1:40:03 Yeah, I mean, I think when you look at CBDCs coming down the road, this is certainly going to be something that Congress tries to piggyback on and tries to roll out these CBDCs and stablecoin regulation. I don't think there's any doubt about that. Stablecoins feel pretty safe right now compared to, you know, the volatile crypto markets. Well, let's say this. Anybody saying that cryptocurrency is fiat, it's all fiat. At least this has some basis in reality. We'll be right back. Well, Bitcoin Boy, one of the top Bitcoin analysts and broadcasters with his own network is here in studio with us. You were getting into the future of Bitcoin itself, cryptocurrencies, the central bank digital currencies, where all this is going.
1:40:41 Yeah, I think definitely digital currency is going to be something that's going to take over our lives for sure. Right now it seems like a little bit of a novelty and you look at the prices, the volatility, and people get scared by that. But then when you look at the real world application of the CBDCs, while there are a lot of terrible things about them, they are going to be much more convenient for people and we know, you know, people tend to choose convenience over anything else, hence why we have bank accounts. Sure, so this is the future. People should become experts in it so that they can't be controlled. Yeah, I think that's something that you have to do. I mean one of my biggest mistakes ever in crypto is buying Bitcoin in 2012 and not understanding what I was investing in. And that's why I set out on this channel to educate people to help them learn, you know, the ins and outs of this industry because when you really grasp it, you know, this is the only way we save ourselves from a great reset. Let's talk about that, but let's put, go back to that 12-year graph guys.
1:41:31 That looks totally controlled to me. Where anywhere do you see a six month completely basically flat line? That looks that looks totally manipulated to me. Well, I understand why you would say that. But you have to understand Bitcoin operates off something called the four year cycle. I'm a Bitcoin four year cycle fundamentalist. What that means is, I believe that every four years, the same general thing plays out. It all has to do with Bitcoin mining. There's something called the halving. Every four years, the amount of Bitcoin being produced on a daily basis through mining gets cut in half, literally cut 50%. And so what happens is when that event occurs, you get a supply shock. And then you have a dramatic upswing for Bitcoin. That's when we get the bull runs. Then it gets overhyped, retail comes in, they get wrecked. And then you have the one year of straight down action, which is right where we're at right now. We're kind of right time wise on the cusp of
1:42:25 maybe the bottom of the market and then the next year and a half will be very slow accumulation. And there's some volatility built in it as well in 2019, for instance, Bitcoin went all the way up to 14,000 is an outlier. But in general, when you really understand the Bitcoin halving, like that's the most important thing that people need to understand when you're looking at the prospects for where Bitcoin's going. So you're bullish on the future of Bitcoin? Oh yeah, yeah, very bullish on the future of Bitcoin. I do believe that Bitcoin eventually becomes the world reserve currency. I just think it's like 25 to 50 years and then it backs assets like gold used to do. Who do you think really created it? I did. No, I believe Hal Finney was a creator of Bitcoin. Satoshi Nakamoto obviously is the moniker that was used. A series of cypher punks were involved. Craig Wright was probably involved. Julian Assange was probably involved.
1:43:17 Nick Szabo probably involved. There's a lot of people that were involved with it, but ultimately I think Hal Finney is most likely the answer for who the main guy was. Folks, I don't know who Hal Finney is. Yeah, so he actually was a computer programmer and goes back to the libertarian days of cypherpunks and wanting freedom and financial sovereignty and privacy in your transactions. And this is a guy who didn't really like the spotlight. The interesting thing is, is he's dead. So he is not suspicious. He had a disease. I can't remember which one. Maybe it was Lou Gehrig's disease. But it just shows how innovation is what blows away power structures, entrenched elites, you name it. Because they're definitely scared of it. Oh yeah, they're terrified of Bitcoin. I mean, when you look at the prospects of what Bitcoin can do for the world,
1:44:04 It's really scary to the people like Klaus Schwab that want a great reset us. They want to give these- Even the head of the European Union, unelected, she said, oh, this will destroy us if we don't have our own system. Christine Lagarde? Yep. Yeah, they're going to continue to say things like this in cycles and new cycles based on where the price is. So, you know, when everything is going down, you know, they want to pile on it and say it's dangerous, it's dangerous. But when the price is going up- Well, she was saying if they don't get their own, it'll destroy their power. Oh yeah, so CBDCs are something that is the counterbalance to Bitcoin because Bitcoin is open and permissionless and CBDCs are going to be closed and permissioned. But don't they get that'll drive everybody to Bitcoin? They're not going to want to be in the control system. There's not a better advertisement for Bitcoin than when you look at a CBDC. Something, you know, I do a lot of work with, we have a bill right now that we're going to be making public later this month trying to solve some regulation in the crypto world.
1:44:58 But one thing that we need to start thinking about is these CBDCs are gonna become a reality, is we gotta make sure we put in some regulation to stop social credit scores from happening before they even happen. And that's what they're trying to push them for. Yeah, absolutely. I mean, you're going to be able to spend your money. So the governments are doing this. We need to stop the social credit score now. Yeah, I think that's something that's very important to do because nobody's talking about this. Everybody's seen the episode of Black Mirror where, you know, You can't rent a car unless you have a certain score and things like that. So it's terrifying. Somebody's got to put their foot down and say, let's get ahead of this and stop this before it actually becomes a problem. That's why we got to educate people. Yeah, absolutely. I remember just like four years ago still, Congress would have Google hearings. They go, do you track users? No, we don't. They would just lie knowing the Congress had no idea like.