Hello everyone this is adam meister the bitcoinmeister the disrupt meister welcome to the one bitcoin show today is july the 22nd 2020 strong hand buy and hold this game is not rigged golden age of the 2020s bitcoin is the next bitcoin in motion compete don't complain unconfiscatable yes i am offended by selling hello my elite friends if you have questions i have answers type in bitcoinmeister or you can do a super chat i will see your questions we will definitely have time for questions today big story of the day federal chartered federally chartered banks and thrifts may provide custody services for crypto assets oh the office of the comptroller of the currency says this they just released this in the united states oh what a surprise that this is going to happen eventually already in germany they they uh allowed this that was a big story at the beginning of the year and now in the good old us of a banks will be able to uh store your cryptocurrency for you they'll be able to be cryptocurrency custodians so as i predicted many people have asked questions in the past how will the banks survive bitcoin well they'll just add a a bitcoin branch a cryptocurrency branch they'll be bank of america will store your cryptocurrency and wells fargo and citibank will do the same and people will eat it up because coinbase already is a bitcoin bank and people they let coinbase uh control their bitcoin for them it's not even their bitcoin anymore so banks won't want in on this obviously the government the government thank you government for allowing allowing banks to do this um of course why do banks even need the government's permission but that's the world we live in today uh so hey maybe maybe in 2021 we'll see that normies storing their bitcoin at bank of america pound that like button but we are going to talk about the normies that uh currently store their bitcoin at coinbase because we've gotten into a little bit of the insight so that bank story is pretty big okay may it happen soon i have i have no problem with normies um saving their uh holding their bitcoin at bank of america okay they shouldn't they should do it on they should put it on the tresor we'll talk about that in a second also uh but this is life okay compete don't complain the banks are gonna be competing with coinbase they're gonna be competing with other crypto custodians out there all right great the more the merrier welcome to the party this is where the big boys play okay pound that like button now coinbase crypto exchange coinbase has said that it prevented a little over uh 1100 customers from sending bitcoin to the twitter hackers who hijacked the high profile accounts to advertise a bitcoin scam last week all right that is a lot of people at coinbase now there's a lot there's a lot to this story um it shows you again if you think you have your bitcoin at coinbase you try to send it somewhere and they decide that you're not going to send it there well is it really your bitcoin so in this case they prevented people from being scammed okay 280 000 waves yeah hang on let's see here it was 280 000 worth of uh a bitcoin and how many uh how many bitcoin was it 30 it was over 30 bitcoin okay at that that were just almost sent to these scammers they only and the scammers remember only got 120 000 worth of it from everyone now something to keep in mind is that coinbase was hacked the execution no no no no don't quote coinbase's twitter sorry about that coinbase's twitter was one of the accounts that was uh broken into okay so some of these people i guess they're they're they follow uh coinbase on twitter they saw oh looks like coinbase uh wants me to send them uh bitcoin and they'll send me more bitcoin okay eleven hundred people fell for that eleven now they have that mentality where coinbase does have giveaways we we have talked about how they give away all coins so the people are conditioned to get freebies but to send something to get a freebie that many so there is a certain naivete uh among a significant portion of coinbase users and it just shows you they they really need to evolve a little bit if if they're not going to they need to learn uh if they're not going to fall for something like this in the future i'm just that's a big that's a lot of people eleven hundred people over there at coinbase uh uh uh we're about to send bitcoin to this uh complete scam i mean it would have uh doubled i mean they they only scammed 120 000 and they almost got 280 000 from these people um so it would have been a huge uh uh percentage increase there for the uh for for the scammers so i'm glad i'm glad it didn't happen but man we this space has a lot of naive people at it in it and a lot of them are apparently a coin base so one can expect people they don't they do not they definitely these are the type of people that don't want to take personal responsibility the people who fall for things like this so back of america wells fargo uh these are your future customers right here uh you're gonna have to protect them from uh from from their own foolishness here uh in the future or they'll just go to coinbase man come on dudes learn for your so yeah they didn't learn the hard way they'll continue not they're protected by mommy coinbase there and mommy bank of america in the future but hey compete don't complain it some people like that some people like that but if you're if uh the the basics behind bitcoin man you you've got full you do not have full control of your bitcoin if you could be protected like so-called protected like that all right so that article was at uh the the block crypto and i want to remind everyone to check out yesterday's show we definitely had a unique beast on the show uh talking about the bitcoin beach down in el salvador and i try to get you unique stories like that you really didn't hear an in-depth version anywhere other than here uh recently at least about this bitcoin beach in el salvador a little town down there where many peop all the families basically all the families that live down there are using uh bitcoin sending it around using the lightning network lots of people and uh i'm just seeing if there any questions a lot of people are talking if you've got uh okay so someone asked what do you think about the silver spike well first of all you did not follow directions you did not type in bitcoinmeister or do a super chat uh but i did i did happen to see it so please 770 come on man you've got a good name there i think nothing of it i don't i it's i i hardly would have even heard of it if i hadn't seen andy hoffman mention something about it why why k it's it's old-fashioned stuff all sorts of stuff spike um all sorts of uh companies that are complete jokes spike all the time all sorts of all coins spike all the time things spike bitcoin is the next bitcoin i value my wealth in bitcoin the value of your wealth in silver is a joke at this point and it's been it's been a joke for years if you want to live like a caveman and value your work wealth in uh rocks be my guest be my guest here dude um but uh no i think i think nothing of it it's something to make uh conspiracy theorists make themselves feel better that they didn't buy bitcoin they could say oh look it went up oh look you see doug casey was right in 1981 okay there we go let's see uh i need you guys support the show by retweeting this i'm tech vault on twitter t-e-c-h-b-a-l-t so yeah the guest yesterday mike peterson was pretty darn awesome watch that show retweet that show uh vention added a great point in the in the uh chat that i didn't see until after the show if el salvador doesn't have a local currency they won't be protective of it since they don't have they don't get any of the money printing benefits of profits so el salvador uses the us dollar so i thought that was a great point on uh vention's uh vengeance part there that hey a place like that a country like that they're not going to care as much if bitcoin starts circulating around there and people start using a bitcoin but they're not lose using their uh money printing money printing abilities but they never had money printing abilities we just had a connection went down for a second so since they never had well they didn't recently have they've been using the us dollar they they're less likely to care about uh all these families down there sending around bitcoin i i hope to visit that place one day once uh well flights aren't going into el salvador watch watch yesterday's show so it's quite a story that so many families are using it down there defiance over compliance and check out this week in bitcoin also brandon and uh john the ballast was on and federico were all on the show tresor is giving away a uh just for the next couple days uh it's like the anniversary of their old version of the tresor if you buy the new tresor you can get the old version free for the next two days or less than that i link to that below that's a pretty good deal buy one treasure get another one free yeah the model t model one whatever you get both at once just paying that the new ones price interesting deal thought i would share that and here for for people who uh god forbid uh you've lost your passphrase okay for your tresor or any uh bit 39 storage device uh there's a guy out there who's offering help got a bitcoin mnemonic phrase or wallet file but lost the password to unlock it i might be able to help i've got a couple of scripts to brute force bit 39 freight pass phrases they have battle tested they've been battle tested against a cold card and wasabi wallet dms are open okay so that guy's evan he's linked to below so if anyone has ever lost a a passphrase he might be able to help you hopefully that has not happened to anyone watching the show now pirate uh pirate beach bum i'm talking about a surfer we're just talking about surfer town we're gonna talk about surfer jim in a second and pirate beach bomb is a surfer also he reminds us when bitcoin moons the mob will come after us because we were fiscally responsible the new accumulation of wealth will make us the new target they always go after successful people with money and make them pay for society's woes yes i've been to i've been talking about this for a while and that'll be great that'll be great when bitcoiners are the target of these uh jealous uh envious mobs that are out there but i i i do want to say this that right now these people are complaining about jeff bezos like getting billions of dollars richer by the day and then i i think there are some bitcoin people that actually try to you know bring hate to jeff bezos for creating a company that brings a lot of value to people especially during times like this apparently where people are scared to go outside for no good reason and the the hate for jeff bezos being successful is the same for a bitcoin or like me being successful so if you're a bitcoiner and you're hating on uh jeff bezos you're hating on yourself man unless you're a no pointer and and that's not really a bitcoin or you're just a dude that talks a lot about bitcoin we're going to talk about that in a second now an invention by the way also i noticed in yesterday's chat he says he understands why people on the right side of the political spectrum would like bitcoin and he he says well why would people on the left side of the pillar spectrum like bitcoin well one reason is they don't like banks at all on the left the left hates banks so you could convince some leftists saying hey you hate banks look you can be your own bank now anyway uh check out uh subscribe to my backup channel below you get the beyond bitcoin show there every saturday i talked about leftist rightist randist all sorts of people over there it's always a fun time i speak the my mind i speak the truth everyone's got to keep on speaking the truth out there these this is a time when so many people are trying to fit in fitting in is overrated be be your be a unique beast that's the meister motto and look i agree with bloomberg for once on one of their headlines 401k plans no longer make much sense for savers yep the inherent extra return participants enjoyed uh the inherent extra return that participants enjoyed for many years has almost disappeared because of charge the changes in tax laws and high fees of course they're fees they're no foo they're no fees with your bitcoin okay there are no maintenance fees with your bitcoin you get that tresor once that's your insurance that's it um bitcoin is my 401k so yeah times are changing but the 80 percenters they'll still toss all sorts of money in the 401ks the conspiracy theorists will still toss all sorts of money into silver and gold and whatnot this is where the big boys put let them learn the hard way baby bitcoin is the next bitcoin and on that note uh people just buying anything you know well 401k my dad bought a 401k my granddad had a 401k i got to get a 401k uh and uh yeah you know i'm used to buying things uh the traditional way letting a broker buy it hold things for me a stock some sort of trust i'm used to that so this grayscale thing i've been doing the bitcoin trust with them for a while and i've done the ethereum trust and now they're coming out with a be cash trust so i got to diversify for the sake of diversification all right dudes be cash trust it just shows you people will buy anything anything why the heck would you want to be involved with a be cash trust with grayscale's be cash trusts that it hasn't gotten approval yet but they're like one step closer to approval there's going to be a litecoin trash to litecoin trash yeah litecoin trust also pound that like button for that 48 slip um yeah it shows you people will buy anything if you repackages it the right way okay you need to diversify you just can't have the bitcoin trust you gotta have the beacon a blind diversification for the sake of diversification there for all you people who can't take the time to learn to own your own freaking bitcoin you gotta let barry silver and grayscale do it for you and now you gotta diversify through him too and people will buy this not that many people will buy the be cash trust as as that have bought the bitcoin trust for the ethereum trust i i know that but still people will buy it all right so jim jim got published surfer gym got published by citadel one uh citadel 21 it's linked to blow he and i mentioned this before i busy he's told me to mention this before i don't know like how how specific i got into this um but he compares the amount of a livable livable uh land on the planet to the amount of bitcoin out there and if you were to buy one bitcoin that is equal to buying 1164 acres of livable land right now okay so he puts it in perspective would you spend ninety two hundred dollars or excuse me ninety three hundred dollars on 1164 acres of livable land yeah you would you think that's a great deal so why get get your bitcoin it's a better it's a better deal that's where we are right now now there's one bitcoin eagles 11 uh 64 acres of livable land liverpool liverpool there's there's actually there's more atlanta there's farmlands all sorts of stuff and finally beforehand i mentioned no coiners oh let me mention see if there are any other questions in there all right now there's there's people uh going back and forth uh let them print some bitcoin yeah no they can't print bitcoin there's someone trying to pump an uh an altcoin that's that's pretty common here for the dude it's the bitcoinmeister show i never i don't i don't pump your all coins dudes you can do what you want to do though and on that note no coiners well no bitcoiners there there there are dudes out there that are so i i've mentioned this before there's a lot of technically knowledgeable uh bitcoiners out there and and cryptocurrency people and what's that gonna get you in the long run okay uh now i might be able to get you a great job that is good are you gonna be a tree are you gonna be a tree with your technical knowledge are you gonna be in motion okay the finance people who don't know the first thing about the tech behind your bitcoin um they they do understand the scarcity aspect of bitcoin okay the simple scam and we just talked about the scarcity aspect of bitcoin when we're comparing it to the amount of land that's out there in the world of to live on okay and they get that stuff okay you only really need to get that stuff to say well wait a second i gotta get my first bitcoin remember the name of the show is the one bitcoin show get that first one then your second or third your tenth your 200th whatever um so the finance people they acted instead of argued about soft fork approval processes and about this tech over that tech uh and just make sure you're not wasting your time getting into these are these technical arguments make sure you're not boosting your ego make sure you actually end up with bitcoin but some of these dudes are definitely no coiners that are going back and forth screaming about tech of bitcoin um those people are going to end up the most bitter in the future um if they of all the new coiners out there they're they're going to be they're going to be toward the top of in terms of bitter now we just talked about people being freaking angry and jealous and envious uh those type of no pointers who just are got that knob mentality to hate the rich but the smart dudes out there that were so into the the tech behind cryptocurrency behind bitcoin if they end up no coiners they'll be they're the most bitter of them all so don't end up uh i hope you're not watching this as a bitter no coiner in the future as a genius bitter no coiner wondering why all those finance guys got rich and you with your 150 iq and all your computer programs skills are still poor you didn't actually buy it you actually have to do something you cannot be a tree compete don't complain baby all right dudes that's it i'm adam meister bitcoinmeister the disrupt meister remember subscribe this channel like this video pound that like button subscribe to the backup channel follow me on twitter techhbalt thanks a lot guys i will say hi to you oh we have a special guest tomorrow 2 p
m baltimore time 2 pm baltimore time we're going to have a guest who's never been on the show before it'll be interesting see ya
