The Bitcoiners Won | Animal Spirits 386

Mike repeats 30% of his takes and jokes between podcasts :(

Bitcoin just this past week overtook Meta, silver, the swf of Norway, Saudi Aramaco, and the Vanguard total market ETF. The Bitcoiners doubts about the dollar, or any fiat currency, is absolutely not a random glass half empty deal. It is facts. Put an inflation calculator on your phone and play with it. Debasement is real. Unstoppable. And accelerating. Publicly traded companies with large cash positions who ignore shareholder demands that some of the cash be converted to BTC will be sued for fiduciary breach. Pay attention to the MSFT vote on 12/10.

Ben, selling at 100k will be robbery from your children.

Bitcoin is a momentum play 15 years in the making , as gold is a momentum play 5000 years in the making.

Mad respect, boys. Great content, always.

Get orange pilled. For real.

BTC is the 7th most valuable liquid asset on earth.

Game theory adoption is underway at a global scale.

30 year investor. And I too scoffed. Until I didn't. Finished my BTC education in 2022. Waited for the ETFs. On January 11th I placed my bet.

It is early.

Meat you cook in a liquid - sous vide?

Recommendation: The Substance (only watch in the cinema)

Couldn't agree more with the small house thing. As someone starting out after getting married, maybe one kid, or even living single, Nobody in their right mind wants a 4 bedroom house that is way too big to clean and keep up.

It was way more than just a messaging problem!

Bitcoin is the biggest mass delusion in human history!

Justin timberlake is a bit salty about bitcoin while Vin Diesel is just cool. Anyway you should probably sell at 400k bitcoin not 100k

Democrats don´t take the victory lap because their discourse is that of victimization, so success and victimization would be contradictory.

Why not just pay taxes ?

Great analogy re:election messaging (guy who throws the punch gets the flag)

The message doesn’t matter when there’s a flat messenger

How much of people's feeling that the economy is bad comes down to them just being very upset that they no longer get stimulus checks?

Dissatisfied and angry because they're being told to be dissatisfied and angry

I think taking a victory lap or telling the positive story would have actually made the situation worse. It would come off as gaslighting and out of touch to people that are angry about how things are. There isn't anything Harris could have said to convince people that things are good

Joe Biden has Alzheimers. If he didn't the Democrats would have won

With all due respect, if you didn't take the Afghanistan withdrawal into the equation I don't know what to tell you. The Afghan withdrawal was emblematic of this current admin imo. It's not that it was done (everyone supported & wanted it), its how it was done. Its like paying to fix the car you wrecked, taking credit for fixing it, & telling the wife it was for her birthday.

Can we get better moderation on all the telegram crypto scams people comment on these videos?

Immigration… that was the issue… everything else is secondary

Michael and Ben your bias is absurd. How can you not look at real wage growth under Trump vs Biden. Also do you just completely put blinders on when looking at the push from other nations to de dollarize? How about govt spending as a share of GDP?

Hahaahahahahahah. Im with you Mike (i was yelling at myself so much for not recognizing the disatisfaction voters had)

Shocking that Ben agrees with the “non-partisan” that shares his economic world view lmao. It turns out that aggregate level employment data and wage gains relative to your preferred measure doesn’t translate to people’s individual circumstances. To think that people feel the way they do about the economy is because of political messaging, or lack thereof, and not people’s individual real world experience is delusional.

Cullen is right about the pulse of the people. But the people are wrong. Empirically wrong. Relatively wrong (from a global standpoint). Institutionally wrong (how even corporations are actually behaving). Wrong. Wrong. Wrong.

Ppl are waking up

you guys are wrong on the economy. I run a business that touches many aspects of the economy. It has been as bad as the GFC. The overall numbers did not look bad and we did not enter a "recession" because the gov overspent. They make up 1/3rd of the GDP. We will get the recession later.

Wish I could make it to the Chicago event, hope to make it to the next one

Great content, as always! Just a quick off-topic question: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). How can I transfer them to Binance?

While all the economic numbers look strong, it does not affect everyone the same. If you take a median number remember that half of the population is below that number. There are some people whose income did not rise with inflation. There are some people who can't afford housing rising or the cost of food going up. Average and medians do not apply equally to everyone. People that did not rise with the economy or were adversely affected by Covid and inflation probably did not vote for Harris. Think small business. Mag 7 did great. How many small businesses did not. Higher interest rates on their loans, high inflation on supplies, rising wages needing to be paid to their employees. Not all these people are wrong that things are not better for them.

michael was talking in circles in the beginning. one moment saying that telling everyone inflation is under control is not convincing to people who see prices jacked up, and then says the dems should have touted how everything is good

This is a different cycle for BTC than in years past…the adoption rate is too high and tipping point has been reached. The perpetual bid is here as the asset class is given full institutional, government and regulatory support domestically and globally

😂😂😂 operation warp speed was not successful

You guys can claim the Bitcoiners won but claiming that just proves yall are sheep who follow the crowd. If Bitcoin has value just bc other people say it does sure but thats is NOT fundamental value. As long as I live, until proven the true utility or until it produces cash flows Bitcoin is NOT an investment. Its the same as saying Beanie Babies have value bc other people oeople say it does. Cmom bro, gotta draw the line on the shananigans somewhere or you'll believe anything the internet feeds you

both are called Fondue. the meat one that you tip into a boiling pot is called Fondue, and the cheese one is called cheese Fondue.

I think Saylor is inspiring the way a lot of people think Buffett is. The gains following his lead have been insane

Watched Anora on the rec from Michael last week and he was right. It should win some awards, idk which ones, but it was fantastic.

It was pretty obvious trump was gonna win only reason I didn’t bet was cause last election was rigged look at the voter numbers almost 20 mill “voters” magically appeared in 2020 and this year after 10 million plus immigrants flooded the country they still couldn’t hit those numbers 😂

My view is that independents overwhelmingly chose Trump because Biden's immigration was literal insanity. The people who disagree did not experience it to the same degree. Simple as that.

come on BEN... come on..

Ben it was THE WORST.. the WORST 4 years. the optics looked terrible. biden looked terrible. kamala didn't have a good message. coffee went up 75% and food is outrageous. Boys in girls bathrooms and SPORTS is a no go. its a no brainer if you just WALK around outside the northeast.

i take larry david's view on the whole veteran thing. it's nice to meet them.

Bitcoin is a Tulip!!! A digital Tulip!!! And don't say this time it's different.

Bitcoin is today’s equivalent of the Dutch Tulip bubble.

Ben I was disappointed in the election results too. Im glad to see you are a reasonable person

As RIA’S, it’s no surprise they think the result of the election was mostly about the economy. Get out of your bubble and see that the economy was not in the top 3 concerns for most voters. Plus, you’ve said it on countless previous podcasts, the president doesn’t have that much influence over the economy. Voters showed up because of the border insecurity under Biden/Harris, woke priorities, foreign policy, etc

I prefer when you don’t talk politics to be honest. First show I can’t get through.

When you buy a share in a company, you have an underlying asset that generates revenue, and income; when you buy Bitcoin you are simply hoping someone dumber than you will pay more for it than you did. It generates nothing and is 100% speculative.
You can think of it as a currency, but so far there is no ability to actually use it, the way one would a $20 dollar bill at a gas station or restaurant. Maybe things will change, in the future, but I don't see governments wanting to give up control of their national currency. I am therefore immediately suspicious of anyone promoting Bitcoin and see them as a huckster, selling snake-oil.

I appreciate your comments on Bitcoin. I have zero intention to ever buy any, but I like to understand why other people want to have it.

When Biden comes back from his holiday he should repeal all tariffs and except for military equipment do free trade with every other Nation . That could be part of his legacy and contribution to our economy. 😃😃😃😃