BTC Sessions

REP Massie changed after reading The Bitcoin Standard! ep420

Welcome to Simply Sessions! In today's episode (June 20th, 2024), Rep. Thomas Massie calls to end the FED after reading "The Bitcoin Standard," the Biden administration plans to attend a Bitcoin roundtable with key congressional officials in DC, Texas shows bullishness on Bitcoin integration with its grid, and we discuss why it's still early to invest in Bitcoin. Tune in for the latest insights and updates!

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Duration:: 55m
Broadcast on:: 20 Jun 2024
Audio Format:: aac

[MUSIC PLAYING] [MUSIC PLAYING] [MUSIC PLAYING] [MUSIC PLAYING] [MUSIC PLAYING] [MUSIC PLAYING] [MUSIC PLAYING] [MUSIC PLAYING] [MUSIC PLAYING] [MUSIC PLAYING] [MUSIC PLAYING] [MUSIC PLAYING] [MUSIC PLAYING] What is going on, everybody? Welcome to the show. We're back home. I've been on the road a little bit. I've been a little bit. I've been out of town for the entire month. So I'm happy to be back, happy to be live. And we're back with Nico actually waiting in the wings live to bring us the latest and greatest and all that's been happening in Bitcoin. Of course, I'm going to be following up with the tech updates. But yeah, excited to see you guys back. Did you miss the live? Isn't it great when we can do it live, like my friend Bill refers to? OK. [MUSIC PLAYING] We'll do it live. [BLEEP] Do it live. I can go out right it and we'll do it live. [BLEEP] And things sucks. Now, if you haven't already, please do like, subscribe, share all those things. They help a ton getting this content in front of more eyeballs. I am Ben with the BTC sessions. This is your simply session. [MUSIC PLAYING] Before we dive in, let's take a look at where we are. In the market right now, I'm pulling up timeshaincalendardust.com. And simultaneously, I'm pulling up the live chat, everything we say in there, from here on in. We'll be live for the world to see. For better or worse, timeshaincalendar.com. We're sitting at $65,050 per coin. A single US dollar will bring you up 1,537 satts. I had an interesting interaction today where somebody said, it feels like a bear market near all-time highs. And I echo that sentiment because it's like this crab market sideways, everybody's like, eh, but we're at $65,000, which is insane. Anyways, in terms of fees, 26 satts per byte, next block, anytime 10 satts per byte. And in terms of Bitcoin mine, 19.72 million of them, which is 93.88% of the total supply. We're going to do a quick shout out to a couple of the sponsors of the show, and we'll bring Nico in. So we'll see in a second here. It's on a mission to enable independence by being one of the easiest and quickest ways to purchase Bitcoin in Canada and the US. The best part about it, every buy goes directly into your own self custody. They never hold your coins. You can add a Bitcoin address as part of onboarding. There's a transparent 1% spread, no hidden fees, no withdrawal fees, plus they have KYC free cells and bill payments on their website. They're also a publicly traded company under the ticker BTCW on the TSX-V. Check them out over at bitcoinwell.com. Check out my full tutorial on how to use them. And you can check out the links in these show notes down below and sign up today. kite.com has some of the best hardware on the market today to secure your Bitcoin. The cold card queue is an absolute powerhouse and is my daily driver. On top of this, they have plenty of other goodies, including the Mark 4, the tap signer, open dimes, the block clock, and much more. If you head over to their website, make sure you use code BTCSessions at checkout to get a nice discount. Links are in the show notes down below. - All right, let me get my... Let me get that off the screen and let me bring a new... Jesus, it's been a while since we did this live. Yo, buddy, how's it going? - Yo! Dude, missed you, bro. Look, my tips are just gone. They're just gone. This is what happens, bro. You go to Europe and everything changes. - You know that's gonna be fixed in very short order. Like, are we gonna make it happen here? - Yeah, I mean, we have to. We have to touch the tips in Canada. - It's happening. So, well, Niko's coming up here. He's gonna be at the Bitcoin rodeo. Can I do a quick shill here? I'm gonna do this off the top of the... 'Cause I mean, I feel like I have to. Bitcoin rodeo, in my hometown, very happy to have Bitcoiners descending upon Calgary, Alberta, Canada. It's gonna be a good time. Very excited. JP Sears, who's hilarious, is gonna be in town. And he's gonna be doing a Bitcoin comedy set. But we've got a bunch of people coming out, Preston, Francis. Look, Niko, last time I pulled up this website, you weren't even on it. - I know, bro. I gave Dave, I'm like, Dave, what's going on, bro? - Yeah. But there you are. And look at that tip is gonna be reconstituted here in Canada. So, that's happening. Mrs. Sessions is waiting, waiting, eerily with her hair tools. - What's up? - It's gonna be a good time. But yeah, we're gonna have Peter Todd. Of course, Bitcoin brains. Dave Bradley, Maydex, Graham Wardle, Harry Suttick, Adam O'Brien. Obviously, Bitcoin well, absolute legend. Scott Diedl, Steve Barber, Colin Sullivan, Brad Mills, Flo from Love Is Bitcoin, Ben Ganyon, Ben Harper. Ben Harper is the son of former prime minister of Canada, Stephen Harper. And he's a Bitcoin miner, fun fact. And Dale from QuickBit, and of course, Derek filled a brand from the Western Standard. And maybe even some others joining in and people are gonna roast me. They're gonna make fun of me on stage. So that'll be a good time. - I'm excited, but I'm like, am I gonna hurt Ben's feelings? - Yeah. (laughing) - I mean, nothing I haven't heard before. I exist on the internet. So you don't have thick skin, I suppose. But it's gonna be a good time. So make sure, hey, if you're thinking to come to Calgary, you probably should. And you can use COB-BTC sessions for a discount. But yeah, come on down. And it's gonna be a blast. And we're having the SAT market the day before. So this runs July 2nd and 3rd. SAT market is on the first. And then, you know, the mountains are nearby and the Calgary Stampede starts on the 5th. So yeah, everybody come to Calgary. It's gonna be a blast, man. - So I'm so excited, dude. I absolutely love that part of Canada. Had a great time, extremely excited to go back. And I gotta pull up my dad jokes for the roast of BTC sessions, man. - Oh yeah, man. I'm looking forward to it. It should be a good time. Oh, and we had something special planned off the top of the show that we wanted to do. I think we're gonna start doing this on the regular, right? We're gonna do, for a Thursday shows, we're gonna drop a coin in the well. We should probably explain what this is. - Absolutely. So, you know, Ben, Ben and I sponsors Bitcoin Well, best place to build your automatic self custody Bitcoin stack. And if you're an existing customer of Bitcoin Well, every time you buy Bitcoin on Bitcoin Well, you earn Bitcoin Well points. You can use those Bitcoin Well points towards the Bitcoin wishing Well for an opportunity to win up to one million satoshis. So we're gonna do a live demo, but this is real. So the first person to scan the QR code is gonna win those precious satoshis. So we're gonna, you know, redeem 500 points and we're gonna read the top. It says you're being transported back to 1999 when Napster is changing how we share music. So let's toss a coin into the Bitcoin wishing Well, it goes into the water. - Get those lightning Well, it's ready. - And 500 sat for whoever got it. So by the way, if you're an existing user of Bitcoin Well, you can use my promo code or Ben's promo code. That will give you free toy causes into the Bitcoin wishing Well. You'll get three if you use Ben or I's promo code and yeah, take advantage of it. - Yeah, man. Okay, I wanna see somebody's got to grab it. Somebody's got to grab it. I mean, I guess if I were to get rid of it right now, they'd have to scrub back through the show and catch up again later. But yes, you can. So if you're unfamiliar, by the way, this is the first time doing it. Well, I'll explain how this works. If you have a lightning wallet that supports LN URL withdrawal, you simply scan this you have receive and then scan and then you can scan that QR code and we'll ask if you wanna redeem 500 sats. It'll go straight into your lightning wallet. So whoever ended up snagging this, congratulations. And we're gonna do this every week and sometimes it's 500 sats and sometimes it can be far more. What's the- - 1,000,000, 1,000,000 satoshis. - Holy shit, the time that we end up getting a million sats is gonna be fantastic. - Dude, it's gonna be, it's so funny 'cause Opti when we do this on the show is like, yeah, I'm just gonna get that for myself. (both laughing) Just pull it off the screen right away. - No, no, no, nevermind, it's broken. - Oh, man. All right, dude, so much news, but let's start off with like the ultimate bullish, bullish, bullish bit which is US representative Thomas Massey says reading Safedines, the Bitcoin standard led to his proposal to end the Fed. Now, you guys love, you guys know that I love talking about the Overton window. Take a shot. Nico repeating himself a million times. The Overton window for anyone who doesn't know is the acceptable window of discourse. And it's moving the F to the direction of the idea of ending the Fed altogether. People are starting to realize that the Fed, the Federal Reserve is a scam and they're waking up to that reality. Let's check out what Thomas Massey has to say. - Mutions of this government. And I was actually listening to an audio book by Safedine Amuz called the Bitcoin standard. And I'll warn anybody who wants to listen to that book. The first 80% of it is not about Bitcoin. It's about money and what is money, which I think is important to understanding Federal Reserve and also, but he has to lay that down so he can explain what Bitcoin is because you can't assume everybody knows what money was. And frankly, I learned some things or picked up some vocabulary that I didn't have about it there. And I was listening to that tape and I'm like, it is time, it is way past time to reintroduce a bill to end the Federal Reserve. And so I put it in the hopper and I thought, man, I may be the only one. Maybe I'll get two or three co-sponsors, but I don't care, this needs to be done. I got two dozen co-sponsors. So the number of co-sponsors of the bill to end the Federal Reserve in 10 years has gone up 10X, which is remarkable. Yeah, that is no. - I mean, bro, that's pretty crazy. Like we're heading in the right direction. We might not be there yet, but we're definitely heading in the right direction. - Oh, yeah, I mean, the fact, so you know why all these representatives have a copy of the Bitcoin standard, right? It's because- - Orange pull-up, right? - Orange pull-up, they just went to Congress and started, you know, just making it rain copy. Yeah, I mean, it's great. And that many people, for that many people, like he said, he thought he would get like a couple co-sponsors and he got what, 20-something. That's pretty impactful for, you know, a bunch of people to have read that and say, like, you know what needs to go, the Federal Reserve. I mean, it's just, I think it's just a matter of people being exposed to the knowledge. Before they realize what the true problems are. And so, I mean, this is case in point. You've got a bunch of people that took the time to read a book and they go, oh man, my entire position on everything is changing. And I want to enact change as well, so yeah. - Dude, it's crazy. We're making progress and I hope this, you know, I hope this type of rhetoric continues, man. And the Overton Window continues to shift. This is huge progress. Anyway, the Federal Reserve is evil. Like it's just evil. People need to be aware of that, awake into that. And I think a lot of the visiveness that we see in today's society, I think just boils down to just broken money, central banking, all of that. So you fix the money, fix the world. Anyways, in other news, I do want to give a warning 'cause I have faith in my life. Because I have gone back to see like the last three, four, or five simply sessions episodes. And I've noticed that they all have a common theme. So I prepared a warning, right? Which is more news about the orange man. (laughing) - Some people are very trained. I had somebody, I will tell you, I can't remember it was one of the last two episodes 'cause obviously there's been a bunch of stuff, you know, about orange man. But it was simply the title was just that he was accepting Bitcoin. And the comment was something like immediately like unsubscribed. And well, like when somebody was like massively angry that we even covered, like there was no opinion in the, or it was something like didn't watch the video immediately unsubscribed. I was like, dude, we didn't even like, there's no opinion about it in the title. Like if you didn't watch the video, you wouldn't even know what we had to say about it. We were just stating what happened. So some people are very on edge about it. I guess I'm pretty disconnected 'cause I'm north of the ice wall and I've got my own goon that's currently in government right now. So yeah, yeah, man. - So let me ask you something. You did mention, you buried the lead when you said ice wall. How do you get past it? - Sometimes you have to dig under it. But if you've got a hairdryer, you can actually melt a hole. It'll freeze over very quickly. - Oh, okay. - Yeah, yeah. So that's how you're getting your, right? Dude, this is so hilarious. By the way, like I just got to say, like and I don't know, Ben still doesn't believe me when I say this. I absolutely love Calgary. But everyone warns me it's like Nikos 'cause you haven't been there during the winter. - Yeah. - But it is such a nice city. - It is not, we'll do, we'll get you up here. We'll get you up here when it's Christmas-y. And so it'll at least be pleasant. But then you'll also get to see like the terrors of winter and then you can picture it in mid-February when it's not Christmas-y and cute. And then you'll understand. - Oh man, I feel like it must be brutal. It must be brutal. By the way, Ben lives in a very bougie city. The bases of the stop signs are made of stone, right? Like a well-organized stone, like it's insane. Okay, anyways, they don't even do that in Miami, bro. You see like the homeless guy or something. - I mean, when it's Baff and it's a tourist town, they put in some effort to spiff it up. - We're all the oil, money, and can't ever live. And we saw the BAMF Baron to point in. - Yes, we did. - And then the guy came out with the what's that instrument called? - Like five, he's playing it back. - So by back, five. - Okay, all right. Now to the orange man. - Orange man. - All right, so guys, I'm sorry. I apologize. I feel like I'm beating a dead horse, but I have to say it. And the reason I'm saying this is like, guys, like this is insane. Like Trump isn't saying this at libertarian conferences anymore. He's now adding the political rhetoric about protecting Bitcoin and Bitcoin miners into his mainstream political speeches that he gives at, like, this isn't a, he's not talking to libertarians or Bitcoiners. He's literally just talking to his voter base and he just keeps bringing up Bitcoin. There's multiple examples of this. So let's check out this first one. - Defer the secure America's future, create opportunity for young people. I will end Joe Biden's war on crypto and we will ensure that the future of crypto and the future of Bitcoin will be made in America. We're going to keep it right here. And a lot of it's going to be done right here in Florida. - This guy is so fucking funny. - It's so weird to hear, like, and then see cheering instead of just, like, in different ways. - So weird. And did you notice that, by the way, shout out to the crew at Bitcoin Magazine who have been advising the Trump campaign. Did you hear where he said Bitcoin and crypto? - He differentiated the two. That's huge, man. - Yeah. - Yeah. - Yeah, man. - Okay. Go ahead. Sorry. - That's it. You could keep going. - So, okay. So that was one thing. And here's an entirely different new rally and he does it again, which is insane. - Defer the secure America's future and create opportunity for young people. I will end Joe Biden's war on crypto. We will ensure that the future of crypto and the future of Bitcoin will be made in America. Otherwise, other countries are going to have it. - I love it. Like, he goes off the cuff. You can tell where, like, he's reading off the prompter to the same lines. And then he just goes, "Other countries, "the young people are going to love it." Like, dude, this is quick. - Can you ever have imagined this? - Yeah. - We don't want other countries to have it. We want to have it all. We'll have the biggest, the biggest of all the Bitcoins. You're in America. Made in America. We'll make the rest of them here. - But, dude, who could have imagined? The orange man is partly orange-going. - Oh, man. - It's more music than anything. - It is funny. Again, I get, you know, people don't, I'm not everybody, but like, there's a large swath of people that really don't like them. I'm just morbidly curious, to be honest. Okay, I just kind of, we just, you know, I sit up here, you know, in my igloo, eating my popcorn, you know, and just watch what's happening, and it's wild. It's wild. I feel like we're going to get some of it here. It's weird because I feel like we're about to see this play out yet again in Canada, 'cause Pierre Poliev was on, you know, was on the Bitcoin trend, specifically Bitcoin too. And he kind of honed in a little bit more on the messaging 'cause he knows some good Bitcoiners, but he, you know, he was, I mean, he went to Tahini's and he bought a shwarma with Bitcoin. He was on Brie Love Show. He has, you know, talked about it many times before. And then obviously when he started doing it, you know, near the, not near the end of the last cycle, but as we're coming down from the end of the last cycle. And then he just kind of quieted down a little bit about it because it was their only like real attack that the opposition had against him. And, but now everything that they tried to, oh, if you had invested in Bitcoin when Pierre Poliev brought it up, then you would have lost half your money. Well, yeah, now you'd be up 40 or 50%. So what's up? - Dude, but it's so, man, it's happening everywhere, right? It's the, oh, by the way, did you hear the news from BJ today? Shout out to BJ Ditcher. He convinced the new blue party or something like that. - Yeah, like a sect of like the conserve. I don't know, I'm sorry, I don't know Canadian politics. - We've got many, we've got many, many political parties and you can have very tiny ones as well, but this is just like a smaller one, but it's cool. - Yeah. And this is breaking the new blue party of Ontario is the first Canadian history to vote to include Bitcoin as part of its policy guide. This policy includes the right to self custody, the right to run a node, and the elimination of capital gains on all Bitcoin. - That's epic, man. - Yeah. - You vote, I'm voting for the new blue party. I'm going to move to Canada in six months. - I've got new blue. - It'd be better if you have a new orange, but yeah. (laughs) - But I still have to check out the winter first. Okay, so, all right, so all of this happened. All right, we talked about the orange, man. I'm sorry, guys, it gave you the warning. All right, this is going to happen. And unfortunately, it is an election year. So it's just... - I'm so glad you have these warnings, man. (laughs) - But there was a reaction. And the reaction is like, excuse my language, everybody. No shit, Sherlock. Why am I saying this? Like, I don't care what your ideology is, what your politics are. Like, Bitcoin is for everyone, okay? Like, and there's a key, it's a key. Look, Trump is a politician. He wouldn't be saying this unless he felt like it was going to get him votes. Okay, 'cause politicians don't say this unless they feel like they're going to get him votes. I think they completely... And I'm talking about the Democrats and talking about the Biden administration, they completely shut the bed and miscalculated this completely. They're looking at the poll numbers and they're realizing, maybe it isn't popular to go after something that the younger generation is using to actually achieve some type of wealth because the traditional system has fucked them so bad and they started walking it back. They started walking it back. So this is one of the first things that they signaled, which is key Biden administration officials are set to attend the Bitcoin Roundtable hosted by Congressman Ro Khanna in D.C. according to a leaked email scene by me. By the way, Nick can't mind his head of news at Bitcoin magazine. So he's an authoritative source and he goes on to continue. Mark Cuban just got back to me further confirming it's true but said he didn't have any further information on it than what I have here. So there's an official Bitcoin magazine article that has a little bit more details but basically goes on to say the Roundtable is expected to feature officials from the Biden administration, House and Senate, alongside American businessman Mark Cuban, according to the email. The primary objective of this meeting is to strategize on quote, keep Bitcoin and blockchain innovation in the United States. This initiative, this is the key passage in this article. This initiative is seen as a response to former President Donald Trump's recent endorsement of the Bitcoin industry. Trump has recently become the first president to accept Bitcoin Lightning payments for campaign donations. So they didn't do this out of the kindness of their heart. They didn't do this to quote, unquote, keep Bitcoin and blockchain innovation in the United States. They did this as a response to the orange man using this to garner votes. So forgive me if I don't trust them and David Bailey makes a really good point, right? Look, Trump isn't president, but Biden is. Biden right now has the power to free Ross to the point that Ross could walk out of prison today or maybe it's too late today. Tomorrow morning, the president has that power in the US. He has the power to pardon prisoners. It's the only president has that power. So he can pardon Ross. Why isn't he doing so, right? So I would say he's pandering. David Bailey goes into more details as Dems in disarray right now over Trump's Bitcoin position have no idea how to respond. Biden is, I'm not going to get into that, but he says Warren's team has led Dems astray promising anti-Bitcoin was popular. They're not sure where to go next. No plans to change DNC platform at this time. So it's just, it's kind of funny like watching them scramble a little bit and things are getting pretty crazy. Like this was just announced like an hour or two before the show went live. The Winklevi twins are getting involved. They just announced that they're going to be donating $1 million worth of Bitcoin each, both the Winklevi. And here's Caitlin Long. Caitlin Long is, I remember when she came on my podcast, she said the denial for my bank to get a federal banking charter custodial bank for it to be competitive with other banks. And that order came directly from the White House, right? And here's Caitlin Long. She says the reasoning is worth the read. One thing I'll add, Tyler is that the Fed is also very much part of Operation Choke Point 2.0, doing exactly the things that other federal banking agencies are doing and which you described well, the rule of law must come back to the US period. So I mean, this is gathering a ton of, like a tremendous amount of momentum. This is a very long reasoning. So I don't know if I'll get to all of it, but I'll read some of it. So here's Tyler Winklevi and Winklevoss, I always say it plural. I just know donated 15.47 BTC, which is about 1 million Bitcoin. And he says, "Over the past few years, a Biden administration has openly declared war against crypto. It has weaponized multiple government agencies to bully harass and sue the good actors in our industry in an effort to destroy it. The administration's actions have been nothing short of an unprecedented abuse of power wielded entirely for twisted political gain at the complete expense of innovation, the American taxpayer and the American economy. There is nothing the Biden administration can do or say at this point to pretend otherwise." It's a really key point that last part, because I think that's something to remember as they try to like signal that, oh, they're actually interested, that's bullshit. Talk is cheap, actions are expensive. Goes on to say, "Some of the lowlights include the following. The weaponization of the banking system against crypto companies and their principles, knowing colloquially, as operation showed 0.2.0, this starts with the OCC, a federal agency that licenses and regulates national banks, and the FDIC, a federal agency that provides the pause insurance to banks, giving guidance and instructing banks behind closed doors, not to bank crypto companies. Is that the role of the government to do that? Is that even on paper? That sounds like an abuse of power, completely agree. Any bank that doesn't follow orders is threatened. Like, that sounds like some mafia type tactics, bro. The conversation goes something like this. That's a nice bank you got there. It sure would be a shame if something were to happen to it because you bank some crypto folks. If this tactic is not enough to scare a bank and to line the examiners will be sent into turn everything upside down. This will almost certainly lead to some finding. Show me the bank and I'll show you the crime. That results in a massive fine or a new supervisory rules and conditions that cripple a bank's ability to operate. The risk is simply too great. Banks could either choose not to bank crypto companies or have that choice made for them. Like, and then it goes on to say, these agencies have God mode over banks because they can yank their license or FDIC deposit insurance at any time citing safety and soundness concerns. Okay, one of the things that we always talk about then on simply sessions is this thing that Bitcoin exposes incentives. And I think here in the case of governments, it's exposing governments for how they currently operate under a fiat standard, which is they're not really governments by the people for the people. They're operating as if they're governments by the government for the government. And I think that makes perfect sense because the incentive structure is set up in a way where that's how it is because they don't really have to answer to their constituents. They just have to make sure that they can protect their money printer, right? So it makes sense that the system is trying to continue to protect their source of power, but it also highlights the fact that this isn't a government by the people for the people. You can't look at me with the straight face and tell me, right? After the SEC completely butchered the release of the Bitcoin ETF, you can't look at me with the straight face and say, "Oh, we're here to protect you." That's not true. They're here to protect themselves. And I think Bitcoin is exposing them for what they are. And by the way, I'm not, this isn't just an American thing. This isn't just American centric. This is happening in Europe. This is happening in Kennick. You were part of that then. You were part of the fucking freedom fighting that happened over there. This is happening worldwide. This is the separation of money in state. And unfortunately, a lot of people hate to talk about politics because it's ugly and I'm gonna give the warning once again, the orange man and the orange man triggers a lot of people. But the reality is that the orange man in RFK, the guy that I can't pronounce his last name in Canada, Polivar, or Polivar, but I just always call him Polivar. Polivar, Polivar, Polivar, Polivar, Polivar, Polivar. Right? They are pro-Bitcoin, anti-CBDC, and the guys that they're running against are anti-Bitcoin and pro-CBDC. So from a Bitcoiners perspective, I know we all dislike politics and I know we all believe in the theory from the sovereign individual that Bitcoin will make politics irrelevant in the long run. But the reality is that this election year in the United States and Canada does have consequences for the regulatory environment of Bitcoin in those specific countries. Yeah. Yeah, if you don't like the current trajectory, I mean, you know, what is one to do? Like, I get that election promises can be broken, but when the messaging from one side to the other is, we're gonna shut this down versus we're gonna try and let it grow freely. Then, I mean, are you gonna go with the people that are saying, oh yeah, we hate this and we wanna basically run it into the ground. I mean, that or just don't vote, I suppose. But like those are kind of your options. It's like, are you gonna vote for the people that are openly antagonistic to something that you love? Are you gonna vote for the people that are giving positive messages about the thing that you love or are you going to just refrain and just kind of see a shakeout? So I mean, there's the choices and whatever choice you make, I guess that's your choice to make. There you go. Exactly. And I would ask the audience 'cause Ben, I know that you've experienced this. I've experienced this too. Like the social issues we have never brought up on the show. I've never brought them up. I think they're irrelevant to this discussion. I think the social issues are a symptom of political money. I think if you wanna fix the core issues in society, I truly believe Bitcoin will bring society together. I think the differences between people are so slight. And I think the reason that people care so much is because the economic system is so fucked. But like the social issues, I truly believe it's divide and conquer. Like I truly believe like that's how they just divide people and they'll be like, oh, it's the red guy, it's the blue guy. It's a conservative, it's the liberal. And then the both parties just print a ridiculous amount of money and just steal from everyone. So I think Trump and Polyvera, and basically it doesn't matter right or left politician, if they're on the side of Bitcoin and it's not even supporting Bitcoin, it's just giving Bitcoin time to do its thing. It further advances our goal, right? And that's the way I see it. I think getting into the political discussion of all those hot button issues is just a distraction and it doesn't really help anything. 'Cause everyone's so entrenched with those topics. - Yeah, I mean, you see the political pendulum swing back and forth, I've seen it swing back and forth many times in my brief stint on this earth so far. Maybe not so brief, I'm getting up there. Children are aging me, but (laughs) but nonetheless, it's gonna swing one way, it's gonna swing back the other, but again, yeah. And I would agree with lightning goats here, fiat issues, 100%, fiat issues, it is what it is. And if we get a little bit more runway for developers and individuals to build out Bitcoin, to make it much more resilient to top down pressures, then sure, I'll welcome that runway because at the end of the day, I think a world running on a Bitcoin standard will be far more free and far more beneficial to everybody as a whole, not just Bitcoiners now, but even the last person that decides the last person on earth that adopts a Bitcoin standard, while they won't enjoy all of the previous, the previous gains to the point of everyone else, they will still benefit from having adopted a Bitcoin standard. So if something moves that forward, then wonderful. - Exactly, exactly. And hit the nail on the head, bro. Like, look, we have a mission, fix the money, fix the world, this will make politics irrelevant if the world transitions to a Bitcoin standard, but unfortunately, during the transitionary period, you have to deal with the orange map. (both laugh) - Yeah, it is, but it is. So in other news, we got about five or so minutes left. One of the things I always hear is an ego on my late to Bitcoin. And I went down this rabbit hole, and one of the things is sailors response to it, but it wasn't the direct response that everyone is used to, where he kind of gives up that example of New York City and how you should buy, like buying Bitcoin is like buying property in Manhattan and blah, blah, blah, blah. This is kind of like an indirect type of thing. So if you think you're late to Bitcoin, I would suggest watching this video. Let's check it out. - We talked, we went to Harvard Business School, and they taught the micro-strategy case study. And the professor calls me and says, well, you know, the students are really excited. They studied the micro-strategy story. This is after we done it and after it worked. He said, we studied the micro-strategy story, so we'd like you to come in and talk to the class. This is the greatest business school in the United States, maybe the most famous business school in America, the best and the brightest. You have to be the best students. So this is what happens. I go to the class, I zoom in, I said, yeah, well, I mean, the company was at the end of the line. We were gonna have to sell the company. It was the enterprise was worth $600 million. And we were at our Whitson. We tried everything we could possibly do for a decade. It didn't work. So finally we adopted the Bitcoin standard, you know, and we quadrupled the stock price and the shareholders made billions of dollars and the employees all made millions of dollars and everyone's delighted and happy and is good for Bitcoin and good for the company and good for the employees and the customers are happy. And now, you know, and this is back when micro-strategy had a market cap of maybe $5 billion or something. Today our market cap is more than $30 billion, you know, a few months later. (audience applauds) The professor goes, "Okay, you've heard the CEO. "What do you guys think? "Would you do it?" And he takes a survey, first student. I don't know, seems kind of risky. (audience laughs) Second student. It seems like an inappropriate use of shareholder funds. (audience laughs) Third student. This isn't normally done for a student. It kind of violates, you know, convention and corporate finance. Fifth student. We really can't see, you know, any major company doing it. I swear. I watch 10 students. So, okay, so this leads me to the next part, right? So if you think you're too late to Bitcoin, you just literally heard a story from the child sailor himself basically describing in real life this meme that we all come to love and know on Bitcoin Twitter, which is the left of the bell curve, 250K, bro. (laughs) Iq, laughing my ass off. Imagine thinking to a 250K is realistic. And then the right side of the bell curve, 250K. I mean, dude, it's extremely fitting. And let me see if we got time here. We got a couple minutes left. I'm gonna end it with this epic, epic rant from American HODL on what Bitcoin did. Of course, Peter McCormack's an excellent interviewer, and he asks, "American HODL are we late to Bitcoin?" And his response is absolutely epic. All right, there is one other thing I wanna tap into with you. You talked about people thinking they're too late on Twitter recently. Oh, yeah. You go behind that. Yeah. So when you first came to Bitcoin, didn't you think you were too late? I've said this over and over. Every single time I've ever bought Bitcoin. Yeah. I thought it was expensive. 100%. When it was 80 pound, I was like, "What the fuck? 80 pound for this digital thing?" Came back in 2016. It was 600 pounds. I was like, "Fuck, it's expensive." And there's never been a time. I thought, "Oh, that was cheap." Every time. I totally agree with you. Apart from one day, March 2020, that's the day where I was like, "Fuck, this is cheap." It's cheap today. Yeah, yeah, yeah. When it went to 3800, yeah. Well, that loan I took. Yeah. I knew it again. But I didn't feel like it was cheap. No. I still think, "Fuck, no, 70 and a half grand." Yeah. I made my first buys at like 220, right? And when we're looking back on $220 Bitcoin, it's like, "Holy shit." It was basically free Bitcoin. They were just giving it away. But at the time, it was so expensive in my mind. And I kept thinking about, there were all these stories you were hearing about the guys who had got it at a quarter and a nickel or they mined it for free on their laptop. And I was comparing myself to those guys, right? And so I think when a lot of people are having conversations today and, you know, they're talking about Bitcoin, I hear this all the time from like, "Normy friends or whatever, neighbors, friends." You know, they basically go, "Man, good for you, man. I missed it, though, dude. I missed it." You didn't miss it, man. You didn't miss it. I mean... Do you know the answer to that question? Because I got a text yesterday saying for somebody saying, "Oh, I think I'm too late to buy some more." I always just reply, "Well, I'm not selling." Yeah. So what do you think I think? Well... Or people want the most annoying one is people want to know the next Bitcoin. What's the next Bitcoin? Like, "Dude, it's Bitcoin. Thanks." There is it. The fucking hate that question, my God. But no, I mean, the answer I say is just, "Hey, listen, you know, it was really expensive for me also. I felt like $200 Bitcoin was expensive." And like, I know that's a mind fuck when you hear that today. But eventually, here's the framework to think about. When the price moves $200 today, I don't notice it. It probably moved $200 a hundred times while you're having this conversation. I didn't notice or care. It doesn't mean anything to me. And eventually, one of these days, the price will move $65,000 and you literally won't notice or care. And I know that sounds stupid, but that is going to happen because are you really going to notice a difference between 2.62 million versus 2.68 million in your account? No, you're going to look at it and you're going to go, "Ah, still 2.6, still doing good. You're not going to really care about the 60 grand." So like the 60 grand, believe it or not, is de minimis. It's a rounding error. Even though it's- I want to leave it at that. Anyways, you are not too late to Bitcoin. American Hottle has a way with words. Direct answer to that question, Michael Saylor, an indirect answer to that question. Apply the meme. Memes are life. Life are memes. And yeah, man, anyways, glad to be back in the hot seat, dude. This was your simply sessions for June 20th, 2024. And I think next week we're going to be doing it in person, bro, or the week after? The week after. The week after. The week after. But we'll be doing some stuff from the rodeo, and we'll- you're here for, what, a full week. So we're going to get in a few things, I think. It's going to be a great time. I'm going to finally have maple syrup and fight a moose. It's going to be great. We're going to go for French toast is what we're going to get. Okay. The poutine, the French show, man, you're making me bigger. Okay. Okay. We're going to hit the gym down the block for me too. Okay. Sounds good. All right, everybody, this was your simply sessions. All right. Everybody else, please do stick around. We're going to be hitting up the tech updates as well. But first, we're going to do a quick shout out to our sponsors, we'll be right back. On your mobile device, they allow you to set up a full multi-signature vault. And once it's done, you have baked in inheritance planning so that your Bitcoin gets to your next of kin if anything should happen to you. On top of this, the entire thing can be set up with devices like the tap signer, the cold card, and plenty more options. And the whole thing can be done without KYC. You don't need to give up your personal information to have it set up and working for you. You can check them out today over at nunchuck.io. Debbify.com allows you to borrow against your Bitcoin in a non-custodial way. Collateral is held in a three of four distributed multi-sig with trusted parties. It provides institutional liquidity providers, loan periods with flexible conditions, and the best rates. And best of all, no re-hypovocation of your funds. If you want to check them out today, head over to Debbify.com or hit the link in the show notes down below. All right, now with that, let's take a look at some of the tech updates. A couple of the things that have been going on. First up, Envoy app. You can now buy Bitcoin, redeem BTC-Pave vouchers, and more. So Envoy 1.7 is here. One of our biggest releases ever. Starting today, you can buy Bitcoin directly into self-custody with a few simple steps for more easily redeem Bitcoin vouchers from both as TECO and BTC-Pave servers and discover new peer-to-peer note KYC exchanges. At the core of this update, Envoy is a brand new integration with RAMP allowing Envoy users to seamlessly purchase Bitcoin with debit cards, credit cards, Apple, Google Pay, and more directly with their Envoy accounts. And then Foundation never has access to any of the information about your purchases, so on and so forth. Yeah, so buy Bitcoin straight to self-custody, redeem BTC-Pave vouchers, discovering peer-to-peer exchanges, support for signet, nodes as well, and new fee overspend warnings. And that is that. So moving on from here, LND versions prior to version 0.17.0 are vulnerable to LND onion bomb denial of service attack. If you're running an LND release older than this, your funds are at risk update to at least version 0.17.0 to protect your node. So the attack is cheap and easy to carry out and will keep the victim offline for as long as it lasts. The source of the attack is concealed via onion routing. The attacker does not need to connect directly with the victim prior to LND 0.17. All nodes are vulnerable, the fix was not backported to the LND 16 series or earlier. Yeah, it's a trivial tool for an attacker to craft the onion packets and so forth. There's some technical details here. But more or less, update your LND node if it's prior to 0.17. Please do. Moving on, brains launched mini-minor BMM 100 Bitcoin mining tech provider brains launched its mini-minor BMM 100 for home miners at BTC Prague. I got to take a quick little peek at it very briefly. I'm going to have to maybe get one of these and play around with it. But it's a compact sleek and discreet device that may easily blend into your living room decor. Ooh, fancy. But don't be fooled by the modest appearance. It's still boasts cutting edge technology. Simply plug it in and let the sat stacking begin announced brains. The mini-minor comes with Stratum V2, allowing you to enjoy increased security with end-to-end encryption and reduce data loads as soon as you activate it. The display can be customized to track your own mining data, monitor the Bitcoin price or serve as the most interesting desk clock ever. I want me one of those desk clocks. It looks pretty. Let's look at the picture. There we go. That looks pretty, right? Maybe I shouldn't. I mean, it's sold out. Just pre-orders, we'll go with the pre-orders. Yeah, maybe I'll play around with that. I think it'd be kind of cool. I would treat these things as like a hobbyist thing if you've got expensive. If you're in a city, you're not going to be making money, just throwing it out there. But if you're a hobbyist and you want to play around and you want a good talking point or whatever, yeah, worth checking. Moving on. Actually, side note, I'm going to go back to this. Hold on. Log, I got to see the guys that have the Bitax, the little like Raspberry Pi. Is it a Pi? Yeah, I think it is a Pi. But they've built like a Bitcoin miner out of a Pi and then there's the Nerd miner as well. Anyways, I picked up a couple of those and they're very much just like hobbyist things. And you're never going to make money, but what it is, it's basically in lieu of buying a lottery ticket. You just solo mine on one of those things, you just plug it in and you leave it. It doesn't take very much power and you just leave it there. And it's kind of like you're just forever playing the lottery, but with better odds. So anyways, I'm excited to play out bro, I'll make a video on one of those. Moving on, Umbral OS version 1.2, Wi-Fi support revamped live usage. Okay, so let's see here. This update introduces Wi-Fi support of revamped live usage experience along with several enhancements and bug fixes, Wi-Fi, connect your Umbral to Wi-Fi by going to Settings, Wi-Fi and choosing your network, live usage, real time CPU and memory usage charts along with faster and more accurate usage results. And yeah, some stuff and around SSDs for your Pi 5, if you have one, some bug fixes, things like that. But yeah, that's cool. Moving on, Trezor. So I got my hands on one of these actually. This is the safe 5 and it's their new hardware device. So it is basically meant to replace the Trezor Model T, it's the updated version of that. We already saw the Trezor 1 replaced with the Trezor Safe 3. I don't know the numbering, like why they did 3 and 5. I wonder if they're going to do 4 and 6 next and then what do they do? Anyways, side note, side grip. Okay, so the device is priced at $169, nice and comes with either Bitcoin only firmware or multi-coin support. The company also launched a new Trezor export onboarding, an expert onboarding service for new customers. So yeah, it has a Gorilla Glass touchscreen display, haptic engine, so like the haptic feedback, it has a secure element as does the safe 3. So if you are getting a Trezor, get either the 3 or the 5 because both of those have a secure element, anything before that, the older versions, those do not have a secure element. Meaning that if somebody gets physical access and they have the know-how, they could extract your private keys from the device. So the new ones, that is no longer an issue. It supports both regular 12 and 24-word bit 39 backups and the Shamir Secret Sharing Base Multi-Share Recovery Scheme. The new backup process enables users to upgrade from a single share backup to a more advanced multi-share backup. So that's cool. Again, the onboarding, you can book an onboarding Trezor expert session that you can pay for. And then, yeah, that's pretty much it. I mean, you guys don't really need to know the specifications of the RAM and everything in there. But yeah, new Trezor, congrats Trezor. Moving on, BitKit Wallet officially launched on the App Store is Synonym. This is John Corralo's company, the BKesh BK, you know him. Synonym is proud to announce that BitKit, its self-custodial Bitcoin wallet, is now moving from beta testing to general availability in App Store. Over the past months, user feedback has been guiding BitQuiz developments. Leading to bug fixes and usability improvements, BitKit team is working with lead Bitcoin companies to establish interoperable standards for lightning service providers. So yeah, there you go, maybe I should give the, I did give this one a try back when it was kind of in testing phase, and I could tell it was in testing phase, you know, like there's, there are issues to be dealt with and it was, but you know, I'll give it, give it another go, maybe we'll make a video. Moving on, hey, I'm going to be in Riga. I'm very excited about Baltic Honey Badger. It's going to be a lot of fun. So I know I just got back from Europe, but I will be back there at the end of August. So this is August 24th and 25th. Also there's Nastriga, the Nastriga, part of that just before, I believe it's the 22nd and 23rd. So anyways, if you're in Europe and you're thinking about hitting up an event, this could be an excellent option for you. Baltic Honey Badger has been around for years. I last went in 2019, so it'll be really cool to get back there. Again, it's been five years by now, and it's going to be a lot of fun. So yeah, check out it's baltokhoneybadger.com. I have a code, BTC sessions, BTC sessions everywhere. But anyways, you can get a deal on your tickets if you use that code. So yeah, come chilling in the Baltics with me. That'd be awesome. And speaking of coming to chill with me, come to Calgary. I already mentioned it, but come to the Bitcoin Rodeo, BitcoinRodeo.com, same code, BTC sessions. And yeah, I can't wait. It's going to be a lot of fun having people here where I live. And yeah, with that, I'm going to round it out. What do I have to tell you? I guess nothing else. I will just say, of course, like, subscribe here, all those things, they help a ton. If you're sorting through the tutorials on the channel, by the way, and you need some additional help, make sure you hit up my team at bitcoinmentor.io so you can book yourself one-on-one sessions to help with wallets, key management, hardware, multi-sig, running a node, lightning, home mining, even if you're getting into hobbyists, stuff like that, you can check it out. And one thing I've noticed as I've interacted with people, I find that sometimes Bitcoiners can get to a space where you become, like, Bitcoiners are thought of as forward-thinking and jumping on something early. But you also get a form of Bitcoin Luddite, right, and I'm sure everybody will feel this a little bit when I say it. But you can get to a point where you're like, I've learned my way of doing things and I'm not going to try anything new. And then you get to a point where you're like, oh, God, there's all this stuff, and I totally don't understand that. Don't feel too scared to ask questions. The only dumb thing to do is to not ask and not to continue learning. So anyways, that's why I set up Bitcoin Mentor as well. If you're worried about, you know, publicly asking about stuff or you're, you know, don't never be embarrassed to ask and learn. But you know, if you want somebody to sit down with you and teach you something new or upgrade your setup or move away from like ledger or something and get on a cold card or whatever it may be, then, you know, hit up Bitcoin Mentor.io, they will help you through. And yeah, those guys are legends and they are more than capable of getting you safe and secure. Anyways, I'm going to wrap it there. Thank you guys so much for being here. Again, really do appreciate you guys like, sub, share, all those good things. And we're going to be back tomorrow. By the way, we're going to have some guests from the Bitcoin rodeo tomorrow on why are we bullish? I'll give you a sneak preview of who's going to be here just so you know. So number one, we're going to have Mr. Dave Bradley, aka Bitcoin brains. He was the co-founder of Bull Bitcoin. He also has worked and continues to work with Bitcoin well. He also had the first physical store on earth where you could walk in and buy Bitcoin with cash, which is pretty wild, and it was in my hometown of Calgary. So he's going to be on the show. Also, we're going to have, where'd he go here? There you go, Mr. Scott Deedles. He is CEO of Block Rewards, a company here in Canada helping companies with their Bitcoin and with their payroll and all kinds of great stuff, basically just helping companies onboard a Bitcoin. And he's a legend. He hosts his own pod as well. He's going to be on. So before, and he's also frequented to the Calgary, uh, sat market. So awesome dude there. And then the other big guests, I'm very excited about Mr. JP Sears, JP Sears will be joining. Why are we bullish tomorrow? It's going to be a hell of a time. Uh, this is actually I've kind of, you know, had some degree of interaction, I guess, online at some point, but this will be my first time actually, like having a convo with them and having on the show. So, uh, that'll be exciting. And then I'll get to hang out with him in person here in Calgary. So that's going to be a lot of fun. So make sure you tune in tomorrow night at six p.m. Eastern time, uh, to partake in why are we bullish with Dave Bradley, Scott Deedles and JP Sears. It's going to be a blast. Anyways, with that, I'm going to wrap up. You guys have yourselves a wonderful day or evening wherever you may be. And I'll see you guys next time for your simply session. Bye bye. Bye bye. in the morning.