This is a transcribed model of the “Bitcoin Magazine Podcast,” hosted by P and Q. In this episode, they’re joined by Jimmy Song to speak about bitcoin adoption in El Salvador.
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Transcript
[00:00:06] Q: I’m excited to introduce our visitor for as we speak. None apart from Jimmy track, Jimmy, thanks for becoming a member of us. How goes it?
[00:00:14] Jimmy Song: It goes, nicely, I simply got here again from El Salvador educating some individuals there, Bitcoin programming. So it is good to be again residence. And , right here with you guys, in fact, I’ve to return again.
[00:00:24] Q: I respect you reducing your journey to El Salvador quick, simply to grace us along with your presence. How was it, man? We noticed some footage. You have been down there with Max and Stacy [Keiser]. And speak to us slightly bit first about simply what what’s, what does El Salvador really feel like in a bear market?
[00:00:40] Jimmy Song: Well, it is attention-grabbing. This was one thing that I used to be telling Max and Stacy, I used to be there six months in the past, issues have modified. Like, you’ll be able to see issues being constructed and stuff like that. There are bike lanes there now, which weren’t there earlier than. They’re like, yeah, they put this in final week. It seems very nice. Everything is, , model new, going up and, , issues are constructing. And you, you’ll be able to simply type of see within the nation that there is much more vitality, much more constructing and it is what you’d anticipate it to appear to be if it wasn’t slowed down with, , completely different types of oppression, I assume, whether or not it is the IMF or, the M13 gangs and stuff like that.
So you, you’ll be able to type of see it so far as Bitcoin goes , there, there, you’ll be able to nonetheless pay for stuff and Bitcoin and it is, it is fairly cool. I feel there have been lots of people that type of anticipated it to develop into like a libertarian paradise in a single day. It’s not fairly that quick, however I imply, it is, it is, it is changing into one thing fairly fairly shortly.
I like being there. I used to be there to coach some programmers as a result of as , we’d like extra programmers and El Salvador wants extra programmers. Yeah, it it is, it is attention-grabbing cuz like you aren’t getting to see the day after day, however once you go to, you’ll be able to clearly see progress and that is, that is what I noticed.
[00:02:07] Q: You know, we hear loads round this dialog that the individuals who most want Bitcoin as we speak cannot excuse me, cannot afford these 80% drawdowns. You’ve been to El Salvador earlier than. They’re now reeling with, , that 80% drawdown. I imagine do not quote me on this, however possibly it was round $40,000 once you have been visiting. We’re down within the low twenties proper now. So even a 50% draw down. Were there any considerations from El Salvadorians or was it nonetheless like, , this give attention to persevering with to construct this ecosystem and be taught as a lot as we are able to whereas we are able to?
[00:02:45] Jimmy Song: I do not know if I’m the precise particular person to ask as a result of the individuals I have a tendency to satisfy are very bullish on Bitcoin.
So, they’re type of gonna be self-chosen however the individuals I taught have been very passionate about Bitcoin and so forth. So I would not, I’d say that there is nonetheless numerous enthusiasm for it and there is lots of people wanting to construct there’s , the, the federal government remains to be bullish on it and every part else.
They’re caring for another issues first. Namely the gangs, I feel they’ve arrested one thing like 40,000 gang members. And they’re not type of extorting cash from just like the PPOA vendor or no matter. And that is an excellent factor. It’s including more cash to individuals’s pockets and eliminating these type of extortionist/lease seekers.
[00:03:38] Q: I feel it is a very attention-grabbing factor that, , numerous Western information retailers will attempt to painting Bal as this authoritarian chief. When actually it looks like it is simply attempting to fight corruption in his nation, so stays to be seen how issues pan out. Let’s speak slightly bit about simply type of…
[00:03:59] P: Wait, wait, I do exactly wanna soar in although. It’s not essentially that easy although, proper? I imply, he additionally has stated he’s the world’s coolest dictator, and I feel, , there are numerous authoritarian issues that he’s doing and that he would very publicly say that he is doing.
[00:04:13] Q: I imply, I imply,
[00:04:15] Jimmy Song: I feel placing gang members in jail is just not authoritarian per se. I imply, these are individuals which can be going as much as just like the meals vendor on the sidewalk and extorting them for half their earnings for the day.
[00:04:32] P: And these individuals completely ought to be, , dried and found out. I imply, I, I simply will say that a few of the movies that have been popping out, like when that originally was taking place once more, large fan of El Salvador, the World Economic Forum is completely attempting to fully screw them over.
And , I feel there’s numerous superb stuff that [President Nayib] Bukele is doing. But a few of these movies that after they first got here out across the gangs, appeared chilling. You know, it was like all people type of like there, for being compelled to crab stroll and stuff, and it was bizarre.
[00:05:04] Jimmy Song: Yeah, they’re gonna take just like the worst movies and make it appear to be that is the norm and stuff like that. And that that is the IMS playbook. You know, there, there’s an entire factor about Pegasus and the journalists and stuff like that. You have not heard that story anymore, proper? The motive why you have not is as a result of they discovered that a few of Bukele’s authorities officers additionally had Pegasus put in out of them.
So it wasn’t the, it wasn’t their authorities putting in it. It’s any person else. We do not know who, but it surely’s not, it isn’t Bukele who’s doing it, however , everybody type of mechanically assumed that it was Bukele and oh, he is this dictator that is holding tabs on journalists. Actually, we do not know who’s holding tabs on the journalist as a result of it isn’t simply them. It’s like a bunch of Bukele’s pals which have the stuff put in on them. So I like that there is numerous propaganda going round about and the IMF is motivated to make them look as dangerous as potential, 100%. But that is not what I noticed.
And , like, watch out in regards to the information that you just hear exterior of El Salvador, as a result of most people which can be pushing a selected narrative have an agenda. The Washington Post, New York occasions, these locations have a complete agenda. Absolutely, and it is to affect [Washington] DC and the lawmakers and hold this narrative of dictator alive in order that they will basically hold exploiting as a result of give it some thought like El Salvador has been exploited considerably. Some of the stuff that I discovered, for instance, they’re solely allowed to import beef from their free commerce zone, which is just like the central American free commerce zone.
I feel it is El Salvador, Nicaragua, Guatemala, Honduras and one different nation, which I can not bear in mind, however these are the one ones which have a free commerce zone. And then and, however apart from that, in the event that they wanna import beef, they should do it from the U.S. So Argentinian beef is nice. It’s grass fed, it is scrumptious and it is plentiful and it is low cost, however they can not import it as a result of they’ve this bizarre commerce take care of the U.S.
And the U.S. can have these very unfair type of guidelines round stuff like that and hold them persevering with to be oppressed due to the connection that it is capable of implement by the IMF loans. They’re lastly type of getting out from below it.
And, , that is type of what occurs. It’s like the meat that I ate there, cuz it was largely from Nicaragua, however I’d like to eat Argentinian beef. That’s like not stuff, , like why, why is not that out there? And that is not the one one, there’s all kinds of stuff.
Particularly round meals exports and stuff, which the U.S. completely takes benefit of. There’s a motive why there’s this narrative of Bukele being a dictator. I’ll inform you although, that there are 6 million individuals in El Salvador, there are 3 million exterior of El Salvador.
Most of them are within the U.S. and Bukele has as excessive or larger approval score among the many diaspora than he does at residence. So that tells you one thing that is, that is not the case for, , Raul Castro or, , [Cesar] Chavez or whoever. That’s a really, very completely different factor.
[00:08:32] Q: You know, I feel additionally, and I do not need to go too into element as a result of, I’m admitting that and possibly, possibly this may maintain me accountable. I’m attempting to do a little analysis on a possible article, however there was a giant narrative about 20 years in the past that the president of Singapore was this authoritarian chief who ought to not be trusted and we should not be doing enterprise with them.
And , should you had invested in Singapore of their progress 20 years in the past, you’d’ve made a really, excellent wager. And I candidly suppose the IMF is working a really comparable playbook in opposition to BHA and El Salvador that quick ahead in 10, 20, 30 years, persons are gonna be like, oh shit, El Salvador was a no brainer.
Just like doing an funding in Singapore now. I imply, at this level now Singapore is sort of overdone. So I, I do suppose that there is a massive narrative. There’s that chart that Bloomberg posted of the 19 subsequent international locations that might default on their debt after what we noticed out of Sri Lanka. And high of the listing is El Salvador. I can not assist a chuckle.
[00:09:42] Jimmy Song: What are they defaulting on although? That’s the important thing distinction. So in the event that they default on the IMF debt, they really can type of afford to do this. Because then they will go and lift cash utilizing the volcano bonds. And that, that, which may be the course that they go in as a result of IMF loans include numerous strings connected.
You should spend cash a sure method. You can solely put a sure proportion in direction of infrastructure, for instance. And and for no matter motive, numerous the leaders in international locations that take IMF loans find yourself embezzling it, I feel it has one thing to do with the truth that it is cash from foreigners and so they do not feel that dangerous about taking it from their, from foreigners versus their very own individuals or one thing like that.
But yeah, I, I imply, I, I would not fear an excessive amount of about , stuff like that. It’s what, what you’ll be able to see on the bottom is clearly that they’re constructing and you’ll, you’ll be able to see it. And it is lovely. I used to be commenting to Max and Stacy, like there is a lodge that we stayed at that complete neighborhood.
If you stroll round. You could not inform the distinction between that and like, , a suburb of, of the United States or like, , LA or one thing like that. It’s, it is, it is lovely. Like it is nicely manicured each, like possibly the Chinese embassy has razor wire on the high, one thing like that.
But apart from that, like every part is like rising. And that is the most effective proof. I noticed that no matter they’re doing is working now, is it authoritarian? It actually relies upon what you imply by that. Because in a way that the issues that individuals complain most about are with respect to civil liberties.
But I imply like gangs which can be extorting individuals, that is, that is not likely civil liberties. I imply, the issues that often the individuals within the U.S. are complaining about are associated to. Okay, nicely, these M13 gang members , they are not given, , excellent due course of or one thing like that slightly than, okay.
Like these guys have been harassing all of those , avenue distributors and taking, , half their wage day-after-day. And now it is now they’re capable of hold their full wage, like these are good issues. If you wanna name {that a} name eliminating criminals, like authoritarianism, it simply appears type of ridiculous to me.
[00:12:19] Q: Well, to be sincere, it is lovely once you put it like that, however Jimmy let’s take into consideration this for a second. Mm-hmm whereas these criminals are doing that to the person residents, how is that any completely different than the best way the IMF is doing that to the nation itself, with the best way they’re forcing them to.
So, Hey, you need to pay us on this sure method and do these sure issues. And should you don’t love we maintain you by the balls.
[00:12:42] Jimmy Song: Yeah. I imply, it type of is, it is simply that there is not any actual recourse after that. There’s no larger authority to attraction to mainly, and that is type of, the issue is the U.S. is the dominant, it is the equal of the Supreme court docket or no matter it is , their determination it is ultimate and that is it.
And that is, that is what, that is the state of affairs now we have. And, , it is, it is gonna take a while. But I, I feel El Salvador’s on its option to like, really like rising and. Doing some good issues. And it will be attention-grabbing to see if the opposite central American international locations comply with cuz. I imply, definitely individuals in Guatemala are very .
People in Nicaragua, Honduras, Costa Rica, they’re, they’re all watching. And if this volcano bond factor goes by which who, who is aware of when it is gonna occur, however I think someplace across the one yr anniversary, which is round September , they’re, they’re gonna have money with out IMFs help, during which case then, okay, now, now they will really go construct stuff without having to remain strictly within the lane of the worldwide financial order.
[00:13:57] Q: Was there something that this journey stunned you or stood out compared to the final time you went.
[00:14:03] Jimmy Song: Well, I, I did not keep very lengthy, so , I, I actually flew there Sunday and got here again yesterday. So it was like, and two of these days I used to be simply straight up educating the entire time. So I, I did not actually get to exit or something.
But , the most important issues have been largely simply type of visible, simply yeah, issues simply look safer. I do not know. Like, it seems extra lovely. Things are constructing although these are the, these are the issues that stood out to me. And now, I imply, granted, I stayed in like, type of like a complicated space of San Salvador, however you’ll be able to type of see it all over the place.
It’s every part, everyone seems to be constructing. Everyone is doing extra stuff as a result of the dangerous guys are out. I do not know. And and , what, what the president there’s doing is making a distinction.
[00:14:52] Q: You know, now that you just’re again in America, how, how upset are you? How a lot do you simply come again right here? You’re like, God rattling it. I’m again to the identical outdated shit. Nothing modified.
[00:15:02] Jimmy Song: nicely, I I’m, I’m optimistic due to Bitcoin. I imply, I, I wrote about this within the, within the article this week. It it is , there, when you have Bitcoin, you may have this like, type of hope, proper?
Cause you are, you are not on the rat race, treadmill, no matter. And as a substitute you you are, you may have the house to consider life slightly extra deeply and attempt to Accomplish one thing that is significant slightly than, Hey, let’s simply go after what everybody else goes after, which is actually lease in search of positions.
And that, that is, that is factor. I, I do not know. I, I’m not likely upset per se ever with Bitcoin cuz the those who assault Bitcoin, they it is, it is fairly apparent to me that they’re, , affinity, scammers or no matter. I, I do not want or need their approval in any method, form or kind.
The individuals within the Fiat world, I, I do not need want or , need their approval both. It’s I, I, I really feel like I’ve a special type of mindset than numerous different individuals as a result of there’s this factor known as Bitcoin. I, and I’ve financial savings. So. I haven’t got to consider, okay, how can I make lease this month?
Or how do I make certain I’m progressing in my profession within the subsequent yr that’s according to my colleagues or one thing like that. I, I haven’t got to do any of that. I, I can simply proceed to give attention to the long run issues. For me, that is bringing sound cash to the world and that is Bitcoin and I, I can take into consideration, okay, nicely, how can I greatest obtain that?
How do I, how do I affect issues to go in in that course? Certainly like coaching builders in El Salvador is a small step in that course, but it surely’s one thing that I can try this that possibly not that many individuals can. So I, I like serious about these issues and constructing issues for the long run.
And I feel numerous different Bitcoiners are as nicely. And that is, that is, , what offers me optimism is, is that. At least on this group. You know, I, numerous my pals within the Bitcoin group, like they’re, they’re pondering, okay, how do I make it possible for I depart a legacy in order that like, , my Bitcoin turns into like, , a household that has generational wealth.
You know, we, , my title, my final title might be just like the Rockefellers or one thing from, , 100 years in the past. I imply, not like their corrupt components, however , simply the, the truth that they’re capable of final and depart legacies and stuff like that. You know, these, these are issues I, I, I feel are extra significant and I, I, I do not know.
It’s, it isn’t miserable to me the least .
[00:17:52] Q: Fair truthful. I all the time simply love going and seeing different cultures in different components of the world within the nation. I dig guess although, I feel you, when you have been in El Salvador, we have been really having this dialog. Wow. Yeah, we had it right here on BI Bitcoin journal.
I used to be like, did now we have it on Bitcoin journal areas? Where we have been type of, we talked about this concept of like, , the narrative that was fed to, to my era, that, , your era, the era earlier than U’s era was feeding saying like, , you might be something you wanna be.
And the concept of like desires and simply how, , sadly everybody simply needed to be a fucking professional-athlete or a fucking well-known film star or a TikTookay star. And then lo and behold, I feel it was James lavish who was quoted the opposite day or no, it was Luke Groman say that there have been extra individuals extra.
Individual human beings drafted into the most important league in main league baseballs draft, then graduated with a chemical engineering diploma final yr. Like that is how far we have type of fallen. And I feel that truly feeds into slightly little bit of slightly little bit of what you talked about in your most up-to-date piece, how changing actuality with Fiat falsehoods destroys assembly and simply the concept of like, the place is our goal coming from and what, what’s actual from the, the figments of our creativeness that we have created?
[00:19:16] Jimmy Song: Hmm. Yeah. And and it, it was, it was a enjoyable piece for me to jot down as a result of it it is type of like. Conglomerated numerous the opposite issues that I had been writing about. And I spotted like numerous the values that we get taught usually are not from household anymore, as a lot as it’s Fiat schooling. So you are taught what to imagine and the way to behave.
And what’s good and what’s dangerous from college, proper? Like, you are, you are instructed, okay. You know, thi that is what, , being citizen means slightly than here is who you might be as a member of this household, that, that was a a lot stronger a part of your identification. It’s it actually has type of like equalized and, or diminished over time the place individuals do not establish with their household a lot as possibly the college that they graduated from.
And that that is extra their identification and it offers type of like a taste of what you may imagine and so forth. And it it is, it’s extremely uniform. It’s very conformist. It’s very type of standing and emphasizing compliance to the state, one thing like that, slightly than I feel a household identification, which is far more based mostly on loyalty and love and, , household identification, if you’ll which are usually loads.
Stronger as an identification as a result of , you, to begin with, you share numerous genes and stuff like that. So it is a, there there’s type of like a, a organic element to your identification. That’s not essentially there once you’re, , graduating from a category it is, it isn’t like ideological as, or it might be, however like, , there, there’s type of like a bodily organic element to your identification inside household that that is type of lacking in Fiat schooling in, in our type of like haste to make every part equal.
We’ve type of eliminated numerous which means. And it has been taken over by Fe the Fiat system to basically make everybody like drones or one thing, , like, very compliant cogs within the Fiat system. You know, that Fiat corporations and Fiat politics all, all of these type of like. Are the variations of issues that we’re purported to get which means out of.
And actually all, all three of these are very empty. They’re largely round compliance or lease in search of or , getting artificially outraged or one thing like that. And these usually are not actually good sources of which means as a result of what’s there as we speak is gone tomorrow. They’re, they’re all very quick time period, very excessive time desire issues.
Whereas, , , household, group, faith, just like the, these have really created issues which have lasted a really very long time. And it is, it is a lot simpler to get which means out of these since you’re contributing one thing to one thing that is greater than your self that is not going away. Right. Like that, that, that is a, that is a vital and.
Thing for most individuals and , writing about it and seeing the way it’s associated to all of those different issues. It, it, it led down to love this concept of the basement, the concept, , Fiat cash is the bottom cash and Fiat, which means is the bottom which means Fiat or schooling is the bottom schooling Fiat, , corporations are the bottom communities and, , Fiat philosophy is actually the bottom faith.
It it is, it’s extremely , it, it removes type of just like the meat or the, the, the actually priceless components and leaves you with type of just like the husk or one thing. And that, that, that is what I feel most individuals discover. So unsatisfying about trendy life.
[00:23:17] Q: How very like, and I do not imply to harp on this, however I’ve a giant perception that the best way our schooling system is designed, it is designed to create these inconsiderate robots that simply full duties at hand, with out actually pondering by what must get executed. How a lot do you attribute issues like our public public schooling system to feeding and perpetuating the Fiat system to then develop into precisely this like inconsiderate individuals who simply type of do what they’re instructed to do, as a result of that is what you have executed your complete life.
Hmm.
[00:23:49] Jimmy Song: Yeah. And, and it is really even worse than what you say. Cause it isn’t nearly compliance to the state. It’s, it is supplying you with type of like trinkets to go after. So, , should you’re in highschool, what do you wanna do you need to get into faculty, possibly an Ivy league faculty, possibly Harvard, proper?
Like, after which when you get into Harvard, what do you wanna do? Well, You wanna get to the following factor? What’s the following factor? Well, it is an funding banking job at Goldman Sachs, proper. At a university, or, , possibly you go to legislation college and attempt to get a place at a high tier legislation agency, or possibly you go to med college and get into a extremely prestigious residency program.
And, , I imply like these it is it isn’t similar to meaningless cogs in a wheel it is cogs that seem significant, however when you obtain them, they, they actually have little or no which means. And it it is simply type of like this filtering mechanism and it is it is based mostly not on its intrinsic meaningfulness, however this, however due to a synthetic shortage that’s created by Fiat cash, proper?
Like, now we have very plentiful cash, so you need to have shortage elsewhere and it is in, , The variety of docs within the nation. For instance, I, I do not know if this, however the variety of docs that are available in yearly, so there’s all the time like retirements and money owed and stuff like that. So a bunch of docs go away from the market, the variety of new docs that are available in, that is solely managed by the American medical affiliation, they resolve precisely what number of new docs are which can be gonna be.
And they, they characterize the, , group of docs that exist already. So what are they gonna do? Well, they’re gonna make it possible for each physician that is available in has, or that there is not a saturation of additional docs as a substitute, there’s simply sufficient to cowl all people as a result of they do not need any physician to exit of enterprise.
Of course, that is like a horrible incentive as a result of in a way, like when you have a foul physician, Like it, it is type of onerous to eliminate them and there is not as a lot competitors. And, , we take into consideration why healthcare’s so tousled. That’s a part of it. It’s if all people bought to be a health care provider that needed to be a health care provider, this could be a really completely different market.
But that is not the case. It’s, it is a monopoly managed by a single entity. So you may have this type of like synthetic shortage created by the Fiat system in any respect ranges. Whether it is faculty or, , Fiat corporations or these extraordinary like achievement issues. And the ironic factor is just like the those who get them really feel so proud that they’ve, proper?
Like the, the PhD from Harvard or no matter it is thought-about tremendous prestigious or no matter. But like most of these are literally like essentially the most Rente of the lease seekest and like, they most likely have great quantities of capacity, however. It’s being channeled in direction of these Fiat video games slightly than to the market with entrepreneurship and stuff.
Like you, you may have all this expertise and also you’re, you are gonna spend it like doing postdoc after postdoc and academia, slightly than like attempting to invent one thing that could be helpful to the market. Like the, that is, this is the reason the Fiat system is, has been so, , draining to to every part. It, it, it sucks the creativity and vitality and life out of virtually every part together with the very those who it is supposed to assist.
It, it, it, by Fiat schooling and Fiat corporations and Fiat politics and every part else similar to demotivates them tremendously places them mistaken incentives in entrance of them and makes them. Play video games that actually individuals do not wanna play. Right. Politics. And, , I imply, should you’re, should you’re an instructional you are, you are writing grant proposals on a regular basis.
You’re, you are spending like, , many months writing a freaking grant proposal slightly than doing the factor you like, which is, , attempting to determine, broaden the bounds of human data and that that is and should you’re, should you’re in a comp, should you’re a coder in an organization, I can not inform you what number of occasions I needed to be in ineffective conferences, not getting to truly code or write software program.
It’s it is , arguing about what options we should always have and no matter it, I imply, that is what Fiat issues do is it sucks the life out of them.
[00:28:16] Q: You imply to inform me that employees assembly that might have very simply simply have been a gathering or an electronic mail. that that is use of your time, effort and vitality.
I fucking used to hate that. I really like sidetrack slightly bit, however like in, in my Fiat days, in my Fiat profession, prefer it was actually earlier than COVID attended within the workplace was necessary for 99% of jobs. And I bear in mind as soon as I turned an agent and also you type of, you now had entry to your pc out of the workplace.
I bought my laptop computer set as much as the place, okay, now I can entry just like the softwares that we use within the workplace, all my private laptop computer. And there have been a pair days the place I simply bought pulled into all these conferences on the opposite facet of LA. And I used to be like, I can both drive again into the workplace or I can simply begin working remotely and my bosses signed off on it.
And then there, there have been days the place I’d simply go residence at two and I’d simply do business from home. And the primary day, I, the primary day I simply labored out of the workplace, I’m rolling calls with my assistant and it is like 4 30 and I’m like, wait, did we simply end every part for the day? And she was like, yeah, like at, at this level you have really made calls and executed stuff which can be purported to be executed subsequent week.
Like, we’re going forward. And I’m like, see, that is what occurs when I haven’t got everybody like swinging by the workplace, requested for like, Hey, like how’s Bitcoin doing? Or like, who ought to I begin on my followers soccer group. It’s like, fuck, I get a lot extra shit executed when nobody’s round right here attempting to fucking speak to.
But apparently that did not mesh nicely with the corporate tradition and the atmosphere. It was very very like a, Hey, do not work, work onerous, however do not work too onerous to the place you make everybody look dangerous, fucking silly ass, dumb ass. I’m nonetheless salty.
[00:30:04] Jimmy Song: Yeah. I, and also you type of ought to be as a result of I imply, that, that, that type of sucks the life out of you, proper?
Like when, when when you may have these like political issues that you need to take care of, it, it like drains all motivation from like your regular work, the, the precise productive work that you just should be doing. And the, that is the Fiat illness it is due to the presence of the cash printer due to the can on results, politics simply turns into far more necessary.
And , complete corporations are sustained by type of, political maneuvering and so forth. So, I imply, take into consideration like each airliner I wrote about {that a} lengthy some time in the past. But they they’ve all gone bankrupt a number of occasions. The solely motive they exist is due to authorities subsidies, however that is additionally why they’re so poorly run and why now we have all these delay.
Like I, I flew again yesterday, we had a 3 hour delay and and the flight attendant instructed us what occurred. And it was like one bureaucratic mess after one other, the, it was delayed three hours as a result of the aircraft that was purported to get to San Salvador could not take off. And the explanation why I could not take off from Miami was as a result of the pilot seat spring was damaged.
So they needed to change the whole seat. Now I, I’m not a pilot, however I feel you’ll be able to fly with the spring and possibly, possibly repair that in a single day as a substitute of like delaying all people. But that is what they needed to do. And then they discovered one other problem. There was like a dent in one of many Propellers, I assume, nicely, not, not it is a jet engine, so it is a, it is a metallic half that had a dent.
So they needed to change that. But that wasn’t the issue. I imply, they, they need to try this. Of course. The, the issue was that they crammed out the paperwork on how they accomplished it incorrectly. So that brought about one other hour delay. And then at that time, the pilot had labored some like 15 hours in a row.
So they, they there’s like some regulation that claims you’ll be able to’t work greater than 17. And the flight would’ve taken two hours. So like, it, it will’ve gone over the restrict. So they needed to name in one other pilot. That took an hour. And then there have been flight attendant, union guidelines, which stated that you would be able to’t work so many hours in a row.
And two of the flight attendants would’ve labored too many hours in a row. So they, they needed to be flown again in line with the union guidelines and so they needed to get, so all of that took like three hours and it wasted an entire bunch of time due to all of the Fiat regulation stuff. Right? Like, and this, this type of stuff is so typical of something Fiat associated.
It’s all political. There are type of like, type of bizarre guidelines that waste numerous time and issues like that. And that, that that is, that is type of what it got here, involves. It’s a, it is a unhappy state and it drains all, which means it drains life. It drains like motivation. It’s it is no marvel persons are depressed.
You’re such as you, you get caught in like, type of bizarre pink tape than. You keep in type of like a, you get into increasingly of a Kafkas world. It it is , it will get very miserable.
[00:33:18] Q: Let, let’s hold diving down these RA rabbit holes such as you you introduced some type of parallels to, I wanna watch out how I say this earlier than YouTube shuts down our account a European quote, unquote energy that got here to be within the thirties, into the 40s. That was possibly the enemy of world conflict II and draw some parallels to what they did to what, a few of the selections, not the entire, simply a few of the determination the us authorities is making.
Can we unpack this slightly bit and, and, and dissect that,
[00:33:50] Jimmy Song: Just why I imply, Essentially what the us is changing into is it is changing into extra of a centrally deliberate financial system. And and we’re, we’re entering into that course. And, , sometimes that is known as socialism and that is from Carl Marks who stated that after capitalism, there can be socialism and after socialism, there can be communism.
And, , socialism is often understood to be just like the us Sr or one thing like that. But really there’s that is simply the leftist model of socialism there’s , politically proper variations of socialism, which lots of people name fascism, but it surely’s the identical. It’s it is Government management of companies slightly than like direct authorities management of every part, which is extra the leftist model.
And , actually, that, that was what Nazi Germany did. That’s what numerous different international locations did. And , us tends to go extra in that course. You need not look a lot additional than the healthcare system. There’s an entire paperwork that that’s, , medical insurance, that, and these are, , there’s like six large conglomerates that management most of it.
And they they’re like type of a tax that you need to pay if you’d like healthcare in any respect. Or even should you do not want healthcare, you continue to should pay them. It’s, it is, it is this very very unusual system. And it it is arrange that method as a result of it is, it is a type of central planning. And that is. So sadly the course that the us has been entering into ever since 1971, and even earlier than that, I assume the start of the fed and so forth was very a lot that every state may decide what they needed to do now.
It’s all so centrally managed that, , like Caitlin lengthy has to Sue the, , the fed to get a banking license. I, I imply, it is, it is, it is ridiculous. The, that is, that is what central banking central plan economies appear to be. And , the extra I write these articles, the extra I understand like each certainly one of these it is like, okay, that is precisely what Soviet Russia did.
or communist China did and it is, and so they’re spinning it as factor. It it is simply so unusual. Cause it is so apparent that it would not work, however you retain attempting it.
[00:37:03] Q: How like, On a scale to only really I’ll simplify it. On a scale of 1 to 10, like present legal guidelines and laws in place within the us, how socialists are we?
10 being the leftist paradise of the us and one being communist China.
[00:37:30] Jimmy Song: Wait, I dunno if that is really truthful scale. That’s not the precise scale. Both ends of the dimensions are like tremendous socialists. So that proper. You’re
[00:37:37] Q: proper. I retract one being the free market, pure capitalist market that we don’t even have.
Sorry. Did I get put
[00:37:46] Jimmy Song: biased in. Yeah. So I, I, I’d most likely put it at like seven it is, it is fairly managed financial system and we do not have something just like the anarchical capitalist, libertarian paradise that that I feel can be a one or one thing like that. And we’re not anyplace close to it. I possibly like Eighties, Eighteen Nineties.
We have been like 4 or 5 three or 4 someplace round there. But proper, proper now it is it is, it is gone far more in direction of socialism. Yeah. And that is, that is, it is the place we’re nowhere close to that.
[00:38:23] Q: What, what are issues that you’re keeping track of out of any authorities officers, whether or not it is federal state stage or native that might be a step in direction of that quantity 10 .
[00:38:36] Jimmy Song: Well,
[00:38:38] Q: when are, when are Jimmy’s warning, warning flight lights, and sounds
[00:38:42] Jimmy Song: gonna go off. Yeah, common primary revenue common healthcare common housing a C B, D C.
Yeah, I Mo most factor, no matter you are getting without spending a dime, it’ll require numerous coercion in an effort to get, proper. So, , when you have free healthcare, for instance, or, otherwise you, , the federal government says you may have a proper to healthcare. Well, that signifies that any person has to supply that service.
How are you gonna drive them to supply it, particularly if you do not have sufficient labor and thi that is what each nation with like, socialized medication finally ends up being is they do not have sufficient docs or they are not paying them, or it is all centrally managed. So the docs are all the time like, what, what the heck?
And not getting paid sufficient. So they’re going to transfer to the us paradoxically sufficient, as a result of. They may receives a commission extra. Why, why would you keep in a rustic? That’s not paying you very nicely and the place you you are basically compelled to work for a wage. That’s not likely voluntary. There there’s coercion concerned everytime you’re giving stuff out without spending a dime.
And that is the opposite facet of the equation that I feel lots of people do not realize. And the factor is these items aren’t free anyway. I do not know should you bear in mind throughout COVID, but it surely was oh all, all these individuals that aren’t taking vaccinations, they need to, they need to, , like, we should not allow them to into emergency rooms.
We should not deal with any of their wounds and we should not give them any healthcare. It’s like, yeah, that is precisely how free stuff turns into like a mode of compliance is should you do not do what we are saying, we’re gonna take stuff away that’s purported to be free. And I, I do not know if I instructed this story on, on, on this present or not, but it surely’s most likely value telling once more I, I used to be speaking to Taho the north Korean defect.
And and I used to be asking him, Hey, what, what, how did North Korea come into? Or how did Kim Jon Kim track like consolidate all this energy? He stated, simply gave stuff away without spending a dime. That’s what he did. You know, at first it was healthcare, then a assured job and housing, every part else. And he gave him, he gave all of it away without spending a dime.
And in fact, in an effort to construct all that stuff, you needed to draft all people and everybody turned basically a authorities worker. And at that time it was okay, nicely, , you’ll be able to have free housing, however you need to do what the regime says. And should you do not comply with our guidelines, then we’re gonna take your home away.
We’re gonna throw you into a jail camp or one thing. And that that is the, that method lies listening to me. And should you’re speaking about stuff like common primary revenue, nicely, who who’s, it is clear, who’s benefiting, however who’s hurting nicely, It’s all people else that will get diluted on account of all that cash that bought printed or the those who bought taxed to pay for it.
And that, that that is the place coercion is available in. You cannot give away free stuff, except you are taking it from any person else otherwise you coerce any person else into offering that service. So that for me is the most important indicator of the March in direction of the communist socialist method of presidency. And that is not a contented place to be and, , ask anybody that lived by communism.
It, it it is, it isn’t good in any method, form or kind. So yeah, that, that might be my main indicators. But yeah, it is all of the, it, it all the time comes with type of like good sounding rhetoric. Don’t you need healthcare for everyone? Don’t you need everybody to have their very own home? It’s like, Yeah, these are good issues, however who’s offering people who, that, that is the factor.
If, except you’ll be able to conjure it out of skinny air which you’ll be able to’t, you are both stealing from any person otherwise you’re forcing any person to do it. You cannot try this. And and you need to take a look at the opposite facet of the equation and should you’re not taking that under consideration, then you definately could be a socialist.
[00:42:39] Q: I’m not feeling spicy sufficient to chew
But, however I wanna, I do wanna contact on and, and possibly ask you to type of,
we had an extended dialog with CK yesterday about this concept that, , Bitcoin succeeding has. It can both totally succeed or it’s going to fail the place it sits proper now on this type of like center, possibly together with all the opposite crypto bullshit and gold remains to be being talked about. And then you may have Fiat simply working rampant.
It will not exist on this ecosystem eternally, however it could actually actually solely exist in an ecosystem the place it’s the final factor, or it simply fails completely. I wanna give attention to the, when it really involves coming into energy. You know, one of many issues we talked about yesterday was this concept that within the Fiat system, individuals disguise a lot wealth of their homes.
And , the concept he continued to push that I do not essentially agree with is, , the price of housing will develop into less expensive on account of transferring off of this Fiat commonplace and transferring onto a extra Bitcoin oriented world.
Do you agree with that kind of, type of by line that, , housing normally can develop into extra inexpensive when you take away, as soon as we take away ourselves off of this Fiat
[00:44:12] Jimmy Song: commonplace? Yeah, a completely. And I, I imply, you do not, you actually need not look additional than like a spot like Vancouver or New York or Toronto or one thing like that.
Large variety of these homes have been purchased by Chinese individuals which can be attempting to retailer their wealth. If you take away extra that demand that like retailer a worth demand and so they they’re shopping for it as a result of they do not suppose their money goes to carry their worth. Whereas actual property is should you take away that demand, then in fact, if like the value drops, proper.
And , you do not, you most likely haven’t got almost the provision both, however however , prefer it’ll be much more inexpensive. What, one of many issues about actual property although that. That actually wrinkles me is simply how regulated it’s. But on the similar time, how type of like cheaply, every part is made.
And that is one thing that I touched on within the Fiat actual property piece, however so, a lot of the actual property proper now could be like not constructed completely. I imply, it is , you take a look at medieval stuff, it is , numerous that stuff has lasted cuz they constructed it outta stone. You know, the, the properties that we dwell in, , it is gonna final possibly 25 years after which it is gonna be, , crushed as a result of any person needs like a more recent designer factor.
It’s type of like wasted work, proper? Like if, should you can have a home that may final 100 years, all of the rebuilding, all these supplies and stuff can go in direction of one thing else and construct one thing cooler. And we’re not likely like increasing expertise or something like that. We’re I imply, possibly there’s slightly bit on the 3d printing facet or no matter.
however however , due to this synthetic demand of actual property, there’s not likely that a lot incentive to optimize issues very a lot, cuz everybody’s making a living. And that is the factor just like the, the analogy I’m gonna give is like, in contrast this to Bitcoin mining, the place should you’re an inefficient Bitcoin minor, you’ll exit of enterprise.
If you are, , you need to be like type of hyper-environment friendly and really, excellent at what you do in an effort to survive. As a house builder, you do not, you do not really should be that nice. such as you, you simply, you simply cuz there’s simply a lot demand you, you can simply type of be like mediocre and nonetheless make tons of cash.
There there’s not sufficient strain to optimize or innovate or , make issues extra environment friendly as a result of the best way that. Real property is it is closely regulated. So you type of should construct a sure method. And and , getting a allow, for instance, to do like a 3d printed home is like gonna be very, very troublesome that nearly each jurisdiction, as a result of the, , individuals in cost will not need it like that.
There, there simply is not that a lot room for any of that, as a result of, , there there’s all this synthetic cash simply type of coming into actual property. So , all of that mixed and, and regardless of all that, , properties have not less than like constructing supplies and expertise. I imply, individuals dwell in like rather more per particular person sq. footage than they have been like 50 years in the past, as a result of , that, that is the factor that is most necessary to them.
A there, there’s some innovation there. There might be much more innovation. I feel what, as you type of optimize and put pure market forces towards it, and yeah, I feel it will get extra inexpensive on two fronts. One it will be extra inexpensive as a result of there will not be the synthetic retailer of worth to them, however there’s two, there’s this O different type of course of innovation and higher supplies and, , issues that last more and issues like that, which, which come on account of a extra Bitcoin commonplace persons are simply not gonna pay for crappy constructed homes.
They’re gonna pay for those which can be gonna final a very long time and that they will move all the way down to their youngsters. And I, I, I feel that is the, these are the 2 type of like opposing forces that ultimately make housing far more inexpensive than it’s now.
P P you are muted nonetheless. Oh my God.
[00:48:25] P: Thanks for for letting me know, you are saying that mainly, as we transfer nearer to a Bitcoin commonplace there can be stronger incentive to make use of longer lasting constructing supplies.
[00:48:35] Jimmy Song: Yeah. I imply, not similar to having longer lasting actual property, but in addition , simply higher tech, development strategies and stuff like that.
It what, so, one, one attention-grabbing anecdote that I, I examine just lately that, that struck me was in direction of the late Roman empire they needed to construct like new buildings besides like numerous the data on the way to construct these buildings. Like we’re misplaced. So what they ended up doing was , taking components from outdated buildings to creating them once more to, to make new buildings.
Oh shit look. Cause as a result of they, they only did not, they type of stopped innovating cuz of all of the, the. Dilution and lease in search of and all that stuff. Wow. Like, would not it really feel slightly bit like we’re going that course, particularly with one thing like airways, proper? Like airplanes haven’t improved in 50 years, like in any respect.
I imply, yeah, possibly you get wifi on board now, however however actually it is took like
[00:49:33] P: many years, wifi I’d been round for like 10 years earlier than they have been like, all proper, high-quality.
[00:49:37] Jimmy Song: Maybe should you’re like, however, however the precise planes, they do not go sooner. They do not, , they do not have bigger capability. They do not prefer it.
It’s, it is the identical expertise. Right. Like it, and it is we we have misplaced numerous, and we, you alluded to this earlier with the petroleum engineers versus the variety of individuals drafted into main league baseball. I imply, we’re, we’re gonna begin dropping a few of the progressive concepts and like, as a result of there’s a lot of a mind drain into.
Rent in search of careers. I imply, most of them are going into wall avenue and doing, being funding bankers as a substitute of Lockheed Martin to enhance , jet engines or to give you a totally new design that is like a lot sooner and runs on like a special type of gas or, , uranium or one thing, , like these, these are all potential.
Just, no, one’s, we’re, we’re simply fully stagnant on, on these fronts due to Fiat cash there. There’s a and I think about that is the case for housing as nicely. There, there’re most likely method higher methods to do stuff. It’s simply, , the, the individuals which can be constructing construct precisely what they know and that is it.
There, there, is not type of like innovation going into that. You’re not placing brains in direction of that. The, the brains are all going in direction of, how do I get individuals to click on a number of extra adverts? You know, that, that, that is what they’re doing as a substitute of. How do I make this industrial materials like final, longer and simpler and mildew extra, a number of, and simpler to deploy and all that.
Like, tho these are issues that might really enhance housing tremendously, however as a substitute, , all, all these mind cells are going in direction of, how do I extract, like a number of extra sense from this man from every viewer of this text or how do I get them extra hooked on porn? So they’re going to pay us more cash or how do I , make this sport extra addictive.
So they’re going to purchase all of the, , trinkets that go together with it like that. This is what financialization does. It’s, it is, it is it encourages this type of like lease in search of conduct, which does not essentially add very a lot the, the issues that might add a ton, , like making a nuclear powered.
Super Sonic jet or , I do not need, I need that like housing or a 3d printed home that may go up in a number of days and final for 100 years, like, like these are issues that I feel can be very helpful, however only a few persons are engaged on them, comparatively talking. Most individuals would, numerous these persons are as a substitute, , Hawking all cash or , being an funding banker or I do not know, like simply very Rente key positions that do not do something.
That that is what they’re targeted on and that it is a it is, , it is in the end type of meaningless to go do these, however they pay nicely as a result of Fiat subsidizes them. So that is that, that is the state that we’re in. Interesting.
[00:52:49] P: Well, we’re nearly at a time. I, I really feel just like the. . I imply, I agree with you on, on numerous what you are saying.
I really feel like possibly there’s, you are portray with like barely too broad of a brush across the classes of issues which can be like, , like Fiat incentivized. I really feel like what I used to be gonna ask you want a query that might’ve taken like quarter-hour to reply, however I I assume may try this.
You draw, the place do you draw the road? Like, how are you figuring out what’s type of like lease in search of particularly due to a damaged financial system, which we clearly dwell in a single, proper. Versus issues which can be I do not, I do not, I do not know, like issues which can be mainly simply market dynamic. And, and I’m type of going the course of like backed industries or industries, as you stated, which can be like bailed out always versus mm-hmm non ones, however I do not know the way to attract that distinction.
I’m curious of you.
[00:53:36] Jimmy Song: Yeah. And I I’ve considered this loads and I I’ve come to the conclusion. There’s there’s not a very simple or clear line that you would be able to draw. as a result of every part is interrelated. The motive why individuals need to play video video games and watch porn all day is as a result of their jobs are meaningless and do not contribute something.
And their their ethical character has been debate together with the cash. And that in flip incentivizes extra lease in search of type of jobs the place, , persons are. Making stuff that do not contribute something. So it, it is all type of like interrelated and it is onerous to say precisely how a lot is strictly from Fiat cash.
How a lot is simply type of like common ethical character de degradation from the degradation of cash and the way a lot of it’s simply, , partisan politics or, , different issues or the consequences of expertise or no matter. I, I imply, all of it’s associated. I, and I, I, I imagine that , character degrades together with the cash, I imagine that , supplies and on a regular basis issues that we use the grades together with the cash and, and every part else.
So it it is , the place do you, the place do I do not I do not actually draw a line. I, I do know that Fiat has not less than one thing to do with all of these items. And it, it, if it isn’t fully accountable, it not less than contributes to it considerably by kind at, on the very least a excessive time desire conduct of all people.
Which, which is the results of the cash, the basing so shortly. So, , all that’s to say that, , I, I simply type of do paint it with a broad brush as a result of I feel it’ll hit extra so than it would not , I might be mistaken and I I’m pleased to be pleased for individuals to level out the place I’m.
But , the, the, the sequence of articles has all been about, okay, nicely, let’s take into consideration this. How does Fiat cash have an effect on this factor? And you can nearly chase every part again to it. It’s type of unhappy, but it surely actually is type of a root of all types of evil.
[00:55:48] Q: Yeah. I feel I’ve exited the matrix. I feel I’m, I’m now again, I talked an excessive amount of. You come again to us. I talked an excessive amount of of that. The Kosky twins and I bought caught up within the matrix, however Jimmy, I do wanna simply, I, I do not imply to love, simply go for the most important story on Twitter, however , we’re a scores pushed present and that is how he and I acquire our stats.
What, what was your preliminary intestine punch response or simply, did you giggle audibly loud once you heard about Elon Musk and Twitter promoting their Bitcoin?
[00:56:15] Jimmy Song: No. I imply, I did not giggle or something. It was like simply type of, I, I feel this was his transfer. The complete time was at any time when he can be in monetary hassle, let’s go and do that.
Right. Like, and he anticipated Bitcoin to be going up in worth. So he’d appear to be a genius and, , individuals can be extra extra forgiving of what occurred, however he needed to promote at a loss. So he seems slightly bit extra silly now. But the, I, I feel this was his plan. The complete time was to dampen the volatility.
And it naturality, if you concentrate on like, Tesla inventory worth versus versus Bitcoin, I feel he really made out higher storing it in Bitcoin than in Tesla inventory. So, , should you consider it that method, like the choice, I assume would’ve been to do like a buyback of the inventory or one thing like that, which might’ve basically been that.
And it, it will’ve, it most likely would’ve gone worse. But. Yeah. I imply, he he is he is a type of lease seekers. I feel like, if you concentrate on it, he is gotten so many subsidies off of, for his vehicles and stuff. And I imply, his firm’s not doing very nicely. You know, like they, with out that Bitcoin sale, they’d’ve misplaced some huge cash.
Of course in addition they have some huge cash, however yeah. I imply, that is these, these are Fiat corporations. Like it is, it is simply type of loopy. I, I did a calculation for Coinbase the opposite day, proper? Like simply attempting to determine like what their monetary state of affairs is. And I do not know, possibly, possibly this may get your scores, however let’s, let’s simply do the mathematics.
Right. They did an 18% layoff and so they gave some numbers. It was like 1200 individuals, one thing like that. So that should you, should you do the mathematics, that signifies that they’re left with about 5,000 individuals, 5,000 individuals in Silicon valley. Now let’s similar to, Estimate how a lot that is gonna value. You know, a few of them are gonna be name heart individuals, however others are additionally gonna be like principal engineers and stuff.
So I do not know all with healthcare, 401k inventory grants and choices and all that stuff. Let’s simply say that is about 200,000 per particular person. It’s a couple of billion {dollars} a yr, simply in personnel, a billion {dollars}. Right. And that, that does not embrace servers, regulatory stuff, promoting , all, all of the software program licenses, you need to pay all of the buildings that you just’re renting, all of the perks that you just’re giving to your engineers, together with the cafeteria meals and no matter it would not embrace any of that.
So, and also you, you embrace all that. It’s like, huh? Yeah, I can, I can see why they’re, they’re most likely going to be extra compliant with the state going ahead as a result of they’ve $6 billion. however however , like they’re, they’ve an enormous personnel value. They have numerous different prices. They’ve most likely taken out loans and issues like that.
Like, I, I, I feel we’re type of seeing an organization flip right into a Fiat firm in actual time. And, , like they’re, they’re beginning, there was a narrative earlier as we speak about , any person doing insider buying and selling. I’ll wager you something that this particular person can be punished like loopy. And they may put in all kinds of controls and do regardless of the state tells them as a result of they’re, they, they they’re gonna want it.
they, they should adjust to the state in an effort to have an opportunity at at staying related. And , that is the destiny of each, each Fiat firm is in a way like Coinbase was. 2013, there have been like the one place you cheap place that you can go purchase Bitcoin and there, and Brian Armstrong at the moment was a Bitcoin, , fanatic and stuff.
He since like type of slowly gone down the all coin route and now they’re most likely gonna develop into like a really Fiat firm, however that that is type of just like the evolution of issues and that is, that is how issues occur.
[01:00:08] Q: So one factor, I imply, I’ll simply say the, the factor I’ll push again on JBA is I do not suppose Tesla is simply now changing into a Fiat firm to your level.
Like, yeah,
[01:00:18] P: they have been, they have been a Fiat after they hatched out of the egg. And when lengthy
[01:00:22] Q: earlier than Elon even bought them, they have been solid within the fires of Fiat hell. Like the one motive they’ve ever been worthwhile is due to the all ESG and all of the carbon credit. And I, I introduced this up originally of the present and this would be the, the ultimate level I make earlier than Jimmy, I provide the final phrase.
This is strictly what occurred within the Q3. Yeah. Q3 20, 21 earnings stories after they got here in at a fucking loss and so they have been promoting carbon credit and the one motive they have been worthwhile and their earnings got here even worthwhile was as a result of they bought carbon credit in the identical method that they’d’ve had adverse earnings this final quarter, in the event that they did not promote Bitcoin.
So the Fiat firm might be damned to hell for all I care, however Jimmy ultimate phrase.
[01:01:07] Jimmy Song: Well, I imply, my ultimate work as we speak is, Hey, prefer it, it’s type of like a bizarre time in our house proper now, cuz for no matter motive, Ethereum is pumping and I do not know, it, it all the time pains me when Ethereum pumps like this and, and nearly drags Bitcoin, together with it, it feels prefer it’s a synthetic pump.
A traditional pump seems like the place Bitcoin leads every part else. And then issues catch up later since you get individuals which can be foing or one thing like that. It’s slightly bizarre. So it isn’t one thing, one thing would not scent proper available in the market proper now. And I, I’m unsure what it’s, however , we, we simply type of have to attend and see, which is mainly the advantage of each holder you are supposed to attend and.
you are purported to have sufferers you are purported to not get affected a lot by day after day information. Like Elon did this, or, , Coinbase worker did this or no matter. The key to being a Bitcoin Bitcoin holder is to type of let that every one wash over you. And and , there are type of issues that I feel would hassle you should you have been extra anxious about issues, however should you’ve been saving in Bitcoin, you may have some financial savings, you may have a runway.
You can calm down and you can begin serious about different stuff. Like the long run, like what you are going to do 20 years from now, what kind of legacy you wanna depart. And these are actually, far more attention-grabbing and significant questions in your life slightly than is Bitcoin gonna go up subsequent week, which is what each present focuses on.
And I get it. It’s, it is extra enjoyable to speak about that, but it surely’s gonna be extra significant to speak about what you are gonna do in 30 years. So I encourage you all of the U you two and all of the viewers which can be watching the present take into consideration what’s gonna occur in 30 years. And what kind of legacy you wanna depart when on the finish of your life,
[01:03:02] P: as somebody who’s a bunch of a present that talks about what’s the worth of Bitcoin gonna be subsequent week?
I couldn’t agree with you extra. that’s the, you, you, you hit the nail within the head. Jimmy, the precise query to ask is the place will we wanna be in. You know, on the very lowest, I’d say a yr and extra probably 30. Mm. Thank you a lot for becoming a member of us, man. I I all the time respect our chats.
[01:03:28] Jimmy Song: Yeah. Thanks for having me guys.
It was enjoyable.
[01:03:30] P: Absolutely. I wanna remind everybody one ultimate time that tickets for Bitcoin Amsterdam are on sale costs. Go up within the close to future. The censorship resistant problem of Bitcoin journal is on the market in, I imagine Barnes and noble and is completely unbelievable if you have not checked it out, test it out.
It’s our greatest journal but. Really, actually implausible investigative journalism there. And. That’s all we bought, we’ll see you tomorrow. Same time, similar place. We’re gonna be doing information and notes for half-hour. And then we’re gonna dive over to Twitter areas and have a dialog about Bitcoin, the lightning community the madness of the Bitcoin house proper now.
And we’re gonna be having that dialog with none apart from Shinobi. So it will be a implausible time,
[01:04:17] Q: all that, like I’m gonna piss Chino off, however then additionally I’m positively gonna piss George off and say, ticket costs are actually going up. They’re negotiating proper now. How do I say this? It’s gonna go up a lot that the ten% low cost code to make use of BM dwell is not going to make the tickets cheaper than what they’re as we speak.
I’ll I’ll depart you with that. My pals. So lock them in first time listening to about it, the lock them in they are going up. It’s not gonna be low cost. Come celebration with us in Amsterdam. By my pals,
[01:04:46] Jimmy Song: See you later.
https://bitcoinmagazine.com/el-salvador-bitcoin-information/bitcoin-adoption-in-el-salvador-continues-to-develop
