WEBVTT - Cliff Notes: The Next Cryptocurrencies That Could Skyrocket

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<v Speaker 3>and invite the.

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<v Speaker 4>Other cryptos which are fascinating to me right now? Are these?

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<v Speaker 1>So?

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<v Speaker 4>Originally we had the bitcoin ecosystem and the etherym ecosystem

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<v Speaker 4>and everything's being built on mostly ethereum, and all of

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<v Speaker 4>a sudden, the guy from binance cz said, I'm going

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<v Speaker 4>to create my own ethereum right binance Smart Shaine and

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<v Speaker 4>a guy from Korea named do Quon, I'm going to

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<v Speaker 4>create the Terror network. And now Sam Bankman freed from FTX,

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<v Speaker 4>I'm creating Solana, and they're building many ethereums competitors that

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<v Speaker 4>are not nearly as decentralized as ethereum, but they're faster.

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<v Speaker 4>And you know, you look at the TV. You look

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<v Speaker 4>at the TV. You don't know what's behind the TV,

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<v Speaker 4>right Who in the hair cares what's behind the TV?

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<v Speaker 2>How it works?

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<v Speaker 4>We just turn it on. We're like good TV. And

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<v Speaker 4>so there is a debate will consumers care how decentralized

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<v Speaker 4>the blockchains are? Right now they're just saying, hey, is

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<v Speaker 4>the consumer interface is the is the user experience sexy

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<v Speaker 4>and good? And so you're seeing these new ecosystems explode north.

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<v Speaker 4>That's money coming from bitcoin and the theory him into

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<v Speaker 4>the salonic ecosystem, you know, the sam bankman freedz Parah.

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<v Speaker 4>I bought this coin Luna five months ago at like

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<v Speaker 4>twenty seven cents and it's now eighteen dollars. Yeah. You

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<v Speaker 4>don't have a lot of those in your life. Yeah, yeah,

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<v Speaker 4>to kiss your wife and muyron dog from Korea, which

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<v Speaker 4>I actually did. I bought my wife and dog from

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<v Speaker 4>Korea literally literally. And so you know, I think listen

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<v Speaker 4>that the macro markets have never been more interesting, and

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<v Speaker 4>crypto is macro on steroids right now, and so it's

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<v Speaker 4>a fascinating time to be a trader. It's really volatile,

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<v Speaker 4>and so you can't say, well, so volved, I lost

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<v Speaker 4>all my money. No, you have to adjust your position sizes.

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<v Speaker 4>And so if you're used to taking a ten unit

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<v Speaker 4>S and P position which trades at twenty vall, and

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<v Speaker 4>you're trading bitcoin at eighty ball, you should take a

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<v Speaker 4>two and a half unit bitcoin position, right, And it's

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<v Speaker 4>just the math. You don't have to be a crazy

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<v Speaker 4>kamakazi in volatility just because you're trading crypto. You just

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<v Speaker 4>have to adjust your sizes so you preserve your capital.

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<v Speaker 4>Like I think, bitcoin is a core part of your portfolio.

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<v Speaker 4>It's got a purpose. It's going to be around for

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<v Speaker 4>a long period of time. Every institution I know is

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<v Speaker 4>buying something. It's basically digital goal. Ethereum is most likely

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<v Speaker 4>the winner of the decentralized supercomputer that powers all these

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<v Speaker 4>new businesses, all these new ecosystems, but it might not

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<v Speaker 4>be the winner, right. I'm also invested in a thing

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<v Speaker 4>called Diffinity, which is going to launch in about a week.

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<v Speaker 4>They want to be participant in that Solana like I

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<v Speaker 4>talked about Para, There's all these other ecosystems like ethereum

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<v Speaker 4>trying for the same thing. Then there's DeFi. These DeFi

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<v Speaker 4>points trade like equities in some ways. They have a dividend,

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<v Speaker 4>you can you can think of it like a dividend.

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<v Speaker 4>The more the more use they get, the more business

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<v Speaker 4>money they're gonna they're gonna make, the higher the token

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<v Speaker 4>is gonna go up. And so I look at those

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<v Speaker 4>three buckets and say, if you're not in that bucket,

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<v Speaker 4>you're just you're you're literally like a Ponzi game. And

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<v Speaker 4>so light coin BSV, you know, bitcoin cash, bitcoin whatever,

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<v Speaker 4>that bs the other, bitcoin x RP. Those are all

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<v Speaker 4>blowney coins And doesn't mean you can't make money. And

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<v Speaker 4>I'm because every once in a while the market gets

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<v Speaker 4>hot and you know, people like, oh that hasn't moved yet,

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<v Speaker 4>let me buy it, and they pull your friends in.

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<v Speaker 4>It's a little bit like it's a little bit like

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<v Speaker 4>that that game. Stop. They're mean coins and you can

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<v Speaker 4>get your head ripped off being short. And so I

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<v Speaker 4>would not advocate for the non professionals to be short.

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<v Speaker 4>And if you're short things, you want to short them

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<v Speaker 4>after they've taken out everyone out. Everyone else right.

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<v Speaker 3>Can ask you about because you said those are bs coins.

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<v Speaker 3>But what about like a stable coin, almost like a tether.

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<v Speaker 3>And I'm thinking in a sense of if we see

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<v Speaker 3>bitcoin go from sixty four to fifty eight, is it

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<v Speaker 3>a wise move to say, all right, I'll take some

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<v Speaker 3>of my investment, put it in tether because it's stable,

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<v Speaker 3>and then reinvest when I feel like the trend is

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<v Speaker 3>going back up. Is that a strategy that can use?

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<v Speaker 4>No, So listen, I think tether or USDC, you know,

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<v Speaker 4>a circle stable coin, any of the stable coins are

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<v Speaker 4>fine places to part. They're basically just it's like it's

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<v Speaker 4>the same as putting in back in dollars, but you're

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<v Speaker 4>not having to take it out of the crypto ecosystem,

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<v Speaker 4>right right, And so yeah, I think it's a perfectly

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<v Speaker 4>good idea when you want to take chips off the table,

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<v Speaker 4>to leave them with the crypto ecosystem so you don't

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<v Speaker 4>have to go through your bank and put them back in.

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<v Speaker 4>And so we trade a lot of USDC, we trade

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<v Speaker 4>some tether. You know, there used to be a concern

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<v Speaker 4>about is tether real or not. It's the test of

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<v Speaker 4>time enough people believe it's back one to one, that

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<v Speaker 4>it's going to hold hold one to one I wouldn't.

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<v Speaker 4>If I had to leave money for a long period

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<v Speaker 4>of time, I'd rather leave it in USDC than tether,

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<v Speaker 4>even though it's the saving erness.

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<v Speaker 3>What's up? You ever walk into a small business and

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<v Speaker 3>everything just works like the checkout is fast, the receipts

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<v Speaker 3>are digital, tipping is a breeze, and you're out the

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<v Speaker 3>This episode is brought to you by P and C Bank.

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<v Speaker 1>You just realized your business needed to hire someone yesterday.

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<v Speaker 1>all you need.

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<v Speaker 4>Exact thing, but pretty much that's just a dollar. And

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<v Speaker 4>I tell you what's going to happen next year, in

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<v Speaker 4>the year after, in the year after, they're gonna be

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<v Speaker 4>more and more of these stable coins. A matter of fact,

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<v Speaker 4>we're gonna be buying pizzas with stable coins. Mark my word.

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<v Speaker 4>Facebook's new project. It's called Dim like Carpe dim or

0:10:21.360 --> 0:10:25.480
<v Speaker 4>per diem DM. They used to call it Libra. All

0:10:25.520 --> 0:10:28.320
<v Speaker 4>it is is a dollar stable point and you're gonna

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<v Speaker 4>get a o V wallet, so everyone's gonna have their

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<v Speaker 4>own Facebook Messenger. And you want me to send you

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<v Speaker 4>money instead of going to the bank, I'm just gonna

0:10:36.840 --> 0:10:40.760
<v Speaker 4>like venmo, but it's instead of venmo controlling it. This

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<v Speaker 4>is gonna leave my wallet and go to your wallet,

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<v Speaker 4>and it could go overseas and it could be ten

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<v Speaker 4>thousand dollars, not fifteen hundred. It could be one hundred

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<v Speaker 4>thousand dollars. And so the world is going to move

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<v Speaker 4>on to wallet's, not bank accounts. I'm long Facebook stock.

0:10:55.080 --> 0:10:56.839
<v Speaker 4>One of my favorite trades this year is I sold

0:10:56.840 --> 0:11:00.360
<v Speaker 4>a shackload of call options on Game Stop because the

0:11:00.400 --> 0:11:03.640
<v Speaker 4>ball was so stupid, and I bought Facebook stock and

0:11:03.679 --> 0:11:08.199
<v Speaker 4>Facebook calls and I bought it because I know sometime

0:11:08.240 --> 0:11:10.600
<v Speaker 4>in this next half year, they're gonna come out with

0:11:10.640 --> 0:11:14.960
<v Speaker 4>this crypto wallet called nov unfortunately not named after me,

0:11:16.360 --> 0:11:18.400
<v Speaker 4>with the Gnobe wallet, and they're gonna have and all

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<v Speaker 4>of a sudden, you're gonna have twenty five hundred, two

0:11:20.720 --> 0:11:23.439
<v Speaker 4>and a half billion people with access to crypto on

0:11:23.480 --> 0:11:27.000
<v Speaker 4>their wallet. And Facebook all of the son is gonna

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<v Speaker 4>get a little bit of a crypto. You know, you're

0:11:28.160 --> 0:11:31.000
<v Speaker 4>gonna put them in your crypto basket, and so Facebook's

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<v Speaker 4>going from three hundred to four hundred.

0:11:33.360 --> 0:11:38.559
<v Speaker 5>I think I hope quol question for you, speaking of conspiracies,

0:11:38.559 --> 0:11:41.160
<v Speaker 5>what do you think of Peter Tio's comments about bitcoin

0:11:42.200 --> 0:11:46.640
<v Speaker 5>being equivalent to like financial terrorism because it may be

0:11:46.640 --> 0:11:47.320
<v Speaker 5>backed by China.

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<v Speaker 4>And I know Peter Well. I first met him back

0:11:52.040 --> 0:11:54.480
<v Speaker 4>will We both had big hedge funds No. Six. I

0:11:54.640 --> 0:11:57.480
<v Speaker 4>partner with them on a lot of things. He likes

0:11:57.480 --> 0:12:01.120
<v Speaker 4>to be provocative, that's his brand. He likes to say

0:12:01.160 --> 0:12:06.520
<v Speaker 4>ship that everyone says what. He's very smart. He owns

0:12:06.520 --> 0:12:10.520
<v Speaker 4>a lot of bitcoin, he owns positions and companies that

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<v Speaker 4>you know, participate in the ecosystem, and so he's a

0:12:13.960 --> 0:12:20.040
<v Speaker 4>bull in the space. The stable coin war will be

0:12:20.120 --> 0:12:23.600
<v Speaker 4>a war. It's not gonna be a bitcoin war. It's

0:12:23.600 --> 0:12:27.439
<v Speaker 4>a war between China stable coin, the US stable coin.

0:12:27.720 --> 0:12:29.400
<v Speaker 4>Europe's going to have one. I was on with the

0:12:29.440 --> 0:12:32.080
<v Speaker 4>central bank governor Brazil. They're going to have one. Every

0:12:32.080 --> 0:12:34.200
<v Speaker 4>one of these countries is gonna have stable poin. It

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<v Speaker 4>really only matters US China. Right, we're the reserve currency

0:12:37.679 --> 0:12:40.040
<v Speaker 4>of the world right now. In order to be the

0:12:40.040 --> 0:12:42.720
<v Speaker 4>reserve currency of the world, traditionally you had to have

0:12:42.720 --> 0:12:47.000
<v Speaker 4>the strongest navy, right the Brits had, you know, the

0:12:47.000 --> 0:12:48.520
<v Speaker 4>pound used to be the reserve currency, and all of

0:12:48.520 --> 0:12:50.880
<v Speaker 4>a sudden, the daughar became most countries only keep the

0:12:50.880 --> 0:12:53.600
<v Speaker 4>reserve currency status for about one hundred years or about

0:12:53.600 --> 0:12:57.120
<v Speaker 4>the end of our life in that zone. And so

0:12:57.559 --> 0:13:01.320
<v Speaker 4>but why is it important, Well, we have these gigantic deficits,

0:13:01.880 --> 0:13:04.679
<v Speaker 4>so we want everyone to buy dollars, right, how are

0:13:04.679 --> 0:13:07.160
<v Speaker 4>we going to fund these huge deficits. We fund them

0:13:07.240 --> 0:13:11.720
<v Speaker 4>by people overseas buying the dollar, buying our bonds. And

0:13:11.800 --> 0:13:15.320
<v Speaker 4>so if China becomes the reserve currency, if people start saying, hey,

0:13:15.320 --> 0:13:17.640
<v Speaker 4>what's the gallon the oil, what's a barrel of oil?

0:13:17.960 --> 0:13:20.959
<v Speaker 4>And oh, it's in rem MB nine dollars, like right now,

0:13:21.000 --> 0:13:23.360
<v Speaker 4>anywhere you go in the world, you ask how much

0:13:23.400 --> 0:13:25.480
<v Speaker 4>he's worth. He said, Well, I'm worth a million dollars,

0:13:26.000 --> 0:13:27.720
<v Speaker 4>I'm worth four and a million, I'm worth ten million.

0:13:28.000 --> 0:13:32.000
<v Speaker 4>They never tell you I'm worth fifty rai or you know,

0:13:32.520 --> 0:13:37.360
<v Speaker 4>one to have a million euros or right, everyone thinks

0:13:37.400 --> 0:13:40.480
<v Speaker 4>of the base currency in dollars. That's because we're the

0:13:40.520 --> 0:13:43.400
<v Speaker 4>reserve currency. That's a huge advantage for the United States

0:13:43.400 --> 0:13:46.640
<v Speaker 4>of America. And so for us to lose that, you know,

0:13:46.760 --> 0:13:49.079
<v Speaker 4>war with China, who's way ahead in the stable coin,

0:13:49.120 --> 0:13:52.120
<v Speaker 4>would be a tragedy. And the government now knows that.

0:13:52.160 --> 0:13:53.800
<v Speaker 4>And so I think you're going to see an acceleration.

0:13:55.320 --> 0:13:59.959
<v Speaker 4>Bitquin is a bit quin is kind of a flaw

0:14:00.200 --> 0:14:03.520
<v Speaker 4>in that hole, you know, in that room of negotiation,

0:14:04.080 --> 0:14:07.120
<v Speaker 4>because what bitcoin is telling governments is, dude, you guys

0:14:07.120 --> 0:14:10.280
<v Speaker 4>are doing such a shitty job with your budget deficits.

0:14:11.440 --> 0:14:13.880
<v Speaker 4>You are printing money. My mother used to say, money

0:14:13.880 --> 0:14:16.120
<v Speaker 4>doesn't grow on trees. Right now, money is growing on trees.

0:14:16.679 --> 0:14:19.840
<v Speaker 4>Let's make college free, right I think they probably should

0:14:19.880 --> 0:14:21.800
<v Speaker 4>make costs for Let's pay off your student debt. I

0:14:21.840 --> 0:14:22.520
<v Speaker 4>will pay it on it.

0:14:22.960 --> 0:14:23.800
<v Speaker 2>Let's just keep.

0:14:24.720 --> 0:14:26.720
<v Speaker 4>Pumping in more and more money. Let's go to war again.

0:14:26.760 --> 0:14:29.080
<v Speaker 4>Like the amount of money are government spending. We don't

0:14:29.080 --> 0:14:32.440
<v Speaker 4>have that. And so bitcoin is like a report card

0:14:33.160 --> 0:14:36.640
<v Speaker 4>on how the government's doing. Bitcoin's going up because people say, shit,

0:14:36.720 --> 0:14:42.080
<v Speaker 4>there's a chance, not a it's not the predominant probability,

0:14:42.640 --> 0:14:46.960
<v Speaker 4>but there's a possibility that is growing that you know,

0:14:47.000 --> 0:14:51.480
<v Speaker 4>we ship the bed that the US yield curve and

0:14:51.560 --> 0:14:55.360
<v Speaker 4>dollar looks like what happened in Germany the at the

0:14:55.440 --> 0:14:58.280
<v Speaker 4>beginning of the century, or what's happened in venezuel lower.

0:14:58.640 --> 0:15:01.240
<v Speaker 4>And we're like, that could never have been here, and

0:15:01.320 --> 0:15:04.240
<v Speaker 4>most likely it will never happen here. But man, the

0:15:04.320 --> 0:15:07.520
<v Speaker 4>chance is hired today than it's ever been in my life. Again,

0:15:07.560 --> 0:15:09.800
<v Speaker 4>I don't think it's a forty percent chance, but as

0:15:09.840 --> 0:15:12.120
<v Speaker 4>it goes from a zero percent chance to a five

0:15:12.160 --> 0:15:15.440
<v Speaker 4>percent chance to a ten percent chance, people want insurance,

0:15:16.120 --> 0:15:18.840
<v Speaker 4>and bitcoin is insurance. And the governments know that.

0:15:20.880 --> 0:15:25.760
<v Speaker 6>My graduates from my school being false bad drop bag

0:15:25.840 --> 0:15:28.240
<v Speaker 6>Drop Mike drop bad.

0:15:28.160 --> 0:15:29.560
<v Speaker 5>Drop Drops.

0:15:39.520 --> 0:15:41.960
<v Speaker 3>Here a more extended conversation. Make sure to check out

0:15:42.040 --> 0:15:45.280
<v Speaker 3>our live YouTube show market Mondays every Monday eight pm

0:15:45.320 --> 0:15:48.440
<v Speaker 3>Easter Standard time, seven pm Central, and check out the

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0:15:52.160 --> 0:15:53.200
<v Speaker 3>download your podcast.

0:15:53.240 --> 0:15:59.560
<v Speaker 6>Now my graduates from my school being false bad drop

0:16:00.200 --> 0:16:03.920
<v Speaker 6>banks rap, oh my draft bang drops.

0:16:15.120 --> 0:16:18.960
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