Trump Goes Big On Bitcoin | Britcoiners by CoinCorner #130

Transcript

who do you ever talk to in these but who are you talking to for that people I know people I [Music] know shut up man let's go we're back let's go guys we're going we went for you okay we're ready uh Bitcoin is 130 back 100 and 30 episodes isn't that mad we should actually I was thinking today we should listen back to one of the original ones got time for that okay cool let's go with the agenda right agenda um SEC approves ETF uh e great start 130 here we go start ethereum ETFs um Bill Banning feds from creb DCS uh Trump saying he will release Ross hash free Ross uh Island Man companies with Bitcoin on the balance sheets uh what you think I was thinking it's a funny surname what free Ross uh Robin Hood acquire bit stamp bit stamp uh EB Cuts interest rates Turtle twins TV have got a card game and what to ttle twins Turtle twins turttle Turtle twins Turtle oh this is a great start uh of so far it's out of practice and Trump Weighing on read in the last two weeks the only reading get I haven't right there you go agenda done thank you thank you guys I have no idea what we're doing now right well Sur where we start isn't it live price we should get our bitcoin price ticker it's coming it's coming with a new pod room just chill just chill that's why we got it oh yeah uh 6, 67,800 oh didn't realize we're down over s days mhm not much have you not been looking that price sck on your desk yeah but I only see it well one day off I suppose we do have 5 day but yep down doubts in the markets so the price is 68,000 for or just under 68,000 for anyone CPI data coming out today from America oh there is a lot of that today lot on the downtrend are they today yep all of them were yesterday that's what it was there's doubts over rates Cuts I think what we see normally with the price when this is happening is a dip in the price before this CPI stuff comes out anyway so we do normally see that so I think we've seen similar to that however we have seen I don't know if it's on I don't think it was on the agenda I couldn't understand your ramblings um but the um we had true though my accent's bad but them ramblings um the there's two grayscale sold quite a lot yesterday from their ETF um which had a downward pressure I think so when we've seen this dip from 70k down to about 66k just broke um we power through the grace SC had two days now of quite big outflows think which has brought the whole ETF bundle of outflows um into the negatives um have they I thought we were on 18 days of until yes until the day before yesterday what day 18 days of positives and then negative now yesterday was like 120 mil out I think oh um which was mostly from grayscale I think so they've had a bit of a an exit from there um so yeah unfortunately we've had a bit of outflow which has probably been why the prices has dipped down a little bit as well so I think combination of a few things so that's the price nice that is the price okay moving on to the first discussion point the SEC approved ethereum ETFs so this is we got a little bit of news from while we were taking a two we break and then we'll come on to this is the official announcement Page by the way which is is no longer found but maybe they've done a bit of a yui sry what was this news said this is from while we were just taking some time offs but the SEC approves ethereum UTF I think a few weeks ago a few weeks ago you were saying that Biden's going to do a U-turn and it and make sure this goes through um oh and he did and it has apparently there's more now coming out that they don't think it's him that did that they think it's one of uh was it the are you surprised head of wasn't head of policy it was one of the other guys that is actually a bit of a bitcoiner in there and I think they've tried to push that through but is he pushing for an EF I know crazy yeah I don't know crypto guy if it was coming from the Biden Administration they'd be taking credit for it right and stuff when they haven't really publicly taking credit for it yeah I think it's come a little bit from some I think it is meant to this person within the B Administration but I think he's put not necessarily they ad campaign push that through and because on on the flip side of that the negative side they um vetoed the thing didn't they what did they veto last week um was it the banks not holding um Banks yeah other the custody that got passed by the Senate didn't it of yeah Banks being able to custody crypto will be able to custody crypto no no opposite Banks it was it was passed by Senate whatever they call it in the US um that Banks could custody crypto and the Biden administration of veto that and said no you can't right I'm with you yeah so they've gone from one positive to then a negative which then has maybe shown the true colors that actually is not really bit of a mixed bag in terms of where he stands on the old crypto Market itself then and just where he stands is he sitting on the fence wow that video of him that just come out last night he's just he's trying to sit down the one way he's trying to sit down I feel a bit sorry for him honest it's just like oh he tried to sit down an invisible chair behind him and then they took him away seen the bits where visiting visiting and he just turns around and everyone just turns around with him and he's like why is he like it's bad it's bad you don't want to take a Mickey out just an old very old person but Trump's been very clear in terms of his policy stances hasn't he in terms of what he's going for seg ultimate seg man won't follow the agenda we'll go straight to the well you kind of talking about that's the other end of the scale where he's Pro everything to do with Bitcoin and Bitcoin there has been a crypto mention but most of it has been Bitcoin which is good to see M so Trump yeah he made a posting uh Bitcoin mining may be our last line of defense against the cbdc Biden's hatred of Bitcoin only helps China Russia and the radical communal uh communist left we want all the remaining Bitcoin to be made in the USA it'll help us be energy dominant some urn is it got some people in his ear there he'll got some people which is good in in so this is the way I see this at the minute with I wish it was someone else not Trump well so he's just been convicted for literally money laundering and you embezzling funds yeah um and court with that stormmy Daniel's case he's always had essentially he's got sentences hanging over him so it's really hard to July is it I don't know but it's not sentenced is it the the trial found no he's been found guilty of the trial it's it's sent July then I think yeah so it's like oh great so he's peing the president from behind yeah exactly it's just like oh so you got to take whatever he says with a pinch of salt but this all came from didn't they they organized like a round table of all the miners right which was yesterday magazine behind that I think they organized it David Bailey yeah so people from Riot and all the big miners in the US so they've gone and explain the energy usage for him and all I don't know whether they' explained that whether I think he's also got um what was it called the guy that was running for president and stepped back and yeah and put his support into Trump and he's massive on the Bitcoin side so I lot people think he's been tell him what to say yeah get the Bitcoin so he just it's politics he's trying to get the audience um but the way I'm seeing that s what was saying at the beginning there is Trump people are be loving that from the American side of things from the US side because they think okay yeah get behind Trump it's positive for Bitcoin in the US and they're talking about Mining and getting more like he's saying there all the Bitcoin should be made in America no it shouldn't that's ridiculous said no that's what I'm he saying he said all the remaining Bitcoin should all be made in the US like that's terrible that's centralized you need to be the point of it is it is decentralized we want more we want that spread between countries all around the world not just America um but for for people that living in the US it's great come in and do this but actually realistically that's pretty negative but they're going to cheer it on I think at the minute is but this is the beauty of Bitcoin mining right and why it's a free market and you can do it from anywhere so it's like countries wanting to do it is good like say we talked about it before in terms of National Security where country if yeah Bitcoin does become the nation like adopted as a Global Currency then countries have to be involved it's got huge similarities with the um so mining rewards don't matter that was the conversation we had on it at one point mining rewards are IR relevant at that point because they're doing it for security of of the financial incentive yeah yeah it's got similarities to the whole silicon chip industry I'm I'm reading chip Wars at the moment it's a book you'd like actually James Miller where basically they came up with it in America Silicon Valley compeed as chips but then Asia got more competitive with it but then it became a problem with National Security because all the American defense and all the amount of usage of chips Chinese yeah because came like one nation can't control problem now even mobile phones and things this is a big reason taiwan's so controversial right as well China taking Taiwan but like so they literally lobbied hard Silicon Valley groups literally lobbied America to say look you cannot you have to put sanctions in place for Japanese chips you can't make it all the Japanese have the whole Market because they've got a competitive Advantage because they were manufacturing it better essentially so they had to put that in place for National Security they said they described it as the next Oil so if you think so like Bitcoin could essentially be the next Oil the next the next chip if what a lot of our industri is pushing out at the minute in terms of renewable energy it's helping with renewable sustainable energy by Bitcoin mining having that last buyer of result as such for the energy which allows Innovation and helps build out the infrastructure for renewable energy then yeah it is a bit of a arms race for energy at that point so the oil becomes Irrelevant in that sense you're not seeing any of this sort of rhetoric from the UK election that were we I've not heard sunuk saying no fix economy um in play I think yeah I think that was silly but that's on the agenda isn't it actually one sorry it's not on the agenda it's one of the questions that got flagged in terms of Dave yeah we can touch let's do a quick d da spontaneous what's the D Dave just that one uh Mike you won't know when a c is little thing I'll see it for later is it question one or two which one you don't I can't remember I just saw it in the chat both about UK uh the one that relates to what we're just talking about one oh Molly can't allow dead time in a pod one yeah number two well say number one um any chance you could give an update on bitcoin crypto Outlook in the UK on England from no not that one the next one the next one je my bad have any UK politicians reached out to coin corner for any Bitcoin education it must surely be on their radar yeah cuz it was saying that Dave saying nobody's talking about in the UK politics of Bitcoin side and I agree with whoever point that question it should be on the radar we're just lagging behind the times if it becomes a question of National Security nobody's out like nobody's reached out so that's that's no no our politics don't really work in the UK do in the same ways like the US I don't think it's not as still bit popularism coming in should be reaching out it's more like an entertainment show in the US isn't it where lob oh farage is already driving around in an open top BS entertainment Val won be for long milkshake some will take a shot eventually it's just not as paid people don't pay attention as much in the UK as the US I don't think rightly or wrongly I'm not saying but the televised debates you know we are copying America that they've led the way in that we do them all the time I think we are going towards that anybody ever watch one I don't think they get that much quite interesting I've never watched one it's interesting in the sense that like a train W is interesting yeah entertainment to an extent I don't know it sometimes can be a bit different if you either listen to what said or see what's happened can give you a different opinion on who won that debate a famous story you're interested in that sort of stuff most of the countries just don't care there's a famous story about Richard Nixon versus Robert Kennedy um but is it Robert Kennedy sounds like a story care about again and most people don't care on the television debate Nixon sweated a lot and it looked and it looked like he lost the debate because he looked like he was worried when anyone listening to radio at the time said Nick have W it hands down so there's there it's come that's just an interesting thing thanks for that fact no that was actually I quite enjoyed that that was quite interesting thanks yeah sometimes just drop him in there but I think we are going that way I think we're going that way well to to not have those questions raised at these debates about what is becoming very important they're already employing people on cbdcs without really having putting it to the bank of England is that's independent from the government don't forget but that's even worse because that's I'm not saying rightly wrongly I'm just saying that's the way it is at the moment but without having having public discussion they're going down a route that many citizens wouldn't be going down in the UK I'm not disagreeing with anything I'm just saying no politician reached out none of them are talking about it none of them get more a gas that they aren't farage is cu it's just not a thing they them being pro it's already a thing they're making it a thing right if if for example um who's it UK once one of the smaller parties um the new farage One reform reform well they're like they're going to get merged with conservatives or something someone whatever that ends up being but some of the smaller ones maybe not for the greens green pie right they start saying yeah we're all for Bitcoin bitcoin's Ace let's go Bitcoin mining we love it like Trump's doing mhm you're not really still going to get anyone going voting for him because it'd be a wasted vote because labor are conservative no most all the bit slightly closer there's a lot of protest votes all all bitcoiners that they can you think they're all going to now vote for green party said bitcoin's good they'll look at the data conservatives feel realized they're losing a lot of ground a lot of votes to the greens look at the greens policy and go go actually we need to be Pro Bitcoin because that's proven popular you're you're looking at it from the politicians side and that sense but the public don't are not thinking like that not we're not the same as the US is what I'm trying to say there we're not pay attention if a green part percentage votes again we'd looked to this if a green party went heavy on bit in their Manifesto said we want to promote decentralized currency we want to promote Bitcoin or promote Bitcoin mining and innovating y for those you don't think that'll get more votes in the UK than it would have it might but there's there's two angles that some of the bitcoiners might think yeah let's vote for them but then the other side of that is you're voting for it's a wasted vote in some respects cuz they're not going to win the election I don't think people see it as a wasted 100% people see it you talk about it all the time and people say who you're voting for not Bitcoin forget Bitcoin people say in the UK who you're voting for if you're voting for anyone outside labor or conserv it's a wasted vote because they never get in power there only everybody always says that elections ago that the lib thems determined who got in power by being the protest because yeah because they had like there's no choice then those minority groups have a I'm saying that's what the public say that's what people say a lot of the time like people out there don't think the way you're thinking the way we're talking who do you ever talk to in these but who are you talking to for that people I know people I know okay maybe it's a different crowd I'm hoping it is a different crowd there's a lot of people that was it Russell bran can behead of the don't vote at all cuz yeah kind of similar right maybe you to a protest vote now instead yeah okay I don't know what we talking about oh there no UK politicians have reached out they should be reaching out so Lisa but we've tried so Lisa's came she came to the conference she's one of the Scottish she's in but she came to the Edinburgh conference um 18 months ago was that now last October 2022 was it or something um and she Lisa Cameron was it it Cameron yeah I think so um had a brief conversation with her and had a bit of a chat with her quickly as did a lot of other people at the conference um and talking about Bitcoin um hopefully I'm not going to offend her in anyway she had noide a about Bitcoin and how it worked at the time and I think she's picked up a bit more now but she's been for 18 months there aware of it trying to push it trying to drive it she's I think mentioned in the house is Parliament fewer touch is she not right okay so she's gone um but that ended up being like she was trying to do something but she was trying to do something to get her own attention I think in the respect of like it's something different it's positive and don't get me wrong she was she may have gen maybe she SP people off did she lose a job because she's too much of a Big C I didn't know she wasn't there anymore so yeah maybe um but there has been people that have touched on it in some sense but not at the level where you've got Trump and you're not going to get maybe farage Mike he was at the Amsterdam conf he's been involved in a few even with Trump right the politicians reaching out I doubt Trump reached out I think I know it's the team behind the scenes but the team behind the scenes are not reaching out or not even reaching out like Bitcoin magazine might have reached out to them going let's do this like but we've reached out to Lisa I doubt politicians reach out to anyone to do anything no but the conference in Edinburgh reached out to Lisa and got Lisa involved a little bit there the Edinburgh sorry the Amsterdam one was farage so they they have reached out and got them people in but they don't nothing's coming from that in some sense I think a lot of the time when people say about have you educated the politician yeah we sat down with Lisa and had to talk about Bitcoin for half an hour policy thing the Bitcoin policy UK yeah they they had but not not single MP game so we get inv 12 I think it was invited to that and not a single one game and you can't educate them if they're not going to listen for one and they don't care to listen their job is not their job is to do you think it's up to their constituents to start writing letters uh people are trying that there there's a couple there is a couple of been that where people are writing letters now I think Freddy had tagged one the other day actually on Twitter about writing one to your local uh thingies and that but it just doesn't people have been doing this in reaction to a vote wasn't it people been doing this for years though not on bitcoin they've been doing it for years in all different Industries different um topics and things haven't they and trying to push MPS to do different things um but I don't know I just feel a lot of time they just don't listen and they don't care to listen they are representative of their constituency so they should enough of them enough of them said otherwise they won't get in I mean it has to be proportional representation isn't it so if all you got consistent full of bitcoiners and you're not pushing Bitcoin agendas and you're not going to get elected next time I don't think you have enough bitcoiners to even for the for it I don't think it's a big enough section of the vote right they lot of people shouting about AI they lot of people shouting about run the L people shouting about all different Industries in all different places that they've got to they're not going to listen to everything and they're not going to pay attention to everything I don't think there's enough bitcoiners for them to care to to make that agenda um in the UK you don't think in the UK like enough call a Bitcoin or someone that holds a Bitcoin is you call Bitcoin an advocate I would say an advocate because just if you hold Bitcoin you're not going to be paying the and even the people that hold Bitcoin I don't think there's enough that would care there's what was last estimate 6% of the country it's not enough and even that that 6% hold it and I don't spread across country incredibly High still as well I don't believe that's true um I it's just not enough well I'm wondering if Trump's been a bit misguided here because in the Bitcoin magazine article that he added on to his little post this starts off with one in four Americans own Bitcoin which I just don't think can be close to true no I think you think has he got some inflated figures that makes him think that he needs to go after the Bitcoin vote bit harder click the link in the own does that take you somewhere to where they've got that study from yeah so what's see I think so when you look at where the data's come from for these um is it surveyed on so many people so you'd have to see what that 402 between the ages of 18 something survey for 400 people and they've took that percentage from 400 people you just just we talked about surve before hat of them so you can't use people can because it's all they've got to use but I just state that out to the whole of the US can you 42 people equaling all of the US one and four there was I saw something so coinbase for example was it we had this conversation day but coinbase have got 100 million users registered users um I don't know how what portion of that is actually us but I think it's only 9% of their customer base is actually active and done something that what have probably done something you maybe 20% have actually bought something but people are using the 100 million figure to try and estimate these numbers and these things sometimes where then you end up actually you're saying 100 million people on bitcoin but actually no it's like 20 million and then of them 20 million there's probably 2 million that actually are genuinely focused and actually regularly buying that um and you start narrowing it down and it's still we're still so early there's still not enough people there to to drive and car it then maybe in the US because wasn't as I'm breaking the numbers down there you could end up with two million people which is a potentially big portion of Voters in some respects um but I think in the UK with the smaller numbers it's just not okay not making sense um politics back to theend opinion back to the agenda back to the agenda but still on Trump uh he's yeah part of this he promised to release Silk Road founder Russ Alber if we're reelected time for these we just had this debate before okay off podast which I told you guys to wait until we were on the podcast that's an awful yeah I don't know I that's a hell of a picture well he's promised it now so if he gets in he'll he'll have to do it on day one on day one I'm skeptical if he'll do it no he can has he not got quite has he got a good or bad track record of making false promises and not fulfilling wall thing was I thought was Preposterous and he's building bit of a wall start yeah but he didn't he pay for it h he paid for it yeah but he said he was someone else was going to pay for it okay he did actually yeah but he can't force that that's that's a you can't promise something that somebody else has control of I guess some um but even if he promised that's his own stupid said he was going to fix the dishwashers I I don't know I don't live there so have you not seen that interview no there's a real problem with dishwashers in the US he had a big ran about he's going to fix the dishwashers don't know what's wrong with them he's going to fix them have you not seen the video I think it's dishwashers or washing machines one of those yeah it's a guy he just there you go complains about dishwashers energy us who says it due to energy use of them he just said there's problems with them and he's going to fix them okay they're just ridiculous things out there and did he is that before his last SE yeah I think it was how' he get on you might find maybe that's why I put it out there may improved it our American listeners can tell as if the dishwashers have been [Laughter] fixed I know good guy he'll come around and fix it fine um anyway uh yeah Ross or Bri coming being offense at dishwashers that had water restrictions should we get back to um it's a I think that in itself will get a lot of potentially Bitcoin voters as well I think he's going to get every Bitcoin thing is it he just playing to the Bitcoin audience is the Bitcoin audience typically Trump voters I I'm not too clear Bitcoin for everyone isn't it so you're going to get a get a bit of everything but will they move from yeah from whatever part they Biden or whatever it is to Trump for this reason mean Bitcoin is not necessarily free Rosses either are they Dave's not I tell you what don't drop me in it I don't I've just read different literature all yeah me and Danny do tend to disagree on the old Ross situation both separately read a different book and then different I've read American Kingpin and I might have read that I may have read definitely haven't read it's not on audio you two probably interpret it completely differently though the one I don't know it you guys read the same inter you should try it I don't think you would have it was years ago I think I suggested it to you I thought it was have read that thought it was a really good book but I came away thinking Ross should probably be in jail I think he's done 10 years now is he nearly I think so I think he probably should have gone to jail I think four life sentences is a bit harsh when chaper got W I don't think you anyone can disagree with that four is Harsh like four is ridiculous it's like unprecedented it's never been like no one's ever had that sort of thing for a drug crimes it is there to be a deterrent that's what theyve but they've made an example they've made a m of them yeah and that's that's you shouldn't do that was he without as well yeah never come out so they Trump needs to get into power for him to come out at the minute and that's that's almost a sad thing I if people have read and realized what the implications for what Ross did some they might be a bit like oh well it's it's not I don't think it's as black it's not as black and white as people make out just cuz you know because he used Bitcoin on his website he should be free I don't thinkone say people get behind him if people are saying that they're naively saying that I just I just yeah there is I think there's an element of naivity in in naivity in everything in some respects think like that but it's not it's the full life sentences like mik think it's a bit harsh that's crazy I think it was an unjust sentencing yeah okay change sentence right all he can do is pardon him I assume he can't like change his sentence I assume that's not allowed no yeah that's what we were saying could it would does pardon him let him straight out that day or does which could you say actually remove so it's only one life sentence rather than four and then he out I think pardoning is forgiving him for all I don't know if Trump has the power to change sentences only way is pardon him apparently Kennedy's jumped in now as well echoing the same thing Kenedy just seems to say anything there you are going to get some votes yeah okay I don't know the the opinion of like actively changing your vote on who's going to run the country based on this one thing I've seen a couple bit mad I've seen a couple of people tweeting saying that are they they don't want to vote for Trump because they don't like him but like all other policies but they persu I've seen one guy actually I can't believe it was now he tweeted about it because he's works in the Bitcoin indry might one of the minor and he has got his M his parents basically he's convincing his parents to vote for Trump because it'll help him because it means that he'll be able to stay in the country and'll get Pro stuff for his company um so it's yeah it's not just the people it's the people around them that they're getting V because it help helps if it helps your son like his life for the next 10 years would you vote for a person you dislike to help your son these guys read I read they read the fifth Risk by Michael Lewis about the when he Trump took over from Obama um and it talks about how laxidasical they were in terms of Handover so like there's a decaying huge decaying storage of old nuclear weapons in America that no one's really paying attention to there's like non-pop poist stuff that hugely important and then you get one guy who's got a harsh prison sentence that they want to release becomes the main topic and really he's got a track record of not doing any sort of Handover when he gets elected so like all these civil servants are literally a lot of them are like what Happ policy was where the other part is coming in power they don't want to to clean hand over no there's well documented Handover processes Stu get dropped the important nuclear stuff that he won't know about you know these by the way this is a huge problem for America it talks about in the book about the loads of civil servants just waiting for the the next lot of civil servants or the newly you know his officials that he should bring in yeah his appointments and they're just waiting there for months and months no one's coming and like then they've got budgetary problems because they don't know going in the future what's going to be allocated to them so there a huge problem last time a mass scale forgotten employee basically did you read that a problem he highlighted it there was a big problem last time it could be even bigger now but unless he's learned his lessons but he's got to get in first yeah they also cause it will cause inflationary problems cuz he's promised so many tax cuts as well they's just going to so we go may go around again they'll just start borrowing printing more and more money so Pro Bitcoin in that way cuz he might mess up the dollar so a might under dollar anyway and then he and he's Pro Bitcoin he' be like yeah I I don't really have an opinion on Trump no interesting to see Bitcoin talked about the last become a political kind of thing to campaign for or against should have an opinion on Trump opinion on the political side around it but Trump as an individual is what he is good businessman he's a great actor in Home Alone too was he yeah great golf ho in one I don't when he announced that okay right next uh I'm I'm going to I'm going to jump around on here but something Danny will have an opinion on is Apple officially announces partnership with open AI why is this even on the list I this has nothing to do with Bitcoin get rid I ticked it just cuz I thought you why is it even on the list let alone ticking it cuz she shared it in the chat shared it oh yeah but about Elon Banning Apple where workplace so we need to I've got um our Faraday cage on its way yeah anyone you heard this news and immediately bought a farad cage have to go in the box but Android do with the pixel 8 every device is going in it for farad cages all around I wonder if any of our listeners have also got Faraday CES I've been waiting to get one for ages and I just kept forgetting and then it's just like that and that was it set you over the edge so yeah these shouldn't be here right now God okay okay nothing really else to add to that it's not a good future Dave just trying to I agree it's not a good future yeah Android will follow Su there I'm not about Apple Mei in general AI data side everything it's just it's getting bad it's getting bad you just got a vend arant mid Journey no oh no no yeah well mid Journey's ux my God give give BL me that scary smart book and that's very much this is just the the very start of how how potentially could all go wrong in terms of AI the world ends it's it's bad it's not this is it needs to be when people say like regulation and stuff like that it probably does need to be regulated in some capacity the AI side of things and what they're doing but the problem is once it's out there it's out there and you're not going to be able to restrict it you seen a film free guy watch that the weekend that's about AI That's a great film bit light bit more light three fre guys in Ryan Reynolds yeah yeah where's he's an NPC in a game and not seen that yeah it's really good he breaks out yeah he did he AR official yeah it's good sounds like the Matrix it is a little bit more like concept but more of a comedy one sense so we're all worried about AI yes class cool right uh you tweeted uh the Alan has 5050 companies with Bitcoin on the balance sheet oh I forgot about that o Bitcoin on the balance sheet is taking over a lot of my time at the moment as well few journalists calling up about that we've got quite a few people yeah on that now as well more business how many total businesses on the island you can't compare that so that's a bit of a difficult the man has got two businesses for every every person so you can't really say that cu cu it's offshore in the sense of there's lots of offshore shell companies in that sense where they don't really have an employee very poor po stat well no cuz that business could still hold Bitcoin and one p balance sheets yeah no I know that but they can't they're still a company yeah it's probably not a fair comparison to look at the the numbers I don't think though because of the type of country we are and they're not really they IGN although they are still a company in name they're not really trading entities so you'd have any sort of even bank accounts for us I mean how many how many do we have exclude all those yeah just I think I have about seven or one person there so I don't as long as they're all holding bigco actually quite a few of them are I was on a yeah call with a journalist and he was saying micro strategy pioneered holding Big B I was like we've been doing it long who who did micro strategy said yeah it's a lie I don't think they it they pioner in terms of sailor's being very vocal about how to do it what you do and teaching peopley and he's talked about yeah he's seen from this third party as a Pioneer they just they brought that to the table I was like well we've been doing that longer pioneered it publicly yeah yeah exactly all that really count pioneered it quietly okay I think s is pretty clever I know I'm not saying he's not clever he's just trying to Big himself I'm saying that you do it privately you do it quietly there's loads of people doing there's 50 on our balance on our yeah but actually if there's more if there's more Michael Sailors then that's surely better for Bitcoin than people doing it quietly price whether they shout about or not the Bitcoin price will continue to go the way it's going I know but they you want more people more adoption of merchants I agree but if people that have been quietly doing it for 10 years aren't as helpful as one shouting about it for it depends what for it's accumulation it's a the individual but Michael s's gone out there and made a workflow of how companies and Merchants get involved with Bitcoin I think that's more helpful for what for more people putting on their balance sheet for for Global adoption of bit for public companies yeah yeah private is not sure I think having a Playbook is useful It's A playbook for a public company it's not a playbook for a a public us company it's not a playbook for a private UK company it's you know yourself you're de it's completely different in terms of tax and all sorts fact that capital gains we have no capital G you forget about those the nitty-gritty on that the fact that he's shouted about the possibilities against people that don't show about the possibilities is more useful I'm not saying it's not I'm saying it's clever put to quiet so if you go back to my original point the ones that quietly privately did it have been clever in terms of ACC it's given more time to accumulate more his my point um but yeah we're getting a lot of focus on bitcoin on the balance sheet um lots of questions um BD are actually going to put some out there to hopefully explain a lot of the questions doing a few articles that explain a lot of people queries people coming back with the same pretty much the same five questions in terms of is the price to 70k that'll be America CPI CPI now just out now maybe so we've just literally spiked up that's crazy that would have been good if we had a Live sign well it would have been great seeing that go if only it was uh we could have actually just picked up and put it up on the wall oh I found it was in that room possi get the kitchen pick it up that's one on Mike's desk yeah we could have done that sorry Mike hit with the B next week anyway we kind of balance sheet Focus we'll get some get some stuff out soon I think helpful stuff yeah but 50 in the Alabama over 50 in the Alam man I just put 50 there but there's over 50 um it's good to see and there's plent is that because our presence is here uh interestingly I I heard SEMA child's Institute of Management accountants one of the biggest inses of no it's not any any institution that tries to uphold standards is a good thing um they had a a Bitcoin stroke blockchain conference and they brought up a map of merchants accepting Bitcoin because obviously it's a growth industry there's lots of accountants looking for you know trying to get educated on it and there was a they looked at the UK map and there was a big old anomaly over the Alam man because the amount of merchants here against the rest of the UK and there was a question raised to the panel why is the Alam man got such a concentration of merchants and we were brought up yeah oh nice so I don't know it's nice nice titbit I think it definitely is because we're here it's been that I would I'm not trying to give ourselves Credit in that sense but it will be without a doubt because we're here and because we've been talking about it for 10 years it's slowly spread between companies um in a Consolidated area the UK it's much more spread but there is more companies in the UK with Bitcoin the balance sheet even as our customer we have more merchants in the UK just concentrates I just didn't give the number out for that there was a lot more yeah um so but yeah spread out cool a growing Trend good to see mhm uh Robin Hood recently announced that they were buying bit stamp did we see that coming I thought big stamp were you saw it coming yeah oh I can't say much more I won't say much how much was it 200 million approxim 200 mil I think yeah in cash as well it said yeah it was in cash which that was quite surprising normally it' be like stock and yeah x amount of time and all that sort stuff lock up but yeah you think it's a good move or a bad move for bit stamp it's a great move for bit stamp um it's an exit for them they paid 400 million for it and they've now sold it is um so the the the bit stamp got acquired in 2018 19 yeah check I think it was about $400 million they got acquired for um they've then obviously sold it years later for 200 million so they've lost out um in that time period um put maybe like it must about 2019 I think it may have been okay so but how is it is it a good thing or B thing for the industry put $400 million actually sorry um Robin Hood aren't they haven't got the best reputation they 2018 so here te um for Robin Hood for the industry it's just I don't care I don't think it has much fact really I don't know I just thought I thought bis stamp had quite incedible reputation I thought and were one of the longest ones and I feel like being acquired by the likes of Robin Hood who don't have a great reputation it's a bit of a they're the longest running 2011 they were founded I think so I think they are the longest running in the world um they they've had they've not had the best had issues over the years haven't they they've had a lot of issues over the years from various things um they've not kept had the longevity thing behind them yeah they've not kept up I'll say more off the podcast just beep all out um I could tell you Mikey can beep it out someone will wouldn't make for great listening yeah but our reactions would be what really no here's the clip for the thumbnail I think the well Robin Hood are trying to get these done by early 2025 so early next year they haven't got a great record for purchasing businesses either by the way no see when this is actually signed off yeah subject to like regulatory approval and stuff yeah yeah so and they're doing this for the licenses they got UK LIC the Dum Money movie did them such a disservice by the way I can't look at Robin the same light anymore are they um are they keep as bit stamp staying as bit stamp or as it uh they are for now they've not really said it as far as I'm aware but I think they are for now and they're just slowly going to move everything from now until early 2025 it's going to be like a slow migration I think by sound because they still got to get the regulatory approval for everything and then they'll have to start handing over and start moving everything over so it's going to take some time it's good though because we move up the ranks in terms of the top longest longevity yeah another one down this is m&a is merger and acquisition side people will slowly over time it will consolidate and everyone will slowly get bought up and at the minute we're seeing finex more than anything buying up exchanges and crypto businesses um but I think in the next sort of let's say five years maybe onwards you'll start seeing Banks and more traditional Financial companies starting to acquire crypto businesses crypto exchanges I'm saying crypto just a wider yeah audience but um this usual Market timing right you think not really in the the mix of a mega bull run yet if you a bit St you would have waited 12 months yeah but you don't know this I don't know what's going on there I think they're incentivized to sell aren't they because of that previous purchase you've obviously got people aren my inference would be that the people aren't in there for the long term they've just bought it looking to see you know they bought they turn around and then it was after 2017 ball run and 2018 start 2018 was kind of bull as well um and then it's always when you haven't got original founders with the dream of building something that then it becomes distorted and then it becomes a vehicle just to to move around and make profit from are you going to IPO with the company if you're not then it's yeah you sell cuz if the fact you're right Founders are not driving that's why everyone's Keen to see how many of the original Founders like share Holdings and bits and pieces what involvement is and you would have probably found the bit stamps hasn't got much it was like there was really years ago cuz I was involved in the industry but just e um which obviously a massive company now just the uh just check what their share price is these days but when they ipoed um I think their CEO founder when they ipoed had 4% of the company by the end of it and that all he had by the end um it's still worth a lot don't get me wrong but um this is how you know accepting VC money can distort in terms of what you end up doing and you just become a vehicle for them to make more money to profit on selling um yeah CU he I think he was old founder as well I don't think he was co-founder he was founder and um it was about might been about a billion dollar listing whatever it was but he only owned like 4% by the end 4.2% whatever it was yeah um which then yeah he's I think he still in CEO as far as I'm aware I suppose that's what there was a Dear Dave question about that wasn't there in terms of our position against that yeah that was a Dear Dave Robin Hood recently bought bit stamp for 200 mil as Clin in the best position to resist takeover as you saying there shareholders and things like that can influence decisions um yes we don't really have any immediate need or immediate well PR our still the biggest shareholders AR they yeah so we're much more robust than Robin Hood would be I mean for than bit bit St would be um yeah so people have not talk V cap money along the way then yeah you kind of we can still do what we want yeah kind of we are in control Freedom which is nice kind of fre shareholders which are like the founders and whatnot stuff but you've those guys joking obviously they don't listen you fine chance Listen to I know wonders oh yeah um but our shareholders are great uh but yeah I think um yes I it's a always a difficult question for things like that but yeah we're in a fine position to not need to Panic sell to someone like maybe what bit stamp have done there cracking cool is that the agenda done no we still got uh ECB Cuts interest rates by 0.25 to 3.75 despite inflation Rising last month Canada also cut rates by 0.25 on the fifth my prediction they've gone too early oh okay straight in there mm well hang on rishy has already saved fixed the economy the economy so does that that reflect to the EU as well and everyone else around the world the but he saved the economy Dave yeah and then snap election I forgot about that it's coming up soon isn't it it's just it's coming up before any more figures come out I think yeah about this morning that would make sense she's already called 2.5% in 2004 and 2.2% in 2005 mhm it's very impressive as she can yeah they often get them wrong he like even America's announcement today probably proves that they' probably got them those wrong as well but who called that is this our criminal lady friend this is uh yeah Christin she is she is Criminal they just didn't want to drag Germany into bigger recession so they have to cut the rates so there's the problem with the ECB is they've got like a Germany and economic Powerhouse but they've got other countries that may have wanted the rates to remain it's the problem we're going for the m the Euro but anyway okay it's a bit too early in my eyes I that as I see our criminal lady friend you can discl to that she kept her job and avoided jail after being found guilty right said she was never going to get a sentence to prove a point was she yeah she got the same face in every pH isn't she she doesn't really smile Maybe maybe it's AI generat maybe uh no okay this is an interesting one the Tuttle Tuttle twins TV announc I thought this was great who I've lit never heard this they they've announced a card game for kids called inflation monster so we were talking about uh education at the point in the WhatsApp chat in the main chat and I shared this thinking everyone will find this interesting nobody responded so because no one's heard of the total twins TV they've got they're on their third season what is it in America where is it it's UK is it yeah ukuk where would you watch that on the angel Studios app yeah I don't see what your beef is Dave so to watch this program I've never heard of I have to download an app I've never heard of it's just like downloading Netflix to watch Netflix original everyone's heard of Netflix on Netflix massively popular time sh they've got um they did an episode on Satoshi it's pretty good that's one I've seen yes that is what I think I so previously they've done some it's all just Bitcoin themed it's a Bitcoin themed TV show for kids oh right okay game oh it's not like of course they going to do something like I don't care about that's not the point but the game is actually very clever so this actually and I think somebody actually responded to the Tweet saying about you should play Monopoly like that well everything get more and more expensive so each yeah theoretically say each round you go around every gets more expensive um so it helps educate them on what inflation is so as a game for kids then it makes them understand what actually inflation is cuz that's something you're not taught in schools and you don't get T about money and assets and things like that that's just not a thing this actually is a very clever game to do that and it sounds quite a simple game as well I think right have you ordered a copy for the office I've been playing it we should play it I will when it's they only just announced they're making it it's just the concept of it each round you go around it'll we could do a live game on the Pod yeah game night game night that would be good it's basically Monopoly but every time you go around you double the price of everything of all the properties yeah and then never finish a game of Monopoly in my life on my household the banker always wins just get slammed across the roof I think that's GES Monopoly um but yeah no I thought it was quite good little concept I thought it people might lie that kids and things but it's nice I was teaching my kid about the McDonald's burgers the other day due to our upcoming release of something yeah y was trialing it on him he he was outraged right except he keeps pointing out that back in 200000 in 2000s it went down so the price does not go up it goes down and then carries on he's not forgot that bit which is not helping me trying to drive home inflation to him what's this so that was through a deflationary point this a Big Mac index yeah there in 2000s it goes down ever so slightly before going back up again if that was theom bubble having an impact on I don't know what I've never looked at that why I'm not can't remember the graph of the Big Mac index did it oh was it because it wasn't because of the uh I like the technology I don't know I don't know it just it just goes down so with the technology boom it went slightly cheaper we should probably explain that why because he's really clinging on to that where's it most expensive Switzerland yeah Switzerland's still the most expensive Big Mac eight is that dollar in dollars $8 for Big Mac yeah that is price shocking okay uh that's it onto dear daes the rest of the de daes we've got that's all the agenda cracking cool coin Corner updates of anything before uh not publicly some of the questions are coin Corner update yeah uh case you guys want any chance you can give an update on bitcoin crypto Outlook in the UK and England from your perspective both personal and on a business/ professional friend I don't think he can no can we just say no on that one see Outlook where you start where did you start there so many we're going to get very very broad we're going to down the rabbit hole the politics side I think maybe we touched enough looking for cbdc engineers that's me and Dave have applied what's Dave applied for to run the show mate literally for a laugh to give them a laugh whoa whoa who's this idiot I wonder if I could get in with you just by lying on his TV for that shall I apply for a job there and see if we can get an interview be funny if you didn't get an interview and then get the job and then see you dny I think you should we're doing this for a joke sure we'll re-employ you when you yeah yeah don't worry about should we do it I think you should do report back on the scre the interjected I know you have to go through like a because it's a govern you have to go through all sorts of can't just send a CV over send your Linkin link yeah it's yeah well it's not government but it's they'll have a portal won't they where you have to create an account yeah maybe we a't got time for that yeah nobody's got maybe I can mock you up a a CV or something just just tweet at government with your CV you be all right tag my link in you just get an email back saying no thanks yeah uh so there's not really any any updates we can really give us it's a bit too bit too we could but we let's just do another hour long episode terms of the the Outlook I think it's the politics bit we touched on okay uh Dear Dave it's been mentioned that you were working on some new merch any updates on this please leave that to you Molly is there any update on some new merch still in progress very close though very close launch date July 2nd I'm put it out there for some merch [ __ ] uh so okaye I already give the date internally in 20 days put real pressure there I know don't know if we're going to be able to Source the product in that time July 2nd okay right uh yeah look big launch July 2nd then we maybe we can we can do an announcement about an announcement on July second we might not have launch it July 2 website live okay itare it hasn't been started yet nowly not even with tech yet the website it is they've started well they haven't cuz the Design's not they have cuz I saw it on the screen the design an hour before I came in here I saw somebody working on it oh they're working from a not the right design then they are but July okay so much coming soon July 2nd it's not as soon it's a date there a date July July do we want to know why July 2nd four weeks oh no go go is there a reason for that date Quin 10th birthday no one cares about that so we so it's co merchandise CO's birthday 10th birthday okay we've not done merchandise before so okay there you it's called it's merch with a little twist isn't it so yeah it's not merchandise yeah we hope that people will like the idea and concept behind it um any further progress regarding Quin of Visa card oh jeez in progress is all that can really say on that okay there's not very much more what call d da one word answers yeah I was to say in progress I think I answered some of the guys already on this in in the telegram chat but it's kind of like we're we're done and ready just unfortunately on the external party that we're just having to wait on at a minute but um hopefully once um that is all done and dusted we can nice to get that one done wouldn't it a frustrating long journey it has unfortunately yeah celebrate that one uh well quite a few questions this week so I've heard that us is apparently looking to have capital gains tax removed which would in a roundabout way make it like a currency in Brackets Bitcoin I put Bitcoin I assume he's talking about Bitcoin when he says it the questions what happen in the UK and it's clner directly involved with groups trying to push for UK legislative [Music] change uh there's a couple of two there's a couple of questions there let's go back to the first one so the first one what are the chances of the UK making cap G couple Gams removed I think it's not off the cards for Bitcoin to be determined to be a currency in the long term I think functionality I don't think while the cbdc is going ahead no but I think the one have cake and eat it they'll still on the capital gains end it may be a currency for a tax longevity of taxes they have to be easily um they have to be manageable for both of the people and the administrator so capital gains people reporting all those pool based movements in their transactions and popular popularity Bitcoin in transactional level would just make Reams and reams of but you can consolidate that into pool movements and net pool movements I suppose but it it has to be manageable for the people otherwise they just kind they won't do it effectively so you could taxmen yeah not just people so I wouldn't never rule that out and obviously if it's declared a currency anyway they' have to change it I think it'll take you're going to have to wait for regulation to C properly get get certain things in place long I'm just help expand on your point I agree with you oh thank you for expanding on it yeah we should say it's quite fun I was thinking this before like a lot of the time sometimes my opinion is not what my opinion is I'm just disagreeing with you for the sake of arguing with kind just to annoy me isn't it just to troll me you don't do the same Dave I've see okay what's the next part question I really hate Trump but I've got to like him just to disagree with don't by way second part of the question was is Korner directly involved with groups trying to push for UK legislative change only through Bitcoin policy UK is the one we support main in the main isn't it crypto UK um Bitcoin poliy UK yeah we've actively involved with with them um we'll support Freddy whatever he's doing I think there's Freddy's a legend yeah Bitcoin policy obvious is crypto UK is trying to do it from the whole cryptocurrency angle Bitcoin policy UK is doing it just from Bitcoin and also trying to separate Bitcoin from uh crypto um it's one of them these these things are always happening in the background and taking away but there's there's never really a pivotal Point such it's a long slow grind with all of this yeah I mean the crypto UK has been around since 2017 I think um so it's not something that's like new it's been going for years crypto UK they've been quite vocal last few weeks haven't they actually heard a bit bits and pieces from them yeah there's been well there always is this this is ongoing I guess maybe if people are not paying attention to them won't ever see this stuff but they do lots of things um same way as Bitcoin policy are doing um but yeah just it's it's a slow long SLO yeah slow long SLO the T um yeah with the recent Bitcoin rally seems to be reting everything in crypto uh it's the is the increased activity in Bitcoin just another example of the effects of Bitcoin harving and will it be a while before this kind of momentum is sustained and doesn't quiet down uh you throw the Bitcoin having in the mix but like I don't think it's had that much of no but it's a never changing Market there's too many variables isn't there so it's just progression isn't it but um harving has been mentioned a lot in the media in terms of when it was the Haring I suppose but we all know that I think you look at Google Trends still it's still significantly lower than Peak 21 and whenever we're on a down at the minute in terms of Google Trends searches and impact um you see that from our customer base as well in signups and things you see the downward Trend was that a trend but this time after the last harving what was harving has any been Haring never does anything I mean how many times have to say this to people the Haring doesn't have any sort of instantaneous or shortterm impact it has a buildup Sim like the long slow SLO it's like it will build up slowly over time because it's supply and demand and that's the point but it's not it just doesn't happen like overnight and people need to get that their heads but I know they never do and I know that people as you're saying there have been reporting on it the etf's had a way bigger impact than the Haring um in terms of price if we're talking price and probably adoption in all honesty as well for wider adoption from institution i m media have got it into their head or did have it nether having the having instantly meant price rise like that's what they were expecting to see and then they can say well they literally say having's failed or because failing because they're not seeing an immediate price rise but it's it's never has been like that there's never usually after harving it takes about is it like 3 to nine months before you see a you the price getting back to the previous Cycles High um and then after that it's maybe about another nine to 12 months or something like that to get to a new all-time high for that cycle if history repeats that's what you kind of see um and that point of that is it shows the harving actually takes you know 12 to 18 months to really start to to show effect in terms of showing effects from the price perspective for supply and demand but I think you're right Dave at the beginning it's there's too many variables harving is supply and demand and that's one variable but there's variables from obviously the ETFs have kicked in um the Trump and the politics that we just spoke about earlier um there's so many things around the world that are just impacting the financial World you've got the Russia and the Ukraine war still with things like that there you know you saw the Bitcoin price when that kicked off in 20 that like that two years ago now or 18 months ago now can't remember when that was um and the Bitcoin price had a bit of a dip and things and you start there's too many variables going on around the world Bitcoin is a global it's the first time it's a proper Global 24/7 asset that people will trade against and it will react accordingly depending on what is happening in any part of the world at any time okay right sound that's surely long enough for this pod Now isn't it there was one more question though another question another question mate um de but the the FED quietly aded that gold replacing the US dollar Bitcoin and crypto uh rep sorry replacing the US dollar Bitcoin and crypto invested brck Bas that it's only matter of time for China reopens its digital doors to the crypto crypto how would China opening it I'm so confused we need to read that again about eight questions right so the FED has quietly admitted that Gold's replacing the US dollar how who said that quiet I miss that if that's but then Brock Pi said it's only a matter of time for China reopens its digital doors to crypto is another thing okay how would China opening its doors back to crypto affect Bitcoin and is this a possibility I think you might see China open the doors back to bit Bitcoin might see the on a Bitcoin ban we need to well we need to get this straight as well there was never a Bitcoin ban it's a Min b a Bitcoin mining but there's a Bitcoin energy ban semantics yeah but it's true so you you also companies there wasn't allowed to be a company there that was able to offer the sale of Bitcoin the use of Bitcoin has never been banned in China as far as but you did see all the mining move out right the mining moved out but that's nothing to do with so what these guys are um referring to in terms of actually basically which is always the price is the price going to go up if China open the doors yes why wouldn't it it's supply and demand you go back to supply and demand situation opens up a bigger Market without increasing the supply yeah if nobody in China owns Bitcoin and you open up to the whole of China there's how many is it 1 Point some billion now people in China I don't know how many people I think it 1.2 or some like that a lot 1.4 billion um yeah I mean it doesn't take rocket science to work that one out I don't think um of what that is it gets back to our thing about National Security I don't think China can allow America to dominate well and any one country can dominate so China should have to open up if people see it like that yeah they already are areny I thought that was the whole thing they've creating a regulation around it that's what they're doing that's Hash Hash rate returning to China and don't know if the hash rate so it's nothing to do with mining still band yeah don't I don't think they're touching on that but but if they're going to well if they we're talking about hyp ofal uturn so they the mining could go back to China directly yeah yeah not being arms race to get the the mine in there um so yeah I think that will be a political Play From China at some point um but that doesn't affect price which is what I think people are asking about here um the bit about the FED quietly admitting that gold is replacing the US dollar was the found an article in for I don't think that's true unless that's some how do you quietly admit something says the FED now admits some countries moving to Gold Tech adest and oh some countries okay it's a treasury Reserve that's probably true then I thought they meant like it's replacing in the US thought you thought a transactional value even just store it like what yeah probably needed more content we've been seeing that for a while now in like Middle Eastern areas and stuff in Asia um do you think China could U-turn that I think I think they they are I don't understand have I missed something here have I missed that they are yeah I think has everyone missed that they are they're bring out regulation for Bitcoin companies for exchanges all right as far as I'm aware I thought I've seen this I have not seen yeah did you dream it maybe I did J it's all January February stuff maybe it's not made the news yet what youing he's he's speak into the Communist Party in China direct links I'm sure cool yeah so you go byit open to China as well despite regulatory hles yeah does that mean they're legally open to China yeah just because the other article said they move their staff from China to Dubai okay so we're not sure about China we're not sure don't think China is sure about China but we don't think it'll be a bad thing if if they did totally reopen to mining are we talkinging are we talking just Bitcoin everything there there's two wi two wider topic right fine leave it there then we one for next week manag to make him shut up one last said Danny want us to mention us updating our nodes updating nodes guys no you do need to know but it was actually something else yeah no it was meant to be a it was actually meant to be a topic but yeah no just in terms yeah if anyone is running the Bitcoin node with Bitcoin mhm update that to the latest version uh because there are some vulnerabilities um being disclosed in a week yeah a week or two or something um on some of the old version of the Bitcoin core um which we're just waiting to see what they are we're not sure with you okay well we have a idea good little service there finish finish on a service to the public nice one all right cheers guys thanks guys peace peace [Music]