Bringing Back The Bitcoin Bull Market | Cory Klippsten

30:03Because like, if you'd look at the past cycles, 2017, I always feel like that was when Bitcoin became a household name. Like certainly everyone did not understand Bitcoin, but I think most people had heard of Bitcoin at that point. And then you had sort of the 2020 COVID crash and then crazy stimulus, which kind of shoved inflation down everyone's throat for the first time. Everyone kind of woke up to that. Again, we had an influx of new people. And even 24, I guess we had this sort of ETF narrative, very different, way less cool, way less like punk rock Bitcoin. And I feel like now we're hanging out for one.

30:37Look, I think it's kind of back to basics. I think this is kind of the, I think the freedom narrative and the bulwark against tyranny, that's what motivated me. That's why in May we started planning for 50 Days for Freedom and the battle for monetary independence and all of this kind of came around. It's because there has been this rush of anti-freedom actions taken by governments in different places, often in collusion with private companies. you know it started with the social media ban for under 16s in the UK and then like the next day there was a VPN ban for Utah and then you know a couple days after that was like an announcement of you know the accelerated schedule for the Euro CBDC and then a few days after that was having to prove your ID that you're not a miner to use the LLMs in the US the Anthropic and OpenAI.

31:35And then you've got chat control in the EU that they jammed through after losing five times in a row when there was a full vote. Then they basically just did some tricks basically and reversed it and said on the last week before MPs go on vacation, it has to pass instead of fail by a majority of the people present. I'm sorry, a majority of the MPs, not the people present. So it actually like anti-chat control was the majority of people voting, but they set it up so that it had to be a majority of the total and a bunch of people were already on the Riviera and don't give a shit because they just have a center here.

32:13You know, bureaucrats don't give a shit about the people and they pass chat control. So I just think that, I think Bitcoin is Bitcoin and just, you know, freedom tools, free open source software, cryptography generally are the last bastion of liberty. And this is really the time to take up that call. And that was the inspiration for writing the battle for monetary independence. It was the inspiration for this 50-day campaign of the battle for freedom through Bitcoin really is like Bitcoin is a freedom enabling tool. And I don't know that I've been this excited and fired up in years. I mean, this feels like when I got into Bitcoin, building my conviction in 1819 and starting Swan and launching in 2020 and just how much energy there was, all the way through battling all the crypto scammers in 22 and all those collapses and how we were all cheering and having the blast even as Bitcoin was falling into the teens at Pacific Bitcoin in 22.

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35:53So make sure they can access in the future what you've built today. AnchorWatch is your custody, your way. Visit anchorwatch.com to get started. That's anchorwatch.com. I love the vibes coming back. And the funny thing about that Pacific Bitcoin conference in 2022, price was crashing. I was there and vibes were still high then. Like amongst the hardcore Bitcoiners, the vibes don't really change. We just need to spread this to everyone else. The interesting thing on all the sort of crackdown on free and open use of the internet, chat controls, things like this, is that there's a proportion of people that say, well, move.

36:27And I don't really love that as an argument. The amazing thing about Bitcoin and the freedom tech that's being built is you can still live in those systems and just live in a totally parallel world. You don't have to necessarily follow these rules. Using Bitcoin, using VPNs, using open source AI, all these things are available to everyone and you could just live the life you want to live. That's right. Yeah, you can exit without physically exiting. And we've talked about this time and time again as Bitcoiners. And I don't think people really understand that. And this kind of gets to, interestingly, I think it was the opening speech I gave at Pacific Bitcoin 2023.

37:04So you remember that was like the first big backlash from the shit coins on Bitcoin people and all the ordinals people and like the UDs, whatever of the world, like hating on Bitcoin educators and saying it was, you know, whatever. And it was my cousin, Cameron Clipston, the much more famous Clipston in Los Angeles who grew up there. He came up to me after a swan salon and it happened to be, that's one of our private client events. and I was like I was a little drained because I'd been on stage you know talking and I kind of just felt like and I was kind of you know burying my chest in a little bit and saying like you know it really felt like I am just kind of synthesizing things that I've read by other people and I just feel like I'm kind of repeating things a lot you know like the same old jokes for a comedian or something like how much is there really like new thought here it's all been said to some degree and I feel a lot more creative now, but at the time I was just feeling a little bit like at the end of my cycle there a little bit.

38:06And what he said is like, everything you said was awesome because I don't know much about Bitcoin and that was all new to me. And he reminded me of something that I should know because I ran a lot of YouTube sales strategy at Google. And like, I know that over 99 % of views come on new content, not library content. And his point was, If somebody has chosen to listen to you, it actually is incumbent on you to, if you're the voice that they listen to and you're the educator they choose, it's incumbent upon you to tell them everything about Bitcoin. So like you with your audience, like you have to tell them everything they should have learned if they read Bitcoin is worse is better and showing out.

38:48And, you know, if they never saw the podcast with like, you know, Naval interview, or sorry, it was Tim Ferriss interviewing Nick Szabo and, you know, or they never listened to episode 71 of the Stefan Levera podcast, you know, intro to Bitcoin economic thought, you know, or Austrian economic thought, you know, so you kind of have to like resurface these things and repackage them and tell them in your own voice. and you know if people are learning bitcoin because they're subscribed to your feed and they like your style and they like the cadence and you're a good interviewer and the production value is good like it's kind of on you to find the guests and find the topics and ask the questions and figure out a way to to get them up to speed on everything they've missed in the last 17 years so i'm just kind of reminding myself of that responsibility and reminding our whole team and everybody around us and the podcasts we sponsor etc like we actually have a responsibility to bring the best of everything forward, you know, kind of year after year.

39:47And, you know, using the standup comic, you know, frame of reference again, or the analogy, like some of the jokes may change and you're swapping it in and you're like, hey, there was this one piece about Bitcoin and Mises from 2014. Actually, the way they said it in 2019 was a little better. So we swapped that out and like the jokes or the routine just keeps on getting better. But yeah, I just think, you know, always be curating. ABC, always be curating. I think that's actually a really good point. It's like, you're the band, you need to play the hits. You don't want to be playing the obscure B-sides.

40:20And I think when you've been doing this a long time and having these conversations a lot, it's easy to feel slightly jaded by them. But I think that is actually a very good reminder. Is that the thing, as like Bitcoin educators, people who do Bitcoin content, do you think that's the key thing we need to take forward? Or is there anything else we should be doing better?

40:38I mean, that I see as kind of the key thing. I do continue. I think there's something interesting going on right now with just how accessible AI makes knowledge and deep dives. You know, not just coding, but also just being able to do research so easily and so quickly. I find it a lot easier to get to a point of technical understanding. for a non-technical person than it's ever been before. Because you can just, you can, you got to spend a lot of time with these tools and you have to understand that, you know, Gemini is the best at research because it's Google and they have access to the internet and it's super fast.

41:21And like, you can get all the information, but like the logic engine is really stupid and it hallucinates constantly. And so you basically have to run it through, you have to run it through chat GPT, which is by far the smartest of the four if you think of like Grok and Claude as being in there. And so you can kind of like bat them off. And then if you want like a crazy autistic cousin, then you also run it through Grok sometimes. And then, you know, if you're doing coding or processes or whatever, like Claude is fine, but Claude is not a good researcher and it's not a good logician for words, strategy, research, things like that.

41:55Like it's just, it's great for code and it's great for process and that's fine. And sure, whatever, maybe Dario invents AGI, I don't know. But, you know, I just I just find it's it's rather easy now to get up to speed on technical topics for someone who's not that technical, you know, and I enjoyed jumping back into coding for the first time since the 90s. And I did a lot of it in like December, January, February. And we launched Speakeasy, which I prototyped. And we launched Vigil Protocol, which I prototyped, which is like family financial orchestration for Bitcoiners and non-Bitcoiners. Just go to vigilprotocol.ai if you want to check that out or email me.

42:34But yeah, I think then I just started realizing, you know, so much of this is just about having a tool for easy, faster understanding of complex topics and helping you kind of explain things to other people and arming yourself with good info. And I love that aspect of it. Obviously, it's great for strategy and great for marketing and writing and all kinds of different things but i'm really enjoying being able to use it as a research tool as well yeah i'd be we should get individual later on because i am interested in that but um before we do that like you you have obviously been pushing bitcoin to sort of broader audiences trying to go through like the more cultural um avenues you had a lot of like basketball players people like that on the team do you still see that as a very important thing because i mean i had brandon quit on the show recently and we were talking about the uh archetypes of bitcoiners and how we're all just is a little bit weird and obviously we need to scale this to beyond the uh the autists of the world like do you still see that as like a very key avenue i do think that when we were going a lot more after kind of mass retail and you know probably just i think the way that you know what is it's probably it was the ETFs launching in 24 that basically like it pushed Bitcoin only fintechs more mid funnel and ETFs became a much bigger part of the top of funnel.

44:03It made it a lot easier to do kind of private client businesses. It made it a lot easier to have subscription revenue from retirement accounts and different custody products and loans and things like that because you didn't have to fight against altcoins because altcoins are basically dead. So it's like a much better and cleaner top of funnel. And especially because the ETFs sell a much inferior product to what you have. So it just kind of naturally sends people down funnel to Bitcoin financial services firms. But the broad retail is very handled by Robinhood, E-Trade, Fidelity, ETFs, etc. when they're not into it yet.

44:49So we used to have the first purchase from the majority of our new customers, it was the first place they ever bought Bitcoin. And it was like that for years. And now it's more like two thirds have an ETF already. And then they're going through that phase and starting to learn and care about Bitcoin after that and realizing it's better to have ownership than just exposure. So it really is just education, education, education at this point. It is because, yeah, because I could go and, you know, do a jersey patch on the Lakers or go and, you know, try to cut a deal with like Giannis or, you know, Roger Federer or something like that.

45:27And like, it just wouldn't fucking do anything. That's all that market is all gambling. It's all hot stocks and, you know, hot cryptos and leverage trading and sports betting and prediction markets. I mean, you just cannot outspend these guys because they're the house of a casino. know and that's where the mass market is you know it makes sense for coinbase to put their name on the backboard during the playoffs and it makes sense for all the gambling sites to be on the epl jerseys you know it doesn't make sense for a bitcoin company to do that yeah no i totally agree with that um you you said that um you think altcoins are dead and i know we spoke about this a little bit on the last show but i think it's worth revisiting do you think the like obviously the vibes in bitcoin have been low the vibes in crypto it is over um i i am reluctant to say it's dead forever because like whenever i think that they come back with some new innovation but um well it's fake innovation it's dead for the fight that i care about which was okay what's what's that well there was there was this you know it was the it was the the altcoin battle or the battle of bitcoin versus crypto and it was seven years it was basically 2017 to 2023 inclusive of those seven years and it was when a bunch of them were making claims to be better money.

46:44And it was, you know, it ended with the last gasp of the ETH heads and the bankless guys claiming that ETH was super sound or whatever. And like, you know, basically with the merge, spurge, plurge, spooge, doge, whatever that was that Ethereum did and, you know, switching to proof of stake, like that was the end of it. And I think the launch of the ETFs was kind of the nail in the coffin in January of 24. And like, it's just not, it's not a thing that gives me any think thinking or pausing or anything at all. I mean, you can, you can maybe have a short term trade in a stock or a shit coin that may outperform Bitcoin for a short period of time, but you can't do a one way trade and hold for a few decades.

47:30Yeah. Because, you know, the founder could die or, you know, Vitalik could actually act on his fantasies of doing horrible things to young people or like whatever it is, you know, like, I think I just, you know, you just, you can't trust these things that are just that have leaders and that aren't Bitcoin in that way. And that's true of, you know, the, the leverage Bitcoin equity treasury stocks, which require all these levels of execution, have key man risk, et cetera. like you just can't put much of your net worth into these things um i think the only yeah but you are you are just um they're not even making the claim of any there's no altcoin that i've heard of in the last couple of years that's made any kind of claim of like being better than bitcoin at being money yeah that's a fight we've won and we've won it's completely defeated.

48:25And I don't really care about the other stuff because the bull case for crypto blockchain DeFi always, which I became aware of by 2019 and have said ever since is the bull case is to merge with TradFi and provide incremental improvements to financial IT, which I have no fucking problem with. I'd like, go for it, dude. Like, you know, improve settlement times a little bit, you know, put some tokenize some cows and take a loan against it you know like it's fine i don't give a shit like it's just it doesn't matter real world assets on chain is just like you know another flavor of digital recording of asset ownership it's still adjudicated in meat space i don't even i don't give a shit if somebody comes and tells me about their wharton blockchain certification like it doesn't mean what they thought it was going to mean back then that we'd have all these competing currencies it was like that was the one major thing that Andreas Antonopoulos got dreadfully wrong because he just never understood Austrian economics.

49:27Great at technical explanations of Bitcoin, but all his economic stuff was just terrible because he would always talk about there's going to be some little girl in eastern Kenya that will start a currency in our village and it could be worth a lot. And it's like, no, they're going to get fucking wrecked like the dudes that were trading glass beads because their currency is shit and doesn't have a monetary network effect. So nothing can beat Bitcoin at this point. The rest of this century is basically just a race between, you know, dollars slash treasuries and gold and Bitcoin. And Bitcoin is the fastest horse in the race.

50:00And it's the one that's technologically and just kind of logically superior to the other two. And it's just a matter of getting people to wake up to that. Like the real lines that are going is like it's 8 billion people versus 21 million coins. Like that's really the only two numbers that matter for this thing. Let's go. can I get your sort of broad take on everything that's happened with strategy and especially on their sort of marketing side over the last you know six eight months because one of the things that I had a really big problem with is calling saying that he was making bitcoin better money that that was like really the marketing push that I did not like that didn't sit well with me but like what's your overall take well that was the uh you know Fonzie jumping the shark moment And that was kind of when like even even the nicest Bitcoiners that like him personally and like the team and like the effort and love having them on the bid like that was a bridge too far.

50:54So I was I was OK with digital credit, even though Stretch and SATA are not digital credit. They're hybrid equities and it's you know, it is an equity and it's professional preferred. And, you know, using the language of better savings is pretty much what Mashensky and BlockFi used to say. and you know that that wasn't really okay but it did seem like they'd always caveat it on their appearances and they would actually always point to the fine print and they would always be like you know i know it's actually a hybrid equity it's just like it like the buyers are seeing it as credit and it does kind of have a yield because there's a payment every month or whatever so like i was okay with digital credit as a term of art and the way they were talking about it uh i didn't like any of the marketing to retail.

51:41From inception, when I saw these, I saw this as a Wall Street product. I saw these as leveraged Bitcoin equities. That's what they actually are. That's why I created the acronym in late 23 LBE, because it accurately describes what's going on. A Bitcoin treasury company masks what's going on and confuses people, because if you have Bitcoin in your treasury, like MassMutual or Tesla, you're a Bitcoin treasury company, and so is Swan, and you know, probably so are you, right? Like you're a Bitcoin treasury because you have Bitcoin in your treasury. So it's just confusing and doesn't make any sense.

52:13A leveraged Bitcoin equity should provide levered exposure to Bitcoin price. And so it should be essentially a way to get, you know, 1.2X per year, 1.15X per year that compounds over time. It also will draw down more in a bear market when Bitcoin drops. It's hard to do. You can't create perpetual leverage that just sits there. You have to actively kind of trade and market and access capital markets and talk to shareholders and you face liquidity crunches and key man risk and regulatory risk and all these other things. There's all these extraneous factors. True of ETFs as well, by the way, which is why you can't just buy and hold a 2x long ETF.

52:56They always have an error tracking the index, which is why they're actually used as hedging tools by professional traders, not buy and holds for long-term investors. You can't use them that way. They erode and they don't actually track it and they have high expense ratios and you just get wrecked. And so I never thought they should have been marketed to retail. I thought the whole point was trying to get institutions into it. if you're obviously like watching the institutional marketing and seeing people going doing roadshows and getting institutions into the stock and their preferreds like by all means if that like I'm all about freedom and you should be like free to do what you want but I don't like the messaging coming through with like superhero memes and like you know hot girl on the Thai beach talking about retiring on a preferred equity or whatever.

53:50But even all of that didn't really raise my hackles until it was like a derivative of a derivative is digital money with the oil derrick meme or whatever. And we refined Bitcoin into digital money. And I was like, bro, you're literally taking like a tranche of a preferred share that's traded on the DeFi rails of like former crypto scammers who you're now putting on stage at your conference and pumping them and calling it digital money. Anyway, so that I thought was a bridge too far. I hope they pull back from that. I think they'll revisit that term. I still very much like as people, let's say like Sailor and Sharish and CJ and the team at Strategy, I still like people, Matt and Ben and Jeff over at Strive.

54:49Kudos to both of those teams for actually achieving live functioning LBEs, the only two in the US that actually achieved it. Everybody else either died or is still subscale and hasn't even been able to lever up in that way. I do think one of the most interesting things that came out from the strategy team where they said that 80 % of the people that bought it were retail investors. And like you said earlier, this was kind of touted as being an institutional vehicle. And clearly, we didn't get there to a great degree. And I do wonder if that means the institutional money that everyone expected to flow into Bitcoin last cycle is still on the sidelines.

55:26And that's sort of a big pool of capital that we'll tap into in the next few years. Yeah, so look, I know what I wanted to say in the last section, which is that even in the height of the hysteria of strategy in, you know, 24, 25, you know, we had a hard line that I personally had to come up with and kind of put through our whole sales and marketing team, which is like, yes, we understand some of our clients are also allocating to this, but like hold the line and be very firm that you actually believe, you know, 80 % of their Bitcoin price exposure minimum should be real on-chain Bitcoin. So if you want a trading stack, understand that that's a trade.

56:03Understand it's not the real thing. Understand there's a lot of risks on top of Bitcoin that you're accepting by buying these securities. And just make sure. I would say having watched the last year of NACA, Sequans, which we advised to some degree, and Empory and Pops thing and all the hundreds of failed attempts that never even got off the ground. and then watching what happened to strategy and their price. At this point, I'm like, minimum 90 % of your Bitcoin price exposure should be real on-chain Bitcoin. And if you want to gamble a little bit and think you have an N or something like that, sure, go there.

56:42But I think you'll be very happy buying and holding Decoin for the long term. Yeah, that's all I do. I do think that going forward, maybe these will perform kind of like altcoins did in the past. where maybe during a bull market, they'll outperform Bitcoin, but I don't think over any long arc of time they will. Then you shouldn't hold them at all, because that's really the promise of a leveraged Bitcoin equity. So if you think they're going to weed out so much, but over the long haul, they don't outperform Bitcoin, then you should never buy it. And I mean, I'm no markets guy. That's just my gut check on it at the moment.

57:19Have you seen that Strategy, Galaxy, BlackRock, a few other companies have just come out with this Bitcoin security consortium? I have. Yeah. So the idea of this is, sorry, just for the audience, the idea of this is that they're going to try and do some novel quantum proof cryptography, sort of build on that. Does it worry you in any way, like the group of people that are working on it? So that's one of the things they say they're going to work on. I think Galaxy announced first, and I think of it, it's not using the word of a pledge, but I think that is the way to understand it. So they basically pledged 5 million, and then the rest of the firms kicked in, and I think it's like 15 mil total.

57:56It's not going to any central entity. And each of the companies gets to spend the money however they want. And so in that respect, it doesn't worry me as being particularly centralizing. I just see it as, why not have some people spending some money on Bitcoin and looking at things? And they're probably going to hire people that really give a shit and will look at these things. And this is why, again, you can't always look at something that appears stupid and negative and self-serving. And like, there may be a silver lining to the cloud. So, you know, there was a lot of penny stock pump and dumping in early 25 around quantum themes.

58:41And a bunch of people ripped people's faces off and did a lot of scamming and got away with it as usual. and basically by the fall, there were a bunch of crypto, blockchain, VCs and companies pumping crypto, you know, quantum FUD and, you know, basically the way they marketed their funds and marketed their companies was saying that Bitcoin was, you know, in dire need of saving like right now, so fund my deal. And that sucked and I do think it was part of the muting of the bull market last fall was quantum FUD kind of selfishly. But, you know, there is a silver lining. Not everything is in the con column and why not have some shit on the shelf kind of ready to go, well-researched in case something ever happens.

59:20Do I think it's urgent? No. Do I think it was genuine and honest the way that a bunch of these scammer types went after Quantum FUD last fall? No, I don't think that was genuine and honest and I don't believe them. But I really don't fucking mind where it ended up and I just don't really care. I don't think that they can exert undue influence on this. I don't think the loose coordination by, you know, Mike Schmidt organizing a Zoom call twice a week or probably like fucking twice a year, not twice a week, probably like twice a year between, you know, some lower level research guy that works for Alex Thorne at Galaxy.

1:00:00And Alex is a hardcore Bitcoiner. You know, even some of the guys at Fidelity that would take this work on are Bitcoiners. And, you know, same thing at BlackRock. There's a couple of real Bitcoiners that run their internal blockchain group. And do I think they're going to be nefarious? I don't think it'll matter. Like 15 million isn't that much money. Like what are they going to do? Like force us all to like steal Satoshi's coins and pass James' dumbass BIP? No, it's not going to happen. Yeah, no, I think this is a good thing as well. And there's no reason that any of the research that they fund will, it doesn't mean it has to end up in Bitcoin.

1:00:36And if strategy and Galaxy are going to foot the bill to do some novel cryptography research. I think it's a really good thing. I also think there's been a lot of people that were critical of Sailor for never funding developers who are now being critical of Sailor because he's teamed up with BlackRock to fund developers. I just don't think you can have it both ways. I think it's probably a good thing. I'm neutral. I don't trust anybody. I just don't really care. And I think that there's plenty of people willing to do the research, especially with, again, like AI tools and being able to access cryptography papers and like figure things out.

1:01:11It's not out of reach for people without funding to do that sort of thing either. And as we've seen with some of the atrocious funding that's gone on for Bitcoin devs and protocol devs and some of the poor choices made for like who gets those grants, you know, just having the money available doesn't mean that that person or people are going to outperform people doing it for the love of the game. Yeah. Before we close out, Corey, I want to talk a little bit about Vigil. I was speaking to Brady and P a couple of weeks ago, and they were telling me about it. It sounds very cool, but you should let everyone know what it is.

1:01:43It really is. So Vigil Protocol basically came out of the problems that we individual humans at Swan and all our clients kept on pointing to, which is that once you get over a certain level assets that's not really that high, your life financially gets pretty complicated. This is like the more money, more problems issue that you run into. Like over like 30 to 50 million bucks, you can pay for your own family office or you qualify for like ultra high net worth tier at Goldman or Morgan. And you kind of have a whole team handling all your shit and, you know, doing all the legal tax evasion and asset optimization and tax-free gifts to your kids and all that kind You've got enough money to handle it, and it's worth paying the 250 grand a year or whatever to get that done for you.

1:02:30Anywhere between that, like one to 30 mil, it's just like you're on your own and you have this patchwork. And basically every American suburb and city is just full of people with their tax guy, their fucking estate lawyer, their insurance guy, their real estate guy, their FA, you know maybe like a pocket for venture capital private equity type stuff investing in your friends this that the other like it's just it's spread out all over the place plus you own all these assets and everything and so having a coordination software that basically replicates what you get if you have your own family office or have your own team but it's actually that you have the assets and that you actually have a plan of how to make sure that your family knows about them, keeps them.

1:03:21It's basically the sleep well at night. Go ahead and take that business trip. Your wife is going to be handled. Your kids are going to be fine. Take that vacation. We know. And you've actually proven to yourself because you've actually tested it and made sure that all the messages go to the right places. and it's family financial orchestration for people with complicated financial lives. I think it's targeted at kind of like the 80th to the 99th percentile, basically. And it's US only for now. It is, I think it's the number two source of anxiety for families outside of where to store your wealth, which I think a lot of us handle with Bitcoin.

1:04:02We figured that one out. That's Bitcoin. And then how do you make sure that your family is going to be taken care of and you have it all coordinated. And none of these point solution providers that serve these families is willing to kind of take on all of that across the others. They're all kind of peers and they hang out at the Chamber of Commerce and, you know, coach Little League or whatever. And they spend 60 % of their time on BD. So they're not really like super up to speed on the new laws, new regulations, like the best things. Even really good accountants like fuck up my taxes. even like big name firms in century city with skyscrapers have fucked up my taxes like bad especially when you're dealing with like bitcoin and you know venture and stuff like that so uh i think actually i'd say the biggest thing so portfolio management software like meant personal capital stuff like that basically pulls in your balances from all these different accounts it's not that this is you actually upload like the 200 page will and like the full insurance contract and the full deed and like literally all of the actual paperwork and it actually audits that and pulls out the real fields and tells you what's what and what's missing and what is done better in other similar similar documents um out there and helps you get the whole thing in order so you go through that process you know you or you with your spouse and you actually know for the first time that you actually have it handled and you can prove it to yourself and you can remove that second biggest source of financial anxiety.

1:05:30It's weird because now I'm like thinking, you know, so much of what we do is just kind of removing stress from our own lives. And that's what Bitcoin has done for me. And now the other thing that I really needed in my life was Vigil. So, you know, broadly, I think the mission of the company is to like reduce divorce rates and SSRI prescriptions. let's go we need to open this up outside of america i i need access to this um the big question that i'm sure everyone would have on this is with ai obviously you don't want to be uploading a ton of financial documents if you don't know where they're going is this presumably completely secure it's in like you know super super locked locker within uh aws and azure with multiple levels of controls i mean it's we're a company that's secured your pii and and the only more valuable information than financial information is a digital asset itself.

1:06:26And obviously we've secured that very well. So yeah, you don't want to via code this thing. This is not the kind of thing that like two dudes in Germany can copy and like come out with because they'll get you wrecked if they don't have a real security infrastructure and team. Half our freaking eng team is basically security. Yeah, that's awesome. I think that's a really cool product and something that's definitely needed. I think maybe particularly needed for Bitcoiners because I don't know, a lot of people that came in here don't have experience with this. Like I didn't. I certainly didn't. And this would be a very useful tool.

1:06:59Corey, before we close out, can you give everyone a closing rallying cry? Get the vibes going. Let's get let's kill this bear. Look, what I'll say is I think that there is a common theme. You usually hear it in the media. I get asked it all the time from the MSM sources. And then you also always hear it from the bankers. And they're always looking for a narrative. They're saying like, what narrative is going to spur the next bull market? And I've posted about this. They have it asked backwards. Actually, price drives the narrative. And as soon as price starts going up, which is just a matter of having more buyers than sellers, and it's basically just putting in a floor and recruiting more people into Bitcoin, and we'll turn this thing around, there's plenty of bullish narratives.

1:07:45We've had 100 bullish narratives from the last nine months since the ATH, and they're all worthy of spurring a bull market. There's plenty of bullish things out there from institutional adoption to great things that have happened here, there, or the other. Legislation, more adoption, more products, more loans, lower rates, on and on and on. There's plenty of good things out there. So I just don't think we need a new narrative. I think we just need to buy the bear, buy it up, turn it around, smash it, take advantage of those 50-bit buys. And if you have any inclination to be one of those people that wants to be the admiral or just go stand next to the admiral and be a leader through osmosis and do it, plan the mission, get on the mission, stay on the mission and win.

1:08:46And whatever you can do. I just think this is a really fun moment in time. Like it's not cool to wear a Bitcoin shirt and hat when you're at an all time high because there's a bunch of douchebags doing the same thing and they just got it, right? Like it's fucking cool to rock Bitcoin gear in the bear. And it's cool to be pumping Bitcoin and telling people to buy it now. Like this is actually the most fun time to buy because then you get to win with your friends. Let's go. I love it, Corey. I'm glad you're bringing the vibes back. I'm glad Cafe Bitcoin's back. This show is going to go out on Monday.

1:09:19Tuesday. Tuesday is my chance. Let me come on Cafe Bitcoin. It's going to be my last day in the US and it's the last time I'm on the time zone. So yeah, let's do it. But I appreciate you, man. This has been awesome. Thank you for everything you're doing.

1:09:31Cory Klippsten:Since people are listening to this on Monday, I'll see you tomorrow.

1:09:49Thank you.