On this week’s section of COINGEEK Weekly livestreamThe John ‘Jack’ Pitts Joined Kurt Wuckert Jr. To talk about the current state of the United States, the strategic Bitcoin reserve, the Trump family’s new American Bitcoin mining company and much more.
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Welcome John Pitts
John Pitts need no introduction to BSvers: He is the founder of Slicirary and PI01, a Wall Street veteran and a regular one at BSV conferences. Pitts has been on the coeingeek weekly livestream a few times before and strongly understands economics, shares and macroeconomics.
Bitmex Pardon and Madness in Washington
Wuckert starts by asking Pitts how he feels what is happening in Washington, DC, right now. He points out Bitmex Paints As something he knows has crossed the line to unnecessarily crazy.
Pitts agree that it is frustrating. He still thinks Bitcoin is greater than Artificial intelligence (AI) or any other technique trend, and seeing fraudsters and criminals who have done so much damage to the industry pardoned are crazy. The “Crypto” industry reminds him of dot-com var; There is so much fraud, and the pumps and dumpers are over.
Speaking of pump and dumping, Wuckert says to look at guys who Howard Lutnick (connected to Tether) and David Sacks Engage in this behavior is about. Unlike Silk Road Boss Ross UlbrichtWho was young, naive and probably never meant for things to be so out of control, these guys know better and are in positions with real power. He asks Pitts if the United States is in real problems with them at the helm and what things can look like in two or three years.
Pitts replies that he assesses governments according to what they can pass permanently. For example, under Donald Trump’s last mandate, he put several Supreme Court judges on the bench, and whatever one thinks about it, it is a basic, long -term change to the country. But this time he has only passed one thing (deportation of foreign criminals), and although it is positive, there is so much more that he could focus on. Almost everything else Trump has done so far has been questionable, he says.
Thoughts on the strategic bitcoin reserve
Wuckert recaps what Bitcoin strategic reserve IS: The coin was confiscated by the US government in recent years, and so they include BSV in Bitcoin wallets.
“No one benefits more than BSV,” says Pitts, illustrating how BSV advocates if anyone, should be satisfied with the reserve. But it seems that this administration is for sale, and the “reserve” includes nonsense as ADA, XRP and ETH. These will all go to zero, he says, repeating what he has for several years and that everything is a massive bubble.
Pitts believe that Biden government basically turned to digital currencies after Sam Banke-Fred Fiasco. Trump used it politically and knew people would remember the crazy pumps during his time in power when Covid Stimulus checks and Fiscal Stimulus rolled out.
Zoom out, Pitt’s paraphrases Ayn Rand: When good, productive people are punished and slimy criminals rewarded, your country is about to the revolution. Unlike other philosophers, Rand realized that the solution to such a system is for everyone to leave. The solution will be a total collapse followed by a new system. “We’re on our way from a cliff, but it’s good in some ways,” he says.
American Bitcoin -mine operation and the parable of the talents
Wuckert asks Pitts about their thoughts on Eric and Donald Trump Jr.’s announcement that they will go into the Bitcoin mining business. Pitts look at it as yet another grave. Although the capital they collect is spent, they will only sell their shares when the time is right.
With gold, silver and precious metals that can do well, Wuckert wonders Peter Schiff will get the last laugh. Pitts points to the parable of the talents in the Bible: real value and work are long -lasting and are where the fun is. Wuckert agrees and says with dismay that only a few people he knows are interested in building real companies that create value; Most people just want to get rich from speculating on stock, coins and property.
To hear more about the latest updates with the Slinessary, Pitt’s advice on success and what Gorillapool is excited about, Check out the section here.
See: Onboarding Enterprises on BSV blockchain via AWS
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