1 00:00:05,200 --> 00:00:09,839 I'm Brady Swinson aka Citizen Bitcoin, and I'm Gary Leland, and you're listening 2 00:00:09,839 --> 00:00:14,640 to episode one thirty five or the Crypto Cousins podcast. Beat your interest in 3 00:00:14,720 --> 00:00:21,079 bitcoin and cryptocurrencies by joining Hall of Fame podcaster Gary Leland on the Crypto Cousins 4 00:00:21,120 --> 00:00:27,120 Podcast. And remember we are all cousins in the world of crypto. This 5 00:00:27,160 --> 00:00:32,119 week's price of bitcoin eight thousand, seven hundred and fourteen dollars. That's up 6 00:00:32,280 --> 00:00:36,840 eight hundred and forty dollars or twelve point two percent over the past seven days. 7 00:00:38,119 --> 00:00:41,000 Howdy, Howdy, Howdy, Howdy, Brady, Welcome to the show. 8 00:00:41,240 --> 00:00:44,200 Howdy Gary, happy to be here, excited to talk today. Yeah, 9 00:00:44,200 --> 00:00:46,359 I think I gave you a fourth howdy there. You know, usually 10 00:00:46,359 --> 00:00:50,640 only Texans get fourth howdy. So either I love you or I'm out of 11 00:00:50,640 --> 00:00:53,960 it. I'm glad to be an honor a Texan. Yeah. Yeah, 12 00:00:54,039 --> 00:00:58,320 So what's going on, Brady? You do citizen Bitcoin, You're a Swan 13 00:00:58,399 --> 00:01:00,000 Bitcoin, you do a lot of that. When we're going to get into 14 00:01:00,000 --> 00:01:03,240 all that, but first of all, I want to find out a little 15 00:01:03,240 --> 00:01:06,640 bit about you. How'd you get into bitcoin? Tell me all about it 16 00:01:06,680 --> 00:01:11,239 real quick? Yeah, man, well, I became aware of bitcoin in 17 00:01:11,239 --> 00:01:15,959 twenty seventeen. The big price pump caught my attention. That's when I really 18 00:01:15,959 --> 00:01:18,760 became aware of and started studying it. I had a coin Base account back 19 00:01:18,760 --> 00:01:23,760 in twenty fourteen, but I had trouble connecting my little regional bank up to 20 00:01:23,799 --> 00:01:26,799 coin Base. Back then, they were really only working with the bigger banks, 21 00:01:27,000 --> 00:01:30,680 and so I just kind of gave up because there was some friction there 22 00:01:30,719 --> 00:01:33,560 and I didn't really know what it was anyway. Of course, when I 23 00:01:33,560 --> 00:01:36,799 found out in twenty seventeen what was really going on and started studying it, 24 00:01:37,000 --> 00:01:38,799 I was like, oh, I think I remember this, And I went 25 00:01:38,840 --> 00:01:42,719 back in my email and I found that coin Base email in twenty fourteen, 26 00:01:42,719 --> 00:01:45,959 And of course you have that moment that a lot of bitcoiners have, like, 27 00:01:46,079 --> 00:01:48,200 damn it, I wish I would have taken it seriously then, you 28 00:01:48,200 --> 00:01:51,480 know, so I have that moment, Yeah, I think so, I 29 00:01:51,519 --> 00:01:55,640 think so. Sometimes it takes people three or four, you know times to 30 00:01:56,159 --> 00:02:00,560 come across it, and before they actually dived down the rabbit hole. So 31 00:02:00,000 --> 00:02:04,719 you know, it was a crazy time that year, big run up. 32 00:02:04,760 --> 00:02:07,599 I was trying to figure out what was going on, was listening and reading 33 00:02:07,599 --> 00:02:12,439 to all sorts of people. I was not yet, you know, convicted 34 00:02:12,479 --> 00:02:19,719 about bitcoin being really the one cryptocurrency that has a chance at becoming the global 35 00:02:19,759 --> 00:02:22,759 money. So you know, in short, I was not a bitcoin maximist 36 00:02:22,840 --> 00:02:24,319 yet. I was trying to figure out what's going on with the having or 37 00:02:24,439 --> 00:02:29,400 with the fork. I remember the big FOURK wars going on with bitcoin cash, 38 00:02:29,719 --> 00:02:32,800 and that's about when I got into it. Right before the bitcoin cash 39 00:02:32,879 --> 00:02:37,159 fork. Yeah, like August twenty seventeen was when the fork actually happened. 40 00:02:37,199 --> 00:02:39,680 The debates were going on for months even years before that. Yeah, because 41 00:02:39,680 --> 00:02:45,680 I didn't get any bitcoin from the fork, So I think I was like 42 00:02:45,960 --> 00:02:50,159 right after the date they did the snapshot maybe yeah, yeah, that's all 43 00:02:50,199 --> 00:02:52,879 I can think of. Yep, Yeah, so I got I did get 44 00:02:52,879 --> 00:02:57,199 the bitcoin cash from the fork, and I remember going there was a big 45 00:02:57,360 --> 00:03:00,719 run up on bitcoin cash. It was like night the day or two before 46 00:03:00,800 --> 00:03:07,280 November, before Thanksgiving in November, and coin base launched bitcoin cash as as 47 00:03:07,319 --> 00:03:12,280 a cryptocurrency to trade, and there were there was a bitcoin bitcoin cash pair, 48 00:03:12,520 --> 00:03:15,680 but they did not announce this they remember, Yeah, they just they 49 00:03:15,719 --> 00:03:21,919 just launched it, and bitcoin cash started going nuts versus the bitcoin price and 50 00:03:22,000 --> 00:03:24,960 in USD of course, and I had this bitcoin cash from the fork, 51 00:03:25,039 --> 00:03:28,639 so I was like fifty fifty basically at that point, I hadn't sold it 52 00:03:28,719 --> 00:03:31,400 yet, and I that night was watching this thing go up, and I 53 00:03:31,439 --> 00:03:35,159 happened to be in a group I was, you know, trying to trade 54 00:03:35,159 --> 00:03:38,599 at that point, which is silly, and like anybody who was trading at 55 00:03:38,639 --> 00:03:40,159 that point made money because everything was going up. So it's not like, 56 00:03:40,280 --> 00:03:43,719 you know, everyone thought they were awesome, an awesome trader because we were 57 00:03:43,719 --> 00:03:46,439 all making money. But then I found the found rude awakening when I got 58 00:03:46,439 --> 00:03:52,599 my tax bill the next year, right, yeah, yeah. Anyway, 59 00:03:52,639 --> 00:03:55,080 I was happening to me in this trading room on like discord or telegram or 60 00:03:55,080 --> 00:03:58,240 something, and they were talking about they were saying like, oh man, 61 00:03:58,240 --> 00:04:00,080 this red candle that's coming up is going to be epic. It's gonna be 62 00:04:00,319 --> 00:04:03,680 the biggest, you know, red candle we've seen ever in the history of 63 00:04:03,719 --> 00:04:08,439 crypto. And so, you know, I was like actually thinking in my 64 00:04:08,479 --> 00:04:12,120 head, like is this, like for real, is bitcoin cash actually going 65 00:04:12,159 --> 00:04:15,400 to overtake bitcoin? Like is this actually happening? In the narrative the bitcoin 66 00:04:15,479 --> 00:04:17,000 cash was throwing out there, and I think a lot of new bitcoiners were 67 00:04:17,000 --> 00:04:19,319 thinking that too, just kind of scared, you know, the fund they've 68 00:04:19,319 --> 00:04:23,600 been throwing out for for months. Yeah, yeah, I was concerned. 69 00:04:23,639 --> 00:04:27,120 I was actually call up messaging people I knew that had been in a long 70 00:04:27,160 --> 00:04:29,639 time. They're going, now you're just going through your first one. Calm 71 00:04:29,720 --> 00:04:31,399 down, it's gonna be okay, that's what everybody kept telling me. I 72 00:04:31,399 --> 00:04:33,199 was like, okay, yeah, I take you guys words on it. 73 00:04:33,519 --> 00:04:36,199 Yeah, I was really concerned. Oh I just gotten into it and I 74 00:04:36,240 --> 00:04:39,279 put what I felt like, there's a good amount of money into it, 75 00:04:39,319 --> 00:04:43,480 and totally yeah, yeah, yeah, So I was freaking out. Fortunately, 76 00:04:43,519 --> 00:04:46,199 I was in this room with some bitcoiners and they're like, oh man, 77 00:04:46,240 --> 00:04:47,680 it's gonna crash. It's gonna be crazy. Just watch what happens. 78 00:04:47,800 --> 00:04:51,360 And indeed it started. This big red candle started forming and I just sell 79 00:04:51,439 --> 00:04:55,399 sale cell Cell and I caught it like at a pretty high price, and 80 00:04:55,439 --> 00:04:58,680 I was really happy with how much bitcoin I had then. Fortunately, about 81 00:04:58,720 --> 00:05:02,240 that point, I really he started understanding because you know, when bitcoin kind 82 00:05:02,240 --> 00:05:05,839 of won in the FOURK wars, I was like, okay, all right, 83 00:05:05,879 --> 00:05:11,480 so this is probably the one and really started sitting it hard. It 84 00:05:11,560 --> 00:05:15,319 only took a couple of months after that point. By January of twenty eighteen, 85 00:05:15,399 --> 00:05:19,519 I was all in on bitcoin and actually started the Citizen Bitcoin podcast that 86 00:05:19,639 --> 00:05:23,519 year. Early that year, it was just me and my friend Tommy talking 87 00:05:23,560 --> 00:05:27,360 bitcoin, so it didn't have a lot of traction until I started interviewing bitcoiners 88 00:05:27,399 --> 00:05:29,519 next year. But that was a great way for us to learn, you 89 00:05:29,560 --> 00:05:32,319 know. Yeah, And that's almost my same story exactly. And according to 90 00:05:32,360 --> 00:05:35,759 American Hoddle, you know, he was on a month or two ago, 91 00:05:35,800 --> 00:05:42,319 and he told me that almost every bitcoiner has three times that they like venture 92 00:05:42,360 --> 00:05:46,759 into or our look at bitcoin, and usually it's the third one that most 93 00:05:46,800 --> 00:05:48,319 of the time people get into it and finally get into it. It's the 94 00:05:48,439 --> 00:05:53,079 third time that sounds about right. Yeah, that was right for me, 95 00:05:53,120 --> 00:05:56,399 and I got into it, I guess a little bit after you, because 96 00:05:56,439 --> 00:06:00,560 you were in the snapshot from bitcoin cash and I wasn't snapshot m so we 97 00:06:00,680 --> 00:06:04,279 I must have barely missed that. And that's when I started my podcast too, 98 00:06:04,639 --> 00:06:08,600 was on that run up, and it was a learning thing and we 99 00:06:08,600 --> 00:06:11,839 were, you know, doing a podcast to learn about bitcoin. Because you 100 00:06:11,839 --> 00:06:15,800 could ask people you wanted to know exactly exactly listening to someone, you can 101 00:06:15,839 --> 00:06:19,360 go ahead and ask the questions. Yeah, and you know, now I 102 00:06:19,399 --> 00:06:24,959 think we've become hard and bitcoiners because we've gone all the way up to nineteen 103 00:06:25,000 --> 00:06:27,600 and all the way down to thirty two. You know we're still in it. 104 00:06:27,720 --> 00:06:30,720 Yep, yeah, exactly, and we've gone through the Now we can 105 00:06:30,800 --> 00:06:33,040 claim we're we've gone through the rings. Have you have You got in at 106 00:06:33,120 --> 00:06:38,120 fifty cents and went up to nineteen, Well, it's not quite as hard 107 00:06:38,160 --> 00:06:41,879 coming down to thirty two exactly, but they went If you got in a 108 00:06:41,920 --> 00:06:45,879 fifty cents and held there, you went through several at least two. Yeah, 109 00:06:46,000 --> 00:06:47,399 major bear markets still the third one, so you went through your own 110 00:06:47,519 --> 00:06:50,399 version, you're correct, Yeah, yeah, yeah, for sure. Where'd 111 00:06:50,399 --> 00:06:55,199 you come up with a name citizen Bitcoin? Citizen Bitcoin? Well, my 112 00:06:55,399 --> 00:07:00,639 dad actually is well, he retired recently, so he was a our professional 113 00:07:00,639 --> 00:07:05,160 communications professional and he was really on the forefront of they call I can't think 114 00:07:05,160 --> 00:07:09,360 of the name of it right now, but it's basically where he pairs up 115 00:07:09,560 --> 00:07:15,000 corporations with nonprofits and you know, helps to basically both sides, like the 116 00:07:15,040 --> 00:07:19,079 corporation helps the nonprofit. The nonprofit sort of lends some of its reputation to 117 00:07:19,199 --> 00:07:23,680 the corporation and you can do you do well on both sides. And he 118 00:07:23,759 --> 00:07:29,199 had a blog called Citizen Brand and he wrote a lot about branding and communications 119 00:07:29,319 --> 00:07:32,720 and this particular kind of pr that he was sort of helping develop and it's 120 00:07:32,759 --> 00:07:35,399 now, of course, uh you know, kind of a regular part of 121 00:07:35,439 --> 00:07:39,279 a communications plan. So when I was trying to come up with the name 122 00:07:39,319 --> 00:07:44,040 for the podcast, we were you know, just brainstorming and thought of Dad's 123 00:07:44,040 --> 00:07:46,439 blog and I was like, yeah, this, you know, citizen bitcoine. 124 00:07:46,439 --> 00:07:48,000 I kind of like this, and then you know, we decided on 125 00:07:48,079 --> 00:07:54,000 it because it was just the idea of being a good citizen of bitcoin and 126 00:07:54,639 --> 00:07:58,199 learning, you know, really dedicating yourself to learning about what's going on and 127 00:07:58,279 --> 00:08:01,360 teaching others. I'd not put it in that way, being good citizen and 128 00:08:01,399 --> 00:08:03,680 bitcoin. I always thought about it just being a citizen and bitcoin. So 129 00:08:03,759 --> 00:08:07,199 maybe I don't think any proper manner or something, but that's a good name. 130 00:08:07,199 --> 00:08:11,920 I always wondering. We met when in San Francisco last not this last 131 00:08:13,480 --> 00:08:16,839 spring, but the spring before. I guess we're still in the spring kind 132 00:08:16,839 --> 00:08:22,000 of of this year at a rooftop carnivore dinner, and I had a lot 133 00:08:22,040 --> 00:08:24,560 of people in the show since then from that dinner meant you know, I 134 00:08:24,680 --> 00:08:28,959 made a lot of friends at night that some I knew already from online, 135 00:08:30,360 --> 00:08:31,559 but some I had not even met before. And you were one of the 136 00:08:31,559 --> 00:08:35,759 people I had not even met. Yeah, and the same. Yeah, 137 00:08:35,879 --> 00:08:37,360 So that was a really great event, and I was really you know, 138 00:08:37,440 --> 00:08:43,399 I felt like that trip to San Francisco exposed to me just so many new 139 00:08:43,679 --> 00:08:48,399 people. Yeah that because when I went, I didn't feel like I knew 140 00:08:48,440 --> 00:08:50,440 that many and so I was really looking forward to this year's event, to 141 00:08:50,559 --> 00:08:54,159 being exposed to a bigger group of people because I felt like I had a 142 00:08:54,200 --> 00:08:58,159 strong court Cordina, you know what I mean. Yeah, absolutely, Yeah, 143 00:08:58,200 --> 00:09:01,240 it's supposed to be twice as big as last year. It was going 144 00:09:01,320 --> 00:09:05,080 to be about four thousand bitcoiners and the year before their first it was the 145 00:09:05,120 --> 00:09:11,159 first bigcoin conference, uh in like of that the BTC media had held I 146 00:09:11,200 --> 00:09:13,440 think in four years or something, and so I think of it as the 147 00:09:13,480 --> 00:09:18,720 first. They had two thousand or so and that Yeah, that rooftop beef 148 00:09:18,759 --> 00:09:24,240 steak dinner was amazing. It was really helped kind of launch Citizen Bitcoin as 149 00:09:24,240 --> 00:09:26,039 well, because I met a lot of the other podcasters who had been listening 150 00:09:26,039 --> 00:09:30,600 to and learning from and met a lot of future guests of the show up 151 00:09:30,639 --> 00:09:35,879 there. Shout out to ck Christian Careless of BTC Media. He wrote to 152 00:09:35,879 --> 00:09:37,440 me and said, hey, man, you gotta buy a ticket to this. 153 00:09:37,480 --> 00:09:41,799 You gotta be there. You know, I had just contacted Pierre because 154 00:09:43,399 --> 00:09:46,919 when I guess six months before we had the first bit block boom and Pierre 155 00:09:48,000 --> 00:09:50,440 had and Michael had a dinner Carnivoard dinner, and I knew I was going 156 00:09:50,480 --> 00:09:52,480 to this, and I knew Pierre was. I said, hey, Pierre, 157 00:09:52,919 --> 00:09:56,080 we should do at Carnivoard dinner out there because that was so good. 158 00:09:56,399 --> 00:09:58,879 Yeah, and he goes, oh, there's already one happening, and as 159 00:10:00,159 --> 00:10:03,000 oh, send me to scoop. Yeah, and he sent me the link. 160 00:10:03,159 --> 00:10:05,080 Luckily I got it in time to get on there, or I wouldn't 161 00:10:05,120 --> 00:10:09,559 have known about it at all if I hadn't been interested in putting one together 162 00:10:09,600 --> 00:10:11,080 because I thought we needed Well, you were in that photo. They took 163 00:10:11,080 --> 00:10:15,440 a photo of all the podcasters who were there. Yeah, that was a 164 00:10:15,519 --> 00:10:16,919 great line up there. I mean that was a great picture to be in. 165 00:10:18,000 --> 00:10:20,759 That was a great lineup of podcasters. Absolutely, Yeah, Marty, 166 00:10:22,000 --> 00:10:26,720 Marty and Matt and Peter and Stephen. I was there and you and me. 167 00:10:26,519 --> 00:10:28,919 I think that was the group. I was definitely honored to be in 168 00:10:28,960 --> 00:10:31,960 that group. I was just a little, a tiny little podcaster at that 169 00:10:33,000 --> 00:10:35,320 point. Yeah. Yeah, And then you told me about Guy and he's 170 00:10:35,360 --> 00:10:37,960 become a good friend of mine one and I haven't met him yet, but 171 00:10:39,000 --> 00:10:41,879 he's coming to Oh I met him I share a bit black boom out And 172 00:10:41,039 --> 00:10:43,879 I had said, yeah, I met him yet, and yeah, speaking 173 00:10:43,879 --> 00:10:46,399 to share a bit black mood. So yeah, and you're the one who 174 00:10:46,519 --> 00:10:50,639 told me about Guy. I didn't know his show. Yeah, so you 175 00:10:50,639 --> 00:10:52,799 said, I said, what podcast do you listened to? And you told 176 00:10:52,840 --> 00:10:56,200 me. I said, okay, well subscribe right now. And I've been 177 00:10:56,240 --> 00:10:58,799 listening to it ever since. Crypt Economy podcast A guy is a good friend 178 00:10:58,799 --> 00:11:01,360 of uh. And I say this a lot, but he he was my 179 00:11:01,399 --> 00:11:03,759 first bitcoin friend, the first bitcoiner that I really got to know kind of 180 00:11:03,759 --> 00:11:09,039 on a personal level chatting online. And then he stayed at an airbnb with 181 00:11:09,080 --> 00:11:13,200 me in at Bitcoin twenty nineteen at that conference we're talking about. So, 182 00:11:13,320 --> 00:11:16,799 yeah, he stayed with me and got to know each other well. And 183 00:11:16,039 --> 00:11:20,320 his podcast is just a fantastic service to the to bitcoin. He reads. 184 00:11:20,600 --> 00:11:22,639 If you're not listening to it, you got to check it out. He 185 00:11:22,679 --> 00:11:26,679 reads the best bitcoin articles. It's kind of like an audible for bitcoin. 186 00:11:26,960 --> 00:11:30,320 Yeah, he does a much better job of reading than I do, and 187 00:11:30,440 --> 00:11:33,159 I read. I love his voice. He's a great reader. And then 188 00:11:33,200 --> 00:11:37,200 he has he goes on rants afterwards, and those are always epic. He's 189 00:11:37,200 --> 00:11:39,480 he just knows what he's talking about. He's been in bitcoin for a long 190 00:11:39,480 --> 00:11:41,960 time. You know. I think it was three weeks ago. Maybe I 191 00:11:41,960 --> 00:11:46,440 realized it was Friday afternoon and two and I realized I hadn't done a show 192 00:11:46,519 --> 00:11:50,120 yet for Monday. For the editors messages that can you come on the show 193 00:11:50,200 --> 00:11:54,360 right now? He's like, okay, so I don't have anything prepared. 194 00:11:54,399 --> 00:11:56,679 We're just going to sit here and talk. So he was he was a 195 00:11:56,679 --> 00:12:01,320 good sport about that. So now you're also working with U coreyip sin At 196 00:12:03,159 --> 00:12:05,360 Yep, how's that going? And tell us a little bit about Swan and 197 00:12:05,399 --> 00:12:09,519 what we're doing there. I'm a I guess an advisor for that I help 198 00:12:09,600 --> 00:12:13,080 that one I can yep, yep. Yeah, Corey Clipston. He is 199 00:12:13,440 --> 00:12:18,200 an incredible networker. Uh. He's put together an incredible network of bitcoiners he 200 00:12:18,320 --> 00:12:22,360 runs up so that I'm happy to be on with with. Oh yeah, 201 00:12:22,159 --> 00:12:26,240 yeah, wow, I'm on that list. It's an amazing roster bitcoiners that 202 00:12:26,279 --> 00:12:31,679 are advisors, and you know, we really um do take a lot of 203 00:12:31,720 --> 00:12:33,840 input from those advisors. We're writing a book for give Bitcoin, which is 204 00:12:33,879 --> 00:12:39,320 our sister product for swan Bitcoin Give bitcoin dot io, Give bitcoin dot io 205 00:12:39,480 --> 00:12:43,440 yep. It makes it easy to h to give bitcoin to friends and family 206 00:12:43,480 --> 00:12:46,480 and then we sort of part basically partner become your partner in educating them so 207 00:12:46,720 --> 00:12:50,240 um, you know, you don't have to take on all that burden and 208 00:12:50,480 --> 00:12:52,480 we'll kind of bring them along from you know, what is what really is 209 00:12:52,519 --> 00:12:56,039 money? Why bitcoin's better? You know how bitcoin works? Uh, and 210 00:12:56,080 --> 00:13:01,200 then prepare them after a year, hold the bitcoin for a year with the 211 00:13:01,200 --> 00:13:05,879 idea of when the year's over, you're you are prepared. The recipient is 212 00:13:07,399 --> 00:13:11,559 prepared sorry to take the bitcoin and hold their own keys. So um, 213 00:13:11,960 --> 00:13:13,679 and then you know, the companion. The next step is to start, 214 00:13:15,039 --> 00:13:18,720 you know, auto stacking recurring buys a bitcoin with Swan, which we think 215 00:13:18,799 --> 00:13:20,360 is the best way to buy buy bitcoin. You have to time the market 216 00:13:20,440 --> 00:13:24,039 or anything like that. Now, I had someone in contact me today, 217 00:13:24,120 --> 00:13:26,600 someone unknown for years, and they were using Swan And by the way, 218 00:13:26,600 --> 00:13:30,600 if you're not from Swan, check it out and you can use my affiliate 219 00:13:30,639 --> 00:13:35,759 link, uh Jerry Leland dot com slash swan swa in. But they were 220 00:13:35,840 --> 00:13:37,360 using it and they said, and I didn't know what they meant, so 221 00:13:37,399 --> 00:13:41,679 I was going to ask you this, and they said that they were not 222 00:13:43,039 --> 00:13:46,919 thinking that it try that it made the purchase fast enough for something. Does 223 00:13:46,960 --> 00:13:50,120 that make sense? Yeah? Yeah. So you know, we're a small 224 00:13:50,159 --> 00:13:56,399 startup and there is fraud risk with using the ACH system, the legacy banking 225 00:13:56,440 --> 00:14:01,919 system, and so we have to put a basically we hold the money for 226 00:14:01,120 --> 00:14:05,159 ten to fifteen days until that ACH hold clears. Other you know, other 227 00:14:05,200 --> 00:14:11,000 exchanges are on ramps for bitcoin who can offer it much quicker, like coin 228 00:14:11,039 --> 00:14:13,080 Base is a four day withdraw window. They take on more risk, They 229 00:14:13,080 --> 00:14:16,480 have a lot more money to take on that risk, and we have much 230 00:14:16,559 --> 00:14:20,120 kind of self ensure it because they got more money behind them, so they 231 00:14:20,159 --> 00:14:22,639 aren't going to risk the loss as much as yeah, small startups going on 232 00:14:24,159 --> 00:14:26,000 exactly. And the other big part of it is we have much lower fees 233 00:14:26,039 --> 00:14:30,720 than coin base. So part of the deal for us to have much lower 234 00:14:30,759 --> 00:14:33,679 fees is that we have to sort of mitigate that risk a little bit more. 235 00:14:35,200 --> 00:14:37,240 But we think the trade off is worth it because once you start stacking, 236 00:14:37,240 --> 00:14:39,639 once you get past that initial ten to fifteen days, you're buying your 237 00:14:39,679 --> 00:14:43,840 bitcoin every week, every month, whatever, and you don't really even notice 238 00:14:43,840 --> 00:14:46,720 it happening. We're just you know, taking the withdrawal ten days ahead of 239 00:14:46,759 --> 00:14:50,039 the purchase, and so you're you're still stacking on a regular basis once you 240 00:14:50,039 --> 00:14:52,840 get past that first one. I see what you're saying, yea, yeah, 241 00:14:52,840 --> 00:14:54,919 because he was. He was telling me that, and I told him, 242 00:14:54,919 --> 00:14:56,519 I said, I haven't heard that from anyone. I haven't heard anyone 243 00:14:56,559 --> 00:15:00,600 complining and are saying that. So I said, I'll ask, because I'm 244 00:15:00,639 --> 00:15:03,080 talking to someone today, so I figured that was the easiest way to find 245 00:15:03,080 --> 00:15:05,000 out. I'll tell him to listen to the show and he can put a 246 00:15:05,200 --> 00:15:09,279 concept. The concept on swan is that you could say, you know, 247 00:15:09,279 --> 00:15:13,879 if you said to yourself. I want to buy some bitcoin every payday and 248 00:15:13,919 --> 00:15:16,879 I get paid every other week. Let's say, and you know, I 249 00:15:16,960 --> 00:15:18,440 make a certain dollar amount and I want to put five percent of that in 250 00:15:18,480 --> 00:15:22,559 the bitcoin. You could say I want to buy this much bitcoin every other 251 00:15:22,600 --> 00:15:26,480 week, and then that process is done for you automatically, and you don't 252 00:15:26,519 --> 00:15:28,600 have to mess with it. You don't have to do anything. You don't 253 00:15:28,600 --> 00:15:33,559 have to sit here and remember or forget. You're just gonna stack SATs automatically. 254 00:15:33,840 --> 00:15:37,639 I think it's pretty much everyone accepts it that if you just dollar cost 255 00:15:37,720 --> 00:15:41,360 average buy on a regular basis, you're gonna do pretty good long term. 256 00:15:41,399 --> 00:15:45,799 I mean, instead of like trying to pick the bottom. I mean it's 257 00:15:45,840 --> 00:15:48,440 just hard to do. Yeah, it's very very hard to do, basically 258 00:15:48,480 --> 00:15:52,720 impossible in the long run to do that. You might be successful a few 259 00:15:52,720 --> 00:15:54,960 times, but yeah, in the long run, like you know, you 260 00:15:56,000 --> 00:15:58,159 just can't predict what's going on. In general, during a bull run, 261 00:15:58,200 --> 00:16:00,279 the price is going to be up. So the best thing to do is 262 00:16:00,320 --> 00:16:03,480 just buy a little bit every week, and your average cost basis is going 263 00:16:03,559 --> 00:16:07,159 to be roughly in the middle of you know, the low and the high. 264 00:16:07,200 --> 00:16:10,480 So it's a. It's a good place to be, you know. 265 00:16:10,519 --> 00:16:15,399 I found though that people I tell that they should buy a little every week 266 00:16:15,480 --> 00:16:19,320 or something start out buying a little every week that they not that a lot 267 00:16:19,320 --> 00:16:22,440 of them have taken my work for but the ones that have start buying on 268 00:16:22,879 --> 00:16:26,480 a regular basis, every week, every month, whatever. But then when 269 00:16:26,519 --> 00:16:32,519 bitcoin starts dipping, like recently it dipped down to thirty eight, yeah, 270 00:16:32,559 --> 00:16:37,279 and I was dollar cost averaging every day I was buying and I was like 271 00:16:37,320 --> 00:16:38,120 going, oh my gosh, this is great, this is great, and 272 00:16:38,159 --> 00:16:41,080 I was buying more. But I found many of them quit buying yeah, 273 00:16:41,240 --> 00:16:44,600 instead, and they're going, oh my gosh, I'm losing money. I'm 274 00:16:44,639 --> 00:16:48,799 losing money. I'm losing money instead of going oh, so they're thinking being 275 00:16:48,840 --> 00:16:52,759 a newbie instead of someone who's gone through this. And nothing phases me anymore. 276 00:16:52,039 --> 00:16:55,720 I mean, you know, and my wife's getting that way now. 277 00:16:55,759 --> 00:16:57,080 But nothing. It doesn't phase me at all. If it drops at twenty 278 00:16:57,080 --> 00:17:00,720 two, I probably am not phase but instead of when and actually, on 279 00:17:00,759 --> 00:17:03,720 some days I was buying twice as much, going well, oh I'm not 280 00:17:03,799 --> 00:17:07,640 buying that that amount. I'm buying twice as much now. Yeah. But 281 00:17:07,759 --> 00:17:11,559 they quit. So I think that these concept weren't trying to get in a 282 00:17:11,599 --> 00:17:15,480 concept between swan doing it for you and you're not looking at it all the 283 00:17:15,519 --> 00:17:18,880 time. If you're a newbie, you get to take advantage of instead of 284 00:17:18,880 --> 00:17:21,839 getting scared, and you stop, and then it goes back up like it 285 00:17:21,920 --> 00:17:23,400 has now to seventy five, and you're going, man, I can't believe 286 00:17:23,400 --> 00:17:26,519 I wouldn't buying that. I put buying that from the time it was six 287 00:17:26,640 --> 00:17:30,279 to thirty eight, right exactly, Yeah, And I take advantage of the 288 00:17:30,359 --> 00:17:33,880 low instead and forget it, and then you don't have to go through that 289 00:17:33,920 --> 00:17:37,720 psychological cycle, right, And we've seen those graphs of the cycle that you 290 00:17:37,759 --> 00:17:41,079 go through in a you know, in a bear a bowl and then a 291 00:17:41,119 --> 00:17:45,240 bear market, and then eventually you get into this despair mode where that's where 292 00:17:45,279 --> 00:17:47,799 most people sell. They sell out. They're selling all the way down, 293 00:17:47,839 --> 00:17:49,839 and when you're you've given up completely, you just like, oh you can 294 00:17:49,880 --> 00:17:53,359 pitch late and I'm out. I've lost all this money. And that's where 295 00:17:53,559 --> 00:17:57,680 the you know people, the hoddlers with conviction will scoop up those sets at 296 00:17:57,720 --> 00:18:00,960 a low price, and then it's starts going back up. Again. And 297 00:18:00,039 --> 00:18:06,200 then of course the having that decreases uh the supply uh you know, has 298 00:18:06,240 --> 00:18:07,599 an effect on that as well. If the by pressure stays the same, 299 00:18:07,640 --> 00:18:11,319 SPLAG goes cuts in half. U you know, basic economics there. And 300 00:18:11,519 --> 00:18:15,000 I wanted to go back to the idea about saving right on a regular basis. 301 00:18:15,000 --> 00:18:18,359 And Americans like aren't really used to saving anymore. There's like two ways 302 00:18:18,359 --> 00:18:22,640 that we're sort of used to saving now in this fiat age. And one 303 00:18:22,880 --> 00:18:26,480 is your four oh one K and you automatically contribute to that with every paycheck, 304 00:18:26,680 --> 00:18:29,359 sometimes your employer and matches some of that or whatever. And then you're 305 00:18:29,400 --> 00:18:32,440 you're a mortgage, you're home, so you're you know, regularly adding to 306 00:18:32,519 --> 00:18:34,440 the equity investment of your home. And so we'd like to think of SWAN 307 00:18:34,599 --> 00:18:38,599 as another kind of similar regular savings products set didn't forget it, let it 308 00:18:38,640 --> 00:18:41,920 go, you know, think about it in a long long term. You 309 00:18:41,920 --> 00:18:45,279 know, mortgage is fifteen thirty years. You know four oh one k's are 310 00:18:45,480 --> 00:18:48,599 you know similar. You know, you're contributing to it ideally your whole career. 311 00:18:48,880 --> 00:18:52,839 So just start thinking about it that way, uh, and long term, 312 00:18:52,839 --> 00:18:55,839 and we think you'll you'll do well, you know, yeah, I 313 00:18:56,559 --> 00:18:59,839 obviously agree with you, or I wouldn't be buying as I see it d 314 00:19:00,119 --> 00:19:03,799 being every time. And my wife's hoard going, man, this is crazy. 315 00:19:03,839 --> 00:19:04,559 We'll go at this thing going down. I'm going, I know, 316 00:19:04,680 --> 00:19:08,240 I'm gonna buy some more. Oh yeah, yeah. She just doesn't have 317 00:19:08,319 --> 00:19:11,359 as much, she believes because she thinks, I'm I know what I'm talking 318 00:19:11,400 --> 00:19:15,720 about. But that's the only wayson is after thirty eight years she thinks hopefully 319 00:19:15,799 --> 00:19:18,880 I'm I know what I'm talking about. I love it because my wife's in 320 00:19:18,920 --> 00:19:22,200 the same the same position now. And I told her, I was like, 321 00:19:22,240 --> 00:19:25,680 look it sounds to thirty eight hundred fourth, you know, in the 322 00:19:25,680 --> 00:19:27,720 four thousand dollars range. And I was expecting her to, you know, 323 00:19:27,799 --> 00:19:30,680 raise an eyebrow and and be a little afraid. But she just you know, 324 00:19:30,720 --> 00:19:33,519 looked at me, stee alive and was like, are we buying more? 325 00:19:34,279 --> 00:19:37,160 You know? He He's like, cheers, here, here you go. 326 00:19:37,240 --> 00:19:40,680 Here's something I always laugh. Happened now. My wife, you know, 327 00:19:40,720 --> 00:19:42,880 as just dropping the thirty eight is not that excited, but she's not 328 00:19:42,920 --> 00:19:45,359 saying anything. She well, she doesn't. I just do it and she 329 00:19:45,400 --> 00:19:48,640 goes you buy more bitcoin today, and I go, yeah, she goes 330 00:19:48,680 --> 00:19:51,160 okay, and she goes okay, okay. But you know, in San 331 00:19:51,200 --> 00:19:56,519 Francisco during bitcoin twenty nineteen, you know, it went up to like fourteen 332 00:19:56,559 --> 00:20:00,279 thousand dollars that weekend. Okay. Yeah, So we're in our hotel hell 333 00:20:00,680 --> 00:20:03,640 and uh gosh. It might have been the night of the beefsteak dinner. 334 00:20:03,680 --> 00:20:06,640 I'm not sure, but I was kind of buzzed. I don't know, 335 00:20:06,759 --> 00:20:10,039 I was kind of buzzed. And I've fallen asleep in bed. My wife 336 00:20:10,119 --> 00:20:12,759 stays up really late, you know. So I'm asleep and she's watching TV. 337 00:20:12,960 --> 00:20:15,640 And like three in the morning, my wife wakes me up and she's 338 00:20:15,640 --> 00:20:21,240 like, she goes, bitcoin's going crazy. It's like fourteen thousand. I'm 339 00:20:21,279 --> 00:20:22,519 like, oh good good. She goes, I think we should buy some 340 00:20:22,599 --> 00:20:27,359 more. What I think we should buy some more? I said, there's 341 00:20:27,400 --> 00:20:33,200 no way I'm getting up at three in the morning to buy bitcoin out of 342 00:20:33,200 --> 00:20:36,359 a deep night's sleep. It just ain't happening, Kathy. I'm fourteen thousand 343 00:20:36,400 --> 00:20:37,240 dollars too, yeah, yeah, and she goes, well, I don't 344 00:20:37,240 --> 00:20:40,279 know, it's just going up like this. I think that we should buy 345 00:20:40,279 --> 00:20:42,759 some more. It's not happening. We're not buying any more time. We'll 346 00:20:42,799 --> 00:20:45,799 look at it in the morning when we got first your minds. But it's 347 00:20:45,839 --> 00:20:48,400 kind of funny fourteen thousand, and that's where a lot of people are, 348 00:20:48,640 --> 00:20:53,000 Yeah, fourteen thousand, I want to buy eight hundred. I don't want 349 00:20:53,039 --> 00:20:56,880 any of that. You know. That's psychology. Yeah, that's the psychology 350 00:20:56,880 --> 00:21:00,279 of the market cycles. You know. That's why if you can stay calm 351 00:21:00,640 --> 00:21:04,359 on both ends of that psychological cycle, then you can make a lot of 352 00:21:04,400 --> 00:21:07,039 games if you can. If you can, that's and that's one of the 353 00:21:07,079 --> 00:21:11,599 things dollar cost averaging does for you, if you can stick with it, 354 00:21:11,640 --> 00:21:12,759 and that's what's the want of thing helps you do. It helps you stick 355 00:21:12,759 --> 00:21:15,200 with it because you're not looking at it to see if you just know what's 356 00:21:15,200 --> 00:21:18,000 happening in the background. Hey, before we go any further, I do 357 00:21:18,079 --> 00:21:22,000 want to make sure everybody listening knows about bit block Boom. If you listen 358 00:21:22,039 --> 00:21:25,559 to this show at all, you definitely know about bit block boom. But 359 00:21:25,559 --> 00:21:29,079 it's a bitcoin conference I put on in Dallas, Texas every August. This 360 00:21:29,160 --> 00:21:32,200 year we're having the third one, and this is a bitcoin conference, not 361 00:21:32,240 --> 00:21:37,000 an alltcoin conference or a crypto conference, or a blockchain conference. This is 362 00:21:37,039 --> 00:21:41,000 a bitcoin maximalist conference. If you get caught talking about all cooins, you'll 363 00:21:41,000 --> 00:21:42,920 be asked the laite. You'll be asked to stop the first time. The 364 00:21:44,039 --> 00:21:45,599 second time, you'll be taken out in the hallway. Third time, you'll 365 00:21:45,640 --> 00:21:49,680 be asked to leave the building. So this is a bitcoin a strict bitcoin 366 00:21:49,839 --> 00:21:53,440 conference. It's in August, I said, in Texas. So go to 367 00:21:53,440 --> 00:21:56,680 bitblock boom dot com and check it out. And if you use the code 368 00:21:56,680 --> 00:22:02,160 word cousins c o USI n S when you purchase your ticket, you'll save 369 00:22:02,279 --> 00:22:03,839 thirty percent off the price of your tickets. So I hope we get to 370 00:22:03,839 --> 00:22:07,880 see you there. And Brady, I'm feeling pretty comfortable now. I was 371 00:22:07,000 --> 00:22:11,240 kind of like for about a three week period there, you know, I 372 00:22:11,319 --> 00:22:14,039 was never canceling, but I started to get kind of concerns, you know 373 00:22:14,079 --> 00:22:15,640 a little bit. But now I'm starting feeling pretty confidence. They started the 374 00:22:15,759 --> 00:22:19,720 releasing step today, lifting bands the day in Texas. By the time August 375 00:22:19,799 --> 00:22:23,200 comes, it's gonna be one hundred and ten. Yeah, so in Texas. 376 00:22:23,440 --> 00:22:27,039 So if the heat affects it at all, that's gonna help kill it 377 00:22:27,119 --> 00:22:30,680 off. And I think, you know, we're gonna be like really the 378 00:22:30,720 --> 00:22:37,160 first real the first well, there aren't that many real bitcoin conferences. There's 379 00:22:37,160 --> 00:22:40,079 a lot of crypto conferences, but I mean that made bitcoin conferences. But 380 00:22:40,119 --> 00:22:42,400 we're going to actually be one of the first conferences of the year. You 381 00:22:42,440 --> 00:22:47,200 know, Tone got his end in Vegas right before. That was as late 382 00:22:47,240 --> 00:22:48,880 as you could probably do it. You know, if you'd have been two 383 00:22:48,920 --> 00:22:52,240 weeks later, it probably wouldn't have happen. And now it's going to come 384 00:22:52,240 --> 00:22:56,200 to ours. So I think we're gonna have a heck of a conference coming 385 00:22:56,279 --> 00:23:00,440 up. I'm looking forward to it. Yeah, so I'm really excited about 386 00:23:00,480 --> 00:23:03,759 having it. Um, we're ordering we're kind of like getting prepared for Corona. 387 00:23:03,799 --> 00:23:10,079 We're ordering hand sanitizer stations, you know, put everywhere and trying to 388 00:23:10,079 --> 00:23:12,279 find a sponsor to pay for those. And we're thinking about giving out new 389 00:23:12,279 --> 00:23:18,079 Goodea bags, even masks, you know, bitcoin masks that people can wear 390 00:23:18,480 --> 00:23:21,680 if they're worried about it, you know, they can be at the very 391 00:23:21,759 --> 00:23:26,119 least, that'll be an awesome momentum half from this year. Those last night 392 00:23:26,200 --> 00:23:30,519 and I figured, you know, there's some people well like um Rock Star 393 00:23:30,759 --> 00:23:37,079 Developer and NBK who are speaking who don't like aborone knowing who they are in 394 00:23:37,160 --> 00:23:41,400 Bitcoin, Tina, so they could always wear their masks because I was trying 395 00:23:41,400 --> 00:23:45,079 to figure out how to handle them for the live stream, right, yeah, 396 00:23:45,079 --> 00:23:47,119 because we're doing a free to live streaming, so I was trying to 397 00:23:47,119 --> 00:23:48,119 figure out how to handle them so that would be a way. So we 398 00:23:48,240 --> 00:23:52,759 got a lot of new things we're trying to work on. It'll be different 399 00:23:52,799 --> 00:23:56,400 than before to handle the Corona virus situation. Well, I'm glad it's still 400 00:23:56,519 --> 00:24:02,240 on and I am absolutely you know, absolutely hope that things will be calmed 401 00:24:02,240 --> 00:24:04,119 down by then and that we can have the conference. And it's been a 402 00:24:04,599 --> 00:24:07,200 it's been a crazy time. It's been a strange time. Man. Well 403 00:24:07,200 --> 00:24:10,720 I think, I said, I think down here, I know things are 404 00:24:10,720 --> 00:24:14,039 different like in New York and some cities in California, so I've been deaths 405 00:24:14,039 --> 00:24:17,000 for us, but here, I mean, you know, I know, 406 00:24:17,119 --> 00:24:19,920 like one of the bigger hospitals in Dallas, it has nine people in there 407 00:24:21,079 --> 00:24:23,720 with quartaires. I mean that's not really no, I mean that that big 408 00:24:23,720 --> 00:24:26,319 a deal. And they've had this lock down for a month. Like my 409 00:24:26,319 --> 00:24:29,880 wife didn't leave the house for three weeks, and yesterday she came up here 410 00:24:29,880 --> 00:24:32,319 at the office and went to costco. I was like, what, Yeah, 411 00:24:32,720 --> 00:24:34,480 yeah, I feel like, okay, I'm getting out. I don't 412 00:24:34,480 --> 00:24:37,119 know anyone dying down here. I mean, I know they're people dying. 413 00:24:37,440 --> 00:24:41,039 We just don't know anyone that's died or even had it, you know. 414 00:24:41,519 --> 00:24:44,640 Yeah. And the strange thing is, you know, like if you know, 415 00:24:44,680 --> 00:24:48,000 if the numbers aren't as bad as you know we're projected or whatever, 416 00:24:48,279 --> 00:24:51,720 we'll never know if the quarantine was needed, because you know, if we 417 00:24:51,759 --> 00:24:53,000 hadn't done it, who knows what it would have happened. And we're in 418 00:24:53,039 --> 00:24:56,680 this timeline now, and so we have to deal with it. I am 419 00:24:56,720 --> 00:25:00,759 a little concerned about the economic fallout, probably will longer lasting and you know, 420 00:25:00,839 --> 00:25:06,119 could be more devastating. Well, we got our PPP money yesterday, 421 00:25:06,279 --> 00:25:10,559 our day before yesterday. Yeah, so off the first we made it into 422 00:25:10,640 --> 00:25:12,880 that first batch before we get cut off. We got our PPP yesterday, 423 00:25:12,920 --> 00:25:17,640 which was really nice. I mean that's fantastic. I mean, you know, 424 00:25:17,759 --> 00:25:22,720 we got free money. Yeah, I mean, we're definitely you have 425 00:25:22,799 --> 00:25:25,960 to spend that on but you know that's the thing. You have to spend 426 00:25:26,000 --> 00:25:30,960 that on employee seventy five percent on employees and twenty five percent on rent and 427 00:25:30,079 --> 00:25:33,519 electric utilities. So that has a good of certain things, but that does 428 00:25:33,559 --> 00:25:38,160 free up other money. Yeah, and in our situation, some businesses aren't 429 00:25:38,160 --> 00:25:42,240 in this situation. Some businesses are doing fine and they have it like if 430 00:25:42,240 --> 00:25:45,720 you have a carrier service, Oh, your business is probably up and you're 431 00:25:45,759 --> 00:25:48,599 still getting paid that money. In our case, our stores have physically been 432 00:25:48,680 --> 00:25:53,480 closed, you know. I mean we've been working the employees doing piddaly tasks, 433 00:25:53,599 --> 00:25:56,920 online tasks and things like that, but no one's coming in sort of 434 00:25:56,920 --> 00:26:00,359 buying anything, right, you know, trying to keep people employed because they 435 00:26:00,400 --> 00:26:04,319 got to feed. Yeah, So I mean it's just been dwindling down the 436 00:26:04,400 --> 00:26:07,400 money. So the money is very much appreciated. Now we can keep doing 437 00:26:07,440 --> 00:26:11,680 that without it coming out of our personal pocket. So when and when are 438 00:26:11,680 --> 00:26:14,640 your stores back open or aren't they already? Well, the wallpaper stores open 439 00:26:15,160 --> 00:26:18,519 yesterday. It opened yesterday because we knew about today, and it's it can 440 00:26:18,559 --> 00:26:23,079 be open technically because it could have probably been opened before, but we didn't 441 00:26:23,079 --> 00:26:26,720 feel comfortable doing it. But now we do, and it falls under like 442 00:26:26,839 --> 00:26:32,839 home depot. We sell construction, commercial wallpaper and stuff like that. Okay, 443 00:26:32,880 --> 00:26:36,720 the sporting goods store is still closed and it can't be open according to 444 00:26:36,720 --> 00:26:38,839 the rules. And you know, I mean, who's buying softball equipment and 445 00:26:38,839 --> 00:26:41,839 baseball equipment? No one, No one's playing. Yeah, and we missed 446 00:26:41,839 --> 00:26:45,799 the college season, we missed the high school season, we missed the spring 447 00:26:47,759 --> 00:26:51,880 select season for travelball teams. So you know that business is going to suffer 448 00:26:52,119 --> 00:26:55,559 greatly. The wallpair of business has still done a good online business because people 449 00:26:55,559 --> 00:26:57,319 are stuck in our house, so they're decorating, right right, Yeah, 450 00:26:57,319 --> 00:27:00,960 it's something you can do. Yeah. I think that's actually our online business 451 00:27:02,039 --> 00:27:04,319 is the best online business has been in years for the wallpaper store. Make 452 00:27:04,359 --> 00:27:07,839 people are doing that. Yeah, been on your list for a long time. 453 00:27:07,880 --> 00:27:11,279 Might as well check it off when you're in quarantine. He can't do 454 00:27:11,279 --> 00:27:12,880 anything else, right, Hey, I want to talk to you. Last 455 00:27:14,559 --> 00:27:18,880 Saturday, I think I saw someone posting people were talking about, you know, 456 00:27:18,000 --> 00:27:22,839 uh, kind of like a declaration against Fiat in favor of bitcoin, 457 00:27:22,920 --> 00:27:26,720 And I saw someone post is there really such a thing? And then the 458 00:27:26,799 --> 00:27:33,000 next day really was Yeah. The next day, yours came out and I 459 00:27:33,000 --> 00:27:34,240 didn't know if you saw that guy asking is it really such a thing, 460 00:27:34,279 --> 00:27:37,559 and you said, well, I'm gonna make one. That's crazy. No, 461 00:27:37,680 --> 00:27:40,319 I hadn't seen that. Yeah, that was the thing that nice people 462 00:27:40,319 --> 00:27:42,359 were talking about it, and someone posted there is this a real thing? 463 00:27:42,680 --> 00:27:45,799 And then the next morning I woke up and I was tagged in something and 464 00:27:47,119 --> 00:27:51,279 you had tagged me, and yeah, you had written a bitcoin declaration. 465 00:27:51,319 --> 00:27:55,599 I wanted to talk about that a little bit. Yeah, this was a 466 00:27:55,640 --> 00:27:57,079 couple of fridays ago, I think a couple of weeks ago. Maybe it 467 00:27:57,079 --> 00:27:59,680 was last Friday. I don't know. I think it was Las Friady. 468 00:27:59,720 --> 00:28:03,920 Actually that's last weekend. Yeah, it was last weekend, right. I 469 00:28:03,960 --> 00:28:06,960 had been playing a poker game on Zoom with some of my buddies, and 470 00:28:07,519 --> 00:28:10,759 you know, we wrapped it up around midnight. You know, I still 471 00:28:10,799 --> 00:28:14,119 I was just like not ready to go to bed. Um poured myself a 472 00:28:14,119 --> 00:28:18,599 little whiskey and just you know, go hop on Twitter and I don't know 473 00:28:18,200 --> 00:28:22,240 that post and you're just so drunk you can't remember. Maybe I don't know, 474 00:28:22,319 --> 00:28:25,559 but I'm pretty sure I didn't. I hadn't I hadn't really been drinking 475 00:28:25,640 --> 00:28:29,880 much since then or before then. But yeah, I don't know where where 476 00:28:29,880 --> 00:28:33,680 the inspiration came from. I think i'd been posting a lot of historical stuff 477 00:28:33,799 --> 00:28:37,759 for Swan and on my own account, and last week I posted this quote 478 00:28:37,799 --> 00:28:44,319 from George Washington about paper money ruining the commerce in your state. It was 479 00:28:44,440 --> 00:28:47,079 he was writing a letter to I think that you know, one of the 480 00:28:47,079 --> 00:28:49,039 officials, like maybe the governor of Rhode Island, and they started had started 481 00:28:49,039 --> 00:28:53,079 printing paper money, and uh, I started doing a little research on kind 482 00:28:53,119 --> 00:28:59,079 of the positions of the Founding Fathers on central banking and gold standards if you 483 00:28:59,119 --> 00:29:04,039 have money, and I just happened upon the idea right of this declaration of 484 00:29:04,079 --> 00:29:08,359 monetary independence. And since I wrote it, I mean, it's really it's 485 00:29:08,440 --> 00:29:15,119 it's amazing the parallels between the Declaration of Independence and really what bitcoin stands for 486 00:29:15,480 --> 00:29:22,519 in a sort of moral way, and the political consequences implications of bitcoin, 487 00:29:22,799 --> 00:29:26,720 between you know, between that and the deculation of independence. I've since found 488 00:29:26,759 --> 00:29:29,599 out that there were a couple other attempts. I found somebody something a Reddit 489 00:29:29,599 --> 00:29:33,640 post, somebody sent something another like a blog post that did something similar. 490 00:29:33,279 --> 00:29:37,519 So the ideas out there, which is not surprising to me because it's just 491 00:29:37,599 --> 00:29:40,599 kind of obvious once you once it occurs to you. Well, I thought 492 00:29:40,599 --> 00:29:45,000 it was very well done and there were a lot of similarities between the Declaration 493 00:29:45,000 --> 00:29:48,759 of Independence and actually you falkeding about George Washington. What was George Washington who 494 00:29:48,759 --> 00:29:52,319 when he was talking about the continental money that the space we're using, said 495 00:29:52,359 --> 00:29:56,400 if you have a wagon full of money, it may be worth what the 496 00:29:56,400 --> 00:30:00,599 wagon it's worth. Yeah. Yeah, So I wonder if we're going to 497 00:30:00,680 --> 00:30:03,359 see that again, you know, I mean, if that's if that's our 498 00:30:03,400 --> 00:30:07,000 first sight of what's going to happen, you know, a wagon full of 499 00:30:07,039 --> 00:30:08,640 dollars or a truck full of dollars are going to be worth what the trucks 500 00:30:08,640 --> 00:30:12,799 were. Yeah, that's uh. You know, history says that that's the 501 00:30:12,839 --> 00:30:17,799 inevitable end of a fiat money. It's happened, you know, many many 502 00:30:17,839 --> 00:30:22,240 times throughout history. Once a gold standard is abandoned, the cycle that you 503 00:30:22,240 --> 00:30:26,960 get into and the idea that you should bail out businesses during a down cycle 504 00:30:27,000 --> 00:30:30,920 to try to limit the natural consequences of the you know, capitalist boom, 505 00:30:30,960 --> 00:30:33,880 you know, market boom bust cycle. There's moral hazard at that point. 506 00:30:33,920 --> 00:30:37,839 You can't not do that again. Uh, and then you have all these 507 00:30:37,920 --> 00:30:41,000 kind of zombie companies that are not profitable and shouldn't be around you. Also, 508 00:30:41,119 --> 00:30:45,119 you know, stop the sort of the clearing out of the businesses that 509 00:30:45,160 --> 00:30:49,920 creates a lot of entrepreneur entrepreneurial activity, and you destroy the signal that the 510 00:30:49,960 --> 00:30:56,480 pricing signal that you know, really should be sending information out to entrepreneurs and 511 00:30:56,599 --> 00:31:00,960 producers about, you know, what's what's in demand. But when you start 512 00:31:00,160 --> 00:31:07,400 printing money and bailing out companies in times of economic downturns, then those price 513 00:31:07,440 --> 00:31:11,240 signals can't function properly and you get all kinds of messy consequences because of it. 514 00:31:11,400 --> 00:31:15,880 It's like trying to save the buggy whip company. Yeah, hey, 515 00:31:15,920 --> 00:31:18,240 we need that buggy whip company. They employ a lot of people. We 516 00:31:18,279 --> 00:31:22,440 can't let them go under. Yeah, but everybody's driving cars. Yeah, 517 00:31:22,440 --> 00:31:26,000 but they make a great damn buggy whip tatatos around. You never know, 518 00:31:26,559 --> 00:31:33,480 you just need faster horses. So now I've also seen someone I'm not sure 519 00:31:33,480 --> 00:31:38,079 what's going on. Someone is making images because I've got I've seen an image 520 00:31:38,119 --> 00:31:41,160 on a Twitter hatter of someone's signature. I received one the other day. 521 00:31:41,200 --> 00:31:44,759 It looks like it's on a scrolled that piece of paper. Yeah, an 522 00:31:44,799 --> 00:31:48,680 image, you know, with my signature on it. So someone's doing something 523 00:31:48,079 --> 00:31:52,079 there with these images. So what's going on there? Yeah, Sweet Toshi 524 00:31:52,519 --> 00:31:56,920 still who it was? Yeah Toshi. Sweet Toshi um is a friend of 525 00:31:56,960 --> 00:32:01,039 mine on Twitter. He's a cool dude and loves to do these, you 526 00:32:01,079 --> 00:32:06,480 know, make things into gifts and images, and so he kind of jumps 527 00:32:06,519 --> 00:32:09,880 in when there's sort of this kind of I guess inspiring thread and uh, 528 00:32:10,200 --> 00:32:14,640 this kind of fit perfectly with things that he likes, something he likes to 529 00:32:14,680 --> 00:32:19,160 do. So he had this like scroll image and just started putting people's signatures 530 00:32:19,200 --> 00:32:22,799 on there and in kind of this you know, old fashioned script that sort 531 00:32:22,839 --> 00:32:25,799 of looked like the signatures on the you know, the John John Hancock signature 532 00:32:25,799 --> 00:32:30,519 on the Declaration of Independence. He I think does does a lot of fun 533 00:32:30,559 --> 00:32:34,480 things like that. So it definitely follows Sweet Doshi if you if you're not 534 00:32:34,559 --> 00:32:38,920 yet, So if he makes if he makes something like an actual declaration of 535 00:32:39,000 --> 00:32:42,599 independence, we need to get an image of that and we'll have it blown 536 00:32:42,720 --> 00:32:45,519 up and yeah, make it into a thing to put it on the wall. 537 00:32:45,559 --> 00:32:47,839 There a mit block so I mean, yeah, actually and I miss 538 00:32:47,880 --> 00:32:52,880 it. Somebody asked Luco Palletti in that thread, who is my favorite bitcoin 539 00:32:53,000 --> 00:32:57,960 artist? At Luco Poletti I think is his Twitter handle or just search Luca 540 00:32:58,000 --> 00:33:01,519 Poletti po l E t t I. And he said that he would make 541 00:33:01,559 --> 00:33:05,519 a digital version of it. You know, that's not like a just a 542 00:33:05,559 --> 00:33:07,839 medium post or a Twitter thread. So I'm sure he'll do an amazing job 543 00:33:07,880 --> 00:33:12,200 if he does get around to it. And that's at Lucho plenty hell u 544 00:33:12,319 --> 00:33:15,319 c h O p O l E t TI. Yep. Yeah, and 545 00:33:15,480 --> 00:33:19,880 he's an amazing artist. They're a lot of They're a lot of great bitcoin 546 00:33:20,000 --> 00:33:23,319 artists out there, yeah, in the sphere. Another favorite of mine is 547 00:33:23,319 --> 00:33:29,400 a Bricky Bricky on bitcoin at BVBTC I think on Twitter. He does a 548 00:33:29,440 --> 00:33:31,519 lot of great stuff and very creative dude. He was at bit block Moon 549 00:33:31,599 --> 00:33:37,880 last year. A matter of fact, he brought me a bitcoin b yeah 550 00:33:37,240 --> 00:33:42,680 foot tall that he had played out of ceramics or something. I mean, 551 00:33:42,720 --> 00:33:45,000 it's it's gold in color, but of course it's not man at of gold. 552 00:33:45,400 --> 00:33:47,799 And he carried it on his flight and he goes he kept getting like 553 00:33:47,920 --> 00:33:52,200 checked at the X ray machines for having his big old thing in there. 554 00:33:52,559 --> 00:33:54,359 Yeah, so he gave it to me and I was like caught off by 555 00:33:54,519 --> 00:33:58,319 by surprise. I was not prepared at Matt fright. I have it on 556 00:33:58,400 --> 00:34:00,519 one of my sets in the studio here, backdrop of it. That's awesome. 557 00:34:00,839 --> 00:34:04,039 Yeah, that was really that was really cool. I like him a 558 00:34:04,079 --> 00:34:07,680 lot. He's a really nice guy, great gay. Yeah. So okay, 559 00:34:07,720 --> 00:34:10,239 So is there any chance we could get you to read that for people? 560 00:34:10,400 --> 00:34:13,320 All right? Because that's a lot to read. So if you don't 561 00:34:13,320 --> 00:34:15,480 want to, I understand because that's a lot. So Ia that up to 562 00:34:15,519 --> 00:34:19,559 you. It's four minute about a four minute read. Um, I'd be 563 00:34:19,599 --> 00:34:22,360 happy to read it, though I know I know Guy Swan, the voice 564 00:34:22,360 --> 00:34:25,280 of Bitcoin, will be reading it so at some point in the nearest future. 565 00:34:25,639 --> 00:34:28,760 So maybe we just let him do it. And I don't know. 566 00:34:29,239 --> 00:34:31,199 I ass up to you, asce p to you. It's just a trait 567 00:34:31,280 --> 00:34:35,199 here for the cousin. Yeah, you want to read it now, if 568 00:34:35,239 --> 00:34:37,079 you just do it, let's do it cool, let's do it all right. 569 00:34:37,280 --> 00:34:45,039 A Declaration of Monetary Independence in unanimous declaration of the decentralized nodes of Bitcoin. 570 00:34:45,280 --> 00:34:47,920 When in the course of human events it becomes necessary for people to dissolve 571 00:34:47,960 --> 00:34:52,280 the monetary bands which have connected them with another, and to assume the separate 572 00:34:52,280 --> 00:34:57,519 and equal station to which the laws of natural money and of human nature entitle 573 00:34:57,599 --> 00:35:01,719 them. A decent respect to the opinions of humankind requires that they should declare 574 00:35:01,920 --> 00:35:07,760 the causes which impel them to separation. We hoddle these truths to be self 575 00:35:07,800 --> 00:35:13,119 evident, that all humans deserve certain unalienable rights, that among these are life, 576 00:35:13,239 --> 00:35:15,679 liberty, and property, and that to secure these rights, Bitcoin is 577 00:35:15,719 --> 00:35:21,599 instituted among humans, deriving powers from the consent of the node operators. That 578 00:35:21,639 --> 00:35:25,039 whenever any form of the monetary policy becomes destructive to these ends, it is 579 00:35:25,079 --> 00:35:29,760 the right of the node operators to alter or abolish it, and to institute 580 00:35:29,800 --> 00:35:35,679 a new monetary policy, laying its foundation on such principles and organizing its powers 581 00:35:35,679 --> 00:35:39,559 in such form as to them shall seem most likely to affect their safety and 582 00:35:39,639 --> 00:35:45,760 property. Prudence indeed will dictate that monetary policy long established should not be changed 583 00:35:45,800 --> 00:35:50,800 for light and transient causes, and accordingly, all experience hath shown that people 584 00:35:50,880 --> 00:35:54,719 are more disposed to suffer while evils are sufferable, than to right themselves by 585 00:35:54,719 --> 00:35:59,639 abolishing the forms to which they are accustomed. But when a long train of 586 00:35:59,639 --> 00:36:06,079 abuse and usurpations, pursuing invariably the same object, evinces a design to reduce 587 00:36:06,239 --> 00:36:09,000 them under absolute despotism, it is their right, it is their duty, 588 00:36:09,239 --> 00:36:15,000 to throw off such monetary policy, and to provide new guards for their future 589 00:36:15,199 --> 00:36:19,679 security. Such has been the patient sufferance of these humans, and such is 590 00:36:19,719 --> 00:36:24,199 now the necessity which constrains them to alter their former systems of monetary policy. 591 00:36:24,519 --> 00:36:29,320 The history of the present monetary policy of the United States is a history of 592 00:36:29,360 --> 00:36:34,800 repeated injuries and usurpations, all having in direct object the establishment of an absolute 593 00:36:34,840 --> 00:36:38,400 tyranny over the money and of these humans. To prove this, let facts 594 00:36:38,440 --> 00:36:43,440 be submitted to a candid world. They have refused a sent to monetary self 595 00:36:43,480 --> 00:36:46,440 sovereignty, the most wholesome and necessary for the public good. They have forbidden 596 00:36:46,519 --> 00:36:51,679 people to pass a monetary policy for the accommodation of the world of free people, 597 00:36:51,920 --> 00:36:54,880 unless those people would relinquish the right of the use of natural money, 598 00:36:55,039 --> 00:37:00,159 a right inestimable to them, and formidable to tyrants only. They have enabled 599 00:37:00,320 --> 00:37:06,480 private banking institutions at places unusual, uncomfortable, and distant from the depository of 600 00:37:06,519 --> 00:37:09,400 their private ledger, for the sole purpose of fatiguing them into compliance with their 601 00:37:09,440 --> 00:37:15,400 measures. They have debased bearer assets repeatedly for opposing with firmness their invasions on 602 00:37:15,440 --> 00:37:19,880 the rights of the people to natural money. They have refused for a long 603 00:37:19,960 --> 00:37:25,000 time after such debasements, whereby the monetary policy incapable of annihilation, to return 604 00:37:25,039 --> 00:37:29,639 to the people at large their exercise. The people of the world remaining in 605 00:37:29,679 --> 00:37:34,519 the meantime exposed to all the dangers of invasion from without and convulsions within. 606 00:37:34,800 --> 00:37:38,920 They have obstructed access to natural money by refusing the abdication of control of the 607 00:37:38,920 --> 00:37:44,360 money they have kept among us through tyranny of the monetary policy, even in 608 00:37:44,400 --> 00:37:47,199 times of peace, excessive standing armies without the consent of the people. They 609 00:37:47,199 --> 00:37:52,280 have combined with others to subject us to a jurisdiction foreign to the to our 610 00:37:52,320 --> 00:37:58,159 constitution and unacknowledged by our laws, giving assent to their acts of pretended legislation, 611 00:37:58,400 --> 00:38:02,000 for imposing surveillance among us through among other methods, the use of their 612 00:38:02,079 --> 00:38:07,519 money for imposing inflation on us without consent, for abolishing the free system of 613 00:38:07,519 --> 00:38:12,039 money, establishing therein an arbitrary monetary policy, and enlarging its jurisdiction, so 614 00:38:12,079 --> 00:38:15,559 as to render it at once an example and fit instrument, for introducing the 615 00:38:15,599 --> 00:38:20,480 same absolute rule into the rest of the world. For altering fundamentally the form 616 00:38:20,519 --> 00:38:24,280 of our money. They have abdicated monetary governance here by declaring the money to 617 00:38:24,360 --> 00:38:28,880 be in their sole protection, and waging monetary war against us. They are 618 00:38:28,920 --> 00:38:32,840 at this time printing large amounts of this fiat money to complete the works of 619 00:38:32,920 --> 00:38:37,000 death, desolation, and tyranny already begun, with circumstances of cruelty and perfidy 620 00:38:37,079 --> 00:38:42,440 scarcely paralleled even in the most barbarous ages. And in every stage we have 621 00:38:42,639 --> 00:38:46,119 petitioned for redress in the most humble terms. Our repeated petitions have been answered 622 00:38:46,199 --> 00:38:51,440 only by repeated injury. A chairman and government, whose character is thus marked 623 00:38:51,440 --> 00:38:54,119 by every act which may define a tyrant, is unfit to be the ruler 624 00:38:54,119 --> 00:38:58,440 of a free money, nor should money be controlled by a central authority. 625 00:38:58,760 --> 00:39:02,079 We, therefore, the representatives of the nodes of Bitcoin in Nakamotove Consensus, 626 00:39:02,079 --> 00:39:06,760 assembled together, appealing to the people of the world for the rectitude of our 627 00:39:06,800 --> 00:39:09,199 intentions, do, in the name and by authority of the Node operators, 628 00:39:09,360 --> 00:39:14,559 solemnly published and declare that we and of right ought to be bearers of a 629 00:39:14,599 --> 00:39:17,360 self sovereign money, that we are absolved from the all allegiance to the monetary 630 00:39:17,360 --> 00:39:22,480 policy of the United States, and that all monetary connection between US and the 631 00:39:22,519 --> 00:39:25,840 Federal Reserve Bank and the global banking Cartel is and ought to be totally dissolved. 632 00:39:27,159 --> 00:39:30,920 And that as hoddlers of self sovereign money, we have full power to 633 00:39:30,000 --> 00:39:35,679 establish commerce and do all other acts and things which self sovereign economic actors may 634 00:39:35,840 --> 00:39:39,599 of right to do. And for support of this declaration, with firm reliance 635 00:39:39,639 --> 00:39:45,199 on the protection of mathematics and cryptography, we mutually pledge to each other our 636 00:39:45,239 --> 00:39:47,280 lives, our fortunes, and our sacred honor. Well, I think that's 637 00:39:47,320 --> 00:39:51,519 pretty good for a one time straight read. You know, guy wouldn't even 638 00:39:51,559 --> 00:39:53,960 do a straight read like that. He would let's turn it down and benet 639 00:39:54,039 --> 00:39:59,400 in parts. Yeah, inestimable. That's a hard one. Yeah, thanks, 640 00:39:59,400 --> 00:40:00,880 Because I was reading it to my wife the other day when I said, 641 00:40:00,920 --> 00:40:02,880 oh, I listen to this thing this guy wrote, and I was 642 00:40:02,920 --> 00:40:05,920 reading, I was like, wow, that's a whole lot to read there. 643 00:40:05,920 --> 00:40:07,719 So that's why I was like saying, if you don't want to, 644 00:40:07,760 --> 00:40:09,599 I'm not like trying to shrink. No. Something you read there I thought 645 00:40:09,719 --> 00:40:15,719 was pretty interesting though, as you said, life liberty and property, and 646 00:40:15,840 --> 00:40:19,920 now we know that term is life, liberty and the pursuit of happiness. 647 00:40:20,239 --> 00:40:23,800 But I think it was originally written life Liberty and property when it was originally 648 00:40:23,880 --> 00:40:29,199 written, and they changed it up to life liberty, and I think Thomas 649 00:40:29,280 --> 00:40:32,159 Jefferson wanted it to be property exactly. Yeah, Thomas Jefferson originally wrote it 650 00:40:32,159 --> 00:40:36,760 with life, Liberty and Property and it was changed to the pursuit of happiness. 651 00:40:36,960 --> 00:40:38,639 And I liked the original a little bit better. I think it's, 652 00:40:38,920 --> 00:40:42,360 you know, a little bit more clear. It's an you know, more 653 00:40:42,400 --> 00:40:45,639 objective term than the idea of the pursuit of happiness, which is very subjective. 654 00:40:46,519 --> 00:40:50,159 So I yeah, I like that a little better. And I think 655 00:40:50,199 --> 00:40:53,320 life and liberty sort of covers the idea of the pursuit of happiness so too. 656 00:40:53,880 --> 00:40:57,320 I think they just wanted to get the property out of there. Yeah, 657 00:40:57,440 --> 00:41:00,519 probably that was about. So I think that was really good. I 658 00:41:00,559 --> 00:41:02,679 appreciate your reading that, and I'm sure guys will be better. But then 659 00:41:02,719 --> 00:41:07,079 again, though he's gonna like, he's not gonna get at all one read 660 00:41:07,159 --> 00:41:09,000 like that. I guarantee you that's true. I mean it is. It 661 00:41:09,079 --> 00:41:12,840 is pretty dramatic, right, I mean, but the Declaration of Independence was 662 00:41:12,920 --> 00:41:15,599 dramatic, and it was a dramatic time. And I can see somebody listening 663 00:41:15,639 --> 00:41:19,960 to me read that just be like, oh man, that's ridiculous. That's 664 00:41:20,000 --> 00:41:23,920 over the top. And this is you know, comparing the monetary policy that 665 00:41:23,920 --> 00:41:28,239 we have today or the money that we have today to the King of England 666 00:41:28,480 --> 00:41:32,599 and its policies against the United States. It's ridiculous. But I disagree. 667 00:41:32,760 --> 00:41:37,960 I think that the harms that Fiat money have you inflicted upon us as people 668 00:41:38,280 --> 00:41:43,719 are you know, subtle but profound and pervasive, and I think that it 669 00:41:43,800 --> 00:41:45,480 needs to be declared. Yeah, I agree with But yeah, I thought 670 00:41:45,480 --> 00:41:47,519 it was very exciting when I first saw it. Actually, you know, 671 00:41:47,559 --> 00:41:52,079 like I said, I was like, wow, this guy answered the guy's 672 00:41:52,159 --> 00:41:54,920 question last night. It's just weird having synchronicity. Man, it happens all 673 00:41:54,920 --> 00:41:58,000 the time in big Quinn. I see it all the time. It happens 674 00:41:58,039 --> 00:42:01,239 all the time. One thing that I've been about a lot lately is the 675 00:42:01,320 --> 00:42:06,079 consequences of printing all this money right now. You know, I think that 676 00:42:06,079 --> 00:42:09,280 this would this would have happened eventually, right Maybe I was thinking that, 677 00:42:09,360 --> 00:42:13,599 you know, we'd go through at least one more cycle where the Federal Reserve 678 00:42:13,639 --> 00:42:16,920 would be able to kind of paper over another you know, inevitable downturn in 679 00:42:16,960 --> 00:42:22,360 the economy. But I think that this black swan, to refer back to 680 00:42:22,440 --> 00:42:23,920 to lev that were talking about before we started recording, this seems to leave 681 00:42:24,079 --> 00:42:30,280 this idea of a black swan, which is an unpredictable but extremely impactful event. 682 00:42:30,920 --> 00:42:35,039 And in hindsight, it should have been saying It's right, it's obvious 683 00:42:35,039 --> 00:42:38,440 in hindsight, but it's unpredictable before. Really it seems obvious in hindsight, 684 00:42:38,480 --> 00:42:43,960 but that's that's a narrative fallacy that that humans often often do anyway, So, 685 00:42:44,079 --> 00:42:45,920 yeah, black swan can be positive or negative. I think this is 686 00:42:45,920 --> 00:42:49,519 a negative black swan. I think Bitcoin is a very positive black swan, 687 00:42:49,559 --> 00:42:52,880 and that is actually one of the inspirations for the name of our company, 688 00:42:52,000 --> 00:42:57,960 Swan bitcoin. But I think that this I was wondering because because I really 689 00:42:58,000 --> 00:43:00,880 never thought of bitcoin as a black swan event. Yeah, but yeah, 690 00:43:00,920 --> 00:43:04,400 you're right, And so now it all comes together to me. Yeah I'm 691 00:43:04,440 --> 00:43:07,360 involved with and I didn't even know that, but yeah, yeah, sense 692 00:43:07,440 --> 00:43:12,800 now yeah, yeah, So I think that we've really pulled the future forward 693 00:43:13,039 --> 00:43:16,960 with this, you know, black swan events, coronavirus. It's requiring us 694 00:43:17,159 --> 00:43:22,679 while requiring the printing of all this money based on the like I said, 695 00:43:22,679 --> 00:43:27,880 the moral hazard of this Fiat Kansian monetary policy. You can't once you do 696 00:43:28,000 --> 00:43:30,719 it once, you can't not do it again. That's why fiat money is 697 00:43:30,800 --> 00:43:37,360 ending inevitably in hyper inflation. So we might be at this very moment living 698 00:43:37,480 --> 00:43:43,800 through the beginning of hyper big colinization, being perfectly scarce asset and monetary good 699 00:43:44,360 --> 00:43:47,079 that's available in you know, as an alternative to dollars. Right now. 700 00:43:47,320 --> 00:43:52,559 You know I've seen before and I think and then home in this exactly, 701 00:43:52,559 --> 00:43:58,280 But the average lifespan of a fiat money is like forty five years or something. 702 00:43:58,679 --> 00:44:00,800 It's really short, something that came out of the odd in like seventy 703 00:44:00,840 --> 00:44:07,159 three yep. So actually we're kind of overdue. We've gone past the average 704 00:44:07,199 --> 00:44:13,360 here, so it really wouldn't be that unheard of for it to be yep. 705 00:44:13,760 --> 00:44:16,119 And that's because the dollars the world reserve currency, so it's got a 706 00:44:16,199 --> 00:44:21,760 much larger network effect than you know, like a smaller countries fiat currency. 707 00:44:21,800 --> 00:44:24,719 And we see we see fio currencies in Venezuela and Argentina, Rwanda. I 708 00:44:24,719 --> 00:44:30,239 think it was Zimbabwe that Zimbabwe, Yeah, right, that's right. I 709 00:44:30,239 --> 00:44:31,920 think that's the country I was thinking of. Um that have you know, 710 00:44:32,159 --> 00:44:36,880 gone through cycles ten, fifteen, twenty year cycles. Argentina is just you 711 00:44:36,920 --> 00:44:42,400 know famous for it, and so Argentinians just instinctively now understand the value of 712 00:44:42,440 --> 00:44:47,400 bitcoin, whereas you know, Americans who have had the privilege of the being 713 00:44:47,440 --> 00:44:52,480 you know, using as our native currency, the world reserve currency. It 714 00:44:52,519 --> 00:44:54,519 seems you know, pretty stable, um, and it has been for several 715 00:44:54,519 --> 00:44:58,719 generations. Uh, you know it became the world reserve currency with Breton Woods 716 00:44:58,719 --> 00:45:00,880 in nineteen forty four. Seen seventy one was when we went off the gold 717 00:45:00,880 --> 00:45:04,519 standards. So you know, I knew it was when I was in high 718 00:45:04,559 --> 00:45:07,320 school, that's all I knew. Yep, seventy one and seventy one. 719 00:45:07,400 --> 00:45:08,639 Nixon took us up there. I was thinking seventy three, I should have 720 00:45:08,639 --> 00:45:12,440 known that c R I graduated, so I knew it when Yeah, yeah, 721 00:45:12,880 --> 00:45:15,920 yeah, so yeah, it's been many generations. That's why it's hard 722 00:45:15,920 --> 00:45:19,639 for us to really understand the need for something like bitcoin. Speaking of Argentina, 723 00:45:19,679 --> 00:45:23,280 I'm looking right now at coin Telegraph and they have an article today demand 724 00:45:23,360 --> 00:45:28,480 for bitcoin surges and Argentina. Yeah, there you go, boom in the 725 00:45:29,000 --> 00:45:32,880 article from twelve hours ago. Yep, there you go. So yeah, 726 00:45:32,920 --> 00:45:36,920 so that's a great point and a great way to end. When where can 727 00:45:36,960 --> 00:45:39,960 people find you at? Follow you or whatever? What? How should people 728 00:45:40,159 --> 00:45:43,320 they want to keep up with what you're doing to keep up with you? 729 00:45:43,639 --> 00:45:46,440 Yeah, so here's the list. I'm at citizen Bitcoin on Twitter. Swan 730 00:45:46,599 --> 00:45:51,840 is at swan bitcoin on Twitter. We also have at give Bitcoin. I 731 00:45:51,840 --> 00:45:55,280 have been doing the Citizen Bitcoin podcast at citizen bitcoin dot world for two years 732 00:45:55,320 --> 00:45:59,960 now. For a little over a year, been interviewing bitcoiners. There's sixty 733 00:46:00,079 --> 00:46:02,960 your seventy interviews in there now, lots of great stuff to go through. 734 00:46:04,000 --> 00:46:07,599 If you haven't yet an archive, scroll through it and find some names that 735 00:46:07,880 --> 00:46:10,639 you'd like to hear more from and I think we've done some really good stuff 736 00:46:10,639 --> 00:46:15,840 there. We're also doing a podcast for SWAN. It's a live broadcast on 737 00:46:15,360 --> 00:46:21,719 Twitter every Wednesday in the middle of the day and then we do an audio 738 00:46:21,800 --> 00:46:24,440 archive at swan signal podcast dot com. So there excellent, And I just 739 00:46:24,440 --> 00:46:29,840 want to let you know it's official. You are a crypto cousin. Thanks 740 00:46:29,840 --> 00:46:31,760 man, that'd be part of the family, part of the family here, 741 00:46:31,760 --> 00:46:35,960 And I appreciate you coming on the show and I appreciate you taking time to 742 00:46:36,000 --> 00:46:37,760 read that because that was a long read. It was, but that was 743 00:46:37,800 --> 00:46:40,119 fun. I think you did a great job and thanks for writing that. 744 00:46:40,239 --> 00:46:44,079 And I look forward to see ook forward to see how that evolves over the 745 00:46:44,159 --> 00:46:46,519 net and what happens with that. Yeah, how that goes for it? 746 00:46:46,559 --> 00:46:50,760 And I guess if I don't see, which I doubt I will see anywhere. 747 00:46:50,800 --> 00:46:52,480 Sin it's nothing schedule everywhere, you know. I told my wife this 748 00:46:52,639 --> 00:46:55,960 spring, I'm gonna do more traveling than I've ever done. I was going 749 00:46:57,000 --> 00:47:00,360 to be at like between tones event and a consensus. I was going to 750 00:47:00,440 --> 00:47:05,719 be at like six or seven events or spring and one. And this is 751 00:47:05,719 --> 00:47:07,320 probably the least I've ever traveled, and we didn't even go on a vacation. 752 00:47:07,360 --> 00:47:12,159 This is definitely at least there her travel. So I'll probably see you 753 00:47:12,199 --> 00:47:15,599 then at bitflock boom be the first place I see you at again. And 754 00:47:15,679 --> 00:47:19,079 thanks for coming on the show absolutely, Gay really appreciate having me on. 755 00:47:20,039 --> 00:47:22,760 I hope you've enjoyed today's show, and I want to give a big thank 756 00:47:22,800 --> 00:47:25,360 you to all my cousins out there for listening and subscribe. If you haven't 757 00:47:25,360 --> 00:47:30,119 subscribed yet, just go to cryptocusins dot com and you'll see the links for 758 00:47:30,159 --> 00:47:32,079 all the places you can subscribe. You want to take us a second, 759 00:47:32,159 --> 00:47:36,480 leave a great review or four star rating even while you're at it, I 760 00:47:36,519 --> 00:47:40,440 also recommend you go to crypto podcast dot com and see all my other podcasts 761 00:47:40,440 --> 00:47:45,599 and websites for the world of bitcoin. There's a lot of no look at. 762 00:47:45,320 --> 00:47:50,159 Thanks for listening to the Crypto Cousins podcast. Please share the show with 763 00:47:50,199 --> 00:47:54,360 your friends. They can subscribe by going to cryptocusins dot com slash subscribe, 764 00:47:54,440 --> 00:47:58,719 And if you want to know more about Gary, just go to Gary Leland 765 00:47:58,719 --> 00:48:02,159 dot com. Make sure and join Gary in all the Cryptocusins. Every week 766 00:48:02,280 --> 00:48:08,440 for a new episode of the Crypto Cousins podcast. The Crypto Cousins podcast and 767 00:48:08,480 --> 00:48:14,960 the information included in the podcast are not intended as investment advice. Investing in 768 00:48:15,000 --> 00:48:19,159 any cryptocurrency is risky and you should never invest more than you can afford to 769 00:48:19,199 --> 00:48:24,199 lose. Always seek professional advice before investing in any cryptocurrency. Please understand you 770 00:48:24,239 --> 00:48:39,480 are using any and all information from the Crypto Cousins at your own risk.