I have a little bit of a different crypto video for you today and this one is from Jack MERS who is a legendary figure within the world of crypto. He's an innovator entrepreneur all in the world of specifically Bitcoin He was recently invited to speak with the mainstream media of finance Yahoo and they were trying to set him up a little bit. Not really, but his response of completely dunking on the CEO JP Morgan and I'm talking about Jamie Diamond The guy who called Bitcoin a pet rock came out to this interview guns of Blazing Give this a listen. Yeah, thanks for having me Brad Um, what do I think about Jeffrey Epstein's Banker being concerned that a distributed, decentralized, open public money could potentially be used for bad things.

That's exactly what Jamie Diamond is of JP Morgan So he's just obviously bringing in the whole Epstein thing Epstein's Banker Dude, this caused the internet to just applaud. You could practically hear the Applause across the lands cuz he's right. Like, why do we care about his opinion about it being used for nefarious activities when he basically enabled one of the scummiest people like in modern history sitting on a ski resort. and Davos I don't really care I don't know why anyone cares, right? I mean that guy knows uh, when money is used for bad thing.

so I it's a weird opinion of his and my pet rock was up as you said, 160% last year. Uh, it performed well against the dollar. So I don't know I don't really care what that guy has to say about Bitcoin I don't know why anybody does when you think about Bitcoin and transactions that we're we're seeing and and a lot of the focus at least coming into last year too was not just what the ETF approvals would look like, but what? Also the utilization from here would look like moving out of the the crypto winter. What type of utilization are you seeing? Um, I Mean first of all, Bitcoin's this open public digital infrastructure for the world.

So you see utilization all over planet. Earth for all sorts of different things, right? Anyone can do whatever they want with it, which is part of the beauty and part of the attraction. I Personally think that the Killer Use Case we see over the next few years is the fact that all 8 billion human beings on the planet face Fiat debasement. That means that their government's local currency loses value persistently and debt Global debt to GDP is what? 360% right right now? Wow that I everyone has to own something else.

and I think the Killer Use Case over the next few years is going to be owning something that they can't make any more of. And so that's why I Think Wall Street's attracted to it is because you mean even gold being bullish in the face of a hawkish fed. The world is concerned with the treasury and the bond market. The world is concerned with the debt that governments have accured without any growth.

and they found this thing that's free to hold that's scarce that you can put in your brain. And it it's just the killer app. It's the best expression of Fiat to basement that literally everyone on the planet has to face. So that to me is the killer app.

and then if you know people make payments with it, people do all sorts of stuff with it because uh, there's no Central governing party to tell them not to. which is beautiful, it's pure Humanity On that particular note, I Just want to add in a little bit more context. maybe like boil it down to layman terms. What he's talking about is right now.

almost every Global Superpower, they have their own version of a central bank and they're continually printing money. the money supply is going up and when supp goes up, obviously the value drops. That's why when we see all these charts of like the devaluation of the dollar over the past 100 years, it's down by like 95 97% We hear all those stories of like our grandparents saying like back in my day I could buy a house for six raspberries and now it's a million dollar. uh that's what is going on when you're always in a forever expanding credit system It devalues Whatever The local currency is now on the flip side you have Bitcoin that we know the max everage 21 million and as I was talking a little bit uh, just ago we know it's actually going to be less because people lose their crypto.

so there'll never be more than 21 million. That's the theoretical Max but in reality it's estimated that 3 to 5 million Bitcoin are already lost so the supply is constrain. We already know that's just like a flat value. So if the demand goes up because people don't want to lose or store a value, they don't want to have to battle with inflation all these other things, or if they just want to be outside the purview of the government who would love to know every sing thing you ever spend a cent on? Well, that's where crypto really comes in.

It's Johny Here, it's good to see. I'm curious to get your perspective then on regulations. There's been lots of talk about what exactly that is going to look like, whether or not that would be a bullish thing for the industry, whether or not it's going to hold the industry back. Where do you stand on regulation? and I Guess what are you expecting to hear from lawmakers to hear from Regulators here in the US this year in terms of the movement that we could potentially see? Yeah, so to be clear, me personally and my company, we are Bitcoin Company I A bitcoiner I Think crypto is a load of garbage I Think it's generally a distraction to what this technology and this movement represents and is here to change.

and so how the world is going to sort out the fact that some kid named Vitalic Butterin printed a lot of coins in his basement and then pre-sold them to people and has been promising all sorts of crazy things that have never happened. I Don't know, is that a security but I Guess the point is I don't care. Everyone knows that Bitcoin has regulatory Clarity that Bitcoin is now officially on Wall Street that Bitcoin is distributed. It works.

Its monetary policy has never changed and that's why I'm here I'm here to change the world through Bitcoin and push Bitcoin as far as we can as humanity and Society So the regulation on I think Altcoins are arbitrages on this trend I Don't think they'll be around. you know by the time I die I Imagine you know what what is Dogecoin going to do for society over the next 20 years? Come on, what are we talking about? So I I guess I don't really care Bitcoin has the clarity it needs and I think it's going to be a 5, 10, 20 trillion do asset over the next 18 months. Jack You mentioned Vitalic, of course, the Ethereum co-founder When you think about what we've already seen with the spot Bitcoin ETF and a lot of attention now pointing towards whether we will see an Ethereum or an ether. Uh, ETF Come forward.

Do you believe that? That's like the next kind of damn breing type of moment to really thrust even more institutional, um, knowledge and even more institutional investment and inflows into Crypto as a whole. Even even though I know you just said that. Uh, Crypto is a load of garbage. Yeah, Crypto's loaded garbage.

Uh, Jamie Diamond was Jeffrey Epstein's Banker Like a lot of this stuff is just noise. Pure, unethical, malicious noise. I Here my my opinion, hear: Global debt to GDP is 360% What does that mean? The governments have piled up so much debt with no way to pay it back. So who's fronting that bill? I Mean someone's run up a$ 36 trillion bill at the bar? Who's paying for that? It's a lot of.

And the answer is, whoever's holding the currencies that they can debase that they can print more of, they have to issue more debt and print more currency to pay that bill. And so everyone has to find something else to hold. Do I Want to hold Ethereum? Ethereum's a tech play. Ethereum's a gamble that Jamie Diamond's going to use it what he say in his ski resort Davos interview that he's going to use it to flip real estate.

What does that even mean? it doesn't mean anything I was around I Mean people don't know history I Was around when Ethereum got packed and that the Ethereum Foundation cherp picked transactions. They're like, oh, we broke something so that that transaction doesn't exist. We're going to change the monetary policy here. That's what I'm going to do to hedge the Federal Reserve I Know that they got trillion? Yeah, no thanks and no one on Wall Street thinks that either, right? Bitcoin is the actually only Innovation that is attractive to solve what is the biggest financial problem problem ever, which is Central Banking So Ethereum is a Tech play and if Ethereum turns into the new Tesla like a stock like an equity, great.

Sure, people are going to get stimulus checks and they're going to go Punt Ethereum And you know, bet that Vitalic is the new Elon Musk But it's not a new world Reserve currency that everyone can use to escape the fact that we're all going to get debased the last 100 years governments accured so much debt that we're in serious trouble. I mean the last thing I'll say guys. Market has never been this bad. The 60/40 portfolio that's so safe Bond holders are doing way worse than this guy who just casually owns Bitcoin right? So this is a massive problem and no.

I don't think Salana Ethereum Dogecoin No, I don't think that. that's matters. Pretty hilarious commentary on he's just basically taking jabs back at Jamie Diamond of JP Morgan who particularly hates Bitcoin hates crypto or more so Bitcoin calling it a pet rock but likes e because of the real estate flipping I don't know he was saying some crazy things in Davos but it's strange. It's a little bit a little bit of hypocrisy going on if you will, because even though he hates it, JP Morgan is the authorized participant for many, many of these spot.

Bitcoin ETF So they're more than happy to make money off of it. but he's calling it a pet rock and he said ridiculous things on on the past I Think he's a guy who just doesn't get what's going on and I absolutely find it hilarious that Jack was hitting back so hard just continually referring to him as Epstein's Banker Funny, funny, funny.