Speaker 1: 0:01

Hey everybody, blue Toshi here and I got Disco on my right. Did you survive the one day, bear, where you couldn't even go into your platform trading accounts, your TradFi BS, and trade anything? Nope, because they blocked you. That and more on today's show.

Speaker 2: 0:21

This is Decentralens, distilling the crypto news you need to know and why.

Speaker 1: 0:29

All right, I like a disco short opening. Appreciate you doing that.

Speaker 2: 0:33

Yes, I liked it too. I used to get a little sick of my own voice just on the intro before, so we're happy about that.

Speaker 1: 0:39

Yeah, we went from like 15 seconds to like four seconds, but what a week. You were out of town last week but you came home to an interesting day. What the market dropped. I think two and a half percent last Friday and then Monday felt like another would be labeled like a Black Friday. I think it was one of the biggest declines in the last what like 20 years and and now it's gone and we're and we're here and no base cases changed nothing significant.

Speaker 2: 1:07

The only thing you have is still the desire to have more cash on the couch that you could apply. I mean not speaking for everyone, but speaking for myself and I thought it was really interesting. You had the traditional markets, I think like the top or five of the top exchanges went down literally during that day or especially overnight, and all that stuff, and it looked like we were just the solid soldiers, Like we've seen this before. You know this whole space. It's like we didn't go down, we kept rocking, we kept going, we didn't panic, you know, and it was kind of like take a little taste of this, TradFi guys, You're going to be OK, Don't panic and just be cool and make it go.

Speaker 2: 1:46

So it was really interesting to kind of watch all that play because we had interface anyone I had interface with. It just seemed like there was a general kind of sentiment for the folks that have been in the space for more than a minute Like dude, it's okay, these things can happen and it's not, you know, Bitcoin's fault or anything. You know crypto specific. So it was interesting to navigate.

Speaker 1: 2:04

Yeah, for sure. Well, you, just you just pretty much summarized our take for the entire show. So I appreciate that. I appreciate you speed running everything but, yeah, I mean what a what a crazy, what a crazy day. I mean you're, you're a Bitcoin top of last cycle 21,. Uh, 2021, guy like did and and what, what. What you told me in in our pre-show kind of blew me away, like, were you worried at all on monday when it felt, you know, because friday was down, you were out?

Speaker 1: 2:35

of town and then monday it felt like the sky was falling. The market was down three and a half percent. Bitcoin was down, I think 15 it. It dipped down to like 49. Like, did that? Were you worried about that at all?

Speaker 2: 2:49

No, and I feel I don't know how to articulate this correctly but I feel and I love the image for those who can see but I feel as if I almost graduated to be more of like I don't want to say a multi cycle guy now or anything, but I feel as if I could draw on perspective from my time in the space and I feel like I'm not necessarily an underclassman.

Speaker 2: 3:12

At this point it's like oh, okay, I get it. So I kind of feel like I'm more of like you know, further along where I'm not going to fall for that, I'm going to look at it as an opportunity. And then I'm also going to realize, hey, just because there's an opportunity, I can't, I'm not going to go sell my car to jump in, you know, and get more in there or whatever. So I kind of just steadied it and just waited and basically told everyone who was trying to get my goat, you know, like, oh, have you seen that? Like dude, it's going to be fine, this is an opportunity, you should jump in. So I feel as if I don't know if I got another you know badge on the arm or something, but I would kind of pat myself on the back for it because it was just like dude, this is just fine, it's no, it's nobody's fault.

Speaker 1: 3:46

Yeah, that's, that's huge. I think that's a huge take um, because it takes a while to not be panicky, Um you know we did go from last year when we started this podcast. We're 19, 20, 21 on Bitcoin, Ethan Solano we're way lower too, Like it, Like it's been a big change. We're back in the what are we at?

Speaker 2: 4:07

We're mid to high 50s.

Speaker 1: 4:09

Yeah, so it has dipped, and when the ETFs went live in January it was at, I believe it dipped down right after to 49. So I'm still up there because with oh no it started like 56 and then it actually dipped like a couple of days later, cause when I had to get out of Vanguard to go to fidelity.

Speaker 1: 4:30

Uh, everything had dipped quite nicely for me. But you know, I, I, I'll, I'll admit like I, dollar cost averaged in. I wish I had done my DCA Monday, but I did it on Friday where the market was down, but uh, I don't think Bitcoin was. So I think I bought my last little little tranche in the retirement account at like 63, but you know, I'm not worried.

Speaker 1: 4:53

And I did try and log in on to my trading platform on Monday and it was down and we'll get to that story in a bit. So I did go to the app and the app appeared to work. I did not try and make a trade. I was debating whether to buy a little more Bitcoin that day. Obviously, in hindsight I should, uh, should have. But I guess also, like I wasn't worried about it, I was like, eh, I could do it.

Speaker 1: 5:21

But sometimes when these things fall like you know I mean the US economy it just feels like it's on, it's hanging on by just like threads. It reminds me of, like you know, when your kid like those last remnants, when the tooth is falling out, like those back teeth, and there's literally like a thread of the molar or whatever the big back teeth teeth are coming out. You can like spin them and everything. Like I, I can't imagine that that two and a half than three and a half percent, and now it's come back probably gained at least half that back, if not more like so everything's like magically just fine, even the, the nikkei index, um out of japan, even that one I don't. I don't know if it recouped everything, but it recouped a lot of it. So like what are?

Speaker 1: 6:11

these, yeah, are these fire drills, just so the whales can like not let us trade in the platform, so they can just, like you know, buy. Apparently, they bought 14 billion dollars in assets that day. We're not taking bitcoin, we're talking like all assets. I guess retail investors sold a billion, so who knows?

Speaker 2: 6:30

it's just yeah, it feels sketchy to me, but you know, and it feels so weird also seeing, like before, when I was, you know, when I would get more inclined to panic or whatever it was specific to something within the space, you know, and I was like, oh, it's from FTX or oh, this is because of X, y or Z or a dump from this, but this just seemed to coincide with the macro. It was as if it was kind of tied to it and it really we, we we've been talking, you know, obviously there's been, you know, some some potential unloading with Mount Gox and all that stuff over the you know, past couple of weeks and you know Blue, you've been saying, you know, hey, we could probably have one little more. You know, little dipper, that before we kind of run and go. So it kind of happened, but it didn't feel like it happened as a result of crypto or Bitcoin and in that was very kind of, I felt much happier that I had exposure in both worlds as opposed to just one.

Speaker 2: 7:23

I didn't feel like oh, I'd be better off just with stocks. I was like, thank goodness I have this other kind of hedge in place against, as you were saying, the whole kind of global economy and everything in the stock side of it, for sure.

Speaker 1: 7:36

Yeah, and it's interesting because my theory and thesis has always been everyone who listens to this show and please share with your friends, been we everyone who listens?

Speaker 1: 7:46

to this show and please share with your friends. By the way, um, and we are on Spotify, youtube, and if you want to just listen, uh, we do record this a video too for for YouTube, and obviously, here live on X, um, but, yeah, it's, it's just, it's a lot to wrap your head around, but Bitcoin always seems to dive first and dive harder in these panics, because we always forget. We see Bitcoin as a run to safety. We're fully orange-pilled. Michael Saylor, single dollar triple Bitcoin maxi, which, if you have not seen that video, we'll talk about it in a bit, but you have to watch. Go to michael saylor's twitter account and watch it. It's like 20 minutes, I think. It's if you, if you think you're a bitcoin maxi you like, I have a lot of my wealth and I'm low on the curve.

Speaker 1: 8:36

I'm like you want me to mortgage everything, but you know, but bitcoin tanked first and you know, and it's rebounded not fully, but it's rebounded a lot but Bitcoin tanked first. So it's like I guess part of the beauty is like I bought those two Bitcoin in March of 2020 when it went down below $5,000. And I was like it was kind of how you feel. Now I'm like I knew, I'm like unless the world literally goes to hell in a handbasket and COVID shows everybody which was possible. But I'm like then it doesn't matter if I hold Bitcoin or an excess of mattresses or, you know, like turkey feathers, like it didn't matter.

Speaker 1: 9:14

I'm like it might as well be Bitcoin. And it shot up immediately, like days later, and it stayed under 5,000 for maybe a couple hours and I was that's probably the best like non-panic, non-fud brain takeover trade that I've made. And now the bags are packed. But the beauty, you know, it's a blessing and a curse, but all the Wall Streeters think that that this is the most risk on asset you can have. They're like I'll dabble a little in Bitcoin and then and then the market goes down and that's the first thing to go Probably cover all these shorts and all these liquidations that happen in the market. But that also it sucks for us because they have more money than us. We are.

Speaker 1: 9:54

Gs. But it's good for us because and I don't know if this is always going to happen but is it always going to have a massive dip, bigger than the market, where you could be like, oh, they're panicking because they'll be back, you know?

Speaker 2: 10:08

Exactly and you go back to all the you know toothpaste back in the tube and everything like that, and you know none of those factors have changed. And that's how I look at it. I think you're 100% right. You could almost benefit from the overreaction if you have, if you have just belief that it's going to go back up, because I was telling whoever was at my lunch table I was like, listen, this is the chance if you want to get in, because it's going to go back up within a day or two, and sure as heck it did. So it's almost something.

Speaker 2: 10:38

You can kind of set your watch by now. And I'm sure smarter people than I have figured out you know algo, trades and things like that to be able to take care of that. And with the influx of more of the traditional finance folks, I'm sure that's going on a hell of a lot more than before and you know it does. Then I start thinking and going back to the other thing of just as you said, you know like your bags are packed, you're on the plane, wait for the flight to land and you'll be happy when you get off, you know, and it's like just enjoy the. You know, sit back, relax, enjoy the flight.

Speaker 1: 11:08

Yeah, and you know, it's funny, like when we record this show, like there's a part of me who you know. We're independent media and we want to report things as we see them and be as honest as possible and give people the takes and weave all the stories together. But it's funny that the more you pack your bags with Bitcoin and kind of make that your personal reserve currency, the more like the more it allows you to just be artistically free to create whatever vibe you want. You know, like I just wonder, is this thing, which our conjecture is, obviously, and everyone here, like it's going to rip, like it won't matter if we get sponsors, like none of that, none of that?

Speaker 1: 11:55

old school commercial and and that bullshit model that you and I came from. I mean we came from the entertainment world where, where we were model that you and I came from. I mean we came from the entertainment world where we were responsible both of us in totally different worlds of of make sure you got to put ads in there, put ads in the entertainment and so many things. It's so much more subtle now, like the commercials are. You know, a Superbowl commercial is obvious and TV commercials are obvious, but look at all the product placement. Like sometimes it's not until after you watch something.

Speaker 1: 12:26

My daughter and I we're at the tail end of summer here and we're watching a lot of modern family reruns and in the later seasons there's a lot of scenes in a car and it's a Toyota. They all drive Toyotas and they make sure the little thing, the little 28-second little gag at the end. It's like as they drive away. It's like, make sure the little thing, the little 28 second little gag at the end. It's like as they drive away at like, uh, you make sure you get that toy.

Speaker 2: 12:50

A logo in there, let's go places, let's go places disco, let's go places.

Speaker 1: 12:53

So you know it's, it's very, it's a cool feeling. You know, obviously we're not. You know we're not rich disco, we're pre rich Right, we're pre-rich right. But it feels cool to talk about the things we want and to share the important things to us to our fellow listeners, because at the end of the day, it's about integrity and it's about having fun and talking about what you want to talk about.

Speaker 2: 13:25

And I think there's also a big opportunity or need that's going to continue to develop, which is to find people that are taking the chance to think critically about what you're absorbing.

Speaker 2: 13:33

And when you saw news which we can get into in a little bit, but you see an announcement of a running mate and you can go to X major, this major media outlet, and you're going to hear one side that's just like, oh, this was brilliant outlet, and you're going to hear one side that's just like oh, this was brilliant.

Speaker 2: 13:47

And then you're going to go on the other side and they're like oh, they're cooked. So it's like you need to kind of find a community of people that are committed to looking at things critically and once you kind of have that light bulb go off your baseline on, pretty much everything changes. So I think that now we're really in an age where, as you say, it's kind of up to yourself to create your own palette and canvas and when you're in that space, you know that's kind of your mission or your guiding forces are kind of the things that you believe that you can actually say dude, I do believe this, like I do believe that Bitcoin's going to be okay. I do believe that it's not. You know that, that that's going to be something that's going to be transformative. And if I do believe that, then you know X, y and Z. I can tune out, or I can look at it more from an entertainment perspective.

Speaker 1: 14:33

Yeah, absolutely, you can pick and choose your stories. And and you know, I have to say, as, as time's going on with RFK, the more I see him speak on the X timeline or just anywhere, the more I like his take, because he's calling out, you know, and and Trump did it in the last cycle with the mainstream media, with fake news, and you know, I I came from a, a very democratic town and and I don't want to speak for you, but you know, I was like how can you just you know stonewall, that, but you know, and a lot of it. Now I look back I'm like some of it probably wasn't fake news, but I think that was just what he used for everything, but a lot of it probably was. And some of the coverage of him, because the coverage of rfk, they're trying to make him out to be this quirky, eccentric, like like now I'm hearing something he put a bear somewhere on like an Island and not like in central park or something.

Speaker 1: 15:25

Yeah and and like I haven't looked into it, but like mainstream media, that they're going with a narrative of this kind of ruling, uh, class behind what's going on behind the government, and it's just like we can see under the curtain now. And you know I I'm probably going to vote for him. I don't know if he has a chance, but I like what he's saying. You know I will get into the political stuff, but my God, there's just well there's so much.

Speaker 2: 15:55

I just think. I mean, just looking at the RFK side of it, it's just, it's unbelievable how little mainstream coverage that he gets. You know what I mean. And it's unbelievable how little mainstream coverage that he gets. You know what I mean, and it's like you really see that there really are, you know, some sort of guardrails in terms of what gets picked up and why and who's behind it. And you know, I really think, that there's an opportunity for you know, independent media and you know unsponsored media to have a voice and be responsive to their community, as opposed to, you know, kind of the mandates or the talking points that appear to be kind of fed down and kind of filtered out yeah, a hundred percent, a hundred percent.

Speaker 1: 16:32

So let's get to. No, this is good. I mean like there's a lot just for everyone.

Speaker 1: 16:39

We weave out all the stories together because everything is so tied together right now. And you know, it's maybe fundamentally it's a decentralized story, it's fundamentally it's a Bitcoin story, but fundamentally it's all about us and it's not a red thing, it's not a blue thing. It's now an orange thing. Um, you know, I think we'll skip around today because we kind of went to the politics kind of before what happened on the on trading Monday. But let me show you this. This is such a great little um. So there's a guy named Troy cross and you've, you've got to check out this post. It's, uh, the T-R-O-C-R-O, so that's his Twitter handle. Let me just show you this. This is pretty fascinating. So, speaking of politics, they did a study basically on political orientation of crypto holders and we talked about it last week and you had mentioned you wanted to see the chart and I think it's very apropos for what's going on with Kamala Harris picking her VP.

Speaker 1: 17:45

Clearly, those guys are not in the crypto camp at all, but now these billionaires are coming in. But just to set the kind of baseline for what we're looking at, I think a lot of us you and I are actually going to have to duck out of the way here. I know a duck out of the way here, but the the on X and everywhere it's been said that you know it's, it's very, it's more conservative, it's more Republican for Twitter, uh, and and for crypto people, and that's simply just not true. They they did an exhaustive study. Um, and what we're finding is behind me is a liberal. Just say no, I try and move, but I'd have to like move my whole chair. How long can I do it?

Speaker 2: 18:29

Yeah.

Speaker 1: 18:30

It's so, so it's super. The owners are orange, the non-owners are gray, for those aren't looking. Basically, the political orientation orientation based on Bitcoin ownership, neutral. So basically, independents are by far, for holders and non-holders, the highest. And then for Bitcoin holders for conservatives it pops up a little, but for very, very liberal it pops up a ton for holders. So it's interesting how the neutral and both spectrums, but really everywhere.

Speaker 1: 19:08

I mean, if you look at this chart, from orange to gray holders to non holders, besides the liberal, which is way more outsized in the super conservative, which is a little outsized, everything else mirrors just what someone considers themselves politically. So the point is this is not a red thing or a blue thing. This is an orange thing and we are all as, as bitcoin holders, we're transcending this entire bullshit of red versus blue in the same, not that, not that a lot of these things they've been fighting about for 20, 30, 40, 50 years are. They're important, but some of them are so played and it's just like it's. It's almost like they got them to dig in on these. And finally, where we are as bitcoin holders, I think, whether you're on the, the far left or right, or if you're more neutral like me, just trying to get a stuff. The net. Net is that Bitcoin holders are everybody and they're transcending politics entirely.

Speaker 2: 20:31

Yeah, it was interesting. Yeah, you started to see some news out there this week. You know, the chief legal officer for Coinbase had a plea basically on X, saying let's not make this partisan, let's try to not make crypto just a partisan issue, and in seeing this breakout you can see the rationale behind that. So it's easy, as we've talked about, like with what you're fed, based on your algo and your community, to be like, oh well, everybody who isn't, you know, conservative is anti-crypto or whatever. But we can see just from the owners that that's not the case.

Speaker 2: 21:10

And then you have to also understand that the constituencies you know from you know local. You know if you're responsive to your local constituency or you want to make sure that you can keep a longer career and you're a younger politician, you're going to, regardless of what party you are, you're going to want to be on the side that's going to win with crypto. So I think that it's real easy kind of knee jerk to be like, ah no, this happens there, you know, and I was going through this thought. I was like, okay, if you know, if Harris wins or whatever, does that mean that crypto is cooked? And I'm pretty much sitting there now thinking like dude. It's almost like it's got to the point that it's too ubiquitous and too big to fail from that perspective, and I don't think that anyone really wants to be on the line. You know, down the road of being like you were the one that stopped, you know, this innovation from happening.

Speaker 1: 21:53

So it's that's a fascinating I mean the number one super pack now is a crypto super pack and they are going against different folks um to to finish off kind of on this point with orange transcending red and blue entirely. This is kind of the moral foundation profile versus ownership predictor. So in your super light you've got the non-owning, non-crypto or Bitcoin-owning liberals. The little darker gray circle is non-owning conservatives. If you'll notice, like for care, equality, perceived morality, utility, knowledge, trust these things that they value so dearly, they're pretty much overlapping with each other the liberals and conservatives who don't own Bitcoin. But what really stands out and for those of you listening, just go to um here I'll give you the time stamp at like 22 minutes. Definitely check this chart out. Or just go to the trocrow on x tr t-h-e-t-r-o-c-r-o and look at this study.

Speaker 1: 22:56

Basically, perceived morality, utility, knowledge and trust pop way out for Bitcoin holders. So basically, a Bitcoin holder learns that you can have, like, trust in commerce and you can have knowledge and utility and this perceived morality it goes way, way out and care pops up a little bit too. So these moral things that a lot of us obviously hold dear, as you become a Bitcoin holder, you actually it kind of sets you free because you realize what can be possible as an immutable financial system, where it's not controlled by this small consortium of fat cats who try and control everything. So, Troy and his whole team and everyone who did this is such a great study. You've got to check it out. But again, the net. Net is that Bitcoin transcends all political bents and we are now a new orange party. We're in this together and the more you're in Bitcoin, the more that trust, knowledge and and utility and these important kind of moral compass. Things become more important to you as you go down that orange rabbit hole and learn.

Speaker 2: 24:16

Yeah, it's. It gets to like going on like almost a thought exercise of, like you know, you really hit on the red, blue or orange right and is there potentially an opportunity, you know in cycles to come for orange, you know, to almost represent that new, you know, you know kind of cross party new opportunity. You know it's like we might have been a little too early this cycle but I don't see why moving forward this central issue, you know, couldn't be something that could create that other kind of outside of the outside of the system force and ultimately be, you know, a manifestation of the decentralized centralization notions and ideas that we really care about. So that would be. I would love to see that come to life, wouldn't you, like that, be remarkable for looking at that?

Speaker 1: 25:01

I think it is coming to life, I mean yeah, it's it's happening. I mean, obviously we have to see how this election goes, but I mean the tide is definitely turning. You know, if you know, let's, let's just jump over to um. We'll go politics first and we'll go back to what happened monday. But uh, let's go to um. Kamala and the whole like so she picked her vp, this guy and disco. You know more than I do.

Speaker 1: 25:26

This guy's from minnesota, it sounds like he's a veteran sounds like he's got a really good track record. He was a school teacher. He's got a lot going for him.

Speaker 1: 25:34

It sounds like he's not very crypto friendly correct and now the the important thing to take out of this and I'm putting this picture up there a little tongue in cheek, folks, but the net. Net is there's a bunch of billionaires like Mark Cuban, I believe, reid Hoffman and a lot of these guys. This crypto for Harris, you know, it's like her pick is not crypto, but these billionaires are saying, don't worry, like they're going to get there Now. I hope they do again. For me it's bipartisan. I hope whoever wins orange wins, you know.

Speaker 2: 26:11

Yeah, a hundred percent, and just to just kind of flush that out. So yesterday, um, she made the announcement. It was a little bit unexpected to a degree because, um, josh Shapiro was leading in polymarket like maybe 60 something percent to him being like closer to 40. She picked him and they did the big rollout and everything like that. And on that exact morning then, uh, they announced that there's now a new um crypto, you know crypto for harris, uh pack that formed and they're going to be doing a meeting, I believe next wednesday, which I'll probably tune into just to see how they're trying to position it. And, yeah, the main person that they're dangling in being behind and being involved is Mark Cuban. So we'll see how that shakes out.

Speaker 2: 26:51

But that was the immediacy that they felt that they had to kind of counter the narrative of now we have this. So I kind of saw this as a new force, like, hey, dude, we're not going to let that become the narrative. We're going to show what's going on. And with Fairshake or any of these big ones, they're not necessarily partisan at this point either. They're more orange, they're looking to support the cause that we believe in so much. So I thought it was just interesting that they were ready to go that quickly with the announcement of this new kind of counter pro-crypto organization of this new kind of counter pro-crypto organization.

Speaker 1: 27:24

Yeah, 100%. And the way you just phrased that, I'm going to add Steven's thing. I thought this was pretty funny. We need an orange party ticket, Blutoshi Disco 24. Well, that would be a bad call. We're both business owners. We've had a ton of different businesses. So, Steven, I always appreciate your support. He always pops in and he's one of my favorite people in the space and he's my new. He's my new with scribe on the road conference BFF. So, dude, next time we're getting a big old house and we're going to get some some cool artists with us and we're going to have a good mix of people.

Speaker 2: 28:04

And we'll we'll try to do a filter on Airbnb or or Verbo to to get an orange colored home.

Speaker 1: 28:06

We'll see if we can pull that off or maybe we'll ask them if we can paint it orange, pay a couple extra thousand bucks to do that. But uh, you know, in all seriousness, like your take disco. It didn't even dawn on me but that that's really important. That the it's not necessarily the news of the VP pick, cause I have no opinion on that. I haven't researched them, nor will I, but the fact that they came the next day saying like wait, wait, wait, wait, wait, wait, wait, wait, wait, wait, wait, wait, don't worry, like crypto we're still we're still not.

Speaker 1: 28:45

was she this crypto for harris? Is or is she tied into this? Or is this these left-wing billionaires saying, hey, we've got this thing like is? Is she giving it the stamp?

Speaker 2: 28:52

we don't know they haven't, they haven't, they haven't gone there yet but the fact that they're I believe she just hired um, someone from binance to get involved, so they're, they're readying that, like I think they're writing out this announcement and trying to kind of milk that for as much as they can. Obviously the convention's coming up, which is a whole other situation. Who knows if it gets ironed out ahead of that and we could actually hear you know some pro, you know crypto policy potentially, which would be probably pretty seismic if we heard it come out of the democratic national convention. That would kind of be like a you know all clear for us to be like well, okay, cool, either way, crypto is going to be protected a little bit and be in good shape. So it's, it's evolving.

Speaker 2: 29:30

But I was fascinated that it happened the same day. It was like the press release went out and then all of a sudden this thing gets formed and they're having a meeting on next Wednesday and we'll send out the link for that, because I think it'll be interesting to see a who shows up and B how, how far they're really going to push. Because one thing I found so interesting is in watching the sailor situation and watching just kind of the news come out of Nashville. It was all very much aligned, like you know. You had sailor talking about the reserve currency of like four. You know they should get, you know, four million or whatever it is, and then that was kind of the same thing that Trump said. It was kind of the same thing Loomis said.

Speaker 2: 30:09

So it's fascinating if we could then hear Democrats start, you know, kind of advocating for the reserve currency side of things and that would kind of give me the olly olly income free. You know, like we're good, we don't need to play kick the can anymore. Ollie ollie income free. You know like we're good, we don't need to play kick the can anymore. You know we've really arrived.

Speaker 1: 30:25

So yeah, that's great that we pulled that up. Yeah, I mean, let's just go right into it then. So, michael Saylor speech uh, if you have not seen it, you absolutely have to see it. I'm sure everyone's seen. Uh, the chart, the screen for those listeners, the. He's predicting by 2045, the base case of, uh, a one Bitcoin would be about $13 million. The bear case would be about a $3 million Bitcoin. The bull case, ho-hum, would be a $49 million Bitcoin.

Speaker 1: 30:57

Now, uh, remember you're not around him, you are absolutely not bullish enough. He is. I mean, you got to check this out. So, like he's predicted, by 2045, the Bitcoin market cap it's about a trillion now to go to about 280 trillion gold. He's saying 45 trillion. So Bitcoin will flip gold. What is that? Six times over, roughly, art will be 110 trillion equity, 850 trillion. So your stocks, basically Real estate, the biggest by far at 1.360 trillion or 1.36 quadrillion. Right, 140 million money at 500 trillion. So you know, take it or leave it for what you will. Bitcoin has already grown super fast, but if watch this video it's, it's insane how. So here's basically the breakout. So bitcoin it's not like bitcoin.

Speaker 1: 31:59

You know, yeah, it's not like it's half the chart, it's just like real estate's still the biggest one. Money currencies all over the world are still bigger, but if you want to run to a store of value, you go to Bitcoin. But it's he talks about individual Bitcoin strategies and how to handle it. And he's got Normie, which is 0% Bitcoin, which is NGMI. Obviously he's got at Bitcoin at 10%. A Bitcoin maxi would be holding 80% of your net worth in Bitcoin. A double maxi is holding 100% and $125,000 mortgage on whatever, uh, so taking out debt like he has to, uh, buy more Bitcoin and the triple maxi is a hundred percent of everything and taking out like a $250,000 loan, basically taking the loan out on your house, uh, and just going into debt for Bitcoin and and you know you'll and you'll just have to watch it.

Speaker 1: 33:04

And I thought I was bullish when you watch Michael Saylor. It's just, we're not bullish enough. We saw Michigan's coming on board the state of Wisconsin with their pension funds. It's happening. Remember from a couple months ago, disco Mr 100 Bitcoin. It was an account that bought 100 Bitcoin a day.

Speaker 2: 33:25

I think some people thought it was not El Salvador, it was Favre or something.

Speaker 1: 33:29

Yeah, I think it was Qatar, one of those Middle Eastern countries they just bought on the dip. On Monday they bought 1,000, I believe so slowly, suddenly, all at once. But again, do go to this Michael Saylor speech. It is it's 37 minutes, but it is a definitely a must listen.

Speaker 2: 33:50

What really, um, what I, what I was most surprised about in that cause?

Speaker 2: 33:54

I was like, yeah, obviously you know it's going to be very bully or whatever, right, but even when they show, when he outlined the bowl projection and when you did see that in 2045 representative of the percent of the overall kind of asset allocation globally, I don't think that's a stretch. You know what I mean. Like from like business school, it'd be like people would do this and be like, oh, the Excel guy would be like, well, let's just say we'll do 10,000 units instead of a thousand and we got a great business plan. So I always look at everything like from that, like dude, are you just adding a zero to make it look good? But when they showed the, that it's really, you know, kind of concentric or you know, along the same lines as like gold or whatever it is, it's not outlandish to think that that's a very legitimate projection and that just makes me want to, you know, figure out ways to acquire more bitcoin at this at this entry point yeah, I feel like each show we have, we just get more and more bullets regardless.

Speaker 1: 34:48

So I I wish it was today, like I wish it was black wednesday instead of monday, so we could be right in the middle of it and, yeah, the, the, this is fine. Uh, we could just have that fire up basically the whole time, like our little, our little pepo.

Speaker 1: 35:03

But yeah the longer you're in it you know it's been 10 years for me the less you kind of worry about it, because it I guess it starts to turn into a philosophy. Like you, you've seen a better way to for it base case, the store of value, but obviously the transact. The store of value, but obviously the transact. And you know, I guess that's a perfect accidental segue to, uh, topic two. There it is. Hold on. We got to get rid of topic three, get rid of topic four. I got too many on here now. Um, let's see what do I have up here? Still, there it is okay perfect.

Speaker 1: 35:42

So on monday yeah, I like that, so I added that text. But but basically, on monday, fidelity, city bank, td ameritrade, vanguard and charles schwab and e-trade and I think I left out a couple. Have you heard of these? All of them at some point on Monday, and I can confirm, with Fidelity, I could not get in to my account. So you know, was that a setup or was that?

Speaker 1: 36:15

But it's just again, the financial system is open 19%. You take holidays, you take off hours. You know it's open in the Midwest. From what is it? Nine or eight, 30 to three. So it's open 19% of all the day. In a year. It's open 19% of the time. That is nothing. Bitcoin is open a hundred percent of the time. And again, I guess we're going to Michael Saylor a lot, but he had an awesome tweet yesterday and then and then I'll let you go. He's basically like you got air a hundred percent of the time, you got water a hundred percent of the time. Maybe like currency and store of value should be available to trade a hundred percent of the time. I mean it's just absurd. So if we didn't, you know, if I wanted to buy and so many people wanted to buy and they didn't panic. They couldn't they literally couldn't buy while all the dumping was happening, knowing that they might be able to get a little more Bitcoin ETF or a stock that they want, or whatever.

Speaker 2: 37:21

So, yeah, it reminds me of a couple of things, but first of all it reminded me of when we used to have there was like a series of times where it got volatile crypto specifically even even on a run-up or a run down, and like Coinbase went down and everyone was like kind of conspiratorial, like what the hell, why couldn't they figure out how to have enough bandwidth or be ready to kind of handle these flows? And seeing it then impact these old storied franchises for lack of a better term and have people get locked out, it's like, oh yeah, now you guys kind of know what we've weathered and it was interesting again to see that it didn't impact the centralized exchanges that we deal with. But getting back to your point of the amount of times it's opened, I also think that what happens is once you start being able to transact with Bitcoin or with cryptocurrencies and you start doing that, you just also get so uber frustrated with, like, the settlement times with these. So even if you like do a trade with Fidelity, it's not instant, you know you got to wait for it to freaking go. And then you know if you're trying to do a mutual fund or whatever, you have to wait till after it's over and it won't probably hit till the next day. So you're losing more real time than just the when the market's technically open.

Speaker 2: 38:31

So it just shows and I know I believe Saylor was saying this, which I agree with you know you need there's 20th century. You know you know things that are tied to the 20th century that just aren't relevant in, you know kind of the new age that we live in. So once you kind of flip that switch and take the pill or whatever, it's so difficult to be like dude, why isn't this subtle? Why can't I get in there? Why are they blocking this? Why can't I do what I want? And it really makes you happy to have, you know, my stuff. Whatever I need to do, I can split and tap this in and go. So that's part of that whole liberation and it really did kind of manifest in watching these trad fives kind of struggle during a dip, basically just a dip.

Speaker 1: 39:14

It looks like We'll see, yeah, I mean, there's just again, there's to put a nail in the traditional finance coffin. There's just so much rust and so much. And you just wonder, because there have been high volatility days, like the fact that they were all down, like now I could see a lot of people trying to rush in and trade and a lot of people probably rush in and check their accounts and probably don't even trade, so there's probably a huge spike in logins. But the fact that they all went down, it almost feels like those of us who who have gone down the orange rabbit hole see it and we're like, we've been calling it out and we're like, we see you, we see you, and it's almost like it's gotten worse.

Speaker 1: 39:58

The amount of the amount of very oddly timed time downage for these things, it's, it's, it's almost like they're doubling down on not being accessible or blocking from our own money and it makes you realize, like, like, if, if I was retired in the most patient person in the world, I would go through every like TOC, you know terms or terms of service and just be like, what are my rights? Like, what do I actually own? Like, is my money in the bank? Is it owned by me or is it actually? Is it like an IOU owed to me and it's owed to them? Like I know, with the FDIC, with banks they actually have to pay you back and with custodial firms they don't. And that's what actually SAB 121, a lot of what it was about to protect the consumer. But I don't think it was because they've already, as we've seen, have made exceptions for the big banks. So not only they're going to enforce it for the smaller banks and the other custody houses, but for the big banks, hey, you're fine.

Speaker 1: 41:07

So it's such a double standard and that cartel, the banking cartel, is definitely I mean pharma. There's so many other ones that need to be broken, but the banking one is the one we focus most on the show and it just needs to. It needs to stop and we need to vote with our money, you know, and obviously for your mortgages and to pay your bills and to go, you know, eat your Vienna beef, hot dogs and delicious French fries and giant Coke, like you need. You know, you don't want to spend Bitcoin on that, you want to spend cash and you want to have cash on hand. But it just seems like, progressively, the more we see the the seems like progressively, the more we see the volatility in the market, we want to run to our safe haven, which is Bitcoin, which the big traders don't see as their safe haven. So there's this kind of like duality or this paradox going on right now.

Speaker 2: 42:01

And, just to wrap it, if you look at that, it's just a complete representation of centralization and the potential of hey, let's flip the switch, this is getting out of hand and shut it down. So that was something to certainly think about when you see that happen, yeah, 100%.

Speaker 1: 42:19

All right Disco we're kind of flying through this stuff. Yeah, I like it, we are cooking. So where haven't we gone yet as far as the news and kind of oh, okay, I'll go to this one.

Speaker 2: 42:33

There's a little. There's a little something we haven't, we haven't flushed Elizabeth Warren out of our collective, you know, kind of consciousness. Her, her, new one, she, she got some other people on board with her and they sent a letter to the, you know, cfc or whatever, and it was, you know, asking for the prompt banning of betting on politics oh yeah, that was the other polymarket like, and she just can't get out of the way.

Speaker 2: 43:05

And subsequently you look at poly market and we're on like day seven of August and it's already north of a hundred million in volume.

Speaker 2: 43:13

So you're just seeing she's just now she's going to come against this and she's again using kind of the shield of oh well, this could lead to you know political violence or this or that to try to tie into these smart contracts based on you know political outcomes. So she's moving to totally ban and just immediately pull the plug on any of these predictive markets that touch anything that's you know, news related or election related, and it's I mean I guess I give her credit for consistency Like she's going to try to stop anything you know, at all times. But I really do feel like her voice is getting more squawky and more tuned out across the country and specifically within the halls of Congress where people are trying to maintain their power. So I just think it sounds irrelevant, but it was interesting that she felt the need to pen a letter and get some other folks to sign it and it screams of like a last crawl for me.

Speaker 1: 44:05

But you said that this Minnesota governor was kind of in her camp. Was he one of the ones to kind of back her letter, or he's not? No, no, no he's.

Speaker 2: 44:16

No, he didn't touch the letter, it was more, it was a usual suspects, you know. And it's interesting because then on that same side you had, you know, the sec trying to shut down Coinbase's request. I guess Coinbase had a subpoena to try to get their hands on Gensler's emails and originally it went all the way back to when he was at MIT and they wanted any email that was related to crypto and they kind of dropped that part. Now the SEC is trying to have New York just not let any of Gensler's emails become part of the case. But we'll see how that shakes out.

Speaker 2: 44:47

But looking at this, you just see, you know, I mean, if we're looking now now for everyone who's listening and not watching, we're looking at Polymarket's homepage and you know all this stuff is related to this significant change in the Trump-Harris, you know election projection. Like it's remarkable, whether you know, wherever you sit, you can't deny that, you know. Now we're looking at Trump at 51% and Harris at 47. And I don't know if we could go back 17, 18 days on polymarket and see is it going to impact our policy? Because it was a foregone conclusion two or three weeks ago that we'd be able to drill and do all these things, and now you got to kind of do this next test of are we going to get this other potential administration on board with these policies that we're advocating for?

Speaker 1: 45:42

Yeah, and just for those who don't know, most people in this show do, but Polymarket is a. For those who don't know, most people in this show do but Polymarket is a uh, it's based on Ethereum, uh, layer two, but it's a um betting site and a lot of it is politics Also, how many gold medals you want, like it's pretty much betting and everything. But a lot of people are using it, uh, as predictors for for general outcomes, and I can't. We could probably use a way back machine for polymarket, but I can tell you.

Speaker 1: 46:09

I think Trump, Biden, Trump peaked at like 70% and Biden was like 28%, and then I think Michelle Obama was 2% Like, and the funny thing is I think she's still literally on. Yeah, there she is. She's still at 1% here. So I don't know if that's like a conspiracy theory. I'm guessing she has no desire to run, but it's just funny that she's still up there. But the gap has certainly narrowed, at least from the betting on that prediction. Um and there's on the presidential election itself. On polymarket there's 539 million uh bet on this. So Nate silver, who, uh, from five 38.com, is now an advisor to this. So a lot of people are using this to look and get the temperature better than canvassing and all the other things that don't work, Because obviously if you see a number you don't recognize on your cell phone, you you know I just have a blocked and it just goes straight to voicemail, but most, some people, you're not answering that phone ever so no canvassing.

Speaker 2: 47:18

One thing that's interesting and this kind of goes back to back up, you know the, the data that Troy came up with and shared was a lot of folks, myself included, were even wondering if polymarket skewed one way because of you know, it was more crypto centric. So does that mean that it was going to have more of an inclination to support, you know, trump or conservatives? But when you see this actually now come down to narrow you know 51 to 47 or whatever it is, that kind of blows that out the window again. That kind of reinforces you know Troy's data and results there. So that's a it's kind of a validator of you know, and basically people who are going to do predictive markets and place you know wagers, so to speak. They don't really care about the politics, they want to, they want to win the money and they want to get the right results. So it kind of I in a way legitimizes it to me if that makes sense.

Speaker 1: 48:07

Yeah, because you're right, I mean, and Warren, she wants to get rid of it. Now, right, and there's probably an argument to like getting rid of, like you don't want mega whales, like, think about it. That could be. Let's say, each Republican Democrats each got a war chest of you know a billion billion dollars or whatever. They could literally place their own bets there and try and skew it. So people are like, ah, the other guy doesn't have a chance, like, think about, like, so, so I get it, like it's. That's a pretty touchy one, but, like you said, if people are betting and are trying to win on outcomes and it's not a stacked deck with whales trying to like completely put their big gold bars on the scale on one side then it's probably the best indicator that we have right now.

Speaker 2: 49:02

Yeah, yeah and, as I say, I think it validates it quite a bit. So that's all going on.

Speaker 1: 49:09

You have, we can talk a little bit, Go into the Gensler stuff a little more. So that is interesting. So Coinbase is basically saying okay, we're coming after you, now we're subpoenaing and they want. This isn't like his SEC chairman email. This is his private email to this. Is everything Correct?

Speaker 2: 49:27

Yeah, and I think in the I think they also went, and I don't know if they I think they included MIT in the subpoena originally saying you know, we want to go back to when your days there and see anything related to your stance on crypto and everything like that, and I think that part of it, maybe because of the university system or whatever kind of got like you know that's, that's too far or whatever, but they want to get you know his emails, personal and, as you know, official, to kind of be able to basically probably throw his terms right back at him or figure out what the motivation is for, you know, this very hawkish stance and choke point and everything like that.

Speaker 1: 50:05

If he didn't delete those emails, which I'm sure he will, if it comes down to it, like you know, it would be. I mean, it's so obvious how they behave with the regulation through fines and enforcement and all those.

Speaker 1: 50:25

Yeah, through, through monetary fines. I mean, the banks have been fined tens and hundreds of billions of dollars, but the crypto companies too. And you know we finally fought back. But now everybody's fighting back. I think I just saw somewhere that there's a bank that was going was it chase? It might've even been chased. They're going after like the sec and saying you're overreaching. So it's coming from all sides now.

Speaker 1: 50:51

So good for coinbase for leading the charge and you know, and uniswaps got their own. I think david hoffman even has his own lawsuit. Like good for these folks, for like turning the scales, because remember when we started this podcast and a year before that, like in the early 2020s, like like, it was like, oh, they're coming after you, and nobody did anything. And now once one person did, it was almost maybe the big, maybe the a 16 Z in the big, you know, multi-billion dollar whale money had to came in and be like what you know where they are the backers now to just like change the whole system. Maybe that's what was necessary, because Coinbase alone would be like go against the government. They could bleed us dry forever. So I don't know what that tipping point was, but now that one did it, everybody's doing it and it feels like we're on offense, which is great.

Speaker 2: 51:39

Yeah, yeah, and just you know, you look at, I shout Coinbase out for that, for sure. But you also got to imagine, like Marathon and some of these miners are really want to make sure that they're on ramp to big fortune in the future as a result of this stuff is cleared as well. So there's so many different dynamics going through that. But, yeah, I felt back in the day and we kind of talked in the beginning about how I felt a little bit like I graduated to being more of an upperclassman by being kind of cool during during kind of a shakeout Monday. It's just like we're there, we're ready and it's nice to be, you know, not on the heels and not scared and be like dude, bring it. And now we, you know, tip the scales for a lot of different races. It's pretty cool that we're at this point.

Speaker 1: 52:31

Yeah, absolutely. And the final thing that I want to share is you know we talked about Monday. We talked about, you know, the huge dip there and those who could buy more obviously, at least in this shorter than this, more medium window, have made the right call. But you know the FUD is still there. This is kind of what I've been waiting for, but just an update on Mt Gox. So you know, a third nothing's changed since last week but a third of the whatever it was 141,000 Bitcoin has been moved out. So one third has been moved out.

Speaker 1: 53:11

But I did follow those wallets. So there was about 141,000 Bitcoin. Now there's 46,000 left at Mt Gox, but I have followed those wallets and, like the big one here, here's 42,000. So it went to Mt Gox here's the 33, and then it went out to this wallet. That wallet has not moved it. So it went to Mount Gox here's the 33. And then it went out to this wallet. That wallet has not moved it.

Speaker 1: 53:30

So I assume some of these cold wallets that received tens of thousands of Bitcoin have not distributed yet. So, as far as the Mount Gox, like the FUD, even though two thirds have been distributed from Mount Gox, until that stuff gets distributed and we see the FUD there isn't over. But I mean I know I think the max one of the platforms had was like 90 days to then disseminate it. So I think someone said like by October all this will be flushed out. So even though everything's moved out of Mt Gox the two-thirds they have not been moved out of the platforms to the individuals. I don't think so. We'll see if that has an impact on price or if all the other market forces and the election and stuff counterbalances that and sways it the other way.

Speaker 1: 54:25

I know that you and I were talking about Bitcoin and Ethereum too, which is interesting because Bitcoin has been down the last couple of days, a couple of hundred million, which it sounds like a lot, but it's really. I mean, we're still up 17.1 billion and that's with grayscale losing $19 billion. So the bitcoin has is up overall, but has been down the last three days, uh, including obviously the big um fall on friday and monday. But interestingly you pointed this out ethereum uh is up, so, which is just to me. It's's just, uh, it's. It's pretty nuts that um, it's up, but you.

Speaker 2: 55:12

But it's up, but the scale of it is so significantly less. You know what I mean. So it's easier to go up if it's lower numbers. But you're right it is, it is moving that way and I think that when I looked at that last like it's mostly BlackRock, right that?

Speaker 1: 55:27

when I looked at that last, it's mostly BlackRock. Right, it is mostly BlackRock. Yeah, where are they? Franklin Fidelity, blackrock, yeah, so they're up 869 million, so they're almost at a billion now. Fidelity they're usually half on the Bitcoin side, but on the ETH side they're like more a third at 335 million, bitwise 295 million, and then the other ones are pretty teeny. So, remember, grayscale is down 2.2 billion, so that on a smaller scale, that trade is still exiting, so it's still so early for Ethereum. Here I'm I, like I said I'm on the last show. I'm not nibbling on that one. I hold plenty of bags of Ethereum, but it's interesting that Monday actually had an inflow, with BlackRock getting $50 million, which on the.

Speaker 1: 56:22

ETH side. It's way smaller scale than Bitcoin, but it's still worth bringing up.

Speaker 2: 56:29

It's still up. Only the last thing I wanted to hit, just because I think it's significant. It started today and it's on the kind of the adoption side of things, but Morgan Stanley today officially greenlit all of their I don't know if they're agents or consultants or whatever to there's 15,000 of them and they let them now offer the Bitcoin ETFs. So again, you see these things, we see the Mt Gox, we see everything like that. We see a macro crash and at the end of the show or at the end of the processing, there's still a lot of demand coming that we haven't even foreseen or really factored in. So I go back to that fricking little piece of the pie that Bitcoin can represent from sailors thing in 2045. And I don't see any, any reason not to be at least on the base slash bull side of that projection. So it's, it's just be cool, it's an interesting time, just pay attention and and really kind of enjoy it, I guess.

Speaker 1: 57:21

Yeah, it's, it's. Bull markets are awesome and they're fun and you know, with ordinals and runes, they're still. Bull markets are awesome and they're fun and you know, with ordinals and runes, they're still. You know, ordinals did go up from Monday but they're still down pretty heavy, as are uh runes overall. But you know, again, I think things have to roll into Bitcoin. I think we need more stability there. I think runes needs more uh infrastructure to be able to buy individual runes without having to buy like blocks of it. But I think everything will have its day.

Speaker 1: 57:52

Like, ordinals was huge for like two or three months at the beginning, in January and February, march of what was that? 2023 last year, and then it was dead all summer into the start of our podcast, and then it just picked up like boom and everyone was all in again and a whole new slate of people came over for me. So, um, you know, we, when it's summer, we buy it, our time and we have fun. But, uh, it's all going to come back. But I think certain things like Bitcoin going up, is going to have to fall in place before, um, ordinals and runes go up again.

Speaker 2: 58:30

All right, well, for everybody. Uh, we do this show for entertainment purposes and nothing should be construed as financial advice doing your own research, protect yourself, don't get caught up in too much FOMO, stick to your plan and, uh, enjoy yourself out there. And if you guys have any ideas or things that you know, suggestions for the program, the show topics, guests, just shoot it. We're very open to it. We'd love to, we'd love to have a two-way conversation with y'all, and we really appreciate it If you'd hit the follow or the like and share this. That'd be great as well, cause we're just trying to do this. As we said in the beginning of the show, we're trying to do this as our own thing and be independent and not kind of have to respond to anyone or or or go down any topics that aren't totally organic to us. So we really enjoy doing it. We appreciate you sticking through the show and tuning in next week.

Speaker 1: 59:15

Yep, it's always a pleasure. Take care everybody until next week.