0:00: sorry about that.
0:02: crash ZTA.
0:04: , but do us a favour.
0:06: Retreat reshare the space Bitcoin 2 100.
0:11: We all wanna know as well.
0:13: Are we all gonna be making bank on that assignment?
0:15: But we'll come to that later on.
0:17: Continue on.
0:18: Sorry.
0:18: You got, , you were looking to create your own bank, and then what happened?
0:23: Yeah.
0:23: So, yeah, I was looking to, , create a bank.
0:27: , and, , it just turned out.
0:30: You can't actually create a bank and give people the ability to earn their own money and not leverage up money many times over.
0:40: And so, , you know that that set off a a bit of a journey because you can only create a bank if you agree to do three things, and this helps you understand.
0:49: Bitcoin.
0:50: So I think it's worth knowing.
0:51: So in a traditional bank, when you deposit your money at a bank, the bank becomes the legal owner of your money.
0:58: , so it's not actually your money once it's at a bank, , they promise to repay you.
1:03: , but they don't have to, and they actually can't.
1:07: , most of the time, they rely upon most people not wanting their money.
1:12: , and, , that's the first thing.
1:15: The second thing is, once they become the legal owners of your money, , they can actually redirect it and spend it as they choose.
1:22: And what they tend to do is use it as, , a down payment so that they can issue mortgages.
1:30: , and the reason that they do that is because, , they actually get to create new money every time they issue a loan.
1:37: So, , money at a bank is not yours.
1:40: They can spend it, and they can use it to, , create new money every time they issue a loan.
1:46: So most people think that it's like the government or the central bank that creates money.
1:51: , it's actually the private bank.
1:53: So if you take out a mortgage right now, , then they get to create new digital pounds within their system.
2:01: , they get to charge you interest for the next, , 25 years, and, and, , they didn't have the money in the first place, so they just get to create it.
2:13: And in fact, 97% of all money is created that way.
2:17: It's got one big, fatal floor, though The fatal flaw is that if you get to create a digital dollar when somebody wants to borrow it and all money is created that way, then that money has to be repaid plus interest.
2:33: So if you're issuing a loan for, , you know, $100,000 and it needs to be repaid over a 25 year period.
2:41: Let's say it costs you $250,000.
2:45: Where does the $150,000 that is needed to repay that loan.
2:50: How does that get created?
2:52: Well, the answer is it's a Ponzi scheme.
2:55: , and, , it was designed this way.
2:58: And, , the additional $150,000 needs to be created by getting somebody else in debt.
3:05: And so if you log into your online banking and you've got a positive balance, it's because somebody else has borrowed that money into existence.
3:13: And then there's, , never enough money to repay that.
3:16: So you have to get people deeper into debt.
3:19: , you have to get, , governments deeper into debt.
3:23: And then the easiest way to get them into debt at the largest scale is by funding wars.
3:28: And so the history of central banking is, , creating these private banks, , coercing governments into getting them crippled by debt, , and then using that in order to change the laws so that they can take over the entire monetary system.
3:49: , and , they get to create the digital dollar, the digital pound, the digital euro.
3:56: , and, , that's the way the system works.
3:59: And so it guarantees increasing levels of debt indefinitely.
4:04: And if anyone ever stops repaying that debt, , or if anyone actually defaults on their debt, it creates, , a depression because the money disappears.
4:14: And that contracts all the econ, the economic life, and we call it a business cycle.
4:19: It's just simply getting more people into debt and then eventually, people defaulting on that debt.
4:25: , and, , over time, the central banks are able to control the interest rate to determine when do we want the economy to be good?
4:35: And when do we want the economy to be bad?
4:37: So they control the business cycle.
4:40: , and you can use that to exert massive, , political interference.
4:45: , and eventually drive people deeper, deeper into wars where you can eventually control the policy.
4:51: And so that is our banking system.
4:53: We're all complicit in the process.
4:56: , if any of you are Christians or Muslims, it's actually a cardinal sin.
5:03: , and, , unfortunately, it's built into every pound and every euro and every dollar, , that we can't even escape the system and spend Fiat currency because it was built into the system.
5:18: , and so that's why I really wanted to create Is there possibly a way of, exiting?
5:24: and, , that's when first discovered Bitcoin.
5:28: So, , it was around about 2011 at the time.
5:34: And one of the guys that was part of our monetary reform community is his name was Johnny Bitcoin, and, , he moved into a squat in old street London.
5:44: And, , he said, Hey, Simon, I've, , sold my house.
5:47: , do you wanna come and visit me and meet some guys?
5:50: , that, , have been working on this thing called Bitcoin.
5:54: I was like, OK, i'll come by.
5:56: And, , this house in old street that can only be described as a crack den, , had a bunch of people that were working on Bitcoin code and creating Bitcoin wallets and all sorts of stuff.
6:07: , the price, , of Bitcoin, , was, , 3 $1 at the time.
6:15: , and, , I was writing a book at the time called Banks of the Future.
6:19: Protect your future before governments go bust to try and explain this.
6:23: , and one of the guys, , Amir Tai.
6:26: His name was, he invited me to speak at the first Bitcoin conference.
6:30: It was being held in Prague.
6:33: Wait, wait.
6:33: Simon.
6:34: Simon, wait one second before you get there.
6:35: Did I hear right?
6:36: This was before Bitcoin was worth a dollar.
6:40: Yeah.
6:41: Oh, now it's 80.
6:43: Now it's 93,000.
6:44: So this was when it was a dollar.
6:46: Yeah.
6:47: This is when it's a dollar.
6:48: So it's gone up approximately.
6:49: How many points did you buy for a dollar, Simon?
6:51: , well, I've, at the time, I didn't have much money, But IFI bought my first Bitcoin for $3 at the first Bitcoin conference, and I bought five Bitcoin at the conference.
7:01: And, , ever since then I've had a simple rule.
7:05: Once I understood what it was, , that I just wanted to own more Bitcoin each month than the previous month.
7:12: And so, , every time, , you know, I I try and spend less than I add, , earn and save the difference in Bitcoin.
7:20: , and, , that's what I've been doing since.
7:23: So and it's the price has gone up 30,000% since that first, , purchase.
7:30: so Yeah, that's, what I want.
7:34: What I want everyone to try and understand as well is, Bitcoin was really created as a bottom up movement.
7:41: So when I first spoke at that Bitcoin conference, the community was about 100 people.
7:45: , I think we had about 50 people in a room.
7:48: , and we were all on a us versus the banks mission.
7:53: , it was a bunch of activists.
7:57: , as I said, Johnny Bitcoin he sold his house, , to buy Bitcoin a very wealthy guy now.
8:05: and, yeah, the industry just, , kept growing around about 2011.
8:13: , and then every single year, we've just been it's been a ball, Really?
8:17: Just, , helping more and more people understand it.
8:19: So the first thing to understand about Bitcoin is, it solves those three fundamental problems of banking.
8:27: , the first one was the when Just like when you have Fiat currency, , when you deposit it with the bank, the bank becomes the legal owner of your money.
8:39: , Bitcoin created a way where you could download a wallet and it could either be on your phone or it could be on your hard drive.
8:47: It was very, very hard in the beginning, , you had to be pretty geeky.
8:51: Now the tools are are amazing.
8:53: You can buy, like special devices to own and store your own Bitcoin all sorts of stuff.
8:59: , but you get to be the legal owner of your money.
9:01: It's called self custody, so you get to actually hold it.
9:05: , so if you remember, the last, , space we did on on Bitcoin was around the boycott finance campaign.
9:12: , and that's because finance is essentially it's called an exchange, but it's essentially a bank.
9:19: , they can't lever up your money because they're not allowed to do that.
9:22: , a number of exchanges did that illegally, like Mount Gox and F, T X, and many others over time, but they weren't allowed to do it.
9:30: , but when you store your Bitcoin at an exchange like B, it's the equivalent of a bank.
9:37: You deposit it with them and they promise to repay you.
9:40: But what you should be doing is withdraw it from that exchange and hold it in what's called self custody.
9:46: , and then that gives you the true freedom, the ability to actually earn your own money with no bank in the middle.
9:53: Once you've got it, with no bank in the middle, you can spend it as you choose.
9:57: So anybody else that downloads a Bitcoin wallet, , they can give you their wallet address and you can send it to them, and it works off a innocent until proven guilty system.
10:10: Whereas banking is a guilty until proven innocent, they assume you're a terrorist or something like that, and, , and they ask you for all sorts of documentation.
10:20: Every time you wanna spend your money, it's getting worse and worse and worse.
10:24: , one of the consequences of all of these wars is that we had all this, , resistance and this resistance created.
10:32: You know, anyone resisting against the war was called a terrorist.
10:36: And then you had intelligence agencies that, , create these, , you know, these fake groups, , through design to, , make them look like the terrorists, and and so you get to change all these laws and you have all these terrorist financing laws.
10:53: and, , basically, it just means that when you spend your money, you need the government's permission.
10:58: And then the government outsources the law to the bank, and then the bank essentially has to fulfil, , all of the they have to become the police of money, and when they become the police, the money it slows down the user experience, it makes everything more expensive.
11:15: , the criminals just end up doing the laundering with the bank's permission.
11:19: Anyway, , because the large criminal networks, they're all, , in cahoots with, with, , the intelligence organisations.
11:29: And it's more of a partnership with government.
11:31: Usually, , or the central Bank.
11:34: They get to do all the laundering.
11:35: But everyone else, the innocent people have to provide all these documents.
11:39: And they need permission from the government to spend their money.
11:42: If they send it to someone completely legal, like Wikileaks, they get their bank account shut down.
11:48: , if they try and buy some Bitcoin from an exchange that they don't like, they'll shut your bank account down and try and make sure you only buy it from an exchange that they do like and And so once you hold it in self custody, you don't have any of that.
12:02: You can just spend your money, person to person, and the third and vital thing to help you understand why it's currently hitting, , $90,000 right now is that it was designed with a monetary policy that no one could ever change.
12:18: And some people find this a little bit difficult to get their head around.
12:22: And this is where it gets a bit technical, and then we can move into other things once people understand it, so you can own it in self custody.
12:30: You can spend it person to person.
12:33: But the real game changer is what's known as its monetary policy.
12:37: So we talked about with Fiat currency.
12:40: The monetary policy is simply the banks deciding to issue a loan in a debt based Ponzi scheme where they have to always have infinite more debt, , and that and they determine the monetary policy based upon the whims of the central bank.
12:55: And if you look at a central bank like the Federal Reserve, since they coerce their self into taking over the dollar through violence, assassination, Zionism and all sorts of stuff, , they've created 20 recessions, which were all inflicted by, you know, , increasing rates and then spiking rates and crashing markets, being able to, , buy up stocks at discounts and all sorts of stuff.
13:21: and that's cos they control the monetary policy.
13:24: So Bitcoin just said there's only ever gonna be 21 million Bitcoin no more, no less.
13:29: And nobody can change that.
13:31: And rather than, , having this network of banks that receive, , all of these digital currency , they said anyone can fire up a computer.
13:42: And if you agree to run this programme and solve maths problems, , then you can actually compete to earn these newly created Bitcoins.
13:55: And so the first ever miner was the creator, an anonymous creator, Satoshi Nakamoto.
14:00: And, , if you contributed computer power to this network, , then you every 10 minutes, new Bitcoins would be rewarded, and the monetary policy works as follows.
14:13: , initially, in the very first block, it's called, , anyone mining.
14:19: , if you win the block and you win this competition, , then you get 50 Bitcoins and that continued every 10 minutes for four years.
14:29: after four years.
14:30: , the number of Bitcoins that miners receive every 10 minutes is cut in half.
14:36: So after the fourth year, it was 25 Bitcoins every 10 minutes.
14:42: then four years later, and this is called the four year halving cycle, it goes down to 12.5 Bitcoins every 10 minutes.
14:49: Then it went down to, , six and a quarter of Bitcoins.
14:53: And recently, in April 2024 it went down to three and an eight.
14:59: And now, through this mechanism, , the miners have mined now approximately 20 million of all the Bitcoins that will ever exist, there will only ever be 21 million of them.
15:12: , and, , through this mechanism of a fixed supply, , the demand for Bitcoins has just continually gone up based upon people wanting to own their own money, people wanting to spend their own money and, most importantly, to protect themselves from the monetary policy of the central bank.
15:32: , they're devaluing your currency so every Fiat currency gets devalued to zero eventually.
15:38: , the the great British pound has been devalued ever since the Bank of England took it over by approximately 99%.
15:47: , the Federal Reserve has devalued people's dollars by approximately 95% by continually printing it, and, , Bitcoin relative to the dollar.
16:00: Because of this fixed monetary policy every year.
16:03: There's more and more people that want it and the supply and demand, is on a free market, so it's very, very volatile, and sometimes people want it.
16:12: Some people don't, , but historically, because of this four year cycle, it has outperformed every single asset in the world ever since it existed.
16:22: And so it's outperformed real estate.
16:24: It's outperformed the stock market.
16:26: It's outperformed every Fiat currency.
16:28: , and the reason for that is because when people are mining it, they're essentially contributing security to the network.
16:36: And what they do is all of these different miners are competing to mine.
16:42: At the moment, we've got 735 extra hashes.
16:47: , per Bitcoin.
16:48: What that means is that every second all of the computers all around the world, which exist in Russia, America, Iran, , China, South America, Central America, Europe, , all around the world, , whenever they're mining them, so it's completely geographically diversified.
17:11: Every 2nd, 733 quadrillion mass problems are being solved every single second , and that makes up the security of the network.
17:24: And so now Bitcoin is the largest, , distributed supercomputer that has ever existed that will ever exist in humankind.
17:36: , which means that if a government or a state actor wanted to try and take down their system, they'd have to try and control 50% of all those computers, and they would only be able to do it for about a 10 minute period.
17:50: And it would cost them billions of dollars, , to try and take down the network, which is why every government gave up.
17:57: And so, no, no government in the world, no matter who they are America, , or China can now take down Bitcoin from, you know, trying to overtake the miners and stuff like that.
18:11: There's one more piece of it just to complete the technical size is that, in order to keep it decentralised, we wanted everybody, , who runs what's called a node to create a backup of every single transaction that ever happens on the network.
18:30: , and so there's hundreds of thousands of nodes.
18:33: There's a reward you get.
18:34: If you run a node, it's a bit geeky.
18:36: As a process, you don't have to do it, But there's a reward cos you get to verify transactions on the network.
18:42: And so even if the Internet went down, you'd be able to actually verify your own transactions by running a note.
18:49: and there's hundreds of thousands of them, and each node agrees to just store a copy of every single transaction that's ever happened, , in Bitcoin and just store it.
19:01: And so now it's distributed across hundreds of thousands of node operators mined by the largest supercomputer in the world distributed across countries that, , don't get on.
19:15: And it's created the ability for everybody to be able to earn their own money, spend their own money and have a monetary policy that nobody in the world can ever change.
19:26: And so no developer can change it.
19:28: No company can change it.
19:30: No venture capitalist can change it.
19:32: No central bank can change it.
19:33: No bank can change it.
19:35: No government can change it.
19:36: No individual can change it.
19:38: No billionaire can change it.
19:39: No trillionaire can change it.
19:41: And so now it's become essentially a com, the the rarest, scarcest digital commodity that has ever existed.
19:52: , and that is, , that is Bitcoin.
19:54: And, , it allows you to exit yourself.
19:57: It's a peaceful protest against the Fiat currency system.
20:01: It's rewarded everybody.
20:03: That's, , you know, kind of simply just added to their position every month.
20:08: When you do that over a four year cycle, every single person in the world that has ever done that without speculating on it or doing stupid things has ended up wealthier than and than if they had invested in any other asset costs.
20:22: And that's never changed.
20:24: And so now we've hit 90,000 because, , countries around the world are now seeing that they could use it to free themselves from their central banks.
20:36: They could use it to free themselves from the oppression of the International Monetary Fund.
20:40: And so countries all around the world are now deciding that they wanna buy Bitcoin, , companies all around the world, we had a company like MicroStrategy.
20:52: They just simply bought Bitcoin for every, , you know, every month for four years.
20:58: And they did this with a public company and it became the most successful company.
21:03: It outperformed every single company on the Standard and Poor's 500.
21:07: The top 500 companies in America and so companies are now realising that they can get, , returns.
21:15: The banks tried to take us down many times They kept saying things like, Bitcoin's a scam.
21:20: Bitcoin's a Ponzi Bitcoin's a currency just for drug dealers.
21:24: , they even tried to create their own versions.
21:27: And, , they said, , Bitcoin's not important.
21:30: It's the technology Blockchain that's important.
21:33: And one by one, they all capitulated and to the point where they did a mass.
21:38: The Federal Reserve did a massive attack on our industry last year in cahoots with the S E C.
21:45: And they use plants like S B F from F T X.
21:49: , they used the Israeli shell company Ponzi schemes like Alex Mazin Celsius.
21:55: , they allowed them to steal loads of money from pensioners.
21:59: , and then they in a fell swoop, wiped out the industry, tried to shut down all the bank accounts of all the crypto companies, and these people like, , I was on a space with, , Mario and, , Peter Thiel came up on that space, and immediately he crashed Silicon Valley Bank on that space where he said everyone should withdraw their money.
22:21: And, , he got all of his portfolio companies to withdraw their money from Silicon Valley Bank.
22:27: , Silicon Valley Bank was one of the banks that was servicing the the crypto exchanges.
22:32: , And, , the government hiked rates, which, , crashed those banks.
22:39: , the the Fed and the FDIC use taxpayers' money to bail out and issue loans to all of the normal banks.
22:46: , JP.
22:47: Morgan got to take over some of those banks, and then they wiped out the four crypto friendly banks.
22:53: , Bill Ackman came up on the space a few days later, asked the government to guarantee the whole system.
22:59: , they co-ordinated, , an attack with the the feds, the S E C.
23:05: I remember that, Simon.
23:06: I was on the first.
23:07: I was.
23:08: That's where I think we first met.
23:10: This is, , pre pre October the seventh.
23:14: And by the way, Peter Thi is also the genocide.
23:16: Who is in charge of Palant?
23:18: That's slaughtering civilians, , in the Middle East and in Palestine as well.
23:22: Exactly.
23:23: He's creating the artificial intelligence that is determining what's the optimum amount of civilians we can kill in Palestine in order to get away with the genocide so that we can sell our genocide as a service and occupation as a service that can be deeply integrated with central bank digital currencies?
23:41: , as long as America fights Israel's war and allows them to rinse Silicon Valley and take all of that intelligence over to Israel, , so that they can become leaders in the artificial intelligence military industrial complex and when the dollar is no longer useful once they bankrupted the American economy, , then Israel and , by the fact that it took over the government through its, , a P A and political bribery.
24:08: , and also, , can control the Federal Reserve interest rates through being able to influence policy, , and also is managing to bankrupt the you by giving America all of its foreign policy spreading lies like there's weapons of mass destruction in Iraq.
24:30: , and, , it gets to bankrupt America.
24:33: And at the optimum moment, it chose Trump to be the next president of the United States.
24:40: And, , is now pushing down interest rates to make the economy look great.
24:45: It's, , bankrupting the US government, trying to get it to send as much money to Ukraine as much money to Israel.
24:53: And then, if they wanna take out Trump, if Trump doesn't play the game, , the Federal Reserve can rant in the economy.
25:00: If you look at the comments this week, , the the Federal Reserve chairman, Jerome Powell, he told Trump, and he told the press, You can't fire me.
25:10: Doesn't matter if Congress wants to fire.
25:13: Doesn't matter if anything, , we are above the law, and, , the Federal Reserve is essentially flexing, saying whatever trump does.
25:23: , But what he's not saying is that Congress can actually end the Fed, , which has been a long term policy of, , Ron Paul and Thomas Messi just introduced it into America.
25:34: And the reason he doesn't want you to know that is because, , the they have the American economy by the by the kunas.
25:44: And so if, , if if Jay Powell wants to take down the American economy, all it needs to do continue to lower rates.
25:51: And in the next two quarters, if Trump gets too aggressive, then they can just hike rates and they can rant on the whole economy.
25:59: Take down the American banking system.
26:01: And guess what?
26:02: All of those banks will just be bought by the shareholders of the Federal Reserve banks like JP.
26:07: Morgan and many European banks, , many of the even banks in Israel as well.
26:14: , and so the shareholders of the Federal Reserve get to essentially write America's monetary policy in favour of the banks and the government's cover up, as if they're helping the American economy as they're bankrupting it so , you know, you This is what happens when you can control monetary policy.
26:36: And so Bitcoin said, we don't trust humans.
26:39: , let's just write the rules into the code.
26:41: It's all maths and code, and nobody can change it.
26:44: And then as more and more people become wealthy by accumulating Bitcoin every month, I can't give you financial advice.
26:50: I can't promise that the price will continue to go up.
26:53: , but for the last 13 years, I've been telling everyone that would listen, , to own more Bitcoin this month than the previous month.
27:01: And, , as a result of that, I'm surrounded by many, many billionaires and many, many multimillionaires.
27:09: , that all been part of this industry that is now a 3D a a $3 trillion industry that was bootstrapped from virtually nothing.
27:18: And just an activist movement, bottom up movement, , for we, the people to take on the banks.
27:25: , and now we are where we are, where everyone Every year, more and more people discover that, , some people use it to speculate.
27:34: Those are the people that tend to never really change their financial position much.
27:39: , but The great thing is is that, you don't need to trade.
27:43: You don't need to worry what the price is.
27:45: You just can implement some simple, , habits, which is spend less than you earn.
27:50: Save the difference in Bitcoin.
27:52: Do that every month.
27:54: Earn more Bitcoin this month than the previous month.
27:57: Do that for four years, and obviously I there's a risk involved in that.
28:00: I can't tell you whether it will work again.
28:02: I can tell you that I still do it to this day.
28:05: and, and we've created a whole community of people that are completely freed from the shackles of debt of the Federal Reserve and the central banking cartel.
28:16: , and I'd like as many people as possible, , to own their own Bitcoin be able to spend their own Bitcoin, , and free themselves from the monetary policy and the debt slavery of the system.
28:29: And so that's what I've been doing since.
28:32: So another question Simon before you ask.
28:36: So, man really quick.
28:37: Before you ask that question, I want to tell the whole everyone in the space please hit the repost button.
28:41: Hit the favourite button.
28:42: Share this space as much as possible because it's being Deb boosted.
28:46: They don't want you guys to know the truth.
28:48: Want the central bankers to continue enslaving you, making you pay taxes, telling you report this report that if you miss $5 they'll send the envelope in the IRS saying you owe $5.
28:57: Meanwhile, they're scamming from the billions of dollars.
29:00: And this is, , definitely I I actually in Bitcoin for a while as well.
29:05: A lot of people who followed me from clubhouse been, like, four years straight buying the dips.
29:09: So, , and you know, Simon, I think is probably one of the most intelligent people I've heard in all those years.
29:14: So, , you know, thank you to the men for hosting this.
29:16: And Simon, like big time shout out to him as well.
29:19: I got a lot of questions.
29:20: , but I'm gonna wait till the end So guys hit that repost button.
29:23: Hit that share button, share this space We got about 300 people in here.
29:27: Let's get to about 100 repost also hit that like button to hit that heart button as well and favoured it.
29:33: So thank you guys again.
29:36: golden, my boy Morphy making back then if he's in bein in Bitcoin for four year dollar But we don't wanna start dollar dollar bills Bitcoin Bitcoin bills.
29:45: Simon, , quick question to you, , to link to the point in the top Like we know that the guys who control the banks, the guys who control the military industrial complex, they're all about the wall.
30:02: How will change into Bitcoin Stop that.
30:05: Or do you think it's just gonna be substituted where Bitcoin will be substituted for Fiat money, normal money for our regular listeners And then essentially, those fights those wars will continue for the exact same thing.
30:21: Please explain to your audience your theory of why think that going to Bitcoin will minimise the wa , warmongering industry?
30:30: Yeah.
30:30: So, , if you go through the history of war and if you look at, say, the American debt, if you look at what that $36 trillion of debt is, it was actually incurred since 1913 since the Federal Reserve came into existence prior to that.
30:49: And if you look at the American Civil wars, if you look at Independence Day 1776 these were all wars that were fought because the Bank of England was trying to take over America.
31:02: , and so the history of wars when you study the financing of wars, , has really been about, , usurers in the theological times.
31:13: , and, , Jesus Christ used to be upon him, Wanted to banish out the usurers.
31:18: , and, , if you look at empires like the Roman Empire , the Roman Empire, , Julius Caesar was assassinated, , by usurers and money changers that managed to get the Roman Empire into an average of 30% debt.
31:36: Even if you look at, , Britain's history, the Magna Carta was created, , because, , the usurers again, , which was illegal at the time based upon biblical beliefs and, , Islamic beliefs and, , even Jud Judaism Belief.
31:52: But, , Judaism had a little bit of a clause in the the version of the Torah that was preserved, , and that says that, , Jewish people can't, , lend user loans to each other, but they can to others that are non Jewish, the glens.
32:09: And so there is a Jewish history around.
32:13: And, , this anyone that will tell you the history you'll be called anti Semitic.
32:18: But, , this is just crap, , that the history of wartime financing, , and the history of central banking, , has been country struggle, , in order to raise finance to fight wars.
32:34: And so even the Magna Carta.
32:36: That was when, the you know, the we we got so much in debt.
32:41: , battle of Hastings.
32:44: And, , those that were lending the money actually got to fund both sides of wars.
32:50: And we ended up, , in Britain, where we had we had about 44% interest on debt.
32:56: And so the Magna Carta was actually a jet a debt jubilee to wipe out the debt and start again.
33:02: And this led to expulsions of, you know, the Jewish usurers at the time.
33:08: , and, , you can just look back at time and time again.
33:13: , you know, wealthy Jewish people have been able to get governments into debt.
33:19: , and, , there's been multiple expulsions as a result of that, and eventually the system was codified into the British economy.
33:30: , with the creation of the Bank of England, in 1694.
33:34: , and this set the model whereby they managed to persuade, , King William, , when they wanted to fund both sides of the French war and the British War, , and they persuaded the government that they could scam the people.
33:50: They introduced an income tax at this time in Britain.
33:54: And they could scam the people into, , believing that you have this bank that creates the money, and then they would limit.
34:02: Then they would keep lending it to the government.
34:05: , and then the government would pay interest on top of it, and then they could guarantee it by the income tax of the people, and then they would keep increasing tax as the interest got more and more burdensome.
34:19: , and then eventually, this led to the complete bankruptcy of the UK government.
34:25: , and the family that took over the Bank of England, the Rothschild family, , ended up, , deciding that they were gonna switch the power of the world.
34:35: , they decided to fund many different ideologies during World War One and World War two.
34:41: , the economy that was most insulated from the Rothschild family.
34:46: , was only France and Russia.
34:50: And so the Napoleonic wars were actually wars against the Rothschilds, where they maintained their own debt debt-free monetary system.
34:59: And this is why, , Napoleon actually ended up sending, , selling Louisiana for 3 million pounds to America because it didn't want to take a loan.
35:09: And it didn't wanna introduce, , a, , a Rothschild central bank into France and, , also Russia.
35:17: At that time, it had zero inflation.
35:20: The lowest tax rate 80 percent of the low of the the land was owned by the peasants and the people.
35:27: , it had full employment, and it had the largest gold reserve in the world.
35:34: , because it had a central banking system that was issuing money debt free and spending it on infrastructure and, , supporting its people.
35:44: , And so this is when, , the Rothschild family funded the Bolshevik Revolution, replaced the most successful economy in the world.
35:54: , Russia, , based upon a communist ideology and, , created the Soviet Union, which was a way of bankrupting and stealing all the gold from Russia, and, , they also at the same time, had two attempts at a central bank in America that led to the assassination and the set of multiple presidents.
36:16: It led to a few wars, , in order to get revenge.
36:20: And then eventually they got the Federal Reserve Act in 1913, and they pretended that they were gonna and basically they took over Constitutional America and replaced it with the debt based Ponzi scheme right now.
36:34: So the $36 trillion of debt , it was all war after war.
36:40: It was World War One.
36:42: then it was World War Two.
36:44: then it was the Cold War and all of the covert wars that were fought, , then it was the war on terror.
36:52: , it was also financial bailout.
36:54: So they managed to create a new scheme, which was every time the banks, the shareholders of the Fed, got themselves in financial trouble, , they would get the not only was in tax going up and up and up to service all the debt.
37:09: , they also managed to get it where the government would just simply print more money, borrow it and bail it out, which would cause massive inflation, which Ma, which created massive wealth inequality and led to the situation that we're that we're in today.
37:25: , and so that is the history of central banking.
37:28: There's many, many more.
37:29: If anyone wants to go down that route, , stories.
37:33: But that is the story of Of how it actually got here.
37:37: , And so what we found is that in order to keep the Ponzi scheme alive, you have to have more debt When you have to have more debt.
37:47: You can cover.
37:48: You can covertly coordinate.
37:50: You know, , takeover intelligence agencies that came from World War One and World War Two, like the CIA like MI-5 Like Massad, , and you can coordinate them to actually create wars, and then you can find both sides of those wars.
38:06: And so the bank of it people call about this concept called the Deep State, , is mainly the Bank of England, , the World Bank, the International Monetary Funds, the Federal Reserve, Israel as an outpost, , Mossad, MI-6 and the CIA.
38:24: And those are the the and also the Bank for International Settlements, which is a network that was created by Rothschild between World War One and World War two.
38:33: It was a bank to steal all the gold from Germany, create hyperinflation in Germany.
38:39: , and, , there was a resistance movement against that which led to Hitler's Nazi, , National Socialism.
38:47: , and, , lots of different things that were written after World War two to kind of change.
38:54: , the story of exactly what happened there.
38:57: but anyway, the the ba what?
39:01: It what?
39:01: It was the the the craters of these central banks were people that realised from both sides of the war, and then use political control because, , the famous Rothschild quote is if we control the money, we care not who writes the laws.
39:16: And so that's really an understanding of where we are today.
39:19: Why is Israel and Britain and America all coordinating in this genocide?
39:24: To act with impunity?
39:27: , is because those are the profits from more the military industrial complex.
39:33: And they created all these different schemes.
39:35: For example, they managed to create an organisation like BlackRock where they persuaded all of the money that's being pulled together from your pension contributions.
39:46: All of the money that's being poured into endowment funds, which is money laundering through colleges.
39:52: All of this money that's being poured together through everyone contributing to insurance premiums, , and create products whereby you would give up your voting rights.
40:02: They're called ETF s, and they would buy all the stocks for you.
40:06: And then BlackRock controls the voting rights of almost every single company in America.
40:13: And so now, through this scheme that started with the Fed, they control the monetary policy.
40:19: They control the voting right over every company.
40:22: , they profit from all of the the the war machine.
40:27: , all of the different military industrial complex stocks.
40:30: They can obfuscate money through foreign aid.
40:34: , they can send it back in order to bribe politicians.
40:37: They can pretend that there's a democracy, , and use intelligence agencies in the central banks in order to engage in non congressional, non parliamentary, , covert missions.
40:50: And then they get to use that in order to bribe politicians, great blackmail networks, massive racketeering, drug trafficking, human trafficking organisations, , control the banks that are able to launder all this money and make the world think that, , they're the beacons of peace and democracy as they overthrow governments around the world to get them addicted to their dollars.
41:13: And and the P used to be the pound.
41:15: Now the dollar, and so they force countries like Lebanon in order to, by doing covert military coups to take over their governments, force them to take on IMF loans, Then they're addicted to dollars.
41:30: , then they have to agree to implement the Central bank, which is a bank for international Settlements Network Bank, that then gives them control over the local monetary policy.
41:41: They print the money, which causes inflation to pay back the dollars.
41:45: This creates demand for dollars.
41:48: , and then you create this in insane mechanism where every country in the world is essentially lending money to the US government and propping up the demand for the dollar as it becomes a parasite where the countries can no longer invest in their own infrastructure.
42:06: , because they've got to pay down their dollar debt.
42:09: , and then they use that in order to change and coerce their governments, and it helps you just understand the world as it is today.
42:16: So how can you protest against that?
42:19: Well, exit the system when they print Fiat currency.
42:24: If you use it to buy Bitcoin, , then you have essentially boycotted the dollar, and so Bitcoin is a peaceful way of in a at an individual level, giving yourself personal freedom and also boycotting the dollar and de weaponizing them.
42:43: Now what's happening is because the system's imploding on itself.
42:47: So much inflation, so much wealth, inequality, so much civil unrest.
42:53: The governments are actually looking at How can they resist against these central banks?
42:58: And so, , that's where governments are now deciding.
43:02: They're boycotting the central banks in a small way.
43:06: , and a larger way now and they're accumulating Bitcoin, , and the more and more people that own Bitcoin, the more and more governments that accumulate it, the more and more countries that accumulate it, , there's the possibility that the central banking and Fiat currency system can implode on itself.
43:24: , and, , we can just simply restructure the economy, , and move to a more sustainable financial system, which is a deeper subject.
43:34: , but this was a completely deluded vision in 2011.
43:42: , but every single year it's getting more and more realistic.
43:46: And then when back BlackRock and the banks realised they couldn't beat us, , they decided that they wanted to acquire their own Bitcoin positions and because they can't control Bitcoin, they said, Why don't we create an ETF project product where, , you can get a tax break by buying Bitcoin from within your pension?
44:07: But you gotta buy it through us and you gotta hold the Bitcoin with us.
44:11: Now here's the really important point, and this will come into when more people come up and probably wanna talk about Ethereum and various other things.
44:19: , the difference with Bitcoin is the way that it's designed is that it doesn't give you a voting right in the network by owning Bitcoin, is completely decentralised.
44:29: So even if BlackRock owns Bitcoin, they don't get a voting right like they do with shares and, , other types of Blockchains that try to compete with Bitcoin.
44:39: , they do these things called proof of stake, which means that by owning it, you get a voting right in the network.
44:46: And so that mechanism is how these BLOCKCHAINS can be controlled.
44:51: And this is the the very same thing that protects Bitcoin , from BlackRock being able to control the network because they can't accumulate, , the voting rights in the network.
45:03: And it remains, , it remains decentralised.
45:06: And that kind of brings us to where we are now.
45:10: , So I think you could have more peace.
45:12: , because when it went the way it used to work when you had war, it won't take away all war.
45:19: But you you used to have to persuade people to buy war bonds.
45:23: And, , when you can't just print money to fund the war and covertly get people to pay it through inflation, , and increasing tax later and borrowing against your Children's future, you used to have to persuade people.
45:37: And when you have to persuade people to go to war, , if you look at, like Abraham Lincoln, the only war that he ever got funded, , was when he took back control of the monetary policy, , and try to persuade people to purchase war bonds.
45:54: And they only do that when they believe they're in a fight for struggle.
45:57: , for their country, as opposed to cover hidden wars that don't happen, , through Congress don't happen through Parliament that are funded through deceits all through inflation and all happening in a in a way where no one can understand it.
46:16: So I think it leads to more peace.
46:18: And essentially, it's the real definition of draining the swamp.
46:22: , is the real definition of being able to, , take back control and the good?
46:28: The good thing.
46:29: And the bad thing is, these Fiat currencies, they implode on themselves.
46:34: , there's been 740 Fiat currencies throughout history.
46:38: , and they are.
46:40: They lost an average of 27 years.
46:42: The longest lasting one was the great British pound, which still survives today.
46:46: And it lasted 350 years so far, and it's lost 99% of its value, so it becomes worthless.
46:54: Others were all replaced with, , the Rothschild controlled European Central Bank.
47:00: , so they end up getting replaced if you can agree to get countries to give up their monetary policy.
47:06: , and, , yeah, Bitcoin is escape velocity from that, , if you can't persuade your country to change, all countries kind of are capitulating and starting to be involved.
47:21: , but if you can't persuade your country, at least you can exit.
47:25: At least you can boycott.
47:27: And it comes with a whole lot of freedom.
47:29: So it's a beautiful place to be, and then we've got the time to be able to buy and engage in more meaningful things, like exposing, , the genocide that's happening right now and, , work on more meaningful things in life.
47:45: That's how it's worked out for me anyway.
47:49: Simon.
47:50: I'm gonna go to the questions.
47:51: Got on M.
47:52: It's got a lot of questions and Omar ws got his hand up.
47:55: Big guy is flying like What is it?
47:58: Is it gonna go above 100?
48:00: What's your thought?
48:01: I mean, it it it will definitely go above 100.
48:04: It's just a question of w Well, I can't say definite, because it's, I gonna be responsible.
48:09: , but yeah, I mean, we're we're very, very close to 100.
48:13: , and I think that there is so much adoption that's not even factored into the price right now.
48:21: , because now the governments are all getting involved.
48:24: , many corporations are looking to protect themselves and all of these finan that now have a regulatory regime to get involved.
48:33: You essentially get to front run.
48:35: , the government.
48:36: And that's why Bitcoin was beautiful.
48:39: , everybody got to front run.
48:40: It was, it was the activists that came in first.
48:44: , and it was the corporations that came in lost.
48:46: And now Wall Street's in, and then it will be sovereigns, and then eventually, central bank digital currencies get to prop up their currencies.
48:55: , by buying Bitcoin in the only asset that's digital and scarce, , that can exist today.
49:06: and, , let's go to m m.
49:08: You got any questions for Simon?
49:09: Because then I've got we've got a few more gonna redirect it a little bit.
49:12: , yeah, I got one question.
49:14: And before I ask you guys, I just wanted to remind you basically to hit the repost button retweet button, favourite button, heart button, , share this space as much as possible because, you know, the the central bankers never want you to do this.
49:26: The money changers, the controllers, basically the a PE c, these lobbies, all of it is all tied together, right?
49:32: And they they I do not want you to know this.
49:34: That's why I believe the views aren't like they typically are because they want you to stay broken.
49:38: They want you to stay in this Fiat cash.
49:40: They want you to continue losing value.
49:41: They do not want you to be investing.
49:43: They want you to own nothing and be happy.
49:44: So, , make sure to repost this space to make as many people as aware as possible, because that is truly the freedom.
49:50: I believe the the path to freedom at the end of the day, you know, these these genocidal enemies against humanity, they use money to control.
49:58: And if that could change, that's the I think, in my opinion, the biggest, , way to freedom, especially for humanity.
50:04: So make sure to hit the repost.
50:06: Also, Simon.
50:07: He's been crushing it.
50:07: I think he's nailed pretty much every point that you would want to hear from a beginner.
50:11: Now, my next question would be right, because right now I believe it's gonna definitely smash through 100,000 based off what I'm seeing on the charts.
50:17: , I I also charted this, actually, I think, like about a year ago, when I was around 30,000, I said if it broke 40,000, it would skyrocket, which is done as well.
50:25: But I believe Simon, like for the beginners, right?
50:27: For the people listening, looking at this, they might be thinking, Man, this is kind of high, right?
50:32: So, like, should I should I invest now or should I wait later or, , you know, because you said Wall Street is coming in too, right?
50:38: So, like a lot of people coming in might kind of be a bit Look at that 91,000 where it's at right now and kind of be a little bit intimidated.
50:46: So I guess, What would your tips be for them?
50:48: Yeah, sure.
50:48: All right.
50:49: So talking price.
50:51: So, firstly, I just buy every month.
50:53: , and regardless of what the price is, and so that is something that anyone can do, , you'll always feel like it's more expensive.
51:02: I remember when it got to $10 everyone thought, That's it.
51:06: It's too late.
51:07: I've missed the boat.
51:08: Same with $100.
51:09: Same with, , $1000.
51:11: Same with $10,000.
51:12: Same with $100,000.
51:14: , but again, I can't give you financial advice.
51:17: I can't predict the price, but what I can do is I can look at what historically has happened.
51:23: And if you look at the chart of Bitcoin and you go to somewhere like coin market cap, click on click on Bitcoin and click on all, , you will see a repeatable pattern that happens around the four year cycle and because of the way that Bitcoin was designed, , what we have seen is that remember that halving.
51:43: So that halving happened in April this year.
51:48: And what normally happens is six months after halving.
51:52: , you end up with a sideways downward market.
51:55: This is what happens historically in every cycle, , in this cycle, because the ETF was approved and BlackRock and everyone were trying to get in.
52:06: , we ended up over extending that cycle, and then we crashed a little bit back down.
52:13: And historically, in October, we've always had this pump, and then it carries on to November.
52:19: And then in December, it gets a little bit quieter, and then you have an approximately one year bull market.
52:27: , and then you end up with some kind of regulatory crackdown or systemic risk event that creps it, and that tends to last for about six months to a year.
52:38: so the, if the historical pattern prevails and that's a big if, then the peak of this cycle should be approximately $400,000.
52:52: And so there is still, , based upon previous patterns, and it has done it four times, and I don't expect it to not do it for 1/5 time.
53:03: , because Bitcoin has never been more likely to succeed than today.
53:08: , And the announcement when Trump won was that, , Trump wants to implement a strategic reserve for America.
53:18: And there is a bill in called, , the Bitcoin Act, which was introduced by Cynthia Luis Loomis.
53:26: , and in that bill, she wants to, over the next four years, accumulate a million Bitcoin for America.
53:33: , and if that happens, , then bricks will probably make it one of the conditions to, , mint units in the brics currency to be able to have some of it backed by Bitcoin.
53:48: , we are about to get, I think probably this week or next week.
53:52: , some major Middle Eastern payer players that are gonna be announcing their Bitcoin strategic reserve.
53:59: , Russia just unbanned Bitcoin mining on November the first, and China currently hashes about 20% of the Bitcoin.
54:08: I believe that China has been acquiring its sovereign strategic reserves and is likely to capitulate again and open up the market again, , within China.
54:19: And I think that there is gonna be a massive race around the world from sovereign countries to make sure either America does it and they get the Bitcoin strategic reserve and lead the way after El Salvador APP proved the strategy.
54:37: , or they don't do it.
54:38: And the Global South can design their new BRICs financial system, integrate it with Bitcoin and be able to flip the economy.
54:47: , by doing it before America.
54:49: There is a complete race around the world by sovereign nations, , to accumulate Bitcoin, , and be able to essentially hedge himself from any currency failures or central banking failures, , within their country.
55:07: so I think there's a lot further to go a lot further to go.
55:16: Let's go to Mar Mar.
55:18: Do you remember the question?
55:21: I I have a question, but I just wanna make some comment for comments first, about Bitcoin Really quickly.
55:26: , you know, if you look at the money pyramid, you have gold at the top, which is true money, and then you have a dollar which used to be defined as a promise on gold.
55:36: And then you have your bank account, which is a promise for actual dollars credit.
55:40: And then you have derivatives in the stock market and stuff like that, and Bitcoin, you know, if you think about that, is gold or it's as good as gold.
55:49: So that's one thing that I wanted to mention.
55:51: Another thing that I wanted to mention is if you look at our current system, it always falls into centralising it to get over friction.
56:00: You know, everyone needs to send money to each other.
56:02: They go to a bank.
56:03: Banks need to send money to each other.
56:04: You get regional banks.
56:06: Regional banks all go to the central bank right now of the United States of America.
56:10: Bitcoin also solves that issue because you don't need any banks.
56:12: It's a decentralised ledger, so it solves these two huge issues and I think that's really important to address.
56:19: And the third thing that I wanted to say that, Simon said, which was a good point was that every war is basically who can rug pull their economy the best if you look at World War one.
56:28: The UK had the strongest economy.
56:30: They had the strongest currency at the time, and they won that war because they basically just rug pulled and printed a bunch of money and they fell.
56:38: They lost their throne.
56:40: America is the most powerful country in the world.
56:42: We used to have the best economy.
56:44: We just got out of the golden Age and we purged our country as well.
56:47: These people, they come, they purge economies, they steal people's wealth.
56:50: And the system that we have a Fiat currency is inherently responsible.
56:54: You know, America before 1972.
56:57: And you know, even I guess if you count that anyways, before 1972 in the Golden Age, they used to be a nation of frugal savers and or frugal , spenders and savers, and they were very responsible, and societies used to much better back then.
57:14: And that was because the currency allowed for that because your savings went up over time and stuff like this Same thing with Bitcoin because it was fixed.
57:20: And now we're a nation of reckless spenders and gamblers and, you know, you see the crypto market besides Bitcoin and all of these meme coins, and that's because the money system is inherently responsible.
57:31: And my question Simon is, , what do you think about the the majority of Bitcoin being bought, like on the stock market or stuff like that and kind of that centralization of Wall Street and the leverage that's involved?
57:44: Do you think there's any risk, , of that, like affecting the price or the legitimacy of it?
57:50: Maybe.
57:51: Like if if that bubble were to pop and do you think there's a bubble at all and just address that point?
57:58: Yeah, sure.
57:58: So, the, Firstly, there's no risk of them controlling the network.
58:06: , because at the moment they're owning it in custody, which means that it's, , holding it for another client.
58:14: And the only reason that that was incredibly valuable for them with the shares is cos they got the voting rights.
58:20: They don't get that with Bitcoin.
58:22: , And so at the moment, all of the Bitcoin that they own is being owned, , stored for them on behalf of other clients.
58:29: So by law, they're not allowed to use it.
58:32: , now they may create versions of ETF s that allow them to leverage client Bitcoin.
58:38: And at the moment you've got, , so there's been 20 million Bitcoin mined.
58:44: I would estimate that 44 to 5 million of them have been lost.
58:49: And so those are never coming back, cos people have lost their key or they didn't value it in the beginning, or they passed away without an inheritance.
58:57: Ban, like a lot of Bitcoin will just never move.
59:01: , a million of it was mined by whoever Satoshi Nakamoto is, which I believe, has passed away, and the key will never be retrieved again.
59:10: , and then you've got sovereign countries.
59:13: So America, , confiscated about 200,000 from Silk Road.
59:17: , by the way, Trump said he would free Ross Ulbricht, , which was an early Bitcoin that created, , the Silk Road website that the government ended up seizing all those Bitcoins , Bulgaria ended up with 200 that they stole and seized from a criminal network.
59:35: , and then suddenly they disappeared from Bulgaria because they never declared them or published the wallet address.
59:41: , UK owns, I think about 70,000 Bitcoin , China is undisclosed.
59:47: So you've got, like, about a millionaire.
59:50: You've got another million, , with, , BlackRock and all The ETF s micro strategy has control, , owns about 250,000, and then you've got another, probably millions to 2 million held on exchanges and with custodians, and then you've still got about, you know, 6 to 8 million Bitcoin that are held in self custody.
1:00:13: So at the moment, the vast majority of Bitcoins are held in self custody.
1:00:18: But the financial institutions will certainly try and persuade you to own and store your Bitcoin with them.
1:00:25: and in fact, they'll give you tax incentives.
1:00:27: , and even if we have historical, , if we look at history in 1933 the they actually confiscated and forced everyone to hand in their golden, , self custody, , and exchange it for a Federal Reserve note for $20.
1:00:47: Bitcoins.
1:00:47: Sorry, not Bitcoin Gold's approximately 2600 plus dollars now, but you had to sell it and hand it over for money that they printed cos they wanted your gold.
1:00:57: Guess what?
1:00:58: That was stolen from the American people and it was meant to be owned by Treasury.
1:01:04: And it turns out, the last time the the audit on Treasury was done, there's no gold there because the Federal Reserve has used it all for collateral.
1:01:13: So all the gold that was stolen from the British colonialism in the change of power, the Russian gold, the German gold, that was all, , transferred over to America.
1:01:25: It's now all controlled by the Fed and is stored in, , institutions that mainly go back to Rothschild in London and Switzerland and various other things.
1:01:36: Anyway, , so will they try and manipulate it?
1:01:40: Yes, short term.
1:01:42: That's how this industry works.
1:01:44: And their goal is to persuade you to sell your Bitcoin because they can control certain aspects of the short term price, and they will use every trick under the sun to get you to sell your Bitcoin.
1:01:56: But in Bitcoin, we have something called a Hodler of last resort.
1:01:59: We've got educated people that understand if I buy dollars with my Bitcoin, which is what selling Bitcoin means.
1:02:08: Then I'm exchanging the hardest form of scarcest money for something that the Federal Reserve will just print and loses all of this value.
1:02:17: It takes people approximately four years of accumulating every month to get that within their psyche.
1:02:23: A lot of the Bitcoin community gets that and the V, the vast majority of wealthy people will never sell their Bitcoin unless they need to make a purchase, and they'll just take down a little bit of it.
1:02:35: , so it is a fight between self custody and custody.
1:02:40: They want you to own your Bitcoin with them, and they would like to control it.
1:02:44: , you can own your own Bitcoin, and this is a generational thing as well we need.
1:02:50: The younger people are holding them in self custody.
1:02:53: You know, the old people that made money from the Federal Reserve system because they ended up with real estate and stocks that went up, and they borrowed so heavily against their Children's future.
1:03:05: Their Children, when they inherit those assets, are likely to want to sell them and buy Bitcoin, and they'll hold them in self custody.
1:03:12: So the skill of self custody is a vital part of the resistance against the occupation by central banks.
1:03:19: And that's why I'm so passionate about everybody learning it not getting lazy.
1:03:22: Don't leave it on an exchange.
1:03:24: , because when you leave it on an exchange companies like F, T X and S P F and implants from Gary Ginzler in the S E.
1:03:31: C.
1:03:33: , you know, they ended up using your Bitcoin that didn't exist and losing it all for you.
1:03:39: and the constituents will use it to manipulate the price.
1:03:41: Short-term.
1:03:43: But long-term, this is the rarest asset, and they'll get wrecked if they try and short this and manipulate it in the long-term cos the price will prevail.
1:03:53: What?
1:03:53: What protection does, does, , Bitcoin have, like what software protection does Bitcoin have at the moment?
1:04:02: Sha two 56 b algorithm code?
1:04:05: And why wait?
1:04:05: Turn man, there's there's hands.
1:04:08: Yeah.
1:04:08: Could I just respond really quick, Simon?
1:04:10: , another thing.
1:04:12: You know, I don't know if this question is gonna come because the people on the panel probably won't ask for for the audience, this thing a concern for me.
1:04:17: Used to be, you know, these big wallets that own a lot of Bitcoin.
1:04:21: , but the the nature of Bitcoin being fixed means that if those big wallets wanted to ever sell that take profits, try and manipulate the price, they would not, it would they would sell them.
1:04:31: And then it would naturally go to other people and they can't make anymore.
1:04:34: And every time Bitcoin pumps and dumps and people are scared about this volatility, the reason that Simon is saying it will go up and stabilise is because these pumps and dumps more people get in.
1:04:44: , the the price ca crashes, the big walls take their profits, and it goes to the small people that just got in or the other people like me and you that are just buying.
1:04:52: , so the nature of this, that curve that you always see of it.
1:04:55: Projection project projecting.
1:04:57: That's what that is.
1:04:59: , so I just wanted to put that in there.
1:05:01: Thank you, Simon.
1:05:03: So let's go to, , ask Brother Omar.
1:05:06: How you doing, brother Omar, You're good.
1:05:09: and are you a bit as well.
1:05:12: No, no, no.
1:05:13: , I look, I I don't really know a lot about, you know, the Cryptocurrency.
1:05:19: So I had a question for Simon.
1:05:21: , Simon, you know, for for for an economy to thrive, you need just the right amount of currency, right?
1:05:28: If you have too low of it, then the economic activity, you know, just just suffocates.
1:05:33: And if you have too much of it, then you have hyperinflation.
1:05:37: , so that's when that's where you know the central banks or the federal reserves come in.
1:05:43: They they, you know, , regulate things to make sure you, you know, your currency isn't crushing and you don't have deflation or inflation, and there is nobody regulating Bitcoin, so deflation.
1:05:58: So do you like this?
1:06:01: Makes me sound.
1:06:02: I mean, you know, like, I I look at it from a you know s suspicion, , perspective.
1:06:11: Like how?
1:06:12: How would this work out in the long term?
1:06:14: Like, there's nobody, you know, generating it.
1:06:16: It, how do you think it would help the economy or W Would it?
1:06:21: Oh, I Because the last thing we want to be doing is, , what happened to that wear republic?
1:06:27: You know, in Germany, hyper inflation and all that.
1:06:31: So that's that's what makes him paranoid about inflation in republic.
1:06:38: OK, I don't want to go down to the Jews did it because it wasn't.
1:06:43: No, they didn't do it.
1:06:44: That's true.
1:06:48: you'll be more OK.
1:06:49: I'm not doing the Jews Did it thing I it's it's because of the government.
1:06:59: in.
1:07:01: I'm Sorry.
1:07:08: One second.
1:07:09: One second.
1:07:09: One second.
1:07:10: , Brother, I'm so sorry to interrupt you.
1:07:11: I'll give you the MP Soleiman.
1:07:12: It's saying you're having connection issues again.
1:07:15: , it's literally saying is having connection issues.
1:07:17: So, sorry, brother, I No, no.
1:07:21: I just to repulse the space.
1:07:23: I just had a question for Simon.
1:07:25: Like, how would Cryptocurrency, you know, , help the economy or not help the economy apart from, you know, taking control away from the central banks.
1:07:35: OK, awesome question.
1:07:36: , so much of what you know about economics.
1:07:40: , I studied economics up to master's level and realised that the whole thing was propaganda in Hezb when I actually studied.
1:07:47: How, , economics actually works.
1:07:50: And the economics they don't want you to know.
1:07:53: , the economics they don't want you to know.
1:07:57: There's two types of economics they don't want you to know, and they they will be a psych class or they just won't teach you at all.
1:08:03: One is more capitalist, which is Austrian economics.
1:08:07: Austrian economics works off a principle of a wealth effect where if people get wealthy, then they spend more, , rather than making them broke so that they borrow more.
1:08:19: That's called Keynesian economics.
1:08:22: And so the what they teach you in traditional economics, which is indoctrinated every central banker that worked.
1:08:30: thanks is Keynesian economics, which was the designer of the Bretton Woods system.
1:08:37: And it scammed people into believing that you need to have government borrow money from the Federal Reserve, which is a network of private banks.
1:08:48: The other thing they won't teach you is things like National socialism, which is where a government prints its own money and spends it based upon infrastructure with no debt.
1:09:01: , this is what the Lebanese economy did after 2019, , with the gold backed, , , micro loans that they, implemented as soon as everyone's savings was destroyed.
1:09:14: And so what the EC economics doesn't want to teach you is that you think that it's the government that's creating the money, but it's actually the central bank that's creating the money.
1:09:24: And they're saying to the government, You have to borrow it from us and factor in interest, and the private banks get to create it and incur in interest.
1:09:33: And then we just create as much money as we can lend and you will borrow, which creates debt into the economy and then devalues the currency and takes you deeper and deeper into debt.
1:09:45: And so the way that the system is designed is it's not regulated.
1:09:50: The Federal Reserve is simply a private organisation that works for its shareholders, and its shareholders are the private banks, and the private banks wanna issue as much debt as possible.
1:10:01: And the easiest way to get debt is to, , get the government deep into debt, which is why we have the economy that we have right now.
1:10:09: , and as long as you can keep the Ponzi scheme going, I e, , people will borrow, , or lend more to the US government.
1:10:18: Then you create more wealth and equality, and the assets end up in the hands of fewer and fewer people.
1:10:24: And the central bank, as the lender of last resort, gets to bankrupt the government until we have another cycle, , 100 year cycle where you destroy an empire That's the history of the world.
1:10:36: And Fiat currencies, time and time again.
1:10:38: The British Empire was destroyed that way.
1:10:41: , the American Empire will be destroyed that way.
1:10:44: , and those are the the Fiat currency systems.
1:10:47: So what is Bitcoin?
1:10:48: Bitcoin is regulated by mass and code.
1:10:51: What that means is it open source code and the open source codes that if anyone can read code and you can find someone that will do it for you, or you can go and actually go to the github Repo where the where the code is stored, it will tell you exactly how the monetary policy works.
1:11:08: And it is backed by the largest distributed supercomputer in the world where if you ever tried to, , store a phoney version of a Bitcoin record, , then you would be punished.
1:11:23: And you would be, , automatically kicked out of the network, where you spend a load of money on electricity and equipment that can't generate any Bitcoin.
1:11:31: So the answer is, the monetary policy never changes.
1:11:35: , it cannot change.
1:11:37: There is no one in the world that can change it.
1:11:39: And there is, , and it can be enforced by mass and code and the security of, , the the supercomputer now in society , there's something called Gresham's Law and Gresham Law states that when you are deciding how to spend your money, you spend money that you think will go down in value, and you keep money that you think will go up in value.
1:12:04: And this is kind of a cornerstone of time preference and Austrian economics.
1:12:09: And so most people tend to save their Bitcoin, , and spend Fiat currency.
1:12:15: And so one of the things that the Bitcoin community innovated, was a way of creating Fiat currency without a bank in the middle.
1:12:26: And there's these things called stablecoins, and basically stable coins were basically were like digital dollars and digital pounds and digital euros that require no bank in the middle.
1:12:38: , and, , essentially backed by, , borrowing, , Treasuries and loans to governments as well.
1:12:47: And so this is actually creating a bit of an attack on the fractional reserve banking system by giving people these stable coins which are full reserve auditable, , and you can have both the Fiat currency and Bitcoin within the system.
1:13:03: Here's the Here's the trick that people don't want you to know the very same thing.
1:13:08: The currency that you would be spending and the technology or currency that you would be saving in are actually normally two different things.
1:13:17: But people are so used to saving in Fiat currencies, and then they end up buying real estate and buying stocks and stuff to try and beat inflation.
1:13:27: Actually, Bitcoin is savings technology, and stablecoins is spending technology.
1:13:34: And Fiat currency is spending it, , spending technology.
1:13:38: , so you can completely have a two tiered world just like we had gold.
1:13:43: And what do central banks do?
1:13:45: They print their own currency because they know it will go down in value, and then they buy gold because they believe it will store value.
1:13:54: And so if the central bank is not even willing to hold their own shitty currency, what does that tell you?
1:14:01: That actually, the things you should save in the currency you should save in is different from the currency you should spend.
1:14:08: , and, , Austrian economics believes in what's called a wealth effect where you spend more.
1:14:14: I know it works for me.
1:14:15: When I was deep in debt and broke, I didn't spend very much because I was too busy servicing the debt and all of my income went to the bank.
1:14:23: , when Bitcoin changed my financial position, I was spending a much lower percentage of my wealth, but I was spending a heck of a lot more than I could ever spend when I was just servicing the debt of the bank.
1:14:37: So the debt based monetary system, the Fiat currency system, is a way of tricking people into believing that they need to go deeper into debt in order to service the banks.
1:14:48: And then they skim off all the profits, which creates wealth, inequality and wealth.
1:14:52: Inequality creates the situation that we're in now, which is where people go to the extreme left because they still feel so shafted by the system that they want the government to look after them and the people on the right.
1:15:04: They benefited from the system so much that they start to bribe through, lobby and change laws control laws in order to protect themselves.
1:15:13: And once the wealthy earn too much, it always ends in a civil war.
1:15:17: Once you have a civil war or a revolution, an external force comes along and sets a new world order.
1:15:24: That's the history of time.
1:15:26: And, , the very same people that created these central banks benefited from the fall of the British empire will benefit from the fall of the American Empire and will most likely be the same people creating a central bank digital currency from Israel based upon artificial intelligence.
1:15:46: Simon.
1:15:47: Just a quick one.
1:15:47: Check your DS.
1:15:51: and I like to jump in.
1:15:55: , one second, , we'll come to you in a second, if that's alright, Jake, , it directly addresses Skip the previous question.
1:16:03: So I My name is Jake Scanlan.
1:16:07: I abhorrently focus on Bitcoin as a unit of account as my sort of research direction.
1:16:12: And the previous question sort of was this concern about, you know, the current system having this element of credit expansion as the way to solve all problems.
1:16:21: And it's obviously not because it thieves away from everyone's value of money.
1:16:25: And with Bitcoin, , my innate focus is that it's convertibility with electricity, and the Bitcoin offers energy expansion instead of credit expansion.
1:16:37: It offers, , energy prices instead of interest rates.
1:16:41: And the friction and freedom Society is obviously interest rates, and that's what's going to translate into the physical world on the energy side.
1:16:48: And the reason for that is, you know, if Bitcoin goes up, we see hash rate goes up and what is hash rate?
1:16:52: It's compute being produced by energy.
1:16:55: And if people are, , aware people, miners will sell the power back to the grid or back to anyone when they can offer a higher return by selling the power instead of consuming it into Bitcoin and that convertibility of buy energy low, sell it high.
1:17:11: That's one way But the arbitrage goes both ways.
1:17:14: And what that does is create the the future conversion for, you know, energy expansion.
1:17:20: Is that incentive to build the network from the infrastructure level and lower energy prices forever?
1:17:26: 20 never 20.
1:17:28: and that is exactly what addresses the, , credit expansion issue that if you know, if we need food, we need cheap energy.
1:17:37: We wanna we wanna move anywhere on this planet.
1:17:40: We need energy.
1:17:41: Everything comes back to the original exchange rate of Bitcoin, which is Bitcoin to Kilowatt.
1:17:46: And yeah, that's that's that.
1:17:49: That basically addresses the the the the concern of having this this central system where a group of people sit there and decide what the interest rate will be.
1:18:01: , Bitcoin automates it.
1:18:02: There's compute supply and compute demand.
1:18:06: Which is you paying transaction fees.
1:18:07: That is the first one and only current Bitcoin unit of account.
1:18:11: We are paying for data settlement on a decentralised system which records the information online forever.
1:18:19: The next one, the next Bitcoin unit of account, is going to be electricity.
1:18:23: It's already happening.
1:18:24: The miners are selling the power when they can, when they can make a higher return, and the third one will be compute, which is what I focus on, and that was my thoughts.
1:18:34: But by the way, Omar, just another quick point and I'll make it really fast.
1:18:37: The Federal Reserve was created, and they were supposed to and the money supply when the economy was bad and expand it when it was going good.
1:18:44: And now they do the opposite, you know, they they can't manage money.
1:18:47: And when you have a government managing the money, that's monopoly on money.
1:18:51: The whole point of a good money, , is that it's unbiased and decentralised, and that's what Bitcoin is, and that's that's what gold is supposed to be.
1:18:59: You know, it's a moral hazard, and that's really important, you know?
1:19:02: And why more Germany?
1:19:03: Yeah, that was because of government.
1:19:04: You know, it's not Bitcoin is the opposite of that.
1:19:06: It's not not inflationary.
1:19:08: It's deflationary, you know, And we know the nature of Bitcoin.
1:19:11: You know, when you talk about I'm scared of inflation, deflation.
1:19:13: We know that since it's a fixed money supply, it's naturally deflationary.
1:19:17: And that's the government that imposed a central bank debt that Germany had to pay back.
1:19:22: OK, that wasn't a government.
1:19:24: so just a quick guys, quick one.
1:19:26: a quick announcement.
1:19:28: I gotta do a bit of shilling bars.
1:19:30: You know how it is.
1:19:32: So listen, as you know, your boy has been cancelled.
1:19:38: They've been trying to take him out, and so what did he do?
1:19:42: And I gotta tell you, there's some big news coming about some deep state attack against me.
1:19:45: I'm not allowed to say it right now due to legal advice or whatever it is right, but listen.
1:19:52: separate to that.
1:19:53: Your boy has been travelling the world and he found some crypto nerds, some big ex binance guys.
1:20:02: And we've built a new company.
1:20:03: So I've got to show that for a second.
1:20:05: Right?
1:20:05: So we've built a new company, and we're taking over.
1:20:08: The new company is in crypto.
1:20:11: It is, , called Insignia Capital, where we will be doing O T.
1:20:16: C deals where we're we're already doing it.
1:20:18: We've already done so many big projects already.
1:20:20: We're doing incubation acceleration on projects.
1:20:24: They're going down really well.
1:20:26: And we are also doing Twitter spaces as well.
1:20:29: So all of those things are going down.
1:20:31: So hit me up.
1:20:32: Anybody who is interested now, Although we've already got, like, loads of people who are interested, it's going really well.
1:20:38: These B guys, man, they're like, so nerdy.
1:20:41: They know everything about it.
1:20:42: They're literally smashing these projects so good.
1:20:44: and so that's going really well.
1:20:47: So now based on that, guys, I have got someone on the stage.
1:20:51: I'm gonna just ask him a few questions.
1:20:53: He's called G g s.
1:20:55: Only now this ain't our boy, g G.
1:20:58: That he's a totally different guy.
1:21:00: So don't get confused with my Ma man.
1:21:02: G g.
1:21:03: But G g s help.
1:21:05: I mean, first of all, I appreciate you coming on the space, and this is something I wanna get into with Simon.
1:21:10: And once we've finished, , this segment or if not, if we get another opportunity with Simon late or whatever, whatever Simon prefers.
1:21:17: But, I mean, we've got CR, we've got Bitcoin, and obviously we've got these alternative coins, like we've got ethereum it.
1:21:24: Three of them also is flying is something I wanted to get into with.
1:21:27: , Simon Salam is flying as well.
1:21:30: That's something else I wanted to get into with, , Simon, because I wanted to see what his views are on this.
1:21:35: But we've also got meme coins.
1:21:37: And I'll be honest with you.
1:21:37: A man does dabble in a bit of meme coins.
1:21:40: I know Simon don't like it.
1:21:41: Simon hates it.
1:21:42: He's like, what are these meme coins all about?
1:21:44: It's all about the Bitcoins.
1:21:45: Bitcoins is where life is.
1:21:47: I think that's what he's gonna say.
1:21:48: We're gonna ask Simon after this bit, but Gigi s you, I hear that you specialised in meme coins and one of the and were one of the earliest advocates for Nero, which is now at a billion dollar market Cup and is listed at Binance Share with us, your experience in terms of from A.
1:22:08: We've heard it from a Bitcoin perspective, but from a mean coin perspective and, , and it's linked to the space.
1:22:15: Yeah.
1:22:16: Hey, guys.
1:22:17: Hey, , thanks for the cool introduction.
1:22:19: First of all, I didn't know that Simon wasn't in any meme coins.
1:22:22: I thought I saw him on a new launch on pump dot fin on Solana.
1:22:27: , but could have definitely known me.
1:22:29: Definitely.
1:22:31: It's probably probably an off account.
1:22:32: I'll just play it.
1:22:34: , no, but happy to be here, Guys like, , yeah, obviously, , I've been listening in for a bit, and so that's cool to hear.
1:22:40: This is obviously, you know, meme coville.
1:22:42: So this is like the DJ side of everyone.
1:22:44: It's like the filthy inness of everyone that you you're just like too.
1:22:49: , you're you.
1:22:50: You're like, you don't want to admit it, but everyone is doing it.
1:22:53: So I'm just gonna go out there and say it like I'm blindly aping everything like the dirtier The the ticker is the the more I'm aping like that's where I'm at.
1:23:03: Obviously no financial advice.
1:23:05: Guys, I don't know anything about the space.
1:23:07: , but I do know a thing or two about culture And what do you What do you mean by aping?
1:23:12: Oh, aping.
1:23:13: Yeah, You see?
1:23:13: OK, now, I need to moderate my language here.
1:23:15: I'm sorry.
1:23:16: So let me let me go a little bit more professional guys.
1:23:20: No.
1:23:21: So aping basically, is a term when you just like you Don't you do zero fundamental research.
1:23:26: You see a ticker trending on these new point that, you know, deck, screen or deck tools, and then you just click on their main page.
1:23:33: You check the chart.
1:23:34: The chart is just going up.
1:23:35: So the lo, the quicker the chart goes up, the less time you have to do research.
1:23:40: So what you do is that you decide to ape because you see the ticker, you see the meme, you see the chart going up.
1:23:47: So when you just ape you basically a so zero fundamental research you just a That's basically the terminology there.
1:23:55: So yeah, but don't do that, guys.
1:23:56: That's that's like non financial advice.
1:23:58: That's not that.
1:23:59: That will definitely not make you money in the long haul.
1:24:01: But I actually I actually forgot your question, bro.
1:24:05: What was your question?
1:24:08: , just give us your experience in the meme coin.
1:24:11: So like Simon explained it from Bitcoin and he talked about the history of Bitcoin.
1:24:16: And actually, everyone got an understanding of how Bitcoin can be alternative to a Fiat currency.
1:24:21: I know with meme, coin is totally different.
1:24:22: It's nothing like that.
1:24:23: But just give knowledge just so they get so the audience get a difference between, like, a Bitcoin Bitcoin and like a meme coin.
1:24:29: And what What your experience is in that field 100 100%.
1:24:31: That's a good question.
1:24:32: So, yeah, my experience in the space.
1:24:35: I've been here since 2017, very actively since 20 21st of all started like BT CE and then, like everyone else or many dabbled down to the more risky side of things and got into meme coins got wrecked like everyone else but stuck around in this bear market.
1:24:50: That was and then, since 2021 have been specialising in me coins, I've I've found out that this even in this crypto space, which is a rabbit hole, there is so many things you can learn Many sectors, all coins, lay ones, , defi and all these stuff and then obviously meme coins.
1:25:06: So I've taken a path, , is to specialise in meme coins.
1:25:10: It's obviously the most, , on the right side of the risk are very much risk involved.
1:25:15: Many scams.
1:25:15: It's very filthy space.
1:25:17: But also in this space, there are some projects that you know a lot of meme coins are top 10, top 20 top 30 top 50.
1:25:24: And it's like I I've taken it upon myself to study its relevancy and and kind of see, because me coins in this cycle does have a bigger standing than it did the prior cycle that all steps are showing to that.
1:25:37: And, , we've also seen, , a shift in In people's mindset, we're seeing, , CEO s.
1:25:43: We're seeing, , you know, like the founder of Solana Raza Natoli were seeing like others are are actually, you know, actively almost promoting meme coins because it's a source of tool and tool for on boarding people normies and adoption and then holders and volumes to their respective chains.
1:25:59: , so essentially meme coins.
1:26:02: , I have come to realise that this cycle they have completely I don't wanna say changed the game, but they have changed in a sense, their role in this space and many, many people are now starting to actually.
1:26:19: So let me give an example of a meme coin.
1:26:21: A meme coin.
1:26:22: A successful one is like an influencer, a tiktoker or a youtuber that in the beginning makes zero revenue zero cash flow, zero anything but just grows.
1:26:30: A lot of followers, a lot of holders, same like a meme coin.
1:26:34: They grow their audience.
1:26:35: They get hundreds and thousands of viewers everything.
1:26:38: But they don't have any real, , utility or in, in that case, any revenue.
1:26:45: But then the brands around in this case, Web three projects are seeing that these influencers or, in our case, these meme coins.
1:26:53: They are getting a lot of adoption, a lot of holders, a lot of volume.
1:26:56: The attention is there.
1:26:58: We are also in an attention.
1:26:59: Economy and memes are all about attention, sentiment and users and holders, and and that's what mean coins have so they don't have the utility aspect, but they definitely have the attention holder and volume and interest aspect just as the influencer.
1:27:14: What happens then what I'm seeing now is a shift of trajectory where these bigger institutions large v.
1:27:21: CS , Web three projects me, , gaming and layer ones that need adoption to their respective projects in terms of deck gaming or users on their platform.
1:27:34: They are actually actively looking to tap into these meme coins and these communities and, you know, gain value from it.
1:27:43: So, yes, I was very early in in Nero, which is on binance and by many, , referred to as the next Doge.
1:27:51: And then after that, seeing what worked with Nero in terms of charitable donations, cross collaborations, transparency, many of the founders are docs and and and and putting a more honest layer and and kind of lowering the threshold so that these Web three projects.
1:28:10: The only reason why they haven't collaborated with meme coins is that it's a lot of risk involved.
1:28:15: Imagine if a huge layer one Blockchain or a gaming project that has the V C backing and has the binance labs and everything, , as investors and they partner with a meme project that has 30,000 holders and then that meme project dies three weeks later, it would be detrimental, you know, for that project as well.
1:28:35: So after an arrow, I did create some sort of golden circle with five projects at that.
1:28:41: All of them are cross collaborate, helping building.
1:28:44: And now you're seeing We've actually pioneered in the space that we're partnering with the Layer one Blockchain var and Medicaid, which is a gaming project, and and other projects that are cross collaborating now, which is the first in this space and something truly unique because we're merging the best of two because these projects they are launching in the in the bull market, they've had V.
1:29:07: C.
1:29:07: They've built on tech for multiple years, but they don't have communities, but we have communities in mean coins, but we don't have tech or utility or revenue or cash flow.
1:29:16: So combine the two.
1:29:18: That's when you I I believe that's the next step in this space.
1:29:23: So that's basically my experience, and that's my outlook for the memes.
1:29:27: There will still be a lot of speculation and gambling, which that is just inevitable.
1:29:31: But there will be and there are.
1:29:33: And you have to look out for that projects that are evolving and and using their meme coin audience, their holders, their their mind, share in that project to actually build, elevate, take it to the next level and cross collaborate with Web three giants.
1:29:50: So that's just an interesting observation, , in terms of the meme coins in general.
1:29:56: Yeah, for sure.
1:29:57: And guys I mentioned about my new our new company and, , my new company, Insignia Capital of A.
1:30:04: And we are investing millions and millions of dollars into a various projects and O.
1:30:11: T.
1:30:11: C.
1:30:12: Deals.
1:30:12: So if people do need that influx, give us hit me up on Twitter or various other ways, and we'll get that sorted.
1:30:18: I've got a quick Christopher Simon and I'll go straight to Gigi's actually, let me go to Gigi's first, and I'll go to Simon.
1:30:23: Actually, , so based on that, like because, you know, I I'm investing a lot of meme coins, and then I've got a question of Simon about Bitcoin, actually, and how we can get into, like, how I can personally can get into Bitcoin.
1:30:34: But I'll talk about it in a second to Simon.
1:30:36: But in terms of that, what's what?
1:30:38: In your opinion, what's the role of meme coins this cycle and where do you see this part of the industry heading?
1:30:45: Because I'm gonna ask Simon some question about Bitcoin, but like, what's where do you see meme coins ending?
1:30:49: Because I know I'm like, heavily into it, but like what?
1:30:51: Like what's the lifespan for it and where where do you think it's going?
1:30:55: Yeah, I I I touched a little bit on it, but I can say, in short meme coins, this, , cycle is playing a very big role in to represent the crypto space as a whole.
1:31:08: Like for those of you who don't know, the story about Nero itself was that there was, , a lot of malpractice in the space.
1:31:16: A lot of cabal like insider mean coins.
1:31:18: That was just a lot of pump and dumbs went to 50 mil, died with 100 mil, died 200 mil, died like no longevity.
1:31:25: And it was the same with Nero at the time when it launched.
1:31:27: It was a huge narrative because it was the next do like the story that I'm not gonna go too into details.
1:31:33: But in essence, there was four projects launched.
1:31:35: Some of them were insider.
1:31:36: One went to 300 mil, had a lot of people talking about it.
1:31:40: And then you had Nero, the one which is now currently on binance.
1:31:43: It got listed on binance, and it set the tone as an industry standard and binance , co-founder also went out and kind of quote unquote set like a legislative rule for the industry that they're not gonna, for example, be listing highly bundled cabal coins or tonics that is very concentrated supply.
1:32:02: So we're seeing a shift that the industry leaders such as Binance and others, are kind of setting the precedent on how, because they know and they see that mean coins are taking a bigger market share each and every cycle.
1:32:14: And obviously with Elon and Dogecoin and stuff like that, is it It's just getting more widely recognised.
1:32:20: But I do see mean coins having a future.
1:32:23: The gambling aspect is one thing, but the true builders, you know, docs, leaders, CTO s founders, , that are building communities like a couple of examples.
1:32:33: Floki, , from the last bull run is still here, and it's still a top 10 mean coin.
1:32:38: , they're partnering up and they're building utilities.
1:32:41: So the meme coins that gain first the traction by getting attention because of the price action and gaining.
1:32:49: , because of marketing and just growing and growing growing throughout the bull run, the ones that are taking it to the next level are the ones that are partnering with projects and web in Web two or even Web two that are looking to tap into these holders such as, for example, hardware wallets, exchanges, , Layer one projects gaming projects, every project in Web three that is basically looking for users.
1:33:15: But in essence, you know, meme coins do have a bigger role in in this space, and my role in this space is just that.
1:33:22: You know, I I've been in the quote unquote trenches, and I have a lot, a lot of knowledge about meme coins in particular and and what to look for and what not to look for.
1:33:31: And for those who want to elevate their projects from, you know, the low caps to the high caps.
1:33:36: And I kind of am I the one who has have been helping a lot of projects to elevate to the next level.
1:33:43: So yeah, Simon.
1:33:47: Same question to you, and then I go back to Gigi that, I've I've got, like, a lot of money and meme coins, and I've took them out blah, blah, blah.
1:33:55: And I feel like with Bitcoin I know you mentioned it earlier that people always think this, but, like genuinely, I do think this like it's on.
1:34:02: It's, , Bitcoins a 91.
1:34:04: It's an 89.
1:34:05: Is it too late for me?
1:34:06: Like, you know, there, some people talk about there's gonna be possibly some correction coming soon.
1:34:10: And is it too?
1:34:11: Is it too late to get into Bitcoin now?
1:34:13: Because the numbers are high.
1:34:14: Is it worth just waiting for a crash or what?
1:34:17: , so I don't climb the market.
1:34:20: , I just buy every month, whatever the price is after I get paid with, and that has served me and everybody else in incredibly well up to this day.
1:34:30: , you're you know, if you want to be a trader, you can be a trader.
1:34:34: But, , 90% of the traders lose money, probably more.
1:34:39: And so for me, I just think the risk adjusted, , return on.
1:34:45: Bitcoin is just buying it every month.
1:34:48: Whatever the price is based upon the four year cycle and the continuation of scarcity.
1:34:53: , And so the whole emotion of this too late have I missed the boat is, what drives people into looking for higher returns?
1:35:04: And my experience has been that those people end up with less money than th those that just simply buy Bitcoin every single month, , and have something they can rely upon and that comes from the experience, , of having seen this time and time again.
1:35:20: , cos unfortunately, if you're getting involved in something and and again, I I kind of it it it it draws to me from, , a Muslim perspective as well that I've grown comfort in the Bitcoin because of this anti river.
1:35:38: , and hard money properties.
1:35:41: , is H?
1:35:43: and, , if I invest in it and not gamble, then I've become very comfortable with that process.
1:35:49: And by investing, I mean by every month, and I'm not speculating on it.
1:35:54: , when you go into further and further down the curve, it you you get into things that just gonna drive you closer and closer to trying to make quick returns.
1:36:05: And, , I think it drives out the types of behaviours that drive you further away from investing and closer to trading.
1:36:13: And trading is where most people get wrecked.
1:36:15: That's that's my experience.
1:36:18: Can I just say something on that?
1:36:20: Because that's a very, very good take.
1:36:22: By the way, , I I totally agree that BT.
1:36:25: C you know, like best performing asset, has proven itself multi cycles and everything, and it obviously here to stay.
1:36:31: Nobody is disputing that.
1:36:34: I also want to give another layer of perspective because you know, Simon, I've seen in this space for a long while, and and it's like you've obviously made it and and and relatively terms for others that are in this space with and in mean coins.
1:36:50: You know, many are less five figures and four figures.
1:36:52: And yes, one could say, put monthly into Bitcoin and everything.
1:36:57: But I also I It's not a an opinion.
1:37:00: It's more of a factual statement that every bull run in this phase of the bull run this 1 to 2 year phase or, let's say, 18 months, depending on when it starts or when you got in.
1:37:12: You know, , everything else will outperform B BT C, but however, and it is a huge however, the problem with a lot of people is that they because of emotions, lack of knowledge, lack of , skill set.
1:37:26: They either don't time in and out, and and one could also say yes, meme coins, , will go to zero and every a lot of other things.
1:37:36: And BT c will stand halves to the test of time and will alongside maybe, and maybe a couple others.
1:37:42: But also, if you look at all stats from 2020 2021 even promising alt coins that were promising the biggest tech and had the biggest you know, Alam everyone was backing, even though those projects after the bull run dropped like 8090 some 95 97%.
1:38:01: So it's like now that we are in the bull run and and my role in the meme space, at least, is to like I'm being very transparent with people.
1:38:10: I'm telling them, guys, most of these meme coins be careful.
1:38:15: There will be a maybe a handful that will survive the bull run and go to them to being multi cycles like we've seen.
1:38:21: But many of them will probably not even be around two years from now.
1:38:28: But you could somehow somewhat say that for all coins as well.
1:38:33: Like many all coins, even in the top 100 when the bull run is ending.
1:38:37: Next cycle comes that tech is all that tech is out, the momentum isn't there, and it's like, What's the next shiny object?
1:38:45: But if you compare, compare, the two relatively speaking meme coins have had the craziest returns.
1:38:52: So my job is to just acknowledge the part of the cycle that we're in, and at least I've done my research.
1:38:59: And I'm just trying to relate to people like and and and how terms you can mostly capitalise on this and not by trading, but by identifying trends and narratives, because in mean coins you have.
1:39:14: I did a research the last six months how many projects went from one M market cap to 500 the last six months.
1:39:23: And how many of those were mean coins and how many were all coins like It was like a 1 to 5 ratio.
1:39:27: So for every one all coin that did that five mean coins did it, and that that ratio is just increasing.
1:39:34: So I totally agree.
1:39:36: BT C is like the acid, but also like that's a very easy thing to say for people that have made it.
1:39:43: And it's not gonna resonate with a lot of average Joes that are just like, OK, I'm in here in the bull run at $1000 you know?
1:39:50: OK, put him in BT.
1:39:52: C.
1:39:52: But it's like, yeah, BT c yes, it's like, but it's like, What is your time horizon?
1:39:56: You know, , but but but let me let me let me answer that one.
1:40:01: So, , firstly, yeah, , but in 2020 I got fed up with people saying that to me, and so I actually, did a video series where I started again from scratch.
1:40:19: And, , I just said, Right here's what I'd do if I was investing a million dollars in my savings and I did the Bitcoin strategy, and I'm gonna publish the results.
1:40:28: , and that was a 10 X when everyone thought that, , you know, it's it's it's gone too far.
1:40:35: It's too late.
1:40:36: I've missed the boat.
1:40:37: , it's the top.
1:40:37: It felt exactly as the same as it did right now, and so I I started again with no savings as well and said, Right, here's my income I'm gonna spend I'm gonna invest 10%.
1:40:51: I published the whole thing and just show people that actually, if you have a longer term horizon, , the returns that Bitcoin has generated, , through reliability, risk adjusted and not having to be a trader and not having to follow the market and not having to follow all the narratives, has been something that anyone can replicate and it and it's salon.
1:41:16: How much should you?
1:41:17: How much did you make when you did that?
1:41:18: These with the second experiment, not the million one pound for the broad again, it's all it's all percentages.
1:41:23: But, , everything is relative.
1:41:25: So if I If I'm investing $10 100 dollars $1000 10,000 dollars, $100,000 a million, the percentage is the same.
1:41:34: People focus on the real numbers if you can.
1:41:37: If if Bitcoin can consistently generate look, the best in the market in professional market generate 10% return per annum, Bitcoin has given an average of 100 and 18%.
1:41:50: That is like risk adjusted.
1:41:53: That's an asymmetric bet.
1:41:54: I'm not saying that will continue, but risk adjusted.
1:41:58: That's the Holy Grail.
1:42:00: And to want to go faster a and try and make it faster.
1:42:05: You, you, you, you you're rolling the dice at that stage.
1:42:08: And I'm not saying that, but just just understand the difference between an investor and a trader.
1:42:12: A A trader is looking for a short term trend.
1:42:15: , and that's something you're gonna have to do.
1:42:17: You're gonna have to follow the cycle.
1:42:19: You're gonna have to follow the market, and maybe you wanna do that with a percentage of your Bitcoin.
1:42:24: But please don't be one of these people that ends up with no Bitcoin because you were trying to find the the next meme coin and all that type of thing.
1:42:34: Maybe don't attack me, Simon split it.
1:42:36: Split its like Simon.
1:42:39: Would you call people?
1:42:40: Would you call people that invest with a one year horizon?
1:42:42: Obviously, by the end of the run, which most of us expect is gonna last maybe a year many people are talking about.
1:42:47: But that's just like conservatively speaking.
1:42:49: Would you say they are trading if they hold something for a year and then have a plan to exit, even if it's all or media?
1:42:55: Here's what I Here's what I want.
1:42:57: Here's what I want people to think If you get one thing from this value, your wealth in Bitcoin no dollars, no pounds, not euros.
1:43:05: So by valuing your wealth in Bitcoin, your goal is just to have more Bitcoin every month than the previous month.
1:43:12: That's something anyone can do, , as long as they have an income and then when the price crashes, you love it because you get more Bitcoin for your Fiat currency that month.
1:43:23: As the price goes up, you get to kind of value yourself in, in in Fiat and feel good.
1:43:29: , but yeah.
1:43:30: For me, a one year, a one year time frame of picking the right coin, , means you have to be a professional, heavily involved in the industry and every single year.
1:43:41: , if you look at the the top 20 coin market cap, every single year is different.
1:43:46: , so that means you're gonna have to be involved in market timing.
1:43:50: You're gonna have to be involved in the industry.
1:43:51: You're gonna have to be involved in trading.
1:43:53: And most people have just got work to do and other things to do.
1:43:56: Some people wanna be a professional trader, then that's fine.
1:43:59: , but I don't I don't think, , I don't think everyone I don't think everyone needs to become a professional trader to make life changing wealth, have longer term habits, , and and actually have something that everyone can do and everyone can rely upon, which is Bitcoin for real.
1:44:18: Let me go to G G.
1:44:20: Let me ask Gigi a question.
1:44:21: Then we'll go straight back to the audience.
1:44:23: I know the audience got lots of questions for Simon.
1:44:26: , Gigi is, there is now a P note listed on BINANCE.
1:44:29: But you have something to share about Another P note that was listed earlier and even got a like from Elon Musk.
1:44:35: I don't know if that's something to be excited about, but some people do.
1:44:38: Are you married or go ahead?
1:44:39: G G.
1:44:40: No way.
1:44:42: There's levels to this like a meme project.
1:44:45: Getting a like from the meme Lord himself is like, , reaching the nirvana, like, , levels.
1:44:50: , but for some of you guys, it's just another dead walk.
1:44:53: , Walkman park.
1:44:54: , but yeah, long story short, I don't want to get too much in the depths of it, because obviously, I I sense the audience is not like guys.
1:45:01: I am a full time DJ and depths in the meme coin trenches.
1:45:06: Like I'm getting wrecked left, right, and centre with no loop and just, , catching one or the other.
1:45:12: I've been catching a few of them.
1:45:13: Not gonna lie, but yeah.
1:45:15: Anyways, so yeah, Peanut.
1:45:16: , as you mentioned, obviously, we all know the story.
1:45:19: What happened with government?
1:45:20: Intervening to the guy fled New York.
1:45:23: And basically, you know what happened with the squirrel?
1:45:26: It went viral.
1:45:27: Everyone was talking about it.
1:45:28: Every politician Trump and Elon himself.
1:45:32: And, , yeah, that sparked the narrative in this space and me cos and one of them there was multiple peanuts launched.
1:45:39: One went to binance, like literally within the time span of one week or two weeks went from $1 million market cap all the way.
1:45:46: I think it touched almost 2 billion on BINANCE today or the other day, which is insane because Elon has been B posting and Elon in the meme space is the meme lord for for those of you don't know, However, with that being said, this is kind of interesting, which a lot of people don't know.
1:46:03: But people are starting to realise that there is now a because there's two tickers, the one that's listed on Binance.
1:46:10: They're both representing the squirrel.
1:46:12: But that ticker is a P N, U T and the other one which I'm now talking about, which is pinned up top.
1:46:18: You could check the video is peanuts.
1:46:20: You know the name itself.
1:46:22: What would What is interesting about this one is that somebody has actually launched this meme coin 16 days prior to the one that went to Binance.
1:46:30: And while this saga wasn't even viral like while the squirrel was still alive, so someone actually paid tribute to because it's it was a live, , viral tiktok.
1:46:42: And so that's one thing that it deployed first, which in crypto is very essential.
1:46:46: Like who was first mover advantage as you want to call it.
1:46:49: You know, even in everything in life, like first move advantage.
1:46:52: But that's one thing.
1:46:54: Another thing is obviously the fact that Elon Musk himself liked a tweet.
1:46:58: You know, Elon has a lot of power.
1:46:59: Like whatever he likes.
1:47:00: Touches interacts with.
1:47:02: And And he actually liked a tweet from the main account.
1:47:06: Like from a meme coin account, not from myself or yourself, but from an official meme coin account, which is kind of crazy.
1:47:14: And this is currently I think, sitting between 10 to $12 million market cap it shot up from 300 K to 20 mil now is at 10.
1:47:23: And I don't wanna show anything, but I just wanna, , kind of tell you the lore and the narrative once this grows and people realise that Oh, there is one at 1 to 2 billion.
1:47:34: This one launched first.
1:47:35: Oh, Elon blank.
1:47:36: And it even launched while the squirrel was still alive.
1:47:39: I really think that this is starting to gain traction.
1:47:43: , but it's just gonna build upon it, and I would encourage everyone not to buy or just stop by to learn a thing or two about communities and hop in their V C in their telegram and just listen to the way they work because it is a model also in mean coins.
1:48:01: You know how you are in V C and grades, how you work, how you build a community, what things to look for.
1:48:08: , inevitably, if we just face facts, it is what it is.
1:48:12: A lot of more people will enter the meme space.
1:48:15: And if you do so, you might as well know the best things to look for when you do.
1:48:22: And one of those things is what I'm seeing with this project, and it has a lot of potential.
1:48:28: So basically that was it.
1:48:29: I I'm not gonna go too much because it's Yeah, it's a mean coin, but yeah, definitely.
1:48:32: Check it out.
1:48:34: can I, Can I add some?
1:48:36: If that's OK with everyone, just just one second before you do.
1:48:42: , appreciate a laws at attraction.
1:48:45: I want I had a question for Simon.
1:48:47: You see, , but just before I do, it's a similar question to I asked before to Simon.
1:48:52: But just before I do guys Like I said, I got a new We got a new company.
1:48:56: It is Insignia Capital.
1:48:59: We are doing a significant amount of injection of capital into projects.
1:49:04: So hit me up in D MS and wait.
1:49:07: You said your name was insignificant capital, and you're putting in significant capital B b.
1:49:12: No, no, not insignificant.
1:49:14: What are you saying?
1:49:14: My G No insignia, insignia.
1:49:20: gave you that name, the more the more significant.
1:49:23: If you look at Insignia said the word sign in there because we're signing ourselves off on it.
1:49:28: right.
1:49:30: you should have called it sigma Or like Alpha or like what was that?
1:49:34: in, in in congestion like nobody knows that name, bro.
1:49:37: What is that?
1:49:37: Everybody knows it.
1:49:38: It's insignia.
1:49:39: It's like it's just it.
1:49:41: It sounds so slick.
1:49:42: Alpha.
1:49:43: Everyone's just like alpha.
1:49:44: I am the alpha.
1:49:45: I am the Omega.
1:49:46: I thought about all these names and I thought la like insignia like Come on, G, don't.
1:49:50: Come on.
1:49:50: Don't be a hair.
1:49:51: Right.
1:49:51: I isn't your what you called nuts, like Come on.
1:49:54: Right.
1:49:55: These nuts.
1:49:56: OK.
1:49:57: Anyway, , Simon question to you, right?
1:50:00: Another question I have I guess this has become a sort of man show, but then I'll go to the audience.
1:50:04: I know the audience has got a lot of questions.
1:50:06: I know.
1:50:06: The only issue I have is you know, I know your I know your answer is gonna be, but I want a different answer.
1:50:10: To be honest, I know you're like, don't look at the value.
1:50:12: Look at the quantity of the Bitcoin you're gonna get.
1:50:15: But when I was looking at the SALANA right, and I was like, Damn, I'm gonna buy some salana and I wake up and it flip and flew up to 2.
1:50:20: 20.
1:50:20: I'm like, damn I should have bought it at 205.
1:50:22: And then I'm like, Oh, I gotta wait till it goes back to two or five now because, like, it's like I lost out and then the same with Ethereum.
1:50:28: I'm like, Oh, I wanna buy it when it goes back down to 29 and it's like goes down to 31 and then it goes back up to 33.
1:50:34: And then Bitcoin is the same thing.
1:50:36: Like, how does someone deal with the psychology of dealing with all of these Bitcoins?
1:50:41: Yeah.
1:50:41: So, , look, I I did.
1:50:43: I invested in the the m Y c a from launch.
1:50:46: , and I've still got those coins that that's the time frame that I work on, , and the time horizon.
1:50:52: So, you.
1:50:56: Simon.
1:50:57: You invested in E as well.
1:50:59: Yeah.
1:50:59: I was a seed investor in the in the launch right from the beginning.
1:51:02: You touch your point yet hold.
1:51:06: hold, bro.
1:51:06: That's see, This is the thing, right?
1:51:10: And don't take this the wrong way, right.
1:51:12: But I think you have got in it money behind you and back like you're wealthy, right?
1:51:19: Whereas a lot of the meme coin community guys are working everyday people that that's all I'll say on that just just on that point.
1:51:27: You're an investor.
1:51:29: You're You're an intelligent investor.
1:51:31: So you know.
1:51:32: You know what?
1:51:33: What you said a lot.
1:51:35: Are you just attacking the audience and call them brookies?
1:51:39: Why didn't you say that insignificant capital is like a significant investment?
1:51:46: G g g g Insignia Capital.
1:51:49: Get your name right.
1:51:50: Not silly man.
1:51:52: You know why Simon had no hair and he just got it back Because the whole time, from the beginning, until now he's been stressing and he just he he just got the pump so you can't deal with it.
1:52:03: You have to.
1:52:03: You have to go bald.
1:52:04: That's it.
1:52:05: There's no other way.
1:52:06: That's the Bitcoin roller coaster, what it's done to him.
1:52:11: Oh, Simon, don't let them talk to you like that.
1:52:14: look at, Look at look.
1:52:16: at every Friday.
1:52:17: My hair is growing back.
1:52:18: I had to just prove to people that I did have hair because I was voluntarily shaving it off.
1:52:25: and Simon Simon Tell them as well that even if you did lose hair like you made so much money on Bitcoin, you could get a transplant.
1:52:32: But none of these are.
1:52:33: What are they talking about?
1:52:38: look at the meme meme coin shot and be like pump pump and hope it goes up by fire back so they can about it.
1:52:47: but yeah, no.
1:52:47: Look, PRI price is, is a is a natural thing And, , you know, people get concerned about it, but it you just gotta zoom out, like look at the look at the chart, put it on a logarithmic.
1:52:59: , you have to have conviction.
1:53:01: And this is why, if you're gonna be buying meme coins, you're gonna be permanently on the charts.
1:53:05: You're gonna be doing it all day, and you're gonna be trying to find the right time to buy the right time to sell.
1:53:11: You're gonna be pulling your hair out.
1:53:13: , you will lose your hair, whereas Bitcoin is a chill.
1:53:16: and, , you know, that's that's what I say.
1:53:19: Like have a convicted investment.
1:53:21: Even if you wanna go down this route, cos if people are gonna go down it, they've gotta learn their own lessons.
1:53:28: , but have have two portfolios.
1:53:31: One where you just do the Bitcoin thing and then another portfolio where you eat your heart out and you, you you, you try and , 10 X or 100 X.
1:53:41: You'll soon learn whether you can do that or not.
1:53:44: And almost everyone that says they can do it.
1:53:47: They're telling you about their winners, but they ain't telling you about all their losers.
1:53:50: , is what's normally happening.
1:53:53: That's very true.
1:53:54: I think that I just want just 20 seconds.
1:53:57: I think there's a good balance here.
1:53:58: It's like I I I do agree that profits syphon into safe haven is BT.
1:54:03: C.
1:54:04: You know, I also agree with law and attraction is that we're in the cycle where basically everything runs because it's the bull run.
1:54:11: You know, money is ample.
1:54:12: Everything liquid is there.
1:54:14: But you know, your worst enemy is yourself.
1:54:17: Like if you can't handle or manage risk and everything, you're gonna get wrecked.
1:54:21: But I do agree with which I I I was a victim of that last cycle.
1:54:25: , I made a lot of money.
1:54:26: I didn't know how to keep it.
1:54:28: That was the problem.
1:54:28: It took me four years.
1:54:30: Now I know that regardless of the fuzz and the noise and the euphoria, you have to preserve the money, you know, or someone.
1:54:39: And that's the point.
1:54:39: What everyone wants in the end is they want that Bitcoin and then they'll feel comfortable holding that Bitcoin, and everyone's just trying to trying to get more Bitcoin by trading.
1:54:50: But what you just mentioned, though, is actually quite is actually very big.
1:54:53: It's a huge point that, you know, I came into a whole bunch of money.
1:54:56: I didn't know what to do with it.
1:54:57: I lost it.
1:54:58: And I learned so many lessons from that.
1:55:01: And now, obviously, you've, , been able to be blessed to re recreate that success for yourself.
1:55:05: But your mindset is different than what it was.
1:55:07: You want to talk a little bit more about that?
1:55:11: well, as in, like, the the different parts of the journey, the mindset journey.
1:55:17: I mean for you, You you reverted to faith.
1:55:19: You use Islam as a way to remain disciplined, morally principled and not get sucked into the consumers and lifestyle.
1:55:25: Well, now I have a Lamborghini fund or a big mansion fund stuff you don't really need right that make you happy.
1:55:30: That's more.
1:55:30: Just, Well, OK, I I won't talk about how the Jews are all into that kind of lavish lifestyle.
1:55:35: They pushing lots of people and want them to buy it.
1:55:38: But wait, wait, wait.
1:55:40: That was a curveball.
1:55:41: What the fuck was that?
1:55:42: Y'all truth.
1:55:43: What's going on?
1:55:46: It wasn't a curveball to me, my friends.
1:55:49: So the consumer is a pretentious lifestyle is pushed by a certain tribe.
1:55:52: You know who they are.
1:55:53: I want you to blow your money.
1:55:55: You don't need like diamonds.
1:55:57: I saw that one diamond a mile away.
1:55:59: The shiny rocks.
1:56:03: Who do you think came up with that?
1:56:05: All right, listen, guys, I want to go to Hamza because I know he's had his hand up for a while.
1:56:08: Hansa, what's your thoughts?
1:56:09: What's your question?
1:56:10: Sorry.
1:56:12: , I just had, , just some comments and some questions at the end.
1:56:17: First of all, I just wanted to say so.
1:56:19: I wanna come to Simon and yourself, Sulaiman.
1:56:21: Appreciate you letting me speak.
1:56:24: and, , yeah, Simon, I've actually been sort of following your kind of twitter for a long time and a big fan, so, you know, sort of definitely resonate with what you're saying.
1:56:35: , and what I will say is that I think some of the people in this space have kind of misinterpreted what Simon was saying Just just now, And I think what he said about, you know, measuring your wealth with how much Bitcoin you have is absolutely profound.
1:56:51: Because all of you mean quin a lot and and I'm in I'm in this space as well.
1:56:54: I'm in the meme quin space as well no one is.
1:56:58: I'm not gonna I'm not attacking anyone, but I'm just saying no one in their right mind is gonna is gonna hold these meme coins.
1:57:05: , in the bear market, that's just not happening.
1:57:08: Because you know exactly what happens to all the s and all the memes in the bear market.
1:57:13: And you know that Bitcoin is Daddy, and it's gonna be it's it survives the bear market every single year.
1:57:21: , and so does E, I would say.
1:57:24: Yeah, exactly.
1:57:26: So yeah, that's what I would say.
1:57:28: I just think that, I just think Simon's whole view is, , and the the what you just said to Simon about, , Bitcoin being anti riot?
1:57:38: , completely agree with that because, you know, you have a central banking system which can print so much money, , can drive up inflation through the roof, and then you have something like digital gold, literally digital gold, , sort of reserved in a Blockchain with sort of limited, , supply, , which is just so, so fascinating to me.
1:58:04: and yeah, what I will say is that the the Ulama, like the scholars that say that, you know, Bitcoin is, you know, problematic.
1:58:13: I just find that view just extremely.
1:58:16: Yeah, I just I I I just think they need to rethink that because, you know, just, you know, everyone will say that Fiat currency is sort of more legit, But the thing is, there's nothing more legit than gold.
1:58:28: And the closest thing we have to go now is Bitcoin.
1:58:31: So yeah, that's what I wanted to say.
1:58:34: , I had a question for you, Simon.
1:58:36: , and I'm not sure if you can sort of answer this on this space, but, , I know, like, not sure yet.
1:58:44: Not sure if you can address this, but maybe in maybe not in too much detail, but just generally.
1:58:49: But in terms of tax liability in the UK.
1:58:52: And like, imagine, you make a lot of money and, you know, and you're not in a very crypto sort of tax friendly country.
1:58:59: Are there ways to legally kind of avoid tax?
1:59:03: , I'm assuming you'd have to kind of move out of the country or go to a more crypto friendly country.
1:59:10: So if you could give your thoughts on that, I really appreciate that Yeah, OK.
1:59:15: , sure.
1:59:16: So first, I have to put the disclaimer in our tax advice.
1:59:19: , also, if anyone is interested in the whole, , Bitcoin and Islamic finance, , Then I put in the purple pill a interview on a podcast that I did with Muslim Bitcoin where we discuss through all the different things and why we think it's, , halal.
1:59:36: And, , I'd be very curious if anyone, any scholars or anyone wants to, , comment on it as well.
1:59:42: , but I put that in there, , in terms of so I did.
1:59:47: Yeah.
1:59:47: So I I I was I don't live in the UK anymore.
1:59:50: , but I did live in the UK.
1:59:53: And, , unless you're American, you can Most countries have the ability for you to, , as long as you don't.
2:00:02: This is the other thing about trading at meme coins.
2:00:04: They're all taxable events.
2:00:05: So if you if you buy something and then you sell it, then you've incurred a capital gain.
2:00:11: And so you end up with this tax nightmare.
2:00:14: , one of the things we built the company, you know, I I basically bank to the future is a company that had just built all the tools that I needed.
2:00:24: , so we created ways where people can invest via a Cayman Island company.
2:00:29: We create a tax software that would simplify the whole process.
2:00:33: , and so the good thing about, , building Bitcoin wealth as a long term generational strategy is that as long as you're accumulating each month and you don't sell, you don't create a taxable event.
2:00:46: , Caroline, , Caroline, , Harris wanted to implement an unrealized gains tax, which would mean that everybody selling Bitcoin would have to sell a percentage of their Bitcoin if they didn't have the money just to pay their tax, even though they didn't want to sell it.
2:01:02: , but most countries, including the UK.
2:01:04: As long as you don't sell it and trade it, then you don't create a taxable event.
2:01:08: Now, if you do this for for the next 10 years, and you end up with a life changing amount of wealth, , then affording a tax advisor that can help you either move jurisdiction.
2:01:20: , or you can do it via, , you know, a company where you can defer those taxes via a retirement plan and various other things.
2:01:29: , I spent a lot of time on on on all of these different things.
2:01:33: So there are ways of doing it.
2:01:35: , most people I like people to just get started, cos I think part of the reason that people don't do it is they never get started in the first place.
2:01:43: So I encourage everyone The challenge that I set to everybody stop small can be a tiny amount of money.
2:01:49: , go through an exchange in your country, buy some Bitcoin, , and buy a hardware, wallet, research hardware wallets to hold things in self custody, take it off the exchange and just go through that process with $100 of Bitcoin.
2:02:03: $10 of Bitcoin.
2:02:04: Whatever you wanna do the first time you do it, you will learn so much.
2:02:09: , just about how to store your own wealth, how to buy it in exchange, get your account set up and just get started with it.
2:02:16: , then get in a habit and do it every month for four years with whatever amount is right for you.
2:02:22: $10.
2:02:23: $100.
2:02:24: If you're wealthy.
2:02:25: more if you earn more.
2:02:26: Whatever you can do whatever's right for you in that position.
2:02:30: and then I I said everyone a high net worth investor challenge.
2:02:34: , once you've reached high net worth status, you can start looking at relocation strategies.
2:02:40: , when you you know, all these different things.
2:02:42: , asset protection structures.
2:02:45: , And so you know, that's something that that we we do with our investors.
2:02:50: A bank for the future as well.
2:02:52: , so Yeah.
2:02:55: Simon, we should, we should definitely do.
2:02:59: I think we should definitely do a space on Islamic finance, and, No, I know, but this is one of my expertise in the Hanafi.
2:03:13: I actually wrote like a lot of articles about the permissibility of mortgages.
2:03:17: So anyway, it might be good to break it down and see.
2:03:20: See what's what.
2:03:21: You could tell me the different bottom.
2:03:22: And I can tell you what's wrong with it.
2:03:24: I think it would be a good best interest is best.
2:03:26: , let's go to Is Isaiah?
2:03:30: Go ahead, Isaiah.
2:03:34: bro.
2:03:34: I've been subscribing to you for like two years now, and you still don't know how to say my name?
2:03:38: I'm a little bit offended, so Oh, my God, my people, I love them.
2:03:46: Why are you surprised?
2:03:47: You can't even say insignificant in this.
2:03:51: is a legend.
2:03:52: Don't listen to Mr not So go ahead.
2:03:58: And so, you know, , good to be on the stage with you again, man.
2:04:02: , a lot of great information.
2:04:04: So I am very curious on how you see, , like the relationship between, like, tether and Bitcoin.
2:04:15: I mean, out of like, I'm like, if Bitcoin goes down to 1000 bucks, I I'm in right or die, right?
2:04:21: Like I I don't care, right?
2:04:22: I I'm I'm saying it with it.
2:04:24: My thing is, you know, we always talk about the Federal Reserve and all that.
2:04:29: Like, how do you reconcile that yourself?
2:04:31: Because you're like an O G in this space, too.
2:04:34: So, like, that is the only thing that scares me is is is tether.
2:04:38: And you know what I'm talking about, Right?
2:04:40: , that that, like, how do you reconcile that?
2:04:44: Yeah, absolutely.
2:04:45: So full disclosure.
2:04:47: I'm I'm a shareholder in binx.
2:04:49: Bin is Oh, no, you're you're a shareholder.
2:04:53: Oh, my God.
2:04:54: Well, I'm a shareholder in pretty much every company in this industry about Oh, my God, Dude, No way.
2:05:00: You know, Binx blocked me.
2:05:01: You remember?
2:05:01: Remember, he had the most fun on you guys.
2:05:04: remember bin I'm No, I'm just a passive investor because I was, Can I listen to my meme coins, then?
2:05:11: I'm sorry.
2:05:13: but yeah, no, I mean, you know, I I we we invested before any of the venture capitalists in, like, Kraken.
2:05:19: Cobase bit fin bittan circle.
2:05:22: , Blockchain dot com.
2:05:25: , many, , shapeshift many of them.
2:05:28: So, , that was what we when we first got into the industry of banks in the future, , we were supporting the companies that just no v c would invest in them.
2:05:36: And we they were all funded by community in the early rounds, on on bank to the future.
2:05:41: And bit fin X was one of those cos we helped them recover from the hack in 2016, and we reconstruct.
2:05:47: So I became a shareholder through that process.
2:05:49: And in 2016, when 100 and 19,000 Bitcoins were stolen from the exchange and we drove, we drove the best recovery ever.
2:05:57: , in ever any bankruptcy in history, , by using a a token built upon Bitcoin, , that represented a debt.
2:06:05: Anyway, , point by side.
2:06:07: Right.
2:06:08: So, , I've been I've I've been through the whole journey of, , tether from when no one wanted to use it when big fin X bought it and It was only like, , you know, the founding team at Satoshi Roundtable that were creating it, , and then Brock Pierce being involved, and then he So then they sold it to Bint.
2:06:29: And then they tried to get KR and to use it and Coinbase and all of that whole journey.
2:06:35: And then they, , basically, , b couldn't get a bank account, so they used tether instead.
2:06:41: And then suddenly, the the tether became massive, , because they were essentially becoming the bank account for B and all the crypto to crypto exchanges.
2:06:52: And then I was there when Wachovia and, , the Taiwanese bank said we're not we're not servicing you anymore.
2:07:00: , and then they had to use, , a shadow bank called Crypto Capital.
2:07:05: And then Crypto Capital was engaging in money laundering, and the government seized 850 million of funds.
2:07:12: And then it went, you know, there were funds missing.
2:07:15: , and then they did a token sale in order to plug the hole.
2:07:18: , they've been through hell and back from banking.
2:07:21: It was all banking issues.
2:07:23: But if you look at them today and again, they didn't want to do an audit because their their past was shady.
2:07:31: , they had all this crazy stuff.
2:07:32: They came from 2014.
2:07:35: , but now if you look at them today, everything is attested.
2:07:40: Which means that b d o.
2:07:41: If you go to tether dot i o There's a transparency page.
2:07:44: You can see exactly what assets are backing it.
2:07:47: Almost all of it is government Treasuries.
2:07:49: , the Treasury came out and said, Stablecoin are a significant, , lender to US government now.
2:07:56: So strategically, they wanna support stablecoins as a sector.
2:08:00: , they managed their reserves with canter Fitzgerald Canter Fitzgerald is a regulated institution within the US.
2:08:07: They came out on Bitcoin 2024 said that everything is back, they've got $13 billion of additional reserves and they purchase, , with the interest that the government pays them.
2:08:20: Bitcoin.
2:08:21: So they're taking money out of the Fiat system, , allowing everyone to have a full reserve bank account backed by US Treasuries.
2:08:29: And then when the government pays them, they buy Bitcoin with it, which is a boycott, , of the system.
2:08:34: So it's It's a beautiful business model and it's given everyone full reserve banking.
2:08:38: But today, if you wanted to unwind tether, it would be trivial because it's backed by Treasuries.
2:08:46: You just sell the Treasuries, you unwind tether.
2:08:49: and, yeah, there would be a whole load of fud a whole load of, , shit in our industry.
2:08:55: But the funds are that, am I Am I missing that?
2:09:00: I thought it was 86% cash and, , 14% Treasuries and stuff like that.
2:09:06: Am am I Did I get that wrong?
2:09:08: No, I mean, probably about 95% Treasuries.
2:09:12: Oh, wow.
2:09:13: That's you can go on that.
2:09:15: And then the rest of it is other stuff.
2:09:17: And then they go, Yeah, because it drives me nuts that none of none of the big four want to audit.
2:09:22: You know, , they just don't want to.
2:09:23: They don't want they don't want to touch it.
2:09:26: but we know the difference between those two.
2:09:27: You know what I mean?
2:09:28: Yeah, but the whole point in an audit is you'd have to audit the cost.
2:09:32: They don't want to order the part, so they do attestations and they manage the funds externally with, Canter Fitzgerald.
2:09:38: So I I I see that as really not a problem in the industry.
2:09:44: Yeah.
2:09:44: No, no, I I I I agree.
2:09:45: Yeah, like that's the only thing where, like, I don't plan on off ramping, but, you know, when you want to take profits, you know the game, right?
2:09:52: So it's like, where do I do it?
2:09:53: And am I at risk for tether and all the crap that's happening, even within the last month?
2:09:58: You know what I mean?
2:09:59: Yeah, Well, , but you you gotta look at it.
2:10:01: What happened to US DC when Silicon Valley Bank went down.
2:10:04: So they had about 35.
2:10:08: 35 billion in Treasuries, and then they had 6 billion at Silicon Valley Bank.
2:10:14: Silicon Valley Bank exploded.
2:10:16: , the price of US DC crashed to about 90 cents, so you would have lost 10 cents, and then the FDIC bailed out the bank and it went straight back to a dollar.
2:10:26: So it's market pricing.
2:10:28: The the assets are there.
2:10:29: So what is the credit risk of tether?
2:10:33: It's the risk that the US government goes bust.
2:10:35: If the US government defaults, then tether's worth nothing, Otherwise it's worth something.
2:10:41: So really you're back.
2:10:42: You really you're back in the dollar and that you belong.
2:10:45: Yeah, that that That that's a really, you know, I really haven't heard anyone with your position, and I and I appreciate it, dude.
2:10:52: Seriously, like, that's a really, really, , thought out and very, , intricate, , explanation of it because no one has really been able to explain it other than, like, reddit threads and, you know, like going down the goon stuff, you know?
2:11:04: But I appreciate it, dude.
2:11:05: Thank you.
2:11:06: All right.
2:11:06: No worries.
2:11:06: Having said that, there is risk you need to understand, which is the risk that you do understand.
2:11:12: You know, I I do.
2:11:13: I do.
2:11:14: Dealing with government.
2:11:15: You're dealing with Treasuries you're dealing with, , centralised entities.
2:11:21: And so those are all layers of risk that you need to factor in.
2:11:24: But those those are the ways that I think about the credit risk of tether.
2:11:27: Now, today it changed over today.
2:11:31: You're going in there knowing, right?
2:11:32: You're going in there knowing what?
2:11:33: What?
2:11:33: Like the I still know there's risk.
2:11:36: You know what I mean?
2:11:36: , but it it is good to to know, like, at least a calculated risk.
2:11:40: At least you know it's actually the same risk as Silicon Valley Bank, where, , they had to meet their depositors and they couldn't meet the depositor obligations.
2:11:51: Cos they're a fraction of reserve bank.
2:11:52: But this is full reserve.
2:11:54: , And so the government hiked rates, which crashed the price of Treasuries.
2:11:59: And then they had to sell the Treasuries at a discount because the Federal Reserve wanted to take out the banks.
2:12:05: , that similar thing could happen with tether, but it's full reserve, as opposed to fractional reserve.
2:12:11: So the risk is actually still the same.
2:12:14: It's much less risky than a bank.
2:12:17: , again, I gotta be careful with my words, cos there's different risks and it's not FDIC insured cos it's backed by securities.
2:12:24: It doesn't need to be FDIC insured cos it's backed by securities, but I think we're getting a bit too much into the weeds.
2:12:29: But, , yeah, the I love I.
2:12:32: I love the weeds.
2:12:33: I don't smoke weed, but I love the weeds.
2:12:35: Thanks, Simon, with, , tether and circle, right.
2:12:41:
