The Bitcoin Group, the American original. For over the last 10 seconds, the sharpest Satoshi's, the best Bitcoin's, the hardest cryptocurrency talk. We'd like to welcome our panelists, Dan Eve, the crypto raptor. Hello, amigos. Rijal from Swan Bitcoin. Martine Wishmeyer from General Bites. How do you hope? Want to try Rijal again, unmute this time? How's it going? Excellent. I'm Thomas Hunt from the World Crypto Network. Moving on to issue one, issue one, Bitcoin prices back above $30,000. But why? The media can't figure it out. But the price of Bitcoin just keeps rising. Could it be because of the Ethereum upgrade? Could it be because of the good news in the stock market? Or could it be something else? Dan Eve, why is the price of Bitcoin going up? Because Bitcoin is ninja. Like it's very difficult isn't it? Oh, sorry, unmute. Is that better? Still me in. You can hear. OK. Sorry. Yeah, look, the fact is that there's still so much instability with banks and uncertainty. And Bitcoin is, as the time goes on, Bitcoin becomes more of a certainty, especially is every time there's trouble with the bank, the people find out about Bitcoin. They hear about why Bitcoin is here. And about how it's trying to cut loose or is kind of the helping people cut loose of the control of central banks. And so Bitcoin just does it thing. It does it thing. Obviously, we're just, you know, got the harvining coming up as well. So that's kind of we reached a huge low point in December, November of 15, 16K. So it seems like it's pretty much kind of, we don't, it doesn't look like we're going to be going back there. So we can retrospectively say it could be this and that. I think the hype is starting, the hype cycle is coming. There's even like, you know, random news articles coming up from sources you wouldn't expect it, saying explaining about the harvining. And there this time, they're not mocking it as much. It's more of a, they're taking some of these articles and more, taking more of an interesting talking point about why it's harving and about going into the detail about, you know, the fact that there's scarcity in Bitcoin, which we don't have with central banks that can just print money off the cuff. Obviously, we've also got inflation as well, which is still pretty high in a lot of places. So that that's another reason why Bitcoin is, is better to have than, than fear money because your fear money is just devalue all time. So yeah, there's, there's a whole plethora of issues. And it seems like it's resilient to all these crazy articles that are saying that Bitcoin, you know, boils the oceans and, and yad yad yad. So that's the, the main thing is that the, the kind of, the positive information and not just like skewed positive information, but actual information about the, the, the, the good reasons why Bitcoin is around. That's making more of a, a mark on people rather than just all the negative kind of, you know, earth boiling kind of stories. I love the media's attitude towards Bitcoin. It's always like a Scooby-Doo villain. They're always like, we almost got rid of that Bitcoin. If it wasn't for you kids, you just kept talking about it. Otherwise, it would have been gone by now. A ridge, oh, why can't the media understand Bitcoin? Why do they keep thinking that it's just going to go away and act so surprised when it keeps coming back? I think it's like many things for the media is, and it's actually intended to understand it. They're probably good or gonna understand a bit of it. But they're not, they're just literally simply interested in creating headlines and drama and stories and things like that. I mean, I think that's kind of the best explanation is, you know, they, they're just trying to keep confused people selling at the, sorry, buying at the top and selling at the bottom, you know, so, so, yeah, I mean, I think it's just, this is the way that Bitcoin goes and, and as far as like the price being where it is, you know, I mean, I think the only real kind of explanation I can think of is now, Plan B has been made to look like a, a complete and utter idiot. But we want it to like pump a little so we can like, you know, post some more of these like memes, you know, with a wave coming like, so it can go down again and he can look like an idiot again, you know, so it's a, you can't just like let him fall or you got like him a chance to like, through these right and then fall over again and again. So I'm very happy about this. I'm looking forward to a little bit of a pullback so he can look like an idiot. This to continue over and over again. And, but of course, people want to know the lesson. He'll still have whatever million followers he's got. So yeah. I'm reminded very much of that Bitcoin comic strip where the price is like 65K. And there's a huge line at the guy's booth and the price is 20K. And there's no one there at all. The media is always writing these articles. So they were like, if you would invested in Bitcoin six months ago, this is what you'd have now. And whenever it's low, they're always like Bitcoin looks like it's almost dead. And sadly, as hard as it is, that's the time where you should be investing. And it's almost impossible to do this. That's why we always say dollar cost averaging by like $100 a week. Something like that. Don't look at it. You know, maybe do $10 a week if 100 is too much. Just don't look at it. Because otherwise you'll make high buys and low buys and you'll mess it all up. Martian wish mayor. What do you think about the price and the media continually wishing that Bitcoin just go away? Yeah. Yeah. I can keep wishing that we'll go away. But the price will go up. It's just something that is short to happen. There's only 21 million. There'll be no more than 21 million ever created. Right now we're seeing a lot of problems in the Fiat sector. Basically, they've been printing money and now they banks are, you know, some of them are really not that healthy. So if people are worried, that's best for Bitcoin. But I like the Bitcoin price to go up. But I'd rather see the Bitcoin price to go up because Bitcoin is so good. It's a superior form of money. Unfortunately, what we're seeing now is that Bitcoin is going up because the whole Fiat world is turning into a bit of mess. And I don't think that's necessarily good because it will create a lot of haters and a lot of negativity around Bitcoin. And it might even get people to blame Bitcoin, even though Bitcoin is not the problem. It's the solution here. And yeah, so I'd rather see Bitcoin to go up a little bit slower over time and without all the media hype, then what's happening now with a little lice, a little bump stuff. But yeah, price will continue to go up. That's just we all know that. So yeah, like you said, keep DTAing your fortunes and just buy some Bitcoin, price high, price low, just keep buying Bitcoin. I, for example, I do everything I purchase. There's like 3% in cash back. And I immediately turn that into Bitcoin, not in the shit coin where I get the Bitcoin, where I get the cash back in, but I turn it into Bitcoin. And then I store it safely and I just keep doing that. And it really adds up, you know, you do to forget your even saving Bitcoin, but 3% of all your expenses, that adds up. Yeah. I agree, Martin, we've also seen gold silver, other precious metals having their price rise. And although it's fun for the Bitcoiners to be right and for there to be inflation and all these things, if you can't buy anything, it doesn't matter if your Bitcoin is worth a million dollars of coin. If you're buying toilet paper at 100k and mini whiskey at $10,000 of bottle, like it's not very fun. Like you didn't really win anything. The whole thing collapsed. So it would be better if we had a more reasonable transition. Moving on to the exit question predicting against the Bitcoin predictor ball, the greatest source of all Bitcoin prediction power in all of Bitcoin history, the baldest source of truth. Dan Eve will the price of Bitcoin be higher or lower this time next week? I'm on the optimistic train. So I'm going to go higher. Higher, Rachel, will you continue the optimism? I'm going to say lower. I think like naturally, it's going to do the stuff like pulls back a little right. You know, I don't think it's going to go down anywhere near 20k, but I would think like 27 or 26 minutes and not bad. A little bit of play with people and then probably go up would be my pick. But you know, Martin, with the with the tiebreaker, one. No, I'm on the I'm with Rachel on this one. We'll see a bit of a pull back and then it will go up again. But you know, the weekends have to be shaken out first. And now the Bitcoin predictor ball with the price of Bitcoin be higher this time next week. You may rely on it. You may rely on it. The ball is optimistic. Moving on to issue two issue two Bitcoin is one year away from a major technical event. History suggests the start of another bull run. Yes, the mainstream media, including CNBC have discovered the havining. Remember that the price that the amount of Bitcoin being produced will be having, right? The amount of Bitcoin produce will be going down by 50% on schedule at a according to the block time. That event is called the havining. It's when the having happens. Anyway, you're more interested in the price of Bitcoin, which usually goes up slightly after the havining. And this time might go up before it because of all the media attention. You don't want a FOMO. You don't want to be too late to the Bitcoin having when the block reward will go down to from 6.125 to 3. Something, something. Rachel, what do you think about the Bitcoin having? It's effect on price and now the effect of the media on the price on the havining. Well, I think it's a pretty obvious thing. You cut the supply in half and show this trading going on. Some of the demand is speculative, but this is consistent and you would probably think growing desire for Bitcoin. There's probably a growing amount of people who are accumulating a small amount of the portfolio at the least to hold a savings. So you would think simple terms, less Bitcoin equals price going up. But where I'm skeptical about this and I think there was a good tweet that John Cavallo posted today, which I very much agree with the sentiment is like, there is not only 21 million Bitcoins because as long as you accept custodial services, trading, etc. The obviously the amount of people Bitcoin out there liabilities for Bitcoin is far and excess of 21 million, I would be certain by now. So, you know, although the harving does the thick things, you know, I think it's, I think it's a simple thinking right to believe that simply the price, the supply gets cut in half and the price goes up double. It's the simplest argument right or something like that. I don't think it really works out that way. I think in the very long term, it will, but much longer than a cycle of the harving is all the fuckery that happens with paper Bitcoin because most people are here to speculate and they're not interested in holding a sovereign asset in the moment that you give it to like we saw very clearly with FTX is balance sheet at the end of it. And if you saw how big that the holdings and the liabilities were, I mean, this is happening no doubt on many, many other exchanges right now. And so, you know, it can be less Bitcoin, but you know, what's actually traded where the price is derived from, which is these exchanges. It's not based on on actual Bitcoin holdings is based on paper Bitcoin. So, so I'm somewhat skeptical, you know, I mean, I think it's a good narrative in it. As I said over time, you think that the attention will reach up, reach out up such where those things below up or, you know, others things mean the price this go up. But I mean, I think as far as I can be just saying, looking at very simple economic terms, I don't believe that's true. That's an over simplification. At the very least for the Bitcoin miners, the ones who rely on, you know, monthly payments to stay in business, the price would have to double. So we'll see how that sorts out some miners do have longer term plans, better financing. They can survive something like that. But at the very least, that is one note to track. Martín Wishmare, what do you think is a paper Bitcoin going to affect the happening? May it might not happen this time? Will there be no. Absolutely, absolutely. You know, we keep repeating on this show that people have to get their Bitcoin off exchanges, put it in their wallet. And only then it's your Bitcoin. Otherwise, it's not your Bitcoin. It's just some number on a balance sheet. And you don't even know whether it exists or not. And we've seen enough. Shitcoin casino's double in Bitcoin and like, you know, like Rachel said with the FDX story on there's many more like it. Just don't trust. Get your Bitcoin off exchanges once you bought some make sure you actually own the Bitcoin. And yeah, I think it's really important. It's we can't keep we it's almost to point that it's become boring to repeat, but we have to repeat to viewers out there because every new every new cycle, we see new Bitcoiners coming in and it always make the same mistake. So go to repute reputable exchange and get your Bitcoin there and then get it off there and get it into a hardware wallet, you know, I'm not going to recommend, but we we've recommended them in the past. So, yeah, price will be affected and there will be lots of tears once the whole thing comes tumbling down again. So, yeah, get your Bitcoin in time and get it off the exchange. Sounds good. Not your keys, not your coin. 10 Eve. Is there any way that the having could be canceled or maybe we could delay it till later? Maybe it's not the right time to have a happening. Oh, indeed, indeed. If only we could just put it off and maybe even just make the supply 100 100 billion so that everyone on earth can get like 510 10 Bitcoin each. But if only was that simple, but I do think that was the harvining that I think a lot of the effect comes from like the media cycles around the harvining and the hype that that happens, especially the more we go on because the my back of the fact packet calculations, like, you know, during the first supply cycle before the first harvining when it's 50 Bitcoin of block, there was like nearly 50% of the supply given out and then it goes down the next cycle is 25% then the next cycle is 12.5% so as this this harvining's go on, there's more circulating supply and the impact of even though it's harvining the impact of that harvining is kind of lessening because it's percentage of a bit. So the overall supply so and you look at the trading volumes of Bitcoin a day so that I think the impact is, you know, compared to what what the actual harvining will do to this the supply reach in the market every day. And so the lessons as we go on but what actually does it increase is the amount of people using Bitcoin and the importance of it and it goes back to the like the you know met class law right the the i've not had any I can't even remember exactly what is the inverse use of network is squarely proportionable to the size of a triangle or something like that. So ultimately the more value and it we pull people using a network that the more value it has and so there's other things that kind of take over from from just the supply harvining I think that that make the show give Bitcoin even more value and ultimately the more people that using it the more people that the more demand there is for the Bitcoin so yeah I don't know it's all a bit crazy but one thing on the previous kind of article that wasn't actually picked up on in any of the ones I read about the so many times I think it's not going to be a bit more difficult to do that. And so I read about the sort of the price going up and what could this possibly be mystical ball right one thing that wasn't discussed in any of these articles was the fact that this going back to the old argument of hash rate of price following hash rate. And so recently like the that we're at an all time high for difficulty of like 48 trillion nearly and hash rate of 343 x a hash is which is within about by 15% or so of the all time high of hash rate so I think that the price it seems has has slowly crept up on this hash rate that's just exploded out of nowhere and and yeah you know it's just showing that again the more network the more secure the network is the more trust there's a lot of money. There is in it the the less chance there is that it's going to be hacked or manipulated and it is the strongest and you know most hardcore network on earth and that's measurability you know there's an actual international standing standard of measurability for the word hardcore and Bitcoin is the most hardcore I hear. Max Kaiser is often said that the price will follow the hash rate moving on to the exit question Thomas hunt aka mad bitcoins has predicted on Twitter that the happening effect the happening bump will happen early this time because of the media do you agree will the happening bump happen early around the time of the happening later or perhaps never right go ahead. Yeah I mean I think that's a non-instanding what I said before about you know the the paper Bitcoin effect I mean it's pretty sort of like you man and I think we we kind of saw that yes and those in times of the last cycle I think now the the narrative is I mean the narrative is always kind of driven price to some degree right that's why Bitcoin is worth anything but but I think like it's starting to come like kind of scaredly mainstream now about some the one that really shocked me in the last like was how many people have maybe read the book we're saying things from the Bitcoin standard that I remember you know 2018 19 you know we're all thinking this is interesting but you know it's not going to catch on but how that really reached even like sports stars and personnel is that sort of level so I think you're I think you're totally right in that like that narrative has been very well still man by like what yeah really by the maximum as community and that has really played out far beyond that small kind of bubble so I wouldn't at all be surprised to see that's true but it kind of feels to me like this is true but I was just thinking this like today of presuming we're in the start of a bull run or a mini one or something just feel like it's speeding up you know these kind of cycles or this now quickly the draw downs get drawn down they come back up feels to me like you know since I've been involved with like 2014 that things are kind of like speeding up a little as far as all these things that play out but I don't know if you guys would agree with that but that's my feeling it reminds me of the movie release window when I was a child movies were always in the theater forever and then someday they'd come out on video now it's like they were in the theater last week they're on video next week you know you can't even tell martin wish mayor what do you think will there be a rise in Bitcoin price will there be extreme FOMO and greed I don't know and honestly I don't care because I'm not selling ever you know in the past I used to sell Bitcoin when I wanted to house or something now I don't I just use a Bitcoin back loan but I keep my Bitcoin and I'm not selling Bitcoin ever I mean this is this is I think everybody go through this whole whole cycle that that one point you'll just you don't even think about selling anymore and the price doesn't yeah of course it will go up but I mean we're not here for the short term profits we're here for the long hole so I think it's a long hole so yeah and all those price movements I'm not even really following them anymore it's just like you know you can wake me up when we're at the new all time high all open a couple of bottles and then get on with life and wait for the next all time high it's it's I think it's it's it's it gives you some peace if you can't sleepy worrying about the price then yes it might go up it will go up and then it might go up it will come down it will go up it will go down again so now I said don't worry about the price just make sure you got your Bitcoin price will go up eventually and you know it might go up a little faster and I totally forgot question Thomas sorry Dan Eve do you think we'll eat those champagne bottles six months early around the happening or maybe later Oh I don't know I'm thinking I know I'm kind of torn right I think the media is is whipping is starting to whip up a frenzy a bit early you know this is where we're a year away and they're starting to write articles about the harvining so and you know these are big kind of these are big big news hours that are kind of covering this so there's definitely a lot more even I'd say like down the down the middle of the road coverage right that's not just criticizing or laughing at Bitcoin right now it's actually covering something that's quite interesting in the cycle and talking about the history of the history of Bitcoin and why there's a harvining event so it's more of an educational thing now rather than just you know mocking Bitcoin when the price dumps so I think you're right that the media is going to play into it a lot more into that general hype cycle but at the same time I kind of think that it does seem like it's after the harvining right that all the previous pumps have been the biggest pumps have been after the harvining so whether it's like a short term after that you know it's a month after the harvining or like six months a year after the harvining then I think it's going to be probably closer to the harvining this time but maybe not not before Now I think there was a lot of media attention on Bitcoin during the last cycle but I don't think they believed us ever since the Y2K bug didn't pay off they've always doubted computer people they've been like oh yeah it'll be like Y2K we'll do all this work we'll get ready get our water bottles and everything and then nothing happens so when the last harvining came off without a stop and when this happening is going to come off without a stop I think the media is paying attention they're pumping it early and it's mainly because it's not going to be a lot more It's only a matter of who you're competing with now you're not competing against you some poor unemployed mad bitcoins who has no bags right you're competing against banks with giant bags of money and they're not going to be the last one to the party and once they start going and they go like dominoes and you see the Bitcoin price rise and rise and rise and you're reading the article and you're like why did this happen with your Scooby do voice on it's going to be the banks who have bought Bitcoin before you so I don't want to hear those stories about oh I was going to buy Bitcoin but it didn't hit 10k or it didn't hit 13.5729 like the chart said so again you have a chance but the thing is you have to accept it that you can't time it right and that you need a dollar cost average and that's you have to accept that or you could keep trying for that magic number moving on check out worldcrypto net dot com world crypto network dot com you can get all the videos for free on youtube and by clicking them through here we've got shows topics on this day and more at worldcrypto network dot com moving on to issue three Bitcoin is rallying but El Salvador's holdings are still down 29% as well as micro strategies Bitcoin bet is profitable again after the Bitcoin price surge I'm just wondering if we're going to do this the whole way up and the whole way down the media is constantly going to be reporting on El Salvador gaining or losing money micro strategy gaining or losing money I wish I had had the ability to buy in a Bitcoin at a company size level or a country sized level but it is interesting that the article writers and the reporters have nothing better to do than write these articles about the percentages and the headlines martin what do you think about the focus of the media on these two major company sized and country sized Bitcoin bets well if it works for Michael sailor it will work for you but yeah i it's nice to throw around large numbers and and be honest like one in what 100 bitcoins now in existence is owned by micro strategy everybody was like you know laughing at at El Salvador at the time but I think their bet is paid off more or less I don't know I don't know exactly but yeah it's it's nice people like to to see numbers like a billion gazillion or whatever you know it's yeah of course you know i'm counting my Satoshi's but i'm still happy i count him every day i just keep waiting for those articles where it's like if you had bought 140 000 bitcoins this time last year like Michael sailor did you'd have this or if you had bought you know whatever El Salvador bought you'd have that like they're just so into the the large numbers Dan Eve what do you think about these large Bitcoin bets yeah and you know El Salvador was kind of seen as the test bet weren't they as you know for the first country they're adopting Bitcoin and so they all lies on Bitcoin and El Salvador with with their adoption and the IMF obviously have been have been itching to kind of to tear them away from Bitcoin also the US as well like the you know relations were a bit strained they were going to default on their bond I'm not sure if I don't think they don't think they did in the end they didn't they go they starting so things are starting to look a lot better now when when when Bitcoin does pump right it's gonna it's gonna look pretty good for El Salvador he's gonna come out like and and i bet Kelly's gonna come out on top on that one in terms of taking a gamble on Bitcoin and IMF is gonna end up with egg on their face big time especially as they try to like break break um you know El Salvador away from an asset that's actually gonna save them ultimately um so i think it's a bet that seems to be paying off but they you know both a micro strategy and El Salvador or just used as like yardsticks right because everyone they're very public with what they're actually buying and what they're holding and what the prices are you know when the price drops it's like all you know is El Salvador gonna gonna default is is um is uh micro strategy gonna get margin cooled and so we're just gonna see this all all the way up until the journalists who wrote all these articles are just gonna sit there huffing because micro strategy are gonna be massively in the green and El Salvador are gonna be like you know to play good gold plate in their volcano uh and all sorts you know so i yeah i think i think a fair fair play to him you know Michael say it took a huge gamble um with uh with his company um and uh obviously he ended up having to step down as CEO you know so there's these are a lot of big things happening um it wasn't just a case of buying some Bitcoin you know and sitting on it from your savings these were very very big bets that uh seem to be paying off right now and there is going to be a drop and these articles uh you know eventually there'll be a bit of a pump maybe a bit more before before it drops but there'll be a point where it drops again and you'll hear that oh you know will it go down to the micro strategy liquidation level will El Salvador have to be bailed out by the IMF with them on their faces but no ultimately the egg is going to be on the faces of the no coiners i do think it's funny we normally think of Bitcoin at a household level where you're like oh it went up a little bit i can buy groceries or maybe i can get a nicer car uh but if for someone like bukelly or micro strategy it goes up a little bit they could build a car factory they could buy everybody breakfast i mean it's guacamole for the whole country you know it's that kind of celebration uh right there's my part everyone exactly they got tons of bottles on reserve uh Roger what do you think about these big Bitcoin bets and why the media and i guess us are so fascinated by them yeah i mean like uh i think these two people are not people i want to be holding a large amount of Bitcoin to be quite honest with you companies or countries you know but i mean this is inevitable right of course you know at some point the penny is going to drop and people with access to large amount of money which you know is just generally not going to be individuals going to be companies countries etc you know i'm gonna i'm gonna buy Bitcoin so you can dislike it as much as you can but this is inevitable you know but i think you know as you guys touched on as well though you know as much as you might not like it or maybe if you look at the the greatest scheme of things it's not the the best dynamic i mean it is exactly as you're saying part of this as much as you might not like it or hate it or whatever part of the way that you know the adoption grows and you know a lot of people got in as they heard about the price right and they heard about you know the read about a news story and things that generate headlines you know even though a lot of us like baby garbage or whatever you know the fact is that it gets people's attention and in the war with them today it is an attention war and these things you know do they well they they create the tension but also they give it a degree of credibility right this isn't just some crazy poker guy you know buying a ton of them well maybe my car my cassette a little bit of that but you know some some crazy individual you know but like this is a company this is a country buying it gives a degree of credibility which makes people set up and say hey you know these guys are doing it there there must be something here i'm missing because i didn't you know i don't know a bit more yet i don't see why i would you know so i mean i think it's uh you know although i i might not like it you know this is important to the to the new side and i get does give a degree of credibility and you know i think there's probably far worse companies than micro strategy in far worse countries than ourselves or that you could think would be doing these things so if you got it want to look at you know the the gas how full thing you know i mean it's it's definitely not a bad thing about regard so um so yeah you know well not not my cupcake and you know i think be better if that Bitcoin is distributed amongst people that you know we do not have access to traditional financial system or things like that but you know it's an important part of the step of getting people's attention and making this mainstream and as I said it's going to happen really you like it or not companies and countries going to buy this stuff eventually and this is just obviously the first step you know it is pretty funny if i'd come along in 2012 or 13 and told you my company was called tiny strategies and we're just going to buy Bitcoin and hold it and you can trust us it's all going to turn out fun uh somebody did do that his name was pirate at 40 and he ran allegedly a Ponzi scheme and he took everybody's money and all he had to do was follow his original plan of just holding the funds they did actually go up it was the simplest like Ponzi scheme you'd have to do he didn't have to do upkeep or have any kind of complex financial dealings you would have just have to hold them but you couldn't do it it was a easier to scam uh let's move on to the next issue issue four Warren Buffett's back again i've seen people do stupid things all my life he says Warren Buffett doubles down on his long held Bitcoin and crypto views he just can't let it go he hates crypto he says uh on the CNBC squawk box he said i didn't like chain letters when i was a kid i thought why in the world should i send along a chain letter i've seen people do stupid things all my life and really i emphasize with that i mean people like to play the lottery people love the idea that they're going to make money tomorrow Warren Buffett on Bitcoin martine what do you think about this constant pessimist uh the old man yelling at the cloud yeah somebody please called Jurassic Park because they must be missing a dinosaur no it's pisses me off every time it just like make me leave it just a picture i just like skip skip if i see a picture or the other one Charlie Charlie Munger Munger or something see a picture in the media i'm like next you know i'm just clicking away it just makes me angry but he does this with the purpose i think you know he just likes to wind people up he's like this be their shift guy which yeah i can't stand either i really it's it drives you crazy every time too because you expect him as a person that went against the market a person who chose his own way you know did these unconventional investments and made all this way you expect him at the very least to say hey i don't know anything about computers maybe i shouldn't say anything like the smartest thing in this step is not to say anything and instead he just keeps opening his mouth and digging it deeper and deeper and it's almost a bit of a vendetta maybe he just doesn't like it because he doesn't understand it Dan Eve what do you think about our good pal Warren Buffett weighing in again on Bitcoin yeah i actually so Peter Schiff i actually kind of like him because he you can almost tell in all of his tweets that he's like he either had loads of Bitcoin but he just has to pretend he doesn't because he's also he's also got loads of gold businesses right so he doesn't want to he doesn't want to duff on gold say Bitcoin's better so he's like it's almost like you can i can imagine him writing his tweets like oh Bitcoin so bad like you know and he's writing it but like thinking oh it is pretty good like do I own a lot of it i don't want to say anything too negative because i don't want to dump the price like whereas Warren Buffett um you know he obviously he obviously has a thing about he said didn't he didn't he didn't like text talks but then he started buying apple and stuff he was originally a tech stock hated because he didn't understand it now the the thing is with someone like like that and i'm sure there's a lot more skill to it than than then then there is you know in terms of investment management and stuff but i think when you get to a certain level when you are rubbing shoulders with all the people that are making decisions it becomes less about skill and about more about who you know who's making a decision and i think that there's around the world there's lots of examples of this of politicians who are on you know a couple of hundred thousand yet worth hundreds of millions of dollars and that was their only job right like they're they're with the people that are making decisions that happen in every government all around the world and if you're at this guy's level and you're rubbing shoulders with giants you know who's going to be making decisions you can make investments investments that um that you know are going to pan out well because of regulation that's going to suddenly go your way like this it's kind of i don't know so i i'm not taking away from the fact he's obviously probably very skillful and you know he's the one known as the best investor ever but i still think that that you know there's probably a bit less to it than a bit less of it than skill there's pit than people actually think it's more about just information and and and yeah finding out about what's what regulation is going to be going what way and also things like you know if you're if you're like chatting to like the owners of a company um you have a better idea of their like of potentially their you know their their how their stock is doing as in selling this to add in their literal you know whatever product it is how how many units they're selling of it than than Joe blog so you can be like well sounds like they're doing pretty good i can actually buy some of this stock before they you know release their year end results or whatever right i don't know maybe it seems like there's there's kind of a lot of that going on and as much as there's regulation to stop inside of trading and whatever that's very clearly a lot of inside of trading happening so yeah fucking he's just a crazy old dude him and turtle face the guy literally just looks like his head Charlie monger now i shouldn't say that because that's it's a bit but he does look like a bit like a turtle right he looks like an old turtle like in a Disney turtle this love if you're hobbling along going oh a bit quiet oh no don't stay away from the bit quiet well you know how the old saying goes if you're looking for computer advice always talk to the oldest man in the room oldest man a ride you know what do you think about Warren Buffett and his unusual views about bitcoin well you know i disagree with what you just said Dan in the terms of like you know seen as the Scradon vest or whatever and like well clearly no i mean like the guy's job is the makeman right it's not to make set you know make the world to be a place this is stuff his job is to make money right that that's what he does is is take some money bet on a thing which is going to make more money and then sell at the time when it's worth more than what it was right and so clearly he's he's wrong there's like there's no there's nothing more to say on the matter right you know he's been talking out bitcoin when it's a far lower price than it is now he's have plenty of opportunities and and you know it's said i wouldn't at all be surprised if he is buying and you know trading in the space but I mean clearly like he's just chittered his job man here's the asset that has gone up more than you know almost anything and he has refused to to buy it out of this you know dogged old man you know grandpa misunderstand the technology and now he is poorer than he could have been for it you know and so I think it's as simple as that i mean do the i mean the guy you know his disguise is export you know you went heavy into airlines in late 2019 start of 2020 you know like this is the game dude you know like maybe that was a you could have said that was based on solid understanding but you made a bet and you fucking lost man and here he is making one again and doubling down over and over and over maybe you should just say something like i don't understand it and clearly you know i don't understand it makes sense to me but it's going up so this is just something i probably shouldn't talk about or you know like if you were asked me about i don't know real estate and that eastern checkless of archaea i don't know something like that like i don't know the market you know i'm just gonna what am i gonna say oh i don't think it's good you know like i don't know you know it would be my answer right i can't talk on that topic to better or something like that's what the guy should say but he's just running his mouth on the stuff that he clearly doesn't understand and so obviously there's an agenda with that is you know like getting headlines or whether you know he is trading against it or secretly trying to you know push it down and you buy more i don't know but but you know somebody who's a smart you know all these smart things just says i don't understand her is not for me run him this like loud opinion on thing where he's clearly wrong repeatedly so it reminds me of a lot of some of my friends where once they're locked into the i don't buy bitcoin i'm not into that narrative even if it goes up for like years and years and years and you could have just put your thousand in and with no effort it would have been twelve hundred sixteen hundred you know back to twelve hundred maybe it goes up again and they just have to sit on it and hold it and you see like this year it goes up i don't eighty three percent in the first three three or four months and and they're like yeah i think i should sell like no no you're not you're not getting what was happened and it's just i think this negative mindset gets locked in and Warren Buffett just doesn't believe in it and he's like that's part of my core and every once in a while i go out and express that and the rest of us just have to deal with it while it keeps going up and like like Rachel is that anyone else would have just surrendered and said okay i'm gonna put a couple of grand into this and put my exploratory money in whatever it is see what happens and if it goes up and you're supposed to make money that's your job like Warren Buffett you should be happy you're making money it's all going fine moving on to issue five the New York Times skewed bitcoin mining expose allegedly reveals blatant bias a new hit piece from the New York Times allegedly has a cloudy sky added in by the paper of record as well as other features that have driven bitcoiners mad with anger as bitcoin is blamed for destroying the environment let's go to rydale first what do you think about the New York Times and coin bases very long and very animated response to it well i mean probably start i should say i didn't read either because you know i think both of these are a waste of time in the sense of i mean here is my argument about this kind of stuff and you know i think there are some who counterpoints to this particular tech that have come out but i haven't even hired arching one which i didn't see a lot of people talking about which is yes this bitcoin is wasteful and that's by design it's wasteful because that's a whole idea behind this stuff like you know the whole idea of proof of work is that no one gets in a furniture right and so the only way that you can do that is by you know burning money or burning resources right as anyway get that like people say oh you know it's a waste of energy will like do you remember do back in the day cure coin you know that thing with their like they put that you know their proof of work is like folding proteins to solve yeah i remember yeah there was another one right another one i can't remember but like the idea was this was like why waste or these you know hashing power we could be putting this energy to something good right you know like making a good use of energy which is really what this article is arguing i said it's a waste of energy right and it's a such a term could exist right totally subjective but i mean i think like that that that example is a relatively good one of how you could like right that's about the best steel man argument it's like you're running computer programming computer cycles for nothing solving minimalist problems but let's devote those to ones that have a thing like folding proteins for cancer right but what do you think happens in that world well the person that owns a protein folding cancer research company has an unfair advantage where they can run mining operation and massive loss and subsidize that loss by you know the benefit of those hashes for their business and so that means that the money suppliers control by cancer research companies and this itself right so you have to have a system where energy is wasted and that you know no one can get a leg up front advantage apart from maybe getting access to cheap electricity and you know i don't really think there's a solution to that problem but you know like that that's that's the whole idea dude is that it is supposed to waste energy because that is how you have an even playing field and if you look at the benefit of Bitcoin without getting tool spacey and stuff about you know what it means for the world i mean i think the amount of energy that it spends for that benefit of like keeping it keeping all the fuckery out of the money and all the flow and effects of that it's it's it's an infetestimally small amount of energy expended for the benefit you know so so i even make the turn down to it is like sure it's wasteful absolutely choice so that's the whole idea dude and if you don't understand that i think you really understand Bitcoin and what the purpose of this technology is i really do think there's a disconnect with the media and proof of work they don't understand that it's part of securing the network they think of it as more of this like the lottery and it's a waste and it's a fire because so many miners do not win but at the same time it's securing the network and that's where there's proof of stake proof of work argument it's going to keep coming back over and over again one of them in the opinion of myself and other people secures the network better than the other and at that argument it's going to keep happening and one of them centralizes the network which is also a big problem that we're going to see and you know they have an interesting solution with the theory i'm getting the money out there spreading it out so that it's not centralized and united but at the end of the day will proof of stake cause that money to reunite into these large accounts that then control the network on martin wish mayor what do you think about the new york times and the argument against proof of work basically well yeah not not specific for the new york times but usually if people can't see the value of bitcoin then they'll call it waste it's just like you know if you don't play your PlayStation or you don't like playing video games then all the energy used by video games is wasteful I think it shows that they really don't see the value of bitcoin more than anything else yeah I think I don't I don't know any other reason or they have a hidden agenda they're sponsored by the bankers that's also another comparison that they don't make we had that study that came out a while ago by one of the bitcoin exchanges that said that shockingly and I know they never talk about this in the new york times but all those buildings all those tellers all those armored cars all the ATM machines that uses a lot of power too and that's never taken into comparison that use about five times the power of bitcoin although I'm sure we'll get there Dan Eve what do you think go ahead also get what not just not just a sponsored attack by from the banks I think you know dare I say it since ethereum went proof of state there's been a lot of well ethereum is it's environmentally friendly you know this bitcoin isn't it just boils the ocean and kills the whales and all this stuff but as predicted on this show as predicted for sure it's just another big green stick to hit bitcoin with but yeah that article is just like you know it's just kind of a bit crazy isn't it like it the way it obviously attacks bitcoin specifically they don't you know they could go into more details so they mentioned about the low balancing incentives of you know overloading the the the text and electric network and and the these companies can go take their miners offline and they get you know get they get money back from the states that the electricity can go elsewhere there must be other examples of other companies that had to take their take their whatever electric trunex offline where's the well not even there wasn't even mentioned so they they use this little stick as you know to beat bitcoin with when bitcoin is not the only company that had to sacrifice its electricity to help you know the rest of the network but that's the whole point of it being on there because it's subsidizing the electricity that's there's not being used and then therefore when the network needs more electricity the miners go down they get compensated for that like that's not literally the whole point of it there's other companies using it that none of that's mentioned there's obviously the adopted images and there was quite a scathing take down of like the photography about how someone called Rory highside on Twitter said about needed like color analysis showing that there's zero color information below 18 that's not just a not just a low amount of color but zero color but so they've literally added an effect to make it look like the bitcoin mines producing all this fog like that is the great smog of Texas you know the clouds are forming and which is just obviously horse crap because bitcoin miners don't produce any form of CO2 you know so you just have to be critical with it's the same principles going we've said this before about you know electric cars well electric cars don't produce emissions but they still use electricity from cars you know place they use places that use that have emissions it's some of them depending if they're not renewable so but no one's attacking these particular things it's just again it's just an attack on bitcoin there's plenty of industries that we would see as as bitcoin is that we would see as wasteful or what's the point in even having it right and so you know but we're not sort of moaning about it right we're not going oh look at the smog that's being created from I don't know PlayStation's being left online or whatever so it's just the same argument so over and over again and and the one of my favorite parts is this article pointed out was that but about their kind of blake they were like blaming bit dear they were making the phrases they were using like blaming bit dear for driving out the aluminium smelter and and and removing all the you know all the jobs going it took our jobs took our do you know that bit there was nothing to do with the with the bitcoin mine it was 10 years ago which was before the bitcoin mine started so again all of it's phrased to as a setup to try to make the bitcoin look bad and you know they obviously did a lot of research but they cherry picked all their data so badly that it just it was just a clear attack on bitcoin and and and the the summary I think it they put the end of the at this the article about you know putting immense pressure on the power grid is another way of saying buying lots of power right that's literally it they literally are buying the power they're not putting pressure on it they're buying the power and using it you know finding and they're finding novel ways to profit is buying it from buying power is another way of saying running a business that uses electricity to operate and that participates in the energy market so I think there's a really well written article that that sort of counters the New York times on but yeah it's just it's just crazy that it can be so biased and so blatantly biased and that's just a thing right journalism just I don't know just see every every source you read now this either it's either one or another it's very rare that you see a nice balanced article with actual logical arguments on on either side you just see attack and it's not just in bitcoin it's everything right you know it's it's just a very sad state of affairs and and you can just be so polarized by sticking to a few sources but as soon as you open your eyes up to different sources you know some some of it's absolute crap some of it's not you know you get a more balanced view and then you can make a better judgment right rather than just reading one article that literally doctors their images to make it look like the great smog of Texas well I wasn't so mad about this article is maybe some of the other bitcoiners and I think that's good I think a lot of the bitcoiners are predisposed to kind of dislike the New York times in the mainstream media so they get really excited when it happens to be them writing about bitcoin but I think the best part about is how strong bitcoins defense mechanism has got I wasn't too cute into it I didn't really care but there are hundreds of other people who cared a whole bunch and they went to all the forums and they told everybody and they got this big article written in coin desk and it's kind of a sprawling article could use some editing itself but they try to take down every point that those nasty New York timers did it and us bitcoins and I think that's great I think there's a great there's such a strong ecosystem that I don't have to be involved and that other people can just handle it and that bitcoins huge now and it's obviously I agree with the panel I was not all surprised by the article I predicted it here we discussed it before it happened and to see it happen afterwards it's like once again it's more of this when bitcoins low they tell you not to buy it and they get all these environmental articles and all this other fun when bitcoins really high they're going to be like wow bitcoins amazing you can do all these things if only you'd bought it when we told you not to but let's keep moving we're running out of time we got one more issue it's one of my favorites called issue six goblin town creator trashes NFT artwork disables trading in royalty stand it was just about a year ago that goblin town started to take over my NFT Twitter everyone was changing their faces to a nice fun green animated goblin picture and they were all in the latest club now goblin town is upset that they're not going to get their royalties when the goblin pieces trade from one account to another the market places have decided to only protect 0.5% of the creators royalty rather than their preferred perhaps five or even 10% whatever they've set before the goblin town creator and company or whatever they are are changing all of the pictures of the garblins to an animated middle finger with other middle fingers growing off of it they're also changing the text of the NFTs martine wish mayor what do you think about this rug pull of rug pulls the anger of goblin town I don't know I'm not really into NFTs but I do have a question are those middle fingers considered art or not well find out on the open market it's certainly terrible they're being genericized if you had a middle finger with a hat on it and I had a middle finger with a cigar maybe we'd have something but they are wiping out all the unique artwork I think it's brilliant it shows that it's just not so permanent and great as they claimed it would be I mean you know I never liked the goblin to begin with so you know the suckers that bought it's good luck for them you know certainly should have bought Bitcoin instead now there are there are other options when you make NFTs on open see you can freeze the metadata in the ethereum blockchain it then can't be changed it will upload your image to ipfs it also can't be changed but that's not true with these goblin town images of course curious cards one of the first NFTs had ipfs way back in 2017 back when it was still the interplanetary file system but Dan if what do you think about goblin town really pulling a rug on their users destroying their art well I wasn't into the to the to the goblins and I just actually the first time I've even heard of him but it does kind of shine a light on how undecentralized some of this is right like the fact that the image that you bought can just be changed like that that's pretty embarrassing for for NFTs in general right like but as you're saying if they're looking at some ipfs and it's and it's decentralized and you know once you have the image it can't be changed or let's face it ordinals right ordinals on Bitcoin or that right they're enshrined in Bitcoin you know so they literally can't be changed that's obviously a huge benefit over how it is on on ethereum it sounds like it's not a complete rug pool which is just like a temporary rug pool where they've screwed everyone around so that they can reissue them with a token via a snapshot and then they get their NFT from that and then maybe it is going to be a permanent NFT the next time I don't know I don't know who knows but this is kind of some of the problems with smart contracts in general is that and I'm not sure I'm not going to profess and know how how the goblins are the goblins have been done but you know you can have like a smart contract which seems legit but it's done via a proxy contract it's that it's upgradable and therefore it can be changed at a later date and then suddenly like you know that contract that you originally were involved in has been superseded by the proxy by something of the proxy contract and therefore you know there there's like that's it you know the rules have changed and and that the fact that yeah it's not kind of truly decentralized the company can just do this to people and cause this this you know this crazy heart-stopping moment for people that pumped all of their money into these goblins it's kind of it's kind of sad and hopefully people don't get too stung from it all but yeah it kind of goes goes to show that there's there's some things aren't imutable I don't want to be mean but I do think it's kind of funny on both sides it's funny that the people expected their NFTs to stay the same without having them frozen written into IPF IPFS and it's also funny that this company thought they would make all of their money on the market royalties it seemed to me just from the beginning and again I'm not some great hacker whatever but I think about things and I'm like well if I had a goblin in account and I traded my username and password to you and you changed the password it's as if we've traded the goblin without using the market because we traded accounts and that's a very simple thing that would obviously destroy their business model if anyone ever thought of it if you're selling something with a major royalty ten grand or something it's easy it's worth changing accounts right Rachel what do you think about the goblin rugapool yeah I mean like yeah I really followed NFTs I mean like you know I do believe I think like digital collectibles and something along this line will of course be a thing right you know it's just human nature and you know that there you know I don't think anything we see today is it for sure but I mean I think there's something in this that will blow up but for me I'm just more interested in the Bitcoin stuff and not to like diminish the idea itself I'm just having a lot of time with the interest but I mean but it's interesting to me with this phenomena because you know during kind of the last bull run I was in for a good trick of it was in play at all Carmen and Mexico it's like a digital nomad hub we get a lot of these like you know kind of digital nomad types there right you know it's very transient kind of it's an era in Mexico with a lot of people speaking English and it's quite you know kind of gringo kind of area and so they had a credit on meet-up there that I used to I used to go to relatively regularly it was just like a generic meet-up but you know it had like sort of 300 people were going so it was a good place to meet up and do you know Peter P trading and things like that I talked a lot of these people about the stuff a lot of them were kind of newcomers or not particularly fluent with the area right and they'd be like you know they tell me all these things about NFTs and the artworks and stuff and I said like you know you don't like own that picture do right you own a hash that directs you to open sea and they will display your picture if that website is live and they want to display this picture right you don't actually own the picture and it's amazing how many people that just blew them on the hand and they thought about having them looked into it but they had all these things to say about decentralization and artists for all teas and I think this is exactly just saying is you know the idea is a noble one right is that you know like there's digital realm opens up all these areas for artistic expression and and also some ways that you know perhaps it might break the you know the broken or the changed model about artistry and emeration which which we have as a result of the digital age right but a lot of these people they they're not really interested in that they just see money and they see a way to trade things and that's all they give a fuck about and that's all this is built about and you know this this kind of like unhappiness I think on both sides this is a thing of on one hand some guy thought they're creating a nightwalk thing not because they liked it but because they're expecting to get a financial gain out of it and be I think like as you said Martin like you know that's really you if you own this like middle finger thing this is like a piece of artistry man you know like this is an NFT this is a you know very nice simple move out right which I think will eventually all evolve to something which you know like a majority of people would find interesting and worthy of some degree of money and this is like a little piece of you know just like if you have one of these board apes or these crypto punk things right you know that's it's a historical artwork which I think will have some value because of its place and you know and this is a part of the story right and so if that happens to me I'd be like fuck yeah this is great you know this is like something tell the grandkids about which is you look at other art you know that's what gives it a lot of you know value you know it's why you can take a banana to a wall and sell it for money because this is a story right you know but the fact that you know these people don't even see that just says you know this is not to do with artists just people trying to you know it's the same thing as our coins but it even smarter more nefarious where the same thing of like create a bullshit narrative flip it off from money and then get out of there before it all blows up and a ball of flames and over the last one hold the bag and that's really what all the shit is you know I think this is a great example of it you know so so it just goes to show how much much of a scam the whole NFT spaces when you see things like this which really should you know should neither of these two sides should be unhappy with what's happening but they are because obviously there is a big thing to make money rather than like they're interested in the art so yeah it is interesting how many people believe that they own the JPEG when really like you say they own the signature I'm so early I think of myself as a signature collector where I do own the signature and in a way I think of it as a double word on the signature where it is you know the digital signature but it's also like the author's signature or a link between me and the great artist where I'm like wow I collected a little piece of him or hers great works so it is interesting to see that but yeah I do think it's could blow up in a lot of fee bill spaces Danny I'm more on this I just you just imagine maybe think of the the you know the banana on the wall when you said that I remember back to seeing an art like I don't know if it was true or not but it was like some guy had dropped his sunk his clutches glasses in a in an art gallery and when he went back to like find them there were people gathered around like taking photos of it thinking it was part of the display they were just on the floor next to the wall and the people just like posing next to it and I don't know if it was Eric Andre or the Ali G guy but he had an art gallery where he'd set it up and he went in like smashed a piece and like went all over and everyone's like oh no oh no I don't know it's part of the act like you re-rigged the whole thing so art art is fun and now you guys have got me thinking I need to buy one of these goblin towns if they hit the market so I could get my hands on this amazing middle finger design that they've come up with but we'll be interesting to see how it all sorts out we're running out of time Dan are you ready with a prediction or a story of the week go ahead um my story of the week of the the the work that I work that I cannot speak of just hit milestones so that's that's what I'm just really happy about that I can't say anything more but and then also it's my son's first birthday which was really cool this week so yeah nice whole soon nice whole some week for me oh happy birthday to dance little one a ride you'll do you have a prediction or a story of the week go ahead bro on the spot here um no not really I guess my only prediction will be that plan B will make a price prediction at the of the things going up at absolute the worst time and will be uh made to look like a fall again but now we'll remember and just follow a cap we'll continue going up that would be my prediction I've seen it with these price predictor guys they always say that it's going up but it might go down it's going down yeah that works great you're always right every time um martin wish mayor prediction or a story of the week go ahead uh story of the week I will be attending the Bitcoin 2023 in Miami I think that's in about a month or so so I hope to see you all there and just it's going to be really busy so just drop me in line if you want to meet up because otherwise agenda full is agenda full but it's going to be fantastic no music festival this year but you know most Bitcoiners are in really great dancers anyway so uh it's going to be great it's going to be lots of Bitcoin as everybody's going to be here um I don't know a ritual about swan bitcoin last year they had these flights suits didn't they that like flights suits and they were walking around but uh that was like pretty cool I think it was one of the cleverest marketing things I've seen instead of getting a booth you just have your guys all wear the same suit or whatever it is absolutely we'll see how much yeah much one of those booths the class I think it's a smile that's the boots are expensive but the ATMs are heavy and I can't like you know hold them like or put them all wheels maybe I should put them all wheels and just reel them in but uh now we have a small booth or medium booth I don't know is drop by the booth say hi uh we're still waiting for some merch so there will be some goodies for the goody back for everyone that sounds great looking forward to that and uh I have a story of the week this week I want to just say shout out to people the great artist who does everyday work he's done more than five thousands works uh he did a recent one where he kind of references uh a theorem NFT history and if you look down here in the right hand corner right above the Ethereum logo is the apple and we believe it's the apple from Kerio cards um my 2017 NFT project that since got rediscovered so very cool to be included uh in a people uh so shout out to him it's very cool thanks to everybody for joining us this week be sure to give us a thumbs up and put a comment down below even if you want to just put like four algo people have been putting uh just to make the twitter algorithm youtube algorithm love us more so thanks so much for joining us until next time bye bye