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Bitcoin’s Role in Societal Transformation with Prince Philip of Serbia

Jul 3, 2024

Bitcoin’s Role in Societal Transformation with Prince Philip of Serbia

Bitcoin’s Role in Societal Transformation with Prince Philip of Serbia

Key Takeaways

In this podcast episode, Preston Pysh and Prince Philip of Serbia delve into Bitcoin's intricate relationship with society, exploring its potential to address more than just financial issues. Philip recounts his journey from initially dismissing Bitcoin to becoming a staunch supporter, a change spurred by the 2017 Bitcoin boom and solidified during the COVID-19 pandemic when government responses highlighted the fragility of traditional financial systems. Moving to Belgrade for a more Bitcoin-friendly environment, Philip underscores the themes of financial sovereignty and the importance of understanding Bitcoin's principles. The conversation also touches on Bitcoin's potential to revolutionize sectors like energy and its role as a stabilizing force during political and economic turmoil, advocating for grassroots and institutional support to restore private property rights and enhance societal resilience.

Best Quotes

  1. "Bitcoin fixes a lot of issues. It doesn't just fix money, but it fixes energy, it fixes politics, it fixes so many parts of our lives."
  2. "I have the keys of the future in my pockets, and everything else doesn't really make much sense."
  3. "Bitcoin, it's stronger and fragile at its best."
  4. "I could be doing this from anywhere in the world."
  5. "If you build it, you can stick these things here and immediately have somebody that's willing to buy all that excess energy."


The podcast episode provides an intimate view of Bitcoin through Philip's transformative experience, showcasing its potential to challenge traditional systems and offer a hopeful alternative for a better future. Bitcoin is depicted not just as a currency but as a tool for resource access, enhanced personal sovereignty, and long-term value creation. The discussion goes beyond technicalities, highlighting Bitcoin's historical, political, and societal impacts, and underscores its potential to reshape the global landscape amidst economic uncertainties and the erosion of individual freedoms.


00:00:00 - Intro
00:00:59 - Prince Philip's journey from finance to Bitcoin advocacy.
00:15:08 - Prince Philip's vision for a Bitcoin nation-state.
00:27:14 - The environmental impact of traditional banking systems versus Bitcoin.
00:39:02 - The steps Serbia needs to take for Bitcoin adoption.
00:40:38 - The benefits of Bitcoin for financial sovereignty and inclusion.
00:48:41 - Personal anecdotes from Prince Philip's life as a prince and a Bitcoin advocate.
00:55:06 - The synergies between Bitcoin and monarchy.
00:58:50 - The role of merchants in driving Bitcoin adoption.


(00:00) (00:00) hey everyone this episode is brought to  you by river the place that I personally go to   securely invest in Bitcoin with confidence and  with zero fees they want people to vote for them   then we tell them that bitcoin's good for them  bitcoin's good for for their people bitcoin's   good for society Bitcoin fixes a lot of issues  it doesn't just fix money but it fixes energy   it fixes politics it fixes so many parts of  our Lives we need to sell this to them [Music]   it's great to uh connect with you I know (00:33) we've we''ve talked a little bit  
(00:35) in passing here and there and this is wonderful  to be able to sit down with you and have a have   a good thorough conversation sir yeah likewise  I keep on bumping you in uh in these amazing   conferences but we never have enough time to  take to sit down and have a good chat and we   have Little Talks good talks power talks but  then uh we have we're we're busy we we got   to get back to our to our duties we're getting  torn in different directions exactly I think for  (01:01) for anybody that would look at you  and see uh all of I I couldn't even imagine  
(01:08) the time constraints and and directions you're  being pulled in a in a given day and I think   for somebody that would look at at a person like  yourself and say there's so many things that you   could be looking at or focusing upon and here you  are talking about Bitcoin and are very passionate   about Bitcoin how in the world did that come  on your radar when there's so many other things   that could be distracting or pulling you in a (01:35) different direction that's a lovely   way of putting that question how did I get into  Bitcoin um yeah it it was first started I mean I  
(01:44) The Story Goes that I first heard about Bitcoin  in 2011 when I I believe the first time I heard   about it was when they pulled it off from the  D when uh Visa Visa Master Card was pulled off   the donation page for Wikileaks and Junior nange  said that we are accept Bitcoin and I looked at   it and I was like well that's funny that's  that's interesting but I brushed it off as  (02:05) magic internet money and speaking to  some other people they were like oh yes they   going to go to 100 or whatever I just didn't  take any notice of it at all it's just that  
(02:13) you know something that you find online one  of those funny things online then years went   by sadly and 2017 came along and I was on I was  on I was on on Reddit I know I know Reddit yeah   but I was on Reddit scrolling through the  homepage of Reddit and then every now and   then the Bitcoin uh home uh subreddit would pop  up and that little meme of the roller coaster  (02:41) guy with his hands up in the air would be  going up all the time going wee I'll say what's   going on there I saw this a few times over a few  weeks in like early 2017 and then I get a call  
(02:52) from my best friend this is when I was living  in London by the way in 2017 and my friend is   like hey philli have you heard of Bitcoin I  was like yeah well what's up but if you it's   it's uh it's something that you should get into  you should buy some it's like a great investment   it's a great uh inflation hedge there's only (03:07) going to be 21 million ever invested   I was like oh that's I mean uh produced that's  well that's interesting didn't really take much  
(03:13) notice of that but he was really into it and  passionate had some passion he's my best friend   and I kind of take his advice so I was like  okay show me how so he got me onto coinbase   I bought some Bitcoin and he got me on got  me a wallet I put stored it on my wallet and   then I saw some other things on coin base I saw  ethereum and coin I was like what are those oh  (03:31) they they have you know the other other  cryptos or whatever they have a chance too I was   like oh okay interesting can I buy can should  I buy them yeah why not and then that year was  
(03:41) full of um myself and him yeah we uh and we got  some other friends into it as well we got we got   into the Ico craze and stuff so basically I  joined for greed purposes I was working in   uh in traditional Finance at the time and  and you know I thought I kind of knew how   things work you know how the Financial system  works and stuff but when Bitcoin came about  (04:03) that's kind of Novel something novel had  no idea what it was going to turn out to be but   uh obviously got distracted by the other things  that that were on offer by you know all all those  
(04:14) other icos and and other cryptos that were being  uh shoved down your throat if you were in that   crypto space in 2017 and you weren't really well  well read in in Bitcoin I was easy distracted we   were easily distracted so we threw our money  at this and that project but nothing ever   stuck obviously then it all crashed and 2018 (04:34) 19 came about and I was like still   into Bitcoin but not really passionately I was  still stacking here and there you know when I   got a good paycheck or when I got like a bonus I  would some Bitcoin and stuff and just mind my own  
(04:46) business and stuff then I think it was 2020 when  the when the whole Co thing happened that's when   I started to pay attention my job went online we  all worked from our homes we all were told to move   and work remotely for my homes and then  I was sat at my desk at home I say desk   was a makeshift desk next to my bed and (05:09) we we had a flat up in in um in   Swiss Cottage like near primose Hill London and  my wife was with our son in the in the other   bedroom and in the other bedroom in the living  room and I remember just thinking to myself uh  
(05:21) what the hell is going on over here what's  all this money printing that's what's all   this stimus happening and I thought to myself  almost working from this computer I could be   do this anywhere in the world so I so I so then  I had the Bing the the light bulb by a moment   and I was like I could be doing this from (05:38) Belgrade so I decided I got up   walked over to the to the living room I was  like Dana her name is Dana Dana we're moving   to Belgrade and she's like okay when soon as  possible we don't know when things are going  
(05:51) to get rough rough or something like that  so that was already by April so by June 20   by June we had uh end of June so V down which  is June June 28th 2020 we moved to Belgrade V   ofan is it's a big day in our history that's  when the serbs won the Battle of Kosovo in   the 12th century and it was the uh Prince uh (06:14) St Prince uh St Prince Lazar neon sa   day that's a big day in our in in our calendar  and the fact that I bought tickets on that day   without realizing there was V done and we  moved there on that day it was uh it was  
(06:26) kind of spooky then sorry how is this link to  my Bitcoin story all this was happening I was   like what's going on with the world what is all  this money printing going on why are we getting   all this quantitive easing why are they why  is why is the market acting irrationally and   I was like you know I have this Bitcoin thing (06:45) I'm going to study it more so I joined   Bitcoin Twitter I bought the Bitcoin standard  and I got studying uh in Bitcoin twinter you know   came across Michael sailor later on that year  I was like whoa who the hell is that that's he  
(07:00) quite eloquent and uh quite the quite the  quite the spokesman for Bitcoin you know   he was was delivering those amazing amazing  speech uh well messages uh save Things book   was a hard digest but I realized okay this  is it I get it now and Bitcoin Twitter with   all the memes and everything I mean some of the (07:18) Bitcoin Twitter is just incredibly funny   but some of it's really serious and there's a  lot of intelligent individuals there I joined   Bitcoin Twitter thinking you know I'll maybe  find something else about other crypto stuff  
(07:28) but I just instantly picked up on the on this  Bitcoin v t uh Bitcoin V cryptocoin sort of   sentiment and I kind of obviously gravitated  towards Bitcoin instantly when when I did that   and uh and next thing I know I'm like oh my God  this is it I have the keys of the future in my  (07:45) pockets and uh everything else doesn't  really make much sense and um and that's when   I realized that I will I'm that Bitcoins will be  a big part of my life so I study more I stacked   more and I sold all the other crypto coins  whatever you call them I had and by 2021 I  
(08:02) was a full-fledged Maxi I guess and there was  moments like in 2021 when they when the China   banned the when China banned mining in the in the  within their borders they had about as you know   there 60% of the hash trade and I saw this and (08:18) I saw the difficulty adjustment um of   Bitcoin playing out beautifully and how how  Bitcoin just decentralized further it was like   cutting off the head of a snake and 20 other  heads grew and I was like that's amazing yeah   that adjustment that kind of linked it towards  the interest rates of of the of the traditional  
(08:37) Finance world how um how when the economy  grows um they rise interest rates to kind of   cool down the economy well when the economy  is slowing down they they obviously uh put   interest rates at zero negative which obviously (08:50) doesn't make that much sense but that's   the way to to Spur the the growth of the economy  that all didn't make sense but the adjustment   of uh bitcoin's big difficulty adjustment when  there's more miners coming on I mean when there's   more hash power coming on and how every two weeks  that's readjusted uh that I thought that was that  
(09:08) for me was one of those big sort of Awakening  moment obviously it was a gradual process   becoming a Bitcoin maximist but uh that was one  of the big ones on that one you know what was  (09:18) fascinating for me it was like I was just  thinking about like if Google lost half of their   data centers like they went down for whatever  right like you it would be catastrophic because   of the the way that they handle resourcing so like  the the resourcing would get loaded over to some   other Data Center and like I mean they couldn't  handle it if exactly that's so what if Amazon  
(09:41) AWS what if what what if they lost half their data  centers it would be catastrophic everyone they're   trying to buy I was I was a big amazon buyer by (09:48) the way before uh before I moved to   Belgrade because we don't have Amazon here so I  was a big consumer like you know kind of instant   gratification saw stuff on Amazon buying  stuff it was easy get delivered to my desk   at work bum bum bum it's so easy when I came  here realized that Amazon's not available oh   I got I got to I got to find stuff I got to just  be happy with what I have and that taught me but  
(10:12) going back to what you say yeah if Amazon if the  if Google if Facebook if um any of those big guys  (10:19) uh lost half of their service they  would they would be there would be mass panic   you correct yeah yeah wrecked wrecked and not not  not with Bitcoin Bitcoin it just Mak stronger and   fragile at its best you know thank you Talib  Talib you know who has wrote the forward to   bitcoin standard but we we know the story  there with with with safein so turns out he   wasn't very antifragile himself for people  that uh are maybe listening to this that  
(10:47) aren't intimately DED into the Bitcoin space  there was a little bit of uh uh a d a dust up  (10:53) between saf moose and yeah um but anyway  uh you know you made this comment about covid and   I think when when I'm getting to the roote I'm  curious what you think the roote is but to me   it it seems like it was uh the whole world just  uh had the Blinder pulled up on the quote unquote   experts through through all of that and it just  made people question kind of everything that's is  
(11:24) that what it was or was it was there something  that was that was it for me as well this it   was so strange living in London then you see (11:33) drips of it happening coming through   the news like in this was in January like Co in in  China some cases here and there you're not really   worrying about it then of a sudden it starts  it starts coming to Europe or something you're   like that's okay that's strange and you're like  okay you don't think much of it and then people  
(11:51) are talking about oh that things are going to  things are going to be locked down we're going   to have to go home and stuff it's like well  but but but but but like this thing only kills  (11:59) people of uh like above 82 years old it's  like it's an 8 it kills people of the average age   of 82 so it's higher than the uh than the life  expens of people and only kills people of of um in   um who have one or two two or more co-morbidities  so it didn't make much sense and we're going to  
(12:17) lock down the economies we're going to close  schools because of this I questioned that at   the beginning but then because of the force of the  propaganda I obviously kind of got along with it   but still it was doing my heading and I (12:32) was at home I remember lying down   the floor like after work with my wife in the room  in in the living living room holding my head and   saying what's going on with this world Bas piece  something's not right something's not right and   we were sort of bought bought we half bought into  it basically then moving to Serbia was quite the  
(12:49) uh I say red pill moment as well as orange pill  for myself but red pill for my wife because I   mean she's a I mean she's a Bitcoin because she's  my wife but I think there's a lot of wives like  (12:59) that yeah exactly but moving to Serbia  and then we saw that how life could be completely   open and that how life was completely open  people weren't okay mask wearing in London   I got to say that people weren't wearing masks in  London that was great but the way they shut down  
(13:15) schools and the way they shut down everything in  London and all the social distancing stuff they   weren't paying attention to that in Serbia  even though they had very strict lockdowns   in April 2020 in Serbia Chinese style uh they (13:28) tried to repeat them in in July after   the part the um the government got 2third of the  Parliamentary of of the of the seats in Parliament   so they had a majority so they tried to enforce  those lockdowns again power grab whatever it   was tried to impose tyranny anything I have  no idea but the serbs being serbs were like  
(13:47) uhuh we're not having that and went to the  street took to the streets a Revolution was   was about to happen and the government realized  they always set their Mark and obviously those   tough lockdown Chinese style darwinian I (14:03) mean darwinian I think uh or Willian   style lockdowns were not were not imposed on us  and instead they had some like not curfews but   like some businesses uh social businesses  would can't be opening after eight or nine   or something like that so but life actually  continued and we were we were we were we were  
(14:20) loving it because we could actually get on with  our lives our son was then went was able to go   to he just turned he just turned two just before  Co so he was able to drop a kindergarten in when   in September 2020 and didn't have to wear a (14:35) mask or anything and it was great I   mean schools were open things were happening and  life was coming kind of going on like usual but   there was still some restrictions but nothing  like the West nothing like the UK Spain Italy   France Germany and those places so that was really  an Awakening moment for me of the of what was you  
(14:53) know you look you look at what happening in  the west and compared to what's happening in   the parts of the East and what people were saying  and it was uh it was troubling actually I found it  (15:04) unsettling but uh that was that's what  also drove me closer to be to becoming a bitcoiner   so you have a lot of conversations with world  leaders and and people in prominent places um   is this something that uh this conversation that  you and I are having right now is everybody in   the world at at the highest levels having these  conversations in your opinion no no maybe they  
(15:30) are in Clos circles but we speak because I okay  so I joined Jan 3 that's a company that Samson   ma started for those list who don't know what (15:42) Samson ma is he's a established Bitcoin   Max Bitcoin Max list who was a big uh executive  for blockstream Block stream one of the biggest   Bitcoin only companies out there and he then  in 2022 uh decided to start his own startup   called Jan 3 January 3 was the reference to  the first block mine in January 3rd 2009 and   down 3 was is a is a company dedicated to hyper  hyperbitcoinization or basically nation state  
(16:10) adoption and spreading the word of Bitcoin  to nation states and trying to speed up uh   Bitcoin adoption all over the world and we have (16:19) our technologies that are that to to to   to um like we have our wallet Aqua wallet and  we do we sell we sell buy and sell Bitcoin and   we're we we work on other some other projects for  for Revenue but otherwise uh our I guess our our   we're known as as a nation state adoption Bitcoin  company which means that I okay so how did I get   in there sorry when I became a public Bitcoin in  2022 after going on a talk show here with my wife  
(16:47) the biggest talk show in Serbia uh the host uh  figured out because we met with him three days  (16:54) before to have a chat just to get to know  each other and he figured out was into Bitcoin and   and when we did the recording 3 days later  he interrupted me while I was talking about   my current traditional Finance job I wasn't  ready well not showing much passion about   that so is now a good time to talk about  crypto and that obviously was a good time   for me to uh to to talk about yeah not not  not crypto it's all about Bitcoin and then  
(17:19) that then went viral because I talked three  minutes afterwards I I kind of went on a  (17:22) monologue about Bitcoin yeah and next  thing I know I'm in my um I'm on podcast my my   first podcast was Prince is once bid in podcast  and then yeah and then on safety in the moose's   podcast which was like for me a proper seral  moment having listen to his podcast he's like   reaching out to me in my DMs and like oh my  God safety is reaching out to me in my DMs this   is insane he's like thinking that telling me how  Bitcoin can bring back monarchies and stuff I like  
(17:47) yes yes that's true and we're um then I'm on his (17:50) podcast talking about democracy versus   monarchy and stuff and Bitcoin it was great then  I get invited to Miami and at Miami I met Samson   and he inst me just like oh I want to hire you I'm  looking for to people for my for my company do you   want to join I was like yes I didn't really  think twice because I was looking to get an   exit out of my traditional Finance job because  at that point two years being a bitcoiner and  
(18:13) working traditional Finance I didn't really  feel that I was in the right place uh so that  (18:18) goes back to your question about meeting  presidents and so and and other people so we do   meet we try to make um conversations with leaders  around the world and people around the world but   it's obviously talk about Bitcoin and number  one having trying to start a conversation with   a leader around the world if we try to initiate  if I try to initiate a conversation by maybe um   initiating a uh starting a a a a diplomatic line  with a leader or somewhere with an embassy and I  
(18:45) say I want to talk to that later about Bitcoin (18:48) that doesn't go anywhere really we no   it doesn't go anywhere people especially  in the European Union other parts of the   world maybe but what we rely on mainly is  connections that I have already and the   other thing is uh I I would say is uh other  bitcoiners around the world other bitcoiners   around the world are passionate hardworking  um good Souls who want OB wants obviously to   spread the meaning and the love and the the  the the the utility of Bitcoin and they have  
(19:22) gone to S speak to their local elected official (19:26) and stuff about Bitcoin and so they've   obviously identified somebody that that's open  to talk about it and then they need some help   so quite a lot of times we get a lot of uh  messages emails coming from random people   or random bitcoiners all over the world  and then we start a group with them you   know Bitcoin so Jan 3 with a certain country  and then from there we can get some meetings   because we have some bitcoiners around the  world have identified a politician a minister  
(19:51) or even a president that's open to talk about it (19:54) and I'm afraid that um unless it's very   private conversation that the whole Co doesn't  really come up yeah yeah yeah no that's fasc so   it's really truly ground Roots people on the  ground that are then kind of initiating that   maybe have a slight bit of access uh to whoever  the elected body is in whatever country and then   it's kind of from the bottom up obviously it's  that's because we totally understand that Bitcoin  
(20:23) is a bottomup strategy it's a grassroot effort  it's it's what I talked about that well as we  (20:29) know it's decentralization it's  finess it's you it's you can't stop it   from from growing uh on the ground but top  down there's not much help happening there   so we believe that there is a a a need for maybe  some individuals or some companies or people to   work with some leaders around the world and to  basically understand Bitcoin because they can   reach a bigger audience they can able to Market  Market Bitcoin they can understand that it's good  
(21:00) for not just for them because I know leaders are (21:02) very you know they look after themselves   but also they can have to look after their Futures  and they have to look after their people you know   if they want people to vote for them then we tell  them that bitcoin's good for them bitcoin's good   for for their people Bitcoin is good for society  Bitcoin fixes a lot of issues it doesn't just   fix money but it fixes energy it fixes politics  it fixes so many parts of our lives and we have  
(21:23) to we have to we we need to sell this to them  and there's ways of like strategies that we can  (21:29) engage with his Le with with with  um with uh jurisdictions I say or um local   authorities around the world and obviously the  the buou example is going is a very rare one I   mean I think that's not going to happen for a  while Never Say Never After Bull Run you never   know what's going to happen but that for the for  for viewers who don't know what what what b b is   the president of El Salvador he adopted Bitcoin  in 2021 alongside the dollar as their n as their  
(21:56) legal tender so s Salvadorans are free to use the (21:59) dollar and Bitcoin um as their as their   currency and they were given a a wallet  to by the president with $30 in in that in   that wallet in Bitcoin and they're able to buy  and sell Bitcoin freely and this was beautiful   but what he did right bu was give them the  option use either Fiat dollars or Bitcoin   um yeah the CH wallet has some te some teeing  problems in the beginning and stuff there was   some problems obviously government doesn't  doch Tech W but you know it got it got there  
(22:30) and it works and now El Salvador is thanks to (22:34) his other policies of taking down the   gangs and being and now turning into the safest  country in the world and opening up tourism but   also his technology laws of of of T making it  less tax less taxable on um on most Industries   there that it's become a very competitive country  so it's not only safe but it's a very competitive   State and as a result people are moving back El  salvadorians are moving back and uh and people are  
(22:59) the world like I want to go I want to  be I want to live in El Salvador because  (23:02) they're offering me x y and Zed and  it's it's a place that's that's what what my   country is not offering so anyway I think El  Salvador as an example I think hopefully that   will be picked up and we see the Ripple effects  of Salvador happening in other Central American   countries but it's still tough because they don't  have um a bchan mo the Buchan moment was that he   was uncorruptible he was rich and when he came  to power he could easily do what he want what  
(23:31) what what was needed and luckily he was a (23:33) good player um a bitcoiner and and   Bitcoin maximist and did the right things  but that happening in other countries is is   difficult especially with all these elaborate  democratical or tyrannical whatever systems   happening around the world yeah so the other  two strategies that we try to focus on as well   is just as a store of value I mean that's what  Bitcoin is technically right now I mean uh as   a means as a currency yeah it's going to be  there one day um uh but I think right now I  
(24:03) mean this is the Sal argument that Bitcoin is is a (24:05) store of value it's uh doesn't want to you   know it's Al he doesn't want it's he doesn't  want to um I say he many people think it's   happy the way it is right now you know alific  and all that yeah and so we've trying and and   advise governments or people to and not just  governments but also companies and stuff to   to to hold it on their balance on their balance  sheet as as as on the treasury because it's better  
(24:31) than holding cash just what Michael saor says if  you any basically Michael sa is much better at  (24:36) talking to people about this and I am  so store of value is another thing the other   thing is energy Bitcoin fixes energy Bitcoin is  an energy back money so Bitcoin is looking for   Bitcoin miners are looking for the cheapest  form of energy that is good for civilization   when you're looking when you have the incentive  of something that makes money that's looking   for the cheapest form of energy that's going to  bring you good um energy and then how to put it  
(25:04) basically the cheapest forms of energy out there (25:07) are stranded or wasted energy and these   are in places where in in electrical grids  that have that have inefficiencies where   Bitcoin miners can then plug themselves into  those stranded wasted inefficient areas and   we uh you can start some power purchas agreement  with the electrical rid with the state or so forth   and they can start mining Bitcoin when that grid  then has some stress through hot weather like it   is today in Belgrade it's 37° that's going  to cause a lot of people to turn on their  
(25:38) air conditionings that's going to C stress (25:39) on on the grid that can lead to   some blackouts or when it's freezing it can be  minus 20 or 30 here degrees Centigrade that is   and that's going to put some stress on the  grid as well then Bitcoin miners can then   sell the electricity back or just turn off their  miners depending on the agreement they have back   to the electrical grid and stop El it stops  um rolling blackouts altto together you have   fortified to strengthen that grid completely  also for Renewables whether you're into it  
(26:07) or not I'm not into obviously wind and solar (26:10) but other Renewables like hydro and   and geothermal it's pushing people to find clever  sources or ways of finding or or using uh Hydra   when it's not being used to to to to to convert  that energy into money and then that money is then   used to uh money as in Bitcoin and when I say  money I think that I think Bitcoin that money   is that Bitcoin is used as for infrastructure  projects and and so basically so what we're   doing is we're try to to create joint ventures  with other with other with other states with 
(26:42) (26:43) with with uh with other local authorities  out there and being in a joint venture with with   the local authorities some government when they're  involved in Bitcoin then they will tend to be   kind of to bitcoin and then they will tend to  understand what the values of Bitcoin is and then   they will then be better and regulating Bitcoin  yes Bitcoin doesn't need regulation but the rest   of crypto does um and maybe they will stop you  know create better regulations and differentiate  
(27:07) Bitcoin from the rest take take away capital (27:10) gains tax from Bitcoin allow it to to   to flow freely so that's on on the energy front  I think in like five to 10 years it's going to   become abundantly clear to the rest of the world  how uh how demanding AI is for energy consumption   and I I think when we look at the existing uh  energy grid there's so little nuclear kind of   in the mix as a percentage um and for where  I think we're going with respect to Ai and   the energy demands you're in this you're  in this unique situation where you almost 
(27:46) (27:46) have like a chicken and egg scenario  where you're going to have a lot of countries   around the world that don't want to like build  out like this really intense infrastructure to   call it nuclear because there's just  not enough of a demand signal locally   there at the moment based off of the population's  demand to build it and then hopefully the AI data   centers come or or whatever right and I think  when you look at what Bitcoin really offers it's   offering a turnkey if you build it you can stick (28:16) these things here and immediately have  
(28:19) somebody that's willing to buy all that  excess energy and then you can bring in   the artificial intelligence data centers  and now your country that might not have   been real competitive on the AI front for  for running all these models locally in in   whatever jurisdiction we're talking about  now has a has a pathway to be competitive   on the global landscape with respect to Ai and I  don't think people were talking about this today   no that's a good point yeah yeah I think in (28:47) Europe that's could be now right now  
(28:50) maybe in the states less so I'm not too familiar  the states Europe is suffering energy- wise yeah   um especially in the EU we have these hor these  terrible laws coming into effect these directives   coming in from the from from the from the EU  commission to to try and move us to uh renewable   energy sources and a lot of a lot of subsidies  being pumped into solar and wind and as we know   solar and wind are not good for baseload energy  completely terrible so there's a there's a there's 
(29:22) (29:22) an abundance of now Solen wind but these  guy these these types of energy are not good so   this is destroying energy capacity Plus with  the conflict of the conflict with Ukraine and   Russia where a lot of Europe got its especially  Germany got its energy from Russia and now it   does not get its energy from Russia and we know  the story about nordstream 2 and who blew that   up anyway let's not go into that but we know how  what these it's it's Europe is shooting itself   in the foot right now with energy so we are (29:52) paying Sky higher prices for energy  
(29:54) right now and that shouldn't be the  case we could have so much abundant   energy here we have so many good Hydro sources GE  geothermic sources in Serbia alone I want to get   Serbia to be an energy autonomous independent  Sovereign thanks to its ability for uh for its   geothermal we are sitting in so much geothermal  activity but obviously it cost too much you need   to lower your time preference to to to access it  but if you hook it up with uh if you side by side   it with it let's say bootstrap it with Bitcoin (30:24) mining then we're talking but that's  
(30:27) something for for the so do do all these people in  the elected officials in in the European Union do   they just have to experience more pain in order to  come to this realization it's a crazy one because   right now nuclear is being it's been shunned  completely shunned especially in Germany it seems   like the coal lobbyist in Germany are the ones  who are pushing the left lipto to to say that coal   is a better option than nuclear because Cole has  come back with a vengeance in uh in Germany look I 
(31:02) (31:02) don't have much against Cole but it's  a dirty it's a dirty source of energy it does   pollute the air you can obviously stick some  some some filters on it and clean clean it up   but Germany has great potential for nucleus  so there's anywhere in the world really but   especially Germany but what happened in Germany  instead of them going nuclear which is much   cleaner they've gone to coal and this has been  driven by by by a lot of well say the Germany   power structure is that the greens have some (31:28) some some of that are in the Coalition and  
(31:31) you would expect that with greens in the Coalition  that they wouldn't go for uh for for for for coal   but apparently that's the case so apparently  coal is is is not as bad for the environment   as nuclear um but Philip anybody who's done even  the smallest bit of research uh you know two or   three layers deep on nuclear they understand that  there are uh tremendous safety changes that have   happened over the last call it 20 or years on  nuclear but I think it's such a divisive word 
(32:02) (32:03) and the public is so superficial in their  in their knowledge and understanding and there's   no type of campaign that's being pushed out  there to properly educate the populace as to   the risks and the the benefits of nuclear that  I I it's such an easy political uh smashing of   the hammer of like we're not even considering  this right as you said that word nuclear trigger   a lot of people it's the same thing as like  I put up there with abortion basically you   you would get the similar divisions on that (32:35) but I I guess I don't know what it is  
(32:38) I don't know I'm thinking that they know that  I think someone knows that nuclear could save   us completely and it's yeah almost like a free  energy source yes it requires investment well   once it gets going it's beautiful and you do it  properly but look at I think people look maybe   people looking back at Japan in 2010 when when  when uh Fukushima was it Fukushima blew up yeah   that was that was quite a horrible incident but  that was their fault for putting for putting a  (33:05) plant right on the water like right  on top of the Pacific Rim where there's a lot  
(33:13) line yeah right in front of where tidal ways  can hit it and stuff but we're talking Germany   man we're talking like you know almost almost  landlock country right in the center the only   thing that they get is the occasional I don't  know hail storm and I think I think nuclear   power plants can can withstand a hail storm  and H you know where this isn't you know I   don't I I think it's ridiculous that we haven't (33:37) gone to uh Gone nuclear I can understand   that countries like Serbia that don't have the  resources will not go for nuclear because it  
(33:43) requires a lot of Investments and stuff but uh um  that's why I'm that's why I'm going for geothermal   we have the geothermal activity over here we just  need the investment and the Bitcoin miners to   boost trap that but but nuclear was the biggest  energy source in France they started to try and   shut that down but France was a leader in in in  nuclear energy and it's like that's not being  (34:05) studied or looked at or or or or or um or  appreciated enough I think France they I wish that  
(34:13) the model for France could have been replicated  in other countries we wouldn't be in the problem   today because our energy bills all over Europe  are Sky High when I when I heard you say about   it not happening in Serbia I'm just thinking  about you know if if you could get a group   of politicians that could lay down some type of  public partnership with one of these large mining   companies to uh work together in building the (34:43) infrastructure for the for the power   cult nuclear um and then they get some type  of uh fixed rate energy or percentage wise  
(34:53) or or whatever based off of the you know  let's say they they guarantee a price of   four cents per kilowatt hour and then maybe  it goes to within a five cent after a certain   time frame after that but there's something that's  like put in place with the with the minor the the   buildout is enormous from an energy perspective  and then the miners are then you know cooperating   with the state to say we will soak up at (35:18) least 30 or 40% of this excess uh within   a certain time frame and there's this relationship  that is set in place that gives the state  
(35:28) this incredible resource the power and they're  also uh able to set up in and from the minor   perspective like one of their biggest risks is  the the political risk of being thrown out of   a certain region with after they spent all this  money building the infrastructure and putting it   all in place and so there's this opportunity for  this win-win relationship between the state and  (35:52) miners that they get the duration  of guaranteed we we will not kick you out   for 20 years or whatever it is right and but  that requires that requires having to having  
(36:05) to go against the shortterm of the democratic  rules uh not just in Serbia but in most parts of   Europe and they don't think about the long term a  nuclear power plant is not it's not something that   you build in four years five years in in a one  election cycle so that's that's where the issue   is I think it will require some private Ventures (36:30) maybe or it will require require a good   State actor for that to happen but it can happen  it it will H it will happen there was talk about  
(36:39) nuclear here before but it's kind of Fizz all that  I don't know what the latest is basically but um   I yeah it's something I'm not that that uh read up  and should be yeah but I think it can yeah I think   can happen one of the most common questions I get  asked from family and friends is Preston where   do you personally buy your Bitcoin from  and the answer is really simple I buy it  (37:02) on not only can you easily buy  Bitcoin with zero fees on recurring orders you  
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(38:49) (38:48) com stiip to schedule your   free consultation call don't delay in securing  your generational wealth the right way opt in   for security overc convenience and protect your  future your family line will thank you yeah but   I think you bring up an interesting point  it seems like politics all over the planet   are heavily biased towards this short-term  thinking or this time preference right um does   does Bitcoin change this with time uh you know  are we talking 20 20 years or we call calling it   multiple decades before the impact of bitcoin's (39:27) time preference starts rubbing off into  
(39:29) even politics or is it something that never  penetrates that I think it will penetrate at   some point us firstly it's the sentiment of  Bitcoin as you see Bitcoin is it's it goes   after its harving cyle after it harving it  becomes scarcer it start to flow the ratio   goes up and then it starts to become the price  goes up and people start to uh it gets fomo and   stuff and that it it Taps into the human psyche  of of sentiment you know fear of missing out   and all that and that's part of what drives (40:03) adoption right so that's always going  
(40:04) to be a player but we have seen recently  in the states that Trump for example an   old uh former president and hopefully could  be the next president saying things like oh   I'm going to uh protect your self custody  which is huge like the fact that he said   self- custody and I'm going to protect your  ability to self- custody and I'm going to stop   Elizabeth Warren and her goons from touching  your Bitcoins plural I like the way he said   bitcoin's bural that is that is huge so obviously (40:40) they're realizing that there's a lot of  
(40:42) crypto guys I mean I have to say it but that's  because a lot of them a lot of people there's   I don't know how many Americans 50 70 70 million  Americans that own crypto who are who are voters   so if you're not kind to these to these guys  you're going to lose a lot of votes so this is   what the Biden Administration got to wake up to  obviously they were not kind to Bitcoin in the   last four years um they did the bare bare  minimum and if anything they were actually  (41:07) trying to destroy the mining industry  in in uh in in in the US and impose those heavy  
(41:14) 30 20 or 30% taxes on on all mining activity  just follow Pier rosha on that it's fantastic   he's great at at updating us on that on  that on that whole uh um Shenanigans of   of of what they're doing but they're now with  that with Trump saying no I'm going to protect   your Bitcoins now mining is actually good for  for the country now we should be the bit the   best Bitcoin miners we're going to mine all the (41:38) Bitcoin in the world we are going to be   number one in the Bitcoin that's fantastic  that's what it should be like that's what  
(41:43) every country should be like because it's the  first countries who adopted so El salador way   ahead of everyone they're going to me they're  going to be Miles Ahead civilization they're   going to be like you know they're going to  be like I don't know like in uh in that film   June and something like that they're gonna  be those guys like running the whole place  (42:03) I think you're I think this next cycle  is really going to highlight how uh Progressive   and and Forward Thinking UK K is in in another  exactly and so he's lowed his time preference  
(42:16) so he benefits and he's played he's played the  game theory like way before anyone so he's he's   cool he's he's he's awesome but now with other  when I'm talking about other nations I think   America now we've had Trump we even had RK Jr we  had a lot of other senators all you know we have   Cynthia Lumis we have Ron Paul kind of (42:37) you know advocating for it but   especially cth Lumis we have some big players big  political players in America are advocating for  
(42:45) Bitcoin and that is huge and especially coming  from Trump who was all anti- crypto and so all   all US dollar which I understood his position  because he's just you know American number one   which is a good position to have because  actually it had it led to a better foreign   policy but let's not go there um that uh yes  so now we have American Presidents talking   about Bitcoin and that's fantastic so I (43:09) think that Bitcoin is going to   be on people on uh candidates uh Platforms in  the next 10 years you're going to have but on  
(43:18) average about two election Cycles across the  world and you'll see by this second election   cycle I think Bitcoin is going to appear in a  lot of their uh on their platforms because they   realize that people are becoming aware of the F  that is the current Global Financial system of   what uh they will start to learn about fractional  Reserve lending and banking they will start to   know understand what Fiat is all about and (43:47) how it's created and they will start   to think you know maybe I should take uh take  sovereignty of my own money and stuff so they  
(43:55) will start to look at people will start to look at  gold and property and stuff like that but a lot of   people will actually wake up and start to study  Bitcoin and realize that that's the best option   so that's happening at an incredible rate um as  an incredible rate I think right it's plateaued   a little bit as in it's still increasing over  the bare market and stuff but now we haven't  (44:16) even haven't seen retail hit the  market yet in uh in this run but we've seen  
(44:22) institutional money hit the market big time that  was thanks to obviously as everyone well most   view listeners here should know that in uh January  early January I think it's January 11th about 12   or so spot e Bitcoin spot ETFs were approved in  the United States and that's huge when gold spot   etss were approved in 2004 that 5x the price  of gold um the years afterwards with Bitcoin   approved spot ETF that hasn't shown we haven't (44:50) had a a three uh we've had like the  
(44:52) 3x now no I think it was a I want to say it  was like around 25 or on the approv about 35   it's about 35 so it's definitely 2x but we're  still in the beginning you know we're still   right at the beginning of that right now and  we still are yeah I think well basically that   institutional adoption um that was a big part  of institutional ad option is bot ETFs coming   coming coming in I don't agree with it it's not  Bitcoin it's obviously you're not getting the Expo 
(45:22) (45:23) you're just getting exposure to the  thing but not actually buying the thing which   is something I don't support but in terms of  gaining um ging um traction and people becoming   aware and also institutions that weren't able  to buy the thing before can now do it because   they're able to buy ETF start a financial  product in in the old traditional Financial   world then that's that's actually bringing  a lot of money into into Bitcoin it's going   to drive the price up um yeah I think that's (45:50) going to that's going to then lead to  
(45:52) a huge uh Supply constraint shock soon because  we all know that Bitcoin had a harving on the   20th of April I hope it was I don't think it  was 2040 it was a 2140 depending what timeone   you were in but um that led to uh being for  from 900 coins being produced every day to 450   and now these ETFs are sucking about sucking up  about two three or 4,000 coins a day so the mass   is suggesting that there's going to be a huge  supply shock soon yeah and and as Samson says  (46:25) it we're going to get the uh the Omega  candle or or as Adam back you know the Godzilla  
(46:33) cand candle or something or as Max C has the  gold candle or something like that but um and   that's when retail comes in and stuff but uh  yeah it's going to be interesting that we're   going to see going back to time preference as  I think what people will start to I have now   loaded my time preference after learning and  studying about Bitcoin and actually that I'm   um able to put my wealth away in something that is (46:57) indestructible that has all the properties   of money you know it's um it's durable it's  portable it's spongeable it's most importantly  
(47:08) scarce I think and it's their acceptability now  is something that it's it's had 14 15 years of   of of of of of of a track record now you can say  that it's actually it's it's viable it's there   so it takes all those boxes whereas gold only  takes Tak a few of those boxes obviously will   gold is not very divisible yes it's very very very (47:30) durable but portability is a huge issue   with gold and that's what led you know gold  standards ultimately lead to a Fiat standard  
(47:37) so Fiat obviously not scarce obviously but  obviously very d uh not not durable I don't   think very doable but very very portable and  very divisible but when it comes to scarcity   terrible and that's what's killing us all you  know that's what's giving the creating the cost of   living crisis um because they can't stop printing  that uh so I think people are going to wake up  (47:57) up to this and and and I've woken up to  it I think it's it's it's something that you know  
(48:01) we can store our wealth in something that's  that that they can't take away from they can   look at it they can see it because it's there  you know your suit ominous you know your your   your keys are kind of open to the public right  but they can't do anything yet they got to come   and take it away from me with a with a with a  a bloody big wrench but you know you have ways   of of mitigating that and you have ways of (48:20) doing um multi and stuff like that   and but just so everyone's aware I kind of lost  my Bitcoin the other day I I was out in a boats  
(48:27) and I've lost it all so I got to start from  scratch but I know very I know very well that   I'm stacking again you know I have very let  but I know very well that you know even if I   stack now we are still super super early so yeah  I love it uh okay this this question is going to   change gears a little bit but this was when I'm  when I'm coming up with questions this was my  (48:48) favorite one to ask you um what is the  best part and the worst part of being a prince   big PS for people that are that not seeing the  the YouTube feed Prince Ville of space was like  
(49:09) uh do I have the answer this cheers Che start  off with the best part start off the best uh the   best parts you know it's not easy being a prince  people think it's easy but hey look I'm going to   I'm I'm going to I'm going to try I'm I'm going  to I'm going to play victim over here I'm going   to say I'm going to yeah this is not a very (49:31) Bitcoin thing to do but look this is   also why we all should be bitcoiners because  the worst thing about being a the best thing  
(49:40) about being a prince can also be the worst thing  about being a prince the best thing is yes so the   we were okay my family is the I'm from the Cara  georgevich Dynasty our dynasty was born from K   Jord who was who started led the first Revolution  um Uprising I should say I don't like the word   revolution that's a communist word I think who  started an uprising against the Ottoman Empire in  (50:07) 1804 and Serbia was on the Ottoman Empire  tyrannical rule we were slaves to them essentially  
(50:13) for uh for centuries for about 3 400 years but  gaj Georgia in 1804 was an afan pig farmer like   livestock Merchant and in in um the shadia region  which is very close to Belgrade in he gathered um   him and his uh and and some some other serbs got  together in a meeting in which is 15th 14th they   had the meeting on 14th of February 1804 where  they decided that they would start the uprising   against the timan empire he was actually chosen (50:54) um he wasn't the first or third or   second elected he was a third elected but they  went for him because the first elected and the  
(51:00) second elected said they had some conflicting  interest this and that I'm not going to get   into the details but it was chosen that K  Georgia would lead the Army um um to to to   to uprise against the Ottomans because of  his let's say he was a he was quite a Bas   individual he was over two meters tall uh Jorden  means black George in Turkish uh he was a good   decision maker you know he would take make harsh (51:28) decisions and stuff so he was had he had   the right the right makeup for for a good General  in this situation where the odds were stacked up  
(51:35) against us but he managed to lead an uprising and  gather enough strength that liberated Seria out   of Ottoman Rule and then you could see in the map  in the old maps of Europe that the otoman Empire   with big like blob over most of Southeastern  Europe then in 1804 in the middle of that sea of   Ottoman Empire this still Boop Serbia just appears  out of there that's kaj Jord and leading the the  (52:02) uprising um then there then that kind  of failed after a while and then there was a   second ey Uprising by the ovich dynasty um and  then that properly secured serious independence  
(52:14) from uh from from from the Ottoman Empire we  were principality under the Ottoman Empire but   uh what led after that is that there was  two competing competing U dynasties which   was yanovich and the korovich dynasty uh the  brovich were by the end of the century by 1902   there was uh a a Rego side they were killed  off because they weren't playing well they  (52:37) people blame that on the Carro Geor ofices  but that's not true um but King Peter I first was   then put to power again well not again he was put  to power in 1903 and he was anyway this is going  
(52:50) to hist what what I'm trying to say is that  we as a family we LED we uh we um we we uh we   were the leaders of the country we established  uh democracy I hate to say it but we established   a democracy that worked it was actually more of  a more of a like a constitutional monarchy but   with more rights to the monarchy than to the other (53:11) side the the constitute to to to democracy   so it was like a bit of bit of an absolute and  and monarchy absolute monarchy and Democratic   rule at the same time um this then led to the  the creation of Yugoslavia because Yugoslavia  
(53:27) King Alexander King Peter's first son  created Yugoslavia as a way to protect   the region against the growing threat of the  austan hungarians and basically we would this   was uh this was during the time when Yugoslavia  Serbia was very the monarchies were were creating   a lot of wealth and it was a very good (53:48) environment for asset creation   money was backed by gold and people were making  uh making lives for themselves and things were   more or less stable apart from time times in the  first world war and the second world war but this  
(53:59) is pre World War post first world war and now  PR Second World War uh we had accumul we I say   accumulated we had um done a lot of business we  owned some gold mines we did a lot of uh trade   here and there and we built a lot of properties  and we had palaces that my great-grandfather   built here in Belgrade and we had the palace (54:20) in downtown and stuff that he gifted to   the state to the people of Serbia and stuff like  that and this was all done through private money   and but we had good strong private property rights  that's what's was important is the monarchy is all  
(54:33) about having strong private property rights what  then happen second world war is after the second   world war was that socialism communism came about  and they have very poor or little or nothing no   property rights and everything was taken away  from us confiscated even until this day it's  (54:50) still confiscated so had I been born uh  pre Second World War I would have had a lot now   born post Second World War I have nothing so we  were yeah that's that's the thing so that I think  
(55:05) I think you know some some princes out there  royal families are in better better uh have a   I say not better off but they obviously have a  little bit more Comfort a bit more luxury they   are they are part of the system they are um they  they have they have properties that they've been   inherited because that's how good royal (55:26) family monarchy how descendancy   how succession works is youd look after your  property for your sons and all that and when   it came to the carage Georg family there was  nothing handed over to me so I've got to fight  
(55:36) for this again but that's why maybe I became a  bitcoiner and that's maybe the good a good and   bad thing that's it's B turned me into someone  who's who is a a sta um supporter and advocate   for private property rights yeah a freedom  figher and that's why Bitcoin resonated so much  (55:56) for me because as we know very well that  Bitcoin is an example of property that it's almost   impossible it's that you can take that you can't  take away with no dispute when you buy Bitcoin  
(56:08) you're buying something that you can't that it's  indisputably yours when you're buying land you   could go back and you can argue with someone  that you know like two three centuries ago this   land used to belong to X that or that Nation used  to be here and blah blah blah and you can bring   all this sort of stuff up but when it comes to (56:24) bitcoin no the the definition of private   property of Rights and of what ownership I should  say is much more clear when it comes to bitcoin so  
(56:36) this is and I think that will help with uh with  future uh arbitrary processes and law processes   that I think that Bitcoin is going to wake up a  lot of people to what what what the value is of   of private property and I think that's what  the good thing and bad thing about being a   prince is in my position that's me in Philip  as being a prince that I I I was born with  (56:57) essentially not okay I was born in the  in the United States I don't know people know   this uh my family not too wealthy but you know  they had you know we were went to decent schools  
(57:07) and all that and they they gave us a decent life  my parents separated I went to uh live in Spain   with my mother she's a Brazilian Princess uh  but then my father remarried to to to to to   some random Greek and we had to move to London  to be with him went to boarding school and then   went to University then all of a sudden Serbia (57:25) we were allowed to go back to Yugoslavia   2001 when after mosovich got AED but we were  allowed to then live in the palace but the palace   is still owned by the state still confiscated  by the state um now this is where it gets you  
(57:41) know like debatable where the P should they be  owned by the people should be owned by the family   I mean I'm obviously for the for the on on the  camp that it should be owned by the family and   it we should be able to do what we please with  it but no way am I going to sell it away just to  (57:55) just to just to get money and leave the  country no I'm fully invested in this country I   will find ways of of mon monetizing that property  or figuring out ways of of of of restoring it and  
(58:07) he has a lot of work that needs to be done um  but doing so uh I don't know I'm going with   this conversation but yeah basically what I'm  trying to say is that in my position it's great   being a prince you get a lot of attention you  have a and you have a spotlight and if I think   I hope I have good intent I have I have (58:24) I have good morals and if I have   good morals and maybe I can use that in into to  help other people but then I guess if you're not   a if you're a bad actor if you're spoiled or  whatever and then I'm going to say that maybe  
(58:36) there's disadvantages of being a prince is that  you uh that you get attention and you obviously   in a Fiat world with all the Fiat uh perverse  incentives that can be that can actually go   negative and you end up just being one of these  instant gratification players and all that sort  (58:50) of stuff you know I I interview a lot  of people and I've heard through the years from   people that are just Ultra successful they say  to me Preston it's not about the destination   it's about the journey and it's about the the  trend of that journey and when I hear your story  
(59:07) and I hear what you're what you're explaining  I'm thinking to myself like what an incredible   place to be to to be able to kind of point the  attention you're talking about the attention   that naturally comes with the position but (59:23) also being so based based on your   background and what you've what your family  has experienced through all of this to be   able to shine a light on on property rights  and to shine a light on what real money is   and how it benefits humanity and you wouldn't  have that you wouldn't have that opportunity  
(59:46) without the the the hardship that the family has  experience through right through everything that   was kind of taken away through through the years  in the past and going through socialism and all   these things that the the hardships that (59:59) were endured and you know it's   almost like if you were going to play a video  game and uh you could start off with like all   these skills and it was just kind of easy to  kind of like go through the whole game and you   just completed it it's kind of like you got  to the end and it was like well there was no  
(1:00:16) Journey because the journey was just like really  simple when you kind you could just play it and   just win and right games like Zelda did so well  it must because they were proper Journeys they   were proper Journeys the hero's journey (1:00:32) right the hero's journey yeah   exactly love I'm not saying that I'm hero but  I'm saying that it's tough I'm we are all of   us yeah you you me all those bitcoiners  non even non even non- coiners people   who are just aware non coiners or pre-  coiners who just aware of what's going  
(1:00:49) on out there but the number one issue  that we are all facing over here is our   Invasion and or or the the the the demolishment I  guess is the word of private property writers that   it seems to be happening at accelerated rate over (1:01:11) the last 70 years since the second world   war some places more than other places and I think  even owning private property now in some places   what you call free comes with a lot of uh what's  the word well it's not really yours if you if if   it's taxed Inside Out owning land for example  even in the states like say only land in places  
(1:01:35) in Britain I don't own land here one day maybe  uh but it comes with you know your with with all   these taxes that you have to not just buying  it or selling it but maintaining it and and  (1:01:48) and all the duties and they have to do  with the land they just they don't want you it's   like it's there's a it's yeah it can't just be  yours and this is where Bitcoin fixes that and   I how can that help then with other forms of of  ownership and I think it can because it brings  
(1:02:10) it shines a spotlights on on how arbitrary  ownership can actually be and I think that um   courts laws the law the laws process is something  that's been destroyed I mean I would say ever   since the first World War I think in a mon (1:02:26) years people would say oh yeah okay   I I would say that in the monarchical years  of Europe you would have better court systems   uh cheaper that's the most important thing is  cheaper court systems in those countries that   had uh kings that understood that if they would  want to hold on to that power for longer they  
(1:02:47) would make sure that that common man was  able to defend themselves as well as the   elite and what we have now so post first world  war that was HP what happened during the first   world war and afterwards is the destruction of (1:03:03) monarchies and the introduction of uh   Democratic republicanism is that a law system  became much more complex and when they become   complex they become more expensive when they  become more expensive than the common man finds   it hard to defend themselves so then when you then  introduce a system of shortterm short termism like  
(1:03:25) of election Cycles to these complex law systems  you're going to have systems where invested   interests of those who have the elite will be able  to pump money into into into maintaining their  (1:03:39) power in in those short election  cycles and they will dominate the law process   whereas those who don't have the common man will  find it very difficult to have a say and defend   his land property rights and all that and this  is what's been destroyed away and I think part   of this is is what you see with land with with  ownership with uh with rights and all that and  
(1:04:03) and that's why we we live right now in a very  divided world but this is what uh one way of   explaining is also the continent effect as well I (1:04:12) think that's why making it very um the   Canon effect I should say the Canan Canon  is that he was a French Economist 1840s or   50s and he noticed that though that this an  economic phenomenon of that those who who are   closer to the money printer that those Elites  who are closer to the wealth of creation wealth   creational money printing uh favor better than  those who are further away from it of course  
(1:04:40) that makes sense but what happens is that those  who are close to the money printer get money   when it's fresh at the lower interest rate and (1:04:47) they able to reinvest it and they're   told to re to obviously use it to to reinvest  in the economy and K ke would say yeah trickle   down economics you should you know you should  practice that but that doesn't work instead   what they do is they actually buy real assets  so they'll buy property gold and now Bitcoin   maybe um so when that when it goes down  further do down further down the food  
(1:05:08) chain when it gets to the common man he can't  borrow money at the same rate as those big as   those big Elite he has to borrow at credit card (1:05:16) rates which is like 20% or something   which is ridiculous not only is money hard cheap  more expensive to borrow then but it is also infl   has actually taken a has taken more of a  hold since that money was first created   from that when the elite actually was given  that money so basically that actually leads   to the inequalities that we have today that  added I'd say what's the word um multiplied  
(1:05:46) uh exacerbated by the destruction and comp not  destruction but the the the further complexity   of our law systems has meant that the Common (1:05:55) Man has really missed out over the   last century and is suffering big time but you  know apparently we're all we're okay all these   distractions third world war co uh LGBT  you know all this bird flu all that sort   all the above basically conflicts here and  there that's uh and and we know and what the   real issue is that the real economy and this  is what happened during Co is that the real  
(1:06:22) economy and I think it can be very accentuate  what what happened over the last 100 100 years   can be accentuated what happened in Co is (1:06:30) that that power grab was that the   mom and dad shops the brick and morar shops were  the ones were told to shut down whereas the big   shops the big big companies you're talking  your Facebooks Amazon your uh Wasing I'm not   Facebook's not a good example because they will  function no matter what um your uh your Amazon's   your um Walmart and things like that and we're  we're all able to function properly continue mhm  
(1:06:56) but whereas your mom and dad's Dro your  brick and water were were were were told  (1:06:59) to go home close their shops given  some stimulus um but that stimulus obviously was   just was just a distraction and those that real  economy that brick and motor economy absolutely   got leveled got destroyed so we had this k-shaped  recovery and this happens all the time destruction   of wealth and then the elite wealth the the ones  who have the ones who are in control the ones   closer to money printer the ones who actually  have better rates all that continue to grow  
(1:07:32) higher and we saw a huge expansion of wealth uh (1:07:36) postco and it's only going to happen   again I don't know when but it's going to happen  again and it's kind I mean now we're I I don't   know what the next thing is what is the next  thing right now um World War III I don't know   um bird flu bird flu you thought you said bird  flu yeah I mean but they tried bird flu in 2002   or 2009 they tried bird flu I have no idea but but  they need something to blame they need something  
(1:08:02) to blame because financially the numbers  that are Brewing into the fall here are like  (1:08:08) they're going to need something  right your point they're gonna need something   in America is that the labor markets there are  absolutely nuts and what they're telling you   is one is not what is actually really happening  you follow people like I don't know if you follow   people like Edward Dow um Edward Dow he's not  a bitcoiner yet but he should be he has pointed   out that uh there has been a increased number of  disabilities ever since something was introduced  
(1:08:37) in 2021 and so Biden comes into Power 20 (1:08:42) okay he voted in late 2020 he said   uh so he he comes into Power 17th or whatever  19th of January 2021 and he inherits a a a CO   economy where everyone's been told to go home and  jobs are at in uh unemployment is at record highs   then obviously he opens the markets up and he  gets he gets the he thinks he can take the credit   for for having all these drops come back but no  because because he just inherited um unemployment   through lockdowns yeah but then what has happened  is that unemployment has hasn't actually reached 
(1:09:18) (1:09:18) back to the peaks of preco to some  margin and not only that the quality of of   employment is terrible we have people on one or  two or three jobs um making absolutely nothing   and not make being able to make ends meet  also with cost of living crisis thanks to   all the quantitive easing money printing that  happening but what I'm saying is that Gap why   is that Gap a lot of disabilities that that  have been that have come about and this was   thanks to some things that were mandated in  2021 which is something that we should really 
(1:09:48) (1:09:48) look into and make uh Make Some Noise  about oh yeah Prince Phillip thank you so much for   making time and coming on and and your response to  the one question that I wanted to say this uh back   when you said I think with speaks volumes about  you and what I've seen from interacting with you   in person and I just walk away from it every time  and I'm just saying he has so much humility for a   person who uh just lives this really interesting  life and um I just can't thank you enough for  
(1:10:21) coming on sharing your your stories and just being (1:10:24) just very candid with with the audience   and and putting it all out there and just uh you  know your contributions to the Bitcoin Community   are just deeply appreciated by everybody who's  ever interacted with you and and you're just   like such an awesome person in this space and  I I love calling you a friend um I also wanted   to throw this out there you and I had thrown  around the idea of maybe doing something in   Belgrade in Serbia at the end of August I don't  know if you still know I'm I think we should 
(1:10:53) (1:10:53) do something first thank you so much  for those kind words really no it means a lot to   me just like like to say that uh being a Bitcoin  in Serbia is not easy we are uh I think Serbia has   a lot to offer Bitcoin and Bitcoin has a lot to  offer to Serbia yeah uh we have a lot of technical   Minds here a lot of quantitative Minds here which  is great but uh the the current sentiment here is   that it's very cash orientated cash cash is King  and try and and when Bitcoin comes when people  
(1:11:25) are exposed to bitcoin they think  oh yes there some digital thing  (1:11:29) created by the KGB or the MI6 or the  NSA and stuff but obviously they haven't done   their homework yet so that you know that physical  uh you don't have that physical ownership and   that's what serbs like is that physical ownership  and that's I like that that's good but that's one   almost so they're one step away a lot of Subs  from the standing Bitcoin so whenever I tweet   or or share anything about Bitcoin there's a lot  of uh loud voices and you think Bitcoin Twitter  
(1:11:55) can be harsh Serbian Twitter that's another (1:11:57) next another level um yeah so going   to what you were saying afterwards is uh yeah  I think post rer um we should do something yeah   I think we should definitely do something here  in belr uh if people are interested in they're   hearing this uh after the Ria there's a ria  event like I think the third week of August   and then maybe the last weekend of August yeah  so then afterwards maybe on the 27th 28 29th of   August we we can do something here in belg we  have a hub in Belgrade a Bitcoin only Hub um  
(1:12:29) that was opened up a year and a half ago so (1:12:32) thanks to John's Barry who works   for Peak shift uh his company have have are  paying for the rent of a of a space it's like   an apartment location on two levels here in  the center of Belgrade top location and it's   called Hub 21 it's uh it's it's it's a co-working  space that's also open for uh meat meat HBS for   lectures for presentations for uh Al anything  Bitcoin related really and we can meet there   and also I think we're going to maybe make a  meeting happen in the palace as well amazing at 
(1:13:08) (1:13:08) the moment as you can see behind me  it doesn't look very palatial I still live in   a flat downtown but uh hopefully I am moving  into the Palaces soon that's another story that   we can talk about maybe maybe maybe in Belgrade  yeah maybe in Belgrade that but yeah so um yeah   that's uh so let's let's make some let's make  something happen here I love it okay uh so if   people are hearing that you're in the in the  area of Serbia Belgrade and you want to try  
(1:13:34) to go to this we're going to set something up end (1:13:37) of August uh stay tuned also yes sorry   one more thing is maybe we're talking about  having a one day Conference madebe October   16th in yeah in as well okay awesome so  it's still very early stages but stay tuned   stay tuned stay tuned stay tuned Prince Phillip  thank you so much for your time this was such a   pleasure and uh really enjoyed the chat Preston  the pleasure was mine too thank you very much   when I was interviewing Elon for the founders  book and we were talking about what is money  
(1:14:06) he said money is just an information system (1:14:08) right it's a way for us to avoid   having to barter that's almost an exact quote  from something he said to me and he says because   it's an information system you can see how a  universe of digital currencies is actually a   much more efficient information system by  shamon terms than something like handing   you pressing a dollar right because it just  like there a lot of friction involved there


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