BITCOIN - 18 Years Baby! 🔥🔥🔥

immediately told him, why do you tell me about the sooner? And I went out and bought right away. I mean, it's a pretty remarkable white paper, you know, it really, it's, you know, it's kind of like you see these results in math or, or engineering, you know, other fields. And sometimes the absolute shortest ones are the most impressive, you know, and that, that's the case for, for Satoshi's white paper. You know, he really packed an enormous amount there. You're just, you're fading in and out there. Yeah. $1 million, $31 million, $21 million Bitcoin cap. Yeah. The, well, that wasn't in the white paper, by the way. Oh, no. Okay. Yeah, but the, the, go ahead. No, no, no, no, that just, the, the cap was not in the white paper. This FYI. Oh, okay. Yeah, we all sort of think it was, but it wasn't actually in there. Yeah, the hat, you know, the, the hashing, crypto hashing, the, the Byzantine generals, consensus algorithm. That's what really got me was the fact that now you had an ability to have a, a ledger where you didn't need a, a third party to manage it. You actually had a statistical mechanism that would force consensus to any reasonable person that wanted to maintain value. Did you kind of get just by looking at the white paper that, that, that, the consensus would be maintained. Did you get it like the exponential? Oh, yeah, absolutely. Yeah. And then, and I think I told you on a previous, it's so impressed me that, you know, on my job, I gave a, I spent more time discussing that, that Byzantine general solution and how that's statistically working. And, you know, incentive, I've set such a strong incentive to drive the, the ledger to consensus in, you know, two or three rounds. So very powerful. Yeah. I guess it's the math background. Yeah, no, I think what the math background you see it immediately, but, but I think, I think if you have a sort of a general tech background, you kind of dismiss it. And because I think one of the things you think is, well, there's going to be something else. There's going to be, you know, this is, this is my space. There's going to be Facebook. This is Yahoo. There's going to be Google, you know. So I think some of our tech baggage actually worked against us. Oh, it certainly did me, you know what I mean? Right. And the things that, you know, all of us probably missed, of course, was that how quickly it would take off in terms of economic value. Yeah. When I say, yeah, I'm going to go out and buy some, you know, of course we all wished, you know, I wish I would have bought a lot more. But, you know, I said, hey, this is a cool technology. I think it will eventually amount to something, but how quickly what's really a short duration of time became a major asset is incredible. And the other thing I didn't completely understand and really appreciate now was the fact that the hashing algorithm is tied to the physical world in real energy, expenditure required work and how important that was or is still right to make it truly a valuable network. That is tied to real world value. Yep. Chad, good morning or good morning, sir. How's it going? Good morning. It's going great. Thanks apologies. I got a scoot after this, but I could not hop in given the title of this and the importance of this day. And yeah. You know, first of all, thanks for all you do Fred. I say that a lot when I think of you, but on on this topic here at hand, you know, separation of money and state is going to be one of the tectonic movements in the arc of our species. And what's the toast you created here is beyond staggering, you know, to have a public ledger that is verifiable, unchangeable, I guess we'd use the word immutable, trustless. We will and can talk about this for generations. It's right up there with fire. The wheel Bitcoin is the profundity of this is partially why we have spaces and you know, I read the white paper again. It's the first thing I did this morning. By the way, there's a great before I totally drop out of the space. I'll post it up in the app nest, but there's a great site called like Bitcoin, whitepaper dot art or something. And the reason that's so interesting is that it's a, it's an interactive way to go through the white paper that didn't exist last year. And it's just it was a different way, but I do I read the white paper every year on this date and encourage everybody to do that because I'm still learning from it. I still don't understand all of it. And I'm just so grateful to have that paper and this community. And you know, thanks to you Fred and everybody else that's part of it. Well, it's a community. It's something else. But I'm on that site, by the way, it's an amazing site that Bitcoin, a white Bitcoin white paper dot art and it's kind of this interactive thing. You kind of see Satoshi kind of writing it to the cryptography mailing list. So that's met stout. Yeah. I mean, I think it's worthwhile. It's worthwhile. Those were, we're seeing kind of these hacks at Binance and stuff. Just kind of reviewing what's so special about Bitcoin. Because you know, it's not just some people who don't get it. It's people like Jason Cali-Kannas and Chamaaf. They don't get it. You know, they don't really get it. And I think it's worthwhile pointing out, you know, and in your in this Bitcoin art, here's it says the main properties, main properties. Double spending is prevented with a peer to peer network, no mint or other trusted parties. Participants can be anonymous. New coins are made from hash cash style proof of work. The proof of work for new coin generation also powers the network to prevent double spending. That's it. That is the abstract. You know, it is, you know, to say it prevents double spend is one thing. But it prevents it without a foundation, without, you know, Chamaaf, you know, buying up half the supply and being able to change the protocol. Without Michael Saler being able to change the protocol. Michael Saler has no impact on the protocol Bitcoin. Yeah, prevents it with that statistical mechanism that is centered by everyone to stay on the longest chain. Because it's the only one that's going to be valuable. Yeah, that's incredible. Innovation. By the way, David, nice to speak with you. Complete agreement. I think what's also going to be fascinating here to note is that you're going to start to see business structures that employ the decentralized trustless model, especially in this world that we live in where, you know, anybody could put anything on the internet, right? But you're going to start to see business plans that reward trust that is like verifiable. So by being trustless, you can actually establish true trust. And I know that's like a huge concept that is kind of opaque at the moment. But this mechanism that Satoshi developed is literally going to change so many businesses, interactions, communications and ways that we can't even envision now. But boy, the future just, this was the spark that made future. Made the future bright. It took us from, you know, Terminator as the AI default to AI is a great tool for humanity. So just can't wait to see what we, you know, what everybody puts together and what they build on and what on this gift that Satoshi gave us. Will Bitcoin stop wars? I don't know. We're going to still have wars. We're going to still have, we're going to still have conflict in the world. But you know, if you, all of us couldn't imagine a world in which the government just didn't print money and hand it out. That's just the world we kind of were, we're conceived into, right? And I don't think any of us ever thought of money really. I mean, you know, I think that Robert Reed love title about what is money is interesting because we never, we never really thought about it. We never, we never gave it any thought, you know, it's just money is okay. Well, we got these dollars. The Federal Reserve has these big buildings and they print them and we use them and we don't, we don't, we don't, we don't, we don't challenge that. And, um, and I think there wasn't, there wasn't a way to challenge it. It's just two powerful structure and too much momentum. And to see this paper innovation is able to challenge that structure, it's amazing. I once went to a Federal Reserve building. I can't remember what where it was. I think it might have been, it might have been New York, but they had a museum downstairs, you know. And they had sort of the, the museum of Federal Reserve and, you know, they had all these pictures of the Federal Reserve governors and, you know, uh, and I was sort of looking at it going, wow, this thing looks pretty impressive, you know, like, uh, I guess these guys have the money thing under control. Um, but actually they didn't, you know, the whole thing was Wizard of Oz. Fred, how do you think the adoption of, um, either Bitcoin is a base currency or a straight out, you know, country, firmly adopting it as their base reserve currency? What do you think that plays out like, you know, like just map it forward? How do you think it plays out? I think we're going to get, I think Bitcoin's just going to, it's, it Bitcoin will be accumulated more and more. And more and more people like us will start stacking Bitcoin and, and also spending it, you know, but I do think that Bitcoin's Bitcoin that, you know, 77,000 is not taken seriously because it is a, you know, it is a completely unserious part of the economy. You know, Kevin Worsh is really not interested in Bitcoin. He's interested in interest rates. He's interested in balance of payments and balance of trade. Uh, nobody's really talking about Bitcoin, uh, including Trump. I mean, I think Trump's really, you know, uh, you know, he, he, he's shown that his main interest is kind of making money from his Trump coins. Um, and from his other various business deals. So I don't think, I don't think anybody is very, is really very interested in Bitcoin. I don't think they take it seriously. I think at Bitcoin 1 million, that's when we're going to start to take it seriously. I really think that's just the start, you know, that, you know, it, I don't think a lot of people really treat gold as, as a serious thing either, you know, it's even gold at, you know, 27 times the market cap of Bitcoin is, is not, is not, is not people don't, other than Peter Schiff, they don't treat it as a serious thing in the world of finance. So I think we've got to go up, you know, at least one order of magnitude, maybe two before we really see, uh, this thing kick into gear. That's kind of my, my go feel. So, you know, but that means is there's just massive upside from here. If you believe, if you believe what we believe, I just think we're, we're still at the very beginning of it, you know, um, unfortunately, I've got a scoop, but I'm, I'm gonna throw with the name, I'm gonna throw Maryland in my name into the hat for next year's alpha. We would love to do a presentation or, or, you know, one of the rooms on inflection points, because it's just fascinating when you look out in time about the different, like I think you're probably right. I think Bitcoin 1 million will be a seminal, um, wake up call for many, but the, uh, there's a whole bunch of things on the continuum that are likely to happen or potentials to happen. And we've done some mapping and I'd love to get the minds, you know, the collective hive of that alpha hive. No, it's great. So yeah, yeah, we want to, we want to start planning Bitcoin out. You know, one of the things I want to do this year, we're next year's, I want to start planning it a year in advance, right? Because what I don't want to get is be one month before and then say, uh, okay, are you, are you interested in doing it or not? You know, they mean let's, let's just set this whole thing up a year in advance. Everybody all plenty of time to figure it out. Uh, but, uh, you know, we, we pretty much know the formula at this point. So let's get these people in a year in advance and let's get like all the, all the minds of Bitcoin in, you know, the Jeff Boos, you know, they, um, you know, Lynn Alden's, let's get everybody in. Let's, let's, we have a year to really, you know, to, to,