American HODL is one of the most remarkable and prominent sat stackers in the Bitcoin space. As a successful professional who makes enough USD to afford investments, he often maxes out his CashApp BTC purchase limit. On average, he buys about 1 million satoshis per day and then brags about increasing the scarcity by HODLing.
In this episode, he talks about first getting into Bitcoin, the true meaning behind the 6.15 BTC, and why one should seek to accumulate as many satoshis as possible. The recording must be the most adult-oriented of all Bitcoin Takeover episodes, so make sure that no kids are in the room while American HODL talks about eternal riches and big titty bitches.
The American HODLer (no pun intended) also does a lengthy Q&A with Twitter inquiries and spontaneously decides to stack 3 million satoshis just for fun.
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Starting this season, 25% of all donations will go to the Free Ross campaign, to help Ross Ulbricht get a second chance. The draconian sentence that he received should concern every bitcoiner around the world, as the government which poses as a champion of liberty gives a double life sentence for indirect and non-violent crimes involving Bitcoin.
It’s a slippery slope that should concern us all, regardless of the jurisdiction under which we find ourselves. The case of Ross Ulbricht has set a dangerous precedent all around the world, as lesser democratic countries can simply prosecute bitcoiners under similar charges and with outcomes that are just as harsh.
If Ross was to receive clemency or at least a second trial with another judge by taking into account the new evidence, the decision would get noticed by judges and politicians worldwide. Whether we like it or not, the USA is an example for the rest of the world and we can actually try to make a difference in a positive sense.
As usual, 50% of BTC earnings will be sent to the guest. In this situation, Colin will be rewarded for his time, effort, and knowledge.
You can donate on the main chain at the address below, via Lightning on Tippin.me, and you can send $1 of your dirty and criminal fiat on Patreon.
Vlad Costea (00:00:47):
Hello and welcome to the Bitcoin takeover podcast. I am Vlad, and my guest today is American HODL who used to be known as American HODL for, but got banned on Twitter. And now he’s HODL American. You can follow him for, I guess, five more days until he gets banned once again and comes back with some other accounts. And this episode is sponsored by my friend who has this business with audio consulting for podcast. The name of the business is ADL. It’s a new audio consulting firm that accepts Bitcoin and they offer a full range of services like editing, audio restoration, troubleshooting, recording, and consulting, and you can visit their website, which is A U D L audio.com with no dash. So A U D L A U D I O.com or more information. And he also has an email contact at contact at audl dot com who works in Los Angeles with some big time musicians.
Vlad Costea (00:01:56):
But if she wants to move full time to producing Bitcoin podcasts, if you want race down for your podcast, you should totally call Hodl, which sounds like a cold name. So hello, American HODL. It’s nice to hear you after this adult commercial. Vlad it’s a, it’s great to be on the bike. We’ve been trying to set this up for a long time and then we were supposed to do it yesterday. And I got, I got banned again for the fifth time. Fourth time. I don’t know. I can’t, I can’t keep track. I know. I mean, I was looking for you and then I saw that there’s no chat record on Twitter. And I said two minutes, what’s wrong. Because I remember we spoke the day before that, the time for the podcast, the reason I keep getting kicked out, people keep asking me, they’re like, what do you keep doing? And get kicked off Twitter. And it’s because I have oppositional defiant disorder, which just means I can’t
American HODL (00:03:00):
Accept authority. So I know that there’s Twitter has rules and you know, these rules are very leftist and left-leaning. So if I just keep using language that they feel is, you know, homophobic or transphobic or racist, then I’ll just keep getting suspended. And it’s not that I am any of those things. Like I’m not, I’m not homophobic. I’m not transphobic. I’m not racist, but I just hate, I hate rules and authority. So I can’t help myself when I know there’s a system in place. I just want to keep poking and prodding the system until I break it. And that’s what continues to happen to me.
Vlad Costea (00:03:39):
I guess that’s why we all got into Bitcoin, right?
American HODL (00:03:42):
Oh, a hundred percent. Yeah.
Vlad Costea (00:03:45):
Whatever political system we are a part of,
American HODL (00:03:49):
I think Bitcoiners in general are the type of kids in the back of the class who are like, Hey, that doesn’t make any fucking sense. Like, I’m sure we were all disruptive types like that. I know I was growing up. And I think it’s important to hold on to that, you know, sort of fuck you attitude for lack of a better word, because when you’re, when you’re young, when you’re in kindergarten or, you know, I don’t know what they call it in Romania, but when you’re, when you’re little and you go to school and they tell you to draw a picture of a, like, let’s say a bear and you draw your own version of a bear, they give you an app and they say, that’s not what a bear looks like. Right? And so it’s the kids that say, no, this, this is my version of a bear. And they, they maintain their fuck you attitude who actually keep hold of their creativity. And that ability to question things is I think it’s, I think it’s very important and we should be instilling it in children instead of going in the opposite direction, which we often do.
Vlad Costea (00:04:53):
I agree, I guess the most important kind of education is that of learning how to think and how to question whatever you’re learning, as opposed to accepting everything that you’ll learn as being valid, because it comes from some sort of authority.
American HODL (00:05:12):
Yeah, very much so. And I, you know, that’s obviously the big why at the center of a Bitcoin is none of it. I think none of us had ever really thought about money very in depth. And then Bitcoin comes along and you’re like, Oh shit, none of this makes any sense. And then you go deeper and deeper and deeper. And you find out that the rabbit hole is, is basically endless. And you know, that’s where the journey started for me, at least I’m, I’m sure it was similar for you.
Vlad Costea (00:05:42):
I have a background in political science.
American HODL (00:05:46):
Oh, so you, yeah. You probably knew more than I did.
Vlad Costea (00:05:50):
Yeah. But I didn’t see much behind the curtain. So it all seemed technical and that make sense, and
Vlad Costea (00:05:58):
This very scientific framework, which they designed to analyze politics. But I guess also the presidency of Donald Trump has helped just take away the curtains and realize that it’s all a shit show and it’s not become a shit show. It’s just more obvious now than it was before.
American HODL (00:06:20):
Right. So when the, you know, the central bank types are just like Donald Trump, because they’re just making it up as they go, at least with Trump, he’s so stupid. He can’t hide it. You know, these guys that are smart, they hide it very well. And you, you kind of, you know, you listen to them when you don’t know what very much yourself and you think. Well, okay, obviously these men are very smart and very well studied and there must be some, some great reasoning behind all these negative interest rates and all this continuous printing of money and raising the debt ceiling. And then you find out now they’re just winging it. Just like Donald Trump is,
Vlad Costea (00:06:59):
Oh, I remember something which I read from Vitel with Darren said that the purpose of 2% annual inflation is also psychological. So employees get the impression that they get a raise every year and they get better. They work, which is done. Yep.
American HODL (00:07:21):
Oh yeah. Oh yeah. But you know, it has a reverse effect that nobody ever talks about, which is sticker shock. You know, Keynesianism is so good for the economy. How come people spend less and less money as they age it’s because prices keep going up. And your point of reference shifts. So the car that costs $6,000 when you were a child now costs $60,000 and that affects consumer behavior. So when you’re, you know, when you get to be elderly, like beyond 50, you stop spending as much money.
Vlad Costea (00:07:55):
I never taught about this, but it makes so much sense. That’s why my mother, when I talked to her, he has a different reference and a different way of understanding money. And whenever I tell her, Hey, look, my, my buddy’s sneakers. And she’s going to be like, how much did they cost? And I basically evaluate the cost in reasonable terms for her. And usually it’s twice as low, twice as cheap meaning.
American HODL (00:08:26):
No, totally. I think, I think the world is always just in a fight between top-down architecture of systems and emergent phenomena. Nobody, you know? Yes, yes. The Toshi coded Bitcoin and invented Bitcoin, but what’s happening after that initial zero to one moment that innovation is all an emergent phenomenon, bubbling upwards. Whereas people like the, who think they’re smarter than everybody else think that they can architect a system that will basically be perfect and have no problems. And, you know, I think I’m smarter than everybody too, but you know, I’m humble enough to know that I’m not, I get it wrong often. And these, these types of people like the central bankers are like the Pollock or like, you know, any of the other shit pointers. They, they basically think that they’re going to be able to prevent black swans and you can’t prevent black swans because that’s an unknown, unknown. Right? You don’t know what you don’t know. Now we have unknown unknowns in Bitcoin too. But in my view, they’re mainly positive things that are going to emerge upwards and not negative things that are going to come crashing down on the system.
Vlad Costea (00:09:47):
I like that NASA tele reference.
American HODL (00:09:50):
Right. I love, I love to laugh. I think he’s a, to love is one of our best Bitcoiners that not a lot of people bring up.
Vlad Costea (00:10:02):
I’m not sure. Did he endorse Bitcoin?
American HODL (00:10:05):
Oh yeah. Yeah. He wrote the forward for a Safe’s book.
Vlad Costea (00:10:09):
Okay. I feel embarrassed for not knowing this.
American HODL (00:10:13):
Yeah. Look, look, just go on Twitter and type into lab Bitcoin. And there’s a bunch, there’s a bunch of stuff he said about it before. And he made a lot, I think he made a lot of money off of it in 17, who hasn’t right. Well to lab is super rich you know, and, and incredibly smart. And he’s a disagreeable asshole, just like all the rest of us. So he fits in perfectly with the big pointers. You know,
Vlad Costea (00:10:40):
Also about what you’re saying about, you know, these types of people who think they have it all figured out and they’re going to convince the rest of the world that they’re smart. So they should be followed. I read something which was written by Nick Sabo just today. I think it was retweeted by Donald MacIntyre, who is a business associate of his. And it basically said that scientists and science in general are part of the government. Generally you have these people who get funded by government funds and grants and research project. And it’s hard for them to think outside this framework, they’re being taught from the very first years of their education about what is wrong and what is right. And that when they become researchers and they try to apply some kind of methodology to whatever questions they’re asking, they basically just reaffirm what they have been taught. And they don’t take much time being Socratic in the sense that they ask questions and they try to be contrarian. They reaffirm whatever scientific biases are being fed to them.
American HODL (00:12:00):
Yeah. Sciences. Yes. I agree with that statement and that sentiment. And also there’s a very natural inclination in the sciences, even when you don’t have government are interference or regulation to not champion the ideas of fellow scientists while they’re alive. So let’s say you, you started your you know, your work and your career, and you started researching into, you know, this area and it got more narrow as you went along. And then somebody else who did the inverse of what you did it, you started to get the growing sense that they were right. Right. You can’t exactly champion their idea because it makes you look weak and it makes you look stupid. And this is a human fallibility thing. Whereas when a, another scientist has died, you can now bring their ideas to the forefront because they basically, they don’t get the credit and you get all the credit for championing that idea. And that’s just a very human thing that we see repeated over time. So science is a very slow process, just like, you know, just like Bitcoin is because it’s an emergent phenomenon. All emergent phenomena are going to be slow and you can make it even slower with government regulation, which is basically what they’ve done.
Vlad Costea (00:13:16):
I guess, according to the article that we need some kind of separation between state and science,
American HODL (00:13:24):
Don’t you think we needed a separation of state and everything possibly.
Vlad Costea (00:13:31):
I agree with private armies and some other concepts, but I mean, I don’t think everything should be private. I’m okay with some kind of neutral place that is hypothetically not parties and to the interests of a small group of citizens, even though they might need,
American HODL (00:13:51):
I think what we have to ask ourselves, as we know, the government is always going to grow and it’s always going to centralize and it’s always going to be a centralizing force. Right. And I struggle with it just like you do, like, you know, especially because we were just talking about how the scientists are brought up in their own dogmatic reality where they can’t see what’s around them. Well, we’re just like that because we’ve never lived in a world without government intervention or interference. So we can’t really fully conceptualize of a world that would exist without it, especially because the time that we live in is the time where the global state is bigger than it has ever been in the history of humanity. Nobody’s ever seen a behemoth quite like this. So I think it’s very hard for us to conceptualize. So I like that. I like to try and not say definitively that the government is good at this, or is bad at that. Although they seem to be terrible at everything.
American HODL (00:14:48):
But I think, I think knowing that you’re inside a dogma is very important. You know, it’s like, it’s very hard to talk to your friends who are no corners because they’re still in the matrix. Right. And you’ve taken the red pill and you’ve seen for yourself, you know, and you went through the hero’s journey where you had to, all your muscles were atrophied. You know, you woke up on the Nebuchadnezzar and Morpheus was staring you in the face being like, Oh shit, it’s real now. Right. You know, they haven’t gone through any of that journey. So you go back into the matrix because somebody who’s quote unquote woke and you try and tell them what it is, but nobody can be told what the matrix is. You have to see it for yourself. And so figuring out how to get people to go on that hero’s journey when most people just don’t want to take any responsibility for their own life. God, that’s such a hard question that I ask myself all the time and I never come up with good answers.
Vlad Costea (00:15:46):
So, so far we have had a Joseph Campbell reference. And before that NASA Taleb reference, and now we’re talking about the matrix and we are supposed to have some kind of debate about the matrix, right?
American HODL (00:16:02):
Oh, that’s right. Because me and you were arguing on Twitter about whether agent Smith or what, whether a Neo was needed at the end of the matrix to reset the system. And my, my point, my contention was that Smith had already taken over the matrix in revolutions and he’s the entire matrix. And Neo goes to the machine city and he bargains with the machines because he knows that he’s the opposite piece of Smith. And he’s the only one that can stop it. So he basically Neo hard resets the system. But it’s like, they’re joined, you know, so I don’t know if you can say that Smith or Neo does it, but without Neo’s interference, the system would not have reset.
Vlad Costea (00:16:49):
I don’t know about that. I mean, the matrix at the time when Smith had taken over was just his new system, which was being reset by default because he was everything. So he was building a different society. And when Neil Rosette said, we’re not sure if agent’s med is completely gone, or if he just lost part of his power and he’s going to attempt to retake it, reclaim it. What we know is that the architect has been watching all along and we’re not sure if agents may have taken over him, but he took over the Oracle, which we saw.
American HODL (00:17:31):
Right. It’s very confusing. This is why the first matrix is the best matrix. And the other matrix is our, you know, just okay.
Vlad Costea (00:17:46):
I mean, they also have these scenes with the fights and
Vlad Costea (00:17:50):
What’s the name of their city, Zion
American HODL (00:17:53):
Vlad Costea (00:17:55):
And they fight with the robots and it’s paced very strangely and conveniently. Like it’s a lot more cheesy than other matrix films,
American HODL (00:18:05):
Right? Yeah. The first, Oh man, the first matrix is just, it’s one of the best pieces of art. It’s probably the best film of the last 30 years bar. None. I can’t think of any that are better.
Vlad Costea (00:18:20):
It’s very well made. And not just in terms of cinematography, it’s just telling the story of Plato’s cave, but in a way that’s relatable to people who are into technology and this idea of virtual reality and living inside the dream. I mean, inception also did a great job of portraying this kind of universe.
American HODL (00:18:46):
I like inception. I like inception too. Not as much as I like the prestige or the dark Knight or some of Nolan’s better films in my opinion. But I agree. I agree.
Vlad Costea (00:18:59):
Very challenging, but interesting because we get to speak about so many topics and we seem to have the same cultural references.
American HODL (00:19:09):
Well, that’s the, that’s the interesting thing is like, I think because of the internet, the reason that we can all align is cause we kind of grew up with similar cultures. You know, at least at least pop culture was very similar, I think for all of us. Cause you know, a lot of it is American. I’m assuming you saw a lot of American movies when you were a kid all the time. Right. Because they’re the best movers. They’re the biggest, yeah. The biggest and the best. And they have the biggest budgets and the most money, you know, it’s, it’s interesting though, but it’s interesting too, because you know, you’re in Romania a place I’ve never been. I have no cultural understanding about, I literally, I literally don’t know anything about Romania and me and you have a lot of shared interest and shared touchpoints that we can connect on, which is just fascinating.
American HODL (00:20:01):
You know, in so many different ways. I mean, when we were kids, right. You know, you’re, you’re me and you’re on the same edge. So we’re still of that generation where we got to see the internet be born. And I probably remember it a little more than you do, but it was pretty crazy to grow up in the analog world and then see the transition to the digital world. And I, I almost feel like we’re keepers of the flame in a sort of way where you have read that book, the giver, you know, that book in, in the giver, you know, basically society, you know, takes away all their bad memories and they transfer it to one person and that’s, that’s the kid and they, they pick a kid and then they give the kid the cultural memory of the world’s you sort of terrible things that have happened. They made it into a really shitty movie. It’s not very good, but the book is good. And I S I sort of feel like we are that generation where we have the memory of how things used to be. Cause when you talk to young kids, you know, who are like 1920, I saw your, I saw you, you were saying, you were talking to talking to younger girls and you couldn’t understand them.
Vlad Costea (00:21:12):
All sorts of
American HODL (00:21:16):
This is why I’m glad I’m married. Cause when I talked to them, I’m just like, Hey, when are you going to shut the fuck up? Because now would be a great time.
Vlad Costea (00:21:27):
I wish I found the right girl, but I haven’t so far powers. Men are much dumber in this sense. So when we get a girlfriend, we’re like, Oh, this is okay. I can imagine myself marrying this woman, but something goes wrong along the way.
American HODL (00:21:45):
Yeah. It’s sort of, you know, for guys it’s more like a for girls, I think it’s more the person. And for guys, I think it’s more of the time in your life. So you may be getting to the time in your life where you’re like, you know, ready to settle down, be with a girl or, you know, I don’t know.
Vlad Costea (00:22:06):
I don’t know either, but I wanted to say that Bitcoin in my view is only a digital currency because it had to be in order for it to not be confiscated. But the idea I feel I get has grown and has been around for a long time. I guess 16th century really wanted to have Bitcoin because they would find gold and treasurers and britches and big titty bitches. They had no way to go back to their countries and spend it, but are getting arrested. So they had to sail at sea. They had to bury their treasures. They had to go to America. And that’s why some cities on the East coast of the United States are still developed because they basically benefited from the goal of pirates.
American HODL (00:23:01):
Yep. No. Yeah, totally. I mean, in a lot of ways, I think we’ve been living through this hundred year period from like the early 19 hundreds to the early two thousands, a centralization that was very unnatural in, in the historical framework that we’re used to, you know, you look at things like having the, having the news media be controlled or having the state be heavily controlled or having money be controlled by the state. These are all very new, recent, strange developments that didn’t occur in the vast, you know, time span of human history. So I think in some ways, while what we’re doing is very new and revolutionary, but in some ways we’re just going back to the
American HODL (00:23:46):
Past. And it’s, it’s sort of interesting to think about
Vlad Costea (00:23:51):
Also Bitcoiners seem to like the analog world a bunch more, even though we transact where the kind of currency that no is perceive as being new technology, which is digital and it’s not tangible, it’s hard for them to perceive how it works and to understand what a full note is and why we use it. But basically we are using digital gold in our minds. We use something that cannot be confiscated and cannot be censored. And that’s the whole value proposition of Bitcoin as opposed to salary payments.
American HODL (00:24:29):
I can’t remember if this is a real a real story from history or if this is just a construct of, I think it was Milton Friedman, but somebody had the idea, I think it was Friedman, but basically there’s an Island and on the Island or a series of very large boulders that can’t be moved and every day ownership of those boulders changes and all the participants of the Island note the chain. And that’s basically, that’s what Bitcoin is just in digital form. Okay. Cause if you think about it, your, your Bitcoin doesn’t move, you know, your Bitcoin is just always on the network and the cloud and your key is your, your accessibility to that, to that Bitcoin. Right? Right. So like in a way, these are, these are just giant stones in the sky and the ledger is noting the change of ownership of these stones, but the stones themselves never move.
Vlad Costea (00:25:34):
That’s a good metaphor to understand it.
American HODL (00:25:37):
Right. I think it was, I think it comes from a Milton Friedman book. Although I can’t remember
Vlad Costea (00:25:44):
Sometimes I like to think that Bitcoin as a currency needs the existence of cash as a way of at least until hyper Bitcoin sensation, you need to do this kind of quick swap that doesn’t get recorded in any bank ledger. You just go exchange Bitcoins for cash. That’s it, it’s the most private form of payments ever.
American HODL (00:26:09):
Yeah. It’s interesting. Do you ever, have you ever thought much about the symbiotic relationship between Fiat currency and Bitcoin
Vlad Costea (00:26:18):
In which sense symbiotic?
American HODL (00:26:20):
Well, I’m seeing a lot of senses. Like it almost feels like we are a parasite on the global network of, of beyond the legacy systems. Right. And that we’re just soaking up their blood supply until at some point they’re going to ride on the back of us once we become large enough. And there’s gotta some sort of a weird
American HODL (00:26:44):
Transitionary period there, this isn’t an idea I’ve really fleshed out very far, but you know, there’s obviously Bitcoin wouldn’t exist without a Fiat monetary system, right. We’d just be still on gold and then we’d have some digital form of gold probably, or, you know, we’d have the Outback gold and then a digital form of feedback gold. So we needed the system to be this fucked up, to get the invention that is Bitcoin. And so from the very inception, I think there’s a sort of symbiosis there.
Vlad Costea (00:27:16):
I agree with this. And I know that Saifedean is touring with a new presentation, which is called how to kill Bitcoin or something like that. And it basically the best way to kill Bitcoin and make it basically pointless would be to return to the gold standard, which is never going to happen.
American HODL (00:27:38):
Yeah. And you know, I think Bitcoiners would reject a gold standard because we know about the problems that the gold has. And we know about the history of the centralization of gold. And we are going to assume that that’s going to happen again. Whereas we don’t know, we don’t know what happens next for big. And you know, this is where people like to come in and say, well, it’s going to get centralized because of this or that. And we just don’t know, we haven’t gone through this process yet with Bitcoin, we’ve been through it with gold for 5,000 years and it continually gets recentralized.
Vlad Costea (00:28:14):
There has been so much speculation with Bitcoin getting more centralized and back in 2014, 2015, Gavin Andresen was bragging about it by saying, Oh, I’m going to make Bitcoin more centralized. And that hasn’t happened because the community basically understood what Bitcoin stands for. And no kind of benevolent dictator was able to maneuver the direction Bitcoin headed.
American HODL (00:28:45):
I don’t, I don’t think we should ever let Gavin forget the fact that he was fooled by Craig Wright in front of the world in the most embarrassing way possible. I mean, if anybody ever takes him seriously after that little stunt with the BBC ever again it’s it’s to their own detriment.
Vlad Costea (00:29:04):
I think there’s more to it than that because if Craig Wright wanted to prove the ownership of the coins, he could just sign a message on the Genesis block and then could take a look at it. But Devin actually went to London and was fooled by a laptop, which was zoned by Craig Wright. And he was able to forge whatever evidence that he showed. So what’s the point of traveling to meet somebody and then a test and confirm that he said, Toshi, if this is not part of some kind of setup or conspiracy,
American HODL (00:29:42):
Well, I think, I don’t know that that reads a little too much into it for me. I think that Gavin was just incredibly out of his depth and that he also didn’t really fully understand what Bitcoin was, which to be fair to Gavin, none of us did at the time, because like I said, it’s an emergent phenomenon, so we didn’t quite know what it was going to be. I mean, I fell for a lot of the same false narratives that I’m sure you fell for. And we all fell for, which is like, Oh, it’s a payment system. It’s for remittances, it’s spend to replace we’re banking, the unbanked, you know, all that kind of stuff. While we do help the unbanked and we give poor people a place to store their time. I don’t think Bitcoiners have really thought very hard about the last mile. You know, me and you were just talking about local Bitcoins before the show like that last mile of like going to, you know, actually exchange the Bitcoin into Fiat is that’s the whole thing. That’s the hard part. Everything else is easy, right? So it’s like a lot of these false narratives propagated. And I think Gavin, Gavin fell for a lot of them and a lot of people did and they spun up all coins, all sorts of crazy shit. And we’re still dealing with some of the consequences from some of those false narratives,
Vlad Costea (00:30:56):
I guess also in the case of Gavin, you have to think and consider the fact that he wants to talk to the CIA,
American HODL (00:31:03):
Right. Which is when Satoshi leaves the project
Vlad Costea (00:31:08):
And all of his attempts were to increase the block size. That was the whole point. And to some extent, Bitcoin core supporters claimed that the plan was all along to increase the block size. And then they changed their opinion because they realize that we can live with one megabyte blocks and basically soft fork and improve the network to the, maybe the extent where transactions are smaller. So instead of making blocks bigger, why not bet more transactions into them, which is smart and conservative and elegant.
American HODL (00:31:52):
Yeah. I think, I think a lot of the big blockers are just, are just stupid. I just don’t think they understand the issue. You know,
Vlad Costea (00:32:03):
Of course they don’t because they’re going to, why do you need to verify each and every transaction on the network? Why do transactions no, they’re private or what the hell are you talking about? It’s a public ledger,
American HODL (00:32:17):
Right? Like it’s like, it’s like Roger bear. Like I don’t think Roger is a very smart guy. You know, I don’t think he has a very high IQ. I think he’s an average guy. I’m not going to call him a dumb guy, but I think he just fully misunderstands what’s happening. And you know, he also has a insane, like he’s literally insane. She has an insane ideological bent that leads him to believe that you need to get to medium of exchange before you get the store value, which doesn’t make any fucking sense. But you know, back in the day, we all had to go through these thought processes alone and on our own and figure them out for ourselves. And some people came to false conclusions. And, you know, in the case of like, let’s say, Roger, he totally destroyed his entire reputation, which I think he feels really sad about.
American HODL (00:33:04):
And he should probably feel sad because he had a lot of status in the Bitcoin community. I mean, people call them, people call them Bitcoin Jesus for anybody who doesn’t know back in the day on our big or make the big Roger worry about Bitcoin. And he didn’t sleep or eat for three days. And he was reborn as a, as a big winner. And people started calling him Bitcoin Jesus, and it was super cringy and I hated it every time it was sad. And we used the, you know, I think in general, even though we were also hardcore disagreeable, we probably had, we probably give too much leeway to people that are quote unquote in our camp or in our ingroup. And I know that I would root on Roger back in the day because he seemed like he was one of us. And then when the civil war happens, you know, it all falls apart, but we’re all mildly culpable for what was going on back then. I’m not saying we should let Roger back in either fuck him forever. But Gavin, through all of them,
Vlad Costea (00:34:08):
I think Roger is very smart actually. And he knows he’s doing, and he’s very persuasive and she’s like a snake trying to project some kind of image and promote a brand in which he doesn’t really believe in because in mine and she holds a big stash of Bitcoins and he owns BitPay, which basically is a payments processor, which accepts BTC. He never gave up on it. He just did grace alternate. She tried to make bigger than the real Bitcoin, which he failed, but he still made a lot of money.
American HODL (00:34:50):
Well, and I guess from a rational actor standpoint, it makes sense to hold a one currency, you know, to hold Bitcoin while also trying to destroy Bitcoin with something that you can gain more control of. But reputationally, it’s not good to do that. And he’s obviously been dealing with the fallout from it since it happened. You know, I, I don’t agree with you that he’s smart. I think when I, when I say somebody is smart, that’s a pretty high bar. And I mean, people like Adam Back and Nick Szabo or Brian Bishop you know, Luke Dashjr, Peter Todd, I mean, those guys are, they’re like almost geniuses. All of them.
Vlad Costea (00:35:35):
I don’t disagree with list of brilliant
Vlad Costea (00:35:38):
People, but I disagree with Roger being dumb.
American HODL (00:35:43):
I don’t think he’s dumb. Dumb is the wrong I’m being hyperbolic. I think he’s average intelligence. I would, I would put his IQ at a hundred or 105, which is that’s an insult in the Bitcoin community. No, I’m kidding. I think that, you know, it’s, it’s obviously people are going to take offense to it, but I think Bitcoiners just tend to be a lot smarter on average than chick corners and no corners, you know, that’s fair. I mean, I always have conversations with, you know, low level Bitcoiners, you know, the plebes as they call themselves and behind the scenes, all of them are really highly intelligent, distinguished you know, working on a lot of them are working on wall street. It’s pretty crazy
Vlad Costea (00:36:33):
As we got to talk. So a few of them, and I was surprised what I found, because when you think about plebs or plebes, it’s just a derogatory term, which basically says we are the ones who don’t really matter. And we’re part of the crowd and don’t do much interesting in this space, but they have very interesting backgrounds. And this whole third season has been about just random people on Twitter wanted to get on the podcast. And I said, yeah, why not? What can possibly go wrong? I don’t think I have been disappointed once. And there were people I have met for the first time. So we just spoke for 10 minutes and I said, okay, let’s do a podcast where the hell, what can go wrong?
American HODL (00:37:17):
Yeah. I think the, I think the Bitcoin plebe thing is a reaction to to 2017 and the shitcoin rate. And it’s sort of a, it’s a humbleness, you know, it’s saying I’m nobody, I don’t matter. I’m just here to help Bitcoin in any way I can. And I, you know, there’s also an anger that goes along with some of the Bitcoin plebe stuff, because you know, a lot of them were straight up, lied to back during the all coin run and they believed a lot of those lies and they’re rightfully angry about it because a lot of them got dumped on by people like can talk Buterin or a Joseph Lubin or Justin sun Tron, or any of the number of shit corners who popped up at that time.
Vlad Costea (00:38:02):
I think one of the best examples is XRP the standard, but at some point had a huge army of supporters, which I’m not sure was organic. It might have been paid, but it doesn’t matter. You could not type anything bad about XRP without having them comment on your stuff and possibly having your accounts reported.
American HODL (00:38:29):
Yeah, it was, it was, I, you know, I spent, and maybe I’m dumb too, because I spent a lot of 2017 trying to educate those
American HODL (00:38:36):
People. And, you know, cause there was something that happened like you’re right. A lot of them were bots. A lot of them are robots, but a lot of them were stupid. People who were following the robots and these stupid people had very normal jobs like landscaper and mechanic. And I don’t like seeing, I don’t like seeing them get taken advantage of at the same time I would try and educate them and they would tell me to fuck myself, you know, fuck them. I hope they lose their money and have to go back to working at the mechanic shop. Cause I’m not, I’m not going to do it again. This bubble, it’s not going to happen.
Vlad Costea (00:39:15):
No. Back in December, 2017, I lost about 800 bucks sorting XRP. And I basically shorted it when it got close to $1. And I said to myself, there’s no way this can get any higher than this. I’m going to short it. And it went to free dollars. And I got wrecked.
American HODL (00:39:35):
I had a, I had a group of man, I had a group of people in a Facebook, a Facebook group when it was at $3 telling me it was going to go to a hundred dollars. And I was trying to explain how that’s impossible. And literally none of them would listen. And then they kicked me out of their little Facebook group.
Vlad Costea (00:39:58):
Of course, they’re going to say, Oh, it happened to Bitcoin, but they don’t know how this works. They don’t look at the market cap. They don’t look at the supply, which is immense. I have no idea how it went to $1 in the first place,
American HODL (00:40:14):
Nuts. It’s crazy. And you know, it’s also, I also kind of am glad they all got racked because what they basically chose to do was bet against Bitcoin because you know, XRP, his whole thing is like, we’re, we’re a bank coin. We, we work with the banks. We want everything to stay the same. And they all chose to buy into that future because they thought Bitcoin was going to get crushed. So fuck that, you know, I’m, I’m, you know, I take it back. I’m glad they lost their money and I hope they live more.
Vlad Costea (00:40:48):
Yeah. Unfortunately XRP is going to be around for a long time and it’s one of the oldest stout coins out there.
American HODL (00:40:55):
Right. You know, it predates Bitcoin. In fact, I think the tech does
Vlad Costea (00:41:01):
You mean ripple ripple, but not
American HODL (00:41:03):
Ripple. Yeah. Ripple was repurposed by XRP after or however, I don’t know how it works. I don’t, I don’t pay attention to it cause it’s a very obvious scheme where the corporation dumps on mechanics and landscapers. And I don’t know how they haven’t been shut down by the U S government. It’s crazy.
Vlad Costea (00:41:24):
I guess they just have too much money and yeah, persuade politicians. And it’s very strange in the United States because you have
Vlad Costea (00:41:34):
Elected officials who are basically slaves of whoever donates to their campaigns. And if they pick up a call from somebody who gave them a lot of money and basically put them into office, there’s no way for them to say no. And that can be the moment when they take a U-turn and they change their stances on various issues just because that’s what the money tells them to do.
American HODL (00:42:01):
Yep. Yeah. It’s, it’s sort of pathetic what has happened to America. And I think we’re seeing the end of America now the American empire, which you could argue is a, is a good for the global world. Although it’s going to create a path. If it ends too abruptly, it’s going to create a power vacuum. That’s going to be filled by an even worse actor by China or Russia. So I think the best we can hope for is the slow unwinding and the American experiment.
Vlad Costea (00:42:31):
I’m not sure if you know, but probably not. But the Romanian president met with Donald Trump last week.
American HODL (00:42:39):
I’m sorry, Mike, I’m sorry. On behalf of my people, Donald Trump’s favorites. Yeah.
Vlad Costea (00:42:45):
Because whatever he says, our president is going to be like, Oh yeah, sir, we’re going to do that. When Trump was saying, I want every member, state of the NATO to donate 1% of their GDP or their defense, our president was the first to sign the agreement and say, yeah, we’re going to do that. And there are such good friends because basically our president is this kind of dummy guy. He’s a yes, man, in relation to the United States, he does whatever Trump says and what they said. They made an agreement and Romania agreed to give more money to the U S military. And it’s not specifically us it’s NATO, but we know how that works. Right. And United States promise to be, to show solidarity to the struggles, to get visas for traveling and for work, which means nothing. It’s like, yeah, we understand that you have some issues when you get visa to come to our country, but we’re going to do something at some points. We’re not going to tell you what, we’re not going to tell you when, but we are solidary. So take it as a compliment.
American HODL (00:44:05):
Well, you know, the whole, the whole world is in solidarity with us, whether they want to be or not, right, because we’re the global reserve currency. And we dictate everything that happens in global affairs, unfortunately, which is pretty, it’s pretty crazy that you have one large actor, who’s basically a shadow empire dictating everything that around the globe. You want to talk about, you know, sort of strangling global trade, prosperity innovation, the American empire does all those things. That’s why, that’s why Bitcoiners are so focused on the federal reserve, you know, and yeah, there are Europe has their own and you know, there are other central banks across the world, but the federal reserve is the big boss for Bitcoin. That’s who we have to take down before. We’re going to see any, anything get better, I think,
Vlad Costea (00:45:05):
Right? Let me ask you some questions from the audience, because I announced on August the 18th, that we would have this podcast and it’s been 12 days since then, beautiful Colin Harper who has been in the podcast and the previous episode, and also works for Bitcoin magazine, wants to know why you chose the American godick as your profile picture.
American HODL (00:45:32):
So American Gothic is a very famous painting. It’s, it’s worldwide famous. And it’s from it’s up to farmers in the American Midwest. And the story on the painter who painted it, forget how I forgot his name, but he basically traveled the world in search of interesting things to paint and then came home and found beauty in the ordinary, in these people who just lived this humble life and farm America’s farmlands. And I liked it for the idea of just huddling is a very humble act. You know, even though I, myself may not be a humble person and on Twitter, I am very like braggadocious. And you know, I’m always saying crazy shit. Huddling itself is humble by its very nature.
Vlad Costea (00:46:25):
I guess that’s part of stacking SATs,
American HODL (00:46:28):
Right? Stay humble stack sites.
Vlad Costea (00:46:31):
It was either Moto Del or HODL or not.
American HODL (00:46:35):
Right. Matt. I think that one’s Matt O’Dell. Yeah.
Vlad Costea (00:46:41):
Also Fartface 2000. Once he is the second or the first recipient of hotline not starch. And he became famous back then. And right now he works on bit piggies, which is very interesting, but she wants to know your story because he says he’s a sucker for a good story.
American HODL (00:47:04):
Just my whole story or my Bitcoin story. What do you think I should tell?
Vlad Costea (00:47:09):
I don’t know. As long as it doesn’t matter,
American HODL (00:47:14):
Let me think my story.
Vlad Costea (00:47:16):
I mean, you can make something up. Just make a good story.
American HODL (00:47:21):
Well, it’s odd. I can tell the gambling story that I told on another podcast, but we want something you
Vlad Costea (00:47:30):
Haven’t said already.
American HODL (00:47:33):
Let me think, let me think about this, my story. All right. Well I’ll just tell you, I’ll just be honest. So I, you know, I grew up all over America. My father was a court high, high end corporate lawyer. We moved around a lot and you know, my mother was mentally ill. And so I, while my father was out being a, you know, a high end corporate attorney, I kind of had to take care of my mother and people would, you know, talk shit behind my back and behind my mother’s back. And I always felt very defensive over her. And so this gave me like a, a very early distrust of authority figures because a lot of the people that were doing I’m a little kid and a lot of the people that were doing this, you know, saying these things about me or about my mother were you know, adults.
American HODL (00:48:25):
And so from a very early age, I was just like, fuck these people basically. And then I grew up and that never went away. And I went through my entire life, you know, just being like, you can’t tell me nothing, fuck you. I’m going to do things the way I’m going to do them and trusting myself internally. So, you know, when I found Bitcoin, it was actually a very natural process for me because I wasn’t that ensconced in the dogmatism of American life you know, or what people were telling me at university. I just sort of have always thought for myself and been a self learner. And I think that’s where it all starts from it.
Vlad Costea (00:49:06):
So what kind of university studies do you have?
American HODL (00:49:10):
So I went to film school and so I have a, you know, so the reason we can go deep on film also is because I’m a big cinephile and I could talk about, I can talk about movies for all day. So I’m by training. I’m a filmmaker and I run a production company and that’s how I get a lot of my, my fiat to stack sats.
Vlad Costea (00:49:32):
Impressive. I also have a brother who wanted to become a filmmaker, but he didn’t pass the entrance exam, which supposedly is very hard. And you only have about 20 positions, 20 scholarships every year and 200 or something. So chances were about percent
American HODL (00:49:59):
Film is very complex. It’s one of those things like Bitcoin, there’s a lot to know and there’s a lot of sub subdisciplines within it. And there’s a lot to know within each one of those. Sub-Disciplines when I, when I was starting my training, I wanted to be a cinematographer. Who’s, you know, the person behind the camera, who’s responsible for the lighting and the camera movement. And I quickly found out it was much too technical for me. And even though I had a good eye, there’s a lot of math involved with these new systems and new digital cameras.
American HODL (00:50:28):
And I wasn’t exactly the guy to do the math. You know, I know
Vlad Costea (00:50:36):
I’m not coding because I’m not very good at math,
American HODL (00:50:39):
Right. Me too.
Vlad Costea (00:50:45):
Did I lose you? Or was this some kind of awkward moments of silence,
American HODL (00:50:52):
Vlad Costea (00:50:55):
That’s good to know. It’s a lot better losing you. If Bitcoin was a movie, what kind of genre do you think it’d be and who would be the so far?
American HODL (00:51:15):
You know, I think it’s Saifai right. I think, I think it’s Saifai if I had to say it would be the main documentary now. Well, yeah, you could do it as that, but documentaries are boring and they’ve all become propaganda pieces. I don’t know if you’ve watched the documentary in the last 10 years, but there are documentaries. Now they have a, they have a, they have a presupposition and the documentarian goes in in order to confirm his findings and lo and behold, he always does. So they’re propaganda pieces these days. I think Bitcoin’s science fiction, man. It’s, it’s basically like the credit system from star Trek. You know,
Vlad Costea (00:52:01):
I haven’t watched much Star Trek to be honest. So I didn’t,
American HODL (00:52:04):
Oh, you’re not as, you’re not a star Trek guy.
Vlad Costea (00:52:07):
No, I don’t know Klingon.
American HODL (00:52:12):
Well, I know that, I know that bake is going to be very disappointed in you. I know he’s a big star Trek guy. I’m sorry.
Vlad Costea (00:52:21):
I guess I’m curious to have watched star Trek. I could have watched it at some point when I had too much spare time and that was in university. I wish I got into Bitcoin around the time. What I,
American HODL (00:52:32):
Oh my God. I know I was in, I was in college back then too. And you know, the dorm room they advantage to mind.
Vlad Costea (00:52:47):
Can you repeat that? Because I lost you for a couple of seconds.
American HODL (00:52:51):
Oh, sorry. I would say I was in college back then. When when you were just thinking about how many Bitcoins I could have mind my computer with free power from the universe and I didn’t it’s man.
Vlad Costea (00:53:08):
Oh yeah. I could just buy one Bitcoin. It wasn’t much of a big deal back in 2014. When I first heard about it, I could just write bucks and buy one, but I had no knowledge about how to hold it and how to run a wallet, how to run a node. I guess
American HODL (00:53:29):
You could have bought, you could have bought 6.6 0.15 Bitcoin. That would have been even better.
Vlad Costea (00:53:37):
Well, even then I couldn’t afford it. I mean, I told her ship, it was about $80 a month. And with that, I could basically buy food for months
American HODL (00:53:53):
In some, in some ways I got out in university at the end of 2014. And so I started a business right away and my business was very successful right off the bat. During 2015, I had a lot of time to accumulate and most right around the time I found a Bitcoin anyway. So I, you know, I just taking money from my business and just plugging it on the Bitcoin. And my wife was like, what are you wasting all our money on? And I was like, woman, I’ll tell you when we’re rich.
Vlad Costea (00:54:33):
So did you tell her
American HODL (00:54:36):
No. I keep her in the dark now. Yeah, she knows. She knows she still doesn’t care at all 0%. And she only has maybe a vague understanding of how to get to the Bitcoins. So you can feel free to kidnap her. She is not going to be able to tell you anything.
Vlad Costea (00:54:52):
Why would I do that?
American HODL (00:54:55):
I don’t mean you Vlad. I mean, any, any audience members who may be listening, who are nefarious,
Vlad Costea (00:55:02):
You’re basically issuing a challenge where to honey pack.
American HODL (00:55:07):
That’s right. That’s right. And then in America we have, what’s called an assault rifle and I will straight up fucking murder you.
Vlad Costea (00:55:16):
Okay. So let’s take another question from the audience. So HODL now wants to know why you stacked 2 million SATs and not 3 million sets,
American HODL (00:55:32):
Probably because I stacked 3 million sats the day before you know what, that’s another regret I had in 2015, I took my, I took my foot off the gas and I, you know, I got to a number of Bitcoin that I thought was a big number. And then I just basically stopped stacking. And in retrospect, that was a huge mistake.
Vlad Costea (00:55:59):
Okay. What was the price of Bitcoin around the time?
American HODL (00:56:02):
That was two 20. It was like around two, 20, two, 20 for like most of 2015.
Vlad Costea (00:56:10):
I feel so bad right now.
American HODL (00:56:13):
Why were you not, were you not in back then?
Vlad Costea (00:56:16):
No, I wasn’t. I was still in university until 2016 and I was doing scholarships
Vlad Costea (00:56:24):
And basically trying to become an academic, which I wanted at some point I’m still a PhD, but I’m not sure when I will finish it because honestly I have to choose between something which is a scientific hobby and an intellectual curiosity of mine, or is I have to write teases or I can work on something which actually makes me stacks and sats. So why would you choose?
American HODL (00:56:51):
Oh, I would a hundred percent stacks ads, a hundred percent, a hundred, 150% back that I’m, I’m telling you when I, in 2015, that was one of the worst mistakes of my life was not continuing to stack. It was so fucking cheap. It was crazy. And so I got to a hundred Bitcoin, which was my number at the time. Probably shouldn’t say that, but whatever I decided and once I got to a hundred, I was like, well, that’s a very, that’s a good number of Bitcoin in case this thing, you know, really takes off. And it is, it definitely is, but I could have had way more if I had just put my foot on the gas. So during this bear market, I just went crazy and bought a shitload more. And then I just kept stacking as hard as I fucking can. And every day I buy three or $400 worth of Bitcoin because I’m not going to get, I, you know, I might, I might buy three or $400 a Bitcoin every day for the rest of my life, because I’m not gonna never, I’m never going to not stack again. That was a mistake.
Vlad Costea (00:57:57):
So do you have any kind of longterm plans with your Bitcoins, like passing on the legacy, making your children inherit?
American HODL (00:58:08):
Yeah, that’s a good, that’s a good question. I like, I like the freedom that money brings, you know, I have money now and I just feel like I don’t have to worry about money as often. I feel like if I want to do something, I can do it. I like the security. It comes with the things that you can buy with money. I don’t really give a shit about, like, I don’t really need a Ferrari or Lamborghini. You know, a nice house is always nice, but it’s not a necessity to live in a mansion in terms of inheritance, you have to always be very careful with your children so that they don’t think that money is free and comes from nothing you need to. I think my basic thing with my children is going to be, you know, if you do the right things, it will be rewarded.
American HODL (00:58:55):
So, you know, dad will help you out. If you’re doing things correctly, if you’re doing things incorrectly, I’m not going to punish you, but you’re also not going to receive any help there. You know, there won’t be any money coming your way. I would like to see my, my Bitcoins go to things that, you know, enhance our future as a species be that space travel, be that art’s patronage be that, you know, new companies I invest in then start whatever it is. I just want to make a Mark. Having a legacy doesn’t matter as much because who gives a shit. You know, most people don’t know who the fuck you are right now while you’re alive, 99.9, nine, 9% of the people have no idea who the fuck you are. So the fact that, you know, people have this idea that like, I want them all to know who I am after I’m dead. They don’t even know who you are right now. They’re not going to know who you are after you’re dead. Right? So I think a legacy is kind of not a worthy goal to shoot for, but you know, adding a contribution, adding a brick to the wall of humanity, that is something to shoot for. And if people want to say, that’s a legacy, that’s fine, but you shouldn’t care about the praise. You should care about the achievement.
Vlad Costea (01:00:07):
Well, you have the legacy of the six one five
American HODL (01:00:10):
That’s right. 6.15. That’s the King’s number, the golden number for the big titty bitches. That’s another reason I don’t care about my account. You know, my account keeps getting deleted, suspended, whatever. I don’t give a shit about this account, by the way, I might as well do this on the pod right now. If you guys want to know how to evade a Twitter ban, I’ll teach you. What you do is you get a VPN, you log in through a VPN, you get a new afresh email account and you switch your phone number. Bada Bing, bada boom. You’ve evaded, Twitter, censorship. It’s very easy. Really? Yeah. That’s all. That’s all you do. The reason I keep coming back so fast is I keep a second phone line. I switched the number on it. So every time Twitter deletes me, I call up my phone company and I say, Hey, what’s up. I want a new number. And then I switched the number.
Vlad Costea (01:01:06):
So you can get a new phone number, just like that.
American HODL (01:01:09):
Yeah, it costs, it costs $30, but it’s pretty easy.
Vlad Costea (01:01:15):
Does that not affect the way you get contacted by people?
American HODL (01:01:19):
This is my second line that I it’s sort of like a burner phone for me. I only use it to do things that are where I need enhanced privacy. Right. But if you want to do the cheapo version of the, here’s, what you do, text a friend who doesn’t use Twitter and just be like, Hey bro, I need the code that Twitter just sent you just put in their phone number and then have them send you back the code when Twitter verifies it via two factor.
Vlad Costea (01:01:53):
Okay. Basically giving them access to your accounts because they can retrieve the password.
American HODL (01:02:01):
Well, yeah, but you’re going to, you’re going to have to do that anyway. If you’re on Twitter, you know, I mean, you’re saying, Oh, you’re saying the friend, the friend. Yeah, yeah. Yeah, just do it with people you trust or just don’t be cheap and buy yourself a new phone number or just don’t get banned off Twitter. But if you don’t want to get banned, you’re going to have to play by their rules. And I don’t like playing by their rules. So I’m going to keep getting banned,
Vlad Costea (01:02:29):
Got banned once about a year ago, that’s reported by the Bitcoin cash community.
American HODL (01:02:37):
Oh, I remember that. I remember when you got banned that’s right. Because that’s how I became aware of you. It was during your banning. Really? Yeah. Cause everybody was talking about the Bitcoin cash. People had attacked you. And that was when I, that was when I was like, Oh, who’s this guy that they attacked. If they attacked him, I must like them. You know?
Vlad Costea (01:02:57):
I don’t remember it being such a big topic.
American HODL (01:03:01):
I think it was just like scattered around Twitter. It wasn’t like a, it wasn’t like the HODL, not thing where it was like a big deal, but I definitely remember hearing about it. And I think that’s how I became aware of it.
Vlad Costea (01:03:12):
Right. So Jacob wants to know your background and how you became financially free outside of Bitcoin.
American HODL (01:03:19):
So yeah, we were talking about this a little bit before the show and you were basically asking me how does cause I’ve, you know, I go online, I like brag about my income and stuff. You were asking me how to get, how to get your feet set up so you can get your stats up basically. And the way to do it is just have equity in whatever you’re doing. So, you know, selling your time for, you know, pieces of paper that are infinitely inflatable, probably not going to be the key to wealth generation, you know, but having equity in sort of sort of wealth building machine, some sort of an economic machine that continues to make money, you know, you’re the owner of the output of that machine or part owner. That’s going to be the thing that gets you to a more prosperous place.
American HODL (01:04:05):
So for me, I did this via my production company. And you know, you just start when you’re young and you get out of school, what you gotta do is just start cold, emailing people and start calling people. And you know, just, don’t be afraid to ask for money. So just say, Hey, we’re a production company or we’re X company. We do this or that. And then when they say what’s the price be like, it’s a hundred thousand dollars. A lot of people are going to tell you now, but there’s going to be two people that tell you yes. And then you just made $200,000, right? So it’s kinda like, it’s kinda like going up to supermodels and asking them if they want to bang you. Right. Most of them are gonna say no, but maybe there’s a couple who are like, Hey, alright, I’m feeling lonely today.
Vlad Costea (01:04:54):
That’s a good metaphor. I guess never tried it on. Supermodels always felt like they’re out of my league.
American HODL (01:05:05):
No, fuck that Vlad, you go right up to them and you’d be like, my name is blank. I’m going to fuck the shit out of you. Okay. I do it better than anybody else. And then you see what they say. It depends. And this
Vlad Costea (01:05:18):
Meets your culture. Probably I’m going to get reported on social media or something yet. Call that.
American HODL (01:05:26):
Well, that’s the key to wealth generation though, is overcoming those hurdles in your mind, the psychological hurdles, because it’s, it’s, you know, it’s hard to ask somebody for a hundred thousand, 10,000, 50,000, whatever it is, whatever the number is, it’s hard to, to, you know, feel like you’re worth that money, especially when you’re just starting out. But you got to kind of just fake it till you make it. And you get your paper ups on, you know,
Vlad Costea (01:05:55):
Baskets, muscle wants to know thoughts on coin, join and privacy in general,
American HODL (01:06:00):
Right? Yeah. I was talking about this a little bit on Twitter. I’m nervous about doing coin joins and I, so I haven’t done any myself. I kind of follow a Shinobi and Mr. HODL when they go back and forth about privacy. And I think one of them is team wasabi. And one of them is team samurai. Although I can’t remember, which is which one of the things about privacy that’s hard is if you make a single mistake, it basically ruined your privacy. Right? And so every time I start to go down the privacy rabbit hole, I started to just get more and more overwhelmed and confused. And I guess I’m in the camp with those that are waiting for it to become easier. Basically.
Vlad Costea (01:06:47):
I don’t think it’s hard if you download wasabi, it’s very straightforward. The interface is one of the most elegant I have seen and any Bitcoin wallet ever.
American HODL (01:07:00):
That’s that’s good to know. Here’s the thing though. Can’t you just get a lot of the same benefit that you can by doing a coin joined by just sending your coins to an exchange and then getting them back out of the same exchange. No, I thought you could, because that basically breaks chain analysis also possible. The only, the only problem being that you have the, you have the exchange knows your information, right?
Vlad Costea (01:07:25):
But with WhatsApp, you are basically mixing your coins with 50 other people, right? It’s hard for anyone to tell where comes from with spark, you’re basically linked to previous transaction.
American HODL (01:07:41):
I also have a problem with these privacy discussions because nobody’s going to fucking do this. You know, like most normal people are not going to do this. I mean, I’m a pretty hardcore Bitcoin or, and even I don’t want to do it. So, you know, if, if, if you just have privacy for one person or, you know, a small subset of people, you don’t really have that much privacy, the kind of needs to be for everybody. Right. So I don’t know that we’ve quite cracked privacy or fungibility in any sort of meaningful way. And it doesn’t seem to me like coin join is, is the, the way we’re going to crack it. Now, maybe, you know, once you know, what does it taproot that allows point joined by default? Maybe once that happens, that’ll be a different, you know, totally different ballgame. But right now we’re, we’re at, I don’t quite see it taking off.
Vlad Costea (01:08:31):
I think taproot is about smart contract functionality.
American HODL (01:08:35):
Oh, that’s right. It’s snow. It’s Schnorr that allows point drone by default, right?
Vlad Costea (01:08:41):
Schnorr is kind of different. Well, yeah, it might integrate coinjoins, but I think the discussion was about confidential transactions.
American HODL (01:08:51):
Right? Well Schnorr is just a more elegant signature scan. But my understanding, like, see, this is the thing I’m not technical. So my understanding is, is less than others, which is why you shouldn’t listen to me about any of this go with the other people.
Vlad Costea (01:09:08):
But at least you have 6.15
American HODL (01:09:11):
That’s 6.15. Yeah. Or as Matt Odell keeps ed monitoring may 615 million sats.
Vlad Costea (01:09:20):
Doesn’t roll off the tongue.
American HODL (01:09:22):
It. Doesn’t does it?
Vlad Costea (01:09:29):
Ah, I fucked up already.
American HODL (01:09:36):
But yeah. So basically I don’t, I don’t know much about privacy. I know enough to be trepidatious about a,
Vlad Costea (01:09:49):
But don’t you worry, ever that you might be receiving coins that are tainted and linked to the silk road.
American HODL (01:09:56):
I don’t worry about tanning coins. Do you sometimes. Cause I think if I think of that becomes a thing that there are actually quote, unquote tainted coins, then the entire thing is done. Like Bitcoin’s over, we can’t have different classifications for coins. You know?
Vlad Costea (01:10:14):
There are different classification center analysis.
American HODL (01:10:17):
Well, yeah, they’re right. Which ones come from dubious sources, right? I’m I’m talking about in the marketplace. Not technically. So if there are, you know, if there’s like a separate market for untainted coins than there is for tainted coins, which I guess you could say, it always gets so complicated, I guess you could say there is with the OTC desk. But if that ever became a global thing, I think we’re in a dangerous place. And there’s the argument that it would get arbitraged away anyway, because okay. Who’s to say, you think this point is tainted. I don’t give a shit. It’s still a Bitcoin. I’ll take it off your hands. It’s still digital as digitally scarce as the next Bitcoin. Right. So I think that would maybe kill the market for quote, unquote tainted or untainted coins. I don’t like the terminology that I don’t like. I wouldn’t say there’s tainted points. There are coins that have been on silk road. Sure. But you know, are those tainted,
Vlad Costea (01:11:15):
I don’t think they belong to the people who use them on silk road anymore.
American HODL (01:11:19):
Right. It’s like, is there a tainted cash? You know, something like, what, what is it something like 20% of all cash has cocaine on it? Or maybe it’s like 80% of all cash has cocaine on it. Is that tainted cash now?
Vlad Costea (01:11:36):
No, because it’s cash. You can physically hold it and nobody can take it away from you. But if you do this same with your bank account and you basically use digital money, which is you should buy your bank and we’re going to look forward to source. And it’s interesting. And I had this conversation with a friend today and she basically told me that her bank account is frozen and she cannot receive her pay. And she has been working hard for the past months and wants to get her salary and she cannot get it because of her bank account. And I basically told her, this is the new slavery, right? You have a bank account. And without it, if the bank arbitrarily decides that you’re not eligible to have one for whatever reason, then you’ll not be able to get engaged in the economy. You’ll lose part of your financial rights.
American HODL (01:12:30):
Well, totally. Yeah. But this is, this is what I’m saying is we don’t have that construct in Bitcoin. Nobody can freeze your account. You know, I mean, if you’re using a trusted third party sure. But if you’re taking control of your own monetary sovereignty, nobody’s going to be able to freeze you.
Vlad Costea (01:12:45):
That’s why Bitcoin matters. And that’s why we should hash. And we should not allow our governments to push us towards that cashless society, which maybe that they have in Sweden.
American HODL (01:13:01):
Yeah. I think, you know, there’s some sort of idea kicking around in my head that I’ve never fully fleshed out, but you know, at some point the governments are definitely going to try and go cashless. Like I think we have to see that coming. Right. We all do. And the question is, do they do it with some sort of blockchain type technology? That’s Bitcoin and Json, and if so, does that speed up the velocity of their own demise? You know,
Vlad Costea (01:13:34):
Really because people don’t care. I mean, we haven’t seen the consequences yet, and they’re not aware of what it’s like to have your money basically controlled by a third party that can do anything with it and can tell you when you cannot spend it and we can already see how some banks don’t allow you to buy Bitcoins. They will just stop any transaction which takes place. And then you kind of Bitcoin exchange. They basically blacklisted for example, Coinbase, and you cannot make any purchases and that’s your money. Why do they care? They’re going to say it’s protection that for you
American HODL (01:14:13):
When it’s also like, you know, you using your money to let’s say fun, terrorism or commit murder or whatever it is, the, the funding, it is not a crime, the doing of the terrorism or the murder or the illegal drug trade. That’s the crime. Right. Which I don’t think that legal drugs should be criminally penalized, but that’s the crime and there, they don’t want to do old fashioned police work where they solve the crime. They want to
Vlad Costea (01:14:50):
Hello. I think I lost you. I don’t hear you anymore. I’m not surfing connect to me. Yeah. You’re back. You got me. Yeah.
American HODL (01:15:07):
Okay. Should I start over on what I was saying? Or should we just continue on, start over please? I think what I was saying is basically the so basically, you know, funding
Vlad Costea (01:15:26):
Plus they’ll gum. I usually don’t edit podcasts, but this one is going to need it because of these breaks. Isaiah. Now,
American HODL (01:15:43):
Can you hear me now again? Not sure what’s going on in the whole app. Just glitched out. I think it’s on my end.
Vlad Costea (01:15:50):
Oh, you use the phone app?
American HODL (01:15:53):
No, I’m on the iPad. But it glitched out on me. Okay. It’s still great. Alright, I’ll start. I’ll start over. So what I was so basically doing a crime is the crime funding. The crime is not the crime and they don’t want to do good old fashion police work, where they track down the criminals. They just want to track all of us all the time and see where our money is going. You know?
Vlad Costea (01:16:22):
Well, I guess that depends if you’re dealing with a non-criminal and you’re basically encouraging it by knowing what you’re doing, I guess you hold part of the guilt or whatever has been done, because he knew where what’s your money was going to do. But in some cases you unknowingly donate to some kind of charity and they turn out to be some sort of Charles Manson cult.
American HODL (01:16:48):
Right? Well, but if you were, if you were donating, let’s say you were using, you know, sending money to some sort of criminal or whatever. The service that you’re procuring, the criminal service, that’s the cry, the sending of the money is not a crime. You know what I mean? Yeah, I get it. Yeah. And they’ve made, they’ve made the sending of money, a crime. The OFAC list
American HODL (01:17:10):
Is a, you know, a terrorism watch list where they won’t allow you to you know, now another thing people get confused on this point where they think that, you know, because we have addresses in Bitcoin that these addresses are easily answerable. But you know, sure. You can just start it. You just create a new address. You can create as many addresses as you want. So go ahead and sensor them. It doesn’t matter
Vlad Costea (01:17:35):
Also with that. And the fact that it’s an open market and if somebody refuses like mine or blocks you and doesn’t want to transact with you, there’s going to be one which wants to collect your fees.
American HODL (01:17:48):
That’s the exactly. That’s the other thing
Vlad Costea (01:17:51):
In the case of something which is centralized and has essential power, which basically decides all of you are not going to do this and you’re not going to accept money or send money to this third party. Well, in the case of Bitcoin, there’s going to be somebody on the open market. For example, I can think of full mentors and I can think of minors that basically take advantage of full man pools. And they say, okay, I’m going to pick up these transactions, which are the cheapest, because there are so many of them and I’m going to make some money and that’s fair, right? Economic ride as a minor to basically do a service or which you’re going to get paid.
American HODL (01:18:39):
Yeah. I agree.
Vlad Costea (01:18:40):
Concept with banks. There’s not going to be one which is fair with you because they have to comply to the same rules and regulations. There are ones that are more well Yun and harsher, and one to check on every cent or penny that you’re sending to other people. And they’re going to be curious about the source and the purpose. And there are going to be people who don’t care and they’re going to be blinded by this whole movement of saying I have nothing to hide. So I don’t care. And their ignorance is going to basically punish people who maybe need the privacy for reasons that are not necessarily criminal in any sense.
American HODL (01:19:28):
I think in I think in Bitcoin, you know, we, we sometimes unfairly get accused of attacking the, the quote unquote Bitcoin banks, you know, the exchanges like Coinbase or crack and or Gemini or any of those. And we do, we do attack them. And we, the reason we attack them is because they are subject to all of the same regulations that the modern banking system is subject to. So they censor transactions and they act just like, just like any other bank, right? So we may see a world in which once enough people have taken control of their monetary sovereignty and we’ve broken you know, of the global, you know, monopoly on, on banking. We can see a more free market banking system arise. And maybe in that free market banking system, you would feel comfortable leaving your Bitcoin with a bank with a good reputation, maybe not all your Bitcoin, but maybe some of your big ones, you know,
Vlad Costea (01:20:27):
Knowing how hard I had to work for the small amounts of Bitcoin that I was able to accumulate. I would never leave it in the hands of somebody else.
American HODL (01:20:36):
Totally. Yeah, no, I feel that, I feel that way right now, too. But maybe in a hundred years, it’s different, you know this is a very longterm view I’m taking on this.
Vlad Costea (01:20:48):
I guess what every major paradigm shift there has been something very radical in the sense that they wanted to change everything fundamentally. And you had these early adopters who understood it and got it. And then you had people who just wanted to adapt it to their old way of living so that they preserve whatever they knew and whichever way of life they had. Right. And right now I can see it for example, where I’m not sure if you saw that product, the coin mine.
American HODL (01:21:21):
Oh yeah. That Pomp is an investor in
Vlad Costea (01:21:25):
Supposedly I don’t care much about Tom. I don’t listen to him, follow him. I don’t like the style in which he tweets. I don’t see the value that he brings into the space, but that’s just a subjective points of view that I have. But the product itself is mediocre. And people just seem to like it because supposedly it’s very quiet and doesn’t make much noise, so you can keep it in your living room, but it’s not going to mind anything. It has such a low hash rate and it’s kind of pointless. It runs a full node, which is nice and just that’s it. My rebel, it can do lightning better than, than the Casa node, which is just under powered. And that’s not going to work so well, but it’s $700 for that kind of money you can buy either. And basic, which is about 200 bucks on eBay, or you can buy an Xbox one X, which is much more powerful. And you’ve, if you have any kind of coding skills, you can basically tweak that machine to mine, more Bitcoins than the coin, mine, or almost half of the price.
American HODL (01:22:43):
When you look at the people that the coin mine is being targeted to, you know, I get ads for the coin, mine on Facebook videos all the time. And so they’re targeting to a very I don’t want to say low level, but low level consumer.
Vlad Costea (01:23:03):
I get it. And there’s the market for, but what I’m saying is that their product is too expensive for what it does. Right. I can understand that they make a profit out of it. But after that, they’re going to tax 5% of all the coins that you mine. And they say, it’s just for updates to your system, but they’re already made a profit. So if Apple did this, I guess a lot of people would be enraged. If they took 5% of what you have earned with your iPhone, let’s say that they have this type of system, which monitors, how much money you are making with your phone. And then they decided to save 5% and say, they’re going to improve the service. You already paid a lot of money for the product, and they’re making a profit out of it. If you’ve got a nice deal, like the whole system was 200 bucks and that’s how much the hardware is and are not making any profit, then you can say, okay, this is fair because I’m going to pay for the rest of what, for the labor and for the software and for the rest of the hard work, I’m going to pay it by plugging in the machine and basically giving away 5% of all the Bitcoins that I mind.
Vlad Costea (01:24:21):
But when you pay $700 or $800, it’s not there in any way.
American HODL (01:24:27):
Oh yeah. Well it’s yeah. It feels like if net Netflix was to give you ads, you know, I was like, no, I already pay for this. I don’t, I don’t want ads in the middle of it.
Vlad Costea (01:24:38):
Exactly. Or just, I’m not sure if you have an intent, they’ll switch.
American HODL (01:24:43):
I don’t know. But I do have an Xbox one X
Vlad Costea (01:24:47):
There’s doom, like the original game from 1993, which was launched on Nintendo switch, right? The basically had to pay five bucks for it, which is a very reasonable price. But after you paid five bucks, they would make you create this kind of bet says the account and data basically verify the integrity of the files and keep some metrics like collect statistics about how you play in how long, how much time you spend within the game. And that’s the kind of stuff that you expect from free software. You download this shitty app,
American HODL (01:25:26):
Vlad Costea (01:25:27):
They’re going to collect data about you, but that’s the way they monetize. When you pay money for it, you expect it to be, you know, yours and you should be able to do whatever you want to do with it.
American HODL (01:25:41):
Well, further what’s even more bullshit is that I know for a fact that doom has been open source for 20 years. You know, I think the engine has, I’m not sort of fucking, that’s insane. Like that’s crazy, you know,
Vlad Costea (01:25:59):
It is. And it’s an incredible video game. I can think of anything from the era, which is just as great.
American HODL (01:26:08):
Oh, I love doom. You know, there was a John Carmack, who’s the creator was just on the Joe Rogan podcast the other day. Very, very worth listening to, if you haven’t checked it out yet,
Vlad Costea (01:26:18):
I’m going to listen to it while I work.
American HODL (01:26:22):
I know that’s super, super smart. And what I didn’t know about him was that he had a rocket company that was somewhat competing with space X for a while.
Vlad Costea (01:26:34):
Yeah. They got grants from NASA. They want something.
American HODL (01:26:36):
Yeah. I didn’t, I didn’t keep up with his company at all. I didn’t, I didn’t even know about that. So very interesting. He’s kind of psycho. Oh yeah, yeah, yeah.
Vlad Costea (01:26:48):
I have no idea why he is and he is not into Bitcoin. Possibly. He’d be busy working on Facebook’s Oculus rift.
American HODL (01:26:57):
Well, probably cause he’s already rich too. You know? I mean, once you’re already rich, you know, you don’t care about money as, as much.
Vlad Costea (01:27:06):
Well, I can think of the Winklevoss and Wells is very rich. I think trace Mayer was already rich when he got into Bitcoin.
American HODL (01:27:16):
Yeah. But there’s a big difference between, you know, a couple million bucks and you know, hundreds of millions, billions, you know, like I think, I think Trace and Roger are those guys, Eric Voorhees, they probably were all worth like, you know, a couple of million bucks when they first got in. And now a lot of them are billionaires are knocking on the door of being billionaires. Right. I don’t think John Cormack is quite that rich, but I bet you, he has 50 million bucks, a hundred million bucks
Vlad Costea (01:27:45):
Possibly. And he’s a geek, the kind of guy out of time, just obsessing about whatever he does.
American HODL (01:27:52):
But it’s like, Steve Wozniak remit. Do you remember when Steve Wozniak said he’s sold his Bitcoin? Cause he didn’t like watching the price go up and down. Yeah. He was checking the price too much. And he was like, I don’t like it,
Vlad Costea (01:28:06):
But at least he’s old and possibly he doesn’t care much to him. And it’s all experimental.
American HODL (01:28:13):
Well at a certain point too, you know, you are being, it is sort of an insanity to continue to acquire capital actively. Like if you already built those wealth machines in your youth and then they continue to work for you. That’s great. But if you spend all your time thinking about and fantasizing about money instead of living, then that’s not really, that’s not really life. You kind of just made money, your God, and that’s your fixed focal point.
Vlad Costea (01:28:43):
Oh, I agree. A lot of people don’t seem to get this, but I suppose dos or don’ts are the ones who are not really rich and have never held like a fabulous amounts of money or Bitcoins in their wallet.
American HODL (01:28:56):
Right. Because I’ll tell you man, like I’m, I’m you know, by
American HODL (01:29:02):
Any standard, you know, my, my, my net worth in you know, USD is like $6 million. So I have money and I don’t feel any different. I feel the same money took care of some of my money problems, but it didn’t make me feel different as a, as a person. And I think where we all get tripped up as humans is like, let’s say you’re out in the cold and you’re starving and you’re hungry and you’re wet. And somebody brings you into a nice warm house and they give you food and they give you a blanket and then let you warm up by the fire. Well, you went from misery to happiness and it was stuff that made the difference. Things made you happy because you had a lack of things. And then you had things around you and that made you happy. And that’s, that’s a truth. That’s a truth about humanity. The lie that we all tell ourselves is that if I had that many more thing, I would be that much more happy. And somebody like bill Gates or Jeff Bezos, they must walk around in this perpetual state of bliss. And that’s not reality. Once you get to a basic level of sustenance, nothing else will make you much happier from there
Vlad Costea (01:30:24):
Makes a lot of sense, I guess. Maybe they’ll never be rich like you are, or like Roger veer, Eric Vorhees and trace Mayer. But at least maybe I get to live a decent life and which I don’t have to worry much about surviving because the biggest struggle of the mall, being able to put food on the table, being able to raise a family and basically live a normal life. That’s void of existential struggles. And I don’t mean psychological existential struggles. I mean something which basically buttons your health directly.
American HODL (01:31:08):
Right? Well, I think, I think if you, you know, if you have enough Bitcoin, you’re not going to necessarily be rich, but it’s going to, it’s going to be very good for you. Now. The hard part will come. What’s your longterm plan? You know, what are you? You’re only 27. So what’s 50 years from now look like for Vlad, because you have to make those decisions. Now, you know, people think that you can make them late or you can’t, you’re going to win or lose later based on the decisions you make now, it’s like safety and thing where you’re trading with future Vlad, right? So during the next bull run, if the Bitcoin price is half a million dollars or something crazy like that, what does present Vlad do? How does he trade against future of lad? This present Vlad go out and spend all his Bitcoin on a house and a nice car and this and that, or this present Vlad maybe so a little bit coin or spend a little bit fund some needs and some wants, but maintains a large chunk for future and future generations. These are very, you know, it’s a very personal question too. Like I can’t tell you what’s right for you. Only you can tell you what’s right for you.
Vlad Costea (01:32:25):
Oh yeah. And you said that you never sold any Bitcoins ever.
American HODL (01:32:29):
Never. And I, and I, you know what I want to say, I never will because I’m going to spend them, you know, on investments that are productive and make me more Bitcoin. And then I’ll, you know, I’ll spend a little bit of that to live and things, but I don’t mind, my net worth is not entirely Bitcoin. Some of it is in dirty paper currency. So I just, I tend to spend that instead of spending the Bitcoin
Vlad Costea (01:32:59):
Psychedelic, all bar two wants to know when you found out about Bitcoin and how long it took you for how long you have been asking. Yeah.
American HODL (01:33:08):
I, well, I found out about it in 2012 on the Joe Rogan podcast from Duncan Trussell who was talking about people buying drugs on the silk road. And I thought, okay, you know, I had the same thought everybody has, which is like, okay, cool. Some nerds are buying drugs with nerd money. Right. And then a year later, my, my buddy came to me at the bar and yeah, cause me and him wanted to buy drugs. And then he was like, Hey dude, you know, that Bitcoin thing, it hit $1,300. Cause I knew that at the time Don controls and talking about it, they were like $12 or something. So I was like, Holy shit. That’s like a thousand or a hundred X but thousand thousand. And I was like, I could have been, you know, so rich. And then, then it took me like a year and a half of that basically like depression. And then I saw the price had cratered, you know, it was in the low two hundreds. And that was when I decided to finally buy some. And at the time I was buying it, it’s still kind of basically felt like I was throwing my money away. You know,
Vlad Costea (01:34:19):
It’s all like that in the beginning. Right. You feel like you could have spent that money on something which could have made you happier.
American HODL (01:34:32):
Vlad Costea (01:34:33):
Even though maybe that Bitcoin will get nowhere assumingly, that we’re not going to see another bull run, but we have all learned a great lesson about basically tempering our preference and trying to understand what is essential and what is just a pointless much realistic wants that we have.
American HODL (01:34:58):
Yes. And I think Bitcoin, you know, I was already on that path before Bitcoin. Like I was already ruminating about these things and thinking about delaying gratification I didn’t call it lower and time preference at that time, I called it delayed gratification. And I knew that if I traded with my future self, that I could make much more money. But Bitcoin hardened that resolve to a tremendous degree. So, you know, all the things I was thinking about, about delaying gratification, I just started taking them to like, you know, extreme conclusions. Like I may never spend any of this Bitcoin. I may just leave it to future generations, you know, we’ll have to see, but I, I started thinking of myself less as a person who owned this Bitcoin and more as a steward of this Bitcoin, somebody who’s just, who just happens to be looking after it. Right.
Vlad Costea (01:36:00):
I also have another question and possibly we’re going to do them all, but Roxana Nasoi, who is also remaining one, see, now how many Twitter accounts you’re you predict that you’re going to have by 20, 25,
American HODL (01:36:17):
By 2025. Let’s see I’m averaging four a year. So I’ve already gone through five. So by 2025 about 26 accounts, all set,
Vlad Costea (01:36:32):
Okay. That’s not as much as you would assume Five a year, not so bad.
American HODL (01:36:42):
It’s sort of like, it takes me a couple, a couple months to go through an account, you know,
Vlad Costea (01:36:51):
Also. So she whites and modal, which is a nice pun for Walter White wants to know if your friends and family know that you’re Bitcoin rich. And if they listen to you to buy some,
American HODL (01:37:06):
Oh my God, my my friends and family all know that I have Bitcoin. They all know that I won’t shut the fuck up about Bitcoin. But none of them, for some reason, believe I’m rich. They just, they just don’t believe it, which is strange. It’s not like I go around screaming. I’m rich. I bridge either. But you know, when money conversations come up or whatever, you know, you say these things to Pete, like people will tell you things about how they’re financing a timeshare or something. That’s a really stupid purchase and you’ll start to give them advice about it. And they’ll, they’ll give you some boilerplate explanation. That’s just kinda like, well, everybody does this know. And it’s like, yeah, well, everybody does it. It’s not something you should be doing. Shouldn’t be doing what everybody else is doing. And they shouldn’t be financing a car and stuff like that. The, no, they don’t believe me. And they think I’m insane.
Vlad Costea (01:38:10):
So American HODL is going against the American dream.
American HODL (01:38:15):
That’s right. Yeah. I don’t believe you should live in a, up to your eyeballs in debt or, you know, like, what’s wrong. Why is everybody in such a hurry, man? You know, you’re not going to appreciate any of the things that you get. If you get them right now, you’re going to appreciate them after you’ve worked for them. You know, you don’t need a new car, like an old shitty car we’ll work and we’ll get you to where you’re going. You know, sometimes I go to the you know, I live in like a nice area and I go to the store and there’s, you know, $150,000 cars parked next to me. Mercedes and Lamborghini’s and you know, this and that. And I just always think to myself, like we’re all here at the same place. We all drove on roads that have speed limits. You didn’t get here any faster than I did. So you basically paid $130,000 more than I did. Just so people would think you were cool when you got to this location. All I had to do was park in the bat and then show up and left my personality, did the talking for me. I think it’s, I think it’s crazy the way most people live.
Vlad Costea (01:39:26):
Well, some people think they get some kind of eternal riches and big titties.
American HODL (01:39:36):
No, but you’d have to, we all know that you have to have 6.15 Bitcoin for that. And that’s the true, the true status symbol is 6.15 Bitcoin, you know? Exactly. And all you gotta, all you gotta do is sign, sign that transaction at the bar, you know, just sign that transaction at the bar. And that she’s just gonna, she’s going to take off her top. That’s that’s all I know.
Vlad Costea (01:40:01):
Wait, so 6.15 Bitcoin and ladies are going to take up their top of the bar.
American HODL (01:40:08):
Yeah, you don’t, you don’t give them the Bitcoin. You just sign a transaction in front of them. They go crazy, dude, they’ll take it. They’ll just take it all up right there. I’ve seen it.
Vlad Costea (01:40:19):
You can certify that this is what happens.
American HODL (01:40:23):
Oh yeah. I’ve done a lot of, you know, me and my team. We’ve been out there field testing it and we’re getting some promising data, some promising feedback. So I’ll be publishing a full report in the coming months. This is a very wide survey that we’ve been doing. But yeah, we’ve been going to bars across the world and surveying well endowed women.
Vlad Costea (01:40:45):
Could you please pull the results and say to which extend or what is the percentage of success? Yeah, it’s a hundred percent.
American HODL (01:40:54):
I can say that with, with impunity.
Vlad Costea (01:40:57):
That’s perfect. So I guess the influence our mentor in the beginning, this is a question by Rhonda banks
American HODL (01:41:05):
In the Bitcoin space.
Vlad Costea (01:41:08):
I have no idea what the beginning is.
American HODL (01:41:11):
You know, I’m, I’m going to go with a different answer than most people would give. And I’m going to say Peter teal. And I don’t, I don’t know if you’ve read Peter Till’s zero to one. Have you read that book? No, what’s, it’s probably the best business book of our time. And in it, Peter talks about some really interesting phenomenon between the generations. Like for instance, you know, like our grandparents generation, the generation that fought in world war II was the type of generation to use, you know, have big, hairy, audacious goals and use calculus to get there. You know, it was like, we’re going to the moon, we’re going to put a man on the moon. How are we going to do it? I don’t know we’re going to do the math. We’re gonna, we’re going to figure it out. And then our parents’ generation was this sort of generation of indefinite optimist where they were saying, things are probably going to get better in our lifetime.
American HODL (01:42:08):
And we’re not sure how they’re going to get better, but they’re going to get better. And you know, I, I guess this is the sort of algebraic function that, that shows that these things are going to get better. How are they going to happen? I’m not quite sure. Right? And then our generation is sort of indefinite to definite pessimistic where we know that bad things are gonna happen. And that we’re just trying to get out of the way of those bad things. And a lot of people in our generation, you know, use hedonism or you know, high time preference activity, and behavior to escape this pessimistic fate. Whereas we, as Bitcoiners I think are reverting to, you know, sort of our grandparents’ generation and being, becoming definite optimists again, where we’re saying the world is going to get better. We know we’ve done the math, the math is this.
American HODL (01:43:09):
Here’s how the Bitcoin algorithm works. Here’s when the havings are, you know, the blocks keep propagating. Things are getting better and we have reason and cause to be optimistic. And I took a lot of influence from that book. I know Peter teal owned Bitcoin and then sold it. I’m sure he will own it again. He’s a very smart guy other than his investment in EOS, which makes me lose a little bit of respect for him, but he’s still a super genius who I definitely respect. He also has this thing where, you know, in Silicon Valley they say that you know, everything’s, you know, failure is, is like pre success. Like, Oh, we didn’t fail. We’re were just pre successful. And Peter’s take on that whole thing is, you know, failure is not some sort of Darwinian imperative where there’s a lot of tragedy, but it’s beautiful and you learn something, you know, Peter things, failure is always tragic and avoidable. And that’s also a lesson I always like to employ to not think that I’m going to fail when I start out to start out with a clear goal in mind, and to do anything that it takes to hit that goal.
Vlad Costea (01:44:25):
Fascinating. But do you have anybody from the Bitcoin space invested in Bitcoin, but somebody like, I didn’t know, Adam Back, Nick Szabo, Hal Finney…
American HODL (01:44:39):
Obviously, obviously Nick Zibo is incredibly intelligent and his writings, a lot of them, I have to read four or five times because they go over my head. You know what I like Hal you know, I always liked how, when I found out about Hal because how was just like promo bullish from day one? Like how was just like, of course it’s going to be the world reserve currency. Like this was at a time when this was just on some obscure mailing list that Hal and 25 other people were subscribed to. And how was the only one who wrote back, but he just had this like eternal optimism and he, he saw the vision from day one. So yeah, that’s pretty inspiring. And then also, you know, in the early days, Andreas was very inspiring to me. And now I don’t like him as much.
Vlad Costea (01:45:31):
You think that he has changed or you have changed?
American HODL (01:45:36):
I, you know, I think I’ve changed. I also don’t agree with his assessment. That maximalism is a fear response. I think Andreas has to think that because he’s been on the brunt receiving and of a lot of maximalist attacks recently. And so he thinks that it’s a, it’s a fear response and that we’re all afraid of losing our money. And I think it’s more of a moral response to all the scamming that’s been going on in this open system. Like people, people like to, people like to use the free market to explain a way their immoral behavior. And it’s like, well, it’s all the free market, man. Well, Hey me telling you that you’re an immoral piece of shit. That’s the free market too. And I can print articles about it that say you’re in a moral piece of shit and I can attack you as much as I want, because that’s also the free market. So if we’re all going to stand behind the free market, letting us do whatever we want, but what I want to do is impede your ability to do whatever you want to do. And that’s also the free market.
Vlad Costea (01:46:40):
Well, sir, but at the same time, there is a point where we just have to accept that we’re dealing with grownups who are stubborn and no matter what we’re to tell them,
Vlad Costea (01:46:50):
They’re going to be convinced that they might be right and they want to prove us wrong just out of spite or just because they have this kind of feeling that they want to be on top and they want to prove you wrong. And there’s nothing to these people. You can try to educate them. You can try to explain to them rationally what’s going on, but they’re going to see that bcash is a lot better and big blocks are a good idea and whatever
American HODL (01:47:18):
Well that’s, those people are, that’s the Dunning Kruger effect. You know, those are people that are stupid, who don’t know they’re stupid. Like I don’t care about them. I w who I care about are the people that are, they should know better, you know? And I think Andreas should know better. That’s my own personal thing. And he’s obviously free to do whatever he wants. And he always blocked me on Twitter. So it doesn’t matter. Anyway, my opinion, isn’t going to get through to him.
Vlad Costea (01:47:46):
At least you’re getting a new account, which means that you get a first
American HODL (01:47:52):
That’s all right, I get, I get a fresh block. I get to get blocked again.
Vlad Costea (01:47:56):
And he gets the value, your opinions. Once again, I may be friends with him,
American HODL (01:48:04):
What I was saying earlier about people promoting dangerous and false narratives. You know, Andreas was doing a lot of that back in the 2013, 14, 15 era. And he promoted a lot of falsehoods or a lot of things that were myopic that were true at the time that later turned out to be false. And, you know, it’s hard to fully fault him for that, but there was collateral damage from some of that, that he did. So
Vlad Costea (01:48:34):
Like when he was saying that Bitcoin is free to transact,
American HODL (01:48:38):
Right? Yeah. He was. And he would make that a point in all of his, and, you know, he was technically kind of right at the time. I mean, it was, it was never free, but it was very cheap. I dunno, I wish obviously I wish he’d had a little more foresight or at least, you know, some atonement would be nice from him. I’ve seen nothing from him that is, you know, maybe I shouldn’t have said all that. Nothing.
Vlad Costea (01:49:05):
Yeah. She doesn’t seem very humble in this regard.
American HODL (01:49:08):
He also seems. Yeah. He seems like, he seems like he has new found fame and he’s intent to keep his newfound fame. And I’m, you know, I’m, I’m suspicious of anybody who wants to put their face out in public like that, you know, especially that’s me as an anonymous Bitcoin or part of the reason for being anonymous is, you know, cause I kind of am like this in real life. Like I don’t need to be anonymous to say the word faggot, like I’ll say faggot on Facebook. I don’t care. The reason I want to be anonymous is because I don’t matter. I’m a nobody, I’m just some guy in now. So when you put your face out there, like Andress does so publicly and he’s all over the place. And I know that you’re, I know that you’re a public big corner too, but you know, some of these people are really seeking the limelight and I’m always immediately distrustful of that behavior.
Vlad Costea (01:50:05):
Yeah. I can see why, because I tend to be the same with people who just want fame for the sake of it and don’t want to do anything. Right. But in the case of Andrea, so at least he’s writing books and I know that he is working on mastering lightning network.
American HODL (01:50:23):
Yeah. I’ll have to put that one on my shelf next to mastering Ethereum.
Vlad Costea (01:50:28):
Oh, you bought Mastering Ethereum.
American HODL (01:50:30):
No, I’m kidding. No, I’m kidding. I would never, I would never buy Mastering Ethereum, what’s to master?
Vlad Costea (01:50:40):
There is a lot to master, but it’s a mess.
American HODL (01:50:44):
Well, that’s, that’s what I’m saying is, you know, they’re, they’re going in a million different directions at once. And none of them are gonna work out. So it’s, it’s just a complex Rube Goldberg machine. You know what I mean? You know what a Rube Goldberg machine is? No, those are those things where like, you know, the, the guy will be eating breakfast and in order to get the eggs on the plate is complex contraption around him. You know, she moves a bunch of levers and then puts the eggs on the play. You ever seen those videos on YouTube or anything? No, never. I have to send you one, but anyway, it’s, it’s unnecessary bullshit
Vlad Costea (01:51:27):
Making an extra effort to do something, which is obvious. Yes. Just as is. Yes. I can agree with that. And I used to be very enthusiastic about anterium because it was using all the hype words that I was willing to,
American HODL (01:51:45):
Vlad Costea (01:51:46):
The world computer decentralized internet with decentralized applications that can be deployed and cannot be censored. And in my mind, I was like, Oh my God, this is it. This is the future. This is the kind of invention which I was waiting for.
American HODL (01:52:02):
No, well, this, this was I had the, I had this similar reaction where, when Ethereum first launched, I mean, I was there for the Ethereum ICO and I could have invested you know, at Ethereum at 50 cents, which I guess in retrospect, I should have done, but you know, nothing made any sense and you’d ask Bartolic questions and he would come back with nonsense and then his disciples would spew more nonsense. And none of it ever seemed like it had any chance of succeeding. And then it grew to $1,100 a coin, which is something I never saw coming because I never thought the fucking made sense. I never had an aha moment with a theorem and an aha moment. You know, that moment where you look at it and you go, aha, this is it. Yes. Eureka moment. No, not really. Nobody does it. It doesn’t make sense.
American HODL (01:53:07):
And I used to, you know, I used to go on there on our Ethereum on their Reddit. And I would ask a bunch of questions. I mean, all the time, like I spent a lot of time on our dash, if there I’m trying to figure out if something was real and I never got back any answers that made any sense. And I still haven’t the whole thing doesn’t make sense. You know what I mean? Like, how are they going to go? How are they going to transition their system to proof of stake? It doesn’t seem like it’s feasible in any way, shape or form. Right. It just doesn’t seem like it’s ever going to happen. And then all the stuff that they said, you know, the world computer and decentralized that they abandoned all of it for these new narratives that aren’t, that also don’t make sense.
American HODL (01:53:59):
Right? Like de fire. Now there are quote unquote programmable store value. No, they’re not there at the drop of a hat. They can change the, you know, the monetary code base. Like nobody knows how many are there and we’re going to be issued. There are no guarantees. It’s, it’s a soft money system. Yeah, it’s, it’s nuts to me. They have a, they have a quote unquote Linus, Torvalds, but like, you know, Linus Torvalds who leads Linux is a genius and he’s humble. And he knows what he’s doing. Vitalik doesn’t seem to be any of those things.
Vlad Costea (01:54:38):
Yeah. But I guess Vitalik gets the most credit for interior while it wasn’t his invention. 100% maybe he came up and did some basic coding, but he had people working and doing the hard work he was.
American HODL (01:54:55):
Yeah, that’s true.
Vlad Costea (01:54:58):
I mean, he also had Charles Hoskinson and some other people, maybe that Charles Hoskinson is not the best example, but he’s a coder at core,
American HODL (01:55:10):
You know, there’s, you know, I don’t know how many people know about this, but, you know, Andreas owns at least a million dollars worth of material really? Yeah. Do you know that? No, there was a pod podcast back. I think it was on the, the let’s talk Bitcoin podcast back in 2015. And he talks about buying you know, a thousand Ethereum at, at the ICO. So at the top, that was a million dollars worth of, but there am. So it totally makes sense where his economic incentives were aligned, you know, and that’s why he wrote that book and continues to show for a it. But yeah, he invested in the ICM. He was there for it,
Vlad Costea (01:55:52):
Possibly a lot of Bitcoiners gotten around the time. Oh no, I know, I know it was promoted as Bitcoin 2.0
American HODL (01:56:03):
Yeah. I’m sure that I’m sure that today he still has minimum quarter million dollars, but there I am, although I’m sure he has more.
Vlad Costea (01:56:14):
Yeah, it makes no sense really. I mean that Bitcoin, you can see that there’s a future for it. There’s an application for it. And there is a demand in this crazy world where transactions get sensor, then banks get too much control. So there’s a use case, which is clear in the case of anterium you can argue that decentralized applications have value. You can say something like this decentralized exchange can be interesting and can be something with which we can make experiments. But more than that, what can you use really like colored colored coins that they’re trying to build on top of Bitcoin right now with telecons and collectibles, you have crypto kid basically destroyed the whole callability of material around the time.
American HODL (01:57:06):
People don’t even know that that’s that colored coins is a Bitcoin concept. You know, like all of these things, all of these Ethereum things were things that we used to talk about in the Bitcoin forums before Ethereum launch. You know what I mean? Like all of their concepts came from Bitcoin. Like for the most part, I don’t know about some of that, some of the new crap, but a lot of the things that were working or were proposed were originally, you know, just stuff that was part of the Bitcoin community. And it didn’t get implemented for a variety of reasons, namely that none of it really ever worked.
Vlad Costea (01:57:46):
Yeah. And also it was questionable to extend Bitcoin was scalable to do all that crazy shit.
American HODL (01:57:53):
Right. Yeah. When it’s expensive to do things on top of Bitcoin, because your idea has to actually have an economic merit and value because the chain is expensive. So if you’re going to put things on top of Bitcoin, then you better be making more money than you’re spending and transaction costs
Vlad Costea (01:58:14):
Brady at citizen Bitcoin and mr. Poopy Bitcoin, once, you know, how did you become such a bad ass? And also what’s it like to be a toxic bad-ass everyday when you wake up in the morning?
American HODL (01:58:34):
You know, I just, I have never given a fuck what other people think. And I still don’t and that’s, that’s where it all comes from.
Vlad Costea (01:58:45):
That’s what bad-ass means,
American HODL (01:58:48):
I guess, I guess, I guess I’m just, I’m just not afraid to say the thing that other people are thinking, but possibly not saying maybe deep, maybe Dieter Bob Dieter, Bob is thinking, but maybe other people are not, you know what I mean?
Vlad Costea (01:59:06):
Okay. Start out there. I hope he listens.
American HODL (01:59:16):
Oh, I bet he does.
Vlad Costea (01:59:19):
Is he a fan?
American HODL (01:59:21):
Hmm. I’m not sure. I’m not sure. I’m not sure. Dieter’s insane though. Like insane.
Vlad Costea (01:59:29):
I mean, I like him sometimes.
American HODL (01:59:32):
I like him too, but he goes after me almost, you know, he goes after everybody, like for no reason, a lot of the time and he’ll take like a width of shitcoin or just a width and turn it into a, he’ll build a mountain out of a mole Hill, you know, and make it a full blown federal case where he’s all up your ass. Like if you said, if you said the technology behind ZK Snarks look interesting, he would be all up your ass and be like, you fucking shit pointer. It’s hilarious.
Vlad Costea (02:00:10):
And he has that avatar of a small dog,
American HODL (02:00:14):
Right? Small, small attack dog.
Vlad Costea (02:00:17):
So who is the most toxic member of Bitcoin Twitter? This is a question by MF HODL,
American HODL (02:00:23):
But that’s Dieter for sure.
Vlad Costea (02:00:26):
He is the most toxic
American HODL (02:00:28):
Yeah, a hundred percent.
Vlad Costea (02:00:31):
We just have like three more questions. When will you build your first Bitcoin based business? This is from professor Hass,
American HODL (02:00:41):
Right? Yeah. This is going to be called the 6.15 club. And it’s going to be four gentlemen of leisure and a big titty bitches that accompany them into the club.
Vlad Costea (02:00:52):
So how does that function as a business?
American HODL (02:00:55):
Well, you’re going to have, what you’re going to have to do is sign a transaction, showing that you have 6.15 Bitcoin and a, or you’re going to have to show up at the front door with huge debts. And those are the two ways.
Vlad Costea (02:01:09):
So how are you going to make money out of this?
American HODL (02:01:14):
Vlad Costea (02:01:17):
Sounds interesting. I’m not going to mark questions because probably only five of 6.15 Bitcoins, but okay.
American HODL (02:01:26):
You know what? You can come as my honored guest lab. But only if you like big titty bitches, if you don’t, you’re going to have to stay home. I mean, what’s nuts like about that.
Vlad Costea (02:01:43):
It’s like the young game when I was a teenager, that, that was like the ultimate fantasy
American HODL (02:01:52):
Personally. I’m more of like a good B cup, like just, you know, perfect. But it was just something that I noticed that the big titty women that they like a man was 6.15 Bitcoin.
Vlad Costea (02:02:07):
I mean people at 6.15 Bitcoin are irresistible.
American HODL (02:02:12):
That’s true. That’s true.
Vlad Costea (02:02:15):
Presents some kind of charisma that is hard to describe. It’s always some kind of aura around you, which glow is all the time. When you have 6.15 Bitcoins.
American HODL (02:02:27):
That’s right. That’s right. Well, cause you know, it’s like with a Lamborghini, when a girl sees the Lamborghini, just thinking to her, you know, maybe me and my offspring could ride in his Guinea with them. But when a girl sees you guys, 6.15 Bitcoin, she’s like, maybe me and my offspring could pull Mars. You know what I mean? Which is a lot better.
Vlad Costea (02:02:49):
That’s brilliant. And that’s, I mean, you should not underestimate the big bitches. They get it. They see the potential
American HODL (02:03:03):
It’s so ad so funny. When you, when I hear you say big tip pitches in your accent, it makes me, it makes me laugh.
Vlad Costea (02:03:11):
I should say more often than, I mean, it’s not very easy to pronounce. It was like big titty bitches. So many,
American HODL (02:03:25):
I think it’s fair. Yeah. As a native English speaker, I think it’s very easy, big titty bitches, bro. It just rolls right off the tongue. Okay.
Vlad Costea (02:03:39):
I’m not going to argue with you or against you. I wouldn’t mind some big titty bitches and I guess I will have to label this episode as explicit when I upload it. So it doesn’t get banned by iTunes.
American HODL (02:03:58):
That’s fucking hilarious.
Vlad Costea (02:04:00):
But I guess people will listen no matter what.
American HODL (02:04:04):
Oh yeah. Bitcoiners don’t give a fuck. Bitcoiners are like, yeah, whatever, man. Even if they don’t agree with what I’m saying and they think I’m like, you know, an asshole for saying it, they’ll still be like, Hey, fuck it.
Vlad Costea (02:04:19):
They’re going to be like, Oh, this guy made it. I should stack more sats.
American HODL (02:04:23):
I hope that’s what they, well, you know, part of the reason why I do my sat stacking. So publicly is because, you know, it’s one thing to want to do to want to create FOMO amongst your no coiner friends. But it’s another thing to want to create FOMO amongst rabid Bitcoiners. You know what I mean? Cause I know the Bitcoiners are gonna stack it harder and I know it’s going to be it’s more, it’s more trustworthy and they’re in their capable hands. You know, I’d rather the Bitcoiners have it than the no corners.
Vlad Costea (02:04:54):
Yeah. Maybe sometimes I get jealous when I watched your stack stats and I say, okay, this guy is stacking so many sets and I have to wait until payday. And maybe that half of my pay is going to be stacked. Maybe if I get lucky and I eat mom’s food for a month,
American HODL (02:05:14):
Hey, that’s, that’s good though, man. There’s always some sort of jealousy going on in Bitcoin. As long as it doesn’t turn into envy. I think jealousy is a very helpful emotion. Because jealousy is basically, I want what you have, which is how healthy, because it might, it might propel you to get what I have, you know, to work harder and to get more. But envy is, I want what you have so badly that I don’t want you to have it. I’m going to take it away from you. That’s what we see with socialist. Brazilian regimes are all built on the feeling of envy.
Vlad Costea (02:05:50):
Yeah. And that feeling of entitlement that they should deserve jail
American HODL (02:05:57):
Jealousy is, is helpful. You know, I like jealousy, you know, I get jealous of other people all the time and it motivates me to work harder.
Vlad Costea (02:06:04):
Exactly. And it’s like something that makes you competitive and makes you want to become better. Right. Alfie. And by the way, since we started talking, I have stacked 8,000 SATs by playing.
American HODL (02:06:19):
Oh yeah, yeah.
Vlad Costea (02:06:21):
There’s this Mario game on Satoshi’s games. And it just helps me focus when I talk and do podcasts, I just play this. And if I managed to save Satoshi was like the replacement for princess peach. Then I get the SATs. I mean the coins, which I collected along the game and I seem to have gotten very good. I should participate Mario tournament’s or something because I keep on winning and stacking more stats.
American HODL (02:06:50):
Tell me how many sites I should stack right now. I’m going to stack them.
Vlad Costea (02:06:53):
So you’re going to stack some SAS during this podcast.
American HODL (02:06:56):
Yeah. You tell me how much, how many sad should I go for?
Vlad Costea (02:07:00):
You should go for 3 million just because HODL on that said so.
American HODL (02:07:05):
Okay. So that’s like 300 bucks right now.
Vlad Costea (02:07:08):
I’m not going to make you spend too much money, but a lot I can eat for a month with that.
American HODL (02:07:16):
All right. 303 million. Let’s say confirming, oftentimes cash app is like, nah, you’ve stacked it too hard. Boom. There we go. Just got 3 million more. That’s 3 million more you motherfuckers are never going to get, those are mine. Now.
Vlad Costea (02:07:33):
They were up for grabs.
American HODL (02:07:36):
Now I’m going to post on Twitter and be like, just stack these during a podcast of glass.
Vlad Costea (02:07:41):
Yeah, you should. That’s a great way to do sing the episode and I guess, and publish it as fast as I can. It’s possibly the longest podcast that I have ever done. I’m not sure for how long we have spoken, but it didn’t feel like long.
American HODL (02:07:57):
No, I felt like it went really quick. Although I haven’t even launched. I’m getting super fucking hungry,
Vlad Costea (02:08:06):
Alfred Hitchcock quotes. And I know that you’re into cinema, but he said that films should be just as long as the human blathered can take it.
American HODL (02:08:16):
Yeah. I Hitchcock has this amazing quote that he calls a refrigerator moment. So like when you’re watching a film and something doesn’t quite make sense, but you just go with it, you know, because you’re, you’re suspended in the you know, in the world of the film. And then later at night when you’re making yourself a sandwich at the refrigerator, you just go, huh? That didn’t make any fucking sense. That’s it? That’s a refrigerator moment. And I always think about that one.
Vlad Costea (02:08:50):
So we should end this by referring to the refrigerator moments in Bitcoin.
American HODL (02:08:57):
Was there a one or what is the refrigerator moment in Bitcoin? Let me think about that. Like the moment where you go, huh? That doesn’t make any sense. I’ll tell you. I’ve had refrigerator moments about the federal reserve. A lot of the since I got into this, but about Bitcoins architecture itself or the system itself I haven’t really had any, everything makes a lot of sense. I think it’s a very elegant system.
Vlad Costea (02:09:28):
I have a lot of sour moments about Bitcoin. Like I just stopped and I just stay too much in the shower. Not because I masturbate, but because I think about Bitcoin,
American HODL (02:09:45):
Well, have you started thinking about big titty bitches, then you can start masturbating in the shower and that’s how we should end this podcast.
Vlad Costea (02:09:54):
My think about when I can just add one,
American HODL (02:10:00):
You know what? You just need to stack it harder. Get your 6.15 and then you’re good, man. They’ll just come to you. You don’t even have to go out looking for it for them. You know,
Vlad Costea (02:10:16):
There, we got a knock on my door and be like, I heard you have 6.1, five Bitcoins.
American HODL (02:10:21):
And then that’s when they show up at your door in a towel. And then when you say, yeah, I do it. Then they just drop the towel, sir.
Vlad Costea (02:10:32):
Yeah, somebody was, somebody was asking
American HODL (02:10:34):
Me, what is the 6.1, five, eight point? What does that get women? And I said, here’s what it gets you. It gets you a ripped husband with abs who always does the dishes. Who’s super supportive. Who listens to all your stories, who knows the names of your friends. It also gets you a gay best friend to go shopping with. And it gets you the ruin and destruction of every bitch that ever crossed you. That’s what? 6.51, one five Bitcoin gets you as a woman. Yeah. There’s something, there’s something for everybody in 6.1, five Bitcoin.
Vlad Costea (02:11:10):
I feel like this is unfair. It just yet it’s but they get like a whole excellent way of living.
American HODL (02:11:18):
Oh dude. Yeah. It’s always unfair, but you know what? I’ll take the TEDS women, all women always get the better deal, you know,
Vlad Costea (02:11:39):
Way too much fun doing this.
American HODL (02:11:41):
Hmm. I like this one. We’ll have to do another one in like a like six months or something,
Vlad Costea (02:11:46):
Sir. I hope by then you’ll have a story about the double of 6.15, which probably let’s do a nice piece of ass too,
American HODL (02:11:59):
For anybody who’s listening. That story I told where I said I had a hundred Bitcoin back in 2015. I never, that’s not true. I’ve only ever had 6.15 Bitcoin.
Vlad Costea (02:12:10):
And that’s the most you can have.
American HODL (02:12:12):
That’s the theoretical max. Any more than that, you’d just be an ingredient asshole. You know,
Vlad Costea (02:12:18):
That’s a fair amount, right?
American HODL (02:12:21):
Yeah. I mean it’s like 60, 60 cab. That’s good. You could add Corvette with that. You know, not that you should buy Bitcoins.
Vlad Costea (02:12:34):
I think cars are the worst kind of investment.
American HODL (02:12:37):
Oh yeah, totally.
Vlad Costea (02:12:40):
Unless they’re collectibles, but if they’re brand new and manufactured, like they’re not made by hand and they’re made in mass production and they’re not going to have any kind of value.
American HODL (02:12:52):
Even if collectable, you’re not going to be able to drive them on the main roads and in a couple of decades. So what’s the point, you know,
Vlad Costea (02:13:02):
Possibly. Yeah. But to go and museums and stuff. And I guess there was about Bitcoin being the model T of cryptocurrencies
American HODL (02:13:14):
81, people would say that
Vlad Costea (02:13:16):
It was a fun story in 2017 when everybody was forking Bitcoin to increase the block size and possibly have faster confirmations and say, we have solved scalability and there is no way Bitcoin can do this.
American HODL (02:13:32):
No, that happened actually well before 2017, I heard people pitching that narrative in 2015 and the way they would say it is, they would say, you know, it’s always the third competitor that survives, right? Like the first one breaches new territory. And, but then gets a lot of arrows and it’s back the second one, doesn’t get it quite right. And then the third one learns the mistakes of the first two and, and thrives, you know? And they were, they were all pitching their stuff as the Facebook. Remember when people were saying that Bitcoin was the MySpace of cryptocurrency, you remember that? Yeah, that, that pissed me off so bad because it’s like, Hey, you fucking idiots. Toshi is one of the world’s preeminent geniuses. And he was thinking a hundred years ahead of the rest of us. Okay. He’s not just some asshole with an ICO. Like the system architecture Bitcoin is so elegant and amazing that I don’t know how it can be improved upon, in fact, the world’s best and brightest. Just go into Bitcoin and try and make Bitcoin better rather than, you know, starting their own shit coin. So when I would hear people say that I would be like either, you know, you’re too dumb. You’re, you’re basically too dumb to know what’s going on. And if you are, you shouldn’t even be at this table, you know?
Vlad Costea (02:14:55):
Yeah. Well, let’s send it with this very thoughtful note
American HODL (02:15:01):
Instead of just random, big titty bitch tack
Vlad Costea (02:15:05):
It proves that we have brains and we can actually do arguments. That makes sense.
American HODL (02:15:13):
Somebody is going to take this meme one of these days and they’re going to be like, they’re gonna be like, Oh, Bitcoiners, think women just are going to give them sex.
Vlad Costea (02:15:24):
Where’s there’s such a bunch of misses
American HODL (02:15:25):
Assholes. And all the women are going to be like, wait, did these guys really have 6.15? Pick one? Because if so, I’m in, I am in where do I sign up
Vlad Costea (02:15:36):
Ladies? My phone number is
American HODL (02:15:42):
Alright, brother. Hey, it was great talking to you, Matt. I’m going to let you go so I can go eat my lunch.
Vlad Costea (02:15:46):
Likewise. I have been setting around and I feel like I should stretch.
American HODL (02:15:52):
I know. I know. Right. All right, man.
Vlad Costea (02:15:57):
Talk to you later and I’m going to pose this possibly in a few hours.
American HODL (02:16:02):
Fuck. Yeah, it was great. Hey, it was great talking to you. I love the work you’re doing. Thanks.
Vlad Costea (02:16:11):
I tried to find a purpose in this space and it’s a privilege to be able to work for something which is noble and it’s intense and also pays you. I mean, okay. Why not?
American HODL (02:16:23):
Totally. And I appreciate that. You’re not going the crypto route. I appreciate you doing it the right way. Maybe there’s a donation of 6.15 Bitcoin in your future. If you keep it up, I’m just saying, I’m not saying, but I’m just saying.
Vlad Costea (02:16:39):
So if there are any donations which are made to this show, I guess you don’t want to get half of the Bitcoins because you’re rich already. You have six points, but they’re not.
American HODL (02:16:50):
You take whatever comes in.
Vlad Costea (02:16:52):
No, I’m going to give them to the cause of Russell breath because he needs without him. Basically. Maybe that we wouldn’t be here today.
American HODL (02:17:03):
Yeah. Unfortunately Ross is fucked. I mean, they’re never going to let him out of that cage. They have a man, unless you know, we all gained power in our late forties, early fifties. And we were able to make sure it happens. I would like to see him freed, but I don’t, I don’t think there’s much of a chance.
Vlad Costea (02:17:24):
Maybe. I don’t know.
American HODL (02:17:27):
I think they should. Everybody should keep fighting the good fight, but I feel bad for Ross. It makes me really sad. Like that Twitter account that tweets this stuff from prison, man, that shit makes me sad. It makes me really sad,
Vlad Costea (02:17:45):
Whatever amount I’m going to get by donation, hypothetically, because I never really get any is going to go through.
American HODL (02:17:54):
I know. Right. Bitcoiners are too frugal. They won’t, they won’t, they won’t give you any money.
Vlad Costea (02:17:59):
Yeah. That’s why he made a Patrion where he can donate $1.
American HODL (02:18:05):
You know what? I’m going to donate. Okay. Gonna go do it right after I eat this steak.
Vlad Costea (02:18:16):
I have basically ticked all the boxes or being a Bitcoin maximalist. You ended exactly.
American HODL (02:18:23):
I’m actually going to eat a steak salad. So it’s a little gay. Alright. But Hey, try to watch my girlish figure here. Okay.
Vlad Costea (02:18:33):
At least you’re not talking about going to sit your gun at the range. Maybe a couple of hours.
American HODL (02:18:40):
Well, I do own a lot of guns lab. Okay. Quite a few. Quite a few. All right, brother. It was great talking to you, man. Talk to you later. Bye.