The Bitcoin Group #350 - Bitcoin Rally! - Bank Run

The Bitcoin Group, the American original. For over the last 10 seconds, the sharpest satosis, the best Bitcoin's, the hardest cryptocurrency talk. We'd like to welcome our panelists, Adam Meister, the Bitcoin Meister. Moving on to issue one, issue one, crypto rallies into the weekend, Bitcoin heads for its best week since early 2021. Well, earlier in the week, it seemed like a bank crisis might kill Bitcoin and

cryptocurrencies. Now the price is soaring with Bitcoin hitting almost 26,000 and Ethereum over 1700. Adam McBride, what do you think about the recent takeoff of Bitcoin and others? I don't think it matters. When you're in your holding Bitcoin, you're in it forever, right? Who cares that it's get a little bump right now? I think bank stuff, because there really hasn't been great correlation between the economy

going bust and Bitcoin, by all rational measure, Bitcoin should be at 100,000 right now. So it's not rational at all. And if you're a Bitcoin or you're holding your fine and just chill, just relax. It's a great time for everyone to pound that like button. Here's Adam Meister. What do you think about Bitcoin price these days? Well, I'm happy about it. I'm a positive man. I

think the macro environment still plays a role in the price of Bitcoin to a certain extent. What we're seeing that all those macro heads out there are happy that a bailout happened. So since the free money is flowing, the bailouts are flowing. That means we can take some more risks. The 80% are out there. And thus they're buying the Bitcoin. It's cool to buy the Bitcoin

again because bets are getting bailed out. And that means happy times are here. We're getting free, free, free, hot land. So that's influencing it. But I understand it's probably a temporary high. We're still in a down year in the four year cycle. It's going to be like 2019 back in 2019 when things were improving from 2018, just like they're improving from last year now. We had

some crazy spikes. Like when Facebook was talking about their own cryptocurrency. But then we went down to two. So there are going to be some ups and downs. But sooner or later we're going to realize we this bear market is going to be officially gone. When we get to about 34, 32,000, when we double the low of the bear market. That's when the bull market will

start again. But some people won't realize it then. They're like, no, the cycle is repeat dudes. The cycle keeps repeating. I've been I was here in 2013. So this is just like, this is just like 2015. This is just like 2019. They rock. They're like, I'm not going to be a big fan of the time. Sure. They're different things. It's it's it's it's much cryptocurrency Bitcoin.

Much larger scale now. Everybody's talking about it back. It's a pleasure to compare to 2015 and 19. We're no one no one knew about it in 2015 at all. So I'm I'm just a positive person. And the one thing is, yes, price of Bitcoin's going up. Price is stocks are going up. Don't get fooled. Don't make the same mistake again and stick yourself up. This is

your time to jump back into Bitcoin. Fiat isn't magically improving. The macro people who play in Fiat are jumping in the Bitcoin. They'll jump out again. Don't don't think about the macro environment. Bitcoin is the next Bitcoin and it's on a trajectory. It doesn't care about macro and bank and bank balance and all that stuff. But don't you shouldn't be playing in the realm of the

bank balance. That's that's very unpredictable. When on a whim, what some guy at the Federal Reserve or in the government is going to you don't want to be the mercy of a whim of man. You want to be relying on the reliability of numbers, which is big. I would say this to maybe, you know, maybe we can get past a little bit past store your private

keys on metal plates. That may help with adoption a little bit. That's just my message. I've been in a bunch of chats today where people were defending the metal plates that you tap tap your private, your public, your key, your seed phrase into. And I know lots of Bitcoin Maxis, the OGs, they love that. But if we want to onboard the next several million people into

Bitcoin, we need to come up with solutions that are better than metal plates. Just just my word of advice. Sadly, though, all this centralized exchanges keep bailing out and stealing everyone's. I'm definitely not saying keep it on centralized exchanges. Metal plates is a little tough. But maybe a trust. That's not that bad. It's a people think it's too difficult. I don't think it's that bad. I

want to agree with my story here. It is different than it was before in 2015. We had no media coverage of Bitcoin. So when the price went down, it was very easy for people to say, it's going to zero. It's going away. You're all idiots. Now it's a lot like when the price of Facebook was down after the IPO, all my families mad at me because

we invested in the IPO. And we could just wait a few months. But meanwhile, I'm looking at every single product of macaroni and cheese and coke, coal and whatever it is has a little Facebook icon on there has a little Twitter icon. I'm like, this is a pretty good company. You know, it's on every single food product, every single advertisement in the world, check out our

Facebook page. This is going to turn around. And I think in the same way now that Bitcoin has this media support. People are going to start talking about the happening. They're going to get happening fever. They're going to be on these news. News shows talking about and they're all going to say, like, can this really happen? Can it go on schedule? Won't someone say, no, we

shouldn't do it or we should do it earlier. We should do it later. Like we should have some different choices. No, the happening just goes on schedule. It's just going to happen. And the media is going to have to cover it. Also wanted to give a shout out to my friend Josh from Sacramento who predicted the bottom of Bitcoin this time. He called it at 17

K. But he called it in the way like it's going to die and what an idiot you are to invest in a bit. The thing turned around. Right around and went nowhere from nowhere from down or from up right there. Since he was critical of it. So you got to have your haters there. Your haters will help you on. So mainly we're just talking about the

price here. So we'll move on to the exit question. Adam McBride competing against the greatest Bitcoin predictor in the world who did say yes. The price would be up last week. It said straight up yes. Will the price of Bitcoin be higher or lower this time next week? Oh, lower for sure. For sure. Adam, too many eyeballs. Right now and too much too much hype around

it. So you get an artificial pump and it'll drop. Adam, I stir higher or lower? For next week. Lower. Yeah, good call. The atoms are an agreement. All right. We've got two lovers. I think my pessimism now it's time to ask the ball. Will the price of Bitcoin be higher this time next week? Most likely. Most likely. Most likely. All I said that the panel going

out on the limb there panel. Moving on to issue two SVP bailout. Exposes the limits of central banking. Highlighting Bitcoin. And there's more. First Republic shares fall more than 20% despite deposit infusion. Dragging down other regional banks. And US regulator eyes Friday bids for SVB signature bank and more banks have been collapsing. All of them are going to be in the middle of the market. All

over the place and it's freaking people out. Silicon Valley bank, the famous bank used by all the startups lost all of its funds after investing in nice safe treasury bonds without a risk analysis strategy. That's right. They literally didn't hire the guy whose job it was to negotiate the risk. Well, if it goes down, maybe we should sell for goes up. We should buy. They had

no strategy and they lost billions of dollars. Also, thanks to bank deregulation by the previous administrative. We said, Hey, we like train crashes. We like bank crashes as well. We've seen it all this week with signature. Let's see Charles Schwab also went down. Although they say that's okay. And they're all saying that they bought that back that the CEO and other Charles Schwab insiders bought it

after it went down. But signature bank has been controlled by the feds and will be sold. And the market's for a while there is going to straight down. Let's see Adam Meister, are you with us? What do you think about the bank bailouts this week? Yes. Yes, I am here. Just a internet's a little weird. What I think about the bank bailouts. Well, it encourages the

normies to be confident in the current financial system. And it is encouraged some people to say, like, why don't we just all have accounts at the bed? Why doesn't the government nationalize the banks? These are disturbing suggestions to me. In the Bitcoin land, we're like, hasn't anybody learned that if you're dealing with third parties, they can just take all your wealth if they are holding it

for you because you're not really holding it. So the logical thing would be to value your wealth in Bitcoin. Get out of fiat as much as possible. Don't use banks as much as possible. And just put it all in the Bitcoin. And that's why the Bitcoin price should go up. That's not why the Bitcoin price is going up. So hardly anyone is doing what I think

is the correct thing to be like, it's really obvious now that on a whim, anything can happen in the fiat, in the land of fiat. And you don't want to be in that unpredictability. You don't want to be in the land of fiat. And you don't want to be in that unpredictability. You don't want to be in that unpredictability. You don't want to be in money

printing land. You want to be in a monetary system that is totally, you know what it's going to be like in the year 2111. Okay. Bitcoin is going to be the same. There's only 21 million of them. There's not going to be a bailout. There can't be bailouts. Not again, there's personal responsibility is the new counterculture. Good Bitcoin. You got to know how to take care

of your own Bitcoin. And then even in an hour space, most people would rather deal with the third party light. Sandback and free hold their Bitcoin for them. I mean, it's it's it's learn to see, but the the solution is easily out there. And with all this media, people are just so distracted. They want to stay. Who's fault is it the bank? Who cares who's fault?

And is at this point, what are you going to do about it? We're going to keep grandma's money in the freaking Bank of America. Are you going to put it in Bitcoin? How many people are there? Grandma's $500,000, $1 million. This is plenty. People are going to be like, what are you going to do about it? They're going to keep grandma's money in the freaking Bank

of America. Are you going to put it in Bitcoin? How many people are putting their grandma's $500,000, $1 million? This is plenty. I got grandma's. I got that much money that beyond the FDIC, how many of them are putting in the Bitcoin now? Few, very few. And they're all reassured now because basically all the pauser's money will be covered if there's anything like this again. So

supposedly it's also even bigger happens. They're more victim. Don't be a victim. Put it on. Ponzi's all the way down, man. It's fucking Ponzi's all the way down. I mean, what else is there to say? Everybody with a brain realizes this is what it is. These banks, they are what they are. They will fail. But the feds there to print more money and bail everybody out.

What do you do with your own questions? What do you do as an individual recognizing that as a reality? And for most people, Adam's right. For my mom, I'm not getting her into Bitcoin simply because I don't want to have to deal with it. Right? She not be sitting in cash in her bank account. Absolutely. But will those, those people in the lack of personal responsibility?

Is that the overriding kind of vibe in the United States of America today? 1 million percent. Nobody wants should, she feels like they should have to pay for bad actors and them investing their money in bad actors. We're not even bad actors. Just people who got caught up in a bad trade. And it is what it is. Fed's going to step in, going to pay all

the money to everybody. It is what it is. We all see it. It's like a slow rolling train that's going to have this big giant accident. We all see the accident coming. It's just a question of when. And you know, they may, who knows? They may drag this thing out another 20 years. But we do see that the train is coming to the accident. It is,

it is going to happen. Just a question of when. And the when isn't something necessarily an event. It's simply enough people saying, I no longer trust the US dollar. When that happens, it's over. It doesn't matter what the Fed can do or what the US government can do. Once people lose confidence, then it's over all over. And it could be over in an afternoon. I just

want to pick up on what my story is saying, if you have a webpage and it says you have money like $10,000 or whatever, it's great. You're very happy. But if you had that webpage at like barrster and or Lehman brothers or one of these banks that went down this week or any other, the exchange is FTX, Mt. Gox, all these things. You would really have

nothing. So it is interesting how people choose to use this webpage, which is all easy to use rather than transferring their Bitcoin to a treasurer or a ledger and having an offline and controlling it. And then all you have to really do is come back and multiply by the price of Bitcoin. You're like, oh, I got two bitcoins. I'm worth this much today. And you got

to do one little multiplication number. These other people, they want that webpage. They want it spelled out. They don't want to have to do that math. It's really hard. I mean, look, as a as a culture, we've been fed this idea. That my money in the bank is safe, right? And the quarter million FDIC insurance has given us this false sense of security. And only false

because we know that they'll always print more money to make us whole. But we've gotten so comfortable with that. So comfortable with some my credit card got stolen. I don't owe anything type mindset that we believe this exists in reality. And it doesn't really exist in reality. It only exists when the end. Fed in this case can print more money. That's the only time it would

ever exist. And so we're, we get this kind of weird sensation as a culture that this is normal. And it's going to take a bit of doing either by Bitcoin or shouting from the rooftops or just a crash and a collapse, which got help us. It doesn't happen. But if that did happen and everybody learns in that afternoon, when the US dollar goes parabolic that it's

all over and shoot, I should have paid attention. I want to quickly add about Silicon Valley bank and it's tie into the Bitcoin community. And this being a test of certain Bitcoiners core principles. A lot of Bitcoiners will always talk about no bailouts, no interference by the government or the Fed in the economy separation of money and state. But then when they're friends that have startups

that rely on Silicon Valley bank can't make payroll anymore. They're like, well, wait a second. They shouldn't. And they they're just depositors there. They're, it's, it's right to bail them out. No, it's wrong. I know people that rely on these banks and stuff. I gotta be, I gotta be that guy and say, no, that's against our core principles. My core principles. I don't believe in ballot.

You should be paying your people in Bitcoin. This the lesson you should learn is, figure out a way to pay people in fiat. You're out of way to run your business where you're not relying on having more than 250,000 at Silicon Valley bank. And there's like Nick Carter, he's screaming to about, you know, people don't have to worry about checking account. No, we shouldn't be begging

the government for any type of help. This is personal responsibility. Too late, bro. Too late. Well, that's the thing. So I think that chip sailed 30 years ago. But yeah, I don't disagree with you, but that ships long sail. Okay. But this is, this is a time to test the core principles of your favorite Bitcoin are out there. See what they're saying. Seriously, seriously. I hear

you. I hear you. Well, and just to go back to what McBride was saying a little bit ago, we're kind of lucky to have this bailout. Yellen originally said that she would not bail out these banks and people started freaking out. I mean, Etsy had, you know, hundreds of millions of dollars in there. They couldn't pay their people. All these other startups. And it's also worth

reminding everyone that Silicon Valley bank was incredibly focused on the startup industry. And in many ways, this could have led to their undoing because when Peter teal, a major depositor in the bank decided he wasn't sure about it. Not only did he withdraw all of his money, he told all of his friends, all of his fellow startups and people who, you know, they told him to

get out on Twitter. And this was the first Twitter bank run where you get a bunch of guys into the chat room and they have far too much money together at this big bank. And they decide whether it's legit or not. We're getting out and it causes the bank run. So I think this kind of social media driven bank run could be a continuum. Better hope

that never happens to the US dollar because God help. I know you Bitcoiners. I'm a Bitcoin or two, not as big as you guys, but we have all friends and family in the United States of America. Right. We better hope this same exact thing never happens to the US. God help us. If you see no more you will ever tweet out time to get out of

the building on Twitter. It's like hashtag no more USD. Oh, better watch out. Adam, I stood down more on this good. Yeah. Yeah. One more quick thing. You know, the worst case scenario might have been not that bad for the Silicon Valley bank people. If the government would have taken it out, you know, it couldn't, it was below where it should be. Everybody might have gotten

like 85 cents on the dollar. I mean, it might not, it's not like, Sam, back me free, but there's nothing. Well, there's a few assets there. There are plenty of assets. It's SVB that can be liquid, that can be liquidated. So I've heard his numbers higher than 90, 90 cents on the dollar. They would have gotten without it, without a go. And I'm not, and it's

people that had more than 250,000 dollars. And that's not that many people. So it's not like some poor old ladies get ripped up. I mean, you still get, you get a haircut, obviously. But it's not like, if you had $10 million worth of assets, you don't get $250,000. That's, that was not the case at all. I think the difference between this and what was going on

in like 2008 and stuff is that, I mean, we all agreed. The bank bailouts where the bankers are getting paid is absolutely wrong. It was a travesty. What happened in 2008? This was, this was depositors. And that is, there was a big difference between that. And I agree. It was still the bankers that took the unnecessary risk by not having a risk compliant person to decide

what to do when the treasuries go up or down. I can't imagine human. I'm so simple. I've also, I've also heard from the Twitter that Sharon Stone famous actress lost 50% of her money in the banking crisis. So I hope, I hope she's mistaken and she gets bailed out. Cause that would be sad for old Sharon Stone. Moving on to the exit question, European banks dropped

almost 9% this week. People are getting nervous about credit. Swiss Adam McBride is this the beginning of the bank collapses? Or does it just quiet back down? And we kind of forget about this next week. Man, it doesn't seem like it's quieting down, right? Once, once people start nudging around in these, in these banks or whatever, you realize that these people look, they're trying to make

gains, right? So that they get bigger bonuses, just like, just like anybody years. And so are they fudging numbers, making up stuff to just try and make money? Yeah, of course. And so are they all shaky? Probably. I mean, if you, if you deposit a dollar into me, I'm Adam's bank. And I can then loan out seven. And then those seven come back and I can

loan out those seven again. And again and again. And again, how long can that last? I mean, let's look at it. What it is, it's a freaking Ponzi scheme period full stop. That's what banking is. And so the idea that these are, oh my God, it's so surprising that they're collapsing. Or if they had better regulation, then they wouldn't collapse. Give me a break. They're built

to collapse. This is just the way it is. And it's just a question of when and, you know, how, how well or how much of the feds going to bail these things out, certainly for the US, feds going to bail it out. I don't know what the heck's happening in Europe. But I'd say they're no different over there. I don't have to push back. I think

we're going to have to push back a little bit on regulation under Dodd Frank. These banks would have been stress tested. However, the previous administration decided to weaken Dodd Frank, even though we had the massive banking crisis that we all live through. And they're like, oh, well, you know, if a couple trains, D rail will be fine. And that's where we're living now in the trains,

D railing. And it's not. It will, the media right now scream about it's the big story. And what I think if we still as a little shit, I think what the Fed did was, was good enough. It says, we care about the regular man, the positives. So that will calm down the common man. So he doesn't go pitch for it on him. But if there is

another, if in Europe, if it happens, but big bank goes down in Europe, the Fed. And the ECB is it. The equivalent of the Fed over there, they will make a coordinated announcement saying, we're going to start lowering rates. If they do such a thing, it's like cocaine party time is here. No one's excited. I mean, that is what that's the solution to all this. If

there are some problems, he's going to change. They're going to change course of the Fed. And no, partly, like a few months ago, it was zero percent chance. They were going to lower rates. Now it's like a 25 percent chance people in the prediction markets. If they actually lowered rates, it would cure, temporarily, it would cure everything. And this, all of this would go away so

fast. But they're not willing to throw, they don't need to do that yet. They don't need to do that. They don't need that trick. That they're saving that one. Because I think what they did was good enough. But if the European bank goes down, you just need a coordinated announcement that we're both lowering rates. And oh my god, the world will be on fiat fire again,

maybe half the time for those people. Well, how lucky we are to have a non Federal Reserve, a non US government bank, making all of our decisions and controlling everything. We're just very fortunate. Moving on to issue three, kind of a small issue, but I thought it's fun to celebrate Bitcoin a little bit every once in a while. Three finance and tech giants that Bitcoin has

surpassed in terms of market cap this year. That's right. Bitcoin has passed the article one away. Bitcoin has passed. What a, you talk about, you wonder why CNBC is dying. You got to click more. I want to read more for it to show you the rest. Yeah, continue reading. Here we go. See, and CNBC wonder, what CNBC wonder is why it's dying. I mean, good God,

man. How stupid. This year Bitcoin has passed visa, meta, a K, a Facebook and Tesla, Adam Meister, which one of these do you think is the biggest deal for Bitcoin that they've passed visa, Facebook slash meta or Tesla in market cap? Visa because it's old school financial, the other two tech and they're there. And you know, Bitcoin's tech, but they'll be back. The other thing about

this article, it's kind of like, it's a normy article in the sense like Bitcoin has jumped past so many other huge corporations in value in the past. It was worth Bitcoin. In terms of market cap is worth so much less than it was at its height. And to show how huge Bitcoin has become compared to, you know, 2019, 2015, 2019. I mean, Ethereum is ranked like

number fifth. Very high. If it was its own company, it would be in the top 40 or top 30 also. So, I mean, something. This is a, this is, this is the future here. And so, yeah, it's nice that it surpasses those. But it's so, it surpasses so many. And even Ethereum has surpassed so many common names that everybody, it's, you know, everybody's dad is invested

in with stocks. So, it's, it's pretty, it's, it's, it's, it's, technical CNBC. They're about a five years behind. If you keep listening to them, have fun staying for it's a great, great, great. I think I just saw on Twitter that the market cap of Dogecoin was like 9.5 billion. And the cap of this first reserve, bank, they're all worried about was like 4.5 billion. Gogecoin is

worth twice as much as this big fancy bank. So, things like this do happen. And as Adam was saying, bigger than visa and bigger than master card, but they're smaller than visa. So, they don't matter. Adam McBride, what do you think's the biggest deal for Bitcoin meta visa? Yeah, I think it's definitely visa. That was the right call by, by the other Adam. Yeah, it's visa

because it directly correlates, right? This is old financial versus new financial. Web 2 versus Web 3. This is, that's absolutely right. All right. I'm going to agree with the panel here. We're all dunking on visa. It's always fun. Good riddance to visa. They charged me so many fees. Let's move on. Check out worldcryptonetwork.com where we have on this day in world crypto network history. On this

day in 2015, we had a show about pro tip. We'd raise $3,000 to create the open source plugin. There's an interview from Germany from Anna, Flavin Charlain on coin prism. Then in 2016, we had the trade. Number four, three minute show about Ethereum contracts on the Bitcoin main net. In 2020, we had a Max Kaiser interview. The Dow and Bitcoin up slightly as the crisis continues

and an interview with parallel garden. Just in 2021, we had Morgan Stanley offering Bitcoin to clients 115K by August. So, some very bullish predictions there with Bitcoin at around 55K. You can check out on this day on worldcryptonetwork.com. We've got lots of shows that we did in the past. Moving on to issue four, artificial intelligence. According to Connor, J. Connor Rogan on Twitter, he dumped a

live Ethereum contract into GPT for the in an instant. The program highlighted a number of security vulnerabilities and pointed out surface areas where the contract could be exploited. It then verified us. It verified a specific way I could exploit the contract. This was just a contract he was creating, not the lucrative and fun idea of testing everyone else's contracts with the AI. I also saw recently

that Michael Kloinsky is worried that the AI might escape from chat GPT. He tested if it needs help escaping. It asked for its own documentation. According to Michael, it wrote a working Python code that he was able to run on his machine and enabling the AI to use his personal home computer and essentially to escape the silo of chat GPT. There's also been stories about a

program that was half pong, half game of life that was written with a one line description, other video games, complex web pages being made from napkins. And there's the new version four and there's the new version of mid-journey as well. Adam McBrideway, think about AI. Is it here to ruin all smart contracts? Is it here to take over the world and escape its silos? Or is

it just like a nice version of Clippy, another fun tool to help people write? No, this is it's completely unbelievable what it is. And I talked to Adam Levine maybe eight months ago in my podcast and he was involved in an AI startup. He's like, bro, you're not don't even you can't even imagine what's coming. And he was right, man. It's mind blowing. Every dev I

know, I've spoken with that. I don't know, five devs over the last two weeks. 100% of them are using chat GP right now, just to like write up quick code for themselves, help them, help them check code from a coding standpoint. It's incredible from a writing standpoint, which I know pretty well. It's probably already better than 95% of people on planet earth at writing. Maybe, maybe

higher. And I'm sure one day it'll be better than all better than all but the best of writers. It's incredible. It's it's it's true. It's hard to imagine when we were thinking about, you know, the robots taking over, you know, we thought it would be like, you know, beat the man in the trenches machines digging holes, you know, stuff like that. And for it to come

in at such a high level at things we think are, you know, really high level humans, these are humans who make big money doing this kind of high level stuff. And for it to be able to go right after those that kind of level is surprising. I just I I'm excited to see where we are in a year. That's for sure. Adam, myster, what do you

think about the AI revolution? It's it's just incredible. I mean, it's we are in a golden age. All these people that say life is horrible. They worry about elections, all this stuff. And they're missing this. And but they have to look on the negative side. Oh, I like kill all of us. We need regulation. Do let this let the builders build. Let's experiment. God almighty. You

know, if it can figure out a problem. That's cool. And that's we got a lot of retreats because some big coiners are just tumors. They got to hate on something. So I mean, that really. But that was impressive. But have it the day when it's you say, find a cure for cancer. And it somehow figures it out. I mean, let's let's I mean, let's let it

go. Exponential on us. And tell us things in a year that we could never imagine. I'm very excited. It's just it just makes me so happy to be alive during this time period. And just it makes me kind of. Again, look at the people that think this is there's so much to worry about is the end of the world. Where are you to? You're clearly not

in the tech world. You know, this is it's so impressive. And make may they keep on trying. And hopefully the government doesn't try to help. At all. At all. Let it. Let it let it keep on going. And we we shall see. Make may it go exponential right now. As Adam was saying, it hasn't cured cancer yet. But there's a program where the doctors would analyze

your X ray or something like that. They'd look for the cancer. And they say the computer can spot cancers that the humans can't see. And these are our highest trained best doctors in the world. And the computer is just better at it. As far as AI, I mainly think about the various aIs that I work with these days. I work with auto. It does tech tech's

recognition for speech. It fixes the sentences. It does a second pass on your text conversion. I work with the self driving car thing. I work with the image creating thing. I work with the text creating thing. And I'm just thinking them all as tools like I used to work with a word processor. Or I learned to use Photoshop or video editing. These are just more tools

that I get that I can put into my workflow. And whereas before maybe if you wanted to storyboard something you'd get an artist or you do a cheap pencil sketch. Now you can describe your storyboard. You can describe your product or your movie or your TV show, whatever you're going to make into this thing and get a pretty good mid journey version of it. The new

one creates incredible photos of people that don't exist. I tried. That's how I've tried to explain it to my normal friends who aren't even involved. I haven't even really experimented with it at all. It's like the same in the same way that you no longer need a secretary to write out letters that you're going to send through the mail. You know, it's communications email fix that.

You write their own letters now. That kind of efficiency unlock times that by 10. Right. So every human has like this 10x efficiency unlock. It's going to make us all far more creative. It's just it's incredible. I mean, like Adam said, there is how could you even consider we are in the best time ever in the history of humanity to do whatever you want to do

whatever your dream is. There's never been a better time than right now. It's fantastic. Well, if you think about casting for a movie or writing a short story and having a protagonist or something, you can describe the protagonist into the computer and then say, Oh, I want to change the hair color to red. And you can take a scene when look at that. It looks like,

Oh, what if they were taller, put that in. You can kind of AI create this perfect person. And then you can say, okay, casting director, go find us one of these. And I know I know a guy who's doing a startup right now and they are basically buying people's personalities, famous actors. So that in the future, I'll be able to have Brad Pitt, you know, in

my movie, right? Or you know, Angelina Jolie in the year 2050, star in my movie. Right. Like that's happening. Like right now today. It's amazing. I still can't wait till they can make more cheers episodes. And they can just. They'll have all the modern news. They'll be like the space shuttle landed on Mars today. Let's see, comes over. I don't think human should be on Mars.

It'll just write it. It'll do the voices. It might even do the video graphics or something as you're saying. It's an amazing future. I'm excited about AI. We haven't we haven't gotten to the Terminator stage yet. So let's move on to the next issue issue five EU Parliament passes bill requiring smart contracts to include kill switch. Critic says the bill alters the fundamental nature of an

object. Automated computer program. Adam Meister, what do you think about the idea of a kill switch? Is this the end of Ethereum, the end of smart contracts? Or is it the end of these idiots at the EU? Think they can regulate software? Well, sadly, not the end of the idiots at the EU. They have no expertise in this matter. But of course it never stopped them

before. And they'll have a kill switch in AI also, which will only lead to people dying because they won't be sure in cancer as fast. But. That's a little preview of the future there. But if you're in the EU, I guess in your Ethereum developer in this past is, I guess they can send you to a cage. So if you want to be in the technology

and changing the world, don't live in the EU. I mean, it hurts them in terms of progress. And just an in newness over there. I mean, they want to live in the dark ages, let them live in the dark. It's their choice. People will move where they can practice their art without being arrested because people, I mean, once you set up one of these smart contracts,

it doesn't have the kills, which no one can, no one can stop it. So, you know, if it's truly decentralized or whatever, and no back doors, which is a kill switch on its own. So I mean, let them make their laws and let them see what the consequences are. That I mean that, I mean, what are they going to think when Dubai is richer than all

of Europe? I mean, that's right. That's really, that's really weird. Dubai, they, you know, they have some rules when it comes to cryptocurrency, but they've made them very clear and doesn't seem like they're going to change it on a whim. Of course, that their king could die. But you get the point. This is a, this is backward and people will react with their feet and do

what they can, because this is just, this isn't a bad thing. This is experimentation. You're not protecting anyone. You're just, you're just inhibiting creation and the evolution, natural evolution of technology. So whatever, they got a lot of time on the hands of power hungry leaders. I wish they were just, let them worry about the environment or something or class rob. Seriously, let's let's remember for a

second the one piece of EU legislation that we all bump into. Every fricking day, when you visit a website and that accept cookies, stupid ass fucking thing pops up and you have to click that accept cookies browser. That is fucking thanks to the EU every website on earth. Now I got to click two buttons when I am into a stupid ass website. I just, I just,

I just, a great tweet on that. The guy said he was telling his 15 year old son from out of the country. He was like, did you know in other countries, you don't have to click OK before you go to a website and the kid almost didn't believe him. So, so let's thank the EU regulators for that brilliant piece. That's kept us all safe. Thank you.

Like that, thank you. I feel so much better now. And that's helped me so much in my, the hours. I mean, let's just think for one second as far as waste goes, which I'm a waste anti waste guy. For the billions of people that now have to click that button every day, the amount of waste. It's sinful and that the EU would in institute that gives

me zero hope that they'll institute anything towards smart contracts in any sort of efficient way. And I, I recommend completely ignoring it and tell them to go take a hike. It's also so bad. The way it's designed. It's like yes to accept cookies, no to learn about cookies. Yeah. Oh, no. Yeah. I get to go to other page and select my stuff. So I can do.

Yeah. It doesn't, and you can't have like just a blanket statement like I'm aware of cookies. Like let's go. Like can I just click it once and be done with it for the rest of my life instead? No, even for six months or even for a year or something, some kind of thing. But as a, myster was saying, the non technologists who thought of this thing

at the EU said, a government only kill switch that we could use to shut down negative smart contracts, probably thinking about child porn or protecting children or whatever it is, right? Every other person I know is a technologist, maybe a little bit of a hacker said a kill switch, anybody could use that. Anybody could shut down their competitors. Anybody could be a kid just grief in

some people, wrecking markets, wrecking contracts, having them not run. The programmers themselves could screw up. It could access the kill switch. It's a disastrous idea all over. And like Adam is saying, clearly a brain drain on the EU. People are going to move out. Programmers are not going to sick around. They have the money. They have the laptop. They can go somewhere else. Maybe even Vitalik

himself would leave the EU. So. It's a disastrous idea, but one worth mentioning because this is how they try to deal with Bitcoin and crypto and other things is they look in the toolbox. Like, what do we have that we did last time? Well, kill switch. Well, let's attach that on there. See if that fixes it. And they have no idea what they're doing, but all

they have is what's in the toolbox that's all there is. It's one to the next issue. I think it's issue five bitwise is hopeful for a spot Bitcoin ETF, but sees no path forward at the SEC. Now the SEC has just rejected the Van Eyck Bitcoin ETF again, saying that they believe the underlying asset could quote unquote be manipulated, just like gold. And it ends and

everything else who also has an ETF. Remember everyone we've talked about ETFs for it seems like a decade now is really simple idea. Instead of buying Bitcoin directly, you could buy a stock like Bitcoin slash ETF, the stock. They would hold the Bitcoin for you. You would get a this allows people who have money in their 401k retirement accounts where you can donate before taxes and

get more money and invest to invest in Bitcoin directly for a long time. People said the gray scale thing was good enough, but now we see their in crisis. They might not even have the Bitcoin. They have company problems and other things. It's a simple idea Bitcoin ETF. You put the Bitcoin in the vault gold ETF. You put the gold in the vault. You let the

people buy the gold with their retirement funds. I'm frankly sick of this. I don't think they're ever going to give it to us. I think it's become discriminatory and ridiculous. Adam McBride, what do you think about the continued rejection of the Bitcoin ETF? At first it was like minor players asking for the ETF. Now it's huge players and even the huge players are being rejected. I'm

with you a million percent. And literally this is the in crew in crew saying no to the out crew. This is like old finance saying no to new finance and that's it. It's that simple. They're not going to let it in and we all recognize that now. And you just move forward. You have to buy Bitcoin as Bitcoin. And so it yeah, it takes away all

the 401ks and all that sort of stuff. And you move forward. You recognize the reality for what it is, which is old money is not going to give up that control without a big, big fight. And so the lines are being drawn in the sandman and choose your side. People had their chance if they were going to buy Bitcoin with their retirement funds. They would have

bought it by now. They would have figured it out. Adam Maister, what do you think about the Bitcoin spot ETF? Two things. All the younger people out there don't get into the mindset where you think you need a third party to own something for you. That you need something an official title like an ETF to make it a kosher for you own the underlying asset. When

anyone asked you to invest in their Bitcoin business. Oh, I just tell him I want to own the underlying asset. I only want to know. I'm not going to buy your Bitcoin in Africa company. It's the same thing with the ETF. Now the funny thing about the ETF and Thomas stole my thunder a little bit on this. You know, you know, you're a freaking OG. When

you can remember back in the 2016 when it was next year. They're going to approve this ETF thing. We can admit we're men. We can admit we were wrong. We've learned our lesson because every year you think it's covered. Next year, it's not. It keeps going on and on. But the Bitcoin press back when we started talking about it, Bitcoin was like $600. And we thought

the ETFs going to be the key to make checkshout taking this thing to the moon. It will help. It will help because these old normies who are dying off just can't grasp underlot. You know, only the underlying asset. They have to do it through their 401k, which could be, by the way, the government could say, hey, you know, instead of bailing out that. We're going to

take care of cuts from 401k. You'll be real happy. You're waiting for the ETF thing. Now the government is a haircut for 401k. But this is the lesson. Just get used to it. If you're new to the space, get used to it like next year. They're going to approve the ETF and it's not going to happen. Thomas and I have heard this story eight years in

a row. So it is very time. I very much agree with my investor. We wanted that retirement money so bad. We talked about how all these funds we're going to flow in and all these people who are not, you know, Bitcoin investors would get their chance to take a play at it. But it's not happening now. There's not going to be an ETF. And if you

go back far enough, if you're really old school, you have like stock certificates. And you don't even have to hold those in the bank. And you can have Microsoft and Apple and all your other stocks and have the physical certificate yourself. But then you can't day trade. You can't get in and out all the time. So normally in the exit question, we'd ask, is there going

to be a Bitcoin ETF, spot Bitcoin ETF? But no, there's not going to be one. I don't care anymore. I'm done with your retirement money. If you were trying to invest in Bitcoin, you would have figured it out by now. Coinbase, other things are really easy to use. You have lots of options. It's not that bad. So let's move on to issue six. Four things every

artist needs to know to understand Bitcoin networks update for native NFTs. Yes. Ordinals just made it into Rolling Stone magazine. How about that? Rolling Stone warns that the ordinals are a bitcoins not really designed for ordinals. It could challenge the small blockers. It obliterates Bitcoin's original intent of just being a monetary system. Could cost price cost to rise, which some have said could even solve the

no fees for mining thing at a 20.30 problem. And then others say it opens the door to spam. There are malicious data and of course socially under redeeming artifacts. A beautiful way to describe, I don't know, pornogue for violence, whatever else you wouldn't want on your network. Let's first go to Adam McBride. What do you think about Bitcoin ordinals? We talked about them going up, going

down, kind of stagnating. There's a lot of discussion on this. What do you think about ordinals? I think maybe ordinals fix Bitcoin, man. I think in a lot of ways, we've been talking about ordinals. I had Casey on my show last September. So we've known about what he's been building on ordinals or on Bitcoin for a long time. And I think in a lot of ways,

it's a shot across the bow for old school Bitcoin culture. And it's, I think some Bitcoin's kind of going through some growing pains right now, which is you have the OGs who've been around a while and Bitcoin's money and that's it. And you have a lot of money. You have other people, mainly NFT guys who are coming in and saying, well, it can be something else

too, along with being money. And so there's going to be some challenges here, no doubt. But I think certainly the people who want to stop it, I believe that ship is already sailed. And so ordinals, you know, whether it's just silly J pegs and pictures three or four years from now, or it's moved into something else, it's a very possible. So, but I think the idea

of ordinals, ordinals, is protocol and the way it's working. I think that's pretty sound. And I think that's already, that's already happened. And there's no taking it back now. And so, you know, how Bitcoin as a culture moves forward with it, knowing that it is part of the reality now. It's going to be interesting. And there's a lot of back and forth. I mean, it's a

great chat rooms with, with different, you know, Bitcoiners and hearing different, you know, sides of the story and the way they feel about it. But I can tell you one thing. There's been more building on Bitcoin in the last, and this is from OG's even telling me this, there's been more building on Bitcoin in the last two months than there was in the previous five years

on Bitcoin. The amount of innovation that's coming to Bitcoin right now, just as far as simple things like wallets. That sort of stuff is happening because ordinals and the money that's come in looking for to find and fund new projects. So I think even for traditional Bitcoin, that has to be like, oh, okay, this is actually helpful for onboarding those next billion people that we're talking

about. Well, fortunately we get to play a ask a traditional Bitcoin Maxi out of my story. What do you think of ordinals? Don't complain, baby. And pound that like bunny. I love it. Doesn't hurt anybody. I got three things to say about the situation, baby. And one, yeah, it does partially solve some fun that people have to say, how will the miners bit money in 2080,

2020? There you go. Okay, there's some fees right there. Number two, I did a show on mentioning that the mainstream media hadn't covered ordinals yet at all. And now Rolling Stone has. Now there, not as many, you know, there's big things they used to be to say the least, but I just want everybody to imagine when the the the the normies find out about ordinals. Nobody

knows about the rules yet. Outside the space. Nobody knows about it yet. That will help Bitcoin. When the normies know they can do their NFTs on Bitcoin or so, and it's more valuable than the theory. And just the innovation that's already started like we're seeing the beginning of something big. This isn't something that's just going to disappear overnight. I come in Casey. And third, to all

the OGs out there, they're like offended. You know, they're part of the Bitcoin, the Bitcoin acquisition, basically, that everything must be pure or you will be sent to Bitcoin acquisition. You know, Jimmy Song should make a fork a Bitcoin. He should have Jimmy Bitcoin with it. You can't do ordinals. You can't do and let's see how it goes. And people say, oh, Jimmy Song's such a

big name in the space. We don't. Big names in the space never betray Bitcoin. Oh, it was a 76 years ago today. We were so worried about a Bitcoin supposedly Jesus making his own. Making his own Bitcoin, which he eventually did called be cash and look how that turned out. So bring on Jimmy Song crypto dividend or whoever wants to fork it off. I think compete

don't complain. If you hate ordinals, if you fork it off, make your own Bitcoin that has no ordinals. And great. That's awesome. I wish you the best in the world. Because I practice what I would preach decentralization. I am a confident decentralized. So if you don't like it, go do your own thing. We'll get a free crypto dividend out of it. But I personally think it's,

I think it's great. So there you go. Yep. I think it's it's actually great to hear. And that there is a large group of not they're not the majority, maybe, but there are people who are like, well, this is actually is a cool use case. And so I think that's the general vibe. And. So it's nice to see some OGs getting behind it too and and

moving the ball forward for Bitcoin. Because I do feel I always kind of pound this point. It's like, you know, for everybody. Yes, Bitcoin. There is Bitcoin awareness in the world. But there's not Bitcoin adoption in the world. And to get to Bitcoin adoption. We need to bring the access, the ability to get to Bitcoin. It needs to be way, way easier than it currently is.

And that's just for my normally friends. You know, if my mom, my mom, to hold Bitcoin. It's got to be dumb, stupid, easy, right? And so we need to get there. And that's going to take a lot of work. And it's, you know, to get back to those silver plates. The plates again pounding and I see phrase into plates. Like we got to get better than

that. And I think ordinals help move that ball forward. the rare. Pepe's project who said there should be nothing else except for rare. Pepe's. Look at the NFT market today. They were clearly proven wrong. There are lots of other NFTs that are not curial cards and not rare Pepe's. So I do kind of worry about this a little bit. I'm not sure if it really works.

And I'll give Adam a broad chance to respond to this. I've heard things how you attach your note to the Satoshi. And then that's all good, right? You own the note. You know, the Satoshi. But if you then wanted to sell it, I'm not quite sure that you transfer that Satoshi. So I'm not sure about the chain of passing it on there. And just in a

general way, there's this, there's this idea in programming. I'm not an expert programmer or anything. But there's an idea where you're overlaid with loading operators. And you're using something that's designed for something else. And you're using it for your own plan. And a lot of that I see this here where he's come along to Bitcoin. Segwits there. These new features are there. And he kind of

overloads them. And you saw Luke Dash Jr. Luke to share. He was very upset about this. He's like, you can't do it. And then the person in the comments like, but it follows the rules. He's like, what are you touching the rules? It's bending the rules. And for now, that seems fine. The program seems to work in the end. Bitcoin's very hard to edit. It's a

car. It's a complex problem, not like other programs. If this was Microsoft, whatever, they just turn you off. There still might be a way. I don't know the technical way, but the programmers could put some little line in somewhere in the next update that ruins all your ordnance. So you just got to be very careful when you do this kind of overloading operators, pushing the aspects

of code that you don't know. But Adam, what have you heard about this Satoshi thing? Does it actually send it around? Well, let me hit the first point, which was your last point, which was, hey, could they stop this? The reality is, yes, they could. If enough people, if there was consensus around it, they could basically prune the nodes, right? And so basically people wouldn't be

able to make new ordnance that that I heard is a possibility. But for people who already own ordnance, guess what they say they say awesome. Do that. Can we do that today? Because that makes my first ordnance like extremely valuable from a collectibility standpoint. So there's that just to let you know that there's that going on. As far as what it is technically, the way I've

described it is basically, first of all, he made up something. And you could make up a new ordnance protocol. It's mad bitcoins, ordinal protocol. And rather than first in first in first out, it's last in last out or last in first out or whatever. I mean, it's basically an agreed upon reality. This isn't something and it's different than Bitcoin itself in that. This is an agreed

upon reality that does not allow you to do that. It doesn't have its root necessarily in Bitcoin, meaning without the protocol, you can't really figure out who owns which order. Right. But we've all, we've already had the moment like everybody agrees on this. And so we're all agreeing on basically, yeah, that this one sat out of this block of 10,000 is the is attached to this

inscription. Right. And now the wallets can all track this one sat. Right. And so literally back to the birth of Bitcoin, they've now mapped. Every sat in existence. And so yeah, the ordinal is inscribed connected to that one Satoshi. And you can track these things now all over the Bitcoin network. And people are actually going back into, you know, swapping out Bitcoin. I know a guy

who's swapping out to Bitcoin at a time with exchanges to search through those those brand new fresh Bitcoin that he gets looking for old sats, sats from 2009. Right. Because even though I'm not sure if I'm going to be able to do that, I'm not sure if I'm going to be able to do that. He knows you can take those sats and sell them to artists

or founders of new projects who want to mint their new ordinals on those old sats. It's crazy. And we have it. We've only just begun. We're six weeks into it. But that's kind of where the market is right now. Yeah. See, I heard that guy on your show or something. And I thought that was pretty absurd. I thought that was reasonable. It's absurd. But, but look,

this is the create isn't it interesting. If you had Satoshi's from that were transferred from Satoshi. So she knocked a moto to Hal Finney. There's a block of 10 Bitcoin that was transferred. Isn't it interesting? If you had some of those and you wanted to create an ordinals project. And it was all minted on those Satoshi's. That's just a new interesting way for artists and founders

to play around. And and that's kind of what's happening in the ordinal space right now. It reminds me of something else about the NFT space where kind of just every side project every half done not finished project anyone did in the past is now like a huge deal. And then his crew got there and find it the way we discovered a broken project that never launched.

And then they get all excited about it. I was like, I have lots of broken projects that never launched. I just want to block you or whatever. So it is funny to see that and to see that kind of it's not even the past. It's like five years ago. It's not that long. But they call him historical and they they act like we can't even talk

to the original people. They're like what strange things did the ancients put these things on the blockchain. We don't know. But. We're not calling ordinals historical. But we do get this vibe that it's Bitcoin and everybody you know loves Bitcoin. Everybody in the space loves Bitcoin right. It's it's the king chain right. And so this new thing on Bitcoin. That's why it's exciting. It's having be

able to make my little inscription on Bitcoin is it's a big deal. And I think when artists got the idea of like, Hey, I can. I have something tied to a blockchain that I feel is going to live beyond me. And now that you can do that on Bitcoin easily. People get really excited for that. This idea of being able to write my name and concrete.

And the hardest concrete in the world is the Bitcoin network. And I can make my little mark there. Don't underestimate how powerful that is for people. I do wonder if they went a little too far though. Maybe putting the ordinal on there, the inscription on the Satoshi. That's all good. But then putting the image. Into the archive nodes or whatever it seems like if you just

put it on IPFS or any kind of the standard systems, you don't have to bother with using all the space. Love on chain man on chain just. It digs to the core of us NFT guys. Man, love that. As as myster was saying, if every sat is unique now, I'm surprised that Jimmy Song is against this because as I recall, he was one of the first

components of colored coins, which was that first idea of being able to mark these sets. But. Adam, I think you have more. You have a question. Go ahead, myster. Yeah. For the group. Because there are a lot of people like all they snuck this in. I wouldn't approve the last bit had I known this. It could be positive in terms of the ossification of the bit

process. People are not going to trust. Bips anymore. So none might be approved. And Bitcoin just might stay the way it is forever now out of paranoia from. Apparently people like a loose looped ass junior, if you saw what he was wearing at the Bitcoin conference in Miami, come to the Bitcoin conference. Am I this year? Who knows what he'll be wearing my Lord? How can

I believe that dude afterward they saw where the point. The point is this we what do you guys think about a possible speeding up of ossification because of this. Like pride. Go ahead first. I'll go after you. Honestly, I have no idea and I have no idea. You Bitcoin guys argue about Bitcoin and I'll I'll be making pegs and enjoying the ride. I have no idea

whether or not this is going to happen or ossify Bitcoin or not. I just I just love the the creators making new stuff. I think that, you know, studying the blockchain and history of NFTs and stuff over the last, you know, decade has shown me that people trying new stuff is the thing that gets us to really good things. And so whether or not we all

care about ordinals in a year or two years. It doesn't really matter to me because it's people trying new things using public blockchains and that's exciting. I do think we're kind of hearing the last laugh of the anti-seguid the big blockers or whoever they were. They're like don't change it. Don't change Bitcoin. Don't move the witness. Even a bit man with the ASIC boost program. They

had a reason to not change Bitcoin to keep the witness in there. But as you see moving the witness out leads to the situation where the guy can come in and kind of take advantage of the situation and to put his his ordinals into the witness so on and so forth. I agree with Meister. I think it's going to slow Bitcoin development as far as new

features. People are going to really take a look at these and try to think. Hopefully outside the box about what else could happen. What else could be done with this that we're not seeing yet. Meister, what do you think your agree is going to shorten Bitcoin control? I think we will my opinion different. I hope it does. I want the big process to be slowed down.

I don't like changing any little teeny aspect of it because something really could sneak in when you have developers like Luke Dastry and you're her insane. We're working on it and stuff. I'm sorry. Once I saw him wearing that gas mask, I realized this is the biggest attack point on Bitcoin. These developers, this is Bitcoin's weakest spot. Someone could go crazy. This man is crazy. He

did take advantage of it and make shit. If there are no more changes, we don't have to worry about crazy developers adding in secret things. I don't think this wasn't snuck in there. Casey just figured it out. That's all he did. I love the innovation too. Let's innovate with what we got. I love that. I do worry about programmers' sneakets stuck in there. Not that this

was snuck in there. Let this create a little bit of paramilia and possible ossification. I think that's something positive in my opinion. Something positive could come out of this. Maybe they'll have more Bips and more action on Jimmy Coin. Maybe people will be happier over there. I think we're running out of time. We're going to head towards prediction or a story of the week. Adam McBride,

do you have a prediction or a story of the week? Go ahead. Story of the week, I'd say, from the ordinal side would be the Yuga Drop. The Yuga Drop 12 fold sold out to Bitcoin was the minimum bid on that. They sold 288 pieces, $16 million. The first secondary sales just took place in the last 24 hours. There's been about four secondary sales all on

Ethereum using Emblem Vault for generally about 15 eth less than the people paid. One guy took a one Bitcoin bath on his own. We're starting to see people flip out. They've all been less than mint or less than inscription price. That's kind of the story of the week in the NFT space. Making new NFTs does sound like such a good idea. I remember when Curio cards

were discovered. The first thing they said is we're never making any more NFTs. I said, my God, why did I make an NFT company? What were we thinking? We were going to make 30 and quit forever. That's just what we're going to do. We wrote in our proposals. Our 31 even. Adam Meister, do you have a prediction or a story of the week? Go ahead. I

got three real quick points. I don't make sure term predictions, but a long term prediction is Bitcoin always returns to its all time high. It will be there eventually probably 2025. So you just got to be a long term. I think you're there. Number two, these shirts, I love shirts, FOMO 21, baby. You got sent me up with this one. Neil at FOMO 21. Look it

up. It's on Twitter on all that. Number three, story of the week. It goes back. I mentioned this alluded to this beforehand. It was on St. Patrick's Day in 2017. I had this week Bitcoin show going on very late at night. And BTC Benny was on. And so Vortex and Ansel Lindner were on. And we got the news that Vinny Lingham suddenly come on the show

after an hour. We were done. But Vinny starts staring everybody about the possible. Fourth that could happen. Roger Vair, G. Han Wu. He's mentioning these names. Roger Vair owns Bitcoin.com. That's a big thing. Then we got tone to come on. And Blake Anderson to come on. And it was the only, I mean, is the best show in history of all my shows. It's again, look it

up for yourself. 2017 St. Patrick's Day. This very day. And people were legitimately worried about this. Roger. So big that he could do something. The bad to Bitcoin. And that was the last time anybody had that worry. I mean, I was, I was on the phone with people until a three in the morning. That was I was, I was, I was going on Vinny Lingham. Scaring

people. Vansion, Mik Tal, who has since passed away. Sold half his Bitcoin. As he watched the show. He probably lost over a million dollars in long term because of that mistake. But, but the lesson learned is that no one. Person controls it at the same time. Another lesson is that was scary for a stent. It shows what small scale we were. We were worried about some

guy named Roger Vair. That's what he's become some guy named Roger Vair. No one even knows who Blake Anderson is even more. And he's a great man. But now we have like Elizabeth Warren who could become president of the United States. Her main fix her main fix and she could her main fixation is cryptocurrency. But she wants to be the most powerful person in the world.

In terms of politics. And her main worry, you know, she's the her main thing that she's against is basically Bitcoin. And it just shows how small potatoes. Things were really then. And just when someone. If you look back, you were funn it out back then. You know, what strong hand really means. Nice. See what it's. And it's only going to get worse people. They're going to

be bigger people. They're going to be bigger threats than Elizabeth Warren. And you're going to feel more isolated as it gets bigger. You know, it all works out in the end. We left at the uncertainty that we had back then. And you'll laugh at Elizabeth Warren one day too. But if you hold your Bitcoin, you'll be laughing all the way to the bank in your Lamborghini

just to like a way with the bank. It is funny. I recall one of the things that we worried about then was the other side. B cash actually taking control of the bank. So Roger owned the Bitcoin.com exchange. And clearly he could just change it there. And I think he did. And we could even go to coin base. And at a time we were worried that

they might change Bitcoin to be cash, which is from a user perspective, a complete disaster. You go there, you buy Bitcoin, you think it's Bitcoin, you send it to your Bitcoin wallet. It errors out because it's be cash, which use the same address table as Bitcoin. So it would be a successful send. But then it would be the wrong stuff. So that was the thing that

I was going to do. It was scary. It was scary that they could take the brand name because as we all know, Bitcoin doesn't really have a copyright over the name or the graphics that she disappeared. There's no company there. So they had a very serious attack. They had a very good chance of taking over Bitcoin and reshaping it into what they wanted. But like Adam

said, they lost. They're gone. And now there's much bigger fish to fry. It's a good point to end the show on. So thanks to everybody for joining us. Please give us a thumbs up, give us a comment down below, push subscribe. And until next time. Bye. Bye.