given a little bit of free stuff. 00:12:43.719 --> 00:12:45.960 And those are the most subjugated people 00:12:45.960 --> 00:12:47.359 that could ever exist. 00:12:47.359 --> 00:12:49.239 So with Bitcoin, all of that goes away. 00:12:49.239 --> 00:12:50.080 It's called the welfare cliff. 00:12:50.080 --> 00:12:51.640 It's crazy, yeah. 00:12:51.640 --> 00:12:54.280 Yeah, so Bitcoin makes all of that go away. 00:12:54.320 --> 00:12:57.080 And when there is a Bitcoin standard, 00:12:57.080 --> 00:13:00.840 governments are going to have to earn revenue. 00:13:01.760 --> 00:13:04.239 People can pay voluntarily. 00:13:04.239 --> 00:13:07.479 They can live where they want to live, pay taxes. 00:13:07.479 --> 00:13:09.880 And government has to be really, really responsible 00:13:09.880 --> 00:13:12.179 about how they spend those funds 00:13:12.179 --> 00:13:16.039 because people are going to be incredibly demanding 00:13:16.039 --> 00:13:17.599 of how that money's spent. 00:13:17.599 --> 00:13:19.140 Because right now you pay taxes, 00:13:19.140 --> 00:13:20.919 you don't get anything for your taxes. 00:13:20.919 --> 00:13:23.900 Those taxes go to crony politicians 00:13:24.520 --> 00:13:26.619 who then essentially just extort the money, 00:13:26.619 --> 00:13:29.260 launder it somehow through their friends, 00:13:29.260 --> 00:13:30.739 and then get paid. 00:13:30.739 --> 00:13:32.020 And that's how politicians end up 00:13:32.020 --> 00:13:35.219 with $100 million net worths. 00:13:35.219 --> 00:13:38.059 And the real money, the revenue 00:13:38.059 --> 00:13:39.619 that the government is running off of 00:13:39.619 --> 00:13:42.539 is fake printed money that's causing inflation. 00:13:42.539 --> 00:13:44.780 With Bitcoin, the fake printed money goes away, 00:13:44.780 --> 00:13:48.260 the inflation goes away, 00:13:48.260 --> 00:13:52.059 and you really have to be careful 00:13:52.059 --> 00:13:53.219 about how you spend your money 00:13:53.539 --> 00:13:55.380 because it's a finite amount of money that you're spending. 00:13:55.380 --> 00:14:00.380 Yeah, and you don't get into the absurdities of, 00:14:01.299 --> 00:14:04.219 oh, well, because there's inflation, 00:14:04.219 --> 00:14:05.700 that means all these people are losing their jobs 00:14:05.700 --> 00:14:07.340 and can't afford housing. 00:14:07.340 --> 00:14:10.900 And then, well, because we have so many homeless people, 00:14:10.900 --> 00:14:15.219 we need to now put together all these homeless programs. 00:14:15.219 --> 00:14:18.859 But because all the money's broken anyway, 00:14:20.419 --> 00:14:22.559 and all those people, it's all just a grift anyway, 00:14:22.559 --> 00:14:23.400 and they're printing money 00:14:23.400 --> 00:14:25.640 and they're just giving the billions of the money 00:14:25.640 --> 00:14:27.359 to the homeless, 00:14:29.280 --> 00:14:33.520 the people who are leading the NGOs 00:14:33.520 --> 00:14:37.559 and other non-profits for bettering the homeless. 00:14:37.559 --> 00:14:40.559 And really, what they're doing is just channeling 00:14:40.559 --> 00:14:44.520 the printed money into their private bank accounts 00:14:44.520 --> 00:14:47.440 and no homeless people are getting homes, 00:14:47.440 --> 00:14:49.359 nobody's getting jobs, 00:14:49.359 --> 00:14:54.359 and it's just systemic corruption from the top down. 00:14:54.760 --> 00:14:57.039 I'm like, oh, well, of course taxes are gonna, 00:14:57.039 --> 00:14:59.840 like taxes are just a part of the whole thing. 00:14:59.840 --> 00:15:03.960 I just read a, I'm gonna have to find it, 00:15:03.960 --> 00:15:08.640 but it's a quote from St. Augustine 00:15:08.640 --> 00:15:12.640 from his City of God, 00:15:12.640 --> 00:15:15.080 and it's awesome, it's exactly this. 00:15:15.159 --> 00:15:19.500 Without justice, what else is a kingdom but a huge robbery? 00:15:20.359 --> 00:15:21.719 Oh, if you can print money, 00:15:21.719 --> 00:15:26.359 then you don't have a just money, it's just robbery. 00:15:26.359 --> 00:15:28.200 The whole thing is just robbery. 00:15:28.200 --> 00:15:30.239 All taxes are essentially what you were saying earlier, 00:15:30.239 --> 00:15:32.119 robbery, what are we doing here, right? 00:15:32.119 --> 00:15:33.619 Like this is all absurd. 00:15:36.359 --> 00:15:40.440 Yeah, yeah, you know, where we live, 00:15:40.440 --> 00:15:44.000 there is a, essentially we used to have 00:15:44.000 --> 00:15:46.719 crazy, crazy homeless encampments. 00:15:46.719 --> 00:15:47.760 Two things about that. 00:15:47.760 --> 00:15:49.159 One. Still do, yeah. 00:15:49.159 --> 00:15:51.000 Still do, two things about that. 00:15:51.000 --> 00:15:56.000 Number one, homelessness in California is incentivized 00:15:57.960 --> 00:16:02.960 because so much money is given to fight homelessness 00:16:03.320 --> 00:16:05.440 that it's created these organizations 00:16:05.440 --> 00:16:07.159 around fighting homelessness. 00:16:07.159 --> 00:16:10.760 The more homelessness there is, the more money they get, 00:16:10.760 --> 00:16:15.000 and that money goes to a top group of people 00:16:15.000 --> 00:16:16.880 who run these programs. 00:16:16.880 --> 00:16:19.039 And so, if homelessness went away, 00:16:19.039 --> 00:16:22.000 those people lose their incredibly high income. 00:16:22.000 --> 00:16:24.679 They want homelessness, they want more homelessness, 00:16:24.679 --> 00:16:26.479 the more homelessness, the more money. 00:16:26.479 --> 00:16:28.799 Another thing that happened in our neighborhood, 00:16:28.799 --> 00:16:31.359 they built what they call tiny home villages, 00:16:31.359 --> 00:16:32.840 which are a bunch of tough sheds. 00:16:32.840 --> 00:16:34.940 They took a parking lot that used to be used 00:16:34.940 --> 00:16:37.679 for kids' little league games on a Saturday, 00:16:37.679 --> 00:16:39.460 you'd have all the families come and park there. 00:16:39.460 --> 00:16:41.099 That doesn't even exist anymore. 00:16:41.099 --> 00:16:42.440 So now they took the parking lot, 00:16:42.440 --> 00:16:44.179 they put a ton of tough sheds, 00:16:44.179 --> 00:16:46.419 they moved most of the homeless encampment 00:16:46.419 --> 00:16:48.580 into these tough sheds, 00:16:48.580 --> 00:16:51.799 although now there's a homeless encampment 00:16:51.799 --> 00:16:53.340 and the tough shed encampment. 00:16:53.340 --> 00:16:55.739 I know there are people that sleep on my street outside 00:16:55.739 --> 00:16:58.700 who refuse to go sleep in the tough sheds 00:16:58.700 --> 00:17:01.059 because they just wanna do drugs all day long 00:17:01.059 --> 00:17:03.659 or they have too serious of a mental illness 00:17:03.659 --> 00:17:05.619 exacerbated by the drug use, 00:17:05.619 --> 00:17:06.540 and so they can't even be there. 00:17:06.540 --> 00:17:09.439 So now you have both the homeless encampments 00:17:10.280 --> 00:17:11.119 and you have the homeless tiny home village. 00:17:11.119 --> 00:17:13.599 But here's the thing about the tiny home village. 00:17:13.599 --> 00:17:14.800 Those tiny home villages, 00:17:14.800 --> 00:17:19.800 there was a no-bid contract awarded to private individuals 00:17:20.280 --> 00:17:22.119 to build that tiny home encampment. 00:17:22.119 --> 00:17:23.280 Who got that contract? 00:17:23.280 --> 00:17:24.880 I can tell you who got the contract, 00:17:24.880 --> 00:17:27.520 the friend of the city council member. 00:17:27.520 --> 00:17:29.280 And then that friend, what do they do? 00:17:29.280 --> 00:17:31.040 They give that city council member 00:17:31.040 --> 00:17:32.959 a couple of flights on a private jet, 00:17:32.959 --> 00:17:35.800 a vacation home, maybe a chalet in Switzerland 00:17:35.800 --> 00:17:38.479 or a house on a beach in the south of France, 00:17:38.479 --> 00:17:40.400 or just cash in a red envelope, 00:17:40.400 --> 00:17:44.199 which is Jose Huizar, I think, 00:17:44.199 --> 00:17:46.199 is the old city council member 00:17:46.199 --> 00:17:47.900 that used to be over northeast Los Angeles, 00:17:47.900 --> 00:17:49.599 literally went to federal prison 00:17:49.599 --> 00:17:51.900 for getting red envelopes of cash 00:17:51.900 --> 00:17:56.900 for giving essentially deals to Chinese developers. 00:17:57.199 --> 00:17:59.699 And he was the same city council member 00:17:59.699 --> 00:18:01.319 that was over that area. 00:18:01.319 --> 00:18:02.160 So every once in a while, 00:18:02.160 --> 00:18:04.520 they do make an example out of somebody, 00:18:04.520 --> 00:18:06.119 but there is a homeless industrial- 00:18:06.119 --> 00:18:10.680 Is he the guy who okayed the development 00:18:10.680 --> 00:18:11.680 of the Skyrise Tower? 00:18:11.680 --> 00:18:13.359 Like the three Skyrises downtown 00:18:13.359 --> 00:18:15.439 and one of them is just, it's just graffiti, 00:18:15.439 --> 00:18:20.439 all like floor 40 to floor whatever 20 is just graffiti. 00:18:20.520 --> 00:18:21.359 It's crazy. 00:18:21.359 --> 00:18:23.359 You guys got to see it if you haven't. 00:18:23.359 --> 00:18:24.959 That's nuts. 00:18:24.959 --> 00:18:28.319 I wanted to share my screen 00:18:28.319 --> 00:18:33.160 to read this tweet of Matt Walsh about the income tax, 00:18:33.160 --> 00:18:35.439 but I don't, I've never done it in this software. 00:18:35.479 --> 00:18:37.079 So I'm a little nervous to do it 00:18:38.160 --> 00:18:41.000 because I don't want to like dox my whole computer screen. 00:18:43.160 --> 00:18:44.599 Should I just try it? 00:18:44.599 --> 00:18:46.079 Yeah, give it a shot, man. 00:18:48.599 --> 00:18:49.640 What if I do image file? 00:18:49.640 --> 00:18:50.479 Oh, sweet. 00:18:50.479 --> 00:18:51.319 I can load the image file. 00:18:51.319 --> 00:18:52.140 Yeah, image file. 00:18:52.140 --> 00:18:52.979 There you go. 00:18:52.979 --> 00:18:53.819 All right, let me just do that real quick. 00:18:53.819 --> 00:18:55.199 That's a good way to do it. 00:18:55.199 --> 00:18:57.000 First, I'm going to have to save it. 00:18:59.400 --> 00:19:00.239 You know what? 00:19:00.239 --> 00:19:01.079 I'm just going to read it. 00:19:01.079 --> 00:19:01.900 Forget it. 00:19:01.900 --> 00:19:02.739 I'm just going to read it. 00:19:02.739 --> 00:19:04.000 So Matt Walsh just tweeted today. 00:19:04.000 --> 00:19:05.800 He said, getting rid of the income tax 00:19:05.800 --> 00:19:06.839 isn't just about money. 00:19:06.839 --> 00:19:08.040 It's about freedom. 00:19:08.040 --> 00:19:10.160 The IRS has access to everything. 00:19:10.160 --> 00:19:11.560 They can take as much of your money 00:19:11.560 --> 00:19:13.199 as they want whenever they want. 00:19:13.199 --> 00:19:15.119 If you don't pay up, they'll take your property. 00:19:15.119 --> 00:19:16.760 They can throw you in prison. 00:19:16.760 --> 00:19:19.199 The Bill of Rights basically doesn't apply to them. 00:19:19.199 --> 00:19:21.280 So how can we call ourself a free country 00:19:21.280 --> 00:19:24.040 when an unelected agency can confiscate your income 00:19:24.040 --> 00:19:25.719 and destroy your life? 00:19:27.000 --> 00:19:28.239 And then he goes on. 00:19:29.640 --> 00:19:32.520 So I'll tell you one thing that Bitcoin does. 00:19:32.760 --> 00:19:36.599 Bitcoin makes them not be able to take your money. 00:19:36.599 --> 00:19:38.920 They cannot confiscate your wealth. 00:19:38.920 --> 00:19:42.640 They can come and find you and have a warrant 00:19:42.640 --> 00:19:44.400 for your arrest and throw you in prison, 00:19:44.400 --> 00:19:45.599 but they can't just take your money. 00:19:45.599 --> 00:19:47.680 Whereas right now, if your money's in Wells Fargo 00:19:47.680 --> 00:19:49.800 or Bank of America or Chase. 00:19:49.800 --> 00:19:50.619 It's not your money. 00:19:50.619 --> 00:19:54.160 The IRS can literally just take your income. 00:19:54.160 --> 00:19:55.959 They can also garnish your wages 00:19:55.959 --> 00:19:57.839 so that when you get paid, 00:19:57.839 --> 00:19:59.599 the taxes go to them immediately 00:19:59.599 --> 00:20:03.520 so that you're working like a slave to the IRS. 00:20:03.520 --> 00:20:04.560 And there's a lot of people 00:20:04.560 --> 00:20:06.479 that are going through that right now. 00:20:07.660 --> 00:20:08.560 And why? 00:20:08.560 --> 00:20:10.920 Their taxes aren't being used for anything. 00:20:10.920 --> 00:20:13.160 It's strictly a punishment. 00:20:13.160 --> 00:20:15.640 Their taxes are being just misappropriated 00:20:15.640 --> 00:20:20.640 to pay for somebody's random endeavor of, 00:20:21.319 --> 00:20:25.280 oh yeah, well, we're gonna fund this homeless encampment, 00:20:25.280 --> 00:20:27.459 but really we're just giving kickbacks 00:20:27.459 --> 00:20:29.859 to our construction friends. 00:20:29.859 --> 00:20:32.140 It's mental. 00:20:32.140 --> 00:20:35.300 Yeah, it's corruption on the local level 00:20:35.300 --> 00:20:37.219 all the way up to the federal level. 00:20:37.219 --> 00:20:38.300 It's just- 00:20:38.300 --> 00:20:41.099 Well, it's on the federal level with the Fed 00:20:41.099 --> 00:20:42.939 going all the way down to the local. 00:20:42.939 --> 00:20:45.699 It's, oh, I wanna get into politics. 00:20:45.699 --> 00:20:46.900 I'm gonna be a community leader. 00:20:46.900 --> 00:20:50.479 And like, no, no, no, the way that you play this game 00:20:50.479 --> 00:20:53.500 is that you grease some palms 00:20:53.500 --> 00:20:55.300 or whatever the thing is, right? 00:20:55.300 --> 00:20:57.459 And then that's how you make it to the next level. 00:20:57.459 --> 00:20:59.900 And then grease some more palms, make it to the next level, 00:20:59.900 --> 00:21:00.739 grease some more palms, 00:21:00.739 --> 00:21:02.420 you get a little bit more dirty, right? 00:21:02.420 --> 00:21:05.699 Go to a little Epstein parties, make it to the next level, 00:21:05.699 --> 00:21:07.219 get a little bit more power. 00:21:07.219 --> 00:21:10.979 It's like the whole system is so broken. 00:21:10.979 --> 00:21:12.900 It's unbelievable. 00:21:12.900 --> 00:21:16.540 And the fact that it's broken should really, 00:21:16.540 --> 00:21:19.260 like you should understand how broken it is. 00:21:20.140 --> 00:21:20.979 Yeah. 00:21:20.979 --> 00:21:23.599 The next thing you should do is start looking for solutions. 00:21:23.599 --> 00:21:26.439 And there is only one solution and that's Bitcoin. 00:21:26.439 --> 00:21:31.439 And here we are, like Bitcoin exists because it exists. 00:21:33.079 --> 00:21:36.680 You can one, exit the system of insane slavery 00:21:36.680 --> 00:21:40.359 and corruption, which is just huge robbery. 00:21:40.359 --> 00:21:42.959 Like the whole system of America 00:21:42.959 --> 00:21:44.719 is essentially just robbery. 00:21:44.719 --> 00:21:49.439 And then start building your own system on top of that. 00:21:49.439 --> 00:21:51.180 Not on top of it, instead of it. 00:21:52.180 --> 00:21:54.140 Just go for it, do it. 00:21:54.140 --> 00:21:58.339 Yeah, there's an escape that exists right now. 00:21:58.339 --> 00:22:01.719 So if hearing that makes you mad, 00:22:02.819 --> 00:22:04.660 there's something that you can do about it now. 00:22:04.660 --> 00:22:06.660 10 years ago, it was going on. 00:22:06.660 --> 00:22:07.660 Lots of people knew about it 00:22:07.660 --> 00:22:09.819 and there was nothing they could do. 00:22:09.819 --> 00:22:11.099 People were buying gold. 00:22:11.099 --> 00:22:14.780 And I heard gold described by a coin shop owner 00:22:14.780 --> 00:22:16.260 as a quiet asset. 00:22:17.699 --> 00:22:20.260 There have been a lot of people, 00:22:20.260 --> 00:22:23.979 there have been a lot of demographics or ethnicities 00:22:23.979 --> 00:22:26.780 or people from certain countries 00:22:26.780 --> 00:22:30.859 who have always culturally liked to have gold 00:22:30.859 --> 00:22:32.420 and kind of like hide it and just have it. 00:22:32.420 --> 00:22:34.979 And they're wealthy and nobody knows that they're wealthy. 00:22:34.979 --> 00:22:38.819 And now there is something, 00:22:38.819 --> 00:22:40.500 but the problem with that is, 00:22:40.500 --> 00:22:42.140 and this has happened historically. 00:22:42.140 --> 00:22:44.260 Let's say you have a whole bunch of gold 00:22:44.260 --> 00:22:46.339 or a whole bunch of silver or something like that. 00:22:46.339 --> 00:22:49.819 And all of a sudden things get really bad wherever you are. 00:22:50.420 --> 00:22:51.500 There's like a fascist government 00:22:51.500 --> 00:22:53.660 that wants to take everything from you. 00:22:53.660 --> 00:22:55.540 And you're gonna go with your gold, 00:22:55.540 --> 00:22:56.579 you're gonna get robbed. 00:22:56.579 --> 00:22:58.060 It's all gonna be taken from you. 00:22:58.060 --> 00:23:00.739 Now you have a thing 00:23:00.739 --> 00:23:04.660 that you can literally store in your own head. 00:23:04.660 --> 00:23:07.160 You can remember 12 words. 00:23:07.160 --> 00:23:10.739 You can fly to another country with nothing on your body 00:23:10.739 --> 00:23:12.739 and you can type those into a phone 00:23:12.739 --> 00:23:15.900 and all of your wealth is restored to you. 00:23:15.900 --> 00:23:17.579 That exists. 00:23:17.900 --> 00:23:20.099 Exists today, presently. 00:23:20.099 --> 00:23:21.020 It exists. 00:23:21.020 --> 00:23:23.219 And the world changed 00:23:23.219 --> 00:23:26.780 and most people have no idea that the world changed. 00:23:26.780 --> 00:23:28.040 They don't know yet. 00:23:28.040 --> 00:23:31.520 So last night at the Bitcoin meetup we attend here in LA, 00:23:32.819 --> 00:23:37.819 the conversation went into a creature from Jekyll Island. 00:23:38.540 --> 00:23:39.939 You've read this one, yeah? 00:23:41.219 --> 00:23:42.979 He and Edward Griffin. 00:23:42.979 --> 00:23:43.819 Yeah. 00:23:43.859 --> 00:23:48.180 So ultimately his solution, 00:23:48.180 --> 00:23:50.300 he goes, he understands the problem, 00:23:50.300 --> 00:23:51.420 which to his credit, 00:23:51.420 --> 00:23:53.819 he does a great job understanding the problem, right? 00:23:53.819 --> 00:23:56.020 But his solution is just to be a gold bug 00:23:56.020 --> 00:23:57.939 and do literally, 00:23:57.939 --> 00:24:00.859 and then one of the things about that book 00:24:00.859 --> 00:24:02.420 that just kind of bothered me, 00:24:02.420 --> 00:24:04.260 I thought it was a fantastic read. 00:24:04.260 --> 00:24:05.939 Very entertaining. 00:24:05.939 --> 00:24:07.060 Some people will read that and be like, 00:24:07.060 --> 00:24:08.900 oh my gosh, it's the end of the world. 00:24:08.900 --> 00:24:11.979 How can this be so crazy and evil or whatever? 00:24:11.979 --> 00:24:13.459 For me as a Bitcoiner I'm like, 00:24:14.300 --> 00:24:15.180 this is great. 00:24:15.180 --> 00:24:16.540 This is just pure entertainment. 00:24:16.540 --> 00:24:19.260 I love it because I have hope that, 00:24:19.260 --> 00:24:22.739 and I have substantiated hope that all of it's just, 00:24:22.739 --> 00:24:24.819 like the whole system that was built is all corrupt 00:24:24.819 --> 00:24:26.099 and it's all gonna collapse 00:24:26.099 --> 00:24:29.180 and I have a path to seeing that happen. 00:24:29.180 --> 00:24:34.180 Now, there's a few things in that book that bother me. 00:24:35.339 --> 00:24:38.380 One, he advocates for gold as a solution. 00:24:38.380 --> 00:24:39.219 Just no, no, no. 00:24:39.219 --> 00:24:40.660 We have to have one-to-one gold-backed money. 00:24:40.660 --> 00:24:43.099 That's the only solution kind of like what we gotta do. 00:24:43.140 --> 00:24:44.500 I'm sure there's more nuance to it, 00:24:44.500 --> 00:24:48.859 so I'm probably butchering his exact stance on it. 00:24:48.859 --> 00:24:53.339 But you look at any cursory history of money, 00:24:54.380 --> 00:24:55.819 it's predicated on, 00:24:57.739 --> 00:24:59.859 the only reason we can have fiat 00:24:59.859 --> 00:25:03.660 is because we have banks storing things that are valuable. 00:25:04.540 --> 00:25:07.300 If you don't have the banks storing things 00:25:07.300 --> 00:25:08.780 that are valuable first, 00:25:08.780 --> 00:25:12.660 no one's gonna get on board with the violence 00:25:12.660 --> 00:25:17.579 because no one's gonna believe that the fiat is real. 00:25:17.579 --> 00:25:20.699 They're just gonna be like, no, there's nothing there. 00:25:20.699 --> 00:25:23.020 There's nothing to, there's no, 00:25:25.300 --> 00:25:26.859 there's no trade. 00:25:26.859 --> 00:25:29.339 There's like, yeah, you have to make sure 00:25:29.339 --> 00:25:30.739 that the violence exists to, 00:25:30.739 --> 00:25:33.140 like the aircraft carriers exist to enforce 00:25:33.140 --> 00:25:35.040 that fiat is gonna be there, 00:25:36.380 --> 00:25:39.780 but you also need a trade. 00:25:39.780 --> 00:25:43.140 You need to be able to trade fiat for things. 00:25:43.140 --> 00:25:43.979 Okay. 00:25:46.060 --> 00:25:48.099 When you're advocating for gold, 00:25:48.099 --> 00:25:51.339 you're just advocating for banks all over again 00:25:51.339 --> 00:25:53.660 because you need, like you can't just have gold 00:25:53.660 --> 00:25:54.859 like sitting around or like, 00:25:54.859 --> 00:25:58.300 oh yeah, I'm gonna go buy things with gold. 00:25:58.300 --> 00:25:59.819 It's like ridiculous. 00:25:59.819 --> 00:26:02.859 You ultimately are advocating for, 00:26:02.859 --> 00:26:05.020 well, we're gonna have to store the gold somewhere 00:26:05.020 --> 00:26:08.900 and they're gonna issue us notes that are backed by gold 00:26:08.900 --> 00:26:12.619 and then eventually, well, it's just too cumbersome 00:26:12.619 --> 00:26:14.780 to audit the gold, so we're just gonna have, 00:26:14.780 --> 00:26:16.140 we're just gonna, I don't know how many notes 00:26:16.140 --> 00:26:18.380 we're gonna be out there and then it's like, 00:26:18.380 --> 00:26:21.060 well, that's just fiat all over again. 00:26:21.060 --> 00:26:22.900 So whenever you're advocating for gold, 00:26:22.900 --> 00:26:25.420 you're ultimately advocating for fiat 00:26:27.939 --> 00:26:30.780 and it's mind boggling that people do this to themselves. 00:26:31.780 --> 00:26:33.459 I personally like gold. 00:26:33.459 --> 00:26:34.300 I like silver. 00:26:34.300 --> 00:26:35.540 I think the metals are cool. 00:26:35.579 --> 00:26:39.459 I think as elements, they have unique qualities. 00:26:39.459 --> 00:26:41.459 If you bury gold in the ground 00:26:41.459 --> 00:26:43.699 and it's found 10,000 years from now, 00:26:43.699 --> 00:26:46.459 it looks identical to when it was buried 00:26:46.459 --> 00:26:48.579 because it doesn't tarnish at all. 00:26:48.579 --> 00:26:52.420 You can stretch gold thinner than almost any substance. 00:26:52.420 --> 00:26:57.140 The astronauts in the glass of their helmets 00:26:57.140 --> 00:26:59.900 had gold in the glass because you could stretch it so thin, 00:26:59.900 --> 00:27:01.859 it worked as like a UV protection 00:27:02.859 --> 00:27:03.699 and on and on. 00:27:03.699 --> 00:27:06.300 Silver is the best heat conductor, 00:27:06.300 --> 00:27:07.739 one of the best electricity conductors. 00:27:07.739 --> 00:27:09.579 I think it has a lot of industrial purposes. 00:27:09.579 --> 00:27:10.619 Gold and silver are cool, 00:27:10.619 --> 00:27:13.500 but if you've ever owned gold and silver, 00:27:13.500 --> 00:27:18.500 let's say that you have a 0.999 gold coin 00:27:18.500 --> 00:27:20.339 or you have a numismatic, 00:27:20.339 --> 00:27:24.260 meaning one that was made in 1920 by the US Mint 00:27:24.260 --> 00:27:28.900 and is worth $5 or $10 or whatever it was worth at that time 00:27:28.900 --> 00:27:30.619 and you go to a coin shop, 00:27:30.660 --> 00:27:34.219 you have to haggle over the price of what that gold's worth 00:27:34.219 --> 00:27:35.979 because it's not just the ounce of gold, 00:27:35.979 --> 00:27:37.459 it's what quality is it in. 00:27:37.459 --> 00:27:38.979 Oh, it's scratched, it's bent, 00:27:38.979 --> 00:27:42.900 it's one shop offers you a certain amount of money 00:27:42.900 --> 00:27:44.060 with a little bit of a premium, 00:27:44.060 --> 00:27:45.500 one shop offers another one. 00:27:45.500 --> 00:27:49.579 You have the danger of walking from your car to the shop 00:27:49.579 --> 00:27:54.219 or some unscrupulous shop run by the mob. 00:27:54.219 --> 00:27:56.260 You have to deal with things like that. 00:27:56.260 --> 00:27:58.219 With Bitcoin, there's none of that. 00:27:58.219 --> 00:28:01.520 You can interact with people that you don't know 00:28:01.520 --> 00:28:06.020 and the Bitcoin transaction either goes through 00:28:06.020 --> 00:28:06.900 or it doesn't. 00:28:06.900 --> 00:28:09.180 It's either validated or it isn't. 00:28:09.180 --> 00:28:12.140 So it takes, I still like gold and silver. 00:28:12.140 --> 00:28:13.260 I love that it exists. 00:28:13.260 --> 00:28:15.040 It's not gonna go anywhere. 00:28:15.040 --> 00:28:17.699 It's just, we have this other thing 00:28:17.699 --> 00:28:21.339 that is a pure form of money that's unconfiscatable, 00:28:21.339 --> 00:28:26.339 that isn't corruptible and it's incredibly fungible, 00:28:27.180 --> 00:28:28.900 incredibly fungible. 00:28:28.900 --> 00:28:33.140 You can break it down to eight digits 00:28:33.140 --> 00:28:35.660 past the decimal point and I think there's ways 00:28:35.660 --> 00:28:37.540 to make it even more divisible than that 00:28:37.540 --> 00:28:38.939 if the value goes up, 00:28:38.939 --> 00:28:41.459 although you'd know more about that than I would. 00:28:41.459 --> 00:28:44.479 And it's just better, it's a better form of money. 00:28:45.660 --> 00:28:46.500 Yeah. 00:28:46.500 --> 00:28:47.979 I mean, yeah. 00:28:47.979 --> 00:28:50.900 Gold has its place in the history of money 00:28:50.900 --> 00:28:55.540 because you can't fake it. 00:28:55.540 --> 00:28:58.579 I mean, you can fake it but you can verify it. 00:28:58.579 --> 00:29:01.579 You know, there's a whole problem set to do that 00:29:01.579 --> 00:29:03.819 but because of that reality, 00:29:03.819 --> 00:29:07.500 that means that there is a limited supply 00:29:07.500 --> 00:29:08.959 and you can only mine so much 00:29:08.959 --> 00:29:12.060 and because of that, it has limited inflation 00:29:12.060 --> 00:29:14.900 and therefore, it becomes a really great store of value, 00:29:14.900 --> 00:29:16.579 right, in most of human history, 00:29:16.579 --> 00:29:19.180 like converged on gold for that reason alone. 00:29:19.180 --> 00:29:24.180 There is, it's very hard to just print more gold. 00:29:24.619 --> 00:29:26.780 In fact, it's borderline impossible, 00:29:26.780 --> 00:29:30.819 especially with the existing stock, right? 00:29:30.819 --> 00:29:33.579 Like the inflation on the gold is never gonna be 00:29:33.579 --> 00:29:38.579 above 2% unless we figure out how to mine asteroids. 00:29:38.719 --> 00:29:41.020 So gold is not without its qualities 00:29:41.020 --> 00:29:45.380 but the problem there is that if there's a better money 00:29:46.619 --> 00:29:48.540 that has better qualities, 00:29:48.540 --> 00:29:51.500 you're gonna have a situation 00:29:51.500 --> 00:29:53.939 where there's a differentiation between these two monies 00:29:54.699 --> 00:29:57.619 and somebody is going to capitalize on that differentiation 00:29:57.619 --> 00:30:00.979 and the capitalist here, oh, how do you capitalize on it? 00:30:00.979 --> 00:30:05.979 Well, when the nation goes totally fascist 00:30:06.459 --> 00:30:08.099 and we gotta get out of here, 00:30:09.380 --> 00:30:11.979 the guy who's gonna try and cross the border with gold 00:30:11.979 --> 00:30:15.300 is not gonna exit the country with gold. 00:30:15.300 --> 00:30:17.079 The guy who tries to cross the border with Bitcoin 00:30:17.079 --> 00:30:19.500 is going to exit the country with Bitcoin 00:30:19.500 --> 00:30:23.199 and that is a differentiating factor about this money 00:30:23.199 --> 00:30:25.439 and the consequences there are, 00:30:27.560 --> 00:30:30.800 bro, stop, just stop it with the gold. 00:30:30.800 --> 00:30:33.680 Like you can invest in gold, 00:30:33.680 --> 00:30:37.040 like you can use it for trading and futures and all of that. 00:30:37.040 --> 00:30:39.839 Like you can be super into gold and figure it out, 00:30:39.839 --> 00:30:41.760 like how to make your living off of gold 00:30:41.760 --> 00:30:44.680 and just go for it, do it, 00:30:44.680 --> 00:30:47.160 but it's not a better money, right? 00:30:47.160 --> 00:30:49.560 And that's what just irks me so much 00:30:49.560 --> 00:30:54.560 about like the Creature from Jekyll Island crowd, 00:30:55.119 --> 00:30:57.640 like all the old gold bugs, like the boomer gold bugs 00:30:57.640 --> 00:30:59.599 and it's like, oh my goodness, 00:30:59.599 --> 00:31:03.439 how do you guys get yourself into this predicament? 00:31:03.439 --> 00:31:07.000 Like, is it willful ignorance? 00:31:07.000 --> 00:31:08.920 Is it just like, oh, you're so invested 00:31:08.920 --> 00:31:11.319 that like it's just, it's so impossible 00:31:11.319 --> 00:31:13.199 to move that amount of gold 00:31:13.199 --> 00:31:15.540 because it's, you know, whatever, 00:31:15.540 --> 00:31:17.660 but yeah, it's a whole thing. 00:31:18.540 --> 00:31:21.579 Yeah, you and I know so many Bitcoiners 00:31:21.579 --> 00:31:24.979 and this thing happens when you meet Bitcoiners. 00:31:24.979 --> 00:31:27.380 We don't all believe all the same things, 00:31:27.380 --> 00:31:29.099 but there are these common threads. 00:31:29.099 --> 00:31:30.540 There's a common morality. 00:31:30.540 --> 00:31:34.140 There's like common hopes that we all have, 00:31:34.140 --> 00:31:37.739 a common sort of philosophy, a way that we see the world. 00:31:37.739 --> 00:31:42.739 And so in the current moment, the boomers, 00:31:42.739 --> 00:31:46.180 the people who think Bitcoin's a scam 00:31:46.180 --> 00:31:47.780 or think that it's for criminals or something, 00:31:47.780 --> 00:31:50.140 they just don't share that philosophy. 00:31:50.140 --> 00:31:55.020 That is going to change as Bitcoin just becomes 00:31:55.020 --> 00:31:57.739 more and more mainstream, used for more different things. 00:31:57.739 --> 00:32:00.140 Those people are going to come around to Bitcoin. 00:32:00.140 --> 00:32:01.939 There are tons and tons of videos 00:32:01.939 --> 00:32:03.420 that you can watch right now 00:32:03.420 --> 00:32:05.160 of people getting pulled over by the police 00:32:05.160 --> 00:32:08.900 with large amounts of cash in their cars 00:32:08.900 --> 00:32:10.739 and the cops confiscate it. 00:32:10.739 --> 00:32:12.540 They're like, why do you have $80,000? 00:32:12.540 --> 00:32:14.780 Somebody says, yeah, somebody would be like, 00:32:14.819 --> 00:32:17.219 oh, I was going to buy a car. 00:32:17.219 --> 00:32:19.819 And they're like, well, we think you might be a drug dealer 00:32:19.819 --> 00:32:20.819 so we're going to keep your money. 00:32:20.819 --> 00:32:22.859 Or tons of videos of people flying 00:32:22.859 --> 00:32:27.619 with $40, $60 worth of silver coins through TSA. 00:32:27.619 --> 00:32:30.699 TSA finds it and like, why do you have these silver coins? 00:32:31.800 --> 00:32:34.819 And they go through this whole hassle. 00:32:34.819 --> 00:32:37.359 So even now, if you try to fly to another country, 00:32:37.359 --> 00:32:39.500 you might have your gold or silver confiscated. 00:32:39.500 --> 00:32:41.900 Or this is the most ridiculous thing. 00:32:41.900 --> 00:32:45.420 20 years ago, you couldn't fly with $10,000 00:32:45.420 --> 00:32:47.660 to another country without declaring it. 00:32:47.660 --> 00:32:50.219 Now, the amount, I believe, is the exact same 00:32:50.219 --> 00:32:52.780 and $10,000 is worth a whole lot less value. 00:32:52.780 --> 00:32:55.780 It's not even a big deal if you fly. 00:32:55.780 --> 00:32:59.239 But you can fly with a million dollars right now 00:32:59.239 --> 00:33:01.979 on an app on your phone with Bitcoin on it 00:33:01.979 --> 00:33:04.880 or in a hardware wallet or storing the keys in your head. 00:33:04.880 --> 00:33:07.939 And it's completely voluntary up to you 00:33:07.939 --> 00:33:10.079 whether or not, nobody would ever do this, 00:33:10.079 --> 00:33:11.859 whether or not you want to declare it. 00:33:12.819 --> 00:33:15.739 I've flown with all the Bitcoin that I have, 00:33:15.739 --> 00:33:17.219 everywhere in the world that I've ever gone. 00:33:17.219 --> 00:33:18.900 I've never had to declare it anywhere. 00:33:18.900 --> 00:33:21.219 And I've also gone to foreign countries 00:33:21.219 --> 00:33:24.839 and used Bitcoin to buy things in those countries. 00:33:24.839 --> 00:33:26.859 And when you do that, you're not paying 00:33:26.859 --> 00:33:28.780 a capital gains tax on your Bitcoin 00:33:28.780 --> 00:33:31.540 if it's not in some third-party exchange 00:33:31.540 --> 00:33:34.780 that's reporting and sending a 1099 to the IRS. 00:33:34.780 --> 00:33:36.660 If you have Bitcoin on a hardware wallet 00:33:36.660 --> 00:33:38.500 and you go to Costa Rica right now, 00:33:38.500 --> 00:33:42.180 I was just watching a video that Francis Poulant, 00:33:42.180 --> 00:33:44.099 I don't know how to pronounce his last name. 00:33:44.099 --> 00:33:45.780 It's French. 00:33:45.780 --> 00:33:46.619 Yeah, it's French. 00:33:46.619 --> 00:33:47.660 He was French-Canadian. 00:33:47.660 --> 00:33:51.140 He was buying all kinds of stuff. 00:33:51.140 --> 00:33:55.640 He was buying amazing cuts of beef and raw milk. 00:33:55.640 --> 00:33:59.280 And he's transacting in Bitcoin over the Lightning Network 00:33:59.280 --> 00:34:01.420 in a foreign country as a Canadian. 00:34:01.420 --> 00:34:04.739 You think he's paying capital gains tax to Canada 00:34:04.739 --> 00:34:05.900 on that Bitcoin? 00:34:05.900 --> 00:34:07.219 Not a chance. 00:34:07.219 --> 00:34:08.060 Maybe. 00:34:09.780 --> 00:34:12.699 Watch, you're gonna be stopped at the border 00:34:12.699 --> 00:34:13.739 next time you travel. 00:34:13.739 --> 00:34:15.459 Thanks, AI. 00:34:15.459 --> 00:34:17.419 Thanks, FBI guy. 00:34:17.419 --> 00:34:18.780 Yeah. 00:34:18.780 --> 00:34:21.060 NSA is recording this entire podcast 00:34:21.060 --> 00:34:22.780 and just transcribing it in AI 00:34:22.780 --> 00:34:25.300 and putting out a warrant for my arrest right now. 00:34:25.300 --> 00:34:26.139 Yeah. 00:34:28.100 --> 00:34:29.060 But don't worry, 00:34:29.060 --> 00:34:30.580 because they won't be funded much longer anyway. 00:34:30.580 --> 00:34:32.659 So, great. 00:34:32.659 --> 00:34:34.659 Are you paying your taxes this year? 00:34:34.659 --> 00:34:35.500 Of course. 00:34:35.500 --> 00:34:37.060 I'm not like... 00:34:38.739 --> 00:34:41.620 One, like you mentioned earlier, 00:34:41.620 --> 00:34:44.620 the incentives to make crazy amounts of money 00:34:44.620 --> 00:34:45.739 are just so broken. 00:34:45.739 --> 00:34:47.500 So it's like, why bother? 00:34:47.500 --> 00:34:51.139 So we essentially just live with totally within our means. 00:34:51.139 --> 00:34:53.780 And it's like, when you live totally within your means 00:34:53.780 --> 00:34:55.659 and you have, you know, 00:34:58.300 --> 00:35:01.260 your particular tax situation of, 00:35:01.260 --> 00:35:05.179 that's just every day we buy groceries, 00:35:06.020 --> 00:35:07.899 we're not buying luxury cars, 00:35:07.899 --> 00:35:09.139 we're not doing crazy things, 00:35:09.139 --> 00:35:11.100 we're not getting insane amounts of debt or whatever. 00:35:11.100 --> 00:35:12.659 It's like, oh, okay. 00:35:12.659 --> 00:35:15.179 Our taxes are gonna be pretty low 00:35:15.179 --> 00:35:19.620 because we're adults being responsible. 00:35:19.620 --> 00:35:21.379 So yeah, pay your taxes. 00:35:21.379 --> 00:35:23.020 It's not worth it for me. 00:35:23.020 --> 00:35:24.620 Not worth it for me to fight it. 00:35:26.340 --> 00:35:28.699 I'm not paying my taxes this year. 00:35:28.699 --> 00:35:29.540 There you go. 00:35:30.939 --> 00:35:34.379 No, I mean, I will always just pay the taxes 00:35:34.379 --> 00:35:38.379 because it's better to just pay the money 00:35:38.379 --> 00:35:39.500 they're extorting you for 00:35:39.500 --> 00:35:42.580 rather than face the penalty of possibly going to jail. 00:35:43.979 --> 00:35:47.739 But I am going to put as much money into Bitcoin 00:35:47.739 --> 00:35:51.820 to never be put into fiat so they can never have it again. 00:35:51.820 --> 00:35:52.659 And when you do that, 00:35:52.659 --> 00:35:56.219 you're extracting the value out of the fiat forever, 00:35:56.219 --> 00:35:57.060 which feels great. 00:35:57.060 --> 00:35:57.899 Now, I will say, 00:35:57.899 --> 00:35:59.699 when I say I'm not paying my taxes this year, 00:35:59.699 --> 00:36:02.020 we had those fires in Los Angeles. 00:36:02.020 --> 00:36:05.459 And so for whatever reason, for Los Angeles County, 00:36:05.459 --> 00:36:06.419 you can file an extension 00:36:06.419 --> 00:36:09.020 and you don't have to pay the taxes until October 15th. 00:36:09.020 --> 00:36:10.899 And the reason that I'm doing that 00:36:10.899 --> 00:36:14.340 is because the chances are so incredibly high 00:36:14.340 --> 00:36:17.139 that if I don't take those taxes that I owe, 00:36:17.139 --> 00:36:19.060 which is tens of thousands of dollars, 00:36:19.060 --> 00:36:21.580 and I might instead take it and put it into Bitcoin 00:36:21.580 --> 00:36:23.580 and hold it for a few more months, 00:36:23.580 --> 00:36:28.419 the potential of that value increasing by a huge amount 00:36:28.419 --> 00:36:29.860 is incredibly high. 00:36:29.860 --> 00:36:31.219 Bitcoiners are doing this, by the way. 00:36:31.219 --> 00:36:34.580 In fact, one of the guys who I follow on Twitter, 00:36:36.060 --> 00:36:38.699 he's just publicly posting this. 00:36:40.699 --> 00:36:42.419 He didn't pay his taxes, 00:36:42.419 --> 00:36:43.860 but he went through the deferred, 00:36:43.860 --> 00:36:45.699 like, okay, I'm gonna do a tax extension 00:36:45.699 --> 00:36:46.939 and all that stuff. 00:36:46.939 --> 00:36:48.739 So he didn't pay his taxes. 00:36:48.739 --> 00:36:52.899 This says he owes $10,000 in taxes. 00:36:52.899 --> 00:36:55.860 Doesn't pay it and instead just invests it in Bitcoin. 00:36:55.860 --> 00:37:00.340 And I don't know what the IRS charges on the taxes owed, 00:37:00.340 --> 00:37:04.340 but it's probably less than Bitcoin expected CAGR, right? 00:37:04.340 --> 00:37:05.620 So he's just like, 00:37:05.620 --> 00:37:07.899 well, I'm just gonna arbitrage the difference on that. 00:37:07.899 --> 00:37:09.939 And he's winning. 00:37:09.939 --> 00:37:13.419 And it's like, bro, this is ridiculous. 00:37:13.419 --> 00:37:15.620 It's like, that's the kind of thing where it's like, 00:37:15.620 --> 00:37:20.620 mm, this is, Bitcoin really does change the incentives here. 00:37:21.620 --> 00:37:24.600 Like, if everybody just jumps on that train of, 00:37:25.600 --> 00:37:28.719 wait a second, what if I just defer this indefinitely? 00:37:28.719 --> 00:37:30.159 I could just defer this indefinitely 00:37:30.159 --> 00:37:34.280 and then invest the balance in Bitcoin and I'm good to go. 00:37:34.280 --> 00:37:35.679 I mean, this account is, 00:37:35.679 --> 00:37:38.840 he's also one of the guys who's like, 00:37:38.840 --> 00:37:40.679 oh yeah, I just take out as many credit card debts 00:37:40.679 --> 00:37:43.280 as I possibly can and refinance 00:37:43.280 --> 00:37:45.080 to the lowest interest rate possible 00:37:45.080 --> 00:37:47.080 and then put it all in Bitcoin. 00:37:47.080 --> 00:37:50.919 And then he publishes the chart differences 00:37:50.919 --> 00:37:51.959 and it's like, oh yeah, 00:37:51.959 --> 00:37:53.959 well, of course Bitcoin is just like everything. 00:37:54.080 --> 00:37:57.399 I'm like way above on all of my payments. 00:37:57.399 --> 00:38:00.679 Even if I like never pay this off, 00:38:00.679 --> 00:38:03.560 I'm like still way far and above. 00:38:03.560 --> 00:38:07.040 I mean, if you never pay it off 00:38:07.040 --> 00:38:10.120 and you expect a power law distribution for Bitcoin, 00:38:10.120 --> 00:38:11.919 you're gonna get wrecked in the longterm. 00:38:11.919 --> 00:38:15.959 But at some point you should pay it off, point is. 00:38:15.959 --> 00:38:19.120 But in the short term, you can make way more 00:38:19.120 --> 00:38:22.679 just because the CAGR is so different than your APR. 00:38:22.679 --> 00:38:24.879 Like it's just, this is ridiculous. 00:38:24.879 --> 00:38:28.320 It's like, it's fundamentally breaks these systems 00:38:28.320 --> 00:38:32.239 that are predicated on fiat just losing money, right? 00:38:32.239 --> 00:38:33.080 It's crazy. 00:38:34.120 --> 00:38:37.879 It's risky and neither you or I can predict the future. 00:38:37.879 --> 00:38:41.560 So I'm not gonna recommend that anybody does that. 00:38:41.560 --> 00:38:42.520 Do not recommend. 00:38:43.639 --> 00:38:45.959 I can tell you matter of fact though, 00:38:45.959 --> 00:38:50.000 in the amount of time that I've been a Bitcoiner, 00:38:50.040 --> 00:38:53.919 had I put all of my bills on credit cards, 00:38:53.919 --> 00:38:56.679 only paid the credit card minimums 00:38:56.679 --> 00:38:59.159 and invested absolutely as much money 00:38:59.159 --> 00:39:01.479 into Bitcoin as I possibly could, 00:39:01.479 --> 00:39:04.919 I would have made millions of dollars. 00:39:04.919 --> 00:39:07.239 And my bills, my credit card bills, 00:39:07.239 --> 00:39:10.760 even with interest wouldn't come anywhere close to that. 00:39:10.760 --> 00:39:14.439 And so at some point I could just pay that debt off 00:39:14.439 --> 00:39:16.600 very easily by selling a little bit of Bitcoin 00:39:16.600 --> 00:39:19.280 and paying on capital gains on the appreciation 00:39:19.280 --> 00:39:20.679 of the Bitcoin that I sold, 00:39:20.679 --> 00:39:24.439 zeroing out all my debt and continued to do it. 00:39:25.520 --> 00:39:27.760 That's not to say we won't have a two-year bear market. 00:39:27.760 --> 00:39:29.159 And if you had just started that 00:39:29.159 --> 00:39:30.879 and went into a two-year bear market, 00:39:30.879 --> 00:39:32.439 you could literally go bankrupt. 00:39:32.439 --> 00:39:34.840 I mean, that's like the, I think it's a Mark Twain quote, 00:39:34.840 --> 00:39:37.760 you know, how'd you go broke slowly then suddenly. 00:39:38.639 --> 00:39:42.399 That could happen to you, but also gradually and suddenly. 00:39:42.399 --> 00:39:45.639 The same thing can be said about how is a fiat 00:39:45.639 --> 00:39:49.120 going to hyper inflate gradually then suddenly. 00:39:49.959 --> 00:39:54.959 We're in a, there's a push and pull, 00:39:54.959 --> 00:39:57.120 a seesaw, I don't know, you know, 00:39:57.120 --> 00:39:59.399 which is going to happen first, I don't know. 00:39:59.399 --> 00:40:02.159 I can't, like we can't predict the future, 00:40:02.159 --> 00:40:07.159 but I can just say I have very strong conviction 00:40:07.479 --> 00:40:10.959 that over the longer term, over a two-year, 00:40:10.959 --> 00:40:13.239 five-year, 10-year time period, 00:40:13.239 --> 00:40:15.959 the value of Bitcoin is just going to keep going up 00:40:15.959 --> 00:40:19.000 and up and up because inflation's not going to stop. 00:40:19.760 --> 00:40:22.760 And Bitcoin just gets more and more and more scarce 00:40:22.760 --> 00:40:26.439 over time, it's programmed into Bitcoin. 00:40:26.439 --> 00:40:30.919 Yeah, the, one of the thoughts that pops into my head 00:40:30.919 --> 00:40:33.360 as you're explaining that, there's a, 00:40:37.600 --> 00:40:40.159 one of the problems with going down that, 00:40:40.159 --> 00:40:42.719 the path of, oh, I'll just take out debt 00:40:42.719 --> 00:40:46.199 and I'll owe the IRS money and I'll just 100%, 00:40:46.959 --> 00:40:50.520 like as max out everything I can 00:40:50.520 --> 00:40:52.679 and just do minimum payments, et cetera. 00:40:52.679 --> 00:40:57.199 Like, okay, cool, if you make a lot of money, right? 00:40:57.199 --> 00:40:59.360 And then you don't have a lot of other expenses 00:40:59.360 --> 00:41:01.280 that like you don't have responsibilities 00:41:01.280 --> 00:41:06.280 and like you have, because the risk here is that, 00:41:06.600 --> 00:41:08.639 well, what if you get fired? 00:41:08.639 --> 00:41:10.679 And then all of a sudden you have to pay 00:41:10.679 --> 00:41:12.520 and Bitcoin's down, right? 00:41:12.520 --> 00:41:14.919 Like, oh, you have to pay $10,000 of interest 00:41:14.919 --> 00:41:16.800 on your credit card bills that month 00:41:16.800 --> 00:41:19.479 because you're in over $100,000 of debt 00:41:19.479 --> 00:41:21.639 or I guess it'd be probably less than that. 00:41:21.639 --> 00:41:26.199 But, and Bitcoin's down that month. 00:41:26.199 --> 00:41:27.679 And so you're just wrecked. 00:41:27.679 --> 00:41:29.800 Like, you're a wiped out margin called. 00:41:29.800 --> 00:41:32.360 I mean, you can do it where you're smart about it, 00:41:32.360 --> 00:41:34.199 but the fundamental thing, like, 00:41:34.199 --> 00:41:35.360 so you don't get margin called 00:41:35.360 --> 00:41:37.399 and there's ways to go about that, which is cool. 00:41:37.399 --> 00:41:41.959 But I think there's a lower layer to that. 00:41:41.959 --> 00:41:43.560 And the lower layer to that is like, 00:41:43.560 --> 00:41:45.719 your time is not your own. 00:41:45.719 --> 00:41:47.560 You are in debt. 00:41:47.560 --> 00:41:50.560 You are a like slave, essentially, 00:41:50.560 --> 00:41:53.040 a debt slave to paying this off. 00:41:53.040 --> 00:41:54.199 You are responsible. 00:41:54.199 --> 00:41:56.679 You are like, you have to do this thing. 00:41:56.679 --> 00:42:00.600 Now, hey, it's essentially collateralized debt. 00:42:00.600 --> 00:42:02.639 So you can kind of like sell the Bitcoin 00:42:02.639 --> 00:42:05.159 to immediately pay off the debt, potentially, 00:42:05.159 --> 00:42:06.959 maybe if you wait long enough. 00:42:06.959 --> 00:42:11.199 But man, it's just, for me, it's like, no, no, no. 00:42:11.199 --> 00:42:12.919 The debt is debt is debt. 00:42:12.919 --> 00:42:14.239 The debt is debt. 00:42:14.239 --> 00:42:17.560 Like, you are in, you are a debt slave to the debt. 00:42:17.560 --> 00:42:19.600 Your time is not your own. 00:42:19.600 --> 00:42:23.320 You have something literally around your neck 00:42:23.320 --> 00:42:25.399 pulling you down, right? 00:42:25.399 --> 00:42:27.080 Constantly, if you're in debt. 00:42:27.080 --> 00:42:27.919 I don't know. 00:42:27.919 --> 00:42:30.000 Personally, I'm not a big fan of debt. 00:42:30.000 --> 00:42:31.959 I don't think that, I don't think it's, 00:42:33.479 --> 00:42:35.840 Chesterton has a fantastic quote on it. 00:42:35.840 --> 00:42:37.760 I'm not even gonna try and butcher it. 00:42:37.760 --> 00:42:42.760 But when you own, 00:42:42.919 --> 00:42:45.280 debt, somebody owns your life. 00:42:45.280 --> 00:42:48.800 They can take your life from you, right? 00:42:48.800 --> 00:42:50.399 Think about it like, oh, well, 00:42:50.399 --> 00:42:53.919 the collateral for your debt is your life. 00:42:53.919 --> 00:42:55.239 It is your ability to make money. 00:42:55.239 --> 00:42:56.919 It's your ability to pay for the debt. 00:42:56.919 --> 00:42:59.320 So it makes sense, logically, 00:42:59.320 --> 00:43:00.760 this is the Chesterton point, 00:43:00.760 --> 00:43:03.080 that I should be able to take your finger 00:43:03.080 --> 00:43:04.639 or that I should be able to take your hand 00:43:04.639 --> 00:43:07.040 because you owe me your life 00:43:07.040 --> 00:43:08.600 and your finger is part of your life. 00:43:08.600 --> 00:43:10.239 So I'm taking your finger, right? 00:43:10.280 --> 00:43:14.199 That's like, that's the philosophical high level. 00:43:14.199 --> 00:43:15.800 And it's like, oh, that's just mafia. 00:43:15.800 --> 00:43:17.239 Yeah, well, that's what debt is. 00:43:17.239 --> 00:43:21.120 That's just, that's the whole premise of debt. 00:43:21.120 --> 00:43:24.919 It is extremely not good. 00:43:24.919 --> 00:43:27.959 And here we are waltzing around our modern, 00:43:29.479 --> 00:43:31.800 modern economy, oh, so advanced. 00:43:31.800 --> 00:43:33.800 It's just debt and it's just slavery 00:43:33.800 --> 00:43:36.959 and it's just oppression of all sorts of layers 00:43:36.959 --> 00:43:39.800 and systems and it's crazy. 00:43:40.199 --> 00:43:43.439 Anyway, that's my diatribe. 00:43:44.360 --> 00:43:47.800 Our entire society, our entire culture is based on debt. 00:43:47.800 --> 00:43:49.800 The money that we use is debt. 00:43:49.800 --> 00:43:51.879 The dollar is debt. 00:43:51.879 --> 00:43:54.520 And we have a huge national debt. 00:43:54.520 --> 00:43:55.840 And what do we do? 00:43:56.760 --> 00:43:58.879 They just, they, I'm saying we, 00:43:58.879 --> 00:44:01.360 they say, ah, well, we can just print the money 00:44:01.360 --> 00:44:03.239 anytime we can pay the national debt. 00:44:03.239 --> 00:44:04.959 So it doesn't even exist. 00:44:05.000 --> 00:44:09.879 Psychologically, it feels terrible to be in debt. 00:44:09.879 --> 00:44:12.199 And that's why I wouldn't recommend that strategy. 00:44:12.199 --> 00:44:14.760 And the other thing, and you've witnessed this, 00:44:14.760 --> 00:44:17.719 is what happens usually with Bitcoiners 00:44:17.719 --> 00:44:19.360 is they don't go into debt. 00:44:19.360 --> 00:44:21.520 They don't take on massive credit card debt 00:44:21.520 --> 00:44:23.879 because when you do that, 00:44:23.879 --> 00:44:28.320 even if you are only paying minimums on credit cards, 00:44:28.320 --> 00:44:30.239 you still have to pay those every single month. 00:44:30.239 --> 00:44:33.560 Whereas if your credit card bill is zeroed out, 00:44:33.560 --> 00:44:35.879 you don't have to pay anything to anybody. 00:44:35.879 --> 00:44:37.199 If you don't have a car payment, 00:44:37.199 --> 00:44:39.040 you don't have to pay anything to anybody. 00:44:39.040 --> 00:44:42.800 And then if you go out and work hard and earn an income, 00:44:42.800 --> 00:44:46.600 it's up to your discretion how much you want to invest. 00:44:46.600 --> 00:44:48.479 You own your life, yeah. 00:44:48.479 --> 00:44:51.719 Yeah, and so Bitcoin is often, 00:44:51.719 --> 00:44:54.360 the effect that it has on most people 00:44:54.360 --> 00:44:56.320 is it makes them more responsible. 00:44:56.320 --> 00:44:58.719 They wanna work harder, they wanna earn more money. 00:44:58.719 --> 00:45:02.120 They don't wanna buy the newest car and finance it. 00:45:02.120 --> 00:45:05.320 They don't just spend frivolously 00:45:05.320 --> 00:45:08.439 on things like clothes and super nice meals. 00:45:08.439 --> 00:45:11.080 Bitcoiners tend to take on a little bit more 00:45:11.080 --> 00:45:15.439 of an ascetic life, a little more humble, 00:45:15.439 --> 00:45:17.320 a little more austere. 00:45:17.320 --> 00:45:20.320 And then they take the extra income that they're earning 00:45:20.320 --> 00:45:24.919 and invest it more in Bitcoin with a longer term, 00:45:24.919 --> 00:45:28.000 lower time preference frame of mind. 00:45:28.040 --> 00:45:30.719 And then psychologically, 00:45:30.719 --> 00:45:33.639 you actually have savings that's growing 00:45:33.639 --> 00:45:36.679 kind of in the way that theoretically money would grow 00:45:36.679 --> 00:45:38.479 if there was no inflation on your money 00:45:38.479 --> 00:45:40.280 and you could put it in a bank account 00:45:40.280 --> 00:45:42.439 and trust the bank to pay you interest 00:45:42.439 --> 00:45:44.159 on that money that compounds. 00:45:44.159 --> 00:45:48.399 Now, you are the bank if you own Bitcoin 00:45:48.399 --> 00:45:50.439 and your money is compounding 00:45:50.439 --> 00:45:53.399 as the value of Bitcoin grows over time 00:45:53.399 --> 00:45:55.360 and nobody can ever take it away from you 00:45:55.360 --> 00:45:57.000 and you can take it anywhere you want. 00:45:57.000 --> 00:45:59.280 So it gives you freedom and it gives you sovereignty 00:45:59.280 --> 00:46:01.320 over your own money, over your own mind, 00:46:01.320 --> 00:46:02.399 over your own life. 00:46:04.959 --> 00:46:08.120 Which basically nobody has in a fiat world. 00:46:08.120 --> 00:46:11.280 Nobody has any sovereignty over their life or mind. 00:46:11.280 --> 00:46:15.080 From the day you're born, all your schooling, 00:46:15.080 --> 00:46:18.600 all your work life, and apart from the few exceptions 00:46:18.600 --> 00:46:21.080 who go on to, oh, I'm gonna think for myself 00:46:21.080 --> 00:46:23.840 and be an entrepreneur and blah, blah, blah, 00:46:24.800 --> 00:46:27.719 very few people enter that path 00:46:27.719 --> 00:46:31.120 because the vast majority of us are just trained 00:46:31.120 --> 00:46:36.040 from birth to be subjugated by this system. 00:46:36.040 --> 00:46:40.800 Do what the system says, like just 100% bought in, 00:46:40.800 --> 00:46:43.120 don't think about it, just be an NPC, 00:46:43.120 --> 00:46:47.399 march, do your orders, take your, I don't know, 00:46:47.399 --> 00:46:50.120 eat your food, watch your movies, and that's your life. 00:46:50.120 --> 00:46:53.520 And it's like, man, we were made for so much more than this. 00:46:54.000 --> 00:46:56.679 But we can't do that because we're in debt. 00:46:56.679 --> 00:46:58.639 So it's like, bro, this is crazy. 00:47:00.879 --> 00:47:04.800 Yeah, so basically what I'm saying is being a Bitcoiner 00:47:04.800 --> 00:47:05.919 makes you better. 00:47:05.919 --> 00:47:07.959 You become better by Bitcoin. 00:47:08.879 --> 00:47:10.919 So you're better by Bitcoin. 00:47:10.919 --> 00:47:11.760 Yeah. 00:47:11.760 --> 00:47:12.600 You become better. 00:47:12.600 --> 00:47:14.639 You get better, you get way better with Bitcoin, indeed. 00:47:14.639 --> 00:47:16.879 You do, everything gets better with Bitcoin. 00:47:18.080 --> 00:47:23.080 I know, and I don't know, you wanna leave it at that? 00:47:23.080 --> 00:47:26.239 I mean, that's the whole point, so. 00:47:27.439 --> 00:47:28.800 Yeah, we're probably gonna leave it at that. 00:47:28.800 --> 00:47:30.439 How long are we gonna go for, 47 minutes? 00:47:30.439 --> 00:47:33.239 We're gonna talk about AI. 00:47:34.199 --> 00:47:35.719 I guess I could say one more thing. 00:47:35.719 --> 00:47:40.520 I did, I put my bookkeeping this year into Grok, 00:47:40.520 --> 00:47:45.280 and Grok walked me through how to make a perfect spreadsheet 00:47:45.280 --> 00:47:48.719 for my CPA with perfect formulas. 00:47:48.719 --> 00:47:52.879 Grok checked the formulas over and over and over again. 00:47:53.639 --> 00:47:55.239 You gave me an incredible suggestion 00:47:55.239 --> 00:47:58.439 to when I give Grok instructions, 00:47:58.439 --> 00:48:01.120 rather than just saying, okay, tell me what you think, 00:48:01.120 --> 00:48:05.000 at the end, writing, ask me questions before you begin. 00:48:05.000 --> 00:48:09.560 And then the AI refines, it refines everything. 00:48:09.560 --> 00:48:11.320 So you don't have to go through the editing steps. 00:48:11.320 --> 00:48:14.399 It refines it before it ever does the computations. 00:48:14.399 --> 00:48:17.399 And a job that normally takes me two weeks, 00:48:17.399 --> 00:48:20.719 which is insane, because my time is incredibly valuable, 00:48:20.719 --> 00:48:23.919 so I'm wasting it to pay taxes normally. 00:48:23.919 --> 00:48:26.800 This entire thing took me three hours. 00:48:26.800 --> 00:48:29.080 I gave it to my accountant, and he was blown away. 00:48:29.080 --> 00:48:32.419 He didn't understand, because I don't have a bookkeeper. 00:48:32.419 --> 00:48:36.639 Now I do, AI is now your bookkeeper, pretty amazing. 00:48:36.639 --> 00:48:38.000 Yeah, it's incredible. 00:48:39.159 --> 00:48:42.159 And the IRS has the same tool on the other side, blah, blah. 00:48:42.159 --> 00:48:46.399 What is the, it's the, this is a tweet that came out, 00:48:46.399 --> 00:48:48.679 I'm gonna butcher it again, but this is a tweet 00:48:48.679 --> 00:48:50.719 that came out right when AI was like really, 00:48:50.719 --> 00:48:53.239 like right at the forefront of it, 00:48:53.239 --> 00:48:56.320 when people were like getting their minds blown 00:48:56.320 --> 00:48:58.520 about what it could do at this point in the game. 00:48:58.520 --> 00:49:00.479 And the tweet is something along the lines of, 00:49:00.479 --> 00:49:04.280 we're gonna be able to use AI to write people emails 00:49:04.280 --> 00:49:07.399 about tactfully and where we're headed 00:49:07.399 --> 00:49:10.120 and all this other blah, blah, blah, et cetera, et cetera. 00:49:10.120 --> 00:49:13.280 And then the people receiving these extra long, 00:49:13.280 --> 00:49:16.719 very nicely worded emails are gonna use AI 00:49:16.719 --> 00:49:18.479 to read the emails to condense it down 00:49:19.280 --> 00:49:20.840 so like, bro, just send me the text message 00:49:20.840 --> 00:49:22.320 that says, no, I'm not gonna do that. 00:49:22.320 --> 00:49:25.639 Or like, it's like, what are we doing here, right? 00:49:25.639 --> 00:49:28.800 Like, and to go back to this, it's like, 00:49:30.760 --> 00:49:33.360 every AI transaction, a lot of people don't realize this, 00:49:33.360 --> 00:49:34.919 is a crazy amount of energy. 00:49:34.919 --> 00:49:37.040 That's why it's not free, right? 00:49:37.040 --> 00:49:38.479 It's a crazy amount of energy. 00:49:38.479 --> 00:49:40.840 And most of these companies are gonna be, 00:49:40.840 --> 00:49:43.840 if they're like, I don't know if they're profitable. 00:49:43.840 --> 00:49:45.120 I highly doubt they're profitable. 00:49:45.120 --> 00:49:47.360 They're in the stage of the growth stage, right? 00:49:47.399 --> 00:49:50.959 So they are going to be, 00:49:50.959 --> 00:49:55.719 every single one of these is tons of energy on the inputs 00:49:55.719 --> 00:49:58.760 and then tons of energy evaluating the outputs 00:49:58.760 --> 00:50:00.439 and the consequences are gonna be, 00:50:00.439 --> 00:50:03.280 well, why didn't we just simplify the whole thing 00:50:03.280 --> 00:50:05.479 so we didn't have to waste all this energy? 00:50:05.479 --> 00:50:07.199 That was another tweet I saw recently. 00:50:07.199 --> 00:50:12.199 It was like, Tesla dropped their support of Bitcoin 00:50:12.520 --> 00:50:15.360 back in 2019 or 18 or whatever it was, 00:50:15.360 --> 00:50:16.360 dropped their support of Bitcoin 00:50:16.360 --> 00:50:19.040 because it was bad for the environment 00:50:19.040 --> 00:50:21.639 because of the energy consumption that Bitcoin uses. 00:50:21.639 --> 00:50:24.600 And now Tesla and every other company in the world 00:50:24.600 --> 00:50:28.439 is going so hard on AI that they literally 00:50:28.439 --> 00:50:31.639 are building nuclear power plants to support this stuff. 00:50:32.520 --> 00:50:33.360 And it's like- 00:50:33.360 --> 00:50:35.360 They fired back up Three Mile Island. 00:50:35.360 --> 00:50:37.360 Yeah, what's the, guys, like, what the? 00:50:39.040 --> 00:50:41.080 They're losing the plot, man. 00:50:41.080 --> 00:50:42.719 Yeah, you know what else is interesting about that? 00:50:42.719 --> 00:50:46.159 They're making these huge data centers all over the country 00:50:46.159 --> 00:50:48.199 and it's essentially just to run, 00:50:48.199 --> 00:50:50.879 I don't know what they run on, it's like a GPU or something. 00:50:50.879 --> 00:50:53.399 Though, you either could have a huge data center 00:50:53.399 --> 00:50:55.159 of ASICs mining Bitcoin 00:50:55.159 --> 00:51:00.080 or you could have a huge data center of GPUs processing AI. 00:51:01.679 --> 00:51:03.879 And which is gonna be the more profitable thing? 00:51:03.879 --> 00:51:05.639 So that'll be an interesting, 00:51:05.639 --> 00:51:06.600 I'm sure there are people 00:51:06.600 --> 00:51:09.560 that are having that debate right now. 00:51:09.560 --> 00:51:11.560 I use NiceHash back in the day 00:51:11.560 --> 00:51:13.040 and I remember the guy that said, 00:51:13.040 --> 00:51:14.399 he was like, yeah, I'll pay you in Bitcoin, 00:51:14.399 --> 00:51:17.479 but you're probably doing data mining 00:51:17.479 --> 00:51:18.520 for Russia or something. 00:51:18.520 --> 00:51:19.679 It could be really shady stuff. 00:51:19.679 --> 00:51:21.679 You don't know how it's being used. 00:51:21.679 --> 00:51:22.520 Yeah. 00:51:25.120 --> 00:51:26.639 Yeah. 00:51:26.639 --> 00:51:27.800 There was one more thing 00:51:27.800 --> 00:51:29.080 that I wanted to mention about this 00:51:29.080 --> 00:51:32.280 and I completely blanked on it. 00:51:32.280 --> 00:51:34.159 So when, like, to, 00:51:37.080 --> 00:51:40.280 to really nail at home in terms of the energy consumption, 00:51:41.080 --> 00:51:44.919 to scale Grok up, they had to have, 00:51:44.919 --> 00:51:46.679 and you can like look up the picture online, 00:51:46.679 --> 00:51:47.760 but it's something like, 00:51:47.760 --> 00:51:51.360 they had their warehouse for all the, 00:51:51.360 --> 00:51:52.600 like the data center, right? 00:51:52.600 --> 00:51:55.679 And then they had a huge parking lot 00:51:55.679 --> 00:51:57.479 and like the entire warehouse 00:51:57.479 --> 00:52:00.320 was essentially surrounded by those, 00:52:01.600 --> 00:52:03.000 you see them on film sets all the time, 00:52:03.000 --> 00:52:04.159 I forget what they're called, 00:52:04.159 --> 00:52:07.600 but like the generator that's on the back of a truck, 00:52:07.600 --> 00:52:10.080 it's like a massive generator. 00:52:10.879 --> 00:52:12.399 So a warehouse, it's so, 00:52:12.399 --> 00:52:13.239 cause they didn't have the power 00:52:13.239 --> 00:52:15.879 until the new systems were brought up. 00:52:16.840 --> 00:52:18.919 They just, they were just literally, 00:52:18.919 --> 00:52:20.959 the whole warehouse is just surrounded 00:52:20.959 --> 00:52:25.959 by fuel burning power generators, 00:52:26.280 --> 00:52:30.560 creating kilowatts of power for the GPUs. 00:52:30.560 --> 00:52:34.399 It's just like, you guys, you just so lost the plot. 00:52:34.399 --> 00:52:37.520 It's incredible to me, but whatever. 00:52:37.520 --> 00:52:38.800 I remember what I was going to say 00:52:38.800 --> 00:52:42.080 and it's, so first thing, 00:52:43.159 --> 00:52:46.280 on that same subject, there's a new show coming out. 00:52:46.280 --> 00:52:47.919 It's called Long Way Home. 00:52:47.919 --> 00:52:49.600 So with Ewan McGregor and Charlie Borman, 00:52:49.600 --> 00:52:50.959 they did a show called Long Way Round 00:52:50.959 --> 00:52:52.919 back in about 2006, 2007, 00:52:52.919 --> 00:52:54.479 where they rode their motorcycles 00:52:54.479 --> 00:52:58.239 from England all the way around the world to New York. 00:52:58.239 --> 00:52:59.080 You ever seen that show? 00:52:59.080 --> 00:53:00.560 Amazing, incredible show. 00:53:00.560 --> 00:53:01.399 No, I haven't. 00:53:01.399 --> 00:53:02.639 It was a British show. 00:53:02.639 --> 00:53:04.879 Then they did another one called Long Way Down, 00:53:04.879 --> 00:53:06.399 where they rode from the tip of Scotland 00:53:06.399 --> 00:53:08.520 to the bottom of Africa on motorcycles. 00:53:09.239 --> 00:53:10.679 So that was season two, it was a few years later. 00:53:10.679 --> 00:53:13.919 Then they did one for Apple TV called Long Way Up. 00:53:13.919 --> 00:53:16.800 And in this one, they rode from the tip of South America 00:53:16.800 --> 00:53:18.479 to the Arctic in North America. 00:53:18.479 --> 00:53:21.199 But on this one, they wanted to do it in a, 00:53:21.199 --> 00:53:24.639 let's save the environment and ride electric motorcycles 00:53:24.639 --> 00:53:26.439 and we'll drive Rivian trucks. 00:53:26.439 --> 00:53:28.760 And so it became sort of- 00:53:28.760 --> 00:53:29.919 So brave, so brave. 00:53:29.919 --> 00:53:31.320 Yeah, I know, so brave. 00:53:31.320 --> 00:53:34.320 So it was a promotional piece for Rivian. 00:53:34.320 --> 00:53:36.520 It was a promotional piece for Harley Davidson motorcycles. 00:53:36.520 --> 00:53:37.919 But the thing was, 00:53:37.919 --> 00:53:39.800 there was nowhere to charge the motorcycles. 00:53:39.800 --> 00:53:41.639 And so if you look in the footage, 00:53:41.639 --> 00:53:42.600 you can actually see, 00:53:42.600 --> 00:53:44.479 especially as they're getting on ferries, 00:53:44.479 --> 00:53:48.560 they had a gigantic truck with them the entire time 00:53:48.560 --> 00:53:53.560 with a huge diesel generator on the back of the truck. 00:53:53.600 --> 00:53:57.280 And so they were charging the electric motorcycles secretly 00:53:57.280 --> 00:53:58.399 with a diesel generator 00:53:58.399 --> 00:54:00.439 because the motorcycles could never make the trip. 00:54:00.439 --> 00:54:02.879 And so they just came out with a new season 00:54:02.879 --> 00:54:04.679 called Long Way Home. 00:54:04.679 --> 00:54:06.879 And in this one, they're exploring Europe 00:54:06.879 --> 00:54:09.919 and they're doing it on old vintage motorcycles, 00:54:09.919 --> 00:54:13.760 gas guzzling, burning vintage motorcycles. 00:54:13.760 --> 00:54:16.560 And it looks really good, but it's just funny. 00:54:16.560 --> 00:54:17.760 I feel like they came full circle. 00:54:17.760 --> 00:54:18.879 So that was the first thing I want to say. 00:54:18.879 --> 00:54:21.000 And then the second thing I want to say was 00:54:21.000 --> 00:54:22.840 back on the AI front, 00:54:22.840 --> 00:54:26.280 a thing that I really want to do 00:54:26.280 --> 00:54:29.760 that I don't feel like enough people are doing yet 00:54:29.760 --> 00:54:34.760 is I had to call the court of Southern California 00:54:36.360 --> 00:54:39.320 because I got jury duty and I couldn't do it. 00:54:39.320 --> 00:54:42.520 And the whole time I was like caller number 97 00:54:42.520 --> 00:54:44.679 and it was going to take two hours or something. 00:54:44.679 --> 00:54:49.280 And I could so easily just tell some AI 00:54:49.280 --> 00:54:50.320 to stay on the phone. 00:54:50.320 --> 00:54:52.000 And as soon as they got a human 00:54:52.000 --> 00:54:56.879 to just tell them the information that I wanted to convey. 00:54:56.879 --> 00:55:00.840 And the amount of time, 00:55:00.840 --> 00:55:03.120 like the value that you're wasting 00:55:03.120 --> 00:55:05.199 by staying on the phone for two hours, 00:55:05.199 --> 00:55:06.320 at this point in time. 00:55:06.320 --> 00:55:07.959 Or even better, just heaven forbid, 00:55:07.959 --> 00:55:09.800 like they just set up a text system where it's like, 00:55:09.800 --> 00:55:11.479 hey, I can't come in. 00:55:11.479 --> 00:55:12.320 Right. 00:55:12.320 --> 00:55:13.159 I'm going to send you a text. 00:55:13.159 --> 00:55:15.879 So you don't have to talk to anybody on the phone. 00:55:15.879 --> 00:55:19.159 Oh, what about an app where it's just, 00:55:19.159 --> 00:55:20.239 here's your check-in time. 00:55:20.239 --> 00:55:21.080 Can you make it? 00:55:21.080 --> 00:55:22.600 No, yes, whatever. 00:55:22.600 --> 00:55:24.919 It's just ridiculous, the whole thing. 00:55:24.919 --> 00:55:28.719 At this point, if you're dealing with dumb inefficiencies, 00:55:28.719 --> 00:55:29.639 it's a choice. 00:55:30.800 --> 00:55:34.560 You can just choose to opt out of so many things right now. 00:55:34.560 --> 00:55:35.760 You can choose to opt out of that 00:55:35.760 --> 00:55:38.639 and you can choose to opt out of fiat currency 00:55:38.639 --> 00:55:42.080 by just using Bitcoin and understanding Bitcoin. 00:55:42.080 --> 00:55:43.600 And it's really not that difficult. 00:55:43.600 --> 00:55:45.280 It's not that complicated. 00:55:45.280 --> 00:55:47.120 And your life will be made better. 00:55:48.000 --> 00:55:49.280 Yeah. 00:55:49.280 --> 00:55:50.120 Absolutely. 00:55:51.919 --> 00:55:54.080 Suffering from inflation is a choice. 00:55:54.120 --> 00:55:55.159 100% a choice. 00:55:55.159 --> 00:55:56.919 You do not have to suffer from inflation. 00:55:56.919 --> 00:55:57.879 Nobody does. 00:55:57.879 --> 00:55:59.239 Not a single person on earth does. 00:55:59.239 --> 00:56:01.560 And yet, they do. 00:56:01.560 --> 00:56:02.439 Because they don't understand 00:56:02.439 --> 00:56:04.239 that everything's better by Bitcoin. 00:56:05.120 --> 00:56:06.320 Exactly. 00:56:06.320 --> 00:56:07.600 All right. 00:56:07.600 --> 00:56:10.000 With that, let's sign off. 00:56:10.000 --> 00:56:13.560 Anton, thank you for joining on the show today. 00:56:13.560 --> 00:56:15.360 And we'll see you next time. 00:56:16.959 --> 00:56:18.560 Better by Bitcoin. 00:56:18.560 --> 00:56:19.399 Peace. 00:56:20.399 --> 00:56:22.399 ♪ Got a good thing coming ♪ 00:56:22.399 --> 00:56:24.800 ♪ And it's all I need ♪ 00:56:24.800 --> 00:56:27.800 ♪ Everything I want ♪