The Big Corn Group The American Original For over the last 10 years, the sharpest citotas, the best, the hardest crypto currency talk. We'd like to welcome our panelists, Dan Eave, the crypto raptor. Hey, hey, wishing you the coolest of beans. Ben Arck from Ellen Bitts. Hello. And I'm Thomas Hunt from the World Crypto Network, moving on to issue one. Issue one, the price of Bitcoin. The price of Bitcoin is down 3.38% in the last 24 hours, with a last of 114,140, a high of 118,040, and a low of 113,770. That's down 3,920 dollars in the last 24 hours. This is of course because the Dow Jones industrial average has fall more than 700 points. As investors digest hiring slowdown and new US tariffs. That's right, a new jobs report for July says that there were less jobs than expected, and a new tariff from President Trump is going to raise tariffs for the United States on Canada by 35%. Canada being the number one trading partner of the United States, this of course, has caused the price of Bitcoin to tumble to a near 3 week low, near 114,000, Dan Eave, what do you think about the price of Bitcoin, the Dow Jones being down, and it's all thanks to those pesky tariffs. Well, again, we're sort of like, it's crazy that we're saying like, it's crashed down to $14,000. It just seems so surreal. The tariffs are obviously causing a bit of repercussions around the world. Obviously, EU have sealed theirs and UK got theirs and we're really happy with that. But it does seem to be having quite an effect on the markets, right, until these tariffs are finalized, then we're going to have a lot of uncertainty, even with the good news. It seems like they tried to counter that, right, with the crypto report coming out on the 30th of July. But it's still $114,000. That's pretty not bad. Still got to feel pretty bad for Ethereum, although it's pumped a bit, but it's still not like, no, no, no, it's all time high. So it's well off to the 6% from all time high. So that may have a little bit to go, but yeah, I think $114,000, it's nothing to score that, right? I'm quite happy with that. I mean, it sounds nice. Ethereum was all the way to about 3850. It's going to break that 4K barrier when we had the bad news about the tariffs. Previously, traders have ignored Trump on the tariffs saying that Taco Trump always check its out, but it doesn't seem so this time seems like he's going to go through the tariffs. Regardless of the damage that it will do to the international economy, of course, tariffs just raise prices. They pass that on to consumers. So you pay more for products. You probably buy less products. It probably slows down the economy. It's very regressive and a 1920s type era policies brought back to the future today. And is that what do you think about? Oh, just quick question. So we have like import taxes in the UK. Is it the tariff is the equivalent of an import tax? And tariff is the same. It's the same word as import tax. Import tax is a lot clearer because you understand what it is. Tariff is another word of art that the stock market people exist just to confuse you. It's an import tax. Yeah, when you bring a product into the country, you pay safer Canada, 35% more. So if you're going to buy something for a dollar, it's now a dollar 35. As you can see, you're a consumer. You're probably either going to buy a different product or no product at all. So it just depresses spending. And it's because of a misunderstanding that the president has about the world economy. If we buy a lot of things from China, that creates a trade imbalance, right? But it's not like China's ripping us off. They have really good products at really low prices that we keep buying. I have a trade imbalance with the grocery store. They've never bought anything from me. But I still buy their products and have a great relationship because that's where you buy your food. The same thing. China's where we buy our products. It's not a rip off. But he's very confused about this. No one can speak to him anymore. He's raising tariffs across the board. The special matter of Canada, which is the number one trading partner of the United States, number two is Mexico. And yeah, 35% more for Canadian goods is just going to wreck the economy more. Less jobs, less everything. Ben Arck, what do you think about the price of Bitcoin? I mean, to be honest, he's doing his mandate in the, if he, you know, trashes the US economy enough, then all those blue collar jobs will have since the US because they'll have a very cheap labour because you would have like destroyed the US economy. So, you know, it's getting there. It's probably just distraction from the obvious news cycle, which Trump doesn't want people to pay attention to. He's like, how can I create some froth in the news to distract people away from the Epstein stuff, which is kind of inevitable. And then on volatility in the markets by announcing something like the tariffs, yeah, it makes an unstable market, it makes it hard for merchants and producers of goods. But it's very good for Wall Street because people like a frothy market because they can trade it and they can make money. So it's not necessarily annoying everyone because those traders on Wall Street are making a good buck. And I'm sure Trump isn't going to accuse him, but he's not the sort of person to shy away from a bit of insider trading, I don't imagine. But as we've seen, here's in it for himself and to line his own pockets more than anyone else. So, yeah, so I think there's a mixture of things. It's like him and his entourage can make a quick buck trading the market. It gets a bunch of Wall Street pros on his side because they can make some money and it distracts people away from the Epstein stuff, which is what he wants to do. Is it cool when Bitcoin returns to being a safe haven as opposed to tracking these traditional markets? It was a shame when he kind of broke away and started tracking traditional markets. It's a bit boring and you know, you want Bitcoin to be the safe haven and it will return there one day, I'm sure. And they tried more there, but aren't they passing through that poll out there, what they called the Pelosi Act, but then Trump's, Trump's immune from it for his term. Isn't that right? Like Trump and Vance, so there'll be immune for many. The last I had heard is that the Pelosi Act that was renamed to like the true fact or some kind of thing, representative Pelosi, representative Pelosi voted for it in favor of it. And so, I think that's the end of the line where Republicans on the committee voted against it. Their fear seems to be that the current version did, I don't know if there's been a change, did apply to the president and the vice president as well as all of Congress to stop the insider trading. So yeah, it would be really straightforward. I support that act. I think that's pretty obvious thing that should be passed. And when it comes to insider trading, I mean, it's like Trump, you know, can pass on information to his friends and family. Yeah. Okay. I mean, that's all technically illegal already. No, I know. I mean, you can, what's going on here is that Congress can actually legally trade on the information they have. There's, there could be a thing where you just say, okay, you're in Congress, you can't do any trades now or it has to be in a blind trust or a mutual fund or something like that. But even then, they could unravel and figure out that they have Apple and make the regulatory environment good for Apple. But this is really about Congress and it's something that's been legal and open. That's why it's fun to make fun of representative Pelosi. But in reality, all the representatives are insider trading except like a very small handful, maybe AOC, Bernie, five or six others, perhaps Republicans could be anybody. But yeah, but even that you're right, the family, like when, when I was working for a finance company, a head office, the like it was I'm pretty sure our contracts said friends and family were excluded from it. So it included in the stock trading, you couldn't pass any information on, you know, you couldn't like have a partner and say, right, buy stock before, before, you know, before it opens because we're announcing results or whatever. So if unless it excludes, it sort of includes the partners and family, like passing on any information, then it's kind of no anyway because you could just tell a mate to put a long on you like a leverage, long on. I'm sure it does. I mean, it's not, they aren't allowed to leak that information anyway. Really, it's supposed to be private information. I'm sure they market as such. Remember going back to the McDonald's, a monopoly scandal that was actually given out to a friend or a family when the company that was making all the little tickets stole all of the million dollar and other high priced tickets. And it's it's shocking if you watch the documentary, the guy's house and he's not surprised at all. He's like, oh, I won a million dollars. He doesn't have a shock look. He has a, of course, I won because we rigged it look and yeah, that was exactly friends and family, which it's always unravels. They always, they always figure this stuff out. Yeah. With that, I've put it meme coins. There you go. Because obviously there was like the Trump meme coin, the Milani meme coin. Do you know if that applies to meme coins as well? And I don't think it applies to meme coins at all. I think we're closing the previous barn door. Oh, wow. The cows are going out the other side because anyone can bribe him through the meme coin or like you say, even through his family's meme coins, if you want to be sneaky about it. Thanks. And as far as the Epstein story that we're not supposed to talk about, it's getting pretty bad. The latest comments is that a Scottish reporter shouted out as he left the room. What did Epstein steal those girls for? The president has claimed that the reason he ended his relationship with Epstein many said that it was over a real estate deal, which seemed kind of reasonable. Others would hope that it would be over the accusations against Epstein that one would end your friendship. But the president has said twice now two days in a row that it was because Epstein quote, stole workers from him, which you would be high level workers stole the help. Now they're saying that the workers said the help as if he's like a sort of Victorian aristocrat. Well, and they stole the help. The girls were underage girls working in the spa or the health club type thing at Mar-a-Lago. And one of them includes this Virginia. I don't know her last name. I can't say it right. Go for it. And Zifri. And the one who got seriously committed suicide. The one who had fed her at least in a Janet, so she went nuts on social media and she killed herself that one. I think she's a cute prince Andrew of bad things as well. And it's shocking that the president seemed to know her name and acknowledge that she was quote, she was quote, one of the ones that were stolen. And yeah, it's going really bad on that front. And I think they had another article they said that usually the president, this president has had the ability to control the narrative. And he feels he has lost that ability with this Epstein thing which every day they ask questions about. So we'll have to see. I didn't see like a like a breaking update. It said like the one minute's been found. Yeah, the FBI's found the one minute that's missing and there's an orange, an orange presence on there. And I thought it was a piss take like it was like Trump, like it was like Trump, the orange man, but it was actually like an orange jumpsuit. They think it was like an extra sort of layer to it. There's been some incredible incredible. Incredible. The FBI tape has been very incredible. They said first they said that it was the intact tape. And they said that the minute was missing from all of their tapes that this was a standard thing. They always miss a minute. And now they've said that they found the tape, which further's the question, why would the original tape not just be released and make it so simple? It's a very strange thing with that tape. I don't know what's going on there. But it keeps getting worse. It's definitely kind of a popcorn moment. But the worry is that between now and when Congress, I mean, they're off on less some holidays aren't they? But between now when they come back, actually, Congress has specifically taken a one month break that they normally don't take. No, no, no, they don't have any of these tapes. But there's been a new development where Senator Chuck Schumer has finally realized someone finally read it to him that if you get five, I leave five senators together and you demand information from a government department, they have to give it to you because you were five senators. And he has done this. So there's apparently the Epstein tapes coming to them. There's also this Congressional committee, which had a group of Republicans that also wanted the tape and they voted to get it there. But Speaker Ron Johnson has suspended Congress for a month to see if they can get it to blow over. It's really like wag the dog, the movie over here. They're doing anything they can. Let's think it through now. Okay. So what's going to happen to Bitcoin when people realize or when people find out that the Trump is just a massive, horrible sleaze and that he was as bad as Epstein. That is our island. No one knew about what's going to happen to the pro. I mean, what's going to happen to the US, but what's going to happen to Bitcoin as well? I'm afraid that the next turn is that people are going to say that that's not so bad. There's already been kind of a goal lowering in the Twitter conversation where previously people would say 18 is the line of consent. Now people are saying that 15 is just fine and that their grandparents got married at 15. And I don't know if they can move that down to 12 or wherever they're going to need to move it for safety's sake. But I think the next, the next line they say is that it's just fine. And yeah, as far as the market, I think there could be a reaction if we find out horrible things about the president and so forth, etc. But unless, unless you pull something crazy to try and distract and like, you know, he tries to get a pump the markets, get Wall Street back on his side, does some crazy ass things like pump the markets, pump the crypto markets and to try and detract from that. Well, I think Ben is saying like, what if the, you know, president is labeled a, I don't even want to say, you know, would that ruin crypto because crypto, they'd become the thing that is loved by the person who's, I don't want to say. Yeah. I mean, I think that's possible in the short term, but it's also if they think that, if they think he was going to make prices rise, if they think he was going to make stocks or businesses go well, and then he is likely to be removed as it seems quite possible, that would be market, go down after that. But maybe we go back up. I don't know that Bitcoin is, I mean, I don't think it was used. So it would be worse if Bitcoin was somehow involved in the story and that the girls were paid or took the money or the app was paid in Bitcoin somehow. I don't think we're tied in that way. But yeah, it would be bad. Well, do you think Ben answer your own question? Would it wreck Bitcoin if it's linked to Trump? We're just saying doing bad things because YouTube probably doesn't like those other words. I don't know. I think Bitcoin is quite nice that Bitcoin in the new cycle these days, it's not, it's not the reason that the bad things happen. It's not the reason that Dart market exists or exist or people hack stuff. It's just the thing people use. So yeah, I think we'll be all right. I think we'll be all right. But obviously it is sad that it's a, it's a rare case where it's not Bitcoin's fault. We do not enable this evil with our agnostic payment system that allows anyone to use it, which of course leads to good and bad things. This seems entirely a dollar-based, whatever happened and so forth. But let's move on to the exit question. The magic keep ball predicts against the online eight ball. Dan, even with the price of Bitcoin, be higher. This time next week, last week, I recall a lot of bullishness about these Trump tariffs have wrecked our market. So where do you go from here, Dan? Many, many corrections and then higher. Maybe, maybe in all time high. Higher. Ben, Ark, you think we'll forget the tariffs like we do every time? I think you just, you just, the inevitable bullroom, which is about to happen, whatever you put in the market, which prevents it from happening, is just tightening the spring. So when it does happen, it will just fire off quicker. So just give it more momentum. So yeah, higher. Again, the core theory on this bull market previously, we were about the halving, about the supply squeeze, about the actual number of Bitcoin. But according to charts by TechDev on Twitter, it seems a lot more like a standard four-year business liquidity cycle, where money flows in and out of businesses. And we were at the point where money flows into businesses, which means money flows into Bitcoin and other things. So I'll continue to be bullish as per always, but what about the ball? Will the price of Bitcoin be higher this time next week? Saking the ball can cause bubbles. Without a doubt, without a doubt, the magic eight ball continues. Hositivity on the Bitcoin price. We're going to issue two, perhaps better timed before the markets turn around. Why Ethereum is suddenly beating Bitcoin? Ethereum, the number two cryptocurrency used for smart contracts and curial cards, was up 54% in the last month, while Bitcoin was only up 10%. Why is the price of Ethereum suddenly going up? Several companies are abandoning their Bitcoin treasuries to build Ethereum treasuries with other companies and ETFs also going into the Ethereum market saying, why not? Number two, Ben Arck, what do you think about Ethereum suddenly beating Bitcoin? At least for the past month. I don't know too much about it. I'm busy enough with the Bitcoin stuff, but it's the usual post-Bitcoin pump, chase the shit coins, they go up, whatever you want to call Ethereum. And then the price goes up and then it just has less liquidity. There's less, there's less volume there, so it can go up higher. But it's not something I've got that much time for, really, Ethereum. People build interesting things on it, whatever. But it's the usual cycle we have in Bitcoin, where Bitcoin price goes up and then the other things follow. But if you look at the price of Ethereum compared to Bitcoin, it is pretty correlated, to be honest. There's just a slight delay in what happens. And I'm sure some people are trading on that and making a buck. And it makes sense, if you're only one of these strategy type companies and you're building a Bitcoin treasury, and then you know that there's going to be an Ethereum pump off the back of it to buy into it by making some Ethereum treasury. But I don't know. It's just a same old cycle stuff, I guess. Some people making some money on it. It does seem then like the same old cycle where Bitcoin price goes up, people take their profits, maybe go into the altcoins, which includes Ethereum. And I think we might even have a third leg of that where people take their profits from the altcoins, maybe put them into NFTs. Don't know where that all ends up, but I think that the reason that Ethereum has gone up so much and the reason the market is looking relatively good with the ETFs and other people buying lots of Ethereum is because of you, Bitcoiners, too many memes celebrating the death of Ethereum. Too many memes with the Ethereum investors crawling through the desert looking for the sand. Every time I saw them, I said, this is going to come back to bite you guys. This is not how markets work. Things don't just go to zero that are the number two cryptocurrency. And if they did, we'd have a huge problem in cryptocurrency generally, which of course spread up to Bitcoin regardless of how much we like Bitcoin. I think it was the memes. I blamed the memes. Dan, Eve, what do you think about the negative memes about Ethereum and how that might have caused the price to go up just to spite the people that made the memes? You're right. It's kind of the strison defect, right? Because if people are reading about Bitcoin and they see that it's all time high and it was difficult enough when it was like $100 and people are like, oh, I'm not buying. You're telling people about $100 and they're like, I'm not buying because $100 is all time high. And then $1000. It's all time high at $1000. And then when it hit $10,000, it's like, I'm not buying it. It's $10,000. Then 50 and then 68 and then whatever. It's people don't want to buy it because it's really high. So the strison effect is that effect where you talk about something because you kind of want to dim it and take the piss out of it or completely turn it into the or quash the story altogether. And what happens is you're talking about it ends up getting people interested. They're like, oh, so this bit, this Ethereum they're making fun of, but it hasn't reached an all time high yet and Bitcoin has. So maybe it's a bit of a strison effect happening. But I like the way, again, these stories refer to Bitcoin. They always say like the top cryptocurrency by market cap, comma, Bitcoin or the biggest cryptocurrency, comma, Bitcoin or the original cryptocurrency Bitcoin. And they don't kind of call it again, I think I said last week, like hard, the hardest money or something cooler. They need to give it like a cooler name like this. Money harder than diamond or money harder than a neutron star or something like that. Something crazy like that. I can't really talk because I called it original in one of my apps. I said, I said took a break holding shit coins down to zero delusions of an investor hero. This is after the ICO shit in 2017 scamming ICO founders, fiddle like Nero, so back to Bitcoin in the original hero. But it is, you know, it is the hardest money is it's the the conduit into realizing that the financial systems that we're currently having, the debt-based system is not the right system. It's not the way to be working and you know, one thing I'll be certainly teaching my kids is like credit cards are the worst thing ever. Just like just just out of credit cards, stay out of a debt-based system and and and feed money all together and just try and stick to Bitcoin. And if you'd have done that, I mean, I think there was even a report that said if you'd have bought the all time highs of Bitcoin, $10,000, every all time high of Bitcoin or you know, even the actual what you call it, the cycles, the post-harvining cycle all time high, you'd still be up an insane amount of money. So just stick to Bitcoin, it's far less risky. And look, we were going to break it by now, we'd have broken it and it would have been hacked. And quantum, quantum, as we discussed last week, quantum hacking is, that's a long time away, a long time away. Unless we, something crazy happens and AI becomes exponentially intelligent over the next few few years, then quantum Bitcoin breaking isn't going to happen for a while. So just stick to Bitcoin if you're worried about losing any money at all. Maybe, maybe, maybe have a dab of one shit coins. If you're just feeling drunk and you come home from the pub and you're like, oh, I'm going to buy like titty coin or not t-coin. I'm not endorsing that, but you know, some crazy coin. But just stick to Bitcoin, stick to Bitcoin and pocket money if you're ever going to go into these other stuff, use pocket money. Because otherwise you're going to lose it. I'm talking from experience and I didn't buy titty coin. It would be great, Dan, if we could choose the epithet for Bitcoin, if it could be like Palace Athena with her knowledge or fleet footed Hermes, who delivers messages so quickly. Like you say, it's always based on market cap, just this big round number. And you know the beauty of that. If Bitcoin ever loses its market cap victory to Ethereum or to report to some other crazy coin that we don't know about yet, they're going to call that the largest cryptocurrency. And it won't matter that Bitcoin is the original or the longest running or whatever you want to say. And with all due respect, the way that the articles written is like, it's just something like Ethereum beating Bitcoin. Now I'm just thinking when that came to my head, I was thinking of Vitalik in his purple kitty sort of top, like trying to beat a shadow, a shadow Satoshi that doesn't exist. He's like omnipotent, on Nissian, he's like freaking everywhere. He's like, there's no way it's going to lose against some shadow thing. So yeah. There's also no way that Vitalik probably doesn't have Bitcoin still and doesn't sell profit when Bitcoin goes up all of this Ethereum, Max, and his Bitcoin Max. He never seems to say what he has or has not, or that he cares about any of this in general. But I do agree, Dan, also like he said, with this tri-sign effect, so many people wanting it to go away, so many people trying to bury it. They're just bringing more attention to it. Look at Trump perhaps wrecking the whole economy, starting a trade war with our number one trade partner, Canada. Yet all that does is force a pretty non-political show like the Bitcoin group to have to explain the Epstein issue in some little detail because it's necessary to understand why the economy is being wrecked, which is why the price of Bitcoin is down, which relates to the show. So it is a very unintended consequence. And while I don't think the memes are the only thing, it's also important to look at, like we said, there are Ethereum ETFs now. That's going to cause it to go out there, companies that are doing what these micro-strategy is doing, but they're doing it for Ethereum. Agreed, disagree with them, depending on when they buy their big stack, or if they distribute their money through the years. It's very possible they make money. There's very possible that there's going to be XRP or Dogecoin or whatever coin ETFs in the future, and that we're going to say the same thing about whatever coin. And it doesn't matter how many memes that you put out about whatever coin going down if they get an ETF, so on and so forth. Let's move on to the next issue. Check out WorldCryptoNetwork.com. We've got 4,468 videos. You could watch this channel for three months, 22 days, and 12 hours without taking a break. But you'd probably lose your mind. Moving on to issue three, meta-planet, files $3.69 billion stock plan to fund $210,000 Bitcoin target by 2027. The Japanese Bitcoin Investment firm, MetaPlanet, has set out what it calls in the article. One of the most ambitious financing plans in the digital asset sector, filing a shelf registration on August 1. August 1st, to raise up to $555 billion yen, which is $3.6 billion. They're going to use the proceeds from this two-year issuance of perpetual preferred stock to fund an acquisition of $210,000 Bitcoin by 2027. Dan and Eve, what do you think about these incredible companies we keep talking about here? The goose that laid the golden eggs. Why make anything? Why do anything or own anything or hold anything? If you can just hold Bitcoin and watch it go up like micro strategy and now Japanese mega firm, MetaPlanet. I can see what they're doing though because in the UK, I think there's only one or two companies, pension companies that will allow you to buy anything that's Bitcoin related. They're providing an avenue for people that have got their money locked in pensions that can't actually buy Bitcoin. If you can't withdraw from your pension now and just buy the Bitcoin, it gives people a way of actually investing in Bitcoin but via a side door. For anyone else, holding Bitcoin is the obvious strategy. For these guys, they're trying the infinite money loop that sailors actually tried, which seems to be working. For those that can't move money out of a pension fund into Bitcoin or into cryptocurrency, at least this provides them an avenue. This is also an opportunity for stock traders to use their familiar Bloomberg terminals and they can short and long using their traditional instruments that don't have to invent or create new instruments like Bitcoin ETFs or short and long coin base. They can short and long MetaPlanet or micro strategy depending on their market. Ben Arck, what do you think about the Japanese company with $3.69 billion to spend? Yeah, it's the same exploit with Struggies doing, which is the legacy economy meets future economy exploit where you can turn on the value printer and create shares and then sell the shares on the market. You just share to accumulate Bitcoin and then the Bitcoin price goes up and then people buy equity because they want exposure to Bitcoin because they can't get exposure to Bitcoin without like that was saying. Without going through a public company, they can't hold a bit the asset themselves as a bear if you're a pension fund or something, but they're releasing like class A and non-convertible and class B convertible shares. They're turning on the turning on the stock printer and getting as much money as they can. And so in EGM, which is a general meeting of shareholders, which is like sort of held all of a sudden you have an EGM and then they decide, okay, we're going to turn on the stock printer, we're going to print all these shares and then people are going to buy them and then we're going to use that money to buy Bitcoin which then will increase the value of our company. But it's kind of, it's an exploit which I don't think it's going to exist forever because it will just, if enough companies do that, then the economy will just grind to a halt. But for the period in which it does exist, then there's some people making a lot of money. Yeah. Well, it's not the first time that we've said this on the show by myself or anyone else, but perhaps we shouldn't have made YouTube videos and we just should have invented this company where people give us money and we use it to buy Bitcoin and they give us money and we use it to buy Bitcoin and sure the whole time it would have felt like we were running a Ponzi scheme to enrich ourselves. But now it seems like that's working publicly and openly with stocks and other complicated instruments and at the end of the day it's a pirate at 40, I buy Bitcoin and hold it for you, you can trust me. I think the reality is that you can't have Bitcoin and traditional finance exist within the same ecosystem because Bitcoin kind of breaks it. Because you can do this kind of thing and it's similar with Bitcoin and just fear existing within the same ecosystem. Eventually countries will probably start following suit and just print more money by more Bitcoin and I'll be the next play from some country. And yeah, we're talking about like, you know, like, see financial apparatus which has existed for 100 plus years. It's probably time that hasn't even upgrade and some of the rules have changed. But for now, it's a good exploit. People I say they're doing well off the back of it. It does seem been like the old world where I mean most of the world was capitalist. The USSR and perhaps Cuba were communist and the capitalist world was literally working against the communist world in the same way. The existence of Bitcoin, the existence of the old capital system means that meta-planet and micro-strategy and maybe others soon get to use this exploit as much as they can until the old financial system breaks so much and so badly that you can no longer borrow any money against it like that restaurant in Goodfellas. After they've stolen everything they can, taken everything in the front out of the back, ruined all the credit, then they burned the whole thing down and they pretended it was Bitcoin as far as... But I suppose the end caps, the end caps would say that that's not caps, this is just neoliberalism and... They'd be right in saying that and you know, it's still sort of state capitalist capture which just enriches the other garks. It's true, you know, like and maybe you need Bitcoin to exist to make fairer markets and this is one of the ways in which it does it is it just pokes holes and pokes fun at the traditional markets we have which are clunky and broken and backward and weird and they can be exploited in this way. Things are going to change, they'll have to because if they don't then Bitcoin will cause a 2008 financial crisis because all these companies are just to keep my Bitcoin and then there'll be no proof of reserves and then we'll be trading value which doesn't exist. The books won't be balanced and then Bitcoin will be... Well of course the thing which he actually was created to try and prevent which has been able to balance books and after a pledge about keeping. As first it seems to our winning like the Bitcoin system is eating the old system and then it all seems like a joke because if Loki the trickster trickster god had brought down Bitcoin just to kind of mess with the old system for maybe as a responsibility for all the things that they've done. Moving on to issue four, White House report confirms strategic Bitcoin reserve but one word raises the alarm. The latest crypto reports confirms that there is a plan to build a strategic Bitcoin reserve but offers no new details except for one word that has everyone on edge. On page 164 the report says the Bitcoin and the reserve will generally not be sold and will be maintained as reserve assets of the United States utilized to meet governmental objectives in accordance with applicable law. Dan Eve it says generally, generally not be sold. Yeah that's quite... that's quite... it doesn't really elaborate on that right so what conditions just generally mean they did make a point about the the fact that there's a difference between seizures and forfeatures right so seizures could mean that a bunch of the Bitcoin is going to go back to the people that it was intended to help who had maybe if it was a hack for example but generally it's quite... it's a very broad word. It's a very general word some might say so there may be many instances where they actually end up selling the Bitcoin but I mean I don't know much about American law or English law but Thomas what from in your opinion like what if all these steps forward right that the Trump is making in terms of crypto adoption if a democrat government came in straight after could they just do kind of a Germany and just go ha ha we're selling the Bitcoin immediately could they could they do that or is there any prevention in place that puts more checks and balances so it can't be overridden. Well first of all I think the most important thing here is that they haven't passed anything through Congress so mainly they're working by Trump executive orders which are only as good as the president so if the new president comes in says executive order undo all those executive order that happens. Also because they aren't going through Congress Congress in the past generally until this strange admiration Congress has the power of the purse so if you want to get like a billion dollars to buy a billion dollars worth of Bitcoin you get it from Congress through executive action the president can sometimes start wars do lots of things that cost us billions of dollars but generally he can't just print a billion dollars for his own program and give it to it that's why they seem to be going after the seized funds and the proceeds from criminal trials which like you said in the past and historically in other countries as well go back to the victims these are the victims funds and there's also not a lot of them so compared with meta-planet who has 3.69 billion dollars from the sales of stock if the United States were to say issue government bonds take the proceeds from the government bonds use that to buy Bitcoin then have a hold strategic that's kind of what was done in the past I assume with gold and other things when this was done and that's all by acts of Congress this current administration rules almost entirely by executive order or executive action so it can be easily overturned. Okay interesting so anything that he does now it has to go through Congress in order to kind of cement it until it until to prevent it from being just immediately overridden by another executive order from a different president which he could be Republican right could be another reput... it doesn't just mean Democrat could be a Republican president takes over and says actually crypto is used for money laundering and that's it and burglaries and whatever and kidnapping and they could just override it straight away with it with an executive order and the main thing with Congress is if you get it through Congress and the president signs it the way to undo that is passing another law through Congress getting the president to sign it it's incredibly difficult obviously to pass those laws so it would be much harder so that's why they're not doing it. Okay interesting yeah so that that word general it does raise the lambels because it could mean that they they could have come up with all sorts of instances where they still say that they're stacking a Bitcoin reserve I mean I mean he's already got the votes right so he doesn't care about that anymore but they do seem to be proceeding with with pushing Bitcoin crypto leaning laws but this general word really does it's the cleaners. The other thing is just the size of the reserve the seized funds from criminal cases is just not large enough especially for the kind of things that know offense but the right wing political Bitcoin has been talking about this idea that you could get enough Bitcoin to pay off the national debt you're gonna have to invest a lot more than what's in this criminal fund to do that. Additionally we're running into the same problem that we talked about here in the past with the Texas Bitcoin reserve or the Arizona Bitcoin reserves that at some point if the government wants to use those funds to build a park or a playground or a bunch of strategic bombers or something they actually have to spend the money. I know that maybe for smaller people we're starting to see where you could loan against your Bitcoin and you could get a loan for 100k or 500k. I don't know anybody that's loading five billion dollars against Bitcoin so on and so forth so for the government to actually use these funds ever they'd have to sell them and then it's only a matter of time before we start a clock like Germany and we say how long until the government had a horrible decision about these Bitcoin seems about every four or five years. I just don't I mean I understand the government gets a little richer but they could buy Apple stock they could buy T-bills or diamonds we could have a national Picasso reserve those things are really nice. I like Bitcoin too I just don't see the reason for this and then I also without legislation you're not going to get enough funding. There's been an interesting loophole lately where the president has been able to cancel programs that Congress funds but that hasn't seemingly giving them the power to create programs in the same way that Congress has just because now he can seemingly legally cancel them seemingly. So let's go on to the next issue I think we're running out of issues Ben or do you have any more on this issue? Look at how to go to Ben Arc. Come on go do it all. Don't forget me let the L. Go ahead Ben. Yeah so I mean how much how many of those coins are the Bitfinex coins in the in the treasury? The reserve the strategic reserve. It's hard to say it can't be that money those will probably again going to be returned to the victim. Yeah I mean so it's one country's caught on on select the US you know one of the biggest ways they can make money the US government is by selling government bonds and a government bond is really like a bet that that government in the future is going to be good for the value is going to be good for the money and traditionally with the US that's been because you've got the biggest military in the world so you'll probably be good for the money and you've got a pretty stable economy and you make loads of stuff but obviously the US economy is starting to be downgraded you know actually downgraded and then also just in the eyes of investors as well so government bonds are worth as much as their way as they were but you can do a kind of strategy with the government in that you sell government bonds by Bitcoin and then Bitcoin is probably going to go from value which then gives you government bonds more value so you could strategy the US the US economy and there's the MMT is you know they would say that you can't shouldn't apply household economics to a sovereign currency producer such as the US where you can just create more dollars so you know you're not going to I think the soft currency of US the USD can be probably pushed a lot further than people think and you can print a half of a lot of dollars by a half a lot of Bitcoin sell government bonds by more Bitcoin and everyone will speculate that the value of the Bitcoin will go up and thus that the good US government is good for the money and it's a self-fulfilling prophecy because you are in fact you know taking Bitcoin off the market and making it scarcer and it will go up so I think that's probably going to be the next players like get the strategic reserve in place and then start fiddling the money printer so you can buy more Bitcoin print more dollars buy more Bitcoin sell government bonds buy more Bitcoin it'll happen so if you've certainly not a complex analysis thing but we've always talked on this show about that if the government starts doing them they start buying Bitcoin with their money they're going to get less Bitcoin every time and the dollar is going to keep going down and I don't know that's back of the matchbook math or whatever but Dan what do you think about that? I know where you can destroy you can the M&T is we counter that by saying that you then just destroy the dollars as they come in to keep the so it doesn't hyper inflate you just destroy dollars as it comes in in tax or burn dollars burn the dollars baby and and no you know what I mean is in like deflate the like dollars you print dollars you buy Bitcoin interesting you get people to pay their taxes and then you just delete those still dollars as they're coming in on taxes imagine imagine that they're like they actually like because you know how like so many crypto scenes right now like burning is a big event right like we're burning the coins and like oh the supplies we can imagine if they start doing that with the dollar like every tax that you pay like 10% is going to go into the burn pin there's going to be like the burn the burn pile of dollars that would be quite interesting but there so apparently of the 198,000 Bitcoin that are in the current strategic Bitcoin reserve Ben this is 110,000 will be going expected to be returned to Bitfine because part of the legal process so that actually only leaves around 88,000 Bitcoin which is about 43% of the overall well that's good because originally when he was announcing this Bitcoin reserve of you know 200,000 Bitcoin over it was all the people he got screwed in the bit for next act we're going old on the old man does my money it does seem perhaps what the political Bitcoiners most upset about is the government selling their Bitcoin too early I'm sure we all were called the Silk Road bitcoins were sold to Tim Draper the famous investor and in the audience of course we had you know 10 dollars to our name and we're all like no no don't sell them sell them to us the American people you know don't sell that rich guy and you know he got richer and richer and the government got poor maybe they just want to say you should hold them for five years you should hold them for 10 years something like that might be a little simpler well we have this is like you say trying to print and and of course the whole economy so we can get our hands on some Bitcoin this is the crazy thing about Bitcoin which like you start to see explore more nowadays with something like a five official something core you know like there some of the lending platforms in Bitcoin is that with Bitcoin you can you can time lock Bitcoin so as soon as you introduce time so you have something which has value now at a certain you know exchange rate and then you introduce the time element and then it's like well how much of how much value does that thing have now because you can't move the coins until this time has a lap so what are you speculating which the time will be so it's a bit like buying a government bond in the then how much is this thing actually worth now if I can't move this thing until in the future so the strategic reserve they could time lock their coins so they'd be a good way around this and then pick it to some Bitcoin government bond and sell that oh well that's a good point because time locking it would be preventing a way of the current administration by executive order preventing them from being sold we're going to time lock their remaining Bitcoin's for like you know 10 years or something that's that's I'm not giving I'm not giving them ideas I think we are I think we're giving them ideas typical the best that's true if they if they cryptographically time lock they they could not unlock them until the time went off it does remind me Ben of something I heard about once in last video is how during a you know a football game or a soccer game or whatever if you have a bet that's going well you could sell your bet for say 70% of your winnings and someone else would hold it for the rest for that 30% in the same way maybe the government could do something like that kind of sell it early for less even though it's time locked in the contract for 10 years or whatever it does bring up a lot of interesting things and I'll be interesting to see if the government does do like Ben says and a prince that deflates it buys it prince it and creates this cycle of course the spoiler alert is that the CIA invented Bitcoin and they have all the Toshy Bitcoin and they don't care at all about all this nonsense about getting Bitcoin's all they have to do is come back with their keys but nobody knows that it's very true but that's the worst thing we don't want that Ben that would be the worst possible thing is if Bitcoin somehow got into that story but we're running out of time so let's go to a prediction or a story of the week Dan Eve are you ready with that prediction or a story of the week oh so the only story of the week is Bitcoin crash boogah go go go down to 1313000 it sounds more sensible when you say crash down to a crash down to boogah go boogah 100 and 13,700 dollars right now so it's it's oh there you go 13,600, 698 so in the ground scheme of things we're still doing pretty darn good so everyone toast to Bitcoin being over a hundred thousand dollars still and maybe we won't ever see under a hundred thousand again I don't think we will it just I could just see like you know maybe correction down to the near one hundred thousand but then that'll be the psychological barrier for a bunch of buying and maybe we won't ever see below a hundred thousand again he knows I do think that some of this Bitcoin crash is certainly my fault we were hanging out there at 118,000 and I was like Bitcoin's doing so good it's just staying at 118 this is crazy everything's fine with the next second we're down so I don't know if that's the latest last week we're busy possibility we're very bullish last week are you guys where Ben arc what do you think do you have a prediction or a story of the week go ahead not really just grinding away I know honestly didn't even I didn't notice the Bitcoin price because I've had my head down on the in the old computer doing the grinding having a bit of a hardware sprint in Alan bits land fixing Alan POS and the faster the ATM thing and then we have like a new POS coming out which is pretty cool which uses NWC Nostawolik Connect so you can you'll be compatible with a bunch of different Nostawolik Connect providers so looking forward to the hardware sprint being done and I think I hope to have it done this week but I think we're doing it we'll have the sprint done next week so we can and then I'll release some videos on some of the hardware but that's that's a barrier it's just been grinding hard and then it burnt out like the burn out towards yesterday I've worked too hard it's important not to work too hard because human bodies were frail and you know we do implode sometimes so I had a little burn out moment but back back with the vengeance that's good Ben could be working on stuff and of course we want to remind you guys to check out bitfest at bitfest.uk it's going to be November 21st to 23rd at the pendulum hotel and Manchester United Kingdom I'll be there I'm seeing and introducing the events I was got a Nostawolik Festival we've got a music festival and as it says on the web page this is not a corporate event Bitcoin is for the people so I hope if you have some free time in November and you want to travel to Manchester where I'm going to be wearing my heavy leather jacket that I got from a German thrift store it's going to be cold but it's going to be awesome in Manchester check out bitfest at bitfest.uk I probably still get a deal on the tickets or something they weren't that much and like I said we got the Nostawr we got the music we got the speeches everybody's going to hang it out it's a fun little hotel try to book it the hotel if you can too pinch them hotel Manchester UK bitfest.uk not a not a paid advertisement but our friend is running it it's really hard to run conferences most people don't really make any money on them except for the big conferences so if you're just a normal person near the UK you want to go hang out at Bitcoin conference this would be a good one check out bitfest.uk and that's about it I'm hanging out and Amsterdam I got one more week on the European vacation with me in London next week but I'm catching up playing the next day so not that much time left on Europe but it's been super fun and I've been hanging on the Twitter now there's many pictures as the old days it's hard to get through on the Twitter but it's super fun to be in Europe and thanks to Dan and Ben for doing the show thanks for every goodness the thumbs up down below I heard a starship is in his camper van so he's going to have to watch these later so we're not going to get the live commentary feed but maybe he'll give us a comment in the comments down below maybe you will too thanks to everybody for joining us and watching we try to keep these shows going even if it's at a slightly different time while I'm traveling busy busy busy so thanks so much for joining us until next time bye bye