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Bitcoin is love, man.

Yeah.

Come on, people, let's go, let's go.

Act like you got somewhere to go. Let's go.

Okay.

Hey, Nestor, good morning. This is Mr. G.

You can bring your stuff out to the curb.

I'll be there in about 15 minutes.

Bring 'em out. Bring 'em out.

Bring 'em out, buddy. Let's do this.

First stop, Elvis.

Try to have your stuff out on the curb.

That way it'll be like a quick pick up,

you get your money and it's one, two, three.

Thank you so much.

Good.

Got it.

All right. See you next week.

- Hello. - What's up, man?

Oh, my God.

Yo Lewis, check it out, man.

Read the pamphlet. Very important.

Next time I don't send you paper, I'll send you a Bitcoin.

Take care, bro.

Hey, big Nestor, what's up?

Bring 'em out, bring 'em out.

Hey, Mr. Lawrence, good morning.

This is Mr. G, the recycling guy.

I'm Mr. G, I pick up cans and bottles,

and I facilitate the transport between people

that want to sell their cans and bottles

to recycling facilities around the city.

And that way I get to spread out the signal about Bitcoin

and its magical powers.

Yo, Sylvester, I can give you one thing,

and it's better than that, it's Bitcoin.

What's up, Pitbull?

All right, look, check it, you got Cash App?

- Yeah, I got Cash App. - Alright, look, check this out.

I'm going to show you another wallet to download.

It's a lot better than dealing with paper all day, you know what I mean?

- Okay. - You want to send money and receive money,

you just hit "receive," one, two, sending a transaction,

three. Done.

So, how this works is that this is outside the bank, bro, and it's much better.

See you next time, bro.

- All right bro, y'all take care. - Yeah, you too.

- Thank you, brother. - You already know, all right.

Bitcoin is love, man.

I believe that it can do a lot more for society

than simple trading in dollars and stuff

because the dollar's just- it creates all the worst incentives in people.

- All right. - This is a good pamphlet for you.

- Yes. - Just check it out again.

I'm not here to push people into Bitcoin.

I'm just here to move the needle as best as I can.

And the more people that come in, the more people can receive the benefits

of having hard money.

Bitcoin itself is a hyped up fraud.

The asset itself is creating nothing.

I would short it if there was an easy way to do it.

I think it's a scumball activity.

The signs were everywhere, but now it's official, we are in a recession.

When I think about the significance of Bitcoin,

I liken it to the significance

of fire in the role of Prometheus.

We're trying to create something that's digital gold.

Why the hell would you want to do that?

Digital gold is no more gold than digital food is food.

- It's a Ponzi scheme. -The Madoff scandal

has given greater impetus to efforts

to overhaul the laws that govern the financial markets.

I see the light.

Huh? Avocado toast, wha?

And to me, a little bit, the cryptocurrencies are like that.

That's good lighting.

I think all lawyers and all politicians are frustrated actors.

By and large, there is an extraordinary degree

of ignorance about crypto and Bitcoin in Washington.

The dark underbelly of crypto is its critical link

to financing terrorism and human trafficking

and drug dealing and helping rogue nations like North Korea and Iran.

Well, a lot of people are going to hear you make a hundred grand a year

and you're living paycheck to paycheck.

That seems... it seems like crazy talk.

When you detach and decouple money from the state,

incredible things can happen.

You go to Central America, you go to South America, you go to Africa,

these are markets and continents

that see Bitcoin as a necessity instead of a desire.

In tomorrow's world, we will tell our children

instead of buying real estate, we'll tell them buy Bitcoin.

It brings economic justice.

People of color are looking for alternative solutions

because we know that we're not getting a fair shake.

If you're starving, if you're rich, if you're this race, it doesn't matter.

This thing is going to support and do its job no matter what.

Okay, I'm a Bitcoin home miner.

It's a hobby of mine.

I actually also use my machines to dry clothes.

I got my machines right there, actually blowing a lot of heat on the clothes.

It's part of my hobby.

This is no different than the guy that tunes cars in his garage.

It's a little far-fetched

for a lot of people to understand right now, right?

But maybe in like 2028, 2029, 2039,

people will maybe look back and say, "hmmm,"

he's right.

Cryptocurrency, blockchain technology allows decentralization.

Is it a perfect process? No.

Is it more perfect than our process?

I'm not sure.

But it's a process that allows more people to participate.

It allows for the unbanked and underbanked

to be able to participate in ways that they were not able to participate in.

It expands the investor class.

ABUBAKAR NUR-KHALIL: Bitcoin, from a philosophical point of view,

it provides a sort of common ground for people,

which is seldom seen in the world in general, politically speaking,

whether you're left or right or all of that.

For the first time, we have a common,

I guess, initiative that binds people from all walks of life to actually work on this.

For the first time, we all agree financial freedom is important,

so let's build towards that and have a brighter future.

So, I think a lot of young folks, they're in the best place possible

to really push that effort.

The payments and money, they have a long history.

It's hard to imagine an economy that operates without money.

And you talk money, you talk payments, you talk payments, you talk money.

One form of money is this form.

With this form, we don't know the history.

What's important is that you can easily verify

that this is a legitimate five dollar bill.

Two dollars and 98 cents,

that's how much money it will take to buy a gallon of paint.

It's Friday morning and Tom Havens is to buy the paint after school today.

To make the purchase, his father gives him a crisp new five dollar bill

that he received at the bank yesterday.

Finance is typically not taught in schools,

but it should be taught in schools

because it's deeply connected to the real world,

and we're not letting our kids

when they graduate from high school

have any sense of personal finance.

Why is it not being taught? I don't know.

- You think about what you want? -Gummy bears.

YUSUF ABDUL-ALI: I didn't know about the stock market

or stocks until I got to college.

My mother didn't have stocks.

The school system wasn't talking about stocks.

I realized that a lot of my teammates,

kids that I'm going to school with,

they're learning that from their parents.

I got into Bitcoin end of 2019.

That's when I started doing my research.

You know, at first I'm thinking, I'm not reading this.

I'm not getting into this.

And the first article I read, it was talking about

generational wealth gaps in the U.S.

It touched home because that's something

that, you know, that I dealt with personally.

I grew up in Springfield, Mass.

Inner city, tough neighborhood.

I had two brothers, four sisters, two bedroom home.

My mother was working a lot, so you had to survive on your own

and kind of be more reliant on yourself.

What I'm realizing now is that

because she had all her kids and she gave us everything that she could,

she doesn't even have, like, a retirement really set up for herself.

Is there, like, boats in Miami?

I realized that that's not a position

that I want to put, you know, my kid in.

I wanted to give something back.

When she turns 18, I want to have

the option of saying, you know, can I pay for college?

You want to start a business?

All right, here's some seed money for it.

Just a little different from what was, for me,

kind of bootstrapping everything and digging.

So, you will live in a boat in Miami,

that's what you want to do?

Yes.

- What color would your boat be? - Pink.

- A pink boat? - Mmmm-hmmm.

You know, Miami's a Bitcoin city?

No.

It is.

When I read that a lot of people in Africa were adopting Bitcoin

to try to help their family, you know, help themselves out,

that's when I made my first, you know, investment into Bitcoin.

And then it kind of clicked for me.

And I got the fundamentals of Bitcoin and what it was about.

Same finish, though.

So, I'm coming up like this?

I'm a coach at heart.

I coached for ten years straight.

If I have some knowledge or if I feel like I can, you know,

help you in any way, I'm going to try to do that.

I was brought up to believe that

it's your job to look after your own financial well-being,

but, I don't remember ever being given a good education

in how the financial system works.

There's this idea that we have

these dollar bills in our pocket,

and that those things are in some sense

backed by the government, and that's what money is.

But that's really only what money's been since the nineteen-teens.

We're not disrupting a system that's been around for a thousand years.

We're disrupting a system that's been around for, like, 50 years.

It did pretty well for a pretty long time.

But the cracks are now showing.

And you see this in a bunch of different ways.

As the central bank of the United States,

the Federal Reserve is charged with promoting monetary

and financial stability and the safety and efficiency of the payment system.

The Federal Reserve is creating money out of thin air

by buying U.S. debt and other financial assets.

As a consequence, the money is worth less.

Inflation is way too high and it's really a big burden on American households.

The purchasing power of the dollar

has declined on a straight line basis since the sixties.

It never goes up. The dollar only goes down.

The worry is that we've now gotten so addicted to easy money for so long

the system of central bank printed money

is not necessarily any better in the United States

that it is in a place like Venezuela

or a place like Zimbabwe,

places that have 1000% inflation.

If you think about money hard enough,

you realize that for the past 25,000 years,

the money's always been defective.

It's just a question of when will it utterly fail?

I think what you have is human civilization struggling

with how to solve the problem

and never quite getting it right.

All systems fail,

but at the same time, we're not living in caves anymore.

So, we make continual progress.

We figure stuff out.

Because we are now the most important economy in the world,

most of the world relies on our system.

You have to have an element of flexibility in a currency system

that tries to be all things to all people.

And so a lot of the debate

and the frustration around the fiat currency system,

it's actually about who gets to set the rules

and who gets to decide how it's flexible.

1989 may be the most important year

in economic history since the signing of the Magna Carta.

You had Communism falling symbolically, with the fall of the Berlin Wall.

The West won, the East lost, in lots of ways.

That created maybe the best 20 years

we've ever seen on the planet

in terms of trade as a percentage of GDP.

We had more trade going on than any time since the '30s between countries.

That's all confidence.

So, a confidence revolution creates a credit bubble

because credit is confidence.

But at '08,

we really should have thought about something.

Something happened, and we're like,

"Oh, there's a crisis." Boom.

And it broke.

People lost their houses.

People lost their jobs, globally.

And I think Satoshi must have looked at that and said,

"This ain't fair."

I think that's where the White Paper came from.

Satoshi did two amazing things for humanity,

create Bitcoin and disappear.

Us not knowing who Satoshi Nakamoto is,

I think is a feature, not a bug.

I have a lot of appreciation for Satoshi.

I have a dog named Toshi.

You don't have someone to drag in front of Congress

to answer for how the software works.

You don't have someone to sue.

You don't have someone who's able

to flip a switch and turn this thing off.

No, I'm not Satoshi.

In 2008, I got the-as far as I am aware, the first email

that anybody received from Satoshi.

It was basically asking about the citation for hash cash.

I invented this thing called hash cash in 1997,

and it started a conversation about it being a bit like digital gold.

There was a mining, there's a cost of mining.

You produced something digital

that you could verify was scarce,

but people's sort of next question was,

but won't everybody mine an enormous amount of it,

because you could throw more computers at it and create money.

And if you had a machine for printing money,

you know, converting electricity into money,

people would go nuts and computers get faster

and it would become hyper-inflationary.

This would be solved by Satoshi Nakamoto's Bitcoin White Paper.

It was a criticism of central bank monetary policy.

And the Bitcoin revolution began.

We had to find a way to issue money

in a decentralized process,

so that governments would be removed from their ability

to debase and to manipulate currency.

We don't know who the person is.

We don't know if it's one person or many.

We have some ideas based on forum posts and time zones that they've been in,

but it's all really ultimately just a guessing game.

It's a little bit like those people who say that Shakespeare's plays

are too good to have been written by one chap from Stratford.

This White Paper is pure poetry.

Even if you can't read the 13 pages,

just the first page

says pretty much everything that you need to know.

It's a religious event.

It's a once in a lifetime thing,

and I'm skeptical because I am one,

I'm a founder that people lionize

and they look up to and whatnot.

But whoever this person is, like, truly gave us a gift.

And it was a selfless gift.

Bitcoin's supply is capped at roughly 21 million Bitcoin,

and each Bitcoin can actually be subdivided into 100 million

what are now known as Satoshis: units, the smallest unit of Bitcoin.

In a traditional banking system,

the bank ensures that you don't spend your money twice

because it debits your account as soon as you spend that money.

With Bitcoin, there's no central party to trust.

So, we have this double spending problem.

I could send my Bitcoin to my first friend,

and then I could go around and send that same Bitcoin to somebody else.

Who's to say that I spent it or I didn't spend it?

And Satoshi very cleverly solved it

by introducing the concept of mining.

Bitcoin is not complicated.

The white flag is in the air.

Two miles stand between Kyle Bush and a record-tying victory.

Bitcoin? Umm...

Bitcoin is umm...

Umm...

I've heard of Bitcoin,

but, you know, I'm kind of an older generation,

I like to hang on to my cash.

I don't use Bitcoin, but I support it

because that's the new thing.

It was impossible for man to fly

up until the point where the Wright brothers

took their rinky dink plane and then flew it in the air,

and thereafter, at every point in time, it was true that man could fly.

So, really, what is invention, right?

With invention you are invalidating some rule of the world, right?

It was true that you needed a government,

you needed some large entity to operate a monetary system.

And from the point where Bitcoin came into existence, it eradicated that.

I'm not sure that you can imply,

sort of, any negative emotion or intents to Bitcoin, right.

Bitcoin made something better, it made something possible.

The implications of that I think will unfold from there,

but it's hard to say if they're going to be positive or negative.

Bitcoin at its base layer is what's known as a broadcast system.

Picture a megaphone to the entire world.

Anyone that wants to listen and take in the data that I'm broadcasting.

According to the protocol,

the world is to take that information in,

verify it, ensure that it's valid,

and then append it eventually

to what's known as the blockchain.

Blockchain is a ledger of transactions

that is maintained by some kind of consensus mechanism.

In a blockchain environment,

there's no one person responsible for maintaining that ledger.

The ledger is maintained by a consensus of computers working together.

What is a bank?

When you pull up your smartphone

and you scroll through to your bank account,

that's what a bank is. It's a ledger.

All it is, is a deputized business that we've given the privilege

of maintaining this ledger.

It is a glorified bookkeeper.

So, blockchain solves that because what is blockchain? Bookkeeping.

And there's a lot of banks who know that

if we adopt blockchain, they're out of business.

It exists in the open

and nobody has any more right than the other to change it.

And so you can opt in or opt out of it at any time,

but it's a system that exists on its own.

The significant thing about cryptocurrency

turns out to be that it's not really secret.

It is possible for a transaction

on the blockchain

precisely because it's indelibly recorded to be discovered,

by the authorities, should they wish to do so.

In its three count complaint,

the government says a man known as

the Dread Pirate Roberts

was able to rake in $80 million in two years

through an illegal site he created.

A secretive online marketplace for drugs,

one so perfect

that it could make the street corner dealer obsolete.

2011, 2012,

many people speculated that the only reason that Bitcoin existed

was to buy drugs on Silk Road,

and no one really knew to what degree that was true.

It got taken down in mid to late 2013

and Bitcoin crashed immediately after,

but within a month it had reached new all-time highs.

The cryptocurrency market has exploded over the past few years.

Now most of that growth has been driven by speculation and gambling.

But we also know that crypto provides a new payment option

for criminals and cheats.

Do criminals use Bitcoin?

Of course. All useful tools are used by criminals,

including cars, cell phones, the internet,

food and water, mathematics, language.

It's not that bad actors, ransomware, etc.

aren't focused on, today, on using crypto to try to transfer value.

But what criminals are finding they are increasingly

likely to get caught if they try to use Bitcoin.

In 2021, at least $14 billion

in digital assets went to criminals.

Now that's a lot of drugs and a lot of ransoms and a lot of bombs

and a lot of nuclear materials.

"Dear Senator Warren, I'm a fan.

"I think you're very smart

"and you genuinely care about building a more equitable society.

"But respectfully, when you talk about Bitcoin, you sound silly."

The crypto industry claims that it doesn't need to do all of the know your customer

and other anti-money laundering checks,

because crypto is uniquely transparent.

"Bitcoin is a monetary instrument

"that does not require trust in governments

"to not inflate away the value of money or trust in banks to stay solvent."

So, then, the question becomes,

so what is it that the Bitcoin,

what problem is it solving?

Your voters are rejecting the legacy financial system because it fosters

economic and racial injustice

and perpetuates wealth inequality.

Bitcoin is hope.

Bitcoin's decentralized, transparent democratic network will inevitably replace

the failed and corrupt partnership

between governments and large banks.

Our children want to believe.

They want to believe in something.

In the past 22 years, we've destroyed almost all the institutions

without recognizing the importance that they play in individuals lives.

And many of our children are unanchored in many ways.

They don't know what to believe in.

They're searching for something.

If I buy Bitcoin,

am I buying a share of stock or am I buying a pork belly?

- What am I buying? - Or are you buying air?

People can agree that Bitcoin has value and then they could decide it doesn't.

I mean, because it doesn't have any actual value.

I mean, people can agree on anything.

I mean, that's how you have a bubble, right?

At one point people thought tulips

had a lot of value in Holland, but then they didn't.

I would accept Bitcoin now only because I can sell it.

There is a market for it, but I would not want to hold on to it long term.

There's not that many people who want to buy pet rocks right now,

but in the long run,

you know, the pet rock probably has more value because at least it's a rock.

I think tulips are the original NFT.

That was the first time, you know, at a global economy

they decided, hey, here's something

that might be worth a whole lot more

than the strictly functional value of a flower.

Value is in the eye of the beholder.

And when we all convince ourselves that it's worth something,

and then all of a sudden we all decide that it isn't,

that's kind of what happened with tulip mania.

It's easy to dismiss something if you can just strap a label on it

and then ignore it.

The tulip mania that everyone likes to quote

had one bubble and then went away.

There's something different going on when an asset continues

to appreciate over the long term,

goes through multiple speculative cycles.

As you can see, I am no longer 23.

I used to be 23, so perhaps I'm speaking in a generational voice,

but to me it is an astounding thing

that people impute value to this thing

that no human eye has seen, nor human hand touched.

Bitcoin is not tangible.

You can't touch it, you know, but you also can't touch,

you know, your share in a corporation.

Prior to temporarily going off the gold standard,

which it was supposed to be temporary, but here we are,

you know, 50 plus years later and we haven't returned to the gold standard.

Now, eventually we will.

Gold is money.

If you're waiting for gold bars to show up

before you release goods around the world, it doesn't work.

It's much easier, more efficient, more flexible

to have this digital transaction standard,

this virtual ledger system.

2016, '17, '18, when you see the cycle play out,

you start to realize that, you know, this actually has something very unique in it,

and it is truly anti-fragile

and it's taking on its own life,

which is kind of interesting to observe.

There is a new and exciting industry

in the United States of cryptocurrency,

whether Bitcoin or otherwise, that are generating jobs.

Entrepreneurs who are creating new values, new hedges against inflation,

new opportunities,

and it is fast moving.

It is dynamic.

Texas? Texas is Bitcoin country.

You know, I'm reminded of an old line,

which is that you never ask anyone if they're from Texas.

And the reason is simple.

If they're from Texas, they'll tell you.

The reason Texas has been so attractive to Bitcoin is its low cost, abundant energy.

And there's a big debate about Bitcoin and what is its impact on energy,

and you have some environmentalists who hate Bitcoin because they said

it consumes all of this energy.

I actually think Bitcoin is incredibly pro-environment.

One of the challenges you have is when you drill an oil well,

along with producing oil, it produces natural gas,

the natural gas is burned on fire, and the problem is that pollutes.

Bitcoin is presenting an enormous opportunity

to go in to a producing oil well,

to take that stranded gas

and to put it into a generator right there on site.

Use that gas to produce electricity

and use that electricity to run Bitcoin mining rigs.

We're actually in the Giga mining manufacturing facility.

This is the covered section.

This is where we manufacture and fabricate the actual Bitcoin mining data centers

that we deploy to on and off grid solutions

in harsh environments.

Most of them we actually use for ourselves internally

and mine Bitcoin with them.

Some of them we also sell to oil and gas companies

or other people that need a data center or a generator for Bitcoin mining.

Made in Texas.

The first premise is that there's value in Bitcoin.

Past that, everything else makes sense.

If you say, hey, there is value in Bitcoin, then you would say,

hey, there's value in physically sweating in 100 degree heat

to manufacture an engine

to more efficiently mine Bitcoin.

We're going to pull in natural gas through this two inch line.

It's going to run through here, all this natural gas.

And we're going to bring it straight into the engine,

where we're going to start combusting it, running these pistons,

and then getting the engine.

And all we're doing is trying to turn that big flywheel

to create electricity.

So, a Bitcoin miner is a computer that can only do one simple math equation.

And that's an equation called SHA-256.

So, it's just a hashing function

and this computer basically guesses every day all day long.

It started off doing thousands of guesses a minute or a second.

Now millions of guesses a minute or a second.

Now trillions of guesses a minute or a second as they become better.

There's energy that is utilized for every guess,

and they're just always constantly looking for new Bitcoins.

If they get one,

they get a brand new set of Bitcoins,

or they mine a block of Bitcoin.

You have to do work to deter people from cheaply hacking the system, right?

You're throwing up a barrier for security of the blockchain.

And so when you're mining Bitcoin what happens is the Bitcoin software

is throwing up a series of math problems to solve,

and over time the math problems get increasingly difficult.

Now the math problems don't themselves

relate at all to the underlying transactions.

The transactions are what they are.

But what the Bitcoin network is doing is it's saying

you're only going to get a Bitcoin reward if you devote enough work

to pass through the gateway and then be eligible.

Beyond that, it's basically a lottery.

And so these computers, they're running 24 seven,

and when you're running one of them, they're a little loud,

and then tens of thousands of them, you know, you need ear protection.

You need massive industrial fans,

you need massive electrical infrastructure.

Bitcoin mining will happen till 2140.

And now 99% of Bitcoins will be mined over the next 20 years.

And then after that, it's kind of like okay,

what's going to happen with the last 1%?

Where is the price is going to be?

But the reality is, is I believe Bitcoin mining

is here to change the energy industry forever.

Bitcoin uses more electricity per transaction

"than any other method known to mankind."

Just one uses more energy than a million Visa transactions.

I mean, cars are bad for the climate, but at least they take you somewhere.

So, we're standing here, it's July 1st.

July 1st last year, none of this was here.

My dog ran straight through this facility all on dirt.

I see this is opportunity. I see it's jobs.

I see it's economic impact.

Bitcoin mining is a game of scale.

The bigger piece you are of the global pie,

the bigger piece of that Bitcoin pie that you're taking as a reward.

Bitcoin is nuts.

It's insane, from a climate change standpoint.

It uses all this power to create this fictional currency.

And it uses so much damn power.

That's like, why are we doing this?

Everything we should be doing right now should be focusing on

providing our existing needs, not adding to existing needs.

You know, last year, the total Bitcoin consumption in the world

was represented 5% of the U.S. load.

Why would we add to this problem

for what I view as a convenience item, not a necessity.

I'm talking about necessity here.

People need to get to work,

they need to eat, they need to warm, cool their houses.

They don't need Bitcoin.

So, the usage of energy in Bitcoin mining is there

to secure the network.

It's so that you have a fundamentally secure,

immutable ledger that can't be tampered with.

Is that a good use of lots of energy?

I think so, but I understand if some people don't.

Everyone has something called a utility function.

So I may really value Bitcoin, but if you don't use Bitcoin

or you don't understand it, or you don't think it's valuable,

you are going to think that spending energy on Bitcoin is useless.

If people find utility in it, there will be demand for it.

And at the end of the day, it's the subjectivity, right,

that makes it so difficult to have

logical arguments about energy consumption,

because we all have very different preferences

and we all have very different perceptions

of what is and is not valuable in a modern society.

What makes Austin really unique right now

is that not only is it the strongest community aspect, but it's also the place

where the builders on the Bitcoin network are coming to build.

What's happening here right now feels very early, kind of like Silicon Valley.

I'm optimistic that Austin is kind of going to represent,

for much of the rest of the world,

the kind of vision that we think Bitcoin can create.

Even when I'm not "working,"

I'm always Bitcoining.

So, like, you don't really eat it, you just swallow it.

I never have had an oyster before,

but I know I'll like them.

Ladies and gentlemen, I love this community.

Bitcoin's awesome.

Thanks for coming out for this tonight.

- Enjoy. - Cheers.

You got me into it, back in 2019. December 2019.

- I've stuck with it ever since. - Hell yeah.

I can see, like, naturally, a lot of acquisitions right now.

Yeah, I think there's some companies that have cash,

definitely buying up.

It's the bear markets,

like, everyone wants to buy Bitcoin in the bull market.

But no one wants to buy it when it's down.

I was a freshman in high school when I found out about Bitcoin

through an article on TechCrunch.

I realized that this idea that money could be created

and governed by math and energy and code

and not controlled by the government, was powerful.

From there I started trading cryptos and buying Bitcoins

and eventually started mining.

I started mining in my parents' basement with a few graphics cards,

and from there we ended up building out a shed in my parents' backyard

and started running miners there,

and then raised some capital from family and friends.

So, my goal is to make Bitcoin mining accessible

to anyone via an application or an app on your phone.

I wanted to provide the opportunity for exposure to mine Bitcoin at a discount,

without having to deal with the problems and hassles of getting into the space.

It's my goal that anyone can promote this to their community

and allow their community to mine Bitcoin.

Today we literally want exactly that shape.

Wherever you see that shape in possession on the pitch, that's what we want.

Get everything. Let's go.

Come on.

Nice.

This referee, I'm not sure he's--

this referee and these linesmen,

yeah, they're all over the place.

Emma, do you have a Bitcoin wallet, with Bitcoin on it?

This is the wallet he set you up with?

- A long time ago. - Are you joking?

- This is a long time ago. - Okay, no.

My name is Conor Okus,

and my role on the team is Director of Bitcoin Services.

I feel like that's quite a new, unique job title,

and I don't even know if that exists anywhere.

Full stop. I don't know if it exists at a football club.

The role has kind of emerged out of my passion for Bitcoin and football.

Now I'm just in charge of helping the club integrate Bitcoin in different ways.

Some initiatives are around just, you know, our fans being able to come into our bar

and pay for their beers, their snacks with Bitcoin, helping educate the players.

Some of the players may be taking parts of their salary in Bitcoin as well,

and there's no banks involved,

there's no third parties involved.

It's just peer to peer, right?

But the beauty of that is that, like, say someone comes from another country

and they want to pay for something,

maybe they don't have pounds, they don't have whatever.

They can just download the Bitcoin wallet instantly without needing a bank account.

So, that opens up, like, Real Bedford to the whole world

in terms of being able to accept payment.

London is beautiful.

It's full of culture and history

and interesting people and art

and what I think is perfect weather.

I want every Bitcoin user to understand

that Bitcoin works because the software works,

and the software works

because there are people maintaining it and looking after it.

I contribute to the open source software called Bitcoin Core.

It is software that is able to connect to the Bitcoin network.

It is able to download

the entire Bitcoin history, aka the blockchain.

We are trying to look for all the ways

in which something can go wrong.

I put, like, my blood, sweat and tears into some activity,

I know that the labor that I've put into that can be preserved for the long term

and there's, like, no one really

that can take that away from me arbitrarily.

We've seen countries now adopting Bitcoin as legal tender,

whether it be El Salvador or the Central African Republic.

And that represents,

hopefully a snowball effect that will see other countries adopt it

and people really start

to see it as a use case for them to pay for goods and services.

We were drawn to this place four years ago for the first time.

I was driving through Europe with a camper van,

there was a small shack on the beach

and started to drink my Bacardi Coke.

And then I said, "can I pay in Bitcoin?"

Bitcoin, eh, no, it's a scam, blah, blah, blah.

And it took me 2 or 3 days, and then he started to accept Bitcoin payments.

And then, you know, he saw Bitcoin going up.

He saw that I was paying double price for a Bacardi cola so he was happy.

And that's when we fell in love with the place.

In that bar I met a guy, we told each other if ever such a bar becomes free

we will take it.

Four years later he calls me and he's like,

Didi, there's a bar available, investment, everything.

So, I will if you make it a Bitcoin beach bar.

And now I'm here and we have a Bitcoin Bambam Beach bar.

Hey.

I grew up in the 90s as a normal guy buying a huge house.

The goal of becoming very rich,

you know, becoming a millionaire

because that would lead into happiness.

And then a few years later my father got sick.

I got a huge burnout.

When my father died a year later, I had the funeral and stuff.

And I told my wife, let's, let's do a trip.

After two weeks, I felt energy

and I felt this amazing feeling

being on the beach, building a sandcastle with my kids.

And we just said to each other, let's say yes to everything in life.

So, we embraced adventure.

We were living on a campsite.

We sold everything we had. There is no alternative.

I am all in Bitcoin. There is no bank account.

For me, it's a stupid question

when people ask why will you spend Bitcoin?

Because that's the only thing we have.

Payment coming in.

High five, Bitcoins coming in.

I am a Bitcoin revolutionist.

It means I want to support this network.

I'm not in it for the millions,

I'm in it for the real revolution.

Let's change the world and give everybody access to my beach bar.

If they have a bank account or not, they can pay.

And that's for me, the most important part.

And, you know, I don't mind when they pay with cash,

but filthy cash will be exchanged

into Bitcoin later that day.

Cryptocurrency is just the next step in the evolution of money.

We started with the shells from the beach and we ending now

after digital currencies like PayPal into cryptocurrencies

that can be used by everyone

and, you know, decentralized.

We robbed the bank and changed the gold into Bitcoin.

There was a tweet from Jack Dorsey and Jay-Z

saying that they're setting up this BTrust.

It's 500 Bitcoin to look at increasing the representation

of developers and engineers

in the Bitcoin open source ecosystem

from Africa and India and the global South.

If Bitcoin adoption is really going to fly from a, out of necessity,

that's where the money needs to flow,

and it needs to flow from the people that understand and live there

and have a proven track record

of doing right by their communities and doing right by Bitcoin.

I was announced as one of the four people

selected to be a board member for BTrust,

and we locate,

educate, and remunerate Bitcoin open source engineers

starting in Africa but particularly in the global South.

Welcome to Nigeria. Welcome to Niger.

I am Abubakar.

I'm CEO and CTO of Recursive Capital which is a Bitcoin venture capital fund

to invest in early stage Bitcoin companies such as Bitnob.

I'm also on the board of BTrust,

where the mandate there is to grow the Bitcoin

development ecosystem in Africa initially

and then we can scale it out globally.

This is Bitnob, it's a Bitcoin company.

So, essentially what we do is we build financial services on the Bitcoin layer.

So, what we're doing is we're reimagining how banking works today, right.

How do people get financial services.

And saying what if the layer that they're doing that is part of the problem.

How do we try these on a new layer,

on a more global layer, right?

So, that's sort of how I reimagine everything I'm building.

So, what we do is we give people a chance to save

in Bitcoin stablecoins to give people the chance

to, you know, borrow money using their Bitcoin as collateral.

Around the time I was born and a few years afterwards,

one naira,

which is the currency of Nigeria, was at parity with one US dollar.

Now it's around 600 naira to the US dollar.

So, over my life I've seen it lose a huge amount of value.

In that sort of environment it's very hard to

maintain and hold wealth.

If you can't hold and if you can't save,

then it's very hard to build a future for you and your family.

You're constantly going up a downward escalator the wrong way.

The biggest issue for a lot of Nigerians

who don't use banks is perception, right?

There's this perception that banks are not for them.

Banks are for the rich. I do not have ID.

You know, all those things that you require of me to open your bank account.

They don't think it's worth the hassle of opening a bank account.

So, they prefer to always have easy access to their money.

How do they do that for those who don't use banks?

Yes, yes, yes, yes, yes.

Ordinarily, in America, if you were to spin up a PayPal account, for example,

it's going to be a smooth process.

Here in Nigeria, you spin it up,

they request for more KYC, they ban the account,

they think, you know, it's fraudulent because as soon as you open it,

most folks just load a ton of money inside, like $1,000 plus,

so then you end up getting blocked.

We can't really get our government to buy Bitcoin.

So, how do we ensure that we as Africans, as Nigerians,

get the upside of this at the end of the day?

One way of doing that is to make sure that as many people as possible

are holding Bitcoin, regardless of the amount.

Sent.

Bitcoin, we can build financial services.

I think it brings a lot of freedom for us as well

and going into a digital world

at least levels the scale for us.

We officially started the Bitcoin tour

in the walking street Florida, where they are, like, people behaving as small ATMs,

where you can exchange dollar for pesos

because it's forbidden for us

to buy more than 200 US dollars monthly.

So, when you can't buy with the official rate,

you have to move to the blue rate,

where you can get dollars.

So, this is the free market.

- So, this is how people... - Wow.

...get access to dollars, through people on the street.

They are like human ATMs.

- You give pesos, they give you dollars. - Wow.

Hyperinflation at more than 3,000% hit Argentina in 1989.

Argentina is second

in a World Bank ranking of countries

with the highest inflation.

Argentinians have turned out in the thousands,

demanding state aid to help cope with the country's surging cost of living.

When you go from the stable to the volatile,

you just got to spend it as fast as possible.

You don't know if tomorrow we're going to depreciate 20% or 100%.

You just don't know.

So, this is the Central Bank

where actually there is a sign there that tells that they will keep

our currency stabilized, that they will bring financial prosperity to our people.

And it's funny because they do exactly the opposite of what they say.

Our money lost 99% of its value in the last 20 years.

The government confiscated my life savings two times.

So, the big lesson here is that if you hold Bitcoin with your own wallet,

your keys that you control, nobody can confiscate.

And that's how I became a Bitcoiner.

In Latin America, you don't have to explain why Bitcoin.

Anywhere else, you maybe in the first world, you have to explain why Bitcoin.

Cryptocurrencies are solving a problem.

For people here, it's a way to protect themselves from bad economic policies,

protect from governments that control, sanction people or control the financial system.

In our community, many have taken different roads and different approaches,

and all of them are valuable because all of them

are bringing decentralization and these tools to the world.

That's what it's all about.

Hey, welcome to La Crypta.

This is a crypto house, we are building a lot of stuff,

like, it's a Bitcoin community.

This is the place we work every day.

Most of the things we build here are open source

so most of the programs on development should be like open for the community.

It should be free.

This is a typical Argentinian local food.

It's a local barbecue. We call it asado.

We are in La Crypta, which is a nice place for Bitcoiners

and people fighting for freedom connect.

It's like we were ready to be able to understand,

or to find some solution

that could be a tool against inflation.

I talk about Bitcoin like a silent revolution.

It's like evolution with a silent "r."

We are in a small neighborhood called Palermo Chico.

When I was 13, I got kicked out of school

and I went to to live here with my grandma.

I was 14 years old and I met Bitcoin.

This room we called it the prison cellar because it looks like a prison cellar.

This is the graphic card with which I mined Bitcoin.

And we always laughed because this was also even more full of things.

We always say in my family,

we joke that I was very lucky that it never fell on me.

As you can see, this is very bent because of all the things.

Then here, this is where Lemon started for me.

This is the genesis of Lemon, in this whiteboard.

Argentines, we always like to find an idol or a passion.

I reckon that this is one of the cities

with the most active cryptocurrency users in the entire planet.

And I said, you know what?

I'm going to do something related to the finance part of this.

And I wanted to do something massive.

- How are you going to pay? - In Bitcoin.

Using my Lemon card.

Can I show it? Of course.

So, this beautiful card, it's the first card on the entire planet

to have, like, a Bitcoin logo and an Ethereum logo right next to Visa.

This for us is, like, the clash of the two worlds.

The merchants might or might not know about Bitcoin,

but regardless, I can use my Bitcoin directly in the transaction.

So, as soon as I put the card in the POS,

the amount of Bitcoins get converted to local currency

and are used for the payment.

It's such a tangible solution that so many people are seeing that is true.

People have already understood what crypto can do

so once you get to that point,

there is no way back.

San Martin de los Andes is the nicest city in Argentina.

It's a micro region in Patagonia

because of its mountains, the best lakes.

I lead a project named Crypto Valley.

It is the first region where people and merchants

make daily transactions in Bitcoin.

Lots of cities have tried to really make

crypto transactions real

and we have made it true here in San Martin de los Andes.

I can go to the main avenue and with just a little Bitcoin in my wallet

I can buy a coffee, I can cut my hair, I can buy my dog's food.

This future economy lives in a tiny town.

We are speaking about a new technology

that is directly relation with people,

where the power is in the hands of the people.

Bitcoin.

In Buenos Aires, you have poor areas,

and those are mostly neighborhoods

that were built with migrants

from the countryside of Argentina

that, you know, they don't have a place to stay

so they basically settle with what they have.

The first experiences I've had were exactly with people

from the villa 21, and villa 21-24,

where we invited them to the Bitcoin meetups in Buenos Aires

to teach them about Bitcoin and to see how they experience

and also to learn from them, because I always said,

this is not about inclusion, this is about interconnection.

We saw Bitcoin as the beginning of an innovation cycle

that would bring financial inclusion

or financial empowerment for everybody.

I think it's in the emerging markets

where these technologies will, will really thrive.

And that's why you see all these communities,

because here it's an exponential value contribution,

where in other places it's an incremental improvement.

Man, crypto changed our lives.

We need to allow everybody in this country

and this region the opportunity that we had.

I think it's about time.

The only thing that Bitcoin needs is time.

I've spent a lot of time in Nigeria and Ghana and Kenya,

South Africa, and I've been living in, in Central America

so I've seen, like, this desire versus necessity dynamic.

When you're in a place like this in Central America,

when you're in a place in South America or Africa, people don't look at the price.

They're looking at, like, I need to send this money, I need to receive this money,

and this is a way to do it.

I think independent development cannot take place without an independent currency.

Ghana is the sixth largest producer of gold in the world today.

Our parents, grandparents, and great grandparents fought for our independence

in various African countries as we know.

It is important to acknowledge the economic effects of slavery

if we are to truly understand the things I was talking about today.

Africa only wins with Bitcoin's help.

And Bitcoin only wins with Africa's help.

If everyone has access

to Bitcoin and Lightning, then we don't need banks

to actually settle these payments and interface with real people.

Anybody can use Bitcoin and Lightning.

It means that right now somebody can send money from the US

to Nigeria and it actually settles

and they don't have to actually touch Bitcoin themselves.

I think what needs to happen is

for folks to realize that the Bitcoin community

has to still be more general, as opposed to, like,

heavily technically focused.

One of the things that I learned three years ago when I came to the continent

is just how big an issue and a gap the remittance problem is,

and how well Bitcoin solves that problem.

That is so far detached from what we hear in the United States,

and a lot in Europe about the price

and the digital gold and all this B.S.

which is not really solving anyone's real problem.

So, the real problem is sending money and the money transmission.

Bitcoin means that, one,

people can participate in ways

that previously there was a reason, right,

so you can't work remotely because, oh, we can't pay you

because we can't do transactions with Nigerian banks

because they're blacklisted, whatever.

So, some of those barriers are being removed.

The other barriers about perception and so on remain.

But at least we're getting a foot in the door,

and that represents freedom.

And because we're resilient, because we're innovative, we have what it takes

to create our own solutions that are based on Bitcoin.

Hey, how are you, good?

The problem is humans will naturally over time corrupt.

So, if you could be run by a non-human benevolent dictator,

- so if a program could manage you... - A.I?

And what is that program? That program's Bitcoin.

I believe that democracy is failing and Bitcoin will help it.

A lot of Bitcoiners believe that democracy is failing and we should scrap it.

Unlike a human with all that power,

power corrupts, absolute power corrupts absolutely.

But with Bitcoin, we've seen as its power increases, it's still following,

it just actually solidifies and becomes more immutable.

And that's interesting because the difference from a human

who would become more corrupted with more power.

It's more deceptive.

I coached,

once I graduated, for ten years straight.

When I stopped coaching,

I was trying to find that piece.

I think that's what Bitcoin is, is allowing me to do now.

And still do it through basketball is allowing me to have that that piece of,

you know, giving or just here's some knowledge, here's a gem.

I started a nonprofit back in my hometown,

created the Bitcoin Classic,

which was the first basketball tournament ever in the U.S.

rewarding players in Bitcoin.

We're going to Rucker, the most iconic sports facility,

venue in New York City.

As a kid, I used to watch VHS tapes of the Rucker Park

people playing, Dr. J, Kobe Bryant, Allen Iverson.

So, to throw this type of tournament there, it's like hitting a home run for me.

I'm going to try to make it as big as possible.

We're sitting in the middle of Harlem,

where many of the people in this area are underbanked.

The blessing about cryptocurrency

and blockchain technology is that

anybody can get into it.

The danger is the same thing.

You do have people that are swindlers.

You have bad actors out there, and we need to be able

to have the right amount of regulation to be able to address that.

As Bernard Madoff emerged from house arrest for a court appearance,

lawmakers from both parties criticized government regulators

for dropping the ball.

I want to know who is responsible

for protecting the security investor

because I want to tell that person

that they suck at it.

Every, what, seven to eleven years

there's a financial crisis.

Usually what that means is some player got overleveraged or overextended,

and then the government comes in and bails them out,

prints a bunch of money.

And usually there's a price to pay in terms of oversight,

in terms of regulation that are hoisted on the industry

to correct for that particular thing that went wrong.

It takes a very long time for regulation to catch up with,

like, how business is actually done.

This area has been called the new money,

digital cash.

Some have called it the way of the future.

I have another name for it: reckless,

predatory, foolish, and dangerous.

Nobody should be surprised that governments generally do not like Bitcoin.

They don't like it for one very simple reason,

which is that they cannot control it.

Individuals and markets need a money that is not controlled by any group of people,

and Bitcoin provides that, finally.

One message that I've been trying to carry to the Bitcoin community

is there is one force on Earth strong enough to kill Bitcoin,

and that's the United States government.

By and large, there is an extraordinary degree of ignorance

about crypto and Bitcoin in Washington.

The president came out with an executive order,

in that he tried to organize the government

to come up with a framework in which cryptocurrencies and blockchain technology

would operate in a prudent and reasonable manner.

That enthusiasm came in large part because you had so many Americans

who were invested in this technology in one way or another,

had some exposure or some interest in it.

I'm getting into crypto, with FTX, you in?

It's FTX. It's a safe and easy way to get into crypto.

I don't think so.

In the fall came the mighty collapse of the exchange FTX.

Breaking news overnight, FTX founder Sam Bankman-Fried

arrested in the Bahamas, set to face a judge this morning

after U.S. prosecutors found criminal charges in connection with the multi-billion dollar

collapse of his crypto company.

As you've had headline scandals,

sometimes the prudence of the regulation

is overshadowed by the story that's on the cover of the paper.

The technology of Bitcoin,

technology behind the blockchain

is not what caused the losses

in the case of FTX.

I think the fact that somebody who people had so much trust in

and that trust was misplaced,

that I think has had a hampering effect

on the evolution of the markets and regulation that's focused

only on prudence is now focused on defensiveness.

What we just saw was a massive collapse of a centralized exchange,

which sort of resonates with the manifesto of the Bitcoin community,

which is not your keys, not your coins.

People really need to be focusing on self-custody.

The revolution is to be your own bank.

That doesn't work if you're moving your Bitcoin

and keeping it on a place like FTX.

I think it's ultimately about ownership of your assets.

With that ownership comes,

also a higher level of responsibility and accountability.

I mean, what's the point of Bitcoin if you don't have the freedom, frankly,

to touch it, it becomes useless.

Right now we're at Auto Club Speedway in Fontana, California,

racing in the NASCAR Xfinity Series.

And we've got a 300 miler up in front of me today. I'm starting seventh.

I know that I'm the first NASCAR driver that has fully taken

my entire sponsorship and salary in cryptocurrency, which includes Bitcoin.

It's been better for me financially than anything else I've done.

I've seen the power of Bitcoin.

I've seen what this technology can do.

It's liberated me from debt.

It's liberated a lot of people.

As a world, we throw away lots of tires every year.

And over the years that tires have been made,

they've never really been recycled in a way that is really economically viable.

And so we've spent a lot of time trying to figure that out.

We cook them,

so we raise the temperature of those tires

to the point that they become a gas stream,

and then we're able to cool and condense that gas into oil.

One of the elements of renewable energy in general

is that you've got to figure out

what is the use of that energy after you've generated it.

And in our case, what we've launched

and what we've been focused on

for the last five, six years is taking that power

and running our own blockchain Bitcoin data center.

We want to make this a mass market solution

to a problem that the world has created and never fixed before.

One of the geniuses

of why Bitcoin is so secure is because it uses energy, right?

If we use no energy, it wouldn't be as secure.

Bitcoin has the potential of being essentially venture capital

for new development of renewable energy.

We are about an hour and a half from Des Moines,

the capital of Iowa,

and this is a Bitcoin mining facility that I built in 2019.

It all started off with one shipping container

that was in California running at a solar farm,

that we ended up dropping off right behind us

and started using energy to mine Bitcoin.

Energy is the only commodity that cannot be stored easily.

You can store oil, coal, but energy has to be used the second it's generated.

So, out here, where there's tons of wind and there's not as many people,

that energy, it's just going to be sitting there and evaporating via heat

and effectively dissipating, and no one gets to use it.

We incentivize as a government and as society

production of energy and not consumption of energy.

So, we deploy our Bitcoin mining facilities at these constrained areas

to utilize and capture energy that would otherwise be wasted.

People have done the math,

and Bitcoin accounts for something like

0.3% of global electricity consumption,

and people worry about the climate emissions impact

associated with Bitcoin mining,

they forget that it's actually decaying, right?

It's leveling off, the issuance rate,

and eventually Bitcoin mining will probably shrink as an industry

because we will have emitted most of the Bitcoins

and so the economic incentive to mine will be less.

We will eventually get to a point where Bitcoin

is a net zero consumer of energy.

And all these arguments about energy consumption will disappear.

What you might hear is that there's an increase

in the use of renewables to power Bitcoin mining.

And the reality is the opposite,

that as Bitcoin mining migrated from China to the United States

and to other countries,

the carbon intensity of Bitcoin has increased,

the amount of climate pollution in Bitcoin has increased.

You have these massive coal plants and massive gas plants

that were hardly being used, that were suddenly repurposed to power Bitcoin mining.

Bitcoin has gotten dirtier over the last two years rather than cleaner.

Sometimes I call it crypto crappo and sometimes I call it, well, crypto...

Now, if you told me you owned

all of the Bitcoin in the world

and you offered it to me for $25,

I wouldn't take it because what would I do with it?

Buffett and Munger, they're old guys.

Old guys have a harder time getting it.

They just do, and they don't need to get it.

Buffett and Munger have been some of the great investors in history.

You don't have to get everything right, you know, they missed Bitcoin.

I don't think finance has ever been more accessible to people than it is today.

I mean, you know, anyone with a pulse can open up a stock trading account.

You know, banks bend over backwards

to help the unbanked get in the door.

To be sure, it's under the stern gaze

of the federal authorities who regulate them.

But I think never in the,

ever have things been quite so accessible.

There's a small handful of very powerful people, institutions,

and countries that benefit

from the way that the monetary system works.

They're not going to give that up.

If I were them, I wouldn't.

Why would I? I would not give that up.

I have an infamous tweet that says

"Hyperinflation is going to change everything,

"and it's coming."

You look at Venezuela, you look at Argentina.

It has changed everything for those people.

And it's happening in more and more countries.

And it's not something that's out of reach.

And we can't be trapped in our bubble of the United States.

Like it'll never happen here.

It could certainly happen here.

Banking has a much more entrenched...

community of both lobbyists,

but of people that have been there, right?

And so it's the devil you know, not the devil you don't know.

And crypto felt really weird to people, and...

everyone gets pissed when other people are making money.

Who are these people?

Got a bodega, this guy's going to take Bitcoin.

- Smoke shops will take it. - Yeah.

Smoke shop's definitely going to take it.

- Eco Green Pharmacy. - Now I would like the wine shop around here to take Bitcoin.

But we got to teach them.

Jonathan Logan,

I'm actually from southeast Queens, born and raised.

I've been a member of the fire service here for just over 20 years,

and that's been a tremendous experience

because I get the opportunity to show up on,

quite frankly, the worst day of everyone's life.

And I get to step in at that moment and help.

It comes with a lot of responsibility,

but it comes with a...

it comes with a desire

to want to change someone's position.

And for me, when I came into Bitcoin,

that was also a... continuum to that.

So, right, right there, we want to take that sign

- and we want to add Bitcoin Boulevard. -Exactly.

We have to be the ones to tell the story.

So, my name is Daniel Modell, and I live in Harlem.

We called the group Harlem Bitcoin.

We had no grand visions of what this would become.

We just wanted to basically be a resource

to help people understand what Bitcoin is.

We were inspired by what we saw happening in other parts of the world.

Local communities get together to try to educate each other,

to try to build this circular economy on Bitcoin.

Bitcoin...

It's not intended for Wall Street guys and day traders

and DeFi guys. That's not what it was.

It's basically intended for a daily consumption

of a person that don't have a bank.

There's people that I see here

in this neighborhood every single day,

people just like me, just normal people

who have worked their whole entire lives and have basically no savings.

I remember being 40 years old and having $200,

and that being my entire life savings

and thinking to myself, what is going on?

You know, what, what's happening? Why?

I think most people in America, maybe worldwide,

but especially in America,

we're pretty much financially illiterate.

I remember this crazy A-ha! moment when I first realized that

really, money is just an abstract idea.

Why do I believe in this one particular system,

and is there any other system?

And is there a way to quantify it

against the system I'm currently in?

And for me, it's become very clear

that, like, Bitcoin is just a better system, period.

Russia invades Ukraine in the capital, helicopter attacks

captured the airports, and Russian troops are reportedly inbound.

Right now, there is a war going on in Ukraine.

Russia has invaded Ukraine and is attacking cities,

including the city where I'm from, Kiev.

War is terrible, obviously, and there's war

all over the world all the time.

But this is the first time that it, kind of,

strikes home for me, because it is my hometown that's being bombed

and people that I know who have family over there,

they're now living in metro stations, trying to survive.

One of the ways that we've discovered to get money on the ground

to people in Ukraine is by sending Bitcoin to Ukrainian exchanges.

There's one called Kuna, for example.

And then from there, you can actually convert that to local currency

and send it out to people's debit cards.

That's really interesting because you can do that

in the middle of the night on a Sunday.

And I think that's really, really important for giving people a way out.

The Ukrainian government

worked with a crypto exchange

to set up a wallet address,

and then people from all over the world

who believe in freedom and democracy sent crypto.

And the Ukrainian government was then able to use that

to buy food, medical supplies, military equipment.

For me, it was the same country that my parents...

where my parents had been hiding so many years ago.

You see, Ukraine, Canada, in the most time of need

you put savings away for a rainy day,

and it's taken away from you.

And that's a big problem.

We saw thousands of truckers in Canada

protesting vaccine mandates that were destroying their livelihoods.

And you saw, sadly, government willing to exercise its jackboot

to stifle the freedom of its citizens.

People began supporting the truckers with Bitcoin.

That freedom is powerful.

148 million Americans don't have $1,000 in savings,

and so half our country is really poor.

And so providing them services that don't cost a fortune,

that they're not scared to use is, I think,

like a social mandate.

Bitcoin is part of the arsenal

of how we're going to have a more just society.

Understanding the legacy effects

of how we got to this point where people are unbanked

is really a important piece of understanding money,

finance, traditional banking, and how all that works.

And so if we want to talk about whether it be redlining

and how certain communities didn't have access to banking and financial services,

then we begin to really understand where Bitcoin is going

and how Bitcoin can really be implemented, right?

Particularly here in the U.S, we've got first world problems.

Our dollar works pretty good, right?

For the most part, for mostly everyone,

but not everyone has, believe it or not,

equal access to finances.

And so all of a sudden in certain communities you have

payday lenders, you have check cashing places,

the Western Unions of the world.

That's a real hardship for people who are getting

a lot chopped off the top of their income.

It is that social justice.

It is that leveling of the playing field.

It is that stating of the goalposts.

Bitcoin won't take away the legacy of the effects of redlining, right?

But what it will do is, give people a starting point

where they can go forward and say, you know what?

You know, I'm good now.

Bitcoin Classic's at the Rucker Park.

Oh yeah, here we go.

See it, he comes up with it, he's running the point.

RL, let's go baby, 34-27.

It's a minute left in the half, RL with the ball.

What you gonna do?

I don't think you can guard, I don't think you can guard me, here we go.

What you gonna do, goes up, look at it.

Throws up. Bucket.

I'm gonna give you some Bitcoin, right?

Don't spend it.

We obviously try to lead people in with basketball.

And then while they're there giving them information on,

like, the basics of Bitcoin and blockchain technology.

It's over the long term there will only ever be 21 million.

And the reason why I love talking to our community is because

usually this information don't get to us until it's too late.

Whoever wins the tournament, we give them a Bitcoin reward,

and there's that one or two people that will say, you know,

I'm just going to save it and give it to my kid.

And just hearing that one or two times, it's like, it's amazing.

It's like, dang, Bitcoin Classic is doing what it was built to do,

you know, is get people in and have them understand the fundamentals of Bitcoin.

- One, two, three. - Ching, ching.

Yes, sir.

We learn math, we learn history, learn all this in school,

but you don't learn about

the power of interest rates and continuous compounding,

and I get this credit card and you know what I mean?

I buy, you know, a nice suit or Chanel handbag,

but then it cost me much more than that in the future to pay it back.

And we don't understand the math behind it.

And I think that's a great disservice to most people,

because they get these tools, they misuse them,

and then they spend years of their life trying to rectify these mistakes.

This isn't something you've had to been in

for ten years to benefit from.

But Bitcoin is not a get rich quick scheme. It's not.

Hopefully before you buy, you learn.

And you should really invest your time in Bitcoin,

and that's the most important thing, is you educate yourself about it, what it is,

how it's different from the current monetary system.

Crypto is really challenging,

there's a lot of misinformation

because there is no center of authority.

There is no Bitcoin entity that dictates what is true or what is false.

There is data,

and then there's the interpretation of the data.

Crypto gets a bad rap for a number of different reasons.

Part of the problem is the industry's fault also.

The industry has to do a better job messaging,

has to do a better job educating lawmakers,

educating the community on this stuff.

There's many people that come into the Bitcoin space

will get a lot of their information

from either mainstream media, newspapers, Twitter,

and typically they're all very toxic environments to learn about Bitcoin.

And so there's the component of like

trying to educate people about what Bitcoin is.

But then there's the experiences that show people what Bitcoin is.

The reality is, kids are growing up only knowing

that they have a cell phone 24/7 connected to the world through the internet.

So, yes, there has to be more education.

Yes, it has to be more approachable.

And I think the most approachable education

is always the education that you can feel.

The only thing I can tell people to do

is recognize what you do have control over.

Raise the value of your human capital.

Invest in yourself. Take education seriously.

Get your kids to think that way.

Get your society to think that way.

Make investments in young people

because they are the future.

I think that a lot of politicians fear

changing their minds on an issue.

But I want to plead to her is that even though the Bitcoin community

has probably come down on her a lot about what she said,

if she were to come around, we would embrace her with open arms.

Like, we are so ready to have such a powerful politician on our team.

Different countries are starting to adopt Bitcoin, and they're prospering,

and here at home, they're starting to lose faith

in their government because things aren't getting done.

Currency is being printed left and right.

These things are happening and people will wise up to it.

You can become your own bank effectively.

We're actually building a non-custodial wallet that I brought with me.

It's just a little thing we're calling a Bitkey.

This can be used by anyone.

This is the wrong finger, it's flashing red.

This is the right finger and it's flashing green.

For me, it's not self-custodial versus custodial,

it's that we have the choice in the first place.

Bitcoin is an opportunity

to reimagine how we want to live.

You bring people closer together

when you cut out the middleman,

and we're able to do it with 21st century technology.

Everyone has a relationship with money,

doesn't necessarily understand it

but now, when you come to Bitcoin,

you go down that rabbit hole,

you're forced to change.

I always say, once you have knowledge, well, what are you going to do with it?

How you gonna change?

This afternoon, I'm laying out my plan to ensure

that the United States will be the crypto capital of the planet

and the Bitcoin superpower of the world, and we'll get it done.

Sometimes I do dream in code.

Josie is a big Bitcoin believer,

her grandpa is a big Bitcoin believer.

I bought Bitcoin at $9,000, $10,000, $11,000,

$15,000, $19,000, $25,000, $30,000,

$35,000, $40,000, $45,000, $55,000, $60,000, $66,000.

I will buy Bitcoin at the all-time high forever

because it's always going to be superior

to the alternative thing.

Oh yeah, okay, you got footage.

I will say, I saw on Twitter

about this thing they called Brooklyn barbecue,

and they had a picture of it and it really was pitiful.

It was like a little piece of meat and a little pickle.