0:00: Hey, Hey, Wealth Builders Simon Dixon here and welcome to Episode 62 of Bitcoin Hard talk And this week we're doing something very different.
0:12: So normally I would be going through everything that happened this week in Bitcoin, macro and geopolitics.
0:18: And believe me, there is plenty that happened this week in Bitcoin macro and geopolitics.
0:23: And so, But we're gonna come back to that next week because this week is a very special week.
0:30: , on Halloween yesterday in 2008, the Bitcoin white paper was launched to the Cypherpunk mailing list.
0:41: And since then we have been on a 16 year journey to slowly one day at a time, being able to create a resistance movement against the central banking cartel and give everybody the ability to own their own money independent of a bank transact no matter what the government says, whether you can transact or not, and thirdly, protect yourself from the proof of weapons inflationary network of the debt based Ponzi scheme called Fiat currency and every single four year cycle, we have smashed the shit out of every single asset that exists in the world, and Bitcoin gave so much freedom to so many people and it still continues to do today.
1:38: So we're gonna give it its own episode celebrating 16 years since the Bitcoin white paper was distributed by an anonymous group or person called Satoshi Nakamoto.
1:52: And what I'm gonna do is from an insider's perspective, I'm gonna share with you my journey through much of the trials and tribulations of building and being one of the small parts of the community that gave everybody the ability to own their own money, spend their own money and resist and beat the shit out of the Fiat currency debt based Ponti scheme.
2:18: So without further ado, let's jump right in to 16 years of history since the Bitcoin White paper was published.
2:27: Now what I would love to do is intertwine a little bit of my own personal story and my own journey around it as well, because I found Bitcoin.
2:36: I started writing on it in 2010, spoke at the first Bitcoin conference in Prague and released the first published book in the World to include Bitcoin invested in over 100 different companies in the sector.
2:49: But I didn't just find Bitcoin , my journey into being a part of the Bitcoin community, just like the technology behind Bitcoin was built over a 30 year period prior to Bitcoin launching.
3:03: My journey actually began 24 years ago.
3:05: Next next year it will be 25 years.
3:09: and it was in the year 2000 in the year 2000, I was 20 years old and my father, who, , was brought up in poverty, , before World War Two and during World War Two, in a little town called Bristol.
3:27: And, , he was the seventh son of the seventh son and, , lived in complete poverty on rations with bombs going off around him in Bristol as England got decimated as a result of the Rothschild family pushing the world into World War One by using the funds of the Bank of England in the GB p debt based Ponzi scheme that was being exported to shift the world power from the British Empire over to the American Empire.
4:00: And he went from beating that, , becoming a self made millionaire after being brought up for most of his life in poverty.
4:10: And, , from then lost it all in the year 2000 and in the year 2000, we had a boom and bust cycle of the stock market where the stock market was being pushed through low interest rates into an investment cycle where everyone was investing in everything that would disrupt through the Internet.
4:32: And then eventually the cycle crashed.
4:34: And at the end of it, we ended up with a lot of the innovation that we needed and to support Bitcoin.
4:40: But many people that didn't know how the financial markets worked ended up losing their entire lifetime savings.
4:48: And my father was one of those people.
4:50: He went from broke to self made millionaire to broke again, and in his distress and the trauma of losing absolutely everything he had worked for by gambling on the stock market in the boom and bust.
5:05: He asked me, son , where did my money go?
5:11: And ever since that question, it sparked off an interest.
5:16: And in fact, an obsession For the last 24 years of me trying to understand absolutely everything about the subject of money from the perspective of really trying to ask the question, Where did it go?
5:32: How did we get here and what created those wars in the first place?
5:37: And so my father was one of those people that lost his whole retirement and his pension by not understanding the flow of money and inspired me to really try and under the understand the subject, he sadly passed away in 2022.
5:53: But thanks to his question, it kicked off a journey for me.
5:58: And so my father is a Bitcoin o g.
6:02: And through me at his, , his his, , interest and understanding of what happened in money sparked off, , an obsession for me.
6:13: So right after my father asked me the question, I decided, Where do you learn about money from so immediately?
6:19: I did what the proof of weapons network tries to encourage you to do.
6:23: And that is to learn from this very same institutions that are justifying how the proof of weapons network works.
6:32: And so I studied economics, and then I did a masters in economics, and I was taught everything about Keynesian economics and why the government was justifying deep in debt and inflation.
6:46: I also learned about classical economics and the, you know, the quantity theory of money and the money multiplier and how the velocity of money is what caused it.
6:56: And inflation is purely a monetary concept.
7:00: And there was just a little bit of a side class that would teach you about so money, hard money and Austrian economics.
7:08: But the Austrian economics side really piqued my interest because most of the other side tried to justify why inflation needs to exist and why debt needs to exist.
7:20: And you could say it was sponsored by the Bretton Woods system of John Maynard Keynes that was created by the Federal Reserve that ignored all the history of what society used to look like before.
7:35: The Rothschild families funded both sides of all the wars and created central banking as a scam.
7:43: In order to get the government deeper and deeper and deeper into debt and shift world powers and remove the convertibility and check and control on debt away from gold by manipulating the price of markets in a slow multi decade transition from capitalist constitutional countries over to communism through Federal Reserve Bank of England, the Bank for International Settlements, the International Monetary Fund, the World Bank and controlling and taking over intelligence agencies like the CIA, Massad and MI-6 in order to make people think that they had democracies while behind the scenes, they cared.
8:33: Not who wrote the laws because they controlled the money and the money codified usury in order to ensure that the world got deep in debt and wealth.
8:44: Inequality would drive the assets into the hands of a few at the expense of the many as an industry of private banks creating money investment banks, creating financial products that would get the world governments and companies deeper into debt.
9:03: And the buy side that would end up centralising all of the world's shares from all of the world's pensions and all of the world's money laundering endowment funds into the by side of the city through BlackRock, Vanguard and State Street.
9:19: , that would end up taking the voting rights of everybody in order to control the financial system, to the point where a few have full control of our fully centralised financial system and confuse people into thinking that it is crisis after crisis that requires the bailout of these financial systems.
9:46: And the way that you change all the laws in your favour is to go deeper and deeper into war.
9:54: So after being taught and brainwashed in economics and a masters in economics, I did all my qualifications in order to be a good financial planner and help people understand how you need to have a stock portfolio, a bond portfolio, , and how different financial products would work in order to plan how to beat inflation in a world where inflation is built into the fundamentals of the debt based Ponzi scheme.
10:21: So after doing all that, I got myself a job to try and understand the market, and we're now at 2004.
10:29: I got my first job as a stockbroker in T D Waterhouse in London, , sorry in Manchester.
10:37: , I then worked for an investment bank as a market maker and learned how to manage a book of 200 stocks where we would create pump and dump schemes in order to manipulate people to buy stocks and sell stocks on an illiquid, , plus market.
10:51: It was called and, , the alternative investment market, the lower liquidity stocks, , and some of the FTSE 250 stocks on the London Stock Exchange and then decided to move over to my final, , corporate career, which was, and corporate finance and investment banking, , supporting venture capitalists in taking their portfolio companies public and, , making, , and working on the equity capital markets.
11:18: , but on the side, this obsession with Austrian economics and sound money did not fade away.
11:25: And so, after watching a bunch of documentaries and meeting people like Bill Steele, who created the Money Masters documentary, I decided that enough is enough and I threw in the corporate tow in 2006, 2 years before the Bitcoin white paper was launched and decided to go full time on monetary reform, where I would present in UK parliament.
11:49: I went to the monetary, , reform schools with, , Dennis Kucinich in Chicago in America and presented across 200 different universities and pretty much got laughed out of the room because I was trying to help people understand that banks and Fiat currencies are debt based Ponzi schemes and Austrian economics and hard money is the only sustainable way to run a monetary system.
12:17: , and so, , I was, , a a part of a community called the monetary reform community.
12:24: , in two from 2006.
12:26: And no, very few people would turn up to those presentations until in 2007, A little bank or, , the investment banks took over Iceland destroyed the economy that led to a subprime crisis in America That also led to, , Northern Rock, a bank in UK blowing up in 2007.
12:51: And more and more people would start to attend my presentations.
12:54: I uploaded a video on YouTube, , called the Great Depression of the 20 twenties from some of those early presentations, and got really frustrated that it required a financial crisis.
13:07: I then lobbied people like, Sir John Vickers that was in charge of writing the report when I realised that they were just deciding which financial institutions to collapse and sell to JP.
13:20: Morgan and the Federal Reserve was supporting its shareholders in issuing massive loans that created massive inflation and a quantitative easing programme that essentially used BlackRock's Aladdin algorithm in order to decide who to hand the financial system over and the taxpayers were gonna pay for it.
13:43: And they rolled over the system and created another debt based Ponzi scheme that rolled over in 2008 in order to support the Federal Reserve and its shareholders once again.
13:58: But this time in 2008, , I decided that I was so fed up of speaking to politicians, , that, , my wife actually said we should create a non fractional reserve bank so that we can demonstrate to politicians and we can demonstrate how a sustainable financial system worked.
14:18: And at the same time, in 2008, Satoshi Nakamoto sent out an email to the cypherpunk mailing list on a white paper that shared how to create a peer to peer electronic cash system that didn't require a bank could send transactions without a government and was designed in a way where the monetary policy would never change in a fixed supply of 21 million Bitcoins , slowly being released every 10 minutes to a network of miners that wanted to, , perform the role of central bank in a codified way that required no trust.
14:57: And release those Bitcoins to those miners with a node network that would verify all of those transactions allowing it to operate without a central bank without the need to custody with a bank and without the need to, , have an intermediary that could interfere in those transactions.
15:17: And Satoshi Nakamoto released the Bitcoin White paper in October 2008 on Halloween, the 31st of October, exactly six years ago today, , it was around about September 2008 that I was actually coming back from my honeymoon in Egypt, and this was before the, , the Arab Springs, in which there was an uprising in order to, , uprise against the kingdoms and the monarchs that had been installed by the French British Empire in order to exert the Petro dollar and maintain the status quo through American proxy governments to make sure that the Middle East was always in a state of war.
16:03: , so that America and the British proof of weapons network could prop up the demand for their currency through schemes like the petro dollar, , that required all of the oil money to prop up the demand for dollar and make sure that there was a constant , you know, investment into the American economy and lend to the US government that would then create wars.
16:27: And then those wars would topple regions.
16:29: And then they needed Treasuries in order to stabilise.
16:32: And the International Monetary Fund would get all of those, , countries deeper and deeper into debt so that they could control their dollar reserves, ensure that they printed money to inflate their currencies in order to make sure all of the world's investment went into lending to the US government.
16:50: That would in turn, build the largest military industrial complex that would be weaponized by any country that dared to try and enter into a different central banking system other than the Rothschild controlled Bank for international settlements and anyone that tried to go exert outside that system would end up having their co their government toppled, , and that would be replaced with a bank for international settlement, debt based Ponzi scheme and IMF debt in order to rebuild their economy by exporting global terrorism around the world and creating all these resistance movements against it.
17:30: Well, in 2008, as I was coming back from Egypt on the plane back, there was news.
17:36: I remember opening up my phone at the time to see that Lehman Brothers had entered into Chapter 11 and it was set to crash while BlackRock was deciding who Federal Reserve would issue loans to in order to hand over the financial system and roll it over into JP.
17:58: Morgan and various others that were the shareholders of the Federal Reserve in order to consolidate the financial system smaller and smaller and smaller, much like what happened in 1907, that led to the creation of the Federal Reserve and all of the debt and all of the wars that was created after that So this white paper came out and a group of people decided that they would start supporting the coding of it and would become miners as well.
18:27: , you know, people like Hal Finney that sadly passed away.
18:31: , and I believe that the creators of Bitcoin, , no longer have access to the keys that were mined.
18:37: , but in 2009, in January 2009, the Genesis block was mined, which meant that they bootstrapped this network.
18:46: Satoshi Nakamoto started mining, and there was no price for Bitcoin.
18:51: It was just simply a way of sending these Bitcoins and values around the world.
18:57: And, , Satoshi Nakamoto would fire up a laptop with C P U computer power.
19:02: And every 10 minutes, 50 Bitcoins were rewarded to anybody that wanted to mine.
19:07: More and more miners would mine over the time, but the very first block is known as the Genesis block, and it was mined on the Jan on January the third of 2009, 15 years ago, Le, , less than over 15 years ago, And within that block, if you want to doubt what the Bitcoin Blockchain was about, it contained a reference in there to, , a UK banking bailout.
19:36: , that, , was a headline from the Times newspaper.
19:40: Ironically, if you go back to that Times newspaper because it was trying to show that it was cementing the date that it was born into the Bitcoin Blockchain by being mined into a block.
19:51: , and it was demonstrating that the banks, , were on the brink of a disaster as a result of a prime minister called Boris.
20:02: No, it wasn't Boris Johnson.
20:03: It was Gordon Brown who was selling off the, , the gold supply of England, , in order to pump the Fiat currency Ponzi scheme even further and leaving the, , UK government with no way to protect itself from the GB p debt based Ponzi scheme.
20:23: And this marked the beginning of the Bitcoin Blockchain , the Times newspaper on the third of January 2009, if you look it up, it said the headline was Chancellor on the brink of second bailout for banks.
20:38: And interestingly, it had an article where the Israeli defence force the ID f were invading Gaza and killing Palestinians.
20:48: , in order to protect the Rothschild family that created Israel in the first place when they, , managed to, , create, , the Balfour Declaration by bankrupt in the UK government through excessive Bank of England debt which pushed the UK government into World War One and in exchange for bringing America into World War One, a deal was set called the Balfour Declaration, that gave the Rothschild, their own jurisdiction in order to create a racketeering organisation and shell company.
21:24: For much of those crimes and the proof of weapons network transferred from 1917 to 1948 that jurisdiction over and Palestine was declared to Israel in exchange for bringing America into World War Two.
21:41: And that led to the world wars, the cold wars and all of the wars that got America $36 trillion into debt today for the US D proof of weapons network that eventually will likely be replaced by a central bank digital currency for the world using the Bank for international settlements.
22:04: , and many of the wars that we are being driven to into world war three today with all the deceit in order to make people think that these wars are about something else other than the debt based Ponzi scheme called the dollar.
22:19: Anyway, So in 2010, , the first Bitcoin purchase happened, , and, , there was a market where there was, , you know, on an exchange that, , traded Bitcoins with each other for less than a dollar.
22:33: I think it was 0.0.
22:34: I think it was about eight cents if I remember correctly The first price for Bitcoin.
22:39: But the first purchase and transactions happened in 2010.
22:44: And this real world Bitcoin purchase occurred because, , there was somebody on the Bitcoin talk forum, which is where we all used to talk, , about Bitcoin.
22:54: and the name was, , llo.
22:57: , Hayek is, , but basically he persuaded somebody to buy two pizzas, , at, , at, , Papa John's.
23:08: And he would send over those 10,000 Bitcoin if he would make a purchase of those Bitcoins on the card.
23:16: And this is where we celebrate every year.
23:19: Bitcoin Pizza Day.
23:20: Ever since because of this first transaction, 10,000 Bitcoin, was sent, and that happened in May.
23:27: , may the 22nd, 2010 leading to Bitcoin Pizza Day that we celebrate every single year.
23:35: Because today those pizzas are approximately worth, I think 700,000 Bitcoin.
23:43: So 350 million.
23:46: Sorry.
23:46: 350 million Bitcoin e Sorry.
23:49: $350 million each.
23:52: 10,000 Bitcoin.
23:54: And, , today the price is approximately 70,000.
23:58: So that's $700 million pizzas.
24:02: , at this time, , the vision for trying to create a non fractional reserve bank.
24:09: I started at the same time in 2009 before the Bitcoin pizza transactions.
24:15: , the company we incorporated bank to the future applied with the Bank of England to try and give everybody a bank where people could earn their own money without being fractionally reserved.
24:26: So it wasn't a debt based Ponzi scheme.
24:28: Hold their funds in custody, allow them to decide where their funds go through through, , a social banking mechanism.
24:36: We called it at the time, , and try and create an exit from fractional reserve banking through non fractional reserve banking.
24:44: We applied with the Bank of England and the Bank of England told us You have to.
24:49: Firstly, you're not allowed a checking account.
24:52: You have to deposit $60 million at the Bank of England.
24:56: But you have to build the technology on top of a clearing bank like Barclays and they will hold your money and then they can fractionally reserve it and then they can hold the reserves at the Bank of England.
25:09: And you can't have a system where people get to direct the flow.
25:13: You have to play the GB p Ponzi scheme.
25:17: And so there was no way within the Fiat currency system after applying for a banking licence to be able to do it.
25:24: But we tried.
25:25: We spent all of our savings and in fact, I got about $250,000 deep in debt, trying to create a non fractional reserve bank at the time.
25:36: , in fact, all of my savings from investment banking we funded the whole thing for the monetary reform movement.
25:43: , and, , at that time, we were deep in debt into the proof of weapons network and the GB p debt based Ponzi scheme with no real sign of how to escape that as well, and the non fractional Reserve Bank that we'd invested all of our savings into to try and show the world that there was a way of exit in the banking system.
26:05: We were being told by the Bank of England that there is actually no way of doing it, so I was deep in debt.
26:13: and I was writing my book bank to the future.
26:15: Protect your future before governments go bust.
26:18: And we decided that we needed to pivot the business.
26:22: , and looking for a new use case.
26:25: , we decided to, my my wife and myself decided to take our last bit of credit card debt.
26:32: Get on a plane to Prague.
26:35: , because a gentleman called Johnny Bitcoin had told me that he'd moved out of his house and sold his house to move into a squat on old street with a group of people that were working on Bitcoin core code.
26:47: And he sold everything to buy Bitcoin and moved into the squat, which can only be described as a crack den in order to, , work with a group of people, , that were, , building on, , Bitcoin code and supporting Bitcoin code as well in that squat in Old Street.
27:06: And the guy that was organising that lived there was a guy called Amir Tai, and Amir Tai was organising a conference in Prague, and, , he invited me to, , speak.
27:16: So I spoke at the first Bitcoin conference in Prague and purchased my first Bitcoin for $3 when there were approximately 50 to 100 people.
27:26: Max in the room.
27:28: , Max Kaiser was there.
27:29: Got to meet him for the first time.
27:31: And in November 2011, wanted to share my vision for bank to the future and launch the book bank to the future.
27:40: Protect your future before governments go bust because it became the first published book in the world to include Bitcoin where I went through in a chapter Much of the innovation and I went through every way that you could transact with each other without the need for a bank.
27:56: And so in 2011, , Bitcoin basically reached parity with the US dollar.
28:05: There was a big celebration.
28:06: Bitcoin hit $1 and the big celebration at the time.
28:10: I can't tell you how many people sold their Bitcoin because they were like, Wow, Bitcoin has hit $1.01 Bitcoin is worth $1.
28:20: We are at parity with the US dollar.
28:25: And so that was a big celebration in 2011 when that happened.
28:31: , so I wrote the book and started, , covering the different ways that, , Bitcoin could be used in different ways that you could exit.
28:38: , the financial system, , and, went to the Prague conference and launched bank to the future.
28:45: Now, one of the stories that I shared was a big story that happened in 2011, and that was the financial blockade of Wikileaks.
28:55: So Julian Assange had created Wikileaks as a way of exposing the atrocities of the proof of weapons network.
29:03: And he released a bunch of stuff around all of the, you know, the million people that were killed and the civilians that were killed during the Iraqi war, , revealed that Al Qaeda and Isis were actually CIA and Mossad operations, , released all of the different things that were hidden view by the fact that the Federal Reserve, through its network of the CIA, MI-5 and, , the Mossad and Israel were able to actually hide all of the atrocities and make you know all of the things that were leading to an understanding that Mossad was involved in 911.
29:42: , and all the things that we were able to expose by having an independent media that wasn't controlled for propaganda purposes of justifying all these wars and distracting people with Democrat versus Republican and labour versus conservative and exposing how the world actually works.
30:01: Because of that, there was a massive financial blockade.
30:04: In order to shut Wikileaks down, Visa stopped supporting, , funding to, , Wikileaks.
30:11: Then MasterCard did the same.
30:13: Then PayPal did the same.
30:15: Then Bank of America did the same.
30:17: Then all of the shareholders of the Federal Reserve did the same.
30:20: And there was a pure blockade where even if you sent any money to wikileaks from your bank account, if that was connected the sender to somebody that sent their money to Wikileaks , they would shut your bank account down and seize all of the even though this is completely legal to create the ability for people to share information anonymously in order to execute whistleblowing policies on the government, on the banks and on the central banks.
30:48: Wikileaks.
30:49: It was too late, exposed it all, but it ran out of money and had to shut the website down.
30:54: And so Satoshi Nakamoto freaked out because Julian Assange came on the Bitcoin Talk forum and started asking, How can Bitcoin work?
31:03: And Satoshi Nakamoto said, We're not ready, , for such exposure.
31:08: And one of the core developers that had received the github repo of the Bitcoin code in order to release new fixes to the code, Gavin Andresen said he's going to meet the CIA to explain how Bitcoin worked.
31:21: And at this point, we didn't hear from Satoshi Nakamoto on a regular basis.
31:26: He left the project.
31:28: He left it open.
31:29: Source.
31:29: He left it where anyone could submit a Bitcoin improvement proposal, and he left it in an environment where we could bottom up, build it with no connection to Satoshi Nakamoto, which eventually meant that it had its commodity like features that made it survive through every boom bust.
31:48: Regulatory crackdown.
31:50: And Essen, , essentially made it where there was no door.
31:53: You could knock on no connection to a character and allowed Bitcoin to become a commodity and achieve its vision by leaving the project.
32:03: but Bitcoin saved Wikileaks at that time, , Wikileaks was allowed to transact in Bitcoin.
32:09: , the Bitcoin community sent a bunch of Bitcoin over to wikileaks to allow it to continue its work so it could hold our government to account.
32:17: , and the price of Bitcoin went through the roof.
32:21: And by allowing people to have peer to peer media powered, , by peer to peer currency B , wikileaks was allowed to expose the government and keep the government accountable for all the crimes and terrorism it was committing.
32:36: , and still does to this day, they obviously came after him.
32:40: They tried to put a rape claim on him.
32:43: The intelligence agency had Mike Pompeo, who's a conduit of Trump.
32:48: , try and, , work for, you know, exposing all the push back against him.
32:54: , for all the Mossad operations he was exposing and all the CIA operations that were being exposed by just allowing people to have this that even included in the 2016 Trump campaign.
33:05: Remember the all of the Hillary Clinton emails that exposed that Al Qaeda was controlled by the CIA and it was a fake network to create the fake war on terror for Netanyahu in order for Israel to try and make out that all these terrorist organisations that they were supporting, were the Muslims.
33:25: And then you had these Mossad operations, like 911 that used Al Qaeda in order to justify the war with Iraq and all the things that we learned with all the evidence and the the Hillary Clinton leaked emails that revealed that that few people actually bother to read.
33:42: , if you do that anyway but anyway.
33:45: at the same time, a guy called Ross Ulbricht is an anonymous person that was known as the Jed Pirate Robert, , the, , , created silk roads that allow people to engage in peer to peer transactions.
33:59: Now, later.
34:00: That led to a lot of Haram activity where people were buying drugs online and all sorts of stuff.
34:05: But there was peer to peer currency with peer to peer media and peer to peer Tran, , trade.
34:12: , and, , those were the foundation and the roots of much of the Bitcoin volume.
34:18: , that came Now, this is where it got a very, very bad reputation.
34:22: , because the Media Network wanted to say that we must that we need to try and shut Bitcoin down.
34:30: But they didn't understand that the mining network went from C P US on laptops to GPO S on graphic cards.
34:37: And then later, around about 2013, we had this big industry in China with companies like Bit Main, that ended up building application specific integrated circuits as six that allowed institutional mining of Bitcoin where you didn't have to do it on your laptop anymore or graphics card and the security behind Bitcoin got bigger and bigger and bigger, and it started being distributed by more and more people that were mining Bitcoin in order to receive the Bitcoin as it got, the value of Bitcoin grew and grew and grew as it went through the four year cycle where the supply of Bitcoin that were being released halved every four years, as was Emmons demonstrated in the original Bitcoin white paper.
35:20: But now we're on 2012 and in 2012 we had the very first Bitcoin halving.
35:27: And so the release network in the white paper, it explained, the monetary policy of Bitcoin and the monetary policy of Bitcoin has never changed like clockwork because nodes are all verifying transactions as hundreds of thousands of them today.
35:42: , records of all the Blockchain is kept in mind, , by a distributed network of computers that became the largest distributed supercomputer in the world that there was no incentive in order to, , be able to allow governments to shut the network down.
35:59: And like clockwork, we had the first Bitcoin halving in 2012 and the price as Bitcoin became more and more scarce, , led to an increase in the price.
36:10: And we started to, , have our first exchanges, and it worked.
36:14: And we've had a Bitcoin halving every four years ever since.
36:19: And so we had our first Bitcoin halving in November 2012, , where we reduced the block from 50 Bitcoin per every 10 minutes as a reward for miners to 25 Bitcoin every 10 minutes as a reward for miners and millions more Bitcoin were mined and distributed to all of those that were mining it.
36:39: And then it was distributed to other people because miners needed to sell their Bitcoin to pay for the electricity.
36:46: And then through the exchanges, it was distributed to people that wanted to buy Bitcoin on the secondary market without having to mine them.
36:54: And, , many, many more Bitcoins were distributed accordingly.
36:58: But unfortunately, some people left those Bitcoins on an exchange because they didn't learn the lesson of self custody cos it was so difficult at the time.
37:09: You know, I had to buy, like, casseus physical Bitcoins in order to store Bitcoins or figure out paper wallets and all sorts of craziness.
37:17: , it's so much easier today to store your Bitcoin.
37:20: , but that's what we had to go through in the early days.
37:24: Now we hit 2012 at this time.
37:27: , this is when bank to the future.
37:29: The company I co founded was rejected by the Bank of England in order to create a non fractional reserve bank.
37:36: So what we decided to do?
37:39: was pivot to a securities business.
37:41: Now we found that there were companies like someone else that presented at the first Bitcoin.
37:46: I got to meet Tony Glipi, who created a company called Bitpay.
37:49: But none of the venture capitalists was interested in investing in our industry.
37:54: But we were creating all this different technology.
37:56: We had Bitcoin bonds and all sorts of stuff Bitcoin, IP, OS and stuff.
38:01: But we wanted to do it in compliance with securities laws.
38:04: So bank to the future applied with the UK regulator.
38:07: It was called the F S A at the time, , now the f c A and we actually created equity crowdfunding rules that led to what later America adopted as the Jobs Act that allowed, , everyday people to invest in shares in pub in in, , private companies using these equity crowdfunding laws.
38:28: We got the first, , securities, , business that was able to fund some of the Bitcoin companies.
38:35: and so we pivoted to securities because Bitcoin was creating non fractional reserve banking.
38:44: And so we just decided to support the Bitcoin companies because no one was funding them and create a compliant way where essentially people could pull together their money and invest in Bitcoin companies that couldn't secure funding so that we could build our industry and support Bitcoin adoption all around the world.
39:03: One of the first applications that was launched was Satoshi dice by a guy called Eric Voorhees.
39:09: , he spoke at the first or he was at the first Bitcoin conference, , with others as well.
39:14: And he wanted to create a way of, , putting, , Bitcoin transactions on the Blockchain so that people could play poker and various other things, , on the Blockchain and proved that it was provably fair.
39:26: This created a lot of transactions on the Bitcoin Blockchain.
39:30: It started to clog it up, and we started to have our first debate around what happens when transaction fees go up?
39:37: Cos many of the companies at the time were allowing people to transact through their companies and they were just covering the fees cos the fees were so cheap.
39:45: But as Satoshi dice launched, , we ended up with, , higher transaction fees, and we all started debating how to scale Bitcoin, and we started to learn that there was a trade off and that trade off was that if you allow more blocks to be contained in each of those 10 minute blocks that enter into a new block on the chain, , you would actually make it more expensive for nodes to run and therefore less nodes would be able to run, which would make the network more decentralised.
40:18: And then we decided that the right path forward to SA was to have a free market, , and to optimise the code in order to ensure that, , we, , you know, were able to put more transactions in those blocks but without compromising decentralisation.
40:35: And that really led the debate of what does the Bitcoin community care about most?
40:40: It was a massive open source debate online through forums through conferences, through everything around how to scale Bitcoin, , and, , the need for transaction fees, what size the block should be and how to actually get changes in the Bitcoin code in order to have miners that were do were involved in that and users that were involved in that and various other things but at the time cos it was so difficult technically to own Bitcoin in 2013, a guy called J Jeb Mile sold an exchange that was created for, , magic The gathering online, , cards, , that, And, , Jeb MIB actually sold this exchange called Mount Gox to a guy called Mark Capelli and Mark Capelli and various other people were members of the Bitcoin Foundation that was trying to support the growth of Bitcoin.
41:34: and, , that exchange when it was sold to Mark Capella, it had 80,000 Bitcoins missing that was not disclosed to Mark Capella and the technology was a disaster cos it was made for trading card exchanges And as the price of Bitcoin went up, more and more people wanted to buy Bitcoin as the use case of Satoshi dice Silk Road and all of the wikileaks and various other applications grew.
41:59: The demand for Bitcoin went up.
42:01: And the only way to buy it was through, , many of the early companies, , like bitty instance that allowed you to get money onto, , Mount Gox faster.
42:12: And then Mount Gox was the exchange and Mount gox was rubbish buggy code that kept getting, , going down.
42:19: , but almost 70% of the tradable Bitcoins ended up on Mount Gox in 2013.
42:25: , and it created a massive pump in the price.
42:28: It even created bots in order to try and make back the money.
42:32: That was Willie Bot at the time.
42:34: , cos it was missing so many Bitcoin, and then it was losing more and more Bitcoin and, , it was creating basically the first fractional reserve Bitcoin bank that eventually ended up losing 850,000 client Bitcoin , when it collapsed in 2014.
42:54: But Mount Gox gave us the price, and it was the price that allowed us to, , create all these different transactions.
43:01: , but it was based upon missing Bitcoin and the lesson was learned again that the centralised company are more like banks where they could have a paper version of Bitcoin promised to repay you, but if they lost the Bitcoin, they couldn't repay you as well.
43:18: but we had our first Bitcoin exchanges.
43:21: There were many more as well.
43:22: , but Mount Gox was the big gorilla in the room.
43:26: , it faces many, many issues, , security breaches and never disclosed those as well.
43:32: , in fact, it only even paid out.
43:35: People are still being paid out 10 years later.
43:38: And because they managed to find Mark Capellas found about 200,000 Bitcoin under his mattress.
43:44: , those Bitcoin were kept in Bitcoin and the dollar price meant that they had a 10 year hole.
43:49: , and in dollar terms, it became it became out of bankruptcy, hit a multibillion dollar valuation as billions and billions of dollars of those Bitcoin value were locked up in the bankruptcy.
44:02: That thankfully, now, even though, , 90% of the Bitcoin was missing led to those creditors receiving some of their Bitcoin back.
44:10: That was worth a lot more anyway.
44:14: , in this year, in 2013, we secured our securities licence in the UK at bank to the future and became the first regulated, , Bitcoin securities business.
44:25: , and, , the first product that we launched was the first Bitcoin bond.
44:30: , and the Bitcoin bond was backed by mining and a mining operation that we run in Iceland.
44:36: , I presented at a Bitcoin conference in Iceland.
44:40: , and, , because they were arresting investment bankers, you know, and Iceland was the precursor to the 2008 global financial crisis when the investment bankers, , created more debt than, , you know, , you know, many times more debt than the entire economy.
44:58: , they were very receptive to Bitcoin at the time.
45:02: And, , at the conference in Iceland, there were government officials, , and started, , they started creating hosting agreements for anyone that wanted to take their application specific integrated circuit ASIC that were made in China and had chips from Taiwan and, , send them over to Iceland, which had geothermal cooling and very cheap electricity because it was repurposing electricity powered by volcanoes that gave us a competitive edge and we raised finance through bank to the future for those that wanted to put a Bitcoin bond in their retirement.
45:39: , plan.
45:40: And we started paying out daily dividends in Bitcoin backed by Bitcoin mining backed by, , volcano power.
45:48: and, , we launched that first Bitcoin mine, and we paid out thousands of Bitcoin to all of our investors on in bank to the future.
45:57: , and we made many, many of them wealthy because they kept their Bitcoin on bank to the future.
46:02: And some of them still have it on bank to the future to this day, , which led to a massive amount of wealth as Bitcoin grew, , but the electricity in Iceland became bigger than the you know, it's so big that it started, , eating into the electricity to supply that the local people needed.
46:24: And eventually, as more and more people started mining Bitcoin it becomes more and more competitive.
46:30: And eventually, , we shut down that mining operation but paid out all the Bitcoin to our investors , and decided to support the, , Icelandic government.
46:41: And to this day, they still host massive amount of Bitcoin miners.
46:45: , but they have, , you know, lots and lots of innovation that was built from that as a result, , and round about this time in 2013, I was then invited by the mayor of London, Boris Johnson, , because of bank to the future was supporting some of the UK Bitcoin companies.
47:04: , we was in invited to come and present on, , Bitcoin and I gave Boris Johnson a Bitcoin strategy.
47:13: , but he laughed me out of the room.
47:15: He rejected it.
47:17: It was around using Bitcoin as a strategic reserve assets, , for the UK government and attracting all of the U the Bitcoin companies that couldn't get bank accounts over to the UK.
47:30: , and supporting, , Bitcoin and being, , making the UK a hub for disrupting banking and giving alternatives.
47:39: , as a result of the Vickers report and various other things, , Boris Johnson laughed me out of the room.
47:46: And then after that meeting, we actually lost our licence.
47:49: When the f c A and Boris Johnson weaponized, , the regulator in order to say you're not supporting these Bitcoin companies.
47:59: And so we had to leave the UK, , because they didn't wanna support Bitcoin.
48:05: And I learned how the Bank of England, the government and the regulators all have this cushty relationship to support the shareholders of the proof of weapons network in order to keep the debt based Ponzi scheme going.
48:20: And I learned that no one wants non fractional reserve banking because that's a big threat to fractional reserve banking, even though it supports consumers.
48:29: Nobody wants hard money because they don't want people to get wealthy.
48:33: They want them to get in debt.
48:34: And nobody wanted to support Bitcoin companies because they might actually create the very same companies that would support consumers in beating inflation.
48:44: So I had to be done with the UK.
48:47: And so I gave the UK one more go and, , in 2014, , Mount Gox collapsed.
48:54: It went into the bankruptcy.
48:55: It filed for bankruptcy.
48:57: , and this was our industry collapsed.
49:00: Willy bots, , that pushed the price of Bitcoin over $1000 crashed to the price of Bitcoin down to approximately $200.
49:10: , at this time decided that, , because the UK wasn't supporting it, , we would at bank to the future create the first Bitcoin venture capital fund, and we would allow investors outside the UK to invest in something we call Bitcoin capital.
49:29: We did three rounds of it, and rather than going to Silicon Valley that didn't want to support our industry.
49:35: And rather than going to Wall Street, that certainly didn't want to support our industry.
49:40: We would allow people to pool using those equity crowdfunding laws that we got implemented in the UK.
49:46: , in order to pool together their money to invest in companies and we created the first, , venture capital fund, Bitcoin capital at bank to the future.
49:56: A third of it invested in mining and paid daily dividends to bit, , to investors in Bitcoin.
50:02: , and the rest of it would invest in companies and Bitcoin as well.
50:07: , And, , it invested in companies like Kraken Bits, stamp bit fin circle Blockchain dot com Many, many others as well.
50:16: , And, , it was co-founded with Max Geyer who I, , met at the first Bitcoin conference.
50:22: We later parted company.
50:25: , but, , it was still, , supporting the industry.
50:29: , when later the venture capitalists all came in as well.
50:34: but in 2014, I decided I got a message, , from the Isle of Man government in 2014 that they wanted to see if they could do for the island in the Isle of Man what they did for the gaming industry, where they would create a regulatory environment and allow banks to support the industry in a regulated environment like they did for gaming.
50:56: And when the FBI, through Operation Choke 0.1 0.0 tried to shut down all of the gaming companies, the Isle of Man government stood up against the DOJ and the FBI and allowed the industry to prevail.
51:10: , now, I'm not a gaming person myself.
51:13: , but they wanted to do the same for Bitcoin companies and support them.
51:18: And so the Isle of Man government invited me to come and speak at the Crypto Valley summit They called and after that, I had several meetings with the government to make Bitcoin legal tender, and they announced it at the conference that they were accepting taxes in Bitcoin and they wanted all the Bitcoin companies to come over to the Isle of Man and, , they started to progress and support the industry until it came to those companies securing a bank account Operation Choke 0.1 0.0 was used for all of these companies to ensure that the Federal Reserve and the Bank of England weaponized their power under the geyser of protecting consumers through the S E C, the F C A and the F S E in Isle of Man at that time to make sure that none of these companies could get bank accounts as well.
52:09: And the Bank of England contacted the Isle of Man government and said, If you support this Bitcoin industry, we will weaponize the pound and we will remove clearing to all of your banks and not allow you to have a banking system in the Isle of Man Boom, That was the last one.
52:30: And so Bitcoin as legal tender wasn't gonna happen.
52:33: And so I gave up on supporting governments.
52:36: I gave up on trying to get monetary reform through and just went full blown, focused on building the system from the bottom up, supporting Bitcoin companies and, , creating all the innovation that we needed, , using Bitcoin and, , just left the, the UK at that time.
52:57: So in 2014, 1 of the things that was being built was the ability to tokenize on top of Bitcoin and a network was launched called Omni and Omni launched a token that was creating a digital dollar on top of Bitcoin that was called US d T.
53:14: So tether was launched in 2014 and this started creating the, , the demand.
53:19: Now the transaction fees would go up because it was very expensive to do it.
53:22: It needed changes to the code at this time.
53:25: Vitali, who worked for Bitcoin magazine was a journalist at the time for Tet butter in and later, , tapped into the Bitcoin community to raise funds for Ethereum to create a new Blockchain, I invested in the ethereum IC o using some of my Bitcoin.
53:40: At the time you could have 2000 e for one.
53:43: Bitcoin and the Bitcoin community are bootstrapped, , and invested some of them in the Ethereum network which took it on that separate path.
53:53: And essentially Ethereum did a lot of stuff.
53:56: that would optimise for that use case.
53:59: But now we're around about 2015 and in 2015, the scaling issue became bigger and bigger and more prevalent in people's minds.
54:08: More and more people wanted to build on top of Bitcoin tether created lots of transactions.
54:13: , and people wanted to send stablecoins and digital dollars.
54:17: , and later bit fin x ended up acquiring, , you know, , tether through their group of companies as well, in order to allow people to arbitrage between exchanges so that when you needed to get dollars over to an exchange like Kraken, for example, from an exchange like bit fin X, , you could then just send tether across.
54:36: It would be backed by dollars.
54:38: It would invest in Treasuries, and then those excess reserves, as the Treasuries would pay.
54:43: A coupon could be invested in Bitcoin and Bitcoin mining and support the growth of the industry.
54:49: And it took ages.
54:50: No one was interested at the time.
54:52: For years, there was only like, you know, $5 million a market cap.
54:56: , but eventually the use case prevailed and the stable coin industry grew and grew and grew into a multibillion dollar industry But in 2015, we started having these different versions of Bitcoin.
55:09: So developers like Mike KN will come along and say, , we need to increase the block size and you had Bitcoin classic and Bitcoin X B and different implementations that would be bootstrapped in order to look at different scalability solutions.
55:23: It became apparent that it was very, very hard to fork Bitcoin.
55:28: And if you did fork Bitcoin because it's open source code, it would lead to the creation of a new coin.
55:34: And the creation of that new coin wouldn't be Bitcoin.
55:37: But in 2015, we had the big, , Bitcoin block war debate.
55:43: , and essentially, , this started to hit Peak.
55:47: , I was at a few conference like the Hong Kong agreement where people were saying, Well, we'll implement something called segregate Witness that would put the the signatures outside of the block, which would essentially increase.
56:00: I don't wanna get too geeky, but it was agreed that that would be the solution.
56:03: And then maybe they could explore getting consensus on a block side increase.
56:07: But we had this massive debate around, , the block size.
56:13: And really, I would say this is when it was formed, that it was impossible to reach consensus on Bitcoin unless the changes were really, really needed.
56:23: And this laid the foundation for Bitcoin distinguishing itself from all the shit coins and everything else that was around it that would essentially change.
56:31: And then you couldn't rely upon it and it was connected to a person.
56:35: But this really laid the foundation for Bitcoin's commodity like status.
56:39: And even when very influential people like Jihan Wu that was the founder of Bit Main that was creating most of the ASIC and Roger there, , that was investing in many of the different, , Bitcoin companies that we invested in through bank to the future as well.
56:55: And, , someone like Craig Wright would come out and say, I am Satoshi.
57:00: , suddenly, even when they all got together and one of the largest v CS in the industry like Barry Silbert would lobby all the companies like Coinbase and Kraken and everybody and try and co opt them into increasing the block size in order to keep the fees low because their businesses relied upon it.
57:18: , we had this massive demonstration that nobody controlled Bitcoin.
57:22: Even all the miners in China came to the Hong Kong conference and it even though it however large the force was they just couldn't control Bitcoin.
57:33: And even when we had threats that they were gonna fork off and create their other , Bitcoin And we had this massive attack, , where it looked like Bitcoin cash.
57:43: This other alternative was beating the price of Bitcoin through manipulation on the bit thumb exchange through money in South Korea.
57:51: , as more and more South Koreans started to enter the market, we just demonstrated that there is only one Bitcoin there is only 21 million Bitcoin and Bitcoin is a unique freak thing that nobody can replicate.
58:06: And you can go and fork it off and create Bitcoin cash or Bitcoin s V.
58:10: But you get crucified.
58:12: And it was more and more centralised and there was only one Bitcoin So with that, , you know, Bitcoin capital and bank to the future, , funded many of the companies and started supporting global adoption of Bitcoin.
58:27: So, , some of our early investments and I invested through bank to the future like everybody else.
58:32: We invested in Kraken.
58:33: We invested in Coinbase.
58:34: We invested in circle that created US DC.
58:37: Eventually we created bits stamp that became the first regulated exchange in, in, , , Europe that was later acquired by Robin Hood.
58:48: We invested in Robinhood bit finna Blockchain dot com , Exodus, which created a wallet, bit pays that was driving Bitcoin adoption across the various regions in Africa Bits.
59:00: So that was supporting Bitcoin adoption in Mexico ATM that was supporting Bitcoin adoption in Venezuela and Argentina Branch that was supporting adoption across Indonesia.
59:11: Bit Mari That was a sporting Bitcoin adoption across Zimbabwe and many, many others.
59:17: , that we were able to support, through bank to the future and really bootstrap and build this industry as it became bigger and bigger and bigger and bigger.
59:28: And at this time, , I was presenting at a conference in Australia, which was run by the banks, and I spoke at a conference in New York that was run by American bankers.
59:42: And this is when the next attack vector happened in Bitcoin when they tried to say that Bitcoin's not important.
59:50: It's all about the Blockchain.
59:52: And so everyone was perpetuating that Bitcoin is a rubbish Bitcoin Ponzi scheme.
59:59: But the technology behind Bitcoin is amazing, and, , they started.
1:00:03: The bank started to take some of the Bitcoin developers like Mike Hearn and create their own Blockchain called r three and try to make it where Blockchain was The new word and Bitcoin was useless.
1:00:17: They lost, , but at this time, the attack vectors were so hard I decided I had to move over to Hong Kong.
1:00:24: We had to reincorporate bank to the future to being regulated in different jurisdictions.
1:00:30: , and an investment bank called Jeffreys came to me and said, We're supporting Blythe Masters, who was the creator of the credit default swap that blew up in 2008 from JP.
1:00:42: Morgan.
1:00:43: , we're supporting her in sharing how Blockchain is the innovation and asked me if I'd be willing to present to most of the fund managers in the world, in order to share how Bitcoin was the innovation.
1:00:57: So I agreed to do it, and Blythe Masters was presenting at all these different financial hubs and institutions around the world how Blockchain was the future and Bitcoin was rubbish.
1:01:08: And I was presenting how you need Bitcoin for Blockchain and the only Blockchain that really matters is the Bitcoin Blockchain and Bitcoin is a resistance movement against Central Banking.
1:01:21: , and so I presented many, many fund managers that were managing much of the wealth around the world.
1:01:28: , I presented in Tokyo, in Singapore, in London, in Hong Kong, in Boston, in New York, in San Francisco.
1:01:36: , and, , started making sure.
1:01:38: Now what happened at that time after that is that many of these fund managers were like, Holy crap, I like Bitcoin.
1:01:45: I'm gonna buy buy it for myself.
1:01:47: But they couldn't put it in the fund.
1:01:49: , because there was no regulated way to hold it in a custody mechanism that was compliant with their, , governance structure at these financial institutions.
1:02:00: So they started to buy it, but their fund couldn't buy it.
1:02:04: , And, , then you know, the the institutional side of the industry, , started to get into Bitcoin on a small part, but most of them were dabbling around in Blockchain so round about this time it hit 20 sec 2016.
1:02:21: And in 2016, we had our second halving.
1:02:25: And so we went through our first halving in 2012.
1:02:27: And now in 2016 like clockwork, as per the code as per the design of the Bitcoin white paper, , the second halving reduced the block size, , from 25 Bitcoins every 10 minutes to miners to 2.5 Bitcoin Sorry.
1:02:44: 12.5 Bitcoin, , for those miners.
1:02:47: Now what happens?
1:02:48: The Bitcoin price reacts to the supply and demand economics and more and more of the hard money.
1:02:55: Austrian economics, really were showing that Bitcoin was creating this bottom up movement that was really eating away at Fiat currency in a small and smaller, you know, as a small, small scale.
1:03:09: But it was creating, , Austrian economics and hard money on a Blockchain through free market adoption.
1:03:15: And it was just getting bigger and bigger and bigger.
1:03:19: Now, round about this time, , one of the exchanges bit fin X was hacked for 100 and 19,000 Bitcoin, and I remember the pain of Mount Gox and how much it set our industry back.
1:03:32: And so cos bank to the future worked with the bit fin x team in order to create the world's first security token.
1:03:39: , whereby rather than going into bankruptcy, , they socialised The loss of the Bitcoin that was stolen gave everyone the right to receive the token if they were recovered and they were recovered this year.
1:03:50: It's currently going through the Department of Justice, , and give everyone a token that they could either sell on the market.
1:03:58: And that token was worth a dollar of debt if you believed in the future of bit fin, and then you could use bank to the future to exchange that dollar of debt for equity and become a shareholder in the company.
1:04:10: , $72 million was the size of the hole, based upon the price of 100 and 19,000 Bitcoin at the time, and we created the first process while back.
1:04:20: Mount Gox was in bankruptcy for 10 years that recovered within nine months, and those shareholders we still have them.
1:04:28: We created a secondary market on bank to the future.
1:04:30: Later, , that took the price that you know, the token went to about 30 cents and the equity went up to a peak of about, , $16.5 per , as well.
1:04:43: And they paid out all much of their profits and dividends to shareholders and eventually, the tokens.
1:04:50: The Bitcoin was recovered as well.
1:04:52: , based upon a few other things that happened.
1:04:55: , but we proved that by using free market mechanisms rather than the bankruptcy process, we created probably one of the most profitable recoveries from a hack and a bankruptcy process using a token that was created on top of Bitcoin as well.
1:05:16: Now this led to the recovery, and tether started to get real adoption.
1:05:19: There was real adoption in bit fin x, and one of the customers that was using tether because the exchange couldn't get a bank account was a client called C Z, who created an exchange called, binance, based upon his experience for working at one of the Chinese exchanges O X, and by having just fully crypto to crypto exchanges.
1:05:41: Tether became the lifeblood because as binance grew and grew and grew and eventually became the largest exchange in the world.
1:05:48: , it was backed by tether and bit fin x became the bank, you know, for the industry.
1:05:55: And binance just went explosive growth through the roof.
1:05:59: And then the bank started to try and shut down the bank A bank accounts behind tether.
1:06:04: , and we had this craziness, , as the industry became a multi bigger and bigger and bigger industry, , as a result of that, but now we're on 2017.
1:06:15: And in 2017 I was presenting in China, I was, I did at this time.
1:06:21: After the tour of all those different regions I presented across 18 different provinces in China Cos the Mandarin version of my book sold a lot more copies than the English version.
1:06:31: And many, many people in China got into Bitcoin as a result of bank to the future.
1:06:36: Protect your future before governments go bust.
1:06:39: But now we're in 2017, and the block war debate is getting scarier and scarier and scarier.
1:06:46: But the industry reached consensus through free market mechanisms.
1:06:50: There was a thing called a U activated soft fork that would threaten the miners if too many of the miners colluded in order to increase the block size and what we needed to scale Bitcoin without forking it off.
1:07:02: , and increasing the block size was implemented.
1:07:05: And in 2017, while I was on stage at a conference in China, segregated witness was implemented and we had the Bitcoin cash hard fork.
1:07:15: They went in their own direction, and Bitcoin just was able to take its community with it.
1:07:21: And those that were looking at bigger blocks went off to the Bitcoin cash community.
1:07:25: And it turned out that there isn't 42 million Bitcoin through a hard fork.
1:07:29: Bitcoin survived.
1:07:31: We went through the 2017 pump market, and, , yeah, that the we we got through that.
1:07:41: And it was a very historical moment in Bitcoin mining history as well.
1:07:45: , and, , as, , the different parts of the ecosystem went through that.
1:07:51: , at this time, we had the first.
1:07:53: Now, , we got through that the first Bitcoin mining IP o.
1:07:57: And so, , I we invested in bank to the future in a company called Bitcoin Group that tried to IP o a mining company in Australia in 2014.
1:08:06: But the A S X, the regulator in Australia, rejected it, , saying that you couldn't model Bitcoin as the main reason.
1:08:14: , but by 2017, a company called hive Blockchain mining , it went public on the Toronto Stock Exchange and we had the very first public Bitcoin miner by 2017.
1:08:27: , and we had essentially the pump and dump market when Ethereum was creating all these different tokens and project after project was scamming people.
1:08:39: , based upon the Blockchain narrative that was prevailing from banks trying to take over Bitcoin , and, , the 27 IC o boom and bust cycle happened even a bank to the future.
1:08:51: , we got disrupted by, , token sales.
1:08:55: , because no one wanted to invest in equity because all these tokens were pumping and dumping on B and all the different exchanges.
1:09:02: , and we went through this crazy pump and dump market called the IC O bubble that led to a crash as none of the meant.
1:09:10: Very few of those projects were unsustainable.
1:09:13: And just like the dot com boom and bust, the IC o boom and bust mike cycle happened.
1:09:19: And in 2018, we enter into a massive, Bitcoin extended bull market.
1:09:25: But d sorry, bear market.
1:09:26: But during this bear market, , we managed to innovate, and the industry, the ones that hung around, were building and building and building, and the ones that got through it were the ones that really believed in Bitcoin in the first place.
1:09:40: Now do me a favour.
1:09:42: I'm gonna go through the rest of it after the 2017 IC o boom and bust, , I'll go through 2018 and beyond, all the way through to 2020.
1:09:50: , what?
1:09:51: I think the future in 2025 is, but I'm gonna take a quick sip of water.
1:09:55: If you're enjoying this, I'd like you to repost reshare hit the like button and put a comment for me.
1:10:01: , in the comments, if you're watching on YouTube and on X, let me know what you're thinking of this content and whether you learnt something new and what you would like in future episodes of Bitcoin Hard talk on three.
1:10:11: Do that for me.
1:10:12: I'll take a quick water break, hit the like button.
1:10:14: 123.
1:10:15: OK, so, , in 2018, , the valuations of many of these companies that we had invested in through banks of the future and Bitcoin capital, they started becoming multibillion dollar company.
1:10:27: The valuations were going through the roof, and so we had many investors that wanted to sell their shares.
1:10:34: and so we launched a bank to the future.
1:10:36: A secondary market where people that missed the funding round as our industry got bigger and bigger could buy that private equity from other investors that wanted to sell.
1:10:46: , and, , we put companies like circle and bit fin and Blockchain dot com and bitpay and Coinbase, , on, , our secondary market.
1:10:56: And, , people were able to get into the companies that they had missed, , on a private equity secondary market as well.
1:11:04: , then one of the companies we invested in circle, , they decided to launch a competitor to US d t tether, , from the US under a different, , type of regulatory environment.
1:11:16: And they launched US DC, , on ethereum And, , then, , that started to work with various different financial institutions.
1:11:26: , and circle became this very large company based upon US DC as well, and that was 2018.
1:11:35: now What happened in 2019?
1:11:36: Well, now we have segregated witness on Bitcoin.
1:11:40: That was the technology that was needed to launch various open source code like the lightning network and the lightning network was what was known as a layer two.
1:11:50: And the theory was that you could lock up some Bitcoin on layer one and then create another network on layer two that would allow you to send instant Bitcoin transactions for a fraction of the fee that was later used by El Salvador in order to support, , Bitcoin adoption for micropayments when you classify Bitcoin as legal tender so that there are tax benefits, , and you don't have to incur tax when you're spending your Bitcoin.
1:12:17: But in 2019, we got the lightning network launched.
1:12:21: , and it started to grow slowly.
1:12:25: It is still getting adoption.
1:12:26: It's not been the fast type of network, but there is a mountain of innovation that is now happening on top of Bitcoin and, , lightning network, at least allowed and bootstrapped cheaper, faster transactions.
1:12:39: , and, , it got launched and allowed all of the layer two innovations and solutions that still to this day are being innovated.
1:12:49: , in order to, , support, , Bitcoin scaling and micro transactions as well.
1:12:56: , so it started to get transact , traction in 2019.
1:13:01: , and at this time, I launched a video series called The Great Depression of the 20 twenties.
1:13:08: , and what I wanted to do is everyone was kind of saying to me, Bitcoin treated me very well.
1:13:13: It gave me complete financial freedom.
1:13:15: I was advocating for Bitcoin all of this time.
1:13:17: It allowed me to exit the proof of weapons network.
1:13:20: , and essentially, , because my father asked that question in 2000, , his pension was replenished through Bitcoin, and he never had to worry about money ever again.
1:13:32: , as a result of Bitcoin, and it gave me intergenerational wealth that I could never imagine was possible.
1:13:40: Just because of the monetary policy of Bitcoin was so predictable as well , and so many people started to criticise me, saying, Oh, it's too late.
1:13:50: I've missed the boat.
1:13:52: The price of Bitcoin is too high.
1:13:54: They would say that to me when Bitcoin got to a dollar when it got to $10 when it got to $100 when it got to $1000 when it got to $10,000 when it got to $74,000 the same would be the same.
1:14:07: You know, the the the the fear would always be the same.
1:14:10: , and, , they would say it's too late.
1:14:12: I missed the boat.
1:14:13: So what I wanted to do is demonstrate to people two portfolios live.
1:14:18: And, , if you are a member of the Bitcoin hard talk membership portal, you can still get this video series that I started to create in 2019 for free.
1:14:27: , where I demonstrated how I would build a portfolio from scratch with a million dollars of savings and what I would do if I had no savings today.
1:14:37: , and I wanted to demonstrate to people that it doesn't matter.
1:14:41: , you can still do it at today's price.
1:14:44: , and , I'm actually in 2025.
1:14:47: Gonna be doing a follow video series where I'm gonna do the same again at this price and review exactly what happened to exactly what I invested live in 2020 as well.
1:14:59: , spoiler alert.
1:15:00: It beat every single market, even though there was crazy things that happened.
1:15:05: , So I released that video series in 2020 to teach people the power of accumulating Bitcoin, regardless of price and dollar, cost averaging and all the things that I'd learned from blowing up some of my Bitcoin.
1:15:18: , and, , you can still stand behind many of what was taught there as well.
1:15:25: , but in 2020 round about this time, we started to get the birth of what later became known as crypto yield.
1:15:34: It actually started because bit fin X created a peer to peer market where you could lend people your Bitcoin that wanted to borrow it in order to, , create short trades on Bitcoin.
1:15:47: , and they created this market that put together people that wanted to pay interest for your Bitcoin.
1:15:53: And then it became collateralized through a margin call.
1:15:55: So they created the ability to short Bitcoin for speculators and traders.
1:16:00: , but that later became grew through a company called Salt.
1:16:04: And then we had copycats like, , Celsius and various other companies.
1:16:08: And in 2020 we had this, , in 2019, the birth of this industry of, , people receiving yield on their Bitcoin.
1:16:17: Locking it up.
1:16:18: , which led to an industry that blew up later as we cover three more.
1:16:24: But I'd say in 2020 now, this, , after Blythe Masters failed in taking down Bitcoin and many people, we started to get that early institutional adoption at this time in 2020 we started to get a massive amount of institutional adoption.
1:16:43: , at this time, we had the birth of companies like, , micro strategy that were sharing, , getting into Bitcoin as a treasury management strategy as well.
1:16:54: We also got companies like square, , that was founded by, , Jack at, , Twitter.
1:17:00: and, , you know would then, , start to use it as a Bitcoin company as well.
1:17:05: , and we just started to get more and more investments and treasury management.
1:17:10: We then started to get this wave of banks that would support Bitcoin like Silvergate and Signature and Silicon Valley Bank as well, because there were these, , Silicon Valley Bitcoin star tarts as well.
1:17:22: And Facebook copied the experiment of stablecoins and launched the Liber project in order to create what would essentially be a non fractional reserve bank.
1:17:32: , using the largest social network in the world, which got a massive amount of pushback and was never able to launch.
1:17:41: And then Facebook sold what they created to silvergate.
1:17:45: And then silvergate created a network of 24 7.
1:17:49: , you know, banking that would support crypto companies that needed access to banking as well, , and created a network where Kraken and various other exchanges could all integrate into each other.
1:18:03: , and we had this network based upon Blockchain technology that would allow for exchanges to have access to banking in real time, , through silvergate bank that was then copied by signature and various other ones.
1:18:18: Now we're moving into 2021.
1:18:21: , in 2021 Bitcoin reached its new all time highs.
1:18:26: And this was, when El Salvador announced at the Bitcoin conference that, , they're gonna make Bitcoin legal tender and president bukele put together a Bitcoin sovereign strategy.
1:18:40: and, , this sovereign strategy, using Bitcoin as legal tender, created one of the biggest shifts in a country that you have ever seen.
1:18:50: El Salvador was beaten up by the proof of weapons network.
1:18:54: Whether it be covert regime change, whether it be civil wars, whether it be raping and pillaging of a country through Gangsters, , through, you know, the l A.
1:19:04: Gangs that led to mass deportations , in l.
1:19:07: A.
1:19:08: That led to the M 13 gangs, , on the wrong side of the proof of weapons network through all of the post covert regime changes from America that led to drug trafficking operations, complete corruption of the government that built in institutional racketeering organisations that were funnelling money through the proof of weapons network that was institutionally connected to the CIA, MI-6 and Massad that created all these, , racketeering organisations and President Bukele decided to create his own political party, got into power, stamped out the corruption, said no to the International monetary Funds that got El Salvador into funding both sides of civil war.
1:19:53: , got the country deeper and deeper into debt, destroyed its currency, ended up removing its local central bank depending upon the dollar in the Federal Reserve for its monetary policy, and deep and entrenched into the Rothschild Bank for International Settlements network that destroyed its currency and got it deeper into IMF debt.
1:20:15: But Kelly said, No more.
1:20:17: We're gonna launch a Bitcoin strategy, and, and, , basically, , became the first country in the world.
1:20:27: , that actually did it and stood up to the IMF and stood up to the Bank of England and transformed the country and, , using a Bitcoin strategic reserve asset strategy, , and throwing out all of the corruption in the country.
1:20:44: So my attempt to do it in Iceland that ended up with a, , mining industry.
1:20:50: My attempt to do it in the UK that ended up Eventually they ended up, , putting together a regulatory environment for Bitcoin.
1:20:57: , but they weren't weren't ready to do it.
1:20:59: That led to them taking away our licence.
1:21:02: That led to me trying to support Isle of Man that led to the Bank of England on the proof of weapons network threatening the Isle of Man and holding the island to ransom.
1:21:13: , basically, , got implemented in El Salvador and El Salvador got to transform its country.
1:21:22: Bitcoin hit new all time highs, and then the IMF the Federal Reserve went through its normal, as it did in the twenties and thirties pump and dump scheme.
1:21:35: In order to wipe out all of those banks and take over the banks that it needed to and use regulatory corruption to allow Ponzi schemes like Celsius, which was an Israeli shell company.
1:21:47: , and, , companies like F T X, which was a money laundering organisation for the Democrat Party.
1:21:55: , political contributions, Ukraine and all sorts of stuff.
1:21:59: and, , you know, being able to get meetings with Gary Ginzler from the S E C.
1:22:05: To take the industry down, make it look bad and execute Operation Choke 0.2 0.0 which happened later as we go through this.
1:22:16: , So anyway, , I went to meet, , President Bukele shortly after I gave a retirement plan strategy.
1:22:23: It wasn't executed exactly how I would have done it, because it gave everyone some Bitcoin and then it allowed them to sell them rather than hold it through to retirement and align the whole country around Bitcoin growth.
1:22:34: , they started to look at the Bitcoin bond, , which, , Samsung, Mao and bit Finn, and, , and Max and Stacy and, , bank to the future.
1:22:44: , put input to of how you could, , eventually they had an announcement of Bitcoin city and the Bitcoin volcano bond.
1:22:51: , using the bond strategy that we used in Iceland and various other things, , started to support be Kelli in any way I could.
1:23:00: Interestingly and ironically, he read the Bitcoin standard, which was created by Seif Adina mousse, which is a Palestinian economist.
1:23:07: , and, , and, , started to, look at how you could free yourself from the IMF and started implementing the Bitcoin Strategic Reserve asset strategy that later in America Thomas Massey, would implement, , based upon nay bu kli, a Palestinian president Beta testing it, which I believe could later be, , used in order to free Palestine from the proof of weapons network.
1:23:37: When Israel probably tries to implement a global central bank digital currency based upon its, , dominance of cybersecurity and artificial intelligence, , that could be used using the very same strategy in the centre of the world in Palestine, I'd love to see the proof of weapons network go head to head with the country utilising the full power of the proof of work network and showing what could be done side by side anyway.
1:24:09: this is when I incorporated, , my company that I later launched on Simon Dixon dot com.
1:24:15: , and, , you know, in El Salvador to try and support the growth of the Bitcoin industry in El Salvador, , and, , launched the Bitcoin hard talk podcast around about that time, , and, , incorporated the brand, the Bitcoin wealth builder, which I'll be launching in 2025 to support people in making sure that they're on the right side.
1:24:38: , of these changes as we move to a world of Bitcoin A I and central bank digital currencies alongside bank to the future, , which has a multi regulatory structure in order to be able to offer, , its services across the world as well.
1:24:55: , So anyway, in 2021 after this, we had a massive wave of Bitcoin mining companies that would then go public and created this very buoyant Bitcoin, , public company sector as well.
1:25:09: , and so it took basically, you know, the 2014 structure that we tried with, , Bitcoin Mining Group, that we tried in 2014 that got shut down by the Australian regulators, took the model that worked in Toronto and then started to do it in NASDAQ through spas and reverse listings and shoehorn their way on and created an amazing industry of mining that mainly happened in America in Texas, China decided to ban Bitcoin mining.
1:25:38: A bunch of Bitcoin mining came over to Texas.
1:25:41: It also went over to different regions.
1:25:44: , in order to create, you know, more and more diversification and geographical dear, , diversification.
1:25:51: As the mining industry grew bigger and bigger and bigger.
1:25:54: One of our portfolio companies came off the bank to the future secondary market, , and went public on NASDAQ, which was Coinbase and in the pre IP o market.
1:26:04: Our investors were rewarded because the pre IP o market was at $100 billion valuation.
1:26:10: It corrected more recently, it's about $50 billion.
1:26:14: , but anyway, we had this very buoyant public market, , at bank to the future, we managed to We spent two years applying for the licences to be able to offer these Bitcoin public shares as well as private shares as well as virtual assets.
1:26:30: , , to our investors as well, , and went around that.
1:26:35: But now we hit 2022 and in 2022 we went full blown into the bear market.
1:26:43: , and that was caused by an absolute regulatory crackdown and very deliberate and strategic strategy by the Federal Reserve.
1:26:56: In order to wipe out more banks, and, , support more quantitative easing and more and more strategies using the regulatory crap, , capture and the fact that NATO expansion led to a retaliation by Russia, which led to oil spikes, which led to inflation, which led to a pump and dump scheme with interest rates by the Federal Reserve as they started to push the proof of weapons network into scamming more and more countries to, , spend more and more in the military industrial complex to pump up the price of their stocks based upon the money printing of the Federal Reserve to support the shareholders and the banks and financial institutions that would benefit from World War Three.
1:27:47: Just like it benefited from World War Two and World War One as well.
1:27:51: , when the Federal Reserve was created in 1913 that immediately led to World War One in 1914 And so we had this little scheme where the Fed came out and said After, , you know, bailing out in 2008, having a zero interest rate policy, quantitative easing, expanding the balance sheet, , and, , creating the the market and solving debt with more debt, getting the US government trillions and trillions deeper into debt.
1:28:20: , and the Fed decided that inflation is transitory, kept the interest rates down and then decided to hike those rates in one of the fastest.
1:28:30: , since the what created the Great Depression in 1930 in the 19 thirties as well, , that created market turmoil, , and gave the, , basically had its knock on effects on the Bitcoin and crypto market.
1:28:45: Now one of those scams that was essentially pretending to be decentralised that was playing central banker was a company called Terra Luna, and Terra Luna collapsed as a result of this spike in interest rates because it crashed the price of Bitcoin, we had the mining C, crash, as well as China decided to ban Bitcoin mining demonstrate that Bitcoin mining can survive a large country, making Bitcoin mining illegal and exchange is illegal.
1:29:16: , and, , we, you know, the the network of Bitcoin just got stronger and stronger as a result of it.
1:29:23: But one of the backing of the Terra Luna Ponzi scheme, which got with its token and its stablecoin, ended up being about $60 billion of market cap backed it by Bitcoin.
1:29:35: And as the scheme on mine didn't need to sell the Bitcoin, this crashed the price of Bitcoin.
1:29:41: and, , we had this speculative attack on Bitcoin.
1:29:45: And then all of the other tokens went down.
1:29:47: And $60 billion in the Terra Lua Ponzi scheme by do Kwon who's now facing prisons and exile into the US and South Korea, exploded $60 billion of value.
1:30:02: now one of the companies because the S e c wouldn't approve an ETF on Bitcoin for, , strategic reasons and corruption reasons from the bank lobby.
1:30:13: and so everyone started investing into this investment trust called G BT C, which was created by Grey Scale, which was created by Barry Silber, which was created by the guy that created digital currency Group that tried to co opt Bitcoin to sew two x by, , investing in all the different Bitcoin mining companies.
1:30:33: , and Bitcoin companies, , during those early days as well, using the money that he made from second market from NASDAQ and selling that company to NASDAQ.
1:30:44: , well G BT c pumped into a massive premium that got institutions to buy Bitcoin because they couldn't buy Bitcoin direct through an investment trust.
1:30:54: And as the more people wanted to buy it, the price of the Bitcoin went into a massive premium where it was trading at approximately 40 to 50% greater than the price of Bitcoin because so many institutions wanted to get into it in 2021.
1:31:10: And, , this was being arbitraged by several hedge funds that were essentially using an arbitrage trade between G.
1:31:18: BT C , and, , Bitcoin, that created this premium that then went to a discount and crashed G BT C where it was trading at a peak of 50% discount to the price of spot Bitcoin and several hedge funds that were probably using the Japanese carry trade in order to borrow money and get additional liquidity.
1:31:41: One of those hedge funds was a hedge fund called three Arrows Capital.
1:31:45: They collapsed because they were investor in Terra Luna.
1:31:48: They were doing the whole thing on leverage.
1:31:50: They were using the G BT C arbitrage trade, which turned into a massive loss which blew up.
1:31:57: And one of its investor was another hedge fund called Alameda.
1:32:01: , and Alameda was the same company as Sam Brantman Fried's F T X, which was the precursor.
1:32:08: And then they blew up.
1:32:10: And, , they had all of these Ponzi scheme lends because loans, because they were receiving yield by lending those funds that it was probably leveraging from the Japan carry trade from the Ponzi Scheme of the Bank of Japan, which was a Ponzi scheme from the Federal Reserve.
1:32:28: In order to reinvest that company to pay the yield from all those companies that were set up to pay people yield in those crypto crazy companies like the Israeli shell company Celsius.
1:32:43: And so one of the companies that, , Alameda was lending money to and leveraging up client money on F.
1:32:50: D X was a company called Voyager.
1:32:52: They went into bankruptcy when F D X could no longer repay the loan.
1:32:57: And so F T X tried to pretend that they were, like the JP.
1:33:02: Morgan, of the 1907 crash and tried to buy Voyager in the bankruptcy process.
1:33:09: The same happened with Celsius, which was a massive fraud and Ponzi scheme from day one, , by Alex Minsky, who have, , in January next year will be facing up to 100 and 15 years in prison, and all of the co-founders are hiding out in Israel and creating start ups with President Netanyahu.
1:33:28: And one of the holes was one of Netanyahu's company, , that had ethereum hacked bank or Dow , that the shareholders were family members of President Netanyahu, and, , it invested in a company called G K eight with 100 and 50 million of client money into an Israeli company.
1:33:47: , and, , it was basically a laundering organisation that, led to the loss of billions of dollars of 650,000 victims.
1:33:57: Block Fight also went into bankruptcy as well.
1:34:00: , because it was dependent upon F.
1:34:03: D X and then one of Barry Silber's subsidiaries.
1:34:06: Genesis also went into bankruptcy, and at that point, F T X tried to restructure it.
1:34:13: Hide all their bad debt and the massive hole that was on their balance sheet by pretending that they were buying these companies to restructure their loans, hide it all up.
1:34:24: , but C Z from Binance then came out and said, Well, we invested in F T X and we believe that F.
1:34:32: T X has got a bunch of bad debt on its balance sheet.
1:34:36: It is a bad actor, , and so , f t x tried to buy all the companies to hide all the fraud, and then f t x collapsed because it turns out that the whole thing was hinging upon hiding its hole by launching a fraudulent token called F TT and C Z from binance announced publicly that they are gonna be selling their f TT tokens that crashed the price.
1:35:04: , they tried to pretend they were gonna buy back the tokens, and the whole thing blew up and exposed.
1:35:11: That, , f t X was actually an agent for many of trad f's schemes that were covered up and not covered in the bankruptcy.
1:35:21: , but they only tried to cover the bad things that made, , the whole industry look bad.
1:35:28: and so it turns out.
1:35:31: that are in revenge for that Because Saman and Fried was buddies with Gary Ginzler, the chairman of the S E C.
1:35:41: And because, , some China companies were laundering money through it and making blackmail operations.
1:35:48: And because the Democrats were laundering money that made its way back to the Ukraine proof of weapons network.
1:35:54: And because Republicans were engaging in political, , finance and bribery, they dropped all those charges.
1:36:03: And, , they charged binance with money laundering.
1:36:08: , and the Department of Justice came after b.
1:36:12: , in order, , to take down b as well.
1:36:16: But it turned out binance had the money, even though it was engaged in all sorts of criminal stuff as well.
1:36:22: , and this was all tied together into the perfect operation Choke 0.2 point.
1:36:30: Oh, on 2023.
1:36:32: In order to take our industry, wipe out a bunch of life savings and retirement funds of innocent victims and demonstrate that the fed the S E C , the DOJ, the C f t c.
1:36:49: Were willing to wipe out billions of dollars of American savings, , to allow these Ponzi schemes to prevail in order to take the industry and hand it over to their bodies.
1:37:01: That are shareholders of the Federal Reserve, with companies like BlackRock that are able to control the entire markets through their voting rights in shares.
1:37:13: By creating ETF s in order to funnel the money money back to all of the Israeli political interference from the money printing of the Fed that use regulatory crap through the Israeli lobby and all of the laundering of money through US colleges in order to make sure that these schemes benefit from the growth of the proof of weapons network that we are experiencing today.
1:37:41: And so, in 2023 we had Operation Choke 0.2 0.0 where the feds essentially, , crashed the market.
1:37:51: FDIC decided to restructure any banks and lend money to JP.
1:37:58: Morgan so it could take over those banks like it had done, , in b predating the precursor, You know, the creation of the Federal Reserve and, like it did in the 2008 financial crisis and like it did in the Great Depression of the thirties and like it did in the boom and bust cycle of the two thousands that wiped out all my father's, , pension money and made him broke again.
1:38:26: and, , like it did in 2023 with Operation Choke 0.2 0.0 when it crashed Silicon Valley Bank and all of the crypto friendly banks.
1:38:36: So what happened is the S e.
1:38:38: C.
1:38:39: Started suing all of, , the crypto market companies, , and fraudsters that it basically, even though the DOJ was investigating Celsius from 2000, it still let it go from 250 million to a $25 billion Ponzi, even though it was still investigating the S E.
1:38:59: C as well.
1:39:01: and what happens?
1:39:03: Well, the commodities and futures traded commission C F T C classifies Bitcoin and E as commodities and the S E C classifies everything as, , securities and starts regulating through enforcement.
1:39:21: And, , even though many, many companies, for example, Coinbase I was a shareholder in Coinbase.
1:39:27: As I said, , it even purchased our securities licence when we had a US compliant securities licence.
1:39:34: It acquired it from us in 2018.
1:39:36: So I know it had the licences and it was lobbying the S e c to say what do the regulations look like?
1:39:43: But instead, the S E C decided to sue Coinbase even though it was public and it had the S E C registrations.
1:39:50: It just wouldn't let them lo use it.
1:39:52: And I know it had them because we built them at bank to the future, , and sold them to Coinbase so that it could use them as well.
1:40:00: And then the 0 cc.
1:40:01: The operate the the the Fed regulator as well started coming after the crypto friendly banks and, , started, , implementing, you know, regulations for stablecoins and the stablecoins basically survived because they started backing all of those stablecoins by Treasuries and tether.
1:40:22: Now become the 18th largest lender to, , the US government and became strategically important to survive based upon their euro market.
1:40:34: , and working with the stablecoin market as well.
1:40:38: And the Department of Justice started coming after all the different fraud companies.
1:40:43: , and basically the US decided to negotiate with C Z from b, who recently came out of prison after serving four months S B f got 20 years, and, , they took over the Department of Finance so that they the US government could gain access to 250 million data from binance accounts and even started accessing asset free free seizures for Israel for Palestinian accounts in order to support their genocide by making it where they had to, , the Palestinians would have all of their assets frozen at the same time as a food blockade, a financial blockade and a aid blockade.
1:41:29: , and they had to get permission from Israel in order to get their funds back, and Israel said no.
1:41:34: And, , the US compliance department executed a coup of finance after Operation Choke 0.2 0.0.
1:41:44: and, , basically started preparing the market to say everybody buy Bitcoin through our buddies through BlackRock through fidelity Custody them with Bank of New York Mellon will sue the companies like Coinbase, and we'll implement regulations that say banks can't custody Bitcoin unless we give you an exemption.
1:42:07: And the S E C gave an exemption to Bank of New York Mellon because they are a shareholder of the Federal Reserve and complicit in the process of all the money laundering that happens through the US d proof of weapons network based upon the money printing of the Fed and the, , criminal activity and racketeering CIA, , criminal organisation that is supporting the proof of weapons network that wikileaks exposed to us through all of the, , documents as well.
1:42:38: So at this time, we've now had a change called tap root in the code we've had segregated Witness in the code.
1:42:47: The Bitcoin halving has working like clockwork.
1:42:50: , the code never goes down.
1:42:52: The banks couldn't beat us.
1:42:53: They tried to through block Blockchain, not Bitcoin.
1:42:56: And instead they joined us.
1:42:58: And, , at this time we started having public companies like Coinbase we started having the banks that wanted to that the the regulators were gonna support in taking over the centralised part of the industry.
1:43:12: But the decentralised industry worked, never stopped and everybody could still self custody.
1:43:18: Their Bitcoin spend their Bitcoin without permission from a government without a need for a bank to hold it and the in the it beat the shit out of every single asset class.
1:43:30: Based upon the supply and demand and stock to flow ratio of the four year cycle as it was designed, these larger and larger mining companies grew.
1:43:40: It got geographically diversified around the world.
1:43:44: Sovereign nations started to use Bitcoin.
1:43:46: MicroStrategy created the most successful S and P company on the S and P 500 by using Bitcoin, , and people started to build on top of Bitcoin because we got changes like tap root and we had things like Ordina Andrus and this very competitive market as we started to move to the next halving and the next halving cycle as well So the use of, , ordinals basically, , meant it where people could build what was built on ethereum.
1:44:23: , in launch.
1:44:25: You know, n f t s in launch.
1:44:27: , stablecoins, , and, , allow there to be a competitive market for Bitcoin so that the miners could then get their subsidies as Bitcoin halves and the block rewards subsidy.
1:44:41: And we just have this amazing free market, , those that own the public miners.
1:44:47: They prefer the fees to come in.
1:44:49: , the miners like the fact that there's a competition for, , you know, , being able to spend Bitcoin and pay transaction fees.
1:44:58: , this creates the market, , for Bitcoin halving to continue to prevail the difficulty rate adjustments, the security behind Bitcoin gets bigger.
1:45:07: , mining becomes strategically important for more and more countries and more and more countries.
1:45:13: We just have this Austrian economics free market hard money where Bitcoin gets stronger and stronger and stronger at every halving cycle.
1:45:22: Which means that the you know miners have to sell less Bitcoin in order to cover their electricity cost the electricity behind Bitcoin drives renewable energy innovation, an innovation in repurposing was wasted over capacity electricity by allowing people to monetize their Bitcoin, which allows people to repurpose the heat of their Bitcoin miners and the Bitcoins that are generated for reinvesting into more renewable, , nuclear energy.
1:45:54: And companies like Terol start creating Bitcoin miners based upon nuclear power plants that can do things at half the price price and sovereign nations start using Bitcoin as a strategic strategy to protect themselves from their central banks from the IMF from the Bank of England from the Federal Reserve and even integrate it into networks like bricks which are distributed ledgers that can can then use Bitcoin in order to have perfect auditability perfect transportability perfect divisibility.
1:46:28: , because Bitcoin does things better than gold in a global digital environment as well.
1:46:36: And so this perfect market and game theory where countries need to be involved, central banks need to be involved.
1:46:44: Individuals need to be involved, institutions need to be involved, banks need to be involved, corporations need to be involved and we undo the proof of weapons network slowly on a bottom up movement.
1:46:59: As people start to realise that these stable coins are actually full reserve banking on a Blockchain what I originally tried to create when the Bank of England said no and tried to censor it.
1:47:12: Now the government realises that they can protect themselves from the banking system by backing these stable coins by their debt, which creates a speculative attack on the fractional reserve banks, which then leads to their agenda of the to try and create a central bank digital currency as the banks get consolidated into fewer and fewer banks, eventually just JP.
1:47:34: Morgan and the shareholders of the Fed and eventually repackaged into the Federal Reserve to create complete communism on a Blockchain.
1:47:42: But the resistance movement of Stablecoins for reserve and Bitcoin that competes with gold and allows an exit regulates the system as artificial intelligence likely takes over when central bankers can't operate at the speed, Which is why you understand we're being driven into World War three so that the Federal Reserve can dump the dollar after making America deep in debt pay for all the war to support the military industrial complex so that the cybersecurity and the shareholders of the Fed that created Israel that is getting all of the artificial intelligence data can dump America as a as the as the Federal Reserve dumped Britain pre World War One and used World War Two to make that transition.
1:48:36: That is what I speculate is coming through.
1:48:39: And Israel can get independence from America with this global central bank digital currency, well, anyway.
1:48:46: , they crashed the market in 2023 the market for miners.
1:48:51: Some of them went into bankruptcy.
1:48:52: Some of them survived the difficulty rate adjusted.
1:48:56: We have this, , perfect free market that works and the security and Bitcoin continues as usual, layer two innovation goes up as more and more people start using Ordina and the final part of the plan where the Fed says if you can't beat them, join them.
1:49:13: What do we need during this transition phase as we bankrupt America and the American government as we transition to the CBD.
1:49:22: C.
1:49:23: Well, we need to make sure we're ahead.
1:49:26: So all of the central banks start buying gold pushes the price of gold up to new all time highs.
1:49:32: And, , BlackRock is approved to be the first exchange traded fund to own Bitcoin, and now they get to hold a million Bitcoin , for its customers.
1:49:44: And then their funds get to buy Bitcoin so that they can transition their funds to perform well during the transition phase as a result of the systemic, inflation ridden US d proof of weapons network that implodes upon itself by creating internal conflicts through wealth inequality through a financial apartheid.
1:50:08: As more and more debt in CR in, it takes more and more people more and more companies, , into a central bank digital currency in the end.
1:50:20: So in January 2024 I had a bet where Rob from Digital Asset News had to wear a I love mezynski, the founder of Celsius T-shirt Cos I said in January 2024 black cork will be approved for the Bitcoin ETF and I won that bet.
1:50:36: I don't I don't bet financially.
1:50:39: , but I did bet a t-shirt and that's how I knew in January, because I followed the money, followed the trends, , and won that bet , now the S E c sus Coinbase.
1:50:53: , the regulations come through that say, banks need to, , get, they can't put Bitcoin on their balance sheet unless they get an exemption.
1:51:03: And the S.
1:51:04: E C.
1:51:04: Says we'll give that exemption to Bank of New York Mellon so that Bank of New York Mellon can custody those Bitcoin.
1:51:10: Then they approve the ethereum ETF so that initially, they say no one can stake it unless you're doing self custody.
1:51:18: But they put it in the ETF.
1:51:20: They accumulate enough eth in the ETF so that eventually they can, , put it in Bank of New York Mellon in custody.
1:51:28: So the Bank of New York Mellon can then get approval to stake that heath.
1:51:32: And then, by staking the heath, they control the stakes.
1:51:35: They control the governance of the future of Ethereum, and then they can launch their stablecoins and central bank digital currencies and tokenize real world assets on top of Bitcoin and BlackRock gets approved to launch the tokens Real World Asset Exchange in Texas.
1:51:53: , which it is waiting to transfer all of that custody over is my predictions for 2025 and beyond.
1:52:02: But fortunately, Bitcoin stayed as proof of work and proof of work.
1:52:06: It doesn't matter who owns it in terms of control of the network, which is why proof of work has created something that BlackRock couldn't be.
1:52:15: So they had to join.
1:52:17: But you get to free yourself and self custody your Bitcoin rather than own it with BlackRock and contribute to the proof of weapons network.
1:52:25: And we get a proof boy a a peaceful boycott of it as well.
1:52:31: so Bank of New York becomes a qualified custodian.
1:52:34: , trad fight more and more entrenched gets to join Bitcoin because they couldn't take it over.
1:52:40: And that is where we are today.
1:52:43: We had the halving in April.
1:52:46: , the Bitcoin cycle continues.
1:52:48: We had what's now called Oct.
1:52:50: October.
1:52:51: , there was a bit of a correct correction.
1:52:54: And now Bitcoin started to become a massive political player in 2024 where both Trump realised that he could support his election by coming to Bitcoin 2024 committing to a Bitcoin strategic reserve asset.
1:53:11: And now America has everything it needs to free itself from the Federal Reserve if it wants.
1:53:18: It has a, a End the Fed bill by Thomas Massey, who read the Bitcoin standard before implementing it.
1:53:24: It has a demonstrated, which was written by a Palestinian economist that believes in hard money.
1:53:30: It has a demonstration of El Salvador doing the strategic Reserve asset strategy, buying one Bitcoin every day to free itself from the IMF depite.
1:53:39: Despite the fact IMF threatening that it will reduce the credit rating, it will kill the economy.
1:53:47: , despite the Bank of England threatening, despite even the US implementing a national security risk through Bitcoin.
1:53:56: , l s a having a Bitcoin strategy bill.
1:53:58: Passing it now has, if you want the ability to implement the end, the Fed bill, which could be implemented over a multi decade strategy, doesn't have to be right away.
1:54:09: It has a Bitcoin strategic reserve asset strategy and it has all the beta tests that it needs to free America from the clutches of the Federal Reserve that wants to drive America into World War Three to launch communism on a block and a central bank digital currency as predicted, and usher in the new power of Israel, controlling cybersecurity and artificial intelligence.
1:54:40: But at the same time, the Bitcoin game theory, I believe, will resist.
1:54:45: And so we have every country that can decide to free themselves from those central banks.
1:54:52: And you can front run everybody because the world hasn't figured it out yet.
1:54:57: , and you can.
1:54:59: Still, because of the way that Bitcoin was designed, we had the halving in April.
1:55:04: , and the cycle still continues, and I believe it will continue into the second year of the halving in 2025.
1:55:12: So now we have game theory for individuals, game theory for companies and game theory for sovereign nations and any country, as was presented in Bitcoin 2024 can decide to front run the game, implement the Bitcoins Strategic Reserve Asset repurpose its la its l N g , natural gas into mining Bitcoin, and, , support an industry that through Bitcoin mining, can support the growth of their renewable energy innovation, , and repurposing electricity to drain the swamp of the proof of weapons network with a slow, bottom up transition.
1:55:56: And use stablecoins as full reserve banking on a Blockchain as banks go bust and the Fed tries to hold on to its power with its CBD C.
1:56:06: But maybe America and the rest of the world which use the Constitution.
1:56:10: But it doesn't matter because it's bottom up, and, , it will happen anyway.
1:56:17: And that's why we try and protect more and more people.
1:56:20: And that is my prediction for 2025 beyond.
1:56:24: And that is my celebration and thank you to Satoshi Nakamoto of the 16 years on the 31st of October 2008 that launched the Bitcoin white paper that coders in a bottom up movement decided to implement and miners decided to mine and no decided to verify and companies decided to grow.
1:56:49: And the regulators decided to shut our company down from being a non fractional reserve bank so that we could build a securities business and allow people to get exposure to Bitcoin throughout the whole way.
1:57:03: And so, , we will do, and I will continue to do till I have my last breath support as many people in getting Bitcoin in self custody and as many companies in protecting themselves with Bitcoin and as many sovereign nations in freeing themselves from central banks and as many central bank digital currencies backing them by Bitcoin to create game theoretical scenarios where eventually my deluded belief that we can end the proof of weapons network and create a game theory where we don't have to back this by war and diplomacy is the way forward and we can defund the deep state.
1:57:45: And we can expose this deep state because the real media exists because Wikileak exists and people can still contribute Bitcoin as we learn how corrupt our governments were and how corrupt our democracies were and how every single war was a banker's war, thanks to the Bank of England, the Federal Reserve, the Bank for International Settlements, the International Monetary Fund and the World Bank.
1:58:12: As we expose the centralization and combat it with decentralisation while the world starts to figure that out, I will continue to do Bitcoin hard talk each and every week.
1:58:26: And next week we'll be back with Episode Bitcoin Hard Talk Episode 63 where I'll cover everything that happened over the last two weeks in Bitcoin Macro and Geopolitics.
1:58:38: , if YouTube bans it, I'll make sure it goes into the Bitcoin hard talk membership portal.
1:58:43: Go to Simon Dixon dot com.
1:58:45: If they ban it, we'll make sure that it goes up there with the complete archives and I'll make sure you're up to date with everything that happens each and every week.
1:58:54: , next year I'm gonna be releasing the free four part video series where I'll review the 2020 great Depression of the 20 twenties video series.
1:59:03: , and I'll be launching the Bitcoin Wealth builder programme again, , to support anybody that wants to implement a strategy to be prepared for a WOR a hyper Bitcoin world, a hyper a i adoption world that may take away your income and a CBD c world that may take away your life, liberty and freedom If you haven't prepared for it as well, I'll be launching that in 2025 to get as many people to own self custody, Bitcoin and replace their income with income and do it in a way where they can prepare for exactly how I prepare myself as well, even if whatever the price of Bitcoin may be.
1:59:43: and, , I will continue to support the bank to the future team that, , has built the all in one Bitcoin investment platform, , in the jurisdictions that secured all of these different registrations and licences and stayed ahead of all the different regulatory crackdowns so that people can own Bitcoin withdraw it into self custody, stake their heath for income in a registered virtual asset service provider, convert their Fiat currencies off, board them from the proof of weapons network into full reserve banking through stablecoins.
2:00:17: , in a, in environment where it meets the regulatory requirements and audits, buy Bitcoin public shares, , and continue to make a market for the private equity that supported the growth of this Bitcoin industry and integrate the whole thing with tax technology.
2:00:36: Bespoke for building Bitcoin wealth and an inheritance plan that allows people to build into general generational wealth through asset protection structures and make sure that is integrated into a seamless way in what is now the longest standing company in Bitcoin, , bank to the future and the first regulated Bitcoin securities business that will adjust to all of these changes.
2:01:01: And so I wanna end with a happy 16 year anniversary to Bitcoin and always remember, Even though I cover some very, very dark things, you are alive at the most interesting time in financial history.
2:01:19: Some are gonna get hurt.
2:01:21: Others are gonna do really well.
2:01:23: And I want you and as many people to stay on the right side of this change and do it with peace, love and unity through education and holding our governments accountable and you learning the realities of the world rather than the proper guy and die version of the world that will creep you into a CBD c and losing your life, liberty and freedom.
2:01:46: and trick you into putting your Bitcoin in the wrong place and fool you into not being prepared as artificial.
2:01:55: Intelligence goes from centralised to open source and decentralised.
2:02:00: And all of this technology follows the path of Bitcoin to give you decentralised ID decentralised an open source A I and change the world for a better place and we'll share that journey together.
2:02:16: so head over to Simon Dixon dot com.
2:02:19: If you don't have a free membership to Bitcoin hard talk and I'll email you every week to make sure you're up to date with everything, and I will see you next week in Episode 63 of Bitcoin Hard Talk Peace.
