The Bitcoin Group, the American Original. For over the last ten years, the sharpest Satoshi's, the best Bitcoins, the hardest cryptocurrency talk. We'd like to welcome our panelists, Victoria Jones from Satoshi's page. Hello, hello. Josh Shagalla from the standard.io. Oh, I didn't see you come in. Good morning. And I'm Thomas Hunt from the World Crypto Network. Moving on to issue one. Issue one Bitcoin, top $63,000 a coin for the first time since November 2021. Spot Bitcoin ETFs are seeing massive inflows of money and Bitcoin is crossing $1,000 milestones one after another in quick succession. As well as one new reason for the Bitcoin Mania, simply not enough supply. There's a fundamental law of economics at play in the new Bitcoin market, Mania. It's supply and demand. Yes, the media is waking up to the halving. Victoria Jones, what do you think about the price of Bitcoin and the upcoming supply happening that will cut the supply of Bitcoin in 50% down by half? Yes, it's very exciting. We've wasted a long time for this in anticipation of it. And historically in Bitcoin's price cycle, there's always been an exponential rise sometime after the halving. Often what happens is it will settle down after the halving and then there'll be another exponential rise. But it does appear that the ETFs have completely changed the game this time and they're all fighting over the few Bitcoins that Bitcoiners won't let go of. So yeah, I'll be interesting to see what happens. Well, I want to stage the first complaint here. I am mad. I am upset. Why didn't we have these stupid ETFs years ago when the price of Bitcoin was nothing, when all of us probably had more coins? Well, I couldn't have gotten their business together and started buying these obviously great assets called Bitcoin. I was talking to my brother today about how we don't even really need to do this work anymore. People on CNBC who are famous CEOs and rich people are telling other people how great Bitcoin is. We don't even need this grassroots thing anymore. That's how far we've come. That's what we have. But again, what if this had happened two years ago, four years ago, six years ago with the Winkelvi or other people, we would have this same effect of big money coming in and hoovering up or vacuing them up all the Bitcoin. And Adam back also said 100K before the happening, which is now back on the table as a possibility. Josh, what do you think? Big money people are here. Suddenly, Bitcoin's not for criminals anymore. Suddenly, it's 10% of everyone's portfolio. Yeah, I'd like to see an apology from some of these headlines as well. The stuff that we had to fight against along the way has been crazy. But yeah, I don't know, man. Once everybody's in the money and remember for it, please remember, it doesn't just go up. And the thing is once people have a good amount of profit, they start to, you know, they're better half goes. You better sell a little bit. You know, you've already made 200%. Or whatever it is, you know, 115, but you've already made 15%. You know, that's where it starts. So it's, it can get really intense in the family home when it's going up like this. And you know that people that are in the profit now, I've been waiting for years. Some of them. And so there are a whole bunch of people that have got a lot of pressure behind them. But the difference this time is that you do have BlackRock and nine other ETFs, by the way. I pick on BlackRock because it's the brand. But there's nine other quite large ETFs that are very well connected. And more green, more to be greenly in Europe soon as well. Probably. And the real, the real horror show is here, right? Josh, the, the banks are literally buying up your Bitcoin. When you lose interest, when you give up on Bitcoin and you sell the banks come in and buy it up as a kind of thing where I used to tell people try to get one Bitcoin. You know, it's only $500. You know, it's only $1,000. It's only $20,000. It's $50,000. It's $50,000. Right? It's no longer possible to say to a normal person, just get a Bitcoin, maybe half a Bitcoin, maybe a tenth of a Bitcoin. But if these bankers keep buying it up and they have no reason after they've bought it, they don't have to sell to pay rent. They don't have the, the problems that you have. You get in a car accident, you owe a bunch of money. Stuff like this doesn't happen to the bank. So they can buy and hold on a system on a strategy. And I think we're going to see that, right? Yeah, that's right. But they will also sell. You know, a lot of people talk about buying, buying, buying. But there's people that will also sell the ETF. So yeah, interesting times, interesting times. It's amazing that we're already, it's two. This 100 push-ups per day till $100. It's not going to be that hard. It's a lot of push-ups. Let's go to the next issue before we predict the price. Issue two, Merrill, Lynch and Wells Fargo are taking Bitcoin ETFs even more mainstream. Wells Fargo and Merrill Lynch are following the other banks as if they were dominoes. As predicted on this show, many times. Look it up. Once the banks join in, one or two of them will break. The other ones will have to join like dominoes and here are the dominoes. Their customers are demanding Bitcoin. They would love to make the 3% or whatever it is often a knock-in to BlackRock. Josh Agala, what do you think about Merrill Lynch and Wells Fargo are here to give you a Bitcoin ETF? It's just playing out so hilariously as we all predicted, isn't it? It's amazing that I don't actually like these banks coming in and taking out our precious Bitcoin. Really, we should be calling for a Wall Street bet style hold. Don't let them take it. Don't let them break GameStop. Just keep buying. I like the stock. I like the coin. We talked about 6102 last week in the idea that in 1933, the government could come and seize your gold. I don't think it's going to be that way. I think it's going to be like Josh as with this persuasion. They're going to offer you 62K. They're going to offer you 64K, 67K. Oh, 80K. They don't care. They've got a deal set up to sell this at 120K. They're good. They can just keep offering you and you'll think it's a good deal eventually, but they'll just keep making money. It's a very tough time for Bitcoiners. Everyone wants to sell. Now there's actually someone they're waiting to buy. Victoria Jones, what do you think about Merrill Lynch and Wells Fargo joining the nine already announced. ETFs. Yeah, I mean, they're all piling on the bandwagon. And of course, we've seen in Bitcoin's history that it goes through these phases. I mean, the ETF funds are run by human beings who are just inclined to be emotional as, you know, us normal folks. But what's scary in this situation is that they've got a lot of money to make more mistakes. So they can buy it on the way up and they can also sell aggressively on the way down. And so, you know, those people on the ground who've been, you know, saving in Bitcoin and maybe seeing it as an alternative to a pension could easily be wiped out by those kinds of shenanigans. So in many ways, the game gets even more dangerous. And in fact, you know, the faster and higher it goes up in a short space of time, you could equally see the same thing in the opposite. And of course, all you need is that kind of volatility to really shake out some of the normal retail investors. That's probably what they're counting on because, you know, people will be going, oh my god, it's about to reach the all time high, which is when it's gone to parabolic bond. You know, now is the time to buy them before you know it, you know, they've taken the floor out of the market. And so, you know, you can still have the power to do those games and even though it seems to be going parabolic because GBTC has slowed down it's selling. You know, they've still got a large number of Bitcoins that they want to sell. I believe in one of the articles apparently the US government still still owns 215,000 Bitcoins, you know, still got, you know, the mountain gots Bitcoins that people talk of selling, you know, so there are still some hidden large players that could suddenly, you know, dump Bitcoins on the market. So I wouldn't say we're out as a woods completely. I don't feel that way. And also if you look at the wider financial system, I mean, a lot of people are worried about the fact that, you know, BlackRock could take a bit, which I don't think is a serious consideration really, but I think what the main risk I've always highlighted has been about these ETFs is that they have the potential to break the entire financial system. The way in which our existing financial system is structured is very precarious. And one of the reasons it's been allowed to be built this way is because we didn't have a sound money system. And ultimately that's what Bitcoin is designed to introduce. And the traditional financial system not only is it precarious, but it's also highly leveraged. And we've, and we've all seen what happens to over leveraged Bitcoiners in the short term, you know, imagine that happening to the wider financial system. So, you know, we, we live in very tricky and precarious times. It's going to be really tricky to play this scenario, well going forward, I think. I would agree it is a disaster for the current financial system having this alternative of Bitcoin sound money. It reminds me of a similar situation when the USSR and Cuba were the only communist states in the world. So essentially all the other capitalist states were working against them, whether they were just trying to produce better and cheaper goods, which worked against them, or if they were actively working against them. The people inside the USSR saw the blue jeans and the cassette players and the televisions and the wealth of the capitalist nations and they wanted in. So it's changed a lot of things with Bitcoin's brand name as well, where Bitcoin is now like co-crepepsy. They have it everywhere. You can invest in Bitcoin at Merrill Lynch at Wells Fargo, at Black Rock, at the stock market. They have it everywhere. It's just really easy to get. And in the same way we used to have operators like FTX and Mt. Gox, who were not prepared for this kind of things now. And we had startup operators like Coinbase who claimed to be prepared as we're going to talk about in a later issue. Now we have the suits. Now we have the serious business people with the cascading servers and the people who figured out they could send a shorter coil of wire to get closer to the trading center. All those people now are essentially working for Bitcoin. So let's go on to the exit question predicting against the ball of truth, the predictor of all Bitcoin knowledge, the only prediction method that didn't tell you it was going to 12,000, didn't tell you it was going to 1200, didn't tell you it was going to 300 as we play our, it has to retrace to X number game that never works when we try to time the market. Right, it never works. We always think we're smarter than the market. The market's always smarter than us. Josh, a goal of the price be higher or lower this time next week. I think we'll see higher. Yeah. Victoria Jones higher or lower. No sign of it slowing down. So yeah, Max Green still has to be reached. Overwhelming positivity will it affect the ball? Will the price of Bitcoin be higher this time next week? Without a doubt without a doubt rare positivity from the panel and the ball unbelievable. Let's see we got world crypto network dot com. We've got over 3,561 videos that you can check out for free at world crypto network dot com. Issue 3 coin base fixing outages after users report seeing zero dollar account balances during the Bitcoin rally. I've had enough of this every rally we have to talk about coin base crashing and we have to pretend like it's an acceptable thing for a server system of this size to crash because of Bitcoin demand not coin base in competence. The last time I thought would be the last time when they entered the stock market and they got all that money and you said yeah they can get some cascading servers they can get some failover they can solve this problem even if there's great demand. And they do it again the crash again and to add insult injury they show people this zero dollar balance so now people are freaking out that they've lost their money just as their money is going up and they're there checking for a positive thing. Josh a goal of what do you think about coin base having yet another outage when Bitcoin was under great demand. Yeah it obviously it's a terrible thing like there's certain aspects of Bitcoin and crypto in general that is always anxiety producing you know when you're new to it every transaction is anxiety you you shift some money and you're like is it gone did it work. I just want to send a test transaction first I just want to you know and you get those butterflies in the stomach until you look on like a block exploring oh no it is there and that slowly goes away into you feel better but to be fair to be fair on coin base it's not a normal website server that you're running you're dealing with a lot of value you're dealing with a honey pot you're dealing with all these ETFs you're not going to be fair on coin base. You're dealing with a honey pot you're dealing with all these ETFs you're basically now dealing with probably them one of the places on earth that has the most money concentrated in one place. So you just can't let a heap of server admins just randomly like there's a whole you know you need there's a lot of security protocol involved to deal with this stuff because you can say okay but you just take the hot wall enough offline yeah you can say that okay that's great but these APIs or you make them multi-seq these APIs that show that they and you hit send they automate stuff. So if someone gets in inject a bit of code in the server like there's so much that can go absolutely haywire and wrong so it's you know think about the anxiety that those guys are feeling all the time and so there is it is hard it's hard what coin base is doing it's very very anxiety producing and hard and I think it's a massive attack vector on the system that the fact that the SEC is so incompetent that they would allow ETFs to be able to do it. ETFs to all use coin base all of them every single one of them users coin bases are custodian but that's just demented that's such demented logic and and waiting for Bitcoin to die because it's like what they're doing is almost impossible almost impossible but they do it so I look up to them and and and applaud how they haven't really had a major attack. Yeah they've been dex they've reported stuff to IRS's and you know the whole the whole book they've they've done a whole lot of stuff that sort of a bit. But in a lot of ways Josh didn't coin base kind of cause this and bring it on themselves when they bought their competitor Zappo that was providing this kind of vaulting facility where Zappo could have been a sell a custody thing coin base could have been a different thing coin base like Apple just goes into everybody's market. And makes the same app and then we're left with no competition no way to spread it out when if they maybe weren't so greedy for holding the whole market they could have said maybe having Zappo is good having these other competitors like having Binance as a competitor rather than this kind of you know Julius Caesar stabbed in the back eight times you know wandering around waiting to die like maybe that would be better for the market if we could hold these people up like the FTX situation as well if FTX it survived FTX buy it. Now we have four places we could have custodyed obviously FTX would have been a disaster more places better less places better what do you think Josh? Well if one goes down and you've split it across four that's better than you've got one and that goes down right obviously it's still absolutely atrocious and it would cause a huge crater in that graph of ours that we're loving at the moment but yeah it's just it is horrible hold your keys ETFs make that impossible ETFs is what's sucking up all of the Bitcoin. Yeah it's it's scary and and we have other you know you mentioned before Victoria this is a little bit off topic but you mentioned the existential stuff like now Cox coins all these different coins the government's got a bunch of coins. There is one more that existential threat that I want to talk about a little bit just just drop because I do think it's it's essential existential enough that that you know crack in and all these people are putting money behind it and that is taking Craig right to court. Now if the court states that he is Satoshi which could happen there is a non zero chance and you know what would happen in that case what would happen if the gavel goes down and he is said to be Satoshi. Like even though that's that's unimaginable for most of us if that does happen. We could see a huge drop in Bitcoin as well because maybe then Craig goes on a rampage through in people for whatever using his technology and B S V sky rockets and I don't know like what would happen so there's a lot of different. The story is not written yet. More crises Josh I thought we were done when we had the Mt. Gox collapse the Silk Road collapse all the other systems that we could see coming that were weak but yes more drama in Bitcoin. I don't know if that when that ball said no doubt we're going out the ball said no doubt so I think we're still pretty good. Yeah the Craig right child I'm not that worried it seems like he's losing really badly I think he's likely to be cleared not Satoshi but I think his action is the same either way he's got this patent play he's got all these patents he's going to sue anyone that uses his patent I see him doing that if he's declared Satoshi or if he's not declared Satoshi. So I'll have to see about that either way I do think that coin base could have had a more graceful fail than zero it could have shown your previous and out the balance could have had a fail system where it said hey here's your balance 30 minutes ago we're under extreme server load you know but we want you to know everything's fine rather than having a fail state where it comes back is zero even maybe a dashed line would have been better zero is just so terrifying for these people especially like Josh says early bit corners don't believe in this. Don't believe in this at all they've bought magic beans and when they go to the store and it says their magic beans are gone they're going to freak out and again we told you the banks would buy we told you is your chance to buy Bitcoin before the banks and that it would be gone and now it's gone and now you're around here saying you'd buy Bitcoin if only it would go down only would go down again. Victoria Jones way to think about coin base once again having outages showing us what a young and immature industry we really are. Yeah it's interesting isn't it I mean I was around for the parabolic rise in 2017 and ultimately what started to slow down slow that down was a theory and started breaking and I'm the exchanges started breaking I mean we've kind of seen this before and often. That can be the sign of a talk because you know in one of the previous articles where it said how many yes we're getting involved one of the few that isn't getting involved still is Vanguard because they. Define it as a speculative asset and in many ways is you know it's still early technology we've still got a lot of issues to iron out before it becomes what everyone hopes it will and the trouble is. A lot of people are buying it based on its potential and because there are so many people who don't fully understand what it is they're buying the moment something like that happens it becomes catastrophic and causes them just sell now presumably with the ETFs in the banks getting involved that they're going to be people who've done more their due diligence but as we've seen you know they're not immune to stupidity either so. And this is the first time they've done this you know I think it's the first time you go through this cycle that hits you the hardest and then next time you know. But yeah I still think all of that has yet to play out it is still early days. All right let's move on to the exit question I want you to give a letter grade to coin base a being excellent f being fail how would you rate coin base right now Josh given that they did crash again. I did see C plus C plus C plus needs improvement Victoria Jones how would you grade coin base on an a to F scale. I'd give them me I mean at this stage of the game it's criminal really isn't it especially with the banks getting involved I mean it's just a recipe for disaster you can just see it coming so yeah. It is a whole population you could call them in a way it does it. It's a story that cuts off the momentum of the market we were flowing forward suddenly we're not last time I think the FTX disaster helped kill a lot of that good feeling. Yeah and and you know it could be like we can't get enough ETF coins we can't hold the market drop the price okay zero. Yeah push the crash website button push the crash website button to save us we can't get enough new Bitcoin we can't satisfy the customers we're just going to run out so we push the crash website button yeah well they did it with game stop with the buy button yeah they did it down yeah. But we need to get back to that momentum and that good feeling and so we're going to go to issue for a video daily double with Jim Kramer live on CNBC taking away Mr. Kramer. There's under performance okay. It's the press it I don't want to just be quick never done. I'm not a man kind do you have a Bitcoin phone watching come here I need you and the way that. Well coming up you know I don't care is apparently there's under for what has Bitcoin ever done for mankind have you ever used a Bitcoin phone a reference to Alexander Graham Bell that he doesn't think we're going to get Watson come here I need you also the name of IBM supercomputer Watson and Sherlock Holmes is assistant but yes Jim Kramer is back and he hates Bitcoin he attacks it what has Bitcoin ever done for mankind Victoria Jones help him out what has Bitcoin done for mankind. Oh that clip honestly you know as much as he seems like an idiot does kind of break your heart it looks pretty devastated doesn't it is just like how can I be so wrong. And it's just like I could have told him my book I wrote it in 2020 truth to K how Bitcoin fixes this it's like he just doesn't get it. So I should send him a copy go there there you can read this it's not too late still early we said so on the world crypto network a few weeks ago. It is great he's live on TV they switch the chart behind him to the Bitcoin chart because clearly that's what he's going to talk about and then he compares it to Apple and he's like yeah they're not making a phone all they're doing is allowing people to send value or wealth across the Internet a network without a third party without using one third party like Bank of America that could say no you don't get to send any more money today or you sent too much money or you can't send money to that political cause because we disagree with it. It's a network that does that it obviously has value it obviously has more value than an apple phone like and I like Apple stock it's done great for me. I like Apple products but at the same time I'm holding Bitcoin because Bitcoin is that network that allows people to send around value or money across the Internet and it's such a great tool we've talked before how it's like a Swiss Army knife. We could be talking value like you're in exchange and you need to borrow $10 million overnight from the overnight window you'd have to pay a percentage on that if you used a bank but if you use Bitcoin you could send it for pennies or on the other side if you want to do a micro payment you could use the lightning network and you could send fractions of a penny with a Satoshi using the same value network that this time unlike the Internet which we didn't get to invest in even though we used it a lot or MP3. Again not getting to invest in no one could buy you know shop and slider whatever the company German name was that made MP3. But this time you got a chance to invest we talked about it for 10 years begging you to invest begging our friends to invest our family to invest it was your chance to get in before the banks on a new investment as if it were like Facebook stock before the IPO before the public market the private market the friends and family round. That's what we try to get you in on but Josh should go obviously Jim Kramer missed it he sold his Bitcoin he lost money he feels sad he's lashing out publicly on national international television what do you think Josh. I mean you know he is a character he's meant to be a character he's a he's not only a character he's a character to it you know he's even got the button the big but buttons you know he's meant to be a clown a gesture of sorts in this market and the thing is that he he like many told people to sell at the bottom and all didn't talk about it at all. And at the top they're just depressed because it's you know doing what is unconscionable to them and when they says what is Bitcoin ever done yeah like you said it spot on it allows you to hold stateless value and hold it in your possession without anybody being able to take it away and this is always been the selling point and the fact that there's only ever going to be 20 years ago. I think ever going to be 21 million of them like how daft you have to be hey by the way you know we've got these MP3s and stuff but by the way now we've got a red digital asset when I send it to you you know that I don't have it anymore it's the the first technology where I can send you something you absolutely know that I don't have it anymore. That's not worth anything that's not worth that's just for drug dealers and you know freaks but. I don't understand how this simple concept can't get through the schools of these absolute morons for so long and then you get this hype train and that's when they start crying and that's when they start talking about it when it's low do your viewers of favor and actually talk about it when it's low instead of talking about. Only when it's high but yeah I mean it's funny because he's that caricature and seeing him meltdown on TV is just more of that fun stuff you know we can all laugh at him but actually you know there's the whole meme of as soon as you know he's like a negative correlation so if Jim Crana Crana was all about the Bitcoin if he was like bye this is amazing you know I think it will probably be time to sell so yeah he's the old. Yeah he's the ultimate shushan guy at the front of Wall Street if he mentions it you sell. Well and we were so right on this and so many other things for so long Josh when the the modems came out and you could connect to the internet from home and we were the computer geek people were all really impressed by it when we got all the new video game technology we got the MP3's the MP4's we took down the music industry we took down the movie industry we took down the streaming everyone streams their television. NFL all these things offers streaming that was all computer geeks had that first why wouldn't we be right about transforming the money why wouldn't be right about transforming the financial economy things like defi or all these crazy altcoins or all these different attempts at thing not to say that they're all winners but the general idea that computer geeks who have transformed everything else in our society we eliminated newspapers complete joke now used to be an important source of news complete joke why wouldn't that happen to money and it's only because they are part of the system and their hubris and they can't see it and and they're seeing it punch through and I will play one more time Jim Kramer's classic from CNBC here it is. There's underperformance okay. It's depressing I don't want to quit ever done. What is Bitcoin ever done for mankind do you have a Bitcoin phone watching come here I need you and the way that. Well coming up you know I don't care is apparently there's under. He says about health care in the end but yes what has Bitcoin ever done for mankind he separates it out like the WWF villain but yes what a. It's like this is a Raymond's ever done for us it's just like well they were aqueducts and the roads all the roads everywhere I had this fantastic map on Twitter this week just showing an outline of the roads and it was like unbelievable how far the Roman roads could take you and yes Bitcoin is like the Roman roads and the aqueduct sending the water and the commerce around the Internet it's that extra money layer that we always needed never had that was in the original HTML spec it was in the original spec that we would be able to send it to the original and digital money of some kind but we never got there but we're running out of time so we're going to move on to predictions or story of the week Victoria are you ready with a prediction or a story of the week. Yes I do actually so I'm a local notting a meetup has decided to take the ball by the horns and set up its own event called the Bitcoin Fest which we're currently in the process of organizing. And as part of that I'm going to be one of the people one of the six speakers speaking there and not only that but I'm going to be live streaming the event from my YouTube YouTube channel Satoshi's page.com now I started off earlier in the week and did my first live stream with one of the main organizers and we had 130 subscribers and as of today I've been sending around this video to everyone trying to get more subscribers because we need at least a thousand so that we can live stream it without limits on the 6th of April. And so you know in the past two days I've got an extra 50 subscribers so I thought I mentioned it here if anyone watching would do me the honor of going over to my YouTube channel and giving me a subscriber trying to get a thousand subscribers before the 6th of April so that would be really great thank you. Well that sounds great for nodding him and it's a great idea to try to get those subscribers hopefully people will go over and subscribe is it just Satoshi's page just Google that. Yeah so it's YouTube channels to taste the page and I think Thomas you've also got the link to my Twitter down there so I'm tweeting we're tweeting out quite regularly what's happening so there's a few of us trying to generate some interest so the 500 tickets 100 VIP tickets. We haven't sorted out the car parking yet but I think it's going to be a great event the energy you know all the people who are coming together and volunteering I mean there's a guy at the meet up the other day who said. And the one of the organizers was thinking about magician and someone popped up went oh I know magician that could be my contribution I'll pay for the magician I was like what is amazing. So yeah the energy around it is just amazing I'm really impressed so I think it's going to be great. That sounds great for nodding him too hopefully they've reopened the Robin Hood Museum it was under construction when I was there I'm sure it's all better now. Josh a gola prediction or a story of the week go ahead. Story of the week is yeah just I've been working like crazy we launched the U of accounts which is great and yeah just stuff rolling out you know it was amazing to watch 250 white hat hackers. So I was trying to break out contracts over the last month and half and we got that out and now the U of accounts alive and yeah we're going to keep on going keep on making it so we don't need to trust these centralized authorities to borrow anymore. And yeah even though it is on a theorem so sometimes the big big coin is we're going to do it but we can't build this anywhere else doesn't work on the coins so. We yeah so we put it there and it's really freaking cool and I'm loving it so yeah check us out subscribe like and like this video to by the way let's. Get this up. The story of the week is obviously that I shaved my beard but that it will grow back there you go everything works out in the end surprise. Thanks to everybody for joining me sure to give us a thumbs up down below until next time. Bye bye. Wrong button wrong button.