WEBVTT 00:00:00.000 --> 00:00:05.000 But they got it, and it's all I need, everything I wanted 00:00:30.000 --> 00:00:35.000 to do, and it's all I need, everything I wanted to do. 00:01:00.320 --> 00:01:01.160 What the fuck? 00:01:01.160 --> 00:01:04.599 One of the most fiat fucking bunch of nonsense I've ever heard. 00:01:04.599 --> 00:01:06.199 A gold bar is like this big. 00:01:06.199 --> 00:01:08.720 You could wrap lead, tungsten, whatever. 00:01:08.720 --> 00:01:12.360 How, if you have like thousands of bars, 00:01:12.360 --> 00:01:15.199 nobody could ever know that it's really gold or not. 00:01:15.199 --> 00:01:16.320 Yeah, yeah. 00:01:16.320 --> 00:01:18.120 The only thing that matters for anybody 00:01:18.120 --> 00:01:20.919 at this point in the game is the optics of like, 00:01:20.919 --> 00:01:22.279 like Elon said, like, oh yeah, 00:01:22.279 --> 00:01:25.199 live streaming of Fort Knox would be awesome. 00:01:25.199 --> 00:01:28.199 Like, it's just the optics, the only thing that matters. 00:01:28.239 --> 00:01:31.160 Nobody actually cares if there's gold there or not. 00:01:31.160 --> 00:01:34.239 Like, you just, oh, we're just gonna have a bunch of, 00:01:34.239 --> 00:01:36.120 Anton, you don't even need to wrap it. 00:01:36.120 --> 00:01:38.599 You can like literally just get blocks of wood 00:01:38.599 --> 00:01:41.279 and paint it gold, and it looks great on camera, 00:01:41.279 --> 00:01:43.400 because that's the only thing that's gonna matter. 00:01:43.400 --> 00:01:44.239 Yeah. 00:01:44.239 --> 00:01:45.320 Have you ever lifted gold? 00:01:45.320 --> 00:01:46.720 It's heavy as fuck. 00:01:46.720 --> 00:01:48.559 The bar of gold is impossible. 00:01:48.559 --> 00:01:50.800 So, if you have like two bars, 00:01:50.800 --> 00:01:53.360 and then underneath it you got 10, 20 bars, 00:01:53.360 --> 00:01:56.400 you're never gonna see the other bars anyway. 00:01:56.440 --> 00:01:58.239 I guess the question really is what would be, 00:01:58.239 --> 00:01:59.080 what's the point? 00:01:59.080 --> 00:02:01.599 Okay, so do it or don't do it, what the fuck ever. 00:02:01.599 --> 00:02:04.839 But what do we gain out of that? 00:02:05.760 --> 00:02:07.839 Our currency isn't backed by gold. 00:02:07.839 --> 00:02:08.679 Yeah. 00:02:08.679 --> 00:02:10.240 What does the gold even matter? 00:02:10.240 --> 00:02:12.199 It's our gold, Anton. 00:02:12.199 --> 00:02:13.919 It's our gold. 00:02:13.919 --> 00:02:15.360 It's not mine. 00:02:15.360 --> 00:02:18.000 It's my gold and your gold. 00:02:18.000 --> 00:02:19.639 It's our gold. 00:02:19.639 --> 00:02:23.279 Our government, who habitually steals 00:02:23.279 --> 00:02:24.919 hundreds of billions of dollars, 00:02:24.919 --> 00:02:26.679 trillions of dollars from us, 00:02:26.679 --> 00:02:29.759 has, oh, oh, no, it's the people's gold. 00:02:29.759 --> 00:02:31.119 We need to make sure, we need to make, 00:02:31.119 --> 00:02:33.440 oh, yeah, we need to make sure that it's the people's gold, 00:02:33.440 --> 00:02:34.320 that it's still there. 00:02:34.320 --> 00:02:35.600 Yeah, we gotta be checking with you. 00:02:35.600 --> 00:02:36.960 We have no proof that the government 00:02:36.960 --> 00:02:38.720 has nuked any money ever. 00:02:38.720 --> 00:02:40.080 We have no proof whatsoever. 00:02:40.080 --> 00:02:45.080 So, let's just be, you know, above board on that. 00:02:47.279 --> 00:02:49.960 I heard a good one from that guy, Santiago Capital. 00:02:49.960 --> 00:02:53.199 He was like, it's gonna be funny when they audit the gold 00:02:54.119 --> 00:02:55.520 and there's more gold in it than there's supposed to be. 00:02:55.520 --> 00:02:56.360 Yeah. 00:02:56.360 --> 00:02:57.199 Yeah. 00:02:57.199 --> 00:02:58.600 That's funny. 00:02:58.600 --> 00:03:00.639 It's like, I don't know. 00:03:00.639 --> 00:03:03.399 The only interesting thing I've heard on it is, 00:03:03.399 --> 00:03:06.639 is, you know, if they just decide to, like, 00:03:06.639 --> 00:03:09.160 reprice everything, you know, 00:03:09.160 --> 00:03:13.199 if they decide to try to use gold as collateral again 00:03:13.199 --> 00:03:14.600 and then just reprice all the gold 00:03:14.600 --> 00:03:16.119 at 10,000 an ounce or whatever. 00:03:16.119 --> 00:03:17.600 Yeah, I think that's it. 00:03:17.600 --> 00:03:22.600 But again, like, I don't, how does that solve anything? 00:03:23.440 --> 00:03:24.839 What does that do to the treasury market? 00:03:24.839 --> 00:03:25.679 Like, I don't know. 00:03:25.679 --> 00:03:29.240 I'm not that smart, but like, I don't know. 00:03:29.240 --> 00:03:30.880 It just feels like theater to me. 00:03:30.880 --> 00:03:32.080 It doesn't make any sense. 00:03:32.080 --> 00:03:33.199 Yeah. 00:03:33.199 --> 00:03:34.839 Yeah, theater. 00:03:34.839 --> 00:03:38.639 I have the GLD ETF in an IRA. 00:03:38.639 --> 00:03:41.639 I would love for them to reprice gold at $10,000 an ounce, 00:03:42.559 --> 00:03:43.839 but I don't know what that actually does 00:03:43.839 --> 00:03:46.800 other than just enrich people that hold the ETF. 00:03:48.440 --> 00:03:50.199 No, the way they, you wouldn't, 00:03:50.199 --> 00:03:52.240 nobody in the ETF would get enriched. 00:03:52.240 --> 00:03:54.320 The only people who would get enriched are the government. 00:03:54.320 --> 00:03:56.000 Nobody else would get enriched. 00:03:56.000 --> 00:04:00.320 There's no point in doing it if everybody gets enriched. 00:04:00.320 --> 00:04:02.880 The only way you do it is if the government gets enriched. 00:04:02.880 --> 00:04:04.440 But wouldn't the, if the price of gold 00:04:04.440 --> 00:04:07.000 just gets set to $10,000 an ounce? 00:04:07.000 --> 00:04:08.119 Of course, but what they're gonna do, 00:04:08.119 --> 00:04:09.320 what they would do, they'd be like, 00:04:09.320 --> 00:04:11.919 oh yeah, cool, we're gonna chop down, 00:04:11.919 --> 00:04:14.759 actually, sorry, your gold ETF, 00:04:14.759 --> 00:04:16.079 like, it was pegged to this, 00:04:16.079 --> 00:04:17.640 but because the government's doing this thing, 00:04:17.640 --> 00:04:18.720 we had to unpeg it to that. 00:04:18.720 --> 00:04:20.959 So now it's, oh yeah, you had 100 shares, 00:04:20.959 --> 00:04:22.959 but it's actually worth whatever, 00:04:22.959 --> 00:04:24.859 70 shares of gold now, sorry. 00:04:26.799 --> 00:04:27.760 I think so. 00:04:27.760 --> 00:04:31.320 I think part of the Bitcoin thesis, 00:04:31.320 --> 00:04:36.200 at least in my mind, is that the government cannot, 00:04:37.040 --> 00:04:38.200 they have to print, right? 00:04:38.200 --> 00:04:40.600 We've got hundreds of trillions of unfunded liabilities. 00:04:40.600 --> 00:04:43.200 They have to create more monetary units. 00:04:43.200 --> 00:04:45.760 And that the only way to do that 00:04:45.760 --> 00:04:47.640 where there isn't a revolution 00:04:47.640 --> 00:04:52.359 and there isn't earth-shattering inflation 00:04:52.359 --> 00:04:56.359 is that they have as many of the people in that society, 00:04:56.359 --> 00:04:58.000 let's say it's the United States, 00:04:58.000 --> 00:05:02.279 who own the asset that's getting inflated over time. 00:05:02.279 --> 00:05:04.700 So their purchasing power doesn't go down. 00:05:05.959 --> 00:05:08.440 It's just a boat on a lake of water 00:05:08.440 --> 00:05:11.799 and then they can continue their bookkeeping shenanigans, 00:05:11.799 --> 00:05:14.079 because it's all just bookkeeping, right? 00:05:14.079 --> 00:05:15.279 But I think if you, 00:05:16.440 --> 00:05:19.359 it does help them from an inflationary perspective 00:05:19.359 --> 00:05:22.440 if people's, if they have the asset spread around 00:05:22.440 --> 00:05:23.600 to as many people as possible, right? 00:05:23.600 --> 00:05:25.359 Like let's just run the hypothetical, right? 00:05:25.359 --> 00:05:27.359 Like let's say they get Bitcoin 00:05:27.359 --> 00:05:30.200 into a bunch of retirement accounts 00:05:30.200 --> 00:05:31.799 and then you have this like infinite bid, 00:05:31.799 --> 00:05:32.920 kind of like the S&P. 00:05:34.000 --> 00:05:37.119 Americans are buying this weekly 00:05:37.119 --> 00:05:38.119 in their retirement accounts. 00:05:38.119 --> 00:05:40.160 Everybody owns a little bit of Bitcoin. 00:05:40.160 --> 00:05:41.600 And over the next 30 or 40 years, 00:05:42.079 --> 00:05:44.359 they can print a bunch of money. 00:05:44.359 --> 00:05:46.399 The value of Bitcoin goes up. 00:05:46.399 --> 00:05:48.200 People's purchasing power or their wealth 00:05:48.200 --> 00:05:49.920 feels like it hasn't gone down. 00:05:51.920 --> 00:05:53.440 I think you could make the argument 00:05:53.440 --> 00:05:57.399 that gold would do that as well, just price-wise. 00:05:57.399 --> 00:05:59.059 But again, like. 00:06:02.059 --> 00:06:03.679 There's another thing that's interesting about gold 00:06:03.679 --> 00:06:06.200 and that it's generationally, 00:06:06.200 --> 00:06:09.679 like millennials literally have Bitcoin 00:06:10.640 --> 00:06:12.399 and boomers do not. 00:06:12.399 --> 00:06:14.559 Most of them do not get it, but they do have gold 00:06:14.559 --> 00:06:15.399 and they get gold, 00:06:15.399 --> 00:06:17.000 especially if they've been investing for a long time. 00:06:17.000 --> 00:06:19.559 They understand the systemic risks of things 00:06:19.559 --> 00:06:20.399 and all this other stuff. 00:06:20.399 --> 00:06:21.239 They're like, okay, cool. 00:06:21.239 --> 00:06:23.480 When things get really inflationary, 00:06:23.480 --> 00:06:25.640 obviously you go to gold. 00:06:25.640 --> 00:06:30.640 So, but to your thesis of 20 to 40 years out, 00:06:31.119 --> 00:06:36.119 well, there's no more boomers with us 20 years out, 00:06:36.600 --> 00:06:37.440 honestly. 00:06:38.359 --> 00:06:41.519 So, what does that do to gold? 00:06:43.000 --> 00:06:45.640 Yeah, I think gold's done, it's over. 00:06:45.640 --> 00:06:47.839 We're in the information age, we're in the digital age. 00:06:47.839 --> 00:06:50.140 We're no longer using an analog sort of value. 00:06:51.559 --> 00:06:52.640 I think it's done, it's dead. 00:06:52.640 --> 00:06:54.200 They gotta let it go. 00:06:55.920 --> 00:06:59.519 And hey, maybe it's just a giant smoke screen 00:07:01.279 --> 00:07:04.399 while the US continues to accumulate Bitcoin 00:07:04.399 --> 00:07:06.519 and US citizens continue to accumulate Bitcoin. 00:07:06.519 --> 00:07:09.559 And more importantly, US corporations accumulate Bitcoin. 00:07:11.160 --> 00:07:13.000 That is actually the one thing 00:07:13.000 --> 00:07:14.359 that I was thinking about a lot today 00:07:14.359 --> 00:07:17.640 is was the, you know, 00:07:17.640 --> 00:07:19.640 everybody's talking about GME, GME, GME, 00:07:19.640 --> 00:07:22.320 you know, is GameStop can actually like do something. 00:07:22.320 --> 00:07:26.679 And I think what's fascinating about that though 00:07:26.679 --> 00:07:31.679 is, you know, it's corporate theater for sure. 00:07:33.799 --> 00:07:35.559 You know, Ryan Cohen could come on 00:07:35.559 --> 00:07:37.679 and just be like, we're gonna buy a bunch of Bitcoin. 00:07:37.679 --> 00:07:40.399 And it's like, it's gonna drive the price up for a second. 00:07:41.920 --> 00:07:44.559 But it's not corporate theater that can be ignored 00:07:44.559 --> 00:07:47.440 because as soon as somebody does that, 00:07:47.440 --> 00:07:51.279 as soon as like a GME with like 4.7 billion, 00:07:51.279 --> 00:07:52.320 I think is what they have on their books, 00:07:52.320 --> 00:07:54.440 just like book value of cash. 00:07:54.440 --> 00:07:56.799 Assume it is somebody that's not sailor, 00:07:56.799 --> 00:08:00.880 that's more of a mainstream retail outlet 00:08:00.880 --> 00:08:05.200 starts just piling on the Bitcoin. 00:08:05.839 --> 00:08:08.399 The space race for Bitcoin begins, in my opinion, 00:08:08.399 --> 00:08:12.119 because it's like Apple can't ignore that. 00:08:12.119 --> 00:08:14.799 If like Utah starts buying, 00:08:14.799 --> 00:08:17.279 I think I just saw Utah's one vote away 00:08:17.279 --> 00:08:22.279 from actually starting to put like Bitcoin on their books. 00:08:22.359 --> 00:08:23.760 I think there's a couple others. 00:08:23.760 --> 00:08:24.600 I can't remember the account. 00:08:24.600 --> 00:08:27.160 There's a couple accounts that are like tracking 00:08:27.160 --> 00:08:31.760 the Bitcoin strategic reserves for the, you know, 00:08:31.760 --> 00:08:33.280 for the States. 00:08:33.320 --> 00:08:35.440 I think you're right though, Zach, 00:08:35.440 --> 00:08:38.200 in that, you know, it's a marketing, 00:08:38.200 --> 00:08:40.280 I think it actually is a marketing problem. 00:08:40.280 --> 00:08:45.280 And the problem that Trump is in is the Fort Knox, 00:08:46.559 --> 00:08:50.359 Fort Knox to me feels like the Gulf of America. 00:08:50.359 --> 00:08:53.280 And what I mean by that is I want the dumbest people 00:08:53.280 --> 00:08:56.000 in the world to just scream at me for something stupid, 00:08:56.000 --> 00:08:58.080 like going into Fort Knox and auditing it, 00:08:58.080 --> 00:09:01.000 or like renaming the Gulf of Mexico, the Gulf of America. 00:09:01.000 --> 00:09:02.440 So I can do my actual work, 00:09:02.440 --> 00:09:03.679 which in this case, in my opinion, 00:09:03.679 --> 00:09:05.559 monetarily is buying Bitcoin. 00:09:05.559 --> 00:09:09.400 So I do actually think it's political theater intentionally 00:09:09.400 --> 00:09:11.960 because, and I've talked about this at our meetup, 00:09:13.520 --> 00:09:15.520 I don't think a Bitcoin strategic reserve 00:09:15.520 --> 00:09:18.200 for America happens until 2027. 00:09:18.200 --> 00:09:20.359 And the reason for that, in my opinion, 00:09:20.359 --> 00:09:24.000 is they're stacking their asses off in the background 00:09:24.000 --> 00:09:27.679 because the second a Bitcoin strategic reserve happens, 00:09:27.679 --> 00:09:29.200 the price skyrockets. 00:09:29.239 --> 00:09:32.599 The second it's like the US is doing an SBR, it's over. 00:09:32.599 --> 00:09:37.119 Well, yeah, and I think I'm very much on the like, 00:09:37.119 --> 00:09:39.559 the corporations are more important than individuals 00:09:39.559 --> 00:09:41.799 or governments buying Bitcoin. 00:09:41.799 --> 00:09:43.760 The corporations, the corporate world 00:09:43.760 --> 00:09:46.440 has much more collateral. 00:09:46.440 --> 00:09:51.400 You know, there's much more money for them to borrow money 00:09:51.400 --> 00:09:53.960 against their current balance sheet to buy Bitcoin 00:09:53.960 --> 00:09:56.760 than a government can just go and print money. 00:09:56.760 --> 00:10:00.000 But I think the key thing here is that 00:10:00.000 --> 00:10:03.799 the actual best way to my point previously 00:10:03.799 --> 00:10:06.880 about getting as many people on the boat 00:10:06.880 --> 00:10:08.520 to protect themselves against inflation 00:10:08.520 --> 00:10:10.599 is to just get the corporations 00:10:10.599 --> 00:10:14.200 that are already in these index funds to own Bitcoin. 00:10:14.200 --> 00:10:15.719 Because now you have, 00:10:15.719 --> 00:10:18.000 that's the easiest way to get every normie 00:10:18.000 --> 00:10:19.880 who's never gonna buy Bitcoin on their own 00:10:19.880 --> 00:10:22.039 or even care about Bitcoin to own Bitcoin. 00:10:22.039 --> 00:10:25.440 Because now the stocks of the companies that own Bitcoin 00:10:25.440 --> 00:10:27.359 are gonna start rising with the price of Bitcoin 00:10:27.359 --> 00:10:29.200 and all of the people who have retirement accounts 00:10:29.200 --> 00:10:32.760 or stocks that, you know, 00:10:32.760 --> 00:10:35.400 is comprised of all of these companies owning Bitcoin, 00:10:35.400 --> 00:10:36.880 that's gonna protect them from inflation 00:10:36.880 --> 00:10:38.679 more than convincing a bunch of people to buy the thing. 00:10:38.679 --> 00:10:40.719 So I think their mission has to be 00:10:40.719 --> 00:10:43.039 get it onto the balance sheet of as many corporations 00:10:43.039 --> 00:10:44.599 as possible in the United States 00:10:44.599 --> 00:10:45.960 before they turn on the spigot, 00:10:45.960 --> 00:10:47.359 before they turn on the money printer. 00:10:47.359 --> 00:10:49.039 And that protects American citizens who are, 00:10:49.039 --> 00:10:50.479 at least who are invested 00:10:50.479 --> 00:10:53.320 against the worst parts of inflation. 00:10:53.359 --> 00:10:54.239 Yeah. 00:10:54.239 --> 00:10:56.960 Do you guys think we can do what Elon is saying 00:10:56.960 --> 00:11:00.239 where it's, we're gonna have a 0% inflation year? 00:11:00.239 --> 00:11:01.640 You know, or is that gonna happen 00:11:01.640 --> 00:11:05.599 or is that just, you know, more bloviating? 00:11:05.599 --> 00:11:06.440 I don't know. 00:11:06.440 --> 00:11:07.280 I don't think so. 00:11:07.280 --> 00:11:12.280 So in a post like Bitcoin hyper Bitcoin, 00:11:12.320 --> 00:11:14.599 the hyper Bitcoinization world, 00:11:14.599 --> 00:11:19.599 every currency has to be 0%. 00:11:19.599 --> 00:11:21.919 And that's like, it's like a Nash equilibrium thing 00:11:21.919 --> 00:11:23.359 where it's like, if you have a currency 00:11:23.359 --> 00:11:28.080 that's more than 0%, well, you're fucking yourself. 00:11:28.080 --> 00:11:30.239 Like everybody knows that everybody, 00:11:30.239 --> 00:11:31.719 like you're not competitive. 00:11:31.719 --> 00:11:35.539 Everyone's gonna sell your currency for the 0% currency. 00:11:37.239 --> 00:11:38.919 So like, there's no reason. 00:11:38.919 --> 00:11:41.119 Currency's become like a stable coin, basically. 00:11:41.119 --> 00:11:42.840 Yeah, there's no reason for any of it, 00:11:42.840 --> 00:11:43.799 there's no reason for any of it 00:11:43.799 --> 00:11:45.919 in a post hyper Bitcoinization world. 00:11:45.919 --> 00:11:48.200 Now, until we get that place, until people, 00:11:48.200 --> 00:11:53.200 until like the, you know, the economics of scale 00:11:53.359 --> 00:11:58.359 and efficient economics, like play their roles, 00:11:58.840 --> 00:12:00.919 like where everyone kind of knows this, 00:12:00.919 --> 00:12:02.799 until we get to the place where everyone knows it, 00:12:02.799 --> 00:12:04.099 it's not gonna matter. 00:12:05.400 --> 00:12:07.400 Yeah, yeah. 00:12:08.760 --> 00:12:10.679 And the other thing too, you gotta keep in mind 00:12:10.679 --> 00:12:12.799 that we're still in a debt-based system. 00:12:12.799 --> 00:12:15.479 And if you start to see, you know, 00:12:15.479 --> 00:12:17.200 we're saying inflation at 0%, 00:12:17.200 --> 00:12:18.799 but like we have to define what that means. 00:12:18.799 --> 00:12:23.599 You know, you can't, it would be a catastrophic problem 00:12:23.599 --> 00:12:25.479 if you started to see housing 00:12:25.479 --> 00:12:28.320 go through a deflationary situation. 00:12:28.320 --> 00:12:29.799 That totally fucks the entire system, 00:12:29.799 --> 00:12:31.159 that fucks the banks, 00:12:31.159 --> 00:12:33.239 that fucks everybody who has a mortgage. 00:12:33.239 --> 00:12:34.820 They can't have that. 00:12:35.919 --> 00:12:38.159 So, you know, maybe the price of eggs goes down, 00:12:38.159 --> 00:12:40.960 like maybe, you know, things that are produced 00:12:40.960 --> 00:12:42.440 and manufactured, like, okay, that's cool. 00:12:42.440 --> 00:12:43.679 But you still gotta keep in mind 00:12:43.679 --> 00:12:47.400 that most of those businesses are in debt. 00:12:47.400 --> 00:12:49.539 They're borrowing money to run their businesses. 00:12:49.539 --> 00:12:52.400 And, you know, they just can't have debt, 00:12:52.400 --> 00:12:54.520 they can't have the debt deflate 00:12:55.520 --> 00:12:57.159 or the banking system collapses. 00:12:57.159 --> 00:12:59.219 So, you know, I think it just, 00:12:59.219 --> 00:13:02.559 it has to be this really long-term, you know, 00:13:02.559 --> 00:13:05.200 like the plane we're at's already at 35,000 feet. 00:13:05.200 --> 00:13:06.840 We're trying to get everybody onto another plane, 00:13:06.840 --> 00:13:07.919 but you can't land the plane. 00:13:07.919 --> 00:13:10.159 You have to do it in air, you know, 00:13:10.159 --> 00:13:12.719 and it's gonna take a long time to do that. 00:13:12.719 --> 00:13:14.960 So what you're saying is we shouldn't put DEI 00:13:14.960 --> 00:13:18.400 in the cockpit and send them to Toronto from- 00:13:18.400 --> 00:13:19.719 I am not- Actually. 00:13:19.719 --> 00:13:21.599 I'm a merit-based individual. 00:13:21.599 --> 00:13:24.239 Whoever the best pilot is, let them fly it. 00:13:24.239 --> 00:13:26.200 Hey, let's be real, though. 00:13:26.200 --> 00:13:28.159 They all survived, right? 00:13:28.159 --> 00:13:30.880 You know, the plane looked a little jank when it was done, 00:13:30.880 --> 00:13:32.080 but, you know. 00:13:32.080 --> 00:13:32.900 It'll fly again. 00:13:32.900 --> 00:13:33.739 It's good. 00:13:33.739 --> 00:13:34.580 It's good to go. 00:13:34.580 --> 00:13:35.400 Oh, yeah, that's true. 00:13:35.400 --> 00:13:36.400 Let's put some duct tape on it. 00:13:36.400 --> 00:13:37.400 So this is one of the things 00:13:37.400 --> 00:13:38.400 that I've been thinking about recently 00:13:38.400 --> 00:13:39.880 is like the nature of debt 00:13:39.880 --> 00:13:42.359 and how much that's gonna change. 00:13:42.880 --> 00:13:45.320 Because literally, our entire world 00:13:46.239 --> 00:13:48.260 is literally predicated on debt. 00:13:48.260 --> 00:13:50.640 Like, I've had this thought experiment 00:13:50.640 --> 00:13:53.799 that I've just kind of like runs in the back of my mind, 00:13:53.799 --> 00:13:56.000 like when I'm out about. 00:13:56.000 --> 00:13:59.140 Yesterday, I was in Westwood, right? 00:13:59.140 --> 00:14:00.719 And I was like, 00:14:00.719 --> 00:14:02.780 oh, I wonder how much a home is in Westwood. 00:14:02.780 --> 00:14:03.760 Like, what's the real estate here? 00:14:03.760 --> 00:14:06.679 And it's like $5 million for like a three-bedroom home. 00:14:06.679 --> 00:14:08.960 It's like, this is insane. 00:14:08.960 --> 00:14:09.960 And then you're trying to think about that. 00:14:09.960 --> 00:14:11.400 Like, how can you justify those prices? 00:14:11.400 --> 00:14:14.840 Okay, so it's like, well, that person makes, 00:14:14.840 --> 00:14:17.760 they have to make over $500,000 a year 00:14:17.760 --> 00:14:21.099 just to like afford the down payment on a house like that. 00:14:21.099 --> 00:14:21.940 Right? 00:14:21.940 --> 00:14:23.159 Okay, well, but then it's like, 00:14:23.159 --> 00:14:25.760 so this is not that, it's like, 00:14:25.760 --> 00:14:28.000 the reality of the situation is that they're in, 00:14:28.000 --> 00:14:30.020 to buy a house like that, you have to have, 00:14:30.020 --> 00:14:35.020 you're in two, three, four million dollars of debt, right? 00:14:35.659 --> 00:14:38.400 Now, to Zach's point, you are, 00:14:38.400 --> 00:14:43.400 your life is over if the debt is not inflating away. 00:14:43.440 --> 00:14:45.559 Like, it's like your life is literally over. 00:14:45.559 --> 00:14:47.599 You can, you will never be able to, 00:14:47.599 --> 00:14:50.039 especially if the currency itself 00:14:50.039 --> 00:14:53.080 is a deflationary currency, like Bitcoin, 00:14:53.080 --> 00:14:56.080 and your debt is denominated in a deflationary currency, 00:14:56.080 --> 00:14:57.479 your life is over. 00:14:57.479 --> 00:15:02.059 Okay, so how does this play out going forward? 00:15:02.059 --> 00:15:04.599 Like, what are we going to be, like, you know, 00:15:06.000 --> 00:15:08.380 is there a potential for a black swan 00:15:09.219 --> 00:15:10.419 where it's like, nope, we're all going, 00:15:10.419 --> 00:15:13.659 like, all currencies go to 0% inflation 00:15:13.659 --> 00:15:15.940 because they can't sustain it, anybody, 00:15:15.940 --> 00:15:17.500 and then everybody gets fucked who's in debt, 00:15:17.500 --> 00:15:19.500 which is literally everybody. 00:15:19.500 --> 00:15:20.979 The thought experiment is like, 00:15:20.979 --> 00:15:23.659 including the banks and everybody else. 00:15:23.659 --> 00:15:28.619 So, you know, does, like, is there some real risk there? 00:15:28.619 --> 00:15:30.739 Like, how do you even quantify that risk? 00:15:30.739 --> 00:15:32.380 Because this is an existential risk 00:15:32.380 --> 00:15:34.640 to the entire system, right? 00:15:35.479 --> 00:15:37.440 I want to play that out. 00:15:37.440 --> 00:15:40.000 So let's say that happens, you know, 00:15:40.000 --> 00:15:42.640 on January 4th for whatever reason, 00:15:42.640 --> 00:15:44.840 or sorry, July 4th for whatever reason, you know, 00:15:44.840 --> 00:15:47.599 just we have an Independence Day crash. 00:15:48.760 --> 00:15:53.760 What's interesting to me about that as a thought experiment 00:15:53.760 --> 00:15:58.359 is like, say for some reason we have the banks are closed, 00:15:58.359 --> 00:16:01.679 everything's broken, we have a monetary incident 00:16:01.679 --> 00:16:04.880 where we have Weimar hyperinflation overnight. 00:16:06.719 --> 00:16:09.159 What's interesting to me about that is we have the ETFs 00:16:09.159 --> 00:16:12.280 and we have the owner of the majority 00:16:12.280 --> 00:16:14.080 of the banking system, BlackRock, 00:16:14.080 --> 00:16:18.080 and Fidelity, like that co-mingled cohort of the banks, 00:16:18.080 --> 00:16:19.559 right, because they are, oh, they, you know, 00:16:19.559 --> 00:16:21.239 who's the largest holder of JPMorgan Chase? 00:16:21.239 --> 00:16:22.080 BlackRock. 00:16:22.080 --> 00:16:23.479 Who's the largest holder of Citibank? 00:16:23.479 --> 00:16:24.320 BlackRock. 00:16:24.320 --> 00:16:27.239 It's like, they have BlackRock on their books, right? 00:16:27.239 --> 00:16:28.940 Or like BlackRock has everybody on their books 00:16:28.940 --> 00:16:29.919 and they're all on everybody's books. 00:16:29.919 --> 00:16:32.479 It's just this co-mingled crazy. 00:16:32.479 --> 00:16:33.840 Like, what do you think that, like, 00:16:33.840 --> 00:16:37.520 so what then happens on January 6th, 00:16:37.520 --> 00:16:39.520 or July 6th when the markets open? 00:16:39.520 --> 00:16:42.599 Like, you know, what happens? 00:16:43.640 --> 00:16:46.559 I mean, I just, I don't think that we, 00:16:46.559 --> 00:16:51.559 Weimar's done, that mechanic is done, that's over. 00:16:53.299 --> 00:16:54.719 The risk is not to the downside, 00:16:54.719 --> 00:16:57.179 the risk is to the upside, that we have a melt-up. 00:16:57.179 --> 00:16:59.700 Because they have to protect the institutions, 00:17:00.479 --> 00:17:01.419 they're gonna have to continue to print more money 00:17:01.419 --> 00:17:04.459 to make sure that their balance sheets aren't at zero 00:17:04.459 --> 00:17:07.420 and that there isn't a revolution in the streets. 00:17:07.420 --> 00:17:10.819 That's what they have to protect themselves against. 00:17:10.819 --> 00:17:15.819 And I just don't, I don't see a 20-style crash 00:17:16.979 --> 00:17:19.579 or a Weimar-style crash downwards. 00:17:19.579 --> 00:17:20.939 I'm talking up, by the way. 00:17:20.939 --> 00:17:23.020 Weimar was up, Weimar wasn't down. 00:17:23.020 --> 00:17:25.380 Yeah, but I mean, in terms of purchasing power. 00:17:26.339 --> 00:17:31.099 So, you know, like, you can't, 00:17:34.819 --> 00:17:37.579 I don't think it happens, excuse me. 00:17:37.579 --> 00:17:39.579 I don't think that it happens overnight. 00:17:41.380 --> 00:17:43.060 I think they pretty much, you know, 00:17:43.060 --> 00:17:44.380 okay, go back to 2008, right? 00:17:44.380 --> 00:17:46.219 They had never printed that much money, 00:17:46.219 --> 00:17:50.180 they had never created a legal facility to do that before. 00:17:50.180 --> 00:17:52.500 And now that's like the primary tool in their bag, right? 00:17:52.500 --> 00:17:54.979 Just shore up the balance sheets. 00:17:55.579 --> 00:17:57.939 We saw this, you know, with the BTFB or whatever, 00:17:57.939 --> 00:18:00.900 the BTFP program, where they just, 00:18:00.900 --> 00:18:03.060 they're gonna come up with more sophisticated ways 00:18:03.060 --> 00:18:05.819 of just papering over the cracks. 00:18:06.699 --> 00:18:09.979 And I just, I don't see that happening instantly. 00:18:09.979 --> 00:18:12.900 And I think, I would go so far as to say that 00:18:12.900 --> 00:18:15.180 I think that they're trying to, 00:18:17.780 --> 00:18:21.979 this is a controlled demolition of the current system 00:18:21.979 --> 00:18:24.979 and they wanna do it as orderly as they possibly can. 00:18:26.579 --> 00:18:28.420 Do you think they will be successful? 00:18:29.579 --> 00:18:30.420 Yeah, I do. 00:18:30.420 --> 00:18:31.260 I think that's a great question. 00:18:31.260 --> 00:18:32.699 I do. 00:18:32.699 --> 00:18:33.540 Yeah. 00:18:33.540 --> 00:18:35.099 How could they fail? 00:18:35.099 --> 00:18:37.420 Yeah, they de facto have to be successful. 00:18:37.420 --> 00:18:40.939 The legacy system is entirely centrally controlled. 00:18:40.939 --> 00:18:43.819 Like there's no, it's like, oh, you're too big to fail. 00:18:43.819 --> 00:18:45.699 Like that exists. 00:18:45.699 --> 00:18:48.739 Like it's just, oh, we can just not have this bank fail 00:18:48.739 --> 00:18:51.300 because it's all 100% centrally controlled. 00:18:51.300 --> 00:18:53.619 So like that system is gonna continue on 00:18:53.619 --> 00:18:54.979 however it continues on. 00:18:54.979 --> 00:18:58.380 And it's gonna be less and less relevant as it continues on, 00:18:58.380 --> 00:19:00.939 but it's not gonna be like, to Zach's point, 00:19:00.939 --> 00:19:04.339 there's no Weimar collapse in any of that. 00:19:04.339 --> 00:19:05.900 That's just goofy. 00:19:05.900 --> 00:19:07.180 I think the way that it fails 00:19:07.180 --> 00:19:08.699 is you elect somebody like Kamala, right? 00:19:08.699 --> 00:19:10.219 You elect a bunch of leftists 00:19:11.459 --> 00:19:14.300 and people who are like depopulationists 00:19:14.300 --> 00:19:16.699 who don't understand how the current system works 00:19:16.699 --> 00:19:18.819 and want the system to collapse in the first place. 00:19:18.819 --> 00:19:19.819 Like deep down in their hearts, 00:19:19.819 --> 00:19:22.020 they want there to be chaos and destruction. 00:19:22.020 --> 00:19:23.180 I think that's how it fails. 00:19:23.180 --> 00:19:25.020 But if you have, you know, 00:19:25.020 --> 00:19:28.780 people who understand the dynamic running things, 00:19:28.780 --> 00:19:30.780 like, you know, I mean, look at Trump's cabinet, right? 00:19:30.780 --> 00:19:32.260 You got Lutnick, you know, 00:19:32.260 --> 00:19:35.339 all of these people understand how the system works. 00:19:35.339 --> 00:19:36.939 And it's not in their, 00:19:36.939 --> 00:19:38.339 it's certainly not in their interest 00:19:38.339 --> 00:19:39.660 to let the thing collapse. 00:19:39.660 --> 00:19:43.199 So I think the biggest threat is who's in charge. 00:19:44.739 --> 00:19:46.900 You know, and I don't know, 00:19:47.500 --> 00:19:50.660 you guys remember Game of Thrones? 00:19:50.660 --> 00:19:54.819 There's that scene where it was so prescient, 00:19:54.819 --> 00:19:57.060 like there's all this chaos going on, 00:19:57.060 --> 00:19:58.060 there's all this war, 00:19:58.060 --> 00:19:59.380 and then they have to go to the bank, 00:19:59.380 --> 00:20:00.739 you know, whatever that city was called, 00:20:00.739 --> 00:20:02.500 and like borrow money for the war. 00:20:02.500 --> 00:20:05.140 And it's like, oh man, yeah, yeah. 00:20:05.140 --> 00:20:06.060 They totally nailed that, 00:20:06.060 --> 00:20:08.060 which is to say the bank, 00:20:08.060 --> 00:20:09.859 if evil people are running the world 00:20:09.859 --> 00:20:11.300 and they want things to be destroyed, 00:20:11.300 --> 00:20:12.140 then the banks are gonna do 00:20:12.140 --> 00:20:12.979 what the banks are gonna do, 00:20:12.979 --> 00:20:15.099 which is they're gonna lend to both sides 00:20:15.099 --> 00:20:17.339 and whoever wins owes them a bunch of money. 00:20:18.660 --> 00:20:22.339 That's, I think, the worst outcome possible. 00:20:22.339 --> 00:20:23.260 But if you don't have a bunch 00:20:23.260 --> 00:20:25.180 of total psychopaths running the thing, 00:20:26.540 --> 00:20:27.859 they make the banks happy, 00:20:27.859 --> 00:20:29.699 they make themselves happy, 00:20:29.699 --> 00:20:31.459 and we do this long transition 00:20:31.459 --> 00:20:33.140 into a new monetary world order, 00:20:33.140 --> 00:20:35.939 which is pretty clearly what's happening. 00:20:35.939 --> 00:20:38.300 Do you think the Rockefellers have a fat stack? 00:20:40.180 --> 00:20:41.540 I don't know, probably. 00:20:41.540 --> 00:20:42.660 Why wouldn't they? 00:20:42.660 --> 00:20:44.699 I'm pretty sure they've had Bitcoin exposure 00:20:45.300 --> 00:20:49.579 since GBTC was launched originally 00:20:49.579 --> 00:20:54.020 through various whatever shell companies, et cetera. 00:20:54.020 --> 00:20:57.060 They had a substantial amount of GBTC 00:20:57.060 --> 00:20:58.939 shortly after it was launched, yeah. 00:20:58.939 --> 00:21:03.420 It's like the Walt Disney of buying real estate. 00:21:03.420 --> 00:21:05.459 And kind of back to my point, 00:21:05.459 --> 00:21:08.339 Rockefeller has exposure to all of these other companies. 00:21:08.339 --> 00:21:09.500 So the key thing is to make sure 00:21:09.500 --> 00:21:10.660 that Bitcoin is on the balance sheet 00:21:10.660 --> 00:21:11.900 of all the big companies. 00:21:12.859 --> 00:21:14.699 Rockefeller already owns everything else. 00:21:14.699 --> 00:21:16.900 So just make sure that the people they own own Bitcoin 00:21:16.900 --> 00:21:18.420 and then now they own it. 00:21:19.420 --> 00:21:21.099 Yeah, and I agree with that. 00:21:21.099 --> 00:21:22.819 And I think that's kind of where I was trying to go 00:21:22.819 --> 00:21:27.819 with the question is, I guess it's like, 00:21:28.660 --> 00:21:31.819 what kind of an incident would it take 00:21:31.819 --> 00:21:32.660 for the people to be like, 00:21:32.660 --> 00:21:33.859 the emperor has no clothes on? 00:21:33.859 --> 00:21:35.739 I do think Fort Knox is one of those moments 00:21:35.739 --> 00:21:38.660 where it's like, there's nothing here. 00:21:38.660 --> 00:21:40.459 And I don't think that would be good. 00:21:41.180 --> 00:21:42.140 And if that was the case, 00:21:42.140 --> 00:21:45.540 I don't think Trump would do a walkthrough of Fort Knox. 00:21:45.540 --> 00:21:47.180 Like they're not gonna do a walkthrough of Fort Knox 00:21:47.180 --> 00:21:48.739 if it's empty, right? 00:21:48.739 --> 00:21:50.579 Something else that could happen though 00:21:50.579 --> 00:21:53.819 is that they can do a walkthrough of Fort Knox 00:21:53.819 --> 00:21:56.020 and everybody, I mean, you can already look at videos 00:21:56.020 --> 00:21:58.699 of them doing like whatever the gold depository 00:21:58.699 --> 00:22:00.420 in England is. 00:22:00.420 --> 00:22:02.500 They can do a walkthrough and people will be like, 00:22:02.500 --> 00:22:06.099 there are these undecorative pallets 00:22:06.099 --> 00:22:10.900 of what looked like bricks just sitting on the ground. 00:22:10.900 --> 00:22:13.099 There's nothing special about it. 00:22:13.099 --> 00:22:14.380 And then people start talking about it 00:22:14.380 --> 00:22:18.020 and they're like, wait, we're not on a gold standard anymore. 00:22:18.020 --> 00:22:18.859 What is this? 00:22:18.859 --> 00:22:20.420 What does this gold actually do? 00:22:20.420 --> 00:22:22.020 It doesn't do anything. 00:22:22.020 --> 00:22:23.459 And then people start thinking about it 00:22:23.459 --> 00:22:24.339 and they're like, wait a second, 00:22:24.339 --> 00:22:26.380 we're not on a gold standard anymore. 00:22:26.380 --> 00:22:27.859 The gold doesn't have any meaning. 00:22:27.859 --> 00:22:30.699 And so it might actually end up doing the opposite 00:22:30.699 --> 00:22:32.060 of what they want it to do 00:22:32.060 --> 00:22:34.380 by showing that it's actually there. 00:22:34.380 --> 00:22:37.099 It may lose all of its meaning and luster 00:22:37.099 --> 00:22:37.939 for lack of a better term. 00:22:37.939 --> 00:22:40.300 Do you think enough people are smart enough for that though? 00:22:40.300 --> 00:22:41.739 And it's like, I don't mean that in a mean way, 00:22:41.739 --> 00:22:44.300 but there are a very large contingent. 00:22:44.300 --> 00:22:46.939 And I would argue probably 70 to 80% of people in the world 00:22:46.939 --> 00:22:51.780 who just want to punch a time card 00:22:51.780 --> 00:22:54.260 and be told what to do and where to go and what to eat. 00:22:54.260 --> 00:22:56.339 And then McDonald's is healthy for you and all that stuff. 00:22:56.339 --> 00:22:59.380 Like, are there enough people to actually like, 00:22:59.380 --> 00:23:00.939 like they have faith in this system 00:23:00.939 --> 00:23:02.819 because it's just easier. 00:23:02.819 --> 00:23:05.900 It takes all the processing power off of their brains 00:23:05.900 --> 00:23:08.099 and they're just like, cool, this is great. 00:23:09.219 --> 00:23:10.739 Yeah, that's most people. 00:23:10.739 --> 00:23:14.339 I mean, most people are just, 00:23:14.339 --> 00:23:18.859 they're just using the dollar out of total convenience. 00:23:18.859 --> 00:23:22.020 And as long as everything's semi operates 00:23:22.020 --> 00:23:23.339 the way that it does, 00:23:23.339 --> 00:23:27.699 whether inflation is 2% or 8%, they don't rise up. 00:23:27.699 --> 00:23:29.900 It's like we've watched house prices double 00:23:29.900 --> 00:23:31.500 over the last two years, 00:23:31.500 --> 00:23:35.260 grocery prices triple and nothing changed. 00:23:35.260 --> 00:23:39.060 So yeah, I mean, this whole Fort Knox thing 00:23:39.060 --> 00:23:42.099 will be a very slow, 00:23:42.099 --> 00:23:44.380 it'll be just a little piece of the awakening 00:23:44.380 --> 00:23:46.699 for everybody to realize that 00:23:46.699 --> 00:23:48.780 what we've all already realized. 00:23:48.780 --> 00:23:51.660 So I don't think it's gonna like be this fundamental change 00:23:51.660 --> 00:23:52.579 in everybody's mentality. 00:23:52.579 --> 00:23:55.579 It's just one more thing to make people 00:23:55.579 --> 00:23:57.780 just take a second to question 00:23:57.780 --> 00:24:01.020 why our currency has any value. 00:24:02.180 --> 00:24:04.380 Yeah, I mean, like the, 00:24:04.380 --> 00:24:05.219 who is it? 00:24:05.219 --> 00:24:07.180 Maxine Waters or somebody was like, 00:24:07.180 --> 00:24:10.739 the Fed, the Federal Reserve Bank 00:24:10.739 --> 00:24:13.619 is a government run institution. 00:24:13.619 --> 00:24:16.020 And it's just like, no, 00:24:16.020 --> 00:24:18.459 you don't even understand how any of this stuff works. 00:24:18.459 --> 00:24:20.219 And then you see in 10 points, it's like, 00:24:20.219 --> 00:24:21.939 there's like a whole other level to it 00:24:21.939 --> 00:24:23.420 where it's like, not only do people think 00:24:23.420 --> 00:24:27.060 that the Federal Reserve is a government institution, 00:24:27.060 --> 00:24:30.219 they also believe that the reason any money has value 00:24:30.260 --> 00:24:32.260 is because it's backed by gold. 00:24:32.260 --> 00:24:34.979 Or government bonds are, oh, it's backed. 00:24:34.979 --> 00:24:37.300 Like that's what makes currency have value 00:24:37.300 --> 00:24:38.819 because it's backed. 00:24:38.819 --> 00:24:41.020 Most people think we're on a gold standard. 00:24:42.140 --> 00:24:44.380 Most people think we are still on a gold standard. 00:24:44.380 --> 00:24:46.660 We haven't been on a gold standard in 50, 00:24:46.660 --> 00:24:48.619 more than 50 years. 00:24:48.619 --> 00:24:50.060 And people still don't even know. 00:24:50.060 --> 00:24:53.020 Not only do they think we're on a gold standard. 00:24:53.020 --> 00:24:54.300 Not only do they think we're on a gold standard, 00:24:54.300 --> 00:24:56.219 but they don't even know what that would mean anyway. 00:24:56.219 --> 00:24:57.900 They just go like, oh, I think it's like, 00:24:57.900 --> 00:24:59.900 they wouldn't even know how to unpack it past, 00:25:00.579 --> 00:25:01.780 what does a gold standard mean? 00:25:01.780 --> 00:25:04.300 Sorry, going back, JD, according to Grok, 00:25:04.300 --> 00:25:06.619 the Rockefeller family has exposure to Bitcoin 00:25:06.619 --> 00:25:07.859 in the broader cryptocurrency market 00:25:07.859 --> 00:25:10.260 through their venture capital firm, Venrock. 00:25:10.260 --> 00:25:14.300 In 2018, Venrock announced a partnership with CoinFund, 00:25:14.300 --> 00:25:16.859 a Brooklyn-based cryptocurrency investment firm 00:25:16.859 --> 00:25:19.060 focused on financing blockchain-based businesses. 00:25:19.060 --> 00:25:20.500 So yeah, they, fuck yeah. 00:25:23.020 --> 00:25:27.180 Okay, to my point, their main thing- 00:25:27.180 --> 00:25:29.699 CoinFund is a bunch of shit coiners, but yeah. 00:25:30.699 --> 00:25:32.060 The government needs to make sure 00:25:32.060 --> 00:25:33.459 that people aren't starving to death 00:25:33.459 --> 00:25:34.819 and killing each other in the streets. 00:25:34.819 --> 00:25:35.699 Like they need to make sure 00:25:35.699 --> 00:25:37.579 that there's not a giant revolution. 00:25:37.579 --> 00:25:41.219 And it's gonna be bumpy, but most people don't, 00:25:41.219 --> 00:25:43.380 most human beings are not violent. 00:25:43.380 --> 00:25:45.339 They don't wanna have a revolution. 00:25:45.339 --> 00:25:46.180 They're not gonna fight. 00:25:46.180 --> 00:25:48.219 If you look at what happened in Weimar 00:25:48.219 --> 00:25:51.420 and how fucking horrible that inflation was, 00:25:51.420 --> 00:25:54.140 I mean, people were literally selling their children, 00:25:55.380 --> 00:25:57.420 like in the sex trade to make money. 00:25:57.739 --> 00:26:00.339 Shit was incredibly bad. 00:26:00.339 --> 00:26:01.420 It was Venezuela. 00:26:01.420 --> 00:26:02.660 That's exactly what happened 00:26:02.660 --> 00:26:04.579 and started happening in Venezuela too. 00:26:04.579 --> 00:26:09.579 It's wild, the rhyming of history there, 00:26:11.060 --> 00:26:13.739 where it's like Venezuela and now we're like 50 years apart, 00:26:13.739 --> 00:26:15.780 something like that, maybe a hundred years apart. 00:26:15.780 --> 00:26:16.619 Not that we're a hundred years, 00:26:16.619 --> 00:26:20.260 but I mean, because Weimar was 1920, 00:26:20.260 --> 00:26:21.579 like it was before World War II, 00:26:21.579 --> 00:26:23.380 so it was like 1914, right? 00:26:23.380 --> 00:26:25.020 So 19, the 10s. 00:26:25.060 --> 00:26:27.540 Yeah, 10s to mid-20s. 00:26:27.540 --> 00:26:31.339 And then Venezuela, what, when was that, early 2000s? 00:26:31.339 --> 00:26:32.939 Was when their stuff went out? 00:26:32.939 --> 00:26:35.900 So 70, 80, a fourth turning basically, 80 years? 00:26:35.900 --> 00:26:38.300 I think the thing too is like, 00:26:38.300 --> 00:26:40.339 they're not concerned about what a bunch of people 00:26:40.339 --> 00:26:41.859 who don't understand how the system works 00:26:41.859 --> 00:26:44.500 and don't have any material wealth think anyway. 00:26:44.500 --> 00:26:47.660 They only give a shit about the 20 or 30% of people 00:26:47.660 --> 00:26:49.020 who have wealth. 00:26:49.900 --> 00:26:52.619 That's who they have to convince to do a different thing 00:26:52.619 --> 00:26:54.339 and everybody else will follow along. 00:26:54.339 --> 00:26:56.739 They have to, they don't have a choice. 00:26:56.739 --> 00:26:57.579 Yeah. 00:26:57.579 --> 00:26:58.420 You know what's really interesting 00:26:58.420 --> 00:26:59.300 about where we are right now 00:26:59.300 --> 00:27:02.680 with the extremely wealthy class? 00:27:03.660 --> 00:27:07.060 They're so unimaginably wealthy, 00:27:07.060 --> 00:27:09.699 like we can't even picture what it would be like 00:27:09.699 --> 00:27:11.619 to have an income of a billion dollars 00:27:11.619 --> 00:27:13.140 or what some of these people have, 00:27:13.140 --> 00:27:15.099 but they're not living in castles. 00:27:15.099 --> 00:27:17.339 They, yeah, they have private jets 00:27:17.339 --> 00:27:18.380 and they have a few houses 00:27:18.380 --> 00:27:20.500 and they have like a place in Aspen and they ski 00:27:20.500 --> 00:27:22.339 and maybe they have a yacht and everything, 00:27:22.339 --> 00:27:23.939 but it's not ostentatious wealth. 00:27:24.660 --> 00:27:27.219 When you see Jamie Dimon or something, 00:27:27.219 --> 00:27:28.739 you're like, I mean, he's wearing a suit, 00:27:28.739 --> 00:27:30.300 but he doesn't look that nice. 00:27:30.300 --> 00:27:35.300 So it's just interesting to me that we're not in, 00:27:35.900 --> 00:27:38.660 we as Bitcoiners, we think of like citadels and stuff 00:27:38.660 --> 00:27:40.660 for when there's hyper-Bitcoinization, 00:27:40.660 --> 00:27:43.560 but they're being sly enough 00:27:43.560 --> 00:27:46.500 to not show how extreme the wealth is. 00:27:46.500 --> 00:27:49.140 Yeah, they just, they don't do it in the United States. 00:27:49.140 --> 00:27:51.339 They do it in Monaco and the Caribbean 00:27:51.339 --> 00:27:53.219 and where their fucking boats are. 00:27:53.219 --> 00:27:54.060 Yeah. 00:27:55.619 --> 00:27:57.780 Yeah, it's wild the, 00:27:59.619 --> 00:28:02.180 it's wild the wealth, but I think the difference is 00:28:02.180 --> 00:28:05.339 actually kind of what Zach was talking about is 00:28:05.339 --> 00:28:08.900 back then you essentially had to have a fiefdom. 00:28:08.900 --> 00:28:10.780 You had to have serfs, you had to have people, 00:28:10.780 --> 00:28:13.420 you had to have knights who were willing to die for you. 00:28:13.420 --> 00:28:15.859 Like you actually had to have like, 00:28:15.859 --> 00:28:19.839 just like, you know, meat hooks of people 00:28:19.839 --> 00:28:22.660 to come in there and just like wreck shop 00:28:22.660 --> 00:28:24.619 if somebody wanted to, you know, 00:28:24.619 --> 00:28:25.780 try to conquer your land. 00:28:25.780 --> 00:28:28.020 Cause it was, we didn't have these 00:28:28.020 --> 00:28:29.819 massive institutions of governments. 00:28:29.819 --> 00:28:32.540 And a great book is Snow Crash. 00:28:32.540 --> 00:28:34.140 I'm listening to it right now. 00:28:34.140 --> 00:28:39.140 And, you know, it kind of goes through what happens. 00:28:39.859 --> 00:28:42.260 That's actually where the word metaverse was coined 00:28:42.260 --> 00:28:43.859 was that book by Neil Stevenson. 00:28:45.339 --> 00:28:47.959 And it's just fascinating to kind of like, 00:28:48.859 --> 00:28:51.560 he kind of unpacks a little bit of a return to that 00:28:51.560 --> 00:28:52.640 and like what it looks like. 00:28:52.640 --> 00:28:54.959 And I don't think he's wrong. 00:28:54.959 --> 00:28:57.439 It kind of follows right along with 00:28:57.439 --> 00:28:59.479 the sovereign individual thesis of governments 00:28:59.479 --> 00:29:04.400 kind of become these entities that need to actually 00:29:04.400 --> 00:29:08.359 like provide value for their customers, i.e. the taxpayers. 00:29:08.359 --> 00:29:10.239 And I think we're actually kind of like starting to see 00:29:10.239 --> 00:29:12.760 the chinks in the armor right now, 00:29:12.760 --> 00:29:16.680 where, you know, we're seeing this massive, 00:29:16.680 --> 00:29:21.520 where we are literally watching the Cantillian effect 00:29:21.520 --> 00:29:25.719 being proven in front of our eyes through Doge. 00:29:25.719 --> 00:29:28.819 Like we are watching it in lifetime being exposed. 00:29:28.819 --> 00:29:29.660 Yeah. 00:29:29.660 --> 00:29:34.660 And I hope to God people can get mad enough 00:29:35.000 --> 00:29:37.520 that it can stop. 00:29:37.520 --> 00:29:39.239 And the only way it stops though, 00:29:39.239 --> 00:29:41.260 is actually if people stop paying their taxes. 00:29:41.260 --> 00:29:45.560 If people stop just like accepting 00:29:45.560 --> 00:29:47.119 that what I'm being told is true. 00:29:47.119 --> 00:29:48.479 And, you know, we're seeing a little bit of that 00:29:48.479 --> 00:29:49.880 with like X, like this platform 00:29:49.880 --> 00:29:50.839 and some of the other platforms. 00:29:50.839 --> 00:29:55.640 But the problem is like X is such a small microcosm, 00:29:55.640 --> 00:29:58.920 like Nostra is such a small microcosm of people 00:29:58.920 --> 00:30:02.959 that it's gonna take more Elons and more Satoshis 00:30:03.839 --> 00:30:04.719 to kind of get us there. 00:30:04.719 --> 00:30:06.479 And I guess that's, you know, 00:30:06.479 --> 00:30:07.959 my bigger question from before, 00:30:07.959 --> 00:30:11.800 like if it happened on July 4th is maybe like 00:30:11.800 --> 00:30:13.520 wishful thinking or aspirational thinking, 00:30:13.520 --> 00:30:15.640 because we, you know, I don't wanna go back 00:30:15.640 --> 00:30:16.800 to what we have. 00:30:16.800 --> 00:30:19.280 We don't need more Nancy Pelosi's. 00:30:19.280 --> 00:30:23.560 I don't think we can avoid going back 00:30:24.439 --> 00:30:27.119 as long as we're on a fiat standard. 00:30:27.119 --> 00:30:30.319 The only reason USAID and all this other stuff 00:30:30.319 --> 00:30:32.640 can exist is because of fiat. 00:30:32.640 --> 00:30:37.640 The only reason that the treasury can lose $4.7 billion 00:30:37.640 --> 00:30:39.280 or trillion dollars or whatever, 00:30:39.280 --> 00:30:42.280 because they didn't like add the database entry 00:30:42.280 --> 00:30:46.439 is because fiat is literally BS money to start with. 00:30:46.439 --> 00:30:49.400 Like until the fundamental problem, 00:30:49.400 --> 00:30:53.199 which is the errors in the currency, 00:30:53.199 --> 00:30:56.719 the lack of technological soundness in the currency, 00:30:56.719 --> 00:30:58.239 until that's solved, 00:30:58.239 --> 00:31:01.839 you're always gonna end up with USAID 00:31:01.839 --> 00:31:05.040 like pumping billions of dollars into whatever. 00:31:06.719 --> 00:31:10.680 Yeah, they can lose $2 billion into the Pentagon 00:31:10.680 --> 00:31:12.160 that they can't audit. 00:31:13.000 --> 00:31:14.400 And literally they can just print $2 billion like that. 00:31:14.400 --> 00:31:15.920 And it's just restored. 00:31:15.920 --> 00:31:17.119 It's all good. 00:31:17.119 --> 00:31:21.520 If you lose $2 billion equivalent worth of Bitcoin, 00:31:21.520 --> 00:31:23.119 if you like delete a wall or something, 00:31:23.119 --> 00:31:24.400 it's gone forever. 00:31:24.400 --> 00:31:29.239 And we're currently in a world where 00:31:29.239 --> 00:31:31.680 for the people who are printing the money, 00:31:31.680 --> 00:31:33.160 the numbers don't matter. 00:31:33.160 --> 00:31:34.000 And we're- 00:31:34.000 --> 00:31:36.560 There's no consequences. 00:31:36.560 --> 00:31:37.400 Yeah. 00:31:37.400 --> 00:31:39.819 And the thing is, is that in this system, 00:31:40.660 --> 00:31:43.540 the money is created against collateral. 00:31:45.420 --> 00:31:47.619 And that's how all of this money, 00:31:48.579 --> 00:31:50.900 a tremendous amount of the money enters the system 00:31:50.900 --> 00:31:52.699 is that the banks have the ability 00:31:52.699 --> 00:31:54.260 to create money from nothing 00:31:54.260 --> 00:31:56.420 against some kind of collateral. 00:31:56.420 --> 00:32:01.420 If you take that away, the entire game changes. 00:32:01.699 --> 00:32:02.579 And that's kind of my point. 00:32:02.579 --> 00:32:07.579 Like the crash, it's gonna be such a long process 00:32:08.300 --> 00:32:10.859 because that's not going away anytime soon. 00:32:10.859 --> 00:32:14.099 All of these companies and where the people 00:32:14.099 --> 00:32:16.979 who have the real power who can, 00:32:16.979 --> 00:32:20.339 they don't need to have an income of $1 billion a year. 00:32:20.339 --> 00:32:23.400 They have $5 billion worth of assets 00:32:23.400 --> 00:32:25.579 and they can just go get a loan against any of it 00:32:25.579 --> 00:32:29.099 at nothing percent and do whatever the fuck they want. 00:32:29.099 --> 00:32:30.260 And the only reason that's possible 00:32:30.260 --> 00:32:31.739 is because the bank can print the money from nothing. 00:32:31.739 --> 00:32:33.859 It's not pulling it from depositors. 00:32:33.859 --> 00:32:36.099 It's not pulling it from somewhere else. 00:32:36.099 --> 00:32:40.800 So it's like Jeff Booth's point, right? 00:32:40.800 --> 00:32:45.079 You've got two completely opposite forces at play here. 00:32:46.619 --> 00:32:48.619 And I think they know that. 00:32:48.619 --> 00:32:49.800 I think they understand that. 00:32:49.800 --> 00:32:53.739 And I think that they're going to, 00:32:55.500 --> 00:32:56.500 I was saying this at the meetup, 00:32:56.500 --> 00:32:59.979 but Bitcoin and the dollar need each other right now. 00:32:59.979 --> 00:33:02.859 Bitcoin needs to be used as collateral to print more dollars 00:33:02.859 --> 00:33:05.680 to continue to pump the price of Bitcoin 00:33:06.199 --> 00:33:07.719 to the point where it's worth five or 10 00:33:07.719 --> 00:33:09.000 or 15 or $20 million. 00:33:10.000 --> 00:33:13.040 And the people who run the system now 00:33:13.040 --> 00:33:15.680 are going to see Bitcoin as a better form of collateral. 00:33:15.680 --> 00:33:17.439 And then eventually Bitcoin will complete, 00:33:17.439 --> 00:33:19.800 the dollar will just eventually poof gone 00:33:19.800 --> 00:33:22.040 because Bitcoin will have so much more value. 00:33:22.880 --> 00:33:25.479 And then it's question mark, because at that point, 00:33:26.420 --> 00:33:28.359 I don't know if we go into just a full blown 00:33:28.359 --> 00:33:29.920 Bitcoin deflationary standard, 00:33:29.920 --> 00:33:32.359 or if they continue to try to manage currencies 00:33:32.400 --> 00:33:35.760 against Bitcoin and using Bitcoin as collateral. 00:33:35.760 --> 00:33:40.760 So I think that's very hard to predict 00:33:42.000 --> 00:33:44.839 what happens in that scenario. 00:33:44.839 --> 00:33:49.319 So let's say you have five Bitcoin or 10 Bitcoin or whatever 00:33:49.319 --> 00:33:52.680 and maybe you have a friend who's worth $100 million 00:33:52.680 --> 00:33:57.400 and maybe he puts 100,000 into Bitcoin and buys a Bitcoin. 00:33:57.400 --> 00:33:59.040 Well, your friend with $100 million 00:33:59.040 --> 00:34:01.280 is still way richer than you are. 00:34:01.280 --> 00:34:03.319 And probably $100 million is in assets 00:34:03.319 --> 00:34:04.880 that are paying him cashflow. 00:34:04.880 --> 00:34:07.760 And he's just balling out of control. 00:34:07.760 --> 00:34:10.120 If all of a sudden there's a hyper Bitcoinization 00:34:10.120 --> 00:34:12.600 and now you technically have more Bitcoin, 00:34:12.600 --> 00:34:15.840 he still has the assets, but you now have more Bitcoin 00:34:15.840 --> 00:34:19.600 and technically your net worth is higher than his net worth. 00:34:19.600 --> 00:34:20.620 If this thing happens, 00:34:20.620 --> 00:34:22.560 which we all believe is going to happen, 00:34:22.560 --> 00:34:25.139 what do you think happens to the system 00:34:25.139 --> 00:34:28.840 when all of a sudden you have Bitcoiners all over the world 00:34:28.840 --> 00:34:31.639 and there's this leveled playing field of wealth? 00:34:31.639 --> 00:34:33.840 The wealthy people still have the assets, 00:34:33.840 --> 00:34:37.919 but now the Bitcoiners have basically just a higher net worth 00:34:37.919 --> 00:34:40.139 to where they can also compete for assets. 00:34:41.540 --> 00:34:42.439 What happens then? 00:34:43.520 --> 00:34:46.840 You have a total repricing of everything on the planet 00:34:46.840 --> 00:34:48.120 and you have a bunch of Bitcoiners 00:34:48.120 --> 00:34:50.639 who are gonna start buying shit at a fire sale 00:34:50.639 --> 00:34:54.919 and you're gonna have a totally different cohort mentality 00:34:54.919 --> 00:34:58.000 who's going to be in charge of these businesses. 00:34:58.080 --> 00:35:02.479 They're gonna try and change or retool all these businesses 00:35:02.479 --> 00:35:06.840 to convert their cashflow from US dollars, 00:35:06.840 --> 00:35:07.919 which will be trash. 00:35:07.919 --> 00:35:10.439 All their contracts will just be completely decimated 00:35:10.439 --> 00:35:12.719 because of the inflation in US dollars. 00:35:12.719 --> 00:35:16.120 They'll convert all that to Bitcoin cashflow. 00:35:16.120 --> 00:35:18.840 Cool, you wanna get your car washed at a car wash? 00:35:18.840 --> 00:35:22.120 Hey, we got, you know, it's gonna be whatever, 00:35:22.120 --> 00:35:24.439 a thousand sats, you know? 00:35:24.439 --> 00:35:26.719 I think what's interesting about that is, 00:35:28.040 --> 00:35:30.439 I'm sorry, I'm fighting a cold. 00:35:30.439 --> 00:35:31.760 So it's like every five seconds, 00:35:31.760 --> 00:35:34.840 I end up getting punched in the face, like I have to sneeze. 00:35:34.840 --> 00:35:36.080 Just do it, just sneeze. 00:35:37.639 --> 00:35:38.879 You know, what's gonna be interesting, 00:35:38.879 --> 00:35:40.679 and I'm gonna use Indy Hub as an example, 00:35:40.679 --> 00:35:41.879 but, and I was actually thinking about Indy Hub 00:35:41.879 --> 00:35:43.159 when I was getting off the highway earlier today 00:35:43.159 --> 00:35:45.459 because of the, 00:35:48.479 --> 00:35:51.879 I had a professor in college, Merlin Mann, 00:35:51.879 --> 00:35:52.919 what a fricking awesome name. 00:35:53.360 --> 00:35:54.199 What a name, dude. 00:35:54.199 --> 00:35:55.520 Dude, he was fricking the best. 00:35:55.520 --> 00:35:56.679 He's fricking Merlin. 00:35:57.560 --> 00:35:58.560 And Mann, dude, let's go. 00:35:58.560 --> 00:36:01.560 But he, I started in J school. 00:36:01.560 --> 00:36:03.479 So I started in J school, and then like two years in, 00:36:03.479 --> 00:36:04.800 I was like, this is a crack. 00:36:04.800 --> 00:36:06.080 And I was like, if I wanna make stuff up, 00:36:06.080 --> 00:36:06.919 I'm just gonna make stuff up. 00:36:06.919 --> 00:36:09.199 And so that's when I switched to business. 00:36:09.199 --> 00:36:10.840 But that's literally my thought. 00:36:10.840 --> 00:36:13.879 And that's when I switched to filmmaking. 00:36:13.879 --> 00:36:15.360 Yeah, head of the filmmaking. 00:36:15.360 --> 00:36:17.959 Come on, propaganda, let's just do propaganda. 00:36:17.959 --> 00:36:22.120 And where I was going with this is Merlin had the idea, 00:36:22.120 --> 00:36:23.159 as a journalist, 00:36:24.399 --> 00:36:27.600 because he'd worked for newspapers for a long time, 00:36:27.600 --> 00:36:29.320 he's like, whoever can figure out, 00:36:29.320 --> 00:36:31.399 this was before, and Bitcoin, I guess, had, 00:36:31.399 --> 00:36:32.239 no, it wasn't even out yet, 00:36:32.239 --> 00:36:34.040 because this was before Bitcoin. 00:36:34.040 --> 00:36:36.919 But he's like, whoever can figure out microtransactions 00:36:36.919 --> 00:36:38.199 to where it's like, you wanna go 00:36:38.199 --> 00:36:39.399 to the New York Times website, 00:36:39.399 --> 00:36:42.360 and you're gonna pay a couple pennies to read an article. 00:36:42.360 --> 00:36:44.280 Whoever can figure out the microtransaction thing. 00:36:44.280 --> 00:36:47.000 And I do think that's where we're going, 00:36:47.000 --> 00:36:47.840 and that's Indy Hub, right? 00:36:47.840 --> 00:36:48.800 It's the microtransaction. 00:36:48.800 --> 00:36:52.040 And I think we're gonna get to a world 00:36:52.040 --> 00:36:54.520 where that has to be the norm, 00:36:54.520 --> 00:36:59.479 because, or rather, is more convenient as the norm. 00:36:59.479 --> 00:37:02.399 Because you can be completely anonymous 00:37:02.399 --> 00:37:04.080 in some way, shape, or form, 00:37:04.080 --> 00:37:07.479 and try to get into an Uber, 00:37:07.479 --> 00:37:09.399 or try to get into a self-driving car, 00:37:09.399 --> 00:37:11.399 and just pay per mile, or pay per whatever, right? 00:37:11.399 --> 00:37:14.120 And it's just slowly deducted from your account, 00:37:14.120 --> 00:37:17.719 because people are gonna get to a formalized understanding 00:37:17.760 --> 00:37:19.159 of what value really is. 00:37:20.600 --> 00:37:22.000 And it'll be super convenient. 00:37:22.000 --> 00:37:23.080 Like, I'm actually really excited 00:37:23.080 --> 00:37:24.919 about the convenience of the future, 00:37:24.919 --> 00:37:29.919 because I'm not gonna have to spend $19.99 a month 00:37:30.560 --> 00:37:32.080 for crap I'm not gonna use. 00:37:32.080 --> 00:37:34.040 Okay, great, there's 50 million movies 00:37:34.040 --> 00:37:35.639 on whatever it is, I don't care. 00:37:36.840 --> 00:37:39.919 But I can spend, in aggregate, 00:37:39.919 --> 00:37:42.479 like $9.04 every month, 00:37:42.479 --> 00:37:43.919 because that's what I watch, my consumption. 00:37:43.919 --> 00:37:47.760 So it's like consumption-based compensation, 00:37:47.760 --> 00:37:52.320 and consumption-based value is gonna be the future. 00:37:52.320 --> 00:37:53.159 And it's gonna be interesting, 00:37:53.159 --> 00:37:54.600 it's gonna be really interesting. 00:37:54.600 --> 00:37:55.439 Yeah. 00:37:55.439 --> 00:37:57.120 Now they can auto-debit your card right now. 00:37:57.120 --> 00:37:58.959 Like, there's so many cloud things, 00:37:58.959 --> 00:38:00.919 iCloud, Google, whatever thing, 00:38:00.919 --> 00:38:04.360 and it's like $2.99 here, $1.99 here, $10.99 here. 00:38:04.360 --> 00:38:05.239 And it just comes out, 00:38:05.239 --> 00:38:06.479 and I'm like looking at my statements, 00:38:06.479 --> 00:38:08.459 I'm like, what are all these things? 00:38:08.459 --> 00:38:11.239 Well, in the near future, when we're paying, 00:38:11.239 --> 00:38:14.179 we have to press a button 00:38:14.179 --> 00:38:16.199 and allow that transaction to go through. 00:38:16.199 --> 00:38:17.439 They can't just take that money. 00:38:17.439 --> 00:38:20.040 And so, it's gonna be our choice, 00:38:20.040 --> 00:38:21.600 the exact, what you're saying, 00:38:21.600 --> 00:38:23.959 the exact things that we wanna pay for. 00:38:23.959 --> 00:38:24.800 Yep, yep. 00:38:24.800 --> 00:38:25.639 And we're gonna feel pain again. 00:38:25.639 --> 00:38:27.560 Actually, we get back to feeling pain. 00:38:28.919 --> 00:38:30.080 And that's actually a good thing. 00:38:30.080 --> 00:38:31.520 Like, the reason, you know, 00:38:31.520 --> 00:38:32.679 I did a bunch of things with credit cards 00:38:32.679 --> 00:38:34.800 back in the day with credit card companies, 00:38:34.800 --> 00:38:37.800 and the reason they do the dip, 00:38:37.800 --> 00:38:40.199 and now actually why they're changing to the tap, 00:38:40.199 --> 00:38:41.639 because at the time it was just when the dip 00:38:41.639 --> 00:38:43.199 was being introduced in the United States, 00:38:43.199 --> 00:38:47.479 is because essentially it's a 4% increase in spend 00:38:47.479 --> 00:38:50.479 every single time they change the action to be faster. 00:38:50.479 --> 00:38:53.520 So, like the swipe was 4% more, 00:38:53.520 --> 00:38:55.719 and then the dip was 4% more. 00:38:55.719 --> 00:38:57.120 And so, like in aggregate, 00:38:57.120 --> 00:39:00.600 it's actually like you're spending 12% more money 00:39:00.600 --> 00:39:02.139 because of the tap. 00:39:02.139 --> 00:39:02.979 Yeah. 00:39:02.979 --> 00:39:05.199 Versus what you spent even when you slid the card. 00:39:05.199 --> 00:39:06.439 So, like, because the sliding 00:39:06.439 --> 00:39:07.280 was kind of a pain in the ass. 00:39:07.280 --> 00:39:08.100 It didn't work. 00:39:08.100 --> 00:39:08.939 You had to like blow on it. 00:39:08.939 --> 00:39:09.760 It was like an NES game. 00:39:10.280 --> 00:39:12.360 And now you actually just like tap and walk away. 00:39:12.360 --> 00:39:13.320 It's wild. 00:39:13.320 --> 00:39:14.280 And it makes sense. 00:39:14.280 --> 00:39:16.600 And that literally has never worked for me. 00:39:16.600 --> 00:39:18.320 Every single time I've tried to tap, 00:39:18.320 --> 00:39:21.399 it never works, and I just have to insert my card 00:39:21.399 --> 00:39:22.239 and just wait. 00:39:23.879 --> 00:39:24.719 It makes sense. 00:39:24.719 --> 00:39:26.419 Like, the thing about the industrial revolution, right? 00:39:26.419 --> 00:39:28.360 We're not in a software-based society. 00:39:29.399 --> 00:39:31.679 You have to pay for something that's a complete product. 00:39:31.679 --> 00:39:33.040 You go manufacture a car, 00:39:33.040 --> 00:39:34.719 or even, you know, 00:39:34.719 --> 00:39:36.679 even like editing software back in the day. 00:39:36.679 --> 00:39:38.719 You bought Final Cut for $1,000 or whatever 00:39:38.719 --> 00:39:41.320 because it was a completed product. 00:39:41.320 --> 00:39:43.320 Because the way manufacturing worked 00:39:43.320 --> 00:39:44.800 and the way everything worked 00:39:44.800 --> 00:39:47.199 was you didn't buy a partial product. 00:39:47.199 --> 00:39:50.639 But as value becomes increasingly digital, 00:39:51.760 --> 00:39:53.760 the product is never really complete. 00:39:53.760 --> 00:39:55.040 It's constant iteration. 00:39:55.040 --> 00:39:57.340 Software development is this constant iteration. 00:39:57.340 --> 00:40:01.159 And so it's just a much, much, much better allocation 00:40:01.159 --> 00:40:04.919 of capital from the consumer perspective 00:40:04.919 --> 00:40:07.899 and a society perspective where we can actually see 00:40:07.899 --> 00:40:09.620 where people's attention and time 00:40:09.620 --> 00:40:12.139 and needs and wants are truly going. 00:40:13.340 --> 00:40:17.580 So I think it's a huge benefit with regards to that. 00:40:18.899 --> 00:40:20.020 I gotta jump, homies. 00:40:22.379 --> 00:40:23.219 Godspeed. 00:40:24.139 --> 00:40:25.459 Thanks for coming on, brother. 00:40:25.459 --> 00:40:26.300 Deuces. 00:40:29.100 --> 00:40:32.300 You know, trying to keep these to the time frame. 00:40:32.300 --> 00:40:34.159 So if we have like nine more minutes. 00:40:35.620 --> 00:40:36.620 You know, and I'm not sure how many people 00:40:36.620 --> 00:40:37.820 are actually still watching right now. 00:40:38.639 --> 00:40:39.620 If you are still watching right now, 00:40:39.620 --> 00:40:41.340 drop something in the chat 00:40:41.340 --> 00:40:42.419 if you want us to talk about anything. 00:40:42.419 --> 00:40:44.300 But I think what's interesting about the three of us 00:40:44.300 --> 00:40:47.760 is we, actually all four of us, but Zach, I'll jump off. 00:40:47.760 --> 00:40:50.780 But the, you know, 00:40:50.780 --> 00:40:53.260 how do you think it's gonna change Hollywood? 00:40:53.260 --> 00:40:54.340 You know, we're already kind of seeing it 00:40:54.340 --> 00:40:56.340 with like the fires just kind of decimated. 00:40:56.340 --> 00:40:58.340 And I'm very curious how many, 00:40:58.340 --> 00:41:00.939 like I know Altadena and I know Palisades 00:41:00.939 --> 00:41:02.100 had a lot of OGs. 00:41:02.100 --> 00:41:04.419 There's a lot of OG grips and gaffers 00:41:04.419 --> 00:41:07.500 and like, just like talented people 00:41:09.100 --> 00:41:12.260 that are just like, what do we do? 00:41:12.260 --> 00:41:13.080 Do we stay? 00:41:13.080 --> 00:41:13.919 Do we go? 00:41:13.919 --> 00:41:17.020 Like, you know, because the town is not picked back up. 00:41:17.020 --> 00:41:18.580 Not only is the town not picked up, 00:41:18.580 --> 00:41:23.580 I mean, even further out than LA and Hollywood, 00:41:24.520 --> 00:41:25.939 the industry is super slow. 00:41:25.939 --> 00:41:28.280 I mean, they had multiple strikes. 00:41:28.280 --> 00:41:29.620 And if you think about it, 00:41:29.620 --> 00:41:33.399 like I don't mean to like disparage the unions too hard. 00:41:34.580 --> 00:41:37.780 Cause there are so many good people in the unions 00:41:37.780 --> 00:41:40.820 and, you know, those people have made the movies 00:41:40.820 --> 00:41:45.820 that I love, but they're working in a very antiquated system 00:41:45.820 --> 00:41:48.820 and I'm talking like beyond what AI is gonna do 00:41:48.820 --> 00:41:51.739 to the industry. 00:41:52.860 --> 00:41:55.899 The distribution platforms are totally screwed up 00:41:55.899 --> 00:42:00.899 and that threw off what the stories 00:42:01.100 --> 00:42:02.620 that people were making, the actual movies, 00:42:02.620 --> 00:42:04.179 the shows and everything. 00:42:04.179 --> 00:42:07.020 Like there's nothing, well, there's not nothing, 00:42:07.020 --> 00:42:09.739 but there's tons and tons of tentpole movies, 00:42:09.739 --> 00:42:13.699 sequels, all these things that are kind of just this, 00:42:13.699 --> 00:42:14.540 this garbage. 00:42:14.540 --> 00:42:18.620 They're really great stories that we loved in the heyday 00:42:18.620 --> 00:42:19.860 of when we were teenagers, 00:42:19.860 --> 00:42:24.860 which was basically the late, mid, late 90s, early 2000s. 00:42:25.580 --> 00:42:27.100 A lot of those types of movies 00:42:27.100 --> 00:42:29.219 aren't even being made right now. 00:42:29.219 --> 00:42:31.699 As things get easier, this is the positive part, 00:42:31.699 --> 00:42:33.820 as things get easier for us to make movies, 00:42:33.820 --> 00:42:35.860 like there've been so many ideas I've had recently 00:42:35.860 --> 00:42:39.219 where I can go out, I can shoot some things, 00:42:39.219 --> 00:42:42.820 I can make other things using AI tools. 00:42:42.820 --> 00:42:44.459 I can make a product. 00:42:44.459 --> 00:42:46.100 Now, if I can make a movie right now, 00:42:46.100 --> 00:42:48.219 I could put it on Amazon. 00:42:48.219 --> 00:42:50.020 There's lots of different platforms. 00:42:50.020 --> 00:42:52.860 I could sell it to one of these platforms. 00:42:52.860 --> 00:42:54.459 Yeah, but we're getting to a point 00:42:54.459 --> 00:42:57.659 where we're going to be able to make movies 00:42:57.659 --> 00:43:00.419 and this might be a transitionary time period, 00:43:00.419 --> 00:43:01.340 but we're going to be able to put them 00:43:01.340 --> 00:43:03.500 on a site like Indie Hub 00:43:03.500 --> 00:43:08.500 and the cost of making the product is going to go down 00:43:08.820 --> 00:43:11.219 and we're going to be able to sell them. 00:43:11.219 --> 00:43:13.540 The issue is that it basically makes 00:43:13.540 --> 00:43:16.780 for like a middle class of movie makers, 00:43:16.780 --> 00:43:19.459 as opposed to the people that were successful 00:43:19.459 --> 00:43:22.219 in movie making for the last hundred years 00:43:22.219 --> 00:43:23.899 were the upper class. 00:43:23.899 --> 00:43:26.699 If you could successfully make a movie, 00:43:26.699 --> 00:43:29.379 it was riches. 00:43:29.379 --> 00:43:32.979 You were going to be a rich, wealthy person 00:43:32.979 --> 00:43:36.060 if you were a filmmaker with a successful movie 00:43:36.060 --> 00:43:40.939 that went theatrical or when home video was a thing 00:43:40.939 --> 00:43:44.219 or, and then when these streaming platforms 00:43:44.219 --> 00:43:45.979 were buying movies from people. 00:43:45.979 --> 00:43:49.219 And we're passing that time period right now. 00:43:49.219 --> 00:43:51.139 Of course, there's still going to be those movies 00:43:51.139 --> 00:43:54.780 to some degree, but we are entering a place now 00:43:54.860 --> 00:43:59.860 where people can make a pretty decent livable income, 00:44:00.620 --> 00:44:05.379 making movies and selling them directly to people to watch. 00:44:05.379 --> 00:44:08.939 Of course, you guys know exactly where that's headed 00:44:08.939 --> 00:44:12.020 to where it's going to become what we've talked about before 00:44:12.020 --> 00:44:14.739 with the whole choose your own adventure type movie making 00:44:14.739 --> 00:44:17.419 and basically AI is just going to make the movie for you 00:44:17.419 --> 00:44:20.260 and it's going to take the filmmaker out of it. 00:44:20.260 --> 00:44:23.459 But for a time period, and I think we're already there, 00:44:23.459 --> 00:44:25.860 basically you can make a movie for very little money. 00:44:25.860 --> 00:44:28.060 You can make back more than you spent on it 00:44:28.060 --> 00:44:29.699 and you can make a living as a filmmaker, 00:44:29.699 --> 00:44:32.379 which is exciting if you're just purely a filmmaker 00:44:32.379 --> 00:44:33.219 for the love of it, 00:44:33.219 --> 00:44:36.260 because the people who have the actual talent 00:44:36.260 --> 00:44:38.699 are going to be able to just choose to do that job 00:44:38.699 --> 00:44:39.540 and make a living at it. 00:44:39.540 --> 00:44:41.780 I just, maybe you guys have a perspective on it. 00:44:41.780 --> 00:44:44.260 I don't know how long that's going to last. 00:44:44.260 --> 00:44:46.699 I don't think it's going to be a very long time period. 00:44:46.699 --> 00:44:50.699 One thing that I think is, I think the key 00:44:50.699 --> 00:44:53.139 or perhaps the key to all of this 00:44:53.820 --> 00:44:57.419 and how it goes forward is the price feedback mechanism, 00:44:57.419 --> 00:45:00.459 which is you release a movie on like Indy hub, 00:45:00.459 --> 00:45:03.139 it's going to pay you in sats, right? 00:45:03.139 --> 00:45:03.979 Right. 00:45:03.979 --> 00:45:04.820 Immediately. 00:45:04.820 --> 00:45:05.820 And you're gonna be like, wait a second, 00:45:05.820 --> 00:45:09.260 people stopped watching my movie 13 minutes in. 00:45:09.260 --> 00:45:11.379 And I know that because I can see all the stats 00:45:11.379 --> 00:45:14.260 and I can see like, this is where I stopped getting paid. 00:45:14.260 --> 00:45:15.100 Right? 00:45:15.100 --> 00:45:17.060 So what was wrong with minute 13? 00:45:17.060 --> 00:45:18.340 And you go and you look at minute 13, 00:45:18.340 --> 00:45:19.899 you're like, wait a second. 00:45:19.899 --> 00:45:22.219 Oh fuck, there's a boom. 00:45:22.219 --> 00:45:24.139 It's just like the boom is like in the guy's forehead. 00:45:24.139 --> 00:45:24.979 Right? 00:45:24.979 --> 00:45:27.580 It's just like some stupid mistake that you just, whatever. 00:45:27.580 --> 00:45:32.340 So you recut the movie and you release it on Indy hub, 00:45:32.340 --> 00:45:34.020 again, version two. 00:45:34.020 --> 00:45:35.459 And it's like, oh cool. 00:45:35.459 --> 00:45:37.620 The audience made it past minute 13, 00:45:37.620 --> 00:45:39.780 but now they get stuck on minute 30. 00:45:39.780 --> 00:45:42.939 You can kind of like get into this zone of like, 00:45:42.939 --> 00:45:45.260 wait a second, we have unlimited iteration 00:45:45.260 --> 00:45:47.580 on movie making itself. 00:45:47.580 --> 00:45:50.060 And then we get this feedback loop of price mechanism 00:45:50.060 --> 00:45:51.820 on movie making itself. 00:45:52.419 --> 00:45:55.580 And the consequence is there that Netflix doesn't have to 00:45:55.580 --> 00:46:00.260 like whatever, just do buckshot at a wall 00:46:00.260 --> 00:46:03.060 and see what hits and what doesn't hit. 00:46:03.060 --> 00:46:08.060 They can like literally incrementally and systematically 00:46:08.260 --> 00:46:11.419 just kind of give the filmmakers the tools 00:46:11.419 --> 00:46:12.860 and the resources they need to do that. 00:46:12.860 --> 00:46:17.540 And then the product cycle is just like so much shorter, 00:46:17.540 --> 00:46:20.860 so much more feedback for all the artists to get cool. 00:46:20.899 --> 00:46:22.340 Oh, wait, this doesn't work. 00:46:22.340 --> 00:46:23.179 That does work. 00:46:23.179 --> 00:46:25.020 Let's go with that thing, you know? 00:46:25.020 --> 00:46:28.939 What you're describing already is happening, by the way. 00:46:28.939 --> 00:46:33.100 I've been a part of a movie where we changed some things 00:46:33.100 --> 00:46:34.179 and just re-uploaded it. 00:46:34.179 --> 00:46:36.500 Nobody even knew that we changed it. 00:46:36.500 --> 00:46:38.939 And I mean, you could also argue the movie Cats. 00:46:38.939 --> 00:46:40.340 You guys remember that one? 00:46:40.340 --> 00:46:41.580 Mm-hmm. 00:46:41.580 --> 00:46:42.419 When they originally released it. 00:46:42.419 --> 00:46:44.659 The great glorious Cats. 00:46:44.659 --> 00:46:46.620 The Cats had buttholes. 00:46:48.580 --> 00:46:49.419 Yeah. 00:46:49.419 --> 00:46:50.459 It's true, look it up. 00:46:50.979 --> 00:46:51.820 And they took them out. 00:46:51.820 --> 00:46:53.060 They re-released it. 00:46:53.060 --> 00:46:53.899 Thank you. 00:46:53.899 --> 00:46:56.139 They did a similar thing with Sonic the Hedgehog too, 00:46:56.139 --> 00:46:58.580 right, where it was like they released the- 00:46:58.580 --> 00:46:59.580 Yeah, yeah. 00:46:59.580 --> 00:47:01.020 They totally changed Sonic. 00:47:01.020 --> 00:47:02.260 Which Sonic was gonna look like 00:47:02.260 --> 00:47:04.459 and everyone was like, what the fuck? 00:47:04.459 --> 00:47:05.300 Yeah, yeah. 00:47:05.300 --> 00:47:07.540 So they changed it and that was, yeah. 00:47:08.780 --> 00:47:09.620 Oh, man. 00:47:09.620 --> 00:47:10.459 What's interesting about, actually, 00:47:10.459 --> 00:47:11.500 you guys just gave me an idea 00:47:11.500 --> 00:47:13.739 that I hadn't thought about until just right now, 00:47:13.739 --> 00:47:16.340 but it's the, you know, 00:47:16.340 --> 00:47:18.979 what's most exciting for me is the value. 00:47:18.979 --> 00:47:21.620 Other people will value your time more. 00:47:22.939 --> 00:47:26.219 And says the guy who wants to start a podcast 00:47:26.219 --> 00:47:28.340 with people who have other things to do, 00:47:28.340 --> 00:47:31.139 but you guys are graciously sitting on here for an hour. 00:47:32.300 --> 00:47:36.780 But like, that's the thing about that 00:47:36.780 --> 00:47:39.100 is actually advertising has to get better. 00:47:40.060 --> 00:47:41.899 It actually has to add value to you. 00:47:41.899 --> 00:47:43.899 It can't just be like screaming at you. 00:47:44.780 --> 00:47:46.419 It goes to, you know, Alex Ramosi, 00:47:46.419 --> 00:47:48.739 if you know who he is, he's the guy at acquisitions.com, 00:47:49.620 --> 00:47:52.260 you know, his whole premise of the million dollar offer. 00:47:52.260 --> 00:47:54.260 And it's like creating a category of one 00:47:54.260 --> 00:47:55.340 for what you're selling. 00:47:55.340 --> 00:47:58.219 But what's interesting about that is like that's, 00:47:58.219 --> 00:48:02.179 I fully see a thing like Indie Hub 00:48:02.179 --> 00:48:05.620 where instead of charging, you know, like CPM, 00:48:05.620 --> 00:48:09.060 where it's like cost per thousand views or whatever, 00:48:09.060 --> 00:48:10.899 or cost per million views or whatever, 00:48:12.139 --> 00:48:13.780 you're gonna start seeing 00:48:14.659 --> 00:48:19.659 an ad pay or like you're gonna start paying for ads 00:48:20.699 --> 00:48:24.699 as an advertiser based on completion. 00:48:24.699 --> 00:48:26.620 And it's not gonna be a forced completion type thing. 00:48:26.620 --> 00:48:29.820 It's gonna be like a, you know, pay for completion thing. 00:48:29.820 --> 00:48:33.540 And I do see a world where we start seeing at Brave, 00:48:33.540 --> 00:48:35.699 the Brave browser started, like tried to do it 00:48:35.699 --> 00:48:38.179 and it didn't really succeed with their Brave token. 00:48:38.179 --> 00:48:40.219 But they're like, oh, we'll pay you for being served. 00:48:40.219 --> 00:48:42.820 Gosh, who would have guessed? 00:48:42.820 --> 00:48:44.179 I do think that's coming though. 00:48:44.179 --> 00:48:46.659 Cause I think there is a world where you can say, 00:48:46.659 --> 00:48:49.580 hey, I would love to like, you know, 00:48:49.580 --> 00:48:52.340 oh, you wanna pay me to talk to me? 00:48:52.340 --> 00:48:53.780 Cool, where are you seeing that with Nostr? 00:48:53.780 --> 00:48:55.659 Like I'm getting, I get zaps all the time 00:48:55.659 --> 00:48:57.179 and I haven't been on Nostr in a minute. 00:48:57.179 --> 00:48:58.939 Like people literally zap with an ad 00:48:58.939 --> 00:49:01.820 in the memo field, right? 00:49:01.820 --> 00:49:05.219 And it's like, cool, I just got paid to be advertised to. 00:49:05.219 --> 00:49:07.219 That is the future in my opinion. 00:49:08.020 --> 00:49:10.219 But it goes both ways where it's like, 00:49:10.219 --> 00:49:12.739 the advertisers are only gonna pay 00:49:12.739 --> 00:49:14.860 for the amount of the ad viewed. 00:49:14.860 --> 00:49:16.659 And so it's gonna force the quality of the ads 00:49:16.659 --> 00:49:20.620 to get better, to entertain you and grip you for longer, 00:49:20.620 --> 00:49:23.219 which means they need to add more value for longer. 00:49:23.219 --> 00:49:26.100 And so I think it's just gonna be, you know, 00:49:26.100 --> 00:49:27.979 the Bitcoin standard is the rising tide 00:49:27.979 --> 00:49:31.939 that makes the entirety of life better, in my opinion. 00:49:33.300 --> 00:49:35.540 From the ads that you are served 00:49:35.620 --> 00:49:37.139 and that you get to watch, 00:49:37.139 --> 00:49:38.699 to the content that you consume. 00:49:38.699 --> 00:49:41.060 And I think we get back to patronage. 00:49:41.060 --> 00:49:42.500 You know, I think what's gonna be interesting 00:49:42.500 --> 00:49:46.179 is like Christopher Nolan in a Bitcoin future 00:49:46.179 --> 00:49:48.699 still has blockbuster hits 00:49:48.699 --> 00:49:53.699 because mass swaths of people are patronizing his movie. 00:49:54.580 --> 00:49:55.419 And they're like- 00:49:55.419 --> 00:49:58.060 They'll do anything to see his films, yeah. 00:49:58.060 --> 00:49:58.899 Yeah. 00:49:58.899 --> 00:50:02.459 And, you know, this feedback loop continues. 00:50:02.459 --> 00:50:07.459 But he can also acquire the best talent 00:50:09.379 --> 00:50:12.139 and the best producers and the best locations 00:50:12.139 --> 00:50:12.979 and everything else 00:50:12.979 --> 00:50:15.260 because he's got such the brand recognition. 00:50:15.260 --> 00:50:16.979 It's Christopher Nolan, right? 00:50:16.979 --> 00:50:17.820 Yep. 00:50:17.820 --> 00:50:19.540 And, you know, when you get into the cycle 00:50:19.540 --> 00:50:22.620 of the positive virtuous feedback loop 00:50:22.620 --> 00:50:27.260 of seeing how your content is like actually getting monetized 00:50:27.260 --> 00:50:30.060 and what people like and what they wanna see or whatever, 00:50:31.060 --> 00:50:32.100 you're gonna- 00:50:32.100 --> 00:50:36.620 You're riding that stairway up as well to become a- 00:50:36.620 --> 00:50:39.459 You know, obviously it's gonna be a lot- 00:50:39.459 --> 00:50:40.580 You're gonna need a lot of skill 00:50:40.580 --> 00:50:42.060 to become the next Christopher Nolan, 00:50:42.060 --> 00:50:44.300 but you're on that path. 00:50:47.100 --> 00:50:48.060 It's gonna be interesting. 00:50:48.060 --> 00:50:50.379 Like we have such a fiat mentality 00:50:50.379 --> 00:50:52.699 about everything having to do with money, 00:50:52.699 --> 00:50:55.500 using credit cards, taking on loans. 00:50:55.500 --> 00:50:56.340 We know- 00:50:56.340 --> 00:50:57.179 We take on loans 00:50:57.179 --> 00:50:58.820 because we know that the loan is gonna be cheaper 00:50:58.820 --> 00:51:01.139 to service because of inflation and all this stuff. 00:51:01.139 --> 00:51:02.659 And like, for me, I'm freelance. 00:51:02.659 --> 00:51:04.659 I work, you know, as a cinematographer, 00:51:04.659 --> 00:51:06.540 as like my bread and butter work. 00:51:06.540 --> 00:51:10.860 And oftentimes I will negotiate a rate with somebody. 00:51:10.860 --> 00:51:13.219 They're gonna pay me X amount of money. 00:51:13.219 --> 00:51:14.739 I go do the job. 00:51:14.739 --> 00:51:16.659 And then a few days later, when I remember, 00:51:16.659 --> 00:51:17.899 I send them the invoice 00:51:17.899 --> 00:51:22.459 and then eventually I'm trusting them to pay me 00:51:22.459 --> 00:51:24.379 by either doing an ACH 00:51:24.379 --> 00:51:28.139 or physically mailing me a check or whatever. 00:51:28.179 --> 00:51:30.020 And it's like, I can instinctually feel 00:51:30.020 --> 00:51:32.659 that everything about how that works currently 00:51:32.659 --> 00:51:35.060 is gonna change when there's a Bitcoin standard. 00:51:36.219 --> 00:51:37.179 People are going to- 00:51:37.179 --> 00:51:39.340 They're not gonna trust you to send them Bitcoin, 00:51:39.340 --> 00:51:40.179 I don't think. 00:51:40.179 --> 00:51:42.419 I think it'll be like, in a very similar way 00:51:42.419 --> 00:51:45.300 to the way that you're paying to watch a movie 00:51:45.300 --> 00:51:47.820 on Indy Hub with a certain amount of sats. 00:51:47.820 --> 00:51:50.379 The way that we work is gonna be very similar. 00:51:50.379 --> 00:51:52.540 It's like, if you want my services, 00:51:52.540 --> 00:51:57.540 you're gonna pay me right now by paying me in sats. 00:51:57.699 --> 00:52:01.580 And it's gonna completely change our relationship 00:52:01.580 --> 00:52:04.179 with how we even accept payment for what we do. 00:52:09.659 --> 00:52:11.060 Do you guys agree with that? 00:52:13.419 --> 00:52:14.260 Yeah, I agree. 00:52:16.100 --> 00:52:19.340 But yeah, that takes us to 3.30. 00:52:19.340 --> 00:52:21.820 You guys are gonna jump off here? 00:52:21.820 --> 00:52:25.379 Yeah, I think it'd be probably good to jump and wrap 00:52:25.419 --> 00:52:27.659 because I think we need to give ourselves some good bounds 00:52:27.659 --> 00:52:29.379 and start trying to figure out what this thing is. 00:52:29.379 --> 00:52:33.699 I think this is what Bitcoin is for me, 00:52:33.699 --> 00:52:35.379 or like part of this is like the journey 00:52:35.379 --> 00:52:38.260 of like figuring this out live in the open. 00:52:38.260 --> 00:52:41.419 I'm realizing there's value and not value for other people. 00:52:41.419 --> 00:52:43.939 There's like value for us, but not value for others. 00:52:43.939 --> 00:52:44.780 Yeah. 00:52:45.739 --> 00:52:46.580 I don't know. 00:52:46.580 --> 00:52:48.020 I had somebody watch our last one 00:52:48.020 --> 00:52:51.459 and he seemed to have enjoyed it. 00:52:51.459 --> 00:52:53.500 One thing he didn't like, he didn't like watching on X 00:52:53.500 --> 00:52:55.020 because every time he got pulled away from it, 00:52:55.659 --> 00:52:56.820 he'd go back and be like, where was I? 00:52:56.820 --> 00:52:58.340 Oh, I gotta restart. 00:52:58.340 --> 00:52:59.179 I need to get the YouTube up. 00:52:59.179 --> 00:53:04.179 I have the YouTube, but I do love the Martini's Up 00:53:05.260 --> 00:53:07.020 idea name for the Indie Hub thing. 00:53:07.020 --> 00:53:08.820 And I think one of the things about Better By Bitcoin 00:53:08.820 --> 00:53:13.260 though is like, it doesn't tell me what it is. 00:53:13.260 --> 00:53:15.260 And so, maybe we need to name change, 00:53:15.260 --> 00:53:17.100 but I think we're still trying to figure out what it is. 00:53:17.100 --> 00:53:21.100 But if it's like, better life, the Bitcoin way, 00:53:21.100 --> 00:53:23.540 like the Bitcoin better way or whatever it is. 00:53:23.780 --> 00:53:25.100 I really like Better By Bitcoin 00:53:25.100 --> 00:53:27.020 because everything gets better 00:53:27.020 --> 00:53:29.979 by Bitcoin being a part of that thing. 00:53:29.979 --> 00:53:32.060 And you'd better buy Bitcoin 00:53:32.060 --> 00:53:34.580 because we're gonna have hyper-Bitcoinization. 00:53:34.580 --> 00:53:37.419 And if you want wealth in the future, 00:53:37.419 --> 00:53:38.780 you need to have Bitcoin now. 00:53:38.780 --> 00:53:39.620 I don't know. 00:53:39.620 --> 00:53:41.179 Or if you want food in the future, 00:53:41.179 --> 00:53:42.500 you better get Bitcoin now. 00:53:42.500 --> 00:53:43.340 But yeah. 00:53:43.340 --> 00:53:44.379 Yeah, exactly. 00:53:44.379 --> 00:53:45.219 Yeah. 00:53:45.219 --> 00:53:47.179 I mean, just don't try to buy eggs. 00:53:47.179 --> 00:53:49.459 I've been everywhere and there's no eggs. 00:53:49.459 --> 00:53:50.699 Yeah. 00:53:50.739 --> 00:53:53.780 The Vaughn's here in Eagle Rock has ton of eggs. 00:53:53.780 --> 00:53:54.620 That's good. 00:53:54.620 --> 00:53:55.459 Costco did not. 00:53:55.459 --> 00:53:56.699 I literally walked in and like, 00:53:56.699 --> 00:53:59.580 there's like a flurry of people trying to buy eggs. 00:53:59.580 --> 00:54:00.620 And there's one dude had like, 00:54:00.620 --> 00:54:02.340 the last one is like walking around Costco 00:54:02.340 --> 00:54:04.379 and people are like waiting for him to like leave his cart. 00:54:04.379 --> 00:54:05.459 There's like 80 years old. 00:54:05.459 --> 00:54:07.340 And if you're like going to his eggs, 00:54:07.340 --> 00:54:09.739 I was like, you guys are terrible. 00:54:09.739 --> 00:54:11.620 But I think that we're gonna get the flow 00:54:11.620 --> 00:54:13.780 as we're doing these podcasts. 00:54:13.780 --> 00:54:17.659 And there is so much value in our collective wisdom. 00:54:17.659 --> 00:54:22.659 I mean, each one of us has put years and hours per day 00:54:22.860 --> 00:54:26.699 into studying Bitcoin and really thinking through 00:54:26.699 --> 00:54:29.340 how it applies to our lives 00:54:29.340 --> 00:54:31.860 and how we can better our lives 00:54:31.860 --> 00:54:34.540 by having Bitcoin being a part of our lives. 00:54:34.540 --> 00:54:35.780 And there are, I mean, 00:54:35.780 --> 00:54:37.899 the majority of people have not done that. 00:54:37.899 --> 00:54:42.260 And so they need the knowledge that we have in our brains. 00:54:42.260 --> 00:54:44.219 And I mean, it's gonna take us a little while 00:54:44.219 --> 00:54:46.060 to figure out how to brand ourselves and everything 00:54:46.060 --> 00:54:48.139 so that people know what they're getting 00:54:48.139 --> 00:54:52.979 when they just click on this, but the value is there. 00:54:52.979 --> 00:54:54.979 The value is within us and what we're doing. 00:54:54.979 --> 00:54:57.620 So don't sell yourself short. 00:54:57.620 --> 00:54:59.500 People will enjoy watching this. 00:54:59.500 --> 00:55:01.500 There's lots of people that wanna watch us 00:55:01.500 --> 00:55:03.300 talk about these subjects for an hour. 00:55:03.300 --> 00:55:04.899 I was actually thinking about that actually 00:55:04.899 --> 00:55:07.699 very specifically of the, 00:55:08.699 --> 00:55:11.739 I do think a focus, like we just picked a question 00:55:11.739 --> 00:55:13.179 and we're kind of riffing on it. 00:55:13.179 --> 00:55:15.300 And we talked last week at the meetup 00:55:15.300 --> 00:55:16.860 and I couldn't, you couldn't meet at Anton, 00:55:16.860 --> 00:55:21.860 but I think we should try to do five days a week. 00:55:22.540 --> 00:55:24.459 I think we should try to have everybody own a day 00:55:24.459 --> 00:55:26.379 and or like four days a week or three days a week. 00:55:26.379 --> 00:55:27.620 I think we did five days a week. 00:55:27.620 --> 00:55:30.100 If everybody owned a day and they did like 30 minutes 00:55:30.100 --> 00:55:32.300 or an hour on their subject, 00:55:32.300 --> 00:55:34.699 where were they as me, a subject matter expert? 00:55:34.699 --> 00:55:38.899 Because I do think you talking about how cinematography 00:55:38.899 --> 00:55:41.300 is gonna get better because of a Bitcoin standard, 00:55:41.300 --> 00:55:44.340 Bondor talking about engineering and also like ADing, 00:55:44.379 --> 00:55:46.379 less people are gonna die from heart attacks 00:55:46.379 --> 00:55:48.540 and stress, panic attacks. 00:55:48.540 --> 00:55:51.580 I mean, or people are gonna, less people, 00:55:51.580 --> 00:55:53.379 in terms of ADing, let's be honest, 00:55:53.379 --> 00:55:55.899 less people are gonna die because of getting run over 00:55:55.899 --> 00:55:59.540 by trains and shot by guns and that awful. 00:55:59.540 --> 00:56:03.459 Oh, but I would love it like for me, 00:56:03.459 --> 00:56:06.500 I really wanna dive into the advertising piece. 00:56:06.500 --> 00:56:08.260 That's literally how I filter everything. 00:56:08.260 --> 00:56:09.580 Every time I look at anything, I'm like, 00:56:09.580 --> 00:56:10.419 how do you sell that? 00:56:10.419 --> 00:56:11.239 How do you pitch that? 00:56:11.239 --> 00:56:12.080 What's the story? 00:56:12.560 --> 00:56:14.719 That's just the first thing I go to 00:56:14.719 --> 00:56:17.199 because I've been doing it for 20 years and I love it. 00:56:17.199 --> 00:56:21.360 I really do love trying to crack that proverbial nut 00:56:21.360 --> 00:56:26.199 of how do I get somebody to feel something about this brand, 00:56:26.199 --> 00:56:28.419 about this product and then see the full benefit of it. 00:56:28.419 --> 00:56:30.399 Like see, oh wow, this would make my life better. 00:56:30.399 --> 00:56:31.959 And I do enjoy doing that. 00:56:33.679 --> 00:56:35.760 And so I just wanna, I wanna do that more 00:56:35.760 --> 00:56:37.600 and actually like just dive into like, 00:56:37.600 --> 00:56:40.239 it's like the advertising, it's like, okay, 00:56:40.280 --> 00:56:42.520 Monday, Tuesday, Wednesday, Thursday, 00:56:42.520 --> 00:56:44.399 you tune in, you're gonna get this. 00:56:44.399 --> 00:56:47.080 And I do think we should probably have a more Hollywood 00:56:47.080 --> 00:56:49.239 slant because that's just what we all have experience in. 00:56:49.239 --> 00:56:50.080 But- 00:56:50.080 --> 00:56:51.080 Absolutely, I agree. 00:56:51.080 --> 00:56:52.719 Yeah, and maybe that's what it is. 00:56:52.719 --> 00:56:55.399 Maybe it's like, you know, Hollywood better by bit, 00:56:55.399 --> 00:56:59.159 like better by Bitcoin for Hollywood or something. 00:56:59.159 --> 00:57:00.000 I don't know. 00:57:00.000 --> 00:57:03.239 Yeah, we're all in Hollywood and we're all representing, 00:57:03.239 --> 00:57:07.399 we're like the vanguard of the new Hollywood as well. 00:57:08.360 --> 00:57:09.199 And that is- 00:57:09.199 --> 00:57:10.639 But you can buy Bitcoin. 00:57:10.639 --> 00:57:12.120 We don't limit you buying Bitcoin. 00:57:12.120 --> 00:57:15.919 So not that vanguard, like the word vanguard. 00:57:15.919 --> 00:57:17.679 I don't even know what the word means exactly. 00:57:17.679 --> 00:57:18.800 Like if you asked me the definition, 00:57:18.800 --> 00:57:19.639 I couldn't give it to you, 00:57:19.639 --> 00:57:21.840 but I feel like I'm using it in the right context. 00:57:21.840 --> 00:57:22.679 I could be wrong. 00:57:23.800 --> 00:57:26.679 We're leading the charge for that thing 00:57:26.679 --> 00:57:28.959 that is what Hollywood will become, 00:57:28.959 --> 00:57:31.360 like the good part of the cycle. 00:57:31.360 --> 00:57:34.719 I mean, I really think that we're in that time period 00:57:34.919 --> 00:57:39.919 where Hollywood was when silent films were picking up steam 00:57:40.320 --> 00:57:43.120 to where they went to the pinnacle of silent films. 00:57:43.120 --> 00:57:44.360 That's where I think we are right now 00:57:44.360 --> 00:57:45.600 in the cycle, personally. 00:57:47.040 --> 00:57:49.959 According to Grok, the term vanguard means 00:57:49.959 --> 00:57:51.439 literal and historically, 00:57:51.439 --> 00:57:53.639 originally it refers to the foremost part 00:57:53.639 --> 00:57:56.280 of an advancing army or military force, 00:57:56.280 --> 00:57:58.760 the troops who led the way and are at the front line. 00:57:58.760 --> 00:58:00.159 We are the vanguard, yeah. 00:58:00.159 --> 00:58:01.639 Yeah, the vanguard. 00:58:01.639 --> 00:58:02.919 Yeah, and I think part of that, 00:58:03.879 --> 00:58:06.639 this is what killed me, killed the stream last, 00:58:06.639 --> 00:58:09.040 killed my participation in the stream last time 00:58:09.040 --> 00:58:12.159 was this point, which is, is Hollywood dead? 00:58:12.159 --> 00:58:15.040 And I was trying to make the case that Hollywood is not dead. 00:58:15.040 --> 00:58:18.879 And I've thought about this more and put this tweet out, 00:58:18.879 --> 00:58:20.879 but it's like, California is the most incredible, 00:58:20.879 --> 00:58:22.479 dynamic, ambitious, consequential, 00:58:22.479 --> 00:58:23.639 and rich place on earth. 00:58:23.639 --> 00:58:25.560 And the reason it's the most consequential 00:58:25.560 --> 00:58:27.239 is because we have tech and we have entertainment. 00:58:27.239 --> 00:58:30.120 We export everyone else's stories. 00:58:30.199 --> 00:58:33.040 This is where we determine what is meaningful 00:58:33.040 --> 00:58:34.959 for everyone else on earth. 00:58:34.959 --> 00:58:36.000 Yeah, how do we maintain that? 00:58:36.000 --> 00:58:36.840 Think about that. 00:58:36.840 --> 00:58:38.679 I'll be honest, I don't know if, I don't know, 00:58:38.679 --> 00:58:42.239 I agree now, but how do we maintain that? 00:58:42.239 --> 00:58:44.360 Not only maintain it, reclaim it too. 00:58:44.360 --> 00:58:46.760 I mean, it's been going down the tubes. 00:58:46.760 --> 00:58:47.600 Yeah, okay. 00:58:47.600 --> 00:58:49.080 With crazy leftist progressivism, 00:58:49.080 --> 00:58:51.719 they've been literally burning it to the ground. 00:58:51.719 --> 00:58:54.600 The only thing that's standing in the way 00:58:54.600 --> 00:58:58.320 of California and LA is the retarded communism 00:58:58.320 --> 00:59:03.320 that is seeping out of the pores of everything here. 00:59:03.399 --> 00:59:05.520 Now, why is there retarded communism? 00:59:05.520 --> 00:59:06.639 Why is all that? 00:59:06.639 --> 00:59:08.040 It's because of fiat. 00:59:08.040 --> 00:59:11.040 It's because California has more representatives 00:59:11.040 --> 00:59:13.520 than any other state, which means we get more money 00:59:13.520 --> 00:59:16.199 and we have more of these bullshit NGOs 00:59:16.199 --> 00:59:19.479 and all the other garbage that comes out of Washington 00:59:19.479 --> 00:59:23.800 because we are, again, then closer to the money printer. 00:59:23.800 --> 00:59:24.959 Being closer to the money printer 00:59:24.959 --> 00:59:28.479 means we have the most retarded communists here. 00:59:28.479 --> 00:59:32.760 And then the most retarded people who are communists 00:59:32.760 --> 00:59:36.399 flock to California and to Los Angeles 00:59:36.399 --> 00:59:40.479 to just suckle off a little bit of the social programs 00:59:40.479 --> 00:59:44.280 and to get the little drippings that fall off of the money 00:59:44.280 --> 00:59:46.239 that's being embezzled by the people 00:59:46.239 --> 00:59:48.320 who are at the top of these organizations 00:59:48.320 --> 00:59:51.840 that are taking this printed fiat garbage money. 00:59:52.120 --> 00:59:54.919 It's like Jesus. 00:59:54.919 --> 00:59:56.000 So how do you fix this? 00:59:56.000 --> 00:59:58.679 Well, the way you fix this is Bitcoin. 00:59:58.679 --> 01:00:01.840 Bitcoin literally is egalitarian. 01:00:01.840 --> 01:00:02.959 There is no money printer. 01:00:02.959 --> 01:00:04.120 Nobody can print money. 01:00:04.120 --> 01:00:05.520 Nobody can stop Bitcoin. 01:00:05.520 --> 01:00:10.520 It is a force-multiplying retarded communist ender. 01:00:13.199 --> 01:00:14.879 This is the end of retarded communists 01:00:14.879 --> 01:00:17.600 because nobody can do anything about it. 01:00:17.600 --> 01:00:20.639 There's no tit you can suckle off of. 01:00:20.639 --> 01:00:21.639 It's done. 01:00:22.439 --> 01:00:23.280 That whole world is over 01:00:23.280 --> 01:00:26.120 as long as we start pushing on Bitcoin. 01:00:27.199 --> 01:00:29.800 The complacent people who will watch 01:00:29.800 --> 01:00:33.040 the auditing of Fort Knox and just be eating Cheetos 01:00:33.040 --> 01:00:35.080 and drinking their Starbucks, 01:00:35.080 --> 01:00:39.239 the horrifically burnt coffee beans. 01:00:39.239 --> 01:00:40.919 Which is just sugar now. 01:00:40.919 --> 01:00:41.760 Yeah. 01:00:41.760 --> 01:00:44.919 Those people, they cannot stop. 01:00:44.919 --> 01:00:46.959 Even though they're not aware of what's coming, 01:00:46.959 --> 01:00:48.239 they can't stop what's coming. 01:00:48.280 --> 01:00:51.719 And so hyper-Bitcoinization is going to take place. 01:00:51.719 --> 01:00:54.800 And like I was saying, as this is happening 01:00:54.800 --> 01:00:56.679 and people are just like, I can't stop this, 01:00:56.679 --> 01:00:58.679 they're going to be looking to people like us 01:00:58.679 --> 01:01:00.679 to tell them what the heck is happening. 01:01:02.239 --> 01:01:04.120 Yeah, I think this goes actually 01:01:04.120 --> 01:01:06.040 into why I started Cyberpunk Cinema. 01:01:06.040 --> 01:01:07.879 I love that my camera always freezes. 01:01:07.879 --> 01:01:09.239 I know. 01:01:09.239 --> 01:01:10.760 It's just like every, 01:01:10.760 --> 01:01:12.239 your camera dies every 30 minutes. 01:01:12.239 --> 01:01:13.560 Mine just freezes. 01:01:13.560 --> 01:01:15.959 It's just a little better than mine. 01:01:15.959 --> 01:01:16.919 It's wild. 01:01:16.919 --> 01:01:18.479 And it actually, it's every computer I'm on. 01:01:18.479 --> 01:01:20.040 I have different computers. 01:01:20.040 --> 01:01:22.479 It's like, it's something with my internet provider. 01:01:22.479 --> 01:01:24.120 My ISP at certain points is just like, 01:01:24.120 --> 01:01:27.199 no, we're going to turn that port off for like five seconds. 01:01:29.280 --> 01:01:30.600 We don't need this one. 01:01:30.600 --> 01:01:31.719 We don't need that one. 01:01:31.719 --> 01:01:36.120 But no, what we, 01:01:38.360 --> 01:01:40.439 we need to tell Bitcoin lore. 01:01:40.439 --> 01:01:43.879 Like we need more Bitcoin lore stories. 01:01:43.879 --> 01:01:45.679 Like we need, and that's literally what, 01:01:46.080 --> 01:01:48.199 the Bitcoin mining thing I want to be doing. 01:01:48.199 --> 01:01:52.479 Like, and I just need to figure out how I can 01:01:53.840 --> 01:01:55.439 have enough money to quit my day job 01:01:55.439 --> 01:01:57.760 to the company that I'm running my own day job. 01:01:57.760 --> 01:02:02.760 But how do we tell these stories 01:02:03.639 --> 01:02:05.360 and get them out there in such a way 01:02:05.360 --> 01:02:09.800 that we can have people feel like, 01:02:10.320 --> 01:02:15.320 I feel the best series that just kind of fell flat 01:02:16.760 --> 01:02:21.159 because people, the twist really, really broke 01:02:21.159 --> 01:02:24.639 a lot of people was the man in the high castle. 01:02:24.639 --> 01:02:27.840 The man in the high castle, season one, 01:02:27.840 --> 01:02:29.840 episode one through whatever, 01:02:31.360 --> 01:02:34.360 had everybody wrapped with attention. 01:02:34.360 --> 01:02:36.800 And then as soon as they, and spoiler alert, 01:02:36.800 --> 01:02:38.239 turn it off if you haven't seen it before. 01:02:38.280 --> 01:02:40.800 Like as soon as they said it was an alternate reality 01:02:40.800 --> 01:02:44.800 and it wasn't real, the show just kind of folded on itself. 01:02:44.800 --> 01:02:49.800 Because the problem is people felt lied to. 01:02:49.959 --> 01:02:53.800 And I think what makes like Snow Crash 01:02:53.800 --> 01:02:58.800 and Chuck Palahniuk, all these great authors and books 01:02:59.439 --> 01:03:03.000 and things like that from the past era so good, 01:03:03.000 --> 01:03:07.080 Christopher Nolan, is they show you a reality in 1984. 01:03:07.120 --> 01:03:10.800 They show you a reality that helps you 01:03:10.800 --> 01:03:12.600 kind of unpack some things, 01:03:12.600 --> 01:03:15.199 but they need to just live in that reality 01:03:15.199 --> 01:03:16.879 and not have an out. 01:03:16.879 --> 01:03:20.000 Like they need to burn the ships of the story kind of thing. 01:03:20.000 --> 01:03:22.080 And I think we haven't done that enough with Bitcoin. 01:03:22.080 --> 01:03:25.820 Like we need to be telling Bitcoin future stories. 01:03:26.760 --> 01:03:28.439 The Consensus Network guys are trying to do that 01:03:28.439 --> 01:03:30.120 and I think they're doing a good job. 01:03:30.120 --> 01:03:31.719 But we need those stories to get out there 01:03:31.719 --> 01:03:34.919 and the challenge just now is the capital to do it. 01:03:38.080 --> 01:03:39.199 Dytribe over it. 01:03:39.199 --> 01:03:40.040 Good episode. 01:03:41.080 --> 01:03:42.159 All right, team. 01:03:42.159 --> 01:03:43.000 See you next time. 01:03:43.000 --> 01:03:43.840 See you guys. 01:03:43.840 --> 01:03:45.239 See you in a week. 01:03:45.239 --> 01:03:46.080 Peace. 01:03:46.080 --> 01:03:47.639 Better buy Bitcoin. 01:03:47.639 --> 01:03:48.479 Better buy Bitcoin. 01:03:48.479 --> 01:03:50.280 ♪ Got a good day coming ♪ 01:03:50.280 --> 01:03:52.639 ♪ And it's all I need ♪ 01:03:52.639 --> 01:03:55.800 ♪ Everything I wanted ♪