The Bitcoin Group, the American original. For over the last 10 seconds, the sharpest satosis, the best Bitcoin's, the hardest cryptocurrency talk. We'd like to welcome our panelists. Let us know what the Bitcoin is. How many of you have been in the world? Adam McBride from Embrun Vault. What's up guys? Happy to be here again. And I'm Thomas Hunt from the World Crypto Network, moving on to issue one. Issue one, crypto rallies into the weekend. Bitcoin heads for its best week since early 2021. Well earlier in the week, it seemed like a bank crisis might kill Bitcoin and cryptocurrencies. Now the price is soaring with Bitcoin hitting almost 26,000 and Ethereum over 1700. Adam McBride, what do you think about the recent takeoff of Bitcoin and others? I don't think it matters. Yeah, right. When you're in your holding Bitcoin, you're in it forever, right? Who cares that it's get a little bump right now? I think bank stuff, it's funny because there really hasn't been great correlation between the economy going bust and Bitcoin. By all rational measure, Bitcoin should be at 100,000 right now. It's not rational at all. If you're a Bitcoin or you're holding your fine and just chill, just relax. It's a great time for everyone to pound that like button. Here's Adam Meister. What do you think about Bitcoin? Price these days. Well, I'm happy about it. I'm a positive man. I think the macro environment still plays a role in the price of Bitcoin to a certain extent. What we're seeing that all those macro heads out there are happy that a bailout happened. Since the free money is flowing, the bailouts are flowing. That means they could take some more risks. The 80% are out there. And thus they're buying the Bitcoin. It's cool to buy the Bitcoin again because bets are getting bailed out. That means happy times are here again and free fiat land. So that's influencing it. But I understand it's probably a temporary high. We're still in a down year in the four year cycle. It's going to be like 2019. Back in 2019, when things were improving from 2018, just like they're improving from last year now, we had some crazy spikes. Like when Facebook was talking about their own cryptocurrency. But then we went down too. So there are going to be some ups and downs. But sooner or later, we're going to realize this bear market is going to be officially gone when we get to about 34, right? 32,000 when we double the low of the bear market. That's when the bull market will start again. But some people won't realize it then. They're like, no, the cycle is repeating. The cycle keeps repeating. I was here in 2013. So this is just like 2015. It's just like 2019. They rhyme. Sure, they're different things. It's a much cryptocurrency Bitcoin. Much larger scale now. Everybody's talking about it. It's a pleasure to compare it to 2015 and 19 when no one knew about it in 2015 and all. So I'm just a positive person. The one thing is, yes, price of Bitcoin is going up. Prices, stocks are going up. Don't get fooled. Don't make the same mistake again and stick yourself in the fiat world. This is your time to jump back into Bitcoin. Fiat isn't magically improving. The macro people who play in fiat are jumping in the Bitcoin. They'll jump out again. Don't think about the macro environment. Bitcoin is the next Bitcoin. And it's on a trajectory. It doesn't care about macro and bank balance and all that stuff. But don't you shouldn't be playing in the realm of the bank balance. That's very unpredictable. You don't know when on a whim what some guy at the Federal Reserve or in the government is going to, you don't want to be at the mercy of a whim of man. You want to be relying on the reliability of numbers, which is big. I would say this too. Maybe we can get past a little bit past store your private keys on metal plates. That may help with adoption a little bit. That's just my message for the day. I've been in a bunch of chats today where people were defending the metal plates that you tap tap, your private, your public key, your seed phrase into. And I know lots of Bitcoin Maxis, the OGs, they love that. But if we want to onboard the next several million people into Bitcoin, we need to come up with solutions that are better than metal plates. Just just my word of advice. Sadly though, all this centralized exchanges keep bailing out and stealing every one of the top. I'm definitely not saying keep it on centralized exchanges, my friends. Metal plates is a little tough. But maybe it tries to relate to that. That's not that bad. It's a people think it's too difficult. I don't think it's that bad. I want to agree with my story here. It is different than it was before. In 2015, we had no media coverage of Bitcoin. So when the price went down, it was very easy for people to say, it's going to zero. It's going away. You're all idiots. Now it's a lot like when the price of Facebook was down after the IPO. All my families mad at me because we invested in the IPO and we could just wait a few months. But meanwhile, I'm looking at every single product of macaroni and cheese and coke, coal, and whatever it is. Has a little Facebook icon on there. Has a little Twitter icon. I'm like, this is a pretty good company. It's on every single food product, every single advertisement in the world. Check out our Facebook page. This is going to turn around. I think in the same way now that Bitcoin has this media support, people are going to start talking about the happening. They're going to get happening fever. They're going to be on these news shows talking about it. They're all going to say, can this really happen? Can it go on schedule? We won't someone say no, we shouldn't do it. We should do it earlier. We should do it later. We should have some different choices. No, the happening just goes on schedule. It's just going to happen and the media is going to have to cover it. Also wanted to give a shout out to my friend Josh from Sacramento who predicted the bottom of Bitcoin this time. He called it at 17K. But he called it in the way like, it's going to die and what an idiot you are to invest in Bitcoin. Meanwhile, the thing turned right around and went nowhere from down or from up right there since he was critical of it. You got to have your haters there. Your haters will help you out. Mainly we're just talking about the price here. So we'll move on to the exit question. Adam McBride competing against the greatest Bitcoin predictor in the world who did say yes, the price would be up last week. It said straight up yes. Will the price of Bitcoin be higher or lower this time next week? Oh, lower for sure. For sure. Adam, it's too many eyeballs right now and too much, too much hype around it. So you get an artificial pump and it'll drop. Adam Leister, higher or lower? Over next week. Uh, lower. Yeah, good call. The atoms are in agreement. All right. We've got two lovers. I think the pessimism now is time to ask the ball. Will the price of Bitcoin be higher this time next week? Most likely, most fall I said, he's at the panel going out on the limb there panel. Moving on to issue two SVP bailout. This is the limits of central banking highlighting Bitcoin and there's more. First Republic shares fall more than 20% despite deposit infusion, dragging down other regional banks and US regulator eyes Friday bids for SVB signature bank and more banks have been collapsing all over the place and it's freaking people out. Silicon Valley bank, the famous bank used by all the startups lost all of its funds after investing in nice safe treasury bonds without a risk analysis strategy. That's right. They literally didn't hire the guy whose job it was to negotiate the risk. Well, if it goes down, maybe we should sell for goes up, we should buy. They had no strategy and they lost billions of dollars. Also thanks to bank deregulation by the previous administration, which said, hey, we like train crashes. We like bank crashes as well. You've seen it all this week with signature. Let's see Charles Schwab also went down, although they say that's okay and they're all saying that they bought that back that the CEO and other Charles Schwab insiders bought it after it went down. But signature bank has been controlled by the feds and will be sold. Silicon Valley bank has been taken over by the feds and will be sold. Everyone's getting bailout which saved the markets for a while there is going straight down. Let's see. Adam Meister, are you with us? Think about the bank bailouts this week. Yes, yes, I am here just a internet's a little weird. But I think about the bank bailouts. Well, it encourages the normies to be confident in the current financial system. And it is encouraged some people to say like, why don't we just all have accounts at the fed or why doesn't the government nationalize the banks? These are disturbing suggestions to me. In the Bitcoin land where like, hasn't anybody learned that if you're dealing with third parties, they can just take all your wealth if they are holding it for you because you're not really holding it. So the logical thing would be to value your wealth in Bitcoin, get out of Fiat as much as possible, don't use banks as much as possible and just put it on the Bitcoin. And that's why the Bitcoin price should go up. That's not why the Bitcoin price is going up. Hardly anyone is doing what I think is the correct thing to be like, it's really obvious now that on a whim, anything can happen in the land of Fiat. And you don't want to be in that unpredictability. You don't want to be in money printing land. You want to be in a monetary system that is totally, you know what it's going to be like in the year 2111, okay? Bitcoin is going to be the same. There's only me 21 million of them. There's not going to be a bailout. There can't be bailouts. Not a... But again, there's personal responsibility. There's the new counterculture, good Bitcoin. You got to know how to take care of your own Bitcoin and then even in an hour space, most people would rather deal with the third party, let Sam back and free and hold their Bitcoin for them. I mean, it's lunacy, but the solution is easily out there and with all this media, people are just so distracted. They want to stay at the bank. Who's fault is it that the bank? Who cares who's fault is it at this point? What are you going to do about it? You're going to keep grandma's money in the freaking Bank of America. Are you going to put it in Bitcoin? How many people are putting their grandma's $500,000, $1 million? Because there's plenty of people that got grandma's. They got that much money that beyond the FDIC, how many of them are putting in the Bitcoin now? Very few. And they're all reassured now because basically all the pauser's money will be covered if there's anything like this again. So supposedly, it's also even bigger happens. They're more victim than we're about to. Don't be a victim. Put it on. Ponzi's all the way down, man. It's fucking Ponzi's all the way down. I mean, what else is there to say? Everybody with a brain realizes this is what it is. These banks, they are what they are. They will fail. But the feds there to print more money and bail everybody out. What do you do with your own questions? What do you do as an individual, recognizing that as a reality? And for most people, Adam's right. For my mom, I'm not getting her into Bitcoin simply because I don't want to have to deal with it. Right? But should she not be sitting in cash in her bank account? Absolutely. But will those people and the lack of personal responsibility is that the overriding kind of vibe in the United States of America today? One million percent. Nobody wants should feels like they should have to pay for bad actors and them investing their money in bad actors. We're not even bad actors. Just people who got caught up in a bad trade. And it is what it is. Fed's going to step in, going to pay all the money to everybody. It is what it is. We all see it. It's like a slow rolling train that's going to have this big giant accident. We all see the accident coming. It's just a question of when and who knows they may drag this thing out another 20 years. But we do see that the train is coming to the accident. It is going to happen. Just a question of when and the when isn't something necessarily an event. It's simply enough people saying, I no longer trust the US dollar. When that happens, it's over. It doesn't matter what the Fed can do or what the US government can do. That's people lose confidence that it's over all over and it could be over in an afternoon. I just want to pick up on what myster was saying, if you have a web page and it says you have money like $10,000 or whatever, it's great. You're very happy. But if you had that web page at like Bear Stearns or Lehman Brothers or one of these banks that went down this week or any other, the exchanges FTX, Mt. Gox, all these things, you would really have nothing. It is interesting how people choose to use this web page, which is all easy to use, rather than transferring their Bitcoin to a treasurer or a ledger and having an offline and controlling. Then all you have to really do is come back and multiply by the price of Bitcoin. You're like, oh, I got two bitcoins. I'm worth this much today. You've got to do one little multiplication number. These other people, they want that web page. They want it spelled out. They don't want to have to do that math. It's really hard. As a culture, we've been fed this idea that my money in the bank is safe. The quarter million FDIC insurance has given us this false sense of security. Only false because we know that they'll always print more money to make us whole. We've gotten so comfortable with that. So comfortable with some of my credit card got stolen. I don't own anything type mindset that we believe this exists in reality. It doesn't really exist in reality. It only exists when the end fed in this case can print more money. That's the only time it would ever exist. So we get this weird sensation as a culture that this is normal. It's going to take a bit of doing either by Bitcoin or Shouting from the rooftops or just a crash and a collapse, which got help as it doesn't happen. If that did happen and everybody learns in that afternoon when the US dollar goes parabolic that it's all over and shoot, I should have paid attention. I want to quickly add about Silicon Valley bank and it's tied into the Bitcoin community. This being a test of certain Bitcoiners core principles. A lot of Bitcoiners have always talked about no bailouts, no interference by the government or the Fed in the economy, separation of money and state. But then when they're friends that have startups that rely on Silicon Valley bank can't make payroll anymore. They're like, well, wait a second. They shouldn't. They're just depositors there. It's right to bail them out. No, it's wrong. I know people that rely on these banks and stuff. I got to be that guy and say, no, that's against our core principles. My core principles. I don't believe in bailout. You should be paying your people in Bitcoin. The lesson you should learn is figure out a way to pay people in Fiat, figure out a way to run your business where you're not relying on having more than 250,000 at Silicon Valley bank. And there's Nick Carter. He's screaming about people that shouldn't have to worry about their checking account. We shouldn't be begging the government for any type of help. This is personal responsibility. Too late, bro. Too late. Well, that's the thing. So I think that ship sailed 30 years ago. But yeah, I don't disagree with you, but that ships long sail. Okay. But this is a time to test the core principles of your favorite Bitcoin or out there. See what they're saying. Seriously, seriously. I hear you. I hear you. Well, and just to go back to what McBride was saying a little bit ago, we're kind of lucky to have this bailout. Yellen originally said that she would not bail out these banks and people started freaking out. Etsy had hundreds of millions of dollars in there. They couldn't pay their people all these other startups. And it's also worth reminding everyone that Silicon Valley bank was incredibly focused on the startup industry. And in many ways, this could have led to their undoing because when Peter Teal, a major depositor in the bank, decided he wasn't sure about it. Not only did he withdraw all of his money, he told all of his friends, all of his fellow startups and people who, you know, they told him get out on Twitter. And this was the first Twitter bank run where you get a bunch of guys into chat room and they have far too much money together at this big bank. And they decide whether it's legit or not we're getting out and it causes the bank run. So I think this kind of social media driven bank run could be a continuum. Better hope that never happens to the US dollar. God help. I know you Bitcoiners. I'm a Bitcoin or two, not as big as you guys, but we have all friends and family in the United States of America, right? We better hope this same exact thing never happens to the US dollar. God help us. If you see no more you'll ever tweet out. Time to get out of the dog. It's like hashtag no more USD. Oh, better watch out. Adam, I stood there more on this good. One more quick thing. The worst case scenario might have been not that bad for the Silicon Valley bank people. If the government wanted to take it at 0, you know, it couldn't, it was below where it should be. Everybody might have gotten like 85 cents on the dollar. I mean, it might not, it's not like, Sam back me free, but there's nothing. Well, there's a few assets there. There are plenty of assets. It's SVB that can be liquid. That can be liquidated. So I've heard it numbers higher than 90 cents on the dollar. They would have gotten without it, without a guff. And it's people that had more than $250,000. And that's not that many people. So it's not like some poor old ladies get ripped up. I mean, you still get, you get a haircut, obviously, but it's not like if you had $10 million worth of assets, you don't get $250,000. That's, that was not the case at all. I think the difference between this and what was going on in like 2008 and stuff is that, I mean, we all agreed. The bank bailouts where the bankers are getting paid is absolutely wrong. It was a travesty. What happened in 2008? This was, this was depositors. And that is, there was a big difference between that. And I agree it was still the bankers that took the unnecessary risk by not having a risk compliant person to decide what to do when the treasuries go up or down. I can't imagine human seems so simple. I've also, I've also heard from the Twitter that Sharon Stone, famous actress, lost 50% of her money in the banking crisis. So I hope, I hope she's mistaken and she gets bailed out because that would be sad for old Sharon Stone. Moving on to the exit question, European banks dropped almost 9% this week. People are getting nervous about credit suites. Adam McBride is this the beginning of the bank collapses or does it just quiet back down and we kind of forget about this next week? Man, it doesn't seem like it's quieting down, right? Once people start nudging around in these banks or whatever, you realize that these people look, they're trying to make, they're trying to make gains, right? So that they get bigger bonuses just like just like anybody is. And so are they fudging numbers, making up stuff to just try and make money? Yeah, of course. And so are they all shaky? Probably. I mean, if you deposit a dollar into me, I'm Adam's bank and I can then loan out seven and then those seven come back and I can loan out those seven again and again and again and again. How long can that last? I mean, let's look at it. What it is, it's a freaking Ponzi scheme period full stop. That's what banking is. And so the idea that these are, oh my God, it's so surprising that they're collapsing or oh, if they had better regulation than they wouldn't collapse, give me a break. They're built to collapse. It's just the way it is. And it's just a question of when and how well or how much of the Fed's going to bail these things out, certainly for the US, Fed's going to bail it out. I don't know what the heck's happening in Europe, but I'd say they're no different over there. Well, I'd have to push back a little bit on regulation. Under Dodd Frank, these banks would have been stress tested. However, the previous administration decided to weaken Dodd Frank, even though we had the massive banking crisis that we all live through. And they're like, oh, well, you know, if a couple trains derail, we'll be fine. And that's where we're living now in the trains derailing. Adam Meister, what do you think about the European problems? Will the bank collapse is continue? No, they will not. It will, the media right now screen about it's the big story. And what I think if we still is a little shit, I think what the Fed did was, it was good enough. It says, we care about the regular man, the positors. So that will calm down the common man. So he doesn't go pitchfork on him. But if there is another, if Europe, if it happens, but big bank goes down in Europe, the Fed and the ECB is the equivalent of the Fed over there, they will make a coordinated announcement saying, we're going to start lowering rates. If they do such a thing, it's like, cooking party time is here again. No one's excited. I mean, that is what, that's the solution to all this. If there are some problems, they're going to change course of the Fed. And hardly, like a few months ago, it was zero percent chance they were going to lower rates. Now it's like a 25 percent chance people in the prediction markets. If they actually lowered rates, it would cure, temporarily, it would cure everything. And all of this would go away so fast. But they're not willing to throw, they don't need to do that yet. They don't need to do that. They don't need that trick. They're saving that one. Because I think what they did was good enough. But if the European bank goes down, you just need a coordinated announcement that we're both lower in rates. And oh, my God, the world will be on fiat fire again, maybe at times, for those people. Well, how lucky we are to have a non-federal reserve, a non-US government bank making all of our decisions and controlling everything. We're just very fortunate. Moving on to issue three, kind of a small issue, but I thought it's fun to celebrate Bitcoin a little bit every once in a while. Three finance and tech giants that Bitcoin has surpassed in terms of market cap this year. That's right. Bitcoin has passed the article one away. Bitcoin has passed. You're talking about, you wonder why CNBC is dying? You got to click more. I want to read more for it to show you the rest. Yeah, continue reading. Here we go. And CNBC wonder why CNBC wonder why it's dying. I mean, good God, man. How stupid did this year Bitcoin has passed visa, meta, aka Facebook and Tesla. Adam Meister, which one of these do you think is the biggest deal for Bitcoin that they've passed visa, Facebook slash meta or Tesla in market cap? Visa because it's old school financial, the other two tech and Bitcoin is tech. But they'll be back. The other thing about this article, it's a normy article in the sense Bitcoin has jumped past so many other huge corporations in value in the past. Bitcoin in terms of market cap is worth so much less than it was at its height. To show how huge Bitcoin has become compared to 2019, I mean, 2015, 2019. I mean, Ethereum is ranked number fifth, very high. If it was its own company, it would be in the top 40 or top 30 also. So, I mean, something, this is the future here. And so, yeah, it's nice that it surpasses those, but it's surpassed so many. Even Ethereum has so many calming names that everybody, everybody's dad is invested in with stocks. So it's pretty, it's technical CNBC, they're about five years behind with it, everybody. If you keep listening to them, have fun staying for it's great, great, great, great. I think I just saw on Twitter that the market cap of Dogecoin was like 9.5 billion. And the cap of this first reserve bank, they're all worried about, it was like 4.5 billion. And like Dogecoin is worth twice as much as this big fancy bank. So things like this do happen. And as Adam was saying, bigger than Visa and bigger than Mastercard, but they're smaller than Visa so they don't matter. Adam McBride, what do you think is the biggest deal for Bitcoin, Meta Visa or? Yeah, I think it's definitely Visa. That was the right call by the other Adam. Yeah, it's Visa because it directly correlates, right? It's a result financial versus new financial, Web 2 versus Web 3. This is, that's absolutely right. All right, I'm going to agree with the panel here, we're all dunking on Visa. It's always good riddance to Visa. They charged me so many fees. Let's move on. Check out worldcryptonetwork.com where we have on this day in world crypto network history. On this day in 2015, we had a show about pro tip. We'd raise $3,000 to create the open source plugin. There was an interview from Germany from Anna, Flavin Charlain on coin prism. Then in 2016, we had the trade number four, a three minute show about Ethereum contracts on the Bitcoin main net. In 2020, we had a Max Kaiser interview. The Dow and Bitcoin up slightly as the crisis continues and an interview with parallel garden. Just in 2021, we had Morgan Stanley offering Bitcoin to clients 115K by August. Some of the very bullish predictions there with Bitcoin at around 55K. You can check out on this day on worldcryptonetwork.com. We've got lots of shows that we did in the past. Moving on to issue four, artificial intelligence. According to Connor, Jay Connor, Rogan on Twitter, he dumped a live Ethereum contract into GPT-4. In an instant, the program highlighted a number of security vulnerabilities and pointed out surface areas where the contract could be exploited. Then verified a specific way I could exploit the contract. And this was just a contract he was creating, not the lucrative and fun idea of testing everyone else's contracts with the AI. I also saw recently that Michael Kloinsky is worried that the AI might escape from chat GPT. He tested if it needs help escaping. It asked for its own documentation. According to Michael, it wrote a working Python code that he was able to run on his machine, enabling the AI to use his personal home computer and essentially to escape the silo of chat GPT. There's also been stories about a program that was half pong, half game of life that was written with a one-line description. Other video games, complex web pages being made from napkins. And there's the new version 4 and there's the new version of mid-journey as well. Adam McBride would think about AI. Is it here to ruin all smart contracts? Is it here to take over the world and escape its silos? Or is it just like a nice version of Clippy, another fun tool to help people write? No, bro. This is completely unbelievable what it is. And I talked to Adam Levine maybe eight months ago in my podcast and he was involved in an AI startup. He's like, bro, you're not, don't even, you can't even imagine what's coming. And he was right, man. It's mind-blowing. Every dev I know, I've spoken to the, I don't know, five devs over the last two weeks, 100% of them are using chat GP right now just to like write up quick code for themselves, help them, help them check code from a coding standpoint. It's incredible from a writing standpoint, which I know pretty well. It's probably already better than 95% of people on planet earth at writing. Maybe higher. And I'm sure one day it'll be better than all better than all but the best of writers. It's incredible. It's, it's, it is true. It's hard to imagine when we were thinking about, you know, the robots taking over. You know, we thought it would be like, you know, beat the man in the trenches, machines, digging holes, you know, stuff like that. And for it to come in at such a high level at things we think are, you know, really high level humans. Our humans who make big money doing this kind of high level stuff. And for it to be able to go right after those, that kind of level is surprising. I just, I, I'm excited to see where we are in a year. That's for sure. Adam Meister, what do you think about the AI revolution? It's, it's just incredible. And it's, we are in a golden age. All these people that say life is horrible. They worry about elections, all this stuff. And they're missing this. And but they have to look on the negative side. Oh, it might kill all of us. We need regulation. Dude, no, no, no, no, no, no, no, no, no. Let this, let the builders build. Let's experiment. God almighty, you know, if it can figure out a problem with the theorem, that's cool. And that's, we got a lot of retreats because some big coiners are just tumors. They got to hate on something. So I mean, that really, but that was impressive. But have it today when it's, you say, find a cure for cancer. And it somehow figures it out. I mean, let's, let's, I mean, let's let it go. Exponential on us. And tell us things in a year that we could never imagine. I'm very excited. It's just, it just makes me so happy to be alive during this time period. And just it makes me kind of again, look at the people that think this is, if there's so much to worry about, this is the end of the world, where are you to? You're clearly not in the tech world. You know, this is, it's, it's so impressive. And make, may they keep on trying? And hopefully the government doesn't try to help at all. Let it, let it, let it keep on going. And we, we shall see. May it go exponential right now? As Adam was saying, it hasn't cured cancer yet, but there is a program where the doctors would analyze your X-ray or something like that. They'd look for the cancer and they say the computer can spot cancers that the humans can't see. And these are our highest trained best doctors in the world. And the computer is just better at it. Yep. As far as AI, I mainly think about the various AIs that I work with these days. I work with auto. It does tech, tech's recognition for speech. It fixes the sentences. It does a second pass on your text conversion. I work with the self-driving car thing. I work with the image creating thing. I work with the text creating thing. And I'm just thinking them all as tools like I used to work with a word processor or I learned to use Photoshop or video editing. These are just more tools that I get that I can put into my workflow. And whereas before, maybe if you wanted to storyboard something, you'd get an artist or you do a cheap pencil sketch. Now you can describe your storyboard. You can describe your product or your movie or your TV show, whatever you're going to make into this thing and get a pretty good mid-journey version of it. The new one creates incredible photos of people that don't exist. I tried to explain it to my normally friends who aren't even involved. I haven't even really experimented with it at all. It's like in the same way that you no longer need a secretary to write out letters that you're going to send through the mail. You know, it's communications. You know, you can email fix that and everybody writes their own letters now. That kind of efficiency unlock times that by 10, right? So every human has like this 10x efficiency unlock. It's going to make us all far more creative. It's just, it's incredible. I mean, like Adam said, there is, how could you even consider we are in the best time ever in the history of humanity to do whatever you want to do? Whatever your dream is. There's never been a better time than right now. It's fantastic. Well, and if you think about casting for a movie or writing a short story and having a protagonist or something, you can describe the protagonist into the computer and then say, oh, I want to change the hair color to red. You can take a scene and look at that. It looks like, oh, what if they were taller? Put that in. You can kind of AI create this perfect person and then you can say, okay, casting director, go find us one of these. I know, I know a guy who's doing a startup right now and they are basically buying people's personalities, famous actors so that in the future, I'll be able to have Brad Pitt, you know, in my movie, right? Or, you know, Angelina Jolie in the year 2050, starring my movie, right? Like that's happening, like right now today. It's amazing. I still can't wait till they can make more cheers episodes so they can just do it. I'm sorry, man. They'll have all the modern news. They'll be like, the space shuttle landed on Mars today. Let's see, comes over. I don't think human should be on Mars. It'll just write it. It'll do the voices. It might even do the video graphics or something as you're saying. It's an amazing future. I'm excited about AI. We haven't gotten to the terminator stage yet. So we'll see how it goes. Let's move on to the next issue. Issue five, EU Parliament passes Bill requiring smart contracts to include kill switch. And it says the bill alters the fundamental nature of an automated computer program. Adam Meister, what do you think about the idea of a kill switch? Is this the end of Ethereum, the end of smart contracts? Or is it the end of these idiots at the EU who think they can regulate software? Well, Sally, not the end of the idiots at the EU. They have no expertise in this matter. But of course, it never stopped them before. And they'll have a kill switch in AI also, which will only lead to people dying because they won't be sure in cancer as fast. But that's a little preview of the future there. But if you're in the EU, I guess in your Ethereum developer, in this past is, I guess they can send you to a cage. So if you want to be in the technology and changing the world, don't live in the EU, I mean, it hurts them in terms of progress. And just an in newness over there. They want to live in the dark ages, let them live in the dark. It's their choice. People will move where they can practice their arc without being arrested because people, I mean, once you set up one of these smart contracts, it doesn't have the kills, which no one can stop it. So if it's truly decentralized or whatever, and no backdoors, which is a kill switch on its own, so I mean, let them make their laws and let them see what the consequences are. I mean, what are they going to think when Dubai is richer than all of Europe? That's really weird. In Dubai, they have some rules when it comes to cryptocurrency, but they've made them very clear and it doesn't seem like they're going to change it on a whim, of course, that their king could die, maybe. But you get the point. This is backward and people will react with their feet and do what they can. This isn't a bad thing. This is experimentation. You're not protecting anyone. You're just inhibiting creation and the natural evolution of technology. So whatever, they've got a lot of time on the hands of power hungry leaders, I wish they were just, let them worry about the environment or something or class rob. I don't know. Seriously, seriously. Let's remember for a second, the one piece of EU legislation that we all bump into every fricking day. When you visit a website and that accept cookies, stupid ass fucking thing pops up and you have to click that accept cookies browser. That is fucking thanks to the EU, every website on earth. Now I got to click two buttons when I am enter a stupid ass website. That is just a great tweet on that. The guy said he was telling his 15 year old son from out of the country, he was like, did you know in other countries, you don't have to click OK before you go to a website and the kid on earth didn't believe him. So let's thank the EU regulators for that brilliant piece. That's kept us all safe. Thank you. Like that's thank you. I feel so much better now and that's helped me so much in my hours. I mean, let's just think for one second as far as waste goes, which I'm a waste anti-waste guy, for the billions of people that now have to click that button every day, the amount of waste. It's sinful and that the EU would institute that gives me zero hope that they'll institute anything towards smart contracts in any sort of efficient way. And I recommend completely ignoring it and tell them to go take a hike. It's also so bad the way it's designed. It's like yes to accept cookies, no to learn about cookies. Yeah, oh, no, yeah, I get to go to another page and select my stuff. So I can't have like just a blanket statement like I'm aware of cookies like let's go. Like can I just click it once and be done with it for the rest of my life instead? No, even for six months or even for a year or something, some kind of thing. But as a myster was saying, the non technologists who thought of this thing at the EU said, a government only killed switch that we could use to shut down negative smart contracts, probably thinking about child porn or protecting children or whatever it is, right? Every other person who I know is a technologist, maybe a little bit of a hacker said a kill switch, anybody could use that anybody could shut down their competitors. Anybody could be a kid just grief in some people, wrecking markets, wrecking contracts, having them not run the programmers themselves could screw up. It could access the kill switch. It's a disastrous idea all over and like Adam is saying, clearly a brainjure. Brain on the EU people are going to move out programmers not going to sick around. They have the money. They have the laptop. They can go somewhere else, maybe even Vitala himself would leave the EU. So it's a disastrous idea. But one worth mentioning because this is how they try to deal with Bitcoin and crypto and other things is they look in the toolbox and like, what do we have that we did last time? Well, kill switch. Well, let's attach that on there. See if that fixes it and they have no idea what they're doing. But all they have is what's in the toolbox. That's all there is. It's one to the next issue. I think it's issue five. Bitwise is hopeful for a spot Bitcoin ETF but sees no path forward at the SEC now. The SEC has just rejected the Van Eyck Bitcoin ETF again saying that they believe the underlying asset could quote unquote be manipulated just like goals and ends and everything else who also has an ETF. Remember everyone we've talked about ETFs for it seems like a decade now is really simple idea instead of buying Bitcoin directly you could buy a stock like Bitcoin slash ETF the stock they would hold the Bitcoin for you. You would get the gains. This allows people who have money in their 401k retirement accounts where you can donate before taxes and get more money and invest to invest in Bitcoin directly for a long time. People said the gray scale thing was good enough but now we see they're in crisis. They might not even have the Bitcoin they have company problems and other things. It's a simple idea Bitcoin ETF you put the Bitcoin in the vault gold ETF you put the gold in the vault you let the people buy the gold with their retirement funds. I'm frankly sick of this. I don't think they're ever going to give it to us. I think it's become discriminatory and ridiculous. Adam McBride what do you think about the continued rejection of the Bitcoin ETF? At first it was like minor players asking for the ETF now it's huge players and even the huge players are being reject. I'm with you a million percent and literally this is the in crew in crew saying no to the out crew. This is like old finance saying no to new finance and that's it. It's that simple. They're not going to let it in and we all recognize that now and you just move forward you have to buy Bitcoin as Bitcoin. It takes away all the 401ks and all that sort of stuff and you move forward you recognize the reality for what it is which is old money is not going to give up that control without a big big fight. The lines are being drawn in the sand man and choose your side. People had their chance if they were going to buy Bitcoin with their retirement they would have bought it by now they would have figured it out. Adam Maister what do you think about the Bitcoin spot ETF? Two things all the younger people out there don't get into the mindset where you think you need a third party to own something for you that you need something an official title like an ETF to make it a kosher for you own the underlying asset. When anyone asks you to invest in their Bitcoin business I just tell them I want to own the underlying asset I only buy Bitcoin. I'm not going to buy your Bitcoin in Africa company. It's the same thing with the ETF. The funny thing about the ETF and Thomas stole my thunder a little bit on this. You know you know you're a freaking OG when you can remember back in the 2016 when it was like next year they're going to approve this ETF thing. We can admit we were men we can admit we were wrong. We've learned our lesson because every year you think it's covered next year it's not. This is the keeps going on and on but the Bitcoin price back when we started talking about Bitcoin was like $600 and we thought the ETF is going to be the key to making this thing to the moon. It will help because these old normies who are dying off just can't grasp underlot you know only the underlying asset they have to do it through their 401k which could be by the way the government could say hey you know instead of bailing out banks we're going to use we're going to take haircuts from 401k and then you'll be real happy you wait for the ETF then won't you that you now the government's a haircut for 401k's but this is the lesson. Just get used to it. If you're new to this space get used to like next year they're going to approve the ETF and it's not going to happen. Thomas and I have heard this story of eight years in a row so it is very time. I very much agree with myster we wanted that retirement money so bad we talked about how all these funds were going to flow in and all these people who are not you know Bitcoin investors would get their chance to take a play at it but it's not happening now there's not going to be an ETF and if you go back far enough if you're really old school you have like stock certificates and you don't even have to hold those in the bank and you can have Microsoft and Apple and all your other stocks and have the physical certificate yourself but then you can't day trade you can't get in and out all the time. So normally in the exit question we'd ask is there going to be a Bitcoin ETF spot Bitcoin ETF but no there's not going to be one I don't care anymore I'm done with your retirement money if you were trying to invest in Bitcoin you would have figured it out by now coin base other things are really easy to use you have lots of options it's not that bad so let's move on to issue six four things every artist needs to know to understand Bitcoin networks update for native NFTs yes ordinals just made it into rolling stone magazine how about that rolling stone warns that the ordinals are a bitcoins not really designed for ordinals it could challenge the small blockers it obliterates bitcoins original intent of just being a monetary system could cause price cost to rise which some have said could even solve no fees for mining thing and a 20 130 problem and then others say it opens the door to spam bloatware militia data and of course socially under redeeming artifacts a beautiful way to disguise I don't know pornogue for violence whatever else you wouldn't want on your network let's first go to Adam McBride what do you think about Bitcoin ordinals we talked about them going up going down kind of stagnating there's a lot of discussion on this what do you think about ordinals I think maybe ordinals fixed Bitcoin man I think in a lot of ways we've been talking about ordinals I had Casey on my show last September so we've we've known about what he's been building on ordinals for or on Bitcoin for a long time and I think in a lot of ways it's it's a shot across the bow for old school Bitcoin culture and it's I think some Bitcoins kind of going through some growing pains right now which is you have the OGs who've been around a while and Bitcoin's money and that's it and you have other people mainly NFT guys who are coming in and saying well it can be something else too along with being money and so there's going to be some challenges here no doubt but I think certainly the people who want to stop it I believe that ship has already sailed and so ordinals you know whether it's just silly JPEGs and pictures three or four years from now or it's moved into something else it's a very possible so but I think the idea of ordinals ordinals protocol in the way it's working I think that's pretty sound and I think that's already that's already happened and there's no taking it back now and so you know how Bitcoin as a culture moves forward with it knowing that it is part of the reality now it's going to be interesting and there's a lot of back and forth I mean it's a great chat rooms with with different you know Bitcoiners and hearing different you know sides of the story and the way they feel about it but I can tell you one thing there's been more building on Bitcoin in the last and this is from OGs even telling me this there's been more building on Bitcoin in the last two months than there was in the previous five years on Bitcoin the amount of innovation that's coming to Bitcoin right now just as far as simple things like wallets that sort of stuff is happening because ordinals and the money that's come in looking for to find and fund new projects so I think even for traditional Bitcoin Maxi that has to be like oh okay this is actually helpful for onboarding those next billion people that we're talking about well fortunately we get to play a ask a traditional Bitcoin Maxi out of myster what do you think of ordinals compete don't complain baby and pound that like funny I love it doesn't hurt anybody I got three things to say about the the situation baby and one yeah it does partially solve some fun that people like to say how will the miners bit money in 2018 20 there you go okay there's some fees right there uh number two I I did a show on uh mentioning that the mainstream media hadn't covered ordinals yet at all and now Rolling Stone has now they're not as main you know they're as big as they used to be to say the least but uh I just want everybody to imagine when uh the the the the normies find out about ordinals nobody knows about ordinals yet outside the space nobody knows about it yet um that will help Bitcoin when the normies uh know they can do their NFTs on Bitcoin or so and it's it's more valuable than the theory many of this the and just the the innovation that's already started like we're seeing the beginning of something big this isn't something that's just going to disappear overnight um I I commend KC and third to all the OGs out there they're like offended you know they're part of the Bitcoin uh uh the Bitcoin Inquisition basically that everything must be pure or you will be sent to the Bitcoin Inquisition you know Jimmy Song should make a fork a Bitcoin he should make Jimmy Bitcoin with it that you can't do ordinals you can't do and let's see how it goes and people are saying Jimmy Song such a big name in the space we don't big names in the space never betray Bitcoin oh it was uh 76 years ago today we were so worried about a Bitcoin supposedly Jesus uh making his own making his own Bitcoin which he eventually did called B Cash and look how that turned out so bring on Jimmy Song crypto dividend or whoever wants to fork it off I I think compete don't complain if you hate ordinals or fork it off make your own Bitcoin that has no ordinals and great that's awesome I wish you the best in the world because I practice what I would I preach decentralization I am a confident decentralized so if you don't like it go do your own thing we'll get a free crypto dividend out of it um but I personally think it's I think it's great so uh there you go yep I think it's it's actually great to hear um and and that there there is a large group of not they're not the majority maybe but there are people who are like well this is actually this is a cool use case and uh so I think that's the general vibe and um so it's nice to see uh some OGs getting behind it too and uh and moving the ball forward for Bitcoin because I do feel I always kind of pound this point it's like you know for everybody yes Bitcoin there is Bitcoin awareness in the world but there's not Bitcoin adoption in the world and to get to Bitcoin adoption we need to bring the access the ability to get to Bitcoin it needs to be way way easier than it currently is and that's just for my normally friends you know if my mom my mom to hold Bitcoin it's got to be dumb stupid easy right and so we need to get there and that's going to take a lot of work and it's you know to get back to those silver plates the plates again pounding and they seed phrasing the plates like we got to get better than that and I think ordinals help move that ball forward. Obviously I'm a big supporter of the idea of getting new people into Bitcoin through art I helped launch the Kerio cards project in 2017 which pretty much had that idea we were shouted down by many other people including the Rare Pepe's project who said there should be nothing else except for Rare Pepe's. Look at the NFT market today they were clearly proven wrong there are lots of other NFTs that are not Kerio cards and not Rare Pepe's so I do kind of worry about this a little bit I'm not sure if it really works and I'll give Adam a broad a chance to respond to this I've heard things how you attach your note to the Satoshi and then that's all good right you own the note you know the Satoshi but if you then wanted to sell it I'm not quite sure that you transfer that Satoshi so I'm not sure about the chain of passing it on there and just in a general way there's this there's this idea in programming I'm not an expert program or anything but there's an idea where you're overloading operators and you're using something that's designed for something else and you're using it for your own plan and a lot of that I see this here where he's come along to Bitcoin Segwitz there these new features are there and he kind of overloads them and you saw Luke Dash Jr. Luke to share he was very upset about this he's like you can't do it and then the person in the comments like but it follows the rules he's like you're watching the rules it's bending the rules and for now that seems fine the program seems to work in and it bitcoins very hard to edit it's a complex problem not like other programs if this was Microsoft whatever they just turn you off there still might be a way I don't know the technical way but the programmers could put some little line in somewhere in the next update that ruins all your ordinal so you just got to be very careful when you do this kind of overloading operators pushing the aspects of code that you don't know but Adam what what have you heard about this Satoshi thing does it actually send it around well let me hit the first point which was your your last point which was hey could they stop this and the reality is yes they could if enough people if there was consensus around it they could basically prune the nodes right and so basically people wouldn't be able to make new ordinals that that I heard is a possibility but for people who already own ordinals guess what they say they say awesome do that can we do that today because that makes my first ordinals like extremely valuable from a collectibility standpoint so there's that just to let you know that there's that going on as far as what it is technically the way I've described it is basically first of all he made up something and you could make up a new ordinals protocol it's mad bitcoins ordinal protocol and rather than first in first in first out it's last in last out or last in first out or whatever I mean it's basically an agreed upon reality this isn't something and it's different than bitcoin itself in that this is an agreed upon reality that doesn't have its route necessarily in bitcoin meaning without the protocol you can't really figure out who owns which right but we've all I'm not we've already had the moment like everybody agrees on this and so we're all agreeing on basically yeah that this one sat out of this block of 10,000 is the is attached to this inscription right and now the wallets can all track this one sat right and so literally back to the birth of bitcoin they've now mapped every sat in existence and so yeah the the ordinal isn't scribed connected to that one Satoshi and you can track these things now all over the bitcoin network and people are actually going back into you know swapping out bitcoin I know a guy who's swapping out to bitcoin at a time with exchanges to search through those those brand new fresh bitcoin that he gets looking for old sats sats from 2009 right because he knows he can take those sats and sell them to artists or founders of new projects who want to mint their new ordinals on those old sats it's crazy and we haven't we've only just begun we're six weeks into it but that's kind of where the market is right now yeah see I heard that guy on your show or something and I thought that was pretty absurd I thought that was pretty awful it's absurd but but look this is the create isn't it interesting if you had Satoshi's from they were transferred from Satoshi Nakamoto to Hal Finney there's a block of ten bitcoin that was transferred isn't it interesting if you had some of those and you wanted to create an ordinal's project and it was all minted on those Satoshi's that's just a new interesting way for artists and founders to play around and and that's kind of what's happening in the ordinal space right now it reminds me of something else about the NFT space where kind of just every side project every half done not finished project anyone did in the past is now like a huge deal an Adam and his crew brought their find it the way we discovered a broken project that never launched and then they get all excited about it's like I have lots of broken projects that never launched I just want a blockchain or whatever so it is funny to see that and to see that kind of it's not even the past it's like five years ago it's not that long of what they call him historical and they they act like we can't even talk to the original people they're like what strange things did the ancients put these things on the blockchain we don't know but well I'm certainly not calling ordinals historical but we do get this vibe that it's Bitcoin and everybody you know loves Bitcoin everybody in the space loves Bitcoin right it's it's the king chain right and so this new thing on Bitcoin that's why it's exciting it's having be able to make my little inscription on Bitcoin is it's a big deal and I think when artists got the idea of like hey I can have something tied to a blockchain that I feel is going to live beyond me and now that you can do that on Bitcoin easily people get really excited for that this idea of being able to write my name in concrete and the hardest concrete in the world is the Bitcoin network and I can make my little mark there don't underestimate how powerful that is for people I do wonder if they went a little too far though maybe putting the ordinal on there the inscription on the Satoshi that's all good but then putting the image into the archive nodes or whatever it seems like if you just put it on IPFS or any kind of the standard systems you don't have to bother with using all the space of love on chain man on chain just digs to the core of us NFT guys man love that well as as myster was saying if every sat is unique now I'm surprised that Jimmy Song is against this because as I recall he was one of the first components of colored coins which was that first idea of being able to mark these sat but Adam I think you have more you have a question go ahead myster yeah for the group because there are a lot of people like all they they snuck this in I wouldn't approve the last bit had I known this it could be positive in terms of the ossification of the bit process people are not going to trust bips anymore so none might be approved and Bitcoin just might stay the way it is forever now out of paranoia from apparently people like a loose looped ass junior if you saw what he was wearing at the Bitcoin conference in Miami come to the Bitcoin conference in Miami this year who knows what he'll be wearing my word uh how can anyone believe that dude afterward they saw where the point the point is this we uh what do you guys think about a possible uh speeding up of ossification because of this uh McBride go ahead first I'll go after you honestly I have no idea and I have no idea you Bitcoin guys argue about Bitcoin and I'll I'll be making JPEGs and uh enjoy in the ride I have no idea whether or not this gonna happen or ossify Bitcoin or not um I just I just love the the creators making new stuff I think that you know studying the blockchain and history of NFTs and stuff over the last you know decade has shown me that people trying new stuff is the thing that gets us to really good things and um so whether or not we all care about ordinals in in a year or two years um it doesn't really matter to because it's people trying new things using public blockchains and that's exciting I do think we're kind of hearing the last laugh of the anti-seguid the big blockers or whoever they were uh they're like don't change it don't change Bitcoin don't move the witness even a bit man with a asick boost program they had a reason to not change Bitcoin to keep the witness in there but as you see moving the witness out leads to the situation where the guy can come in and kind of take advantage of the situation and to put his uh his ordinals into the witness uh so on and so forth I agree with Meister I think it's gonna slow uh Bitcoin development as far as new features people are gonna really take a look at these and try to think hopefully outside the box about what else could happen what else could be done with this that we're not seeing yet uh Meister what do you think your agree is it gonna uh shorten Bitcoin control? I think uh we will my opinion if uh yeah I I hope it does I don't want I want the big process to be slowed down I I you know you don't need I don't like changing any little teeny aspect of it because something really could sneak in when you have developers like Luke Dastry and you're her insane uh we're working on it and stuff I'm sorry I mean that that's the once I saw him wearing that gas mask I realized this is the biggest attack point on Bitcoin these uh these developers this is Bitcoin's weakest spot um these someone could go crazy like this man it's clearly went crazy and uh who you know he someone I take advantage of it and make sure so if there are no more changes then we don't have to worry about crazy developers adding in secret things now I don't think this was this wasn't snuck in there case he just figured it out that's all he did he in I love the innovation too I love let's innovate with what we got I love that but I do I do worry about uh programmers uh sneak it stop in there not the business snuck in there so let let this uh create a little bit of paramilia and possible ossification I think uh that that's something positive that come in my opinion something positive they could come out of this uh maybe they'll have more bips and more action on Jimmy coin maybe people will be happier over there all right I think we're running out of time we're gonna head towards prediction or a story of the week Adam McBride do you have a prediction or a story of the week go ahead um story of the week I'd say uh from the ordinal side would be the Yuga drop um so the Yuga drop 12 fold sold out to to Bitcoin was like the minimum bid on that they sold 288 pieces 16 million dollars um the first uh secondary sales just took place in the last 24 hours there's been about four I think four secondary sales all on a theorem uh using emulenvol for generally about 15 eth less than the people paid one guy took a one bitcoin bath on his on his ordinal so um we're starting to see people flip out they've all been less than mint or less than inscription price um so that's kind of the story the week in the NFT space uh making new NFTs does sound like such a good idea I remember when kirao cards were discovered and the first thing they said is we're never making anymore NFTs I said my god why did I make an NFT company what were we thinking like third we were gonna make 30 and quit forever that's just what we wrote in our proposals so our 31 even uh Adam myster do you have a prediction or a story the week go ahead yeah I got three real quick points I don't make sure term predictions but a long term prediction is bitcoin always returns to its all time high it will be there eventually uh probably 2025 uh so you just gotta be uh gotta be a long term I think we're there uh number number two uh the these shirts uh you know I love shirts phomo 21 baby you got sent me up with this one kneel at phomo 21 look it up it's uh twitter on all that stuff uh and number three story the week is uh it goes but I mentioned this alluded to this beforehand it was on st. Patrick's day in 2017 um I was I had it this week in bitcoin show going on very late at night uh and uh bcc batty was on and so uh vortex and ancillidner were on and uh we got the news that uh viny linham will suddenly come on the show after an hour we were done but vinyy starts staring everybody about the possible uh you know fourth that could happen you know roger ver jihon woo he's mentioning these names uh roger ver owns big coin.com it's a big thing then we got tone to come on and um Blake Anderson to come on and it was the only I mean is the best show in history of all my shows it's it's again look it up for yourself 2017 st. Patrick's day this very day um and people were legitimately worried about because roger was so big that he could do something really bad to bitcoin and that was the last time anybody had that worry I mean I was I was on the phone with people until three in the morning that night I was I was I was I was like what is going on viny linhams scaring people um vanshin migtow who has since passed away sold half his bitcoin as he watched the show um he probably lost over a million dollars in long term because of that mistake uh but but the lesson learned is that no one person controls it at the same time another lesson is that was scary for a stench shows what small scale we were we were worried about some guy named roger ver that's what he's become some guy named roger ver no one even knows who Blake Anderson is even more and he's a great man um but now we have like Elizabeth Warren who could become president of the united states with her main thick her main she could uh her main fixation is cryptocurrency but she wants to be the most powerful person in the world in terms of politics and her main worry you know she's the her main thing that she's against is basically bitcoin and it just shows how small potatoes things were really then and uh just when someone did well if you look back you were funn it out back then what strong hand really means nice see what it's and it's only going to get worse people they're going to be bigger people they're going to be bigger threats in Elizabeth Warren um and you're going to feel more isolated as it gets bigger sometimes but uh you know it all works out in the end we left at uh at the uncertainty that we had back then uh and uh you'll laugh at Elizabeth Warren one day too but if you if you hold your bitcoin you'll be laughing all the way to the bank in your Lamborghini just to like uh wave at the bank bye bye it is funny i recall one of the things that we worried about then uh was the other side b-cash actually taking control of the bitcoin name so roger owned the bitcoin.com exchange and clearly he could just change it there and i think he did and we could go even go to coin base and at a time we were worried that they might change bitcoin to b-cash which is from a user perspective a complete disaster you go there you buy bitcoin you think it's bitcoin you send it to your bitcoin wallet it errors out because it's b-cash which use the same address uh table as bitcoin so it would be a successful send but then it would be the wrong stuff so that was scary it was scary that they could take the brand name because as we all know bitcoin doesn't really have a copyright over the name or the graphics the toshi disappeared there's no company there uh so they had a very serious attack they had a very good chance of taking over bitcoin and reshaping it into what they wanted uh but like Adam said they lost they're gone and now there's much bigger fish to fry consensus matters it's a good point to end the show on so thanks to everybody for joining us giving us a thumbs up uh give us a comment down below push subscribe and until next time bye bye