#387 โ€” The Bitcoin Group #387 - ETF January? - $100K Bitcoin? - Passports - FTX Profits

๐Ÿ“… 2023-12-16๐Ÿ“ 7,957 words

The Bitcoin Group, the American original. For over the last 10 years, the Sharper Satoshi's, the best Bitcoins, the hardest cryptocurrency talk. We'd like to welcome our panelists, Robert from Bitcoin and Friends. Hey everybody. And I'm Thomas Hunt from the World Crypto Network. Moving on to issue one. Issue one. Gary Gensler. The SEC is taking a new look at Bitcoin, ETF applications. Yes, we're talking about the ETF again, which Adam Back says could drive the price of Bitcoin to $100,000 a coin. Yes, they say online that more conversations today in and around legal teams at the SEC about spot Bitcoin ETF applications. Without equivocation, there is an unrelenting belief that all approvals happen in January. This has been the belief since late November. The SEC, divisional staff and work is being dominated by this process and meetings according to AP underscore advocates on Twitter allegedly with an inside source. He also says they're preparing for Bitcoin spot ETF approvals. Google has updated their crypto ad policy. This means that the approval odds move to 99.99% excuse me, expecting black rock, fidelity, and I can others to spend big on ads in quarter one, expecting at least one super pull Bitcoin ETF advertisement. Meanwhile, JP Morgan says ETF optimism is over hyped and Ethereum could overshadow Bitcoin in 2024. Robert, what do you think about all the Bitcoin ETF hype? We have to talk about it every week, but it could be big. Yeah, for a few more weeks, we'll keep talking about it. I think if I had to guess or I've had to wager, it sounds like it's going to happen. Although I did see a video of Gary Gensler, I think Odell posted it today and it was quite funny because he looked very sweaty and unhappy when a woman, a reporter asked him about Bitcoin. He was talking about treasury policies, much more important. That was quite funny to see that. It looked to me like someone had told him, scolded him perhaps a little bit or scared him or threatened him or I don't know, but he looked very uncomfortable. But nonetheless, it seems like it's going to happen. 100K USD for a Bitcoin. Sure, I don't think that's crazy. I think that could happen within the next six months. Eventually, we're all going to be millionaires. It's just a million won't buy much. It's just a matter of time. A million dollars will get you a hamburger and french fries. It'll be great. I agree. I think Gary Gensler is tired of it. He wants to move on to AI, which he said is a more important threat to the economy than stupid old Bitcoin. But if he wants us to move on, he has to settle the issue. He has to let us have the Bitcoin ETF. As we've said on the show, 100 times or more ETFs allow normal people who have stock market money. A lot of it comes from their employer and it's pre-tax money. So they give you the money with no taxes. You get the full 10K. You go out there and invest and later on you pay the taxes on the winnings. It would allow those people who would have to pay a tax hit, not that big a hit less than 10%. But still, they'd have to pay a hit to sell and go on the open market and buy Bitcoin. There is in their minds with this pre-tax benefit money that you get from your work sometimes. They'd want to invest it in Bitcoin. They could do it through one of these ETFs. All these companies would make tons of fees. It would be good for everyone. We've been talking about it for years and years and years. It seemed like a slam dunk when we first talked about it. It was like, there's a diamond ETF. There's a spider ETF. You can invest in spiders. Why anyone want to do that? I don't know. There's baskets of ETFs, diamonds and spiders. There's all these things you can invest in. But you can invest in Bitcoin. I think they're coming around to it. I think we're going to see it as Adam Back said with the price 100K before Bitcoin having. He's saying a lot of that because of the ETF. Let's move on to the exit question based on this article here. J.P. Morgan says ETF optimism is overhyped and ether could overshadow Bitcoin in 2024. We've talked about it before, but I don't think Robert, we've gotten your opinion. After there's a Bitcoin ETF, it kind of seems like you gave a mouse a cookie and there'll be an Ethereum ETF and a Litecoin ETF. I don't know what else ETF. What do you think about the possibility for Bitcoin ETFs in 2024? Right. Well, I have not followed the Altcoin market really much at all in the last few years. I think the last I remember hearing that Ethereum was not considered a security. Is that correct from Gensler or someone that they sort of gave it an exception? It's a very strange ruling where they said Ethereum is too big to fail, so it's too big to regulate, so it's not a security. It's all a security all the time that we were calling it a security and warning people that it was a security, but it turns out much like Facebook, move fast and break things. The law doesn't matter that much if you make a billion dollars. Right. So too big. Okay. That sounds to me like they probably bought some people off. Yeah. I would be surprised, I guess, given that ruling if they're not going to then go ahead and allow an Ethereum ETF. And I think Ethereum is much more aligned with these crony capitalist fiat currency types. Anyway, right? It's a fiat chain, basically, right? So yeah, I think that is likely to happen. That makes sense to me. I would say yes. It has changed a little recently. It's more deflationary than it used to be, but I agree with you. It does fit with the businesses. There's a way to roll back the chain. If you get hacked, there's a creator, there's a founder, there's a foundation. There's a lot of these more business sensible things, whereas Bitcoin still kind of wild west, right? Right. And it's proof of stake. To me, proof of stake is the existing current monetary system. So they've basically just redesigned it to a large degree what we already have today with crypto, you know, attached to it. Good marketing. That's one of those things, whereas it's completely true, but there's a possibility that might be worth money and the existing market might like that. They might like a copy of the monetary system, except digital. Right. Of course. I agree. Moving on to issue two, one million dollars. Arthur Hayes is back. And apparently if you start a large Bitcoin exchange, you can get your predictions published in the newspaper. Seeing this prediction makes me want to do a mad Bitcoin's prediction web page. Write a bunch of articles, probably with my friend chat GPT and talk about mad Bitcoin's prediction for infinity dollars. All of the dollars into Bitcoin infinity is the largest number available. It means that all of the money would be converted into Bitcoin. Arthur Hayes is on his way there, though, with his million dollar prediction. Thomas Hunt, what do you think about one million dollar Bitcoin? Well, I agree with Robert. I hope it happens soon and it happens without an economic collapse that it happens because a lot of people just suddenly wake up and start buying Bitcoin with the demand causing the price to rise, not the economy on the other side completely collapsing and the world devaluing to the point where Bitcoin rising because like Robert said, it has to because a big Mac costs a million dollars. So a million dollars of Bitcoin is suddenly no big deal. As I said in the prompt, I'm surprised once again how the media or daily huddle if that's the media these days loves to quote big famous rich people who run companies about their predictions, even though they haven't been correct all the time and have been occasionally accused of crimes allegedly. I think they should quote mad bitcoins who told you back when Bitcoin was a hundred dollars to buy Bitcoin and hasn't really said anything different since. Robert, what do you think one million dollars is that rich enough for you? Maybe not on an economic collapse, but maybe just a Bitcoin contagion. Like if it hits 250, people say why not a million and buy it up until it hits it. What do you think? Yeah, well, I mean, Hayes is not the only one who talked about a million. I think let's see. We've got Jan 3, goodness, Samson has said one million recently. And then you got, I think, a sailor. I think I saw something about five million on the table, although I don't know how much at time table he's given for that. Yeah, I mean, it's of course. Bitcoin will be a million dollars someday for sure. It's just a matter of, as you said, is it because the dollar has collapsed or is it because Bitcoin has hyper Bitcoinized or is in process of doing so? But eventually, and maybe it'll be a combination, most likely of those two things, right? Because I was reading, I think, from the links you provided today that don't spoil it, but it looks like they're probably going to cut interest rates again. They're nodding in that direction. And so if we're back in a, you know, a risk on environment, then sure, Bitcoin to a million in 2024, I think is possible. I don't know if I'd bet heavily on it, but I think I think half a million for sure is very doable in my mind and potentially a million. Yeah. We've come so far. Half a million is easily within sight now for Bitcoin. Back in the day, there's a hundred dollars and I was begging my friends. I was like, buy Bitcoin. Set up your accounts. Buy it. Sign up for this thing. Put all the money you have into this weird Coinbase website. And nobody would do it. Nobody listens. I remember when I tried to orangepill my cab drivers in New York and I would be like, you know, someday this is going to be worth a thousand dollars or, you know, maybe a couple thousand. You know, yeah, it's been wild. I mean, it's been almost 10 years for me, I think, at this point and longer for you. We keep winning, Thomas. So how can we win so hard and for so long? Well, once you get to that point, it really does start to like come true where I had this contest years ago, 2014. I was supposed to do a show about it when it comes up to the anniversary and everything. But the costume contest and I put up little QR codes and I gave everybody a paper wallet. It was the only copy of the wallet. I wrote that on the envelope. This envelope is money, save this envelope. And we raised about because people voted with donations, we raised about 60 bucks for the top one, the alien costume. And now it's worth like five grand and it's unsplamed and it's locked in this wallet. And if they save that envelope, if they save that piece of paper, they have five grand. And if they didn't, they have what's even worse is a story we can tell every year or every five to 10 years, what we say, I wonder how much that five grand is worth now. Oh, yeah. I'm sure it keeps getting worse and worse. We got to move to the exit question. The price of Bitcoin predicting against the Bitcoin predictor ball, the source of all truth and knowledge. Robert, this time next week, will the price of Bitcoin be higher or lower? Oh, I'd say higher. Higher. We're going to ask the ball shaking. It could cause bubbles. Will the price of Bitcoin be higher this time next week? My sources say no. Second week in a row, the ball is pessimistic. It sources say no. Moving on to issue three international issue. Argentina's Malay so far, shunning Bitcoin as predicted on this show, devalues the peso by more than 50%. The government's official rate is now 800 pesos to the dollar versus roughly 400 previous, a disaster for anyone who owns pesos or anything denominated in pesos. A move so good, it was applauded by the World Bank. Meanwhile, in El Salvador, they've invited Bitcoin millionaires to quote unquote rebuild the country. While many are critical of the Bitcoin freedom visa, which cost a million dollars in Bitcoin to the government of El Salvador in exchange for quote unquote residency, not even citizenship. The president of El Salvador said he wants Bitcoin millionaires to rebuild the country. Robert, what do you think about what's going on in Latin America and South America in Bitcoin international? Yeah, Malay is an interesting figure. I don't know what to think of him yet. I mean, he's definitely talked a good talk. I think, quite frankly, the free market rate for the peso, I think I read that article was like a thousand to one. For them to cut the official rate closer to that is actually what you have to do if you want to start to dollarize the economy, which is what he said he plans to do. That makes a lot of sense because most of the black market activity is dollar based and that's what people are wanting to use. I think that strategy seems to make sense. Of course, longer term, no one should be using dollars if they can help it because they're jumping from one burning house into another one. But perhaps the burn is a little slower with the dollar than with the peso. It seems like he's doing more or less what he's promised so far. And he's got this IMF thing so he may not come out and outright embrace Bitcoin soon. But I would love to see it happen. I guess we'll see. I'm just going to go back to my same old idea about the Bitcoiners need to choose their friends better. We need to not get attached to the first person that comes along that likes Bitcoin. Sure, it's great that a country takes Bitcoin. It's great that a political figure, a libertarian figure in Argentina expresses interest in Bitcoin. But then the reality is, as we have no idea what they're going to do afterwards and we sometimes don't even know what they did before. So I think it's very dangerous when we keep getting in bed with these people and keep kind of worshipping them when we need to be a little bit more standoffish, a little bit more like we are when people say they want to help Bitcoin by changing the number of issuance or doubling the block size, things like this. We just need to be more cautious and be more careful. Yeah, and to the El Salvador point. So I've visited twice now. I am overall, I would say, pleasantly disposed to El Salvador. I think there's on the whole positive things happening there. Yes, I wouldn't want to trust my entire life and everything to President Bukheli. I don't know this guy. In terms of this new residency program, it looks like a cash grab to me and my guests is they're just hoping that some wealthy Bitcoiners are also not that smart and they just decide to give them a million dollars. If I've spoken with lawyers in El Salvador and you can set up a business there and get residency for a few thousand dollars and you're good to go. So why would you give them a million dollars? I mean, you can get residency open a business. I mean, granted, it needs to be a viable business. But for anyone that has the ability to travel and work remote and is interested in moving to El Salvador, set up a business. It's not that hard to do. And yeah, you can save yourself, you know, whatever that is, you know, 995 thousand dollars. It was shocking as well to see the difference between El Salvador passport, which you can't really travel anywhere and the EU passport, which as we know, you can travel and live anywhere with the EU passport. It's an incredible thing. You could get it for far cheaper than what he was offering. So I thought the passport program wasn't that great. The article this week where it kind of says like, you got lucky and you were early on Bitcoin. Maybe you even have libertarian feelings. Why not come down to a random country called El Salvador and help us rebuild? I didn't really see it. I was like, they could rebuild their own neighborhood. They could rebuild Detroit. They could rebuild Canada wherever they're from. It doesn't matter. The idea that they would be randomly attracted to El Salvador, I suppose because like we said, it's a Bitcoin country and they have a Bitcoin beach and they've had some conferences and you know, Robert's been there. But still, I mean, we have to be more careful about if we're going to give someone millions of dollars or even more. But it is interesting and why not try this? If you're from a small poor country, why not give this a try? If you're an elected leader or an unelected leader, either way, why not give this a try? And maybe it works. Maybe there are some people with way more money than sense and no interest in how it's spent and maybe they can spend it nice, you know, build a water treatment plan or something. I mean, there's lots of positive aspects that could come out of this. But I think, yeah, we just need to be more careful and it's interesting to see how this can turn out. And once again, anyone can put the Bitcoin hat on and we can't stop them. So, you know, we accept a fit. Affinity scamming will continue. Exactly. We'll continue. We will continue to have no way to stop this. But for now, we'll have to move on to the next issue. Issue four, bad timing for Sam Bankman-Freed. Here's how much FTX's assets would be worth now. And I suppose this kind of article is going to keep happening. Obviously, he was accused of crimes and he admitted publicly on coffee silla and other shows on the internet that he co-mingled funds within his business. He did not keep investment and savings funds separate. But now they're saying because he had so much silla, you also had an AI company. He had something called Serum that now he might even break even. And if only he'd been able to stall and last longer, maybe he wouldn't be going to prison for life. Thomas Hunt, what do you think about FTX and Sam Bankman-Freed breaking even? Well, like I said, I do think these articles are going to go on and we could talk for years and years about the value of his assets in the future. But the value of his assets at the time of trial were what they were. Could he have perhaps stalled longer? Could he have delayed his trial the same way that Elizabeth from Theranos delayed her trial by getting pregnant? Not exactly. Maybe he could have had a family and a girl and she could have gotten pregnant. It's not exactly a junior situation with Arnold Schwarzenegger, but maybe if he had great depression or some kind of illness or something, he could have delayed the trial. That's interesting. Interesting what if, but as we know, SBF looked terrible and his trial did bad on the stand, did bad with the plan, caused all of his friends and family to testify against him, his family to watch what he had done, what they had spent the money on. But in the cold light of day, if he had stalled for six months to a year, would this all be different if he had not given up the company immediately when there was trouble? Robert, what do you think in an alternate world is SBF? Get off Scott Free? I think it sounds like it's theoretically possible. Yeah, I mean, what do they say that the famous, everyone looks good when the water's out, when the tide goes out rather than you find out who's naked. He was clearly flying a little too close to the sun with all of his dealings and co-mingling. No, I don't have any real sadness for the guy. He was doing a lot of criminal things, taking client money and gambling with it. So, yeah, I mean, it's kind of sad, but it's also that, I think he's getting really what he, what kind of what he deserves, right? So, yeah. Well, we've seen before in the past with other Bitcoin scams that because like we were saying earlier, the price of Bitcoin trends to go up, if you had said, I'll hold a Bitcoin until it's a million dollars and sold a million dollars worth of tickets, at some point, you could be correct. And that could be a fair ticket where you'd trade him a dollar for that ticket again, but it might be a while. And it's all about the representation. SBF and the company represented that they would hold your money separately, that they would not be gambling and investing with your funds. It turns out that they were. They were giving them to another company called Alameda, allegedly, of course, and so forth from the trial. But the company Alameda then lost the money. That was your money. That was your savings that wasn't supposed to be gambled with and invested. So it doesn't really matter if the gambles would have paid off. It's like saying, I bet all of your money on the Super Bowl and I won. So it's okay. Right. Because I won, whereas very easily with many events beyond my control, I could have lost the Super Bowl bet and it would be a disaster. So yes, not still no good. But let's give him credit for riding the article and for trying and horror upon horror as if Salana and these other strange things and the AI company becomes a big success. We're going to see other articles where they talk about like SBF was a genius and a generational investor. And if only he'd been allowed to carry out his plan, all of the people in his company would have been fine. So it's another series article like that. If you'd invested a thousand dollars in ripple at this day, you'd make this much. Yeah. Yeah. Which is unfortunate because regardless of what happens, he was still acting illegally. He was lying to people about how he was using their money and what he was doing with it. So yeah, SBF. I mean, it's good that this whole thing is blown over finally for the most part and we can move on from him. Well, and a lot of the things that we give him credit for the reason we know his name, the reason we know FTX, you know, because he bought blockfolio.app because he bought the arena, the FTX arena because he bought Tom Brady. If you follow the trail of where the money came from, it probably came from customer deposits. The reason we know about him, the reason of his fame and all of these things is customer deposits, bad management, bad setup from the beginning. It's shocking that it happened at this billion dollar scale. But otherwise, it's the same old story, the same old song and dance. Yeah, yeah, exactly. All right. Let's move on to issue five grab bag. We've got a little bit of everything. In 2014, Jimmy received around 23.5 Bitcoin from Kind of Strangers. That's more Bitcoin than 99% of the world will ever own. Jimmy sold it. Yesterday, he tried to make a joke about Bitcoin. The fiat value of Jimmy's Bitcoin would now be worth over a million dollars. The jokes on Jimmy. This is all about how Jimmy Wales from Wikipedia, who famously accepted Bitcoin, then sold it, wouldn't save it on Wikipedia, says, I forgot my bank password and lost my entire net worth. No, actually, that didn't happen because bank's work and Bitcoin doesn't. There's a classic Bitcoin joke there from Wikipedia. We also want to celebrate BitsB tripping with a 10 year anniversary of BitsB tripping and a 13th year for Bitcoin mining journey for Michael Carter. What a great amazing journey so far, mining like a boss. Here's to 10 more years, my dudes. If you guys don't know, BitsB tripping is a classic Bitcoin mining YouTube channel. They've been mining Bitcoin since the early days. They've had a bunch of graphic cards and they build risers for them and they talk about the percentages and he camped out overnight at least a couple of times to get a new graphics card. An incredible dedication from Michael Carter and his crew and his team. Now, I think they're doing incredible work, installing like industrial level Bitcoin miners at electrical places for states and other large industries and really getting out there with the Bitcoin mining. Congratulations to BitsB tripping and we've also got Mickey Mouse. We'll soon belong to you and me with some caveats. As we all know, Mickey Mouse, at least an early version called Steamboat Willie, is entering the public domain next year. That means Robert, you could make a cartoon show about that Mickey Mouse because he exists in the public domain. He could be a character on your existing Bitcoin or friend show. Of course, only Steamboat Willie, not popular, 1955 Mickey Mouse shown there. This was a delayed by the Copyright Act called the Mickey Mouse Act where they delayed this for about 20 years, causing many films which were abandoned to rot in their canisters as they could not be restored as they also had to have their copyright extended along with the mouse. Disney's power has waned though and the mouse is entering copyright. Robert, what do you think about these issues? What would you like to talk about? We've got Mickey Mouse. We've got BitsB trip and 10th anniversary and Jimmy Wales from Wikipedia making fun of Bitcoin at the same time. It perhaps could have saved his project. Yeah, well, let's talk about Jimmy. We're now, hold on, saved his project. We're talking about Wikipedia or Wikipedia. That's different. Wikipedia and I mean, saved it in the way that if you go to Wikipedia right now, half the page will be covered by a, don't scroll away. Don't need money to Wikipedia. We are broke. It costs money to run servers. Now, I think obviously they should have used some kind of BitTorrent backend and reduced these servers or cloud servers or whatever. But in general, Wikipedia always needs money. And maybe if they had bought and held Bitcoin as a, and just to, you know, let's try this. You don't have to take your existing funds and convert them to Bitcoin. That's radical, right? Right. We just said, any donations that come in and this wacky, weird crypto currency that we don't believe in at all, we're going to set aside, just put in a vault, see how it goes. He has more. He got all that money from people than he sold it. And then now he's just telling jokes about Bitcoin. Wow. If you go to the web page, it's still going to be a giant donation banner. That's kind of correct. Right. Right. It is. Okay. Well, I think he's one of the classic, you know, archetypes, which is this person who has some exposure to Bitcoin early on. He thinks he's smarter than everyone else. Decides it's a scam or stupid or whatever misses out on a fortune and then never has the ability to come back and have some humility and realize that he was, he was in fact the idiot and not the other people. So he's just one of those types. He's got, I guess you could say Bitcoin to arrangement syndrome, perhaps. And so he'll probably be stuck. He'll be one of the very last to adopt Bitcoin and he'll probably be poor and broke and crying. And that's kind of sad for Jimmy, but his ego's gotten in the way it sounds like. And you know, I mean, good riddance to Wikipedia. I mean, it's woke a pity in my opinion. I don't even, I don't trust half of the stuff written on there. So, and I wouldn't give him any money. So it can burn. That's all I'd say. I don't care. Oh, come on. That's not dead. He did make a bad choice about Bitcoin. I think you got him from the beginning there. He did think he was smarter than everybody. He himself probably had lots of money. His company had lots of money and he said, what do I care about these 23 Bitcoin? Right. And I think Wikipedia and Firefox were both the same ones. I think it was Wikipedia, though, who published a study where they said, the more options that we put up for donations, the less money we get. So that made sense for them to reduce the number of options for donations. But Bitcoin is so easy. They could put an address at the bottom of their page. They could put a little text there. They could say, you know, we're aware of Bitcoin. We're vaulting this address. We're securing it. You can send some here. There's many ways where they could have casually side accepted Bitcoin. You don't have to put it in the order flow because obviously, you know, credit cards are most popular. You don't have to say, oh, what about Bitcoin every time? If they'd done that and saved the money, it would help them a lot. It's an open source in cyclopedia project. It serves people. It's really good. It's political issues. It's up and down. Like current events, it's up and down. But it's really interesting how fast it gets edited when a celebrity dies and so forth, what a great source of general information it is. So I think it's sad that he didn't see that. Let's go to the second one. Obviously, Robert, I think you joined me in celebrating Bitsby tripping 10 years in Bitcoin 13 years for Michael Carter. It's a very cool channel. It's very niche. I mean, if you're not into Bitcoin mining, if you don't know what a mega hash is and a graphics card with a blah, blah, blah, and so, so, so you're not going to be into it. But one great accomplishment that they're still going and that they're, you know, doing the heavy duty mining now. I've never heard of the channel, but I think I will check them out after this. And yeah, congratulations. I love it. You know, I love seeing Bitcoin success stories. I think we're going to see many more of those in the coming years. So be persistent is what it looks like to me. Or I use that it for 13 years. So for all you youngins out there listening, don't give up. Keep trying. Keep iterating. And you'll find you'll find your road eventually. Your Bitcoin was he was starting back when mad Bitcoin was still doing daily episodes. We were really the only ones in this space. Like let's talk Bitcoin, mad Bitcoin's bits be tripping the Bitcoin channel. People like that were the original OGs in this space. And it just shows me when he started that no one believed in Bitcoin mining, no one believed in graphics cards mining, but it turned out to be a huge industry. And also the way he was able to keep up on it, keeping the new graphics cards in there, reading the news, going and waiting out at the stores. That kind of dedication shows that when he started this, there were no Bitcoin mining experts. So if you want to be a Bitcoin mining expert or I wanted to be a Bitcoin YouTuber, you just go out there and do it. And if you do it 10,000 hours or whatever it is, you get better at it. And like they say in Wonder Boys, you get where you need to go. So I think he got where he needs to go with this whole industrial mining thing. Finally on to Mickey Mouse, Oliver, Oliver from the Bitcoin and Friends cartoon. This is a pretty good issue for you. I of course am pretty mad about the film preservation crisis caused by the Mickey Mouse copyright amendment, which basically extended public domain like another 20 years to protect the mouse, which I get it from a corporate standpoint. He's their logo. They don't we saw what happened to Winnie the Pooh last year. Winnie the Pooh, not the Disney version, but the original classic entered into the public domain and sure enough, a crew of intrepid filmmakers made a horror film with Winnie the Pooh with blood on his mouth and he's an evil bear and he eats people. And I'm sure they're going to make a follow up next year Mickey Mouse or steamboat Willie with the violent fangs and the claws and try to really kind of take the character for a ride, which is kind of the whole point of public domain. After a certain amount of years, I think it's a hundred, maybe 120 with the mouse troubles. The story has to be let go. It's okay for the family to make money off it for the original man to make money off it and they can still sell versions of it. But the idea kind of needs go back to the public domain and the idea of the singing, whistling, steamboat captain, steamboat Willie is re-entering the public domain. Robert, what do you think about this issue? Hmm. Well, I'm not a big fan of Disney, especially after what they did to Star Wars. So yeah, I kind of hope it happens. I hope they get lamppooned a lot on their Mickey Mouse character. I think it could be quite fun to see what people do with it. Yeah, in general, I'm not a huge fan of copyright and things like that. I think, you know, you build, you create good content and people will appreciate it and building these modes around things. You know, I mean, Disney to me is just kind of, it's been dying for a long time. But yeah, it's kind of fitting that this is going to be hitting public domain right around the time that Disney is losing its relevance. So there you go. It is an interesting end to like a Disney century or a Disney half century. And while of course the original creator was great, some of the lesser people that came afterwards have made a mess of the company from time to time. So it's interesting to see. I think again, it's for me, it's mainly about the film preservation aspects of the other films, which will all come into public domain and which literally were and continue to be at danger of rotting in their film canisters. Now, if a film is not public domain, it can't be restored for free. It can't be adapted for free. There's a possibility you do all this work on the film and they come and ensue you and you have to take it down or worse, you have to pay money for restoring someone else's film that you don't own. So it's a big effect on film preservation and just general things like a bunch of films you don't care about from the 20s that could have been restored and been on the internet archive or a library somewhere, someone could have used them, they could have made other stuff out of them. We lost that. We gave that up as a trade so that we could have 20 more years of the mouse being protected. So now why wouldn't the corporation, disacroperation, restore these things? These are abandoned films. So if you made a film in 1920 and it was released, it's still under copyright to your company, but your company is a dead company. Not every company was repackaged and sold like Polaroid or Atari where there's T-shirts now. If it was like Jones Brothers films and they went out of business but they made 30 great films in 1920 to 1928. We can't restore those because even though right now we can't prove that someone owns Jones Brothers, if it comes down that they find it in their, their vault or their closet that they could own it, they could sue us for distributing their remastered versions of their Jones Brothers films unless they're in the public domain, which as we see the public domain was extended. It was kind of reasonable before or 100 years. I think it's 120 now. I don't know for sure. Put your case on that. But yeah, that general idea of things slowly, eventually entering the public domain and then especially now with the modern era of remix and computers and even when we saw we need the poo, affordable CGI, things like this, there's an incredible amount of work that could be made with this mouse. Right. So it'll be interesting to see what they do next year. And Robert, you're here from Bitcoin and Friends. You've got the webpage up right here. Do you want us to play the trailer? Sure. Go for it. So let's see right here. I wanted to show the graphics on the web. Let's see if I refresh. Here it is right here at BTC and Friends.com, the season one trailer for the new Bitcoin and Friends. I don't know if the audio is coming through. Is it not coming through? Let's try one more time then. Right on here on a different computer this week. So let me try one more time with a share sound enabled this time. Optimized for video clip, we'll do all the buttons. Here we go. We want just a little bit BTC and Friends.com access to the microphone. Okay. Great. The humans are close to releasing their own decentralized cryptocurrency called Bitcoin. It is the final stage of that evolution as a species. Hello? Yeah. Oh, we would have been fooled out. So this is the first. Key, where's your parents? This is my buddy, V. He's looking for his father. This is the most incredible thing I've ever seen. We're building a fortress. A place where the Bitcoin community can unite to fight the forces of evil. Or... Sapphire Tower. Penetrate the sky. Let the construction commence. Hold that shovel, Mr. Sapphire. What? I'm afraid there was a last minute bid on the land. Howdy! You sold my land to about your crackheads? How much you want? We only take Bitcoin. You've all bokeh in the dragon. I'm about to go with your name. You said it all. So long. Bitcoin. That's the... Yes. Might have cranked the hash rate up a little too much. Go, Bitcoin! Matthew can stop you. Bitcoin. Wow, that looks incredible. I think you've seen a Bitcoin and friends. Robert just told the people about it. Maybe they haven't seen it before. Heard about it. It's kind of like a Bitcoin South Park. What's the deal? Sure. That's a decent way to put it. We wanted to... Anthropomorphize Bitcoin as a character and follow his life story. He's born. His father leaves. He creates him and leaves him for his own safety. And then he's in this world trying to understand his place in it. What he is, who he is, what he's supposed to do. And runs into some characters including Metallic buterin. And our butane, I think we call it Metallic butane is what we... And yeah, so it's just... It's basically telling the story of Bitcoin. But having some fun with it. It's not exactly historically accurate but there are some elements that rhyme. We introduce a Craig Wrong character. And some folks may have seen it. We actually released in 2019. And we have gone back to the drawing board and totally redone the first season. It's probably... Oh, 90% new content. So it's a very different beginning and end are somewhat similar. Most of the middle of the season is totally different. But yeah, we tone down. It was a little bit more raunchy. We've toned the language down. We want to make it a little more family friendly. Still got some, you know, some innuendos and jokes and stuff. So I think it's going to hit with a lot of people. We definitely lampoon a lot of, you know, notables in the industry. And we'll continue to do that. Hopefully as we make more seasons, we have more outlines ready to go. We just want to see if we can get enough of an audience to support it and keep the lights on. So that's the plan. January 3rd, there'll be three episodes you can watch. Metallic or fatalic, that's definitely my favorite character. Yeah, he's quite lovable with his inhaler and all. Yeah. So, but there's a few new guys. Like I said, Craig Wrong is one of the newer characters that we've added. A lot of the ones that were there came back and we wanted also to focus. We got sort of pulled in too many directions in the original right. So we've, we've focused on the core of the four core characters, Bitcoin, Metallic, Harold and Jones. So it feels a little bit more like a sitcom and there's a lot of fun back and forth between the characters. But yeah, looking forward to you getting to see as well, Thomas. And, you know, for those you didn't know, Thomas has been involved a bit in the background in terms of ideas and. Hopefully bringing on a little bit more as we move into second season. Yeah, I definitely love the writers, Vitalic, the Vitalic character. So good. He kind of, he has this like love for Bitcoin. It's a little, a little over the top, a little romantic, perhaps. Yeah. It's just great to see him and I met him a couple of times in real life. And he really did have this love for Bitcoin before he turned to the dark side and picking up the theory. And I don't know if that happens yet in the show because it's so, it's so early in Bitcoin's early days. But it's great to have Vitalic there and to have him as, as you can see, like this goofy character with inhaler and the getting overly excited and geeking out on stuff. It's just, yeah, it's a, it's a great creation there. Thank you. Yeah. And we, so we are, we are pushing the story arc with Ethereum. Ethereum will be in the show as this obese female coin character. While she grows obese over time as there's a bloat in the Ethereum blockchain, of course. But yeah, I mean, we, we really, you know, there's, there's a progression and a story here. So first season, Metallic is sort of flirting with modifying and changing Bitcoin and doing all these extra things, smart contracts and things he wants to do with Bitcoin. That doesn't work out. So he, he will ultimately become, you know, sort of despondent and move on from Bitcoin to Ethereum. And then who knows maybe someday in real, in real, in this world and reality, Metallic will come back around and would be wonderful. You know, I'd love to see some of these guys that have gone, gone astray. So to speak, come back to the original mission. Same with, same with the Cardano dude, you know, I don't know if you saw him freaking out, but Oscar's, you know, these guys have good brains on their shoulders. I just think they've, they've gotten distracted or, you know, maybe, maybe greed, maybe, you know, a little bit, a little bit too much ambition or something. But anyway, so yeah, we have fun with that character quite a bit and there's a lot to be said there. Well, I could see already there's definitely a scene there where Vitalik comes back and he's like, hey, we could do NFTs on Bitcoin. We could do all kinds of things, you know, now that we have these layer two technologies and he's like, I'm excited about you again, Bitcoin. And maybe he doesn't see Ethereum and he doesn't see it anymore, something like that. Yeah, for sure, that would work. But yeah, everyone should check that out at BTC and friends.com. We need to go to predictions or story of the week. We kind of did story of the week. Robert, do you have a prediction? Anything you want to predict about Bitcoin, upcoming months? That's a good one. Good question. Well, I think by the having, I'll say we're going to be at, I would say 100K by the having. That's my prediction. All right, I'm joining Adam back for 100K. Yeah, I'd agree the same kind of thing. I think we're just about to enter that period where people start calling you up about Bitcoin again. All your friends and family are going to see on TV that Bitcoin's back that it's not dead. They're first going to ask like, I thought it was dead. I heard the CEO was dead. I read a negative article. They'll have some kind of reason that they believe that it was dead. And he's saying, no, same, same thing you bought at $300. Still worth more. Still a good investment. A good investment then a good investment now. Yes, we're going to, we're going to recover this again when it goes to 80K. And you're going to say, why didn't you tell me to invest at 40K? And I was told you to invest at $300. And the same investment, same thesis keeps coming out that this Bitcoin is a good thing. So I'm going to continue with the positivity and say that Bitcoin is a good thing. Your friends and family are going to contact you soon. So thanks to Robert for joining us. Thanks everybody. Give us a thumbs up down below. Subscribe if you haven't. We'll be back again next week. We still have our end of the year episode coming up at the end of the month right before January 1st. We'll be recapping everything that happened in the last year. But until next time, bye, bye.

Primary source transcript. Whisper AI transcription โ€” may contain errors. Do not edit.