Belief is really all that Bitcoin has at this present time. It's probably a computer science

marvel. It's remarkable. But that doesn't mean it's an effective way

to grow your wealth. It just turns out that it is though. Bitcoin right now is the number one

Can't dispute it. However, it's never been through a genuine recession. It's never actually

been through a credit event. The adoption rate right now is going faster

Yeah, and guess what? Bitcoin is also a technology. Yes, I know. A

great technology is not always a great investment. No, this is where you're mistaken. Bitcoin

is already replacing gold as the ultimate store of value. It's only a store of

value because you measure it against the USD. Once that's gone, you won't be able

to, right? If no one wanted to use Bitcoin as a store of value, then it would be worth nothing. But guess

I don't think cryptocurrency is the answer to people's problems because

It's divisible, Lloyd. It's not like a property. A property, you can't sell off a bit of

the property. You can equity loan against Bitcoin. The great thing about

I like the sovereignty of it. It's how our monetary system should be. And

that's why I'm a big proponent for adopting the Bitcoin standard as

a currency. But shit investment. Bitcoin can only

exist in its form that gets people excited to

post on X everyday about how much it's worth if the USD exists. If the

USD disappears, how will you

Well it's clear that fiat currency is absolutely dead. Now

we're moving to... what is considered a new monetary

system, which is Bitcoin, of course. And it's not just a monetary system,

it's a network, it's an energy force, and it is demonetizing

everything right now, now currently at a $2 trillion asset.

We've seen what's happening with central banks and governments printing

fiat into oblivion, which of course is

ruining everyday Australians. And there's a reason why

so many people now are looking to Bitcoin as the

answer. to their problems. And it is the answer to their problems. Because

you only have to look now across the world at the institutional adoption, the

nation states who are adopting Bitcoin, not only as a

reserve currency, just like El Salvador, USA

is now doing it, Bhutan, there's a range of countries now doing it. But even the

USA administration is now fully 100% behind

Bitcoin. And not even just the president, but you've got basically everyone in

The cabinet, even JFK Jr., he

Well, Robert F. Kennedy is the Minister for Health. He's

maha. I don't know if I'd take any investment advice off

Robb Jr., but you're 100% right, and

I agree. Fiat currency has progressively died for

over a century. That's why it's a shitty thing to own. That's

why I don't own any. I agree with you. I

don't think cryptocurrency is the answer to people's problems. I

Well, just stop there for a second, Lloyd, because you're conflating the two now.

Let's just talk about Bitcoin. Let's just talk about Bitcoin. So when I refer to

cryptocurrency, I'll just say Bitcoin, right? Because they're two separate things. Totally

get it. I don't disagree that fiat currency is dying. And

by all accounts, I'm happy for a new monetary system to come into place. I'm

I want everything measured in Satoshis. When are you going to then adopt the

Bitcoin standard? Never. And the reason why? Well, I'm

I'm happy for that. I'm happy to trade in your hat in Satoshis.

That's how they talk, Satoshis, right? It's like a hundred thousand of

a Bitcoin, something like that, isn't it? No, it's like a hundred million. A hundred million, yeah. So

if we're going to measure things in Satoshis, that's fine. I'm totally on board with

that. I'm okay with it. In fact, I would encourage it

because at least then it's not going to be deflating currency. I'm sorry, inflating currency is going to

be somewhat deflationary in terms of that

it will gain the productivity gains of the world. So let's say by GDP of 3%. So

I'm okay with that. And I know in your head, you're thinking, what the hell is he talking about? How

is he agreeing with me? But here's the thing. that still

won't detract from the fact that how you build value and how you build wealth, which

is I understand how you built it too, is not through any currencies. Bitcoin

or fiat, how you build wealth is to be able to buy productive assets

that produce income. So it doesn't even matter, like for example, let's say we adopt

Satoshi. or Bitcoin as the standard. One

of our businesses is a laundromat. And people have been asking this all the time. They

say, Lloyd, what happens when all the fiat disappears and all

the Bitcoin's going to be adopted? I'm like, I hope it does. They go, what the fuck are you talking about? I

thought you were against it. I'm like, I am from an investment asset standpoint, because

it's a shitty investment. But I'm OK with it being the

currency, because if we have a laundromat that's allowing people to

come in and wash their clothes, I'm happy for them to pay me

in whatever flipping currency we're using. And if it happens to be Satoshi's, I'm

all for it. It doesn't matter if it's seashells, toilet paper,

fiat, Bitcoin, it's irrelevant. Because how I build wealth is through investment,

So what is your solution then if it's not going to be Bitcoin? What else is there?

Because right now- I don't give a shit what it is, it doesn't matter. But Bitcoin right now

is the number one asset and it's- What do you mean by

No, I'm beating it this year to date. So my Alibaba shares are

It's the number one performing asset over the last decade at 82% CAGR.

Can't dispute it. However, it doesn't have a long history. It's never been

through a real, as you know, it's never been through a genuine recession. It's never

Bitcoin has never been tested in a global prolonged recession. Sure.

Yeah, so it hasn't ever gone through a credit event. You know, like

Michael Saylor, he famously says, whatever you do, sell

But Michael Saylor's right. And Michael Saylor, I would argue, is

actually smarter than you, right? This guy is

Yes, but my Q levels don't count towards any investment prowess.

Well, it just turns out that the smartest guy who has the highest IQ

Don't forget MicroStrategy went down by 99% in the last

dot com. He lost everything. He even got

Well, that's effectively what it is. And what he's doing is he's he's actually

so that goes back to your case then that goes back to your case then it's a shitty company

about Investing companies that can go to you wouldn't it you wouldn't invest

in micro strategy terrible company I'm talking about investing in good quality

companies to provide value to the world They sell goods and services that

the world needs and that's where they derive value the challenge with Bitcoin as

a value proposition is It wants to be two things, or

the story proposes two things. One, we want it to

be adopted as the Bitcoin standard for currency. And at the same time, we want

You can't have a fever and a thermometer be the same thing, right? No, this is where

you're mistaken. It's actually everything else is going to

zero compared to Bitcoin. One Bitcoin will always be one

Bitcoin. But because of currency debasement and

Bitcoin can only exist in

its form that gets people excited to post on X every day

about how much it's worth if the USD exists. If the USD

disappears, how will you measure the value of your crypto holdings

Well, you're right. Right now we measure it against USD as a standard. But

once USD is gone, it will be one Bitcoin more

Let's do a mind map together. Let's say USD is gone. And

How will you know what it can and can't buy? Well, what we do know

is that just in Brisbane alone, Lloyd, in 2020, the average

house was about $600,000. And it took about 20-odd Bitcoin

to buy one house. And in 2025- You only know that

because the US- And in 2025, it's now

So with the same Bitcoin, I can actually buy- Let's say, for example, in

which case, then the actual currency is houses we're using. Bitcoin

is either a store of value or a speculative asset that

grows in value against a currency, or it is the currency. Because

Well, just to be clear, it is currently used as a store of value.

And there's a lot of people who want to make it into a monetary system.

Yes, that's what the Bitcoin standards all about, right? Well, ultimately, I

do believe that it will become the new monetary system.

Once it does, it loses that speculative value. It goes. It

disappears. Because all of a sudden, there's no value in it. It measures the value of

other things. Does that make sense? So if you're adopting Bitcoin

as the standard of currency, it's what I measure the

value of my laundromat in, my real estate, et cetera. But there's no actual

intrinsic value of the currency, if that makes sense. Even the USD today,

it's only worth what we measure it against something. Once

that USD disappears and crypto takes its place,

it'll be the same thing, right? It just won't be succumbing to

inflation, which we both agree is pernicious and

it's poisonous and it shouldn't happen, right? With the supply of fiat

currency versus not being backed by anything except for the military of

the United States, right? And belief. But once that is

exchanged, How are we going to develop value? You

can't just limitlessly build Bitcoin to

Well, you can, because it's called a network. Yes, but...

So everyone is on the network, which of course the

adoption rate right now is going faster than even the internet.

You're trying to pigeonhole Bitcoin. This is why people can't get their head around it,

because it's so diverse in what it is. It is a technology. Yes.

It is going to be a monetary system. It is a great technology. And it is

Well, it's like saying the internet has value as is a currency. How

Well, the internet does actually bring value to the world, of course. Absolutely

agree. And, of course, the Bitcoin network is growing faster in

I don't invest in the internet. Well, you kind of do. No,

you don't. You invest in things that can leverage the internet. So

here's an example. Like, let's say I want to keep buying companies to build wealth because I

see how they provide value through selling goods and services. And I can dictate

the value based on how much cash they produce or how much value they

give to the community, right? Let's say you can dictate a valuable company. If

I look at, for example, Let's

call it Apple. It produces the most almost the

most value of any company in the world Yes, and people use fiat

currency to buy its products. Yes Well, if they use Satoshi's or

Bitcoin to buy those products, it doesn't take away any

value of the actual company of Apple It's still valuable.

So yeah, so it's it's it's Deriving value

from the internet of course because we buy things through the internet, but

Well, Bitcoin is already replacing gold as the ultimate store

of value. Right now, the market cap of Bitcoin is about $2 trillion. Gold

is roughly at $20 trillion. Now, because of the attributes

of Bitcoin, it's divisible, it's portable, it's

scarce, unlike gold, which it is not. Now,

I understand what you're going to say. Gold has been around forever. But of course, that whole

gold system is completely manipulated, right? I

can put Bitcoin onto my own person and take it elsewhere. So

those during wartime, back in World War II, who wanted to escape Germany,

they couldn't pack up all their gold and stuff it into their pants and walk

out of the country. Today, though, I can dematerialize all

my assets into Bitcoin, get up and walk out of the country, and

no one can do anything about it. You cannot do that. For what purpose? Because

But it's only a store of value because you

measure it against the USD. Once

that's gone, you won't be able to, right? You'll be taking, I'm going to take my Bitcoin. Well,

what's it worth? I don't know, the USD's gone. How are we going to measure it? Well, it's in this, it's

Well, it becomes worth something, Lloyd, because people want to

use it as a store of value. If no one wanted to use Bitcoin as a store of

Well, you can use gold as a store of value. I don't know about this

store of value thing. I don't think it's got enough runs on the board yet to be a class

as a store of value. Gold, and pretty

well every other asset that's been a store of value, hasn't outperformed businesses

for the last 100, 200 years. Well, gold's been one of the worst performing. It's

been terribly performing. It's not a good, it's not a good, generally

a good growth asset. And I think what's happening with gold at the present time, and I feel it's the

same little story with Bitcoin, is that this inflationary

story's obviously moving through the markets. And

China's buying a lot of gold because they're trying to dislodge the USD as a reserve currency.

And I think there's more of a chance that we'll get a global reserve

currency, not from Bitcoin, but from a digital RMB as

they continue to buy gold. And the real reason why gold's doing well is because

And it's the oldest store of value to your point earlier about like, it's

got 3000 years worth of history and data and so forth. There's more

belief in it than Bitcoin at this present time. But belief is

really all that Bitcoin has at this present time, right? The technology, great. I

mean, it's probably a computer science marvel. It's remarkable, right?

It just turns out that it is, though. And that's the

reason why so many investors, Lloyd. And you must talk to a lot of investors. And

they look at it, and they say, look, I'm in the S&P, and I'm getting 13%. But

I can have my value in Bitcoin, and it's growing at a CAGR of

60. I mean, the last year alone, Lloyd, it's gone up 100%. Yeah, but I

100% I'll beat it. Okay. Yeah, because I'm you don't just buy the

S&P 500. You can buy individual companies a blast through that, right. And

again, we haven't yet seen what will happen to

Bitcoin when an accredited event occurs. And people have already sold

their kidneys, or one at least. And sale says sell your

Already is that Bitcoin is actually the better store value. Because

compared to what? Because when shit happens, when shit goes

down, wars, COVID. No, no, no, no, no, no, no. What happened when the

world ended before? What happened in COVID when the world ended? People move their assets

What was the currency? USD?

No. What are you talking about? The currency. When COVID happened. What were

Toilet paper. So when things go pear-shaped

in the world, right? Firstly, if power goes, Bitcoin

goes. Fact. However, I

And the thing is, if power goes, then we've got bigger problems than

Well, we do. So I'm talking about end of day stuff that people talk about. Oh,

look, when the world turns pear-shaped, blah, blah. So when the world turns pear-shaped,

people will trade in barter. Barter is the oldest form of commerce, right?

And a currency, all that does is smooth out the barter process. But

people are saying right now, I'm going to accumulate gold. Okay.

That's the dumbest thing ever. It doesn't do anything. It just sits there.

And again, people are having the same argument. Yeah, but it's against the inflation hedge.

I'm like, so what? Businesses are way better at that. Businesses are

better at both of those assets, they're beating inflation. Because look at companies

like Coca-Cola, sells 800 million cans a day, increases its

price by one cent, has all the pricing power, and there's tons of

other companies like that. It completely defeats For

inflation, far better than those two other things. And I can value it. So

I know if I'm getting a good deal or not. The challenge I've got from an investment standpoint

with Bitcoin is I don't know if I'm getting a deal or not, because

I have nothing to gauge it against. Here's an example. If I was going to buy a

laundromat as a business, how do you know if you're getting a good deal? Return.

Return of what? Capital. Yeah, so the capital you used to

purchase it, you want to get that, like the old bird in

the bush. How many birds are in the bush? And what's my propensity or

time frame to get the birds back? So when is my investment going to be returned

to me? So as an example, if I'm going to buy a laundromat and it's,

say, $300,000, and it's producing $100,000 a year

or $200,000 a year in income, is that a good investment? I don't know. You do the numbers. If you're

going to buy it for 300 grand, it's giving you 200 grand net profit. It's a

good investment. Okay. How did you come to that conclusion? I'm in business. You're

a business guy, right? So how did, but what makes a good investment? Grows in value and

could also deliver a return. Yes. It's given you that capital back

like what you said early. Now the same laundromat and

let's say, wait, wait, same laundromat, no cashflow. None.

You're not producing any cash flow. Not a good business. Why is it not a good investment? No

return. Right. You don't know if you're getting a good deal. You don't know if it's worth

I don't know if I'm getting a good deal if I'm buying Bitcoin at

You're going against the grain here, Lloyd. Here's an example. You're becoming the outlier. Here's an example. The

best investment. And what I want to say this too, Lloyd, is it seems to be that because,

because I see this a lot from people, because they didn't get into Bitcoin,

what they consider earlier, now all of a sudden, they're against Bitcoin.

I just think there's a way better ways to grow your wealth predictably and

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today. Now, back to the episode. The

great thing about Bitcoin is that you can actually self-custody the

Bitcoin. Now, I'm doing this myself. I like that about it, to be honest with you. I'm doing that myself. At

the moment, you've got a big issue, Lloyd, right now with banks and governments

trying to control your fiat currency. Agreed. Terrible. Hate it.

You try and walk into a bank, what do you want the money for? Shocking. Now,

right now, I'm currently holding the Bitcoin in my own

self-custody where nobody else has control. Now, the argument might

be, well, governments can step in and ban Bitcoin, and China

has done that numerous times. But of course, it causes a black

I agree. I agree. I like the sovereignty of it. I like that it can't be touched. It's

how our monetary system should be. It should

be like that. And that's why I'm a big proponent for adopting the

Bitcoin standard as a currency. But shit investment.

Difference. However, looking at it from

a control perspective, I hope the government doesn't regulate it further. But

the reason why people are moving, as we were having a chat before about having

geographic freedom to be a tax resident of other countries, and

people are doing that all over the world, because they don't like the return on investment they're

getting from their country. In Australia here, huge taxes. So

when Bitcoin first emerged mainstream, there was no taxes

on capital gains, right? And now they adopted, oh, you're going to be paying capital

Because even the ATO considers Bitcoin a

Well, I don't know if they... I don't think... If you interviewed an ATO

employee... Well, they want to tax it. I don't know if they could

even tell you what a legitimate investment looks like. I don't think they could even tell

you what Bitcoin really is. I don't think they can tell you much. But what

they're seeking is a level of control over it already. So

I hope they don't regulate it, because I like the sovereignty. terms

of hopefully that is distributed as a currency. But let's be frank,

when the government start to lose control of things, they exert force and

control, right? So people have already been experiencing, oh,

it's not going to be regulated, can't be touched, all of a sudden, shit, it is. And

I have a feeling, like in China, as we both know, they've banned Bitcoin

there because they also exert what they ban it and then they all ban

it and then they ban it unban and ban it I'm better and they're just not too sure what to do

But I think what they're trying to do is delay the inevitable of hey, we're gonna have we're

gonna digitize the R&B the remember and

we're gonna back it with gold and so if you look at that potential

threat for what we're gonna see is a reserve currency that may have legs on

it as well and And so you're going to have all these things vying

Well, ultimately, this is where I think USA is heading, is that they will

ultimately have Bitcoin as their reserve, which might replace

gold. And you're going to think, well, I don't know, because you

don't see it as a store of value. Well, it's one or the other. It's one

or the other. Well, it turns out, Lloyd, it's actually not one

or the other. It's one and the same. It's interchangeable. It's

As it's adopted as a currency, how are you going to get a reasonable return on

I think one of the number one things that you've missed in this whole argument is that Bitcoin

has a cap of 21 million. You cannot produce more

of Bitcoin. Unlike fiat currency, you can

always dig out more gold. There seems to be a never-ending supply of gold.

There's no scarcity to any other

But scarcity itself doesn't create value alone,

because we both know that scarcity created a tulip bubble. That would help. They

So scarcity is one piece of it, right? The scarcity, though, helps the, I guess you

would argue, on the investment side of things, because more people want to buy Bitcoin,

They only want to buy it for the fiat gains. They come in for the fiat

gains and they stay for the revolution. They stay because they need other people to

Lloyd, Lloyd, Lloyd, that's clear. The reason why so many people right

now are moving over to an SMS app, just like I've done and allocated

all of my absolute garbage superannuation fund

into the number one performing asset, which is Bitcoin,

is because they're not going to survive, Lloyd. You're buying

That's another problem. So you're saying don't have a number one performing asset because

Well, right now it's compulsory, right? So the choice for people, Lloyd, is

Yeah, they have to also diversify inside the Superfund. They

still also have to have 10% alternative and other assets, right? So you could have perhaps 90% into

Bitcoin, and then 10% into something else. The challenge is,

Bitcoin is absolutely volatile, but as time

Well, I don't know if it's going to go through a 70% drawdown. It did before. It has

before, yeah. But what happens if another GFC comes down? You're 65 and

a GFC happens. Yeah, but it doesn't draw down 70%. Well, the superannuation collapses.

Well, if they're buying Bitcoin, it will at some point. So we

haven't seen a massive drawdown in the asset class, like a panic

and a credit event. So I'd like to see what happens with Bitcoin when you've

sold your kidneys and you've got no money left and you've got to start doing

things like pay your mortgage. I think that's going to really create

Ideally, people don't really want to have to think about investing. Correct.

It's just that we live in a system. Well, people don't want to think about anything. that

requires people to have to think about storing

their wealth, saving something, some money, let's call

it, for retirement. That's just the reality. Now, under the

current superannuation system, if someone was to come to you and they're my

age and they've got $180,000, it would be disingenuous, certainly

for me, to say, do not allocate to Bitcoin. Because if

they've got $180,000 and they're roughly 45 years old, they're fucked. They

No, it's not, because it doesn't produce any income. So they're fucked. What are they going to do?

Well, that's the thing, though. It's divisible, Lloyd. So

you can break off sections. It's not like a property. If you had a property, you can't sell off

a bit of the property. You can equity loan against Bitcoin. Hey, just

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Let's say, for example, you got Bitcoin in retirement. One, we know

So you're going to sell little pieces of it over time and...

You could, and in fact, under your pension scheme, you

And so what happens when Bitcoin just goes sideways for a long period of

time because we can't derive any value from the cash flows it produces? How do we know

Because of the adoption rate, the scarcity, And

The challenge I've got with that is that people that are just holding this piece of code.

are creating fiat gains that are way beyond even

But it doesn't make sense that a one piece of code becomes more valuable than

the businesses in an economy. It can't. It would collapse

on itself. The store of value you

have cannot become more valuable than the actual economy that it's

trying to store value with. It can't. It's just not going to be more valuable than

businesses. Businesses are the way to create value

in the world. And you know that because I believe that's how you built your wealth. Correct.

What's interesting about... So what I'm doing now though, Lloyd, is I'm now shifting out

of the business into a better store of value. Sure.

So you built wealth in business, right?

You built wealth in business because you know that it produces income and so forth.

And now you're transitioning to a store of value to

But that's not how you got there, right? No, but the average person I

lured is not like you or me. Well, they could be if

they were to buy a piece of a business in stock. Yeah, the average person, though,

is working a 9 to 5 job. They've got average super.

They're likely going to end up on the pension. And the alternative for

them right now is to allocate even some of

their superannuation fund into Bitcoin. Bitcoin right

now is a risk off asset. It's a risk on asset. It's

It's a risk on asset because it's more correlated to the NASDAQ than

still doesn't take away the fact that it is the best performing asset. It's still

Because it's a risk on asset and they're seeing all this like, it's called recency

bias. So they're all suffering from recency bias where it's like gone up

to this point because of people are joining the Ponzi. So

The biggest ponzi right now, Lloyd, is the fiat system. That

is the ponzi. Well, the fiat system is not ideal. And

I'm not suggesting you hold your money in fiat. That's a

dumb idea. People that put their fiat in a mattress and try and hold currency, that's why

they send me, Lloyd, don't you think, what are you going to do about your currency? I don't fucking hold any

fiat currency. It's a piece of shit. Cash is trash. But holding

a group of great quality businesses or a great real estate asset

If someone can go and find businesses like what you do, and

they don't have to put in the time and effort that requires. They can buy an index fund, and you can buy all

And what are the index funds producing? They're producing, since 1957, 10.5% per annum.

So there's a reason why investors are moving to Bitcoin, is because

it's producing a CAGR right now of about 50% to 60% a year. It

has. And they're doing the numbers, Lloyd. It has recently. They're looking at the

It probably just doesn't have enough data yet for us to really be comfortable with

like, well, let's put everyone's flip and superannuation into that, right? So

I probably agree if you're going to speculate, because that's what it is,

because it doesn't produce cap, we can't value it to speculation at this point, with

the hope that people keep joining the network, right? And I'm sure you've got some strong arguments as

to why they would. However, it would be remiss to

speculate people's retirement savings on that Hope.

Does that make sense? I much prefer to put retirement assets into cash-producing. Things

People don't have the time, though. No, they don't. They don't have the time.

They can put it in an index fund. If they're going to be putting their money into- 10% return is

not bad. Even in the current super, right? 7% or 8% average, right? Yeah,

after fees probably. Like rubbish. That is a destiny

ready for pension fund. As in they're going to live on the pension because

they're not going to have enough money to live on in retirement. So

they have to. They're basically forced to look elsewhere now. And

I think they're forced to look at massive risk on. You're right. You're

100% right. They're being forced with the property

policy here, with superannuation, garbage. They

are forced to look at risk on assets because the policies are out of control. I

agree. And that would also prove as to why I feel that Bitcoin

is mainly risk on asset. And the challenge we're going to face is, in

a new panic, we haven't seen what happens to Bitcoin yet.

I'm just pointing at you, Hacksmith. But we're not going to see what

happens until we go through that credit event. At

this point, I still can't, as a lay person, I

asked my property manager the other day, I said, can I just pay my rent in Bitcoin? He said, no. So

I went and got some grocery because I was hungry. And I said, can I pay in Bitcoin? They said, no. So

even since 2017, as it was adopted mainstream, I still can't

actually use it to live, which means in a credit event, when

people are fucked, and they're going to be between me and the street in a week, they

ain't going to fucking hold their Bitcoin. They're going to sell that shit, get

exit liquidity, buy the USD or currency, and they're going to use the currency. Even

though it's shit, that's what's going to happen. That's where

And I think that's one of the points which makes Bitcoin so valuable, is

because it is liquid. So people are putting their money

into properties, for example. It's only liquid

if there's people prepared to buy it, right? If there's exit liquidity. And

it turns out, though, Lloyd, that there's 130 companies now, publicly listed companies

in the world, that have started to adopt Bitcoin as part of their treasury. You've

They also adopted bonds, junk bonds, in

I think it's insidiously moving into those things in the wrong way. What I'm saying though is

the adoption is there. It's not now becoming

as speculative as you think, because so many companies... It's super speculative.

And the reason it is, we don't know where it's going

to go. I think the reason why you perhaps are so against

it is because you're cocooned and bubbled into Australia.

We've basically got a pretty good system here. You

go to somewhere like Africa, Zimbabwe, where the currency

has been inflated to oblivion. I'm not against it as a currency. They actually

use Bitcoin as the currency. They trade with Bitcoin.

I'm not against it as a currency. Let's just make

it clear. I'm not against it as a currency. Because it's not

No, I'm not against it as a currency. Like, I'm totally not. I'm all

And so what I'm talking about Lloyd, is the adoption is there. You're saying who's going

to now buy it, and then credit crash. Well, they're speculating

People in El Salvador, actually government officials, politicians, and

bureaucrats get paid in Bitcoin. I'm all for it. I said that. I'm happy

for that. That's not what people are using it for.

That's not what they're using it for. That's not what they're using it for. They're using it

to fucking speculate fiat gains. When Donald Trump gets

on air and he goes, oh, it's get on the thing. We're going to pump. They're

all measuring it in the fiat it's going to replace. They only give a shit about

the fiat gains. They do. Like it's still speculative because

I'm a big, I would get on board with Bitcoin Don't

flip and edit this the wrong way. If I would get on with Bitcoin, if it

was adopted as the currency, because my laundromat would still sell,

wash my clothes for Satoshis, I'm okay with that. Totally.

But that's not what we're seeing here. Because people are starting to use it as investment

Because as more people buy it, there's a limited supply. There can't

be a currency and a volatile Asset at the same time.

It's got to choose. And this is why I think you've got to dig deeper and understand that

it actually is a new monetary system. It's a network, and

it is a store of value. Thanks for tuning in to Crypto Collective. If

you've enjoyed this episode, the best way to show your support is to leave a

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make sure to subscribe to the YouTube channel so you don't miss an episode. You

can also find more of me at I'm Matthew