One Way Ratchet

Dan and Trent break down:Trent's quick hit to VegasGearing up for Sphere shows Recent Bitcoin price volatility and sentimentReminder to zoom out and take the long view.Don't be tricked or distracted by short-term price movements. They are designed to shake the confidence of inexperiences retail investors.Zoom out and chillCase in point: look at price on the day of the 4 Bitcoin Halvings:2012: $122016: $6502020: $86002024: $65,000Notice any patternThis is true not just of Bitcoin but of life: block out the day to day volatility and take the log view. Song of day: Hot in Herrre by Nelly

Dan and Trent break down recent events, the Halving, the current Phish shows at the Sphere, and what we can expect when we see Dead & Co at the Sphere in May. First U2, now Phish are creating all kinds of magic and are redefining the live music experience and testing boundaries of full immersion multimedia performances.Trent joins from car in this spirited discussion. Spirits are very high for Vegas.

First pod for Greg and Dan in a while, they cover a broad range of topics through the Bitcoin lens and why Bitcoin truly is a one way ratchet.

Trent and Dan break down:Dan's travelsDigital nomad lifeBitcoin's role in shaping nomadic worldviewOur mutual love for LondonEnglish soccer Valuing what matters mostThe value of travel and the perspective if gives you Recent updates in Bitcoin:ETFs continue to exceed all expectations. By bar biggest launch in history of ETFsNext Bitcoin halving only 2 weeks awayToday's song: London Calling by The Clash

I this episode, Dan and Trent take this pod international and break down the exciting developments in El Salvador. El Salvador is first country to fully embrace BitcoinMade Bitcoin legal tenderAccumulating Bitcoin for its national treasury Mining Bitcoin with 100% renewable abundant geothermal energy from its volcano Issuing bonds backed by its Bitcoin mining operations to fun development projects Less than 3 years and its already a massive successAlready $100m in profit on BitcoinEconomy is flourishingBitcoin businesses and tourism are flocking to El SalvadorCrime down dramaticallyEl Salvador is boot-strapping its own wealth and prosperity. Self-sovereignty and independence. Weening itself off of an endless cycle of extractive IMF loansEl Salvador is doing on a national level what Michael Saylor is doing on a company-levelShowing the world what happens when a country fully embraces BitcoinOther countries are taking noticeEl Salvador is the first, but more and more countries will follow the playbookIn the end, every rational actor (person, company, country) will accumulate BitcoinSong of the day: Lawyers, Guns & Money by Warren Zevon

On episode 2 of our deep dive down the Grateful Dead rabbit hole, Trent and Dan get into:Our own discovery and love of the Grateful DeadNavigating the post-Jerry music landscapeReconnecting with the Grateful Dead universe in Northern CaliforniaEager anticipation for seeing Dead & Co at the Sphere in Vegas Memorial Day weekend

New channel - LFG!Welcome to One Way Ratchet: Music. We move beyond Bitcoin and launch a deep dive on a mutual passion, the music of the Grateful Dead and its current incarnation as Dead & Company.We get into the music, what it means to us, the live experience and much more. We look back at the Final Tour and the big announcement of their upcoming residency at the Sphere in Vegas.So tune in, turn out and make yourselves easy.

Dan and Trent break down the timeless wisdom that you are never too late. Bitcoin price pumpingRelentless buying from ETFsSeeing what happens when demand grows and supply is so limitedPrice near all-time highs, is it too late?The more you understand Bitcoin you come to realize you are never too lateZoom out - look at the price of Bitcoin on Leap Day over timeTechnology adoption curve, we are still at the very beginning before mass adoptionBecause supply is fixed at 21M, you are simply betting on continued global adoptionAnd with the massive success of the ETF launch, that adoption is undeniableBut much more than Bitcoin, you are never too late to do anything that is important to youWhat do you want to do with your life?Song of day: Can't You Hear Me Knocking by The Rolling Stones

Trent and Dan break down the timeless wisdom of "stay humble and stack sats" and how it applies to everything in life.Quick recap of ETF launch: biggest launch in history. Wildly bullishSuper Bowl: no crypto adsSuch a difference from 2 years ago with all the silly crypto adsIndustry today on much more solid foundation"Stay humble and stack sats" comes from amazing og Bitcoiner Matt OdellHas become guiding principal for both Bitcoin and lifeStay humbleLive within your means. Spend less than you makeBe open to new ideas. Leave preconceptions and ego at the doorDon't trade Bitcoin. Don't trade shitcoins. Don't use leverageStack satsJust keep building your stackLittle by little over time, anyone can do it. One step at a timeStacking is work, which lies at the very heart of BitcoinApplies equally to any important goal in your lifeTodays songs (we each have a song today):HUMBLE. by Kendrick LamarBrick House by Commodores

In this episode, Dan reflects on the Bitcoin, wealth and purpose.The episode is based on this amazing post by @stackholder"Bitcoin isn't true wealth. True wealth is your health, the time you spend with your family, the experiences you enjoy with friends, peace of mind for you and your loved ones, and daily purpose."

This week Dan gets into:Yes, more ETF news!Current leaderboardAnother new ETF - but this time in Hong Kong?Just 2.5 years after China Mining BanNow China embracing Bitcoin ETFs and hashrate at all-time highsGood news from FTX brankruptcyCreditors being made (kinda) wholeRecent Bitcoin transaction show how unstoppable the Bitcoin protocol isNew challenge: 100 pushups a day until Bitcoin above $100kNot gonna lie, this is going to be tough but I'm going to give it a shot. LFG

(We had audio issues so this one is late)Dan and Greg on the night the ETFs are finally approved!Mild disbeliefBlackRock and JPMorgan's involvementStill on the flat part of the curve Cycle theory - will returns increase or decrease vs previous cyclesAs likely we miss to the upside as the downsideWhere we go from hereAll you have to do is holdClever ETF ticker symbols Changing people's minds ESG layoffs at BlackRockLeave your ego behind

Dan and Trent look at ETF launch and other current events.Road TripsETF launchHuge milestone - the bridge to crossing the chasm to mainstream adoptionLack of mainstream awarenessParallels to collapse of FTXRock Opera of day: Gamehendge by Phish

A little late this week. Dan gets into:ETF race is offLeaderboardRecent price actionHow Bitcoin miners helped Texas deal with cold snap

Bitcoin news week of Jan 12 2023.Today Dan breaks down the big big news of ETF launch:All 11 ETFs approved and started trading Thursday Jan 11The race is on!The amount of buying pressure will increase dramatically.The world is going to learn what happens when exponentially increasing demand meets exponentially decreasing supplyBut it will take years to play out.Think long term

Trent and Dan kick off the new year:New Year vibesFlorida ManIdea of starting before you are ready. You are never too late to do something importantTaking risks and living outside of one’s comfort zoneLooking back at 2023 and reflect on impact of Sam Bankman-Fried and FTXBlackRock filing for ETF turning point of yearPrice up almost 3x this year and now at precipice of ETF launchLessons learned on starting the pod and sticking to itNew year’s resolution: no resolutions. Just focus on what matters mostExcited for the year and pods to comeSong of day: Us v. Them by LCD Soundsystem

Dan kicks off the new year:Happy new yearETF approval imminentImpact on price? We don’t know. DCA and chillWealth advisor surveyOnly 39% expect an ETF approval this year88% saw ETF approval as a major catalystOnly 19% currently have ability to buy BTC on behalf of clientsTakeaway: Still. So. Early.US debt now over $34 trillion dollars and it is not stoppingMeans continued money printing so stack BTC and chill

This week Dan wraps up the last Weekly Ratchet of 2023:ETFs look ready to be approved by Jan 10MicroStrategy buys another 14,600 BitcoinThey are close to owning 1% of all of the Bitcoin that will ever existNew pro-crypto PAC called Fair ShakeThe Bitcoin lobby will become an incredibly powerful voting block going forward, and it crosses party linesNigeria reverses ban on Bitcoin and cryptoAnother example of how unstoppable Bitcoin isQuick look ahead to 2024 - its going to be an exciting year!

Normally we (ok, Dan) writes the show notes after each episode, but our pod recording platform just added automated AI-generated show notes. Holy crap. It took the AI about 30 seconds to scan the entire episode and compose this summary and notes. To think we are just at the very beginning of AI.---------------SummaryIn this conversation, Trent and Dan discuss various topics related to art, politics, and the potential for conflict. They explore the absurdity of modern art and the celebration of fiat at events like Art Basel. They also discuss the movie 'Civil War' and the potential for a civil war in the United States. The conversation touches on the role of Bitcoin as an insurance policy and a unifying issue in a divided political landscape. They also highlight Bitcoin's ability to thrive in chaotic times and its potential as a hedge against financial instability. In this episode, Dan and Trent explore the various topics that intersect with Bitcoin, making it a fascinating subject. They discuss the stability of Bitcoin and how it remains a constant presence amidst upheaval and change. Trent shares his excitement for reading during the upcoming vacation time, emphasizing the joy and benefits of immersing oneself in a book. They also touch on the wisdom passed down by elders and the importance of listening to their advice. The episode concludes with a discussion about the freedom and liberating experience of going off script in their conversations.Takeaways* Bitcoin is a topic that intersects with various other subjects, making it an interesting and multidimensional subject of discussion.* Bitcoin provides stability and acts as a constant presence amidst upheaval and change.* Reading is a valuable and enjoyable activity that allows for relaxation and personal growth.* Listening to the wisdom of elders can provide valuable insights and guidance.* Going off script in conversations can lead to liberating and engaging discussions.Chapters00:00 Introduction and Setting the Stage03:02 Art Basel and the Celebration of Fiat08:13 The Absurdity of Modern Art12:28 Miami's Opulence and the End of Empire16:22 The Movie 'Civil War' and the Potential for Conflict21:08 Bitcoin as an Insurance Policy23:19 Bitcoin as a Unifying Issue25:53 The Political Divide and Bitcoin28:31 Bitcoin Thriving in Chaos31:08 Bitcoin as a Hedge in Chaotic Times35:14 Philip Roth and Bitcoin37:47 Bitcoin's Ability to Send Value Anywhere38:34 Bitcoin as a Nexus of Topics39:26 The Stability of Bitcoin40:03 Upheaval and Change40:42 What's on Your Radar?41:33 The Joy of Reading42:54 Wisdom from Elders44:26 The Freedom of Going Off Script---------------(We recorded the song separately.) Today’s song: Life Ain’t Fair and the World Is Mean by Sturgill Simpson

This week Dan gets into:the Most Interesting Man in the World supports BitcoinSenator Warren’s anti-crypto crusade introduces bill written by banking lobby trying to keep out competitionThey are coming after self-custody = all the more reason to learn about self custody. It has never been more importantThankfully its very very unlikely bill will pass in this Congress, but something to keep our eyes onMerry Christmas everyone!

This week Dan gets into:Flurry of activity around ETF applicationsGoogle updates ad policy to allow Bitcoin ETF ads in JanuaryConviction of longterm holders continues to make new all-time highs. Nobody is sellingAccounting rule change unlocks companies to finally start acquiring BitcoinEl Salvador writing the playbook for Bitcoin adoption for entire countries

Trent and Dan wrap up the 10 part series with a hopeful outlook for the world. Episode #10: Fix The Money, Fix The WorldHey we made it to #10!What have we learned from doing pods. Gratitude for friendship and actually doing themPods are their own one way ratchets. Just want to do more of themBitcoin is endlessly interestingSummation of the 10 part journey: in the end you get to the overwhelming conclusion that in the fiat system the money is broken and causes so many of the worlds problems.To fix those problems you need to fix the moneyThis is our one and only chance to separate money from the hands of governmentFiat world leads to a “deminishing portfolio of enthusiasms”In the fiat world you have to earn your money twice. With Bitcoin, your money just gets more and more valuable over time, not less. Gives people time back, time to spend with their families and think long term and build things of lasting valueDiscussion of Charlie Munger’s death and his thoughts on Bitcoin. Show me the incentives and I’ll show you the outcomeIn the end, Bitcoin is hopeA better money for a better worldToday’s song: Movin’ On Up by Primal ScreamThe live version absolutely slaps

Today Dan breaks down:Price is up! Yearly highWisdom of dollar cost averageBitcoin now bigger than Tesla, Facebook and Berkshire HathawayOnly 6 companies in world are bigger - for now. We are still are in the era when individual companies are still bigger than BitcoinOne day we will look back and laughJamie Dimon CEO of JPMorgan testimony at congress - where to even beginGood thing a good, upstanding bank like JPMorgan has never been involved in any illicit activities.Oh wait, turns out they have been involved in quite a few and paid over $39 BILLION in fines since 2000view list of all of their abuses and finesThis is why we Bitcoin

Dan and Trent discuss the nature of digital networks and human nature.Episode #9: Network EffectsMetcalf’s Law: the value of digital networks equal to the square of number of users. It is an exponential functionTechnology adoption curves. Start slow then once they gain critical mass they grow rapidly. Nature of S-curvesGradually, then suddenly. Perfectly describe network effects. Thankfully we are in the gradually phase of Bitcoin adoptionPace of technology adoption has accelerated in the digital ageCrossing the chasm. Moving beyond the initial 10% from early innovators to mass adoption. Social layer. Humans have a herd mentalityBitcoin is money and money is simply a shared idea that something has valueBitcoin is the ultimate network effect. We are only at ~1% real adoption globallyAnd unlike all other technologies, you received no economic benefit by being an early adopter. But Bitcoin incentives early adoption with massive returns to the people who join sooner that othersIts pure economic incentivesWhen Bitcoin becomes used more and more as a medium of exchange the network effects go parabolicBitcoin being purely digital and built on backs of internet, cellular and social media can scale infinitely to the worldToday’s song: Crossing the Rubicon by Bob Dylan

Dan and Trent do a judo move on this tired narrative. Episode #8: Bitcoin and EnergyIn person!Major issue for Bitcoin: the criticism it uses too much energy. One of the very first things people hear about BitcoinBitcoin is the honey badger: it gives no fucksWe are going to flip this narrative on its head. Topsy Turvey. Bitcoin uses a lot of energy and that is a very good thing for the world.Energy usage directly related to human flourishing and always hasWhy does Bitcoin use a lot of energy? Proof of workYou cannot get something from nothingBitcoin is antidote to Fiat systemProof of work imposes an unforgeable costliness on the production of Bitcoin. You cannot fake it.Why is this a good thing?Bitcoin incentives energy production, in particular renewablesRenewable energy is intermittent, Bitcoin is the best buyer the renewable industry has ever seenBitcoin mining is location-agnostic, it seeks out cheap and excess energy globallyRemoving methane from atmosphere (which is 80 times worse than CO2)Song of day: Beginning To See The Light by The Velvet Underground

This week Dan covers:ETF updates! Lots going on, its all positive. January 10 remains target date.Hash rate at new all-time high. Confidence in Bitcoin from the people who know most has never been higher.Going parabolicHalving update: we are 90% through current halving cycleNext halving in AprilPassing of Charlie Munger, absolute legendShow me the incentives, I'll show you the outcome

Quick hit today:A new hard-money president in ArgentinaBinance settlement The kids are all rightGratitude

Wow.Huge day for Argentina and the world.

Dan and Trent break down the importance of a long-term mindset in Bitcoin.Bitcoin price can be volatile over the short term, but over time the volatility is to the upsideIn past 13 years, Bitcoin has been by far the best performing asset class in 10 of the years, and in the other 3 it was the worst See chartIn previous cycles the halving has kicked off a massive bull run. Prices goes up a lot, but then corrects - each time to a much higher low. The floor keeps risingHalving cycles. Price at halving keep risingSee chartBig majority of Bitcoin held by strong hands with no intention of selling. The number of liquid coins is very low. This also drives large price movesIt all gets back to time preference and long term thinkingSo many people want get rich quick, to take a short cut, not a long term commitmentBitcoin is proof of work - and what you put into learning Bitcoin you will get so much more in returnBuilding anything of lasting value takes time and work - always has beenToday’s song: Good Times Bad Times by Led Zeppelin

Dan and Greg get into the Bitcoin Halvings, the true genius at the heart of Bitcoin's supply schedule.The next Halving is only 5 months away! So few people actually understand the Halvings and how they work - and their implications for Bitcoin price and adoptionGreg talking to friends about Halvings - the responses are enlighteningConclusion: we are so earlyHow does the Halving actually work?Bitcoin come into the world every day through miningEvery 10 minutes on average, a minor is awarded the block rewardThat block reward gets cut in half every 4 years (210,000 blocks)Started at 50, then 25, then 12.5 and the current block reward is 6.25 BTC awarded to a winning miner, ever 10 minutes on averageSee chart of HalvingsThe reduction in daily supply creates a supply shock every 4 years, which in turn leads to big increase in Bitcoin priceGenius of design choice. Heavily skewed to early days93% of Bitcoin already mined and in the word, the remaining 7% will be mined over the next 120 yearsConviction of Bitcoin holders at all-time highs - see chart The 3 Halvings so far have led to massive bull runs - see chartNobody knows if these cycles will continue, but we are not betting against themZoom out. Given dynamics of Halvings, price goes up over time. Day to day price movements are boing and meaningless

Today Dan breaks down:Bitcoin longterm holder conviction at all-time high - view chartSupply squeeze comingArgentina run-off election on SundayBitcoin v EV energy mix, guess which one use more renewable energy (by far)? - view graphBitcoin price hit a new all-time high this week - in TurkeyBitcoin price goes up when currency goes down

Dan and Trent get into security and why it is so important to learn about Bitcoin self custody.Episode #6: Not Your Keys Not Your BitcoinPeer to peer digital cash system with no trusted third party Bitcoin is like a giant spreadsheet in the sky. The private key is the password that lets the owner move their BitcoinThe Bitcoin network is permissionless. If you hold your own private keys, you can transact any amount of your Bitcoin with anyone in the world any time and nobody can stop youIf you don’t hold your own private key and keep your Bitcoin on an exchange, you don’t actually own Bitcoin. You have an IOU and hope they give you the Bitcoin one dayBitcoin transactions are nearly instant, final settlement and very low costBiggest ratchet moment of all: when you remove Bitcoin from an exchange and send to your own custody. You are actually using BitcoinNature of counterparty riskFTX blowup is the perfect example. People gave them billions of dollars to buy Bitcoin and at the end they had no BitcoinWith Bitcoin in your self custody you can safely secure your Bitcoin for generations with no counter party risk and no-one can take it from youTake the time to learn self custody. Anyone can. Its easy. Use best practicesToday’s song: Safe From Harm by Massive Attack

Dan and Trent break down one of the biggest misconceptions about Bitcoin.Episode 5: Bitcoin. Not Crypto. Not Blockchain. Bitcoin.One of the biggest obstacles for Bitcoin understanding is confusing Bitcoin with all the other cryptosBitcoin is simply non-government money for the digital world. Bitcoin is better money for a better world.Crypto is just more and more of the fiat system: printing money out of thin airVast majority of other cryptos are worthless. They have no value. Most are outright scamsEven worse are the ones that seem legitimate but are VC-backed pump and dumpsIf you hear about the hot new crypto it is too late, you are exit liquidity for insiders trying to sell at the topBitcoin’s essential value proposition of hard digital money for billions of people in the world is more than enoughAfrica and Bitcoin adoptionBitcoin for the billions, not for the billionairesTough to understand all of this in beginning. Alt coins may outperform for a short time, but in the long run everything goes to zero against BitcoinToday’s song: Row Jimmy by the Grateful Dead

This week Dan covers:Justice prevails: Sam Bankman-Friend in jail, possibly for rest of his lifeWhy are his parents not facing charges? They appear to be heavily involvedAre politicians giving "donations" (stolen money) back??US just surpassed over $1 TRILLION in interest payments this year alone, and rising every dayETF updatesAll 12 ETFs could issue soonBlackRock files for Ethereum ETF, seems like they must know somethingLending coming to ETFsPerspective on where we are in cycle2 year anniversary of last all-time highComing out of worst bear market in Bicoin historyHad you started DCA at the all-time high and continued through the bear market, you would be up 40%

Dan and Trent break down a very effective mental model for thinking about Bitcoin.Episode #4: Digital GoldBitcoin can be tough to explain“Digital Gold” is a very effective mental model. Elevator pitch for BitcoinWhy did gold emerge as the dominant monetary asset everywhere in the world Hard money humans cannot corrupt. Plus it is very durable and also divisibleGold worked as a store of value in the analog world, but we now live in digital ageDemographics: world becoming more and more digital every dayNow 8 billion people everywhere in the world can own digital goldThe countries with the fastest growth rates need it the mostIf all Bitcoin does is become digital gold, it is a 20x returnBut Bitcoin is actually 100 times better than gold, so it is not stopping there. Bitcoin will absorb value from every asset class in the worldToday’s song: Golden Years by David Bowie

In Part 3 of the series, Dan and Trent talk about how to protect yourself in a world of perpetual money printing and inflation. Episode 3: 21 Million ForeverHow to protect yourself in a world of forever more money and inflation? Buy and hold hard assets. The harder the betterHard asset = limited supply, you cannot make more of them easily or cheaplyWhat are some hard asset:Unique real estateFine art ideally from dead artistsSports teamsProblem is these are all out of reach. You cannot put $100 a week into the Dallas Cowboys. If you could we wouldSo what can you do?Here comes Bitcoin. The hardest asset in the world. That anyone can buy and holdOnly 21M will ever exist. Nobody can make moreA monetary system with a fixed supply for the digital age. That no humans can manipulate or inflate awayBitcoin is just code. Rules, but no rulersYou can buy any amount of Bitcoin. $20, $200 or $2 billionThe North Star of Bitcoin: there will forever be more and more dollars chasing 21 million BitcoinToday’s song: Hard to Handle by the Grateful Dead

In Part 2 of the series, Dan and Trent examine the impact of money printing.Episode 2: Inflation Is TheftIn Part 1 we looked at the Mo Money part of the equationPart 2 explores Mo ProblemsMoney printing bails politicians out of their terrible decisions. And we have to pay the costIt creates inflation. More units of money just cause prices of everything to go up. Your dollars can buy less and less all the timeInflation is theft. It makes you work harder and harder for less.Money printing is an insidious game. It impacts the people the most who can afford it the leastWhat else does it do? Drive up asset prices. And rich people own all the assetsThis is by design. Designed by the rich and powerfulThroughout time, there was very little inflation in places with no money printingSocieties flourished under a gold standard when governments could not print endlesslyToday's song: Mo Money Mo Problems by The Notorious B.I.G.

Dan and Trent launch 1st of 10 part series for people new to Bitcoin.Part 1: The Money PrinterMeet Trent!Brief intro into why we are doing thisMo Money Mo ProblemsBasic thesis statement: human beings with a money printer will use it - and never stopPicture if you had a money printer. Would you use it?Basic human incentives. Politicians never want to give up proximity to money machineMoney supply grown over 20x since 1971 - view chartWe used to be on a gold standard for hundred of year - and society flourishedEverything changed in 1971 when Nixon took US off the gold standardTodays's song: Mo Money Mo Problems by Notorious B.I.G.

This week Dan covers:Happy Birthday Bitcoin!Amazing how far we have comeWSJ issues correction, will Senator Warren?Major milestone: 93% of all Bitcoin that will ever exist have been minedThe remaining 7% will be mined over the next 120 YEARS!Increasing scarcity. Exponential demain. Not complicated.

In 3rd and final part, Dan gets into:Bitcoin ETFs will be including in countless portfolios, ETFs, mutual funds and new productsUnlocking a large steady flow of capital into BitcoinNew gold/BTC and treasuries/BTC hybrid products?But like evrything in life, no solutions only trade-offsBitcoin ETFs are not BitcoinETFs will be massively bullish to price of Bitcoin, but not necessarily to Bitcoin itselfSatoshi created Bitcoin exactly 15 years ago as a solution to problems of big traditional financeTaking real Bitcoin into your own self custody is the exit ramp from big banksBitcoin gives power to individuals, the ETFs give power to the big banksNo trusted third partiesOur one and only chance to separate money from the hands of government and control of the state

In part 2 Dan looks at:ETFs plug Bitcoin directly into every pension fund, endowment, sovereign wealth fund, high net worth and company buyerHow the ETF launch will change the narrative around BitcoinBlackRock, Fidelity and other companies will actively promote itESG critique dramatically reducedIncentive for wealth managers to allocate BTC boosts performance of every portfolioBTC is perfect asset for pension funds and endowmentsCompanies will begin to buy as well, take a page out of the Michael Saylor playbookAll models will be broken. ETFs open the largest pools of capital for the very first time, and available supply keeps getting cut in half

In this episode Dan gets into:Why the launch of Bitcoin spot ETFs will be so bullish long termBrief explanation of ETFs and how they workETFs will unlock so many access points to BitcoinEvery brokerage account people already have can access ETFsInstitutional custody solutions built right inReal Bitcoin in self custody is best, but that is not how we get to mass adoption ETFs will unlock trillions of dollars in retirement accountsETFs will also make Bitcoin inheritance planning much simpler Will enable people to borrow against their Bitcoin ETF or use as collateral

On this week's episode:Price pump - breakout above 32kBlackRock's ETF ticker leakAll-time high in holder confidenceCoins not movingThe Great Decoupling?Narrative shift underway

Dan and Greg discuss:Great college band nameThank you for birthday candle BitcoinSome thoughts on recent price movementBlockRock picks a ticker for its ETF - and its perfectWe are in final days of pre-ETF era. ETFs mark the beginning of the Wall Street era for BitcoinMoving from horse and buggy and dirt road economy to super highways and TeslasDoes Bitcoin need the ETFs to reach its potential?Reason why price pumps are so important. Price moves stimulate adoptionAll non-price Bitcoin metrics incredibly bullish regardless of priceNow factor in impact of money printing to fund 2 wars and hundreds of trillions of unfunded mandatesBTC is your insurance policy against continued mismanagement by governmentHearing from Bitcoin skeptics after price pumpsLooming hit to real estate market will spur a lot of interest in BTCMicrostrategy investment in the green. Just the beginning of companies holding BTC in treasuriesThe opportunity cost of every bad decision is priced in Bitcoin

Dan and Greg break it down:The fiat system funds perpetual warSince advent of central banking and money printing, war has become total - and endlessUnder the gold standard, wars still existed but they were much more limitedWant to defund war? Learn about BitcoinThe fiat system exists fund war, protect asset values and bail out every bad decision Bitcoin is a peaceful revolution against the financial systemIt took 200 years for the US to accumulate $500 billion in debt. We just borrowed more than that in the past 2 weeksTime preferenceTrue saving vs investingWhat the worst coaching decision in the history of sports can teach about about Bitcoin

On this week's pod:Update on ETF news. It's bullishHash rate at all-time highs. It's bullishSen Warren using crisis in Mideast to pursue her anti-crypto campaign.Could the next president of Argentina be a Bitcoiner?

Dan solo pod today. First installment of the Weekly Ratchet breakdown of top stories of the week. Today we get into:Updates on the Bitcoin spot ETFsWill SEC appeal ruling in Greyscale case (deadline within hours of pod)Updates on insanity of the SBF trial.Testimony from SBF's ex girlfriend confirm many suspicions about attempted price manipulation by FTXIncredible levels of US debt. 200 years worth of debt in 2 weeks.

Dan and Greg get personal. We discuss our own journeys into Bitcoin. What sparked our interestEarly doubtsKey ratchet moments along the wayLamenting we didn't buy more when we learned about it!!

Dan and Greg discuss:Horrors of seeing/hearing yourself on a podcastOrange pilling friendsAdvantages of dollar cost averaging (DCA) vs lump sumHolding Bitcoin on exchanges vs self custody

Dan and Greg on why we are doing this. Why BitcoinThe insanity of starting a podcastThe Bitcoin lens and what it means