Shut The Exits, Boil The Frogs (It’s Happening Now)

Shut The Exits, Boil The Frogs (It’s Happening Now)

this is Matthew crder from Bitcoin
University today I want to talk about
shutting the exits and boiling the frogs
this is something that’s happening now I
made videos over the years about it but
I think we’re actually at this point now
the situation is quite dire we have
almost 35 trillion in US public debt and
then we have 214 trillion in US unfunded
liabilities this is debt that will need
to be issued that debt will need to be
serviced by an economy whose GDP is a
mere 28 trillion today so that’s not
going to happen meanwhile US money
supply uh M2 money is a mere 21 trillion
so the question is how do you service
249 trillion in liabilities using only
21 trillion in money and an economy that
has only 28 trillion in GDP how do you
service that debt it’s easy you
basically print the money to service the
debt money printer go Burr inflation go
bur US dollar go way down and Bitcoin go
way up if you’re holding real estate
stocks bonds Etc trying to preserve your
purchasing power in the face of the
massive inflation that’s coming you’re
going to get poorer over time because if
you make let’s say you make the average
8% per year in your stock portfolio
which is pretty good in a diversified
portfolio but then US dollar purchasing
power in which your stock portfolio is
denominated because you’re holding US
dollar stocks US dollar purchasing power
goes down by 8% a year and you’re making
8% in your portfolio you’re basically
not keeping up you’re just treading
water and to add to that capital gains
taxes if you switch between assets makes
it even more difficult to keep up
because you have to give over some of
your profits to the government and then
you have less to reinvest and in many
cases these are not even profits they’re
just the sign that the US dollar has
devalued US Government wants everyone to
hold its toxic debt that hundreds of
trillions which are coming so one thing
it does today and will continue to do is
it stuffs that toxic debt into the
balance sheets of insurance companies
Banks pensions Etc through regulation
they say they’re doing this for your
safety but they’re actually doing it
because they want holders of this toxic
waste the FED then keeps interest rates
on that debt well below the true rate of
inflation this is called Financial
repression and what it means is that the
rate of inflation is higher than the
yield you’re earning on these bonds so
you’re basically leaking economic energy
and this is a way that governments
transfer economic energy from Savers to
the government and this is a hidden form
of tax not to mention the regular taxes
that we have now there’s only one asset
in the world that can incredibly protect
you from US dollar and other Fiat
monetary debasement that’s Bitcoin of
course and there’s the rub the US
government wants you to hold its toxic
debt but you want to hold Bitcoin so
what does the US government do they
decide to give you a vehicle to hold
your Bitcoin hooray we got some spot
Bitcoin ETFs number go up and everybody
happy the only problem here is when you
own a Bitcoin ETF as we’ve said many
many times on this channel you own an
IOU you own paper Bitcoin essentially
and you have counterparty risk the real
Bitcoin is sitting over coinbase custody
custody or whoever the custodian is and
you’re stuck with the Bitcoin IUS in
your brokerage account which can and
will be frozen in the future if you’re
not a good little citizen we saw similar
things happen with the Canadian truckers
meanwhile that coinbase custody real BTC
Honeypot will continue to grow over time
until at some point it will be seized by
the US government or by a foreign
government Allah executive order 6102
when all of the gold was seized from the
banks and from private individuals in
the US in
1933 this is the same movie played again
in history unfortunately Rhymes when you
get a regime that is desperate Bitcoin
ETF collateral that BTC is a future
piggy bank for the US government or for
a foreign power to conquer and sees so
what about all the Bitcoin held in self-
custody this is a little bit more
annoying to authoritarians everywhere
since a lot of this BTC is held by
libertarian and Narco capitalist types
who value their personal freedoms people
in fact very much like the American
founding fathers I love this tweet from
Alex Alex gladstein quote we are America
and should focus on privacy and free
speech and private property and leave
the surveillance and sensorship Sh
Shenanigans to tyrants and Kings signed
the founders a very long time ago
apparently so what to do about that
annoying Bitcoin that’s being held in
self- custody well here’s what
governments have been doing so far kyc
collect personal information on everyone
who buys it on a kyc exchange and then
use their withdrawal Bitcoin addresses
to follow their future transactions on
chain if people start doing coin joins
with Samurai or Wasabi to try to get
some forward privacy and hide from this
chain surveillance send them a couple
warning shots over the bow first put the
people coordinating the coin joins in
jail talked about this a couple days ago
the samurai wallet Founders being
arrested and charged with money
laundering in spite of the fact that 90%
95% of the activity in their coin shins
according to the US government itself
were legitimate lawful purposes and
we’ve just had Wasabi pull out of the us
as well at least Wasabi ZK snacks the
coordinator if you’re enjoying this
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also share this video with a friend or
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spread this message which I think is
very very important to get out so people
have a view of what is happening and
they see the totality of the picture so
this is what happens you get rid of the
coin join or you make it very difficult
to coin join and then you have the FBI
make some murky announcements about
using Bitcoin in a self- sovereign
manner this happened just yesterday FBI
issues warning against using no kyc
cryptocurrency money money transmitting
Services the FBI warns Americans against
using cryptocurrency money transmitting
services that are not registered as a
Money Services business
MSB and this is a problem of course
because as diverter points out here in
the grotowski case which was a case with
coinbase the fifth Circuit Court said
that if you use a kyc third party you
have no expectation of privacy you wave
your right to privacy they further said
that users can just not use choose not
to use these kyc uh kyc exchanges if
they don’t want to wave their privacy
rights and now we have the FBI
completing the circle coming out saying
you really shouldn’t use anything
without kyc so this is the government
speaking out of both sides of its mouth
next step for the government threaten
the Bitcoin companies all the Bitcoin
companies in the US and try to drive
them out of the us as Joo points out
here anyone running a Bitcoin business
in the US is one Department of Justice
doj and announcement away from
bankruptcy and even worse than
bankruptcy many of these people will be
put in jail so while Satoshi decided to
pull out late last year they saw the
writing on the wall and now Phoenix
wallet whom I’ve recommended on this
channel many times is unfortunately
pulling out of the US you’ll still be
able to use it if you’re outside the US
but if you’re in the US you should drain
your wallet follow these directions
which I’ll link to basically go to
settings and then drain wallet in iOS be
careful doing it though because mine
went out my channel closing transaction
went went out and for some reason it
gave uh it provided a minor transaction
fee of zero and now it seems to be
somehow stuck I don’t see an option to
RBF or raise raise the fee on that
transaction so be very careful maybe
there’s a way of doing that before you
uh start to close your channels but
anyway the Big Point here is that
Phoenix wallet which was a major major
wallet will be pulling out and the
problem wasn’t just that they were
providing software but what they were
doing they were also their own lightning
service provider LSP where initially
when you set up a wallet they would open
up a Channel with you and give you some
liquidity and the suggestion is that
these uh businesses doing this would
somehow make them a money uh a money
transmitting business or whatever the
acronym is as the parent company as
Phoenix wallets parent company pointed
out in this tweet recent announcements
from us authorities cast a doubt on
whether self- custodial wallet providers
lightning service providers LSPs like we
were talking about or even lightning
nodes could be considered Money Services
businesses that’s the acronym msbs and
be regulated as such and that’s why they
chose to remove the Phoenix wallet from
all the phone uh all the phone app
stores I like this uh tweet from John
carvalo to the people accusing async the
parent company of Phoenix of quote
unquote running instead of fighting tell
me how Russell breaked Julian Assange
and Edward Snowden situations are going
the USA is hostile the powers are
corrupt and the legal system is not
working this is a problem for Americans
also I thought this was a nice uh tweet
from Bitcoin mechanic please remember
everyone’s hero Elon Musk specifically
tried to push the narrative that running
a lightning node makes you a Money
Services business I think it’s important
to remember uh where people have stood
on this issue so what’s the next step
for the US government make it illegal to
run a Bitcoin node or a lightning node
without getting a license from the US
government this is something they could
certainly do it’ be very difficult to
enforce though they could try to jail a
few high-profile bitcoiners or Bitcoin
influencers as a way of getting this
done next step also send the IRS the tax
Authority in the US to audit all
suspected bitcoiners and make them turn
over all Bitcoin addresses and
transaction history both onchain and
over the lightning Network so this can
get quite dark quite quickly I think
here’s the endgame the US government
wants you to use if you’re going to use
it they want you to use custodial
Bitcoin preferably just the Bitcoin ETF
Honeypot which is going to be a great
store of value until it’s seized by the
US government government also wants to
surveil every single Bitcoin transaction
and try to tie it back to you the US
government wants to be able to seize
anyone’s Bitcoin when it needs to it’s
very easy to seize someone’s Bitcoin if
it’s sitting at coinbase custody as part
of the ETF collateral it’s also easy to
seize if you leave your Bitcoin sitting
on an exchange like coinbase or Kraken
or binance or any of these other
exchanges but it’s not easy to seize for
those doing so self custody if you’re
holding your Bitcoin on a hardware
wallet like a blockstream jade or cold
card paired up with Sparrow wallet as
we’ve talked about in this channel it’s
only possible for the government to
seize by force and threats it’s also
very important for the US government I
think to remember and I’d like to remind
them that if you kill bitcoiners their
Bitcoin is lost forever if their keys
die with them so this helps to protect
the network in some way but it’s
obviously a very dark way of looking at
things next question will the US Outlaw
the import of Hardware wallets I think
this is very difficult to enforce and
even if they succeeded in doing it
they’re still great projects like the
seed signer project where you can
basically buy a Raspberry Pi and build
your own Hardware wallet you can also
spin up a software wallet spin up a
multisig wallet as well if you have the
hardware wallets available using Sparrow
wallet which is free and open source
software you have to be very careful you
download it from the correct website
have a couple videos about how to use
this and you also have to be very
careful don’t go in the telegram room
and talk to this scammers uh there who
will try to get your recovery seed but
this is a great wallet it’s fairly
intuitive to use the problem with trying
to ban Bitcoin and Bitcoin wallets I
discussed in this video quote unquote
Global ban on Flipping coins in this
video I discuss how any ban on bitcoin
quote unquote unhost wallets or
self-hosted wallets or self- custody is
essentially a ban on tossing a coin 2506
times and writing down some zeros and
ones on paper this is a very flimsy
reason to put people in jail but this
won’t stop the government if it gets
desperate enough uh 256bit number or
Bitcoin private key can also be
represented as a QR code or is a 24 word
list so you need to ban those things as
well if you want to ban self-hosted
wallets if you want to ban Bitcoin self
custody you need to ban people listing
12 English words in a certain order we
see how absurd this is becoming if I
flip a coin generate a private key and
generate a Bitcoin receive address I
don’t even need to be online to receive
Bitcoin from you into my quote unquote
un posted wallet I can also convert the
Bitcoin address to a q QR code and paste
it all over town using flyers and my
conclusion in this video if you want to
ban Bitcoin you should start by Banning
math and pieces of paper this is how
absurd it gets but it won’t stop the
government from coming up with some
weird law that makes it possible to put
people in jail for doing these things in
October of last year I talked about the
exact scenario that we’re in in this
case it wasn’t big Tech that banned
these Bitcoin wallets uh but in this
video I discuss Mutiny wallet as a
possible worker around to a future
scenario where all Bitcoin lightning
wallets are banned from Big Tech app
stores and we are seeing at the bequest
of the US government Phoenix leaving the
app stores so I talk about mui the good
thing about mui is it’s a progressive
web app it allows you to run a self
custodial lightning wallet in any
browser on a desktop laptop or
smartphone so you don’t need access to
the App Store you can just run it
through a browser and if governments
want to stop this they’re going to need
to stop people from using browsers now
in my experience Mutiny doesn’t work as
well as Phoenix because you don’t have
all that channel management being done
by an LSP but this is still a workaround
so I’ll link to this Mutiny wallet.com
you can just use it right in your
browser looks like you can still get it
on Google Play I’m not sure if it’s been
taken out of iOS but you can just use
this in your browser another Bitcoin
lightning wallet that you can use is
Zeus Zeus
l.com and open store self custodia
Bitcoin wallet that gives you full
control over how you make payments
it looks like the founder Evan kudus is
really digging digging in his heels and
being quite courageous here we believe
that Zeus is following the letter of the
law right now if the Law changes or any
judgments are made we will make
adjustments accordingly if Zeus Falls
all other lightning node operators are
next if lightning node operators fall
self- custody is next this is the hell
to die on self- custody if you don’t
agree you you were never in Bitcoin for
the right reasons so get behind us or go
home so those are two choices Mutiny or
Zeus it’s important to remember that
Liberties aren’t given they are taken as
Alis Huxley famously said it’s not
something you ask for it’s something
that you have to constantly assert and
you have to assert your rights you have
to assert your Li Liberties you have to
assert your freedoms and you can’t just
take them for granted so here’s the
summary of where we are today the
government the US government in
particular is in the process of shutting
the exits they’re encouraging people to
help build up the Bitcoin ETF Honeypot
for later government government
confiscation they’re discouraging self-
custody and harassing people and
companies who enable it they’re making
it more and more difficult to purchase
real BTC and withdraw to self- custody
they’re going to make it more and more
difficult to make Bitcoin transactions
unless you know how to use free and open
source software like the sparrow wallet
like Zeus like Mutiny for example so
that’s the close the exits part they
want you in the ETF they don’t want you
to hold real BTC the boil the frogs part
we talked about more at the beginning of
the video the money Printing and
inflation will continue to ramp up as
the FED is forced to buy most US
Government debt over the coming years in
the meantime because of this inflation
they’re going to have to keep trying to
distract people distract people with
foreign war escapades show trials red
versus blue shouting matches and other
three-letter agency scops and as the US
dollar hyper inflates over the coming
decade or two expect complete societal
chaos Civil War lockdowns Marshall law
unfortunately I think you already know
what this looks like from a few years
ago that was a very minor version of
what we could see happening so what’s my
price prediction for Bitcoin given all
of this and it seems almost profane to
be talking about price predictions in
this context but I still think Bitcoin
is going to the millions of dollars per
coin this is the problem that the US
government has and they can harass
bitcoiners and Bitcoin companies they
cannot stop this very valuable asset
from going to the moon so bitcoiners may
turn out to be the richest people in the
goog unless something changes I would
also say expect this YouTube channel
unfortunately and my Twitter account to
be deplatformed in the next 6 to 18
months if things continue down this path
hopefully we can sort of stop the
momentum here slow the momentum and buy
ourselves some time but some YouTube
channels I’ve heard through the
grapevine have already been shut down
for educating people about the dangers
of cpdc Central Bank digital currencies
which is something I did not cover in
this video perhaps for obvious reasons
but this is part of the endgame if you
want to continue to follow me I
certainly hope to be able to stay on
YouTube YouTube’s been very good to me
and given me a wonderful audience but if
they don’t want me any longer you’ll
still be able to hopefully find me on
Odyssey it looks like Rumble isn’t their
auto updates aren’t working very well
and I don’t have time to upload videos
individually to all of these different
platforms but you can check out Odyssey
you can also follow me on Noster I’ll
put a link to basically a link to Primal
and you’ll be able to see my End pub in
here so you can follow me on the
decentralized Twitter as well as my
website if you need to contact me in the
future and I’m not available on YouTube
anymore if you enjoyed this video be
sure to hit the Subscribe and like
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next video and let me know your
questions and comments in the comment
section below thanks all for watching
and I’ll see you in the next video

Join the private Bitcoin forum:
https://www.bitcoinuniversity.com/bitcoin-forum

In this video, I discuss the various ways in which the US government is trying to navigate its sovereign debt crisis.

Its primary goal is to force people and institutions to hold its toxic debt, whether through persuasion, coercion, or regulation.

Barring that, the US gov is happy to herd people into the Bitcoin spot ETFs, which enables them to stockpile BTC primarily at Coinbase Custody for eventual seizure.

Unless something changes, self-custody will continue to be discouraged, and Bitcoiners and Bitcoin companies will continue to be harassed and driven out of the US.

Bitcoin remains the best asset to use to protect yourself from fiat monetary debasement (inflation) and government seizure.

Bitcoiners may very well end up being the wealthiest people in the gulag.

Let’s hope that we can take back America before that happens, and return to our founding ideals of liberty, privacy, and private property.

Not investment advice! Consult a financial advisor.

Coinbase’s Bitcoin Will Be Seized:

Executive Order 6102:
https://en.wikipedia.org/wiki/Executive_Order_6102

We’ve betrayed the legacy of the founding fathers:

“We are America, and should focus on privacy and free speech and private property, and leave the surveillance and censorship shenanigans to tyrants and kings”

-The Founders, a very long time ago, apparently

🇺🇸

— Alex Gladstein 🌋 ⚡ (@gladstein) April 26, 2024

Samourai Wallet Founders Arrested:
https://www.nobsbitcoin.com/samourai-wallet-founders-arrested-and-charged-with-money-laundering/

FBI Issues Warning Against Using ‘No-KYC Cryptocurrency Money Transmitting Services’:
https://www.nobsbitcoin.com/fbi-warns-americans-against-using-no-kyc-services/

US gov doesn’t want you to have privacy:

Real quick-

1. In the Gratowski case 5th circuit said if you use a KYC 3rd party you have no expectation of privacy (waive your right)

2. They FURTHER said users can just not use KYC 3rd party if they don't wish to waive

3&4. FBI warning to not use anything without KYC today pic.twitter.com/5qSZVANunn

— 𝔻𝕚𝕧𝕖𝕣𝕥𝕖𝕣 #FreeSamourai 🥷🗣️ (@Diverter_NoKYC) April 26, 2024

Anyone running a Bitcoin business is one DOJ announcement away from bankruptcy:

Anyone running a Bitcoin business is one DOJ announcement away from bankruptcy. CoinJoin is just a Bitcoin best practice.
One way to avoid this is by making Bitcoin industry sufficiently decentralized (jurisdictionally too), & many Bitcoin services & product anonymous/informal. https://t.co/zawfk7FRCh

— Giacomo 80 IQ HODL Zucco⚡️🌋🧀💀🧻 (@giacomozucco) April 26, 2024

Wallet of Satoshi exits US:
https://www.nobsbitcoin.com/wallet-of-satoshi-stops-serving-us-customers/

Phoenix Wallet exits US:
https://www.nobsbitcoin.com/phoenix-wallet-to-be-removed-from-us-app-stores-on-may-3/

Recent announcements from US authorities cast a doubt on whether self-custodial wallet providers, Lightning service providers, or even Lightning nodes could be considered Money Services Businesses and be regulated as such.

— ACINQ (@acinq_co) April 26, 2024

Running vs fighting:

To the people accusing ACINQ of "running" instead of "fighting"…

Tell me how the Ulbricht, Assange, and Snowden situations are going.

The USA is hostile, the powers are corrupt, and the legal system is fucked. This is a problem for Americans.

— John Carvalho (@BitcoinErrorLog) April 27, 2024

Elon Musk’s attack on Lightning:

Please remember, everyone's hero @elonmusk specifically tried to push the narrative than running a Lightning node makes you a Money Services Business. https://t.co/96jsx7Vxbk

— Mechanic #FixTheFilters (@GrassFedBitcoin) April 26, 2024

Build your own hardware wallet/signer:

Home

Sparrow Wallet:
https://sparrowwallet.com/download/

Global Ban On Flipping Coins?

What Happens If Big Tech Bans Bitcoin Wallets?

Mutiny Wallet:
https://www.mutinywallet.com/

Zeus Wallet:
https://zeusln.com/

https://t.co/n0ye9TcNYd pic.twitter.com/Me5ixLeBT0

— EVAN KALOUDIS (@evankaloudis) April 26, 2024

“Liberties aren’t given, they are taken”:
https://www.goodreads.com/quotes/180623-liberties-aren-t-given-they-are-taken

Other places to follow me:
https://odysee.com/@TraderUniversity:a
https://primal.net/p/npub1s33sw6y2p8kpz2t8avz5feu2n6yvfr6swykrnm2frletd7spnt5qew252p
https://www.bitcoinuniversity.com/

I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

#Bitcoin
#usa

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