Transcript 0:00 Hey everyone, Colin here. We're running a short survey to get better information on who listens to the show, and we're giving away free Blockspace gear if you fill it out. 0:08 If you find value in our shows or listen consistently, you can do me a huge favor and fill out the form. It takes about thirty seconds and helps me and the Blockspace team keep the show running. 0:18 You can find a link to the survey in the show notes. Thanks. Eighty thousand Bitcoin from two thousand and eleven has just moved and sent the Internet into a flurry. Is this an ancient whale waking up? 0:31 Is this a legal notice gone wrong? What's going on? A lot's been happening. Elon has broken from Trump. What does this mean for Bitcoin? Also, Bitcoin all-time highs. 0:43 We're gonna talk about all this and more on Bitcoin Season Two. [upbeat music] Welcome back to Bitcoin Season Two. We had a lot happen this week, um, and we're gonna cover it. 0:59 This is me, Charlie, and Colin of Blockspace Media hosting Bitcoin Season Two. 1:04 We are the screenwriters of this particular season of Bitcoin, so if you have an issue with the plot, let us know, and we'll, uh- If you do have an issue with the plot, then there's something wrong with you because this is writer's room all-time high edition. 1:18 Bitcoin is peaking out just above a hundred and thirteen thousand dollars. It's been on a run since yesterday. It set an all-time high yesterday, set a new all-time high in today. How high are we gonna go? We don't know. 1:30 Uh, we don't write that far ahead, but we do know that orange coin is juicing, and it keeps people happy. 1:36 Orange coin and orange man, uh, there's a lot of topics, but I think the first thing is, Colin, we're-- let's get into, uh, this, uh, these old Bitcoin waking up. 1:49 Um, I had numerous people send me, uh, various articles, uh, people like Bitcoiners, people that are kind of dialed into the, the Bitcoin newsbeat, send me articles and things about, uh, you know, uh, saying, "Oh, uh, there's eighty thousand Bitcoin that hasn't been touched until, uh, this, since two thousand and eleven, and it's finally moving." 2:14 And, um, there are some interesting things associated with this, which have been the subject of conspiracy, but I mean, you know this as well as I do, Colin, like whenever old Bitcoin wakes up and it's a large amount, an old wallet, it's always a news event. 2:28 Now, it's normally like maybe a hundred, maybe a thousand Bitcoin, but this is like the largest one, uh, in a long time, maybe the largest. We're looking at, I think it's like one point something billion US dollars. 2:41 No, it's, uh, it's eight billion. Eight billion. It's eight point one billion. It's like eight point one three billion- Yeah... at current prices. It's a lot of cheddar. Yeah. It's a ton of, it's a ton of Bitcoin. 2:54 So, um, and, uh, I will share this with you. Um, I'm gonna use as, uh, an example this article. I wanna... 3:06 I strain to use the word article from this news site, finger quotes, news site called CipherTux. 3:13 This is the article that many people sent me, and what's wild about this particular narrative cycle is that a lot of these people have been sending me this specific article, and if you read this article, and you get a few lines into it, you'll start to, like, if you pay, if you hang out on, uh, ChatGPT or Claude, uh, you will notice that this is very clearly written by an LLM. 3:38 Like, this is, uh, you know, an o3-generated news story, and it's like dripping with language model idiosyncrasies. 3:49 And so, like, I just wanna take a moment to pause and step back and say, this, these are Internet-native people who are now sending me, uh, FUD articles that are produced by language models not having any clue that these are AI-generated. 4:09 That is to say, there are some points in this article, which is p-poorly written, which are, which do make for some fun conspiracy. 4:17 So there's about, uh, ten thousand BTC per address, and they started moving on July fourth, Independence Day. Ooh. And, uh, I won't go into everything. 4:29 I'll, I'll keep this brief, but before that, we saw these same addresses, one of these addresses on the, on Bitcoin Cash, the other chain. We saw one of those addresses send some Bitcoin on that blockchain. 4:45 Now, it is a, uh, different blockchain, and you might consider this a test transaction. 4:51 It's pretty common for people to make a test transaction just to make sure that the old wallet, the old blockchain's warm, so they don't accidentally... It's, you know, it's a, I guess it's a little bit of a, a, a, 5:05 you know, it's just commonplace. Even the OGs still make test transactions. But, um, you know, 5:12 a test transaction on a different blockchain, um, may indicate that this is a compromised private key, so that maybe this is an old wallet, uh, old private key, which has been compromised or somehow stolen. 5:27 And this could be an indication that, uh, they're trying to use that same private key, which before the Bitcoin Cash split, uh, you know, signs for the same addresses. 5:37 Maybe they're trying to make sure that that private key works to send the equiv-- you know, the corresponding addresses of Bitcoin on Bitcoin Cash, so that maybe it, you know, flies under the radar so that anyone monitoring these large, you know, billion-dollar addresses doesn't notice. 5:53 So there's that thing. Um, and then there's another fun, uh, 6:00 uh, subject of conspiracy where-Um, days before these funds moved, uh, you had some transactions be sent to that wal- to those wallets where they included a message in op return, like an actual like human text readable message in op return to those wallets that say something to the equivalent of, "We're giving you a legal notice. 6:27 We have taken possession of this wallet and its contents. You have to prove that you're, that you have ownership of this wallet, otherwise we will legally consider it abandoned, and we will take possession of it." 6:39 So, um, and it links out to a particular website and what appears to be some kind of like corporation called the Solomon Group and, um, yeah. Um, are these things related? 6:54 Is this a wallet which has been compromised or seized or abandoned? We don't know. I'll just cut right to the chase. We have BitMEX Research, one of the few good real like research accounts out there. 7:09 They went and actually emailed and reached out to this corporation, which is, uh, linked in these messages of notice. 7:20 Um, they reached out to the advisory board members, um, who are named as advisory to this corporation, and, uh, the overwhelming response is that it's probably a scam. 7:30 So we confirm that some of these people are in fact real people and on a board, at least in an email reply, and that, uh, they don't have knowledge of this. 7:41 So this is, uh, as per BitMEX Research, um, the board does in some part appear to be legitimate, but not really have knowledge of these things. So like this is an ongoing story, but basically like 7:54 this type of messaging strategy where you message, you know, an old wallet on Bitcoin with a message in op return, which has some kind of like scary legal boogeyman message in it, this is actually a pretty common tactic that Calvin Ayre has used over the years. 8:14 If you're not familiar with Calvin Ayre, he is the former billionaire who, uh, funds Craig Wright, the guy who's been claiming to be Satoshi and suing Bitcoin Core developers. 8:26 So this is a, a actually a strategy that he has used before to, uh, take these messages and try to use them in court to, uh, basically harass, legally, um, various notable people in Bitcoin. 8:42 I'm not saying that that's what this is, but, 8:46 um, you know, this has the hallmarks of an unrelated, uh, just inexpensive to execute, um, kind of like goofy, uh, attack that happens to coincide with the moving of these funds. I've talked a lot, Colin. 9:01 I'm gonna throw it to you. You are not as deep in the weeds on this as I am, but like- And thank God for that... 9:05 when you see a big address move- [chuckles] Yeah, when you see a big address move, what's your usual initial take? Yeah. 9:12 To me, it's usually okay, an OG or a whale is moving funds, cashing out, or just taking them somewhere else. Or I mean, if it's twenty ten, twenty eleven, it's hard to say this, it's like an exchange operator, those... 9:26 But I don't think that's what's happening here. Exchanges have pretty high churn on the coins that they hold, right? Yeah. 9:32 One n-note about Calvin Ayre, I always said Ayre, but I guess that's wrong, before I hop into this- He incurs the wrath and ire. That's how I think about it. There you go. That makes sense. 9:42 Um, most people don't realize this, but Calvin bankrolled probably like all of the BSV mining operations. 9:48 So Bitcoin Satoshi's Vision was a fork of Bitcoin Cash that happened I believe in twenty eighteen, if I'm recalling correctly, and it was this-- It was a huge civil war in the Bitcoin Cash ecosystem after obviously Bitcoin Cash had its civil war with Bitcoin back in twenty sixteen, twenty seventeen. 10:09 But, uh, anyway, C-Calvin's kind of this shadowy figure, a lot of weird stuff surrounding him. Um, some unsavory allegations that we won't get into right now, but needless to say, a seedy character. 10:22 That brings me into the legal message, which is weird for a number of reasons. Number one, if you're a law firm 10:30 or you're giving counsel to someone, I don't think that you are going to tell them, "Hey, put, put a legal notice on a public database for everyone to see," rather than just sending that to the supposed owner of that addre-address. 10:48 Maybe they didn't have the owner. Still a weird thing to do. Um, the other thing-- So first, I just don't even know under what world like that would be something that would be encouraged. 11:00 Um, also kind of a strange thing to potentially commit a crime and hack a wallet. I'm not saying that's what happened here. I don't think- Yeah... that is what happened. 11:08 [chuckles] But you're like, "Hey, by the way, like this is ours now." "Hey." [laughs] Yeah. "You forfeited it." 11:15 Um, maybe, maybe it was-- To be charitable, maybe this was held by a counterparty, and there was a clause at some point that said, if you do not-- like kind of like asset forfeiture, if you do not give us a notice or, you know, do something under the contractual agreement, then we end up taking control of this. 11:33 I find that hard to believe for eight billion dollars worth of Bitcoin, but hey, weirder things have happened. 11:38 Um, there's a part of me that almost wonders if this notice is almost like, um, plausible deniability for someone being like, "Hey, I don't have access to these Bitcoin anymore. Um, didn't you see the op return?" 11:53 [laughs] The op return proves that I don't own these anymore. Um, all that being said, it's very strange. 12:01 It almost reminds me of a limited hangout that agencies will use to kind of throw people off the trail of an otherwiseUm, stinky situation, so to speak, right? 12:13 So like a limited hangout from, you know, someone like the CIA or another intelligence agency is when they throw limited amounts of information on a topic of interest with the public so that they can latch onto that and kind of miss the bigger story elsewhere. 12:29 So I almost wonder if there's something going on with this. If I had to have my guess, though, you know, there were a lot of colorful theories going around with this. 12:41 A Coinbase engineer actually said that this was maybe a hack. I'm not sure. Maybe that's true. 12:48 Mo- more often than not, and anytime this happens, you have people messaging you about it, and, and, uh, you know, both in Bitcoin and without, saying, "Oh, did you see this news story?" 12:58 And it's kind of like, yeah, I mean, that's a lot of money, but this stuff happens every day. I mean, you'll always see the, the hype accounts on Bitcoin Twitter saying, like, "Just in," Oh. 13:07 "Entity moves two billion dollars." Two billion. [laughs] Yeah, for twenty cents. Like if, like if you want Bitcoin to go up. Yeah. [laughs] So I don't really know what to make of this. 13:19 You're gonna have a good piece for us next week, though- Yeah... 13:21 for the Blockspace newsletter, kind of diving into not just this, if, as I understand, uh, your thing is the piece correctly, but just kind of, uh, the history of early Bitcoin adopters and their massive treasure chests and what ends up happening when those coins either lying dormant or getting moved. 13:38 Yep. 13:39 Yeah, again, if you're more int- if you're interested in more of this story, I'll be doing a related piece on this next week in the Blockspace newsletter, blockspace.media, to check that out, or link in the description. 13:52 Um, so yeah, some, some great conspiracy, uh, to be had around this address. My default assumption, just an OG whale waking up. That's usually what it is. But we don't know. How useful is it to speculate on this? 14:05 It's more just good, like, conversation, uh, good armchair, like, table conversation. Okay. People, people love it. I mean, who doesn't- People... 14:14 love hearing about some dude who held Bitcoin when it was worth nothing to eight billion dollars? Yeah. Yeah. 14:21 But maybe that f- they found that old computer hard drive they threw away, and they got that wallet.dat file and they're like... Yeah. 14:30 That's a story, um, a total side note, that always comes into the media scope whenever Bitcoin runs, is the poor- Yeah... sucker in the UK that is currently trying [laughs] to... 14:43 I don't know if he's trying to buy the dump, or he's, he's been, he's been, like, basically, uh, extorting his, um, or not extorting- Yeah, no, there's a land, there's a landfill, and he's trying to petition to, like, the, the local council- The council will let him basically-... 14:57 to let him dig up the landfill... dig up the landfill to try to find his hard drive, which is no doubt corroded but worth a couple billion dollars at this point. 15:04 [laughs] Yeah, it was, it was, like, two hundred million many years ago. Yeah. And so, I mean, we're talk- Yeah, it's now nine, it's now ten figures, so. I mean, that's been go- that's been... 15:13 This is, this has been a story since I first started reporting on Bitcoin in twenty seventeen. I mean, this guy's been trying for almost a decade now. [laughs] Yeah. I just... Honestly, I feel really bad for him. 15:25 But, uh, that's neither here nor there. Yeah. Just goes to show that there are a lot of people with stories like that. [upbeat music] Hey, Will here with Blockspace Media. 15:36 Did you know that we have individual feeds for all our shows? If you're watching The Mining Pod, Bitcoin Season 2, or The Court Show, be sure to check out the individual feeds. 15:44 You can find them on your podcast player of choice, whether that be Spotify, Apple, YouTube, et cetera. Just type in Blockspace Media and you'll find all our shows pop up. 15:53 Or just type in the individual show name, like The Mining Pod or Bitcoin Season 2. Be sure to hit that subscribe and give us a five-star rating so we can continue to bring you the best content in Bitcoin. 16:05 [upbeat music] Let's go on to, I think, something which is equally fun to talk about, and yet, uh, will not... I'll just, I'll just spoil it. We don't have a resolution for this either. 16:16 But this is the new, this is the past news of the cup- the, the past week or two, which is, um, Elon is officially breaking from [laughs] Trump. 16:25 Uh, the, the dynamic duo, the inseparable, the boys who- The whiz kid- [laughs]... and the popular kid. The, the [laughs] the, the nerd in the back of the class. They've had a falling out. 16:40 And it, and it happened, and it happened on Elon, Elon's platform, X. No, it actually happened on, they each on their own social media platforms were shitting on the other person. 16:49 [laughs] Which there's something amazing about all this, and I'm gonna go ahead and share this article. 16:53 But when you think about how just absurd this is, that two billionaires, one of whom is the president, the other of whom is, like, I guess on any given day, the richest man in the world, you know, depending on what Tesla stock is doing versus Amazon, et cetera. 17:08 But you have the two, two billionaires, a president, sitting president of the United States, and one of the most powerful men in the world, blasting each other on social media companies that they respectively own. 17:19 On their own, on the social media platforms that they each own. 17:21 It's the most passive-aggressive shit, 'cause, like, Trump was, like, uh, truth socialing on Truth Social, and Elon was responding indirectly on his own platform, X. 17:34 It's like we all feel like the child whose parents are, like, arguing by proxy through each other. Right. And we're just like, "Please, fix the goddamn economy." 17:42 And it's funny too, 'cause this is, like, the twenty-first century equivalent of a bunch of media barons kind of just, you know, absolutely harpooning each other on the front page of The New York Times or The Wall Street Journal. 17:54 Yeah. But obviously, the power center for attention and for news has completely shifted to these other platforms. Yeah. But all that being said, this, somehow, Bitcoin is a black hole. 18:05 Everything gets sucked into it in some way, whether it be money or attention. 18:08 Bitcoin has now entered the conversation here, as Elon Musk is saying that not only will he establish the American PartyThe third party to try to piggyback, I guess, on the MAGA populism that has been Trump's brand. 18:23 And he's saying that he's not only starting a new party, but that Bitcoin will be at the center of it because fiat is hopeless. 18:31 Um, Elon Musk says his new political party, I am quoting from the block here by an article by Danny Park, that his new political party, the America Party, will embrace Bitcoin. And he says fiat is hopeless. 18:44 It doesn't really seem like there is too much out here other than him just throwing that out, because that's my kind of first thing with this is Trump said he was going to support Bitcoin. 18:54 Now, what did that get us so far? Um, the charitable- It didn't get us, it didn't get us an SBR The charitable take, the charitable take though is that it opens the path for an SBR. 19:05 He signed an executive order saying they are going to look into that and see what that would look like. 19:10 Maybe take some of the exchange stabilization fund, which is a federal fund for playing in forex markets, and convert some of that to Bitcoin. 19:16 Maybe just not selling the Bitcoin that the, uh, the US government currently holds from seizure and from things like the Silk Road. Um, on the SBR side, that's what we have. 19:28 We also have gotten a rollback, a rollback of the broker rule from the SEC, 19:35 um, which w- basically barred banks from holding cryptocurrency on their balance sheets and from engaging in certain services with crypto companies. Uh, we've gotten a repeal of Choke Point two point O, 19:49 and a dashing of that shadow operation that was pretty widespread under the current administration. 19:55 And we've had a few of these, and then we had the Genius Act, which is not related to Bitcoin, but, uh, has, has stuff in there for stable coins. So we've gotten some meaningful policy wins on the Trump side of things. 20:07 Now, whether or not this is a good thing kind of depends on where you fall in the anarcho capitalist versus Bitcoin is eventually going to eat finance, you know, spectrum, and that means finance eating Bitcoin as well. 20:22 But at the end of the day, it is, I would say, the most proactive any president has been about Bitcoin since they started. 20:30 Now, that also came with a bunch of baggage like the Trump and Melania meme coin, World Liberty Fi, Trump NFTs, and just, you know, the, uh, you know, the, the flywheel of grift that the Trump administration likes to use when it sees a good opportunity and capitalizes on it, right? 20:49 So my question then for Elon and the America party is, what does supporting Bitcoin actually look like? 20:54 Does this mean accepting it as a campaign donation, which I believe the Trump administration already did, and so did, um, you know, like RFK during his run before he dropped out to endorse Trump. 21:07 Does it look like, you know, mandating Bitcoin as legal tender, which I don't really think you should necessarily do. You shouldn't mandate it. Um, you should maybe exempt it from taxation, and that goes... 21:19 But that's my, kind of my next thing. 21:21 The biggest thing I think from most Bitcoiners' perspectives, um, in terms of how you can support Bitcoin as a political candidate is, number one, you leave it the alone and you just don't try to regulate it because you don't need any of these weird control mechanisms that they're trying to set up to regulate the industry. 21:37 And number two, you just eliminate capital gains for it, right? I think that would probably be the upper bound of support for Bitcoin. Anything short of that I feel like is kind of lip service for what's already been... 21:49 Lip service that doesn't really build on what's already been done. It doesn't make sense. If it's money, it's not really something you put capital gains on. 21:56 Although, to be realistic, given that it's going up forever, Laura- I mean, yeah. [chuckles] I have a hard time imagining it's ever gonna happen- No... anytime like it's, it, it- It's never going to happen. Yeah. 22:07 Unless, unless literally the, the, I think the nation state as we understand it today collapses, that will not happen. Yeah, yeah. 22:13 Which, you know, if you've been, uh, monitoring the situation over the past six months, that could happen any day. 22:21 [laughs] Which is a perfect transition into what I kinda wanna, you know, leave this episode on, which is, you know, this is Thursday afternoon that we're recording this. 22:31 You're probably listening to this on Saturday morning. Um, we just crossed over thirteen k or hundred and thirteen k. This is an unrelenting price advancement, and it's like we have the memory of a goldfish. 22:45 If you think about it, there have been multiple... May-maybe you're, maybe you're like insulated and in the nothing ever happens camp. Good, smart, that's wise. 22:53 But the, a lot of the rest of the world, and particularly like Western media, has been in an absolute chaotic whipsaw. 23:00 And, uh, let's just review some of these like ec-economic doomsday predictions coupled with like maybe global chaos doomsday predictions, which have happened just in twenty twenty-five. 23:14 And this has roiled markets and, uh, caused people to, uh, say, "Everything's over for all markets and Bitcoin." And yet, here we are all time, S&P all-time high. Nasdaq all-time high. Bitcoin all-time high. 23:27 Gold ripping. Like, um, it's the, the, you know, the real secret is just to sit on your hands and do nothing. Turn off the news and DCA Bitcoin. It's like that simple. But let's, let's just like kinda review. 23:41 So the mains, the main narrative has been the doomer predictions around, uh, tariffs. And this is for good reason. Like, having, you know, major punitive tariffs on other countries from, from the US, um, 23:56 is, uh, not very good for free markets and, uh, would at, at the very least on the short term, have negative effects on a lot of the American economy. Yet, where are the tariffs? We do see some. 24:12 It, it hasn't really, uh, uh, the, the fear of tariffs, whether they will or won't or to what magnitudeBe implemented have not really like seemed to affect the, the markets that much on a smoothed average. 24:26 And yet I remember calling like multiple times in February, March, April, like people thinking that it, it was actually joever. Like you, you, I mean, look at the, uh- It's so joever. It's so joever. 24:41 I mean, you know, Bitcoin did pull back to like seventy-five K. Totally. You- I mean, markets were in free fall. The S&P and the Nasdaq and the Dow shed 24:52 fifteen-ish percent, maybe more, and people were calling for a recession. 24:57 I mean, most of the major banks in the US ticked up their recession prediction to above fifty percent, and then you had the MAGA camp on the other side saying, "No, Trump is playing four, five, sixty chess." 25:11 And in some ways, they're seeming kind of vindicated right now because the Trump administration did end up brokering trade deals with a lot of key partners. 25:21 But now it seems like we might be strapped in for some more volatility 'cause he's just coming out and saying fifteen percent on copper, or fifty percent on copper, we're gonna b-Brazil, we're going to tariff Brazil. 25:34 It kinda seems like it's open season again. Th- you know, I, I generally kind of fall in a kind of middle ground here. I think a lot of people assume that Trump just shoots from the hip and doesn't know what he's doing. 25:46 I think that shooting from the hip i-is what he, is what he knows how to do, right? And I think that there is more rational thinking behind these things than not. But to your point about having short memories, 26:01 I, I don't know if we're just in a new environment, in kind of a new paradigm where everything moves so quickly that markets are almost thinking, "Well, this is bad news, but good news is right around the corner, or this bad news is counteracted with this good news." 26:19 Um, I think that generally speaking, though, most of, 26:23 most people in, who are playing the markets right now are really kind of banking on a, uh, Fed rate cut this year and kind of like as-ascribe to the Lyn Alden thesis, nothing stops this train because- Yeah... 26:37 I mean, The Big Beautiful Bill just got passed. 26:40 Despite all of the DOGE efforts to cut, you know, waste in the government, I think they ended up getting in the ballpark of a hundred and fifty billion, which is just nothing, right? 26:49 Like that's not gonna have any meaningful impact. Great job. A hundred and fifty billion is a lot of money. It's nothing compared to the overall GDP and debt issue, which is, which was the omission- Yeah... 27:00 and the stated goal of balancing it. Right. Um, anybody with half a brain knew that this was like likely a swan song and probably not gonna happen. But, you know, you gotta root for him at some level. 27:13 Like, yeah, at least, at least somebody says they're gonna try. So- Right. Uh, yeah. One hundred percent. 27:20 And that's a lot of the Trump and Musk fallout, although there's probably a lot more behind the scenes that we're- Yeah... not seeing. 27:27 But, you know, Musk has opined on social media that he feels like everything he did at DOGE was just a waste of time because of The Big Beautiful Bill. A lot of people share that sentiment. 27:38 Um, there's been a lot of kind of, 27:41 you know, a lot of personal digs on both sides, and also Trump just straight up in The Big Beautiful Bill in Congress, like exempting EVs from tax, uh, from tax credits and tax-privileged status and things like that. But 27:56 I don't wanna really spend too much time on Elon and Musk. Yes, I mean- But all of it- Yeah, there's that, but it's... Yeah, so like, um, 28:03 you have like the, the drama at the national level, yet if you zoom out and you squint a little bit, um, there's [chuckles] the, the, all of, all the markers or markets are just up and to the right. 28:17 It's like, it's like, it's really hard to like justify the fact, this idea that it's all joever. Rather, I think the party gets to continue on a little bit longer. 28:29 On that note, there was a moment two to three weeks ago where, uh, I think everyone has already forgotten about this. It was the, is the, are we going to nuclear war with Iran fear. 28:42 Like, um, if you recall, uh, [chuckles] like, uh, you know, there's been this, the, uh, Israel-Palestine thing for a while. Don't wanna dwell too much on that. 28:54 But as Israel goes on the aggro against Iran, and the US kind of, uh, runs, runs assistant, like, uh, we have a long and storied history with Iran, um, it's nuclear in nature, and, uh, and, uh, like I would go outside my little bubble of Bitcoin Twitter, and I would go into like Facebook or, uh, in real life, and I would see the most doomer, pessimistic people in the world thinking that, uh, we're going to, that we're gonna go to nuclear war. 29:26 And, uh, I've never felt so disconnected. Uh, I feel like these people just forgot that we made it through the Cold War for thirty years without nuking each other, and the markets have responded accordingly. 29:39 We didn't nuke each other, and markets continue to go up. It's kinda like this. Wars are for buying, or the threat of war is for buying. You sell if a nuke is dropped. 29:50 And, and I will always bet against a nuke being dropped, because if nu- if a nuke is dropped, then, um, there's really no position you can have which is safe. 30:00 So like, this is my- That position is in a bunker with a thousand rounds of ammo and a thousand cans of food. Yeah. And that person is the most miserable person, uh, in the happy path. 30:12 So I'll take the, I'll take the optimistic scenario, but, you know, I just wanna like reflect on that because we had a bunch of things this year, and we're sitting at an all-time high, and the Fed looks even m- you know, more and more dovish as each month goes on.And, uh, uh, it's like hard not to be more bullish than ever on a short timeline. 30:34 Short being like two to five years. And I want to like encourage the listener, like maybe your bags are in the S&P, maybe they're in Bitcoin. Hopefully, they're more Bitcoin than anything. But, um, like 30:47 this is, uh, we always live in interesting times, and, uh, what the tried and true strategy is to buy Bitcoin and sit on your hands. 30:58 That is so much more difficult said than done, and yet, um, through all the chaotic past six months, that has been the best strategy. Maybe you're in alts. You're down bad if you're in alts. 31:10 [chuckles] Um, Bitcoin is like, uh, it continues to be the play. Now, there may be moments where it's not. Um, there may be moments where, uh, you have... you are underperformed or outperformed. 31:21 But like, bro, it's easy mode. Just buy Bitcoin, close your eyes, and turn off the news. Keep this podcast on 'cause we're the only sane and rational, uh, people in the entire world 'cause we're the screenwriters of it. 31:35 Um, so I just kinda wanna like wrap this, this pod up with, you know, reflecting on the chaotic past six months and say, oh, you know, are we gonna wor- are we worried about more tariffs in July and August? Well, maybe. 31:49 Uh, I don't really concern [chuckles] myself that much with those things right now. Uh, if there's one thing Trump likes is it's making money, and people feel happier when the stock market's going up. 32:01 So, uh, you can only be a doomer for so long. I'll throw it back to you- Yeah. for final thoughts, Colin. I mean, yeah, honestly, the doomers and the black pillars so far, I don't wanna say they're 32:15 all the shots they've called are wrong. It's just the culmination of what all of those shots mean ha- has not come to pass, right? That being said, we are in a completely tumultuous time right now. 32:28 I mean, but someone was making the point that World War III has already kind of started. It's just, it's not as evenly distributed yet. Take that for what you will. 32:40 Not going to say one way or the other, but this is probably the closest you'll have us get to any sort of generic Bitcoin podcast where we'll just say- Yeah. [chuckles] If that is true, then just buy Bitcoin. 32:49 [chuckles] Just sit on your hands, you know? Yeah. Um, yeah, I don't know what's in store for the next year or so. 32:57 I do think that at least for twenty twenty-five, despite all of the shakeups, despite the tariffs and stuff, we've seemed to dock to recession for now. 33:04 But I think per Charlie's point about no one has-- everyone has the memories of a goldfish, that could completely change in a day when a news item comes up and just blows up the entire market. 33:14 So another thing I would say is go touch grass, go hang out with your family and friends, and plant a garden. Seriously. It is the best thing you can do for your mental health. It's, uh, you know what? When St. 33:26 Francis of Assisi was asked what would he do if the world were ending tomorrow, he replied, "I would plant a tree." So with that in mind, plant a tree, go buy Bitcoin, and we'll see you all next week. Peace. 33:40 Hey, everyone, Colin here. We're running a short survey to get better information on who listens to the show, and we're giving away free Blockspace gear if you fill it out. 33:48 If you find value in our shows or listen consistently, you can do me a huge favor and fill out the form. It takes about thirty seconds and helps me and the Blockspace team keep the show running. 33:57 You can find a link to the survey in the show notes. Thanks. [upbeat music]
