0:00 [Music] welcome back everybody we've got mr don in the seat today even though we're talking about a random article but he's here sorry hot dog hi don and i really like your hat thank you throw that out there as well thank you so much normalized men complimenting men normalize it hey and hey nick you got pretty eyes i think they're just normal brown eyes but jealous [Laughter] ukraine's zilinski signs virtual assets bill into law legalizing crypto in ukraine and they have just in case nobody's been paying attention received over 100 million dollars in donations in crypto to assist their war efforts last time i i thought it was less than 20 so that was fast over 100 million didn't um
0:51 coinbase and some other platforms blocked it in russia right that's what i read i read that i think because of sanctions yeah yeah towards russia yeah centralized exchanges but in ukraine it's cool wait uh what do they mean by legalizing crypto you mean prior to the war things like those apps or centralized exchanges um can be in conversation different from like uh their crypto regulations in terms of acceptance in the nation does that make sense nope one more time in the same way that uh uh something like a coin base can like stop working for russian citizens because of sanctions they can also technically stop working in general because of like the macroeconomic situation oh yeah but it doesn't mean that like crypto is uh can't work in their country does that make sense they could still use the now you have to say yes i'm not stupid you're stupid yeah you're dumb dude we get it
1:41 it goes against like a centralized system so they can still use it but they can't yeah use it for specific i think the birth and the idealism of bitcoin specifically yes but there's a lot of crypto that is they're centralized for centralization as well so but yes the the ethos of bitcoin is to be decentralized so it can't be stopped you know what i mean because i think one of the the popular memes that's going around right now is uh the ethos is to be centralized no no no decentralized uh but one of these one of these things where putin's talked about how like this war has brought forth the idea that things like foreign exchanges right it can just be like seized by us diplomats or whatever at any moment this is not a foreign exchange is it it's a u.s controlled still yeah yeah so there's a really kind of a hot moment for the world to kind of be paying attention to life and it's so good for crypto oh i was like a moan
2:32 if you make enough money it might be moaning you loans know russia it's very bullish why is it bullish um okay before i answer that i want to know why like what does it mean to be like crypto is legal in ukraine because they were already taking donations before he announced it was legal so does that mean at that time it was illegal or there was a weird status it was probably a weird status this says that uh ukrainian president vladimir zelinsky legalized crypto in the country signing into law a bill on virtual assets amid a frenzy of digital asset donations to support the country's defense against the russian invasion the law determines the legal status classification ownership and regulators of virtual assets as well as setting registration requirements for crypto services providers providers the ministry of digital transformation said
3:22 um and the market will be regulated by ukraine's national commission on securities and the stock market exchanges will be able to operate legally and banks will open accounts for them and that's the state body is tasked with shaping and pursuing a policy in the field of virtual assets determining the order of circulation of virtual assets issuing permits to virtual asset service providers and carrying out supervision and financial monitoring in this area so so in layman's they're just recognizing that you can use it just as good as legal tender so go ahead and i have you have my blessing and the nation's blessing to operate with this and you're not gonna get the rhetoric of us saying you can use crypto for illicit ████ don't use it it's illegal and they're most likely also putting like staff into place in order to that's what it sounds like too like all the people that you were originally like a tax accountant
4:12 you can also do crypto you're a stock broker you can also do crypto like you're a bank you can open a crypto account all the financial personnel and just the whole infrastructure is now okay to do crypto as well and that's why i would say it is very bullish for crypto because the more people adopt and the more people have faith in it then the more money is going to flow this way also when you see governments using their power to say oh you're my enemy i don't like you because you just think different from me you can't you can't be a part of the economy now or whatever and um it's not a good case for you know obviously russia because they're the enemy to us right but imagine being a russian citizen who has no ████ power from what putin does it's like they're getting screwed at the end of the day because american companies and western companies are like well ████ putin we're gonna just you
5:02 know squeeze out your country so the peasants the everyday people we have to suffer for the actions of our leaders right but then what crypto does is it gives people an opportunity to go okay well if crypto's being used and if people are gonna take crypto and i can go buy bread i can do these things then you know what instead of trusting in the ruble or the dollar maybe i'll trust in crypto and then the q and then that's the whole point i think of the whole uh decentralized economy and this is like a better case for that it's like see look at what can happen here in this case it's like okay we can use this as legal tender we can use this as a way to like purchase goods and and then the maybe the citizens don't have to suffer that's the part that sucks the most just the everyday citizen that isn't even like pro-war and they're just living their life like a school teacher
5:52 or something that they you can't even buy a uniqlo over there anymore you can't buy apple products like nike none of that but also yeah what sucks is it is a tactic of war though it's like espionage or whatever right where you squeeze out the country's citizens so there's uprising within and then if they can't battle a war outside if people within are just like trying to take down the government then you have an insurgency exactly is that a tactic of war 100 sick dude we got the confirmation i got a real military guy to say that yes which insurgency was the coolest top five favorite top five the united states against britain when we took over this country that's a good answer that's a pretty cool ████ good answer god damn you ████ hot guy yeah this guy's so hot man it's crazy somebody uh i i read on this tweet and it was a really cool way of looking at it that um things like bitcoin and stuff like that is not so much the
6:43 value of money but the value of freedom you know what i mean because money is our we can tell in this time frame that like money is a really volatile concept you know i mean who controls it where people's stance is on um like for for us it's like technically i believe a barrel of oil is actually cheaper than it was like a year ago now technically and yet they're still charging us more for it because they can take advantage of that you know what i'm saying like oil tycoons and stuff so it's like the idea of money is not so much what its value is but like the freedom in which it can like give somebody you know what i'm saying so i think that's a cool bullish concept for stuff like bitcoin so buy more crypto then and here's the thing this same bill an earlier version of it was rejected in september of 2021 by zielinski so think about like the circumstances that have to change 180 exactly right that's
7:33 like them arming their citizens you know like it's a touchy subject but then ukraine is uh it's you can't not everyone can have you know guns and stuff but then like they're handing them out once it's like oh we're getting an invasion yeah you have a gun everyone gets a gun funny how that works which is funny which is funny because um you know one of the arguments for like uh you know like the second amendment is that like oh well what's the point why do you need them ah there's no way they're gonna ever evade america but one of the reasons why japan was hesitant to invade mainland america is because all their citizens are armed so you're gonna have to face not only their army but militias a huge huge resource drain of trying to take over every single town in america so i was like damn that's pretty interesting just gotta hit la new york they don't have enough guns exactly new york they're very anti-gun laws yeah
8:25 just hit san francisco then you got the italian mafia that's like hey i got it capisce no problem you know is that the guy from the home alone cliff we have a lot of like police fund that we don't have a lot of you there no we don't not in l.a damn i think you guys are wrong dude i think i think they have a lot of resources right now yeah i think they're locking a lot oh we have a lot of we have a lot of asian hate that's what we have oh we got an abundance yeah what do we do with that yeah that s███'s crazy how it's all politicized it's like god damn guys i think i think there's uh eight senators something like that in america right now that are pushing a bill to also uh ask for bitcoin to become legal tender with me i saw that that would be so easy that'd be a big change a lot of countries that are stepping up to that exact same thing and now we're starting to see that i think in our own government right like people just actually going to the house now
9:15 actually in the senate like actually speaking up about the pro bitcoin pro crypto kind of space and i think one of the things that is being propelled the most with the narrative is that we as america need to be winning the race for the innovation of like financial technology and also just like i think there's also a fear to it it's like i don't understand bitcoin but they look like they're accumulating a lot and we can't lose you know what i'm saying i think that's a huge tactic to it how do you think that's going to change the market do you think that's going to help i personally do also think that like whether you accept it or not is a huge thing right people didn't understand ████ bitcoin a couple years ago and now it's all over the news yeah understanding it is is even grandmas are hearing about it on the news exactly you know what i mean and it's like when you think about like whether it be things like ukraine and russia who are huge miners of the currency and now they're
10:05 undergoing their things and it's like potentially pushing people out when china bans it all the miners go to ukraine when ukraine has to shut down because of russia it's like all these miners they start going somewhere else and then when you realize who has the power right who has the abundance to create that opportunity for a minor to freely do it untaxed or whatever and you can harbor them in your country it's going to lead to some sort of profitable thing in the future and power thing on some something as um that's not deflationary but it's something as limited as like a bitcoin you can only get so many whoever's got the most chips at the end of the day is going to have a lot of power and it's like if we are still arguing over here on like whether or not it's it's used for illegal activity that's all ████ which is the worst argument it's the it's the stupidest who gives a ████ all right who cares there's so many companies now that are legitimizing bitcoin right beside like
10:57 whether the government approves it or not like what's a square that just turned into block like they are everything behind their all the research projects is about how they're going to get crypto oh yeah market shopify is about to accept yeah stable coins instagram yesterday just announced that they're going to make nfts available via their entire uh wow so it's going to be very social media and like that's that you're that's talking mass adoption now yeah integrating it in ige that's all it takes right is one giant company like that one 16 year old tick tock girl to get an nft and you're ended [Music]
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