0:00

Micaela 2024 elections today

0:02

, not predicting , just absolute

0:04

landslide , just dunking LeBron James

0:07

.

0:11

What's up everybody ? Welcome back to another episode

0:13

of the having report podcast . Today

0:15

I have two good friends that I met

0:17

in Alsante Bitcoin

0:20

beach beach breaker hotel . We

0:22

have ledger Jedi folks

0:24

should be familiar with Jonah , and

0:26

we also have average orange

0:29

that we had on the episode about

0:32

lump summing the lump

0:34

sum I should almost call you most viewed podcast

0:37

on the having report , except for the cultist

0:39

hexakin one . No

0:41

, I think . I think we're actually beyond

0:43

the cultist hex . Oh

0:45

, you beat the cultist man .

0:47

Imagine , dude , that's just Okay

0:50

, come on .

0:51

Thank you .

0:54

Thank you for taking the time to do this today

0:56

, fellas .

0:58

Thanks for having me , man , it's exciting . Hey

1:00

, it's a pleasure to be back . How have you

1:02

been over in cold Canada ? It's nice to warm here

1:04

.

1:05

Yeah , no , freezing my ass off every day

1:07

, you know scraping the snow and ice off

1:09

my car every morning . You know how that goes

1:11

. I

1:14

want to say congratulations to you , jonah

1:16

. You've , you know , you've since gotten engaged

1:18

, since , uh , since I've seen

1:20

you . So congrats , buddy , and

1:22

, uh , congrats , thank you , man , thank

1:25

you , bro .

1:25

I got to . I really uh , you know I owe it all

1:27

to God . The reality is , uh , you know

1:29

, I'm a retard that got ran over by a truck

1:31

and , um , I'm really fortunate to

1:33

have like the life that I have right now . I

1:35

don't , I don't quite understand why I do uh

1:38

, but I'm very thankful .

1:39

So , thank you , appreciate that

1:41

, yeah , and it just kind of , uh , opening

1:44

up to you , starting with you , jonah , you know how's

1:46

your role or perspective within

1:48

the Bitcoin ecosystem evolved ? Uh , especially

1:51

considering , you know , the the changes in

1:53

the market . The Bitcoin ETF

1:55

approval .

1:57

Well , I wish that it would go up . Um

2:01

, and it will . That's the reality it will

2:03

, and these things take time

2:05

. So , supply shocks take time

2:07

, um , but if you look at the

2:09

numbers these ETFs are buying

2:12

, um , what is it ? It's got to be

2:14

something along the lines of like

2:16

four to five X the amount of supply

2:19

that's being mined every day , which is about to get cut in

2:21

half in a couple of months . So

2:23

I think we're on track to do really well , um

2:26

, and as far as you know , just the Bitcoin

2:28

culture over here , no , salvador

2:30

, I got to say , man , um

2:33

, I've had a whole new perspective

2:35

kind of develop , which is

2:37

I stopped being like do you accept Bitcoin ? Do you accept

2:39

Bitcoin ? Accept Bitcoin right now ? Um

2:41

, and starting to shove it down their throats , because I started

2:44

to realize , um , that

2:47

is counterproductive and the

2:49

reality is what . What you actually want to

2:51

do is just build relationships with them . And

2:53

so I started to build relationships with some of these

2:56

local people and , uh

2:58

, just hanging out with them , trying

3:00

to learn Spanish with them , going on , uh

3:03

, motorcycle rides with them through the mountains it's

3:05

freaking beautiful here in El Salvador and

3:08

, man , they started asking me about

3:10

Bitcoin . How do I got the Shibo

3:12

wallet how do I buy Bitcoin

3:14

and that really struck

3:16

a light in me and I was like , oh , this is really

3:19

the real way to to go about

3:21

making , uh , the adoption grow

3:24

here in El Salvador . So , um

3:26

, it's been really excited . It's been a whole

3:29

big blast here and you

3:31

know , I just got this new place and it's got

3:33

the whole Bitcoin theme and I'm wearing the orange shirt

3:35

, but I got this nice orange roof here

3:37

and I got a nice orange painting over there . So

3:40

you know we're doing the Bitcoin deal over

3:42

here .

3:44

Yeah , man , it's good to see you . You know , continue to

3:46

be all in on your Bitcoin journey , Uh

3:48

, but yeah , like that's , that's awesome

3:51

to have a good connection Like you . Uh

3:53

, boots on the ground in El Salvador . I've

3:55

been pumping nothing but El Salvador

3:57

content since I left there , man , it's , it's

3:59

the place to be for anybody in

4:01

this space .

4:02

I feel like yeah and hey

4:04

, go follow LeatherJedi on Instagram

4:06

or Twitter and hit me up if you want

4:08

to come down here . I can take you on some tours

4:11

to the Bitcoin mining facility at the volcano

4:13

. Uh , show you El Zonte , some

4:15

of the places that accept Bitcoin . What's going on boots

4:18

on the ground , where the locals are actually being educated

4:20

and learning about Bitcoin . I got that on

4:22

lock for anybody who's interested to come on down

4:24

here and cause . You don't want to trust

4:26

what you see online . Is El Salvador really what

4:28

? What you're seeing online ? You want to verify . That's

4:31

what we do as Bitcoiners , and so

4:33

that's what I'm here for . Don't trust verified

4:35

tour , yeah .

4:37

So you're now competing directly with Bitcoin

4:40

, ronnie tours .

4:44

Actually the interesting thing is , ronnie

4:46

actually takes people on tours and

4:49

he just links up with me , so they , they pay Ronnie

4:51

, and then Ronnie goes ahead and

4:53

brings them to me and they pay me as well

4:56

.

4:58

Sounds like everybody wins . Yes

5:03

, yes , let's pivot . I was going

5:05

through your white paper the other day and

5:07

I had trying to try to break it down the best

5:09

I can , but you know it talks about

5:12

strategy for low risk Monetization

5:14

of Bitcoin mining through Intraday

5:17

trading , electricity trading . You know

5:19

, because the first time I talked to you know

5:21

this is kind of very abstract in my mind

5:23

. So I was wondering if you can kind of give us another break

5:26

down of the core concept of the strategy

5:28

for our listeners here .

5:29

Yes , please sure

5:31

I Won't start with my

5:34

perspective on the ETFs , because that's what

5:36

you asked , jonah . First

5:38

, my brief overview is they

5:40

just put the Trojan horse through

5:42

the gates . Legrock pulls the Trojan

5:45

horse through the gates and relax

5:47

and joy , wait until we are

5:49

inside and then let the party

5:51

start . Yeah , concerning

5:53

the white paper about trading

5:56

, it basically boils down

5:59

to when you mine , you

6:01

get Bitcoin and

6:03

you have a certain amount of Bitcoin that you

6:06

could convert to fiat and you

6:08

basically say , okay , let's say I

6:10

get $60 per hour

6:12

that I mine with my facility in Bitcoin

6:14

. So you try to acquire your electricity

6:16

for cheaper than $60 because

6:18

you want to make a profit . So

6:21

in electricity markets the

6:23

trading has different prices

6:25

before you start with delivery

6:27

. So my strategy

6:30

is to take advantage

6:32

of this price fluctuations before

6:34

you get the electricity To

6:36

make mining more profitable . So

6:38

if you get $60 per hour

6:41

Bitcoin mine , you can acquire it

6:43

for $50 . It's

6:45

already profitable . You have $10

6:47

profit and then one

6:50

moment , jonah , and then if

6:53

the price of electricity goes to

6:55

$70 , you can sell

6:57

the electricity and make more profit

6:59

than from mining . So basically

7:02

, you always make profit Because

7:04

you have the asset the Bitcoin mining facility

7:07

to take . Always take delivery of the

7:09

electricity you buy , so you're not forced

7:11

to close the position , like

7:13

a normal trader would do .

7:16

Okay question . So I think probably a lot of

7:18

listeners , and me myself as well

7:20

, don't have a fundamental understanding

7:22

of what really you

7:25

know trading of energy is

7:27

. And could you give a little bit of context to how

7:29

that works and what that is , so that Maybe

7:32

I could understand the concept better ?

7:34

Sure , in electricity grids

7:36

you have a huge challenge . And the huge challenge

7:38

is that you always have to balance

7:40

supply and demand . Because

7:42

if you don't balance supply and demand , the

7:44

frequency in the electricity grid , which

7:47

is like the balance of supply and demand

7:49

, because you imagine , like a lake

7:51

, you have Streams of rivers

7:53

going into it , this is the input , that's a

7:55

supply , and you have a downstream facility

7:58

like a dam that releases the water

8:00

, that is the Demand

8:02

right . So if supply and demand , and

8:04

if you have too much supply , the lake Overflows

8:07

and if you have not enough supply

8:10

, the lake drops and

8:12

that is the frequency in the electricity grid . It's

8:14

like the level of the lake going up and down

8:16

and you have to keep it in a certain

8:18

window Before the electricity

8:21

grid shuts down , to protect Everyone

8:24

from damage , from damaging the electricity

8:26

grid . So , basically

8:28

, what electricity trading is doing

8:31

is trying to match supply and

8:33

demand via trading . Because

8:36

when you have a power plant , you have certain

8:38

cost of production of

8:40

energy and you only Sell

8:43

your electricity if you can sell it

8:45

for more money than your cost of production

8:48

. And if the price

8:50

of electricity drops below that threshold

8:53

, you shut down or or spoil

8:55

down your electricity plant and take

8:57

away supply . So this is what

8:59

electricity trading does it keeps supply and demand

9:01

and electricity in balance .

9:05

Oh wow , that's absolutely mind blowing . So

9:07

, basically , because

9:09

you can't store enough

9:12

energy , right , so they can't just keep producing

9:14

it because they can't store it all , is

9:16

that the first layer that

9:18

I need to ?

9:18

understand . I mean there is storage , but

9:21

people underestimate in

9:23

my experience , underestimate the amount of energy

9:25

that needs to be stored . It's a huge

9:27

. It's like a huge amount of energy and our

9:30

means of storage can

9:33

only take a search and amount of electricity

9:35

. It's not sufficient . Yeah , and then

9:37

you need to balance the grid somehow .

9:39

So it needs to be a constant flow

9:41

, because you need to basically use it directly , because we can't

9:43

store enough energy to actually disperse

9:45

for later . Right , okay

9:48

, okay , totally get that .

9:50

And also you have other challenges because the

9:52

electricity grid , it's physically limited

9:55

. You can't transport electricity from

9:57

El Salvador to China , correct

10:00

? Also , this is why the

10:02

trading zones are divided into smaller

10:05

zones , so that you

10:07

always match supply and demand in the specific

10:10

zone .

10:13

So that's absolutely mind blowing . So then

10:15

, what you're going in to go do with

10:17

what you're trying to accomplish

10:19

with the Bitcoin mining is basically

10:22

it sounds like

10:24

there's markets that

10:26

are selling the energy

10:28

at a certain price , based on that current supply

10:30

and demand , and then how

10:32

does it work for you to be able to keep

10:34

that energy and sell it at a higher price

10:37

later ? Because if you can't store , the energy

10:39

.

10:39

Okay , so imagine you run a

10:42

solar farm and

10:44

you produce solar energy . So you

10:46

cannot directly control your

10:48

how much energy

10:51

you supply because you're dependent on the sun . But

10:54

you have to sell this energy one

10:57

day before you produce the energy

10:59

to reduce your risk . And

11:02

then you do a forecast , a weather forecast

11:05

how much sun will it be at six o'clock

11:07

this evening and sell this

11:09

energy in advance . So

11:11

if the sun doesn't shine as

11:14

much as you thought , you have to buy back the

11:16

electricity that you sold , and

11:18

this drives up prices because you cannot deliver

11:20

your solar energy . So this is the

11:23

point where a coal fire power plant

11:25

or gas fire power plant comes in and

11:27

substitutes this energy . Normally

11:29

it's a gas fired plant because they are much

11:32

more flexible . That's also by their considered

11:34

complementary technologies to solar

11:36

and wind .

11:37

Wow , okay . So now I just had the brain

11:40

glass . So basically , what you're doing is

11:42

let's just use the solar farm , because it's simple

11:44

. They've got a solar farm and they're expecting

11:46

a huge , bright , sunny day and they're going to have so much

11:48

electricity , so they're going to sell it for

11:51

tomorrow for cheap . Selling it in advance

11:53

. You're like , oh , that's a cheap price . I'm

11:55

not expecting it to be as sunny as they think . So

11:57

you go in , you buy up that energy for tomorrow

12:00

. Then the cloudy day comes and they don't

12:02

get as much energy as they expected , so

12:04

they have to buy back more energy , which drives up the

12:06

price of the energy . So then you can sell

12:08

that energy back into the market at that

12:10

higher price , if you needed to . Exactly

12:13

, wow . So

12:15

you could use that cheap energy to mine the Bitcoin

12:17

and it's just whichever one is more profitable .

12:20

If the sun shines , I use

12:22

the sun energy to mine Bitcoin . If the sun

12:24

doesn't shine , I sell back the energy to stabilize

12:27

the grid .

12:28

Wow , and

12:30

therefore you are reducing your

12:33

downside essentially

12:36

to almost zero , Zero

12:38

yeah . Wow .

12:39

My only downside would be if I couldn't buy electricity

12:42

, because it's always more expensive than

12:44

mining Bitcoin , but

12:47

that basically the

12:49

renewable energies enable this strategy

12:51

.

12:53

Interesting and that's obviously really

12:55

big in Europe , is the renewable energies

12:57

.

12:59

Can you repeat ? I didn't get that .

13:01

Because the renewable energies are obviously what is really big

13:03

in Europe , correct ? They don't have as much

13:05

oil and et cetera et cetera .

13:07

Correct , yeah , and it's also getting

13:09

big in other countries . I mean

13:11

, it's the cheapest form of energy to produce

13:13

, but it's also the most unflexible

13:16

form of energy to produce , and

13:18

we're bringing the flexibility into the cheapest

13:21

form of energy to make cheap energy flexible

13:23

.

13:24

Wow , mind blown . I love that

13:26

. What a genius , huh .

13:29

So what does ? I guess I'm

13:31

still trying to fathom this idea a little bit . What

13:33

does energy , like buying and selling

13:36

, trading , look like ? Like , is that like

13:38

you're on a new game ?

13:39

Insert the fucking 40 screens

13:41

he's got . It's

13:43

not 40 , it's 16 .

13:47

You mean how it looks like in practice , like hands

13:50

on . Yeah , all right

13:52

. So you have a time window

13:54

let's say the hour

13:56

from 6 to 7 , and

13:59

you have energy

14:01

which is denominated in megawatt . And

14:04

since you're trading the megawatt for one

14:06

hour , which is from 6 to

14:08

7 , it's one megawatt hour . So

14:12

basically there are prices per megawatt

14:14

in the electricity market and

14:17

what you do is look

14:19

at these prices . And my job personally

14:21

is I have like multiple power plants as

14:24

assets and I know all

14:26

the cost of production of those

14:28

power plants , and once the price of electricity

14:31

goes above the means

14:33

, the price of production , I sell the

14:35

energy of the power plant because then it's profitable . I

14:38

send a new schedule to the power plant

14:40

and the power plant then boots like

14:42

, runs up the electricity and vice

14:45

versa . If the price drops below the

14:48

power plant being profitable , I buy back

14:50

the electricity and shut down

14:52

the power plant , and this I do for

14:54

every time window of 24

14:56

hours .

14:57

How many power plants you got ?

15:00

You mean different assets ? Yeah

15:03

, it

15:06

depends , because we're not directly in the market

15:08

. I'm responsible

15:11

for like 180 megawatt

15:13

, which is like a medium town , but

15:16

also we have other customers that call

15:18

and use our service , and

15:20

this runs down to 4.5

15:23

million customers .

15:27

Now , another thing in your white paper is

15:29

the distinction between asset back

15:31

trading and speculative proprietary

15:34

trading . How does this distinction

15:37

play a crucial role in the stability

15:39

and profitability of your strategy ?

15:41

Yeah , the speculative trading basically

15:44

would be like you

15:46

don't have a power plant to produce electricity and

15:49

you sell electricity without the means

15:51

to produce it and then you

15:53

try to buy it back cheaper . But

15:56

if it doesn't get cheaper then you

15:58

basically have a problem because

16:00

you cannot deliver the electricity . That is speculative

16:03

trading and asset back trading is . I

16:06

only sell electricity that I can produce

16:08

, so

16:10

asset back trading comes without risk

16:12

because you

16:14

can always deliver on your promise . Interesting

16:18

, it's like seeing a miner . Right , bitcoin

16:21

miner is also asset backed in

16:23

two ways basically , which is kind of mindfuck

16:25

, because he has the assets to

16:27

take the electricity and

16:29

he also can probably

16:32

short Bitcoin because

16:34

he can always deliver Bitcoin .

16:38

Explain that I'm not very smart and I got

16:41

ran over by a truck . So a

16:43

miner he could short

16:45

the Bitcoin , but he could also deliver the Bitcoin

16:47

.

16:48

Yeah , sure , I mean when you short , you

16:50

basically sell something that

16:52

you don't have , correct , and

16:56

then you hope that the price drops

16:59

and you can buy it back cheaper . So Bitcoin

17:01

miner can short Bitcoin and

17:05

then deliver on the short

17:07

position by not buying back the Bitcoin but

17:09

by mining the Bitcoin to close the short position

17:11

. So this is called hedging , which

17:14

Bitcoin miners do a lot in their understanding , just

17:18

stabilize for risks and price fluctuations

17:20

.

17:21

Can I borrow a few brain cells my man ?

17:26

I personally don't think I'm into this topic . There

17:32

are other topics that I probably would lean back

17:34

because I know you guys know more about .

17:37

Like how true Trudeau is . Brad is an

17:39

absolute expert in that .

17:40

I mean he is doing the pot right , so he

17:42

knows how to do this shit and give us a platform

17:44

. So yeah , I mean society blossoms

17:47

by specialized individuals

17:49

working together 100% .

17:51

Well , that's the thing Like for me , and

17:53

here in Canada , for

17:55

instance , the

17:57

Conservative Party doesn't really want to develop

17:59

renewable energies as aggressive or

18:01

make all these incentive systems . So , as

18:04

much as people like to rip me , I'm

18:06

a Trudeau supporter I

18:09

just feel like the more left I go

18:11

, the more green energy is going to be produced

18:13

here at home in Canada . What

18:15

are your thoughts around that ?

18:17

Well , the renewable is just one sector

18:19

that you could use Bitcoin mining . Let's go the

18:21

conservative road . Let's say

18:23

, okay , in Germany it's conservative to be for nuclear

18:25

power , which is kind of Crazy

18:28

. But let's say you have nuclear power . The

18:30

same problem you have energy

18:33

that is not flexible because you cannot shut

18:35

down a nuclear power plant . You still have to

18:37

regulate the nuclear power plant . So

18:39

that boils down to installing bitcoin miners

18:41

near the nuclear power plant and once

18:43

there is a surplus of energy , you

18:46

turn on the bitcoin miner to balance

18:48

the grid . Same thing with coal-fired

18:50

power plant . You can shut down a coal-fired

18:53

power plant Once there is excess energy

18:55

. You need a bitcoin miner . So

18:57

it all comes down . Bitcoin

18:59

miner gives you increased flexibility and

19:02

the energy grid needs flexibility

19:04

to function . That's all

19:06

you can apply it to . It doesn't matter

19:09

which route you go . You always end up with bitcoin

19:11

mining if you want a stable energy grid

19:13

.

19:17

Such an interesting relationship with bitcoin

19:19

and electricity . We

19:23

talk about other types of cryptocurrencies

19:26

and the way

19:28

that they're back . Ethereum used to be

19:30

proof of work and then they went

19:32

to proof-stake . We all know

19:34

there is no second best , but are there any

19:36

cryptocurrencies out there using

19:38

proof of work that has

19:41

any substantial network outside of bitcoin

19:43

? Nothing you guys have seen .

19:45

If there is that's not my talk

19:48

.

19:48

Look at the hashrate no , the answer is no Well

19:52

let's play devil's advocate .

19:55

I personally think bitcoin is most

19:57

suited to the use cases I just put

19:59

out because of the proof of work fundamentals

20:01

that are going on . Liquidity , yeah

20:03

, liquidity , other stuff . If

20:06

there would be another currency , then

20:09

it's the task of the people in

20:12

believing in this currency or trusting

20:14

in that currency to do

20:16

shit and real life and do

20:18

work . Then

20:21

they can prove it to me . But I personally feel 100%

20:24

confident in bitcoin . I think

20:26

I understand it on the level that I

20:28

can confidently say how it will

20:30

interfere with energy markets and that

20:32

it's a benefit for us all . If

20:36

some other guy thinks his currency is

20:39

better , then okay , I'll perform me

20:41

. Challenge accepted , you're in

20:43

the shot .

20:45

Start your energy balancing company with that

20:47

cryptocurrency and we will compete right

20:49

.

20:49

Right , and the market decided .

20:52

Orange , I do have a question for you . Can

20:54

you just project into the future , because

20:57

you just said something . I feel confident

20:59

that I could explain how bitcoin is going to impact the energy

21:01

grid , et cetera , et cetera . Could you project maybe

21:03

10 , 15

21:06

years , so what that could look like and

21:08

how that could be beneficial and give

21:10

some benefits , and what that could

21:12

look like ?

21:13

I will divide it between state actors

21:15

and company actors . I

21:18

start with the company actor because it's simpler

21:21

. The company actor basically

21:24

would have a line of production where the

21:26

company produces a certain product for

21:29

a certain price , and

21:31

I think that every company will be

21:33

much more integrated into energy

21:35

markets because I personally think it will go down

21:37

more this renewable energy route , maybe

21:40

not as politically steered , but also

21:42

because it basically is cheaper if you can

21:44

balance it . So once you're

21:46

, as a company , are able to balance the

21:49

electricity prices by bitcoin mining

21:51

, you can be more competitive . So

21:54

I think every company needs some sort

21:56

of bitcoin mining to

21:58

use this flexibility

22:01

.

22:01

Every energy company correct .

22:04

Every company that uses energy to produce something

22:07

, because

22:10

they always have to make the decision is it more

22:12

profitable to produce my product , let's

22:14

say Kars , or is it more

22:17

profitable to do bitcoin mining ? Because

22:19

in the end , every company wants to increase the profit

22:21

, so it's not like tied

22:23

to the specific product . And bitcoin

22:25

mining is like you plug it in and

22:28

you go and you need some maintenance

22:31

company and access to

22:33

energy markets and that's basically my idea

22:35

, but I want this my end game

22:37

of my company . That's

22:39

like Go . Starting to go

22:42

right now will go like providing the

22:44

service to everyone that wants to

22:46

stay competitive internationally .

22:48

So if I could just jump in as devil's advocate

22:50

, I'm just trying to try to kind of envision

22:52

what you're , what you're saying there with every company

22:55

. Like Wouldn't there be other reasons

22:57

for companies to want to stay operational

22:59

other than the cost ? Like

23:01

, if you have a service that you provide To

23:04

people all the time and maybe for a

23:06

short period of time it may not be profitable

23:08

, but you don't want to For

23:10

go all the services to your customers

23:12

in in a little bit when

23:15

mining was that your customers are Are

23:17

gonna be dependent on whatever service you had

23:19

like . Is that consideration at all ?

23:21

yeah , sure , that's what I meant by

23:23

what is more profitable , because

23:26

if you lose customers it's not more profitable

23:28

. But , like maybe one Good

23:31

example , let's say you produce cars

23:33

and you have your car production line . That cannot be

23:35

stopped right , you cannot totally stop it

23:37

because then it needs a lot

23:39

of cost and energy and maintenance to

23:41

start it up again . But you basically maybe

23:43

can run it a bit slower and then

23:45

safe energy

23:47

for Bitcoin mining , for

23:50

example . If you don't need to produce

23:52

2000 cars in a week , maybe

23:55

you only have orders for 1000 cars

23:57

but you still have the contract for taking

23:59

delivery of the electricity which you have

24:02

to . Then you just turned

24:04

on the means of production a bit to slow

24:06

it down and mine bit can instead

24:09

and Still have the same profitable

24:11

profitability as if you produce 2000

24:14

cars so they have an order for

24:16

1000 cars .

24:17

They have already pre-purchased the electricity

24:20

to produce 2000 cars and

24:22

they're thinking we got all this extra electricity

24:24

, we can produce a surplus of cars or

24:27

we can buy the Bitcoin , but my , the Bitcoin is gonna

24:29

net us more net profit , so we're gonna

24:31

use that extra 1000 cars worth

24:33

of energy towards Bitcoin mining To

24:35

therefore increase our profit margins

24:37

exactly , exactly .

24:39

and the third option would be if the electricity price

24:41

increased in this period , obviously

24:44

would sell the electricity and still run

24:46

your production slower man

24:49

, this guy orange is gonna be rich

24:51

.

24:53

John , are you sure you got hit by a truck man you seem

24:55

to , you seem to catch it on these things , dude

24:58

.

24:58

I'm really lucky . No , I just I'm

25:00

, I am , I'm good at listening . Yeah

25:03

, I'm good at listening . That's about it , though .

25:06

Can I ? Can I pivot a little bit ? You were talking about

25:08

a Bukele and what's happened

25:10

politically there in El Salvador . If I could

25:13

, I think you probably been paying attention

25:15

more than we have on this front , jonah

25:17

, if you mind giving us a breakdown of what's

25:19

occurred there .

25:21

Oh , my man , today is election day

25:23

, sunday , february 4th . It

25:26

is a landslide victory

25:28

. That is my prediction , probably by a margin

25:30

of Like he's gonna get around

25:32

90% of the votes . Here's

25:36

the reality . Man , cinco Maas , who Kelly

25:38

, is the best president in the world . You know

25:40

that because the Tyranical

25:42

fake media , the line media , is

25:46

putting out hit pieces , as of

25:48

last week . Soros , george Soros

25:50

backed companies Are

25:52

putting out these media hit pieces , like from the economists

25:54

, where they say who Kelly is

25:57

protecting the citizens of El Salvador

25:59

from crime , but who will protect

26:01

them from him ? Think

26:03

about that for a minute . Think about

26:05

that headline , just Like , understand

26:07

that naïve Kelly

26:09

is protecting citizens from the violent

26:12

, rapist , criminal gangsters

26:14

that murdered Tens of thousands

26:17

of people . Okay , but

26:19

who's gonna protect them from him

26:21

? Bro , he is made

26:23

. If you talk to any local which

26:25

I have here , they love

26:28

Bukele , they love him , they

26:31

. He took this country from being dead

26:33

to making it alive . It was

26:35

a rebirth and it's really cool how

26:37

. How El Salvador is the

26:40

translation is the savior and

26:42

kind of it's got that story of Jesus where it's

26:44

like death , rebirth . Whether you believe in it or not

26:47

, it's obviously a unique

26:49

, mystical story and the

26:51

story of El Salvador coming

26:53

from this emerging market into

26:55

blossoming into what could be a

26:57

a booming economy , is

27:00

the same story of death to life , and

27:02

Bukele is the source of that . I call him the philosopher

27:05

king , and that's really what he is . He's

27:07

a bit coiner and the reality

27:10

is man . He completely transformed

27:12

this country . So , to circle back to your

27:14

question of what's going on here , he's

27:16

going to win an absolute landslide

27:18

, and what is going to occur after

27:20

today is phase two . Phase

27:23

one of his presidency from 2019

27:25

was getting rid

27:27

of the violence , stopping the chaos

27:30

, stopping the violence , putting these criminals

27:33

in jail . He built a mega prison that

27:35

has got , say , to the art technology , with X-ray

27:38

scanners and all this crazy stuff you

27:40

can't even imagine AI , and

27:43

he locked up all the criminals . That's phase one

27:45

Get rid of it . Phase two is called

27:47

reintegration , which is building up the infrastructure

27:50

, giving people the

27:53

opportunities to have not

27:55

just creature comforts , but the opportunities

27:57

to actually grow their economic

27:59

value as an individual . Firstly

28:02

, by becoming a safe country , so they they're

28:04

not being extorted by the gangsters , so

28:06

they can actually start businesses , but actually

28:09

, for example , simple things like building

28:11

the highways . We don't have highways here

28:13

. Okay , we're bringing in post

28:15

. But postal boxes Okay

28:17

, we talked about that before . That's a big

28:19

deal , man . We need those . We

28:22

need some freaking mailboxes . Okay , we need trash

28:24

cans . You know , we got

28:26

, we got trash

28:29

trucks that come pick up all the trash but

28:31

people put it in the driveway . They don't have , you know , garbage

28:33

cans . So this whole phase

28:35

is going to be this reintegration

28:38

and building this up too . So it's not like

28:40

like it's already not

28:42

having the violence and the chaos and the

28:44

corruption of a third world country . So we're like

28:46

, maybe a world due , but

28:49

this , this is what is going to bring

28:51

us into a first world country

28:53

where we have the

28:55

things and the infrastructure that actually make

28:57

it be able to function properly . And

29:00

things move really fast here , man , the people

29:02

are hungry for more , they're

29:04

hungry for growth , they're hungry for innovation

29:07

. And if you look at the IQs of people

29:09

, here it's like the

29:11

. It's one of the lowest in the world , the

29:14

company that did the study of IQs . Here it's like

29:16

some of the lowest in the world . But it's interesting

29:18

because you go out and talk to these people and

29:21

they don't seem dumb , but somehow when

29:23

they , when you test their IQ , they

29:25

are I forget the

29:27

exact number , but it's like three

29:29

points below what , in America

29:32

, would be considered like legally

29:34

retarded , and I don't mean that offensive way , but that's like

29:36

what the study showed . I'm like people

29:38

would get off of a crime in America for having

29:41

that IQ , for like mental retardation

29:43

. That's a literal , that's like serious . Now

29:46

, when you talk to these people , though , they're not

29:48

dumb , they're very intelligent people

29:50

, but they have not had the infrastructure and

29:52

the opportunities in the education to be able to learn

29:54

arithmetic , you

29:56

know writing , literature , et cetera

29:59

, et cetera , and so that is all

30:01

coming in this phase too . And

30:04

another thing that I'm really excited about is

30:06

every high schooler starting this year

30:08

in El Salvador is going to be learning

30:10

about Bitcoin . It's like Bitcoin 101 . Where

30:14

else in the world are they teaching you about economics and

30:16

like the thing that that

30:18

allows commerce globally

30:20

? You know , it's not just Bitcoin , it's the , it's

30:23

the history of money , and where

30:25

Bitcoin fits into that for the future play

30:27

going forward . So

30:29

there's a lot of really great stuff . And so in LA 2024

30:32

elections today not predicting

30:34

a , you know , just absolute

30:37

landslide , just dunking LeBron James

30:39

.

30:42

When do we expect the results from the election ? That's

30:45

a good question . I don't know , let me . Is

30:48

that a mechanical keyboard ? That is a

30:50

mechanical keyboard .

30:51

I was going to see when we'll find out when the election

30:53

is .

30:55

So it sounds like a typewriter .

30:57

Actually I got the

30:59

clicky keyboard . Okay , I'll

31:01

just show you right here . It's nice , it's got

31:03

the Bitcoin orange , but yeah , it's really clicky

31:05

for sure .

31:07

I just , I just had to smile when you talked about the

31:09

IQ thing because it

31:11

seemed to me like the real life better curve

31:13

meme of Bitcoin , you know .

31:15

Yeah , that's funny

31:17

man .

31:18

Exactly Well

31:21

, thanks again for doing this . Fellas , I'd love to you know , do

31:23

this every so often and just catch up

31:25

with both what you guys are doing and you

31:27

know , just learn Bitcoin , man . That's what I'm

31:29

here for .

31:30

Hey , thanks for having us . Let's

31:32

catch up soon .