reSee.it - Tweets Saved By @TheBTCTherapist
@TheBTCTherapist - The ₿itcoin Therapist
Motivational music included below 👇🏽 This might be my new orange pill video https://t.co/BD1d4flJKV
Video Transcript AI Summary
Regulators focus on controlling what they can, like exchanges and bank accounts, while restricting access to traditional financial systems. In response, millennials express that they lack money in the conventional sense but possess creative potential and productivity. They can directly sell their skills for Bitcoin, bypassing traditional exchanges. When they need to make purchases, they prefer using digital currency without re-entering the regulated financial system. By shutting down traditional on-ramps and off-ramps, they choose to remain within the digital realm, rejecting the conventional financial system they feel excluded from.
Full Transcript
Speaker 0: What does the insider group do? What do the regulators do in response to a system that cannot be regulated? They regulate the bits they can. They regulate the exchanges. They They regulate the bank accounts.
They regulate the national currency side of things. They shut down the on ramps and off ramps. They say, we will not let you take your money with you. And what do millennials say to that? Dude, I don't have any fucking money.
All I have is my creative potential, my spirit, my productivity. And I can sell that directly for Bitcoin without an exchange, without an on ramp, without an off ramp. And when I need to buy something, I'll use my digital currency directly without reentering your system to which I was never invited. Shut down the on ramps. Shut down the off ramps, and I will stay on board.
I will stay digital. I won't touch your gilded cage anymore because I don't need you. I exit.
@TheBTCTherapist - The ₿itcoin Therapist
Mind blowing response by RFK Jr on what brought #Bitcoin to his attention 🤯 "If the government can punish you by shutting down your bank account without even charging you with a crime, they have the ultimate power to turn us into slaves." The entire world needs to hear this 👇🏽 https://t.co/BFd5Ta6LbW
Video Transcript AI Summary
Bitcoin became significant to the speaker after witnessing the Canadian government shut down truckers' bank accounts using AI facial recognition and surveillance technology. These truckers were peacefully protesting, and their accounts were frozen, leaving them unable to pay for necessities like mortgages, fuel, and food. The speaker realized that transactional freedom is as crucial as freedom of expression. If the government can punish individuals by cutting off their financial resources without charging them with a crime, they possess the power to enslave the population. The speaker warns that any power the government acquires will eventually be exploited to the fullest extent possible.
Full Transcript
Speaker 0: What does Bitcoin actually mean to you? Well, you know, I've told this story before that I'd and now, you you know, I was not really curious about Bitcoin. My kids talked about it all the time. My kids are very entrepreneurial and very curious, and they were, you know, it was cutting edge after them that, you know, this is the future, but I didn't pay any attention into the trucker strike in Ottawa when I saw the Canadian government go in and, and shut down all the truckers' bank accounts. These were people who were never convicted of a crime, never charged with a crime, but they use the the Canadian government used AI facial recognition and surveillance technologies to identify the participants in a protest that was peaceful.
That was like Woodstock. It was, it was, like, you know, they were exercising a right that we all assume that we have, which is the right to petition, to assemble. And they were, their bank accounts were shut and they couldn't pay their mortgages. They couldn't pay their, the gas, the the petroleum for their their the diesel for their trucks. They couldn't leave.
They couldn't buy food for their children. You know? I had a I have a friend who's at one of those truckers who was threatened with with jail because he couldn't pay the court ordered alimony. So, I I recognized at that point that, that transactional freedom was important as freedom of expression because we have freedom of expression. If the government then can punish you by shutting down your bank accounts with even charge you without even charging you with a crime, they have the ultimate power to turn us into slaves.
And, you know, if they shut down your food supply, they throw you out of your home. They starve your children. If you say something they don't like, that's the end. So and every power that government takes, it will you know, the rule is everybody it will ultimately be abused to the maximum extent feasible.
@TheBTCTherapist - The ₿itcoin Therapist
At only $50, John McAfee explains where #Bitcoin value is derived from: User adoption Network effect Cost of mining Exiting fiat “Temporary fluctuations are meaningless” Rest in peace to a Bitcoin legend 🙏🏽 https://t.co/3dZ196Emz1
Video Transcript AI Summary
Bitcoin cannot be considered a bubble because it is not a fiat currency and its value is linked to the number of users and transactions. As more people use Bitcoin, its intrinsic value increases, and the cost of producing a Bitcoin also rises. The temporary price fluctuations caused by speculators do not affect Bitcoin's stability in the long term. Mark Cuban's tweet calling it a bubble had a temporary impact on the price, but Bitcoin has since recovered. The only metric to determine Bitcoin's value is the number of people using it.
Full Transcript
Speaker 0: John, why do you think the word bubble cannot be applied to Bitcoin?
Speaker 1: Well, first and foremost, Bitcoin is not a fiat currency. It costs over $1,000 to create a Bitcoin today in electricity and computing costs. Second, the value of bitcoin is is linked to the number of users and the number of transactions. It is not a speculative investment, even though it is being used as such by many people. As the bitcoin network grows, the value of bitcoin grows.
Cause. As people move into Bitcoin for payments and receipts, they stop using US dollars, euros, Chinese yuan, which in the long term devalues these currencies. So What you're seeing is more of a currency devaluation than a bubble in bitcoin. As more people use it, it has more intrinsic value. And again, the cost producing a bitcoin increases with the value of the bitcoin.
So this is not something that we're pulling out of thin air. Mhmm. This is something that's created with massive amounts of electricity and computing power.
Speaker 0: Well, someone who disagrees with you on the term of bubble when it comes to Bitcoin is Mark Cuban. Back in June, he tweeted, I think it's a bubble. I just don't know when or how much it corrects. When everyone is bragging about how easy they're making money, That equals a bubble. Now when he tweeted that, Bitcoin dipped in price.
How can 1 person's random Twitter thread have that effect on the price, and what does it say about Bitcoin stability.
Speaker 1: Well, it says nothing about bitcoin stability. After it dropped $500, it's now worth 44. Mhmm. So These temporary fluctuations are meaningless, are created by speculators, people who do not understand the fundamental technology of the blockchain. Those who do know that in the long term, these fluctuations will make no difference.
The more people who use Bitcoin, the more valuable it will become. This is the only metric we can use.