🎙️ The Halving Report Podcast: Episode 101 - Exploring the Exciting World of Bitcoin with Bitcoin Zay 🚀
🎉 Welcome back to another episode of The Halving Report! Today, we're diving deep into the current state of Bitcoin with Bitcoin Zay, author of "Bitcoin and Black America". We discuss the 'Fight You' stage of Bitcoin, the upcoming ETFs, and how to earn while you learn in the crypto space with the Yzer app. Don't miss out on this enlightening conversation! 🎉
🕒 Timestamps 🕒
🗣️ 0:00 - Introduction: Earning and Learning in the Bitcoin Space
🎙️ 0:30 - Welcoming Bitcoin Zay Back
🤔 1:36 - The Current State of Bitcoin and Exchanges
🎯 2:24 - What's Happening with Bitcoin Right Now?
📱 4:19 - The ETF Explained
🔒 7:17 - Bitcoin Zay's Initiatives and the Yzer App
💸 10:18 - "Bitcoin and Black America"
🔗 12:09 - The Lightning Network Explained
🎨 13:42 - Favorite Bitcoin Meme
✈️ 14:24 - Quickfire Questions
🎯 Key Takeaways 🎯
🤖 The 'Fight You' stage of Bitcoin and its implications.
🕵️ The importance of being cautious with exchanges.
🔒 The Yzer App: A platform for earning and learning.
💸 "Bitcoin and Black America" and its focus.
🔗 The current state and future of the Lightning Network.
🌐 Connect with Bitcoin Zay 🌐
🌐 Check out Yzer App 🌐
#HalvingReport101 #BitcoinZay #BitcoinETF #BitcoinEducation #BitcoinInnovation #LightningNetwork #BitcoinMeme #BitcoinAndBlackAmerica #YzerApp #BitcoinPodcast #Blockchain #Bitcoin #CryptoCommunity #CryptoInsights #CryptoNews
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It's the only app right now that at scale, where you can earn and learn at the same time.Speaker 2:
As Bitcoin Zay back on the show. We had Zay on the Havoc report with our good friend Justin Redrick, or known as Bitcoin Vegan on X showed up to Mike Valley for just being an awesome fan of the show. Today we break down what exactly is happening in the Bitcoin space right now, what you should be doing if you are a Bitcoiner, and how to learn more while earning Satoshi's at the same time. I'm really excited for today's interview, so let's just jump right into it. Welcome back to the Havoc report podcast, man. Thanks for doing this today. Thanks for having me, man. Glad to be back, brother. I kind of just looked back at our show, back what we had with Justin, myself and you. That was back in February 15, 2021. Actually, just had a pretty good chuckle. We were bullish as hell, man. I think we got a little taste of some gains and like I was being conservative to say at 100 grand, you guys are saying 200 grand. I still think that by the happening or around the happening oh okay, I asked you about Block 5 platform and a few other lending platforms and you said you were too old school at the time to kind of be into those, but I guess that dated in your favor. Looking back, what are your thoughts on that? And like kind of what's happened through this cycle?Speaker 1:
Oh, yeah, well, since that time period, we've seen, I mean, a whole bunch of exchanges. We saw the Block 5, voyager Celsus, we saw Terra Luna go down, we saw a bunch of other smaller exchanges and you know, even though some people call me old school, this is my third beer market. I've seen this three times, man, whenever everything's good, it's all good. You know everybody's making profit and they're like oh, I got 8% on my Bitcoin and the prices are going up. And then when it's bad, it's really bad. Having a risk off asset is good enough and that's how, you know, I view Bitcoin and with the exchanges going down, I think it taught a lot of newbies a good lesson. You know you can't just go for whatever looks good or whatever shiny at the time, because, again, to me, the prizes Bitcoin, everything else is. You know you can involve yourself in it, but when things go bad, usually it's nobody there to pick up the pieces.Speaker 2:
You're obviously educating on people about Bitcoin on a day-to-day basis. What would you say to a normie asking you what's going on with Bitcoin right now, considering where we're at in the current price?Speaker 1:
We're at the stage of Bitcoin. You know where they say first they laugh at you, then they fight you, and you know they'll say and it goes we're at the fight you stage. And by fight you stage, what I mean is there's a lot of talk about the spot ETF. That's like the big, big thing. You know like Blackbriot may get in, and you know Vanguard and the Tour of Else, you know like six different funds, but what they don't realize is that I think there's going to be a huge pushback against Bitcoin to suppress the price, which I think is what's been happening, just so they can get as much as possible before you know, this ETF comes. So, from a price standpoint, I'm looking at that. As far as innovation, I've seen so much innovation in this bear market has been amazing. I've probably followed about a hundred new companies and new people with innovative ideas. I believe, like two days ago, bitvm just came out. You know drive chains have come out, ordinals have come out. Since then. I mean so much innovation, so many new startups. I'm actually consulting a startup now uh, get wiser on Twitter which is Bitcoin financial app. So so much innovation is happening. I haven't excited about Bitcoin. Never been more excited in my life. It's not just Bitcoin. I've always said this. It's not just Bitcoin in a vacuum. The geopolitical part of the world is going to merge with Bitcoin and we're seeing that right now. Bitcoin is at a point where we have one signal which I always like is my guy from CNBC. What's his name? Kramer? He got the Kramer reverse signal. He just said Bitcoin is going down today. So that's the first thing. The second thing is at a time period of uncertainty which is starting to happen with all of the printing of money we're doing, that's happening at the same time, and then the happening is coming in about six, seven months here. So all of this is happening at the same time. I've never been more excited for Bitcoin into the world stage and then, you know, at that point there will be no more arguments. That's that's. That's my main thing. I'm just tired of people that still have arguments like come on, man, what are we arguing at this point?Speaker 2:
Yeah, and that's something else we talked about when you were on last is some of the people that are out here that are there are still naysayers. You know we talked about shift, but Kramer said it's going down and then that's an indicator that the bottom is in. But you know, you talked about, you know, the ETF. Well, what is an ETF? And and how is that going to give more people access to Bitcoin? Oh, yeah.Speaker 1:
So ETF, there's two different types. You have a futures ETF, which that has already started. We that started in 2017 with CME futures and then CBOE. They were the first two that had ETF. It's an exchange traded fund. What that allows is for people to purchase, in dollar amounts, contracts of Bitcoin, and it's not actually buying Bitcoin. I just want to make that clear. But you have the ability to basically purchase a contract on Bitcoin saying that the price will be up or down at a certain date. Thing is, with futures, you can basically take out a loan, which is called margin, where you can actually increase the amount that you're betting and make money that way. If the price goes below a certain point, you got to pay back that loan and that's what they call getting margin called and you'll lose your position. However, a spot ETF is much more risk averse because you don't have the 10X, 20x, wild future speculation. With spot ETF, you're buying Bitcoin at that price and you're only making money on the value of Bitcoin up or down at spot price, which is whatever the price it is. So you know no more over leverage. That you know. I remember people on Bitmax doing 100X and you got some of these other ones. I think by Bit got like 100X and you know stuff like that. When you put that in ETF form, that can be crazy, but with spot ETF it's a lot simpler that way and it's a way for people to get introduced. I call it a base hit. Some people are just not going to hold their own Bitcoin keys. They just don't want it. They're too old school, they're too much in the legacy financial market. However, it does get them to a point where they say, ok, well, I have this contract and if I want to turn it in for dollars, I can. However, I think we're going to hit a point where people are like I want my actual Bitcoin, like I actually want the Bitcoin so I can either use it or store my value, and that's when I think we'll see what I call hyper Bitcoinization, because I don't think most of these funds are going to have the Bitcoin they say they have. You know, a lot of people are scared that there's going to be too much paper Bitcoin, and by that we know Bitcoin has a set supply 21 million. However, with paper Bitcoin, they can basically say, oh, it's 210 million Bitcoin's in paper terms. However, once people take that paper and try to turn it in. All of a sudden, you're going to have exchanges that say we don't have it, or they're basically going to say nobody can sell Bitcoin right now. So the price is just constantly going to go up. How much are you willing to pay? And we've sort of seen that in small chunks, and I think that's what we'll see with this by ETF. It's inevitable. It's just Politics, man. I mean Gensler, he's come on man, he's pretty much stated that it's coming. Everybody else is that's trying to fight it. They talk about crypto, crypto, crypto, all they want, but we're talking about Bitcoin. So there's a totally different thing and hopefully people understand the difference once it comes day.Speaker 2:
Over the years you've been very loud voice about Bitcoin only and you know to invest wisely into cryptocurrency by. You know dollar cost averaging and stacking stats over time in the podcast world. So sometimes educating about Bitcoin isn't quite enough. So I'm gonna throw a fun blitz question at you and it's gonna be name the first cryptocurrency that comes to mind other than Bitcoin.Speaker 1:
No man, I gotta give a shout out to the XRP people because they are relentless. I respect any person or any group that holds on to their beliefs. It's like that really believes what they're investing in. Xrp people. I mean this got to the point now where some people think XRP is gonna replace the swift banking system and that we're gonna turn our money into digital dollars via XRP and using the ripple protocol. I mean, like I said, I've debated XRP people. I've been on live, I've been in person. I've even been quoted as saying that XRP is the only coin that both crypto people hate and bankers laugh at. It's the only one. But at the same time, they got conviction. I gotta give it to him now.Speaker 2:
You've had a lot of initiatives over the years. You know how many Satoshi millionaires have you created?Speaker 1:
Oh, man, it's hard to say. I will say I know at least a few thousand just from our work with the Satoshi millionaire campaign, with cash app, because with black Bitcoin billionaires we have people calling in every day and buying a million Satoshi's live. So at least a few thousand. But if they told other people, plus the books that I've sold, people on book tour being on TV a few times, yeah, I would say at least in 10,000, 20,000 range, and then whoever they told from there trying to get that up in the millions. That's why I'm advising the wiser Bitcoin financial app, so try to get it as many as possible.Speaker 2:
One man army, and so I downloaded the. The wiser app is it? Is it wiser or get wiser?Speaker 1:
Well, why is there? Is the name of the app get wiser? Is the Twitter handle.Speaker 2:
Yeah, very Bitcoin education focused also Differentiates from Bitcoin and crypto. I've only just gotten started, as I got my referral code from you the other day. But how far does this? Can you take this app? But what? How does it work? And you can earn Satoshi's and you know you are.Speaker 1:
Satoshi's higher up levels that you go. It's the only app right now that at scale, where you can earn and learn at the same time, and right now, our future plans have already come started. Today we just actually have an announcement that there is a Bitcoin diploma program with my first Bitcoin, as well as the core 21m. They'll be using wiser exclusively in order to give quizzes and Homework to the people that they're teaching Bitcoin. We're trying to get this app into school systems as well as colleges. I have four colleges right now that have to meet before the end of the month to try and get a comprehensive Bitcoin curriculum Without having to go through the school or go through the, the rigmarole that goes with the education. I worked in education field, my mom did, my grandmother did. Bureaucracy sucks, man. It may it could take three years to get in the schools, but if you show up with the app and you show up with referral codes and you say, hey, the kids can earn money while they do it, they're much more likely to do it. So not only colleges, but also high schools is an entire school districts. I think this will be the dual lingo of Bitcoin, so to say, and it's speaking of. We will have different lessons that will be in different languages very soon.Speaker 2:
Say can you tell us about the book You're working on?Speaker 1:
Bitcoin in black America. The second edition. When I tell you this has been one of the, you know, the hardest things they have ever done in my life. Not necessarily writing the book. It was, you know, tough, getting through a lot of stuff, but being able to get it out. Some of the red tape off had to get through a battles I've had to fight in the back end different stuff with the production companies, and it's just when the first book came out I didn't think it would be that popular. I'm gonna put it like that. You know, once it did, a lot of people did not want to see the second book come out because of some of the stuff that's in there. But it's coming out regardless. But yes, the Bitcoin in black America second edition is a step up from the first edition seven all-new chapters, you know. It talks about Bitcoin privacy and running your own nodes. It talks about KYC, free purchasing of Bitcoin. It talks about generational Bitcoin, how your kids can benefit multi-sig wallets, keeping it long term. Talks about Bitcoin and marriage or divorce and child support, things as things with family. Talks internationally how Bitcoin is impacted, because since the first book now, have you know, el Salvador and Central African Republic have made Bitcoin a currency, so it discusses that. My favorite chapter is Bitcoin and reparations, because I don't know if people understand, but the black American community there's like a civil war going on before whether or not we should have reparations. You know, I'm sort of on the outside looking in saying, hey, both y'all wrong. We should just focus on Bitcoin and forget all. You know you can't change the past and you're not gonna convince these people of the future, so let's stick with Bitcoin. I'm sure I'll get a lot of flack for that, but I, you know, I welcome it.Speaker 2:
I very much put my politics aside when once I started going down the Bitcoin rabbit hole and said you know what? Fix the money, fix the world, like right. You know, let's start there, because so much stuff just stems from the money. You know the people having no wealth over time. I love the Bitcoin mantra that that you're pushing in the end, the education that you're continuing to read there, just to continue to talk tech for a moment. The lightning network is always a hot topic. I was wondering if you quickly break that down what the lightning network is for us. How far along are we in its development?Speaker 1:
Oh, yes, so the lightning network is described as a layer two protocol which is on top of Bitcoin to allow purchases very fast and very cheap. The white paper came out in 2016. Adoption started off kind of slow. However, as we started seeing use cases for medium of exchange, the medium of exchange era is coming, which is the next step in money, after store value. The lightning network facilitates those payments cheap and fast, from you to another person, instantly around the world for less than a penny. We actually River just came out with a report reporting that there was a 1221% increase in lightning transactions, which is good to see over the last two years and I think that will be more astronomical as we get closer to that medium of exchange era. You know Bitcoin is proving itself as a store value. The next step is medium of exchange, which we'll see with no layer twos like lightning network, then onto a unit of account. When people think about Bitcoin, I do know some people that kind of confuse when you say lightning. They think that's another coin. They're like, well, what does lightning do? And it's you got to kind of make sure they understand. Bitcoin is the foundation and lightning is sort of, if you think of a house, if the foundation of the house is Bitcoin. Lightning is turning the lights on in the house, basically like it's making it functional to a point where you can actually operate within this house. So you know anybody that's using Bitcoin. I would suggest and encourage to use lightning network, test it out. See the fact that you can send somebody 50 bucks and in two seconds and pay less than a penny. I mean basically beats out every crypto there is with this late two and it definitely beats out. You know the fiat currency model. So I would encourage anybody to try out Lightning Network and try out some different wallets as well.Speaker 2:
Do you have a go to Bitcoin meme?Speaker 1:
I like the meme where it's Jesus with the whip. We're driving the bankers out of the. I like that one. Oh nice man. It's almost like a you know spot on meme. That's one of the only ones that I came up with myself, like I just saw it and I was like that's perfect. But other people have taken it and copied it and remixed it. But other than that, I still love the meme where it's the guy in the princess and he's like you know, when Bitcoin hits a million dollars, you're going to sell some right. And then he just kind of looks at it and it's like right, it's like the real Bitcoin is kind of looking to you like no, bitcoin is the real money. I'm selling my fiat for Bitcoin. So I like that meme a lot too.Speaker 2:
If you had to explain Bitcoin to a five year old in one sentence, what would you say?Speaker 1:
Digital money that your parents can't take from you. I like it. I like it.Speaker 2:
One more If you could have dinner with Satoshi Nakamoto, what's one question you would ask him? What's your private keys?Speaker 1:
I take the Bitcoin and an air drop it to people all around the world. And, yeah, we dismantled the system overnight.Speaker 2:
That's super cool. Zay, I know you're a busy guy. I love your Bitcoin ethos. I really appreciate you coming on catching my listeners and I up with what's going on in the Bitcoin space, with what you're working on. So thanks for doing this tonight, man. Absolutely Thank you for having me.Speaker 1:
It's always a pleasure for me, man.Speaker 2:
Hey you Thanks for listening to the Having Report podcast. If you want to support, follow us on your favorite podcast platform and leave us a five star rating. Follow us on our socials at Having Report. If you're Canadian and you want to buy Bitcoin or cryptocurrency for the first time, go to bitbyca forward slash having for a $20 bonus. If you want to bring it to the next level and take self custody of your cryptocurrencies, If you want $30 off the ultimate digital asset security device, bitby, go to having reportcom. Forward slash bitby. For more information. Until next time, I'm Brad Mines.